Share Talk Weekly Mining Sector News – 11th September 2021

It’s been another busy week across London’s junior mining sector.

MetalNRG plc, (AIM:MNRG), provided an update on progress made at its 100% owned GoldRidge Gold Project in Arizona. Rolf Gerritsen, the CEO, commented “The GoldRidge Project appears to offer a considerable larger opportunity than previously anticipated and the work completed to date by Bart confirms that the area has been underexplored and underdeveloped with solid indicators of mineralisation throughout the property.

Cora Gold Limited (AIM:CORA) DFS contractors appointed for Sanankoro Gold Project in southern Mali. The advancement of the DFS follows the consistently encouraging results from the Company’s largest-ever drilling campaign at Sanankoro with an updated Mineral Resource Estimate (‘MRE’) to follow in Q4 2021

Completion of the DFS is targeted for H1 2022 following the expansion of the ongoing drill campaign and focus now on a CIL process route

Mkango Resources Ltd (MKA.TSX.L) TR-1: Standard form for notification of major holdings

Asiamet Resources Limited (AIM:ARS) provided an update on the resource extension and exploration drilling in progress on its 100% owned KSK Contract of Work (KSK-CoW) located in Central Kalimantan, Indonesia. Geological review confirms the BKM copper and BKZ polymetallic Zn-Pb-Ag-Cu-Au deposits are part of the same 3km long Volcanic Hosted Massive Sulphide system (VHMS).

3,000-metre drill program underway to test priority exploration targets and expand the current JORC Compliant Resources. A comprehensive review of the geology and exploration potential adjacent to the current Minerals Resources and Ore Reserves (Appendix 1) was recently completed by Asiamet’s Chief Consulting Geologist, Patrick Creenaune.

Power Metal (AIM:POW) Sale of Power Metal’s Schreiber-Hemlo project interests to First Class for £1 million consideration payable through the issue of 333,334 new ordinary shares of £1 each in First Class Metals Ltd (“First Class Shares”) at a price of £3 per share.

First Class is a UK private company with an existing portfolio of interests in the Schreiber-Hemlo region held through its Canadian operating subsidiary First Class Metals Inc. and is currently seeking a listing on a recognised stock exchange in London, targeted for late 2021.

Panther Metals PLC (AIM:PALM) Australia – Appointment of Brokers and Australian Capital Raise. The company announced that its Australian subsidiary Panther Metals Limited (“PML”) has appointed Sanlam Private Wealth Pty Ltd and Kerr Allan Financial Ltd as joint lead managers as PML moves towards listing PML on the Australian Securities Exchange (the “ASX” or “ASX Exchange”).

PML has also raised $300,000 Australian dollars to fund the listing process. As a result of the financing, the interest of Panther Metals p lc in PML , has reduced from 89% to 77%.

Caracal Gold plc,(AIM:GCAT) announced an update on operations at its producing Kilimapesa Gold Mining and Processing Operations in Kenya, where it is advancing a phased mine optimisation strategy.

Robbie McCrae, CEO of Caracal, said, “Having listed at the end of August 2021, we’ve hit the ground running across every aspect of our gold mining and exploration business. Excellent progress is being made at our flagship asset, the Kilimapesa Gold Mine in Kenya, where we are fast-tracking a mid-term optimisation plan focused on increasing gold production to 25,000oz p.a.

Panthera Resources Plc (AIM:PAT), announced that the next batch of assay results from the recent air-core (AC) drilling programme at Bassala have been received. These have confirmed the presence of additional significant gold mineralisation including the highest grade assays received to date comprising 5 metres at 6.59g/t Au.

Orosur Mining Inc (AIM:OMI) announced that it has been informed by its Colombian Joint Venture (“JV”) partner, Minera Monte Águila SAS (“Monte Águila”) that it has elected to exercise its right to assume operatorship of the Anzá Project in Colombia. Monte Águila is a 50/50 JV between Newmont Corporation (“Newmont”) (NYSE:NEM, TSX:NEM) and Agnico Eagle Mines Limited (“Agnico”) (TSX:AEM), and is the vehicle by which these two companies jointly exercise their rights and obligations with respect to the Exploration Agreement with Venture Option (“Exploration Agreement”) over the Anzá Project.

The Anzá Project now moves into its fourth year of Phase 1 during which time a further US$4 million is required to be spent pursuant to the Exploration Agreement.

TPI provides its latest research note on Orosur Mining Inc (OMI.L).

Greatland Gold PLC (AIM:GGP), stated that high-grade copper and gold were found in areas outside of the original resource area at the Havieron deposit, Western Australia.

With nearly 200,000 metres of drilling now completed, including extensive Growth Drilling in recent months, we have significantly enhanced our understanding of the orebody and the likelihood of delivering an upgrade to the Mineral Resource Estimate in the near term said Shaun Day, Chief Executive Officer. Six of the 12 new holes returned significant assay intercepts exceeding 100-gram metres.

SolGold PLC (SOLG.TSX.AIM) Drilling encounters high-grade zone at Tandayama-Ameríca, Cascabel. The company provided an update on its Tandayama-Ameríca (“TAM”) porphyry copper-gold deposit which lies approximately 3km north of the Alpala deposit that comprises 2,663 Mt at 0.53% CuEq [1] in the Measured plus Indicated categories and contained metal content of 9.9 Mt Cu, 21.7 Moz Au and 92.2 Moz Ag [2], at the Company’s Cascabel project, held by Exploraciones Novomining S.A. (“ENSA”), an 85% owned subsidiary of SolGold.

Arkle Resources PLC (AIM:ARK) High grade gold intersected at Mine River. Results from its sixth and seventh drillholes of the diamond drilling programme being undertaken at the Company’s 100% owned Mine River Gold Project in Wicklow / Wexford. Hole 7, (21-TB-11) was an easterly step out from the visible gold hole and intercepted multiple gold bearing zones

Hole 6 to the west did not return grades of economic interest suggesting the vein pinched out. 2.5m at 12.13g/t gold, including 51.6g/t gold over 0.5m


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