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Exploration News

Manica neither complex, capital demanding

     9th June 2017 The Manica gold project’s definitive feasibility study (DFS) results demonstrate a robust, simplistic project with an average gold grade of 2.62 g/t producing 215 293 oz over its seven-year life, says diversified miner Xtract Resources. In the DFS results announcement in February, Xtract... 

Graphite mine advances on back of scoping study

     9th June 2017 The results of a scoping study for a proposed openpit mine and graphite process plant at the Ancuabe graphite project, in north-eastern Mozambique, supports the advancement of feasibility studies on the project, graphite miner Triton Minerals announced last month. 

Graphite mine advances on back of scoping study
PROMISING FINDS Over 92% of the graphite flakes recovered at Ancuabe are larger than 150 µm

Tete steel project BFS near completion

By: Nadine James     9th June 2017 SRK Consulting South Africa, a firm of consulting engineers and scientists, has completed its share of work on the bankable feasibility study (BFS) for the Tete iron-ore mining and steelmaking project, in Mozambique. The BFS for the project, which is expected to start production in the first half... 

Tete steel project  BFS near completion
HENNIE THEART The Tete project has a Joint Ore Reserves Committee-compliant measured resource of 156-million tonnes, grading 36% iron-ore and 13.3% titanium dioxide

Angola, Russia jointly developing new diamond projects and others

By: Keith Campbell     9th June 2017 Angola and Russia have committed themselves to deepening their economic cooperation, not least in the area of mining. This was made clear during the recent visit to the African country by Russian Vice Premier Yury Trutnev. Among others, he held talks with Angolan State Secretary for Geology and... 

Prefeasibility work progresses at Botswana copper/silver project

By: Mia Breytenbach     9th June 2017 Aim-listed Metal Tiger has progressed prefeasibility work at the T3 copper project in Botswana, which it holds in joint venture (JV) with ASX-listed Mod Resources. Key highlights in the work’s progress include the T3 Environmental Management Plan (EMP) that was expected to be lodged, which should... 

Prefeasibility work progresses at Botswana copper/silver project
Photo by Bloomberg
STUDY RESULT According to a scoping study released in December 2016, T3’s average production rate is expected to be 21 800 t/y of copper and 665 000 oz/y a of silver

Pan African’s Elikhulu tailings project to deliver ‘exceptionally’ low cost organic growth

By: David Oliveira     9th June 2017 Focusing on low-cost, high-value organic growth projects has seen South African precious metals miner Pan African Resources prioritise the R1.7-billion Elikhulu tailings retreatment plant (TRP) project at its Evander gold mine, in Mpumalanga, which is expected to produce 689 000 oz of gold at an... 

Pan African’s Elikhulu tailings project to deliver ‘exceptionally’ low cost organic growth

Andiamo Exploration raising funds to explore Eritrea licences

By: Megan van Wyngaardt     8th June 2017 Private UK-based junior miner Andiamo Exploration is seeking to raise $2-million to undertake exploration at its licences, in Eritrea, and continue the development of its mines. Speaking at the Junior Mining Indaba, in Johannesburg, CEO Tim Williams on Thursday said the company, in which mineral... 

Explorer Lionsgold raises cash for India, Finland projects

By: Mariaan Webb     8th June 2017 Aim-listed gold explorer Lionsgold said on Thursday it had undertaken a share placing to raise £550 000 before expenses, which would be used to advance its projects in India and Finland. Lionsgold placed 50-million shares at 1.1p a share, with CEO Cameron Parry, through his family owned trust,... 

Merged Exterra and Anova to have projects in WA and US

By: Esmarie Swanepoel     8th June 2017 Junior Exterra Resources has announced a merger implementation agreement with fellow ASX-listed Anova Metals. Under the terms of the agreement, Anova has agreed to acquire all the issued capital of Exterra, with Exterra shareholders to receive one Anova share for every two Exterra shares held. 

Anglo and Highlands plan more drilling at Star Mountain

By: Esmarie Swanepoel     8th June 2017 Project partners Anglo American and Highlands Pacific will extend the exploration campaign at the Star Mountain copper-gold project, in Papua New Guinea, after encouraging drilling results. The ASX-listed Highlands Pacific said on Thursday that the latest results from the Fune prospect have... 

BlackRock Metals pockets C$40m mine financing by Orion

By: Henry Lazenby     8th June 2017 Private Quebec-focused speciality metals project developer BlackRock Metals has secured C$40-million in equity financing led by Orion Mine Finance Group. The company, which intends to produce low-cost ferrovanadium, high-purity merchant pig iron (MPI) and titanium feedstocks for the US and... 

Denison plans active summer drilling across development portfolio

By: Henry Lazenby     7th June 2017 Uranium development company Denison Mines plans for an active summer of exploration on its flagship Wheeler River project, in northern Saskatchewan’s Athabasca Basin, as well as on other projects in its growth pipeline. The Toronto-headquartered explorer said on Wednesday it plans to undertake up... 

Denison plans active summer drilling across development portfolio

Operating environment remains challenging, despite 2016 improvement for top 40 miners – PwC

By: Ilan Solomons     7th June 2017 The world’s top 40 miners recovered from a “race to the bottom”, with bolstered balance sheets and a return to profitability in 2016, giving them much-needed space to pause and take a breath. This is according to advisory firm PwC’s ‘Mine 2017’ report, which was released on the sidelines of the... 

Operating environment remains challenging, despite 2016 improvement for top 40 miners – PwC
Photo by Duane Daws
Srinivasan Venkatakrishnan’s AngloGold Ashanti is the only South African company to make PwC’s list of the world’s top 40 mining companies

Canavan promises new exploration incentive scheme

By: Esmarie Swanepoel     7th June 2017 Federal Resource Minister Matt Canavan on Wednesday said that the Australian government would work with the resources industry to develop a new exploration incentive scheme to replace the current Exploration Development Incentive (EDI), which was dumped from the federal budget. Speaking at the... 

Canavan promises new exploration incentive scheme

Laconia gets more exploration land in Botswana

By: Esmarie Swanepoel     7th June 2017 Junior explorer Laconia Resources has been granted two new prospecting licences over the Kraaipan West gold/nickel/copper/platinum group metals project, in Botswana. The project area covers some 15 km of the Amalia-Kraaipan greenstone terrane, which is thought to be highly prospective for both... 

Osisko Mining takes first step towards permitting Windfall Lake

By: Henry Lazenby     7th June 2017 Exploration company Osisko Mining has taken the first steps in the environmental approval processes for its cornerstone Windfall Lake project, in Quebec. The TSX-listed company has filed the project description with the federal Canadian Environmental Assessment Agency and the preliminary project... 

Endeavour Silver acquires more Mexican exploration properties

By: Henry Lazenby     7th June 2017 Canadian primary silver producer Endeavour Silver has acquired two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas, in Mexico. All of the properties host old mines and/or known silver/gold veins that were... 

Corvus adds optionality to flagship North Bullfrog through Mother Lode acquisition

By: Henry Lazenby     7th June 2017 Exploration company Corvus Gold has acquired the prospective Mother Lode property, in Nevada, located about 10 km from its flagship North Bullfrog project, adding the potential for a large satellite operation. The company acquired the Mother Lode asset from Goldcorp by issuing one-million shares... 

Strongbow appoints engineering firms for South Crofty water treatment plant design

By: Henry Lazenby     7th June 2017 Canadian project developer Strongbow Exploration has engaged engineering firms Siltbuster Process Solutions (SPS) and Nomenca to undertake process specification and outline design works for a water treatment plant at the company's South Crofty project, in Cornwall, in the UK. The TSX-V-listed... 

Australian exploration down 16% in March quarter

By: Esmarie Swanepoel     6th June 2017 New data by the Australian Bureau of Statistics (ABS) has shown that mineral exploration expenditure, in original terms, fell by 16.2% during the March quarter, to A$337.6-million. Exploration in greenfield deposits fell by 21.4%, or by A$28-million and expenditure on brownfield areas fell by... 

‘Auspicious’ time for M&A, yet difficult to secure capital – mining survey

By: Henry Lazenby     6th June 2017 There is a clear indication that mergers and acquisitions (M&A) activity among smaller players in the mining sector will increase this year, while the majors will increase divestitures to focus on core commodities. This will, in turn, benefit some of the midtiers that are able to make... 

‘Auspicious’ time for M&A, yet difficult to secure capital – mining survey

Positive Pershing PFS renders Relief Canyon project shovel ready

By: Henry Lazenby     6th June 2017 Nevada-focused project developer Pershing Gold has reported the positive results of a preliminary feasibility study (PFS) on its Relief Canyon mine project, recommending that Pershing advance the project to a production decision. Based on a gold price of $1 250/oz of gold and $16.75/oz silver,... 

Asanko DFS outlines two-step expansion in Ghana to become one of Africa’s largest

By: Henry Lazenby     5th June 2017 Canadian junior miner Asanko Gold has published a definitive feasibility study (DFS) on its eponymous Asanko gold mine, in Ghana, outlining a two-stage organic growth plan that will initially raise plant throughput to five-million tonnes a year, before stepping up throughput to ten-million tonnes... 

Leagold focused on delivering catalysts as it looks to expand Los Filos platform

By: Henry Lazenby     3rd June 2017 The focus has turned to delivering on the impending catalysts for newly minted midtier gold producer Leagold Mining, as it assimilates the freshly acquired Mexico-based Los Filos mine and works to enhance and expand the flagship operation. “Los Filos is an ideal cornerstone mine with which to... 

Leagold focused on delivering catalysts as it looks to expand Los Filos platform
Photo by Leagold Mining
Leagold Mining's Los Filos mine, in Mexico

Young bull run kickstarts cyclical mining industry into exploration mode

By: Henry Lazenby     2nd June 2017 With the commodity and equity markets in much better shape than a year ago, mining industry players are navigating the early days of a new bull run with renewed interest in exploration and mergers and acquisitions activity to secure future supplies. While the commodity market is perhaps not... 

Young bull run kickstarts cyclical mining industry into exploration mode
Photo by Resource Maven
Resource Maven newsletter writer Gwen Preston on a mining site visit

Australian gold explorer lists in Frankfurt

By: Creamer Media Reporter      2nd June 2017 Australian gold and manganese explorer Spitfire Minerals has confirmed the listing of its shares on the Frankfurt Stock Exchange. The listing is expected to help increase trading liquidity and to open up potential investment in Spitfire by institutional and retail investors in Germany and... 

Serbia-focused Tethyan plans TSX-V listing

By: Mariaan Webb     2nd June 2017 European gold and base metals explorer Tethyan Resources plans to list its shares on the TSX-V to allow the company access to North American capital markets and to increase share trading liquidity. Nonexecutive chairperson Christopher Gross said on Friday that the risk appetite of investors for... 

Possible mine-life extension vindicates Argonaut drilling south of current El Castillo ops

By: Henry Lazenby     2nd June 2017 TSX-listed Argonaut Gold has returned positive results from a recent 18 530 m reverse circulation campaign to test 146 targets south of the current El Castillo mine, in Mexico. The combined results of the north and south target areas show potential to extend the current El Castillo openpit limits... 

Merger expands value of expo

By: Nica Schreuder     2nd June 2017 This year is the first time Caminex and the Copperbelt Mining Trade Expo and Conference (CBM-TEC) will be held as a combined event from June 6 to 8 at the Kitwe showgrounds, in Zambia, to create a more valuable trade expo by combining the shows’ resources and strengths. From 2018, the exhibition... 

Zambian company seeks multicommodity approach

By: Nica Schreuder     2nd June 2017 Zambian Investment holdings company ZCCM CEO Dr Pius Kasolo has emphasised the importance of the company’s adoption of a multi-commodity approach as part of its resilience, in light of the cyclical nature of commodities. Presenting investment opportunities for potential strategic partners at the... 

Zambian company seeks multicommodity approach
PORTFOLIO DIVERSIFICATION ZCCM, whose portfolio has 90% exposure to copper, aims to tap into new sources of consistent and stable income

Cobalt company to acquire 70% interest in DRC

     2nd June 2017 Cobalt asset group First Cobalt says its transaction with Africa-focused investment and development company Madini Minerals will allow it to firmly establish a presence in one of the richest mining camps in the world. In May, First Cobalt announced that is to become a 70% joint venture partner on... 

Enviro permitting processes for Western Cape uranium project advancing 

By: Mia Breytenbach     2nd June 2017 Uranium project developer Tasman RSA Mines says that draft environmental impact assessment (EIA) and environmental management plan (EMP) reports for the company’s mining right applications Ryst Kuil and Quaggasfontein, which form part of the Karoo uranium mining project, in the Western Cape, will... 

Enviro permitting processes for Western Cape uranium project advancing
PROJECT PROSPECTS Uranium developer Tasman RSA Mines’ mining right applications include Ryst Kuil Quaggasfontein in the Western Cape and Kareepoort in the Eastern Cape

Junior miners seek to regain investor confidence in efforts to relive glory days

By: Ilan Solomons     2nd June 2017 Junior mining companies have certainly been through a tough time of late. Some of the pain has been self-inflicted, some has been a long time coming and some of it has been pure bad luck, says Junior Indaba chairperson Bernard Swanepoel. “That is the way cycles go and the world will hopefully... 

Junior miners seek to regain investor confidence in efforts to  relive glory days
Photo by Duane Daws
STEADY IMPROVEMENTS 2017 has already seen some welcome recovery in commodity prices, but the sustainability of recovery is uncertain

Research firm sees Montepuez ruby field becoming consistent, stable source of rubies

By: Ilan Solomons     2nd June 2017 Australian and US investment research firm Independent Investment Research (IIR) has completed a valuation for ASX-listed junior miner Mustang Resources resulting in a base case 12-month price target of $89-million, or $0.169 a share. IRR says that 80% of this is based on a risk discounted cash... 

Research firm sees Montepuez ruby field  becoming consistent, stable source of rubies
Photo by Mustang Resources
GOOD VIBRATIONS Encouraging results from Montepuez include the early stage work by Mustang to date which has resulted in the recovery of about 73 000 ct of reportedly high-quality rubies

Operation Phakisa pushes for improved capability in subsurface research

By: Ilan Solomons     2nd June 2017 Operation Phakisa’s oil and gas group has identified the need to develop localised capability in this sphere and consequently tasked the D2 working group with initiatives aimed at developing South African capability in subsurface research and data gathering, says national exploration regulator... 

Operation Phakisa pushes for improved  capability in subsurface research
Photo by Duane Daws
BURIED TREASURES? There is a need to asses the seabed mineral deposits known to occur in the world’s oceans beyond the boundaries of national jurisdictions

Earth observation satellites starting to bring benefits to mining sector

By: Keith Campbell     2nd June 2017 At last month’s International Symposium on Remote Sensing of the Environment, held at the Council for Scientific and Industrial Research (CSIR) in Pretoria, one of the very many topics addressed was the use of remote sensing, particularly from Earth observation (EO) satellites, to support the... 

Earth observation satellites starting to bring benefits to mining sector

NextSource feasibility update outlines optimistic Molo economics at current graphite prices

By: Henry Lazenby     1st June 2017 Canadian graphite project developer NextSource Materials has published the results of an updated feasibility study (FS) for its flagship Molo graphite project, in Madagascar, outlining positive economics despite current depressed carbon prices. Toronto-based NextSource (previously Energizer... 

NextSource feasibility update outlines optimistic Molo economics at current graphite prices
Photo by NextSource Materials
Early exploration at NextSource Materials' Molo graphte project, Madagascar

South32 signs up for another AusQuest project

By: Esmarie Swanepoel     1st June 2017 Diversified miner South32 has committed to a third copper/gold project in Peru with fellow-listed AusQuest. The two companies in February this year struck a strategic alliance agreement under which AusQuest would generate and secure prospective early-stage exploration opportunities, which would... 

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