Block Energy (BLOE), the development and production company focused on Georgia, said that the CEO Paul Haywood has received a letter of support from the State Agency of Oil & Gas, which is part of the Ministry of Economy and Sustainable Development of Georgia. Recent board changes and a request to requisition a General Meeting have put Block Energy in the limelight as far as the small-cap space.
By Zak Mir
Minerals exploration and development company Alien Metals (UFO) said that its inaugural drilling programme is due to commence in the coming days on the Elizabeth Hill Silver Project. Alien has mobilised a diamond drill rig to commence its inaugural drilling programme at the Elizabeth Hill Silver Project . 7 diamond core holes for a planned total of 650m designed to test for extensions to the known mineralisation both along strike and at depth and to complete initial verification work on historical drilling. The programme also aims to test for a much larger mineralised system the company believes is present.
Conduity (CCAP) and Smarttech247 said they have entered into a non-binding heads of agreement to work towards the possible acquisition of Smarttech247 for a total consideration of £33.5 million. Smarttech247 is artificial intelligence based cybersecurity business. At the end of June both Riverfort (RGO) and Pires (PIRI) invested in Smarttech247. Conduity said that should the deal occur, it would be classified as a reverse takeover in accordance with the AIM Rules for Companies.
Market newbie Bradda Head (BHL), a North America-focused lithium development group, said it has received permission to drill on part of its Wikieup Project in Arizona, USA. Drilling is expected to start in early Q4 2021. Bradda Head has already commenced drilling at its Burro Creek East asset, and this programme at Wikieup plans to add further resources to the company’s existing JORC-compliant Inferred Mineral Resource at Burro Creek East. Bradda Head has received permission to drill 10 holes on a portion of the Wikieup Project in Western Arizona, and expects a further permission of 20 holes to be approved shortly in the 7km2 package.
Metal discoveries group Power Metal Resources (POW) has completed the Phase I work programme on its two gold-nickel licences in the Tati Greenstone Belt located near Francistown, Botswana. Power Metal exercised an option to acquire a 100% interest in the Project on 28 July 2021, through its local wholly-owned operating subsidiary Power Metal Resources Botswana (Pty).
Mining exploration group Kodal Minerals (KOD) updated the market on the progress of its mining licence application for Bougouni together with the results of the recently completed aircore drilling at the Nielle gold concession located in northern Côte d’Ivoire. At the Bougouni Mining Licence an application has now been forwarded from the Ministry of Mines, Energy and Water to the Secretary General’s office for final review. Kodal said this is the final stage prior to the signing of the Mining Licence and has been informed that all is progressing as expected. At the Nielle Gold Project aircore drill results have been returned with wide-spaced drill traverses confirming a 4.5km gold mineralised trend with extensions of up to 1.5km south and over 1km north.
Orcadian Energy (ORCA), the North Sea focused, oil and gas development company, said it has licensed a 3D seismic dataset, covering the company’s Pilot and Blakeney discoveries and the Bowhead prospect within block 21/27, from TGS. The dataset received was shot during 2011 and 2012 and was reprocessed to focus on the Tay discoveries and prospects during 2018 and 2019. Orcadian believe that this newly reprocessed survey has the potential to provide improved imaging of the Tay sands and that the seismic attributes may provide valuable indications about potential fluid fill of those sands.
South American focused President Energy (PPC), provided a well mapped out operational update in relation to its oil and gas activities in Argentina and Paraguay as well as the contemplated listing of Atome on the London Stock Exchange. President said the new oil treatment plant at the Puesto Flores field, Rio Negro, Argentina is fully operational with savings in line with expectations at approximately $4 per barrel. At Puesto Guardian, Salta Province, Argentina drilling programme to start October. Reprocessing of 202 km2 3D seismic at the Pozo Escondido field, Puesto Guardian Concession, Salta now in progress with results expected in November in time for any follow on drilling that may be identified. The Paraguay farm-out is on track to receive regulatory approvals by end of the current quarter.
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