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- 05/09/18--16:59: _ White Rock Mineral...
- 05/09/18--17:36: _ Broken Hill Prospe...
- 05/09/18--17:45: _ EON NRG Ltd (ASX:E...
- 05/10/18--16:08: _ White Rock Mineral...
- 05/10/18--16:30: _ Alt Resources Ltd ...
- 05/10/18--16:31: _ Altech Chemicals L...
- 05/10/18--19:43: _ Carnarvon Petroleu...
- 05/10/18--21:02: _ Carnarvon Petroleu...
- 05/13/18--15:27: _ Prospect Resources...
- 05/13/18--15:39: _ DroneShield Ltd (A...
- 05/13/18--16:37: _ Intermin Resources...
- 05/13/18--16:39: _ Mustang Resources ...
- 05/13/18--16:58: _ Alt Resources Ltd ...
- 05/13/18--16:59: _ Ardiden Ltd (ASX:A...
- 05/13/18--17:41: _ Cervantes Corporat...
- 05/13/18--19:42: _ Core Exploration L...
- 05/13/18--23:24: _ Cryptocurrency Exc...
- 05/14/18--16:01: _ Goldfields Money L...
- 05/14/18--16:39: _ Classic Minerals L...
- 05/14/18--16:50: _ Anatara Lifescienc...
- 05/09/18--17:45: EON NRG Ltd (ASX:E2E) Borie Oilfield Enhanced Oil Recovery
- 05/10/18--16:08: White Rock Minerals Ltd (ASX:WRM) Issue of Options
- 05/13/18--16:37: Intermin Resources Limited (ASX:IRC) Investor Presentation May 2018
- 05/13/18--16:39: Mustang Resources Ltd (ASX:MUS) Placement of Shortfall Securities
- 05/13/18--19:42: Core Exploration Ltd (ASX:CXO) Issue of Share Purchase Plan Shares
- 05/14/18--16:01: Goldfields Money Ltd (ASX:GMY) Launch of New Banking Platform
White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to provide an update on its plans to conduct a comprehensive exploration program at its globally significant 100% owned zinc VMS project at Red Mountain in Alaska.
Mobilisation of personnel has been initiated with the first flight from Fairbanks landing into the Newman airstrip, adjacent to the summer field camp (see Figure 1 in link below). This first flight mobilised the crew to establish the camp in readiness for field operations anticipated to commence with two weeks. Over the next two weeks additional crews including the drillers and the field geological crew will continue to arrive in preparation for the drilling, geological reconnaissance and geochemical sampling programs.
It is expected that the geophysics crew (Zonge International) will arrive to commence their on-ground work in mid-June.
White Rock's exploration for the upcoming field season is planned to include:
- A targeted diamond drilling program aimed at in-fill and expansion of the high grade maiden Resource,
- On-ground orientation EM and possibly geochemistry exploration across the two already identified deposits,
- Regional application of the best geophysics and geochemistry exploration tools determined from the on-ground orientation work, and
- A follow-up diamond drilling program on the best of the more than 30 already identified exploration targets.
The drilling campaign will aim to infill and extend the maiden resource which already has two identified deposits (Dry Creek and West Tundra Flats) and a Resource base of 16.7Mt at 8.9% ZnEq (see Note below) including a high-grade component of 9.1Mt @ 12.9% ZnEq (see Note below) (refer ASX announcement 26 April 2017 regarding the maiden Mineral Resource).
This drilling is aimed to follow-up on drilling last done in the 1990s, which included
68.9m @ 4% Zn, 1.8% Pb, 58g/t Ag and 0.3g/t Au (DC98-60),
36.1m @ 6.2% Zn, 2.5% Pb, 183g/t Ag and 1g/t Au (DC98-40) and
12.5m @ 12.5% Zn, 5.5% Pb, 160g/t Ag and 1.1g/t Au (DC97-04).
(refer ASX Announcement dated 15 February 2016 "White Rock Minerals proposes to acquire VMS project in Alaska".)
MD & CEO Matt Gill said "A lot of preparation has gone into planning for the commencement of field activities as early as possible in the 2018 field season. It is great to see all the hard work coming together as field crews begin to mobilise with first drilling expected to be underway within two weeks. There is a real sense of anticipation that the on-ground geochemistry and geophysics teams, combined with drill testing could yield additional high grade zinc deposits that catapult the project to the next stage and realise White Rock's aspiration to develop a new mine. This is an exciting time for White Rock".
Note: ZnEq = Zinc equivalent grades are estimated using long-term broker consensus estimates compiled by RFC Ambrian as at 20 March 2017 adjusted for recoveries from historical metallurgical test work and calculated with the formula: ZnEq =100 x [(Zn% x 2,206.7 x 0.9) + (Pb% x 1,922 x 0.75) + (Cu% x 6,274 x 0.70) + (Ag g/t x (19.68/31.1035) x 0.70) + (Au g/t x (1,227/31.1035) x 0.80)] / (2,206.7 x 0.9). White Rock is of the opinion that all elements included in the metal equivalent calculation have reasonable potential to be recovered and sold.
To view figures, please visit:
Matt Gill (Managing Director & Chief Executive Officer) Or Shane Turner (Company Secretary) Phone: +61-3-5331-4644 Email: email@example.com WWW: www.whiterockminerals.com.au
Broken Hill Prospecting Ltd (ASX:BPL) (OTCMKTS:BPLNF) provides the Company's latest presentation at Resources Round Up Conference.
Thackaringa Cobalt Project
- Thackaringa Cobalt Project JV with Cobalt Blue (ASX:COB).
- BPL have 49% beneficial & 100% legal interest
- 2017 Scoping Study completed -robust project demonstrated
- Major increase in resource delivered in March 2018: 72Mt @ 852ppm Co (61,500t Co)
- PFS expected by June 2018 -major Company re-rate
- First class infrastructure, pro-mining local community and supportive Government
- Thackaringa JV provides significant upside exposure for BPL
o $10.9M earn-in by COB underway
o $7.5M cash to BPL on development
o 2% net smelter return royalty to BPL
o Retention of base & precious metals (lead, zinc, copper, silver and gold) by BPL
Thackaringa -Base/Precious Metals
- BPL retains all lead, zinc, copper, silver and gold mineralisation
- Numerous high quality, under-explored base and precious metals prospects
- Geophysics, Mapping and Sampling programs late 2017 -highlights anomalous base and precious metals up to 7.5% copper and 5.9% lead with high zinc, silver and gold
- 2018 field program to aggressively advance these 100% BPL prospects for Broken Hill style deposits.
To view the full presentation, please visit:
Broken Hill Prospecting Ltd Trangie Johnston, CEO T: +61-2-9238-1170 WWW: www.bhpl.biz
EON NRG Ltd (ASX:E2E) (OTCMKTS:ICRMF) is scheduled to mobilize a workover rig to the North Borie Muddy Unit (Cheyenne, WY) next week to commence the Enhanced Oil Recovery (EOR) program within the Muddy J formations. The project will be a water flood utilizing one injection well and five active receiver wells once the workovers are finalized.
Water will be injected into the formations to support reservoir pressure and to move additional oil within the reservoir toward adjacent receiver wells (secondary recovery). The produced water will then be recycled and reinjected through existing surface facilities and injection pumps.
The North Borie Muddy Unit has only produced 1,500,000 barrels of oil out of the estimated 8,000,000 barrels of original oil in place (OOIP) within the Second and Third Muddy J formations. Primary recovery generally recovers approximately 10-20% of original oil in place, depending on reservoir characteristics, while secondary recovery (water flooding) can increase recovery to 30% of original oil in place.
The EOR program will utilize polymer gels and/or surfactants, which can increase oil recovery by an additional 10-30% by improving sweep efficiency in the reservoir.
The EOR process is expected to have long term benefits to the fields production profile. The Borie Field produces oil which is currently benefitting from higher WTI prices. The company will update the results of the secondary recovery once results are established.
To view figures, please visit:
Simon Adams CFO/Company Secretary Phone: +61-8-6144-0590 Email: firstname.lastname@example.org John Whisler Managing Director Denver Head Office: +1-720-763-3183 Email: email@example.com Website: www.eonnrg.com Twitter: @EonNRG
White Rock Minerals Ltd (ASX:WRM) wishes to advise today that a total of 79,912,067 unquoted options to subscribe for White Rock ordinary shares have been issued to Shareholders who participated in the Placement on 28 March 2018. This issue of options was approved at the Company's General Meeting on 4 May 2018.
The options are issued subject to vesting immediately, at an exercise price of $0.02, expiring 26 March 2021.
An Appendix 3B for the issue of new options is attached.
To view the release, please visit:
Matthew Gill (Managing Director & CEO) Phone: +61-3-5331-4644 E-mail: firstname.lastname@example.org Shane Turner (Company Secretary) Phone: +61-404-033-450 Website: www.whiterockminerals.com.au
The Board of Alt resources limited (ASX:ARS) (Alt or the Company) is pleased to announce the completion of the acquisition from Latitude Consolidated Limited (LCD) of the Mt Ida South and the Quinns Mining Centre tenement assets now known as the Mt Ida Gold Project by satisfying all terms of the Heads of Agreement made between the Company and LCD on 16 January 2018(see Note below).
Key Terms of Agreement
Under the Heads of Agreement (HOA) executed between Latitude and Alt, Alt will meet the following conditions in order to acquire Latitude's interests in the Mt Ida Gold Projects:
- Make a cash payment of $400,000 to LCD within 7 days of signing the Agreement;
- Issue $750,000 in tradeable fully paid ordinary ARS shares at a deemed price of 6 cents for a total of 12,500,000 shares, with a voluntary escrow period of 6 months from date of issue. The issue of shares pursuant to the acquisition of the LCD assets is subject to shareholder approval;
- Grant options to the value of $250,000 over fully paid ordinary ARS shares, being 3,125,000 options, with each option having an exercise price of 8 cents and exercisable for 3 years from date of issue; and
- Make a cash payment of $600,000 to LCD on or before the 30th April, 2018; and
Alt entered into a binding Heads of Agreement with Latitude Consolidated Ltd on 16 January 2018 to acquire the Quinns and Mt Ida South Projects ( held 100% by LCD), as well as LCD's interest in the Mt Ida Joint Venture ( held 80% by LCD). The exploration package fully encompasses the Bottle Creek Gold Project mining leases, thus considerably expanding Alt's landholding in this area, and opening up significant exploration and development potential for the Company and shareholders.
The Mt Ida Gold Project now consists of an exploration tenement package encompassing the Mt Ida and Ballard Faults (see Figure 1 in link below). The Mt Ida Fault and associated splays host mineralisation at the Bottle Creek Gold Mine. The Ballard Fault and associated splays is host to a nearcontinuous mineralised sequence, including known JORC resources at the Quinns Project (including the Matisse and Quinn Hills deposits, and the Quinns Mining Centre) in the north, and the Mount Ida South Project (including the Spotted Dog and Tim's Find deposits) in the south (see Figure 1 in link below).
As previously announced the Mt Ida Gold Project contains the Quinns Mining Centre and the Tims Find prospects which contain a JORC 2012 compliant resource comprising 1.24 Mt @ 2.5 g/t Au for 97,300 oz Au.(see Note below) In addition, numerous historical prospects and workings exist along the known mineralised trend, and represent excellent shallow, walk-up drill targets as the Company expands its exploration operations into these newly acquired areas.
To view figures, please visit:
James Anderson CEO Alt Resources Ltd E: email@example.com Peter Taylor Investor Relations E: firstname.lastname@example.org M: +61-412-036-231
Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has received an indicative mezzanine debt term sheet for up to US$ 120 million from an international investment bank, for its proposed Malaysian high purity alumina (HPA) plant and associated kaolin mine in Meckering, Western Australia (the Project).
- US$120 million indicative mezzanine debt term sheet received
- Follows extensive preliminary project due diligence
- Global investment banking group
On 2 February 2018 the Company announced that it had executed commitment and final terms for a US$ 190 million senior debt package with German government-owned KfW IPEX-Bank. Since then, the Company has been working with a number of advisors to secure the balance of funds for the Project, which is one of the conditions precedent to draw-down on the senior debt. One of the work streams being pursued by the Company and its advisors is a mezzanine debt facility of up to US$ 120 million, which will be subordinate to the senior debt.
The Company has now received an indicative mezzanine debt term sheet from a global investment bank equal to US$120 million, representing a facility amount of US$ 90 million plus accrued interest during construction and plant commissioning. The investment bank has already conducted extensive preliminary due diligence on the Project, including accessing the Company's data room, which contains detailed project information and various due diligence reports commissioned by the senior lender, KfW IPEX-Bank.
The investment bank is a diversified financial services group with a global presence and more than US$ 300 billion in assets under management. As is customary with these types of transactions, the public disclosure of the bank's name and the proposed lending terms remain confidential at this point in time. The Company expects similar term sheets from other potential lenders currently in due diligence and evaluation during the course of the month.
Altech managing director Iggy Tan said, "From the outset the Company has been targeting 'vanilla' mezzanine debt from top-tier lenders. This approach does take longer and involves a higher level of scrutiny (due diligence), however securing mezzanine debt from top tier providers will be a far better outcome for the Company and shareholders. We are now starting to see some reward from this strategy and our efforts," Mr Tan concluded.
Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: email@example.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: firstname.lastname@example.org Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: email@example.com
Carnarvon Petroleum Limited ("Carnarvon" or "the Company") (ASX:CVN) (OTCMKTS:CVONF) is pleased to confirm it has successfully raised $16 million (before costs) which will be used to fund drilling of its Buffalo-10 well. Additional funds are expected to be secured through a share purchase offer to existing shareholders to raise up to $4 million.
- Carnarvon successful in capital raise to fund Buffalo-10 well development
- Timing allows commitments to be made now to facilitate drilling in 2019
- Buffalo-10 well to confirm attic oil and mid case volume of 31 million barrels
The share purchase plan is being offered to existing eligible shareholders, so as to allow them to subscribe for new shares in Carnarvon at the same price as shares issued under the placement. Further details regarding the share placement and the proposed share purchase plan is set out in Annexure 1 (see link below).
All capital raised is for the purpose of funding the Buffalo-10 well development and to meet the Company's general working capital requirements.
As reported to ASX on 3 May 2018, the Company is moving quickly to progress the redevelopment of the Buffalo oil field.
The Buffalo-10 well will be the first of three production wells to be drilled in this exciting oil redevelopment project. The current expected timing for drilling to commence on the first well is between March and September 2019 (after the end of the cyclone season).
Amounts raised under the placement and share purchase plan, combined with the Company's existing cash, will underpin the funding of the Buffalo-10 well and enable drilling to occur as soon as practicable.
The Board of Directors of Carnarvon deemed the raising the minimum needed to proceed with the Company's Buffalo and Phoenix project activities in a prudent financial manner.
Carnarvon is currently participating in drilling the Phoenix South-3 well and will soon commence drilling the Dorado-1 well in its Phoenix project. These activities are expected to provide important value opportunities for shareholders in the near term.
Carnarvon Chief Executive Officer, Adrian Cook said: "The Buffalo project has the potential to generate significant value that's ideally suited to Carnarvon in terms of scale, time to first production and overall risk profile.
This capital raise demonstrates our expeditious approach to make this production opportunity a reality for shareholders, particularly as we see oil prices currently strengthening from the recent lows of previous years.
Carnarvon now offers investors two high quality, organically derived projects progressing to commercialisation phases in the near term."
To view the summary of the capital raise and Annexure 1, please visit:
To view Capital Raise Presentation, please visit:
Investor inquiries: Thomson Naude Company Secretary Phone: +61-8-9321-2665 Email: firstname.lastname@example.org Media inquiries: Luke Derbyshire Managing Director Spoke Corporate Phone: +61-488-664-246 Email: email@example.com
Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) is pleased to provide the following update on the drilling of the Phoenix South-3.
The 20" casing has been set and cemented in place, the Blowout Preventer ("BOP") has been installed and pressure tested, and drilling has commenced in 17 1/2" hole.
The well is currently drilling ahead in 17 1/2" hole at 3,114 metres Measured Depth.
It is envisaged it will take around another week to finish drilling this section of hole to approximately 3,700 metres after which 13 5/8" casing will set. A number of hole sections will be drilled prior to the primary Caley target section which is expected to be intersected at a depth of approximately 5,300 metres.
The primary objective for the Phoenix South-3 well is to evaluate the gas and condensate potential of the Caley Member within a large, faulted anti-clinal closure that was partially penetrated with the Phoenix South-2 well.
Phoenix South-2 encountered gas and condensate in the Caley Member but was unable to drill through and evaluate the formation. The Phoenix South-3 well has been optimally designed to penetrate and evaluate the hydrocarbon bearing formations of the Caley Member.
Phoenix South-3 is located around 560 metres North-North East of the Phoenix South-2 well. The well will target a closure that is estimated by Carnarvon to contain a gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate (being 143 million barrels of oil equivalent ("boe"), gross, Pmean) - Refer to ASX Announcement on 28 March 2017.
Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may relate to undiscovered accumulations. These prospective resource estimates have an associated risk of discovery and risk of development. Further exploration and appraisal (including this well) is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.
Project equity Owners: Carnarvon Petroleum 20% Quadrant Energy (Operator) 80%
To view figures, please visit:
Mr Thomson Naude Company Secretary Phone: +61-8-9321-2665 Email: firstname.lastname@example.org
Prospect Resources Ltd (ASX:PSC) (Prospect, the Company) is pleased to announce the appointment of Mr Sam Hosack as Managing Director from 14 July 2018. Prior to 14 July, Sam will be employed by the Company as an executive on a part time basis.
Mr Hosack is a third generation Zimbabwean, residing in Western Australia. He holds a Bachelors Engineering Degree (Hons) from Essex University in UK, MBA from Ashcroft Business School (UK) and respective professional registrations. He has hands on experience in the delivery of large scale mining, power and port projects to market, as well as their operations. For the past 12 years he has been employed by First Quantum Minerals Ltd, primarily in their Projects team, where most recently he has project managed the building of a port (coal offloading and copper loading), 120km 230kV transmission line and a 300MW coal fired powerstation for the Minera Panama Project in Panama. His mining and operations experience in North and Southern Africa, Europe, Australia and Central America will be central in delivering the Arcadia Project and in building Prospect into a diversified mining business.
Hugh Warner, Executive Chairman commented: "Prospect is moving from being an exploration company to a mining company and its leadership team is being expanded to include additional personnel with significant mining operations experience. Sam is one of the leading international mining figures of the next generation. He has built his experience within First Quantum, one of the great international mining companies, whose origins also began in Africa. Sam is a strong leader and team player and he is expected to be pivotal in helping the board take Prospect into the ranks of lithium producer companies."
The key terms of Mr Hosack's appointment are set out in Attachment 1 (see link below).
Resignation of Manana Nhlanhla, non executive director
In line with the above leadership changes, the Company also advises that Manana Nhlanhla has resigned as a director effective today. Manana represents Armoured Fox, one of the Company's early angel investors and substantial shareholders. Armoured Fox's early investments in Prospect came at crucial times in our corporate development and provided Prospect with the financial confidence to achieve what we have to date. The Company would like to thank Manana for her service on the Board and support during her term.
To view the attachment to the release, please visit:
Hugh Warner Prospect Resources Ltd Executive Chairman T: +61-413-621-652 Harry Greaves Prospect Resources Ltd Executive Director T: +263-772-144-669 WWW: www.prospectresources.com.au
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce that the European Hub for DroneShield products, announced to the market on 5 March 2018, has commenced operations.
- DroneShield Hub in Netherlands fully functional, now including jamming capability.
- First government demonstrations scheduled for early June.
- Significant interest across NATO government customers.
The detection capabilities showcased at the European Hub include multi sensor detection incorporating radar and radio frequency direction finder sensors (RadarZeroTM and RfOneTM), complemented by jamming capabilities provided by DroneGun Tactical(TM) and DroneShield's stationary jammer product DroneCannon(TM).
DroneCannon(TM) integrates the existing 2.4Ghz, 5.8Ghz and GPS jamming capabilities, and further two bands, 433Mhz and 915Mhz, matching DroneGun Tactical(TM) jamming spectrum. In response to end-user requirements, the product features an enhanced vertical coverage angle, providing complete vertical coverage of the airspace.
In early June 2018, the European Hub will be holding a demonstration of DroneShield products to various government departments of NATO countries, including military, law enforcement and secret service agencies.
DroneShield will be conducting several additional demonstrations in Europe over the next two months, as part of the procurement processes that it is going through with a number of governmental end-users.
To view figures, please visit:
Oleg Vornik CEO and Managing Director Email: email@example.com Tel: +61-2-9995-7280
Intermin Resources Limited (ASX:IRC) provides the Company's latest Investor Presentation.
- High quality gold assets in the heart of the WA goldfields
- 100% ownership of 650km2 on Bardoc, Abattoir, Ida and Zuleika shear zones -350km2 acquired in last 18 months
- Walk up drill targets for new discovery exploration
- Existing JORC 2012 Resource of 434,000oz grading 2.12g/t
- Comprehensive regional geological database
- Assets close to existing third party milling infrastructure
- Strategic joint ventures in place at no cost to Intermin covering 350km2 in WA and a world-class vanadium resource in Queensland (1,500km2)
- High quality landholding in the Goldfields of Western Australia
- Strong leadership with extensive mining, exploration and corporate management experience
- Generating near-term cash by developing gold projects via third party infrastructure
- Cash and tradeable securities of $11.1M and no debt
- Building a long term gold production profile
- Fully funded 55,000m resource growth and new discovery drill program for 2018 well underway
- Pursuing regional consolidation opportunities of high potential exploration and development assets
- Joint ventures for multi-commodity non-core projects across several regions with quality partners
To view the full presentation, please visit:
Jon Price MSc (Mineral Economics) MAusIMM, MAICD Managing Director T: +61-8-9386-9534 F: +61-8-9389-1597 E: firstname.lastname@example.org W: www.intermin.com.au
Mustang Resources Ltd (ASX:MUS) (OTCMKTS:MTTGF) is pleased to announce that it has placed 21.74 million fully paid ordinary shares at 2.3 cents to raise $500,000 before costs under the recently completed Entitlement Offer.
The placement was supported by sophisticated and professional investors in Australia and overseas, with one Chinese investor subscribing for approximately 50% of the placement.
DJ Carmichael Pty Ltd acted as Lead Manager for the Placement.
Managing Director: Bernard Olivier E: email@example.com M: +61-4-08948-182 T: +27-66-4702-979 Media & Investor Relations: Paul Armstrong E: firstname.lastname@example.org T: +61-8-9388-1474
Alt Resources Ltd (ASX:ARS) (Alt or 'the Company') is pleased to announce more outstanding results from the RC drilling program at the Southwark deposit, Bottle Creek Gold Project, WA. Southwark is an un-mined deposit that lies 1 km to the north of Emu (see Figure 1 in link below). The latest Southwark results continue to reveal a coherent, steeply dipping ore zone which appears to be open and broadening at depth. Gold assays have been received from drillholes SWKRC019 to SWKRC037 with individual assays giving bonanza grades up to 140 g/t Au(see Note 1 below). Significant results are listed in detail in Table 1 (see link below).
- Bonanza grades at Southwark, up to 140 g/t Au
- High grade gold intercepts continue throughout the deposit
- Significant intercepts from Southwark include:
o 21m @ 10.8 g/t Au, including 4m @ 49.0 g/t Au, including 1m @ 140.0 g/t Au
o 16m @ 6.4 g/t Au, including 7m @ 10.9 g/t Au
o 34m @ 3.4 g/t Au, including 3m @ 7.2 g/t Au, 2m @ 13.1 g/t Au, and 2m @ 16.0 g/t Au
o 23m @ 3.2 g/t Au (EOH)
o 8m @ 3.1 g/t Au
o 13m @ 2.8 g/t Au (EOH)
o 36m @ 1.8 g/t Au, including 4m @ 7.0 g/t Au
o 15m @ 1.8 g/t Au, including 3m @ 6.0 g/t Au
o 25m @ 1.7 g/t Au
o 19m @ 1.5 g/t Au
o 33m @ 1.3 g/t Au, including 4m @ 4.2 g/t Au
- Multiple drillholes ended in mineralisation
- Mineralised zones open and widening at depth
- 11,700m RC drilling now completed at Bottle Creek with resource modelling underway
- First diamond drillhole commenced at Emu
The mineralised zone also continues to be characterised by broad, consistently graded zones such as 23m @ 3.2 g/t Au(see Note 2 below). These broad zones are a positive feature for potential future mining operations, ensuring a minimal 'nugget' effect and a more easily extracted bulk target. Assay results show that a number of holes at Southwark have ended in mineralisation. Cross-sections below (see Figure 3-5 in link below) reveal that mineralisation is consistently open at depth along the whole strike length of the Southwark deposit tested in this RC program. Mineralisation appears to be widening with depth, whilst maintaining medium to high grade gold values. This deeper, broader zone will be the subject of further drilling later in the year.
The initial RC drilling program at the Bottle Creek Project has now been completed, for a total of 11,700 m covering 140 drillholes across the Emu and Southwark deposits. Alt has delivered all RC samples to the ALS laboratory in Kalgoorlie for analysis. Results will continue to be processed and announced over the coming weeks.
DDH1 Drilling have arrived onsite and commenced diamond drilling. This is the first diamond drilling program to be conducted at Bottle Creek since 1987. Alt Resources aims to drill diamond tails across several key RC holes which ended in mineralisation, as well as several deeper holes both at Emu and Southwark. This will enable Alt's geologists to better understand the lithological and structural controls on gold mineralisation at Emu and Southwark. Interpretation of the diamond holes will in turn inform geological and resource modelling for the project.
Alt CEO James Anderson said; "The results we are getting at Bottle Creek exceed all our initial expectations for grade and continuity. These results really speak for themselves. On a different note I have to say our people have done an outstanding job delivering nearly 12,000 metres of RC drilling to ALS in 7 weeks. We now have DDH1 onsite getting some core to have a good look at the rocks. There is enough data currently in hand from the RC drilling to suggest Bottle Creek is not simply a supergene gold deposit as previously thought."
Significant gold intercepts from Alt's new drilling at the un-mined Southwark deposit are listed in detail in Table 1 (see link below), and include:
o SWKRC019: 7m @ 1.5 g/t Au from 2m
o SWKRC020: 5m @ 1.7 g/t Au from 2m
o SWKRC021: 5m @ 1.4 g/t Au from 3m
-- and 34m @ 3.4 g/t Au from 35m
-- including 3m @ 7.2 g/t Au from 35m
-- and including 2m @ 13.1 g/t Au from 46m
-- and including 2m @ 16.0 g/t Au from 54m
o SWKRC022: 21m @ 10.8 g/t Au from 49m
-- including 4m @ 49.0 g/t Au from 61m
o SWKRC023: 23m @ 3.2 g/t Au from 77m to EOH
-- and 4m @ 7.1 g/t Au from 79m
o SWKRC024: 7m @ 2.0 g/t Au from 33m
o SWKRC025: 4m @ 1.8 g/t Au from 4m
o SWKRC026: 12m @ 1.43 g/t Au from 47m
o SWKRC027: 16m @ 6.4 g/t Au from 73m
-including 7m @ 10.9 g/t Au from 75m
o SWKRC028: 13m @ 2.8 g/t Au from 41m to EOH
o SWKRC029: 19m @ 1.5 g/t Au from 24m
o SWKRC030: 8m @ 3.1 g/t Au from 52m
-- and 5m @ 2.7 g/t Au from 68m
o SWKRC031: 36m @ 1.8 g/t Au from 23m
-- including 4m @ 7.0 g/t Au from 55m
o SWKRC032: 25m @ 1.7 g/t Au from 36m
-- and 15m @ 1.8 g/t Au from 67m
-- including 3m @ 6.0 g/t Au from 76m
o SWKRC035: 6m @ 1.7 g/t Au from 32m
-- and 7m @ 2.7 g/t Au from 61m
o SWKRC036: 8m @ 1.5 g/t Au from 43m
o SWKRC037: 13m @ 1.0 g/t Au from 45m
o SWKRC038: 33m @ 1.3 g/t Au from 31m
-- Including 4m @ 4.2 g/t Au from 50m
Figure 3-5 (see link below) show cross-sections with new drilling and significant intercepts through the Southwark deposit. The location of new drillholes discussed in this release is given in plan view in Figure 6 (see link below). These sections are located successively north of drilling results announced on the 1st May(see Note 3 below). As a whole these plus the previous sections clearly show the widening of mineralisation with increasing depth. This broadening is not isolated but is a deposit-wide feature. Additional drilling will be planned for later in the year to explore potential beneath the known mineralisation.
Regional Setting and Exploration History
The Bottle Creek gold mine lies 100 km north east of Menzies in the Mt Ida gold belt (see Figure 7 in link below). The gold mine is located on the northern extremity of the Mt Ida-Ularring greenstone belt extending from Davyhurst to Mt Alexander (see Figure 7 in link below). The Ularring greenstone belt forms the western part of the Norseman-Wiluna Province of the Yilgarn Craton. The location of mineralisation and local geology, is shown in Figure 8 (see link below).
During historical operation from 1988-1989, 90,000 oz Au was produced from two open pits (Boags and VB; see Figure 9 in link below). Significant historical drilling along a 9.8 km strike outlined the Emu, Southwark and XXXX deposits. However these were never mined. The historical RC drill fences were spaced at 100m, with infill drill line spacing at 50m and 25m at various locations. The majority of drilling targeted oxide mineralisation and reached no deeper than 80m vertically below surface.
Alt's new drilling results continue to provide confirmation of historical intercepts, improve confidence in historical data, proves the continuity and grade of mineralisation in key parts of the Emu deposit. Further, gold mineralisation appears to continue at depth, with several drillholes ending in mineralisation. Additional drillholes are being planned at Emu and other areas of the Bottle Creek Project to test the continuity of gold mineralisation at depth. RC drilling for resource definition is ongoing.
1 From drillhole SWKRC022, 61-62m, included in 4m @ 49 g/t Au
2 From drillhole SWKRC023, 77-100m
3 See ARS announcement, 1st May 2018: http://www.abnnewswire.net/press/en/93014/
To view tables and figures, please visit:
James Anderson CEO Alt Resources Ltd E: email@example.com Peter Taylor Investor Relations E: firstname.lastname@example.org M: +61-412-036-231
Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) (or "the Company") is pleased to advise of early success as it commences a large-scale mapping and sampling program at the Company's 100%-owned, flagship Seymour Lake Lithium Project in Ontario, Canada.
- 160 targets within Ardiden's recently enlarged project have been identified and will be investigated as part of a regionally extensive mapping program.
- Detailed re-mapping of the North Aubry, Central Aubry and South Aubry pegmatites is in-progress and has already led to new insights that will assist the design of future drilling programs.
- The Ardiden geological team promptly identifies numerous new pegmatite exposures in the new claim areas during the reconnaissance tour for the large-scale field mapping program
- New spodumene bearing pegmatite exposure identified approx. 700m north-east of North Aubry deposit
- Subject to exploration results, the large-scale mapping and sampling program expected to be completed by mid-June
- Ardiden's geological team enhanced with the engagement of pegmatite expert Peter Spitalny
Ardiden recently announced it had more than doubled the size of its Seymour Lake Lithium Project. This action was the result of an assessment to determine the exploration potential of the area to contain significant lithium mineralisation. A large number of anomalous features were identified upon detailed analysis of satellite imagery of the area. These anomalous features have visual characteristics that suggest they may be pegmatites and therefore warrant a more comprehensive investigation.
It was decided that the most effective means of evaluation was the implementation of a large-scale mapping program which would cover most of the ground within the Seymour Lake project. In addition, detailed re-mapping of the North Aubry, Central Aubry, South Aubry and Pye prospects will also be completed, to assist Ardiden the design of future drilling programs.
The field mapping program has already confirmed the presence of an additional spodumene bearing pegmatite, with Ardiden's geological mapping team identifying a pegmatite exposure approximately 700 metres north of the North Aubry deposit.
The pegmatite exposure is approximately 4m wide and 8m long. Initial observations of the pegmatite confirm the presence of large visible spodumene crystals (refer Figure 1 in link below).
Ardiden's geological team, led by pegmatite expert Peter Spitalny, will complete a detailed review and analysis of the identified existing and new spodumene bearing pegmatite exposures, including mapping, sampling and structural interpretation to obtain a better understanding of how the new pegmatite structure relates to the other known pegmatites within the Aubry and Pye pegmatite swarms.
Managing Director Brad Boyle stated the continued identification of pegmatite exposures across the Seymour Lake land holding will play a significant part in increasing the overall scale and size of the project.
"We are extremely happy with the on-going success our geological team are having with the continued identification of a large number of highly-prospective lithium bearing pegmatites. An overall focus of the Company at the present moment is to increase the scale and size of Seymour Lake, and with the addition of Mr Spitalny, we are looking forward to completing this detailed review and identifying targets that will contribute to the strategy that we have in place."
Mr Spitalny is a full-time employee of Hanree Holdings Pty Ltd and has been involved in mineral exploration for more than 25 years, with a partial geological focus on pegmatites and the minerals they contain. Mr Spitalny has been investigating pegmatites since 1990, has investigated more than 20 pegmatite fields in Western Australia resulting in discovery of several lithium pegmatites. He has also completed detailed investigations of LCT (lithium) pegmatites in South America (Brazil and Argentina), Africa (Namibia and the Democratic Republic of the Congo) and in Canada.
Project-wide mapping commenced with a brief reconnaissance tour to identify the best access routes to utilise in the new claim areas, in order to investigate the target areas across the project and during this tour, multiple pegmatites adjacent to the all-weather road were seen along a 4-kilometre interval of the road (see Figure 3 in link below). This brief initial reconnaissance has confirmed that these new 160 target areas are highly-prospective and warrant further detailed study and analysis.
The site conditions are now ideal and assisting the geological team to complete the detailed review and analysis of the 160 highly-prospective target locations across the project. As the snow has just melted, undergrowth has had a limited opportunity to grow, thus allowing the geological team to locate and review the many exposures recently identified in the satellite imagery. Ardiden expects that subject to exploration results, this large-scale mapping and sampling program should be completed by mid-June.
The first day of detailed mapping of the North Aubry, Central Aubry and South Aubry prospects has already led to the recognition of additional potential at these more-advanced prospects. In particular, it has been observed that spodumene is more abundant than some assay results may suggest. This is because some of the spodumene occurs as extremely large crystals (see Figure 4 in link below) that are more sparsely distributed than smaller spodumene crystals. A consequence of this is that drill-holes may pass between the extremely large crystals.
Ardiden considers these early results to be an extremely encouraging start to the field program and looks forward to providing further updates as they come to hand.
To view figures, please visit:
Investors: Brad Boyle Ardiden Ltd Tel: +61-8-6245-2050 Media: Michael Weir / Cameron Gilenko Citadel-Magnus Tel: +61-402-347-032 / +61-466-984-953
Cervantes Corporation Limited (ASX:CVS) (the Company) wishes to advise that its inaugural drilling campaign at the Albury Heath Project has been completed.
- Cervantes has successfully concluded its inaugural drilling campaign at Albury Heath
- The drilling aimed to confirm, better define, and expand the Inferred Gold Resource
- 29 Reverse Circulation (RC) drill holes for 1,882m completed, two more holes than planned
- Gold assaying awaited
The Albury Heath tenement package (P51/2937, P51/2997 - 3001) is located approximately 23 kilometres South East of the mining town of Meekatharra in Western Australia (see Figure 1 in link below).
The Albury Heath Mine is an historic underground operation in P51/2937. Gold mineralisation is hosted by a series of sheeted quartz vein sets, only the highest grade of which was mined previously during two phases of activity. From 1948 to 1957, 1,429 tonnes of ore was extracted at a grade of 42.2g/t gold. A second phase in 1976 extracted 410 tonnes at a recovered grade of 20g/t gold. The project was strategically acquired by the company for its near term production potential.
Continental Resource Management (CRM) estimated a Maiden JORC Resource of Indicated and Inferred Resources of 390,000t at 2.15g/t Au, for a total of 27,000oz of contained gold above a cut-off grade of 0.5g/t Au (Table 1, ASX announcement 7 February 2017).
CRM identified several sampling issues of in-ground voids (historic stopes) that may have an impact on their resource estimate. In addition, possible untested extensions of the mineralisation have been recognised that may lead to additional resource potential.
Collar locations and geometries for completed holes are shown in Table 2 (see link below), while locations are shown in Figure 2 (see link below). The drilling programme assessed the potential gold resource upside by testing:
1) Down dip potential. The mineralisation is open and shows no signs of abating at depth,
2) Up dip potential. Near surface mineralisation has been inadequately sampled in past drilling. Increasing this area of the resource will bolster the economics of open pit mining, and
3) Sampling of the potentially mineralised footwall to historic underground stopes. These were inadequately sampled by past drilling. That drilling indicated that the stopes have an envelope of mineralisation on the hanging wall and also, where tested, on the footwall.
While the results and conclusions from this drilling are yet to be finalised, in-field observations indicate that, at a geological level, the programme's aims were met.
Drill samples are in the process of being prepared for submission for gold assaying. Sample preparation and assaying will likely take in excess of six weeks.
Cervantes will report on the results once they are to hand. Once all relevant information with regard to this drilling campaign is finalised, a JORC Table 1 will be issued.
Geological logging will be incorporated into the model for Albury Heath to better understand both the controls on gold mineralisation and the potential for further expansion of the gold resource.
It is planned, on the basis of assay results, to undertake initial metallurgical testing of the composited material from the mineralised zones defined by this drilling. That work will provide an analysis of gold particle sizing and liberation characteristics to enable an economic model to be constructed.
In addition, re-modeling of the resource estimate may be warranted. There is no guarantee that the current drilling will either increase resource tonnages or gold grade. Any update in the modeled resource may be used to undertake pit design and pit optimisation modeling to further assess the project's economic viability.
Cervantes expects to be in a stronger position to continue discussions with nearby mills regarding toll treatment of the ore from Albury Heath.
To view tables and figures, please visit:
Collin Vost Executive Chairman T: +61-8-6436-2300 E: email@example.com
Core Exploration Limited (ASX:CXO) is pleased to announce that it has issued 15,571,733 fully paid ordinary shares under the Company's Share Purchase Plan (SPP) as announced on 20 April 2018.
An Appendix 3B seeking quotation of the shares is attached to this announcement.
To view Appendix 3B, please visit:
Jaroslaw (Jarek) Kopias Company Secretary Core Exploration Ltd T: +61-8-7324-2987 E: firstname.lastname@example.org www.coreexploration.com.au
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To view the Whitepaper, please visit:
Binance E: email@example.com WWW: www.binance.com Augur E: Team@Augur.net WWW: www.augur.net
Goldfields Money Limited (ASX:GMY), announced today that it has launched its new banking platform utilising international software provider Temenos for its T24 Core Banking, Channels, Analytics and Financial Crime Mitigation solutions. The digital Software as a Service (SaaS) banking platform has been specifically designed to help banking businesses like Goldfields Money compete and thrive in today's rapidly changing environment. The platform is cloud enabled and compliant with Australian ADI requirements, and most importantly has fully integrated, open source API's that allows Goldfields Money to integrate its banking services to a variety of partners, a key part of Goldfields Money's digital distribution strategy. This also allows us to develop and add innovative applications to help customers manage their finances simply and effectively.
The launch is a result of significant investment that the business has made in its people, products and processes over the last two years. It incorporates a new core banking system from Temenos, as well as a finance system from Technology One and a desktop management system upgrade. With this launch, Goldfields Money is moving to a more modern secure platform combining Temenos and other leading banking software service providers. The new platform is designed to enable greater volumes of credit applications and deposits through a cost-efficient and scalable system, enabling growth to be more rapid in an economically viable environment, and offers increased automation to decrease manual processing. Temenos' technology will improve the account opening process for all loans and deposit products, and enables origination for customers across Australia.
In conjunction with the launch of the new digital banking platform, Goldfields Money has also launched a new internet banking and mobile banking app. These enhancements ultimately make managing money on the go simpler, convenient and even more secure for a large number of customers who prefer to do their banking via the internet, on desktop or mobile phone applications.
In commenting on the transition, Goldfields Money CEO, Simon Lyons, said: "This is an important and exciting milestone for the Goldfields Money business. With an increasing volume of business moving online, we are well-positioned to offer our customers a leading edge banking experience. The ability to open deposit accounts in minutes and to accept loan applications 24/7 is a major step forward for our business."
"Whilst most systems are performing as expected, there has been some disruption to some of our customers and we apologise for this inconvenience. Goldfields Money has prided itself on exceptional customer service for over 35 years, and we continue to be available via phone, email or in-branch for any customer questions or requests. This platform will allow our customers to do their banking securely and conveniently online, on mobile or in person."
For further information please contact: Simon Lyons CEO firstname.lastname@example.org Ph: +61-8-9438-8810 For media and broker enquiries: Andrew Rowell Cannings Purple email@example.com M: +61-400-466-226
WA-focused gold exploration and development company Classic Minerals Limited (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has received assays results from its recent RC drilling program at its Forrestania Gold Project (FGP) in Western Australia.
- Compelling new gold discovery at Van Uden West: Results include 12m at 5.75 g/t Au from 59m including 1m at 25.60 g/t Au from 59m in VUWRC002
- New discovery covered by thin veneer of transported sands and clays effectively masking the gold mineralisation from surface detection
- Kat Gap delivers significant high-grade results and remains open along strike: Results include 5m at 14.10 g/t Au from 17m including 1m at 48.40 g/t Au from 20m
- Lady Lila drilling returned excellent results and mineralisation remains open along strike: Better results include 14m at 3.70 g/t Au from 71m including 1m at 13.20 g/t Au from 79m in FLLRC002 and 8m at 3.21 g/t Au from 70m including 1m at 11.40 g/t Au from 72m in FLLRC004
- Cost-effective maiden drilling program (
The Company drilled a total of 11 holes for 750m - 2 holes for 174m at new prospect Van Uden West, 5 holes for 366m at Lady Lila, and 4 holes for 210m at Kat Gap; with the aim of uncovering a new gold system (at Van Uden West) and improving/increasing known mineralisation at Lady Lila and Kat Gap.
Drilling results from Van Uden West confirms the discovery of a significant new zone of gold mineralisation. Preliminary interpretation suggests that the prospect is similar in geological characteristics to Kat Gap with gold mineralisation sitting adjacent to the granite/greenstone contact.
Lady Lila is a BIF hosted gold deposit that is similar in geological characteristics to Bounty and Blue Vein (held by KDR) which are prolific, high grade gold deposits in the region. Drilling at Lady Lila confirmed the existence of a thick, steep east dipping ore zone warranting additional follow up.
Kat Gap contains a shallow unmined gold deposit discovered in the 1990s, which was the subject of resource estimations and scoping study by Sons of Gwalia in 2003. High grade RC drill intercepts include 15 m @ 15.1 g/t Au from 39 m depth and 6 m @ 19.1 g/t from 17 m depth. The open-ended deposit lies within a 5 km long geochemical gold anomaly that has seen very little drill testing, and after this drill program, Classic sees great potential for the discovery of a substantial shallow high-grade gold deposit within the Kat Gap project area.
Drill/assay highlights shown in table below (see link below).
Classic CEO Dean Goodwin said:
First pass regional drilling campaigns don't get any better than this. We encountered thick, high grade zones of mineralisation at each of the drill targets which all remain open along strike with high priority zones requiring urgent follow up. This is a great position for the company to be in: we don't know how big these targets are and can't wait to get stuck back into drilling. The campaign absolutely reinforces how good a project the FGP truly is - our first venture beyond the "flagship" deposits of Lady Magdalene and Lady Ada has been incredibly successful, and we look forward to heading into the next phase of the company's growth and success.
We should also point out that this drilling program, along with all associated assays and additional technical work cost less than $50,000 AUD. This is a great testament to CLZ's "new" approach to exploration planning and spending at FGP - we carefully plan all exploration activities and keep a tight control on costs to ensure shareholder funds are wisely spent with the goal of delivering value to all shareholders.
2. VAN UDEN WEST - A BRAND NEW GOLD DISCOVERY
After extensive field work and reviewing of historic exploration records, the Company deemed its new target, Van Uden West as being a priority. It is surrounded by historic gold mines Van Uden and Teddy Bear and is situated 11km NW along strike from Lady Magdalene and Lady Ada.
The geological setting of Van Uden West is similar to Kat Gap but it has transported cover masking the top 10-20 metres of the potential gold mineralisation. Classics decision to test the Van Uden West target is based upon an anomalous air core drill result from the late 1990's. The target has an excellent structural location on the contact between granite and greenstone and it is the belief of the company that the previous shallow, wide spaced air core holes inadequately tested the target.
Classic is excited to confirm that both holes drilled at Van Uden West intersected significant gold mineralisation potentially striking in a north-west/south-east direction with a shallow easterly dip - mineralisation remains open. Drill highlights include: 12m at 5.75 g/t Au from 59m including 1m at 25.60 g/t Au from 59m.
Classic postulated that the anomalous mineralisation identified in historic air-core drill hole FTBAC037 represented an undiscovered gold zone shallowly dipping to the east. This has been confirmed by the mineralised zone in VUWRC001 which is then shown to continue down-dip into VUWRC002. With the previous aircore drill spacing at least 250m apart, Classic sees excellent potential to build on this zone with follow up drilling planned around the end of June 2018.
The newly discovered gold mineralisation at Van Uden West is completely blind, covered by a thin veneer of transported sands and clays.
3. KAT GAP DRILLING - SHALLOW, HIGH GRADE AND UNDER-EXPLORED
Classic drilled 4 holes for 210m at Kat Gap and is pleased to confirm that two holes (FKGRC001 and FKGRC002) returned gold mineralisation striking in a north-south direction - mineralisation remains open. Drill highlights include: 5m at 14.10 g/t Au from 17m including 1m at 48.40 g/t Au from 20m.
Two holes (FKGRC003 and FKGRC004) were barren - hitting a cross-cutting proterozoic dyke. However, these provide useful information in terms of better understanding local geology and the controls on mineralisation. After this drilling program, Classic's CEO Dean Goodwin believes that the gold is concentrated against the dyke so follow up drill spacings will be relatively close with the aim of getting hard up against the dyke as possible to test that particular theory.
In addition, drill confirmation of the dyke supports geophysical datasets available to the company, meaning that future exploration programs can be planned - making more effective use of modern exploration targeting techniques.
Drilling has shown that primary gold mineralisation is associated with quartz veining developed in granitic rocks at or near to the western granite-greenstone contact of the Forrestania Greenstone Belt. Historical RC drilling is currently on 100m - 200m line spacings. There is strong potential for additional mineralisation to be identified up-dip, down-dip and along strike, both outside of and within the existing RC drill coverage. Only about half of the 5 km long >50 ppb Au gold-in-soil anomaly has been tested by RC drilling along the granite/greenstone contact.
Classic announced in March (see announcement dated 3 March 2018) that it had secured processing rights at Tianye/Minjar's Marvel Loch Processing Plant located ~100km north of the FGP. With this option to monetise its assets in the near term, the company's strategy is to prove near-surface/high-grade gold mineralisation that may present straightforward mining opportunities. The recent drilling at Kat Gap (4 RC holes for total of 210 metres) shows strong potential to prove up a significant high-grade gold zone less than 20m from surface.
There is a further 5 km of strike of prospective granite-greenstone contact along-strike from the Kat Gap zone within E74/467 that has seen little or no exploration.
4. LADY LILA DRILLING - ANOTHER BOUNTY GOLD MINE?
Lady Lila is situated 4km east of Lady Ada and is hosted by a chert/banded iron formation within the younger metasedimentary central zone. Previous drilling is shallow (approx. 50m depth testing) and generally intercepts the mineralised zone only two-three times per section. Additional drilling is strongly recommended and is required to test the orientation, and down dip extension of the mineralisation. The mineralisation at its strongest is 10m wide, over 400m long, and grades between 2.0-5.0g/t Au.
Drilling at Lady Lila was historically on 100m - 200m spaced drill lines. Classic's recent drilling at Lady Lila was focused on extending high grade air-core/RC hits on the 6429860N line. Drilling either side of this section, Classic confirmed mineralisation extending both North and South along strike. Importantly, mineralisation remains open at depth and additional follow up drilling will be undertaken immediately to continue to grow this deposit.
Five holes (FLLRC001 - FLLRC005 inclusive) for 366m were drilled at Lady Lila with all holes intersecting gold mineralisation. Drill highlights include: 14m at 3.70 g/t Au from 71m including 1m at 13.20 g/t Au from 79m.
A cross section of Lady Lila is displayed in Figure 3 (see link below). The present gold mineralisation models indicate a steep easterly dip; future drilling will be to test a possible vertical dip, as gold deposits in the area have been known to steepen at depth (e.g., Bounty and Blue Vein (>1M oz Au) held by Kidman Resources).
Lady Lila contains a significant strike extent, high and low-grade intercepts, is broadly drilled on 100m - 200m spaced lines and requires additional exploration. Classic aims to re-commence drilling at Lady Lila by the end of the June quarter.
5. DRILLING AT LADY MAGDALENE - CHASING TRANSFORMATIVE HIGH-GRADE MINERALISATION
Structural readings taken from recent orientated diamond holes MADD003 and MADD004 (see ASX announcement dated 22 March 2018) revealed several quartz veins and narrow shear zones exhibiting similar orientation characteristics to Lady Ada.
Once the logging and structural work was completed, the core was assayed and returned promising gold intercepts in those zones identified as having similar orientation to Lady Ada including 6.5m @ 3.30 g/t Au from 56.5m (including 1m @ 9.52 g/t Au from 60m). This is a very significant development for the company as the current large, modestly graded Lady Magdalene deposit appears to host high grade cross cutting zones of gold mineralisation which are analogous to the high grade Lady Ada mine.
Classic is now in the process of finalising approvals for a close-spaced RC drilling program to further delineate the dip, plunge and general direction of the high grade structures within Lady Magdalene. The follow up program is designed to confirm the existence of high-grade cross cutting lodes as suggested by relevant orientation data and start to delineate grade, size and extent of the Lady Ada analogue zones within Lady Magdalene. It is expected that the RC drilling will commence in the June quarter.
6. ABOUT THE FORRESTANIA GOLD PROJECT
The FGP Tenements (excluding Kat Gap and Lady Lila) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Hannans Ltd (ASX:HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights. Hannans' 20% interest is free-carried, meaning Hannans is not required to fund any activities on the FGP until a decision to mine has been made. For the avoidance of doubt Hannans Ltd owns a 100% interest in non-gold rights on the FGP Tenements including but not limited to nickel, lithium and other metals.
The FGP contains an existing Mineral Resource of 5.3 Mt at 1.39 g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study (see ASX Announcement released 2nd May 2017) suggesting both the technical and financial viability of the project. The current post-mining Mineral Resource for Lady Ada, Lady Magdalene and Lady Lila is tabulated below (see link below).
Additional technical detail on the Mineral Resource estimation is provided, further in the text below (see link below) and in the JORC Table 1 as attached to ASX announcements dated 14th March 2017 and 21st March 2017.
To view tables and figures, please visit:
Classic Minerals Ltd T: +61-8-6305-0221 E: firstname.lastname@example.org WWW: www.classicminerals.com.au
Anatara Lifesciences (ASX:ANR) is delighted to announce an exclusive licensing agreement with Zoetis Inc., the leading global animal health company, for the worldwide development, manufacture, distribution and marketing of Detach(R) as a non-antibiotic approach to aid in the control of diarrhoeal disease (known as scour) in livestock and in horses.
- Anatara has signed an exclusive agreement with Zoetis Inc., the leading global animal health company, to license Detach(R) - Anatara's non-antibiotic approach to aid in the control of diarrhoeal disease in livestock and horses
- Zoetis to manage worldwide development, manufacturing, distribution and marketing of Detach(R) for livestock animals and horses
- Agreement represents the achievement of a major milestone for Anatara and its shareholders
Under the terms of the license agreement, Anatara has granted Zoetis exclusive rights to develop, manufacture, distribute and market Detach(R) worldwide, including in Australia. The agreement follows an initial Exclusive Research Evaluation and License Option period (announced 18th January 2016), during which time Zoetis evaluated Detach(R) for use as a non-antibiotic product in livestock species.
The terms of the agreement include an upfront payment, milestone payments and royalties based on product sales. Intellectual property exclusively licensed to Zoetis under the agreement shall remain the sole property of Anatara. Exact details of the agreement remain confidential.
Anatara's Executive Chairman, Dr Mel Bridges said, "Through signing this agreement with Zoetis, Anatara has reached a major commercial milestone - this an exciting moment for our shareholders."
Dr Bridges added, "The global reach and resources that Zoetis is able to apply to making Detach(R) a successful product is of great value to Anatara. We see this as an outstanding result with a world-leading partner."
"Veterinarians and livestock farmers are seeking new, integrated solutions to help keep animals healthy," said Dr. Scott A. Brown, Vice President, External Innovation at Zoetis. "We look forward to continuing our research and development of this novel approach and intend to explore its place in our diverse portfolio of solutions to prevent and treat gastrointestinal illness in livestock animals and horses."
Anatara's Detach(R) technology has the potential to play an important role as an alternative to traditional antibiotics to control gastrointestinal diseases in livestock and production animals. The agreement demonstrates both companies' commitment to the responsible use of antibiotics in the food chain and finding natural alternatives to help control gastrointestinal disease.
Zoetis is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products, genetic tests, biodevices and a range of services. Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in more than 100 countries. In 2017, the company generated annual revenue of $5.3 billion with approximately 9,000 employees. For more information, visit www.zoetis.com.
General inquiries: Dr Mel Bridges Executive Chairman Anatara Lifesciences Phone: +61-7-3394-8202 Email: email@example.com Media inquiries: Jane Lowe Managing Director IR Department Phone: +61-411-117-774 Email: firstname.lastname@example.org