Another week of news flow in the resource sector, but that is what it is for most weeks.
Eurasia Mining PLC (LON: EUA) announced that Eurasia has incorporated a 100% beneficially owned subsidiary, Kola Nickel LLC, following the Tier-1 Scale JORC Mineral Resource Estimate produced by Wardell Armstrong International (“WAI”) at NKT, a nickel mine formerly operated by Norilsk Nickel.
Christian Schaffalitzky, Executive Chairman of Eurasia commented: ” The Directors are focused on further prioritising nickel as Eurasia’s main metal, while we consolidate formerly operating nickel mines in one subsidiary company. We continue to observe significant interest in nickel dominant mines, especially in the ones closer to production like formerly operating NKT and Nyud brownfields relaunch “.
James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “The Board members are looking forward to finalising the consolidation of formerly operating nickel mines on the Kola Peninsula. Splitting our nickel, PGM and hydrogen projects into separate subsidiary companies allows us to execute on our strategy as announced”.
Scotgold Resources Limited (AIM: SGZ), Cononish mine in Scotland produced record amounts of gold concentrate in December. This was due to the resolution of issues that had been hindering its ramp-up stage.
In the fourth quarter of 2021 gold production totalled 1,508oz. 700 oz was produced from 101 tonnes concentrate in December.
Highest gold concentrate production recorded in December 2021 since first gold pour – 101 tonnes of concentrate produced equating to c.700 ounces of contained gold (c.60% increase to Company’s previous best monthly concentrate production).
Anglesey Mining PLC (LSE: AYM) is involved in the exploration and development of its Parys Mountain Project, North Wales, which contains significant amounts of polymetallic zinc and copper, lead and silver deposits. The deposit includes a head frame, a 300-metre deep production shaft, planning permission, and freehold ownership. Anglesey also supports the Grangesberg Iron Ore Project, which is located in Sweden.
Orosur Mining Inc (AIM: OMI) Brazil Update, signed a Joint Venture (JV) agreement with Meridian Mining UK Societas (TSXV: MNO), to earn 75% equity interest by investing US$3m over four years
The JV terms are largely in line with those indicated in the Letter of Intent (“LOI”) signed and announced on July 7th 2021, in which the Company can earn an equity interest of 75% in the Ariquemes project by spending US$3m over a four-year period, in two phases.
1. Phase 1 – earn 51% interest by spending US$1 million over a 24-month period.
2. Phase 2 – earn an additional 24% interest by spending US$2 million over a subsequent 24-month period.
Power Metal Resources PLC (AIM: POW) update on its uranium portfolio which includes seven 100% owned interests (the “Portfolio” or “Properties”) covering 411.96km2 surrounding the Athabasca Basin in northern Saskatchewan, Canada.
Trident Royalties PLC, (AIM: TRR) received its first cash from a portfolio that Orion Resources acquired earlier this week. It was worth close to US$70mln.
Trident, a Royalty Specialist, acquired 1,858 ounces of gold. It was then sold at a margin of $30.68/oz to generate cash of US$57,000.
Cadence Minerals PLC (AIM: KDNC) Project & Corporate Updates. Presentation Q&A, announce that the completion and filing of the required contractual and regulatory documentation are proceeding as planned and we currently expect to finalise this in the first two weeks of next month.
Cadence has already begun work on the next investment phase to earn an additional 7% of Amapa for US$3.5 million. These funds will be primarily used to progress the pre-feasibility studies on the asset.
Castillo Copper Ltd, (LSE: CCZ) decided to pursue the battery mineral potential at Broken Hill Alliance (BHA), Project in NSW after promising assay results.
The East Zone of the project has received a new geological report that highlights the potential for exploration in cobalt-copper/zinc and potentially lithium mineralisation.
Panthera Resources PLC, (AIM: PAT), has completed drilling operations at the Bassala Gold Project in Mali.
Air core drilling of 8,546 meters was done across 152 holes. Composite samples were sent for analysis.
Commenting on the announcement, Mark Bolton, Managing Director of Panthera said:
“The previous drilling at Bassala returned excellent results including 10m @ 3.79g/t Au from 20m and 10m @ 3.45g/t Au from 60m, suggesting potential for significant, moderate to high-grade gold mineralisation. That programme only tested the southern and central parts of the current tenement.
Power Metal Resources PLC (AIM: POW) announced that it renewed key prospecting licenses at the Molopo Farms Complex project, southwestern Botswana.
The MFC Project has a 40% interest and the junior owns a 20.65% interest in Kalahari Key Mineral Exploration, which holds the remaining 60%.
Caracal Gold PLC, LSE: GCAT), has appointed Paul Reeves chief financial officer and Riaan Lembaard general manager (GM), of its Kenyan Kilimapesa Gold operations. This appointment takes effect on February 1.
Reeves is a chartered accountant and has extensive financial experience in the mining sector. He was primarily a financial controller, but also acted as a financial consultant, mostly in Africa.
Chief executive of Caracal Gold Plc, Robbie McCrae, said: “These two key appointments will help bolster the Caracal Gold team not only on the ground at our producing Kilimapesa gold mine as we advance it to the next phase of its expansion but also at our corporate headquarters.
Galileo Resources Plc (AIM: GLR) advise the establishment of a project team that has commenced work on the compilation of historical drilling records in relation to the newly acquired JV over the Luansobe Copper Project, Zambia.
Colin Bird Chairman & CEO said: “The initial review of the project suggests that potential exists for a large stand-alone mine since all data suggests that the body is open to depth with considerable strike. We will move aggressively forward with determining the tonnes and grade available for an oxide open pit since this gives us early access to cash flow.
Caerus Mineral Resources (LON: CMRS), provide shareholders with an update on both recent exploration results and work programmes and objectives for the year ahead.
Power Metal Resources plc (LON: POW), announces that the two Prospecting Licences (“PLs”) comprising the Tati Project (“Project”) have now been successfully transferred into Tati Greenstone Resources Pty Ltd (“TGR”), a wholly-owned private Botswana-based subsidiary of Power Metal.
Panthera Resources Plc (AIM: PAT), announced that assay results from the 2,430-metre air-core (AC) drilling programme completed in December 2021 have now been received and assessed.
Commenting on the announcement, Mark Bolton, Managing Director of Panthera said:
“Extensive historic gold mineralisation has been identified by previous explorers at the Kalaka Project, with drill intercepts of 249.3m @ 0.54g/t Au from 52m (to end of hole) including 8m @ 3.17g/t Au from 107m at the K1A prospect.
This mineralisation has a strong Induced Polarisation (IP) chargeability high associated with it due to disseminated sulphides in the alteration zone.
Alien Metals Ltd (LSE AIM: UFO), an update on findings and results on its Phase 3 drilling programme at the Company’s Hancock Iron Ore project, part of its Hamersley Iron Ore Project, Western Australia.
Progress on the Company’s Iron Ore Company of Australia (‘ IOCA’) project continues to advance rapidly. The completion of the RC programme, bulk sample and new rock chip sampling before the start of the wet season was a terrific effort by the team and a great outcome for investors.
Botswana Diamonds (AIM: BOD) announced that a preliminary kimberlite assessment has been completed on its Thorny River diamond prospect in South Africa.
Alba Mineral Resources plc (AIM: ALBA) announces that a pitting and sampling programme is scheduled to commence shortly at the historic waste rock dump at the Clogau-St David’s Gold Mine, where an initial sampling exercise in 2021 returned gold grades of up to 9.89 g/t.
Bluejay Mining PLC (AIM: JAY) announced that further to the announcement dated 27 September 2021 the exploration programme for 2021 at the Enonkoski nickel-copper-cobalt (‘Ni-Cu-Co’) project in eastern Finland has now been successfully completed with the Company’s joint venture (‘JV’) partner Rio Tinto Exploration Finland Oy (‘Rio Tinto’).
Power Metal Resources PLC (LON: POW) announces that mobilisation has successfully commenced for the Company’s inaugural diamond drilling programme on the Haneti Project (“Haneti” or the “Project”) located in central Tanzania.
Harvest Minerals Ltd (AIM: HMI) Q4 and FY 2021 KP Fértil® Sales Performance and 2022 Guidance.
Brian McMaster, Chairman of Harvest, said: “2021 was a breakout year for Harvest. Our annual sales performance has grown exponentially over the last three full years as the quality and value of our product has been recognised by the market.
Cora Gold Limited, (AIM: CORA) update on Environmental, Social and Governance (‘ESG’) activities underway in Mali, including the appointment of dedicated ESG personnel, as its Sanankoro Gold Project moves towards the completion of a Definitive Feasibility Study (‘DFS’).
ECR Minerals plc (LON: ECR), announced that it has submitted an application to renew current exploration license EL006184 for an extended five-year term.
ECR Chairman David Tang commented: “We are pleased to report that ECR has completed the application to renew Creswick exploration license EL006184 for an extended five-year term. Together with our recently approved licence EL006907 covering the Ballarat East Nerrina Goldfield, this area provides access to the Dimocks Main Shale strike zone, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.”
“I look forward to providing further updates once our drill team and equipment return to Creswick”
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