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Drilling Returns 44g/t from Significant 125m Down-Dip Extension of Known Mineralisation
Exceptional result from first hole of maiden surface drilling program highlights the immense scale and scope to grow high grade Labyrinth deposit
Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to announce that the first hole of the 3,000m maiden surface exploration program at its flagship Labyrinth Gold Project in Quebec, Canada has delivered a high-grade result grading up to 44g/t from significant 125m down dip of the currently defined Front-West lode.
Key Points
- Partial assays received for first surface hole at Labyrinth has returned an outstanding intersection 125m down-dip of the currently defined Front-West lode, with assay result of:
- 2.2m @ 10.67g/t from 143.5m including 0.5m @ 44.12g/t and
- 1.0m @ 7.43g/t from 147.8m in hole LABS-22-01A as part of a broader mineralised interval of 8.1m @ 4.05g/t from 143.5m
- Visual quartz and pyritic mineralisation observed in LABS-22-01A and hole 2 (LABS-22-02) indicates mineralisation extends down dip for at least a significant 375m
- Visual intersections reveal typical Labyrinth style mineralisation and indicate a significant extension to the many defined lodes, both at depth and along strike, and a potentially substantial step change in project scale
- Labyrinth only shallowly drilled in comparison to other significant projects in the region which are host to multi-million ounce deposits (refer Figure 2)
- Assays pending on remainder of hole 1 and hole 2, hole 3 of 3,000m program currently underway
- All assays from underground drilling received; Maiden JORC Mineral Resource Estimate on track for release in current quarter
Figure 1 – Maiden surface exploration targeting mineralisation extensions to depth of up to ~700m below surface
Assays are pending for the remainder of hole LABS-22-01A and for all of LABS-22-02, with drilling of LABS- 22-03 underway.
Quartz and pyritic mineralisation characteristic to Labyrinth has been observed across multiple lodes, indicating the mineralisation extends up to ~375m down plunge and to a depth of ~550m below surface.
Labyrinth Chief Executive Matt Nixon said: “To hit 44g/t in the first hole is an outstanding start to our surface drilling program. And we are highly encouraged by what we see in the second and third holes.
“We now eagerly await results for the rest of the surface campaign, which will test vertical lode extensions down to approximately 700m and across the majority of the 1.6km strike.
“At the same time, we are completing the maiden JORC resource estimate, which is set for release later this quarter.
“To consider that we are only just beginning to test the comparatively shallow extents of this highly prospective gold system in the prolific Abitibi Belt is very exciting.”
Figure 2 - Significant Gold Projects within 100km radius of Labyrinth1
Labyrinth Exploration Update
The maiden surface diamond drilling program at Labyrinth Gold Project commenced in late June 2022 and consists of approximately 3,000m across 5 holes targeting extension of the known resource mineralisation to depths of up to ~700m across ~1.2km of the currently defined 1.6km in strike.
Click here for the full ASX Release
This article includes content from Labyrinth 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.
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Labyrinth Resources
Overview
Gold is a long-time favorite store-of-value asset to hedge against global turmoil. Investors have several ways to invest in the precious metal, whether buying bullion, investing in gold ETFs, or buying stock in mining companies. While there are gold deposits worldwide, Australia and Canada remain strong producers of the metal, ranking as the world’s second and fifth-largest gold producers, respectively.
Labyrinth Resources (ASX:LRL) is a junior mining company with underexplored gold assets in tier 1 jurisdictions of Quebec and Western Australia, including the Labyrinth Gold project located in the heart of the Abitibi Gold Belt. The asset has not received significant exploration or development attention for more than 15 years, creating tremendous upside potential.
Labyrinth Resources is exploring its Comet Vale property in Western Australia, which has historically produced over 180,000 ounces (oz) of gold with mining only going to a 250-meter depth. Multiple gold mineralized trends are present across the tenure as well as significant nickel and copper anomalies that have not been followed up. Recent work done by Ardea Resources (ASX:ARL) shows the project is prospective for significant Lithium-Caesium-Tantalum (LCT) pegmatites. The Walter Williams formation hosts Ardea’s KNP containing 854Mt at 0.71 percent nickel (Ni) and 0.045 percent copper (Co). High-grade Ni laterite intersections with proximal high Cu rock chips suggest there is nickel sulphide potential on the Comet Vale property.The Labyrinth Gold project has an inferred mineral resource of 3 million tons (Mt) @ 5 g/t for 500,000 oz (at 3 g/t.m cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off) and high grades of up to 62.5 g/t and widths up to 16 meters received across five individual lodes from maiden drilling. In 2022, Labyrinth announced outstanding metallurgical results from its comprehensive test work which demonstrate a clear, efficient processing pathway for its 500,000 oz Labyrinth Gold project. The company achieved an outstanding recovery through the gravity/flotation flowsheet, returning a low mass pull, high value 96 g/t gold concentrate at 97.3 percent recovery.
Labyrinth also completed a surface diamond drilling campaign at the Denain gold prospect, with a total of 4,018 meters drilled from 22 holes. The company has received all assays which confirmed the presence of two high-grade gold veins with associated copper that remain open in all directions. In December 2022, Labyrinth commenced an extensive exploration campaign at its Comet Vale Gold-Copper-Nickel project in Western Australia. The program is the first genuine surface exploration undertaken at Comet Vale in 15 years.
The company is well-positioned to acquire 100 percent ownership of the Labyrinth Gold Project from G.E.T.T Gold (TSXV:GETT). The final installment of the revised agreement is due for payment on September 29, 2023.
The company has an experienced, lean management team with a record of success in the natural resources industry. The team comprises mine engineering, geology, corporate administration, and international law experts, building confidence in Labyrinth’s ability to capitalize on its promising assets. In a current global environment desperate for genuine underground operational expertise, the Labyrinth team possesses the required skill set to leverage into value-accretive operating mine opportunities.
Company Highlights
- Labyrinth Resources is a junior mining company with an underexplored gold asset on the Abitibi Gold Belt in Quebec and a highly prospective multi-commodity project in the Yilgarn Craton of Western Australia.
- Quebec is a globally recognized tier 1 mining jurisdiction with strong government and community support.
- The project’s current inferred mineral resource of 3 million tons (Mt) @ 5 grams per ton (g/t) for 500,000 ounces (oz) (at 3 g/t.meters cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off) and high grades of up to 62.5 g/t and widths up to 16 meters received across five individual lodes
- The company’s project is surrounded by prolific mining companies with multi-million-ounce gold deposits, with testing of the Labyrinth deposit barely scratching the surface in comparison to the deep nature of many Abitibi gold operations.
- Comet Vale lies within the prospective Menzies mining area, well-located on the Goldfields highway 100km north of Kalgoorlie.
- There is significant high-grade, multi-lode gold production across the tenement package and under-explored multi-commodity potential
- A combined open pit and underground Indicated and Inferred Minerals Resource of 619,000t at 4.8g/t for 95,710oz
- The Comet Vale UG resource is estimated to be 56,233oz at 7g/t (2.5g/t cut-off) and the open pit resource as 39,477oz at 3.3g/t (0.5g/t cut-off)
- The mineralised shear is open at depth and north and south of the the 5km
- Multiple lodes on the tenement package in historic workings have not been explored below 50-100m
- A management team with a proven track record of success in the natural resources industry adds value to the company. It creates confidence in its ability to fully capitalize on its projects.
Key Projects
Comet Vale Project
The company’s Comet Vale project is located 100 kilometers north of Kalgoorlie. It hosts extensive high-grade gold with existing underground development and infrastructure. The project is surrounded by historic high-grade gold mines with past production from the Sand Queen and Sand George mines totaling 181,000 oz @ 23 g/t with multiple other high-grade satellite deposits.
Drilling at the Comet Vale commenced in March 2023 with an initial 20 holes covering 1,500 meters. The program was designed to test extensions to known mineralization of the high-grade Sovereign Trend. High-grade assays were received and significant results from this program include:
- 5 meters @ 15 g/t gold from 46 meters including 2 meters @ 35.6 g/t from 49 meters in hole CVRC23_008
- 3 meters @ 11.41 g/t gold from 46 meters in hole CVRC23_007
- 2 meters @ 15.53 g/t gold from 126 meters including 1m @ 25.56 g/t from 127 meters in hole CVRC23_016
The Sovereign Trend has an updated high-grade JORC 2012 mineral resource estimate that laid the foundation for further growth:
- Combined open pit and underground indicated and inferred mineral resource of 619,000 tons @ 4.8 g/t gold for 95,710 oz
- Underground resource of 56,233 oz @ 7 g/t (2.5 g/t cut-off)
- Open pit resource of 39,477 oz @ 3.3 g/t (0.5 g/t cut-off)
- Notable high-grade indicated mineral resource component of 42,000 oz @ 10 g/t gold (above 5 g/t gold cut-off)
Compilation of historic results and mapping is in progress, which expands upon the Sovereign Trend and has validated the extensive gold prospectivity still existing below 50m depth across the tenement package.
The Labyrinth Gold Project
The company’s flagship project sits on the Abitibi Gold Belt and has neighbors with multi-million-ounce gold deposits. However, the asset has not received significant exploration attention for the past 15 years. Only one 400-meter hole was drilled in that timeframe, leaving much of the asset untouched by modern exploration technologies. Fortunately, the asset contains a pre-existing and accessible underground mine, significantly reducing upfront development costs.
Project Highlights:
- Multimillion-ounce Potential: Recent exploration campaigns have identified targets for follow-up drilling that indicate targets with ideal historical intersections of multiple lodes. The company has completed maiden underground and surface exploration campaigns in 2022 to facilitate delivery of the maiden JORC estimate and demonstrate high-grade mineralization continuity at increasing depth.
- Updated Resource Estimate: JORC 2012 compliant inferred mineral resource of 3 Mt @ 5 g/t for 500,000 oz (at 3 g/t.m cut-off) with a notable high-grade component of 150,000 oz @ 10 g/t (above 6 g/t cut-off)
- Strong Existing Infrastructure: The project contains an underground mine, reinstated heating, operational surface buildings and ground support.
Management Team
Jennifer Neild - Chief Executive Officer
Jennifer Neild is a resources executive with more than 18 years of experience in exploration across a broad range of commodities in various jurisdictions. She was most recently chief executive officer of Peak Minerals (ASX:PUA). Neild holds a degree in Geology (Hons) from Laurentian University in Sudbury, Ontario, and a Master's in Geophysics from Curtin University in Perth, Western Australia. She has held senior positions in exploration, resource geology and production geology in both Australia and Canada with Newmont Australia and Falconbridge. She was the general manager of interpretation for expert geophysics group HiSeis. With her geological and geophysics expertise in both Western Australia and Canada and her corporate and executive experience in the resources industry, Neild is ideally placed to drive the next round of exploration at the company’s Labyrinth and Comet Vale projects. She is also a member of the Australian Institute of Company Directors.
Dean Hely - Non-executive Chairman
Dean Hely is the managing partner of West Australian legal firm Lavan, with more than 29 years of experience working in corporate reconstruction, insolvency and commercial litigation. Hely currently serves as a board member of the not-for-profit organizations Rugby WA, the Australian Institute of Management WA and Youth Focus.
Simon Lawson - Technical Director
Simon Lawson is a professional geoscientist with more than 15 years of experience spanning multiple commodities and jurisdictions and was a founding team member of Northern Star Resources (ASX:NST). Currently, Lawson is the managing director of ASX-listed Spartan Resources Ltd (ASX:SPR) (formerly Gascoyne Resources (ASX:GCY)), a West Australian gold-focused mining company, and has personally visited and reviewed the acquired Canadian gold properties.
Matt Nixon - Non-executive Director
Matt Nixon is a qualified mining engineer with more than 13 years of experience in successful underground and open-pit operations working for both mining contractor and mine owner companies across gold and other commodities. Most recently, Nixon worked as the mining manager at Northern Star Resources (ASX:NST) flagship Jundee Operations. He has also held operational and senior positions with St Barbara and Redpath Australia. Nixon holds a Bachelor of Mining Engineering with honors from the University of NSW and a WA first class mine manager’s certificate and is a member of the Australian Institute of Company Directors.IND Establishes HPQ Exploration Target at Pippingarra Project
Industrial Minerals Ltd (ASX: IND or the Company) is pleased to announce a Maiden Exploration Target for High Purity Quartz (HPQ) at its Pippingarra Quarry Project (Pippingarra) located 30km south-east of Port Hedland, in the Pilbara region of Western Australia (Figure 1).
Highlights
- IND’s recent RC drilling program informs a Maiden High Purity Quartz (HPQ) Exploration Target at the Pippingarra Quarry Project.
- Drilling is planned for the exploration target area and to test several quartz occurrences mapped across the wider Mining Lease area.
- IND plans to commence work on a HPQ Mineral Resource Estimate in parallel with metallurgical testwork being conducted by potential offtake partners and third-party mineral processing laboratories.
- A 300kg Pippingarra quartz sample crushed from existing quarry stockpiles sent to China in late 2023 produced a >GG.GG4% SiO2 end product following standard HPQ processing1.
- A further 24 tonne bulk sample comprising crushed quartz rock has been shipped to China for processing, metallurgical test work, and assessment by potential offtake partners.
Figure 1: IND Pippingarra Quarry Project location and infrastructure.
In October 2023, IND announced the agreement of binding terms2 with North West Quarries Pty Ltd (NWQ) for an exclusive option to acquire an 80% interest in the non-construction material mineral rights.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“Following on from one of our potential offtake partners in China achieving a processed High Purity Ǫuartz product grading >SS.SS4% SiO2, we are extremely positive about the potential to supply Pippingarra quartz into high-end quartz markets.
“The Pippingarra Exploration Target is limited to an area where IND completed RC drilling in late 2023, to the east of the existing open pit. There are several quartz outcrops mapped across the broader Mining Lease area that will also be drilled with the intention to include these untested HPǪ target opportunities in the upcoming Mineral Resource Estimate (MRE) for Pippingarra.
“Our motivation to commence work towards a MRE is to leverage our unique position of having an active mining operation at the Pippingarra Ǫuarry. We believe this will give potential offtake partners the confidence to enter into offtake agreements with IND, knowing that we can rapidly advance to be mine ready and have a suitable mine life to support long term supply needs.”
Maiden High Purity Quartz Exploration Target
Table 1: Pippingarra HPQ Exploration Target range.
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
The Exploration Target is based upon the Reverse Circulation (RC) Drilling program completed by IND in December 2023. Drilling was conducted on a 50m x 50m spacing. From this, holes INRC003 – INRC009 recorded thicknesses of white crystalline quartz over widths from 12m to 20m as reported in the Table 2 below.
Click here for the full ASX Release
This article includes content from Industrial Minerals 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.
China-Based Battery Grade High-Purity Manganese Production Strategy
Investor Site Visit Presentation - April 2024
BUILDING A LOW-COST HIGH-PURITY MANGANESE SULPHATE PLANT
Unique, Low-Cost, Speed-to-Market Strategy
Successfully executing a high-purity manganese sulphate strategy to supply into the rapidly expanding LMFP battery market . Investor Site visit in China to demonstrate the compelling opportunity for Firebird to establish itself as a key, low-cost, near-term producer
Sustainable Economics and Perfect Timing
Firebird to become of one of the lowest-cost battery grade MnSO4 producers, placing the Company in a competitive position in all market environments, at a time when the LMFP market is forecasted for exponential growth and become a >US$20 billion market by 2030
Management, Board and In-Country Team with Sector Leading Credentials
Led by a Board and Management team with proven abilities of building companies through the lifecycle and into production. Assembled a proven and high-quality team in China, who are leaders in the development and production of high-purity manganese
Well-Funded and Supported
Strong cash position of $7.36m (as of 31 Dec 2023) to fund key workstreams across China strategy and at Oakover. Firebird has attracted a strong investor register supported by a highly-reputable investor Canmax Technologies Co., Ltd with a 9.7% holding
DEVELOPMENT PROGRESS IN CHINA CONTINUING AS PLANNED
- Preliminary design work, R&D centre, equipment supplier due diligence & project permitting are all being progressed at full speed
- Estimated permitting & design on track for completion by late Q3 2024
- European customer site visits & off-take discussions commenced with excellent feedback
- Formal advice from Jinshi Government & relevant departments on process to repatriate profits and capital from operations
- As further proof of the strong levels of support in-country, Firebird will also receive a preferential tax rebate for 6 years
- Australian investor & broker site visit to key areas in China, including Jinshi High-Tech Industrial Park, Pilot Plant and Jinshi Port to take place on April 23
- Oakover project development continues as planned and forms an integral part of Firebird’s long term manganese battery materials strategy
Click here for the full ASX Release
This article includes content from Firebird Metals 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.
Summit to Acquire Transformational Brazilian Niobium, Rare Earth & Lithium Portfolio
Summit Minerals Limited (ASX: SUM) (“Summit” or the “Company”) is excited to announce that it has signed binding agreements (“Agreements”) to acquire tenement packages highly prospective for rare earth elements (REE), niobium, and lithium. Term sheets were signed with vendors RTB Geologia & Mineracao Ltda (RTB), Sandro Arruda Silva Ltda. (SAS), and Mineracao Paranal Ltda (MPL) to acquire legal ownership and title over certain Exploration Permits and Applications for Exploration covering an area of 29,267 hectares in Minas Gerais and Paraiba States, Brazil (Figure 1; Table 2).
HIGHLIGHTS
- Summit has entered into a binding purchase agreement to acquire 100% of JUAZEIRINHO (Nb, REE), EQUADOR (Nb, REE), ARATAPIRA (REE), SANTA SOUSA (REE), T1/T2 (REE) & HERCULES NORTH & SOUTH (Li) Projects situated in the mining friendly and commodity-rich states of Minas Gerais & Paraiba.
NIOBIUM AND REE PACKAGE HIGHLIGHTS
- The Niobium and REE tenement package consists of Juazeirinho, Equador, Aratapira, Santa Sousa and T1/T2 Projects, covering a combined strategic area of 10,747.36 Hectares (107.47 km2) across 11 granted tenements.
- Exceptional grades in Niobium Pentoxide (Nb2O5) and partial rare earth oxide (PREO) were produced in panned concentrates from pegmatite and sediment samples at Juazeirinho and Equador (Paraiba State).1:
JUAZEIRINHO ASSAYS (Niobium & REE)
- 355,400ppm or 35.54% (Nb2O5) + 14,080ppm PREO or 1.408% PREO (SID 099/24)
- 107,010ppm or 10.7% (Nb2O5) + 142,080ppm PREO or 14.208% PREO (SID 098/24)
EQUADOR ASSAYS (Niobium + REE)
- 303,400ppm or 30.34% (Nb2O5) + 15,130ppm PREO or 1.513% PREO. (SID 100/24)
- Nine of 17 rare earth elements were analysed by the previous owner and used in PREO calculations, implying higher TREO (total rare earth oxide) values are probable.
- Numerous LCT-pegmatite bodies were observed at Equador and Juazeirinho, indicating good potential for columbite/tantalite, lithium, with significant concentrations of niobium across these projects.
LITHIUM PACKAGE HIGHLIGHTS
- The lithium tenement package consists of the Hercules North and the Hercules South projects, covering 18,519.44 hectares (185.19 km2) across 14 licenses (granted and applications) situated in the prolific Jequitinhonha or Lithium Valley (Minas Gerais), where 85% of Brazil’s lithium resources are located.
- Numerous artisanal mines exist within & near the tenement boundaries, where large LCT pegmatites have been identified that produced beryl, aquamarine, and spodumene in economic quantities, as evidenced by local stockpiles from garimperios production.
- Artisanal surface mining has been prominent across all projects, providing priority drill targets for deeper-level pegmatite-related mineralisation.
- Summit has established an in-country exploration team ready to conduct an aggressive exploration program on all tenements concurrently.
- Summit has a strong balance street, having ~A2.2m AUD in the treasure as of the last quarterly cash report2.
Summit Managing Director, Gower He, commented:
“We are extremely pleased to acquire these highly prospective projects. We anticipate acquiring these niobium, REE and lithium projects will enhance our company’s status as a critical mineral explorer and developer.
Over the last few months, we have assessed many options for project acquisition and have chosen these highly prospective and large-scale projects within the established mining-friendly jurisdiction of Brazil. Additionally, Brazil, being a relatively geopolitically neutral jurisdiction, should provide us with unrestricted access to global off-take and funding options, giving our projects the best chance of success within the macro environment.
In addition to some of the strong historical grades, we received great observational reports from our recently completed on-site DD, from which we await rock chip and soil assay results. Expansive exploration programs are already being planned as we look to rapidly develop our projects, giving ourselves the highest chance of success.
I would like to personally thank all our loyal shareholders for their ongoing support. We look forward to regularly informing the market of our progress.”
Click here for the full ASX Release
This article includes content from Summit Minerals 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.
Positive Findings from Newmont Ti Benchmarking Study
West Cobar Metals Limited (ASX:WC1) (“West Cobar”, “the Company”) is pleased to provide an update on activities at its Salazar critical minerals project in Western Australia.
Highlights
- Titanium industry expert TZMI completes titanium benchmarking study on the Salazar Critical Minerals Project
- Study identifies Newmont as a standout from its peers in terms of Ti and TREO in-situ grade
- Benchmarking study is highly encouraging and supports validating flowsheet for production of titanium minerals from Salazar
Following successful characterisation testwork of Ti mineralisation at the Newmont Deposit area1, West Cobar Metals engaged international titanium expert TZ Minerals International Pty Ltd (TZMI) to complete a benchmarking study of the Newmont resource.
TZMI is a global, independent consulting and publishing company which specialises in all aspects of the mineral sands, titanium dioxide and coatings industries2.
The Newmont resource3 and characterisation data was used by TZMI to benchmark the Salazar project deposit against several existing operations and potential new projects under development using publicly available information and TZMI estimates. The outcomes of the benchmarking are shown in Figure 1.
The benchmarking study shows that the Ti contained within the Newmont deposit has promising potential for economic extraction and that the Newmont resource is positioned favourably amongst peer resources in respect of both Ti and rare earth element content.
Figure 1 : Salazar Project (Newmont deposit) benchmarking
The relative positioning of the Newmont Inferred Ti and rare earth element resource is very positive for West Cobar, with relatively high insitu TiO2 grades and TREO grades compared to its peers. The Ti levels of the resource (on a whole rock basis) compare very favourably to both developing and operating projects.
TZMI concluded that “In terms of final ilmenite product quality, the composition of the magnetic fraction (comprising predominantly ilmenite) shows some promise with TiO₂ levels as high as 48.5%. This suggests the ilmenite is likely present as primary ilmenite … the CaO, MgO, V₂O₅, Cr₂O₃ in the magnetic fraction all seem relatively low which is positive and likely to be within the accepted levels for ilmenite used in sulfate pigment production.”
Click here for the full ASX Release
This article includes content from West Cobar Metals 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.
High Grade Copper Rock Chips to 18% on New Targets at Ti-Tree
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise the results of recent reconnaissance mapping and sampling at the Ti-Tree Project, located 200kms east of Carnarvon in Western Australia. The mapping, supported by 26 rock chip samples, identified two areas containing mineralised veins and historic workings (Figure 1). Neither of these prospects are recorded on GSWA maps.
- Two new prospects, Tiberius and Claudius, have returned high-grade copper and significant silver assays in rock chips from recent field work
- High grade assays up to 17.8% Cu and 282g/t Ag have been discovered on the Tiberius zone, currently 3m wide and extending for over 200m along strike.
- Claudius, 11km south of Tiberius, comprised of several parallel zones over a 100m by 300m area, returned grades up to 6.6% Cu and 86g/t Ag.
- The discovery of these prospects, 30km northwest from Copper Ridge which contain historic workings not marked on GSWA maps, highlights the significant prospectivity of the Gascoyne region.
- Further field work is being planned to determine the extent of these new discoveries.
Andrew Ford, GM Exploration
“These results highlight the potential of this underexplored area to host as yet undiscovered mineralisation. Less than 5% of the 3,600 sq km area of the Ti-Tree Project has had any previous exploration, and to discover unrecorded historic mining areas is very exciting. These results are a credit the Augustus geological team.”
Figure 1 Location of the Tiberius and Claudius prospects
Tiberius
Reconnaissance field work conducted on the Ti Tree Project’s northwestern tenement has discovered high grade copper and silver mineralisation (Figure 3) in two areas. Tiberius, the northern target comprises a quartz-sulphide vein system up to 3m wide and outcrops for over 200m (Figure 5).
A shallow shaft has been dug on the vein system (Figure 2). Another vein set was identified 600m along strike east-northeast of the main vein increasing the potential size of the target. The high grade veins contain both oxidized copper, high silver grades, lead sulphide and anomalous gold (Table 1).
Claudius
The Claudius prospect is located 10km to the southwest of Tiberius, comprised of quartz veined brecciated and silicified granite with mineralised veins mapped over a 100m x 300m area. The main area of outcropping mineralisation has been trenched by prospectors and rock chip sampling returned strong copper mineralisation in an iron rich siliceous vein. Silver was consistently elevated (up to 86g/t) with associated gold anomalism to 0.68g/t (Table 1, Figures 4 and 6).
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
From the Bronze Age to the Green Revolution: Mining's Timeless Role in Shaping Humanity's Future
Mining is one of the oldest industries on Earth. With activity stretching back as many as 40,000 years, human advancement is closely correlated to our relationship with metals and minerals.
Indeed, modern society has been made possible through the extraction of metals and the ages this work has ushered in, from the historic Bronze Age to the more recent Industrial Revolution.
Now, 54 years after the inaugural Earth Day, the world is preparing for the green energy transition. And as this essential shift moves forward, metals are again playing an integral role in achieving the ambitious goals set globally.
During his presentation at the annual Prospectors & Developers Association of Canada convention, mining industry figure Mark Cutifani recounted the role the mining sector has had in humanity's past and will play in its burgeoning future.
“I'm focused on how we might catalyze new conversations around mining and its contribution to society,” he told listeners at the annual event, which took place in early March. “It is through our great pioneers and innovators that we continue to transform our work, and its value to society in so many different dimensions”
In simple terms, everything we use and make is derived from materials like metals and minerals, noted Cutifani.
Minerals used in electric cars compared to conventional cars.
Chart via the International Energy Agency.
In his view, while technical discussions about improving industry practices are essential, it's also crucial to help people understand the significance of the mining industry in the functioning of society as a whole.
For example, the average smartphone uses 13 metals and minerals, while electric vehicles require seven, including copper, lithium, nickel, manganese, cobalt, graphite, zinc and rare earths.
Mining's key role in the world's future
Cutifani went on to highlight how metals and minerals contribute to the health of our waterways and oceans.
“The provision of clean water is an absolute necessity to sustain life as we know it. We need minerals to purify, pump, use and recycle water. (We are) an industry that uses about 3 percent of the world's water to support everything else that happens on the planet. We are overwhelmingly a positive for global water balances,” he said.
In addition to water, the mining of phosphate and potash is imperative to global food supply, according to Cutifani, because without the valuable fertilizers they produce, “we could only feed half the planet.”
Even though there may be debates about eliminating certain products like fertilizers, he said it's essential to understand the broader implications and consequences of such decisions on global food security.
Beyond food security, metals and the alloys they produce have allowed us to curb urban sprawl through skyscrapers and high-rise residential towers that require steel and concrete, both of which are produced using mined and quarried materials. While we often hear of the vast amounts of metals needed for the energy transition, Cutifani noted that the energy transition debate tends to overlook other critical global issues like water, food security and shelter.
In his view, addressing global challenges will require the consideration of all fundamental human needs. It's essential to broaden the conversation and recognize the interconnectedness of various societal issues.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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