Proactiveinvestors Australia Tychean Resources https://www.proactiveinvestors.com.au Proactiveinvestors Australia Tychean Resources RSS feed en Tue, 18 Jun 2019 04:55:01 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Tychean Resources receives EIS drilling grant for the Yampi project ]]> https://www.proactiveinvestors.com.au/companies/news/212369/tychean-resources-receives-eis-drilling-grant-for-the-yampi-project-212369.html Tychean Resources Ltd (ASX:TYK) will benefit from a $120,000 Exploration Incentive Scheme (EIS) grant to help fund a drilling program at the Yampi Nickel-Copper-Gold Project in WA.

The WA Government grant has been received by Yampi project owner IronRinger Resources, which is being acquired by Tychean.

Four diamond holes to be drilled

Funding will be applied in drilling of four diamond holes for a total of 1,200 metres at the Grant’s Find, Wilson’s Reward and CO1 overlapping Ruins Dolerite targets.

This program is expected to begin in April 2019.

“Excited to commence drilling”

Tychean’s chairman Duncan Gordan said: “This is an excellent result as the EIS grant process is highly competitive and is determined by an independent panel of experts.

“We are excited to commence drilling of the high priority nickel, copper and gold targets at Yampi.

“This is a major milestone towards realising the potential of the area.”

Competitive EIS process

The EIS grant is the full amount applied for by IronRinger and is a contribution towards 50% of direct drilling costs.

This round of WA EIS funding proved a competitive process involving 73 applicants of which only 40 were successful.

Fundamental tectonic feature defines Yampi

The King Leopold Orogen, one of the fundamental tectonic building blocks of the modern Australian continent, defines Yampi.
Major west-northwest trending faults, which are at the south of the project, define a basin margin and splays that appear to be a classic position of SEDEX-style mineralisation.

Copper in the form of gossans and veins are exposed over a 13-kilometre strike.

Historical workings identified

A large number of historical copper workings, which were explored in the 1950s, have also been identified at Yampi.

Grants Find and Wilson’s Reward sit on more than 13 kilometres of gossans, which were mined for copper before World War I.

Multiple zones of high-grade copper and gold have also been defined by selective rock sampling around workings and gossan outcrops.

- Jessica Cummins

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Thu, 10 Jan 2019 23:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212369/tychean-resources-receives-eis-drilling-grant-for-the-yampi-project-212369.html
<![CDATA[News - Tychean Resources to update on diamond acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/178517/tychean-resources-to-update-on-diamond-acquisition-178517.html Tychean Resources (ASX:TYK) has been granted a trading halt by the ASX, pending details in regards to the acquisition of Blom Diamonds.

Tychean has previously signed an agreement to acquire a 74% interest.

The halt will remain in place until the opening of trade on Friday 2nd June 2017, or earlier if an announcement is made to the market.

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Wed, 31 May 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178517/tychean-resources-to-update-on-diamond-acquisition-178517.html
<![CDATA[News - Tychean Resources shares rise on diamond company acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/172141/tychean-resources-shares-rise-on-diamond-company-acquisition-172141.html Tychean’s shares were last trading 57% higher intra-day, at $0.011.

The acquisition is the culmination of significant efforts in securing a cornerstone project and is expected to transform Tychean into a vertically integrated diamond-focused company.

Tychean will acquire a 74% interest in Blom by issuing 68.45 million Tychean shares (valued at about $752,950 as per latest price) plus 1.3 billion shares spread over the next four years on achieving performance milestones.

Based in South Africa, Blom Diamonds currently engages in the trading, beneficiation, cutting and polishing of diamonds.

It is a well-established business with a track record of over 38 years and a profitable operation that will provide a cash underpin to Tychean and distinguish it from competitor exploration companies.

Following transaction completion, it is proposed that Ernest Blom, the sole director of Blom Diamonds, will become managing director of Tychean.

Blom is a third generation member of a South African diamond family who travelled from Holland to South Africa where they co-founded the diamond cutting industry.

Blom is currently president of the World Federation of Diamond Bourses and economic diplomatic advisor to Belgium in South Africa.

The long term outlook for the diamond market is positive given rising consumer demand against constrained supply.

The majority of the world’s major diamond mines are at a mature phase and past peak production levels whilst new projects coming online are not significant in size as there has been no major discoveries in recent years.

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Wed, 25 Jan 2017 12:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172141/tychean-resources-shares-rise-on-diamond-company-acquisition-172141.html
<![CDATA[News - ERO Mining given green light to acquire gold project in the Yilgarn Craton, Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/146744/ero-mining-given-green-light-to-acquire-gold-project-in-the-yilgarn-craton-western-australia-46780.html ERO Mining (ASX: ERO) has received the necessary consents and approvals to proceed with the acquisition of the Spargoville Gold Project in the Yilgarn Craton, Western Australia, from Ramelius Resources (ASX: RMS).

The project encompasses the previously mined, high-grade Wattle Dam deposit that produced 286,000 ounces of gold at an average grade of 10.1 grams per tonne between 2006 and 2012 as well as over 11,440 hectares of surrounding tenements.

ERO views Spargoville as an advanced exploration project which is prospective for blind orogenic structurally controlled gold lode deposits, similar to Wattle Dam.

The Spargoville Project consists of a substantial tenement package of 27 granted mining leases, two granted exploration licences, five prospecting licenses and two miscellaneous licences which include 100% gold rights and various nickel rights.

It is located 60 kilometres southeast of Coolgardie and 25 kilometres southwest of Kambalda within the Coolgardie Mineral Field.

ERO is paying Ramelius 133.3 million shares for the 100% stake in the 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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Thu, 15 Aug 2013 14:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146744/ero-mining-given-green-light-to-acquire-gold-project-in-the-yilgarn-craton-western-australia-46780.html
<![CDATA[News - ERO Mining continues gold push with agreement to acquire second WA project ]]> https://www.proactiveinvestors.com.au/companies/news/146743/ero-mining-continues-gold-push-with-agreement-to-acquire-second-wa-project-45196.html ERO Mining (ASX: ERO) is acquiring a second Western Australia gold exploration licence, this time in the prolific Eastern Goldfields region, for 50 million shares worth $150,000.

Exploration Licence E15/1249 contains the Valley Floor Prospect that ERO plans to test in the second half of 2013 with a drilling program targeting interpreted structures for gold mineralisation.

ERO had earlier this week acquired the Spargoville Gold Project in the Yilgarn Craton, Western Australia, via an all scrip transaction, with around 133.3 million shares (around A$400,000) to be paid to the vendor.

E15/1249 covers 5.5 square kilometres and is located about 15 kilometres south of Kambalda.

The tenement lies to the west of the Boulder – Lefroy fault, the major gold bearing structure in the Eastern Goldfields that hosts a multi-million ounce gold camp.

The geology underlying the tenement is masked by a veneer of lacustrine overburden.

However, with technical advances in processing, aeromagnetics and gravity surveys in conjunction with data gleaned from bedrock intercepts from the limited drilling in the area, it is possible to determine that there is a high basement under the lacustrine clays dominated by Archaean felsic sediments including the biotite-bearing metasedimentary rocks of the Merougil Beds.

 

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, 04 Jul 2013 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146743/ero-mining-continues-gold-push-with-agreement-to-acquire-second-wa-project-45196.html
<![CDATA[News - ERO Mining dials into the Yilgarn gold sector with acquisition from Ramelius ]]> https://www.proactiveinvestors.com.au/companies/news/146742/ero-mining-dials-into-the-yilgarn-gold-sector-with-acquisition-from-ramelius-45039.html ERO Mining (ASX: ERO) will join the gold hunt in the Yilgarn Craton in Western Australia, with the company to acquire the Spargoville Gold Project via an all scrip transaction, with around 133.3 million shares (around A$400,000) to be paid to the vendor.

The project is also prospective for nickel sulphide mineralisation.

ERO will wholly-acquire Spargoville from Ramelius Resources (ASX: RMS), and highlighting the prospectivity of the project it encompasses the previously mined, high-grade Wattle Dam deposit - and over 11,440 ha of surrounding tenements.

The Wattle Dam underground gold mine was mined by Ramelius between 2006 and 2012, producing 880,000 tonnes at 10.1 g/t gold for around 286,000 ounces.

The potential for ERO at Spargoville is that it is an advanced exploration project which is prospective for blind orogenic structurally controlled gold lode deposits, similar to Wattle Dam.

Within the region, gold mineralisation can be traced over 30 kilometres of strike of the Spargoville Shear, where the possibility exists for extensions and repetitions to known mineralisation for the project which offer attractive targets for further exploration.

The Spargoville Project consists of a substantial tenement package of 27 granted mining leases, two granted exploration licences, five prospecting licenses and two miscellaneous licences which include 100% gold rights and various nickel rights.

The project is located 60 kilometres southeast of Coolgardie and 25 kilometres southwest of Kambalda within the Coolgardie Mineral Field.

 

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, 01 Jul 2013 15:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146742/ero-mining-dials-into-the-yilgarn-gold-sector-with-acquisition-from-ramelius-45039.html
<![CDATA[News - ERO Mining charts new path ]]> https://www.proactiveinvestors.com.au/companies/news/146741/ero-mining-charts-new-path-40803.html ERO Mining (ASX:ERO) is on the path to chart a new course as it will explore for new minerals exploration and development opportunities through value accretive acquisitions.

As a significant proportion of the current ERP assets is not viable for on-ground exploration due to permitting and approval delays, the company plans to increase shareholder value via acquisitions.

Its last quarter activity included grant of deed of access by the Defense Department for the Billa Kalina iron oxide copper gold uranium project; negotiations with potential partners over Padthaway mineral sands projects  and efforts to advance the lithium exploration at Wertaloona.

It had about $0.758 million in cash at the end of last quarter.

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, 14 Mar 2013 17:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146741/ero-mining-charts-new-path-40803.html
<![CDATA[News - ERO Mining to raise up to A$1.88m to advance lithium exploration at Wertaloona ]]> https://www.proactiveinvestors.com.au/companies/news/146740/ero-mining-to-raise-up-to-a188m-to-advance-lithium-exploration-at-wertaloona--17172.html ERO Mining (ASX: ERO) plans to advance exploration and development at the company’s wholly owned projects using raised funds of up to A$1.88 million from a non-renounceable rights issue.

The company will offer shareholders a one for five non-renounceable rights issue of 69.7 million shares at A$0.027, as at the record date on 30 June 2011.

The funding will go towards the acceleration of exploration at the Wertaloona Lithium Project, beyond the first round drilling of two fully cored reference drill holes.

The exploration project is part of two exploration licences acquired by ERO as part of its successful acquisition of unlisted mineral explorer, South East Energy Limited.

The drilling program comprises two fully cored drillholes totalling approximately 300 metres and down hole gamma surveys. The drillholes are located in close proximity to two holes drilled by Comalco in the 1970s where significant lithium levels were encountered.

ERO has submitted samples for the first drill hole to Genalysis Intertek in Adelaide, South Australia, and expects test results sometime next month.

Also, the company plans to advance development at the Tanami Project northwest of Alice Springs where high priority gold and uranium exploration targets have been identified within the recently granted Suplejack and Talbots tenements.

ERO has scheduled maiden field work to begin next month with a field crew mobilised to the area to conduct soil and rock chip sampling programs.

Existing option holders will need to exercise their options and be a registered holder of shares on 30 June 2011 if they wish to receive an entitlement to participate in the rights issue.

 

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Thu, 16 Jun 2011 09:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146740/ero-mining-to-raise-up-to-a188m-to-advance-lithium-exploration-at-wertaloona--17172.html
<![CDATA[News - Ero Mining shares spike 140% on acquisition of unlisted lithium explorer ]]> https://www.proactiveinvestors.com.au/companies/news/146739/ero-mining-shares-spike-140-on-acquisition-of-unlisted-lithium-explorer-10735.html The market today has applauded the move by uranium focused mineral explorer Ero Mining (ASX: ERO) to acquire 100% of unlisted South Australian based lithium and uranium explorer, South East Energy.

Ero shares have spiked 140% in intra-day trading at time of writing, last trading up $0.035 to $0.06, after peaking at $0.066.

Ero will acquire a package of prospective exploration acreage at Lake Frome, Lake Torrens and via its Padthaway project in the south east of South Australia.

This shows Ero's redirection in focus to exploration for lithium within continental brines and sediments of Lake Frome and Lake Torrens.

Ero said there is particular interest to test the conceptual exploration target of 8 to 10 million tonnes of lithium carbonate, equivalent of a grade range from 10 ppm to 250 ppm, at Lake Frome.

Consideration comprises Ero issuing 4.5 new Ero shares for every existing South East share, and 4.5 new Ero options for every existing South East option, exercisable on or before 31 October 2011.

Demand for lithium has experienced phenomenal growth in the past decade, which is used in the production of; glass, ceramics and aluminium, as well as for the production of lithium batteries for use in hybrid electric vehicles, mobile phones, laptops and other electronic devices.

The offer is subject to and conditional upon receipt of ERO shareholder approval.

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Tue, 12 Oct 2010 09:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146739/ero-mining-shares-spike-140-on-acquisition-of-unlisted-lithium-explorer-10735.html
<![CDATA[News - ERO Mining to sell Georgetown Gold Project in Queensland ]]> https://www.proactiveinvestors.com.au/companies/news/146738/ero-mining-to-sell-georgetown-gold-project-in-queensland-9621.html ERO Mining (ASX: ERO) has decided to commit to the sale of its Georgetown gold operations in Queensland following the review of a number of alternative strategies with respect to the project.

After receiving unsolicited expressions of interest in purchasing the operations, the company believes that the sale of the project is in the best interests of its shareholders.

Site inspections by interested purchasers are scheduled to commence in mid September 2010 and shareholders will be updated on the sale process following these visits.

Adelaide Equity Partners will be managing the Georgetown sale process.

Kevin Lines, managing director, said the planned exploration drilling program over the True Blue/Tunnels prospects will be suspended until the outcome of the sale process is clarified.

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Thu, 26 Aug 2010 14:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146738/ero-mining-to-sell-georgetown-gold-project-in-queensland-9621.html