The company also said a pre-feasibility study for Bawdwin was nearing completion and is expected to be announced in early April.

Myanmar Metals (ASX:MYL) is pleased to report a revised indicated and inferred mineral resource estimate for the Bawdwin lead-silver-zinc project in Myanmar completed by CSA Global and reported under the guidelines of the JORC Code 2012 Edition.

As highlighted in the press release:

  • 50 percent increase in indicated mineral resource estimate to 37.2 Mt at 4.3 percent lead, 114 grams per tonne (g/t) silver, 2.4 percent zinc and 0.2 percent copper (0.5 percent lead cut-off above 750m RL, 2 percent lead below 750m RL), an increase of 12.4 Mt over the prior indicated mineral resource estimate.
  • Updated global indicated and inferred mineral resource estimate of 94.2Mt at 4.2 percent lead, 107 g/t silver, 2.1 percent zinc and 0.2 percent copper.
  • High-grade “core” mineralization is largely unchanged at 45.0 Mt at 7.6 percent lead, 176 g/t silver, 3.1 percent zinc and 0.3 percent copper (both Indicated and Inferred, reported at a global 2 percent lead cut-off). Importantly, 40 percent (18.1 million tonnes) of the high-grade core is now in the Indicated category, providing increased confidence on this critical part of the deposit.
  • Tier 1 project status re-enforced – Bawdwin hosts the largest primary lead resource in the world and the 9th largest silver resource in the world.
  • Resource estimates do not include any assay results received after mid December 2018. Subsequent assays including those from Yegon Ridge and Meingtha Gap have potential to add significant mineralization.
  • PFS is nearing completion and is expected to be announced in early April.

Click here to read the full Myanmar Metals (ASX:MYL) press release.

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WHAT'S IN STORE FOR THE RESOURCE SECTOR IN 2022?

The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact this sector in the year ahead.
✓ Trends   ✓ Forecasts    ✓ Top Stocks



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an open-pit mine

As more emerging exploration companies and investors catch wind of this impressive mining jurisdiction, the Edmund Basin could become a hot spot for high-quality mineralization and commodities like precious and base metals.

Australia is often known for sunny skies and big waves across its golden coast. However, the country has always been an understated gem in mining for some of the world’s most sought-after commodities.

Silver, gold and other high-demand base metals can be found across the continent, with high concentrations in the country’s Western regions.

One of these emerging prospects is the Edmund Basin in Western Australia. Underexplored and situated in a highly attractive jurisdiction for mining, the basin presents a potential for base and precious metal mineralization and widespread discoveries for early-movers who take advantage of Australia’s next big mining exploration site.


The mining history of the Edmund Basin

Australia stands as the world’s largest producer of lithium and a global producer of gold, iron ore, lead, zinc and nickel. According to the International Trade Administration, one-third of its mines are located in Western Australia, with over 350 currently in operation country-wide. As an up-and-coming mining jurisdiction, the Edmund Basin leverages high-quality mineralization and economic potential that has been demonstrated by many other geographical prospects surrounding the landform.

In the 1960s and 1970s, basement rocks of Western Australia's Gascoyne region and the overlying sedimentary rocks of the Edmund Basin and neighbouring Collier Basin were first systematically mapped by the Geological Survey of Western Australia. This program produced 1:250,000 scale maps, explanatory notes and a number of early reports outlining the protracted tectonic history of this part of the Orogen.

Other significant mappings and exploration campaigns have outlined the basin’s half-graben architecture, which was formed by the normal reactivation of older basement faults and sutures during the latter part of the Mangaroon Orogeny. According to the most recent profiling programs, the Edmund Basin and the Collier Basin have geological structures and rock formation styles that have been divided into six informal depositional packages, each defined by basal unconformities or major marine flooding surfaces.

Despite extensive mapping and geological surveying, the Edmund Basin remains underexplored and ready for discovery.

Mineral resources and major players in the Edmund Basin

The Edmund Basin contains a wide range of mineral occurrences — including supergene manganese, lead, gold and phosphate — many of which have been associated with major crustal-scale faults.

One of the most notable prospects in the region is Western Australia's largest strata-bound lead-gold-copper-silver deposit, the Abra base metals project. Owned by the major Australian mining player Galena Mining (ASX:G1A), the company’s flagship project is located in the Gascoyne region of the country. Leveraging the low-risk, Tier 1 jurisdiction status of the area, the celebrated Abra base metals project presents promising discovery potential.

Current reports estimate that Abra carries JORC mineral resource estimates of 16.7 million tonnes (Mt) at 8.5 percent lead and 24 grams per tonne (g/t) silver in the Indicated category and Inferred estimates at 24.4 Mt at 6.5 percent lead and 14 g/t silver.

Another player taking advantage of the Edmund Basin’s underexplored history and potential mineral resources is Todd River Resources (ASX:TRT). The Australia-based resource company’s Pingandy base metal project covers 895 square kilometres within the Edmund Basin. The company has received one licence and applied for three more. As an emerging mining company, Todd River is focused on outcropping, sub-cropping and continued exploration efforts to uncover the full extent of what the Edmund Basin has to offer.

Changing tides for Edmund Basin exploration

The uniquely varied geological and structural make-up of Edmund and the adjacent Collier Basin has posed some challenges in discovery and exploration in the past. Reactivated basement structures, basin inversion by reverse transpression and deformations all point to interesting mineralized profiles, but without the tools to explore these characteristics more extensively, the packages of the Edmund Basin remain relevantly untouched.

Luckily, advancements in mining technology, surveying and mapping have led to significant strides in discovery, development and exploration capabilities. Research and technology companies like the Australian Centre for Field Robotics have introduced advanced gradiometer technology, robotics, 3D imaging and automated drilling, which can be used to get to the core of underexplored mining prospects like the Edmund Basin. With mining companies and technology giants collaborating, the sky’s the limit for highly prospective regions like Western Australia and assets like the Abra base metals project.

As more emerging exploration companies and investors catch wind of this impressive mining jurisdiction, Edmund Basin could become a hot spot for high-quality mineralization and commodities like precious and base metals. Investors should look to first-movers like Galena Mining, which is already making strides to advance its positioning in Western Australia with its secondary Jillawarra manganese and gold properties, to see why Edmund Basin presents exploration opportunities unique to the Gold Coast.

Takeaway

The Edmund Basin in Western Australia sits amongst some of the world’s most abundant base and precious metal prospects and operating mines but remains underexplored. First-movers like Galena Mining and Todd River Resources demonstrate the early-mover advantage in exploring such a highly prospective region. With advancements in mining technology and good mapping and geological research already established in the area, investors and exploration companies could see very positive mining and exploration opportunities across the Edmund Basin.

This INNspired article is sponsored by Galena Mining (ASX:G1A). This INNspired article provides information that was sourced by the Investing News Network (INN) and approved by Galena Mining in order to help investors learn more about the company. Galena Mining 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 Galena Mining and seek advice from a qualified investment advisor.

G1A:AU

Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha. Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local …

Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha.

Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local people to connect with our busines.

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Galena Mining CEO Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program. 


After successfully completing the fully funded 2020 Abra drilling program, Galena Mining (ASX:G1A) CEO and Managing Director Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program.

“The program was successful in terms of infill drilling,” Molyneux said. “We can say that 75 percent of the 57 holes either met or exceeded expectations compared to the previous resource model. I think that’s pretty positive. In terms of targeting metal-rich zones, we had two zones where we found extremely good cumulative grade and thickness of lead-silver.”

The Abra base metals project is a globally significant lead-silver project located in the Gascoyne region of Western Australia. It is fully permitted and construction work has already begun.

“We are 15 months away from the first production. Once we’re producing at a steady state, we have a projection to make AU$114 million a year,” Molyneux said. “And when a company has already eliminated the funding risks, it’s an exciting time for investors to join the story.”

Watch the full interview with Galena Mining CEO and Managing Director Alexander Molyneux above.


This interview is sponsored by Galena Mining (ASX:G1A). This interview provides information which was sourced by the Investing News Network (INN) and approved by Galena Mining in order to help investors learn more about the company. Galena Mining is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

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 Galena Mining and seek advice from a qualified investment advisor.

Rio Tinto is progressing an innovative new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions. Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to metallic …

Rio Tinto is progressing an innovative new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions.

Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to metallic iron during the steelmaking process. The patent-pending process, one of a number of avenues the company is pursuing to try to lower emissions in the steel value chain, is now being further tested in a small-scale pilot plant.

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Galena Mining Ltd. (ASX: G1A) announces achievement of the key objectives from the 2020 Abra Drilling Program and has subsequently completed an updated JORC Code 2012 Mineral Resource estimate for the Abra Base Metals Project located in the Gascoyne region of Western Australia.

Galena Mining Ltd. (“Galena” or the “Company”) (ASX:G1A) announces achievement of the key objectives from the 2020 Abra Drilling Program and has subsequently completed an updated JORC Code 2012 Mineral Resource estimate (“April 2021 Resource”) for the Abra Base Metals Project (“Abra” or the “Project”) located in the Gascoyne region of Western Australia. The April 2021 Resource has been independently prepared by Optiro Pty Ltd (“Optiro”).

Managing Director, Alex Molyneux commented, “The objectives associated with the 2020 Abra Drilling Program were successfully completed. The Project now has over 100 kilometres of drilling in its database, and the geological confidence and understanding of the deposit continues to improve. Almost all of the new holes were drilled within the previous Mineral Resource envelope and over 75% of those holes achieved expected or better results. This Mineral Resource update will now feed into an optimised mine plan, and mine development will allow for underground drilling to continue Resource development, particularly the conversion of significant Inferred Mineral Resources associated with the Core Zone
mineralisation, which remains open in several directions and also hosts the interpreted copper-gold zone.”


Table 1 (below) states the Abra April 2021 Resource at a 5.0% lead cut-off grade.

2020 ABRA DRILLING PROGRAM AND OBJECTIVES

The completed 2020 Abra Drilling program included 57 drill-holes totalling 24,834 cumulative linear meters and was designed to achieve three specific objectives. These objectives were mainly focussed on the original Mineral Resource estimate and potential grade and continuity risk
of certain areas within that estimate, and they were:

(i) Lead-silver orebody infill drilling – Some infill drilling that had previously been planned to take place from underground once the decline was in place was pulled forward into the 2020 Abra Drilling Program. This aimed to further tighten the drill-hole spacing over the first four years of proposed production to 20 by 20 metres and up to 30 by 30 metres or better, compared with a more variable drilling density of up to 40 by 40 metres and up to 60 by 60 metres in that area previously.

(ii) Drilling into selected lead-silver ‘metal rich’ zones – Some drill-holes successfully targeted selected areas within the Abra lead-silver mineralisation where higher concentrations of metal (in both grade and thickness) were projected from previous drilling campaigns, in particular drill-hole AB147, which became the best high-grade lead-silver drill-hole ever at Abra, and the follow-up drill-holes that were added to the program in its vicinity (see Galena ASX announcements of 19 October 2020, 18 November 2020, 22 January 2021 and 24 February 2021).

(iii) Gold-copper exploration – Some of the drilling, in particular drill-hole AB195 (see Galena ASX announcement of 22 February 2021) successfully targeted the newly interpreted gold and copper drilling targets to the south and south east of the leadsilver mineralisation and at depth (see Galena ASX announcement of 29 June 2020).

The first two of these objectives enable the Company to optimise mine planning, which is now underway.

MINERAL RESOURCES

Geological model

Abra is located in the Gascoyne region of Western Australia within clastic and carbonate sediments of the Proterozoic Edmund Group. Abra is a base metals replacement-style deposit, where the primary economic metal is lead. Silver, copper, zinc and gold are also present within
the established lead mineralised zones but are of lower tenor.

Abra can be divided into two main parts, the upper “Apron Zone” and lower “Core Zone”.

The Apron Zone comprises stratiform massive and disseminated lead sulphide (galena), with minor copper sulphide (chalcopyrite) and zinc sulphide (sphalerite) mineralisation within the lower conglomerate unit (KCLC) of the Edmund Basin Kiangi Creek Formation and the Upper
Carbonate Unit (UID) of the Irregully Formation. The Apron Zone is characterised by flat-lying alteration zones containing jaspilite (Red Zone), barite (Barite Zone), silica-sericite (Micrite Zone), siderite and dolomite (Carbonate Zone), and haematite and magnetite (Black Zone). Distinct stratiform alteration domains can be defined within the Apron Zone and have assisted in the definition of the distribution of the lead mineralisation and construction of the lead mineralisation lodes. The Apron Zone extends for over 1,200 metres along strike and 750 metres down dip, dipping gently south.

For the full news release, click here.

Learn more about Galena Mining

G1A:AU
physical coin representing bitcoin

A Canadian fund provider is debuting a version of its popular bitcoin ETF in Australia. Is now the best time for this launch?

Australian investors are getting a new way to invest in the volatile bitcoin space thanks to a deal between an asset management company and a Canadian fund provider.

On May 12, Canadian fund maker Purpose Investments launched a version of its bitcoin exchange-traded fund (ETF) in the Australian market by way of a partnership with Cosmos Asset Management, which is owned in part by the Australian division of Mawson Infrastructure Group (NASDAQ:MIGI).

The fund, called the Cosmos-Purpose Bitcoin Access ETF (CXA:CBTC), is listed on the Cboe Australia exchange, and holds units of the Toronto-based Purpose Bitcoin ETF (TSX:BTCC).


“We have brought together a team of global experts to offer Australian investors access to a truly high-quality product,” Dan Annan, Cosmos Asset Management CEO, said in a statement to investors.

ETF maker pursues rising international interest in cryptocurrencies

In an interview with the Investing News Network (INN), Vlad Tasevski, chief operating officer and head of product at Purpose Investments, said the firm has been actively pursuing ways to offer its crypto funds internationally.

The executive said there has been widespread interest in BTCC since its launch back in February of last year.

As the firm began evaluating how to approach this demand, the company considered setting up shop in the Australian market, Tasevski said. However, eventually the Canadian fund provider went with the partnership route.

Tasevski called Australia “the next logical jurisdiction" for the firm as it expands with its crypto funds.

When asked what makes Australia so attractive for the expansion of BTCC, the executive said it has a similar market structure to Canada, and credited securities regulators in the nation for being more comfortable with cryptocurrency listings than other jurisdictions.

Purpose has strong long-term outlook for digital assets

Although crypto assets are facing a serious ongoing downturn in value that has created significant losses, Tasevski told INN that Purpose Investments is undeterred in its long-term crypto outlook.

“The amount of capital and the amount of people involved in the space has never been higher,” Tasevski said.

The executive said he views his company's offerings as very flexible for investors. “We'll be here for (investors) to actually give them the ability to very easily access it whenever they feel it is appropriate for them,” he said.

Tasevski added that he views the current downturn for bitcoin as “one of the best entry opportunities in the last year and a half.”

​As bitcoin struggles, ETF firm celebrates structural victory

Purpose Investments has suggested to investors that accessing the bitcoin market through its funds is a safer route than going it alone, especially given the current period of remarkable losses.

According to Tasevski, the firm's products offer liquidity to investors and provide a measured approach for people who want exposure in this segment.

“We have been very clear that this is a volatile asset class,” he told INN. “And investors should kind of understand the level of volatility that they will be taking on.”

The investment executive said the infrastructure security provided by the rules ETFs must follow has been a boon as the crypto space faces major volatility.

Even so, BTCC has been rocked in 2022 based on the performance of bitcoin. Over a year-to-date period, the fund had gone down in value by over 35 percent as of the closing bell in Canada on May 11. In the past month alone, BTCC has dropped in value by over 20 percent.

Som Seif, founder and CEO of Purpose Investments, recently said crypto is a “core component” for the firm “when solving problems for (its) customers.”

​Investor takeaway

Digital assets have never been more easily available as tools for all types of investors.

While many experts remain confident in the long-term outlook for bitcoin and other cryptocurrencies, the considerable volatility prevailing in the market can make the space difficult for newcomers to stomach.

So far in 2022, bitcoin losses have highlighted the lack of stability in digital coins — but of course, as some have argued, these big moves can also provide entry points and opportunities for savvy investors.

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

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: 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.

European Lithium Executive Chairman Tony Sage

European Lithium Executive Chairman Tony Sage said, “There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe youtu.be


European Lithium (ASX:EUR,FWB:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg project in Austria, a country with a rich mining history dating back to WWII that maintains its infrastructure.

Wolfsburg continues that tradition, positioned only 45 kilometres from the city that hosts the largest Samsung battery factory.

"It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage," Sage said. "This mine was built back in the '80s by the Austrian government. So all the work has been done. If we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the licence is in perpetuity.


“We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1,500 tonnes, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tonnes of the material through the pilot plant, which gave us the results that we were looking for in that it's high-grade product.”

Sage also discussed European Lithium’s goals with the project. “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

Sage told the Investing News Network that the government is supportive of its endeavours. “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”

The mine itself is underground. “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the orebody and then take the ore out," Sage said.

“We completed a prefeasibility study in 2018. The cost structure then was about US$7,500 per tonne to produce the hydroxide. Right now, the hydroxide price is around US$69,000 a tonne — that’s a massive profit margin that we don’t see as sustainable long term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone.”

Watch the full interview of European Lithium Executive Chairman Tony Sage above.

Disclaimer: This interview is sponsored by European Lithium (ASX:EUR,FWB:PF8). This interview provides information that was sourced by the Investing News Network (INN) and approved by European Lithium in order to help investors learn more about the company. European Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

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 European Lithium and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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