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EUR Loan Facility Conversion
Cyclone Metals Limited (ASX: CLE) (Cyclone or the Company) previously entered into loan agreements with European Lithium Limited (ASX: EUR) and was advanced funds totaling $2,250,000 (EUR Loans).
The Company advises that the parties have agreed that the principal amount of $2,250,000 plus accrued interest will be converted into equity based on a share conversion price of AUD $0.002. All other terms and conditions of the EUR Loans remain unchanged. Paul Berend, Executive Director and CEO of Cyclone, commented “It is fantastic news that EUR has decided to convert its debt into equity. It shows they have great confidence in our management team and focus on developing the recently acquired world-class Block 103 magnetite iron ore project”.Announcement authorised for release by the board of Cyclone.
Click here for the full ASX Release
This article includes content from Cyclone Metals Ltd., 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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Cyclone Metals
Overview
Cyclone Metals (ASX:CLE) is a listed exploration and development mining company focused on developing a world-class iron ore project in Canada referred to as project Block 103 or project Iron Bear. The company completed its acquisition of Labrador Iron, which owns 100 percent of the Block 103 magnetite iron ore project in Canada.
Iron Bear is located in the Labrador Trough in Canada, 30 kilometers from the town of Schefferville, and is within 20 kilometers of an open-access heavy haul railway directly connected to the Sept Isles iron ore export port. The Labrador Trough is a well-established and stable iron ore exporting district which harbors numerous iron producers including IOC (Rio Tinto), Champion Iron and Tata Steel, all of which benefit from the same rail and port infrastructure.
Iron Bear is a well-advanced project with over US$35 million of expenditures to date, including mineral resource drilling, metallurgical test work, geological modelling, engineering studies and risk assessments.
A maiden NI 43-101 mineral resource was defined by Watts, Griffis and McOuat in 2013, and updated in April 2024. A preliminary economic assessment( PEA) study was completed by BBA Inc. These independent studies highlight the exciting value embedded in Iron Bear, and the potential to produce large volumes of direct reduction pellets for a low cash cost, leveraging the low stripping ratio (0.4:1), and access to competitive hydro power. The company's upgraded JORC-compliant mineral resource statement and related mineralogical test work results show indicated and inferred mineral resource of 16.6 billion tons containing 29.3 percent total iron and 18.2 percent magnetic iron.
Iron Bear - regional access and infrastructure
As the company ramps up the development of the Iron Bear Project, Cyclone Metals has entered into a binding term sheet with BVI-registered company Moosh Moosh Limited for the sale of its non-core gold assets which include the Nickol River Gold Project tenements in Western Australia, the Longwood Range Gold Copper PGE Project, Mareburn Gold Project, Macraes South Gold Project, Drybread – Waikerikeri Gold Project, and Muirs Gold Project located on the North and South Islands of New Zealand.
Company Highlights
- Cyclone metals owns 100 percent of the world-class Iron Bear iron ore project in Canada and has approximately AU$8 million of liquid investments in ASX listed resource companies.
- The world class Iron Bear iron ore project has an indicated and inferred mineral resource of 16.6 billion tons containing 29.3 percent total iron and 18.2 percent magnetic iron (JORC and NI 43-101- compliant).
- Pilot plant metallurgical test work confirms reasonable prospects for future economic extraction.
- The Iron Bear mineral asset is located in the Labrador Trough, less than 15 kilometers from an open access heavy haul railway directly connected to the Sept Isles iron ore export port.
- Metallurgical test work completed on representative bulk sediment samples delivered a magnetite blast furnace concentrate produced grading 68.7 percent iron with very low deleterious elements and silica below 3.5 percent. The magnetite recovery ration was over 97 percent achieved with industrial processing equipment.
- A preliminary economic assessment suggests that the cash costs for producing blast furnace pellets could be very low, estimated at US$46.5 /t FOB Sept Isles due to a low stripping ratio (1/4) and access to hydropower.
- Iron ore is the world’s second largest commodity by value and underpins the growth of developing nations including China and India. The benchmark 62 percent Fe price has been on average US$95/t CFR China over the last decade. As of 04/12/23 the price of the 62 percent Fe benchmark was US$130/t and the price for BF pellets was US$182/t.
- The Iron Bear iron ore products will be tailored to minimise the carbon footprint of steel producers – further enhancing the value of the project for investors. Test work is ongoing to define an ultra-low carbon direct reduction pellet and concentrate.
- The management team of Iron Bear has communicated a very structured plan to develop the project and deliver value for stakeholders (investors and local communities). The achievement of each milestone is monitored and has clear accountabilities
Key Project
Iron Bear Project
The Iron Bear project consists of 10 licenses totalling 7,275 hectares on 291 graticular mineral claims under the applicable Labrador and Newfoundland mining regulation. The property is located near the provincial border of Newfoundland and Labrador and Quebec, approximately 30 kilometers northwest of the town of Schefferville, Quebec, and 1,200 kilometers by air northeast of Montréal.
Mineralisation at Iron Bear is typical of the Labrador Trough, being a magnetite/hematite taconite. The Labrador Trough is a 1,600-kilometer long and a 160-kilometer Canadian Proterozoic volcanic and sedimentary basin that extends from Ungava Bay south-southeast through Quebec and Labrador. The Labrador Trough has supported iron ore mining operations since 1954.
Project Highlights:
- World-class 100-percent-owned asset with an upgraded JORC mineral resource of 16.6 billion tons containing 29.3 percent total iron and 18.2 percent magnetic iron, of which 2.15 billion tons containing 28.68 percent total iron and 19 percent magnetic iron are in the indicated category.
- Mining friendly jurisdiction, less than 15 kilometers from an open-access heavy haul railway directly connected to the Sept Isles iron ore export port.
- A class leading blast furnace magnetite concentrate was produced grading 68.7 percent iron with very low deleterious elements and silica below 3.5 percent, and very high recovery >97 percent for magnetite iron.
- A preliminary economic assessment (completed in 2013 by Watts, Griffis and McOuat and BBA) highlights attractive financials: NPV = C$7.4 billion @ 8 percent WACC for 16.6 Mta production of acid pellets based on 62 percent Fe benchmark of US$110/t
- Low pellet cash costs US$46.5/t FOB Sept Isles due to favourable ore properties and access to hydropower.
- Iron Bear mineral resource can support large-scale production of quality pellets or concentrates - from 20 to 100 Mta.
- DRI pellets are critical for steel mills looking to reduce their carbon footprint, are in very short supply and carry large premiums.
Recent site work at Iron Bear
Pilot plant metallurgical test work confirms that reasonable prospects exist for eventual economic extraction at Iron Bear:
- Production of a direct reduction grade concentrate grading 70.6 percent iron and 1.2 percent silicon dioxide with an overall magnetic iron yield of 88.9 percent
- Production of a blast furnace grade concentrate grading 68.9 percent and 3.4 percent silica with a magnetic iron yield of 95.5 percent
- Very low deleterious elements (phosphorus, manganese oxide, etc.)
- Favourable grindability indices of BWi = 16.7 kWh/t and SMC = 11.7 kWh/t
Worker inspecting core from Iron Bear project site
Tony Sage, executive chairman, stated, "Iron Bear is an exceptional project and takes us back to our iron ore roots. We look forward to unlocking the full value of this world-class asset for our shareholders, whilst developing the project responsibly in a manner which maximizes the benefits for the local stakeholders.”
Paul Berend, CEO, stated “Given the massive scale of the Iron Bear deposit, the access to rail and port infrastructure, this is starting to look like the future. We are working hard to define a premium ultra-low silica direct reduction magnetite product which will be very attractive to European steel makers looking to reduce their carbon footprint.”
Cyclone Metals is underpinned by a highly credentialed management team with a successful track record in creating value for shareholders by developing similar iron ore ventures. The team’s expertise includes geology, mining, metallurgy, environmental management, capital deployment, project management, finance, corporate governance and administration.
Management Team
Antony (Tony) Sage - Executive Chairman
Tony Sage has more than 35 years of experience in corporate advisory services, funds management and capital raising predominantly within the resource sector. Sage is based in Western Australia and has been involved in the management and financing of listed mining and exploration companies for the last 22 years. Sage has operated in Argentina, Brazil, Peru, Romania, Russia, Sierra Leone, Guinea, Côte d’Ivoire, Congo, South Africa, Indonesia, China and Australia. Sage is currently the executive chairman of ASX-listed CuFe (ASX:CUF) and European Lithium (ASX: EUR). Sage is also the sole owner of A-League football club Perth Glory that plays in the National competition in Australia.
Paul Berend – CEO and Executive Director
Paul Berend brings over 20 years of experience in the iron ore and steel industry acquired in blue chip as well as junior mining companies worldwide. His previous corporate roles include GM Business Development for Rio Tinto Iron Ore and GM Corporate Strategy for ArcelorMittal, the world’s largest steel producer. He has also worked for Hatch (director of advisory services for Australasia), McKinsey & Company and Partners In Performance. Berend has a successful track record in identifying and developing early-stage mining projects and is the founder and historic CEO of Trans-Tasman Resources (a titano-magnetite project in New Zealand ASX:MKR). He has worked extensively with private equity and specialised funds to identify and develop early-stage mining projects and turn around undervalued producing mineral assets. Paul has an MBA from HEC (Paris, France), an MSc and DEA (~PhD) in chemical process design and chemistry from ENSIC (Nancy, France), a bachelor’s in applied mathematics and algebra from Harvard University and is a graduate of the Australian Institute of Company Directors.
Timothy Paul Turner - Non-executive Director
Timothy Turner is the senior partner of accounting and advisory Firm, HTG Partners. Turner heads the audit and assurance division and is responsible for the issue of audit opinions for self-managed superannuation funds through to full reporting entities. He also has more than 30 years of experience in business development, structuring and general business consultancy. Timothy has a Bachelor of Business (Accounting), is a registered company, SMSF and organization auditor, is a fellow of CPA Australia and a fellow of the Tax Institute of Australia. With over 15 years of experience on listed company boards and 30 years of experience in the Australian accounting, taxation and business fields, Turner brings a wealth of experience and knowledge in corporate compliance, governance and maneuvering.
Melissa Chapman - Chief Financial Officer and Joint Company Secretary
Melissa Chapman is the co-founder and executive director of Bellatrix Corporate Pty Ltd with over 20 years of experience in the accounting and company secretarial professions. She has significant experience including in Perth and London serving ASX/LSE listed and private companies.
Catherine Grant-Edwards - Joint Company Secretary
Catherine Grant-Edwards has over 20 years of experience in the accounting and company secretarial professions with ASX/LSE-listed and private companies. She has practiced at Ernst & Young and is a co-founder and executive director of Bellatrix Corporate.
Paul Vermeulen - General Manager Technology and Steel Markets
Paul Vermeulen is a metallurgical engineer with over 25 years of experience in iron ore mining, processing and steel production. Vermeulen established Vulcan Technologies in 2007, which provides technical consulting services to iron ore majors, iron ore juniors, engineering firms and steel makers in the field of mineral beneficiation, metallurgical test work, steel plant design, decarbonisation of steel making operations, mineral resource definition and project management. His previous operational roles include blast furnace manager at Iscor South Africa (now Arcelor-Mittal), where he managed one of the largest blast furnaces in the southern hemisphere. Subsequently, Vermeulen worked for five years at Rio Tinto Iron Ore as principal technical marketing, where he played a key role in developing high value iron ore products for steel mills, including the benchmark Rio Tinto ‘Pilbara Blend’. He holds a bachelor’s degree in metallurgical engineering with post-graduate refractory materials specialisation from the University of Pretoria.
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.
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.
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