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RR1:AU
Rights Issue and Shortfall
RareX Commences Scoping Study on Cummins Range Critical Metals Project, WA
October 14, 2021
Recent positive developments with resource drilling prompt expanded development scope
RareX Limited (ASX: REE; RareX or the Company) is pleased to advise that it has commenced a Scoping Study to evaluate the commercial development potential of its flagship 100%-owned Cummins Range Critical Metals Project (the Project or Cummins Range) in Western Australia's Kimberley region.
HIGHLIGHTS
- Scoping Study now in full swing with key consultants appointed
- Scoping Study being led by RareX's General Manager of Projects, James Durrant
- The aim is to test the financial sensitivity and scale of a proposed on-site processing facility
- Key project expansion opportunities to be incorporated, following recent drilling success
- RareX targeting Q1, 2022 for release of the Scoping Study
The Project has recently seen a number of exciting developments in resource drilling, with deeper diamond drilling significantly expanding the mineralisation at depth and along key geological structures1. Importantly, this drilling has confirmed that significant massive monazite crystals are present in the fresh rock, demonstrating the enormous opportunity to expand the scale of the Project.
This improvement in the geological and resource understanding, coupled with the appointment of General Manager of Projects, Mr James Durrant2, has led to RareX reviewing the scope and timing of the Scoping Study to take advantage of the current Resource, improve pit optimisation and advance metallurgical understanding across the ore domains. The recently updated Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 is comprised of an Indicated Resource of 11.1 million tonnes at 1.34% TREO + 0.17% Nb2O5 and an Inferred Resource of 7.7 at 0.88% TREO+ 0.11% Nb2O5 (0.5% TREO cut-off)3.
RareX is targeting Q1 2022 to release the Scoping Study giving the time required to continue to develop the Resource and integrate this with metallurgy and processing design.
REE:AU
29 September 2022
Eclipse Commences Environmental And Social Studies For IVITTUUT Mining Licence Application
Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) is pleased to announce it has engaged a leading international consultancy group based in Europe to commence environmental and social studies for its multi- commodity Ivittuut project in Greenland.
Highlights
- Eclipse has engaged leading European consultancy group to assist with Environmental and Social Impact Assessments (EIA and SIA) for its Ivittuut Project, Greenland
- Group will assist with project description, collection of baseline data, stakeholder mapping, public consultation and other EIA and SIA-related activities
- Studies will provide guidance on how best to move forward with the development of Ivittuut.
- EIA and SIA required as part of Eclipse’s mining licence application for Ivittuut
- Eclipse has now commenced its 2022 field season at Ivittuut with; drilling at a REE-focused drilling program at Grønnedal expected to commence in early October 2022.
The consultancy has expertise across engineering, environmental science, and architecture and provides services including studies and concept design, design development and finalisation, planning/permissions, construction management, PMC services and asset management.
The group will work with Eclipse to assist in preparing environmental and social impact assessments (EIA and SIA) required for Eclipse’s application for an exploitation (mining) licence at Ivittuut from Greenland’s Mineral Licenses and Safety Authority (MLSA). This work will include data collection, mapping and public consultation for environmental and social studies.
Eclipse Executive Chairman Carl Popal said work to be completed by the consultancy would be important in progressing the Company’s development of Ivittuut.
“Overall, results of this work will put Eclipse in a better position with greater understanding of potential impacts on these aspects so that we can make decisions on Ivittuut’s development,” he said.
“In Greenland, all projects need to complete an EIA and SIA as part of any mining licence application so once this work is complete we will have a better understanding of what’s needed to move forward at Ivittuut.”
Pursuant to the Greenlandic Mineral Resources Act no. 7 of 7 December 2009 on mineral resources and activities of significance for these (the Mineral Resources Act), and later amendments, mineral resources companies must prepare a SIA and EIA in connection with developing mineral projects.
The estimated timeframe for the completion and submission of these reports is usually two to three years. Eclipse expects that this timeframe will be reduced due to existing documents and reports held by the Company, which will contribute to form part of the scoping phase for the Social Impact Assessment undertaken by Eclipse.
Eclipse recently received approval from the MLSA to commence its 2022 field season at Ivittuut, which will include a planned drill programme at the Grønnedal REE prospect. Drilling at Grønnedal is expected to commence in early October 2022.
Click here for the full ASX Release
This article includes content from Eclipse 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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02 September 2022
Eclipse Completes $2 Million Placement
Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) is pleased to announce it has received firm commitments from sophisticated investors to raise $2 million before costs via a placement (Placement) of 100 million shares at an issue price of $0.02 per share (Placement Shares).
Highlights
- Completion of an oversubscribed Placement to raise $2 million at a Placement price of $0.02 per share supported by a combination of existing and new investors.
- Placement proceeds will be applied to upcoming field activities as the Company prepares to mobilise contractors to begin a drilling program at the Grønnedal Rare Earth Elements (REE) prospect.
- Social and Environmental Impact assessments underway in anticipation of future work programs following the 2022 exploration drilling program.
Subscribers to the Placement will be offered one (1) free attaching option exercisable at $0.05 expiring 17 September 2024 (Placement Options) for every one subscribed Placement Share. The Company will seek quotation of the Placement Options, being a total of 100 million options.
Allotment of the Placement Shares is expected to occur on or around 2 September 2022. The funds raised from the Placement will be used primarily to fund up-coming drilling campaigns at the at the Grønnedal prospect in Greenland following approval by Greenland’s Minerals Licenses and Safety Authority (MRSA) of the Company’s 2022 proposal to conduct field activities.
The Placement was managed by Ignite Equity Pty Ltd (Ignite). Ignite is a boutique corporate advisory firm specialising in funding and acting as corner investor for small-cap ASX listed Companies.
Greg Lowe, investor and Director of Ignite said, “We are thrilled to back Carl and his team on their Maiden drilling campaign for rare earth elements in Greenland. There is a huge supply/demand imbalance for these highly sought-after minerals.”
Executive Chairman Carl Popal said “We’re delighted to work with Greg and the Ignite team on this raising as preparations for the upcoming drilling at the Grønnedal prospect enter the final stages. We look forward to providing updates in the coming weeks as this maiden program progresses.”
A total of 100,000,000 Placement Shares will be issued pursuant to the Company’s existing Listing Rule 7.1A placement capacity. In addition, the 100 million Placement and 7.5 million Broker Options will be issued pursuant to Listing Rule 7.1.
Click here for the full ASX Release
This article includes content from Eclipse 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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27 June 2022
Drilling underway at Tanami Heavy Rare Earth Project
~35,000m drilling program set to unlock district-scale rare earths and gold potential
PVW Resources (‘PVW’, “the Company”) is pleased to advise that the Company’s maiden drilling program has commenced at the 100%-owned Tanami Heavy Rare Earth and Gold Project in the Tanami region of the Northern Territory.
Highlights
- Maiden drilling program has commenced at the Tanami Heavy Rare Earth Project in WA, expected to comprise ~10,000m of Reverse Circulation (RC) and ~25,000m of air-core (AC) drilling.
- Initial focus of RC drilling is at the Castella (previously named Killi Killi East) and Watts Rise prospects, with the aim of extending areas of known Heavy Rare Earth Element (HREE) and gold mineralisation.
- Potential for extensive hydrothermal unconformity-related rare earth mineralisation identified along the 18km long Watts-Castella trend.
- Extensive target area with known REE and gold mineralisation and multiple discovery opportunities.
- Air-core drilling to commence in September targeting strike extensions at the Serpa and Nesa prospects.
- Program expected to continue through until approximately October/November 2022, providing strong news flow for PVW over the coming months.
The drilling program is expected to comprise approximately 10,000m of Reverse Circulation (RC) drilling and 25,000m of air-core (AC) drilling, with a primary focus on extending areas of known Heavy Rare Earth (HRE) mineralisation.
RC drilling is now underway at the Castella prospect (previously named Killi Killi East), where rock chip sampling undertaken by PVW Resources in 2021 returned high-grade results of up to 12.45% Total Rare Earth Oxides (TREO).
Following the completion of the Castella program, the RC rig will then move to the Watts Rise prospect, located 12km north-west of Castella, where rock chip results of up to 9.26% TREO have been returned. The RC program will be followed by AC drilling, which is expected to commence in September, targeting strike extensions at the Serpa and Nesa prospects.
PVW Resources considers the entire 18km of unconformity that extends between Nesa in the north-west and Castella in the south-east to have a favourable geological setting for further HRE discoveries, with this area to be the core focus of ongoing drilling and exploration programs.
Executive Director of PVW Resources, Mr. George Bauk, commented: “We are absolutely delighted to have drilling underway in the Tanami, providing the first real test of the string of high-priority targets generated by our 2021 field program and historical data analysis.
“The Tanami Project has all the right ingredients to deliver a significant rare earths discovery – with the right stratigraphy and structures and with known occurrences of heavy rare earth mineralisation.
“The initial focus of the drilling will be at the Castella and Watts Rise prospects, where rock chip results have already confirmed high-grade HRE mineralisation, before moving on to test other key targets along the 18km prospective corridor that extends between Nesa and Castella.
“We expect this drilling to continue until well into the December 2022 Quarter, providing shareholders with a steady stream of news flow over the remainder of the year.”
Figure 2: Drilling locations
Click here for the full ASX Release
This article includes content from [Company Name][ticker symbol], 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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18 March 2022
Tanami Heavy Rare Earth Project – Poised for Success
PVW Resources Limited (PVW or the Company) has released their most current corporate presentation.
Click here for the full ASX Release
This article includes content from PVW Resources, 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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10 February 2022
Kalgoorlie – King of The West Phase 1 Aircore Drilling Commences
PVW Resources Limited (PVW or the Company) has commenced drilling at the King of The West project. The main auger anomaly is targeted based on the +50ppb Au auger results and the following geological features adding merit to the drill target:
- locationalongstrikefromoperatingmines,themainanomalyis8kmsoutheastfrommineralisationattheGoldenCitiesoperations:Havana,FederalandJakarta openpits.
- location over a major structural feature, parallel to the hinge-line which defines the Scotia - Kanowna Dome and extends northwest to Golden Cities and southeast to Kanowna Belle.
- location over late structures with the same strike as shears and faults hosting the Golden Cities mineralisation, controlled by northeast dipping shears within the hornblende biotite granodiorite.
Highlights:
- The main King of The West auger anomaly, a+2.0kmx1.2kmwide +50ppb Au zone which remains open to the south, is being tested with Aircore drilling.
- Phase1 Air core drilling will target the main +2.0 km x 1.2km anomalous zone with 100m spaced holes on 400m spaced lines.
- Phase2 Air core (proposed for mid-2022) will be prioritised to infill Phase 1 drilling and target other anomalous zones within the current auger coverage. Other targets will be prioritised as required along strike to the northwest and to the southeast within the Scotia – Kanowna Dome hinge zone, or where structure and host rocks are favourable.
The drilling will test for bedrock and paleochannel mineralisation on a 400 x 100m grid, with vertical Aircore drill holes. It is anticipated holes will terminate in fresh bedrock at a depth of 60-90m. Previous drilling has intersected paleochannel clays in some areas, hence the decision for vertical drilling to assist in penetration through the clays. Given the wide drill hole spacing and the transported cover follow up drilling proposed for later in 2022 will target a suitable tenor of Au anomalism based on results from Phase 1 Aircore drilling.
The auger anomaly and anomalous intersections in exploration drilling, provide PVW with multiple targets between King of The West and Norton Gold Fields operations at Golden Cities.
Click here for the full ASX Release
This article includes content from PVW Resources, 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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01 February 2022
Metallurgical Samples Continue To Highlight Significant Heavy Rare Earth Outcrops With Up To 8.43% Treo
Tanami Project (100% ownership), Western Australia
PVW Resources (‘PVW’, “the Company”) is pleased to provide an update on the metallurgical testwork and upcoming results due at the Tanami Rare Earth Project.
Highlights:
- Five metallurgical samples, each 20kg, demonstrate strong surface mineralisation with up to 8.43% TREO.
- Samples taken from three different areas to test potential variability. Samples have been taken up to 18km apart, from Watts Rise to Killi Killi East 2
- Average HREO percentage of 80% including an average of 2,990ppm dysprosium oxide and up to 5,795ppm dysprosium oxide.
During the November field program, five 20kg samples were collected for metallurgical testwork to be undertaken by metallurgical consultants, IMO. The samples were collected along the 18km corridor and included one sample from Watts Rise and two from Killi Killi East 1 and two from Killi Killi East 2. This was to ensure spatial variability was considered for the metallurgical sighter testwork. This month IMO reported the assay results of the five metallurgical samples and work has commenced on the ore sorting of these samples. As with previously reported rock chip sampling, all samples are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.
Click here for the full ASX Release
This article includes content from PVW Resources, 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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