Public Company News

Black Rock Mining is a step closer to developing its mammoth Tanzanian graphite mine, inking a framework agreement with a Chinese firm to act as head EPC contractor. A deferred payment schedule will result in over 30% of the contract being paid only after the plant passes certain performance hurdles. The agreement is with Chinese Government-owned China Railway Seventh Group Co.

Mid-tier, ASX-listed gold developer, Horizon Minerals, is continuing to scrub up its Boorara gold project with exciting pockets of high-grade ore just 10km east of the Kalgoorlie super-pit. After 18 kilometres of infill drilling, some excellent assays from parallel mineralized lodes have been identified at the Regal and Crown Jewel deposits with individual assay grades as high as 12.62 grams per tonne gold.

Big River Gold is looking to lock down a finance package for its 100%-owned Borborema gold Project in Brazil that boasts a 2.43 million-ounce resource and a reserve of 780,000 ounces at a grade of 1.22 grams per tonne gold. The project is showing an initial projected mine life of ten years and solid economics at a gold price of US$1,400/oz.

Dual-listed Adriatic Metals was always going to have a problem at its Vares multi-metals project in Bosnia – but it is a nice problem to have. With such a smorgasbord of different high-grade minerals present at Vares, Adriatic’s biggest problem is working out which metals will lead the project economics, which will be mere credits and which ones will gel together well metallurgically to produce highly payable concentrates.

King River Resources’ plans to push its giant Speewah vanadium-titanium-iron deposit in Western Australia towards a definitive feasibility study have taken a strategic change of direction. The company is now firmly focusing on the opportunity around the aluminium oxide that is also contained within the deposit. Test work is pointing towards a small-scale start-up operation with a view to creating early cash flows from converting the aluminium oxide to high purity alumina.

Drilling at Ora Banda Mining’s Davyhurst gold project in WA has provided a substantial boost to the company’s confidence in its Waihi deposits with new assays showing a haul of impressive results including a 34-metre intercept grading 3.8 grams per tonne gold from just 30m. After a difficult period under previous management, Davyhurst looks to be on a solid footing now. A resource update is expected soon.

Classic Minerals has continued its newfound success at Forrestania in WA with a 71% resource boost to one of its deposits. The Lady Ada deposit now stands at 1.35 million tonnes grading 1.38 grams per tonne for 59,700 ounces of gold. The broader project at Forrestania now holds 311,050 ounces of gold. Classic’s Forrestania gold project is located about 120km south of Southern Cross.

Medicinal cannabis company, MGC Pharmaceuticals, has inked a new supply agreement that will generate an immediate revenue stream from THC Global Group Limited who will white label MGC’s pharmaceutical-grade phytocannabinoid, or “CBD” products to the Australian and New Zealand markets. The products will be sold under THC’s “Canndeo” brand and are not expected to compete with MGC’s existing cannabis-based product lines.

ASX-listed PolarX’s Alaska Range project in the US is starting to look interesting with recent boots on the ground work identifying a potential 600-metre extension to the Zachly East Skarn, which already plays host to a one kilometre long mineralised system and a resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver, right from surface.

The Grace prospect is holding up as potentially a stand-alone discovery for JV partners, Rox Resources and Venus Metals, with assay results hot off the press of 8m going 37.25g/t, including a 4m zone grading 73.81g/t gold from 48m. Rox and Venus recently identified Grace at their Youanmi South project in the Goldfields, a prospect that literally sits right between the historically mined Youanmi pit and the mothballed mill.

Blackstone Minerals has revealed the most impressive drill result to date at its Ta Khoa nickel project in Vietnam with 60m grading 1.3% nickel and another 11.9m at 1.09% nickel contained within another 142m intersection further down in the same drill hole at the King Cobra prospect. The 60m intersection also showed 0.22% copper and 0.29g/t PGM plus gold.

After lighting a fire under its Chilean Cortadera copper-gold project in late 2019, the first intersection in the latest step-out drilling program for Hot Chili has continued the company’s extraordinary run of ultra-deep drilling success. Latest numbers include a 649m mineralised zone going 0.4% copper and 0.1g/t gold. The latest hole in the current eight-hole program also intersected 440 meters grading 0.5% copper and 0.2 g/t gold.