Proactiveinvestors Australia Peppermint Innovation Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Peppermint Innovation Ltd RSS feed en Thu, 21 Mar 2019 04:32:30 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Peppermint Innovation targets Philippines "unbanked" market with Bizmoto brand ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12614/peppermint-innovation-targets-philippines--unbanked--market-with-bizmoto-brand-12614.html Thu, 14 Mar 2019 23:51:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12614/peppermint-innovation-targets-philippines--unbanked--market-with-bizmoto-brand-12614.html <![CDATA[News - Peppermint Innovation confirms funding support from two strategic investors ]]> https://www.proactiveinvestors.com.au/companies/news/215584/peppermint-innovation-confirms-funding-support-from-two-strategic-investors-215584.html Peppermint Innovation Ltd (ASX:PIL) has confirmed funding support from two strategic investors that will help deliver its next phase of growth.

On October 30, 2018, Peppermint announced Smidge Digital Unit Trust had agreed to invest $1.5 million at 2.5 cents a share via a placement of 60 million shares.

Smidge has now nominated PEGG Capital Limited, a Maltese-based investment business focused on unique and undervalued opportunities in Australia, Asia and various emerging markets as the party to fill the placement by March 31, 2019.

READ: Peppermint Innovation collaborates with Bancnet on mobile banking technology

Peppermint’s managing director and chief executive officer Chris Kain said: “This funding support described above is a vote of confidence in Peppermint from our funding partners.

“They understand our unique business offering and the respective markets we are operating in and they can clearly see the significant growth opportunities for our Bizmoto brand in the Philippines and beyond.

“Although the placement agreement has taken a little longer than we had expected, Smidge has delivered equity at a significant premium on two previous occasions and is a valued shareholder and supporter of Peppermint.”

READ: Peppermint Innovation launches international remittance service to India

PEGG Capital Limited will also continue providing financial support to Peppermint to accelerate the adoption of the company’s financial technology platform and business model roll out.

On December 21, 2018 Peppermint announced it had raised $250,000 via a convertible note with Caason Group, a sophisticated investment group and private family office headquartered in Melbourne.

The convertible note, to be exercised at 2.5 cents per share, was for a 12-month term.

Secured against the company’s legacy Zambian copper asset, Caason Group has now increased this convertible note facility to $1.5 million to support ongoing funding needs.

The note issued under this facility will mature on April 30, 2020 and is convertible into shares at 2.5 cents per share. 

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Fri, 01 Mar 2019 01:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215584/peppermint-innovation-confirms-funding-support-from-two-strategic-investors-215584.html
<![CDATA[News - Peppermint Innovation collaborates with BancNet on mobile banking technology and services ]]> https://www.proactiveinvestors.com.au/companies/news/214689/peppermint-innovation-collaborates-with-bancnet-on-mobile-banking-technology-and-services-214689.html Peppermint Innovation Ltd (ASX:PIL) has teamed up with BancNet to provide mobile banking technology and services that facilitate electronic fund transfers in real time to BancNet member outsourcing banks.

The multibank, multichannel electronic payments network enables its members’ customers to transact not only at ATMs but also at point-of-sale terminals and on the Internet and mobile phones.

“Provider of choice” for mobile banking

Peppermint managing director & CEO Chris Kain said: “We are looking forward to working with BancNet member outsourcing banks to deliver our proven mobile banking technology which will deliver yet another revenue stream for Peppermint.

“We have already developed the intellectual property which has been commercially deployed in the Philippines.

"We are now repackaging it to assist BancNet member outsourcing banks to offer real-time payments in line with the National Retail Payments System recently launched by the BSP (the Philippines Central Bank).

“Working with BancNet further validates our technology and positions Peppermint as a provider of choice for mobile banking services in the rural, thrifty and co-operative banking sector.

“We have already met 20 BancNet member banks as requested by BancNet and are now working with the first 5 of these to implement our mobile platform."

Reliable electronic payment system

Kain added: “Our ongoing projects and burgeoning operations are underpinned by our strategic investment partners SDUT and PEGG Capital - their continued support is most welcomed and provides us with capital for the future.”

Peppermint’s collaboration with BancNet follows a recent direction from Bangko Sentral Pilipinas (BSP) for all commercial and rural banks to establish a safe, efficient, affordable and reliable electronic payments system across the country.

Placement agreement

The company has also received a letter stating that the Smidge Digital Unit Trust (SDUT) nominated PEGG Capital Limited to complete the placement SDUT signed with Peppermint on October 30, 2018.

Under the placement agreement, SDUT undertook to acquire Peppermint shares to the value of $1.5 million at a price of 2.5 cents per share.

SDUT has the right to nominate another party or parties to subscribe for some or all of the placement shares with the consent of Peppermint. 

- Jessica Cummins 

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Fri, 15 Feb 2019 00:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214689/peppermint-innovation-collaborates-with-bancnet-on-mobile-banking-technology-and-services-214689.html
<![CDATA[News - Peppermint Innovation launches international remittance service to India ]]> https://www.proactiveinvestors.com.au/companies/news/204791/peppermint-innovation-launches-international-remittance-service-to-india-204791.html Peppermint Innovation Ltd’s (ASX:PIL) international remittance business, Bizmoto, has opened up a transfer corridor to India, the second largest global remittance market for Australia in 2017.

The activation means people living in Australia can now use Bizmoto’s online portal at www.bizmoto.com.au to send money to their family, friends or relatives in India.

Bizmoto will earn revenue by collecting a transaction fee on every money transfer.

Exciting new partnership for our remittance company Bizmoto https://t.co/41aTMHSwMM pic.twitter.com/wL2EFsC953

— Peppermint (ASX:PIL) (@PIL_FinTech_Co) July 26, 2018

Peppermint managing director and chief executive officer Chris Kain said: “The India remittance market is incredibly exciting for Bizmoto.

“Last year almost $1 out of every $9, measured in USD, transferred overseas by Australians flowed to India.”

Bizmoto launched its first international remittance corridor into the Philippines in early May 2018 to leverage off its burgeoning Filipino mobile-banking and payments technology platform.

READ: Peppermint Innovation begins expansion into Asian markets with Philippines partnership

According to the latest World Bank figures, Australians transferred USD$1.944 billion to India in 2017 – ranking only second to China (USD$2.922B) as the largest global remittance market for Australia.

Bizmoto will launch a marketing and awareness campaign in Australia to support and promote the opening of the international remittance money transfer service to India.

It is also working towards opening additional remittance corridors from Australia later this year.

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Thu, 13 Sep 2018 15:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204791/peppermint-innovation-launches-international-remittance-service-to-india-204791.html
<![CDATA[News - Peppermint Innovation begins expansion into Asian markets with Philippines partnership ]]> https://www.proactiveinvestors.com.au/companies/news/201622/peppermint-innovation-begins-expansion-into-asian-markets-with-philippines-partnership-201622.html Peppermint Innovation Ltd’s (ASX:PIL) online international remittance business Bizmoto has signed a partnership agreement with Direct Agent 5 Inc (DA5), one of the Philippines’ leading non-bank remittance payout providers.

The partnership will allow Bizmoto to use DA5’s 1,000-plus locations in the Philippines as trusted remittance payout providers for its customers.

DA5 will be able to use Bizmoto’s online remittance platform to payout money transfers to Australia.

Bizmoto will earn revenue from inbound (to Australia) and outbound (to the Philippines) remittance transfer.

READ: Peppermint Innovation looks to expand global business through acquisition of AusRemit

Peppermint managing director and CEO Chris Kain said the deal was significant for Bizmoto as it extended its product offering to a well-established and trusted payout partner.

He said: “This provides Bizmoto with access to one of the largest non-bank remittance payout provider networks in the Philippines.

“As well as providing Bizmoto with exposure to DA5’s extensive Filipino network, Bizmoto has the added advantage of now acting as DA5’s trusted payout partner for inward bound payments from the Philippines to Australia.

“This deal really represents a win-win agreement for Bizmoto.”

According to World Bank figures released in April, Filipinos transferred around US$537 million to other countries around the globe in 2017, with an estimated US$16 million transferred to Australia.

In the same year, Australians remitted an estimated US$1 billion to the Philippines.

Opportunities for growth

The company has signalled it will soon look to provide money transfer services in its next target markets of India and Vietnam.

Australians transferred an estimated US$1.944 billion into India in 2017 and around US$1.182 billion into Vietnam, according to the World Bank.

Kain said: “Both target markets represent tremendous growth opportunities for Bizmoto’s international remittance business, with World Bank figures showing Australians transferred more than US$3.126 billion into these two markets in 2017.”

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Thu, 26 Jul 2018 03:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201622/peppermint-innovation-begins-expansion-into-asian-markets-with-philippines-partnership-201622.html
<![CDATA[News - Peppermint Innovation looks to expand global business through acquisition of AusRemit ]]> https://www.proactiveinvestors.com.au/companies/news/193265/peppermint-innovation-looks-to-expand-global-business-through-acquisition-of-ausremit-193265.html Peppermint Innovation Ltd (ASX:PIL) has signed an exclusive option to acquire Australian based international remittance business, AusRemit Pty Ltd.

This trades as RemitWisely, providing money transfer or remittance services from Australia to more than 200 countries in more than 50 currencies on the one platform.

Consideration of cash and equity

Under the agreement, Peppermint has exclusive rights to acquire 100% of per AusRemit shares for a purchase price comprising 50% Peppermint shares and 50% cash.

The final purchase price will be calculated on a multiple of three times AusRemit’s underlying earnings or an agreed minimum of A$560,000.

Good fit with Peppermint mobile platform

Peppermint Innovation is an Australian company focused on the commercialisation and further development of its Peppermint Platform.

This is a mobile banking, payments and remittance technology designed for banks, mobile money operators and credit card companies.

Peppermint focuses on developing countries

Peppermint currently operates the Peppermint Platform in the Philippines, and the company has a particular focus on developing countries where there are limited similar services.

Subject to due diligence, the acquisition of AusRemit will assist in launching Peppermint’s international remittance business and strengthen its operations in the Philippines. 

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Fri, 16 Mar 2018 08:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193265/peppermint-innovation-looks-to-expand-global-business-through-acquisition-of-ausremit-193265.html
<![CDATA[News - Peppermint Innovation rolling out payment gateway services in Philippines ]]> https://www.proactiveinvestors.com.au/companies/news/184778/peppermint-innovation-rolling-out-payment-gateway-services-in-philippines-184778.html Peppermint Innovation Ltd (ASX:PIL) has signed a key agreement with Philippines based United Coconut Planters Bank (UCPB) to roll out internet payment gateway (IPG) services in the Philippines.

The company raised $1 million earlier this month to support the rollout of its mobile banking platform for the unbanked in the Philippines.

The new IPG services will be powered by the Peppermint payment gateway platform.

Importantly, the new agreement will be in place for an initial five-year period and Peppermint will generate a fee each time a transaction or payment is processed using the IPG.

Initially, the IPG will be rolled out with two UCPB corporate account holders who will test it by making the IPG available to their customers, allowing them to make payments or transact online.

Peppermint’s mobile banking, payments and remittance technologies are designed for banks, mobile money operators, money transfer and funds remittance companies and payment processors.

Its MyWeps app is expected to allow the large unbanked Filipino population to pay bills and transfer funds by giving cash to a mobile agent armed with a mobile phone and the MyWeps App.

Peppermint’s share price increased circa 67% in the last three months and closed at $0.015 on Thursday.

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Fri, 29 Sep 2017 07:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184778/peppermint-innovation-rolling-out-payment-gateway-services-in-philippines-184778.html
<![CDATA[News - Peppermint Innovation’s shares surge on raising $1M at a premium ]]> https://www.proactiveinvestors.com.au/companies/news/183345/peppermint-innovations-shares-surge-on-raising-1m-at-a-premium-183345.html Peppermint Innovation Ltd (ASX:PIL) has executed a strategic placement of shares worth $1 million at $0.02 each with Smidge Digital Unit Trust, a group containing significant influencers in the Asian markets.

The company’s shares were last trading 60% higher intra-day, at $0.016, after securing the investment at a significant premium over its recently traded share price.

Importantly, the placement agreement includes an option to place a further $1 million at a 25% premium to the 5-day volume weighted average share price within 60 days from the first placement.

The funds will be used for working capital and in particular to support the rollout of Peppermint’s mobile platform to the unbanked in the Philippines.

Peppermint’s mobile banking, payments and remittance technology are designed for banks, mobile money operators, money transfer and funds remittance companies and payment processors.

The company currently operates the Peppermint Platform in the Philippines.

Its MyWeps app is expected to allow the large unbanked Filipino population to pay bills and transfer funds by providing cash to a mobile agent armed with a mobile phone and the MyWeps App.

A pilot was started in May 2017 and is expected to provide insights into how agents adopt and promote the use of this service to their customers.

Significantly, the latest investment by a strategic partner with an intrinsic understanding of the fintech sector is expected to underpin the next stage of growth for Peppermint.

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Mon, 04 Sep 2017 11:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183345/peppermint-innovations-shares-surge-on-raising-1m-at-a-premium-183345.html
<![CDATA[News - Peppermint Innovation set to lift cash balance for mobile banking development ]]> https://www.proactiveinvestors.com.au/companies/news/183211/peppermint-innovation-set-to-lift-cash-balance-for-mobile-banking-development-183211.html Peppermint Innovation Ltd (ASX:PIL) is aiming to commercialise and further develop its mobile banking, payments and remittance technology platform.

The platform is designed for banks, mobile money operators, money transfer and funds remittance companies, payment processors, retailers/merchants, credit card companies and microfinance institutions.

Peppermint currently operates the Peppermint Platform in the Philippines.

The company has this afternoon been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 4th September 2017, or earlier if an announcement is made to the market.

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Thu, 31 Aug 2017 14:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183211/peppermint-innovation-set-to-lift-cash-balance-for-mobile-banking-development-183211.html
<![CDATA[News - Peppermint Innovation rolls out new remittance solution in Philippines ]]> https://www.proactiveinvestors.com.au/companies/news/178532/peppermint-innovation-rolls-out-new-remittance-solution-in-philippines-178532.html Peppermint Innovation (ASX:PIL) has commenced the commercial pilot of the MyWeps Mobile Remittance app in the Philippines, powered by Peppermint’s Mobile Agent Remittance platform.

The app was developed in partnership with MyWeps International Inc.

MyWeps app will allow the large unbanked Filipino population to pay bills and transfer funds by providing cash to a mobile agent armed with a mobile phone and the MyWeps App.

Taking place over a three-month period, an initial cohort of 278 MyWeps agents will commence the pilot with the remaining agents; 500 in total, to be on-boarded shortly.

The pilot will take place across the National Capital Region (NCR), key regional areas plus six specific municipalities in provinces identified as marginalised or underserved.

MyWeps agents will utilise the app to provide remittance, bill payment and eLoad services to their customers without the need for a bricks and mortar presence.

The pilot is expected to provide insights into how agents adopt and promote the use of this service to their customers, and to provide feedback on enhancements to the platform if necessary.

Prior to the conclusion of the pilot, Peppermint will work with MyWeps to establish the next steps towards the commercial rollout of the MyWeps app and Peppermint’s non-bank platform.

Peppermint’s non-bank platform is an initiative to provide innovative technology for about 70% of the Filipino population who are unbanked.

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Wed, 31 May 2017 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178532/peppermint-innovation-rolls-out-new-remittance-solution-in-philippines-178532.html
<![CDATA[News - Peppermint Innovation Ltd partners with Philippines’ largest bill aggregator ]]> https://www.proactiveinvestors.com.au/companies/news/140539/peppermint-innovation-ltd-partners-with-philippines-largest-bill-aggregator-69874.html Peppermint Innovation Ltd (ASX:PIL) has signed a commercial agreement with the largest bill payment aggregator in the Philippines - CIS BAYAD CENTER (CBCI), to provide a mobile payment option to its customers.

CBCI runs a payment collection service for the public related to utilities, telecommunications, cable TV, electronic wallet, credit card and other services.

The ‘Peppermint Payment Collection Solution’ will be the first mobile application used by CBCI for the payment of bills.

Peppermint Innovation has a business model in developing countries to provide an mobile fund remittance and payments application for the millions of people not currently linked to traditional banks.

With 75% of Filipinos without a traditional banking model in 2015 but with mobile phone penetration at 100%, the opportunity in the remittance market is significant.

Money transfers for these people are currently done manually in Philippines, with third parties charging up to 9% to transfer funds. Peppermint's platform charges about 2.5-3%.

The company generated revenues of $152,000 in the March 2016 quarter, executing about 1.13 million transactions per month in the Philippines.

Peppermint Innovation joined ASX’s fintech sector in November 2015 following a successful $3.87 million capital raising.

 

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, 18 Jul 2016 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140539/peppermint-innovation-ltd-partners-with-philippines-largest-bill-aggregator-69874.html
<![CDATA[News - Peppermint Innovation to provide payment solution for migme customers ]]> https://www.proactiveinvestors.com.au/companies/news/140538/peppermint-innovation-to-provide-payment-solution-for-migme-customers-66583.html Digital payments company Peppermint Innovation (ASX:PIL) has signed an agreement with migme Limited (ASX:MIG) to look into providing a payment solution to migme customers in the Philippines.

The recently listed fintech Peppermint has built an app used by 45,000 of the customers of three of the biggest banks in the Philippines.

migme is a social network focused on India, Indonesia and the Philippines, which is also moving into payments.

Fintechs seek to disrupt the traditional banking system by using software to provide financial services.

Peppermint mobile banking, payments and remittance technology platform aims to provide access to banking services for millions of people not currently linked to traditional banks.

Peppermint listed through the shell of Chrysalis Resources.

 

 

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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Fri, 15 Jan 2016 10:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140538/peppermint-innovation-to-provide-payment-solution-for-migme-customers-66583.html
<![CDATA[News - Chrysalis Resources: Peppermint forms Philippines joint venture ]]> https://www.proactiveinvestors.com.au/companies/news/140537/chrysalis-resources-peppermint-forms-philippines-joint-venture-64848.html Chrysalis Resources (ASX:CYS) has advised that Peppermint Innovation Limited has entered into a joint venture with a large agent network for its Remittance Platform and Peppermint Services in the Philippines.

Under the agreement, Peppermint has agreed to provide the Peppermint Remittance Platform and Peppermint Services to MyWepS International Inc. for the provision of products and services to its direct members, agents, business branches, other network partners and their respective members,

Part of this network is another party to the joint venture, 1Bro Global Inc., which operates 70,000 agents/members and 40 business centres across the Philippines.

At the present time the parties are working together on the installation of Peppermint services for pilot roll out of the MyWeps Remittance platform.

If successful, MyWeps shall proceed to commercial application of Peppermint services with Peppermint appointed as the exclusive provider.

The Philippines is the third largest international remittance receiving country worldwide with US$28 billion estimated from international inbound remittances in 2014.

Chrysalis is acquiring Peppermint for 350 million shares and 472.2 million performance shares that will vest on certain milestones.

The acquisition remains subject to the necessary shareholder and regulatory approvals, and satisfaction of the remaining conditions.

It is also raising up to $3.5 million through the placement of 175 million shares priced at $0.02 as part of the company’s proposed re-compliance with Chapters 1 and 2 of the ASX Listing Rule.

 

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, 30 Sep 2015 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140537/chrysalis-resources-peppermint-forms-philippines-joint-venture-64848.html
<![CDATA[News - Chrysalis Resources completes soil sampling at Zambia copper projects ]]> https://www.proactiveinvestors.com.au/companies/news/140536/chrysalis-resources-completes-soil-sampling-at-zambia-copper-projects-61390.html Chrysalis Resources (ASX:CYS) has completed regional soil sampling at both the Kabwima and Shikila Copper Projects in Zambia.

The samples form part of the conditions of the joint venture option agreement with First Quantum Minerals (TSE:FM), which has a Market Cap. of US$7.2 billion.

Under the option agreement, FQM has agreed to fund at least US$450,000 on exploration across the two projects for a six month period prior to earning the right to enter a two stage earn-in phase, and subsequent joint venture, put/call and/or net smelter royalty options.

FQM can then advance to a “First Earn-in” period involving an additional US$5 million expenditure within 2 years to earn a 51% interest in the projects and enter into a formal Joint Venture Agreement.

This will be followed by the second earn-in period to earn a total 80% interest by generating an NI 43-101 compliant resource and obtaining the grant of one or more large scale mining licences.

The company collected 7,104 soil samples from the Kabwima Project and 1,721 samples collected from the Shikila Project for a total of 8,825 samples covering 2,171 square kilometres.

Results are expected in early May.



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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Tue, 24 Mar 2015 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140536/chrysalis-resources-completes-soil-sampling-at-zambia-copper-projects-61390.html
<![CDATA[News - Chrysalis Resources kicks off more copper drilling in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140535/chrysalis-resources-kicks-off-more-copper-drilling-in-zambia-57252.html Chrysalis Resources (ASX:CYS) has commenced reverse circulation drilling on its Bulala Hills copper project in south-western Zambia.

The program aims to identify potential for economic copper mineralisation within a semi-continuous 1 kilometre by 4.5 kilometre copper-in-soil anomaly containing 107 XRF values greater than 200ppm.

Drilling is targeting high grade supergene copper mineralisation beneath the highest copper-in-soil results including 1100ppm, 1066ppm, 971ppm and 818ppm from within the central parts of the anomaly.

Mapping, and interpretation of airborne magnetic data suggests that copper mineralisation is associated with a steeply dipping shear zone containing a quartz porphyry intrusive displaying strong argillic alteration and a hematite breccia unit on its northern contact.

The program is expected to be completed in 2 to 3 weeks. 

Chrysalis has also recently commenced a 4,400 metre aircore drilling program on its Kabwima copper project in north-western Zambia.

This program aims to identify the potential for economic copper mineralisation within a 5.5 kilometre long, up to 1.6 kilometre wide, continuous copper-in-soil anomaly of greater than 100ppm.

The current geological model here focuses on supergene copper enrichment at 30 metres below surface near the faulted contact between carbonate and graphitic shale units.

Chrysalis also holds zinc-lead prospects in Western Australia at Gregory Range, where it recently identified historic zinc-lead intersections drilled by WMC and BHP between 1985 and 1996.

Infill drilling and follow-up drilling along strike is planned.

Chrysalis is lightly valued at under $4 million.

 

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, 29 Aug 2014 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140535/chrysalis-resources-kicks-off-more-copper-drilling-in-zambia-57252.html
<![CDATA[News - Chrysalis Resources kicks off copper drilling in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140534/chrysalis-resources-kicks-off-copper-drilling-in-zambia-56684.html Chrysalis Resources (ASX:CYS) has commenced a 4,400 metre aircore drilling program on its Kabwima copper project in north-western Zambia.

The program aims to identify the potential for economic copper mineralisation within a 5.5 kilometre long, up to 1.6 kilometre wide, continuous >100ppm copper-in-soil anomaly.

Drilling is targeting high grade supergene copper mineralisation beneath the higher copper-in-soil values within the central parts of the anomaly where copper-in-soil values are up to 485ppm copper and in-pit results are up to 626ppm copper.

The current geological model focuses on supergene copper enrichment at 30 metres below surface near the faulted contact between carbonate and graphitic shale units.

In addition, first pass reverse circulation drilling has been designed to test the Mwako shear zone at depth beneath a semi-continuous 1 kilometre wide by 4.5 kilometre long >100ppm Cu-in-soil anomaly.

Drill rig access and drill pad preparation is almost complete and drilling is expected to commence on or around the 14th August.

Chrysalis also holds zinc-lead prospects in Western Australia at Gregory Range, where it recently identified historic zinc-lead intersections drilled by WMC and BHP between 1985 and 1996.

Infill drilling and follow-up drilling along strike is planned.

Chrysalis is lightly valued at around $3 million.

 

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, 04 Aug 2014 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140534/chrysalis-resources-kicks-off-copper-drilling-in-zambia-56684.html
<![CDATA[News - Chrysalis Resources compiles historic zinc assays from Gregory Range, Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/140533/chrysalis-resources-compiles-historic-zinc-assays-from-gregory-range-western-australia-55270.html Chrysalis Resources (ASX:CYS) has conducted an open file (WAMEX) data compilation across the recently granted Gregory Range Project tenements in Western Australia, revealing numerous significant lead and zinc intercepts.

These included 26.3 metres at 0.46% zinc from 160.9, 22 metres at 0.37% zinc and 0.1% lead from 104 metres, and 14 metres at 0.32% zinc and 0.44% lead from 113 metres.

The results are from the Baton prospect which was drilled by WMC, BHP and MIM between 1985 and 1996.

They also coincide with a conductivity anomaly identified in the Geoscience Australia airborne electromagnetic survey conducted during 2007 and 2008.

Nifty style” sediment hosted zinc, lead and copper mineralisation is located within dolomitic breccias associated with a major east-north-east-dipping fault that separates carbonaceous siltstone and crystalline carbonate units.

Infill drilling and follow-up drilling along strike is planned.

Chrysalis is actively seeking Joint Venture partners for this project, and will continue its focus on copper exploration in Zambia.

 

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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Wed, 28 May 2014 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140533/chrysalis-resources-compiles-historic-zinc-assays-from-gregory-range-western-australia-55270.html
<![CDATA[News - Chrysalis Resources defines large copper anomalies in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140532/chrysalis-resources-defines-large-copper-anomalies-in-zambia-53611.html Chrysalis Resources (ASX: CYS) has identified large copper-rich zones from soil sampling at multiple projects in Zambia.

An 8 square kilometre zone at the Kabwima, with values up to 325ppm copper and in-pit results of up to 626ppm copper, and 10 separate anomalies over 100ppm copper was pinpointed, with a drill planning underway.

At Mwongo, located 25 kilometres from Blackthorn Resources (ASX: BTR) Kitumba deposit of 187 million tonnes at 1.14% copper, 10 square kilometre and 12 square kilometre copper zones were identified.

Results showed up to 824ppm copper, lead up to 201ppm, zinc up to 463ppm, and iron up to 37%.

Infill soil sampling and detailed mapping underway at Mwongo, and wide spaced regional multi-element soil sampling programs are also being conducted at Bulala Hills and Kabwima.

A regolith interpretation has been completed across the entire Kabwima project, and wide spaced soil sampling will commence this month.

Multi-element analysis will be used to identify broad pathfinder element alteration haloes associated with large copper-bearing hydrothermal systems, and to determine rock types underlying areas of no outcrop.

In addition, infill soil sampling, geological mapping, and extension of two old trenches containing malachite rich artisanal stockpiles at the Kasonkomona prospect has commenced prior to drill program design.

Forty five rock chip samples were also collected for copper and gold analysis, with all results are pending.

Chrysalis is capped at around $9 million.

 

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Wed, 12 Mar 2014 10:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140532/chrysalis-resources-defines-large-copper-anomalies-in-zambia-53611.html
<![CDATA[News - Chrysalis Resources intersects low grade copper and silver in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140531/chrysalis-resources-intersects-low-grade-copper-and-silver-in-zambia-51572.html Chrysalis Resources (ASX: CYS) has intersected low grade copper and silver mineralisation at its Shikila Copper Project in Zambia.

This is of a similar style to the Wangolo resource though further reverse circulation drilling is required to test the potential for economic copper mineralisation within the 24 kilometre long soil anomaly.

A data exchange agreement has been signed with First Quantum Mining and Operations Ltd with a line kilometre for line kilometre geophysical data swap over the copper belt completed.

This will greatly enhance its regional copper prospect targeting ability throughout the copper belt.

The company has also completed more than 60% of a wide spaced multi-element soil sampling program at the Mwongo copper-gold project in Zambia.

Mwongo is located just 25 kilometres from Blackthorn Resources’ (ASX: BTR) Kitumba deposit.

Low detection limit gold and multi-element analysis is to be used to identify broad pathfinder element alteration haloes associated with large Iron Oxide Copper Gold.

Sampling is also underway at the Kabwima Project.

 

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, 03 Jan 2014 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140531/chrysalis-resources-intersects-low-grade-copper-and-silver-in-zambia-51572.html
<![CDATA[News - Chrysalis Resources wraps up copper-gold drilling at Shikala, Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140530/chrysalis-resources-wraps-up-copper-gold-drilling-at-shikala-zambia-50640.html Chrysalis Resources (ASX:CYS) has completed a 26 hole, 2,145 metre reverse circulation drilling program on its Shikila copper project in north-western Zambia.

The program tested eight 120 part per million copper in soil anomalies within a 24 kilometre long, semi-continuous copper trend, specifically targeting supergene copper mineralisation between 20 and 40 metres below surface.

Drilling at the two north-western soil anomalies and the central anomaly over a magnetic high intercepted deeply weathered, altered, magnetic and pyritic gabbro units.

All samples containing elevated copper, determined via XRF, have been submitted to the SGS Laboratory in Kalulushi for copper and gold analysis, with assays pending.

 

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Thu, 28 Nov 2013 12:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140530/chrysalis-resources-wraps-up-copper-gold-drilling-at-shikala-zambia-50640.html
<![CDATA[News - Chrysalis Resources exploring for copper-gold at Halloween West, near Degrussa deposit ]]> https://www.proactiveinvestors.com.au/companies/news/140529/chrysalis-resources-exploring-for-copper-gold-at-halloween-west-near-degrussa-deposit-50130.html Chrysalis Resources (ASX:CYS), with joint venture partner Talisman Mining (ASX:TLM) has commenced new surface sampling and geological mapping at Halloween West, near Sandfire Resources' (ASX: SFR) Degrussa copper-gold deposit in Western Australia.

Halloween West is prospective for volcanogenic massive sulphide (VMS) copper-gold deposits, with the area underlain by Narracoota Volcanics which play host to Sandfire's DeGrussa mine 20 kilometres along strike to the east.

The program will test western extensions to the Halloween VMS target horizon as well as a newly identified horizon in the north-east of the project area.

Previous exploration at Halloween West has confirmed elevated copper and gold in reverse circulation drilling and surface geochemistry.

 

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Wed, 13 Nov 2013 10:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140529/chrysalis-resources-exploring-for-copper-gold-at-halloween-west-near-degrussa-deposit-50130.html
<![CDATA[News - Chrysalis Resources kicks off drilling in Zambia, 15kms from Kansanshi copper mine ]]> https://www.proactiveinvestors.com.au/companies/news/140528/chrysalis-resources-kicks-off-drilling-in-zambia-15kms-from-kansanshi-copper-mine-49053.html Chrysalis Resources (ASX:CYS) has commenced reverse circulation drilling at its Shikila copper project in Zambia, 15 kilometres along strike of the world class Kansanshi copper mine.

First Quantum's (TSX:FM) Kansanshi began production in 2005, is the eighth largest copper mine in the world, and the largest in Zambia

The program will comprise 2900 metres from 31 holes to identify potential economic copper mineralisation within a linear, 24 kilometre, semi-continuous, 75 part per million copper in soil anomaly.

Over half of the proposed drill holes are located within 15 kilometres of the Kansanshi copper mine.

High grade supergene copper mineralisation is being targeted at 20 to 40 metres depth, beneath seven individual 120 part per million copper in soil anomalies.

Geochemical soil sampling, mapping, historic drilling and magnetic data suggest a zone of supergene copper enrichment 30 metres below surface.

 

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, 14 Oct 2013 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140528/chrysalis-resources-kicks-off-drilling-in-zambia-15kms-from-kansanshi-copper-mine-49053.html
<![CDATA[News - Chrysalis Resources reveals maiden copper resource for Wangolo in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140527/chrysalis-resources-reveals-maiden-copper-resource-for-wangolo-in-zambia-46928.html Chrysalis Resources (ASX:CYS) have delivered a maiden mineral resource estimate for the Wangolo copper deposit within its 99.9% owned Shikila Copper Project In Zambia.

An inferred resource of 18.6 million tonnes at 0.52% copper, containing 96,000 tonnes of copper at a 0.3% cut-off has been calculated by Optiro Pty Ltd.

The resource model based is on mineralisation to around 250 metres, with potential to increase in size as mineralisation remains open along strike and at depth.

The estimate is backed by 4172 metres of diamond drilling and 1586 metres of reverse circulation drilling over 29 holes, which successfully delineated mineralisation over an 1100 metre long, 450 metre wide strike zone.

Highlighting the potential of Wangolo, it is situated between Barrick's (ABX: TSX) Lumwana and First Quantum's (FM: TSX) Kansanshi deposits in the North Western Province - which falls within the southern central portion of the Zambian Copper Belt.

 

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, 20 Aug 2013 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140527/chrysalis-resources-reveals-maiden-copper-resource-for-wangolo-in-zambia-46928.html
<![CDATA[News - Chrysalis Resources to raise $2.35M via 19.9% stake placement with strategic Chinese investor ]]> https://www.proactiveinvestors.com.au/companies/news/140526/chrysalis-resources-to-raise-235m-via-199-stake-placement-with-strategic-chinese-investor-44756.html Chrysalis Resources (ASX:CYS) has entered into a deal with a strategic Chinese investor to raise up to $2.35 million via an initial placement of up to 19.9% stake.

A binding terms sheet has been signed with Eagle Brilliant Holding, under which the investor has agreed to subscribe for an initial stake of up to 19.9% at $0.06 per share, which could be followed by an additional placement for up to 25%.

The funds raised will be used further exploration on Chrysalis' Zambian copper projects and to meet working capital requirements.

The placement will be either subscription of 31,543,293 fully paid ordinary shares, if Tiger Resources (ASX:TGS) exercises its "top up right" under an agreement with Chrysalis or 39,134,074 shares should Tiger choose not to top up.

As part of the agreement, the Chinese investor will have the first right of refusal to enter into an off-take deal if Chrysalis develops a producing mining operation, and will have the right to appoint an executive director and a non-executive director.

The placement is conditional upon Chrysalis getting all regulatory, shareholder and other approvals.

 

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Mon, 24 Jun 2013 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140526/chrysalis-resources-to-raise-235m-via-199-stake-placement-with-strategic-chinese-investor-44756.html
<![CDATA[News - Chrysalis Resources to reveal share placement outcome ]]> https://www.proactiveinvestors.com.au/companies/news/140525/chrysalis-resources-to-reveal-share-placement-outcome-44656.html Chrysalis Resources (ASX: CYS) is preparing to announce details of a proposed material share placement, with the ASX granting the company a trading halt - with its shares placed in pre-open.

Chrysalis is focused on exploration in Zambia in Western Australia, and is currently 19.9% owned by Tiger Resources (ASX: TGS).

In Zambia Chrysalis holds over 3000 square kilometres in highly prospective geological areas, with the northern licences are adjacent to Barrick Gold Corporation’s (TSX: ABX) Lumwana Mine and First Quantum Mineral’s (TSX: FM) Kansanshi copper mines.

The southern licences including Mwongo, are adjacent to Blackthorne Resources (ASX: BTR) Kitumba discovery.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 24th June 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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Thu, 20 Jun 2013 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140525/chrysalis-resources-to-reveal-share-placement-outcome-44656.html
<![CDATA[News - Chrysalis Resources finds more copper in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140524/chrysalis-resources-finds-more-copper-in-zambia--41717.html Chrysalis Resources (ASX: CYS) has intersected further copper mineralisation in diamond drilling at the Wangolo Prospect, within the Shikila Licence at its Zambian Copper Project.

Highlights include 4 metres at 1.21% copper, 4.5 metres at 1.38% copper and 1.5 metres at 0.96% copper.

The Wangolo Prospect was the subject of drilling in the 1960s which defined some copper mineralisation.

The Shikila licence is located between Barrick Gold’s (TSX: ABX) Lumwana copper mine and First Quantum’s (TSX: FM) Kansanshi copper mine.

The new discovery at Wangolo has copper grades which are consistent with other copper mines in the area.

Chrysalis undertook drilling at the Wangolo Prospect in late 2012, and the latest results from holes drilled northwest of the thick crosscutting hydrothermal dolomite confirm the extension of the shallow northeast dipping contact mineralisation. 

These results, which substantiate the earlier 1960s drill results, will be included in resource modelling to be undertaken during April/May.

Further exploration of the two styles of Wangolo mineralisation will focus on extending the boundaries of the existing hydrothermal dolomite to the northeast and locating similar mineralised cross-cutting structures that are thought to be dyke-like.

It will also focus on extending the contact mineralisation along strike, down dip and up dip to surface.

Meanwhile, as part of regional exploration, closer spaced follow up soil sampling of the Block 1 soil geochemical anomaly within the Shikila licence is underway.

Field inspection has located a post-tectonic gabbro intrusion within the copper soil contour that is near the top of a hill.

Ground geophysics to define the edge of the intrusion is planned prior to starting a reverse circulation drilling program to test the contact zone during late May.

Chrysalis held cash reserves of around A$1.77 million at the end of the December quarter 2012.


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, 08 Apr 2013 14:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140524/chrysalis-resources-finds-more-copper-in-zambia--41717.html
<![CDATA[News - Chrysalis Resources on the copper trail in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140523/chrysalis-resources-on-the-copper-trail-in-zambia-40959.html Chrysalis Resources (ASX: CYS) has wrapped up an extensive soil geochemistry program, which included more than 6600 samples, at its Shikila Project in Zambia.

The results were analysed using a hand-held Niton XRF, and showed multiple copper anomalies associated with deep seated magnetic anomalies.

These are considered to be intrusions providing the heat source for the hydrothermal copper mineralisation similar to the characteristics of the discovery at the Wangolo Prospect.

The outcome is that Chrysalis now has many potential anomalies in an area of more than 200 square kilometres, with the next step a reverse circulation drill program to kick-off in the 2013 dry season, which is the June quarter 2013.

At Shikila during the December 2012 quarter, Chrysalis completed a soil sampling and drilling program comprising of 11 reverse circulation holes totalling 1,586 metres and 9 diamond core holes for 1,548.8 metres.

Also completed during the period was a program of 17 reverse circulation holes for 1,809 metres at the company's Mutenda prospect, and 3 reverse circulation holes for 268 metres at the Mashimba prospect.

Chrysalis had close to $1.8 million in cash at the end of December 2012.

 

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, 19 Mar 2013 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140523/chrysalis-resources-on-the-copper-trail-in-zambia-40959.html
<![CDATA[News - Chrysalis Resources tastes drilling success finding up to 3.73% copper in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/140522/chrysalis-resources-tastes-drilling-success-finding-up-to-373-copper-in-zambia-38809.html Perth based Chrysalis Resources (ASX:CYS) has tasted success drilling in Zambia intersecting up to 3.73 per cent copper at the Shikila Project.

The Shikila Project is nicely wedged between the Kansanshi copper mine owned by First Quantum (TSX:FM) and Lumwana mine owned by Barrick (TSX:ABX).

Promisingly, the RC drill results from the property have revealed a significant copper mineralised system near surface judging by the assay results.

Assay results for the recent Reverse Circulation (RC) drilling programme reveals significant copper mineralisation at Shikila:

- 3 metres at 1.87% copper (incl. 1m at 3.63% Cu)
- 3 metres at 1.24% Cu
- 4 metres at 0.95% Cu
- 9 metres at 1.10% Cu
- 3 metres at 1.71% Cu
- 8 metres at 1.39% Cu (incl. 1m at 2.06% Cu)
- 7 metres at 1.50% Cu (incl. 1m at 3.73% Cu)

There are further newsflows due including assay results for the Shikila Project Diamond Drilling expected late February and soil geochemical programme (6,300 samples) completed at Shikila and assays expected March.

In addition, assays from the Mutenda (Kabwima North) RC programme are expected late February.

Regional soil sampling programme (16,500 samples) at Kabwima North and South has commenced.


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 Jan 2013 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140522/chrysalis-resources-tastes-drilling-success-finding-up-to-373-copper-in-zambia-38809.html
<![CDATA[News - Chrysalis Resources completes Zambian drilling campaign; awaits assays ]]> https://www.proactiveinvestors.com.au/companies/news/140521/chrysalis-resources-completes-zambian-drilling-campaign-awaits-assays-37638.html Chrysalis Resources (ASX:CYS) has completed its drilling program at its Zambian copper project that included drilling 40 holes across two prospects.

The drilling programme at the Shikila Prospect comprised of 11 reverse circulation holes for 1586 metres and 9 core holes for 1548.8 metres.

The assay results for the reverse circulation and the diamond drill cores is expected in early next year.

It has also completed the Kabwima North drilling campaign with 17 reverse circulation holes at the Mutenda prospect and 3 holes at the Mashimba prospect comprising 1809 metres and 268 metres respectively.

In addition, Chrysalis has also completed a soil sample program for Shikila prospect and the airborne geophysical survey, which will result in several targets being identified for next year's drilling program.

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, 21 Dec 2012 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140521/chrysalis-resources-completes-zambian-drilling-campaign-awaits-assays-37638.html
<![CDATA[News - Chrysalis Resources forms strategic alliance with Tiger Resources via underwritten A$3m rights issue ]]> https://www.proactiveinvestors.com.au/companies/news/140520/chrysalis-resources-forms-strategic-alliance-with-tiger-resources-via-underwritten-a3m-rights-issue-32832.html Chrysalis Resources (ASX: CYS) has formed a strategic alliance with copper producer Tiger Resources which has secured the company’s A$3 million non-renounceable rights issue that will part fund copper exploration in Zambia.

Tiger Resources has agreed to underwrite the rights issue and acquire up to a 19.9% interest in Chrysalis as part of a subscription agreement executed between the two companies.

Importantly, the alliance with Tiger is a key step in planning future exploration on the recently acquired Zambian Copper prospects.

The money raised from the rights issue will go towards funding the first stage Aeromagnetic surveys over all five licences in Zambia, and a 4,000 metre drilling program on the Shikila and Kabwima prospects.

The acquisition of 100% in Zambian Copper and 99.9% of Sedgwick Resources earlier this year gave Chrysalis the Central Zambian Mwongo and Bulala Hills projects that are within 15 kilometres and 50 kilometres respectively of Blackthorn Resources (ASX: BTR) Mumbawa project.

The deal also covered the Northern Projects of Shikila and Kabwima North and South that are located close to the Lumwana, Kansanshi and Chingola projects.

Blackthorn’s ongoing drilling success, such as an intersection of 231 metres at 4.5% copper from 201 metres at Mumbwa, demonstrates the potential of the region.

Included in the intersection were the high grade lengths of 17 metres at 14.88% copper from 211 metres; 10 metres at 10.06% copper from 265 metres; and 10 metres at 9.11% copper from 283 metres.


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, 28 Aug 2012 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140520/chrysalis-resources-forms-strategic-alliance-with-tiger-resources-via-underwritten-a3m-rights-issue-32832.html
<![CDATA[News - Chrysalis Resources shares soar 58% on green light for Zambian copper acreage acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/140519/chrysalis-resources-shares-soar-58-on-green-light-for-zambian-copper-acreage-acquisition-26464.html Chrysalis Resources (ASX: CYS) were cheered on by investors after announcing that it was moving ahead with the acquisition of copper exploration acreage in Zambia.

This comes after the company reached an out of court settlement with the Zambian Government.

The acquisition of 100% in Zambian Copper and 99.9% of Sedgwick Resources will hand Chrysalis the Central Zambian Mwongo and Bulala Hills projects that are within 15 kilometres and 50 kilometres respectively of Blackthorn Resources (ASX: BTR) Mumbawa project.

It also covers the Northern Projects of Shikila and Kabwima North and South that are located close to the Lumwana, Kansanshi and Chingola projects.

The company said it had being encouraged by the Blackthorn’s recent drilling results near the central tenements.

Blackthorn had last month made a stunning intersection of 231 metres at 4.5% copper from 201 metres at Mumbwa, its best intersection to date at the project.

Included in this intersection were the high grade lengths of; 17 metres at 14.88% copper from 211 metres; 10 metres at 10.06% copper from 265 metres; and 10 metres at 9.11% copper from 283 metres.

Chrysalis’ planned exploration activity in the central Zambian tenements along with the better understood northern Lufilian Arc will begin as soon as possible to maximise the dry season.

This includes airborne and ground geophysics, reverse circulation drilling and targeted diamond drilling and satellite image analysis.

As part of the settlement with the Zambian government, Chrysalis is required to spend A$7 million on exploration expenditure on its licence over the next 2 years.

Shares in Chrysalis closed at A$0.19 today, up 58.33%, with more than 800,000 shares changing hands.

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Thu, 15 Mar 2012 17:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140519/chrysalis-resources-shares-soar-58-on-green-light-for-zambian-copper-acreage-acquisition-26464.html
<![CDATA[News - Chrysalis Resources eyes start of drilling at West Angelas iron ore project with $150,000 grant ]]> https://www.proactiveinvestors.com.au/companies/news/140518/chrysalis-resources-eyes-start-of-drilling-at-west-angelas-iron-ore-project-with-150000-grant--23345.html Chrysalis Resources (ASX: CYS) will begin a reverse circulation drilling program at its West Angelas iron ore project in the second quarter of 2012 after receiving a $150,000 grant from the Western Australian Government towards the cost of drilling.

This is the third grant the company has received from the State Government. Chrysalis was previously awarded $155,000 for the Doolgunna West copper-gold project in the Bryah Basin and $28,000 for the Pioneer gold project in Norseman.

The West Angelas Project is located in the Pilbara region of Western Australia, 135 kilometres west of Newman and about 30 kilometres west of Rio Tinto’s (ASX: RIO) 25 million tonne per annum West Angelas mine.

There has been no previous history of iron ore exploration within the boundaries of the West Angelas Project.

The second stage 5,520 metre reverse circulation drilling program will focus on defining the extent of the Turee Creek East channel iron deposit (CID) and explore for other CID sites beyond what has been tested to date.

Earlier this year, recent drilling at the West Angelas Project intersected significant widths of CID. The best intercept was 28 metres at 55.5% iron from 32 metres including 12 metres at 57.9% iron from 40 metres.

The Turee Creek East CID prospect displayed significant thicknesses over a drill line length of around 250 metres.

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Mon, 12 Dec 2011 13:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140518/chrysalis-resources-eyes-start-of-drilling-at-west-angelas-iron-ore-project-with-150000-grant--23345.html
<![CDATA[News - Chrysalis Resources updates market on Zambian high court appeal ]]> https://www.proactiveinvestors.com.au/companies/news/140517/chrysalis-resources-updates-market-on-zambian-high-court-appeal-20315.html Chrysalis Resources (ASX: CYS) has today provided an update to the market surrounding the company's Zambian high court appeal.

Chrysalis advises the appeal against the Zambian Minister of Mines decision to not grant the transfer of shares in Sedgwick Resources Ltd to Zambian Copper Pty Ltd, which would become a 99.90% wholly owned company of Chrysalis, was heard in the High Court of Zambia on the 26th September 2011.

The hearing was subsequently adjourned to 11th October 2011.

The reason for the adjournment was due to the recent government election in Zambia which was held on the 20th September 2011 with the results being a change of government.

As a result of the change of government, the Department of Mines were unable to be represented at the High Court Appeal.

 

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Mon, 03 Oct 2011 14:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140517/chrysalis-resources-updates-market-on-zambian-high-court-appeal-20315.html
<![CDATA[News - Chrysalis Resources secures state funding for gold exploration in WA ]]> https://www.proactiveinvestors.com.au/companies/news/140516/chrysalis-resources-secures-state-funding-for-gold-exploration-in-wa--17037.html Chrysalis Resources (ASX: CYS) has been awarded A$183,000 by the Western Australian Government under the Exploration Initiative Scheme (EIS) to fund drilling at the Doolgunna West and Pioneer projects in the state.

The company received $155,000 for a deep diamond drill hole (500 metres) to be drilled at the Doolgunna West project in the Narracoota Volcanics in the Bryah Basin.

A further $28,000 was received for a reverse circulation drill program at the company’s pioneer project in Norseman.

The EIS is state government initiative encouraging exploration in Western Australia providing support to the sustainability of exploration in the resources sector.

The grant is awarded to companies that undertake innovative drilling activity over high quality economically focussed projects exhibiting new concepts, ideas and technology that may lead to new discoveries of economic mineralisation.

The company has wide-ranging project diversity with two gold projects, two iron ore projects, one uranium project and one nickel project all located within Western Australia.

The two drill ready gold projects, Pioneer and Sheeza, comprise five tenements granted and eleven applications located in proven gold mining regions, the Dundas Mineral Field, and the Broad Arrow Mineral Field.

Two iron ore projects, West Angelas and Isabella North, contain three tenement applications, with both projects located in the Pilbara region of Western Australia.

The company has one uranium project, Gregory Isabella, containing three tenement applications, located in the Gregory Ranges on the eastern margin of the Pilbara Craton.

Chrysalis also has one nickel project, Windarra, containing two tenement applications located immediately south of the Windarra South nickel mine, recently re-opened by Poseidon Nickel (ASX: POS).

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Fri, 10 Jun 2011 15:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140516/chrysalis-resources-secures-state-funding-for-gold-exploration-in-wa--17037.html
<![CDATA[News - Chrysalis Resources acquires prospective copper projects in Zambian Copperbelt ]]> https://www.proactiveinvestors.com.au/companies/news/140515/chrysalis-resources-acquires-prospective-copper-projects-in-zambian-copperbelt-13455.html Chrysalis Resources (ASX: CYS) has signed an agreement to acquire 100% of the issued shares of Zambian Copper Pty Ltd., which owns all but one of the shares in Sedgwick Resources Ltd.

Sedgwick Resources is the registered holder of the Shikila, Kabwima, Mwongo and Bulala Hills projects.

The Zambian Copper Projects cover in excess of 3,000km2, of which 2,180km2, is in the core of the highly mineralised Copperbelt of Zambia.

In considerartion for the transaction  shareholders of Zambian Copper will be issued 5 million ordinary shares in Chrysalis.  A payment of AUD $300,000 will be made to the shareholders of Zambian Copper.

In addition, Zambian Copper will nominate the appointment of two board members to Chrysalis.

Upon receiving a JORC compliant mineral resource of 100 million tonnes of copper, at potentially economic grade, Chrysalis will issue AUD $1,000,000 in shares to the shareholders of Zambian Copper.

The agreement is subject to a sixty day due diligence period.

The Shikila Project (413km2) is 30km southwest of the Equinox's (ASX: EQN) Lumwana Mine (measured and indicated resources of 342.5mt at 0.74% Cu, plus inferred resources of 563.1mt at 0.63% Cu).

It is also 20km west of First Quantum’s (LON: FQM) Kansanshi Mine (measured and indicated resources of 383.8mt at 1.1% Cu and 0.18 g/t Au, inferred resources 161.9mt at 0.76 Cu and 0.04 g/t Au).

The Kabwima Project (1,768km2) is 30km southeast of the Kansanshi Mine and 60km northwest of Ndola in the Copperbelt (>1,000mt at 3.5% Cu).

The main Lufilian Project Area, which includes the Shikila and Kabwima North and South tenements, is located in the North Western Province of Zambia, approximately 400km north of the national capital, Lusaka, and bordering the Democratic Republic of Congo.

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Thu, 27 Jan 2011 16:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140515/chrysalis-resources-acquires-prospective-copper-projects-in-zambian-copperbelt-13455.html
<![CDATA[News - Chrysalis Resources discovers significant channel iron deposit at West Angelas ]]> https://www.proactiveinvestors.com.au/companies/news/140514/chrysalis-resources-discovers-significant-channel-iron-deposit-at-west-angelas--13382.html Chrysalis Resources' (ASX: CYS) recent drilling results have displayed significant widths of channel iron deposit (CID) within its West Angelas Project.

The best intercept was 28 metres at 55.5% iron (Fe) from 32 metres including 12 metres at 57.9% Fe from 40 metres.

For Channel Iron type mineralisation, the returned intercepts are low in impurities phosphorus and aluminium.

The 'Turee Creek East CID' prospect displayed significant thicknesses over a drill line length of approximately 250 metres.

The West Angelas Iron Ore Project comprises an area of approximately 87.7km2 in Western Australia and is located 135 kilometres west of Newman and 35 kilometres west from Rio Tinto’s (ASX: RIO) West Angelas Minesite.

A total of 37 holes for 2214 metres of reverse circulation drilling have been completed over 1 Brockman Iron and 3 channel iron targets.

Chrysalis plans to define the extents of the Turee Creek East CID and explore for other CID sites beyond what has been tested.

 

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Tue, 25 Jan 2011 15:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140514/chrysalis-resources-discovers-significant-channel-iron-deposit-at-west-angelas--13382.html
<![CDATA[News - Chrysalis Resources kicks off drilling on West Angelas Iron Ore Project ]]> https://www.proactiveinvestors.com.au/companies/news/140513/chrysalis-resources-kicks-off-drilling-on-west-angelas-iron-ore-project-12058.html Chrysalis Resources (ASX: CYS) has commenced an initial program of reconnaissance exploration drilling on its West Angelas Iron Ore Project in Western Australia to test the channel iron and Brockman iron formation potential.

Up to 38 drill holes are to test targets (3 CID and 1 Brockman iron formation) for a maximum of 2000 metres of reverse circulation drilling.

The West Angelas Iron Ore Project comprises an area of approximately 87.7 km2 and is located approximately 135 kilometres west of Newman in the world-class Pilbara iron ore province.

Both the Brockman iron formation and the Marra Mamba iron formation, the major sources of iron ore in the Pilbara iron ore province, outcrop within the project boundary.

West Angelas (E47/1838) is located 35 kilometres west of Rio Tinto’s (ASX: RIO) West Angelas operations and 29.5 million tonne per annum iron ore mine. It is also 60 kilometres east south east from Talisman Mining's (ASX: TLM) iron ore projects ‘Wonmunna’ and ‘Uaroo’.

The project area lies within the Turee Complex, host to numerous iron ore deposits such as Channar and Turee Creek, both prominent Brockman iron formation deposits.
 
This project is of high priority to Chrysalis as its recent desktop studies show the possible existence of channel iron deposit trap sites and a cropped out Boolgeeda Iron Formation.

Chrysalis Resources has a market capitalisation of A$8.44 million and had A$1.69 million cash at the end of the September quarter.

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Fri, 26 Nov 2010 14:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140513/chrysalis-resources-kicks-off-drilling-on-west-angelas-iron-ore-project-12058.html
<![CDATA[News - Chrysalis Resources outlines gold in soil targets in Sheeza Project ]]> https://www.proactiveinvestors.com.au/companies/news/140512/chrysalis-resources-outlines-gold-in-soil-targets-in-sheeza-project-5398.html Chrysalis Resources (ASX: CYS) has found high tenure gold in soil values, (gold values with an amount equal to or greater than 10 times normal ‘background’ levels) in both Target Area C and Target Area F of the ‘Sheeza’ Project.

The project is located within the world class Kalgoorlie gold province, approximately 75 kilometres northwest of the city of Kalgoorlie-Boulder.

An infill soil programme, together with the additional soil sampling of Target Zones B & E, has now been completed. Samples from this programme have been delivered to the assay laboratory for analysis. Results are currently pending.

When to hand, these fresh results will be used to further quantify target horizons ahead of planned RAB and RC drilling programmes at both locations.

An application to drill test these areas has now been lodged with the Department of Minerals and Petroleum. This application is currently proceeding through the normal regulatory processes.

Soil samples were collected on an 80 metre north by 40 metre east-west orientated grid covering the respective target area. Only target zones A, C, D, F, G and H were investigated by this initial programme.

The sampling method employed by the Company focused on targeting the ‘calcrete in soil horizon’. This horizon is typically found approximately 20 – 50 centimetres beneath the natural surface of the land.

This particular method was investigated by CSIRO and shown to be an effective tool in gold exploration in the Eastern Goldfields. It is particularly useful in areas of limited outcrop or where the prevailing geology is concealed beneath a blanket of soil cover.

Southern Geoscience Consultants were commissioned to conduct a comprehensive geophysical assessment to search for any potential ‘blind’ gold bearing host environments that may likely be present within project boundaries.

The ompany will is looking to receive appropriate regulatory approvals to enable drill testing of the various gold anomaly target zones to commence.

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Thu, 04 Mar 2010 12:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/140512/chrysalis-resources-outlines-gold-in-soil-targets-in-sheeza-project-5398.html
<![CDATA[News - Chrysalis Resources makes more gold discoveries at Pioneer Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/140511/chrysalis-resources-makes-more-gold-discoveries-at-pioneer-gold-project-2346.html Chrysalis Resources (ASX: CYS) has drilled a further 27 holes at the Spongelite Prospect, north of Norseman in Western Australia.

Spongelite is part of the Pioneer gold project.

What set the stock alight in the past week has been the promise that, current high grade gold drill results are near surface, and might get even more interesting at depth - based on the geology of nearby Avoca Resources' Higginsville mine and Norseman mine.

As well, the recent drilling has extended the area of known mineralisation to 360 metres north/south and 70 metres east/west. Only nine holes in this drill program were greater than 120 metres in depth.

Drilling also intersected a parallel mineralised zone to the east of the oxide mineralisation.

Better intersections in the Oxide Zone included:

- 4m @ 12.59 g/t AU from 15m-19m
- 1m @ 7.49 g/t AU from 35m-36m
- 7m @ 2.77 g/t AU from 21m-28m

In the primary zone:

- 5m @ 4.18 g/t AU from 141m-146m
- 1m @ 6.85 g/t AU from 67m-68m
- 5m @ 2.75 g/t AU from 88m-93m

The second aim of drilling was to intersect the primary mineralisation below the water table.  Several holes intersected this zone.  The company will analyse the current data to determine further exploration.

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Mon, 24 Aug 2009 12:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/140511/chrysalis-resources-makes-more-gold-discoveries-at-pioneer-gold-project-2346.html