Public Company News

AVZ Minerals has met with officials from the Tanzanian Govt, regarding infrastructure and transport options for proposed future shipments of its Manono lithium project ores through the Port of Dar es Salaam. The company also revealed this week that it had appointed mining veteran, Michael Hughes, as its new Project Director, to steer the future development of the Manono operation in the DRC.

Troy Resources continues to strengthen its Karouni gold project in South America by bringing the Ohio Creek deposit into its global resource statement during the first half of 2019. Troy also exceeded its production target for September by 1,395 ounces gold and the company now has ore reserves of 75,100 ounces grading 1.9g/t gold and mineral resources of around 15.8 Mt at 1.9g/t gold for 986,300 gold ounces.

Great Southern Mining will kick off its maiden drill program at the historical, high-grade Cox’s Find gold project near Laverton in WA, that churned out 76,000 ounces grading 22.6g/t gold for previous owner, WMC, some 80 years ago. The campaign represents the first exploratory work in 25 years, with the first drilling of any kind below 60m depth and aims to discover substantial new gold resources.

Legend Mining is taking the next steps in its Fraser Range exploration strategy with plans to drill two 500m deep diamond holes at the Area D prospect within its prospective Rockford project in search of nickel-copper sulphide mineralisation. The company has also finalised the geophysical modelling of low-frequency moving loop EM data from its recently completed survey over the previously identified D5 conductor at the project.

Coziron Resources is gearing up to kick off a comprehensive drilling campaign at its exciting Ashburton magnetite iron ore project in the West Pilbara region of WA early next year, with upcoming ground surveys to guide the final drill locations. The company is fully funded for the work after a recent $3m placement and the drilling is aimed at generating a JORC-compliant mineral resource and samples for met test work.

Venus Metals has granted a $50,000 option to Ascan Capital for the possible purchase of one of its Nardoo Hill lithium project tenements in WA’s Gascoyne region. If the 90-day option is exercised, a $350,000 purchase price will be payable via a future share issue and mining royalty to Venus. The company, along with JV partner Rox Resources, continues to focus on high-grade gold discoveries near Youanmi in the State’s Murchison district.

Novo Resources has unearthed a swag of gold nuggets from bulk sampling at its emerging Egina project located in the Pilbara region of WA. The company said that recoveries exceeded 1 gram of gold per cubic metre of lag gravels sampled and that it is investigating the use of low-cost extraction and processing of the coarse gold, using “dry” methods including continuous miners and mechanical ore sorters.

Horizon Minerals remains focussed on taking control of one of Australia’s oldest gold addresses and has agreed with Focus Minerals to extend an Exclusivity Deed for the potential $55 million acquisition of significant land, a mill and associated plant in WA’s Coolgardie region. The purchase could see the West Australian listed explorer become the Goldfields region’s next major gold producer. Horizon already has its foot on multiple gold resources surrounding Kalgoorlie.

Lindian Resources has secured an option to acquire a 51% stake in the high-grade Gaoual bauxite project in the West African country of Guinea that looks like it could be a rare “conglomerate” deposit. Average alumina grades that shoot the lights out at 54%, with a corresponding low silica content under 2%, look to be the goods. Drilling will kick off at the project in December.

Aspire Mining’s DFS for its high-quality coking coal project in northern Mongolia will be released in mid-2020, after slight delays in approvals for the infrastructure. In May, the Mongolian Government endorsed the company’s ore reserves for the Ovoot Early Stage Development project, allowing Aspire to commence the relevant environmental studies, social impact studies and project management plans for the proposed coal mine.

Neometals continues to confirm the high-grade tenor of its Mt Edwards nickel sulphide project in WA’s Goldfields on the back of some encouraging diamond drilling assay results from its recently acquired Munda deposit, where one hole returned 8.3 metres at 2.16% nickel from 93m down-hole, including an impressive 2.3m @ 6.11% nickel from 99m at the base of the ultramafic unit.

Nusantara Resources has nailed a 64-metre drill intersection grading 2.12g/t gold from 201.1m down-hole, that lies well below its USD$1,400 per ounce optimal pit shell for the flagship Awak Mas deposit on Sulawesi Island, Indonesia. The exciting result opens up a near 1km wide, sparsely drilled, potential gold mineralised corridor between the eastern edge of the proposed Awak Mas open-pit and the Salu Bulo deposit, further to the east.