Blackstone Attracts $6.8 million Investment at a Substantial Premium from EcoPro

Blackstone Attracts $6.8 million Investment at a Substantial Premium from EcoPro

Blackstone Minerals Limited (ASX:BSX) is pleased to announce it has signed a binding share purchase agreement with EcoPro Co. Limited (EcoPro).

Highlights

  • Blackstone Minerals signs binding share purchase agreement with EcoPro;
  • EcoPro’s subsidiary, EcoPro BM, is the world’s second largest nickel-rich cathode materials manufacturer;
  • Placement of 40 million shares at $0.17 per share, representing a 62% premium to Blackstone Minerals’ last traded price;
  • EcoPro and Blackstone partnership to develop a downstream nickel processing facility in northern Vietnam.

Blackstone Minerals Limited (ASX:BSX) is pleased to announce it has signed a binding share purchase agreement with EcoPro Co. Limited (EcoPro). EcoPro’s subsidiary, EcoPro BM, is the world’s second largest and Korea’s largest nickel-rich cathode materials manufacturer. The binding share purchase agreement outlines a firm commitment to raise $6.8 million (before costs) through a placement of 40 million fully paid ordinary shares at an issue price of $0.17 per share, which represents a 62% premium to Blackstone Minerals’ last traded price. The binding agreement outlines an alliance structure whereby EcoPro and Blackstone Minerals will work in partnership (through an additional investment via a Joint Venture Agreement) to develop a downstream processing facility in association with Blackstone Minerals’ Ta Khoa Nickel-PGE Project in northern Vietnam.

Terms of the Agreement include:

  • Placement of 40 million shares at $0.17 per share, to be issued under the company’s existing placement capacity with shares to be issued and allotted by 16th April 2020.
  • EcoPro to appoint a director to the board of Blackstone Minerals;
  • Blackstone Minerals to exercise the binding option agreement to purchase AMR Nickel Limited’s 90% interest in the Ta Khoa Nickel-PGE Project (see ASX announcement dated 8th May 2019 for full details);
  • EcoPro and Blackstone Minerals to form an alliance whereby the next stage of the partnership will be an additional investment via a Joint Venture Agreement to develop the downstream processing infrastructure project in association with Blackstone Minerals’ Ta Khoa Nickel-PGE Project, Vietnam.

Harp Capital of Toronto acted as advisor to Blackstone Minerals.

Blackstone Minerals’ Managing Director Scott Williamson commented:

“We are pleased to announce this investment of $6.8m at a premium which strengthens our alliance with EcoPro. Our Ta Khoa Nickel-PGE Project has the potential to deliver the critical raw materials required for EcoPro’s cathode manufacturing to meet the demand from the imminent electric vehicle (EV) revolution. We look forward to working towards the next stage of our partnership to develop the downstream processing facility in northern Vietnam”.

EcoPro’s Vice President of Strategic Planning Division, Sangwook Park:

“It is very important to secure stable and competitive metal materials in the fast-growing secondary battery and cathode active material business. EcoPro has therefore decided that it is a good time to invest in Blackstone. Based on that, we are looking forward to continuing with our partnership so that we can succeed in a downstream JV in the near future.”

Ta Khoa Nickel-PGE Project – Next Steps

Blackstone Minerals aims to deliver a maiden resource in Q3, focused initially on the disseminated sulfide (DSS) at Ban Phuc and continues to investigate the potential to restart the existing Ban Phuc concentrator through focused exploration on both massive sulfide veins (MSV) and DSS deposits. Blackstone Minerals has commenced a scoping study on the downstream processing facility at Ta Khoa. The scoping study, also to be announced in Q3, will provide details for joint venture partners to formalise the next stage of investment. Blackstone Minerals has commenced metallurgical testing on the Ban Phuc DSS deposit with an aim to develop a flow sheet for a product suitable for the lithium-ion battery industry. In addition, Blackstone Minerals will investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium-ion battery industry.

The Ta Khoa Nickel-PGE Project in Vietnam includes an existing modern nickel mine which has been under care and maintenance since 2016 due to falling nickel prices. Existing infrastructure includes an internationally designed 450ktpa processing plant. Previous project owners focused mining and exploration efforts primarily on the MSV at Ban Phuc. Blackstone Minerals plans to explore both MSV and DSS targets throughout the project, initially within a 5km radius of the existing processing facility. Blackstone Minerals will conduct further geophysics on the MSV and DSS targets and continue its maiden drilling campaign. Online readers can click here for footage taken at our Ta Khoa Nickel-PGE Project in January 2020.

About EcoPro

EcoPro is a South Korea-based company engaged in the battery and environment material businesses principally engaged in the manufacture and sale of secondary battery materials. The Company manufactures cathode active materials and precursors used for secondary batteries. The Company also provides environmental materials including sorbents and catalysts, chemical air filters, and greenhouse gas reduction devices, among others. In addition, the Company is engaged in the lithium crushing and processing.

EcoPro BM is a subsidiary of EcoPro, spun off in May 2016. EcoPro BM produces and sells highnickel cathode materials and other products. EcoPro BM is a world-leader in the high-volume cathode material market and currently the world’s second largest and Korea’s largest nickelrich cathode materials manufacturer. EcoPro BM’s major customers include some of the world’s largest battery manufacturers.

For further information please visit the EcoPro website: http://www.ecopro.co.kr/eng

This announcement effectively lifts the trading halt requested on 2 April 2020. The company is not aware of any reason why the ASX would not allow trading to commence immediately. An Appendix 3B for the proposed issue of shares to follow this announcement.

Authorised and approved by the Board of Blackstone Minerals Limited.

For more information, please contact:

Scott Williamson

Managing Director

+61 8 9425 5217

admin@blackstoneminerals.com.au

Nathan Ryan

Investor and Media Enquiries

+61 420 582 887

nathan.ryan@nwrcommunications.com.au

About Blackstone

Blackstone Minerals Limited (ASX code: BSX) is developing the district scale Ta Khoa Project in Northern Vietnam where the company is drilling out the large-scale Ban Phuc Nickel-PGE deposit. The Ta Khoa Nickel-PGE Project has existing modern mine infrastructure built to International Standards including a 450ktpa processing plant and permitted mine facilities. Blackstone also owns a large land holding at the Gold Bridge project within the BC porphyry belt in British Columbia, Canada with large scale drill targets prospective for high grade gold– cobalt-copper mineralisation. In Australia, Blackstone is exploring for nickel and gold in the Eastern Goldfields and gold in the Pilbara region of Western Australia. Blackstone has a board and management team with a proven track record of mineral discovery and corporate success.

Click here to connect with Blackstone Minerals Limited (ASX:BSX) for an Investor Presentation

Source

Appointment of Codrus Managing Director

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce the appointment of Shannan Bamforth as Managing Director of Codrus Minerals Limited (“Codrus”), the spin out of its non-core gold assets announced earlier this year (Refer to ASX announcement from 15 January 2021)

Mr Bamforth is a geologist with over 20 years’ experience in the resources industry with a focus on base metals and gold. He has worked in exploration, operations and corporate roles in Australia, Africa, China, and Indonesia. Mr Bamforth comes to Codrus from Sandfire Resources where he has been working in the role of General Manager Geology since 2010. Prior to this role he held various senior positions with a variety of companies including Regent Pacific Group, St Barbara Mines, AngloGold Ashanti, and Acacia Resources. He is a member of The Australian Institute of Mining and Metallurgy.

Keep reading... Show less

Blackstone Minerals

Overview

Footage taken at our Ta Khoa Nickel-PGE Project in Northern Vietnam, January 2020.The Ta Khoa district and Ban Phuc mine represents a rare opportunity to inv...

The Ta Khoa district and Ban Phuc mine represents a rare opportunity to invest in a premier, infrastructure advantaged, district scale, nickel PGE (copper-cobalt) sulfide project, with a downstream nickel sulfate value add opportunity, located in an emerging hub for electric vehicle lithium-ion battery manufacturing.

Additional projects within Blackstone's high-calibre portfolio of nickel sulfide, copper-gold-cobalt and gold projects in North America and Australia are being advanced for drill testing or joint venture, including the BC project (cobalt-gold) in Canada and the Silver Swan South project (gold-nickel) in Western Australia.

Internationally-designed 450 kilo-tonnes per annum (ktpa) processing plant

Company Highlights

  • Ta Khoa has infrastructure advantages via the existing Ban Phuc mine and processing facilities, and access to low-cost, underutilised hydroelectricity and a trained labour force
  • Ban Phuc is one of 25 nickel sulfide prospects in the highly prospective Blackstone-controlled Ta Khoa Nickel PGE (copper-cobalt) district, Son La Province, Vietnam
  • Targeting Q2 2020 for the delivery of the initial Joint-Ore Reserves Committee compliant resource for the Ban Phuc disseminated Nickel PGE (copper-cobalt) deposit
  • Advancing an independent scoping study evaluating development options for the Ban Phuc bulk mineable disseminated deposit and adjacent high-grade Nickel PGE (copper-cobalt) prospects
  • The objective is to produce a high-value nickel sulfate product for the lithium-ion EV battery manufacturing hub being developed in the port city of Hai Phong, where leading manufacturing companies have existing large-scale electronics manufacturing facilities
  • Funding secured to deliver a maiden resource and scoping study for the Ban Phuc disseminated nickel sulfide deposit, with approximately AU$4.95 million in treasury and access to an additional AU$2 million through a Controlled Placement Agreement (CPA) with Acuity Capital

Key Projects

Blackstone's 90 percent-owned Ta Khoa Nickel-PGE project is located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.

Previous project owners invested more than US$136 million in capital and generated US$213 million in revenue during a three-and-a-half-year period of falling nickel prices. The project was placed into care and maintenance in mid-2016 during some of the lowest nickel prices in the past ten years.

Existing infrastructure associated with the project includes an internationally-designed 450ktpa processing plant connected to local hydro grid power with a fully-permitted tailings facility and a modern 250-person camp.

blackstone ta khoa aerial

Since commencing maiden drilling August 2019, Blackstone has made significant progress at Ta Khoa, drilling over 9,000 meters of diamond core in more than 47 holes into the Ban Phuc DSS deposit and the highly prospective King Cobra discovery zone.

An initial scoping study evaluating mining and processing options is well advanced, including potential in-country downstream processing to deliver high value nickel sulfate into Asia's rapidly expanding electric vehicle (EV) industry. The recently announced MOU with Asia's largest and the world's second largest, EV battery cathode manufacturer, Ecopro BM Co Limited represents a significant step toward making this a reality.

Blackstone's drilling of the Ban Phuc DSS to date includes the following significant results:

Drillhole From (m) To (m) Interval (m) Ni (%) Pt+Pd+Au (g/t)
BP19-02 106.6 124.4 17.8 1.00 0.74
incl. 106.6 114 7.4 1.36 1.10
BP19-03 56.5 102 45.5 1.20 0.35
BP19-06 101 128.7 27.7 0.88 0.74
incl. 108.5 122 13.5 1.12 0.91
BP19-08 140.6 170 29.4 1.00 0.60
incl. 140.6 146.9 6.3 1.22 1.03
BP19-09 107 118.95 12.0 1.46 1.09
incl. 108.2 117 8.8 1.70 1.28
BP19-10 136.9 170.2 33.3 0.80 0.37
incl. 137.5 152 14.5 1.31 0.65
BP19-07 310.9 375 64.4 0.52 0.20
incl. 310.9 327 15.6 1.08 0.58
BP19-11 109.4 161 51.5 0.50 0.22
incl. 116 124 8.0 1.09 0.66
BP19-14 215 321 106.0 0.45 0.20
BP19-22 79 108 29.0 0.60 0.39
incl. 81 94.4 13.4 0.82 0.72
BP19-23 173 224 51.0 0.71 0.43
incl. 187 203 15.7 1.48 1.14
BP19-29 32 91.8 59.8 1.29 0.29
incl. 49.1 63 13.9 2.25 0.54

Drilling underway at Ta Khoa, where four rigs are currently operational

King Cobra Discovery

Drilling at Blackstone's King Cobra discovery has delivered significant high-grade intersections, including 60 meters at 1.3 percent Nickel from 32 meters. It includes the first-ever intersection of massive sulfide vein and breccia styles of sulfide mineralisation within the Ban Phuc intrusion and may provide vectors towards the high grade 'feeder zone' mineralisation.

Plan View showing Ban Phuc DSS drill hole collar locations and King Cobra discovery zone

Plan View showing Ban Phuc DSS drill hole collar locations and King Cobra discovery zone (KCZ)Cross Section 49850E showing the King Cobra discovery hole BP19-23 and BP19-34 (See ASX announcement dated 20th January 2020 for full details)

Next Steps

Blackstone aims to deliver a maiden resource on the DSS at Ban Phuc over the coming months and investigate the potential to restart the existing Ban Phuc concentrator through focused exploration on both MSV and DSS deposits. Blackstone has commenced a scoping study on the downstream processing facility at Ta Khoa. The scoping study will provide detail for potential joint venture partners to formalise a binding agreement. Blackstone has commenced metallurgical testing on the Ban Phuc DSS deposit with an aim to develop a flow sheet for a product suitable for the lithium ion battery industry. In addition, Blackstone will investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia's growing lithium ion battery industry.

Core sample from Ta Khoa

Core sample from Ta Khoa

BC Copper-Gold-Cobalt Project

The BC Copper-Gold-Cobalt Project, formerly the Little Gem Project, is located 180 kilometers north of Vancouver, British Columbia, Canada. The Project was discovered in the 1930s by prospectors identifying a pink cobalt-bloom on weathered mineralisation that led to three adits being developed. A total of 1,268 m of drilling was completed from underground and detailed channel sampling was taken from the adits. Blackstone acquired the BC Project in October 2017 and has since completed an extensive maiden exploration program including drilling, geochemical and geophysical surveys, with the initial results indicating potential for the project to host a world class Cobalt Belt in British Columbia.

blackstone project map showing minerals

blackstone jewel project survey

With the discovery of copper-gold-cobalt mineralisation at Erebor during the 2018 field season returning grades up to 2.3 percent cobalt, 32 g/t gold, 1.6 percent copper and 1.1 percent nickel combined with the multiple large-scale IP anomalies indicating the potential source of the high grade mineralisation at Little Gem, Erebor, Jewel and Roxey, the Company continues to unlock the potential for multiple deposits in a region with geology analogous to the Bou-Azzer primary Cobalt district in Morocco (more than 50 deposits and over 75 years of Cobalt production). Regional targets continue to be generated from the data collected through prospecting and stream sediment sampling across the entire 48 strike kilometer of untested geology prospective for further primary cobalt and gold mineralisation. Blackstone is actively seeking joint venture partners for the BC Project.

Silver Swan South Gold-Nickel Project

The Silver Swan South Project is along trend of the massive nickel sulfide Silver Swan Deposit (pre-mining ore reserve of 655 kilo-tonnes at 9.5 percent nickel) and associated deposits (pre-mining resource of 10.4 Mt at 1.0 percent nickel), and only 8 kilometers northeast of the major Kanowna Belle Gold Mine (+5 Moz gold endowment).

blackstone silver swan project

Highlights of the Project include:

  • Blackstone's second phase aircore drilling program at Silver Swan South intersected gold mineralisation and extensive basement geochemical anomalism at the Black Eagle prospect with the following result: 10 meters at 3.2 g/t gold from 68 meters within 15 meters at 2.2 g/t gold from 64 meters to EOH
  • The above results have significantly upgraded the Black Eagle prospect and, when combined with previous reconnaissance results of 3 meters at 3.5g/t gold from 60 meters sees Black Eagle elevated to a priority drill target.
  • The Silver Swan South project is located 8 kilometers along strike and encompasses the interpreted extension of the Fitzroy Shear Zone which hosts the Kanowna Belle Gold Mine (+5 Moz gold endowment);
  • Aircore drilling will also target the Black Hawk prospect following up on an initial 3 meters at 2.6 g/t gold from 52 meters intersected in the first phase of drilling at Silver Swan South.

Blackstone's initial drilling at Silver Swan South was targeting both gold, hosted by structural targets along strike from the Kanowna Belle Gold Mine (+5 Moz gold endowment), and nickel sulfide mineralisation associated with ultramafic units along strike from the Silver Swan and Black Swan Nickel Mines (combined endowment 166 kilo tonnes nickel metal). The initial programs were designed to test for basement hosted mineralisation, using air core drilling, to improve definition of gold and base metal anomalism identified by previous reconnaissance style drilling.

Management Team

Scott Williamson, Managing Director

Mining Engineer with a Commerce degree from the West Australian School of Mines and Curtin University, over 10 years of experience in technical and corporate roles in the mining and finance sectors.

Hamish Halliday, Non-Executive Chairman

Geologist with over 20 years of corporate and technical experience, founder of Adamus Resources Limited, an A$3M float which became a multi-million-ounce emerging gold producer.

Andrew Radonjic, Technical Director

Mine Geologist and Mineral Economist with over 25 years of experience with a focus on gold and nickel exploration, instrumental in three significant gold discoveries north of Kalgoorlie, Executive Director of Venture Minerals Limited and co-lead the discovery of the Mount Lindsay Tin-Tungsten-Magnetite deposits.

Steve Parsons, Non-Executive Director

Geologist with corporate and technical experience, a proven track record of mineral discoveries, corporate growth, international investor relations and creating shareholder wealth, founding MD of Gryphon Minerals Ltd which became an ASX 200 company with a multi-million-ounce gold discovery in West Africa.

Michael Naylor, Joint Company Secretary

A chartered accountant with over 20 years of experience in corporate advisory and public company management, previously an Executive Director and/or Company Secretary of two highly successful battery metal resource companies located in Australia and Canada. Executive Director and Company Secretary of Bellevue Gold Ltd (ASX:BGL) currently growing a multi-million-ounce gold discovery in WA.

Jamie Byrde – Joint Company Secretary

Chartered Accountant with over 14 years of experience in accounting, company secretarial and corporate advisory roles specializing in Financial Accounting and Reporting and Corporate Governance, currently the Company Secretary for Venture Minerals Limited and Alicanto Minerals Limited.

Dr. Stuart Owen – Exploration Manager

BSc & PhD in Geology with over 20 years of experience in mineral exploration, Senior Geologist in the team that discovered the Paulsens Mine (+1Moz) and as an Exploration Manager at Adamus discovered the Southern Ashanti Gold deposits (+2Moz) and at Venture discovered the Mt Lindsay TinTungsten-Magnetite deposits.

Andrew Strickland – Head of Project Development

Andrew Strickland will lead development of Ta Khoa. He is an experienced Study and Project Manager, a Fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in Chemical Engineering and Extractive Metallurgy from Curtin and the West Australian School of Mines.

Previously, Andrew Strickland was Senior Study Manager for GR Engineering Services Limited, where he was responsible for delivering a series of Scoping and Feasibility Studies for Australian and international projects.

Andrew Strickland has a history of developing mining & metals projects across different commodities and jurisdictions as well as a broad understanding and experience in minerals processing, project management and corporate strategy.

Richard Kitchener – General Manager – Operations

As General Manager Operations, Richard Kitchener will lead, plan and execute all operational activity to ensure a smooth transition into production. Richard Kitchener was Mining and Geology Manager at Masan Group's Nui Phao Mine in Northern Vietnam for the past 10 years, responsible for the development of systems and procedures and negotiation of all contracts during the development and operation of the Nui Phao Mine.

Other previous roles include the position of General Manager Operations at Swan Gold Mining in Australia and General Manager of Operations at Ban Phuc Nickel Mines, Blackstone's now renamed Ta Khoa Project. Richard Kitchener holds a Bachelor of Engineering from Camborne School of Mines.

Steve Ennor – General Manager – Project Development

Steve Ennor, the General Manager Project Development, will manage the transition of the processing facilities from construction to operational readiness. Steve Ennor is a metallurgist with 30 years of experience in gold and base metals processing, including senior management and operational positions in Australia, Africa and South East Asia.

Steve Ennor commenced as the Ban Phuc Nickel Project Development Manager in 2010 and managed project development, plant design and construction into 2012 before transitioning to Metallurgy Manager.

Steve Ennor holds a Diploma in Metallurgy Engineering and is a member of the Australasian Institute of Mining and Metallurgy.

Vũ Hồng Cấm Vân – General Manager – Commercial

Vũ Hồng Cấm Vân will act as General Manager Commercial and will be responsible for managing all business and financials, external affairs and communications in Vietnam relating to the Ta Khoa Project in conjunction with the General Manager Operations and General Manager Project Development.

Vũ Hồng Cấm Vân joined Ban Phuc Nickel Mines in 2006 and has successfully performed in several roles transitioning from senior environment officer to HSE & CSR manager and government affairs director.

Vũ Hồng Cấm Vân holds a BSc in Environment Management from the Ha Noi National University and MSc in Climate Change from the Ha Noi National University.

OTC Markets Group Welcomes Blackstone Minerals Ltd. to OTCQX

OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Blackstone Minerals Ltd. (ASX: BSX; OTCQX: BLSTF; FRA: B9S), developer of the district scale Ta Khoa Project in Northern Vietnam where the company has a maiden resource and scoping study for the large-scale Ban Phuc Nickel-PGE deposit, has qualified to trade on the OTCQX® Best Market. Blackstone Minerals Ltd. upgraded to OTCQX from the OTCQB® Venture Market.

Blackstone Minerals Ltd. begins trading on OTCQX under the symbol “BLSTF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

Keep reading... Show less

Hastings Technology Metals Ltd Stand-out Simon’s Find Metallurgical Test Results Amended

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) (5AM.F) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon’s Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

The test work carried out at Simon’s Find is a key milestone in the Company’s finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana’s development.

The Simon’s Find deposit is part of the 8km-long Bald Hill – Simon’s Find – Frasers mineralised trend and is strategically located close to the site of Yangibana’s proposed process plant and infrastructure.

Keep reading... Show less

Rio Tinto and ARENA to study using hydrogen to reduce carbon emissions in alumina refining

Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

Keep reading... Show less

Hastings Technology Metals Ltd Stand-Out Simon’s Find Metallurgical Test Results

Perth, Australia (ABN Newswire) – Australia's next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon's Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia's Gascoyne region.

The test work carried out at Simon's Find is a key milestone in the Company's finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana's development.

Keep reading... Show less

Australia’s 5 Most Valuable Mineral Exports

Australia’s economy is largely based on its natural resources, with the minerals sector making the greatest contribution to the nation’s exports.

Four of Australia’s states and territories rank in the top 20 mining jurisdictions in the world, according to the Fraser Institute’s latest annual survey of mining companies: Western Australia (fourth), Southern Australia (seventh), Queensland (16th) and the Northern Territory (19th).

These mining jurisdictions demonstrate a high level of investment attractiveness mainly due to their mineral-rich geology, solid infrastructure, stellar economic environment and government support for the resources industry at both the federal and state level.

Keep reading... Show less

Newcrest Mining Limited – Exploration Update 10 June 2021

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:
    • At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70g/t Au & 0.75% Cu from 776m, incl. 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole RC678 (previously reported).
    • East Ridge is located 300m east of East Zone and outside of Newcrest's Red Chris Mineral Resource Estimate. Drilling to define the extent of the higher grade mineralisation is ongoing.
    • In the Main Zone, drilling has intersected high grade mineralisation with RC683 returning 300m @ 0.41g/t Au & 0.51% Cu from 260m, incl. 114m @ 0.67g/t Au & 0.85% Cu from 390m, incl. 22m @ 1.1g/t Au & 1.4% Cu from 464m. This hole is 100m east of RC679 (previously reported).
    • Main Zone has the potential for further higher grade mineralisation beneath and to the south west of the open pit.
Keep reading... Show less

Hastings Technology Metals Ltd Stand-out Simon’s Find Metallurgical Test Results Amended

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) (5AM.F) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon’s Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

The test work carried out at Simon’s Find is a key milestone in the Company’s finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana’s development.

The Simon’s Find deposit is part of the 8km-long Bald Hill – Simon’s Find – Frasers mineralised trend and is strategically located close to the site of Yangibana’s proposed process plant and infrastructure.

Keep reading... Show less

Rio Tinto and ARENA to study using hydrogen to reduce carbon emissions in alumina refining

Rio Tinto has partnered with the Australian Renewable Energy Agency (ARENA) to study whether hydrogen can replace natural gas in alumina refineries to reduce emissions.

Rio Tinto will conduct a $1.2 million feasibility study, equally funded with ARENA through a $580,000 grant, into using clean hydrogen to replace natural gas in the calcination process of refining at the Yarwun aumina refinery in Gladstone.

Keep reading... Show less

Hastings Technology Metals Ltd Stand-Out Simon’s Find Metallurgical Test Results

Perth, Australia (ABN Newswire) – Australia's next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) is pleased to announce stand-out results from metallurgical test work carried out on drilling samples from Simon's Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia's Gascoyne region.

The test work carried out at Simon's Find is a key milestone in the Company's finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana's development.

Keep reading... Show less

Australia’s 5 Most Valuable Mineral Exports

Australia’s economy is largely based on its natural resources, with the minerals sector making the greatest contribution to the nation’s exports.

Four of Australia’s states and territories rank in the top 20 mining jurisdictions in the world, according to the Fraser Institute’s latest annual survey of mining companies: Western Australia (fourth), Southern Australia (seventh), Queensland (16th) and the Northern Territory (19th).

These mining jurisdictions demonstrate a high level of investment attractiveness mainly due to their mineral-rich geology, solid infrastructure, stellar economic environment and government support for the resources industry at both the federal and state level.

Keep reading... Show less

Newcrest Mining Limited – Exploration Update 10 June 2021

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:
    • At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70g/t Au & 0.75% Cu from 776m, incl. 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole RC678 (previously reported).
    • East Ridge is located 300m east of East Zone and outside of Newcrest's Red Chris Mineral Resource Estimate. Drilling to define the extent of the higher grade mineralisation is ongoing.
    • In the Main Zone, drilling has intersected high grade mineralisation with RC683 returning 300m @ 0.41g/t Au & 0.51% Cu from 260m, incl. 114m @ 0.67g/t Au & 0.85% Cu from 390m, incl. 22m @ 1.1g/t Au & 1.4% Cu from 464m. This hole is 100m east of RC679 (previously reported).
    • Main Zone has the potential for further higher grade mineralisation beneath and to the south west of the open pit.
Keep reading... Show less

Scoping Update Highlights the Exceptional Economics and Industry-Leading Sustainability of Piedmont’s Carolina Lithium Project

Piedmont Lithium Inc., (“Piedmont" or the “Company") (NASDAQ: PLL; ASX: PLL) is pleased to report the results of the updated scoping study (“Scoping Study" or “Study") for its proposed integrated lithium hydroxide business (“Carolina Lithium" or the “Project") in Gaston County, North Carolina. The Study confirms that Carolina Lithium will be one of the world's largest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to incumbent producers, all in an ideal location to supply the rapidly growing electric vehicle supply chain in the United States.

Keep reading... Show less

Top News

Related News