Public Company News

Southern Gold’s decision to swoop on a number of abandoned gold mines in South Korea in 2016 is paying off handsomely, with grab samples from historically blasted rock at the old Kochang mine returning up to 17.4 g/t gold. Southern’s partner in the project estimates that the broken rock could be processed for as little as $US60/tonne and yield a profit of around $US750/ounce.

Middle Island Resources is about to lock in an option agreement over the sale of its Reo gold project in West Africa on significantly improved terms that will give it an immediate 8% stake in a Canadian gold explorer worth A$675k and A$200k in cash. If the option is exercised, Middle Island will bank a further A$200k in cash that no doubt will come in handy for the company's exploration activities in W.A

Emu NL has announced the discovery of a new gold target at its Jotahues project, within the strongly mineralised Maricunga precious metal belt in Chile. A recent soil geochemical sampling program at the Peon 4 prospect showed a 600m wide and 1.2km long anomalous zone of coincident gold, silver, copper, mercury and lead assays, which can be typical fingerprints for an epithermal gold system.

Kalia Limited has announced it will commence a highly anticipated exploration program on its porphyry copper-gold tenements on the PNG Island of Bougainville, after funds from a $3m secured loan facility were released this week. The company will invest the capital in completing a detailed aerial geophysical survey program over its tenement holdings in Bougainville and improve site facilities to support ongoing exploration activities.

Anglo Australian’s Kalgoorlie gold play is hurtling headlong towards a maiden resource after multiple successful passes with the drill rig produced gold intersections going up to 6 ounces to the tonne just 14km from the super pit. The project is located on the Norseman-Wiluna Belt which plays host to a number of major deposits including the 3moz New Celebration and 15m ounce St Ives gold mines.

TNG has been granted environmental approval for its Mount Peake vanadium-titanium-iron project near Alice Springs in the N.T. The company is finalising its mining agreement with the Central Land Council with the project mining lease expected to be granted shortly. TNG has indicated that a final investment decision for the $853m Mount Peake project is anticipated in the middle of 2018.

Classic Minerals has announced a new gold discovery at the Van Uden West prospect at its Forrestania gold project, south of Southern Cross. The best result of 12m @ 5.75g/t gold from 59m down-hole is open along strike and down-dip. High grade results were also reported from both the Kat Gap and Lady Lila prospects in exploration that confirmed the orientation of the gold mineralisation.

DroneShield has set up a demonstration hub for its cutting-edge range of anti-drone products in the Netherlands where the NATO Joint Force is headquartered. Next month the company will present its suite of drone-combatting products at the new hub to NATO Governments including military, law enforcement and secret service agencies. It will then hold a series of demonstrations across Europe.

Southern Gold has reported encouraging developments at its South Korea gold projects. At Gubong, the company’s JV partner Bluebird Merchant Ventures has announced gold recoveries exceeding 90% from met test work. At the Kochang mine, Bluebird has completed an extensive mapping and sampling program of underground workings. Bluebird is evaluating the economic feasibility of re-opening the historic gold mines.

Lithium Australia’s Sadisdorf project in the “Ore Mountains” of Germany’s Saxony region has returned solid drill hits of lithium and tin from the first hole of a maiden drill program. Intercepts included 32.19m at 0.52% lithium oxide, well above the average grade of the maiden inferred resource announced last December, confirming the pervasive nature of the lithium mineralisation.

Algae.Tec has locked down a research deal with Canada's Radient Technologies that will see the health sciences company accelerate the production of high-value algae-based products into the lucrative global nutraceuticals market. Algae.Tec will use Radient’s unique extraction technology to boost yield and consistency of its algae-based products that are in development for the nutraceuticals market.

Altech Chemicals dogged bid to avoid almost any further equity dilution when locking away the final chunk of funding needed to build its exciting high purity alumina plant just got a giant shot in the arm with an offer of further debt now firmly on the table. The company said that a global investment bank had offered up the entire remaining amount of $US120m in debt.