OZ Minerals’ Prominent Hill Exceeds Expectations in 2018

OZ Minerals saw copper and gold production exceed 2018 guidance at its Prominent Hill project in South Australia.

OZ Minerals (ASX:OZL) saw copper and gold production exceed 2018 guidance at its Prominent Hill project in South Australia.

In a quarterly report released Thursday (January 24), the company said Prominent Hill produced 110,111 tonnes of copper and 130,856 ounces of gold during 2018. This pushed just past respective guidance of 100,000 to 110,000 tonnes and 120,000 to 130,000 ounces.

In November 2018, OZ increased Prominent Hill’s underground ore reserve to 40 million tonnes at 1.7 percent copper equivalent, with a 50-percent increase in proved reserves, and extended the asset’s mine life to 2030.

The company plans to continue resource drill programs in 2019 to further extend Prominent Hill’s year-on-year mine life.

“2018 was a strong year all round for OZ Minerals. Operationally this marks the fourth year we have met or exceeded copper guidance at Prominent Hill. From a growth perspective, we marked several milestones towards achieving our strategy of becoming a global copper focused miner,” OZ Managing Director and CEO Andrew Cole said in a statement.

The report highlights that the company’s 2019 focus is on delivering its Carrapateena copper-gold project, also in South Australia. It is currently in “peak construction,” and is on schedule to see first concentrate production in Q4 2019.

Alongside Carrapateena, the company is looking to advance its West Musgrave joint venture project, in which OZ owns a 51-percent stake. It is currently in the prefeasibility study stage. OZ also has development projects in Brazil’s Carajas and Gurupi provinces, and is looking to expand its optimization efforts in both areas this year.

The company saw net revenue over $1.1 billion in 2018, and has a current cash balance of $505 million after investing in growth projects.

OZ Minerals’ share price was up 3.38 percent at the end of trading on the ASX on Thursday, closing the day at AU$9.47.

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

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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Aside from copper, Mazumdar also spoke about financing, which he sees as the "big squeeze" facing the resource sector right now.

Joe Mazumdar: Copper is the Commodity of the Decade, Ways to Get Exposure youtu.be

Investors often focus on the commodities of the moment, but which have potential over the next decade?

Speaking to the Investing News Network at the recent Vancouver Resource Investment Conference (VRIC), Joe Mazumdar, editor of Exploration Insights, said copper is his pick.

"Some of it's battery metal exposure, it's construction," he said. "But also on the supply side, the lack of development projects and the higher permitting risk combined with more geopolitical risk in two of the major producers, Chile and Peru. They might have issues with production into a market (where) demand might grow."

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American west logo

Supplying High-Demand Minerals to Support Global Energy Transition



Overview

There’s no denying the transition to clean energy is already happening. We’ve seen the European Union commit to lowering its carbon footprint, US President Joe Biden sign an executive order “catalyzing” the shift to a clean energy economy, and the recent IPO of LG Energy Solution — which solidified the company as South Korea’s second most valuable company.

Supplying this exponentially growing global demand for the clean energy minerals needed to produce the components required to support this transition remains a significant challenge. Since 2010, the demand for these critical minerals has increased by 50 percent, with demand for both zinc and copper expected to double between 2021-2050. And yet, the majority of these minerals are produced in China, the Democratic Republic of Congo, South Africa, Russia, and Australia. If North America and Europe wish to meet their lofty goals, stable domestic production of clean energy metals like copper, lithium, cobalt is essential.

When it comes to mining, long-term success and stable operations require both the right location and favorable social and environmental factors. Nunavut and Utah are among many tier 1 mining jurisdictions that have robust opportunities for high-value mineral production. The mineral resource industry is Nunavut’s largest private sector contributor to its economy. As a result, its government has taken a pro-mining stance to help maintain its tier 1 status. Additionally, Utah enjoys a long history of mining that dates back to 1862, with thousands of active mines scattered across the state.

American West Metals (ASX:AW1) is an Australian company that focuses on the rapidly growing clean metal sector in tier 1 mining jurisdictions within North America. The company is working to support global clean energy initiatives by developing low footprint mines that can supply minerals needed for global electrification. The company’s portfolio of projects remains focused on producing copper and zinc products in Utah and Nunavut to support increasing global demand.

American West Projects

American West Metals features an all-star management team led by experienced leaders Michael Anderson, John Prineas, and Dave O’Neill, all whom have decades of combined expertise in global mine development, mineral exploration and corporate finance. The company is building the foundation for continued success in delivering economic benefits to all stakeholders and high-multiplier returns on shareholder investment. American West Metals currently has three high-value base metal projects geared toward supplying future resource needs: West Desert, Copper Warrior and Storm and Seal.

American West Metals recently started its diamond drilling efforts at West Desert under the management of an experienced in-country logistics and exploration team. Their Copper Warrior project is located close to the Lisbon Valley Copper Mine — Utah’s second largest copper mine. Meanwhile, the Storm and Seal projects have two styles of high-grade copper and zinc mineralization within the 4,145 square kilometer land package. Permits are in place and the projects are drill-ready with two drill rigs and a 35-person exploration camp on site.

American West

Drilling at West Desert. Source: Twitter

“The drilling is planned to test the West Desert resource in areas that already have some impressive zinc, copper and silver intercepts, and to confirm our assumptions that the continuity of these zones will support a range of development scenarios. The drilling will also confirm the amenability of the shallow mineralisation to open-pit mining, further adding to the development optionality at West Desert,” said American West Metals’ Managing Director, Dave O’Neill.

Company Highlights

  • American West Metals is a critical metal focused mineral exploration and mining company that offers investors exposure to high-value projects in tier 1 mineral districts in Nunavut and Utah.
  • The company has an experienced management team with decades of expertise in developing mines, mineral exploration and corporate finance.
  • The advanced stage West Desert zinc-copper-indium deposit in Utah contains an existing resource base of over 1Mt of zinc, 120Kt of copper and 1,500t of indium.
  • The Copper Warrior project is located near the second largest copper mine in Utah, with 173 mining claims covering 14 square kilometers.
  • American West Metals’ Storm and Seal projects contain two styles of high-grade copper and zinc mineralization, have all necessary permits in place, and are ready for exploration to begin on the 4,145 square kilometre land package.

Key Projects

West Desert

American West Desert

West Desert is 100 percent owned by American West Metals and is located approximately 160 kilometers southwest of Salt Lake City in west-central Utah. The project is within the prolific Sevier Orogenic Belt, which also hosts the world class Bingham copper deposit and Tintic Mineral District.

Project Highlights:

  • NI 43-101 Results: The West Desert deposit is a massive zinc-poly metallic skarn and carbonate replacement deposit (CRD) with over 59Mt Indicated and inferred resources, with a higher grade core of 16.5 million tonnes (Mt) at 6.3 percent zinc, 0.3 percent copper, 33g/t indium for 1.03 Mt zinc, 45Kt copper and 545t indium (NI 43-101, historical and foreign resource).
  • Existing Resource Foundation: West Desert has a strong existing resource foundation. Historical metallurgical test work exhibits clean concentrates and outstanding metal recoveries. The high-grade core may support a range of low footprint development scenarios.
  • Large Indium Resource: This asset has the largest known unmined indium resource in the world and American West Metals will become the first indium producer in the United States. Indium is a critical metal to the national security and economics of the United States as it’s used in decarbonization technology, semiconductor and the electronics industries. There are unusually high levels of this mineral found in the sphalerite at West Desert, and it has only been assayed in 35 percent of samples, giving huge growth potential..
  • CRD and Porphyry Mineralisation: Additional CRD mineralisation has been intersected about 1 kilometre east of the West Desert project, including 3 meters at 3.5 percent Cu, 7.65 percent Zinc (drill hole CC-43). There are numerous other high-grade intersections around the porphyry stock, which shows geological similarities to Bingham Canyon and other large porphyries in the region.
  • Exploration and Studies underway: Mining, environmental and hydrological studies are underway, infrastructure is in place and drilling will proceed in January 2022.

Copper Warrior

Copper Warrior

The Copper Warrior project is located along the Lisbon Valley Fault in the prolific Paradox Basin of southeast Utah and just 15 kilometers from the second largest copper mine in Utah — Lisbon Copper Mine. There is direct road access to the processing plant and the mine infrastructure. The project spans an area of 14 square kilometers and has 173 claims. This region has exceptional deposits of copper, vanadium, uranium and potash.

Project Highlights:

  • Stable Ownership: American West Metals has signed an option agreement to acquire all of Copper Warrior’s assets from Bronco Creek Exploration, a subsidiary of EMX Royalty Corp (TSXV:EMX).
  • Turnkey Project: This project is a turnkey asset allowing fast-tracked activities because of the well understood geology and simple processing and mining techniques
  • Ongoing Exploration: Outcroppings containing large volumes of copper, vein style and disseminated copper oxide and sulfides have been mapped across the Copper Warrior property. Sulfide and oxide mineralization in this region are typically amenable to easy low-cost leach processing. Low risk and low cost with Induced Polarization (IP) surveys and reverse circulation (RC) drilling set to go in the spring of 2022.

Storm and Seal

Storm and Seal

Storm and Seal, also known as the Nunavut projects, are in the lower Arctic Circle, close to the coast of Aston Bay on Somerset Island. This is northern Nunavut in the Polaris mineral district, with many exploration and mining projects close to the regional logistics hub Resolute Bay. The Storm and Seal project area extends 120 kilometers south from the north coast of Somerset Island and encompasses 4,145 square kilometers.

Project Highlights:

  • Signed Lease Agreement: The Nunavut projects are owned by Aston Bay Holdings (TSXV: BAY). American West Metals signed an agreement to earn 80 percent of the Storm and Seal project interest from Aston Bay. American West Metals has control of this very accessible project and its turnkey exploration projects.
  • High-Grade Copper: The Storm project is a structurally hosted high-grade copper discovery that has multiple, dense high-grade copper intersections across 15 square kilometers. Historical drill samples include 19m at 3.41percent copper from surface (ST97-02), 110m at 2.45 percent copper from surface (ST97-08), 56.3m at 3.07 percent copper from 12.2m (ST99-19) and 15m at 3.88 percent copper from 72.4m (ST99-47). There is also an unexplored sediment hosted copper system with many untested surface gossans that will add to the existing exploration endeavors.
American West

Drill core from the Storm Copper Project. Source: Twitter

  • Existing High-Grade Zinc-Silver Resources: Seal is adjacent to Storm and has an existing resource of 1Mt @ 10.24 percent zinc, 46.5 g/t silver for 103Kt of zinc and 1.5Moz silver (NI 43-101, historical and foreign resource). The deposit is open at depth and along strike. Historical intersections include;
    • 14.4m at 10.58 percent zinc, 28.7 g/t silver from 51.8m
    • 16m at 6.62 percent zinc,27.1 g/t silver from 76.6m
    • 22.3m at 23 percent zinc,5.1 g/t silver from 101.5m
    • 2.4m at 15.13 percent zinc, 91.9 g/t silver from 133.5m
    • Extensive zinc soil anomalies within the prospective stratigraphy render more drill ready targets.

Exploration-Ready: The Nunavut property and existing camp has easy access and is primed for exploration. All permits are in place and the property is drill ready with 2 drill rigs and a 35 person exploration camp on site.

Management Team

Dave O’Neill - Managing Director

Founder of American West and a major shareholder. A geologist with over 20 years experience in the resources sector gained in Australia and internationally. Dave has expertise in base metals and gold exploration as well as business development gained in senior roles with Anglogold, WMC, BHP and Western Areas. He has managed remote grass roots exploration to large resource delineation and mining projects in Australia, Europe, North America and Russia. Dave has a track record of successful exploration and was a leading team member for the discovery of the Succoth (Cu), Yappsu (Ni) and Cathedrals (Ni) deposits in Western Australia. Dave holds a BSc. (Honours in Geology) from the University of Technology, Sydney and is a Member of the Australasian Institute of Mining and Metallurgy.

John Prineas - Non-executive Chairman

Founder of American West and a major shareholder. John is also the founder and Executive Chairman of St George Mining Limited (ASX: SGQ), a successful explorer and emerging nickel company in Australia. Prior to starting St George in 2010, John spent 20 years in the banking and legal sectors, including the role of Country Head Australia for Dresdner Bank AG (now Commerzbank AG) with a focus on project and acquisition finance for resources and infrastructure projects. John has worked on funding arrangements and growth strategies for a range of mining companies, from global majors to junior explorers. John holds a Bachelor of Economics and Bachelor of Laws from the University of Sydney and is a Fellow of Financial Services Institute of Australasia. John is also a director of BMG Resources Limited (ASX: BMG).

Michael Anderson - Non-executive Director

Dr Michael Anderson has extensive technical experience as well as substantial business development experience built up over a 30-year career. Michael is currently the Managing Director of Firefinch Limited (ASX: FFX) which has major gold and lithium projects in Mali, Africa. Previously, as a Director at Taurus Funds Management in Australia, he managed the fund’s investment in precious and base metals projects in a number of continents. Prior to that, Michael was the Managing Director of Exco Resources in Australia where he led the development of the White Dam Gold Mine and the advancement of resource development, feasibility studies and approvals for the Cloncurry Copper Project ahead of its sale to Xstrata. Dr Anderson holds a BSc. (1st Class Honours in Mining Geology) and a PhD in Mining Geology, both from the Royal School of Mines, Imperial College, University of London.

Rocky Pray - VP Operations

Rocky Pray has more than 30 years of engineering and project development focused on mining projects across several jurisdictions in the USA and abroad, including 12 years with Newmont Mining where he served as Project Study Director, Project Manager, and Consulting Mine Engineer. Rocky has a successful track record directing teams to safely build new mines, and expand existing mines on schedule and under budget. Rocky is a senior mining professional with expertise in pre-feasibility and feasibility studies, Federal and State permitting, environmental management mine operations, project engineering and construction. He is registered with the US Society of Mining Engineers and holds a Bachelor of Science degree (Geological Engineer) from the South Dakota School of Mines and Technology.

Related Articles Around the Web
AW1:AU
Perth, Australia - Cyprium Metals Limited is pleased to announce the Company's updated MRE for the Nifty copper deposit following completion of the successful Nifty west pit drilling program in 2021. Cyprium's previously disclosed MRE for Nifty was the maiden Nifty MRE under Cyprium's ownership. Managing Director Barry Cahill commented: "There is a significant increase in the contained copper metal tonnes in the ...
Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce the Company's updated MRE for the Nifty copper deposit following completion of the successful Nifty west pit drilling program in 2021. Cyprium's previously disclosed MRE for Nifty was the maiden Nifty MRE under Cyprium's ownership.

Managing Director Barry Cahill commented:

"There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty. Once again, this demonstrates the quality and scale of the Nifty deposit, which remains open. The updated Mineral Resource Estimate provides additional copper metal inventory for the Nifty phase 1 oxide copper project and underpins a potential open pit mine-life of greater than 20 years.

Further assay results from the Nifty east drilling programme will be announced later this month. The results of this drilling programme, which targeted the shallower oxide zone of the deposit, are expected to further extend the Nifty phase 1 oxide mine-life."

The current Nifty MRE of 95.1Mt at 1.0% copper for a total contained copper inventory of 940,200t (refer to Table 1*) is the result of the completion of the successful Nifty west pit drilling program and Nifty Copper Project Restart Study. The Nifty west drilling program consisted of 71 RC holes for a total of 18,867 metres.

The Nifty Copper Project Restart Study is focussed on the development of the first phase of the project that involves a return to heap leaching and solvent extraction electrowinning (SX-EW) to produce copper metal cathode on site. The significant inventory and increase of heap leachable oxide mineralisation confirmed by this MRE (16.1Mt at 0.9% copper for approximately 144,300t of contained copper metal) presents additional upside opportunity on project economics. The drilling programmes completed at Nifty West and East were designed primarily to confirm the mineralisation and to improve the confidence, hence classification of inferred resource, plus possible extension of mineralisation.

The May 2022 Mineral Resource Estimate maintained uniform methodology, resource depletion, grade interpolation, density algorithms, QAQC protocols and classification codes as those reported and detailed in Cyprium's ASX Release "Nifty Mineral Resource Update" dated 17 November 2021.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/KR622JP0



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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Copper hit a record high in 2021, boosting copper companies even into 2022. Here are the best copper stocks on the ASX so far this year.

The copper price hit a record high in 2021, and analysts expect prices for the red metal to remain high. This strong copper market has been a boon for ASX copper stocks.

Copper prices rallied to above US$10,700 per tonne during the second quarter of last year on higher demand as the economy began opening back up following strict COVID-19 restrictions.

Although the copper outlook is tainted by a slowing real estate sector in China, demand for electric vehicles and renewable energy is expected to boost copper use in China and globally in 2022.


Several Australian copper stocks are performing well in this copper price environment.

Here the Investing News Network looks at the best ASX copper stocks of 2022 by year-to-date share price performance. The best ASX copper stocks list below was generated on February 9, 2022, using TradingView’s stock screener, and all copper stocks listed had market caps above AU$30 million at that time.

1. Alara Resources

Year-to-date gain: 233.33 percent; current share price: AU$0.08

First on this list of best ASX copper stocks is base and precious metals explorer and developer Alara Resources (ASX:AUQ). The company has projects in the Middle East, including the Al Washi-hi Majaza copper-gold project in Oman and the Khnaiguiyah zinc-copper project in Saudi Arabia.

Alara owns a 51 percent equity interest in Al Washi-hi Majaza, where initial mining activities, including pre-stripping of waste, began in early February. Ore mining is expected to start at the asset in the June quarter, with consistent ore recovery following toward the end of the year.

2. Critical Resources

Year-to-date gain: 189.47 percent; current share price: AU$0.11

Base metals-focused Critical Resources (ASX:CRR) has properties in Oman and Australia. The company's Sohar copper project in Oman has a JORC resource of 819,000 tonnes at 3.4 percent copper, equivalent to 28,000 tonnes of copper metal, and zinc and other base metals were historically mined at its Halls Peak project in New South Wales. Aside from those assets, Critical Resources holds lithium projects in Canada.

In early February, Critical Resources reported zinc, copper, lead and silver assay results from two extensional holes completed at Halls Peak's Gibsons prospect.

3. Cannindah Resources

Year-to-date gain: 82.35 percent; current share price: AU$0.31

With a focus on copper and gold, Cannindah Resources (ASX:CAE) is reviewing strategies for its New South Wales-based Mount Cannindah project, which holds a large porphyry-style copper-molybdenum-gold mineralised system. The company is also looking to move forward with exploration at its Piccadilly gold project in Queensland.

In late January, Cannindah Resources shared results from a vertical hole in the northern part of Mount Cannindah. Results include 81 metres at 0.3 percent copper, 0.6 grams per tonne gold and 22.5 grams per tonne silver.

4. Celsius Resources

Year-to-date gain: 50 percent; current share price: AU$0.03

Exploration and development company Celsius Resources (ASX:CLA) has a portfolio of copper and gold assets located in the Philippines, Namibia and Australia.

At its Maalinao-Caigutan-Biyog copper-gold project in the Philippines, the company completed a positive scoping study in December 2021 showing a 25 year mine life, a payback period of 2.7 years and a pre-tax internal rate of return of 35 percent. Drilling is also underway at Celsius’ other Philippines property, the Sagay copper-gold project.

5. Bougainville Copper

Year-to-date gain: 29.51 percent; current share price: AU$0.395

Bougainville Copper (ASX:BOC) states that its main goal is to work with communities in Papua New Guinea and the country's government to resume copper, gold and silver mining and exploration at the Panguna mine.

Panguna has been inactive since 1989, and while it was important to the nation's economy it has also been a source of controversy. There hasn't been any news from the company so far in 2022.

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

Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.

Perth, Australia - Cyprium Metals Ltd has made considerable progress over the past year to return the iconic Nifty Copper Project to a profitable operating mine. There has been over 30kms of drilling completed at Nifty for mineral resource infill and extensions, metallurgical test-work, infrastructure sterilisation and waste characterisation. An updated JORC 2012 mineral resource estimate was issued in November 2021 ...
Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) has made considerable progress over the past year to return the iconic Nifty Copper Project to a profitable operating mine. There has been over 30kms of drilling completed at Nifty for mineral resource infill and extensions, metallurgical test-work, infrastructure sterilisation and waste characterisation.

An updated JORC 2012 mineral resource estimate was issued in November 2021 for Nifty of 732,000 tonnes contained copper at an average grade of 1.6%. A further update of the Nifty mineral resource estimate will be undertaken during the first half of 2022 which will include the results from our infill and extensional drilling programmes that were completed during 2021.

Condition assessments have been completed on the existing infrastructure at Nifty which have resulted in a decision to proceed with the refurbishment of the SX-EW plant rather than purchase a new plant, upgrade of the communications infrastructure to 4G services and commence a mine site camp upgrade.

Site surveys, baseline studies and water management plans have been completed so that the various comprehensive regulatory approval submissions can be made in accordance with our projected timelines. Site visits to demonstrate the current state of the facilities and Cyprium's plans for the restart of the project have been well received with government, traditional owners and investors.

Currently, the optimum open pit economic design for the Nifty Re-start Study is based entirely on the measured and indicated categories of the updated Nifty mineral resource, with pit wall design incorporating the geotechnical studies undertaken in 2021. The current pit envelope does not include any increases to the mineral resource from the inferred conversion, infill or extensional drilling programmes completed during 2021. The final extended open pit mine design and schedule will be incorporated into the model once the expanded mineral resource is re-estimated during the first half of 2022. Incorporation of these drill results will in fact convert some material which is currently included as waste in the pit envelope, into ore, consequently further enhancing the already robust economics of the Nifty Re-Start Study.

*To view the full Annual Report, please visit:
https://abnnewswire.net/lnk/T3Q51S96



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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American West Metals
American West Metals
American West Metals

American West Metals Limited (American West or the Company) (ASX: AW1) is pleased to announce that drill hole WD22-19 - the first exploration drill hole completed by American West - has delivered a discovery that may potentially represent a significant extension of the known mineralisation at the West Desert Project in Utah (West Desert or the Project).


  • Exploration diamond drill hole – WD22-19 – has intersected wide intervals of magnetite skarn mineralisation 250m south west of the existing resource envelope for the West Desert Deposit
  • The drill hole was designed to test a strong magnetic anomaly that has the same geophysical signature as the West Desert Deposit
  • Geological logging of WD22-19 and portable XRF results indicate broad intervals with elevated zinc, copper and silver punctuated by zones of high-grade zinc and copper
  • The geology and geochemistry of WD22-19 indicate the drill hole is on the edge of a strong mineral system
  • Results for the outstanding drill holes are pending and expected in the coming weeks

WD22-19 was designed to test a large magnetitic anomaly which is centered approximately 250m south-west of the existing West Desert Deposit. The magnetic anomaly has the same geophysical signature as the West Desert Deposit and is interpreted to be a potential faulted extension of the Deposit. The magnetic anomaly has never previously been drilled.

The drill hole has intersected multiple zones of strong and massive magnetite skarn mineralisation enriched in zinc, copper and silver.

The discovery of further mineralisation over 250m to the west of the West Desert Deposit has confirmed the outstanding growth and exploration potential across the Company’s Project tenure.

Dave O’Neill, Managing Director of American West Metals commented:

“We are extremely excited by the results of the first exploration drill hole to be completed by AW1 at West Desert.

“WD22-19 has discovered a thick sequence of magnetite skarn mineralisation over 250m south west of the known West Desert Deposit.

“The visual observations and portable XRF results indicate broad zones of zinc, copper, silver and molybdenum mineralisation, and confirms that our interpretations about the geophysical targets - including potential West Desert look alikes - are correct.

“This has huge implications for the exploration upside and potential to extend the known West Desert Deposit, with a number of large magnetic and gravity features in the pipeline for drill testing.

“As exploration continues at the West Desert Project, investors can look forward to further news flow in the coming weeks and beyond as we continue to receive assay results from the completed drilling.”



Click here for the full ASX Release

This article includes content from American West 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.
AW1:AU
Winsome Resources CEO Chris Evans

Winsome Resources CEO Chris Evans said, “Canada and the US are working feverishly to develop an internal battery materials supply chain and we think we're going to play a critical role in that.”

Winsome Resources CEO Chris Evans: Sustainable Hardrock Lithium Opportunities in Quebec youtu.be


Winsome Resources (ASX:WR1) CEO Chris Evans joined the Investing News Network to discuss the company and its Cancet lithium project in Quebec, Canada.

"We listed on the ASX on November 30, 2021," he explained. "We're lithium focused but based in Canada, and we've been pretty successful in the last six months — our share price has done well. I think I've been putting this down to the success factors which we possess as a company, including the fact that we're into lithium at a moment with high demand. Any mining company that's associated with lithium has tended to do well.

“Our assets are in Quebec, a fantastic mining jurisdiction for all sorts of reasons. Also, being listed on the ASX — Australian investors tend to like early stage plays a bit better. They've certainly woken up to the electric vehicle and lithium revolution that's occurring in the world. And it's a pleasure having the assets in Canada.”


Next, Evans got into specifics about the company's flagship project. “The Cancet project is our flagship, in the James Bay region of Quebec. All our projects are hard-rock lithium; that's digging the rocks out of the ground and concentrating the lithium in them. Then it gets converted into the final product, which is lithium carbonate or hydroxide, that then goes into electric vehicle batteries,” he explained.

“Cancet’s had about 5,500 metres of drilling done on it historically, so we know that there's a great deposit of lithium at fantastic grades. It outcrops on the surface, the lithium-containing spodumene from the pegmatite rock, where we have 3.7 percent lithium oxide over a 17 metre interval from the surface at our most successful drill hole. We just completed 2,000 metres of drilling ourselves, increasing our knowledge of the orebody that's there, and also looking for extensions to the orebody. We've got 395 claims, and our drilling and exploration is only over about 15 of the claims. So we've got a lot further to look here and a lot more to develop.”

As for supply location, and the company's relationship with the international market, Evans said, “We think it's fantastic for us, and our shareholders, that we have assets in Quebec. Roughly 50 percent of the world's hard-rock lithium comes from Australia, where it’s mined and concentrated. The problem is that final conversion into lithium carbonate or hydroxide all occurs at the moment in China ... lithium is on the critical minerals list in Canada, the US and Australia, and Canada and the US are working feverishly to develop an internal battery materials supply chain. We think we're going to play a critical role in that.”

Elaborating on the sustainability industry that drives the battery revolution, he said, “(Nearly) all power in Quebec is generated by hydroelectricity and renewable forms of electricity. That’s very important, because the mining and concentration process for lithium products traditionally produces a large carbon footprint, because it's energy intensive. The EU, from 2024, has mandated that all batteries are labeled with the carbon footprint of all the materials that are contained within them. Then, by about 2026, there's specific targets that batteries have to meet in order to be sold in the EU. If you don't have a renewable source of energy to produce your lithium products that go into those batteries, it's going to severely restrict your markets — and that's another bonus for us being in Quebec.”

Evans said that Winsome Resources’ approach is to develop a mine itself, rather than selling or partnering. “We will approach this as if we are going to be developing the Cancet project, and producing lithium ourselves, in four or so years. And I think that'll best serve our shareholders.” With regards to other ways the company could benefit investors, Evans said, “Being listed on the ASX, and having access to a lot of capital, I think there's a great opportunity for us to acquire other projects in Canada. We're about to start our summer exploration. And we're on the lookout for a new project. So I think the good news is really to come.”

Watch the full interview of Winsome Resources CEO Chris Evans above.

Disclaimer: This interview is sponsored by Winsome Resources (ASX:WR1). This interview provides information that was sourced by the Investing News Network (INN) and approved by Winsome Resources in order to help investors learn more about the company. Winsome Resources 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 Winsome Resources and seek advice from a qualified investment advisor.

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WR1:AU

Where are the silver mines in Australia? You might be surprised to learn that the country is home to one of the world’s top primary silver producers.

Mining is a big part of Australia’s history, and it continues to shape the country’s economy and position in the world today. The nation is one of the world’s top producers and exporters of resources, with coal, uranium, copper and gold being some of its best-known commodities.

Australia is also a key producer of silver — it was the world’s fifth-largest producer of the metal in 2021, tied with Russia, putting out 1,300 MT. Interestingly, most of Australia's silver is produced from silver-bearing galena, but some is also produced from copper and gold mining.

Refined silver comes mainly from the Port Pirie lead smelter and refinery in South Australia, though silver is also refined at gold refineries in Perth, Kalgoorlie and Melbourne.


But where are the silver mines in Australia, exactly? While it’s interesting to know what types of deposits the precious metal is found in, many investors want to know what companies are producing silver and where their mines are located geographically. Read on to find the answers to those questions.

Where are the silver mines in Australia?

Silver has played a role in Australia since the mid-1800s — Wheal Gawler, Australia’s first metal mine, was a silver-lead mine developed in South Australia in the 1840s. And that’s not Australia’s only early silver-mining operation — the Broken Hill deposit in New South Wales and the Mount Isa deposit in Queensland are two other early Australian silver discoveries.

Broken Hill, a lead-zinc-silver deposit, was discovered in 1883 by German immigrant Charles Rasp, and the Broken Hill Proprietary Company was born in 1885; it ultimately merged in 2001 with another mining giant, Billiton, to form BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT). BHP Billiton is no longer involved with Broken Hill, but ore is still being extracted there today. Perilya now runs the southern and northern operations.

For its part, Mount Isa was discovered in 1923 by John Campbell Miles, and like Broken Hill is still producing today. It was acquired by Glencore (LSE:GLEN) in 2013 and in addition to silver is also a producer of zinc.

These major early Australian silver discoveries are not the country’s only sources of silver. Other silver mines in Australia include Cannington, one of the world’s top primary silver producers. It’s a fly-in, fly-out mining and processing operation that is owned by South32 (ASX:S32,LSE:S32), a diversified resource company spun out from BHP Billiton in 2015. Cannington also produces lead and zinc.

Australia holds the McArthur River mine as well, which opened in 1995 and is owned by Glencore subsidiary McArthur River Mining. The mine is one of the world’s largest zinc-lead-silver mines, and is located in Australia’s Northern Territory.

Glencore’s 2021 annual report claims total silver production reached 31.519 million ounces for the year, representing a 4 percent drop from 2020. That includes 625,000 ounces from McArthur River.

The Century mine, which previously belonged to MMG (HKEX:1208), shut its doors at the end of 2015, but was a major producer of zinc (and silver) until that time. It was reopened in mid-2018 by New Century Resources (ASX:NCZ) and the company says it now has an estimated annual production capacity of 264,000 tonnes of zinc and 3 million ounces of silver.

Independence Group (ASX:IGO) also produces silver, along with copper and zinc, at its Jaguar operation in Western Australia. Gold producer Silver Lake Resources (ASX:SLR) owns some projects with silver reserves as well. As you can see, there are and have been many silver mines in Australia.

Future silver mines in Australia?

In addition to being home to a slew of large silver mines, Australia also plays host to many companies that are exploring and developing silver projects. Below are a few that have made recent progress.

Please let us know in the comments if we’ve forgotten to mention any Australia-focused silver companies. All companies listed had market caps of at least AU$5 million on May 19, 2022.

Argent Minerals (ASX:ARD) — Argent Minerals’ main asset is its 100-percent-owned Kempfield polymetallic project in New South Wales. In May 2018, the company announced an updated resource estimate for the asset — its silver equivalent contained metal now stands at an estimated 100 million silver equivalent ounces at 120 g/t silver equivalent; that’s approximately double the previous estimate.

In total the company has three projects, with all of them being in New South Wales.

Investigator Resources (ASX:IVR) — Investigator Resources is advancing silver, copper and gold deposits in South Australia. Currently its properties include the Peterlumbo/Paris silver project, the Eyre Peninsula and Stuart Shelf projects and the Northern Yorke Peninsula projects.

The total resource for Paris stands at an estimated 18.8 million tonnes at 88 g/t silver and 0.52 percent lead for 53.1 million ounces of contained silver and 97,600 tonnes of contained lead (at a cut off of 30 g/t silver). The indicated component is 12.7 million tonnes of silver (95 g/t) and represents 73 percent of the total estimated resource ounces.

Horizon Minerals (ASX:HRZ) — Horizon Minerals owns the Nimbus silver-zinc project in Western Australia. Nimbus has a high-grade silver-zinc resource estimate of 255,898 tonnes at 773 g/t silver and 13 percent zinc; the total Nimbus resource stands at 1.21 million tonnes at 52 g/t silver, 0.9 percent zinc and 0.2 g/t gold.

Silver Mines (ASX:SVL) bills itself as a leading Australian silver exploration company, and has spent a considerable amount of time acquiring Australian silver projects. Those include Malachite Resources’ (ASX:MAR) Conrad project and Kingsgate Consolidated’s (ASX:KCN) Bowdens silver project.

While the company’s main focus has been on the Webbs silver project in New South Wales, the Bowdens project represents the largest undeveloped silver project in Australia, and Silver Mines is working to get the project through the feasibility, environmental impact statement and permitting stages.

In a 2018 report, the feasibility study demonstrated an average silver production of 3.4 million tonnes per annum for the project, with 5.4 million during the first three years of operation. Estimations also included 6,900 tonnes of zinc and 5,100 tonnes of lead.

This is an updated version of an article first published by the Investing News Network in 2018.

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

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

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