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Highfield Resources progressing towards construction of flagship Muga Potash Project in Spain

Highfield Resources Ltd (ASX:HFR) is progressing with the approvals process for its Muga Potash Project in Spains potash producing Ebro Basin.

During the first half of 2020, the companys subsidiary Geoalcali has been focused on securing the mining concession and construction permits necessary to take the project to the construction phase.

Highfield remains confident of securing the necessary debt and equity financing for Muga, which will support a final investment decision and the commencement of construction at the project.

Mining concession pending[hhmc]
The mining concession documentation was submitted on March 13, 2020, following which the Spanish Government initiated a countrywide confinement program due to the impact of COVID-19, with both the groups employees and government officials working from home.

Shortly after June 22, 2020, when the nationwide COVID-19 State of Alarm was lifted, the start of the public exposition period with respect to the mining concession documentat..

Highfield Resources Ltd (ASX:HFR) is progressing with the approvals process for its Muga Potash Project in Spains potash producing Ebro Basin.

During the first half of 2020, the companys subsidiary Geoalcali has been focused on securing the mining concession and construction permits necessary to take the project to the construction phase.

Highfield remains confident of securing the necessary debt and equity financing for Muga, which will support a final investment decision and the commencement of construction at the project.

Mining concession pending


The mining concession documentation was submitted on March 13, 2020, following which the Spanish Government initiated a countrywide confinement program due to the impact of COVID-19, with both the groups employees and government officials working from home.

Shortly after June 22, 2020, when the nationwide COVID-19 State of Alarm was lifted, the start of the public exposition period with respect to the mining concession documentation was gazetted in the National Bulletin on July 4, 2020.

The public exposition period of 30 working days was concluded as scheduled on August 29, 2020, following which Geoalcali will have an opportunity to respond to any queries brought forward.

Highfield estimates that the mining concession will be awarded during the fourth quarter of 2020.

Vipasca permit exploration


Geoalcali has been focusing on the more prospective areas in the east of the Vipasca permit (around 27 square kilometres) which could represent a strategic extension of the Muga Project.

In the first half of 2020, Geoalcali completed its drilling program at the Vipasca permit area, releasing assay results for holes V18-03 and V18-05.

Drill-hole V18-03 confirmed the continuity of the Vipasca ore deposit which remains open towards the west.

Specifically, V18-03 intersected a total of 30.2 metres of potash mineralisation including:

  • 1.5 metres at an average grade of 11.98% K2O from 1022 metres;
  • 1.8 metres at an average grade of 11.29% K2O from 1060 metres; and
  • 1.5 metres at an average grade of 12.79% K2O from 1070 metres.

Drill-hole V18-05 confirmed the extension and continuity of the potash mineralisation between the Muga Project and Vipasca – linking these two projects.

On June 30, 2020, Geoalcali received the exploration permit for the Muga Sur Permit Area which abuts the south part of the Muga Project area.

Development on schedule


During the half-year, design development continued to progress in line with the project program timetable and engineering submissions were made by the principal equipment suppliers and engineering consultants.

Basic design of the process plant is advancing well and detailed design is ongoing.

K-Utec AG Salt Technologies has completed the test-work that will be used to detail the systems and components necessary for the dewatering and backfilling system and continues to progress the basic design work for the backfilling storage and placement systems.

Geoalcali is also carrying out additional lab work to further optimise the salt quality specification that will be produced from the Muga Mine.

Negotiations with Komatsu Mining Corporation for the acquisition of two bolter miners continued during the half-year and Geoalcali expects to sign an equipment purchase contract once negotiations are satisfactorily completed.

The signing of the bolter miners purchase contract will represent a significant contract award and a critical step in developing the MugRead More – Source

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Australia

Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP


The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

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Australia

Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey


Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling


The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

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Australia

Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions


Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”


PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader


Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source

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