Brightstar Resources (BTR:AU) has announced RIU Explorers Conference – Presentation
Download the PDF here.
This post appeared first on investingnews.com
A deadly mine collapse in Western Mali’s Kayes region has left at least 40 people dead.
The BBC reported that the accident occurred on Saturday (February 15) near the towns of Kéniéba and Dabia, areas known for their rich gold deposits, but also notorious for informal, unregulated mining.
This disaster marks the second fatal mining accident in the country in just three weeks.
The victims were reportedly scavenging in open-pit mines left by industrial miners when the ground caved in. These informal miners, driven by economic hardship, often seek remnants of gold in unstable abandoned mine shafts.
Rescue teams have retrieved many of the bodies, though reports from local authorities continued to vary as of the time of this writing on Monday (February 17), with some sources reporting as many as 48 deaths.
The tragic incident comes as Mali struggles to manage its mining industry and regulate informal operations.
Despite being one of Africa’s largest gold producers, the country is facing significant safety challenges due to inadequate oversight and unsafe mining practices — the result of poverty in local communities. Just weeks ago, at least 10 people were killed in a separate mining disaster when a tunnel flooded in the central region of Mali.
At the same time, the country’s formal mining industry is grappling with changing government regulations.
Mali’s military-led government is currently in a dispute with Barrick Gold (TSX:ABX,NYSE:GOLD), one of the country’s largest foreign investors. In January, Barrick’s Loulo-Gounkoto mine was placed under a temporary suspension after the Malian government blocked gold shipments and seized 3 metric tons of gold worth approximately US$245 million.
The Malian government is seeking to increase its share of revenue from foreign mining operations, a stance that has drawn criticism from companies like Barrick and has led to tensions between the Canadian firm and the government.
Barrick has stated that it will resume operations at Loulo-Gounkoto once the shipment ban is lifted, but the political environment in Mali continues to create uncertainty for foreign investors.
Barrick’s CEO, Mark Bristow, has been outspoken about how the dispute is affecting the company’s operations, noting that Barrick has paid substantial taxes to the government in recent years, including US$460 million in 2024 alone.
The collapse in Kayes, which occurred at an abandoned site once operated by a Chinese company, also brings attention to the role of foreign investors in Mali’s mining sector.
China has been a major player in developing Mali’s resources, particularly gold, and companies from the country have faced criticism for their environmental practices and labor conditions.
While Chinese investments have improved infrastructure, including roads and transportation, concerns over environmental impact and the level of oversight remain.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce the results from the application of Artificial Intelligence (AI) algorithms to generate and predict gold targets within the Company’s Music Well project.
SensOre consultants have applied artificial intelligence (AI), machine learning (ML) and other processing techniques using both public and proprietary datasets over the Music Well Project.
- Cutting edge AI/ML algorithms targeting areas with minimal outcrop or under cover.
- Integration of geological, geochemical and geophysical data sets into the AI process to define digital mineralisation fingerprints and generate AI-enhanced gold discovery predictions.
- The AI SensOre study concluded that “Application of ML algorithms were found to model +1m oz Au potential with a high degree of predictability, and a total of 18 targets were identified within the Music Well project”:
- Target 1 has the highest priority and is in the central north of the project with a strike length of 8km.
- Target 1 trends NNW parallel to the general geological fabric as well as being intersected by several WNW trending cross structures.
- Target 2 is located 4km east of the Wonder Deeps mine of Northern Star and is adjacent to a parallel WNW trending structure hosting Vault Minerals Great Western mine.
- Target 2 is 1.4km in strike and 800m wide.
- No historic drilling has been recorded at any of the target areas, highlighting the underexplored nature of the Music Well project.
- Next Steps
- Geological mapping and sampling over these new targets are scheduled for the next two weeks to gain further insight into the new targets.
- Results from the January rock chip sampling program are expected shortly.
Andrew Ford, GM Exploration
“The work by SensOre has focussed our attention from areas of outcrop, toward regional targets which are obscured in many cases by thin cover and sheetwash. By applying groundbreaking technologies such as artificial intelligence has enabled the rapid prioritization of multiple targets. The definition of targets reflecting a specific geophysical and geochemical response which also focuses on key mineralised structural trends provides encouragement as to the robust nature of the targeting process”.
Background:
Augustus Minerals Limited( ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.
Music Well comprises ten exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).
The outstanding gold endowment of the Leonora-Laverton District of >28M ounces3 is illustrated by the numerous operating gold mines including the Darlot Gold Mine (~12km to the north), the King of the Hills Mine (~20km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20km to the west).
AI Enhanced Gold Exploration
The Company commenced a gold targeting exercise with SensOre_X Pty Ltd (SensOre) in November 2024, using their Artificial Intelligence (AI) and Machine Learning (ML) technologies to allow predictive analytics to generate targets for discovery of gold systems at the Music Well project.
SensOre is an industry leading technology services provider of AI/ML applications to the minerals exploration and mining industry. SensOre’s technologies have been developed over many years and involve the application of new computer assisted statistical approaches and ML techniques across the mineral cycle to provide the next generation of exploration discoveries. SensOre aims to become the top global minerals targeting company through deployment of big data, AI/ML technologies and geoscience expertise.
The Company committed to this new technological approach to gold exploration at Music Well to reinforce the existing generative exploration undertaken by the Company and deliver new “out of the box” targets for gold mineralisation over the project area, which has minimal historic exploration and limited outcrop.
In addition, the Company has inherited a large and impressive database of geological, geochemical, and geophysical information since acquiring Music Well Gold Mines Pty Ltd in late 2024. Having a variety of good quality datasets is considered a key attribute for the application of the AI/ML technology to accelerate the discovery process. The data layers used in the AI/ML processing include results from 2,478 Ultra fine fraction soil samples, 18,042 soil samples and 155 rock chip samples, in addition to detailed aeromagnetic and gravity data.
The Music Well project is contained within an area of influence (AOI) where a “data cube” was constructed covering the four 100k scale regional map sheets containing 80m x 80m cells. This data cube contains 1,440,000 cells x 1,618 variables where the AI/ML technology was applied.
The application of the machine learning approach applied by SensOre to the database of geochemical, geological and geophysical information compiled over the Company’s AOI has demonstrated the highly gold prospective nature of the Music Well project. Application of the machine learning algorithms modelled the probability of gold systems within the AOI and more specifically the Music Well project. This required 107 variables for discrimination that were applied to the 80m by 80m cells within the AOI.
Click here for the full ASX Release
This post appeared first on investingnews.com
Cobalt is a critical material for the energy transition, with increased demand in recent years due to its essential role in lithium-ion batteries for electric vehicles (EVs), energy storage and other technologies.
Cobalt is an important component in the popular nickel-manganese-cobalt (NMC) battery. Despite the existence of cobalt-free lithium-iron-phosphate (LFP) batteries and the potential for disruptive new battery technologies, demand for cobalt is expected to rise and market watchers are keen to find out where it may be mined in the future.
That’s why it’s important to review cobalt reserves, which is how much economically mineable cobalt a country holds. By keeping an eye on these numbers, it’s possible to guess which countries may become — or continue to be — cobalt powerhouses.
The Democratic Republic of the Congo (DRC) is the leader in cobalt output, producing nearly two-thirds of the world’s cobalt. However, the dominance of Chinese refining and processing — estimated at 75 percent of global capacity — poses challenges for Western nations, particularly the European Union (EU), which is striving for strategic autonomy in critical minerals.
Efforts like the 2023 EU Battery Regulation aim to address these issues by mandating recycled material targets for batteries, but the path to reducing dependency on China remains complex.
In recent years cobalt production globally has reached record highs, creating a large supply glut. This cobalt surplus underscores a paradox in the market: while demand for the metal is forecast to grow significantly, oversupply has caused prices to plummet. The surge in production, largely fueled by the DRC’s expanding output and China’s vertically integrated supply chain, has led to a market imbalance.
Despite these hurdles, market watchers remain optimistic about cobalt’s long-term outlook, driven by continued demand for EVs and energy storage.
Top cobalt reserves by country
Understanding cobalt reserves and identifying key production regions is crucial for investors and industry stakeholders. Here’s an updated look at cobalt reserves by country using the latest data from the US Geological Survey.
1. Democratic Republic of the Congo
Cobalt reserves: 6,000,000 metric tons
The Democratic Republic of the Congo is the country with the largest cobalt reserves by far, with 6,000,000 metric tons of the battery metal in the ground. The world’s largest cobalt producer continues to maintain its spot at the top of the rankings, producing over 70 percent of the global cobalt supply and influencing the whole EV battery industry.
With this stature comes the DRC’s share of both internal and external turmoil. Cobalt mining in the DRC has been linked to human rights abuses and child labor due to widespread unregulated artisanal mining, which remains a key livelihood for many.
Efforts to regulate the sector include the ASM Cobalt Standard, approved in 2022, with pilot site assessments underway in collaboration with the Responsible Minerals Initiative and Global Battery Alliance.
Many of the DRC’s regulated cobalt mines are joint ventures between foreign companies, such as Swiss mining giant Glencore (LSE:GLEN,OTC Pink:GLCNF), and the country’s state-owned mining companies. China’s role in the DRC’s mining industry continues to grow, as many of the cobalt mines in the DRC are joint ventures with Chinese companies. Much of this cobalt is processed in China, with the country processing 65 percent of all cobalt worldwide, diminishing the DRC’s agency over its minerals.
2. Australia
Cobalt reserves: 1,700,000 metric tons
Australia retains its position as the second-largest holder of global cobalt reserves, with an estimated 1.7 million metric tons, accounting for about 15.5 percent of the world’s total.
Despite contributing only 2 percent of global cobalt production, the country is emerging as a key player, bolstered by ethical and environmentally sustainable mining practices that stand in contrast to the DRC.
Ardea Resources (ASX:ARL) is leading the charge with its Kalgoorlie nickel-cobalt project, described as the largest nickel-cobalt resource in the developed world. Located in Western Australia, the Goongarrie Hub deposit, part of this project, has proven reserves to support a 40 year mining operation, with annual production targets of 2,000 metric tons of cobalt and 30,000 metric tons of nickel.
Cobalt Blue Holdings (ASX:COB), another prominent player, is spearheading the Broken Hill cobalt mine and Kwinana refinery. The refinery is planned to produce battery-grade cobalt sulfate from third party feedstock and cobalt from Broken Hill. Despite the ongoing slump in cobalt prices, the company is strategically positioning itself to align with US and European policies aimed at reducing reliance on China.
3. Indonesia
Cobalt reserves: 640,000 metric tons
Indonesia holds 640,000 metric tons of cobalt reserves and has rapidly ascended as a significant cobalt producer. In just three years, the nation increased its cobalt production over tenfold, reaching 28,000 metric tons in 2024, up from only 2,700 metric tons in 2021.
This growth is primarily driven by Chinese-backed investments in high-pressure acid leach (HPAL) facilities, established after Indonesia banned nickel ore exports in 2019 to bolster its domestic EV supply chain. Key players in Indonesia’s cobalt sector operate four HPAL facilities, which process nickel laterite ore into mixed hydroxide precipitate, containing both nickel and cobalt.
However, HPAL methods have drawn criticism for their environmental impact, producing high emissions and waste and raising worker safety concerns. Fatal accidents and worker protests over conditions have been reported, prompting calls for improved standards. In response, in 2023, then-President Joko Widodo committed to stricter environmental regulations, including banning the dumping of tailings into the sea and mandating renewable energy for new smelters.
New President Prabowo Subianto created a task force to focus on domestic investment in downstream nickel processing, which is currently about 75 percent controlled by Chinese firms.
Indonesia’s trajectory as a cobalt supplier could diversify global markets. By 2030, Indonesia’s cobalt production could constitute 16 percent of global output, according to the Cobalt Institute.
More cobalt reserves by country
The DRC, Australia and Indonesia have the highest cobalt reserves, but many other countries also hold significant cobalt reserves. Here’s a quick look at where other nations stand:
- Cuba — 500,000 MT
- Philippines — 260,000 MT
- Russia — 250,000 MT
- Canada — 220,000 MT
- Madagascar — 100,000 MT
- Turkey — 91,000 MT
- United States — 70,000 MT
- Papua New Guinea — 62,000 MT
According to the US Geological Survey, the total world reserves figure for cobalt sits at 11,000,000 MT.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
(TheNewswire)
TORONTO, ON TheNewswire – FEBRUARY 18, 2025 Silver Crown Royalties Inc. ( ‘Silver Crown’ ‘SCRi’ the ‘Corporation’ or the ‘Company’ ) is pleased to provide an update on its non-brokered offering (the ‘ Offering ‘) of units (‘ Units ‘) for gross proceeds of up to C$3,000,000 that was previously announced on February 6, 2025.
The Company is amending the terms of the Offering so that each Unit will be priced at C$6.50 ( ‘New Offering’ ) and will now issue up to 461,538 Units for gross proceeds of C$3,000,000. Each New Unit will consist of one common share (‘ Common Share ‘) and one common share purchase warrant (‘ Warrant ‘). Each Warrant will be exercisable to acquire one (1) additional New Common Share at an exercise price of C$13.00 for a period of three years from the date of the closing of the New Offering (the ‘ Expiry Date ‘).
Proceeds of the New Offering will be used to fund the second tranche of its silver royalty acquisition on the Igor 4 project in Peru as well as a general and administrative expenses of SCRi. All securities issued pursuant to the New Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. Closing of the New Offering will be subject to customary conditions precedent, including the prior approval of Cboe Canada Inc.
Peter Bures, Silver Crown’s Chief Executive Officer commented, ‘As we continue our outreach during the course of the financing, we have received a substantial level of interest at these revised terms. We continue to build the book and expect it to be fully subscribed in a timely manner. The additional funds will allow us to close the second tranche of the PPX royalty transaction and bulk up our balance sheet for additional smaller transactions.’
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, SCRi is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.
For further information, please contact:
Silver Crown Royalties Inc.
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include but are not limited to: proceeds of the Offering will be used to fund the Second Tranche as well as a general and administrative expenses of SCRi; all securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation; closing of the Offering will be subject to customary conditions precedent, including the prior approval of Cboe; ‘We continue to build the book and expect it to be fully subscribed in a timely manner. The additional funds will allow us to close the second tranche of the PPX royalty transaction and bulk up our balance sheet for additional smaller transactions.’ Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
This post appeared first on investingnews.com
Castle Minerals Limited (“Castle” or the “Company”) advises that a recently completed eight-hole, 1,106m RC drill programme at its Kpali Gold Prospect in Ghana’s Upper West Region (“Project”, “Kpali”) has intersected mineralisation in all holes including 12m at 8.29g/t Au from 25m including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in an interpreted ‘hangingwall’ lode and then 4m at 4.16g/t Au from 95m in a lower “footwall” lode (24KPRC010).
- Extremely strong gold intercepts from eight-hole RC drilling programme at Kpali Gold Prospect in Ghana’s Upper West Region.
- All eight holes intersected shallow mineralisation with better intercepts including:
- 12m at 8.29g/t Au from 25m (24KPRC010) incl.
- 6m at 11.60g/t Au from 31m and
- a peak 1m intercept of 20.43g/t Au at 36m and
- 4m at 4.16g/t Au from 95m.
- 7m at 2.23g/t Au from 35m (24KPRC011) incl.
- 4m at 3.23g/t Au from 35m and
- 11m at 2.24g/t Au from 50m incl.
- 1m at 8.29g/t Au from 57m.
- 5m at 3.66 g/t Au from 78m (24KPRC012) incl.
- 2m at 7.09g/t Au 79m.
- 13m at 1.58g/t Au from 73m (24KPRC014) incl.
- 1m at 5.62g/t Au from 79m.
- 1m at 8.35g/t Au from 5m (24KPRC015) and
- 9m at 4.81g/t Au from 107m incl.
- 2m at 8.75g/t Au from 109m.
- 1m at 6.64g/t Au from 70m (24KPRC016).
- 7m at 1.67g/t Au from 39m (24KPRC017) and
- 3m at 3.08g/t Au from 78m.
- 12m at 8.29g/t Au from 25m (24KPRC010) incl.
- Status of Kpali Gold Prospect considerably upgraded.
- Broader district containing several other high conviction prospects confirmed as an emerging new exploration frontier.
- Next drilling programme to comprise step-out drilling at Kpali Gold Prospect and testing of other prospects including equally prospective Bundi discovery.
- Results hot on heels of recent Kandia “4000 Zone” RC programme that confirmed good gold continuity and returned strong intercepts including:
- 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m (24KARC002) and
- 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m (24KARC004).
- Immediate high-level objective is to confirm robust new West African mining camps at Kpali and Kandia and an initial 1.0Moz Au multi-prospect based mineral resource.
Castle Executive Chairman, Stephen Stone, commented “The Kpali Gold Prospect is developing into a robust discovery and is a strong indicator that we may be dealing with a new West African gold mining camp in Ghana’s emerging northern region.
The latest intercepts include some very decent widths and grades at shallow depths with good continuity which can have considerable positive impacts should mining be considered.
We have intersected a very impressive 12m at 8.29g/t Au from 25m, including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in a ‘hangingwall’ lode, and also 4m at 4.16g/t Au from 95m in a lower ‘footwall’ lode.
Apart from these standout results, very strong mineralisation has been encountered within most holes drilled, implying that with additional drilling we may be able to delineate a decent high value deposit.
We are very keen to get back drilling and to extend the Kpali Gold Prospect discovery as well as to follow-up historical drilling at the nearby Bundi discovery, 4km north.
There are also several other enticing prospects in the broader Kpali Gold Project area.
These drilling results follow excellent recent results from four holes at the Kandia Prospect, a second and separate gold discovery associated with a relatively under- explored 16km prospective contact between Birimian metasediments and a granite intrusion. Recent intercepts at Kandia included 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m and 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m.
These deposits lie in a classic setting for major gold deposits in West Africa and in particular northern Ghana which hosts the Cardinal Resources 5.1Moz gold Namdini deposit and the Azumah Resources 2.8Moz gold Black Volta Gold Project. The latter’s high-grade Julie deposit is immediately along strike from Kandia.
West Africa is where big gold discoveries can be and are still being made. With the gold price now at a level I could only dream of when starting my career, it’s the perfect time to be exploring Castle’s two new discoveries in the very stable, safe and mining friendly jurisdiction of Ghana.”
Additional intercepts included 7m at 2.23g/t Au from 35m(24KPRC011) including 11m at 2.24g/t Au from 50m, 5m at 3.6g/t Au from 78m (24KPRC012), 9m at 4.81g/t Au from 107m (24KPRC015) and 3m at 3.08g/t Au from 78m (KPRC017).
These results confirm the Kpali Gold Prospect, just one of several prospects within the broader Kpali Gold Project, as a robust discovery in a completely new district within Ghana’s emerging Northern Region exploration frontier.
With several other high conviction prospects yet to be evaluated in the area, including the nearby Bundi, Kpali East, Wa South East and Wa South West prospects, there appears to be present all the hallmarks of a new West African mining camp and the possibility of a considerable gold endowment.
The Kpali Gold Prospect lies within a mineralised corridor associated with a 30m to 50m wide zone of structural deformation immediately west of a granite intrusion. Three drilling programmes have identified near-surface, shallow plunging high-grade lode-style mineralisation to a depth of at least 100m. Multiple, closely-spaced mineralised lodes have been identified over at least 650m strike.
Overall, the geological setting at the broader Kpali Gold Project is of typically structurally-controlled, orogenic style mineralisation within Birimian terrane. This is a similar setting as that hosting several world- class gold mining operations in Ghana and West Africa generally. Orebodies with these characteristics can often extend to considerable depth.
Click here for the full ASX Release
This post appeared first on investingnews.com
Lithium Universe (LU7:AU) has announced Becancour Lithium Refinery Definitive Feasibility Study
Download the PDF here.
This post appeared first on investingnews.com
International Graphite (IG6:AU) has announced Japanese testwork achieves top results
Download the PDF here.
This post appeared first on investingnews.com
Brightstar Resources (BTR:AU) has announced Excellent 90% recoveries at Cork Tree Well & Board Update
Download the PDF here.
This post appeared first on investingnews.com
The Board of Inca Minerals Limited (ASX: ICG) (Inca or the Company) is pleased to provide shareholders a progress report on due diligence associated with the recently announced (ASX 5 February 2025) Binding Implementation Agreement to acquire Stunalara Metals Limited (Stunalara) via an off market takeover bid. Stunalara’s key asset is the high-grade gold & gold- antimony Hurricane Project located approximately 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland. Hurricane boasts multiple undrilled high-grade gold & gold-antimony prospects developed from rock chip and grab sampling.
Inca’s technical team recently conducted a site visit as part of the due diligence process to confirm and replicate historical geochemical data, culminating with the collection and dispatch for assaying of 84 rock chip samples. Assays have now been received for those samples with exceptional results recorded for gold (Au) and antimony (Sb) at multiple prospects including Holmes, Cyclone, Tornado, Hurricane and Bouncer confirming the high-grade prospectivity of the Hurricane Project.
Assay Highlights (Refer to table 1, Appendix 1 for full results)
Assays with gold greater than 5g/t:
- Hurricane South – Sample MC0374: 81.5g/t Au
- Hurricane North – Sample MC0368: 12.95g/t Au
- Hurricane South – Sample MC0379: 11.9g/t Au
- Bouncer – Sample HRX10042: 8.29g/t Au and 12.7% Sb.
- Typhoon – Sample HRX10055: 7.84g/t Au
- Holmes – Sample HRX10083: 6.4g/t Au
- Holmes – Sample MC0392: 6g/t Au
- 2 other samples returned gold greater than 4g/t, three with grades over 3g/t and 12 with grades over 1g/t.
Highly anomalous levels of Antimony (Sb) were also recorded, which included:
- Bouncer – Sample HRX10029 with 35.1% Sb
- Bouncer – Sample HRX10036: 20.8% Sb
- Bouncer – Sample HRX10042: 12.75% Sb
- Bouncer – Sample HRX10037: 9.54% Sb
- Bouncer – Sample HRX10033: 7.78% Sb
- Holmes – Sample MC0393: 5.28% Sb, and
- Holmes – Sample MC0398: 4.89% Sb
29 samples returned highly anomalous arsenic values > 0.1% (>1000ppm As, up to 9840ppm in 1 sample).
“The identification of high-grade gold and antimony in rock chips across different locations which have never been drilled, highlights the significant exploration potential of the Hurricane Project for the discovery of gold and antimony. Inca Minerals is looking forward to progressing follow-up exploration programs to build on this significant rock chip data,” said Inca Exploration Manager, Dr Emmanuel Wembenyui.
In addition to gold, the Hurricane Project results include high levels (up to 35%) of antimony, a critical and new economy metal. Antimony is listed as a critical mineral by the United States, the European Union, Japan, India, the United Kingdom and the Commonwealth of Austalia. New economy metals are pivotal for modern technologies, economies and national security, providing direct support for technologies that are paving the way to the transition from fossil fuels to net zero emmisions , advanced manufacturing and defence technologies/capabilities amongst other applications.
HURRICANE PROJECT
Inca is pleased to report highly encouraging results from a geological reconnaissance field trip to the gold and antimony Hurricane Project. The Hurricane Project is located about 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland, Figure 1.
The Hurricane Project comprises three tenements – EPM 19437, which hosts the Holmes, Porphyry, Monsoon and Cyclone prospects, EPM 25855 in which are located the Hurricane and Tornado Prospects, and EPM 27518, which hosts the Bouncer prospect, Figure 1.
Geology of the Hurricane Project Regional Geology
The Hurricane Project area falls within the Mossman 1:250,000 and the Mount Mulligan 1:100,000 Queensland Geological map sheets. The regional geology traverses a wide Geological Timescale from the Devonian in the Hodgkinson Formation through granodiorite and rhyolitic Carboniferous and Permian intrusions to Triassic and Quaternary Sandstones. The Hodgkinson Formation comprises dark grey to greenish, fine to medium quartz greywackes interbedded with siltstones, mudstones and conglomerates. The Carboniferous to Permian granitic/granodiorite and rhyolite intrusions comprise a suite of felsic porphyritic intrusions. The main porphyritic bodies comprise medium to coarse-grained mineral crystals including euhedral hornblende- biotite, k-feldspar and quartz, which locally grade into fine-grained silicified granites.
Local Geology
The three tenements which make up the Hurricane Project are structurally set within two major NW-SE trending faults, being the Hurricane Fault and the Retina Fault. The Hodgkinson Formation dominates these tenements and comprises of tightly folded greywackes, siltstones, shales, cherts, conglomerates and limestones. Locally within the Hurricane Project are 2 felsic intrusions, which occur in EPM 19437 and are predominantly porphyritic granites. These intrusions are the major source of heat, which mobilised hydrothermal fluids to interact with surrounding country rock, leading to widespread alteration in the form of silicification, sericite and carbonates, and account for the deposition of epithermal gold, silver, and antimony mineralised veins. Epithermal gold deposits are strongly associated with hydrothermal fluids that are related to calc-alkaline volcanism and magmatism. Plots of La-Y-Nb on the ternary diagram of Cabanis and Lecolle, 1989; shows that the Hurricane Project falls within the Arc Calc-Alkaline geo-tectonic setting, supporting an epithermal exploration model for the project (Figure 2). Epithermal gold could be low or high sulfidation, depending on mineralogy and can occur as veins, stockworks, replacements or disseminations. Mineralisation within the project area is associated with variably altered, silicified and brecciated quartz veins ranging in widths from 2 to >50m and lengths over 700m. The mineralogy of the Hurricane Project which includes gold, antimony, silver, very limited sulphur, +/- lead and zinc, leans towards the low sulfidation model.
Click here for the full ASX Release
This post appeared first on investingnews.com