Tungsten Mining to Buy Hatches Creek for AU$8.68 Million

Australia-based Tungsten Mining has struck a deal with GWR Group to acquire the Hatches Creek tungsten project in Australia’s Northern Territory.

Australia-based Tungsten Mining (ASX:TGN) has struck a deal with GWR Group (ASX:GWR) to acquire the Hatches Creek tungsten project in Australia’s Northern Territory.

The AU$8.68-million deal will bolster Tungsten Mining’s inventory and add valuable resources to the company’s portfolio.

Hatches Creek is comprised of two granted exploration licenses, with a combined total area of 31.4 km2. The project is situated in the historic Hatches Creek tungsten mining center, where 2,840 tonnes of tungsten were recovered between 1915 and 1957.

In 2016 and 2017, GWR completed a reverse circulation drilling program at Hatches, which confirmed that there were multiple high-grade polymetallic tungsten targets.

“Tungsten Mining has a stated objective of becoming a globally significant player in the tungsten industry,” Craig Ferrier, Tungsten Mining’s CEO, said to the press.

“This acquisition together with the recent acquisition of the Watershed Project in Queensland and our Mt Mulgine development in Western Australia provide an exciting portfolio of tungsten assets to deliver our strategic objective.”

This most recent acquisition will be added to Tungsten Mining’s ever-growing portfolio. In early August, the critical metals miner purchased the Watershed tungsten project, also located in Australia, for AU$15 million.

In addition to the two latest deals, Tungsten Mining has three advanced tungsten projects in Australia, the Mt Mulgine project in the Murchison region, the Big Hill project in the Pilbara region and the Kilba project in the Ashburton region of Western Australia.

GWR will retain a small 9.73-percent stake in the Hatches project. The diversified metals explorer plans to use the proceeds from the Hatches deal to further advance the company’s Wiluna West gold project.

Tungsten Mining shares were up 5 percent on Wednesday (September 5), trading at AU$0.525.

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.

Featured
Global News

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



read more Show less

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.

read more Show less

Thor Mining has completed a first-stage exploration program at the Samarkand tungsten deposit, located within the Bonya project

Diversified explorer Thor Mining (ASX:THR,LSE:THR) has announced the completion of its first stage exploration program of the Samarkand tungsten deposit located within the Bonya project in the Northern Territory of Australia.

Thor acquired Bonya in mid-2018. Samarkand is one of 13 tungsten deposits at the Bonya project.


The exploration program targeting Samarkand resulted in the discovery of an extensive tungsten mineralization, which included several high-grade zones.

The Bonya tenement, which is also home to a copper and vanadium deposit, is a joint venture between project operator Thor, which owns 40 percent, and Arafura Resources (ASX:ARU), owner of the remaining 60 percent.

“We now have confirmed tangible evidence of extensive surface outcropping tungsten mineralization at Bonya, including mineralization extending in excess of 500 meters of strike at Samarkand,” Mick Billing, Thor’s executive chairman said in the press release.

Bonya is located within close proximity to Thor’s solely-owned Molyhil tungsten project, a site that also hosts a molybdenum deposit.

“Samarkand is just one of what we believe will be series of satellite tungsten and copper deposits within economic trucking distance of Molyhil, thus making the case for Molyhil development even more compelling,” added Billing.

In late January, Thor released its Q4 2018 operations update, which also included overviews of the company’s US-based project Pilot Mountain, as well as the Kapunda copper project located in south Australia.

In the quarterly report, Thor announced a maiden resource estimate for the Bonya copper deposit of 230,000 tonnes, with a 2.0 percent grading; add to this the tungsten mineralization and Bonya is an attractive project for the diversified explorer.

“These initial results demonstrate proof of surface outcropping tungsten mineralization extending in excess of 500 meters strike length at the Samarkand deposit,” Billing said.

He continued: “Current indications are that Bonya tungsten mineralization is coarse grained and may be amenable to low cost pre-concentration by x-ray ore sorting and treatment at the Molyhil processing plant.”

An independent geologist has been brought in to conduct an assessment of the vanadium deposits.

Thor will work to attain regulatory and traditional owner heritage clearance, while an initial drilling program at Bonya is expected to commence during the March 2019 quarter.

Shares of Thor Mining sat flat on Monday (February 4), trading at AU$0.025.

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.

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.

read more Show less
Drilling Commences At The Poona Project
eMetals Limited

The Directors of eMetals Limited (ASX:EMT)(eMetals)(Company) are pleased to announce the commencement of drilling at the Poona Project which hosts the Mughal nickel prospect and the Raj tantalum prospect.


HIGHLIGHTS

  • Drilling has commenced at the Poona Project which hosts the Mughal Nickel Prospect and the Raj Tantalum Prospect.
  • A total of 1,400m of drilling is initially planned at the Mughal and Raj Prospects.
  • Drilling at Mughal will test Ni-Cu- PGE geochemical anomalies coincident with discrete Moving Loop EM conductors located along the northern contact of the prospective stratigraphy.
  • Soil sampling at the Mughal Nickel Prospect previously returned significant results of up to 0.15% Ni, 162ppm Cu, 145ppm Co and 68ppb PGE's approximately 5 kilometres west of (and in the same ultramafic sequence as) historical exploration intercepts of 8m @ 0.72% Ni, 0.13% Co and 26ppb PGE's from 11m and 8m @ 1.0% Ni, 0.1% Co, 30ppb PGE's from 26m Wamex Report A69137. (Refer ASX Release 12 November 2020)
  • The Raj Tantalite Prospect returned multiple high grade tantalite bearing pegmatites over a strike length exceeding 800m with Tantalum results from samples exceeding 179 ppm Ta2O5 and three samples in excess of 0.1% Ta2O5. (Refer ASX Release 11 February 2021)

eMetals Director Mathew Walker commented: "eMetals is excited to commence the maiden drilling program on the Mughal and Raj prospects. This represents significant progress following successful sampling work programs to identify drill targets. We look forward to providing a steady flow of results as the drill program progresses."

Click here for the full ASX release.

EMT: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.

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.

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.

Top News

Global News

×