Aeromagnetic Survey to Commence at Barraba Copper Project

Aeromagnetic Survey to Commence at Barraba Copper Project

Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW.

Highlights

  • Mitre Geophysics and AirGeoX have been engaged to conduct a high definition airborne magnetic survey of the Barraba Copper Project using an Unmanned Aerial Vehicle (UAV).
  • Data collected from the UAV survey will be analysed to refine targets for the next stage ground geophysics program and drilling.
  • Work to commence this month with results expected shortly afterwards.

Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW. AirGeoX is an experienced contractor in the provision of geophysical services utilising the latest in UAV drone technology. This technology will enable the cost-effective acquisition of high-definition magnetic data over a large target area. The data acquired will display geological structures that may previously been undetected in the project area. AirGeoX’s mission statement is to significantly increase the rate of discovery for minerals and oil and gas through innovative methods and are currently developing the highest quality UAV drone magnetic acquisition system in the world.

Overseeing the program and providing specialist expertise with respect to the formulation of the program as well as interpretation of the survey results is Mitre Geophysics Pty Ltd (Mitre). Mitre has extensive experience in base metal exploration, which forms the core of their business. They have worked in many of the major cratonic shields worldwide on projects ranging from in-mine ore lens definition to basin-scale airborne EM projects. Mitre’s detailed knowledge of base-metals provides essential technical skills at both the front-end and back-end of an exploration program.

They are in a position to recommend the latest and most effective technique(s), which companies can utilise to acquire and apply quality controls to the data as it is being acquired, then process and interpret it to produce meaningful, integrated reports which Comet can use to plan further exploration including follow on ground based geophysics and drilling. The program will be undertaken over a period of 4-5 days in the following weeks, with results anticipated to be available shortly thereafter.

Matthew O’Kane, Managing Director of Comet Resources, stated “It is pleasing to acquire the specialist skills of AirGeoX and Mitre Geophysics as we pursue the encouraging results received from the recent initial exploration program at the historic Murchison Copper Mine, where high grade copper in rocks and soils were detected. We look forward to sharing the results of the drone survey as soon as they become available.”

Click here for the full ASX announcement.

Click here to connect with Comet Resources Ltd (ASX:CRL) for an Investor Presentation.

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

Keep reading... Show less

AU$4 Billion Galaxy/Orocobre Merger to Create Top 5 Lithium Company

Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.

Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.

Keep reading... Show less

IIROC Trading Halt – TMRR

The following issues have been halted by IIROC:

Company: Tempus Resources Ltd.

Keep reading... Show less

Cleantech Investing in Australia

Climate change is a looming issue for Australians, with 82 percent concerned about bushfires and 81 percent worried that drought or flooding will affect crop production and food supply.

This is where conscious investors look to the cleantech sector, which covers everything from renewable energy to low-emission technologies to water technology to battery storage and more.

What should investors know about cleantech in Australia before they jump in? Read on for a look at key factors, including market size, the industries encompassed by cleantech and big players to watch.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Becoming a substantial holder

The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

Keep reading... Show less

Top News

Related News