Public Company News

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.

Coolgardie Minerals has started mining the higher grade oxide ore at its Geko pit near Bullabulling in WA under the second stage of its three stage mine plan. About 260,000 tonnes of ore at an average grade of 2.23g/t gold will be mined during this stage. Ore with a grade exceeding 2.75g/t gold will be offered to Northern Star Resources under the existing ore sale agreement.

King River Resources has recovered up to 92% vanadium in heated sulphuric acid vat leaching metallurgical test work on coarse lump ores from its massive Speewah project, located near Kununurra in the Kimberley region of WA. The company says the encouraging results support the development of an alternative ore processing route for its flagship vanadium project that could drastically lower capital and operating costs.

Middle Island Resources pocketed $1.4m last week from an entitlements offer to shareholders that closed well over-subscribed in a challenging market. The funds were raised primarily for key exploration and development activities at the company’s Sandstone gold Project in WA’s Murchison region. This will include completing work on the flagship Two Mile Hill tonalite deeps deposit and diamond drilling three intriguing lookalike gravity targets nearby.

Adriatic Metals has intersected a stunning 72m long diamond drill intersection grading 18.3% zinc, 10.7% lead, 2.5g/t gold, 211g/t silver, 2.5% copper and 25% barite from 206m down-hole at its emerging Rupice prospect in Bosnia. The new result extends mineralisation 30m down-dip and down-plunge to the north. A maiden mineral resource estimate for Rupice prospect is expected in the first half of 2019.