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Alkane Resources focused on growing gold bounty through exploration and strategic investments

Alkane Resources Limited (ASX:ALK) is focused on growing its gold bounty through increasing production at Tomingley Gold Operations (TGO), pursuing organic growth through targeted exploration and development, and strategic investment.

The reliable, existing production from Tomingley met FY20 guidance with 33,507 ounces of gold produced and the company has estimated FY21 guidance at 45-50,000 ounces at an AISC of A$1,450 to A$1,600 per ounce.

The focus is now on production growth through the Tomingley Corridor via exploration at the San Antonio, Roswell ad El Paso targets and further exploration at the recent Boda discovery.

Tomingley Extension Project[hhmc]
Exploration at Tomingley Gold Operations (TGO) to date includes the completion of infill drilling at 40-metre spacing at the Roswell and San Antonio targets with a further 20-metre program underway.

An exploration drive is planned from the existing Wyoming One decline at TGO with drilling positions and bulk samples between Wyomi..

Alkane Resources Limited (ASX:ALK) is focused on growing its gold bounty through increasing production at Tomingley Gold Operations (TGO), pursuing organic growth through targeted exploration and development, and strategic investment.

The reliable, existing production from Tomingley met FY20 guidance with 33,507 ounces of gold produced and the company has estimated FY21 guidance at 45-50,000 ounces at an AISC of A$1,450 to A$1,600 per ounce.

The focus is now on production growth through the Tomingley Corridor via exploration at the San Antonio, Roswell ad El Paso targets and further exploration at the recent Boda discovery.

Tomingley Extension Project


Exploration at Tomingley Gold Operations (TGO) to date includes the completion of infill drilling at 40-metre spacing at the Roswell and San Antonio targets with a further 20-metre program underway.

An exploration drive is planned from the existing Wyoming One decline at TGO with drilling positions and bulk samples between Wyoming and Roswell.

The maiden resource at Roswell is 7.02 million tonnes at 1.97 g/t gold for 445,000 ounces and as the underground extension is the priority for the company with the indicated resource update expected in late quarter three/early quarter four of 2020.

The maiden resource at San Antonio is 7.92 million tonnes at 1.78 g/t gold for 453,000 ounces and the exploration target at El Paso is around 5.1 to 7.4 million tonnes at a grade range of 1.3 to 1.6 g/t.

These three targets bring the total resource for TGO and the Tomingley extension project to 25.4 million tonnes at 1.9 g/t gold for 1.616 million ounces.

Boda discovery


The company has encountered significant gold-copper mineralisation in RC drilling at the Boda discovery to the northeast, which has similar characteristics to Newcrest Mining Limiteds (ASX:NCM) Cadia Valley Mine 110 kilometres to the south.

There are strong indications of a large system at Boda, including intercepts of:

  • 689 metres at 0.46 g/t gold and 0.19% copper; and
  • 1,167 metres at 0.55 g/t gold and 0.25% copper.

A further 30,000 metre drill program is in progress over FY21, targeting the high-grade core plus prospective areas in the corridor.

Other regional targets presented by IP and data review will also be tested.

Strategic demerger


As of June 30, 2020, the company had $98.4 million in cash, bullion and listed investments.

Additionally, significant value was created through the demerger of Australian Strategic Materials (ASX:ASM) on July 29, 2020.

Pre-demerger, Alkane closed at $1.18, post demerger the share price has traded in a range of $1.04 to $1.31.

Alkane believes the demerged entity closing at $1.40 on the first day, implies a $167 million market cap and ASM trading at $2.19 at close on September 17, 2020, represents $0.44 in Alkane terms.

A major drill program of 30,000 metres is currently underway at Boda

Gold investments support growth


Alkanes vision is to become a multi-mine Australian gold producer, anchored by its Tomingley Gold Operations and strong regional NSW exploration portfolio.

The long-Read More – Source

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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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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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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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