Weekly Mining Highlights, 16th June 2019

A look back at the top news from London-listed junior miners this week.

Asiamet Resources Ltd (LON:ARS) has brought the market a trio of updates, all from the Beruang Kanan Main (BKM) project.

The company revealed that a ‘detailed and comprehensive’ feasibility study has confirmed a robust project based on open pit mining and solvent extraction-electrowinning (SX-EW) copper heap leach processing.

At the same time, the company for the first time defined a metal reserve for the project and provided an updated assessment of resources.

With three meaningful milestones delivered the company is now looking ahead towards development and, ultimately, production.

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has demonstrated the economic potential of its Lake Way Project through a scoping study for the commercial-scale development of its Western Australian sulphate of potash (SOP) project.

The study was based on the mineral resource estimate for Lake Way reported in March, amounting to 8.2 million tonnes of SOP calculated using drainable porosity and 73 million tonnes using total porosity.

Results of the study indicate Lake Way would generate strong economic returns due to its low capital intensity bottom quartile operating costs and sustainable mining life.

Pembridge Resources PLC (LON:PERE) has acquired the Minto copper mine in central Yukon from Capstone Mining (TSE:CS) for US$20mln in deferred staged payments.

The deal puts Pembridge firmly in the ranks of London-listed copper producers. The Minto copper mine is a fully permitted copper mine that’s been in production since 2007, but which is currently on care and maintenance. This acquisition sets Pembridge on its stated path to becoming a mid-tier copper mining company with a goal to restart production during Q4 of 2019.

Thor Mining PLC (LON:THR) has given investors further details from its recent metallurgical testing of samples from the Desert Scheelite deposit at the Pilot Mountain project, in Nevada.

Thor said that assays of both the head sample and the tailings following scheelite recovery showed potentially economic levels of gold.

Arc Minerals Ltd (LON:ARCM) has kicked off its initial 7,500-metre drilling programme Zamsort/Zaco, the company’s copper projects in Zambia.

Two diamond drill rigs will test the large Cheyeza anomaly as well as the Lumbeta and Muswema targets.

IronRidge Resources Ltd (LON:IRR) has confirmed the completion of its acquisition of the Vavoua Projects, giving the company a highly prospective gold exploration portfolio in Cote d’Ivoire.

Rockfire Resources (LON:ROCK) Extensive sulphide zone at Plateau

The acquired assets – 100% of the share capital of Marlin Minerals, Booster Minerals and CAPRI Metals – are located in the vicinity of the Abujar project which hosts 1.73mln ounces.

Greatland Gold PLC (LON:GGP) told investors it has begun preparations for a drill programme at the Firetower gold project in Tasmania.

The company plans to drill 15 holes, for a total of 2,000 metres, to test the centre of the chargeability anomaly at Firetower and additional drilling will test the previously undrilled Firetower East area.

Landore Resources Ltd (LON:LND) has kicked off a drill programme for the BAM gold deposit, at the Junior Lake property in Ontario, Canada.

The company will drill a total of 4,500 metres to infill and extend the deposit’s current 951,000-ounce resource.

Galileo Resources PLC (LON:GLR) said that its 34%-owned Glenover rare earths project was “well placed to benefit” as prices of the minerals are boosted by the standoff between China and the US.

After China, which accounts for more than 70% of global output of rare earth minerals and supplies about 80% of the USA’s rare earths, made thinly veiled threats that it could restrict exports, Galileo chief executive Colin Bird said the geopolitical calm around the supply of rare earths “has now evaporated and the spectre again of a rare earth deficit, particularly, the heavy rare earths, is again emerging”.

ECR Minerals PLC (LON:ECR) has told investors on Tuesday that it has made encouraging progress in its follow-on gold nugget test programme at its Creswick project in Victoria, Australia.

The miner has started metal detector scanning of sample bags containing quartz collected from recent reverse circulation drilling. This will allow the group to assess which bags to send to the lab for full testing.

Bushveld Minerals Limited (LON:BMN) has announced a new innovative vanadium electrolyte rental product which is being launched alongside Avalon Battery Corporation.

The AIM-quoted firm’s 84% owned subsidiary Bushveld Energy has worked with Avalon to structure and design the rental product. It includes a financial model and a set of legal agreements which allow terms acceptable to three different parties – a vanadium producer, a battery company and an electricity customer.

AfriTin Mining Ltd (LON: ATM) has received a second batch of assay results from drilling at its Uis tin mine in Namibia.

Thor Mining PLC (ASX:LON:THR) Notice of AGM 28 November 2019

Among the most significant intercepts from the most recent five holes were 30.32 metres grading 0.20% tin and 91 parts per million (ppm) tantalum, 109.32 metres grading 0.17% tin and 77ppm tantalum, and 53.83 metres grading 0.16% tin and 73ppm tantalum.

The drilling was part of a programme aimed at validating the historic information disclosed by SRK in 1985.

Thor Mining PLC (LON:THR) has revealed what it described as positive metallurgical testwork for the Pilot Mountain project in Nevada.

Samples taken from drilling at Pilot Mountain’s Desert scheelite deposit were analysed.

The company highlighted that in testing a scheelite concentrate was produced, assaying more than 68% tungsten trioxide (WO₃). The tests showed a metallurgical recovery rate of 73.6%.

Russian regulatory authorities have approved Eurasia Mining plc (LON:EUA) feasibility study of permanent conditions for the Kluchiki Area of the West Kytlim project, where mining is currently ongoing.

The feasibility of permanent conditions is equivalent to a definitive feasibility study (DFS) in Western mining reporting terms.

Rockfire Resources PLC (LON:ROCK) has raised its grade estimate for the Copperhead project in Queensland, Australia.

During the planning of geophysical surveys, Rockfire found that original and follow-up copper sampling encountered high values of molybdenum that were not included in previous estimates.

The inclusion of molybdenum has increased the average copper equivalent grade to 0.35%, up from the 0.25% recorded after a second round of core sampling in 1988.



Author Renae Dyer

Source Link www.proactiveinvestors.co.uk


Article originally published by proactive investors. Share Talk is not responsible for its content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.



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