R/€ = 14.98 Change: -14.83
R/$ = 13.76 Change: -13.62
Au 1274.50 $/oz Change: 2.40
Pt 961.50 $/oz Change: -3.50

Exploration News

Infill drilling programme at Kamoa to kick-off next month

By: David Oliveira     7th April 2016 Canadian exploration and development company Ivanhoe Mines and joint-venture partner Chinese miner Zijin Mining were preparing to accelerate a planned infill drilling programme at the Kamoa copper project’s Kakula discovery, area, in the Democratic Republic of Congo (DRC), starting next month.... 

Marathon to get govt funding for Newfoundland project R&D

By: Henry Lazenby     6th April 2016 Project developer Marathon Gold will receive research and development (R&D) funding under the GeoEXPLORE programme of the Research & Development Corporation of Newfoundland and Labrador (RDC) for metallurgical testing on mineralised material from the Leprechaun and Marathon deposits, at the... 

Mining companies falter on failure to comprehend sustainability

By: Simon Rees     6th April 2016 Companies need to think beyond environmental or socio-economic engagement when considering sustainability, Schulich School of Business programme director and Inmet chair Richard Ross told an audience at a recent meeting of the Canadian Institute of Mining’s Economic and Management Society in... 

Responsible mining standards published ahead of global certification programme launch

By: Samantha Herbst     5th April 2016 The Initiative for Responsible Mining Assurance (IRMA) has published the second and revised draft of its Standard for Responsible Mining, which it released on Tuesday for public comment and a sixty-day review.The standard would form part of a multisector effort to certify the social and... 

Southern Gold inks farm-in with Aruma

By: Esmarie Swanepoel     5th April 2016 Explorer Southern Gold has inked an agreement with a subsidiary of fellow listed Aruma Resources to earn up to a 90% interest in the most prospective part of the Glandore project, in Western Australia. Under the terms of the agreement, Southern Gold would make an initial cash payment of A$100... 

Fertoz gains ground in British Columbia

By: Esmarie Swanepoel     5th April 2016 SX-listed Fertoz has increased its property holding in Canada after being granted the Mt Lyne project area by the British Columbia Department of Energy and Mines. The Mt Lyne property would form part of Fertoz’s greater Fernie phosphate project, with the company saying on Tuesday that it was a... 

Nemaska stock spikes on positive updated feasibility study

By: Henry Lazenby     4th April 2016 The TSX-listed stock of project developer Nemaska Lithium on Monday spiked after the company released an updated feasibility study on the Whabouchi mine and concentrator, which will be built in the Eeyou Istchee James Bay territory, in Quebec, as well as the hydromet plant, which will be located... 

Nemaska stock spikes on positive updated feasibility study
Photo by Reuters
Lithium-ion batteries in production

RNC hits bonanza grades at Beta Hunt mine, gets call option on rest of SLM shares

By: Henry Lazenby     4th April 2016 TSX-listed Royal Nickel Corporation (RNC) on Monday announced that it was evaluating options to process “bonanza grade” ores from the ‘Hand of Faith’ (HOF) area of the Beta Hunt mine, a low-cost nickel and gold producer located in the prolific Kambalda mining district of Australia. The company... 

BC’s jade industry growing as the precious gem’s popularity climbs 

By: Henry Lazenby     1st April 2016 British Columbia’s jade mining industry is expanding on the back of insatiable demand from China, as producers struggle to keep up with demand for the gem-quality metamorphic green rocks. Between 1975 and 2000, the jade industry averaged about 200 t/y, but this had since ballooned to about 1 000... 

BC’s jade industry growing as the precious gem’s popularity climbs
Photo by Green Mountain Jade
The 'Polar Pride' jade boulder mined by Green Mountain Jade that went on to be carved into the world-famous 'Jade Buddha for Universal Peace', currently on an extended world tour

Correct use of science crucial to unearthing mineral endowment, says Council for Geoscience

By: Ilan Solomons     1st April 2016 Targeting science is a key application in economic geology, as it is aimed at translating knowledge about minerals into mappable proxies. This is done along with the integration of constraints imposed by previous exploration, as well as developing and evaluating methodologies of data interaction... 

Correct use of science crucial to unearthing mineral endowment, says Council for Geoscience
CHECKING TRACK-RECORD Previous explorations projects and discoveries are important in considering the residual prospectivity of a given mineral province

Junior explorer inks deal for Tanzania graphite project prefeasibility study

By: Mia Breytenbach     1st April 2016 Junior exploration company Mozambi Resources has signed an agreement with Australian specialist project management company BatteryLimits to deliver a prefeasibility study (PFS) on its wholly-owned Namangala graphite project in Tanzania. The Namangale project is one of the largest graphite... 

Junior explorer inks deal for Tanzania graphite project prefeasibility study
KEY PRIORITY Mozambi Resources will focus on the production of high-quality flake concentrates, targeting the lithium-ion battery market

Bankable study confirms Nachu’s commercial viability – Magnis

By: Esmarie Swanepoel     31st March 2016 The bankable feasibility study (BFS) for the Nachu graphite project, in Tanzania, has delivered improved project economics, owner Magnis Resources revealed on Thursday. The BFS confirmed that Magnis could develop a mine producing an average of 220 000 t/y of graphite concentrate over 15 years at... 

Teck forges ahead with Fort Hills, expects big reward when cyclical market rebounds

By: Henry Lazenby     31st March 2016 Canadian diversified miner Teck Resources is aiming to end 2016 with more than $500-million cash in the bank despite funding its portion of the Fort Hills oil sands project construction, in Alberta, and dealing with low commodity prices across its core portfolio. The Vancouver-based company, the... 

Kyrgyz govt backs White Cliff exploration

By: Esmarie Swanepoel     30th March 2016 The Kyrgyz State Agency for Geology and Mineral Resources has approved ASX-listed White Cliff Minerals’ exploration programme for its Aucu gold project. The exploration approvals, which covered the period between 2016 and 2020, followed on from the recent renewal of a five-year licence extension... 

Pershing raises $6m to move Relief Canyon project forward

By: Henry Lazenby     29th March 2016 Nevada-focused project developer Pershing Gold has closed a $6-million financing to move the Relief Canyon gold project further up the value curve. Under the private placement, Donald Smith Value Fund bought 1.85-million units, at a price of $3.25 apiece, for net proceeds to the company of about... 

Liontown raises cash for lithium exploration

By: Esmarie Swanepoel     29th March 2016 unior explorer Liontown Resources would raise A$1.3-million through a share placement to progress exploration and evaluation at its lithium projects. The company said on Tuesday that it would place about 87.1-million shares, at a price of 1.5c each, to sophisticated and professional investors. 

Aurico Metals CFO resigns, company finds high-grade core at Kemess East

By: Henry Lazenby     28th March 2016 TSX-listed AuRico Metals on Monday announced that CFO Robert Chausse has resigned effective March 31. The company advised that Chausse would was leaving to pursue the position of CFO at another company. 

Wellgreen Platinum closes first tranche of private placement

By: Henry Lazenby     28th March 2016 Canadian exploration and development company Wellgreen Platinum has closed the first C$2.8-million tranche of a private placement with Electrum Strategic Opportunities Fund. The TSX-listed company issued 14-million units comprising one common share in the capital of the Wellgreen and one common... 

Australian miner moves to acquire two more graphite exploration licences in Mozambique

By: African News Agency      28th March 2016 Australian miner Mustang Resources Limited has announced that it will by mid-April acquire majority stakes to two more exploration licences to expand its resource portfolio within the Balama graphite mining project, in Mozambique. In a cautionary notice issued to shareholders on Friday, Mustang... 

Vanderbilt Commercial to fund $30m Tango loan for Botswana project

By: Henry Lazenby     28th March 2016 California-based financial lender Vanderbilt Commercial Lending has presented TSX-V-listed Tango Mining with a proposal outlining a $30-million loan commitment to fund Tango’s acquisition and the capital required to restart the BK11 kimberlite diamond mine (BK11 mine), in Botswana. Pending... 

Exploration campaign at Sierra Leone gold prospect intercepts mineralisation in 70% of drillholes

By: Mia Breytenbach     25th March 2016 The exploration programme of multicommodity exploration and development company Sula Iron & Gold’s Sierra Leone-based Ferensola gold project shows gold mineralisation encountered in 70% of the drillholes, in an area measuring about 25% of the defined exploration target. Drilling has identified... 

Exploration campaign at Sierra Leone gold prospect intercepts mineralisation in 70% of drillholes
GOLD POTENTIAL Sula Iron & Gold aims to progress the Sierra Leone-based Ferensola gold project to bankable feasibility-study stage

Sudbury Platinum closes private placement

By: Henry Lazenby     24th March 2016 Sudbury-focused project generator Sudbury Platinum (SPC) has closed a C$3.18-million financing after issuing 8.69-million flow through common shares at a price of $0.33 a share, 148 649 Flow Through common shares at a price of $0.37 each and 850 000 common shares at a price of $0.30 apiece.... 

Marlin reschedules debt, lifts Golden Reign stake as it prepares to outperform in next 6 quarters

By: Henry Lazenby     24th March 2016 Mining junior Marlin Gold has secured a lower interest rate on a loan from its principal shareholder Wexford Capital, and increased the facility from $3-million to $35-million in order to lift Marlin's ownership of project developer Golden Reign Resources from 18.3% to 19.9%. TSX-V-listed Marlin... 

Lithium X gets drill permit for Nevada project

By: Henry Lazenby     24th March 2016 Junior explorer Lithium X Energy has received the necessary work permits from the Bureau of Land Management to complete four drill holes at its Clayton Valley North lithium project, in Nevada. The Vancouver-based firm planned to drill two holes each at two different locations to test potential... 

New study aimed at improving understanding of potential Karoo shale gas reserves

By: Ilan Solomons     24th March 2016 The Council for Geoscience (CGS) in conjunction with other research bodies is improving the understanding of the stratigraphy and basinal settings of potential shale gas reserves in South Africa’s Karoo Basin region. CGS senior specialist scientist Dr Doug Cole says the study focuses on data... 

New study aimed at improving understanding of potential  Karoo shale gas reserves
CORE TESTING Borehole KZF is located 75-km north-east of the town of Ceres and penetrates 671 m of Karoo strata, including the gas-favourable Whitehill and Prince Albert formations

Grafoid, Xiamen MoU to open door for Canadian graphite products in China

By: Henry Lazenby     23rd March 2016 Privately held research and development company Grafoid Inc has signed a memorandum of understanding (MoU) with China’s largest exporter and producer of tungsten, Xiamen Tungsten. The agreement was hailed by Grafoid chairperson Jeffrey York as a turning point in Grafoid’s global technology... 

Grafoid, Xiamen MoU to open door for Canadian graphite products in China
Photo by Focus Graphite
High-grade graphite from Focus Graphite's Lac Knife project, Quebec.

Dunnedin makes progress with Nunavut bulk sample

By: Henry Lazenby     23rd March 2016 Emerging diamond explorer Dunnedin Ventures has, to date, recovered 278 diamonds from a 2.4 t bulk sample collected during the 2015 field programme from the Notch kimberlite, which forms part of the Kahuna project in Nunavut. Despite having processed only about 40% of the sample, Dunnedin noted... 

Heron aims at tapping 2018 zinc supply gap with near-term Woodlawn project

By: Henry Lazenby     23rd March 2016 Heron Resources is looking towards 2018 for first production from its flagship Woodlawn zinc/copper brownfield project, at about the same time that the zinc supply gap is expected to be at its peak. “Woodlawn is one of the very few near-term zinc production projects, positioned to tap into the... 

Cape Lambert sells exploration assets

By: Esmarie Swanepoel     23rd March 2016 Resources and investment company Cape Lambert Resources has inked a sale and purchase agreement with a subsidiary of Newcrest Mining over its three exploration licences in Côte d’Ivoire. Under the terms of the agreement, Cape Lambert would sell its three exploration licences for $332 500, as... 

Federal budget extends 15% METC for another year

By: Henry Lazenby     23rd March 2016 Canada’s federal government has extended the 15% Mineral Exploration Tax Credit (METC) till March 2017, turning a deaf ear to lobby groups calling for increased benefits that could help resuscitate the struggling domestic exploration industry and enhance the capital flow to these important... 

Federal budget extends 15% METC for another year
Photo by Reuters
Canada's Finance Minister Bill Morneau delivers the 2016 federal budget in the House of Commons on Parliament Hill, in Ottawa.

Trevali exploration uncovers ‘tangible’ near-term value at Santander

By: Henry Lazenby     22nd March 2016 Canadian base metals miner Trevali Mining has expanded the Magistral zones at its flagship Santander zinc mine, in Peru, after the results of outstanding exploration drill holes from its 2015 exploration programme returned multiple high-grade zinc/lead/silver drill intercepts. “Results from our... 

White Rock inks formal documents with takeover target Atlas Resources

By: Esmarie Swanepoel     22nd March 2016 ASX-listed White Rock Minerals has executed a formal share purchase agreement with unlisted Atlas Resources in order to acquire the Red Mountain polymetallic project, in Alaska. The Red Mountain project consists of 16 state mining claims and 9 leasehold locations covering a total area of 16 km2. 

Burst bubbles offer salutary lessons for mining industry

By: Simon Rees     21st March 2016 Speculative bubbles offered useful templates for those seeking to identify new ones through which value can be realised before their inevitable burst, newsletter writer Mickey Fulp told an audience at the recent Prospectors and Developers Association of Canada conference. But bubbles also acted... 

Burst bubbles offer salutary lessons for mining industry
Photo by Reuters
Lithium-ion batteries.

Metals of Africa declares maiden resource at Balama Central

By: Esmarie Swanepoel     21st March 2016 ASX-listed junior Metals of Africa has defined a maiden mineral resource of 16.3-million tonnes at its Balama Central project, in Mozambique. Grading 10.4% total graphitic carbon and 0.21% vanadium oxide, the project is estimated to contain some 1.7-million tonnes of graphite and 34 000 t... 

Red Cloud’s Klondike Strike ‘democratising’ mining investment stage

By: Henry Lazenby     18th March 2016 A new crowdfunding platform is aiming to revolutionise mine financing in giving both individual and institutional investors access to participate in security offerings of mining companies, which are usually restricted to a select few high net-worth people, institutional investors, friends and... 

Kennady discovers third kimberlite at flagship Northwest Territories project

By: Henry Lazenby     18th March 2016 Project developer Mountain Province Diamonds’ exploration spin-out Kennady Diamonds has discovered a third kimberlite body at the high-grade Faraday kimberlite cluster at the Kennady North project, in the Northwest Territories. Operating contiguous to the Gahcho Kué diamond mine currently being... 

Noront closes C$6.33m prospectus offering

By: Henry Lazenby     18th March 2016 The largest landowner in Northern Ontario’s Ring of Fire chromite and nickel mining camp Noront Resources has raised gross proceeds of C$6.33-million after closing its short-form prospectus offering the company announced on Thursday. The company had issued the maximum number of units and... 

While lithium opportunities grow, investors urged to maintain caution

By: Simon Rees     18th March 2016 The increase in lithium prices has tempted more companies to enter the space and take advantage of the growing market interest, said Disruptive Discoveries Journal newsletter writer Chris Berry at the recent Prospectors and Developers Association of Canada conference. “A lot of companies have... 

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