Public Company News

Alaska-focused 88 Energy has estimated that its wholly-owned Yukon leases in the famed “North Slope” oil province could hold prospective oil resources of about 90 million barrels of oil after processing 3D seismic it acquired earlier this year. The company will generate an inversion 3D volume to further delineate and de-risk the current mapping at the leases.

Geopacific Resources has completed its DFS for the Woodlark gold project in PNG, demonstrating a high margin operation, with an initial mine life of 13 years. The project generates a post-tax NPV of $197m and an IRR of 29%, with payback just over 2 years. Woodlark will produce about 100,000 ounces of gold annually for the first 5 years at an all-in sustaining cost of just $866 per ounce.

Delecta Limited has further confirmed the high grade nature of mineralisation at the Highline project near Las Vegas in the US, with its due diligence sampling returning up to 1.46% cobalt and 31.2% copper. Geological mapping and sampling is now underway on both the underground workings and prospecting pits to gain a better understanding of the orientation and extent of the mineralisation.

Infinity Lithium is looking to either farm-out or divest its non-core Banio potash project in southern Gabon after pencilling in a maiden inferred JORC mineral resource of 1.67 billion tonnes at 16.1% potassium chloride. The project includes high grade sylvinite that includes seams at 30.7 million tonnes at 25.3% potassium chloride and may be amendable to the lower cost, in-situ leach mining method.

Artemis Resources has discovered three new gold exploration targets across its extensive land holdings near Karratha in WA, with a comprehensive geochemical soil sampling program outlining several multi-element anomalies for follow-up exploration. Rock chip sampling has outlined numerous gold occurrences, including assays up to 11.4g/t in quartz veining at the new Patterson’s Hut prospect, located just 15km north of the company’s Radio Hill processing plant.

TNG Ltd has appointed leading German metallurgical engineering company SMS Group to start front end engineering and design work for its Mount Peake vanadium-titanium-iron project in the NT. SMS will also provide TNG with a binding fixed-priced turn-key EPC proposal for the concentrator and processing plant that will include production quantity, production rate and product quality guarantees.

Affinity Energy and Health has doubled its algae culturing capacity from 20 grams per litre to 40gpl through innovative operating procedures without incurring any additional capital or operating cost increases. The company has identified potential to further increase its algae culturing capacity to 60gpl and expects to increase algae production to more than 250 tonnes per annum with minimal capital expenditure.

Adriatic Metals has continued its run of amazing drill results from its Bosnian, multi-commodity play with the latest numbers showing a 24 metre intersection going 8.6g/t gold and 332g/t silver from 226m down-hole. It was hiding within a spectacular intercept of 42m @ 14.1% zinc, 8.4% lead, 5.7g/t gold, 245g/t silver, 1.4% copper and 34% barite from 222m at the Rupice prospect in Bosnia.

Surefire Resources has generated high grade magnetic concentrates going up to 1.46% vanadium pentoxide from simple crushing and magnetic separation metallurgical test work on fresh vanadiferous magnetite ore composites from its Unaly Hill project near Sandstone in WA. The company said the testing also successfully rejected most of the waste silica, alumina and calcium content, whilst upgrading the iron and valuable titania content of the ore composite samples.

Conglomerate gold developer Novo Resources has outlined an aggressive exploration program for its emerging Egina gold project, located near Port Hedland in the Pilbara region of WA. Over the coming months the company plans to undertake systematic bulk sampling of gold-bearing lag gravels at the project. The company will also complete ground surveying, trench mapping, regional geological mapping and conduct wide-spaced alluvial soil sampling for fine gold occurrences.

Calima Energy has contracted Precision Drilling’s Rig 379 to carry out its three well program in the Montney oil and gas play in British Columbia, Canada with drilling to get underway as soon as December. The first well to be drilled will be a vertical well to provide data and samples for measurement and analysis followed by two horizontal wells that will be fracture stimulated.

Coolgardie Minerals has swung into production near Coolgardie just a couple of months after listing on the ASX. First ores were extracted at a respectable gold grade of 3.5 grams per tonne from the company’s Geko gold mine. Mined ore will be stockpiled and then sold to Northern Star’s South Kalgoorlie operation at AUD$1650 an ounce where it will be processed.