Please be aware that the information provided is a summary of select releases made to the ASX, as evaluated and interpreted by ASX Briefs. It is important to thoroughly read the entire original release before forming an opinion, rather than relying solely on the brief overview presented here. ASX Briefs is not associated with the ASX. ASX Briefs is an experimental AI project incorporating chatGPT, and as such, does not guarantee the accuracy of the information provided.
Tambourah and Sociedad Quimica y Minera de Chile S.A. (SQM) have entered into an exploration earn-in agreement for six Tambourah projects in Western Australia, including Julimar Nth, granting SQM the right to earn up to a 70% interest.
SQM commits to funding between $1.5m to $3m for exploration and development activities in these projects, and will also reimburse Tambourah $350,000 for previous expenses.
SQM's investment is seen as endorsing the lithium potential of Tambourah's Julimar Nth Project, emphasizing its prospectivity for Lithium exploration.
Critical Metals Corp. has signed a share subscription facility agreement with Global Emerging Markets (GEM), which provides up to US$125.0M in transaction funding. This will be used primarily for the development of the Wolfsberg Lithium Project in Austria.
This funding, combined with a recent deal with the Saudi Arabian-based Obeikan Investment Group, means that Critical Metals and European Lithium have secured around 65% of the total expected capex for the Wolfsberg project. This brings them closer to their goal of being Europe's first local producer of lithium spodumene for green energy transition.
Assuming no further redemption by public stockholders of Sizzle Acquisition Corp. in connection with its shareholder vote to approve the transaction, Critical Metals is expected to have access to approximately US$175.0M in transaction proceeds. This includes the GEM finance package and existing cash reserves.
Arcadia Minerals Ltd has commenced construction and machinery purchase for its Swanson Tantalum/Lithium project in Namibia, facilitated by an agreement with Hebei Construction for the construction of a plant, infrastructure, and the execution of mine development.
Despite media articles suggesting that the Namibian government's ban on the export of certain unprocessed, critical minerals would affect Arcadia Minerals, the company has clarified this impression is incorrect, as they do not intend to export unprocessed crushed ore and have plans in place for ore processing.
Arcadia Minerals highlights that many countries have implemented similar bans to ensure beneficiation and value addition to raw ore in the country of origin before exporting for other uses, implying that the Namibian ban aligns with global practices.
True North Copper Limited's first drill hole in the Mt Oxide Project has intersected wide zones of visually impressive copper mineralisation at its 100% owned Vero copper-silver resource.
The drilling program, the first significant exploration since 2012, is aimed at increasing confidence, expanding the extent, and improving the grade of the resource.
Sample from the first drill hole has been sent for analysis, with results expected in approximately 4 to 6 weeks, in hopes to advance scoping and feasibility studies by offering samples for metallurgical testing.
Discovery hole GCMDD003 at the Emperor target has intersected up to 280m thick Graphitic Schist, marking a significant extension to the high-purity Emperor deposit and a previously undiscovered repeat of the known mineralised package.
The repeat mineralised package could substantially expand the resource, with the Emperor now boasting over 1km in strike, 250m in width, and up to 300m thickness, promising a significant bulk mining opportunity unparalleled to other similar deposits.
Along with the discovered repeat mineralised package, there is also further potential held at the interpreted extension of the Emperor fold hinge limbs, open to both the east and west. The deposit has been hydrothermally upgraded to produce ultra-low impurity premium flake, contributing to its uniqueness.
Boadicea Resources Ltd has successfully completed its pro-rata renounceable rights issue, raising $2,155,609 before costs. This involved issuing 43,112,180 new shares and 21,556,090 new options to eligible shareholders.
The company's directors and management showed their support by taking up their entitlements and participating in the shortfall, demonstrating confidence in the company's future.
The funds raised will provide financial leverage for the company to advance its planned exploration on lithium tenements and other projects as outlined in the prospectus.
Critical Resources Limited has intersected 74.4 meters of spodumene-bearing pegmatite at its Mavis Lake Lithium Project in Ontario, Canada during its summer 2023 resource extension drilling program. This is the widest interval of spodumene mineralization recorded to date.
Drill hole MF23-207 intercepted the pegmatite outside the current Mineral Resource envelope, offering a potential significant increase in total Resource tonnage. The extension drilling will continue in the coming months to further upgrade the Resources.
Assay results are expected within 6 to 8 weeks, while planning continues to drill test the Gullwing and Tot Lakes pegmatites contiguous to the Mavis Lake tenements.
The new Mineral Resource Estimate (MRE) for the Briggs Copper Project reveals an Inferred Mineral Resource of 415Mt at 0.25% Cu and 31ppm Mo, containing 1.0 million tonnes of copper metal and 28.6 million lbs of molybdenum.
Briggs Copper Project is now among the top 10 largest undeveloped copper projects in Australia, with significant copper-in-soil anomalism areas outside the MRE yet to be drilled.
Drilling will resume in early Q3 2023 to target further extensions of the mineralisation and to assess multiple higher-grade zones in more detail, suggesting potential for the MRE to grow substantially with further drilling.
Pacific Edge is relieved by Novitas1 and First Coast's decision to delay the implementation of the Local Coverage Determination (LCD, L35396) that would have ceased Medicare coverage for Cxbladder in the US on 17 July 2023.
The LCD will not proceed as planned and will undergo the LCD process again with an open meeting and public comment period, although no specific timeline for this process has been set as of now.
Pacific Edge CEO Dr. Meintjes affirms their support for only paying for genetic testing services that are analytically valid, clinically valid, and clinically useful in the Medicare program, and promises to provide updates on the Medicare coverage status for Cxbladder as more information becomes available.
The Briggs Copper Project has received a new Mineral Resource Estimate, comprising an Inferred Resource of 415Mt @ 0.25% Cu + 31 ppm Mo, containing approximately 1 million tonnes of copper metal and over 28.6 million lbs of molybdenum. This places Briggs among the top 10 largest undeveloped copper projects in Australia.
The estimate covers the Northern Porphyry and Briggs Central, which are still open in all directions, while extensive areas of significant copper-in-soils anomalism outside the estimation are yet to be drilled. The Southern Porphyry Target isn't included in the estimation.
Further drilling is set to resume in early Q3 2023, with a focus on extending the mineralization and a more detailed assessment of multiple higher-grade zones. The Mineral Resource Estimate is likely to significantly increase with further drilling.
Venus Metals Corporation Limited's Youanmi Lithium Project has discovered a strong lithium anomaly in the south of E57/1078. It is located near a pegmatite trap zone which could indicate the presence of pegmatite-hosted Lithium-Caesium-Tantalum (LCT) mineralization in an area not previously explored for such mineralization.
The lithium anomaly, measuring roughly 1.4km x 0.4km and with a maximum lithium concentration of up to 305 ppm, remains open to the south and east. It is located within the granite-greenstone contact zone of the southern Youanmi greenstone belt, with pegmatite outcrops identified within and around the lithium-anomalous area.
Immediate follow-up field work will involve mapping and rock chip sampling of outcropping pegmatite, and further soil sampling east and south of the lithium anomaly to explore its full extent. Furthermore, reconnaissance geochemical surveys are planned along the pegmatite trap zone and granite-greenstone contact zones along the southern Youanmi Greenstone Belt.
Cygnus Metals Limited has achieved the first payment milestone under its earn-in agreement for the Pontax Lithium Project with Stria Lithium Inc., earning 51% of the project.
The C$2 million due for this milestone will be paid in Cygnus ordinary shares, contributing to a positive cross-ownership agreement between the two entities.
With this payment settled in shares and $5.4m cash at bank, Cygnus is well funded for their upcoming summer exploration program at their lithium projects in James Bay, Quebec, with a maiden Mineral Resource for Pontax expected late July / early August.
The DigitalX Bitcoin Fund and the DigitalX Fund returned 7.4% and 0.6% respectively for June 2023, outperforming the S&P Cryptocurrency Top 10 Equal Weight Index, which declined by 7.3%. Bitcoin and Ethereum continue to have overweight positions in the DigitalX Fund.
Bitcoin trading volumes surged, with significant inflows following the move by a number of institutions including BlackRock and ARK to file applications for spot Bitcoin ETFs with the US Securities and Exchange Commission.
DigitalX management sold roughly 17% of their Bitcoin holdings in June 2023, when Bitcoin was trading near its 12-month high, as part of a strategic initiative to increase working capital, manage treasury assets and leverage investment opportunities.
The Biome LiftTM Probiotic clinical trial has been completed, with positive pre-publication results received. This trial investigated the product's potential to reduce depressive symptoms in patients experiencing subthreshold depression.
The probiotic has been found to be effective in lessening depressive symptom severity, reinforcing its benefits and building upon previously collected supporting clinical evidence.
A webinar presenting and exploring these results is scheduled to take place on the 12th of July, 2023 at 9:30am AEST.
The Memorandum of Understanding (MOU) agreements between Avenira, Aleees, and the Northern Territory (NT) Government pertaining to the development of Lithium Iron Phosphate (LFP) battery cathode manufacturing plant in Darwin have been extended. The extensions are until 30 June 2024 for the tripartite agreement, and 30 September 2023 for the Avenira-Aleees agreement.
Avenira and Aleees are jointly planning the development of the LFP battery cathode manufacturing facility, targeting initial production of 5,000 to 10,000 tpa which is expected to scale to 30,000 tpa in Stage 2 and 100,000 tpa in Stage 3. The development leverages Avenira's Wonarah Phosphate Project.
The extensions allow for the NT government to continuously provide support to Avenira and Aleees till the completion of the next stage studies including the BFS. It also enables Avenira and Aleees to accelerate the completion of the long-form licensing agreement to proceed with the next stage studies.
Balkan Mining and Minerals Ltd has received promising preliminary results from its recent soil sampling program at the Gorge Lithium Project in Ontario, Canada, which identified several priority targets that are highly prospective for lithium-bearing pegmatites.
The soil sampling data, combined with previous observation results, has confirmed multiple targets for drill testing, and further supports historical geochemical data. A total of 379 samples were collected in a 0.25km2 area around the Koshman and Nelson occurrences.
Upon completion of the targeted program, the sampling scope was expanded to cover a regional area of approximately 5km2, with assay results from this larger area still pending.
Drilling at the Kiola Project in NSW has lead to the discovery of encouraging copper sulphides intersections and mineralisation typical of a porphyry copper discovery.
Assay results include 43.5m at 0.13% copper from 330m and other significant findings of gold and zinc, indicating a potential for porphyry copper-gold related systems.
The recent drilling has extended the Nasdaq skarn mineralisation, suggesting possibility for future drilling targets in the area.
Helix Resources Limited (HLX) has confirmed the presence of 'conductive' anomalies at both the Quanda and Fiveways high-priority copper targets identified earlier this year, using recently completed ground-based electromagnetic (EM) surveys. These targets are prospective for high-grade copper mineralisation.
The purpose of these ground EM surveys was to confirm the findings of an airborne survey (VTEM) carried out in early 2021 and generate more detailed data for future drill targeting. Four of the five high-priority EM anomalies identified by the VTEM survey have been confirmed, and drilling tests are planned to commence in August.
The discovery follows a similar pattern to the Constellation Deposit discovered by Aeris Resources Ltd in late 2019, which used airborne EM discovery and has since been identified as a 6.7 million tonne Mineral Resource grading 1.9% copper and 0.6 g/t gold. The project is part of ongoing efforts by HLX to discover new copper resources, aided by the company's strong funding and experienced local exploration team.
Morella Corporation announces positive drilling results from the Mallina Project, indicating increased mineralised strike up to 300m with grades up to 1.87% Li2O and new discoveries with up to 1.66% Li2O.
The results have identified previously unknown mineralization areas and extensions to existing ones, suggesting the potential for more lithium discoveries beyond explored areas.
Located in Western Australia, the project is a joint venture between Morella and Sayona Mining Limited, where Morella plans to accelerate additional drilling campaigns due to the promising findings.
Incannex Healthcare Limited has received approval from the Bellberry Human Research Ethics Committee to initiate a bioavailability/bioequivalence (BA/BE) clinical trial for their proprietary drug IHL-42X, aimed at treating Obstructive Sleep Apnoea (OSA).
The trial will involve 116 participants and evaluate the pharmacokinetics and tolerability of the drug, with its results forming a crucial part of future marketing submissions and new drug applications.
The trial will be executed by CMAX Clinical Research in South Australia, managed by Novotech, and will run simultaneously with the pivotal Phase 2/3 trial after Incannex opens an IND with the FDA.
