Perth, Australia – Classic Minerals Limited 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. – Advancing engineering, mining and metallurgical studies at Kat Gap, and – IGO have made …

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.

– Advancing engineering, mining and metallurgical studies at Kat Gap, and

– IGO have made further progress at Classic’s Fraser Range Project.

A total of 29 holes for 2,588 metres were drilled during the quarter by the Company.

RC drilling was focused solely on Kat Gap with work concentrating on filling in the gap created artificially between shallow drilling of the oxide profile and deeper drilling for the down dip extensions into fresh rock. If the gap could be filled in by zones of higher-grade gold mineralisation, then the final optimisation work may drive pit designs deeper allowing the Company to access more minable ounces.

IGO have continued working on their recently identified high conductance discrete EM anomaly over the Thylacine and Sabretooth area (now known as the Moa target) within a broader stratigraphic conductor.

The development of the Forrestania Gold Project will continue to advance in Q4 FY2021 concentrating on:

– Targeting the interpreted plunge component of high-grade gold mineralisation with deeper RC drilling;

– Drilling priority targets out in the granite within the large auger soil gold anomaly west of the main granite-greenstone contact at Kat Gap;

– Advancing all aspects of the mining plan at Kat Gap;

– Acquisition of necessary mining equipment for Kat Gap, and

– Continuing to raise capital & pay down debt & liabilities to improve the financial position of the Company.

KAT GAP

During the quarter, Classic completed a program of infill RC drilling which was completed back in April. The drilling program consisted of 28 deep infill holes for 2,548m and a single shallow RC hole for 40m. Results for this program were received in mid-June.

Deep Infill RC drilling

The 28-hole deep infill RC drilling program (FKGRC350-377) covered an area approximately 120m along strike to the north of the Proterozoic dyke (See Figure 3.0*). The infill holes were focused on testing a gap that had been artificially created between previous shallow RC holes testing the oxide profile and much deeper previous RC holes testing the down-dip extent of the main granite-greenstone contact lode. If the gap could be filled in by zones of gold mineralisation then final optimisation work may drive pit designs deeper allowing access to more minable gold bearing ore. The holes were drilled to an average depth of 100m below surface and were drilled on 20m x 10m and 10m x 10m grid spacings.

The drilling intersected significant zones of gold mineralisation in the gap between previous shallow RC holes and deeper RC holes testing the down-dip / down plunge extents (See figures 4, 5, 6 and 7*). Further work will now be urgently undertaken to include these new gold intersections into the current resource model. Once this has been completed further optimisation work will be carried out. This work coupled with the outcomes of the bulk sampling program will aid greatly in final pit design work.

Better results from the deep infill holes include:

– 7m @ 2.67g/t Au from 71m in FKGRC350

– 3m @ 6.74g/t Au from 101m including 1m @ 15.00g/t Au from 102m in FKGRC360.

– 4m @ 18.97g/t Au from 76m including 2m @ 33.75g/t Au from 77m in FKGRC362.

– 2m @ 10.73g/t Au from 74m including 1m @ 19.90g/t Au from 74m in FKGRC367.

– 1m @ 14.20g/t Au from 69m in FKGRC368.

– 4m @ 16.93g/t Au from 101m including 1m @ 58.40g/t from 101m in FKGRC372.

– 6m @ 5.30g/t Au from 84m including 1m @ 17.40g/t Au from 88m in FKGRC373.

– 6m @ 7.72g/t Au from 78m including 1m @ 26.20g/t Au from 83m in FKGRC375.

– 5m @ 7.95g/t Au from 103m including 1m @ 24.90g/t from 107m in FKGRC377.

Shallow RC Drill hole

A single shallow RC hole (FKGRC378) was completed to a depth of 40m. The hole was drilled close to existing high-grade holes FKGRC061 which returned 9m grading 15.21 g/t from 22m and FKGRC018 which returned 10m grading 30.78 g/t from 28m (See figures 4 and 5*). The hole was drilled to provide additional material for advanced metallurgical testwork and aid in further Research and Development studies.

The hole returned the highest-grade intersection ever recorded at Kat Gap, 10m grading 40.54 g/t gold from 26.50m including 0.50m grading 592.00 g/t gold from 28.50m.

FRASER RANGE

The Company refers to the ASX announcements of 17 June 2019 and 05 July 2019 wherein Classic entered into the Earn-in and Joint Venture Agreement with Independence Newsearch Pty Ltd, a 100% owned subsidiary of IGO Limited (ASX:IGO) (“IGO”). More details of the transaction can be found in these two announcements.

The following is an update of progress on exploration carried out during the June 2021 quarter by IGO on the Fraser Range tenements.

In June 2021, IGO notified Classic of its election to acquire a 51% interest in the joint venture tenements after spending $1,500,000 on exploration; and its intention, at its option, to spend a further $1,000,000 exploring the Tenements over the next two years to increase its joint venture interest to 70%. Classic has provided signed transfers of 51% of the tenements to IGO and received $550,000 (including GST) on 8 June 2021.

To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/011YN5KA

About Classic Minerals Limited:

Classic Minerals Limited (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia’s famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).

Source:
Classic Minerals Limited

Contact:
Classic Minerals Ltd
T: +61-8-6305-0221
E: contact@classicminerals.com.au
WWW: www.classicminerals.com.au

News Provided by ABN Newswire via QuoteMedia

Featured
Global News
ladder leading to the sky

An unprecedented increase in nickel prices pushed the London Metal Exchange to halt nickel trading.

Nickel doubled in price to hit a record level of US$100,000 per tonne before the London Metal Exchange (LME) decided to suspend trading on Tuesday (March 8).

The base metal, used mainly in stainless steel, but gathering attention for its use in electric vehicle batteries, was up an unprecedented 250 percent in two days on the back of a short squeeze.

The largest-ever move on the LME kicked off as investors' worries over supply climbed following Russia’s invasion of Ukraine. Russia is a top nickel-producing country.

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wooden blocks showing sustainability-related images

As the world continues its transition towards a sustainable future, Australia has the potential to become a major player in clean energy and climate projects.

Sustainability is changing the course of multiple industries, with significant impacts on the investment sector.

Sustainable investing is the future — a means by which one can diversify their portfolio while also promoting positive societal and environmental impacts. This is arguably most evident in the energy and carbon markets.

"We're really in the middle of a low-carbon transition right now," said Adeline Aw, vice president of environmental sustainability at Singapore's Economic Development Board, according to a recent McKinsey podcast. "What's really important is to help finance and bring to life projects that can help us remove and to avoid carbon emissions."


The global push for sustainability

In 2018, scientists published a study in the peer-reviewed Earth System Dynamics, a scientific journal focused on climate change, geology and atmospheric science. According to that study, the world was fast approaching the point of no return for reversing global warming. Another report was published later that same year by the UN International Panel on Climate Change.

The second report has been the source of much confusion on the sustainability front. Many have grimly noted that it establishes 2030 as the point at which climate change is irreversible. What it actually says is that we need to significantly lower carbon emissions by that point — otherwise, we may be unable to stabilize the planet's warming.

This does not make the need for climate action any less urgent, nor does it undermine the importance of decarbonisation. It simply establishes a critical milestone for climate initiatives. That milestone has served as the bedrock for multiple countries as they lay out their environmental goals in both the short and long term.

Australia occupies a unique niche in that with respect to decarbonizing efforts. Although it was only responsible for roughly 1 percent of global carbon emissions in 2020, Australia is home to over 10 percent of the world's species. It’s also home to Daintree, the world's oldest known rainforest. Protecting the country's unique ecosystem, especially its forests, will be critical in the fight against climate change.

Australia has made great progress in this regard, and the country is currently on track to exceed its initial 2030 target for emissions reduction by up to 9 percent.

A closer look at Australia's climate change strategies

Australia has adopted what it refers to as a technology-led approach to emissions reduction. The country's Technology Investment Roadmap is foundational to this strategy, establishing a clear process for identifying, developing and deploying sustainable technology. Australia's investments are not solely domestic in nature either.

The country has also established low-emissions technology partnerships with several key global players, including South Korea, the UK, Germany, Japan and Singapore.

Australia has also established the Emissions Reduction Fund, the Safeguarding Crediting Mechanism and Climate Active initiative to incentivise decarbonisation and sustainability in both business and industry. Finally, it has defined comprehensive systems for emissions monitoring, reporting and accountability.

As some have noted, Australia could go even further than carbon neutrality with technology that already exists. It could achieve net-negative carbon, removing more carbon from the atmosphere than it creates. To that end, researchers at the Australian National University have created the ANU Below Zero Initiative, which sets the deadline for net-zero carbon emissions in 2025.

A net-negative approach to a sustainable future

Queensland Pacific Metals (ASX:QPM) is one of the companies currently leading Australia's transition towards net-negative emissions.

Its flagship project, the Townsville Energy Chemicals Hub (TECH), will produce nickel through a proprietary process that requires no tailings dams and discharges no liquids. TECH will also leverage waste mine gas from the Bowen Basin in its production process, helping offset a major contributor to Australian emissions. Finally, the company is exploring productive uses for the residue created from nickel production, primarily silica.

Recognized as a prescribed project by the Queensland government, the TECH project is expected to reduce net emissions by 14.9 kilograms of carbon dioxide (CO2) equivalent for every kilogram of nickel produced, a total reduction of 238,000 tonnes annually. The independent sustainability consultant Minviro undertook these CO2 emissions calculations in an ISO-compliant lifecycle assessment.

Australian Mines (ASX:AUZ) is another major player in the pursuit of Australia's net-zero goals.

The Sconi project, situated just 220 kilometres northwest of Townsville, aims to deliver the most sustainable, carbon-neutral-certified nickel and cobalt in the world. Australian Mines has placed its focus on developing an end-to-end production chain, including a 2 million tonne per annum ore processing plant. Expected to begin production in 2024, Sconi has a projected lifespan of over 30 years and will primarily supply materials to LG Energy Solution (KRX:373220).

As with TECH, Sconi has been identified by the Queensland government as a prescribed project.

Australia's second largest independent producer of oil and gas, Santos (ASX:STO) operates a carbon capture and storage (CCS) project known as Moomba, alongside partner Beach Energy (ASX:BPT). Developed to capture carbon produced by the nearby Moomba gas plant, the project will, upon completion, reduce Southern Australia's annual emissions by more than 7 percent. Captured carbon will be injected into depleted gas reservoirs via pipeline and is part of a plan to develop longer-term CCS capabilities in the region.

Finally, Anglo-Swiss mining and commodity company Glencore (LSE:GLEN) is currently developing its carbon transport and storage company project, which will capture emissions from a coal-fired power plant for storage in Queensland's Surat Basin. Speaking to Reuters, a Glencore spokesperson noted that if proven sustainable, the basin could hold "very sizable" volumes of carbon.

Takeaway

There are many carbon-focused projects in Australia across multiple industries and sectors, which together have the potential to greatly reduce the country's carbon emissions, while also providing compelling opportunities for sustainable investment.

This INNSpired article is sponsored by Queensland Pacific Metals (ASX:QPM). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Queensland Pacific Metals in order to help investors learn more about the company. Queensland Pacific Metals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.

This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Queensland Pacific Metals and seek advice from a qualified investment advisor.

QPM:AU

Indonesia, the Philippines and Russia were the top nickel-producing countries in 2021. Interested in nickel investing? Find out which other nations made the list.

As the electric vehicle (EV) industry continues to boom, the future of nickel looks bright in the coming years, and activity in the world’s top nickel-producing countries could increase.

With demand for the commodity continuing to grow, companies and countries alike have been eager to jump on the production bandwagon.

Having said that, it’s worth keeping the top nickel-producing countries in mind. Here the Investing News Network presents the top nickel-producing countries of 2021, based on the latest data from the US Geological Survey.

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Queensland Pacific Metals

Developing a Sustainable and High-Purity Battery Materials Refinery Project



Overview

The rapid growth of the electric vehicle (EV) industry has created a strong demand for battery materials. The expected demand has been intensified by efforts from various governments to support decarbonization goals. A key element of the EV industry is nickel, which is a base metal that is mainly used in stainless steel. The nickel industry’s environmental, social and governance (ESG) credentials have recently received considerable attention as well.

Still, the most pressing issues facing the nickel industry relate to the environment –– specifically carbon emissions and environmental footprint. Even though nickel supports the EV industry and thus the green economy, current production comes largely from Indonesia. The country is the largest producer of nickel and it does not have a net-zero plan by 2050. New High Pressure Acid Leach projects being constructed in Indonesia will also require tailings dams and effluent disposal, which will leave a significant environmental footprint. As a result, companies with prospective nickel and battery material projects with strong sustainability credentials may present an exciting opportunity for investors.

Queensland Pacific Metals (ASX:QPM) is a company focused on developing its sustainable and high-purity battery materials refinery project in Townsville, Northern Queensland. The company’s fully-owned flagship Townsville Energy Chemicals Hub “TECH” project will be a modern and sustainable producer of critical metals for the lithium-ion battery and electric vehicle sector.

Queensland Pacific Metals

“We believe that the TECH Project can be a global leader in sustainable battery metal production, with our net-negative carbon emissions, zero liquids discharge and no requirement for a tailings dam. Methane emissions from coal mining in the Bowen Basin is one of Australia’s biggest contributors to carbon emissions. By working with our partners to capture the waste gas and utilise it at the TECH Project, we simultaneously reduce carbon emissions, whilst producing critical battery metals to enable the electrification of the automobile industry,” said Managing Director Dr Stephen Grocott in an interview with INN.

The company’s TECH project will process high-grade ore imported from New Caledonia to produce nickel sulfate, cobalt sulfate, high purity alumina and other by-products –– maximising the value of the underlying metals in the ore. In November 2021, an ISO-compliant Life Cycle Assessment was completed by Minviro Ltd. The assessment highlights the TECH Project as not only net-zero carbon but significantly net Carbon Negative. The Life Cycle Assessment calculated that in steady state operation, the TECH Project will reduce carbon emissions by 238,000 tonnes per annum, the equivalent of 52,000 typical

Queensland Pacific Metals is committed to environmentally sustainable production. The company has entered into an MOU signed with Transition Energy Corp. to commission the supply of waste gas that will be used to fuel the TECH project. The company has also entered into an MOU with North Queensland Gas Pipelines for the transport of the fuel.

Queensland Nickel Production

In June 2021, Queensland Pacific Metals formed strategic partnerships with LG Energy Solution and POSCO to significantly advance its project. LG is the world’s largest battery manufacturer and this partnership represented their first investment in their nickel supply chain. POSCO is one of Korea’s biggest conglomerates and one of the largest steel producers in the world that is seeking to diversify its assets. POSCO recently purchased 30 percent of a significant nickel project from First Quantum Minerals Ltd. (TSE:FM) called Ravensthorpe. The partnership involved an equity investment of US$15M by LG and POSCO in Queensland Pacific Metals, resulting in the companies becoming shareholders with respective ownership interests of 6.4 percent and 2.8 percent. As part of the partnership, the company also entered into a binding offtake agreement with LG and POSCO for almost two thirds of its nickel and cobalt production.

The company’s 290-hectare TECH project is strategically positioned 40 kilometers south of Townsville in the Lansdown eco-industrial precinct. The precinct is anticipated to become Northern Australia’s first environmentally-sustainable advanced manufacturing, processing and technology hub. Ore will be imported from New Caledonia, unloaded at the Port of Townsville and transported by road to Lansdown. QPM products will then be transported back to the Port for export to global customers.

Queensland Pacific Metals’ TECH project is well supported by all levels of government. At a State level, the TECH Project has been awarded Prescribed Project status by the Queensland Government, making it a project of state significance.

QPM is currently completing a Definitive Feasibility Study for the TECH Project, which is expected to be completed mid 2022. Subject to financing and approvals, construction could start later this year with first production in 2024.

Company Highlights

  • Queensland Pacific Metals (ASX:QPM) is developing its sustainable and high-purity battery materials refinery project in Townsville, Northern Queensland.
  • The company’s fully-owned flagship Townsville Energy Chemicals Hub “TECH” project will produce critical battery metals, including nickel sulfate, cobalt sulfate, high purity alumina and other by-products.
  • Queensland Pacific Metals’ TECH project has a minimal environmental footprint with zero liquids discharge and no requirement for a tailings dam. The project will also be net carbon-negative according to an ISO-compliant life cycle assessment.
  • The company has strategic partnerships in place with LG Energy Solution and POSCO with each party obtaining shareholder status in Queensland Pacific Metals and having signed binding offtake agreements for nickel and cobalt.
  • Queensland Pacific Metal’s TECH project is strategically positioned in the Lansdown eco-industrial precinct that is anticipated to become Northern Australia’s first environmentally-sustainable advanced manufacturing, processing and technology hub.

Key Projects

Townsville Energy Chemicals Hub “TECH” Project

Tech Hub

The Townsville Energy Chemicals Hub “TECH” project is located in the Lansdown eco-industrial precinct in Northern Queensland. The 290-hectare project has access to skilled labor, engineering services and infrastructure including port, rail, water pipeline, gas pipeline, electric transmission, fiber optic communications and solar arrays.

The company’s TECH project will process high-grade ore imported from New Caledonia to produce nickel sulfate, cobalt sulfate, high purity alumina and other by-products –– ultimately resulting in almost zero-waste products for the first time in the world. New Caledonia hosts many ore supply partners with long-established mining operations. The ore would be transported by road or rail and unloaded at the Port of Townsville. The TECH project proposes to use a patented technology called DNi Process™ to process the ore in a processing plant.

Management Team

Dr. Stephen Grocott - Managing Director and CEO

Dr. Stephen Grocott is an accomplished executive in the mining and mineral processing sector with nearly 40 years of international experience. Dr. Grocott was the chief technical development officer at Clean TeQ Holdings Limited in which he was accountable for all technical and process development. He also supported technical marketing, due diligence and project funding for the A$2B Sunrise Ni-Co-Sc Project in NSW. Dr. Grocott’s exposure to EV and battery producers combined with his world-class expertise in process and development for minerals processing and battery chemicals will underpin the progress of the company

Duane Woodbury - Chief Financial Officer

Duane Woodbury has more than 25 years of experience in listed equity markets. His experience includes involvement with many organizations in Australia and overseas. Woodbury has worked with Macquarie Bank. He has also worked with Kingsgate Consolidated Ltd. as CFO. His most recent role was CFO at Metro Mining Ltd. where he successfully procured all funding required to construct the Bauxite Hills mine. At Metro Mining Ltd., he also secured a loan from Northern Australia Infrastructure Facility (NAIF) to fund expansion initiatives. During his career, Woodbury has managed large debt and equity raisings for development and operating companies primarily in the resources sector.

Barry Sanders - Project Director

Mr Sanders has over 30 years’ experience, including 20+ years in leadership and strategy roles involving the delivery of complex industrial, power, mining and oil & gas projects throughout the Asia Pacific region. Barry is highly regarded by industry and peers for exemplary leadership across construction, commissioning and project delivery with roles at GE, John Holland, Thiess, Jacobs and Clough.

Corinne Bufnoir - General Manager New Caledonia

Mrs. Bufnoir is a geologist engineer with 20+ years’ experience in the nickel industry. Corinne has had a public-private career in areas related to strategy and resource management in lateritic nickel mining operations and has strong New Caledonian relationships and ore supply chain operating experience. Corinne's most recent role was mining counsellor to President of the New Caledonia Government. Corinne has worked for a range of New Caledonian and international organisations including country manager for Transamine Trading SA and Queensland Nickel Pty Ltd. Previously, she held senior roles with the New Caledonian Department of Industry, Mines & Energy and Goro Nickel New Caledonia

QPM:AU
Cyprium
Cyprium Metals
Cyprium Metals

Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to announce further assay results from 28 RC holes (for 7,504m) of the Nifty West drilling program. The drilling programme targeted a lightly drilled area, up-plunge of the former underground mine in the keel area of the Nifty Syncline, below the western end of the Nifty open pit (refer to Figure 1).

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CYM:AU
Rafaella Resources Limited

Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to announce that assay results from three exploration diamond drillholes (‘DDH’) drilled, but never assayed, in 2015 by Valoriza Minería S.L.U. (‘Valoriza’) returned high tin grades from cassiterite mineralisation. These results will be included for the ongoing 3D geological model of the vein system and for a maiden JORC compliant Mineral Resource Estimate (MRE) for its 100% owned San Finx tin and tungsten mine1 (“San Finx”).

Investment Highlights


  • Drillhole 15DDPN01 (PN01) was in the NE extreme of the main UG development of Pozo Nuevo zone, and it returned:
    • 2.23% Sn over 1.50m, from 84.25m and
    • 1.12% Sn over 1.10m, from 174.90m.
  • Drillhole 15DDPN02 (PN02) tested depth extensions in the central part of Pozo Nuevo zone and intersected:
    • 2.12% Sn over 1.60m, from 287.50m, undercutting level 8 of the UG development, proving continuity of the vein system and good grades at depth.
  • Drillhole 15DDPN03 (PN03) was in the SW extreme of the main UG development of Pozo Nuevo zone, and it intersected:
    • 0.73% WO3 over 1.00m from 244.90m,
    • 0.55% Sn over 2.00m from 374.80 and
    • 0.61% Sn over 1.00m from 436.40m.
  • Cu assay returned an average grade of 0.30% Cu within the 0.25% Sn and W cut-off intervals, suggesting that the mine could generate copper concentrate by-product credits.
  • San Finx was producing a clean concentrate of both tin and tungsten as recently as 2017.

Managing Director Steven Turner said: “These results confirm the exceptional grades of both tin and tungsten that are characteristic of this mine and underpin the attractiveness of restarting operations as soon as possible. San Finx is a historically producing mine with simple metallurgy and a track record of selling high-grade clean concentrates under contract. Work is continuing with the JORC compliant mineral resource estimate, and these results will be incorporated into that study. The Board looks forward to updating the market with the final report in Q3 2022.”

Assay results from 3 deep DDH, drilled by previous owners

Rafaella Resources has received assay data from the three DDH re-coded as 15DDPN01 (PN01), 15DDPN02 (PN02) and 15DDPN03 (PN03) which were drilled by Valoriza with the objective of expanding resources at depth for the underground operation. Figure 1 shows the location of the drillholes and of the underground development projections.

Figure 1. San Finx Sn-W deposit showing the mineralized zones at surface and the projection of the underground development for the zones of Buenaventura and Pozo Nuevo. Collar and projection of DDH PN01, PN02 and PN03.

Table 1 is showing drillhole coordinates, depth and downhole survey.

A total of 71 samples from the 3 DDH, including QA/QC (blanks, standards and duplicates from both, pulps, and coarse rejects) were submitted to ALS preparation laboratory in Seville.

All intercepts above 0.25% cut-off (combined Sn + WO3) have been calculated, as shown in table 2. True thickness factor has been applied according to the angles measured directly from core.

Cu assay returned an average grade of 0.30% Cu within the 0.25% Sn+WO3 cut-off intervals, suggesting that the mine could generate credits from a by-product sulphide concentrate.

The mineralised veins intersected generally correspond with the NE system, showing high core angles, Corrections ranging between 0.50 and 0.95 have been applied for the true thickness factor. Note that for the shallower mineralised veins intersected by DDH 15DDPN01, drilled in the NE extreme of the Pozo Nuevo Zone and that corresponds with the NNE trending Campelo-Silva vein system, the true thickness factor applied was much higher due to the low angle that such veins have been intersected.


Click here for the full ASX Release

This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

RFR:AU

Work at the company’s Cancet project is building toward a maiden resource in Q1 2023, said Managing Director Chris Evans.


Although prices have cooled off from the highs seen earlier this year, the lithium market remains in focus and investors are interested in how to get exposure to the green energy transition.

Chris Evans, managing director at Winsome Resources (ASX:WR1), said Australian investors in particular are aware of the lithium opportunity, and reacted well to the company’s ASX listing this past November.

The company initially came to market with three lithium assets in the James Bay region of Quebec, and has since acquired two additional lithium projects in the province.


Speaking to the Investing News Network, Evans explained that Cancet is the company’s main focus. Recent assay results released during the Prospectors & Developers Association of Canada (PDAC) convention build on previous drilling at the property, and have increased the known pegmatite strike length to 1,200 meters from 600 meters.

Looking forward, Evans said that two geological teams are now on the ground at Cancet, and are investigating targets identified through geophysical surveys to figure out which of them require drilling.

Known pegmatites that have already been drilled are also being stripped and cleared so that the company can complete field mapping and decide where to drill next.

“Really all that’s working towards a maiden resource in the first quarter of 2023,” said Evans.

In terms of the overall lithium market, he said a recent Goldman Sachs (NYSE:GS) report saying the battery metals bull market is “over for now” put a damper on sentiment, but is generally not thought to be a major concern.

“I think that probably initiated a bit of a correction in the market, which may have been needed because lithium prices and stocks were at all-time highs,” he said. “But in terms of an oversupply like Goldman Sachs is predicting, I haven’t heard anyone agree with that since I’ve been here at PDAC.”

Watch the interview above for more from Evans on Winsome Resources and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Winsome Resources is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

person using credit card to pay for something on their phone

Revenue from Australia's mobile sector is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026. Here's what to know about this industry.

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.


In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.

"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.

Understanding Australia's mobile tech landscape

One of the drivers of Australia's tech sector expansion is its booming mobile telephone industry. This expansion has taken many forms ranging from expanded use of mobile telephony, adoption of blockchain technology for supply chain management and the rise of the cryptocurrency market. The application of mobile tech to the banking industry is just one space where mobile usage has become key and is expected to continue developing. According to research firm KPMG, digital platforms will become the preferred and dominant business model form.

Chase Bank completed a survey revealing that the COVID-19 pandemic has accelerated the adoption of mobile banking technology. Banking apps allow users to deposit cheques, pay bills and perform transfers from their mobile device.

One critical side effect of COVID-19 has been the way lockdowns and related restrictions on behaviour has changed the way people live and work. Remote working conditions and enforced isolation has triggered increased demand for improved connectivity and internet speeds to facilitate this transition in corporate culture during the pandemic.

As a result, Australia's leading mobile telephony giants have been obliged to improve data capacity and speed, especially in regional areas that have badly lagged behind urban coverage. Some people have relocated to regional areas — where connectivity remains a challenge — and others are requiring more data capacity and fast speeds to allow them to work more efficiently from home.

The Australian mobile sector is dominated by three main players: Telstra (ASX:TLS), Optus — a subsidiary of Singapore-based Singtel (SGX:Z74) — and TPG Telecom (ASX:TPG). Telstra is the largest provider of mobile services with 48.7 percent market share followed by Optus at 26.3 percent.

In 2022, there have already been several major new developments in the Australian mobile sector. One such event has been the tentative network sharing agreement announced in February between Telstra and TPG Telecom, which brings an end to the bitter rivalry between the two competitors. The agreement provides a comprehensive framework for the two telecom giants to share mobile telecommunication infrastructure across Australia.

TPG and Telstra will both enjoy significant savings and benefits from this arrangement. Telstra will reap up to AU$1.8 billion in added revenues while gaining access to TPG's spectrum that expands Telstra's fixed wireless services in regional areas. Correspondingly, TPG gains access to 3,700 Telstra towers in regional areas; this means TPG does not have to spend significant money to duplicate the infrastructure for its own use.

In addition, Telstra announced earlier in the year that it will spend up to AU$1.6 billion on new infrastructure intended to improve connectivity and internet speeds as part of its response to the overall need to accommodate rising consumer demand in the wake of the pandemic.

What's the outlook for mobile tech in Australia?

One of the positive side effects of the pandemic has been the increasing adoption of wireless services by Australians and the ownership of internet-of-things devices that are prevalent in nearly all households.

According to GlobalData, a data and analytics company, mobile sector revenue in Australia is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026 at a compound annual growth rate of 3 percent. This revenue growth will mainly accrue from growth in the mobile data subsector.

Meanwhile, the three leading telephone companies will not only be expanding their 4G services but rolling out 5G networks across the country. 5G allows for improved and additional smartphone services and also enhances fixed wireless services that are competitive with higher speed National Broadband Network (NBN) connections.

In addition, low earth orbit satellite services are beginning to roll out in Australia led by Elon Musk's SpaceX's Starlink service that offers broadband connections delivered via its satellite network.

Overfall, the winding down of restrictions due to COVID-19 will likely see the big three companies enjoy higher revenues in 2022 after declines in earnings owing to the pandemic. Telstra, Optus and TPG Telecom all experienced significant earnings drops between 2020 and 2021 due to reduced international roaming fees, softening demand for headsets and ongoing adoption of NBN services.

But the outlook for 2022 is positive given overall improved economic prospects as Australia emerges from the pandemic, which actually increased overall consumer use of communication services in 2021.

Lockdowns resulted in increased consumer uptake of online services such as online shopping, data-intensive video streaming and the additional household usage of communication services. Indeed, in 2021, data traffic reached record highs as Australian consumers demanded improved internet speeds and unlimited data plans. Remote work will likely continue to remain elevated in 2022 and beyond, which should reinforce increased consumption of home communications services.

Telstar and TPG Telecom in particular are embarking on long term strategies that will drive future earnings growth via accelerating 5G adoption, expansion in dark fibre, and increased adoption of new services such as edge/cloud computing.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.

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