Agreement to Acquire Highly Prospective Extension toSanta Teresa Gold Project

Agreement to Acquire Highly Prospective Extension toSanta Teresa Gold Project

Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has executed a binding heads of agreement (HOA) with American International Ventures Inc (AIVN) for the proposed 100% acquisition (Acquisition) of the La Sorpressa III tenement (Tenement). The Tenement lies to the northwest of Comet's Santa Teresa Gold Project tenement 223182 – "Santa Teresa", sharing a tenement boundary proximate to the area of historical drilling at the Santa Teresa Gold Project (Project).



Highlights

  • Binding HOA to acquire the La Sorpresa III tenement to extend the Santa Teresa Gold Project in Baja California, Mexico
  • La Sorpresa III was historically mined at recovered grades of up to 280g/t gold and produced between 100,000 and 200,000 ounces
  • The La Sorpresa III tenement is contiguous to the northwest license boundary of Comet's main Santa Teresa Gold Project tenement
  • Mineralisation within the La Sorpresa III tenement is interpreted to be an extension of the system that hosts the Company's existing JORC Resource at Santa Teresa providing scope for a potential resource upgrade


Comet Resources MD, Matthew O'Kane, commented:

"The addition of La Sorpresa III to the Santa Teresa Project is potentially transformational. Our existing JORC Resource is in the northwestern corner of our existing tenement package and its open at the boundary with La Sorpresa III. With La Sopresa III we will have the opportunity to test the interpreted northwestern extension of mineralisation for inclusion into future resource updates."


Click here for the full press release.

Australia's Cannabis Export Market: Facts to Know

The legalisation of medicinal cannabis in Australia, along with the decriminalisation of cannabis in the Australian Capital Territory, is creating opportunities for the export market.

But what types of cannabis products are being exported from Australia and where are they going?

Read on for a look at Australia's cannabis export market, including how it started up, where the country sends its cannabis products and what could be next as the nation's marijuana space develops.

Keep reading... Show less

Elizabeth Gold Project Drilling Update

Tempus Resources Ltd (“Tempus” or ” the Company” ) (ASX:TMR)(TSX.V:TMRR)(OTCQB:TMRFF) is pleased to provide an update of the drilling program at the Elizabeth Gold Project in Southern BC, Canada

The 2021 drilling campaign began on June 5 th . Five diamond drill holes have been completed to date for a total of 774 metres. Drill hole EZ-21-04, drilled on the Northern extension zone of the South West vein, has intersected a wide zone of quartz veining (approximately 4.2-metres), from 121.8-126.0 m, with visible gold evident over approximately one metre (see Figure 1). Additional quartz veining with visible gold has been identified in diamond drill hole EZ-21-02.

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):

  • Change of Director’s interest Notice – MR

The announcement can be viewed at:

Keep reading... Show less

Lake Resources Managing Director: Definitive Feasibility Study for Kachi Lithium Project is Underway

Following an increased focus by electric vehicle makers on supply chain sustainability, Lake Resources NL (ASX:LKE,FWB:LK1,OTCQB:LLKKF) is advancing debt funding options for its flagship Kachi lithium project, and Managing Director Stephen Promnitz says the company is charging ahead to address the surge in battery market demand.

Lake Resources Managing Director: Definitive Feasibility Study for Kachi Lithium Project is Underway youtu.be

Keep reading... Show less

Rio Tinto opens new scandium plant in Canada

Rio Tinto has started operations at a new commercial scale demonstration plant to produce high-quality scandium oxide at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.

The $6 million project, in which the Government of Quebec contributed approximately $650,000 through the Quebec Plan for the Development of Critical and Strategic Minerals, was completed on time and on budget, less than six months after the start of construction.

Keep reading... Show less

Rio Tinto confirms Peter Cunningham as Chief Financial Officer

Rio Tinto has appointed Peter Cunningham as Chief Financial Officer with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Keep reading... Show less

Top News

Related News