Weekly Mining Highlights, 7th July 2019

A look back at some of the top news from London-listed junior miners

Author Oliver Haill

Rockfire Resources PLC (LON:ROCK) shares surged on Thursday after the explorer announced a maiden gold resource of 51,000 ounces at its Lighthouse licence in Queensland, Australia.

Drilling at two prospects at Lighthouse has indicated an inferred resource of 1.35mln tonnes at 1.18g per tonne of gold.

Arc Minerals Limited (LON:ARCM) said the team that discovered one of the largest high-grade copper deposits of recent times has identified a new target on the AIM-list mine developer’s Zambia licence areas.

African Mining Consultants and Douglas Haynes Discovery have picked over the extensive early exploration work carried out by Arc and mapped out a six-kilometre “strike” called West Lunga grading up to 463 parts per million copper.

Kazera Global PLC (LON:KZG) hailed the potential of the Homestead and Purple Haze tantalum deposits in Namibia following the completion of a maiden JORC resource for the pair.

Recent drilling undertaken by Arc Minerals Ltd (LON:ARCM) at the Cheyeza East prospect has intersected 25 metres grading 1.05% copper, including 1.7% copper over 9.3 metres.

An additional hole drilled 200 metres to the south also shows significant mineralisation.

Bacanora Lithium PLC (LON:BCN) shares rose on Monday following news late on Friday afternoon that it has signed the investment and offtake agreement with Gangfeng Lithium that was first announced in May.

Thor Mining PLC (ASX:LON:THR) has outlined the next steps for the development of the Jervois Vanadium Project in Australia’s Northern Territory.

These include resource drilling at the Casper, RD, and Coco deposits; the drill testing of new targets; and the assessment of the gold, and platinum group element (PGE) potential of property.

The financing and construction of Sirius Minerals PLC (LON:SXX) huge Woodsmith fertiliser mine in North Yorkshire is progressing to plan.

After raising US$825mln from investors in May, the FTSE 250 company said it was on track to complete a US$500mln bond, which in turn would unlock a US$2.5bn revolving credit facility from JP Morgan before the end of September.

IronRidge Resources Ltd (LON:IRR) has completed detailed face mapping and sampling within 145 primary hard-rock artisanal mining pits at the Zaranou gold license in Côte d’Ivoire.

Bluejay Mining PLC (LON:JAY) has identified 20 large scale drill-ready targets on its 2,776 square kilometre Disko-Nuussuaq nickel-copper-platinum project in West Greenland.

A new work programme has been designed to refine both new and previously defined drill targets by reprocessing and validating historical data and acquiring new geophysical and geochemical data.

Rainbow Rare Earths Ltd (LON:RBW) has secured £4.3mln of new cash to invest in increasing production growth at its Gakara rare earth project in Burundi.

Arc Minerals Limited (LON:ARCM) has acquired a further 5% stake in Zambian copper exploration company Zaco Limited.

Mkango Resources Ltd (LON:MKA, CVE:MKA) has been granted a new exclusive prospecting licence covering an area in the Mchinji district, central Malawi.

The licence, covering an area of 868.69 square kilometres, is adjacent to licences with known mineral potential including Mkango’s own Chimimbe Hill nickel-cobalt licence to the south.

 

 

Author Oliver Haill

Source 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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