Blackham Sells Lake Way Potash Tenements

The deal will see Blackham receive AU$10 million cash, and it will retain certain gold mining rights for both those tenements and Salt Lake Potash’s neighbouring tenements.

Blackham Resources (ASX: BLK) has announced that it has agreed to sell its Lake Way tenements, cancel its brine royalty and provide certain water rights to Salt Lake Potash (ASX: SO4).

The deal will see Blackham receive AU$10 million cash, and it will retain certain gold mining rights for both those tenements and Salt Lake Potash’s neighbouring tenements.

As quoted from the press release:

The Lake Way transaction is an extension of the previously announced Split Commodity and Access Agreement between Blackham and Salt Lake Potash (ASX announcement dated 8 April 2019, BLK and SO4 Sign Split Commodity Agreement) (Split Commodity Agreement). The Lake Way Transaction is subject to various conditions, as set out below. Salt Lake Potash and Blackham have also identified a mutual opportunity for Salt Lake Potash to utilise part of the pre-strip material from Blackham’s proposed Williamson Pit development for the construction of the Salt Lake Potash’s on-lake evaporation ponds. Salt Lake Potash will contribute up to $10 million to the pre-strip of the Williamson open pit mine, allowing Blackham to expedite the mining of the Williamson open pit and also providing Salt Lake Potash with suitable construction material for its Lake Way Sulphate of Potash (“SOP”) project.

Blackham’s Executive Chairman, Mr Milan Jerkovic, stated “We are excited to have reached agreement with Salt Lake Potash on a mutually beneficial arrangement that enables Blackham to pursue its mining plans for Williamson, whilst also enabling Salt Lake Potash to develop its Lake Way SOP project. The Lake Way Transaction will strengthen Blackham’s balance sheet, lower its mining costs as it progresses its strategy associated with its Sulphide Expansion Project to unlock the large sulphide reserves and resources at Wiluna.”

Click here to read the full announcement

Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

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Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

Keep reading... Show less

Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems on earth. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

Keep reading... Show less

Graphite Metallurgical Test Work Update

Highlights:

  • Bulk sample of Springdale graphite concentrate estimated to be completed in Q2 2021.
  • Concentrate material will then be sent to Germany to test its amenability for the production of battery anode material suitable for use in EVs.
  • Final test results expected in Q3 2021.

Comet Resources Ltd (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work to produce a bulk sample for further testing. Importantly, the graphite concentrates previously produced demonstrated a unique and potentially very valuable characteristic in its small size distribution, with two-thirds of the product passing the 38 µm size fraction screen. Generally, this small size fraction of graphite is a by-product of processing of larger flake fractions, which produces smaller size graphite, but in doing so also damages the smaller flake material in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon and are potentially suitable for supplying the expanding battery anode market, which continues to grow as the sales of electric vehicles (EVs) increase. Graphite suitable for battery anode production also achieves premium pricing in graphite markets, making it a highly sought-after product.

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Medallion Completes Diagnostic Testing with Australian Nuclear Science and Technology Organization

Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) “Medallion” or the “Company”) announces completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract rare earth elements (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with additional prospective suppliers.

Mineral sand monazite is an abundant REE-rich feedstock, that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium, without the need for additional mining. Medallion’s business model is centered on the Medallion Monazite Process , a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery and zero liquid waste.

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