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European Lithium wins hotly contested ballot to secure ground with iron ore resource and strong conglomerate gold potential

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has won a landmark ballot to secure a strategic tenement in the same region of North West Western Australia that hosts the recent gold discoveries of De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF), Artemis Resources Ltd (ASX:ARV) (OTCMKTS:ARTTF) and Novo Resources Corp (CVE:NVO) (OTCMKTS:NSRPF).

In a strongly contested ballot with 14 applicants, EUR secured the newly created tenement E47/4144 of approximately 130 square kilometres which surrounds the Chinese-owned Mt Anketell iron deposit.

As well as hosting a JORC 2004-compliant iron ore resource of 1.56 billion tonnes grading 31.2% iron, there is strong potential for conglomerate gold discoveries owing to the success of others in the region.

“Massive win for company”[hhmc]
In describing the ballot victory as a massive win for the company, EUR chairman Tony Sage said the existing iron ore resource and potential for extensions was supported by gold prospectivity.

Wi..

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has won a landmark ballot to secure a strategic tenement in the same region of North West Western Australia that hosts the recent gold discoveries of De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF), Artemis Resources Ltd (ASX:ARV) (OTCMKTS:ARTTF) and Novo Resources Corp (CVE:NVO) (OTCMKTS:NSRPF).

In a strongly contested ballot with 14 applicants, EUR secured the newly created tenement E47/4144 of approximately 130 square kilometres which surrounds the Chinese-owned Mt Anketell iron deposit.

As well as hosting a JORC 2004-compliant iron ore resource of 1.56 billion tonnes grading 31.2% iron, there is strong potential for conglomerate gold discoveries owing to the success of others in the region.

“Massive win for company”


In describing the ballot victory as a massive win for the company, EUR chairman Tony Sage said the existing iron ore resource and potential for extensions was supported by gold prospectivity.

With the tenement area not having been previously examined for gold, Sage said EUR would immediately hit the ground with reconnaissance exploration to test the conglomerate gold potential.

The iron ore deposit was previously owned by Cape Lambert Resources Limited (ASX:CFE) and as well as estimating a resource, confirmed metallurgical test-work concentrated the product to between 60-66% iron and less than 5% silica.

EUR will also begin desktop studies of the iron ore deposit extension opportunities previously identified by Cape Lambert.

Sage said the ballot win allowed EUR and its strategic advisors Talaxis to continue the progress the advanced Wolfsberg Lithium Project in Austria at a time when there was significant EU focus on regional EV metal development.

“As well, EUR can now add a strategic landholding in the North West of Western Australia and this comes with nil consideration, save for management time.”

Talaxis funding discussions


Recognising the potential opportunities presented by the ballot win EUR has started discussions with recently appointed strategic partner Talaxis Limited in respect of a number of possible funding opportunities regarding E47/4144.

Talaxis is a wholly-owned subsidiary of Noble Group Holdings Limited, which is a significant global iron ore trader and iron ore mine owner as well as being a leader in EV technology metals project development, hence its ties with the company through the Wolfsberg project.

Sage said: “EUR won approximately 90% of the available land holdings in the ballot and importantly, the tenement area has never been tested for conglomerate gold given it is only a recently discovered geological phenomenon in the last few years.

“The geology certainly supports the potential to host that style of deposit and we cant wait to commence reconnaissance exploration to test the theory.”

From an initial review of the underlying geology of the tenement, it may contain similar conglomerate characteristics which have been prospected in the past for nugget gold.

To the north, the licence is bounded by the Indian Ocean which indicates that potential conglomerates have been covered by thin marine sediments and mangroves.

The tenement over a total magnetic intensity (TMI) image.

Fast-track exploration plan


EUR intends to start immediate exploration with a field team delineating past workings in the field then obtaining government approvals (pending grant) to construct a suitable costeaning program to discover metallic lodes.

With the potential for large nuggets, the company will look to undertake larger than normal samples based on similar programs to that undertaken by Novo to the south at the Comet and Purdys Reward projects.

One of the issues of gold in the conglomerates oRead 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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