The sweetest word in mining is a bonanza. Oriole Resources (ORR), the AIM-quoted exploration company focussed on West Africa, announced results from the recently completed Phase 3 diamond drilling programme at its 90%-owned Bibemi gold project in Cameroon.
By Zak Mir
The programme was focussed on infill and extensional drilling at the Bakassi Zone 1 prospect and has delivered mineralised intervals of up to 9.20 metres grading 1.31 grammes per tonne gold and 2.10m grading 19.04 g/t Au including a bonanza intersection of 1.10m grading 36.06 g/t Au (bonanza grade being defined as being equal to or greater than 31.10 g/t Au, therefore 1 troy ounce per tonne).
Petra Diamonds (PDL) announced that Jon Dudas has been appointed as an independent Non-Executive Director of the Company, effective 1 March 2022. Dudas is currently Chairman of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, which he joined in 2020. Prior to this, he was independent Non-Executive Director and Chairman of the National Atomic Company Kazatomprom, whilst an IPO and LSE/AIX dual listing of the world’s largest natural uranium mining company was concluded.
i3 Energy (I3E), an independent oil and gas company with assets and operations in the UK and Canada, announced its March 2022 dividend totaling £1.1827 million and confirmed a dividend of 0.105 pence/share.
Totally (TLY), the provider of healthcare services across the UK and Ireland, has been awarded a contract extension to deliver NHS 111 services across Staffordshire and Stoke-on-Trent for a further year. The contract extension, awarded to Vocare Limited, part of Totally’s Urgent Care division, will run from 1 April 2022 at a value of c. £7 million.
Itaconix (ITX), a leading innovator in plant-based specialty polymers, announced that it has supplied product for the first production trial using the Company’s plant-based superabsorbent, VELAFRESH® SAP80. VELAFRESH® SAP80 is being trialed by a leading supplier to companies that produce baby diapers, feminine hygiene products, adult diapers, and industrial absorption products.
African Pioneer (AFP), the exploration and resource development company, updated on the 85% owned Ongombo Copper Mine Project situated in Namibia. The company said all of the fundamentals for the Ongombo Copper Mine project are in place. The technical team visit was designed to identify potential negative issues and seek out opportunities within the project. The visit was said to be very productive and AFP is of the opinion that the mine can be fast tracked as soon as it has received the mining licence.
Hummingbird Resources (HUM) updated on its extensive and completed 2021 exploration drilling programme at the Yanfolila gold mine in Mali from the Sanioumale East and greenfield deposit, BBC. The Company notes that these assays are the final to be received from the Yanfolila 2021 drilling programme, which totalled c.48,000 meters. The results from the programme are now being analysed and will be included in an updated 2022 company Resources and Reserves statement, scheduled to be released in Q2 2022.
Helium One Global (HE1), the primary helium explorer, announced the results of Quantitative Evaluation of Minerals by Scanning Electron Microscopy study on drill cuttings collected from the Tai-1/-1A wells at its Rukwa project area. The company said the identification of claystones within a predominantly reservoir rich and sandy sequence offers potential sealing horizons throughout its target stratigraphy. Claystone units are best developed at the Top Karoo Group and Base Lake Bed Formation, however several intraformational clays also allow the potential for stacked seals to develop within these formations and helium to be encountered on multiple horizons from near surface to basement – as it was at Tai. Answers on a postcard in terms of what this means to those not in the Helium discovery business.
Caracal Gold (GCAT), the gold producer with operations in East Africa, updated on its operations and exploration activities in East Africa for the quarter ended 31 December 2021. The company said it is 100% committed to growing its gold mining business in East Africa. It has acquired game-changing gold projects in Tanzania, the Nyakafuru and Simba Gold Projects, which have proven high-grade shallow gold resources and historical mining and development studies, allowing it to accelerate their developments.
Capital Metals (CMET) announced its intention to raise gross proceeds of approximately £1,250,000 by means of a proposed placing at 7.5 pence, a discount of approximately 13 per cent to the share price on 8 February 2022.
Castillo Copper (CCZ), a base metal explorer said it undertook a strategic review and determined modelling up a JORC 2012 mineral resource estimate for cobalt, across the BHA Project’s East Zone, was now the key priority. As a result, the previously announced intent to list the BHA Group on the ASX has been deferred.
Chaarat (CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, announced its production and operational results for the full year ended 31 December 2021. The Company has exceeded its 2021 production guidance at its Kapan Mine in Armenia, however the development of the Tulkubash project was impacted by the events around Centerra Gold’s Kumtor mine and ongoing COVID-19 pandemic in the Kyrgyz Republic.
Lexington Gold (LEX), the gold exploration and development company, announced assay results received in respect of the first 11 drill holes from the Company’s Reverse Circulation drilling programme at its Carolina Belle Project. Results for the remaining 21 drillholes will be announced in due course once received from the SGS laboratory in Vancouver.
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