Sovereign Metals (ASX: SVM; AIM: SVML) announced its Q1 2022 report on Friday where the company said their recent Mineral Resource Estimate (MRE) upgrade confirmed Kasiya in Malawi is the largest rutile deposit ever discovered.
@sovereignmetals (ASX $SVM; AIM #SVML) March 2022 Quarterly Report
• Kasiya confirmed as Tier 1
• New JORC resource 3x previous estimate
• Largest rutile discovery ever made
• 2nd largest flake graphite deposit in the worldhttps://t.co/qXDjeTenB7 via @share_talk https://t.co/xGPwfuCxRG pic.twitter.com/ubnw29JMFQ— Share_Talk ™ (@Share_Talk) April 29, 2022
Sovereign Metals shares rose as much as 4% on Friday following the release of their Q1 update.
Kasiya is now a Tier 1 mineral project, with the world’s largest natural rutile deposit and second-largest flake graphite deposit, according to the updated MRE.
Kasiya was confirmed as the world’s largest rutile deposit and one of the world’s largest flake graphite deposits in the revised MRE.
Berenberg said that the highlight of today’s Greatland Gold (AIM: GGP) drilling update was hole HAD145AW1. This targeted the Eastern Breccia, Intersected 150.1m at 3.75g/t gold/0.15% copper.
According to the broker, this is located 100 m east of the Eastern Breccia resource.
MIDAS SHARE TIPS: Clean up! By investing in Jubilee Metals (AIM: JLP) the mining waste firm that helps make car exhausts greener.
Jubilee Metals turns this mining waste into valuable assets, rehabilitating tailing dams and producing top quality metals through the process. The shares are 15.2p and should increase significantly in value as chief executive Leon Coetzer expands and develops the business.
Caracal Gold PLC (LON: GCAT) Interim Results for 12 months to 31 December 202. The management team is looking forward to an equally eventful FY 2022 as we advance Kilimapesa and our new projects in Tanzania
Chief executive of Caracal Gold Plc, Robbie McCrae, said: “Since our listing in September 2021 Caracal has firmly established itself as a gold producer and developer, with established operations in East Africa and over 650,000oz JORC-compliant gold resources.
Our strategy is firmly focused on building production and profitability, with an initial target of realising +50,000oz annual gold production and +3Moz JORC Compliant Resources across our portfolio. To this end we are already making strong headway; a three-phase operational plan is well underway at our flagship Kilimapesa gold mine In Kenya as we look to increase gold production to 24,000oz pa and improve efficiencies.
@KavangoRes CEO @Ben_Turney comments following Friday update: We’ve talked a lot about pioneering new technology in the #KSZ, but the work we’re doing with combined AMT & TDEM looks like it could be a complete game-changer #KAV https://t.co/wL8kLSXmFR
— Share_Talk ™ (@Share_Talk) May 1, 2022
Kavango Resources (LON: KAV) Ditau i10 update was released late Friday, with investors closely following this unfold as the JV project gathers momentum.
Kavango confirms the completion of the first diamond drill hole at the Ditau Camp Project, Botswana, hole DITDD003.
While the provenance of the breccia unit is uncertain the Company has performed some initial portable X-Ray Fluorescence (“pXRF”) readings on the matrix and larger clasts, with a view to comparing these with both carbonatitic ash flow and also unweathered Dwyka tillite.
Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE: POW). Kavango is the operator. Mindea Exploration and Drilling Services (Pty) (“Mindea”) is conducting the drilling.
Arc Minerals Limited (AIM: ARCM) Casa Transaction & Geophysics Update, another late announcement to the markets on Friday.
Updated on the progress of the acquisition of a 73.5% interest in the Misisi gold project by Regency Mining Ltd from Golden Square Equity Partners Limited (“Golden Square”).
Regency has replaced Rackla Metals Inc. as the acquiror of Misisi. The terms of the transaction are that Arc will be paid US$250,000 within 30 days of today and Regency shall procure the issuance to Arc of shares in a publicly listed company in Canada with a value of US$1,250,000 (“Consideration Shares”) on or prior to ninety (90) days from the date hereof.
Castillo Copper Ltd, (LSE: CCZ; ASX: CCZ), stated that the company’s focus for the first quarter of 2022 was to develop the East Zone, BHA Projects in Broken Hill, and Big One Deposits, NWQ Copper Projects in the Mt Isa copper belt in north-west Queensland.
The BHA Project is working on possibly “proving up” a primary Cobalt mineral resource estimate. Big One’s geology team has already mapped the next drilling campaign. This will be aimed at expanding the existing orebody.
Glencore PLC, (LSE: GLEN) lowered its full-year production guidance for copper, cobalt, and zinc, according to the mining and trading giant. It announced the quarter’s output.
Glencore stated that its Marketing activities were supported by the tight market conditions and extreme market volatility during the quarter.
Twitter Update @ThorMining Update from the field: Exploration Manager Paul Wittwer talks through the exploration activities that he and the #THR team have been conducting at the $THR's Ragged Range #Gold #Lithium Project.pic.twitter.com/nTwDtnMJZp https://t.co/ikrx9Al0oc
— Share_Talk ™ (@Share_Talk) April 29, 2022
Nicole Galloway Warland, Managing Director of Thor Mining, commented: The start of 2022 has seen positive progress made across Thor’s projects.
“After a successful first quarter, Thor looks forward to updating the market on progress made across its portfolio in 2022.”
On Thursday Caracal Gold plc, (LON: GCAT) Chief Executive, Robbie McCrae, purchased 4,050,000 ordinary shares in the Company at an average price of 1.0386p per share for a total cost of £42,062.00.
Following these purchases, Robbie McCrae owns 102,500,000 ordinary shares, representing 5.6 per cent of the issued share capital in the Company.
Greatland Gold PLC, (AIM: GGP) highlighted “tremendous” drilling results from the flagship Havieron project in Australia. This was after Newcrest Mining Ltd, its joint venture partner, released new results in its quarterly reports.
The Eastern Breccia was drilled to a depth of 100 m (m) north of previously reported high-grade mineralisation (HAD104), as well as 100 m east of the Eastern Breccia mineral resource, which is described in the updated mineral resource. The hole (HAD145AW1) yielded 150.1m at 3.75 grammes per tonne (g/t), gold and 0.15%, with 42.3m at 8.6g/t and 0.4% copper.
https://twitter.com/Share_Talk/status/1519578933208956929?s=20&t=s8MCxxPhnp6CELOOet5Hyg
Sovereign Metals Limited (ASX: SVM; AIM: SVML) On Thursday the Company requested an immediate voluntary trading halt in its shares on the Australian Securities Exchange (ASX), pending an announcement regarding a capital raising.
The Company has requested that the trading halt remains until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 2 May 2022.
Trading in the Company’s ordinary securities will continue to trade as normal on AIM during this period.
Cloudbreak Discovery PLC, (LSE: CDL). announced that it had acquired the Foggy Mountains gold-silver and copper project in British Columbia.
The project is immediately east of Centerra Gold Inc’s copper-gold Kemess Project. It lies along a mineralized corridor that contains several past-producing mines, such as Shasta, Baker, Lawyers, and Kemess.
Mkango Resources (AIM/TSX-V: MKA) Announces Results For Quarter & Year Ending December 2021.
The Financial Statements and Management’s Discussion and Analysis are available under the Company’s profile on SEDAR (www.sedar.com) and on the Company’s website (http://www.mkango.ca/s/financials.asp).
Highlights for the three months ended December 31, 2021, include:
The Feasibility Study for Songwe is expected to be completed in the second quarter of 2022. The comprehensive loss for the three months ended December 31, 2021, was $3,671,355 compared to $837,938 for the three months ended December 31, 2020.
This increased loss resulted primarily from mineral project expenditures which increased in the current three months by $1,183,771 compared to the three months ended December 31, 2020, as work on the Songwe Hill Feasibility Study continued.
It’s all to play for at the Ditau JV project as KAV and POW launch a rare earth drill campaign
Empire Metals Ltd. (AIM: EEE) stated that it raised £1.7mln through a stock placement at 2p per share.
The new cash will be used for drill programmes at the Eclipse and Gindalbie Western Australian projects.
Great Western Mining Corp PLC (AIM: GBX) will begin its 2022 drill program in the next few weeks, according to the exploration and development company.
It provided details about the 2022 drilling campaign and stated that it was funded.
ECR Minerals plc (AIM: ECR) Increases Shareholding in Danglay Gold Project From 25% to 70% following an agreement with Philippines based company Cordillera Tiger Gold Resources, Inc.
In which ECR has a 25% shareholding, the Cordillera Chairman & Vice President Ludevico Estacio has agreed to sell his shares (1,499,996 in total) to ECR Minerals.
https://twitter.com/Share_Talk/status/1519205628119506946?s=20&t=s8MCxxPhnp6CELOOet5Hyg
ECR CEO Andrew Haythorpe added: “Although I have yet to visit the Philippines and view the Danglay project first hand, I am very much aware that not only did Cordillera renew license EP-006 in July 2021 for a further two years, but alongside Cordillera, ECR engaged in a Community Development Programme in the Danglay area to foodpack assistance to families affected by COVID19.”
Ariana Resources PLC, (AIM: AAU), was granted three exploration licenses in Kosovo. They cover a total area of 239 km. It is located near the Stanterg Mine which has historically been the largest lead-zinc mine in Europe.
Subsidiary Western Tethyan Resources (75% of Ariana’s ownership) has been granted the licenses. Three more are awaiting approval.
Galileo Resources (AIM: GLR) Exploration Start-up Over Lithium & Gold Projects Update. At the Kamativi Lithium Project, comprising EPO 1782, a reconnaissance mapping/sampling site visit is planned to commence imminently.
Permitting work has been initiated to prepare for more advanced exploration in the coming weeks and months which is aimed at facilitating early drill testing.
Colin Bird Chairman & CEO said: ” We are very pleased to have already commenced work over the lithium and gold projects in Zimbabwe. The Kamativi Lithium Project is adjacent to the Kamativi tin mine which hosts a substantial lithium tailings Resource, mainly in the form of spodumene which is the most sought-after lithium mineral. Primary lithium grades at the Kamativi mine could well be higher than reported in tailings.
Alien Metals Ltd, (AIM: UFO) is on track for a “company defining Year” according to stockbroker WH Ireland. They expect to see the Hancock project in Western Australia de-risked by 2022.
In a note, WH Ireland sets a 2.7p share ‘fair Value’ for the junior mining company. This suggests that there could be a significant upside to the current price, 0.78p.
ECR Minerals plc (AIM: ECR) AGM Statement last Monday the Company provided an update on the delivery of the second drill rig which the Company had confirmed it had purchased in the announcement on the 27th July 2021. The Directors confirmed there were delays in delivery from China due to high shipping costs and availability, but the Directors expect to have it on-site and in use by the end of the summer.
Adam Jones, leading Geologist for ECR’s Victorian projects stated “The use of the second multi-purpose drill rig will be crucial for follow up drilling at projects such as Creswick. We can quickly switch between RC drilling (for bulk samples and grade) and diamond core (for confirmation of structures) as needed.”
@MilaResources Exceptional Assays: Better Than Expected Grades at Kathleen Valley’s Coffey Deposit #MILA 🇦🇺 Assays for the first five of the 11 diamond core holes have been received (Table 1) delivering exceptional resultshttps://t.co/G3cVvJmuxN via @Share_Talk https://t.co/BiSGPC3wiJ pic.twitter.com/D7396x2hnC
— Share_Talk ™ (@Share_Talk) April 25, 2022
Mila Resources Plc (AIM: MILA) Announced Exceptional Assays from Coffey Deposit, Better Than Expected Grades at Kathleen Valley’s Coffey Deposit.
The objective of the drill programme is to build on the existing JORC Inferred Resource and unlock the full potential of the project, which is located in a region which hosts some of the largest gold projects in Australia and which is adjacent to Bellevue Gold’s discoveries.
Neil Hutchison, Chief Geologist of Mila Resources, commented:
“I am lost for words! The assay results from the first five diamond core holes have surpassed my expectations. We knew the core would deliver strong results based on the visual observations of the sulphide mineralisation and the Bellevue-Style veins we had intersected. In addition, we received great results from the RC drilling assays indicating the potential of this mineralised system, but to intersect 6.6m at almost 15 grams gold and 22 grams silver is remarkable. This zone includes 1m at 27.6 grams gold and 47.5 grams silver, which is the highest assay result we have received back from all of the drilling at Coffey to date.
Alien Metals Limited (AIM: UFO) The company report the final assay results from the inaugural drilling programme at the high-grade Elizabeth Hill Silver Project in the Pilbara Region of Western Australia.
The drill programme consisted of diamond and Reverse Circulation (RC) drilling for a total of 1,991m. The Company has received the final results from the 15 RC drill holes completed during the second phase of the inaugural drilling programme which builds on the results of the initial phase.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented :
“The final assay results provide further confirmation of the exceptionally high-grade tenor of the silver mineralisation at Elizabeth Hill, with additional excellent intersections within the historic orebody. The intersection within hole AMEHRC0012, which was drilled on the south of the orebody, is significant as it encountered high-grade mineralisation at a depth where we always thought there might be a possible repetition of the Elizabeth Hill silver orebody.
“It is also encouraging to see the presence of wide intersections of base metals in the eastern mafic units which run parallel to the Elizabeth Hill silver deposit in the final batch of assay results. This may present as significant base metals VMS style target. The Company is currently working with our technical consultants to gain a better understanding of this target ahead of a follow-up exploration programme.”
