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Cassini Resources extends nickel-copper sulphide mineralisation at Yarawindah Project

Cassini Resources Ltd (ASX:CZI) has received results from drilling at the Yarawindah Brook Project north east of Perth, Western Australia which has extended the nickel-copper sulphide Avena prospect.

The company has completed its first diamond drilling program, targeting multiple electromagnetic (EM) conductors identified in airborne and ground EM surveys conducted in 2018.

A total of 9 diamond holes have been completed for 1,148 metres within the same emerging nickel sulphide province as Chalice Gold Mines (ASX:CHN) recent high-grade discovery at the Julimar prospect, around 40 kilometres south of Yarawindah.

New extensions of nickel and copper mineralisation[hhmc]
Assay results have been received for drill holes YAD0004 through to YAD0006 at the Avena prospect as well as for YAD0003 at the Brassica prospect.

The Avena prospect is at the southern end of the Yarawindah Intrusion which has been the focus of historical exploration within the project.

This latest drilling campaign ha..

Cassini Resources Ltd (ASX:CZI) has received results from drilling at the Yarawindah Brook Project north east of Perth, Western Australia which has extended the nickel-copper sulphide Avena prospect.

The company has completed its first diamond drilling program, targeting multiple electromagnetic (EM) conductors identified in airborne and ground EM surveys conducted in 2018.

A total of 9 diamond holes have been completed for 1,148 metres within the same emerging nickel sulphide province as Chalice Gold Mines (ASX:CHN) recent high-grade discovery at the Julimar prospect, around 40 kilometres south of Yarawindah.

New extensions of nickel and copper mineralisation


Assay results have been received for drill holes YAD0004 through to YAD0006 at the Avena prospect as well as for YAD0003 at the Brassica prospect.

The Avena prospect is at the southern end of the Yarawindah Intrusion which has been the focus of historical exploration within the project.

This latest drilling campaign has tested new EM conductors at the Brassica Prospect, and extensions of the sulphide mineralisation defined at the Avena Prospect.

Cassini is encouraged by a massive sulphide intersection of 0.12 metres at 5.97% nickel, 0.75% copper, 0.39% cobalt and2.66g/t platinum group elements (PGE) from 84.3 metres in hole YAD0005.

Another notable intersection was returned from hole YAD0006, which intersected 5.05 metres at 0.69% nickel, 1.17% copper and 0.06% cobalt from 57.95 metres.

These intersections range from 50 metres to 72 metres below the surface, well within open-pit mining depths.

Downhole electromagnetic (DHEM) survey has identified new off-hole conductors, which are yet to be fully integrated into our geological interpretation at Avena.

Results support exploration model


At the Brassica prospect, hole YAD0003 intersected a 70-metre zone of metagabbro with thick zones of disseminated and locally semi-massive zones of barren iron sulphides (pyrrhotite) and trace Cu sulphides (chalcopyrite) thus reflecting low tenor Ni and Cu sulphide mineralisation.

The metagabbro sequence is very similar to those along strike at Brassica that returned promising intersections of 1.1 metres at 0.50% nickel, 0.10% copper and 0.08% cobalt from 92.9 metres in hole YAD0002 and 0.7 metres at 0.09% nickel, 1.46% copper and 0.02% cobalt from 71.4 metres in hole YAD0001.

The results to date at both the Avena and Brassica prospects support Cassinis exploration model that the Yarawindah Project has potential to host multiple nickel-copper magmatic sulphide deposits.

Further results expected


Results from a further three holes (YAD0007 – YAD0009) are expected shortly.

These holes targeted off-hole conductors from historical DHEM and intersected visually encouraging zones of sulphides.

Interpretation Read More – Source

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Australia

Emmerson Resources implements cost-saving measures in response to COVID-19

Emmerson Resources Limited (ASX:ERM) has implemented cost-saving measures in response to the impact of COVID-19 on operations with directors, management and staff reducing fees and salaries by up to 50%.

The pandemic has resulted in the company ceasing exploration activities at its projects in the Northern Territory and in Central West NSW, including high impact drilling planned for the Kiola project.

Emmerson managing director Rob Bills said: “We have prudently implemented cost-saving measures across our business to help weather the challenging economic conditions we currently face.”

Incentive Option Scheme[hhmc]
The company intends to issue options to employees and directors under its Incentive Option Scheme.

Directors consider that options provide an effective form of compensation that allows the company to conserve cash and incentivise employees.

The options offered to employees will have an exercise price of 14 cents, a premium of 70% to last weeks VWAP, and will expire on De..

Emmerson Resources Limited (ASX:ERM) has implemented cost-saving measures in response to the impact of COVID-19 on operations with directors, management and staff reducing fees and salaries by up to 50%.

The pandemic has resulted in the company ceasing exploration activities at its projects in the Northern Territory and in Central West NSW, including high impact drilling planned for the Kiola project.

Emmerson managing director Rob Bills said: “We have prudently implemented cost-saving measures across our business to help weather the challenging economic conditions we currently face.”

Incentive Option Scheme


The company intends to issue options to employees and directors under its Incentive Option Scheme.

Directors consider that options provide an effective form of compensation that allows the company to conserve cash and incentivise employees.

The options offered to employees will have an exercise price of 14 cents, a premium of 70% to last weeks VWAP, and will expire on December 31, 2023.

Options to be issued to directors, including the managing director, will be subject to approval of shareholders at the companys next general meeting in accordance with ASX Listing Rules.

New company secretary


Emmerson has also appointed Paul Mason as company secretary following the resignation of Trevor Verran effective from April 6, 2020.

Mason is a Chartered Accountant and has more than 20 years experience in finance and accounting within the resources industry.

He was formerly company secretary and group accounting manager at Kingsgate Consolidated Ltd and prior to that company secretary and financial controller at Catalpa Resources Ltd, which is now Evolution Mining Ltd (ASX:EVN).

The board has acknowledged the valuable contribution TRead More – Source

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Blackham Resources substantial holder Delphi lifts stake to 39.03%

Blackham Resources Ltd (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) substantial shareholder Delphi continues to show confidence in the companys gold strategy, lifting its stake to 39.03%.

The German-based prolific Australian junior resources sector investor and related entities now hold more than 3.3 billion Blackham shares.

Despite difficult market conditions, Blackhams recent non-renounceable pro-rata entitlement offer received strong support from large institutions and cornerstone investors (including Delphi) and the company's chairman Milan Jerkovic.

Blackham raised about $26.15 million before costs from the offer.

Sulphide Expansion Project[hhmc]
Jerkovic said after the raising: “Blackham is fortunate to have Delphi and a number of significant global institutions that stepped up during the past months market turmoil.

“We take that as a real show of support not only for the Wiluna project but for the current management team and our staged strategy to becoming one of the largest si..

Blackham Resources Ltd (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) substantial shareholder Delphi continues to show confidence in the companys gold strategy, lifting its stake to 39.03%.

The German-based prolific Australian junior resources sector investor and related entities now hold more than 3.3 billion Blackham shares.

Despite difficult market conditions, Blackhams recent non-renounceable pro-rata entitlement offer received strong support from large institutions and cornerstone investors (including Delphi) and the company's chairman Milan Jerkovic.

Blackham raised about $26.15 million before costs from the offer.

Sulphide Expansion Project


Jerkovic said after the raising: “Blackham is fortunate to have Delphi and a number of significant global institutions that stepped up during the past months market turmoil.

“We take that as a real show of support not only for the Wiluna project but for the current management team and our staged strategy to becoming one of the largest single asset gold producers in Australia.

“The resultant transformation of the Blackham balance sheet will allow the company to move rapidly ahead on its previously announced Sulphide Expansion Project.”

Delphis largest mining investment to date


Major Delphi shRead More – Source

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Australia

Euro Manganese closes first tranche of C$1 million non-brokered private placement

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has closed the first component of a non-brokered private placement which is expected to raise in excess of C$1.005 million in two tranches.

Tranche-one comprised 4.47 million shares and 227,273 CHESS Depositary Interests (CDI) at a price of C11 cents per share and A13 cents per CDI for aggregate gross proceeds of C$517,489.

The second tranche of the offering, consisting of subscriptions by related parties of the company of 4.26 million shares at the same prices for aggregate gross proceeds of C$487,780, is expected to close on or about May 5, 2020.

Tranche-two is subject to approval by the companys shareholders as required by Listing Rule 10.11.5 of the Australian Securities Exchange and EMN has called a special meeting of shareholders for May 1, 2020, for this purpose.

Funds to advance manganese project[hhmc]
Placement proceeds will be used to further advance the Chvaletice Manganese Project in the Czech Republic, including advancing the feas..

Euro Manganese Inc (ASX:EMN) (CVE:EMN) has closed the first component of a non-brokered private placement which is expected to raise in excess of C$1.005 million in two tranches.

Tranche-one comprised 4.47 million shares and 227,273 CHESS Depositary Interests (CDI) at a price of C11 cents per share and A13 cents per CDI for aggregate gross proceeds of C$517,489.

The second tranche of the offering, consisting of subscriptions by related parties of the company of 4.26 million shares at the same prices for aggregate gross proceeds of C$487,780, is expected to close on or about May 5, 2020.

Tranche-two is subject to approval by the companys shareholders as required by Listing Rule 10.11.5 of the Australian Securities Exchange and EMN has called a special meeting of shareholders for May 1, 2020, for this purpose.

Funds to advance manganese project


Placement proceeds will be used to further advance the Chvaletice Manganese Project in the Czech Republic, including advancing the feasibility study and preparation of the Environmental Impact Assessment submission as well as for other general corporate purposes.

Fees payable by the company in connection with the offering are a management fee, payable in cash of 1% of the aggregate gross proceeds from the offering.

Shares issued pursuant to the first tranche of the offering are subject to a four-month and one day statutory hold period expiring on August 7, 2020.

Stock option grant


Euro Manganese will also grant stock options to an officer, an employee and a consultant to purchase up to an aggregate of 350,000 shares.

These options are exercRead More – Source

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