Blackstone commences drilling at the Ban Khoa Nickel-Copper-PGE prospect after its in-house geophysics crew generated new targets associated with the highly prospective Ban Khoa ultramafic intrusion;

  • Blackstone commences drilling at the Ban Khoa Nickel-Copper-PGE prospect after its in-house geophysics crew generated new targets associated with the highly prospective Ban Khoa ultramafic intrusion;
  • Ban Khoa is located ~1.5km north of the flagship Ban Phuc deposit (see Figure 1);
  • The Ban Khoa prospect is analogous to the Ban Phuc Disseminated Sulfide (DSS) orebody where the company has delivered the King Cobra discovery and recently announced the maiden Indicated Mineral Resource of 44.3Mt @ 0.52% Ni for 229kt Ni and Inferred Mineral Resource of 14.3Mt @ 0.35% Ni for 50kt Ni (see ASX Announcement 14 October 2020);
  • Drilling at Ban Khoa by previous owners did not target electromagnetic (EM) plates; Blackstone’s geophysics crew will use EM to refine the targets at Ban Khoa for high impact drilling;
  • Historic drill holes from Ban Khoa returned results including (see ASX Announcement 29 May, 2020, see Figures 2 & 3 and Tables 1 & 2):

BK02 incl. 33.2m @ 0.76% Ni from 174.5m
incl. 15.0m @ 1.03% Ni from 174.5m
BK03 58.3m @ 0.52% Ni from 197.6m
incl. 5.6m @ 1.03% Ni from 203.7m
BK06 21.9m @ 0.5% Ni from 60.1m
BK07 63.7m @ 0.4% Ni from 136.8m
BK08 14.7m @ 0.81% Ni from 114.7m
incl. 9.4m @ 1.02% Ni from 120.0m

  • Ban Khoa has a combination of high priority Massive Sulfide Vein (MSV) prospects within a broader DSS target associated with the Ban Khoa ultramafic intrusion;
  • Blackstone continues to target MSV prospects analogous to the previously mined Ban Phuc MSV, where previous owners successfully mined 975kt of high grade ore at average grades of 2.4% Ni & 1.0% Cu from an average vein width of 1.3m for 3.5 years between 2013 and 2016, producing 20.7kt Ni, 10.1kt Cu and 0.67kt Co;
  • A recently purchased seventh drill rig (in addition to two drill contractor rigs) will continue to follow the geophysics crew throughout the Ta Khoa nickel sulfide district, testing high priority EM targets generated from 25 MSV prospects including Ban Chang, Ta Cuong, Ban Khoa and King Snake (see Figure 1);
  • Drilling continues at the King Cobra Discovery zone (KCZ), Ban Chang and Ta Cuong;
  • Blackstone’s recently announced scoping study on the Ban Phuc DSS orebody highlighted an economically robust nickel sulfide project to produce downstream Nickel:Cobalt:Manganese (NCM) Precursor products for the Lithium-ion battery industry (see ASX Announcement 14 October 2020);
  • Scoping study estimated annual production of ~12.7ktpa Ni over 8.5 years project life generating a Pre‐tax NPV8% of ~US$665m and ~45% IRR with a capital payback period of 2.5 years at US$8/lb Ni (see ASX announcement 14 October 2020).

Blackstone Minerals’ Managing Director Scott Williamson commented:

“We are very excited to commence exploration at Ban Khoa. Based on geological similarities and historical results, we believe it has the potential to deliver similar results to Ban Phuc. The geology at Ban Khoa is relatively well-understood given the historic drillings and we have refined our targets using modern geophysics. Exploration success here could add meaningful inventory, extend mine life and improve the economics demonstrated in our recently completed scoping study.”

“We continue to systematically test our 25 MSV prospects and with our in-house geophysics crew and Blackstone-owned drill rigs, we can cost effectively explore this globally significant nickel sulfide district using modern geophysical techniques. We see potential to increase annual nickel production from the Ta Khoa Nickel-Cu-PGE project through targeting highgrade MSV to complement the base load nickel sulfide feed from the Ban Phuc DSS and King Cobra discovery zone.”

Click here to view full announcement

australia resource investing asx:bsx

Lodgement of Codrus Minerals Limited IPO Prospectus

Key Highlights:

• Codrus Minerals Limited has lodged its IPO Prospectus with ASIC to raise a minimum of $5,000,000 and a maximum of $8,000,000.
• PAC Partners Securities Ltd and Westar Capital Limited appointed as Joint Lead Managers.
• Priority offer to eligible Blackstone shareholders up to 10,000,000 shares.
• Shannan Bamforth, experienced Exploration Geologist appointed as Managing Director.
• Highly prospective Gold IPO with the spin-out of the Western Australian gold assets, including the Silver Swan South Project, Red Gate Project and the Middle Creek Project
• The Bull Run project in Oregon USA, consisting of 90 claims in Baker County in Eastern Oregon, prospective for gold and has been mined since 1929.
• Blackstone to be a substantial shareholder of Codrus.

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Lodgement of Codrus Minerals Limited IPO Prospectus

Key Highlights:

• Codrus Minerals Limited has lodged its IPO Prospectus with ASIC to raise a minimum of $5,000,000 and a maximum of $8,000,000.
• PAC Partners Securities Ltd and Westar Capital Limited appointed as Joint Lead Managers.
• Priority offer to eligible Blackstone shareholders up to 10,000,000 shares.
• Shannan Bamforth, experienced Exploration Geologist appointed as Managing Director.
• Highly prospective Gold IPO with the spin-out of the Western Australian gold assets, including the Silver Swan South Project, Red Gate Project and the Middle Creek Project
• The Bull Run project in Oregon USA, consisting of 90 claims in Baker County in Eastern Oregon, prospective for gold and has been mined since 1929.
• Blackstone to be a substantial shareholder of Codrus.

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Blackstone Minerals Quarterly Report for the Period Ending 31 March 2021

Ta Khoa Nickel – Copper – PGE Project

Upstream Business Unit (UBU)

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More Massive Sulfide Nickel at King Snake

Blackstone Minerals Limited (ASX:BSX, OTC:BLSTF) is pleased to report that it continues to intersect Massive Sulfide Vein (MSV) mineralisation at King Snake. MSV has been observed in all drill holes subsequent to the maiden intersections recently announced (refer Tables 2 & 3 in Appendix 1 of this report and ASX announcement 4 February 2021).

The Company is aggressively drilling at King Snake and sees significant potential for it to be incorporated into ongoing mining and processing studies given the exploration success to date.

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In exceptional market conditions, Rio Tinto achieves record financial results and declares total interim dividend of 561 US cents per share, 75% of underlying earnings

Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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Lake Resources NL Bonus Issue to Shareholders

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As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

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Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

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Rio Tinto commits funding for Jadar lithium project

Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.

The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.

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In exceptional market conditions, Rio Tinto achieves record financial results and declares total interim dividend of 561 US cents per share, 75% of underlying earnings

Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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Lake Resources NL Bonus Issue to Shareholders

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, wishes to advise that it intends to undertake a bonus issue of options (Bonus Options) to all shareholders with an address in Australia or New Zealand (Eligible Shareholders) at 5:00 pm (Sydney time) on the Record Date (set out in the indicative timetable set out below*).

As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

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Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

Keep reading... Show less

Rio Tinto commits funding for Jadar lithium project

Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.

The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.

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Lake Resources NL Appoints New CFO

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has appointed Peter Neilsen as Chief Financial Officer (CFO). The Company is ramping up its international project funding and development activities.

A key focus of the new CFO will be to guide a panel of international project financiers to successfully secure funding for Lake’s lithium production.

His other key role will be to develop and assist Lake’s team in Argentina to organise development activities and lithium production. He will also serve as joint Company Secretary.

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