Oracle Power (ORCP), the AIM quoted natural resources and power project developer, unveiled an updated presentation on its Western Australian gold assets.
By Zak Mir
This was focused on the recent exploration developments and the company’s strategy at Oracle’s highly prospective gold interests located in the world class gold mining district of Western Australia: the Northern Zone Gold Project – located 25km east of the major gold mining centre of Kalgoorlie, the home of the ‘Super Pit’ mine, the second largest gold mine in Australia; and the Jundee East Gold Project – located ~9km east of Northern Star’s Jundee Gold Mine, one of Australia’s largest gold mines.
Yesterday, San Leon Energy (SLE), the oil & gas exploration company, noted the announcement that Decklar Resources Inc has concluded completion operations at the Oza-1 well. Final completion has been installed, which has a single 2 7/8 inch tubing string and has a design that can be configured to allow for production from the L2.6 sand, which was tested at a stabilised flow rate of 2,463 barrels of oil per day. Logistics and export activities for the well are being finalised, after which the well will start commercial production.
Also on Tuesday, Xtract Resources (XTR) said progress has been made on ongoing racecourse prospect phase 2 drilling programme at Bushranger project, Australia. This involved the completion of drill holes BRDD-21-022 and BRDD-21-023. Based on preliminary logging, BRDD-21-022 was mineralised throughout a lengthy interval of 731 metres, including three zones of more intense mineralisation. Drillhole BRDD-21-023 tested the along-strike continuation of mineralisation intersected in drillholes BRDD-21-018 and BRDD-21-020. The company said that along with the other holes from the phase 2 programme to date, these new holes further extend the dimensions of the deposit and the conceptual open pit.
DeepVerge (DVRG), the life sciences group, said that further to the completion of its recommended share offer to acquire the entire issued and to be issued ordinary share capital of Modern Water Plc, which was declared unconditional as to acceptances on 3 November 2020, the company has confirmed this in writing to The Panel on Takeovers and Mergers.
Cornish Metals (CUSN), said it continues to intersect high grade Tin, Copper, Silver and Zinc at United Downs, this included 1.62m at 9.75% Tin, and 6.72m at 3.67% Copper and 202g/t Silver. The assay results from two diamond drill holes, UD21-006 and UD21-008, are part of the ongoing drill programme at the project in Cornwall UK.
Asiamet Resources (ARS) said it has entered into a Heads of Agreement with PT Delta Dunia Makmur Tbk., one of the largest mining services companies in Indonesia. Subject to completing the key conditions precedent DOID will earn a 51% interest Asiamet’s wholly-owned subsidiary, Indokal Limited by contributing $50 million towards the BKM mine development via a series of cash payments and in kind expenditure.
Altus Strategies (ALS) revealed the intersection of high grades from Diamond Drilling at the company’s 100% owned Diba gold project in western Mali. Diba hosts a shallow-dipping, near-surface gold deposit, and a number of other prospective targets.
KEFI (KEFI) reported the receipt on 2 November 2021 from the Ethiopian Ministry of Mines of formal confirmation that the mining licence for the Tulu Kapi Gold project, held by Project company Tulu Kapi Gold Mines Share Company, remains in good standing subject to TKGM’s on-going compliance with the regulations and the MoM’s requirement for TKGM to re-confirm by 31 January 2022 that it has procured the necessary Project finance.
Somewhat under the cosh Chill Brands Group (CHLL), the international CBD group , is pleased to provide an update on its operations. Sales to Group’s US distributor for ‘Chill’ branded products totaling over $0.5 million recorded during period between 1 July 2021 and 30 September 2021. All previously announced targets and distribution agreements remain in place despite international logistics issues influencing speed of rollout. Perhaps not a moment too soon, the company said its board is closely engaged with Strategic Advisors to devise and implement new investor relations and public relations protocols.
Greatland Gold (GGP), the mining development and exploration company, said it has identified two priority targets that are analogous to the magnetic and gravity anomaly associated with the Havieron gold-copper deposit. These targets are situated within 100% owned areas being the Canning application and the adjacent recently acquired Paterson South tenement as announced to the market on 16 September 2021.
Omega (ODX), the specialist medical diagnostics company, said it notes the UK Health Security Agency’s Medical Devices (Coronavirus Test Device Approvals) (Amendment) Regulations 2021 which were implemented on 1 November 2021. This new legislation is not expected to cause a delay in the supply of Omega’s VISITECT® professional-use COVID-19 Antigen test to DAM Health clinics in the UK. Omega currently remains free to supply LFTs to DAM Health’s clinics throughout Europe and DAM Health are able to distribute Omega’s LFT throughout Europe.
Empyrean Energy (EME), the oil and gas development company, said that it has made significant operational progress towards spudding the LH 17-2-1 exploration well at the Jade prospect on Block 29/11, offshore China, in December 2021. CNOOC EnerTech-Drilling & Production Co have been engaged to manage a number of critical pre drilling permitting and logistical requirements as well as performing a major managerial role over all aspects of the drilling operations
Kodal Minerals (KOD), the mineral exploration and development company focused on the Bougouni Lithium Project in Southern Mali, announced that it has acquired the minority shareholdings of the original vendor parties of the Project. These acquisitions result in Kodal having 100% interest in all concessions of the Bougouni Lithium Project with the concessions all held in the name of Kodal’s Malian subsidiary companies.
Mkango (MKA) has increased its interest in HyProMag from 25.0% to 41.6% following the exercise by HyProMag of its right to convert into shares of HyProMag the £200,000 convertible loan which formed part of the £500,000 financing package completed in January 2020. Cash retained by HyProMag will be used to support the scale up of the patented Hydrogen Processing of Magnet Scrap technology at University of Birmingham and Tyseley Energy Park.
Light Science Technologies (LST) the controlled environment agriculture technology and contract electronics manufacturing group, whose shares have got off to a flying start on the market, said that further to the recent share price rise, Turner Pope, the company’s broker, has today placed 8,500,000 Ordinary Shares, held by Gordon Hall, with clients of Turner Pope. Following the sale of the stock by Hall, he no longer has an interest in the share capital of LSTH.
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