Proactiveinvestors Australia NTM Gold Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia NTM Gold Ltd RSS feed en Thu, 27 Jun 2019 00:21:03 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - NTM Gold intersects up to 23.3 g/t in latest drilling at Redcliffe project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/218668/ntm-gold-intersects-up-to-233-gt-in-latest-drilling-at-redcliffe-project-in-wa-218668.html NTM Gold Ltd (ASX:NTM) has received first aircore drilling results with intersections up to 23.3 g/t gold at its Redcliffe project near Leonora in WA.

Drilling is part of a larger campaign with the majority of the program testing potential northern extensions to the company’s 2018 Hub discovery.

NTM Gold completed 65 holes to the north of the Hub for 4,785 metres of the 8,000-metre program with the Nambi North and Aliso areas also tested.

READ: NTM Gold resumes drilling at Redcliffe project targeting several gold prospects

NTM Gold managing director Andrew Muir said: “The results from testing the northern extensions of Hub has delivered some remarkable results demonstrating that the mineralisation continues for at least another 500 metres and remains open, growing the Hub footprint substantially.

“Initial aircore drilling is underway with deeper follow-up reverse circulation drilling planned for May, which will give crucial information to the extent of the mineralisation.

"Should results be positive, the company will undertake more detailed drilling with the aim of defining an initial resource estimate towards the end of 2019.”

The assay results demonstrate the potential for the Hub prospect to host significant mineralisation.

Better results include:

10 metres at 23.3 g/t from 55 metres; 5 metres at 2.9 g/t from 20 meters; 5 meters at 2.9 g/t from 75 metres; and 10 metres at 9 g/t from 65 metres.

This latest drilling has defined a mineralised corridor north of the original Hub mineralised zone of at least 500 metres length in addition to the plus 300-metre strike length of the original Hub discovery.

Looking ahead

Two follow-up infill aircore lines are underway between several of the first pass 200-metre spaced lines to better define the mineralised zone, with results due in the next few weeks.

Following the infill drilling, the company’s plan is to undertake RC drilling on the northern mineralisation to test the depth extent and refine understanding of the grade distribution and geology.

Beyond that, a more detailed resource style drill out is scheduled in the second half of the year with a view to generating a maiden resource at Hub, which will incorporate the northern and southern components.

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Tue, 16 Apr 2019 17:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218668/ntm-gold-intersects-up-to-233-gt-in-latest-drilling-at-redcliffe-project-in-wa-218668.html
<![CDATA[News - NTM Gold resumes drilling at Redcliffe project targeting several gold prospects ]]> https://www.proactiveinvestors.com.au/companies/news/217380/ntm-gold-resumes-drilling-at-redcliffe-project-targeting-several-gold-prospects-217380.html NTM Gold Ltd (ASX:NTM) has resumed aircore drilling at its Redcliffe Gold Project near Leonora in WA following successful 2018 aircore work that returned plus 1 g/t gold intersections.

This latest aircore campaign will comprise about 8,000 metres of drilling across the project including at the Hub North, Nambi North, Infinity and Aliso prospects.

The bulk of the drilling will focus on an 800-metre gap to the north of the recent Hub discovery, which has never been drilled.

It will also follow up previous intersections at Infinity and Aliso as well as testing structural targets at Nambi North.

READ: NTM Gold Ltd raises a further $1.5 million through DGO placement

NTM Gold managing director Andrew Muir said: “Our aggressive exploration program of Redcliffe continues with the resumption of aircore drilling to target new deposits.

“This program is in parallel to our diamond and reverse circulation drill campaigns that are aimed at expanding existing deposits and drilling out recent discoveries.

“The ongoing drilling should result in regular exploration results news flow over the next few months as NTM continues to deliver value for shareholders.”

READ: NTM Gold hits high-grade gold in drilling of Hub prospect at Redcliffe

Redcliffe Gold Project targets and selected deposits over aerial magnetics.

The diamond rig is drilling a second core hole into the Hub, the final hole of the diamond program.

A reverse circulation drilling program will begin in May.

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Thu, 28 Mar 2019 15:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217380/ntm-gold-resumes-drilling-at-redcliffe-project-targeting-several-gold-prospects-217380.html
<![CDATA[News - NTM Gold Ltd raises a further $1.5 million through DGO placement ]]> https://www.proactiveinvestors.com.au/companies/news/216345/ntm-gold-ltd-raises-a-further-15-million-through-dgo-placement-216345.html NTM Gold Ltd (ASX:NTM) has completed tranche two of the equity issue to DGO Gold Limited (ASX:DGO) as part of DGO’s alliance with NTM to accelerate exploration at the Redcliffe Gold Project near Leonora, WA.

The remaining $1.5 million has now been settled ahead of its March 31 due date with the issue of 37.5 million shares at 0.04 cents per share, with shareholder approval received on February 15, 2019.

Shares issued in the second tranche included 47.5 million options exercisable at 0.05 cents each by March 31, 2020 and 47.5 million options exercisable at 0.10 cents each by March 31, 2022.

READ: NTM Gold hits high-grade gold in drilling of Hub prospect at Redcliffe

NTM managing director Andrew Muir said: “NTM is pleased to confirm DGO’s commitment to the second tranche.

“These funds will help us deliver on our Redcliffe project objectives, with the RC program having recently been completed and diamond drilling now underway.

“Both programs are testing the down dip extensions on a number of existing deposits as well as the new Hub prospect.

“The alignment between DGO and NTM reflects both companies’ strong belief in the potential of Redcliffe and we are committed to fast-track exploration to grow the resource base and value of the company.”

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Wed, 13 Mar 2019 02:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216345/ntm-gold-ltd-raises-a-further-15-million-through-dgo-placement-216345.html
<![CDATA[News - NTM Gold hits high-grade gold in drilling of Hub prospect at Redcliffe ]]> https://www.proactiveinvestors.com.au/companies/news/213312/ntm-gold-hits-high-grade-gold-in-drilling-of-hub-prospect-at-redcliffe-213312.html NTM Gold Ltd (ASX:NTM) has received high-grade results in 1-metre resamples from Hub prospect of the Redcliffe Gold Project near Leonora, Western Australia.  

In December, the first reverse circulation (RC) drilling at the Hub discovery traverse  followed-up initial shallow aircore results.

The aim was to test mineralisation at depth and along the interpreted strike.

1-metre resamples

Composite samples from the RC program have been re-sampled on 1-metre intervals, highlighting excellent grades within the original intervals.

Best results include:

4 metres at 9.28 g/t gold within 12 metres at 4.55 g/t from 40 metres; 2 metres at 6.89 g/t within 7 metres at 3.96 g/t from 177 metres; 1 metre at 10.50 g/t within 3 metres at 5.18 g/t from 250 metres; and 1 metre at 7.89 g/t from 35 metres.

The 1-metre samples have also confirmed the 5-metre results, providing better granularity on grades and widths.

Gold mineralisation is steeply dipping and of similar orientation to NTM’s other Redcliffe deposits.

“Good widths and good grades”

NTM Gold’s managing director Andrew Muir said: “The RC drilling highlighted the significant potential of the Hub prospect with good widths and grades.

“In addition, the mineralisation continues at depth with the deepest intersection returning 3 metres at 5.18 g/t gold from 250 metres.

“More drilling is required to understand the strike and depth of the mineralisation, as well as the geometry and influence the mafic dyke may have on the mineralisation.

“Follow-up drilling has commenced at Hub, with drilling at other prospects to follow thereafter.”

Looking forward

NTM plans an initial five holes in the new program and on completion the RC rig will test other prospects within the Redcliffe project including Nambi, Bindy North, Infinity and Mesa West.

A diamond program is also being planned to test high-grade depth extension at a number of deposits, including Nambi, Bindy and GTS.

Regional aircore drilling will be carried out in the March quarter with targets to include the 800-metre strike north of the Hub prospect, as well as further holes around the Infinity prospect.

- Jessica Cummins

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Fri, 25 Jan 2019 00:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213312/ntm-gold-hits-high-grade-gold-in-drilling-of-hub-prospect-at-redcliffe-213312.html
<![CDATA[News - NTM Gold intersects high-grade gold at Redcliffe project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/204586/ntm-gold-intersects-high-grade-gold-at-redcliffe-project-in-wa-204586.html NTM Gold Ltd (ASX:NTM) has completed a reverse circulation (RC) drilling program at its Redcliffe Gold Project near Leonora in Western Australia.

The program consisted of 18 RC holes for 3,130 metres and 5 metre composite assays yielded promising results, indicating potentially new mineralised zones.

A number of targets were tested, including Bindy North, Westlode South, Redcliffe, Redcliffe South, and Redcliffe East.

Highlighted results include: 3 metres at 5.24 g/t gold from 235 metres at Bindy North; 5 metres at 3.10 g/t from 125 metres at Redcliffe South; 5 metres at 3.10 g/t from 65 metres at Redcliffe South; and 5 metres at 2.06 g/t from 25 metres at Westlode South.

 

NTM managing director Andrew Muir said the company’s first drilling program had resulted in some promising gold intercepts, particularly at a number of new prospects.

Muir said: “These results, from the initial 5 metre composite samples, highlight the potential for the delineation of new mineralisation as well as extensions to a number of our existing deposits.

“These results will be refined with the completion of 1 metre resamples.

“The next stage in our exploration will be a significant aircore program that will assess a large number of new and exciting targets across Redcliffe.

“Large areas of Redcliffe remain untested, highlighting the significant potential we have to further add to NTM’s 538,000-ounce resource base.”

READ: NTM Gold’s resource upgrade highlights potential of Redcliffe Gold Project

The Redcliffe project is a 170 square kilometre tenement covering the Mertondale Shear Zone, an interpreted major crustal structure important for gold mineralisation.

Exploration work has identified and delineated the Golden Terrace South and Kelly prospects in the southern section of the project, and the Redcliffe and Nambi prospects in the northern section.

NTM recently updated the indicated and inferred resource for the Redcliffe project to 12.53 million tonnes at 1.34 g/t gold for 537,900 ounces of gold.

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Mon, 10 Sep 2018 23:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204586/ntm-gold-intersects-high-grade-gold-at-redcliffe-project-in-wa-204586.html
<![CDATA[Media files - NTM Gold increases Resource by 94%, pivots to exploration with 3-tiered approach ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9578/ntm-gold-increases-resource-by-94-pivots-to-exploration-with-3-tiered-approach-9578.html Thu, 14 Jun 2018 19:48:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9578/ntm-gold-increases-resource-by-94-pivots-to-exploration-with-3-tiered-approach-9578.html <![CDATA[News - NTM Gold’s resource upgrade highlights potential of Redcliffe gold project ]]> https://www.proactiveinvestors.com.au/companies/news/198671/ntm-golds-resource-upgrade-highlights-potential-of-redcliffe-gold-project-198671.html NTM Gold Ltd (ASX:NTM) has updated the indicated plus inferred resource for its Redcliffe Project near Leonora, Western Australia to 12.53 million tonnes at 1.34 g/t gold for 537,900 ounces of gold.

This is a 94% increase on the previous estimate of 277,000 ounces of gold.

The update incorporates infill and extensional drilling at a number of Redcliffe deposits including Nambi, Bindy and Golden Terrace South (GTS).

NTM recently intersected high-grade gold from drilling at the GTS prospect, including 11 metres at 4.51 g/t gold.

Key value driver for NTM

NTM managing director Andrew Muir said: “The updated mineral resource estimate for Redcliffe is a significant milestone for NTM that has been some time coming, following an extensive period of drilling.

“The updated 538,000 ounce resource highlights the potential of the project and provides a key value point for NTM.

“However, we see significant upside beyond this resource, with many deposits still remaining open, as well as the potential for new discoveries with a sizeable portion of Redcliffe unexplored.”

Majority of deposits remain open at depth

The resource estimate is a key milestone in the company’s history and demonstrates the potential of the Redcliffe Project.

The majority of deposits remain open at depth or strike or both and present obvious near-term exploration targets.

NTM intends to expand exploration activities in the coming half, with drilling aimed at adding to the current resource base via new discoveries as well as incremental additions around the known deposits.

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Tue, 12 Jun 2018 16:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198671/ntm-golds-resource-upgrade-highlights-potential-of-redcliffe-gold-project-198671.html
<![CDATA[News - NTM appointments signal golden intentions ]]> https://www.proactiveinvestors.com.au/companies/news/189972/ntm-appointments-signal-golden-intentions-189972.html NTM Gold Ltd (ASX:NTM) has appointed experienced capital markets executive Andrew Muir as managing director to steer its gold strategy.

The company has also appointed substantial shareholder Ted van Heemst as a non-executive director.

Inaugural CEO Rodney Foster will transition to the role of non-executive (technical) director.

Muir is an experienced gold geologist who has spent the past 12 years in corporate finance.

Focus on Redcliffe Gold Project

The appointments have been made following the success of NTM’s campaign to identify gold-bearing mineralisation at its Redcliffe Gold Project near Leonora in Western Australia.

Muir’s appointment will enable NTM’s technical team, led by Foster, to focus solely on further exploration success at Redcliffe.

He joins from Argonaut Capital, where he was an associate director with that firm’s corporate team and has also worked as an analyst for JP Morgan, Hartleys and PCF Securities.

Muir began his career as a geologist for Great Central Mines before joining Placer Dome and then Goldfields Ltd.

Capital raising

Early this week NTM is expected to announce the results of a capital raising arranged by Argonaut Capital and Hartleys.

Priced at $0.05, an 8% discount to NTM’s last traded price of $0.054, the raising is targeting $1.25 million.

High-grade gold results

NTM has received further high-grade gold results from drilling in December 2017 of the Nambi and Golden Terrace South deposits at Redcliffe.

These include 1 metre at 34.3 g/t gold within 3 metres at 14.2 g/t from 43 metres, 2 metres at 8.98 g/t from 84 metres and 3 metres at 8.44 g/t from 238 metres at Nambi.

Best Golden Terrace South results were 16 metres at 2.71 g/t from 191 metres and 19 metres at 2.40 g/t from 138 metres.

Further encouraging results were returned from early stage drilling at Bindy and KT-1, two new regional discoveries made in 2017.

Resource estimate underway

NTM has engaged independent consultants to update the resource estimate of 5.48 million tonnes at 1.57 g/t gold for 278,000 ounces, including 969,000 tonnes at 2.7 g/t in the indicated category.

The estimate is expected to be completed later this quarter.

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Sat, 13 Jan 2018 15:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189972/ntm-appointments-signal-golden-intentions-189972.html
<![CDATA[News - NTM Gold to lift funds following bonanza gold ]]> https://www.proactiveinvestors.com.au/companies/news/189914/ntm-gold-to-lift-funds-following-bonanza-gold-189914.html NTM Gold (ASX:NTM) has interests in Western Australia’s Eastern Goldfields, and recently revealed a drill intercept of 5 metres at 31.4g/t gold from 40 metres at its wholly-owned Redcliffe Gold Project.

Recent drilling aimed at extending the three high-grade lodes below and south of the historical pit.

To advance the next steps NTM is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 16th January 2018, or earlier if an announcement is made to the market.

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Fri, 12 Jan 2018 10:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189914/ntm-gold-to-lift-funds-following-bonanza-gold-189914.html
<![CDATA[News - NTM Gold has gold drilling results on the table ]]> https://www.proactiveinvestors.com.au/companies/news/185917/ntm-gold-has-gold-drilling-results-on-the-table-185917.html NTM Gold Ltd (ASX:NTM) has some interesting news pending, with the ASX granting the company a trading halt pending details of exploration results.

The company recently raised funds to aggressively pursue drilling activity on the Redcliffe Gold Project, located near Leonora in Western Australia.

Recent 5 metre composite reverse circulation results include: 5 metres at 6.58g/t gold from 250 metres and 5 metres at 9.86g/t gold from 65 metres.

The halt will remain in place until the opening of trade on Tuesday 24th October 2017, or earlier if an announcement is made to the market.

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Fri, 20 Oct 2017 11:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185917/ntm-gold-has-gold-drilling-results-on-the-table-185917.html
<![CDATA[News - NTM Gold to detail share placement ]]> https://www.proactiveinvestors.com.au/companies/news/170361/ntm-gold-to-detail-share-placement-170361.html The halt will remain in place until the opening of trade on Thursday 15th December 2016, or earlier if an announcement is made to the market.

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Tue, 13 Dec 2016 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170361/ntm-gold-to-detail-share-placement-170361.html
<![CDATA[News - Northern Manganese Ltd has drill core on the table ]]> https://www.proactiveinvestors.com.au/companies/news/169575/northern-manganese-ltd-has-drill-core-on-the-table-169575.html About a month ago the company wrapped up a 16 hole reverse circulation program at the Redcliffe Gold Project, located near Leonora in Western Australia.

The halt will remain in place until the opening of trade on Wednesday 30th November 2016, or earlier if an announcement was made to the market.

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Mon, 28 Nov 2016 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169575/northern-manganese-ltd-has-drill-core-on-the-table-169575.html
<![CDATA[News - Northern Manganese Ltd approaching updated gold JORC Resource ]]> https://www.proactiveinvestors.com.au/companies/news/166576/northern-manganese-ltd-approaching-updated-gold-jorc-resource-71255.html Northern Manganese Ltd (ASX:NTM) is leveraged to multiple drilling programs within the 100% owned Redcliffe Gold Project located in the Eastern Goldfields region of Western Australia.

Drilling is to progress an updated estimation of resources to JORC 2012 compliance.

Reverse circulation drilling is now underway at the Kelly prospect where 17 holes will target a supergene gold zone.

The objective of this program is to infill and further define gold mineralisation.

Additionally, a diamond core rig has been mobilised to drill out extensions to previous holes and gold mineralisation at the Golden Terrace South prospect.

The Redcliffe Gold Project is located in a district that offers excellent mining infrastructure and hosts several multi-million ounce gold deposits including the 5.1 million ounce Sons of Gwalia deposit, the 3.1 million ounce gold Tarmoola deposit and the 1.5 million ounce Tower Hill deposit.

The Golden Terrace South is the most advanced prospect within the project with a current JORC 2004 resource estimate of 1.39 million tonnes grading 2.02 g/t gold for 90,000 ounces of gold.

The stock is trading up over 650% year to date, catapulted by drilling results in early June at Golden Terrace South.

Results included:

- 15 metres at 14.47 g/t gold from 85 metres;
- 91 metres at 3.88 g/t gold from 35 metres; and
- 65 metres at 4.46 g/t gold from 60 metres.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 28 Sep 2016 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166576/northern-manganese-ltd-approaching-updated-gold-jorc-resource-71255.html
<![CDATA[News - Northern Manganese Ltd to reveal exploration results ]]> https://www.proactiveinvestors.com.au/companies/news/165506/northern-manganese-ltd-to-reveal-exploration-results-70529.html Northern Manganese Ltd (ASX:NTM) is preparing to reveal results from the recently completed drilling program at the Nambi Prospect, within the Redcliffe Gold Project in Western Australia.

The halt will remain in place until the opening of trade on Monday 22nd August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 18 Aug 2016 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165506/northern-manganese-ltd-to-reveal-exploration-results-70529.html
<![CDATA[News - Northern Manganese Ltd is ASX % Gainer intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/139649/northern-manganese-ltd-is-asx-gainer-intra-day-69055.html Monday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Northern Manganese Ltd NTM $0.048 380% 29,712,178 Lakes Oil NL LKO $0.002 100% 1,000,000 Metal Bank Ltd MBK $0.019 90% 61,400,593 Koon Holdings Ltd KNH $0.150 66.67% 12,000 Ram Resources Ltd RMR $0.003 50% 200,000 Norwest Energy NL NWE $0.003 50% 1,280,080 Platina Resources Ltd PGM $0.155 34.78% 1,297,964 Chapmans Ltd CHP $0.004 33.33% 12,000,000 Inca Minerals Ltd ICG $0.004 33.33% 1,000,000 Coppermoly Ltd COY $0.012 33.33% 246,888

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 06 Jun 2016 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139649/northern-manganese-ltd-is-asx-gainer-intra-day-69055.html
<![CDATA[News - Northern Manganese Ltd has exploration results on the table ]]> https://www.proactiveinvestors.com.au/companies/news/139648/northern-manganese-ltd-has-exploration-results-on-the-table-69009.html Northern Manganese Ltd (ASX:NTM) is preparing to reveal initial exploration results, with the ASX granting the company a trading halt to prepare.

Last month the company commenced drilling at the Redcliffe Gold Project, which is located in the highly prospective region of Leonora in the Eastern Goldfields Region of Western Australia.

The region hosts several multi-million ounce gold deposits.

The halt will remain in place until the opening of trade on Monday 6th June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 19:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139648/northern-manganese-ltd-has-exploration-results-on-the-table-69009.html
<![CDATA[News - Northern Manganese acquisition has gold production potential ]]> https://www.proactiveinvestors.com.au/companies/news/139647/northern-manganese-acquisition-has-gold-production-potential-64067.html Northern Manganese (ASX:NTM) is acquiring a 51% stake in the Redcliffe Gold Project (RGP) in Western Australia’s Eastern Goldfields region that has potential for near term production from Redcliffe Resources (ASX:RCF).

It has also entered into an agreement with Redcliff Resources.

The company is paying $260,000 and 13,888,889 NTM shares as consideration for the stake in RGP, which has a Resource of 278,100 ounces of gold over eight deposits.

RGP is located approximately 40 to 55 km north-east of Leonora and encompasses granted mining leases of an area of 47 square kilometres.

There are a number of plants in the genera area, raising the potential for third party processing of RGP ore.

Northern Manganese has the potential to increase its interest in the project to 85%.

Under the proposed merger, Redcliffe shareholders will receive one NTM share for every 2.75 RCG shares held.

This is represents a 23% premium based on the Volume Weighted Average Price of both NTM and RCF over the last three months.

Shares in NTM last traded at $0.013 while RCF last traded at $0.005.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 19 Aug 2015 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139647/northern-manganese-acquisition-has-gold-production-potential-64067.html
<![CDATA[News - Northern Manganese receives payment for Northern Territory tenements ]]> https://www.proactiveinvestors.com.au/companies/news/139646/northern-manganese-receives-payment-for-northern-territory-tenements-56666.html Northern Manganese (ASX:NTM) will receive a payment of $2.8 million from the Northern Territory Government in return for the surrender of its Groote Eylandt sea or ‘wet’ tenements.

This followed the NT Government’s move to declare a general reservation over the waters surrounding Groote Eylandt.

The reservation would have a severe negative impact on the four tenements.

Northern Manganese had then submitted a financial claim setting out a number of proposed terms and conditions including a compensation sum.

This led to the agreement for the payment.

The company still holds applications for four Islands and three ‘wet’ tenements in Blue Mud Bay as well as two Island applications within the Groote Eylandt project area.

While the Islands are subject to negotiations, the wet tenements still fall within the moratorium.

Northern Manganese is reviewing its funding agreements and capital raising initiatives going forward.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 01 Aug 2014 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139646/northern-manganese-receives-payment-for-northern-territory-tenements-56666.html
<![CDATA[News - Northern Manganese nets cash and shares from sale of magnetite project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/139645/northern-manganese-nets-cash-and-shares-from-sale-of-magnetite-project-in-wa-49597.html Northern Manganese (ASX:NTM) has entered into a binding agreement to sell its 100% interest in a magnetite project at Mt Alexander in Western Australia to Zenith Minerals (ASX:ZNC).

Northern Minerals will receive 500,000 ZNC shares and payment of $50,000 cash as consideration.

The sale of the Mt Alexander tenement allows Northern to focus on manganese exploration in the Northern Territory whilst retaining exposure to the project via its new shareholding in Zenith.

Northern retains a belief in the value of manganese as an exploration and development target due to its fundamental links to expanding steel production in the Asian region.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 29 Oct 2013 15:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139645/northern-manganese-nets-cash-and-shares-from-sale-of-magnetite-project-in-wa-49597.html
<![CDATA[News - Northern Manganese to start negotiations for Northern Territory manganese licences ]]> https://www.proactiveinvestors.com.au/companies/news/139644/northern-manganese-to-start-negotiations-for-northern-territory-manganese-licences-45822.html Northern Manganese (ASX: NTM) has been given the green light from the Northern Territory Minister for Mines to enter into negotiations with the Northern Land Council for the four Island based Exploration Licence.

Consent to negotiate for the four licences in the Blue Mud Bay area had been delayed for a considerable time due to the confusion created by the Moratorium imposed in March 2012 on coastal waters based exploration by the former NT Government.

The company added that while its previous Co-Operation Agreement with the Blue Mud Bay community had expired, it had no reason to believe that they would not welcome the issuing of the consent based on previous engagements and their stated desire to see meaningful development occur in their community.

Manganese in the Blue Mud Bay area formed in shallow marine conditions just above a marine transgression, which may have formed during periods of high sea level and simultaneous anoxic events in an adjacent black shale basin.

It is believed that oxidation and weathering of primary ores produced these high grade, high quality supergene ores in the area.

Manganese ore occurs over an area exceeding 150 square kilometres on the western side of the Groote Eylandt.

The sedimentary and tabular nature of the manganese deposits and their interpreted shallow extensions dip towards the west and to the south leading to the suggestion that manganese mineralisation may occur beneath the shallow sea floor.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 22 Jul 2013 16:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139644/northern-manganese-to-start-negotiations-for-northern-territory-manganese-licences-45822.html
<![CDATA[News - Northern Manganese to update grant of exploration licenses ]]> https://www.proactiveinvestors.com.au/companies/news/139643/northern-manganese-to-update-grant-of-exploration-licenses-45770.html Northern Manganese (ASX: NTM) is preparing details regarding new information about the company's consent applications status for the grant of exploration licenses, with the ASX granting the company a trading halt - with its shares placed in pre-open.

The company has extensive offshore manganese exploration projects in the Northern Territory.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 23rd July 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 19 Jul 2013 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139643/northern-manganese-to-update-grant-of-exploration-licenses-45770.html
<![CDATA[News - Northern Manganese drilling to follow-up 34.8% copper rock chips at Wounded Knee ]]> https://www.proactiveinvestors.com.au/companies/news/139642/northern-manganese-drilling-to-follow-up-348-copper-rock-chips-at-wounded-knee-34048.html Northern Manganese (ASX: NTM) is poised to start a 10 hole reverse circulation drilling program targeting a known copper occurrence at its Wounded Knee project in the Pilbara Mineral Field, Western Australia.

Rock chip and grab samples from previous exploration returned values of up to 34.8% copper, 1.6 grams per tonne (g/t) gold, 1000g/t silver, 15.9% lead, 3,230ppm zinc and 213ppm molybdenum.

An earlier soils sampling program returned twelve samples with over 500ppm copper.

These results as well as geological observations have allowed Northern to identify numerous areas of interest.

Wounded Knee is located about 120 kilometres east of Nullagine and 15 kilometres southeast of the Woodie Woodie Mine.

It is surrounded by other projects including Encounter Resources (ASX: ENR) Yeneena Copper Project, Aditya Birla Minerals’ (ASX:ABY) Birla Nifty Copper Mine, Newcrest Mining’s (ASX: NCM) Telfer Copper/Gold Mine and Cameco Corporation’s (TSE: CCJ) uranium/gold/base Metals Kintyre Project.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 02 Oct 2012 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139642/northern-manganese-drilling-to-follow-up-348-copper-rock-chips-at-wounded-knee-34048.html
<![CDATA[News - Northern Manganese receives ASX speeding ticket over 118% share price jump ]]> https://www.proactiveinvestors.com.au/companies/news/139641/northern-manganese-receives-asx-speeding-ticket-over-118-share-price-jump--28571.html Northern Manganese (ASX: NTM) has attracted investor interest recently with shares spiking 118% to an intra-day high of A$0.059 yesterday, which has prompted a price and volume query from the ASX.

Shares increased from $0.027 on Wednesday, 2 May.

The ASX also noted an increase in the volume of securities traded over the same period, with 3.6 million shares changing hands from the close of trade on 2 May to the close of trade yesterday.

The company responded to the ASX saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

Northern Manganese is in the process of reviewing the potential impact to the company of the Northern Territory’s recently announced moratorium on sea bed mining in coastal waters.

In early March the State Government announced it had put in place a three year moratorium to allow for a comprehensive assessment of the potential impacts of sea bed mining by the Environment Protection Authority.

The decision by the Government means that exploration applications and applications for mining of bulk materials in coastal waters will not be granted until 2015.

Late last year, Northern Manganese received approval for its Groote Eylandt project, offshore Northern Territory, from the Department of Sustainability, Environment, Water, Population and Communities.

An authorisation of the mine management plan from the Northern Territory Department of Resources was the last regulatory action required before an acoustic survey could be conducted.

It is unclear as to whether the moratorium includes non-invasive exploration programs such as the acoustic survey, for which Northern Manganese has received Federal Government approval.

The company, which also owns 100% of the Blue Mud Bay project offshore Northern Territory, will be seeking clarification as to whether or not the moratorium applies to granted exploration titles.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 08 May 2012 08:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139641/northern-manganese-receives-asx-speeding-ticket-over-118-share-price-jump--28571.html
<![CDATA[News - Northern Manganese to assess impact of Northern Territory’s sea bed mining moratorium ]]> https://www.proactiveinvestors.com.au/companies/news/139640/northern-manganese-to-assess-impact-of-northern-territorys-sea-bed-mining-moratorium--26236.html Northern Manganese (ASX: NTM) has sought the assistance of legal counsel to review and advise on the potential impact to the company of the Northern Territory’s recently announced moratorium on sea bed mining in coastal waters.

Earlier this week the State Government announced that it had put in place a three year moratorium to allow for a comprehensive assessment of the potential impacts of sea bed mining by the Environment Protection Authority.

The decision by the Government means that exploration applications and applications for mining of bulk materials in coastal waters will not be granted until 2015.

Interestingly, the moratorium does not extend to petroleum exploration and production, and port development.

Late last year, Northern Manganese received approval for its Groote Eylandt project, offshore Northern Territory, from the Department of Sustainability, Environment, Water, Population and Communities.

An authorisation of the mine management plan from the Northern Territory Department of Resources was the last regulatory action required before an acoustic survey could be conducted.

It is unclear as to whether the moratorium includes non-invasive exploration programs such as the acoustic survey, for which Northern Manganese has received Federal Government approval.

The company, which also owns 100% of the Blue Mud Bay project offshore Northern Territory, will be seeking clarification as to whether or not the moratorium applies to granted exploration titles.

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Fri, 09 Mar 2012 10:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139640/northern-manganese-to-assess-impact-of-northern-territorys-sea-bed-mining-moratorium--26236.html
<![CDATA[News - Northern Manganese in pre open following Northern Territory sea bed mining moratorium ]]> https://www.proactiveinvestors.com.au/companies/news/139639/northern-manganese-in-pre-open-following-northern-territory-sea-bed-mining-moratorium-26141.html Northern Manganese (ASX: NTM) has been granted a trading halt by the ASX pending an announcement regarding a decision made by the Northern Territory Government.

The state government yesterday announced that it had placed a three year moratorium on sea bed mining in the coastal waters of the Northern Territory.

This moratorium will allow for a comprehensive assessment of the potential impacts of sea bed mining by the Environment Protection Authority.

Significantly, the decision by the government means that exploration applications and applications for mining of bulk materials in coastal waters will not be granted until 2015.

In the December quarter of 2012, Northern Manganese received approval for its Groote Eylandt project, offshore Northern Territory, from the Department of Sustainability, Environment, Water, Population and Communities.

An authorisation of the mine management plan from the Northern Territory Government Department of Resources was the last regulatory action required before an acoustic survey could be conducted.

The company also holds 100% of the Blue Mud Bay project, offshore Northern Territory.

Other operations

Northern’s interests outside of the Northern Territory include the Mt Alexander Project in Western Australia, where uranium, lead, zinc and tantalum targets have been delineated, will not be affected by the decision.

In addition, late last month, the company entered into a purchase agreement to acquire 100% of the Wounded Knee Project in Western Australia, which is held by a Kalgoorlie-based prospector.

Wounded Knee is located in the Pilbara Mineral Field, and is prospective for base metals.

Securities in Northern Manganese are expected to remain in trading halt for up to two days, until the commencement of trading on Friday March 9, 2012.

If an announcement is not made at the end of the trading halt period, the company intends to request the suspension of its securities.

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Wed, 07 Mar 2012 15:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139639/northern-manganese-in-pre-open-following-northern-territory-sea-bed-mining-moratorium-26141.html
<![CDATA[News - Northern Manganese raises $300,000 to progress tenement approvals ]]> https://www.proactiveinvestors.com.au/companies/news/139638/northern-manganese-raises-300000-to-progress-tenement-approvals-25550.html Northern Manganese (ASX: NTM) is raising A$300,000 through a share placement, with part of the money raised to support the ongoing political and legal management of approvals for the company’s tenements.

The company has placed 10 million shares at $0.03 each to sophisticated investors. Each share issued comes with one free attaching option exercisable at $0.06 and expiring on February 28, 2015.

Funds raised through the placement will go towards assembling the consultants and support team needed for the political and legal management of various approval processes for the tenements.

In addition, Northern will use the funds to accelerate research and exploration on existing tenements, undertake due diligence on existing and new project opportunities and complete financial modelling.

While the share placement falls within Northern’s available 15% capacity under ASX Listing Rule 7.1, the options issue is subject to shareholder approval, with a meeting to be called soon.

Northern Manganese holds the exploration rights for six tenements in the Northern Territory, which cover a total of 1,723 square kilometres of shallow marine terrain and two islands near Groote Eylandt.

The company’s tenements are located adjacent to Groote Eylandt Mining Company’s world-class manganese deposits, and contain interpreted extensions of these.

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Tue, 21 Feb 2012 10:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139638/northern-manganese-raises-300000-to-progress-tenement-approvals-25550.html
<![CDATA[News - Northern Manganese granted halt pending placement of securities announcement ]]> https://www.proactiveinvestors.com.au/companies/news/139637/northern-manganese-granted-halt-pending-placement-of-securities-announcement-25442.html Northern Manganese (ASX: NTM) has been granted a trading halt by the ASX pending the release of details surrounding a proposed placement, with the company's shares placed in pre-open.

Northern Manganese has not yet indicated where the potential inflow of funds will be allocated, but the company has previously highlighted that it is reviewing potential acquisitions.

The acquisitions would be manganese related, and could be either domestic or international.

The halt will last until the earlier of the announcement being made to the market, or the opening of trade on Tuesday 21 February.

 

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Fri, 17 Feb 2012 11:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139637/northern-manganese-granted-halt-pending-placement-of-securities-announcement-25442.html