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Exploration News

Ardea taps the market for funding

By: Esmarie Iannucci     18th September 2020 Junior Ardea Resources has received commitments to raise A$3.5-million through a share placement priced at 47c a share, to fund exploration work. The company will place more than 7.44-million shares under its existing placement capacity, to sophisticated and professional investors.  

TomaGold sells remaining 25% of Monster Lake stake to Iamgold

By: Creamer Media Reporter      18th September 2020 Listed miner Iamgold will buy the remaining 25% of the Monster Lake project, in the Chibougamau mining camp, Quebec, from TSX-V-listed TomaGold in an C$8.5-million cash-and-share transaction. The Monster Lake project comprises the Monster Lake, Winchester and Lac à l’eau jaune properties in the... 

Renascor shakes the tin for exploration work

By: Esmarie Iannucci     18th September 2020 Graphite developer Renascor Resources will raise A$3.6-million to fund work streams at its Siviour battery anode materials project and at its Carnding gold project, in South Australia. More than 324.8-million shares will be issued at a price of 1.1c each, along with one free attaching option... 

Exploration on the rise in WA

By: Esmarie Iannucci     17th September 2020 Mineral exploration activity in Western Australia has hit a record five-year high, new data from the Department of Mines, Industry Regulation and Safety showed. The department recorded a five-year high in the number of programme of work (PoW) applications, with the figures for July and August... 

Altus secures royalty, upfront and future payment agreements for Côte d'Ivoire gold projects

By: Marleny Arnoldi     16th September 2020 TSX-V- and Aim-listed Altus Strategies has signed purchase and sales, and net smelter return royalty (NSR), agreements with TSX-V-listed Stellar Africa Gold. This relates to Altus selling its 100% interest in Aeos Resources, which, through a Ivorian subsidiary named Aucrest, owns the Prikro and... 

Project launched to bolster Botswana's geoscience data

By: Donna Slater     16th September 2020 Full tensor gravity gradiometry (FTG) data company Bell Geospace and the Botswana Geoscience Institute (BGI) have launched the Mineral Prospectivity Mapping project at the virtual Africa Mining Summit 2020, held on September 15 and 16. The project promotes access to integrated quality geoscience... 

Papillon makes ‘good progress’ in making board changes for Mayflower transaction

By: Simone Liedtke     16th September 2020 London-listed investment company Papillon Holdings nonexecutive director Lord Monson has been appointed nonexecutive chairperson. He succeeds James Longley, who remains CFO and nonexecutive director. 

Lundin Gold receives permit to drill Emperador concession

By: Creamer Media Reporter      16th September 2020 Ecuador-focused Lundin Gold has received an exploration permit for the Emperador concession, which includes the drill ready Barbasco target, where the company plans to start a drill programme in the fourth quarter. The Barbasco target is 3.8 km in length and has a similar structural location and... 

Sipa finds exploration funds

By: Esmarie Iannucci     16th September 2020 Junior Sipa Resources will raise A$2.3-million in a share placement to fund exploration work in Western Australia. The explorer on Wednesday said that it has received firm commitments for the placement of some 32.3-million shares, at a price of 7.2c each, which represented a discount of 17.5% to... 

Mkango's Malawi exploration unearths interesting grades of rutile

By: Donna Slater     15th September 2020 Aim- and TSX-V-listed Malawi-focused rare earth element explorer Mkango Resources reports that the reconnaissance shallow soil sampling and auger programme at its Mchinji licence area has returned interesting grades of rutile plus anatase. The results demonstrate the presence of... 

MegumaGold buys fellow explorer Osprey Gold

By: Creamer Media Reporter      15th September 2020 Explorer MegumaGold has completed its acquisition of Osprey Gold Development, consolidating their respective land packages in Nova Scotia. Former Osprey president Cooper Quinn, and now MegumaGold board member, states that the combined company holds an “excellent” suite of assets, from... 

Blackstone sets A$21m raising target

By: Esmarie Iannucci     14th September 2020 Junior Blackstone Minerals has announced plans to raise more than A$20-million through a share placement and share purchase plan (SPP) to fund ongoing work at the Ta Khoa nickel/platinum group metals project, in Northern Vietnam. The company said on Monday that it had received firm commitments... 

Saturn Metals raises exploration funds

By: Esmarie Iannucci     14th September 2020 Explorer Saturn Metals has raised A$13.7-million through a share placement to institutional and professional investors to fund exploration at its Apollo Hill gold project, in Western Australia. The placement comprised of more than 20.5-million shares, issued at a price of 67c a share under the... 

QRC urges more state investment in mining

By: Esmarie Iannucci     14th September 2020 The Queensland Resources Council (QRC) has called on the state government to commit additional funding from its A$3-billion Covid-19 stimulus package to boost exploration in the region. QRC CEO Ian Macfarlane on Monday said the government’s current Collaborative Exploration Initiative (CEI),... 

Pandemic puts strain on Zambian mining sector

By: Mc'Kyla Nortje     11th September 2020 Amid the challenges facing the Zambian mining industry, partially because of Covid-19, government has committed to waiving penalties and interest on the late payment of taxes, explains advisory firm KPMG Zambia tax partner Michael Phiri. The Central Bank has also set aside about R9-million, which... 

Pandemic puts strain on Zambian mining sector
MICHAEL PHIRI Should the Covid-19 pandemic continue into 2021/22, a different marketing strategy using information technology solutions would need to be adopted

Drilling begins at Stonepark zinc project, Ireland

By: Creamer Media Reporter      10th September 2020 Canada-based junior Group Eleven has started drilling at the Stonepark zinc project, in the Limerick basin of Ireland. Stonepark is a joint venture between Group Eleven and Irish explorer Arkle Resources, which trades in London. The drill programme at Stonepark will consist of two step-out... 

Blue states sue to stop Trump’s Arctic refuge drilling plan

By: Bloomberg     10th September 2020 A group of 15 Democrat-led states sued to block the Trump administration’s decision to sell drilling rights in the Arctic National Wildlife Refuge, alleging the plan fails to account for the danger to wildlife and climate-change impacts. The plan to open drilling in the 1.56 million-acre coastal... 

Blue states sue to stop Trump’s Arctic refuge drilling plan

Maximus raises exploration funds

By: Esmarie Iannucci     10th September 2020 Gold and metals explorer Maximus Resources will raise A$3.1-million through a share placement to institutional, sophisticated and existing shareholders. The company has completed a bookbuild for the capital raise, and will place more than 31.5-million new shares at a price of 9.5c each. 

IronRidge starts Phase 3 drilling at Zaranou gold project

By: Donna Slater     9th September 2020 Africa-focussed minerals exploration company IronRidge Resources has started its third phase drilling programme within the Zaranou gold project area in Côte d’Ivoire, with about 50 000 m of drilling planned. The licence borders with Ghana and is along strike from significant operating gold mines... 

Nova Royalty acquires portfolio of Canadian royalties

By: Creamer Media Reporter      9th September 2020 Vancouver-headquartered Nova Royalty, which is working towards a TSX-V-listing this fall, has entered into a royalty purchase agreement with Transition Metals, pursuant to which Nova will acquire a portfolio of nine royalties. The portfolio includes an existing 1.0% net smelter return (NSR)... 

Gold Terra to earn into ground adjacent to Con mine

By: Mariaan Webb     9th September 2020 TSX-V-listed Gold Terra Resources on Tuesday announced an exploration agreement with gold major Newmont, which could see the junior earn into ground adjacent to the former Con mine, in the prolific Yellowknife mining camp. Gold Terra executive chairperson Gerald Panneton said the agreement with... 

Gold Terra to earn into ground adjacent to Con mine
Photo by Alan Sim (via Flickr)
The Con mine, in the Yellowknife mining camp.

Carnaby shakes the tin for exploration work

By: Esmarie Iannucci     9th September 2020 Junior Carnaby Resources will raise A$4-million through a share placement and share purchase plan (SPP) to fund exploration work in Western Australia and Queensland. The bookbuild for a A$3-million share placement has been completed, with Carnaby expected to raise an initial A$2.6-million... 

Xtract’s Eureka exploration confirms strike extension

By: Donna Slater     8th September 2020 Exploration pitting works at Xtract Resources’ Eureka copper/gold deposit, in Zambia, has confirmed earlier modelling of a strike extension to the northwest. Earlier three-dimensional modelling on the Eureka main pit copper/gold deposit suggested that the mineralisation might extend towards the... 

Armadale submits Esia for Tanzanian graphite project

By: Donna Slater     8th September 2020 Aim-listed investment group Armadale Capital has submitted the environmental- and social-impact assessment (Esia) for its Mahenge Liandu graphite project in south-east Tanzania to the National Environment Management Council (NEMC) of Tanzania.
 The Esia application for the project was submitted... 

Ridgeline Minerals wins Mines and Money junior pitch battle

By: Donna Slater     4th September 2020 Nevada-based junior gold explorer Ridgeline Minerals won the pitch battle during the Mines and Money Online Connect webinar series, hosted from August 31 to September 3. The pitch battle involved five junior mining companies, who pitched a project of their choice to five investment judges. Each... 

IGO to spend A$57m on Fraser Range tenements

By: Esmarie Iannucci     4th September 2020 Metals miner Independence Group has struck an agreement with ASX-listed junior Boadicea Resources for the conditional sale of nine Fraser Range tenements at a potential sales price of A$57-million plus royalties. The transaction will include a A$5.5-million up-front, non-refundable cash payment... 

Trilogy Metals appoints exploration VP

By: Creamer Media Reporter      4th September 2020 Toronto-listed explorer Trilogy Metals has appointed Richard Gosse as VP exploration, effective immediately. Gosse is a seasoned exploration geologist with 35 years of experience, including 15 years at the VP level, providing leadership to exploration teams with track records of discovery and... 

Company patents extraction method

4th September 2020 Canadian-listed rare earth clean technologies developer Geomega Resources’ patent application US15/578,498 titled, ‘A system and a method for metallurgical extraction of rare earth elements (REE) and niobium’, was approved by the United States Patent and Trademark Office in June. 

Company patents extraction method
IT IS CHEMICAL A total of 58 kg of regenerated HCl is to be used per metric ton of ore to extract REE and niobium

Local value chain should include TiCI4, powder

4th September 2020 A PhD study on developing a roadmap for the South African titanium metal industry indicated that the South African titanium metal value chain should be expanded to include local TiCl4 and titanium metal powder production. The study was conducted at the Graduate School of Technology Management, at... 

Local value chain should include TiCI4, powder
COMPLETING THE FLOW With South Africa being one of the largest producers of mined titanium, rutile and ilmenite, many would assume that the country has a thriving titanium industry

Pilot delivers powder production

4th September 2020 Metals and rare earth processor Australian Strategic Materials (ASM) joint venture (JV) partner South Korea’s Zirconium Technology Corporation (ZironTech) has produced high purity (99.83%) titanium metal powder through its new electrorefining process at the commercial pilot plant in South Korea. 

Pilot delivers powder production
HEAVY METAL ASM will focus on the production of dysprosium, praseodymium and zirconium metals in August

Elandsfontein water licence appeal hearing postponed

By: Tasneem Bulbulia     3rd September 2020 Aim-listed Kropz has advised that the appeal hearing against the Elandsfontein project's water-use licence (WUL), which was due to reconvene on September 3, has been postponed. The company says it will provide shareholders with an update on the final hearing dates once it has been notified by the... 

Austral targets Revelo

By: Esmarie Iannucci     3rd September 2020 ASX-listed and TSX-V listed Austral Gold has made moves to acquire TSX-V-listed Revelo Resources Corporation, with the two companies striking a conditional non-binding letter of intent (LoI). It is proposed the each Revelo shareholder would be given 0.9184 common shares in Austral for each... 

Skaergaard deal gets approved

By: Esmarie Iannucci     2nd September 2020 The Greenland government has approved the transfer of ASX-listed Platina Resources’ Skaergaard exploration license to Canadian-listed Major Precious Metals Corporation. Platina in June this year struck an agreement to divest of the Skaergaard project for C$0.5-million in cash and 55-million... 

Rio Tinto starts drilling at Saskatchewan copper project

By: Creamer Media Reporter      2nd September 2020 Rio Tinto Exploration Canada (RTEC) has started drilling at TSX-V-listed Forum Energy Metals’s Janice Lake sedimentary copper/silver project, in northern Saskatchewan. A rotary air blast (RAB) drill is on site and has started investigating historic and newly mapped regional copper showings, as... 

Greenland announces mineral licensing amendments

By: Creamer Media Reporter      1st September 2020 The government of Greenland has announced two major amendments to the country’s mineral licensing standard terms and conditions, including the postponement of the transferred outstanding yearly exploration obligations for all mineral exploration licences by one year. The government also extended... 

Greenland announces mineral licensing amendments

Trillium buys project in heart of Red Lake camp

By: Mariaan Webb     1st September 2020 TSX-V-listed Trillium Gold Mines on Monday announced that it would acquire an 80% shareholding in the Gold Centre property, which lies in the shadow of the headframe of Evolution Mining’s Red Lake mine, in Ontario. The property is contiguous with Evolution’s operating property and comprises 258... 

Avira exits Qld exploration

By: Esmarie Iannucci     1st September 2020 Junior Avira Resources has struck a term sheet with TSX-listed EMX Royalty Corp to divest of its remaining Queensland exploration tenements. Under the terms of the agreement over the Yarrol and Mt Steadman tenements, EMX would pay an option fee of A$5 000 to secure a 60-day exclusivity period to... 

Court action to delay drilling, says Los Andes

By: Creamer Media Reporter      31st August 2020 Drilling at the Vizcachitas project, in Chile, could be delayed by between six and eight months, owing to court action, TSX-V-listed Los Andes Copper said on Friday. Ultimately, it could delay the prefeasibility study, the company stated. 

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