Share Talk Weekly Mining Sector News Round-Up, 28th November 2021

Eurasia Mining Plc (AIM: EUA), the palladium, platinum, rhodium, iridium and gold producing company notes recent media speculation about a listing of the ordinary share capital of Eurasia on the Moscow Exchange, while retaining its listing on AIM (“Dual Listing”).

The Board has actively explored the potential benefits of a Dual Listing, including provision of an opportunity for Russian investors to have easier access to a facility for the trading of shares in the Company, but no decision has been made yet.
 

 

Asiamet Resources Limited (AIM: ARS ) announced further strong results from recent drilling completed as part of the Company’s 2021 Resource extension program at the BKZ deposit located on its KSK Contract of Work (KSK CoW) in Central Kalimantan, Indonesia.

Drilling at BKZ continues to return high grade Zinc-Lead-Copper-Silver-Gold (Zn-Pb-Cu-Ag-Au) mineralisation and most recently also intersected strong gold-silver dominant mineralisation immediately to the east and below the base metal horizons including 29m at 4.59g/t Au, 161g/t Ag.

Panther Metals PLC (LSE: PALM) announced the signing of a purchase option agreement over four multicell mining claims (the “Properties” or “Claims”) covering a total area of 7.7km2 to supplement the Obonga Project’s 235km2 of prospective greenstone belt coverage,160km north of Thunder Bay in the Province of Ontario, Canada.

Horizonte Minerals PLC, (AIM: HZM). stated that it raised approximately £147.4mln through placings as part of a transformative finance package. This funding will fully fund the Araguaia Nickel Project in Brazil. The shares were purchased at 7 pence each.

Kavango Resources PLC, LSE: KAV) wants to increase its position in Botswana’s copper belt through two separate deals. The junior has chosen to purchase 85.2% of Kalahari key mineral exploration (KKME), which is the owner of Molopo Farms Project. Kavango also stated that it will accelerate its acquisition of a 90% share in the LVR Joint Venture (KCB) in the Kalahari Copper Belt, also in Botswana.

Kavango Resources commences the most important drilling in its history (LSE: KAV)

Also announce the commencement of drilling of the Company’s B1 Conductor Target (the “B1 Conductor”, with Hole KSZDD002. The B1 Conductor is a cross-formational, strongly conductive geophysical anomaly that has a conductance reading of 8,200 Siemens. Part of Kavango’s exploration model in the Kalahari Suture Zone (“KSZ”) is based on identifying sub-surface conductors with conductance readings greater than 1,000 Siemens. According to the Company’s model, the B1 Conductor is 475m by 550m in size, exhibits a decay constant in excess of 350ms and dips at a 60-degree angle.

Trident Royalties PLC, (AIM: TRR), stated that the Ontario Superior Court of Justice granted an order to stop a lawsuit brought forward by Lithium Royalty Corporation. This “effectively dismissed the litigation against Trident”. This case was brought against Trident’s Thacker Pass royalty arrangement.

Caracal Gold plc, (LON: GCAT) announced the arrival of two drill rigs in-country ahead of the commencement of diamond drilling (‘DD’) and reverse circulation drilling (‘RC’) programmes. This follows the renewal of Caracal’s Prospecting Licence as announced on 17 November 2021.

Bradda Head Lithium Ltd. (AIM: BHL). reported the highest results from its 2021 drilling program on Burro Creek East (BCE), an Arizona project. The first three holes revealed thicker Upper Clay intersections than expected.

Shanta Gold Ltd stated that it was encouraged to report on exploration drilling results outside of the existing mineral reserves at New Luika’s gold mine (NLGM), Tanzania.

MetalNRG (LON: MNRG), the natural resources and energy investment company, announces an update on its Arizona based Gold project, GoldRidge.

Following on from our previous announcement, regarding GoldRidge on 6th September 2021, in which we gave an overview of work completed, Bart Stryhas Phd CPG, the Company’s Senior Geologist, has made solid progress on the project.

Technology Minerals PLC, (LSE: TM1) stated that 49% of Recyclus Group’s shareholders signed a contract with Slicker Recycling to take battery waste from the UK and deliver it back to its plants. Recyclus is able to process both lead-acid as well as lithium-ion power units thanks to its unique technology. The business plans to handle 16,000 tonnes of the former, and 5,000 tonnes for the latter in the next year.

IronRidge Resources Limited (AIM: IRR, “IronRidge” or the “Company”) confirms that further to the passing of the resolution at the AGM held by the Company on 18 November 2021, the Australian Securities and Investments Commission has approved the Company’s change of name to Atlantic Lithium Limited.

From 8.00 a.m. today, Monday22 November 2021 the Company will trade under the new name of Atlantic Lithium Limited with a new Tradable Instrument Display Mnemonic (“TIDM” or “Ticker”) of ‘ALL’. The Company’s ISIN number and SEDOL will remain unchanged.

Galantas Gold Corp, (AIM: GAL), stated that it received additional high grades from its second underground bore at the Omagh project in Northern Ireland. This hole was part of a 4,000-metre drilling program at the Kearney Vein.

Thor Mining PLC (AIM:ASX: THR) said more than 45 metres (m) of tungsten-molybdenum-copper mineralisation was intercepted at the Molyhil project in the Northern Territory of Australia.

Nicole Galloway Warland, Managing Director of Thor Mining, commented: We are excited to be sharing this new discovery at our Molyhil critical metals project. Testing a new geological concept, in this case an interpreted magnetic target from 3D modelling to the south of existing mineralisation, has paid off significantly. The tungsten-molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model.

Tharisa Plc (LSE: THS), South Africa’s chrome and platinum producer reported that earnings for the year ended September 2021 were up between 128% and 134%, to between US$37-40c.

Power Metal Resources plc (LON: POW) update for the Alamo Gold Project (the “Project”), located in west-central Arizona, USA. Power Metal has the right to earn-in up to a 75% interest in the Project and full earn-in details were published in the Company’s announcement on 22 July 2020.

Oriole Resources PLC (AIM: ORR), provided an update on its Senala gold project (‘Senala’ or the ‘Project’) in Senegal, where joint venture partner IAMGOLD Corporation (‘IAMGOLD’) has the option to spend up to US$8 million to earn a 70% interest

Alien Metals Ltd. (AIM: UFO). agreed to purchase Platina Res Ltd. (ASX.PGM) and Platina Resource Ltd. (ASX.PGM))’s 30 per cent interest in the Munni Munni gold and platinum group metals project in Western Australia. The total amount of cash and shares is A$2.23mln. (PS1.2mln). Alien stated that the Munni Munni project in the Pilbara is one of Australia’s largest undeveloped primary platinum-group elements (PGE) reserves. It is also adjacent to Alien’s Elizabeth Hill project which has potential for additional significant silver, nickel, and PGE mineralisation.

Xtract Resources Plc (AIM: XTR) advised that independent laboratory assays have been received for drill hole BRDD-21-012 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

Pembridge Resources PLC, (LSE: PERE) announced that the reverse takeover to create Minto Metals Corp has been completed. Based on the price of the listing, Pembridge will own an 11.2% share in the TSX-venture quoted mining group.


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