Announcements

Caravel Minerals has confirmed a new geological and structural model for the Bindi deposit, located near Perth in WA, by drilling multiple new zones of copper sulphide mineralisation up to 200m wide at its namesake project. The company is updating the mineral resource model and an updated mineral resource estimate for the project is expected later this quarter, incorporating all the new geology and assay data.

Pilbara conglomerate gold theorist, Novo Resources, has generated encouraging gold recoveries of up to nearly 90% from ore sorting trials at its Comet Well project located near Karratha in WA. The trials produced ore grades up to 792.4g/t in sorted gold concentrates and additional work will now be undertaken at smaller crush sizes and on oxidised ore samples to optimise gold recoveries even further.

MGC Pharmaceuticals’ botanic division has achieved a significant milestone with its Czech Republic greenhouse delivering 700kg of cannabis biomass in 2018, up 30% from the previous year. The company has also developed a new proprietary genetic strain of cannabis that contains over 35% THC and less than 1% CBD, allowing MGC to obtain more THC per kg of raw material to create cost effective medical cannabis products.

St George Mining has delineated two new nickel/copper targets at its Mt Alexander project, near Leonora in the northern Goldfields of WA. The Fairbridge prospect lies between the key Stricklands and Cathedrals prospects and is replete with surface gossans that returned impressive rock chip assays up to 1.23% nickel and 1.09% copper. The new West End prospect may contain buried sulphide mineralisation west of the existing Investigators prospect.

Calima Energy is set to rake in revenue of up to CAD$400,000 per year after bringing the Paradise oil well in northeast British Columbia back into production at a rate of between 16 and 20 barrels of oil per day. Revenue from the well will help pay for the company’s Canadian overheads, allowing it to focus on the high impact drilling program in the revered Montney oil and gas play.

Tyranna Resources is poised to divest its remaining 18.59% interest in the non-core Wilcherry JV gold project in South Australia to partner Alliance Resources for a tidy $1.5m in cash. The sale will allow the company to focus on its Eureka gold project near Kalgoorlie, WA, the Jumbuck gold project in South Australia and the Goodsprings cobalt and base metals project in Nevada, USA.

Anglo Australian will soon start its maiden exploratory RC drilling campaign at the Koongie Park gold project near Halls Creek in WA after receiving all site clearances to commence the field program. The company will target the Nicolsons East and Bulldog prospects, which lie in same prospective shear zone as Pantoro Limited’s Nicolsons underground gold mine, that reported a mineral resource of 393,000 ounces in May last year.

BlackEarth Minerals has unveiled an attractive set of numbers including post tax NPV at a 10% discount of USD$78.4m and IRR of 35.4% as part of the scoping study for its Maniry graphite project in southern Madagascar just 12 months after listing on the ASX. Capital costs for the first phase development has been estimated at USD$41m with payback expected in just 2.7 years.

Azumah Resources has generated an updated ore reserve estimate of 18 million tonnes grading 1.77g/t gold for just over 1 million ounces at its Wa project in Ghana. This represents a 65% increase in the ore reserves last reported in 2014 and underpins a feasibility study that presently shows an 11 year project life, producing about 100,000 ounces per annum in the first 6 years.

Tyranna Resources’ partner Alliance Resources has discovered a zone of gold anomalism from aircore drilling at the Weednanna East prospect of their Wilcherry JV project in South Australia. The magnitude and distribution of gold may be indicative of primary gold mineralisation and Alliance plans to carry out further drilling to better define the gold in regolith anomalies before carrying out bedrock drill testing.

Greenland Minerals has completed an optimised design for its proposed port facility to service the massive Kvanefjeld rare earths project in southern Greenland, allowing capital costs to be updated. The work by PND Engineers and China Communications Construction Co follows a revised design for the project’s plant and infrastructure delivered in late 2018 by Tetra Tech, which dramatically reduced civil earth working costs.

PharmAust has signed an agreement with US pharmaceutical heavyweight Elanco that allows the biotech company to reference certain safety and blood chemistry data that were generated for the regulatory approval of Monepantel in Australia, New Zealand and the EU, as an anti-parasitic drug in livestock animals. This could potentially expedite the early proof of principle phase two trials of the anti-cancer drug in dogs.

Kairos Minerals has uncovered additional gold anomalies over more than 10km strike at its emerging Croydon gold project, located near Port Hedland in the Pilbara region WA. Encouraging new assays up to 1.2g/t gold were returned from geochemical stream sediment sampling. The company is also reviewing a development pathway for its 643,000 ounce gold resource at the Mt York project, located 100km west of Croydon.

MGC Pharmaceuticals has completed the sale of its cannabis-based cosmetics business, MGC Derma, to CannaGlobal for a 10% stake in the private Canadian cannabis investment company. The company will now focus on its cannabis-based pharmaceutical products and deliver on its seed-to-pharma business model.

Southern Gold has confirmed narrow, high grade gold/silver mineralisation from an underground infill and extensional channel sampling program at its emerging Weolyu South epithermal precious metal project in South Korea. Results included 0.45m @ 30g/t gold and 1,280g/t silver and 0.55m @ 28.9g/t gold and 1,350g/t silver. A re-assay of 2017 samples also provided a significant 30% uplift in gold grades from the original analyses.

Calima Energy has spudded the second of two horizontal wells at its Canadian Montney oil and gas play that will be placed on extended production testing to assess the commerciality of its acreage. Successful testing of the Calima-2 and Calima-3 horizontal wells will allow the company to convert at least some of its resources from prospective to the higher confidence contingent level.

Venus Metals’ metallurgical testing of beneficiated oxide ores from the Youanmi project in WA, has shown that heated, sulphuric acid leaching produces recoveries near 80% of the contained vanadium pentoxide content, whilst rejecting 40% of the waste materials. Further work is underway to optimise the process flowsheet for the scoping study and Venus is presently updating the Youanmi mineral resource estimate.

Upstart telco Vonex continues to steadily build its cloud based PABX telephony business with the company reaching a record of 26,000 registered users as at 25 January 2019. This is up 22% from the 21,000 users it had a year ago and is a key indicator of the company’s business development progress as it expands its reach to small and medium enterprises.

Tyranna Resources’ partner Alliance Resources has identified a new gold target within the Wilcherry JV project in South Australia after re-assaying historic iron ore drill samples. Better results from the re-analysis of drilling carried out by Ironclad Mining between 2008 and 2012 at the Weednanna North prospect included 8m @ 1.06g/t gold from 58m down-hole and 22m @ 0.34g/t gold from 42m.

Great Southern Mining has successfully completed metallurgical test work on oxidised ores from its flagship Mon Ami project in WA that showed up to 97% recovery of the contained gold. The work has confirmed that the ores are amenable to conventional cyanide leaching and gravity recovery techniques and that low reagent uptake and coarse grinding will likely result in low operating costs.

Blina Minerals ongoing due diligence work at the Maintirano copper project in western Madagascar continues to return encouraging results with eight samples returning more than 5% copper, including a sample that registered 37.5% copper and 33ppm silver. The company will now carry out airborne surveys to help locate additional vein systems as no modern exploration methods have been used at Maintirano to date.

Sovereign Metals has outlined the high grade potential of its titanium-rich rutile mineralisation in central Malawi, this week reporting significant assays from re-sampling of historical hand-auger drill holes located in two areas 40km apart. Nearly 80% of the holes contained significant titania mineralisation, with an average weighted grade of 1.89% titanium dioxide.

Hammer Metals has received some encouraging news at its Perentie project near Mt Isa in Queensland, with its first pass RC drilling campaign returning some high grade copper results. Notable results include 1m @ 4.21% copper and 0.13g/t gold from 75m down-hole at the Paddy B prospect and 2m @ 2.36% copper and 2g/t gold from 37m down-hole at the Trackside prospect.

Altech Chemicals continues to progress its high purity alumina project with the company securing the development order for the processing plant in Johor, Malaysia. Site establishment works have now commenced and will be followed by the stage 1 construction works such as the bulk earthworks, construction of retaining walls and a maintenance workshop.

Greenland Minerals now has a formal means for the Chinese processing of its rare earth concentrates from the massive Kvanefjeld project in Greenland that contains the radioactive elements uranium and thorium. This follows its largest shareholder Shenghe Resources Holding forming the China Nuclear Hua Sheng Mining joint venture with subsidiaries of China National Nuclear Corporation.

Wireline logs at Calima Energy’s first well at the revered Montney oil and gas play in Canada have returned porosities and hydrocarbon saturations comparable to those in adjacent producing wells. Analysis of the log and core data also confirmed the presence of three zones that match those already targeted by other operators in the region. The company has also spudded the first of two horizontal wells.

MGC Pharmaceuticals has secured approval from Australia’s Therapeutic Goods Administration to start the Phase IIB clinical trial of its CogniCann medical cannabis treatment for dementia and Alzheimer’s patients. The company’s manufacturing facility in Ljubljana, Slovenia, has also secured a permit to extract and develop its own Phytocannabinoid active pharmaceutical ingredients.

Australian Potash has hit a major milestone with the manufacture of high grade sulphate of potash at its pilot processing plant in Perth that exceeded its previous expectations of product quality. The 98% purity SOP product was generated from the first raw salt products from the pilot pond network at the company’s Lake Wells SOP project, located about 180km northeast of Laverton in the Goldfields region of WA.

Terrain Minerals plans to undertake a 650m RC drilling campaign at a priority and potentially high impact gold target under transported soil cover at the Wild-Viper project tenement north of Leonora in WA. A successful drilling program will validate the company’s structural geological model and potentially unlock the multiple targets it has identified throughout the tenement.

Kalia Limited’s preliminary interpretation of new geophysical data over its Mt Tore JV tenements located on Bougainville Island in PNG has identified intrusive geological complexes and structural pathways for potential mineralisation. Imagery produced from the survey data is being used by Kalia personnel on-site for the generation of new exploration targets.

PharmAust has received new data from Canada’s BRI Biopharmaceutical Research that a specific combination of diet and excipient could double the amount of its Monepantel anti-cancer drug that can be delivered into the bloodstream of dogs. This could increase the flexibility for dosing schedules of Monepantel and potentially simplify the treatment of canine cancers.

Nzuri Copper has extended copper mineralisation to 1.2km of strike at its Kasangasi prospect, located 20km west from the flagship Kalongwe deposit in the DRC. Results of up to 15m @ 1.07% copper from 83m down-hole were returned. The company also reported impressive cobalt results from the Monwezi 7 prospect, saying the prospect has potential to be a key, near-mine, additional source of high-grade cobalt feed.