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Great Southern Mining raises A$3.5mln for brownfield exploration at Coxs Find and potentially company-making assets at Edinburgh Park

“The focus is on gold,” says Mark Major, the chief operating officer of Great Southern Mining Ltd (ASX:GSN).

“Its the commodity of choice.”

Hard to argue with that statement when gold has outperformed almost every asset class over the past year, putting in a solid 30% gain in US dollar terms since May 2019, and an even more encouraging 40% or so in Aussie dollar terms.

The Great Southern Mining share price beats both of those however, having risen by more than 60% over the past 12 months. At one point at the end of last year it was trading at nearly four times the value it was trading at in May.

So, even if volumes are light, this is a stock that the market clearly likes. The choice of commodity, as Mark Major mentions, is one reason.

But there are others too, in particular, the quality of the companys assets in Western Australia and Queensland, and the quality of the companys management team.

The companys executive chairman is John Terpu, the man behind Conquest Mining, one of t..

“The focus is on gold,” says Mark Major, the chief operating officer of Great Southern Mining Ltd (ASX:GSN).

“Its the commodity of choice.”

Hard to argue with that statement when gold has outperformed almost every asset class over the past year, putting in a solid 30% gain in US dollar terms since May 2019, and an even more encouraging 40% or so in Aussie dollar terms.

The Great Southern Mining share price beats both of those however, having risen by more than 60% over the past 12 months. At one point at the end of last year it was trading at nearly four times the value it was trading at in May.

So, even if volumes are light, this is a stock that the market clearly likes. The choice of commodity, as Mark Major mentions, is one reason.

But there are others too, in particular, the quality of the companys assets in Western Australia and Queensland, and the quality of the companys management team.

The companys executive chairman is John Terpu, the man behind Conquest Mining, one of the two companies that merged in 2011 to form one of Australias most prominent mid-tier companies, Evolution Mining (ASX:EVN).

Major himself has 25 years of experience in the junior and mid-tier resources spaces, and has operated both in Australia and internationally. Whats more, it seems likely that he will eventually graduate from his current position as chief operating officer into a fully-fledged chief executive role, becoming thereby one of the main driving forces of the company in the years ahead.

Hes already exuding a palpable sense of enthusiasm for the projects on offer inside the Great Southern Mining portfolio, in particular Coxs Find in the Laverton district of Western Australia, where historic production that ran till the late 1940s delivered ore at a head grade of 21 grams per tonne.

That material was in itself mined at a 12 gram per tonne cut-off so it comes as no surprise to discover that theres considerable potential at Coxs Find from waste dumps and secondary ore thats still sitting at surface and remnant in the ground.

Major is firmly of the view that serious exploration at Coxs Find could pay big dividends, and in the near term. The company thinking is that the five targets that have so far been generated could each yield up to 150,000 ounces of gold. And theres also the potential to go deeper into the original mine itself, where production only ever went down to 150 metres.

Accordingly, the rigs are now being lined up.

“Were about to embark on the first major drilling campaign for over 30 years,” says Major.

“Well drill 9,000 metres, or maybe even close to 10,000 metres, where the old timers developed, targeting the extension of the orebody as it plunges down near the mine.”

The drilling will also confirm if the structural model the company has put together is correct and, if an attractive zone of mineralisation is intersected, it will be drilled out as a matter of course.

“The opportunitys there,” says Major.

“Its got high grade ounces, and you can go anywhere with high grade ounces – we wouldnt have to build our own mill. Our neighbours will be crying out for high grade ore.”

And investors meanwhile, will be sitting back in satisfaction and watching as Great Southern embarks on the next stage of its journey.

First will be the nearby Mon Ami project, just to the south of Coxs Find. This project already boasts a resource of 59,000 ounces grading 1.7 grams per tonne.

“That prospect has the potential to be mined tomorrow,” says Major.

“It has free digging at surface and is open in all directions. The north extension has targets and to the south there are old historical adits and shafts. The oxide layer goes to 120 metres, and well be looking at trying to get it to 200,000 and 300,000 ounces inferred, of which significant measured and indicated resource would make us ready to go mining.”

The plan would be to start mining at Mon Ami with contract miners and toll treat the ore, although its altogether possible that the project might have been sold on to an interested party before Great Southern actually gets to that stage. An outcome like that wouldnt just be wishful thinking – when he was putting the company together John Terpu deliberately selected assets that were close to other major projects and companies.

But, when all is said and done, says Major, neither Coxs Find nor Mon Ami is going to be a multi-million Read More – Source

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Australia

S&P/ASX 200 flat at lunch but still on track for its sixth straight week of gains

S&P/ASX 200 (INDEXASX:XJO) is trading 1 point or 0.023% down to 5990 at 12.48 pm but is still up +4% so far this week and is on track for its sixth straight week of gains.

The S&P 200s drop follows the US share markets which were mixed on Thursday ahead of Friday's jobs report. Investors are also awaiting plans for the next round of US economic stimulus.

Top gainers on ASX today include Talisman Mining Ltd (ASX:TLM) (+12.24%), Rimfire Pacific Mining NL (ASX:RIM) (+16.67%), Canyon Resources Ltd (ASX:CAY) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+33.33%), De Grey Mining Limited (ASX:DEG) (+23.75%) and Brookside Energy Ltd (ASX:BRK) (+14.29%).

Proactive news headlines:
Technology Metals has $2 million raising backed by major Tinci Materials shareholder[hhmc]
Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs. The company is plea..

S&P/ASX 200 (INDEXASX:XJO) is trading 1 point or 0.023% down to 5990 at 12.48 pm but is still up +4% so far this week and is on track for its sixth straight week of gains.

The S&P 200s drop follows the US share markets which were mixed on Thursday ahead of Friday's jobs report. Investors are also awaiting plans for the next round of US economic stimulus.

Top gainers on ASX today include Talisman Mining Ltd (ASX:TLM) (+12.24%), Rimfire Pacific Mining NL (ASX:RIM) (+16.67%), Canyon Resources Ltd (ASX:CAY) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+33.33%), De Grey Mining Limited (ASX:DEG) (+23.75%) and Brookside Energy Ltd (ASX:BRK) (+14.29%).

Proactive news headlines:

Technology Metals has $2 million raising backed by major Tinci Materials shareholder


Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs. The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd. Tinci Materials is a leading manufacturer and marketer of battery materials.

Talisman Mining will start diamond drilling this month at Lucknow Gold Project, shares up


Talisman Mining Ltd (ASX:TLM) (OTCMKTS:TLSMF) is higher on news that diamond drilling will begin this month at Lucknow Gold Project in the historic Lucknow Goldfields of Central West NSW. The first diamond drill testing will target an interpreted high-grade gold lode offset position at Lucknow here historic production was in excess of 400,000 ounces at an average estimated mined grade of +100 g/t. Shares have been as much as 17% higher in early trade to 11.5 cents.

De Grey Mining higher again after defining major gold extension at Hemi discovery


De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF) (FRA:DGD) has continued a run of share price gains with drilling defining a major extension of Brolga zone at the Hemi gold discovery in WAs Pilbara region. This extension of the Brolga intrusion defined by initial shallow aircore drilling is approximately 1,000 metres long by 200 metres wide and enhances the potential to expand near-surface open pit resources. Results include 16 metres at 2.4 g/t from 40 metres, 8 metres at 2.2 g/t from 52 metres and 4 metres at 5.0 g/t from 60 metres.

Musgrave Minerals rises on defining large new gold targets at Lake Austin JRead More – Source

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Australia

St George Mining steps-up Mt Alexander drilling after identifying large nickel-copper sulphide target

St George Mining Ltd (ASX:SGQ) has stepped up the pace of drilling at Mt Alexander in WA after identifying a large conductive feature at Fish Hook prospect through magnetotelluric (MT) and audio-magnetotelluric (AMT) surveys.

The new conductive feature is below the high-order nickel-copper soil anomaly at Fish Hook and is modelled to dip to the northwest, consistent with the known ultramafic stratigraphy elsewhere in the Cathedrals Belt.

Seven reverse circulation (RC) reconnaissance drill holes have been completed at Fish Hook but were too shallow to intersect the new conductive feature, which commences 250 metres below surface.

Additional drilling is planned to test this compelling target for nickel-copper sulphides.

“Exciting time”[hhmc]
Executive chairman John Prineas said: “Diamond drilling of the deeper MT conductive targets will start shortly and we are excited to have another high-quality target to drill at the Fish Hook prospect.[hhmc]
“The resource drill-out at Stricklands..

St George Mining Ltd (ASX:SGQ) has stepped up the pace of drilling at Mt Alexander in WA after identifying a large conductive feature at Fish Hook prospect through magnetotelluric (MT) and audio-magnetotelluric (AMT) surveys.

The new conductive feature is below the high-order nickel-copper soil anomaly at Fish Hook and is modelled to dip to the northwest, consistent with the known ultramafic stratigraphy elsewhere in the Cathedrals Belt.

Seven reverse circulation (RC) reconnaissance drill holes have been completed at Fish Hook but were too shallow to intersect the new conductive feature, which commences 250 metres below surface.

Additional drilling is planned to test this compelling target for nickel-copper sulphides.

“Exciting time”

Executive chairman John Prineas said: “Diamond drilling of the deeper MT conductive targets will start shortly and we are excited to have another high-quality target to drill at the Fish Hook prospect.


“The resource drill-out at Stricklands is also underway and we look forward to completing the scoping study for what we believe could be a low-capex, high-margin mining operation at Stricklands.

“This is an exciting time for St George Mining.”

Diamond rigs due on-site


The first of two diamond drill rigs is due to arrive at the site this weekend with the second diamond drill rig also expected shortly.

Diamond drilling will focus on testing the new, deeper conductive features identified by the MT/AMT surveys with targets at Investigators prospect the first of the deeper nickel-copper sulphide targets to be drilled.

Six metallurgical drill holes will also be completed by diamond drilling at the Stricklands prospect as part of the scoping study into a potential mining operation.

Map of the Cathedrals Belt showing areas of planned drilling and overlaying interpreted geology and magnetics.

Additional MT/AMT Survey


Modelling of the remaining MT/AMT survey data is progressing and further results are expected next week.

Drill targets will be designed for West End and FairRead More – Source

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Australia

Technology Metals has $2 million raising backed by major Tinci Materials shareholder

Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs.

The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd.

Tinci Materials is a leading manufacturer and marketer of battery materials.

Funds to progress vanadium project[hhmc]
Funds raised will be used to progress development of the Gabanintha Vanadium Project in WA, including advancing environmental work in support of the preparation of an Environmental Review Document.

Participants in the placement will receive a 1 for 2 free attaching option exercisable at 25 cents per share on or before June 15, 2022.

The strategic investors offer a wealth of experience and contacts in technology metals key customer markets ..

Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs.

The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd.

Tinci Materials is a leading manufacturer and marketer of battery materials.

Funds to progress vanadium project


Funds raised will be used to progress development of the Gabanintha Vanadium Project in WA, including advancing environmental work in support of the preparation of an Environmental Review Document.

Participants in the placement will receive a 1 for 2 free attaching option exercisable at 25 cents per share on or before June 15, 2022.

The strategic investors offer a wealth of experience and contacts in technology metals key customer markets as well as significant operational experience and investments within the rapidly emerging battery metals markets.

Placement capacity


The placement will be conducted under the companys current placement capacity in line with ASX Listing Rule 7.1 and 7.1A:

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