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Exploration News

How Spanish immersion placed resource hunter Aurania on trail of Ecuador’s ‘lost cities’

By: Henry Lazenby     30th March 2017 Junior explorer Aurania Resources is hot in pursuit of finding the last two of seven ‘lost cities’ in Ecuador abandoned by he Spanish conquistadors centuries ago. With the Toronto-headquartered company on the cusp of closing a C$6-million financing led by Maison Placements Canada and Red Cloud... 

Argentina Lithium investigates Arizaro project for lithium-rich brines

By: Henry Lazenby     30th March 2017 In the hope of capitalising on the growing demand for and rising prices of lithium, explorer Argentina Lithium & Energy is mobilising equipment to create access routes on the 20 500 ha Arizaro property, located in the middle of South American’s prolific lithium triangle that is home to over 70%... 

Argentina Lithium investigates Arizaro project for lithium-rich brines
Photo by Argentina Lithium & Energy
Argentina Lithium & Energy is currently mobilising equipment to create access routes on the 20 500 ha Arizaro property, Argentina

Wesizwe completes platinum shaft development

By: Martin Creamer     30th March 2017 JOHANNESBURG (miningweekly.com) – China-controlled South African mining company Wesizwe Platinum said on Thursday that it had completed 779 m of service shaft development in the 12 months to December 31. The Johannesburg Stock Exchange-listed company, with R455-million cash on hand as at... 

Wesizwe completes platinum shaft development

Armadale starts graphite exploration programme at Tanzania mine

By: Megan van Wyngaardt     29th March 2017 An exploration programme at dual-listed Armadale Capital’s Mahenge Liandu graphite project in Tanzania, aimed at upgrading its resource estimate, has kicked off. The project currently has an existing Joint Ore Reserves Committee-compliant inferred mineral resource estimate of 40.9-million tonnes... 

Metals Australia buys into Canadian cobalt

By: Esmarie Swanepoel     29th March 2017 ASX-listed explorer Metals Australia has struck a deal to acquire the Lac du Marcheur cobalt project, in Quebec, while also raising A$2.45-million through a private share placement. Under the acquisition agreement, Metals Australia has a 15-day period to conduct a due diligence on the Lac du... 

Radisson chases potential ‘game-changing’ discovery at high-grade O’Brien project

By: Henry Lazenby     28th March 2017 Following on the heels of a successful 2016 exploration campaign, junior explorer Radisson Mining Resources has doubled its current drill programme to 20 000 m and added a second drill at the O’Brien project, cut by the prospective regional Larder-Lake-Cadillac Fault, in Quebec. Emboldened by... 

Radisson chases potential ‘game-changing’ discovery at high-grade O’Brien project
Photo by Radisson Mining Resources
Radisson observed specks of visible gold at a depth of 533 m in the Piche conglomerate

Goldcorp, Barrick creating another NuevaUnión-like JV at close to discovery cost

By: Henry Lazenby     28th March 2017 Canadian gold majors Goldcorp and Barrick Gold on Tuesday announced a series of transactions that will result in the creation of a new 50:50 joint venture (JV) over a new project located in the Atacama region of Chile, that combines Barrick and Kinross Gold’s Cerro Casale project, with Exeter... 

Goldcorp, Barrick creating another NuevaUnión-like JV at close to discovery cost

Osisko Gold Royalties picks up 0.75% Cariboo NSR from Barkerville

By: Henry Lazenby     27th March 2017 TSX-V-listed Barkerville Gold Mines has sold another 0.75% net smelter return (NSR) royalty on its flagship Cariboo gold project, in central British Columbia, to TSX-listed Osisko Gold Royalties for C$12.5-million in cash. This will take Osisko’s total NSR royalty on the Cariboo project to 2.25%,... 

Avanco sets A$10.6m Brazil exploration budget

By: Esmarie Swanepoel     27th March 2017 The board of ASX-listed junior Avanco Resources has approved a A$10.6-million exploration budget for this year, to focus on its Brazilian projects. “Over the last decade, Avanco has accumulated an exciting portfolio of projects and tenements in the Carajas, a premier mineral province for the... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Revised mine plan, updated reserves extend life of Shanta’s New Luika mine

By: Mia Breytenbach     24th March 2017 Aim-listed Shanta Gold has announced a revised mine plan for its New Luika gold mine, in Tanzania, for January 2017 to December 2023, as well as an updated reserve plan for the mine. The revised mine plan is expected to result in a 39% increase in forecast gold production for 2017 to 2023, from... 

First Bougouni drilling assays ‘highly encouraging’

     24th March 2017 West-Africa-focused mineral exploration and development company Kodal Minerals has a busy exploration programme planned for the months ahead, with a focus on its lithium projects at Bougouni, in Mali.  CEO Bernard Aylward said in February that the company would return to drill its Ngoualana... 

First Bougouni drilling  assays ‘highly encouraging’
Photo by Bloomberg
DRILLING DEVELOPMENTS As of February, a total of 328 samples had been received, with regard to the first drilling assays at the Bougouni lithium project, in Mali, with a further 400 samples pending

Excellon reports Q4 loss despite lifting output while fighting water ingress

By: Henry Lazenby     23rd March 2017 Mexico’s highest-grade silver miner Excellon Resources has narrowed its loss for the three months ended December 31, while lifting silver-equivalent output 20%. The Toronto-headquartered company recorded a net loss of $55 000, compared with a net loss of $1.7-million in the comparable period of... 

Excellon reports Q4 loss despite lifting output while fighting water ingress
Photo by Excellon Resources
Platosa ore, Mexico

Ram raises funds for Irish exploration

By: Esmarie Swanepoel     23rd March 2017 ASX-listed junior Ram Resources is hoping to raise A$3.5-million through a share placement to advance its Keel zinc project, in Ireland. The company on Thursday said it would issue some 70-million shares, at a price of 5c each, to sophisticated and institutional investors. 

Master Drilling boasts strong order book 

By: Megan van Wyngaardt     22nd March 2017 The launch of new projects in the Democratic Republic of Congo, Sierra Leone and Tanzania, paired with increased investment in human resources, has resulted in a 12.1% drop in JSE-listed Master Drilling’s gross profit to $23.5-million for the 2016 financial year. However, the company noted that... 

Master Drilling boasts strong order book
Master Drilling CEO Danie Pretorius speaks on the company's prospects. Video and editing: Nicholas Boyd. 22/03/2017

Cassini hopes to cash in on cobalt highs

By: Esmarie Swanepoel     22nd March 2017 Junior Cassini Resources has told shareholders that an updated scoping study on its West Musgrave joint venture (JV), in Western Australia, will take the rising cobalt prices into consideration. Responding to shareholder queries, Cassini on Wednesday said the company had initiated a review of the... 

Pioneer reports caesium resource at Dome

By: Esmarie Swanepoel     22nd March 2017 The Sinclair caesium zone, within the Dome lithium-caesium-tantalum project, in Western Australia, has been estimated to host some 10 500 t of caesium ore with a grade of 17.1% caesium oxide. Owner Pioneer Resources has told shareholders that the mineral resource was defined following 22 reverse... 

Africa’s biggest copper find keeps giving as Ivanhoe hits mineralisation 3.8 km west of Kakula

By: Henry Lazenby     22nd March 2017 The TSX-listed stock of Africa-focused explorer Ivanhoe Mining on Tuesday rose 12% after it announced that it had encountered more shallow, high-grade mineralisation at Africa’s largest copper deposit ever – the Kamoa-Kakula copper discovery, in the Democratic Republic of Congo (DRC). A new hole... 

Vital raises A$5m to advance Burkina Faso exploration

By: Esmarie Swanepoel     21st March 2017 Metals developer Vital Metals will raise A$5-million through a share placement to accelerate gold exploration in Burkina Faso. The junior told shareholders on Tuesday that some 400-million new shares would be issued, at a price of 1.25c each, to professional and sophisticated investors. 

Argonaut drilling returns more low-grade ore, potential to extend mine life

By: Henry Lazenby     20th March 2017 TSX-listed Argonaut Gold has completed a 22-hole reverse-circulation (RC) drill programme totalling 5 139 m at the La Colorada mine in Sonora, Mexico, increasing the potential to expand the El Creston openpit beyond its current design. The drilling tested the down-dip extension of the open El... 

Kidman signs earn-in over 19 tenements near Earl Grey deposit

By: Esmarie Swanepoel     20th March 2017 Junior Kidman Resources has signed an earn-in agreement with fellow-listed nickel miner Western Areas over 19 tenements adjacent to its Earl Grey lithium deposit, in Western Australia. Under the terms of the agreement, Kidman could earn a 50% interest in the lithium rights of the project area by... 

Mod raises funds for T3 exploration

By: Esmarie Swanepoel     17th March 2017 Metals explorer Mod Resources has raised A$14.6-million through a share placement to professional and sophisticated investors. The ASX-listed company on Friday said some 235.4-million fully paid ordinary shares would be placed at a price of 6.2c each to raise the funds, with the placement still... 

AuRico gets federal enviro nod for multimillion-ounce Kemess project

By: Henry Lazenby     17th March 2017 Precious metals royalties firm and project developer AuRico Metals has received a positive decision statement from the Canadian Environmental Assessment Agency (CEAA), prompting the British Columbia Environmental Assessment Office (EAO) to grant an environmental-assessment certificate for the... 

Wealth Minerals files technical report that will guide Atacama lithium exploration

By: Henry Lazenby     17th March 2017 Vancouver-based lithium exploration junior Wealth Minerals has filed a Canadian National Instrument 43-101-compliant technical report with securities regulators that will guide a two-pronged exploration campaign at the company’s Atacama lithium project, in Chile. To test the exploration potential... 

Commodities supply shortfall looming following years of underinvestment

By: Ilan Solomons     17th March 2017 Several years of little or no investment in exploring for and developing new mining projects has resulted in the emergence of an impending commodity supply cliff in a number of resource sectors, says professional services firm EY Africa mining and metals transactions leader Quintin Hobbs.... 

Commodities supply shortfall looming following years  of underinvestment
Photo by Duane Daws
SEEKING A CHAMPION More ‘brave companies’ need to emerge, breaking out of the ‘boom or bust mentality’ by pushing their boards to unlock funds for the development of new projects

Fungoni springboard for larger-scale projects

By: Tasneem Bulbulia     17th March 2017 Mineral sands company Strandline Resources intends to use the knowledge and experience gained from the development of its Fungoni heavy mineral sands (HMS) project, in Tanzania, and the operation of an active mineral sands mine to springboard the development of a succession of larger-scale... 

Fungoni springboard  for larger-scale projects
RESOURCE RICH Strandline’s high-grade, zircon-rich Fungoni project has a mineral resources estimate of 16-million tons, grading at 3.1% total heavy minerals

Junior miners under strain as investors increasingly look elsewhere

By: Dylan Slater     17th March 2017 Encouraging investment for junior miners is becoming a persistent issue amid faltering markets and investors are increasingly seeking ways to settle their capital in other markets, stocks and companies that can guarantee their safeguarding and growth.  

Junior miners under strain as investors increasingly look elsewhere

Mineral sands merger to facilitate next phase of growth

     17th March 2017 The merger between mineral sands resources companies Sierra Rutile and Iluka demonstrates that Sierra Leone is open for business and able to attract investment from high-profile multinational companies that are keen to participate in the development and growth of the country, says former Sierra... 

Mineral sands merger to facilitate next  phase of growth
PROGRESSING OPERATIONS Iluka expects to invest about $60-million over the next two years to expand on recent improvements to Sierra Rutile’s operations

Sonic drilling represents untapped potential for mining

By: Tasneem Bulbulia     17th March 2017 There is huge scope in the future for the adoption of sonic drilling by mining companies in South Africa, which heavy minerals mining companies can capitalise on, says exploration drilling industry training course provider Colin Rice Exploration & Training founder Colin Rice. Local use of sonic... 

Sonic drilling represents untapped potential for mining
Photo by Bloomberg
ENHANCED EXPLORATION The high penetration rates of sonic drilling produce high-quality, accurate core samples

West African explorer targets Ghana gold project

By: Ilan Solomons     17th March 2017 Gold exploration company GoldStone Resources is aiming to focus its resources on developing the company’s flagship Homase-Akrokerri gold project, in Ghana, says CEO Emma Priestley. She says it is her intention to seek funding to carry out the next round of exploration drilling works on the... 

West African explorer targets Ghana gold project
HOMASE-AKROKERRI GOLD PROJECT The project is located in the Ashanti gold belt region of Ghana, which possesses about 70-million ounces of gold reserves

St Barbara takes share in junior explorer

By: Esmarie Swanepoel     16th March 2017 Gold miner St Barbara has taken a 5% stake in junior Catalyst Metals through a A$1.5-million investment. Catalyst on Thursday announced that three-million ordinary shares, priced at 50c each, had been issued to St Barbara under the subscription agreement. 

Breakthrough holmium data storage solution piques Matamec’s interest

By: Henry Lazenby     15th March 2017 Montreal-based rare earths project developer Matamec Explorations is excited about a breakthrough discovery by a team of nanoscience researchers, mainly from IBM’s Almaden Research Centre, in San Jose, California, of the ability to store one bit (1b) of data on a single holmium atom. The... 

Flemington proves up for Australian Mines

By: Esmarie Swanepoel     15th March 2017 A scoping study into the Flemington scandium-cobalt project, in New South Wales, estimates the project could deliver an after-tax cash flow of A$677-million over the first 18 years of operation. The operation is expected to produce 50 t scandium oxide from a 100 000 t/y plant, with the mine to... 

Lithium X raises C$15m through bought deal offering

By: Henry Lazenby     15th March 2017 Vancouver-based project developer Lithium X has raised gross proceeds of about C$15-million through a bought deal offering, which it will put to work at its flagship Sal de los Angeles lithium brine project, in Argentina. The junior offered 7.9-million common shares at a price of C$1.90 apiece,... 

Optimism on minerals seen seeping down to grassroots explorers

By: Henry Lazenby     15th March 2017 Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this. “If you look at the... 

Optimism on minerals seen seeping down to grassroots explorers

Sandspring on the hunt for major minerals, partner in Guyana

By: Henry Lazenby     14th March 2017 Canada-listed project developer Sandspring Resources is firming up the resource base at the Toroparu gold project, in Guyana, with the focus on enticing a major partner to join the development of the nearly seven-million-ounce project. “We’ve got the backing of major mining investors such as... 

Sandspring on the hunt for major minerals, partner in Guyana
Photo by Sandspring Resources
Collecting geochemical samples at Sandspring Resources Toroparu project, Guyana

Apollo buys into French project

By: Esmarie Swanepoel     14th March 2017 ASX-listed Apollo Minerals will acquire an 80% interest in the Couflens tungsten-copper-gold project, in southern France. The company has entered into a share sale agreement to acquire Ariege Tungstene, which holds the rights to an 80% interest in the project, for A$250 000 in cash and the issue... 

Silver Wheaton remains a unique offering in uncertain times 

By: Henry Lazenby     13th March 2017 As the tide turns in the resource investment space, a renewed focus on project development sees many juniors looking for cash to fund their project development goals. The world’s largest precious metals streaming firm Silver Wheaton believes it has the answer for the right junior firms: its early... 

Silver Wheaton remains a unique offering in uncertain times
Silver Wheaton president and CEO Randy Smallwood discusses the company's strategy for acquiring metal streams. Video: Henry Lazenby; Editing: Lionel da Silva.

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