R/€ = 15.90 Change: -0.01
R/$ = 14.07 Change: 0.00
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Pt 805.07 $/oz Change: 17.61

Exploration News

Excelsior shareholders give thumbs up to Spitfire merger

By: Creamer Media Reporter      19th September 2018 The takeover of Excelsior Gold by Spitfire Materials has received shareholder backing, paving the way for the merger implementation to proceed. Excelsior shareholders approved the transaction on Wednesday. The Federal Court approval will be sought next week and, should that be given, the scheme... 

Gascoyne hits ultra-high gold grades at Dalgaranga

By: Mariaan Webb     19th September 2018 Drilling at the Tanqueray prospect of the Dalgaranga gold project, near Mount Magnet, Western Australia, has intersected ultra-high gold mineralisation, Gascoyne Resources announced on Wednesday, sending its stock up 18%. Drilling intersected 373.5 g/t gold (12 oz/t) from 53 m, including 3 m at... 

Hummingbird to raise processing throughput, confirms good gold intercepts

By: Marleny Arnoldi     19th September 2018 Aim-listed gold miner Hummingbird Resources will build a second ball mill at the Yanfolila gold mine, in Mali, that will increase plant throughput from 1.2-million to 1.4-million tonnes a year, based on a blend of ore types. Based on 100% fresh ore types, the throughput capacity will increase... 

Upbeat Pan African repositioned as lower-cost gold producer

By: Martin Creamer     19th September 2018 Gold mining company Pan African Resources said on Wednesday that it had reconfigured its gold operations for sustainable profitability through the creation of a lower cost base and the imposition of efficiencies and stability through restructuring. The London- and Johannesburg-listed company,... 

Upbeat Pan African repositioned as lower-cost gold producer
Photo by Creamer Media
Pan African Resources CEO Cobus Loots (right) with Thabo Mokoena (left) and Eric Kholwane (centre) at the Elikhulu sod-turning ceremony

Kirkland invests in Urban Barry explorer Osisko Mining

By: Creamer Media Reporter      19th September 2018 Midtier gold producer Kirkland Lake has increased its shareholding in TSX-listed Osisko Mining, through which it has exposure to the Urban Barry area of north-western Quebec. The company acquired 14 705 882 common shares of Osisko by way of private placement at C$1.70 a share, for a total cash... 

Vector Resources secures $20m loan to aid Adidi-Kanga development

By: Marleny Arnoldi     18th September 2018 ASX-listed Vector Resources has secured a $20-million committed debt facility with resources focus fund Medea Future Materials Fund, to help reduce its indebtedness with a local Democratic Republic of Congo (DRC) bank. The company needs $5-million for upfront acquisition costs, about $10-million... 

New Botswana coal mine development under way – Minergy

By: Martin Creamer     18th September 2018 Work is under way on the new Masama coal mine, which Botswana Stock Exchange-listed Minergy expects to commission in January, ahead of its primary listing on London’s Alternative Investment Market (Aim) in the first half of next year. The 390-million-tonne Masama, located in the Mmamabula... 

New Botswana coal mine development under way – Minergy
Minergy CEO Andre Bojé

Serabi gets extension for Sprott loan

By: Creamer Media Reporter      17th September 2018 Brazil-focused Serabi Gold has agreed an extension to the repayment terms for a $3-million loan with Sprott, allowing the Aim- and TSX-listed gold miner and developer with flexibility to fund work brought forward at the Coringa project. The loan, which was taken out in January, will now have a... 

‘Major’ drilling programme approved for Torrens

By: Creamer Media Reporter      17th September 2018 The management committee of the Torrens joint venture – a 70:30 Aeris Resources and Argonaut partnership – has approved Stage 1 of a “major” drilling programme the iron-oxide/copper/gold project, in South Australia. Stage 1 will involve eight to ten drill holes to depths of between 700 m and 1... 

Encounter/Newcrest JV granted new Tamani licences

By: Simone Liedtke     17th September 2018 ASX-listed Encounter Resources has been granted seven new exploration licences in the Tanami gold province of Western Australia as part of its joint venture (JV) with major Newcrest Mining. The JV now controls a granted exploration tenure covering about 3 500 km2 in the province, representing... 

Metminco plans acquisition and funding announcement

By: Creamer Media Reporter      17th September 2018 Australia-headquartered Metminco requested a voluntary suspension from the ASX on Monday, pending an announcement about a proposed capital raising and acquisition. The company, which requested a trading halt last week, said that an announcement would be made on Tuesday. 

RNC says Fathers Day vein delivers more high-grade gold

By: Mariaan Webb     17th September 2018 TSX-listed RNC Minerals on Monday announced that it had doubled the strike length of the high-grade coarse gold structure of the Fathers Day vein, in the Beta Hunt mine, to about 10 m and added that it would provide an update on the estimated ounces from this new Australian gold discovery later... 

Beaufield CEO resigns

By: Creamer Media Reporter      17th September 2018 Quebec- and Ontario-focused explorer Beaufield Resources has announced the resignation of its president and CEO, Ronald Stewart, who is leaving the company to “pursue other opportunities”. His resignation is effective with immediate effect, the TSX-V-listed exploration firm said on Friday. 

Pan African expects lower earnings

By: Martin Creamer     14th September 2018 Gold mining company Pan African on Friday advised shareholders that earnings in the 12 months to June 30 are expected to be lower than for the corresponding period last year. But the challenging operational environment has been ameliorated by the pouring last month of the first gold at the newly... 

Pan African expects lower earnings
Photo by Creamer Media
Pan African CEO Cobus Loots

New exploration licences validated

14th September 2018 Canada-based diversified miner Maxtech Ventures last month announced that its Zambian mining operation, Maxtech Mining Zambia’s two large-scale exploration licences have been validated by the Minister of Mines and Mineral Development of Zambia. The first large-scale exploration licence is for an... 

New exploration  licences validated
Photo by Creamer Media
HIGH-GRADE MANGANESE Maxtech Ventures’ two specific licence areas have shown the potential for high-grade manganese mineralisation of up to 70% manganese

Strong new collaboration with governments of South Africa, Zimbabwe – Implats 

By: Martin Creamer     13th September 2018 Platinum mining company Impala Platinum (Implats), which is collaborating closely with the South African government to preserve jobs at the heavily lossmaking Impala Rustenburg operation, is also working in very close cooperation with the government of Zimbabwe, where it has secured major tax... 

Strong new collaboration with governments of South Africa, Zimbabwe – Implats
Implats CEO Nico Muller interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer.

Bushveld increases indirect interest in Vametco to 75%

By: Simone Liedtke     13th September 2018 Aim-listed Bushveld Minerals has increased its indirect beneficial interest in Vametco Alloys to 75%, from 59.1%, through the acquisition of Sojitz Noble Alloys’ 21.22% interest in Vametco’s intermediate holding company Strategic Minerals Corporation (SMC), for $20-million. Following completion... 

Indian mineral exploration policy and reality divergence

By: Ajoy K Das     12th September 2018 The Indian government’s ostensible policy is to double mineral exploration every year with participation of domestic and foreign private players, but foreign participation in domestic non-coal mineral exploration is on a downtrend. “We are preparing a document for increasing the participation of... 

Titan could earn into Peru gold

By: Esmarie Iannucci     12th September 2018 ASX-listed junior Titan Minerals could potentially acquire an 85% interest in the Las Antas gold project, in Peru, after negotiations with a private Peruvian company. Subject to the execution of a formal binding earn-in agreement, Titan could earn an initial 60% interest in the project by... 

Ultra Lithium buys property adjacent to its Lucky Lake claim

By: Creamer Media Reporter      12th September 2018 TSX-V-listed explorer Ultra Lithium has entered into an agreement with fellow-listed International Lithium to buy the Forgan Lake lithium property, in the Thunder Bay, north-western Ontario. The Forgan Lake property, consisting of about 256 ha land in 16 units, comprises one legacy claim... 

Gold mining battling to attract capital – Holland

By: Martin Creamer     11th September 2018 Capital is not as easily available to gold mining companies as it used to be. Gold producers are having to compete with gold-linked alternatives and can no longer rely on equity as a guaranteed means of financing projects or addressing balance sheet gearing. Making these points at the... 

Gold mining battling to attract capital – Holland
Photo by Creamer Media
Gold Fields CEO Nick Holland

Cobalt on the cards for CuDeco

By: Esmarie Iannucci     11th September 2018 Copper miner CuDeco has entered into a memorandum of understanding with fellow-listed Cobalt Blue Holdings, allowing that company to conduct a due diligence to evaluate the applicability of its minerals processing technology to the cobalt-pyrite concentrate produced at the Rocklands mine, in... 

High-tenor sulphides intersected at Orion’s Rok Optel

By: Tasneem Bulbulia     10th September 2018 Ongoing exploration at Orion Minerals’ Rok Optel nickel/copper/cobalt/platinum group elements target on the Namaqua and Disawell mineral rights in the Areachap Belt, South Africa, has intersected high-tenor sulphides. Initial drilling has confirmed the presence of high-tenor polymetallic sulphide... 

Crade Arc signs Mali project exploration agreement with Indiana Resources

By: Marleny Arnoldi     10th September 2018 Aim-listed copper and gold miner Cradle Arc’s subsidiary Caracal Gold Mali has entered into a joint venture (JV) agreement with Mukuyu Resources for the exploration and development of Cradle’s 137 km2 Kossanto West gold project, in Mali. The area comprises the Kobokoto and Koussikoto... 

First Majestic sees near-term production potential at Ermitano

By: Creamer Media Reporter      10th September 2018 Canadian silver miner First Majestic Silver exercised its option agreements over the Ermitaño and Cumobabi projects and has earned 100% of these projects, which are located near its operating Santa Elena mine, in Sonara, Mexico. In terms of a 2014 option agreement with Evrim Resources, First... 

Mina do Barroso lithium resource continues to grow

By: Mariaan Webb     10th September 2018 Aim-listed Savannah Resources on Monday announced its third mineral resource estimate for its northern Portugal lithium project in less than seven months, with the resource shooting past the 20-million-tonne mark. The mineral resource estimate of the Grandao deposit has increased by 64% to... 

Mina do Barroso lithium resource continues to grow
Savannah Resources David Archer

Newmont backs Orosur with $2m placement, Colombia earn-in

By: Mariaan Webb     10th September 2018 TSX- and Aim-listed Orosur on Monday announced an exploration and option agreement with gold major Newmont Mining, which will see the gold major earn into the 207.5 ha Anzá project in Antioquia, Colombia. Newmont has also invested $2-million through a private placement in the cash-strapped... 

Todd River raises cash for exploration

By: Esmarie Iannucci     10th September 2018 Base metals explorer Todd River Resources will raise A$4.2-million through a share placement to fund drilling at its Mt Hardy zinc/copper discovery, in the Northern Territory. The company has received form commitments for the first 12.5-million shares, at 8c each, to raise an initial A$1-million... 

Syndicated reports maiden resources at Monument

By: Esmarie Iannucci     10th September 2018 ASX-listed Syndicated Metals has reported a maiden Joint Ore Reserves Committee compliant resource of 855 000 t, at 1.8 g/t gold for 50 000 oz of contained gold at the Korong deposit, at its Monument gold project, in Western Australia. The company on Monday said that the initial inferred mineral... 

McEwen reports encouraging exploration results from Canada, US projects

By: Marleny Arnoldi     7th September 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has reported an updated mineral resource estimate for the Froome deposit and “highly encouraging” exploration results from its ongoing $15-million exploration programme at the Black Fox Complex, in Ontario, Canada. The Froome indicated... 

Carbon Tax, DRDGold and exploration make headlines 

7th September 2018 This week, there are calls for treasury to abandon the carbon tax plan in light of the new Integrated Resources Plan, DRD Gold expects rapid gold output and exploration stimulus must be transparent.  

Carbon Tax, DRDGold and exploration make headlines
Carbon Tax, DRDGold and exploration make headlines

Mooted MPRDA Amendment Bill withdrawal an indication govt wants to end regulatory uncertainty, says lawyer

By: Nadine James     7th September 2018 Minerals Resources Minister Gwede Mantashe’s recommendation to withdraw the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill is likely because government wants to remove regulatory uncertainty affecting the mining sector, and in so doing, foster a more attractive investor... 

Investors need proof of Zimbabwe mining pudding

By: Evert Wasserman     7th September 2018 There are plenty of new and dormant coal projects in Zimbabwe, which can help improve the economy of Zimbabwe, says senior coal analyst Xavier Prévost. Zimbabwe has abundant coal resources of a high quality, as some contain coking coal, which is usually available and also the most expensive kind... 

Investors need proof of Zimbabwe mining pudding
Photo by Bloomberg
KEY INPUT Coking coal is used to create coke, one of the key input components for the production of steel, which is the key element of blast furnace operations

Master Drilling acquires Atlantis

By: Martin Creamer     5th September 2018 The strengthening of diversified geographic footprint of mining technology company Master Drilling is continuing with the announcement on Wednesday that the Johannesburg Stock Exchange company had entered into agreements to acquire the businesses of the Atlantis Group, a South African... 

Master Drilling acquires Atlantis
Photo by Creamer Media Chief Photographer Dylan Slater
Master Drilling CEO Danie Pretorius

Chaarat reports significant increase in Tulkubash resource and grade

By: Creamer Media Reporter      4th September 2018 Aim-quoted exploration and development company on Tuesday announced a significant increase in the mineral resource estimate for its Tulkubash oxide gold deposit in the Kyrgyz Republic. Results of an interim resource update indicate that the Tulkubash mineral resource increased by 46% to more... 

Oz sets aside a further A$2m for Eloise

By: Esmarie Iannucci     4th September 2018 Copper gold miner Oz Minerals will invest a further A$2-million on exploration on the Eloise joint venture (JV), in Queensland, during the 2018 calendar year. JV partner Minotaur Exploration on Tuesday reported that the two companies would expand exploration activity across the JV tenements with... 

Tando ready to start 7.1 km drilling programme at South African vanadium project

By: Marleny Arnoldi     3rd September 2018 ASX-listed junior miner Tando Resources has mobilised one reverse circulation and one diamond core drilling rig at its SPD Vanadium project, in South Africa’s Bushveld Complex, and is ready to start a A$1.4-million drilling programme. Assay results are expected to underpin strong newsflow over... 

ECR Minerals shares rise on Australia gold exploration update

By: Mariaan Webb     3rd September 2018 London-listed ECR Minerals believes there is potential for a significant gold discovery at its Blue Moon gold project in Victoria, Australia, and will initiate a deeper reverse circulation drilling programme in the coming months to test the prospect’s potential. The company said on Monday that... 

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