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News from 17th May, 2023
Mining and Exploration
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HYDRIX LIMITED 🔗 📄 📈
Hydrix Medical enters exclusive sub-distribution agreement with MK Trimedic for the Guardian heart attack alert device in Malaysia. Initial term of four years with potential renewal for two successive two-year periods. Malaysia has approximately 85,000 acute coronary syndrome events annually and the Guardian is approved for marketing and distribution in the country.
DESERT METALS LIMITED 🔗 📄 📈
Desert Metals (ASX:DM1) completes drilling at Belele Gold Project, with assay results awaited Company acquires additional ground in the Meekatharra region for gold exploration Secures exclusive right to option two projects covering 30km of poorly-explored greenstone sequence in Meekatharra
METRO MINING LIMITED 🔗 📄 📈
Metro Mining Limited announces its final investment decision on the expansion to 7.0 Million Wet Metric Tonnes per annum for its Bauxite Hills Mine. The expansion plan includes utilizing an Offshore Floating Terminal (OFT) with increased loading capacity, weather resilience, and entering a 50/50 JV with Louis Dreyfus Ports & Logistics. Expected delivery of the new OFT is in Q4 2023, which could potentially underpin further expansion of Bauxite Hills.
GIBB RIVER DIAMONDS LIMITED 🔗 📄 📈
High grade zinc intersected in recent diamond drilling program, including 4.3m @ 27% Zn. Drilling intersected the 'feeder structure', indicating potential for skarn type and carbonate replacement mineralisation. Pending assay results and further exploration, including a ground-based IP survey, are in progress.
QUEENSLAND PACIFIC METALS LIMITED 🔗 📄 📈
Queensland Pacific Metals (QPM) and Incitec Pivot (IPL) have finalized commercial agreements for the completion of the Moranbah Project acquisition and accelerated gas production growth. Dyno Nobel, a subsidiary of IPL, will provide up to $120m in funding for the development of new infill production wells in the Moranbah Project. QPM Energy and Dyno Nobel have entered into a new Gas Supply Agreement starting in April 2026 upon the expiry of the existing agreement.
BURLEY MINERALS LTD 🔗 📄 📈
Burley Minerals Ltd to raise AUD$4.5m for accelerating Canadian lithium exploration via "flow-through share" placement and private share placement. Funds will be used to speed up drilling at Canadian Tier 1 lithium projects in Quebec, Canada and acquire the Bouvier Lithium Project. Additional exploration and resource drilling activities to be conducted at the Chubb Lithium Project.
STRICKLAND METALS LIMITED 🔗 📄 📈
Impressive high-grade zinc intersected at Iroquois Base Metals Prospect with 4.3m @ 27% Zn. Drilling results indicate strong potential for skarn type and carbonate replacement mineralization. Further assay results and follow-up drill programs are in progress to explore more of the mineral system.
DUKE EXPLORATION LIMITED 🔗 📄 📈
Duke Exploration Limited announces an update on the acquisition of True North Copper Pty Ltd and the related capital raising under a Prospectus dated 3 May 2023. Resolution 5 in the Notice seeks Duke shareholder approval for the Offer to issue up to 280 million shares at an issue price of $0.25, raising up to $70 million (before costs). The final maximum subscription has now been set at $40 million (before costs), comprising an underwritten offer of 140 million shares and a priority offer to eligible Duke shareholders of 20 million shares at $0.25 per share.
PEREGRINE GOLD LTD 🔗 📄 📈
Abundant visible gold observed in three diamond drill holes at the Peninsula Prospect. Gold zones range from 0.15 to 0.20 metres thick, drilling continues east of these holes. Drilling yet to begin at Birdsnest and Tin Can Prospects, planned after completion at Peninsula Prospect.
WILDCAT RESOURCES LIMITED 🔗 📄 📈
Wildcat has entered into a binding agreement to acquire 100% of the Tabba Tabba Lithium-Tantalum Project in Pilbara, WA. Previous exploration focused on tantalum, but recent drilling also discovered high-grade lithium mineralization in the area. The acquisition strengthens Wildcat's already significant landholding in the region and is near major lithium mines and infrastructure.
NORONEX LIMITED 🔗 📄 📈
Results from the diamond hole at Daheim on the Witvlei Project show promising copper intercepts, including 14m @ 1.1% Cu across a broad 135m mineralized zone. Mineralization is structurally controlled, open at depth, and further drilling is required to understand the size of the mineralized zone. Noronex's exploration in Namibia focuses on the underexplored Kalahari Copper Belt, with the Witvlei Project aiming to expand known copper resources.
RHYTHM BIOSCIENCES LIMITED 🔗 📄 📈
Rhythm confirms UKCA Mark certification is complete for ColoSTAT®, allowing it to be marketed and sold within the United Kingdom. The certification enables access to an addressable market of approximately 24 million people aged from 45 to 74. Rhythm expects to make further advances on its market entry into the UK in CY'23.
GOLDEN RIM RESOURCES LTD 🔗 📄 📈
Golden Rim Resources announces gold assay results for 14 RC holes from drilling at the Massan MRE area in its Kada Gold Project in Guinea. Notable gold intersections include 57m @ 1.1 g/t gold from surface, with 3,500m diamond drilling at Bereko and Massan progressing well and 2,351m drilled to date. Massan has an existing Mineral Resource Estimate (MRE) of 930,000oz gold; updated Massan MRE and maiden Bereko MRE on track for delivery in 2023.
MOHO RESOURCES LIMITED 🔗 📄 📈
A recent airborne geophysical survey identified a discrete radiometric anomaly within E63/2163 at the NE of Moho's 100%-owned Peak Charles REE and Nickel Copper Project. The radiometric anomaly suggests a possible carbonatite intrusion, which may contain naturally elevated levels of Rare Earth Elements (REE). Moho has submitted exploration license applications and Programs of Works for reconnaissance drilling at the Gimli prospect to further explore the potential REE deposits.
MATSA RESOURCES LIMITED 🔗 📄 📈
Updated Scoping Study on Devon Pit restart shows potential project cash flow surplus of A$50.4m over 16 months at A$3,000/oz. Production estimate of 250kt at 5.25g/t Au with a recovered ~39koz and all-in cash costs of A$1,613/oz gold. Definitive Feasibility Study (DFS) expected to be finalized by 31 August 2023, with proof of funding by 30 September 2023 and FID expected late 2023.
M3 MINING LIMITED 🔗 📄 📈
M3 Mining completes detailed litho-structural interpretation at Victoria Bore Copper Project, identifying complex geology buried by shallow cover. Nine priority base-metal targets within the Company's tenure show encouraging geological interpretations for potential mineralization. Planned fieldwork aims to evaluate and assess the potential of these high-priority targets.
ASKARI METALS LIMITED 🔗 📄 📈
Drilling intersects 100-metre plus lithium-bearing pegmatites across both tenements of the Uis Lithium Project, Namibia. Broad lithium-bearing pegmatites intersected in ongoing EPL 7345 Phase II RC drilling and Phase I RC drilling assay results reveal evolved granite, high fractionation, and several positive results with open-ended mineralization. Detailed mapping identified significant drill targets at both EPL 7345 and EPL 8535, with planning underway for Phase II RC drilling in EPL 8535.
AVECHO BIOTECHNOLOGY LIMITED 🔗 📄 📈
Avecho has started manufacturing activities for its oral CBD TPM® softgel capsule with US-based Contract Manufacturing Organisation, Procaps Group. Procaps Group will produce up to 290,000 capsules to support Avecho's pivotal Phase III clinical trial for the treatment of insomnia. The successful completion of Avecho's capital raise will allow the company to commence the study when the product is received from Procaps during Q3.
TALON ENERGY LTD 🔗 📄 📈
Path to market secured for Walyering Condensate production with processing services agreement and liquids aggregation agreement executed with Santos Limited. Marketing of condensate expected to generate more than A$10m in revenue per annum for the project. Construction ongoing with start-up still on track for 1H/23.
NOVA MINERALS LIMITED 🔗 📄 📈
2023 Field Program Outline for Estelle Gold Project released following robust Phase 2 Scoping Study. Helicopters, pad builders, and geologists on site to commence preparation work and pad building for upcoming drill season. Hans Hoffman appointed as full-time Head of Exploration, focused on improving mine feed grade and overall project economics.
MAGNIS ENERGY TECHNOLOGIES LTD 🔗 📄 📈
iM3NY signs JV Agreement with Omega Seiki Mobility (OSM) for manufacturing and selling lithium-ion battery packs. OSM is responsible for local operation, funding, sales, and marketing, while iM3NY provides technology and expertise. iM3NY holds a 26% interest in the JV company, which will target India, UAE, Bahrain, Kuwait, Qatar, and Saudi Arabia.
IMMUTEP LIMITED 🔗 📄 📈
Eftilagimod alpha (efti) combined with pembrolizumab achieves initial median Overall Survival of 25 months in 1st line non-small cell lung cancer patients with >1% PD-L1 expression in Phase II TACTI-002 trial. Data Monitoring Committee recommends extending overall survival follow-up collection to show mature 3-year and potentially 5-year survival rates. More mature Overall Survival data and additional efficacy and safety results to be presented at a major medical conference in H2 CY 2023.
HAVILAH RESOURCES LIMITED 🔗 📄 📈
Exploration drilling funded by OZ Minerals under the Strategic Alliance has found encouraging copper, critical minerals, and uranium mineralization at Johnson Dam prospect. Appreciable amounts of copper, cobalt, rare earth elements, and uranium were identified in several drillholes. Johnson Dam prospect is in proximity to the Kalkaroo deposit and has over 3 km of unexplored strike, making it an attractive location for exploration.
ARCADIA MINERALS LIMITED 🔗 📄 📈
Stratigraphic Drilling at Bitterwasser leads to the discovery of lithium mineralized brines and shallow clay formations. Lithium concentrations in brines up to 31ppm measured, and basalt basement confirmed to be up to 100m depth. Specialist sonic drilling operations aimed to test average lithium grade to commence by the end of August 2023.
ELIXIR ENERGY LIMITED 🔗 📄 📈
Elixir Energy Limited received an Advanced Finding from the Australian Government for the Daydream-2 project, qualifying for the R&D Tax Incentive. Government to fund 43.5% of qualifying well costs for the project. Detailed technical presentation on the Grandis Gas Project made at the APPEA Conference.
ANTERIS TECHNOLOGIES LTD 🔗 📄 📈
Anteris Technologies granted an additional utility patent for its novel DurAVR™ transcatheter heart valve replacement technology. The patent number 11,648,107 expires 12 September 2038 and provides extra IP protection for the innovative design. The newly patented features are expected to contribute to the excellent clinical results of the DurAVR™ THV.
AVITA MEDICAL INC. 🔗 📄 📈
Avita Medical announces their Q1 2023 financial results, reporting $10.6 million in revenue and a net loss of $9.2 million, or $0.37 per share. These company financial results are reported in U.S. dollars, not Australian dollars as previously indicated by a third-party consensus data provider. Avita Medical is a regenerative medicine company focused on the development and commercialization of devices and autologous cellular therapies for skin restoration, notably the RECELL System.
INTERNATIONAL GRAPHITE LIMITED 🔗 📄 📈
International Graphite selects a preferred site in Collie for its battery anode material manufacturing plant. A non-binding memorandum of understanding signed for a lease over 20 hectares of land in the Coolangatta industrial precinct. The lease period will be 20 years with an extension for another 20 years, and the site is strategically located close to the power transmission network.
ENCOUNTER RESOURCES LIMITED 🔗 📄 📈
Jessica copper project is being explored under a Farm-in Agreement with South32 and has been significantly expanded ahead of maiden diamond drilling. Reprocessing of seismic lines has identified additional copper prospects, increasing farm-in tenure coverage to around 10,300km2. Maiden diamond drilling (3,500m) is scheduled to commence in June/July 2023, with South32 funding initial exploration.
AURIC MINING LIMITED 🔗 📄 📈
Full Mine Mining Proposal approved and open-pit gold mining commenced at Jeffreys Find Project. First gold pour expected in early July, with cash flow generation for Auric starting around September/October 2023. Managing Director Mark English lauds the progress made and looks forward to producing gold.
FUTURE BATTERY MINERALS LIMITED 🔗 📄 📈
Diamond drilling at Kangaroo Hills Lithium Project has intersected multiple near-surface spodumene bearing pegmatite in thick widths up to 23.8m. Visual spodumene identified as the dominant lithium mineral in fresh rock in the diamond core, with drill core set for metallurgical test work and mineralogical assessment. Assays from the diamond drilling program are pending, with further drilling planned to test for strike extensions and regional targets.
PATRIOT BATTERY METALS INC. 🔗 📄 📈
Patriot Battery Metals discovers additional high-grade zone at the Corvette Property in Quebec, Canada, extending the Nova Zone in multiple drill holes. Significant lithium intercepts reported, including 122.6 m at 1.89% Li2O, and 8.1 m at 5.01% Li2O (CV23-138). Assay results for 27 drill holes from the 2023 winter drill program are pending, showcasing potential continuous spodumene-bearing pegmatite.
STRIKE ENERGY LIMITED 🔗 📄 📈
Strike Energy Limited secured a monetisation route for Walyering liquids production via a condensate processing and sales agreement with Santos Limited, providing additional forecast revenues and operating profit from Walyering gas field. Construction is ongoing with startup still on track for 1H/23. About 36.5 PJ of gas is expected to be sold to Santos-WA Limited on a firm basis over a period of 5 years, with the Walyering facility being powered purely by solar and battery storage.
VULCAN ENERGY RESOURCES LIMITED 🔗 📄 📈
Vulcan Energy Resources provides a progress update for its Zero Carbon Lithium™ Project in Germany's Upper Rhine Valley Brine Field. A crystallizer from Novopro has been successfully installed in the Lithium Extraction Optimization Plant (LEOP) in Landau. The project aims to create a domestic lithium industry in Germany and Europe, sustainably producing lithium without the use of fossil fuels.
MAGNUM MINING AND EXPLORATION LIMITED 🔗 📄 📈
Magnum Green Steel USA is collaborating with the West Virginia Department of Economic Development on the Appalachian Iron Project, which has been submitted by U.S. Senator Joe Manchin for Congressionally Directed Spending Request. The project aims to produce net zero carbon green steel by converting waste iron oxide materials from legacy slag dumps into high-value pig iron using sustainably sourced biochar. This may lead to crucial research and financial support for the project, which could create a large number of jobs in West Virginia and potentially eliminate millions of tonnes of carbon emissions per year in the steel and cement industries.
E79 GOLD MINES LIMITED 🔗 📄 📈
Gold, lithium, and base metal targets identified from soil sampling at Jungar Flats, WA. Targets outlined by a successful shallow auger drilling program using the UltraFine+™ analytical technique. Aircore drilling to commence after the completion of the current 20,000m program at Laverton South.
TOUBANI RESOURCES INC. 🔗 📄 📈
Toubani Resources announces Kobada West discovery, a never-before drilled target near Kobada Main deposit in southern Mali. The discovery reveals continuous, near-surface oxide gold mineralization, and is outside the current 3.1Moz Mineral Resource. Recent drilling success supports Toubani's vision of defining a long-life, oxide-dominant project of scale at Kobada.
INVICTUS ENERGY LTD 🔗 📄 📈
Seismic contract for Cabora Bassa Phase 2 exploration campaign awarded to Polaris. Program to acquire minimum of 400-line km 2D seismic data for drill ready prospects. Mukuyu-2 appraisal well remains on track to spud in Q3 2023.
GOLDEN DEEPS LIMITED. 🔗 📄 📈
Two Exclusive Prospecting Licences renewed for key projects in Otavi Copper Belt, Namibia, allowing for new drilling programs and development studies. New diamond drilling programs to test a highly-prospective NSAMT geophysical target 2km southwest of the high-grade Khusib Springs mine. Final results for diamond drillhole KHDD0072 reveal two very thick zones of copper-silver sulphide mineralization, indicating a large mineralized system open for further drilling.
CARBINE RESOURCES LIMITED 🔗 📄 📈
Resource extension drilling at Muchea West Silica Sand Project yields positive results, potentially upgrading and extending the current resource in the MLA. Results confirm grades from previous drilling, with high-grade intercepts recorded. 58 hand auger holes drilled, with the company continuing to progress study work, surveys, and resource growth as the Mining License Application process proceeds.
OCTAVA MINERALS LIMITED 🔗 📄 📈
Maiden lithium drill program commenced at the Pinnacle Well lithium prospect at Talga Project in the Pilbara. Drilling program will test the large anomalous lithium halo at Pinnacle Well, including a large 1.5km pegmatite containing visible lithium minerals. Further positive results received from Nimerry rock chip samples confirming additional lithium bearing pegmatites.
BUXTON RESOURCES LIMITED 🔗 📄 📈
An excellent 92.1% recovery into 96.7% TGC con for Bulk Sample #2 Bulk run to generate >10 kg of concentrate commencing this week Preparations underway for a 5,000 metre drill program in June/July
VOLTAIC STRATEGIC RESOURCES LTD 🔗 📄 📈
Drilling at Neo prospect confirms a significant rare earth elements (REE) system with grades up to 10,072 ppm TREO2 (1.0% w/w TREO). Mineralized REE intercepts up to 78m from surface, one of the widest reported in Australia, with a high ratio of in-demand 'magnet' REEs. Large mineralized REE clay system now confirmed at Neo, with metallurgical testing underway and follow-up surveys in progress.
BELARAROX LIMITED 🔗 📄 📈
Belararox Limited (BRX) is set to complete the acquisition of Fomo Ventures No 1 Pty Ltd, the owner of the TMT Project in Argentina. All conditions precedent, including registration and good standing of tenements, have been fulfilled and Board approval granted for security issuance. BRX plans to pursue intensive exploration activities focused on zinc and copper porphyry tenements with renowned geologists Jason Ward and Steve Garwin.
GREENVALE ENERGY LTD 🔗 📄 📈
Test Program Three significantly improved conversion rates and asphaltene/pre-asphaltene contents for the Alpha Torbanite Project. Maximum conversion rates of 67.3wt% for Cannel Coal, 65.9wt% for Torbanite, and 66.3wt% for blended samples were achieved, boosting bitumen production potential for the domestic market. Completion of Test Program Three leads to the commencement of Test Program Four and the eventual delivery of the Pre-Feasibility Study for the Alpha Project.
LEGEND MINING LIMITED 🔗 📄 📈
Diamond drilling has begun at the Octagonal prospect within the Rockford Project, Fraser Range, Western Australia. Drilling is currently targeting Area B, with Area A to follow. Down Hole EM is planned for completed drill holes, with each hole expected to take around four weeks to complete.