Element 25’s Q2 Results Highlight Push to Production

Element 25’s Q2 Results Highlight Push to Production

The report indicates the company is progressing towards high-grade production at the Butcherbird project in Western Australia.

Manganese exploration and development company Element 25 (ASX:E25), formerly Montezuma Mining, has released its second quarter results for the company’s flagship project Butcherbird.

The report indicates the company is progressing towards high-grade production at the Western Australia site.

In May, a scoping study was completed at Butcherbird, which returned robust results and further enforced the indicated and inferred resource estimate of 180 metric tonnes at 10.8 percent manganese. The study also encouraged the commencement of an ongoing pre-feasibility study.

“The results were encouraging and a clearer pathway to the projects development has been mapped out,” Justin Brown, Element 25’s executive director noted in the announcement. “We see great potential at the Butcherbird for increasing the resource and rapid mine development leading to the company becoming a manganese producer in the near-term.”

The Australian miner is so focused on becoming a manganese producer the company changed its name from Montezuma Mining to Element 25 in mid-May. The new name pays homage to manganese’s atomic number, 25.

The exploratory study at Butcherbird identified the site’s ability to produce a by-product that is increasingly in-demand, high-purity manganese including electrolytic manganese metal and manganese sulphate for lithium-ion batteries.

Element 25 has been in talks with lithium-ion battery manufacturers to discuss offtake deals once production is reached.

The potential to produce the valuable metal that is a critical component in high tech batteries, has prompted Element 25 to focus operational efforts on completing a pre-feasibility study on the development of the project.

“Drilling programmes for infill drilling of the resource to measured status as well as groundwater exploration work have been planned and POW’s are lodged and approved respectively,” notes the company press release.

Butcherbird is estimated to host Australia’s largest onshore manganese resource and deposit.

Element 25 shares remained flat on Monday (July 30), closing at AU$0.20.

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

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

Tempus Closes A $1.9 Million Private Placement

Tempus Resources Ltd (“Tempus” or the “Company”) (ASX:TMR)(TSX.V:TMRR) is pleased to announce that it has closed the non-brokered private placement announced on 23 April 2021 (the “Placement

The Placement has been completed utilising the Company’s available capacity under ASX Listing Rules 7.1 and 7.1A. It includes two tranches: Tranche 1, which consists of 6,037,736 ordinary shares issued on 12 May, 2021, as “Canadian flow-through shares” at a price of C$0.155 (approximately A$0.163) per share for proceeds of approximately C$935,849; and Tranche 2, which consists of 6,065,425 ordinary shares issued on 30 April 2021 at a price of A$0.145 (approximately C$0.138) per share for proceeds of approximately A$879,487. The total proceeds from both Tranche 1 and Tranche 2 of the Placement are approximately A$1,866,149 (C$1,770,042). Following the completion of the Placement, the Company has 98,744,613 shares on issue.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Appendix 2A

The announcement can be viewed at:

Keep reading... Show less

Massive Sulfide Nickel Drilling Update

Blackstone Minerals Limited (“Blackstone" or the “Company") is pleased provide an exploration update on its flagship Ta Khoa Nickel-Cu-PGE project, for which assay results have been received from drilling at its Massive Sulfide Vein (MSV) prospects (refer Table 3, Table 4 & Appendix 1).

Keep reading... Show less

Novo Completes Malmsbury Option Exercise with GBM Resources Limited

Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to advise that it has completed its option exercise to earn a 50% interest in the Malmsbury gold project (the “ Malmsbury Project ”) held by ASX-listed GBM Resources Limited (ASX: GBZ) (“ GBM ”) following the satisfaction of all conditions precedent, including receipt of Australian Foreign Investment Review Board approval (refer to the Company’s news releases dated March 30, 2020 September 24, 2020 and January 15, 2021 for further details).

“We are thrilled to complete our option exercise at Malmsbury,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production. Our geologic team will pursue aggressive field work over the next few months with the goal of developing drill targets for testing later this year.”

Keep reading... Show less

Rare Earth Elements Demand is Still Growing

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the sand. Neodymium and praseodymium (NdPr) represent about 80% of the value of REE concentrate. Demand for these elements is growing because of their use in electric vehicles, wind turbines, and appliances. Adams Intelligence expects the demand for NdPr to double in the next five years. Removing REEs from monazite and then separating REEs into individual components is a complicated process. Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading... Show less

Top News

Related News