Tag: Focus Minerals

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Morning News Bites – September 21

1.62 million collected JobSeeker and Youth Allowance unemployment benefits in August. Perenti Global advises that Fitch Ratings has provided the company with a BB rating, Perenti is rated BB by Standard & Poor’s and Ba2 by Moody’s. Net Zero emissions by 2050 is achievable according to a road map set to be released this week by the Scot Morrison government.

Focus Minerals and Lithium Australia has ended its Coolgardie Rare Metals Venture for a group of tenements known as the “Nepean Group”. As part of the ending of the venture, the Coolgardie Rare Metals Venture is terminated and the parties mutually release each other from any and all associated claims and;Focus transfers Lepidolite Hill tenements P15/5739, P15/5574 and P15/5575 to Lithium Australia in exchange for the grant of a royalty equal to 20% of the statutory royalties payable the State of Western Australia in relation to those tenements.

An upgrade to the Adelong Gold Processing Plant in New South Wales is set to take place for 3D Resources after awarding a contract to Timora to provide specialised Engineering, Procurement, Construction and Management Services. 3D Resources Chairman Ian Hastings said “The Company is pleased with the progress since acquiring the Adelong Gold Project and this step to commence the upgrade of the plant is particularly significant. The Company has always aimed to recommence production as soon as possible and upgrading and reconfiguring the plant is one of the most important steps in that process The work and reviews to date have generated substantial understanding of the project which will drive the plant upgrades now underway.” The contract’s finalised plans include a recommendation to more than double the plant capacity with a view to initially improving the economies of scale during a single shift operation as well as providing the additional capacity for use as the increased resources are brought into the mining plan.

The maiden drilling intercepts at Mandilla – 20km south west of Kambalda WA, for Enterprise Metals have been released. The best initial aircore result of 4m @ 1.8g/t from 40 metres and was supported by anomalous gold and gold-indicators such as arsenic in the weathering profile. According to Enterprise Metals, The August drill program was confined to the eastern side of the highway and clear of the Kambalda-Esperance High Pressure Gas Pipeline and east of private land around the Mandilla homestead. 121 shallow vertical holes were drilled for a total of 2,408 metres.

A southern plunge at The Hub Deposit for NTM Gold has been detected at the Redcliffe Gold Project near Leonora in WA. The latest diamond drill hole testing the mineralisation down plunge at the Hub deposit has increased the vertical continuity of the high-grade material, returning: 7.5m @ 8.1 g/t Au from 405.6m, incl. 4.4m @ 12.2 g/t Au. Hole 20RDD004 is approximately 65m vertically above the first hole testing the southerly plunge, 20RDD003, which previously returned: 6.5m @ 7.0 g/t Au from 459m, incl. 2.5m @ 12.2 g/t Au. According to to NTM Gold Managing Director Andrew Muir “This latest intercept confirms and extends the mineralisation seen in the 20RDD003 and validates the presence of the southern plunge at Hub. The next few holes will continue to test the mineralisation and will provide a good insight into the dimensions of the high-grade mineralisation. The grades and widths intersected are excellent and highlight that the deposit has outstanding upside beyond the shallow high-grade oxide mineralisation.”

Lake Lefroy – Lefroy Exploration

 

A diamond drill program is underway on Lake Lefroy with Lefroy Exploration and Joint Venture partner Goldfields. An update to the program, which commenced in July has been provided, with Lefroy Exploration Managing Director –  Wade Johnson excited about a second drill rig being added. “The addition of a second drill rig and the commencement of diamond drilling in Lake Lefroy to accelerate exploration is exciting news. The multiple large regolith gold anomalies over a prospective stratigraphic rock package in the vast area of Lake Lefroy requires the drill-based commitment and experience that than GoldFields can bring. We are very supportive of the exploration methodology being undertaken by
our partner and keen to see the outcome from this phase of drilling” he said. The drilling program is part of a 9000m multi-target drilling program expected to be completed in October 2020 with results soon after.

 

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Morning News Bites – July 15

Woodside has posted a record production, Afterpay launches in store in the US and artist Banksy has been a rat…. painting rats on the London Underground with a COVID-19 flavour.

A worker has died after being involved in an incident at Saracen Minerals Dervish mine at Carosue Dam. Saracen Managing Director Raleigh Finlayson expressed the Company’s deepest sympathy to the worker’s family, friends and colleagues. “This is an extremely tragic accident and all our thoughts are with his family at this very difficult time”, Mr Finlayson said. “The health and safety of our people is always our first priority. Saracen is currently working closely with the WA Department of Mines, Industry Regulation and Safety on the continuing investigation, while working with our contract partners to ensure full support is provided to the family and all Saracen employees and contractors.” Processing operations have recommenced with underground  and open pit to commence imminently. Saracen has announced the Company’s other operations are continuing as normal. Saracen’s FY21 production guidance remains unchanged.

Lynas Corporation’s Kalgoorlie facility is on the way to construction with Metso Outotec awarded the contract for Kiln construction. The 110 metre long, 1500 tonne kiln is the largest and longest lead time piece of equipment required for the plant’s operation. Lynas Corporation Managing Director Amanda Lacaze said “The kiln is the longest lead time item for our Kalgoorlie project and placing this order is an important milestone in the development of our new processing plant in Kalgoorlie. We are making good progress on the project, and we look forward to working with Metso Outotec on the engineering and supply of the kiln.” Construction will begin immediately with components from Australia and Europe. The contract is valued at approximately USD 15 million (AUD 21.6 million), including the discharge housing, combustion chamber and burner, motor control stations and delivery to Kalgoorlie.

GR Engineering Services has been awarded a contract for engineering, procurement and construction for the restart at the Ora Banda Mining Davyhurst Mine. The contract price worth $10.8 million includes refurbishment, optimisation and recommissioning of the existing 1.2 Mtpa Davyhurst Gold Processing Plant, borefields and associated infrastructure. Work will start immediately and Managing Director of GR Engineering Geoff Jones, said the company is excited to be working on the project. “GR Engineering is pleased to have been awarded the EPC contract for the Davyhurst Restart Project. We are excited to be working with Ora Banda’s management team and look forward to Ora Banda becoming Australia’s newest gold producer.” he said.

Stavley Minerals has divested its interests Mathinna/Alberton and Lefroy Goldfields tenements. as well as its Fosterville East tenement in Victoria to Nubian Resources Ltd for A$2.5 million in Nubian shares and cash. Executive Chairman Chris Cairns gave some insight into the divestment “The Fosterville East tenement is located just 10km to the east of the Fosterville mine, while the geology of the Mathinna/Alberton and Lefroy goldfields is the same sequence of sediments as those in central Victoria extending under Bass Strait into north-eastern Tasmania,” he said. “We are fully focused on defining the extents of the exciting Cayley Lode high-grade copper-gold-silver discovery at the Stavely Project, while also unlocking the full potential of this highly prospective, multilayered exploration opportunity for our shareholders,” While Mr Cairns also discussed the upside Stavely will retain significant exposure to the future upside from any exploration success via a significant shareholding in Nubian at a time of significant investor interest in the Victorian gold exploration industry in the North American market.”

Focus Minerals has revealed recent shallow drilling campaigns, which will deliver a 213% increase in total Mineral Resource at Beasley Creek South. The best intersect being 17m at 9.28g/t Au from 168m. This recent campaign has adjusted the total Mineral Resource to  1.014MT at  3.55g/t for a total of 115,761oz. The target for Beasley Creek has now also been adjusted to 1.8Mt to 2.0Mt at 2.6 g/t to 3.6 g/t Au for 150Koz to 243Koz. Focus Minerals’ CEO, Mr Zhaoya Wang said “The combination of Beasley Creek South and Beasley Creek could potentially deliver Focus a low CAPEX and OPEX operation in Laverton, which could accelerate the progress of achieving the Stage 2 production plan in Laverton. With the Stage 1 Laverton pre-feasibility study underway, we are looking forward to seeing what Laverton bring to our stakeholders for the near term.”

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Morning News Bites – July 9

After yesterday announcing a 7.5c dividend due next week, Northern Star finished the day up 90c. Busiest month ever for luxury car sales and Test cricket returned overnight.

Rio Tinto has announced it will close its New Zealand Aluminium Plant – Tiwai Point Aluminium Smelter. A date of August 31 2021 has been announced as the wind-down of operations. “We’re very disappointed to have played our part in delivering these savings for one of the greenest smelters in the world and to have such limited engagement from Rio Tinto. We urge Rio Tinto to seriously consider the offer for improved electricity supply and encourage them to consider what is right for Southland, for New Zealand and for their own global environmental commitments.” Said Contact Energy CEO Mike Fuge. Contract Energy are an energy supplier in New Zealand.

Black Cat Syndicate has had a busy start to the financial year with drill results from its Bulong Gold Project bringing about high grade results and approval granted for a Pit at Myhree. The results from drilling at Bulong have returned with highlights of 8m @ 26.43 g/t Au from 55m, 10m @ 5.60 g/t Au from 10m and 1m @ 12.70 g/t Au from 42m. According to MD Gareth Solly “The continued shallow, high-grade results bode well for early cashflow from potential mining operations at Myhree. These results infill the existing Resource and are among the best widths and grades to date. This is testament to the robust nature of the Myhree deposit.” While approvals for the Stage 1 Open Pit have been granted and recent drilling has seen some encouragement in the East West structure. “In addition, an important step in our objective to develop Bulong has been achieved with the full approval of the Stage 1 Open Pit at Myhree. We also saw some encouragement from an east-west structure at Myhree and 600m north of Trump north that requires follow up. RC drilling to further test and extend these areas will recommence during August 2020. In the meantime, diamond drilling of the deeper Mhyree mineralisation, is currently underway.” Mr Solly said.

New high grade gold lode has been uncovered by Classic Minerals at Kat Gap. Best results from recent drilling uncovered 4 metres grading 76.72 grams per tonne gold from 79 metres 9 metres grading 8.69 grams per tonne gold from 14 metres. CEO of Classic Minerals Dean Goodwin said “This new very high-grade intersection out into the granite is an exciting development for the Kat Gap Project. We decided to extend some of our planned drill holes west of our current drill pattern to see if further gold lodes were lurking out in the granite. We were right. Now we just have to work out what orientation this new lode is running at. We had a feeling something was out there as we had a handful of old historical drill holes along strike that had a few lower grade sniffs out in the granite. This new intersection really bodes well for our future drilling programs that will be conducted out in the granite following up the historical auger geochemical anomalies.” Kat Gap is located Kat Gap approximately 70km south-south east of the Company’s Forrestania Gold Project.

Focus Minerals has announced the new JORC 2012 Minerals Resource for the Greenfields gold deposit. A total Mineral Resource has been announced as 139,123oz (measured and indicated) That has been completed after an overhaul of the Greenfields open pit resource model and has delivered an 81% increase in Mineral Resource. Focus Minerals’ CEO, Mr Zhaoya Wang, said: “On behalf of the Board of Directors, I would like to commend the team for the diligent work in reexamining historical data of Greenfields. We look forward to what the new PFS could bring to Coolgardie.  At the same time, Focus is continuing its exploration efforts at our 100%-owned Laverton Gold Project. In line with our stated commitments, the Laverton PFS study will be completed by December 2020. The Greenfields Ore Reserve in the 2017 PFS should not be relied upon as it was built on the previous resource model. The updated PFS will be completed in early August, which will provide the updated ore reserve numbers.” Greenfields is 3.8km from Coolgardie is Western Australia.

Julimar is becoming a hive of activity for Chalice Gold and recent drill results including 3.9m @ 1.7g/t Pd, 0.4g/t Pt, 0.5g/t Au, 0.1% Ni, 0.7% Cu, 0.02% Co from 314.9m to end-of-hole  including: 10.1m @ 2.9g/t Pd, 0.6g/t Pt, 1.2g/t Au, 0.1% Ni, 1.3% Cu, 0.01% Co. These results point to a new style of PGE-copper-gold mineralisation at Gonneville. Two RC and a diamond drill are on site and continuing with a drill program at the Gonneville Intrusion. The Intrusion hosts both extensive high-grade PGE-Ni-Cu-Co zones in massive/matrix/stringer sulphides and widespread PGE mineralisation in disseminated sulphides. Current and future activities include an approx 20,000m Phase 2 RC drill program is underway utilising two rigs, a diamond drill program which will continue to step-out from known high-grade zones and test new DHEM targets, Metallurgical testwork, EM Geophysics and the ability to access approvals.