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MMJ PhytoTech Ltd (ASX:MMJ) Update on Legalisation of Recreational Cannabis in Canada

June 7, 2018, 7:17 pm
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MMJ PhytoTech Limited (ASX:MMJ) ("MMJ") notes progress made overnight with the Canadian Federal Government's Bill C-45 (The Cannabis Act), depicted in the link below.

MMJ CEO comments

MMJ's CEO Jason Conroy commented that "We are pleased that progress continues to be made in the federal legalisation of recreational cannabis in Canada and look forward to Bill C-45 moving through its next steps and being passed into law later this year."

To view figures, please visit:
http://abnnewswire.net/lnk/9F21Y33V 

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: jconroy@mmjphytotech.com.au
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Prospect Resources Ltd (ASX:PSC) BBC Radio Interview with Harry Greaves

June 7, 2018, 8:06 pm
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Prospect Resources Limited (ASX:PSC) ("Prospect" or "Company") is pleased to provide to investors the below web address to a recent BBC interview with Harry Greaves, Executive Director. To view the interview please copy and paste the address into your web browser:

http://www.abnnewswire.net/lnk/PX4884KR

This interview is also available on the Company's website at http://www.prospectresources.com.au/media 

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
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Australian Potash Ltd (ASX:APC) Lake Wells Sulphate of Potash Project Environmental Approvals Update

June 7, 2018, 9:11 pm
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Australian Potash Limited (ASX:APC) is pleased to provide an update on the approvals process being followed under the Definitive Feasibility Study into the development of the Lake Wells Sulphate of Potash Project (LWPP), 160kms north-east of Laverton in Western Australia's Eastern Goldfields.

- Level 2 short range endemic species (SREs) field program completed

- Level 2 stygofauna field program completed

- Final seasonal fauna, flora and Tecticornia field program planned for Q3 2018

- Environmental Review Document being prepared for submission to the EPA H2 2018

Environmental Review Document

The Environmental Protection Authority (EPA) determined in January 2018 that the LWPP development proposal will be assessed by way of an Environmental Review Document with no public consultation. APC's environmental consultants have prepared a draft Environmental Scoping Document, which in consultation with the EPA will define the form, content, timing and procedure of the Environmental Review Document.

The Environmental Review Document is targeted for completion and submission to the EPA H2 2018. The EPA's final assessment report and recommendations are anticipated Q1 2019. It is further anticipated that these recommendations will then be provided to the Minister for consideration in Q1 2019.

In general, the Environmental Review Document will address the following:

- Project background and key characteristics;

- An assessment of the preliminary key environmental factors (including flora and vegetation, terrestrial fauna, subterranean fauna, and hydrological processes), with specific requirements determined through the consultation process;

- An assessment of other environmental factors or matters (inlands waters and social surroundings), with specific requirements determined through the consultation process;

- Stakeholder consultation, and;

- Decision making authorities.

As part of the identification and assessment of the key environmental factors, Level 2 short range endemic, fauna and stygofauna surveys were recently completed. The full reports and assessments on the findings of these surveys are being compiled now and will be submitted with the Environmental Review Document.

Additional fauna and flora surveys are scheduled for the third quarter of this calendar year.

A detailed hydrological assessment of the LWPP development area and hydrogeological investigations for process water were completed in 2017.

The preliminary brine hydrogeological flow model is being finalised by consulting hydrogeologists AQ2, which model will also support the ERD.

Additional Permitting and Licenses

Throughout the EPA's assessment process, APC continues to liaise with the various WA Government Departments responsible for additional required permits, licenses and approvals.

These include:

The Department of Water and Environmental Regulation with respect to;

- Works approvals,

- Operating license to operate a solar salt operation, and

- Groundwater abstraction (5C) Licenses;

The Department of Mines, Industry Regulation and Safety (DMIRS) with respect to;

- Mining Leases, which have already been recommended for grant by DMIRS,

- Approval of the Mining Proposal, Mine Closure Plan and updated Project Management Plan, and,

- Native vegetation clearing permits.

There are no Native Title claims over the Lake Wells Sulphate of Potash Project development area, or over any of the Company's tenements at the Lake Wells/Yamarna project area.

APC Executive Chairman Matt Shackleton said, "The Company's approvals and permitting process remains firmly on track, with the finalisation of two key areas of fieldwork over the past 2 months. APC's environmental consultants, MBS Environmental, have significant experience working through the Western Australian regulatory framework, and more particularly with respect to project developments in the Yamarna region where the Lake Wells SOP project is located.

"Our project schedule currently plans for final development approval being granted through H1 2019, which will allow us to meet our goal of development through 2019/2020. We continue to work closely with the EPA to ensure their information requirements are met in the most efficient way, in preparation for lodging the final ERD in the second half of this year." 

Matt Shackleton 
Executive Chairman
e: m.shackleton@australianpotash.com.au 
m: +61-438-319-841
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Ardea Resources Limited (ASX:ARL) High-Grade Cobalt and Nickel Results Underpin DFS Advancement at Goongarrie

June 9, 2018, 7:21 pm
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Ardea Resources Limited (ASX:ARL) (OTCMKTS:ARRRF) is pleased to announce outstanding infill drilling results from the Patricia Anne deposit which has confirmed the near-surface, high-grade nature of the cobalt and nickel mineralisation with consistent scandium credit. The infill drilling program is part of the DFS program which has followed on from the recently announced Goongarrie Nickel Cobalt Project PFS.

Highlights:

- In-fill drilling confirms near-surface, high-grade cobalt and nickel mineralisation at Patricia Anne orebody

- Results include the following:

o AGSR0055 42 m at 0.16 % Co, 1.43 % Ni and 46 g/t Sc from 2 m

o AGSR0059 26 m at 0.18 % Co, 1.13 % Ni and 36 g/t Sc from 12 m

o AGSR0061 42 m at 0.15 % Co, 0.86 % Ni and 35 g/t Sc from 8 m
including 14 m at 0.25 % Co, 1.01 % Ni and 46 g/t Sc from 10 m

- Excellent results show lateral continuity of mineralisation at Patricia Anne, a hallmark of goethitic laterite deposits like Goongarrie

- The high-grade Patricia Anne orebody is earmarked as the start-up deposit at Goongarrie, providing rapid payback opportunities

- Significant scandium mineralisation evident from surface providing potential additional by-product benefits within the cobalt-nickel zones

- The sonic drill rig used to provide "run-of-mine"-grade samples suitable for future pilot-plant testing

- Drill result interpretation from Elsie Tynan, Elsie North, Pamela West and Canegrass expected shortly

- The ongoing 80x40m infill drilling is part of early-stage DFS work for Goongarrie, following the successful PFS

Patricia Anne has been outlined as the starting deposit when Ardea commences production at Goongarrie. The high-grade and low strip ratio of Patricia Anne will offer Ardea a robust early capital payback in the initial years of mine life.

Continuity of mineralisation at Patricia Anne ensures predictability and accuracy for mine scheduling which significantly diminishes operational start-up risk at Goongarrie.

The drilling has also confirmed extensive, near-surface scandium mineralisation both overlying and within the cobalt-nickel zone. Current metallurgical programs indicate a scandium credit ranging from 30-100g/t with extractions exceeding 90% which provides a significant benefit to project cashflow.

Additionally, the current GNCP DFS drilling has confirmed significant neutraliser carbonate and kaolin clay within Tertiary-aged channel sands overlying the cobalt-nickel mineralisation. The ability to source an onsite neutraliser supply has the potential to provide significant cost benefits to the project. Metallurgical evaluation is continuing using wide diameter diamond drill core.

Commenting on the successful drill results, Ardea Managing Director Brett Clark stated this was a significant step forward for the early-stage DFS program. "We are extremely pleased with the results received from Patricia Anne, as they confirm both the reliable continuity of the mineralisation whilst offering an exceptional orebody to begin mining at Goongarrie. With such high-grades demonstrated at surface, this will ensure the financial fundamentals of the project remain extremely positive and will allow Ardea to ensure rapid payback of initial start-up costs. The identification of scandium and potential onsite neutraliser source gives Ardea further encouragement as we continue with the various DFS workstreams."

About the Patricia Anne orebody

Patricia Anne is one of the constituent lateritic orebodies that contributes to the reserves defined at the Goongarrie Nickel Cobalt Project. It is located at the northern end of the Goongarrie South area and is one of the 13 defined deposits modelled for mining at Goongarrie (see Appendix 1 in link below).

The Patricia Anne deposit measures approximately 1,400 metres by 300 metres and is characterised by near-surface, high-grade, flat-lying mineralisation with minimal overburden. These characteristics are ideal for commencement of mining, so start-up Pits 1 & 2 of the Goongarrie Nickel Cobalt Project mining schedule will be located at Patricia Anne.

Drill results from Patricia Anne

Ardea's recent drilling shows conclusively that laterally continuous, shallow high-grade cobalt and nickel laterite mineralisation is located at Patricia Anne.

Continuity of mineralisation is strong between drill holes (Figures 2-4 in link below). This is a hallmark of the Goongarrie Project in particular and of 'goethite´ style (yellow-brown) laterite nickel-cobalt deposits in general (yellow-brown "limonite" of tropical laterites). It contrasts sharply with the more nontronitic clay style (green "saprolite" of tropical laterite) deposits which can exhibit marked variation between holes and are more difficult to mine and process.

Remodelling of the current orebody to understand the scandium resource is underway including a rework of the full KNP resource. A scandium JORC 2012 resource will be defined using the results of the current drill programs over the coming months.

Some of the shallow high-grade mineralisation is illustrated by recent results, which include:

6671440 mN section
AGSR0054 - 14 m at 0.27 % cobalt, 1.18 % nickel and 21 g/t scandium from 6 m
including
6 m at 0.59 % cobalt, 1.95 % nickel and 27 g/t scandium from 8 m

AGSR0055 - 42 m at 0.16 % cobalt, 1.43 % nickel and 46 g/t scandium from 2 m
including
34 m at 0.19 % cobalt, 1.60% nickel and 50 g/t scandium from 8 m

6670960 mN section
AGSR0059 - 26 m at 0.18 % cobalt, 1.13 % nickel and 36 g/t scandium from 12 m
and
12 m at 57 g/t scandium from surface

AGSR0058 - 38 m at 0.04 % cobalt and 1.08 % nickel and 46 g/t scandium from 6 m
including
2m at 0.11 % cobalt, 1.21 % nickel and 50 g/t scandium from 30 m
and
6 m at 567 g/t scandium from surface

6670880 mN section

AGSR0061 - 42 m at 0.15 % cobalt, 0.86 % nickel and 35 g/t scandium from 8 m
including
14m at 0.25 % cobalt, 1.01 % nickel and 46 g/t scandium from 10 m
and
8 m at 100 g/t scandium from surface


All defined intercepts from the Patricia Anne drill program are listed in Appendix 3.

Scandium by-product potential at Goongarrie

As can be seen above the nickel and cobalt results were supported by scandium mineralisation from surface. Scandium grades are modest but are of a grade sufficient for recovery through a modification to the flowsheet defined in the PFS, with no impact on cobalt and nickel recovery.

Ardea is buoyed by the potential for scandium be a high value by-product at Goongarrie.

Other metals at Patricia Anne

The current drilling has also highlighted other by-product metals. In particular, anomalous levels of chromium, vanadium, aluminium and gold (see Appendix 5) are distributed throughout the profile:

- Aluminium is abundant in many sections and the precipitation of aluminium sulphate or high purity alumina (HPA) for battery or sapphire glass manufacture is under metallurgical evaluation as part of the variability program

- Chromium and vanadium are evident at low- to medium-levels, however their extraction as a by-product is being investigated

- Gold is present in highly anomalous numbers in some areas. Though not expected to be extracted using the Goongarrie flowsheet, Ardea will use the geological knowledge as part of the adjacent Bardoc Tectonic Zone (BTZ) gold project exploration.

Ongoing drill program at Goongarrie

This first phase of RC drilling at Goongarrie (3,700m of drilling in 96 drill holes) is now complete. Data collected from this program will bring specific areas of the future open pit mine down to a 40mE x 80mN drilling density.

The second phase of drilling (199 drill holes for over 7,600m) is underway and is bringing the drilling density down to 40mE x 40mN in specific areas.

The ongoing drill program is designed to:

- Upgrade resources and reserves through higher density drilling. This will allow better accuracy and greater confidence in defining mining schedules for the planned Goongarrie mine.

- Provide continuing core samples for variability testing of mineralised zones. This will ensure that variations of the main style of mineralisation will perform to the same high standard or higher as that tested to date. This will also provide greater confidence for mine scheduling.

- Provide sample for production of cobalt sulphate and nickel sulphate marketing samples. Production of high-quality cobalt sulphate and nickel sulphate is required for appraisal for potential off-takers and strategic partners. There has been strong interest from several parties to receive such samples as soon as possible.

The sonic drill rig used for bulk core sampling is capable of coherent sample recovery from very loose or soft materials like that at Goongarrie.

Announcements are pending for drilling results at the Elsie Tynan and Elsie North orebodies as well as Pamela West orebody at Goongarrie South, and the Canegrass deposits further south in the Big Four area (see Appendix 1 in link below for locations). Results are showing continuity of high-grade mineralisation as expected, and will be released upon completion of quality assurance programs, data processing, analysis, interpretation and modelling.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/17V865W1 

Mr Brett Clark
Managing Director & CEO
Ardea Resources Limited
Tel +61 8 6244 5136
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Ardiden Ltd (ASX:ADV) Change of Auditor

June 8, 2018, 12:13 am
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The Directors of Ardiden Limited (ASX:ADV) ("Ardiden" or "the Company") announce, they have recently resolved to appoint Nexia Perth Audit Services Pty Ltd ("Nexia") to perform the audit function of the Company. The directors believe the Nexia audit model will be more suited to meet the current and emerging needs of the Company given Ardiden's expanded operations in Canada.

PKF Mack have confirmed their resignation as Ardiden's auditor following receipt of ASIC's consent to their resignation.

Ardiden would like to thank PKF Mack for their professional and diligent service with regards to the audit of the Company over the years. 

Ardiden Ltd
T: +61-8-6245-2050
F: +61-8-6245-2055
WWW: www.ardiden.com.au
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Classic Minerals Ltd (ASX:CLZ) Commencement of Drilling at Forrestania

June 11, 2018, 3:15 pm
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WA-focused gold exploration and development company Classic Minerals Limited (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has commenced RC drilling at its Forrestania Gold Project (FGP) in Western Australia.

Highlights:

- ~3000m of RC drilling underway at Kat Gap, Lady Lila, Lady Magdalene and Van Uden West

- Assay results expected early July

- Targeting high grade cross-cutting lodes at Lady Magdalene

- Follow up drilling targeting high grade zones at Kat Gap, Lady Lila and Van Uden West after successful campaign in April 2018

1. INTRODUCTION

Classic CEO Dean Goodwin said:

Following the fantastic results of our last drilling program, including a brand-new discovery at Van Uden West and multiple high grade gold hits at Kat Gap and Lady Lila, we are very excited to be heading back to the FGP to undertake an aggressive follow up drill program. I am also thrilled to be heading back to Lady Magdalene to hopefully unlock major high-grade lodes which will bolster the resource with quality oz.

Over the past 12 months, the Company has been busy gaining a thorough understanding of the local geology and controls on mineralisation. All of the drill programs undertaken at FGP by Classic have yielded high grade gold hits. There is no doubt in my mind that this is a major gold camp containing significant undiscovered resources and we are on the right path to discover and delineate these ore bodies.

2. DRILLING PROGRAM

Following the encouraging results (see ASX announcement dated 15 May 2018) from its last program at Kat Gap, Van Uden West and Lady Lila, the Company will be targeting these areas again with additional drilling. In addition, Classic will also be returning to Lady Magdalene to continue efforts to locate high grade mineralisation that has been missed by previous explorers.

The Company plans to undertake the following drilling activities in early June 2018: 
 
Table 1: Proposed Drilling 
---------------------------------------------------------------
Prospect         Drill Type     No of Holes       No of Metres 
---------------------------------------------------------------
Kat Gap          RC             12                1,100m 
Lady Lila        RC             5                 360m 
Lady Magdalene   RC             12                1,060m
Van Uden West    RC             5                 480m 
---------------------------------------------------------------
TOTAL                           34                3000m  
---------------------------------------------------------------
3. VAN UDEN WEST - A BRAND NEW GOLD DISCOVERY

Previous 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. Classic has planned 5 holes for 480m total to test strike/depth potential of the new discovery.

Previous drilling (May 2018) 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.

4. LADY LILA DRILLING - ANOTHER BOUNTY GOLD MINE?

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. Previous drilling by Classic at Lady Lila confirmed the existence of a thick, steep east dipping ore zone warranting additional follow up. The upcoming drill program (5 RC holes for 360m total) will focus on extending the mineralisation along strike and at depth. 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.

In May 2018, 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).

5. KAT GAP DRILLING - SHALLOW, HIGH GRADE AND UNDER-EXPLORED

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 the previous drill program just completed, Classic sees great potential for the discovery of a substantial shallow high-grade gold deposit within the Kat Gap project area and the upcoming program will be testing for extensions of the high grade system. Classic has 12 holes planned at Kat Gap for a total of 1,100m.


In May 2018, 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.

6. DRILLING AT LADY MAGDALENE - CHASING TRANSFORMATIVE HIGH-GRADE MINERALISATION

Lady Magdalene is a large, modestly graded deposit which appears to host high-grade, cross-cutting gold lodes within existing drill lines that are 100-200m apart (see announcement dated 22 March 2018). Previous diamond drilling successfully confirmed the existence of such lodes and the planned drilling will further test the extent of strike, dip and grade of these high grade cross-cutting lodes. Classic has 12 holes planned at Lady Magdalene for a total of 1,060m.

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.

The upcoming RC drilling program is designed 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.

7. 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 Classic Ltd owns a 100% interest in non-gold rights on the Kat Gap and Lady Lila 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:
http://abnnewswire.net/lnk/A43F91R6 

Classic Minerals Ltd
T: +61-8-6305-0221
E: contact@classicminerals.com.au
WWW: www.classicminerals.com.au
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State Gas Limited (ASX:GAS) Operational Update

June 11, 2018, 3:27 pm
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Brisbane-based conventional gas developer State Gas Limited (ASX:GAS) is pleased to provide an operational update on its PL 231 Reid's Dome - Cattle Creek conventional gas project located South West of Rolleston in the Bowen Basin in Central Queensland.

HIGHLIGHTS

- Drilling planned for Qtr 3 2018 to test gas target in the north-west of PL 231 identified from seismic reprocessing.

- Phase 2 (Southern Area) seismic data reprocessing expected to be completed during Qtr 3 2018.

As previously announced, the Phase 1 (Northern Area) seismic reprocessing undertaken by the Company identified a new potential gas pool located in the north-west of PL 231 (North-West Gas Prospect). The North-West Gas Prospect appears to be hosted within the Cattle Creek Gas Sands and appears to consist of multiple zones to a depth of approximately 500 metres.

The Company is currently preparing to undertake drilling to test the North-West Gas Prospect. Reid's Dome North-West-1 will be drilled into the target zones. If gas is detected, the well will be logged and tested to provide information on the flow and permeability characteristics of the formation. The drilling of this well will complete the Company's sole funding obligations under the Joint Operating Agreement for PL 231.

Drilling is expected to be undertaken during the 3rd Quarter of 2018.

The Phase 2 (Southern Area) reprocessing of historic seismic in the Southern Area of the permit is also expected to be completed in the 3rd Quarter of 2018. Seismic data in the Southern Area is more limited than that available for the Northern Area.

In addition, the Company is continuing its investigation of options to monetise the gas identified in the Cattle Creek Formation in the Central North gas pool centred around Primero-1, as well as any new gas located in the North-West Prospect.

To view figures, please visit:
http://abnnewswire.net/lnk/72S71OZ3 

Lucy Snelling
Chief Executive Officer
M: +61-439-608-241
E: lucy@stategas.com

Greg Baynton
Executive Director
M: +61-414-970-566
E: greg@stategas.com
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Fluence Corporation Ltd (ASX:FLC) Secures Additional Aspiral Projects in China

June 11, 2018, 3:30 pm
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Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that it has executed a tripartite framework agreement with the Yiyang City Government and local partner Hunan Aerospace Kaitian Environmental Technology Company Ltd., a subsidiary of Hunan Aerospace ('Kaitian') for the deployment of three Aspiral(TM) smart-packaged MABR-based units (formerly known as C-MABR).

- Tripartite Framework Agreement signed with Yiyang City Government and Hunan Aerospace Kaitian Environmental Group

- Two additional smart-packaged Aspiral(TM) units contracted

- AspiralTM units to be deployed in three districts in Yiyang City

Commenting on this latest milestone for Fluence, Managing Director & CEO Henry Charrabé said: "Securing this agreement so quickly after the sale of the first Aspiral(TM) unit with Kaitian in this province reinforces our China partner strategy. Obtaining the potential endorsement from the Yiyang City Government would be the next key milestone for our growth in China, opening the door for other provincial governments to adopt AspiralTM as the standard for rural wastewater treatment."

The AspiralTM units so far contracted under the tripartite framework agreement will be deployed across three districts in Yiyang City, the first of which is undergoing installation and will be operational in Xielingang Township, New High Tech District, by the end of July.

Aspiral(TM) units were chosen for their reliable achievement of efficient Class 1A discharge, as well as their low energy, maintenance and space requirements. Following successful deployment of the three sites, Fluence's Aspiral(TM) solution could be endorsed by the Yiyang City Government to help meet its future planning requirements in order to comply by 2020 with the Chinese Government's 13th five-year plan.

Yiyang city Deputy Mayor, Mr. Anbang Hu commented: "We are very pleased with the co-operation between our government, Fluence Corporation and Kaitian. We are looking forward to the success of this project implementation, and also the further study, co-operation and contribution to Chinese rural wastewater treatment from our agreement."

China Areospace Kaitian Environmental Technology Co., Ltd. Chairman, Mr. Weiwu Song, said: "We value the trilateral co-operation among Yiyang Government, Fluence Corporation and Kaitian. The success of the signing today is an excellent start to a blueprint of beautiful Chinese rural construction. It is no doubt that wastewater treatment is a key direction in which we can accomplish a lot. We shall take this opportunity to look forward to more, deeper and wider co-operation together with the government of Yiyang and Fluence in the future."

To view figures, please visit:
http://abnnewswire.net/lnk/05CLKD1M 

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766 

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442

Investors (Australia):
Ronn Bechler
Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400-009-774

Media (Australia):
Tristan Everett
Market Eye
E: tristan.everett@marketeye.com.au
P: +61-403-789-096 

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)
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Donaco International Ltd (ASX:DNA) Update on Legal Proceedings

June 11, 2018, 3:37 pm
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Donaco International Limited (ASX:DNA) ("Donaco" or "the Company") provides the following updates on its legal dispute with the vendors of the Star Vegas casino business in Cambodia.

Injunction Granted to Prevent Threatened Termination of Lease

The Star Vegas business occupies a long term (50 year) lease, on land which is owned by the lessor, Lee Hoe Property Co., Ltd. This is a Cambodian company which is jointly owned by the vendors of the Star Vegas business:

1. Lee Bug Leng (Cambodian passport name), who also has a Thai passport under the name of Somboon Sukcharoenkraisri;

2. Lee Bug Huy (Cambodian passport name), who also has a Thai passport under the name of Techatut Sukcharoenkraisri (known as "Ham"); and

3. Lee Bug Tong (Cambodian passport name), who also has a Thai passport under the name of Bhuvasith Chaiarunrojh (known as "Qoo").

Recently the lessor has threatened to terminate the lease, on contrived and spurious grounds. Accordingly, Donaco has now obtained an injunction in its favour from the Banteay Meanchey Court of First Instance, to prevent the threatened termination.

This complements the previous injunction granted in Donaco's favour, to prevent the vendors from engaging in illegal competition in the Poipet area, in breach of the sale agreements for the Star Vegas. The vendors have indicated that they intend to appeal against that previous injunction, but the appeal process has not commenced yet.

Increase in Damages Claim Against Vendors

Donaco also continues to prosecute its damages claim against the vendors, via arbitration proceedings in Singapore. In those proceedings, Donaco has received expert legal and financial advice. Having considered that advice, Donaco has now increased the size of its damages claim from USD120 million to USD190 million.

The arbitration proceedings are confidential and not publicly reported, but Donaco will keep the market informed of all developments that are material to investors. 

Donaco International Ltd
Ben Reichel 
Executive Director
T: +61-412-060-281
WWW: www.donacointernational.com
↧
↧

Blackham Resources Ltd (ASX:BLK) Multiple High Grade Extensions Identified at Golden Age

June 11, 2018, 3:52 pm
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Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) (Blackham or the Company) is pleased to present an update on successful drill results from the high grade free milling Golden Age orebody which has significantly extended mineralisation beyond current mining areas. From March'18 to May'18, Blackham drilled 19 surface RC holes (2,117m) and 30 underground diamond holes (2,331m) focused on extensions to the Golden Age deposit.

Highlights

- Golden Age underground mine has generated strong cash flows for the last 3 quarters.

- Approximately 180Koz @ 9g/t Au has been historically mined from Golden Age Middle area.

- Successful drilling confirms that Golden Age mineralisation is open both down and down dip, with mining to increasingly target the extensions defined from this drilling

- Drilling of Golden Age Lower Extensions located mineralisation 150-300m below the current mining levels:

o 6.9m @ 15.5 g/t Au 107 g*m GARD0033

o 2.0m @ 11.8 g/t Au 23 g*m GARD0036

- Surface drilling at Golden Age North has intersected high grade shallower mineralisation amenable to both open pit and underground mining:

o 2m @ 28.3g/t Au from 75m 57 g*m WURC0577

o 6m @ 7.97g/t Au from 106m and 1m @ 6.14g/t Au 54 g*m WURC0583

o 8m @ 5.82 g/t Au from 87m 47 g*m WURC0579

o 7m @ 1.52 g/t Au from 12m and 14m @ 1.26g/t Au 28 g*m WURC0601

o 7m @ 2.97 g/t Au from 80m 21 g*m WURC0567

o 4m @ 4.24 g/t Au from 94m 17 g*m WURC0575

- Infill drilling has further extended remnant mineralisation currently being mined:

o 2.1m @ 43.6g/t Au and 1.1m @ 7.28g/t Au 97 g*m GAGC0244

o 6.5m @ 8.88g/t Au and 2.8m @ 5.81g/t Au 74 g*m GAGC0243

o 5.1m @ 4.15g/t Au 21 g*m GAGC0233

o 1.1m @ 17.4g/t Au 19 g*m GAGC0238

o 2.1m @ 7.87g/t Au 16 g*m GAGC0241

- Golden Age drilling programme to be extended further with a view to both lengthening the mine plan and increasing the mining rate at Golden Age.

- Free milling resources and reserves are currently being updated to incorporate recent Wiluna and Golden Age drilling success.

Milan Jerkovic, Executive Chairman said "Blackham is pleased to announce new drill results from our high-grade Golden Age orebody which have identified significant extensions to mineralisation within 200m of existing underground development. Based on the highly encouraging intercepts, planning has commenced for further drilling to better define the mineralised extensions and to support early underground development to provide additional high-grade ore to feed the Wiluna gold plant, which last quarter produced 20,631oz @ AISC A$1,092/oz".

Background and Programme Details

The Golden Age Underground mine is accessed via the Bulletin portal located only 2.5km from the 1.8Mtpa Wiluna gold plant. The Golden Age workings commenced in the 1890's and approximately 180,000oz @ 9g/t gold has been produced to date, with strong cash flows generated for the Company in the last three quarters. The discontinuous nature of the reef in places led to previous miners not accessing gold mineralisation in some areas previous mined. Recent mining of these remnant areas, armed with a greater understanding of the style of mineralisation, has produced additional gold from Golden Age over the past year. With the orebody now better understood, and the mineralisation open both down dip and down plunge, mining will increasingly target the extensions defined from this drilling.

Drill targets were aimed at maintaining a minimum 6-12 month mine life at Golden Age and to subsequently significantly increase mine capacity for the Golden Age mine area. The targets were arrived at following extensive data collation (including additional structural mapping) and a review of the stratigraphic sequence, deformation and mineralising events. Most of the drilling was aimed at defining extensions to the east and below the zone of mineralisation currently being mined. Grade control drilling in the remnant mining areas (at higher RLs) targeted areas where over-lapping, but separate, quartz lodes were previously missed; these remain viable mining targets.

Golden Age Lower Extensions

A 2,464m diamond drilling programme is underway targeting depth extensions to Golden Age (see Figure 2 in link below).

Initial drilling has returned highly successful results from the four holes drilled to date (730m), extending the zone of high grade mineralisation 150m below the current workings. The program specifically targeted an area interpreted to be a shallower dipping, dilational zone, preferential for the deposition of gold mineralisation.

All holes intercepted the strongly sheared Golden Age dolerite host rock and Golden Age quartz reef with three intercepts exhibiting the dominant galena and pyrite sulphide mineralisation typically associated with high grade zones. Reef intercepts varied from 1.2 - 6.9m in width with visible gold noted in one hole (GARD0034). Results received for these holes are:

6.9m @ 15.5 g/t Au 107 g*m GARD0033 (see Photo 1 of core tray) (see link below)

2.0m @ 11.8 g/t Au 23 g*m GARD0036

3.0m @ 2.11g/t Au 6 g*m GARD0034 (visible gold in core- see Photo 2 in link below).

The results strongly support the potential for the continuation of underground mining at Golden Age and further drilling is now being planned (to commence in Jul-Aug'18) to establish an initial resource in this area. Positive results may provide the catalyst for early access via the nearby Calais Decline to enable a substantial increase in the mining rate.

The on-going drilling will also test this zone at greater depth (a further 120m lower) to enable early assessment for a significant additional resource increase.

Recent assay results from Calais Decline sampling.

Recent results from sampling the Calais Decline on both the 825 RL and 800 RL have confirmed the high grade Golden Age Lower reef intersects the walls of the decline (see Figure 2, Photos 3 & 4 in link below). Four samples were taken across the 3.5m vein in the decline at the 825RL. The results included: 11.03 g/t, 6.86 g/t, 1.42 g/t and 0.25 g/t Au.

Four samples were also taken across the 1.8m vein in the decline at the 800RL. The results included: 0.82 g/t, 0.24 g/t, 22.3 g/t and 0.93 g/t Au.

Historical drilling has confirmed high grade mineralisation in AWD0502 (12.9m @ 6.88g/t Au) and APX012312 (7.4m @ 7.56g/t Au) 200m below where Blackham is currently mining on the 858RL, and 200m east of the Calais Decline (see Figure 2 in link below).

Recent drilling has now confirmed high grade mineralisation 200m east of where these Calais Decline samples were taken in GARD0033 (6.9m @ 15.5 g/t Au) and GARD0036 (2.0m @ 11.8 g/t Au).

Golden Age Lower has never been mined as it is offset from Golden Age Middle zone by a barren dyke. Golden Age Lower currently has a small resource of 168,000t @ 4.72g/t for 25,000oz (74% inferred). When the latest drill and face sampling results are combined with historical drilling it creates a very significant exploration target for Golden Age Lower all within 200m of existing access.

Blackham's geologists are currently planning additional drilling with a view to bring Golden Age Lower into the mine plan as a priority and to supply further high grade ore to the Wiluna gold plant.

Golden Age North

The Golden Age North prospect is situated immediately north and along strike of the historically mined Golden Age pit, on a NW-SE-striking reef structure that dips at approximately 70deg to the SW. Mineralisation is localised at the contacts of quartz-dolerite, tholeiitic basalt and intermediate porphyry rocks, with the best grades often associated with thick quartz veining.

Historical drilling, together with recent exploration drilling completed by Blackham has confirmed the continuity of the mineralised structure over a 600m strike and to a depth >150m, with mineralisation remaining open, both laterally and down-dip. Preliminary metallurgical test work indicates mineralisation at Golden Age North is also free-milling and is therefore considered an attractive feed for Blackham's Wiluna CIL processing facility, located only 2km away.

Drilling comprised of 19 holes for a total of 2,117m and was successful in intersecting high grade mineralisation over 600m of strike.

Significant intercepts from the drilling include:

7m @ 2.97 g/t from 80m (incl. 1m @ 13.4 g/t from 84m) WURC0567

4m @ 3.70 g/t from 118m (incl. 1m @ 6.55 g/t from 120m) WURC0569

2m @ 4.64 g/t from 88m (incl. 1m @ 8.34 g/t from 88m) WURC0570

4m @ 4.24 g/t from 94m (incl. 1m @ 13.3 g/t from 96m) WURC0575

2m @ 28.34 g/t from 75m (incl. 1m @ 47.0 g/t from 76m) WURC0577

8m @ 5.82 g/t from 87m (incl. 4m @ 10.2 g/t from 89m) WURC0579

12m @ 1.72 g/t from 59m (incl. 1m @ 6.96 g/t from 60m) WURC0580

6m @ 7.97 g/t from 106m (incl. 1m @ 37.1 g/t from 107m) WURC0583

One of the underground diamond holes GAGC0241 (1.0m @ 15.5 g/t Au) appears to have intercepted the Golden Age North structure at a depth of 370m below surface, a further 220m deeper than the surface drilling. The Golden Age North structure looks to cross the Golden Age Middle orebody and development drives, suggesting they are separate structures. Further drilling is required to confirm that this intercept is the Golden Age North structure and that it remains open at depth.

Significant intercepts from the latest program lie outside of the current Golden Age North pit optimisation and below the existing mined pit floor. With the depth to fresh rock approximately 50m, the ore zones are amenable to both open pit and underground mining. The deeper, northern-most intercepts are located approximately 150m from existing underground infrastructure allowing for lower-cost underground access.

Golden Age remnant mine plan growing

A diamond drilling grade control programme has been completed in conjunction with the resource extension drilling in the Golden Age Middle zone focussing on quartz lodes not identified or extracted by previous operators.

Two separate quartz lodes were intercepted in a number of holes validating the over-lapping nature of the reef. The best intercepts were:

2.1m @ 43.6g/t and 1.11m @ 7.28g/t 92 g*m GAGC0244

6.1m @ 8.88g/t and 2.8m @ 5.81g/t 74 g*m GAGC0243

5.1m @ 4.15g/t incl. 1m @ 12.0g/t 21 g*m GAGC0233

1.1m @ 17.4g/t and 0.7m @ 4.17g/t 19 g*m GAGC0238A

2.1m @ 7.87g/t 16 g*m GAGC0241

This drilling has extended the current mine plan of three lenses in the remnant part of the mine. This additional ore is expected to be mined over the next 4 months.

Following the successful drilling campaign, Blackham is re-estimating the open pit free milling resources and reserves around the Wiluna Mine site. Blackham's management team believes the free milling ores within the existing Wiluna Mine footprint are an attractive feed stock for the current operating mill and allows for fast tracking mining approvals.

Blackham has also commenced a 2,600m RC and Diamond drill programme for the Lake Way prospects targeting the southern extensions to the Williamson orebody and the 2.5 kilometres of strike on the Carroll-Prior structure. No exploration drilling has taken place in this area for over 12 years.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/9ZUAO50C 

Milan Jerkovic
Executive Chairman
T: +61-8-9322-6418 

Bryan Dixon 
Managing Director
T: +61-8-9322-6418

Jim Malone
Investor Relations
T: +61-419-537-714

Chantelle O Sullivan
Media Relations
Citadel-MAGNUS
T: +61-8-6160-4900
↧

Intermin Resources Limited (ASX:IRC) Excellent Drilling Results Continue from the Teal Project Area

June 11, 2018, 4:29 pm
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Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce further excellent reverse circulation ("RC") drilling results from the 100% owned Teal gold project, located 11km northwest of Kalgoorlie-Boulder in Western Australia (see Figure 1 in link below).

HIGHLIGHTS

- New discovery and resource growth drilling continues at the 100% owned Teal gold project area, 11km north-west of Kalgoorlie in the Western Australian goldfields

- To date, 131 holes for 16,342m have been completed at the Jacques Find and Yolande prospects as part of the self-funded 55,000m drill program for 2018

- Significant high grade downhole RC intercepts received to date include(see Note 1 below):

o 10m @ 6.70g/t Au from 60m including 4m @ 14.63g/t Au from 60m (JFRC18048)

o 8m @ 5.88g/t Au including 4m @ 10.20g/t Au from 124m (JFRC18136)(see Note 2 below)

o 8m @ 5.28g/t Au from 64m including 1m @ 19.70g/t Au from 66m (JFRC18095)

o 6m @ 6.69g/t Au from 91m including 1m @ 33.40g/t Au from 92m (JFRC18042)

o 13m @ 2.78g/t Au from 90m (JFRC18076) and 11m @ 2.77g/t Au from 73m (JFRC18049)

o 4m @ 8.41 g/t Au from 44m (JFRC18049) (see Note 2 below)

o 7m @ 4.47g/t Au from 34m (JFRC18097) and 12m @ 2.33g/t Au from 105m (JFRC18129)

o 7m @ 4.02g/t Au from 45m and 5m @ 4.48g/t Au from 79m (JFRC18045)

o 7m @ 4.47g/t Au from 34m (JFRC18034) and 7m @ 4.02g/t Au from 45m (JFRC18045)

o 5m @ 5.09g/t Au from 107m (JFRC18117) and 7m @ 3.59g/t Au from 66m (JFRC18107)

o 4m @ 1.5g/t Au from 56m, 4m @ 2.18g/t Au from 112m, 28m @ 1.20g/t Au and 4m @ 1.87g/t Au from 180m (JFRC18138) (see Note 2 below)

o 7m @ 3.46g/t Au from 90m (JFRC18108) and 5m @ 4.49 g/t Au from117m (JFRC18112)

- Further drilling results expected in the June and September quarters 2018

- Jacques Find now extends to over 800m in strike length and links with the Yolande mineralisation to the north

- New mineralisation discovered 400m north of Yolande and 250m west of the Teal mine

- Results have also confirmed multiple lodes at Jacques Find with significant oxide and transitional gold mineralisation similar to Teal and amenable to open pit development (see Note 1 below)

- Drilling at the Teal gold project area will be completed in June with two rigs moving to the Binduli gold project area before commencing the 14,000m program at the Anthill gold project, 45km northwest of Kalgoorlie on the Zuleika shear zone

- Geological modelling underway with Resource updates planned for the September Quarter

Commenting on the results of the large program, Intermin Managing Director Mr Jon Price said:

"The drilling results to date continue to deliver excellent width and grade and now demonstrate the continuity of the Jacques Find trend along 800m of strike length. Multiple parallel structures have now been identified providing significant potential for further resource growth."

"The Company now looks forward to receiving all the drilling data from the Teal gold camp and compiling an updated resource for release in the September Quarter. The drill rigs now move on to the exciting Binduli and Anthill gold projects where we aim to grow our resources, add to our production profile and continue the search for Kalgoorlie's next new gold discovery."

Overview

In February 2018 Intermin commenced a self-funded $4M, 55,000m drilling program across its 100% owned Kalgoorlie gold projects. The major drill program is focussed on new discoveries and resource extensions at the key Teal, Anthill and Blister Dam gold projects(see Note 3 below). As part of the program, 20,000m of RC and diamond drilling was planned for the Teal project area to grow the current resource base and test new discovery targets identified in the successful 2017 program(see Note 4 below).

Jacques Find

The geology at Jacques Find is dominated by lower Black Flag Group rocks (felsic volcanics and sediments) with lesser amounts of porphyry and intermediate volcanics. Two main controls on gold mineralisation are linking NW and NS shears. Dr Gerard Tripp, a highly credentialed expert on the Eastern Goldfields structural geology visited Jacques Find and Teal earlier this year and was highly encouraged by the prospectivity. Several new exploration targets have now been generated.

Fresh rock gold at Jacques Find is typically associated with quartz and sulphides (pyrite-arsenopyrite) with faulting having displaced and pinched out some of the mineralisation. Primary mineralisation at depth exhibits semi-refractory properties and optimal recoveries are achieved through ultra-fine grinding, pressure oxidation or roasting. The shallow oxide supergene mineralisation is similar to the Teal gold mine where recoveries over 94% where achieved.

During 2016 and 2017, Intermin completed two highly successful RC programs (see Note 4,5 below) at the new Jacques Find discovery intercepting steeply dipping high grade gold shoots and extending the zone of mineralisation from 120m in 2016 to 400m length in 2017. The current 2018 resource program has focussed on extending the mineralisation further to the north (another 400m) with infill drilling to improve geological confidence (see Figure 3 in link below).

To date, 131 RC holes have been completed for 16,342m to a maximum depth of 270m. The Jacques Find drilling is about 90% complete. The detailed drilling, mostly on 40m centres, has outlined a semi-continuous series of four high grade zones separated by cross cutting faults (see Figure 2 in link below). The strongest gold mineralisation at Jacques Find generally occurs between 30m and 150m vertical depth and is often found adjacent or proximal to a black shale unit. Gold appears to meander and pinch and swell, typical of many anastomising shear zones.

In the southern Jacques Find area, there are two subparallel, vertically dipping main lodes, typically these are about 4-6m wide. The northern Jacques Find area, which is currently being drilled, also has indications that multiple lodes may also be forming at depth. The high grade zone intercepted by JFRC1704 and JFRC1711 (27m @ 4.16g/t Au from 45m) (see Note 4, 5 below) in 2017 appears to plunge steeply to the south and was intersected by JFRC18002A (18m @ 1.47 g/t Au from 158m). Follow up diamond drilling in this area is planned for the December Quarter.

Further drilling results from the Jacques Find trend are expected in the June and September quarters.

Teal West and Jacques South

Additional drilling was also completed at the Teal West area 400m NW of Yolande and 250m west of the recently completed Teal open cut mine. The drilling followed up new mineralisation intercepted in April with the discovery hole (JFRC 18012) returning 4m @ 2.6g/t Au from 54m (see Note 6 below).

Drilling at Teal West intercepted significant mineralisation including (see Note 7 below):

- 2m @ 2.71 g/t Au from 52m and 6m @ 1.04 g/t Au from 67m (JFRC18126)

- 3m @ 2.74 g/t Au from 55m (JFRC18125)

- 6m @ 1.02 g/t Au from 96m (JFRC18065)

This new prospect may be the northern extension of the Jacques Find trend that has been partially offset or a new structural trend in development. The Teal West mineralisation also looks to extend another 120m further north of the current drill campaign where previous intercepts returned up to 9m @ 1.30 g/t Au from 157m (see Note 5 below). In addition, limited shallow drilling has been completed between Teal West and Yolande 400m to the southeast and has been prioritised for the next drilling campaign.

The mineralised corridor from Jacques Find - Yolande - Teal West spans 1,500m in strike length (see Figure 3 in link below) and is considered highly prospective given the results achieved to date. This corridor appears to be parallel, and of a similar size (~1,500m), to the Teal - Peyes Farm trend 250m to the east. A further two parallel structures have been identified with drilling underway and results expected in the June and September quarters 2018.

Intermin has also recently completed a 197 drill hole auger program (2m depth) that extends the Jacques Find and Teal - Peyes Farm trends for another 1,400m to the south. Earlier drilling by the Company and others returned encouraging gold intercepts in several holes including PFRC1643 (1m @ 10.36g/t Au from 79m) and BNC26 (7m @ 2.49 g/t Au from 105m)(see Note 5 below). These holes are south of the current drill program yet appear to lie close to the Jacques trend line and indicates that both trends remain open to the south.

Further exploration drilling south of Jacques Find and Peyes Farm is planned.

Next Steps

The drilling program at the Teal project area will be completed in June 2018 with further assay results expected in the June and September quarters. On receipt and validation of all new drilling data, an updated geological resource model will be generated for release in the September quarter 2018.

A detailed review of the results will then be undertaken and the follow up drill program designed. Given the successful results to date, the emergence of multiple parallel lodes requiring follow up and the resource growth potential of this large mineralised system, it is envisaged that a further large-scale RC and diamond program will commence in the December Quarter 2018.

On completion of the Teal program, two rigs will commence a 5,000m program at the Crake prospect within the Binduli project area before moving to the Anthill gold project to commence a 14,000m resource extension and new discovery program in the September Quarter 2018.

Notes:

1 See Table 1 on Page 6, Competent Persons Statements on Page 9, Forward Looking Statement on Page 10 and JORC Tables on Page 11

2 denotes 4m composites only with 1m split assays yet to be received

3 As announced to the ASX on 19 February 2018

4 as announced to the ASX on 16 January 2018

5 as announced to the ASX on 27 November 2017 and 16 January 2018

6 As announced to the ASX on 24 April 2018

7 See Table 1 on Page 6, Competent Persons Statements on Page 10 and JORC Tables on Page 11

To view tables and figures, please visit:
http://abnnewswire.net/lnk/HND0BPR5 

Jon Price 
Managing Director
Tel: +61-8-9386-9534
E: jon.price@intermin.com.au

Michael Vaughan
Media Relations - Fivemark Partners
Tel: +61-422-602-720
E: michael.vaughan@fivemark.com.au
↧

Mustang Resources Ltd (ASX:MUS) Ore Sorting Tests Highlight Scope to Increase Production and Cut Costs at Caula Graphite-Vanadium Project

June 11, 2018, 5:09 pm
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Mustang Resources (ASX:MUS) (OTCMKTS:MTTGF) is pleased to announce that it has received strong results from preliminary ore sorting testwork conducted on drill core from its Caula Graphite-Vanadium project in Mozambique.

This testwork demonstrated that the Caula ore is highly amenable to sensor-based ore sorting. Results showed that an ore sample with no visible waste could be split into high-grade and lowgrade streams.

Key Points

- Preliminary ore sorting testwork was conducted by specialists TOMRA Sorting at its Test and Demonstration Centre at Castle Hill, NSW Australia

- X-Ray Transmission and Conductivity (EM) sorting were both evaluated

- The tests found:

o in a full-scale mining operation, EM sorting would efficiently reject barren waste with minimal loss of graphite or vanadium values

o a moderate-grade ore sample with no visible waste was successfully split into high-grade and low-grade fractions

o potential to use ore sorting to upgrade graphite and vanadium grades

- TOMRA recommends a larger-scale formal testwork program based on these strong results

- The results demonstrate the potential to increase production rates without increasing the plant size and to reduce operating costs

Both X-Ray Transmission and Conductivity-based (EM) sorting were evaluated with the EM sorting generating the best result. The EM sensors evaluate the proportion of electrically-conductive mineral (in this case graphite) in each rock particle. Vanadium values are closely associated with graphite and show a similar response to sorting.

Ore sorting enables waste rock and low-grade ore to be separated from run-of-mine ore. Sorting saves costs by rejecting waste rock and low-grade ore ahead of expensive processing steps such as milling and froth flotation. In many cases, sorting delivers additional environmental benefits to projects due to reduced tailings volumes, enhanced tailings storage stability and other factors.

High capacity, sensor-based ore sorting is an emerging technology which can deliver enormous value, particularly when considered for a new mining project. TOMRA has a successful track record in the mining industry with sensor-based sorting installations operating at feed rates ranging up to several hundred tonnes per hour. These systems are fully automated and have very low costs per tonne processed.

The Caula Project is located along strike from Syrah Resources' (ASX:SYR) world-class Balama graphite project in Mozambique.

Sample Tested

The sample selected was a continuous portion of quartered NQ diamond drill core from 58m to 88m downhole in borehole MODD015. The sample was chosen to represent fresh ore with moderate grades of graphite and vanadium and no visible barren rock intersections.

Test Procedure

The selected quarter core sample with a total weight of 66kg was first broken into approximately 50mm lengths. It was then split into two portions using a rotary riffle and one of these portions, with a weight of about 30kg, was sent to the TOMRA Test and Demonstration Centre at Castle Hill, NSW Australia.

At TOMRA, the sample was screened at 16 mm to remove fines ahead of sorting tests. About 30% of the sample reported to fines. The screen oversize was then subject to sorting tests on both XRT and EM based machines. After discussion of preliminary results with Mustang, the sorting parameters of each machines were adjusted to give an approximate 50% mass split between concentrate and reject.

The screen oversize material was then recombined before being split into two portions. One of these portions as sorted by XRT, the other by EM. With the screen undersize, this gave 5 product samples which were returned to Nagrom Laboratories in Perth for analysis.

The samples were individually crushed and blended. Analysis samples were then split out and sent for graphite analysis, multi element XRF analysis and semi-quantitative XRD mineral analysis.

Results

The mass split and the distribution of contained graphite and vanadium between the five samples is shown in Figure 1 (see link below). It can be seen that the unsorted fine material was significantly enriched in both graphite and vanadium. This is not surprising as the graphite-rich zones of ore tend to be quite friable compared with lower grade zones. It is also immediately apparent that the EM sorting achieved greater levels of separation of graphite and vanadium values than the XRT sorting.

Sorting performance results were calculated by apportioning the screen undersize between the EM and XRT tests based on the weight of screen oversize used in each test. Screen undersize and the high-grade material from the sorting were then combined to give an overall high-grade stream. The low-value material from the sorting was then classified as the low-grade stream. This gives the results shown in Tables 1 and 2 (see link below) for the EM and XRT Sort runs respectively.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/F109PV57 

Managing Director: 
Bernard Olivier 
E: bernard@mustangresources.com.au
M: +61-4-08948-182
T: +27-66-4702-979

Media & Investor Relations: 
Paul Armstrong
E: paul@readcorporate.com.au
T: +61-8-9388-1474
↧

Cervantes Corporation Limited (ASX:CVS) Nickel - Cobalt Opportunity Identified in RAB Data

June 11, 2018, 6:01 pm
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Cervantes Corporation Limited (ASX:CVS) (Cervantes) has assessed Rotary Air Blast geochemical data from the Primrose Project (see Figure 1 in link below) collected by the previous tenement owners, European Lithium Limited. This drilling had been undertaken while that company was divesting the project area to Cervantes and has never been reported.

- Shallow RAB drilling identifies significant nickel - cobalt mineralisation

- Anomalous zones clearly identified with magnetic contacts suggesting a classic ultramafic basal contact nickel setting

- Significant intercepts include (downhole widths):

o 16m at 0.37% Ni and 0.032% Co from 24m in hole PFRAB1771

o 16m at 0.21% Ni and 0.018% Co from 27m in hole PFRAB1770

o 16m at 0.19% Ni and 0.032% Co from 12m in hole PFRAB1775

o 16m at 0.23% Ni and 0.017% Co from 4m in hole PFRAB1790

o 12m at 0.25% Ni and 0.022% Co from 8m in hole PFRAB1778

- An Emily May/Maggie Hay nickel deposit analogue is postulated

A total of 113 holes for 1,404 metres was drilled. Four broad areas were covered, either in a semi random pattern or along lines. The Collar information is presented as Appendix 1 (see link below) and hole locations summarised in Figure 2 (see link below). The holes were predominantly drilled vertically, though a limited number were drilled at an incline.

Assay data is given in Appendix 2 (see link below).

RAB Geochemistry Results

Nickel assay results from the RAB drilling are shown in Figure 3 (see link below). Significant intercepts (downhole widths) include: (see link below)

Significance of results - a primary nickel target is found

The Paynes Find Greenstone belt is described as primarily an arcuate sequence of ultramafic rocks younging westward to more acid volcanic and volcanoclastic rocks. These have been intruded by later stage east west oriented dykes and numerous thin pegmatites presumably related to post deposition granitic intrusion. The belt is bounded to the east by massive granite and has been folded and faulted.

The model for nickel mineralisation is generally divided into three distinct types:

1. a layered intrusive sill of ultramafic composition;

2. extrusive flows with mineralisation as accumulates within lava flow channels, tubes and tunnels, and

3. as lateritic deposit from surficial weathering.

The extrusive model has generally been favoured in this area by previous explorers, making the basal contact of the local ultramafic units a clear target for exploration.

Extensive, thick laterites are not well developed in the area, though they have not been definitively tested. However, local laterite development is seen. Moreover, it would be expected that nickel and cobalt anomalous laterite development would be seen above primary nickel sulphide mineralisation.

The Primrose Project holds a number of mafics that are candidates for extrusive style nickel where nickel accumulates at the base of the flow. The primary exploration method for basal contact nickel mineralisation is aeromagnetic data supported by geochemical testing.

Figure 3 (see link below) shows the anomalous nickel RAB geochemistry on an image of the enhanced aeromagnetic data over the project. Target "A" shows the nickel anomalism in hole PFRAB1770 sits on the contact between a magnetic unit to the west (red shades in the image) and a nonmagnetic unit to the east (blue shades). Target "B" shows a similar setting, though the nonmagnetic unit to the east is slightly more magnetic than that seen near target "A" (having green, rather than blue shades in the image.) Both targets display classic characteristics of the extrusive style of nickel mineralisation.

Importantly, geological logging of the RAB cuttings indicate that four of the five cited anomalous holes intersected probable mafic lithologies or clays derived from mafic lithologies.

Areas tested further north returned no results that are considered significant at this time. Further work may, however, conclude otherwise.

An Emily Ann/Maggie Hay analogue?

The geological setting of these RAB results is interpreted to be very similar to that seen at the Emily May nickel deposit, west of Norseman, WA. There, "the deposit occurs in a complex geological setting, consisting dominantly of felsic volcaniclastics hosting subordinate discontinuous lenses of mineralised and barren ultramafics, which dip at between 40deg and 60deg to the east in the vicinity of the deposit. The ultramafics and associated nickel-sulphide mineralisation do not extend to the bedrock surface and are therefore totally blind." (Peters and Buck, 2000, The Maggie Hays and Emily Ann nickel deposits, Western Australia: A geophysical case history, Expl Geophys, 31, 210-221). The Emily Ann deposit contained inferred and indicated resources of 2.17 Mt at 3.71% Ni at the time of the cited publication. Figure 4 (see link below) shows the projection of that resource onto an image of the aeromagnetic data over the area, with the similarity to Target A being striking.

Going Forward

Mr Marcus Flis, Director and Exploration Manager, expressed his delight in the development of this new target on the Primrose Project, commenting, "The nickel potential of the area has always been hinted at by previous explorers. Cervantes have now developed a working geological model to follow-up on what can only be described as noteworthy nickel and cobalt geochemical results. We are now in a position to add another dimension to Cervantes' gold exploration in the area and will be formulating a follow-up programme to realise its potential."

About the Primrose Project

The Primrose Project covers in excess of 8km of the highly gold mineralised Primrose Shear in the Murchison District of the Eastern Goldfields, Western Australia. Over 37 gold mines, of various sizes, operated in this field from 1911 till 1982. Some 63,000 ounces of gold was mined at an average grade of 25g/t during this period. It is generally accepted that significantly more gold than this was won from alluvial and unreported production.

Cervantes now controls 25 mining leases, prospecting licences, and an exploration licence that cover the majority of this historic gold field. A large database of drilling, surface geochemistry, geological, and geophysical data has been assembled to allow the field to be better understood than at any time in its history.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Z5KB19D8 

Collin Vost
Executive Chairman
T: +61-8-6436-2300
E: cvost@cervantescorp.com.au
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Central Petroleum Limited (ASX:CTP) Latest Company Presentation

June 11, 2018, 8:56 pm
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Central Petroleum Limited (ASX:CTP) provides the Company's latest Presentation at Credit Suisse 5th Annual Australian Energy Conference.

CENTRAL'S STRATEGY

PHASE 1

- Triple Gas Sales for the Northern Gas Pipeline (NGP) - now in two stages due to external lateral upgrades

- Get NT interconnected - achieved

- Pipeline reform to mitigate tyranny of distance - substantially achieved

- Upgrade existing facilities at Mereenie, Palm Valley and Dingo to become capable of processing 83 TJ/d (30 PJ p.a.) (gross) (nett to Central 54 TJ/d (20 PJ p.a.)) - underway

- Debottleneck external Mereenie spur line to match plant capacities - discussions underway

PHASE 2

- Prove up the Stairway and Ooraminna

- Increase recovery of Palm Valley

- Drilling results will determine whether to just upgrade NGP or enough reserves to justify new pipeline dedicated to domestic market

- Develop as soon as possible ATP 2031 by drilling a 9 well programme in joint venture with IPL (CTP free-carry) - targeting 15-20 PJ p.a. (gross) (7.5-10 PJ p.a. nett to Central)

- Results of present programme will inform development plan needed to prove up Phase 2 reserves

To view the full presentation, please visit:
http://abnnewswire.net/lnk/5372Y57B 

Central Petroleum Limited
T: +61-7-3181-3800
F: +61-7-3181-3855
E: info@centralpetroleum.com.au
WWW: www.centralpetroleum.com.au

Media Enquiries
Martin Debelle at Citadel-MAGNUS
T: +61-2-8234-0100
M: +61-409-911-189
↧

Cryptocurrency Exchange Binance.com (CRYPTO:BNB) Lists Streamr (CRYPTO:DATA)

June 11, 2018, 11:22 pm
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Cryptocurrency Exchange Binance.com (CRYPTO:BNB) advise that DATA/BTC (CRYPTO:DATA) and DATA/ETH trading pairs are now available on Binance for trading. Users can now start depositing DATA in preparation for trading.

Introduction

Streamr is building a decentralized marketplace for real-time data, and tools that work seamlessly with it.

Currently, the world's data is in silos, or held and monetized by a handful of giant corporations. Data is either being underutilized, or its value doesn't end up with the producer of the data. In the Streamr network, data owners can use and sell their data as they wish. Machines and people can trade data and create an ecosystem around real-time data.

The data travels in a decentralized P2P network with nodes incentivized by the Streamr DATA token. The Streamr network is a blockchain agnostic companion network for massively scalable data transport. Existing blockchain ecosystems are used for payments, identity, and access control.

In addition to the marketplace and network infrastructure, Streamr has a visual programming environment to help explore, utilize, and connect data. Data is not usually useful in raw form. Computation is needed to turn data into information and automation. Data streams can be combined, aggregated, filtered, and visualized. Actions can automatically be taken as a response to data.

With the toolset including the marketplace, scalable messaging infrastructure, and easy-to-use tools, Streamr makes data available, usable and decentralized at the same time.

Max Supply: 987,154,514 DATA

Circulating Supply: 677,154,514 DATA

Issue Price: $ 0.061500

To view the Whitepaper, please visit:
http://abnnewswire.net/lnk/0193MNHN 

Binance
E: market@binance.com
WWW: www.binance.com

Streamr
WWW: www.streamr.com
↧
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Emmerson Resources Limited (ASX:ERM) Strategic Alliance and Exploration Update Presentation

June 12, 2018, 4:48 pm
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Emmerson Resources Limited (ASX:ERM) (OTCMKTS:EMMRF) (ERM) provides the opportunity to view a video interview by ProactiveInvestors Stocktube with Rob Bills, Managing Director.

To view, please copy the following details into your web browser:
http://www.abnnewswire.net/lnk/8Z81SGIB 

For further information, please contact: 

Rob Bills
Managing Director and CEO
E: rbills@emmersonresources.com.au
T: +61-8-9381-7838
www.emmersonresources.com.au 

Media enquiries

Michael Vaughan, Fivemark Partners
E: michael.vaughan@fivemark.com.au
T: +61-422-602-720
↧

Mithril Resources Limited (ASX:MTH) Investor Presentation June 2018

June 12, 2018, 5:00 pm
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Mithril Resources Limited (ASX:MTH) provides the Company's latest Investor Presentation June 2018.

What Mithril offers

- High impact work program commencing late June 2018:

o Drilling for Kambalda-style nickel sulphides at Kurnalpi

- And exciting blue sky growth opportunities:

o Kurnalpi nickel-cobalt targets

o Billy Hills zinc targets

o Scotia nickel targets

o Nanadie Well copper targets

o Genoa Bore copper-zinc targets

Share Purchase Plan Details

- Eligible shareholders can purchase up to $15,000 worth of new shares

- No brokerage fees

- Issue Price - will be a 20% discount to the 5-day volume weighted average price ("VWAP") up to and including the day before the issue of the shares. The final issue price announced on the day which the issue is made.

- Use of funds:

o Kurnalpi nickel-cobalt drilling / geophysics program

o ongoing target generation activities, working capital

- Directors participating in full

Refer to The SPP - Offer Documents & Terms and Conditions sent to eligible shareholders on 28 May 2018

High impact work program

- Kurnalpi Nickel Cobalt

- Excellent access & infrastructure

- New downhole EM conductor adjacent to nickel sulphides

- 7 kms of nickel-prospective ultramafic rocks with little or no previous testing

Targeting Kambalda style massive sulphides

- Nickel sulphides confirmed

- Kambalda style ultramafic rocks

- New (untested) off hole EM conductor

- Strong nickel-cobalt drill intercepts along strike with no previous EM geophysics

- First drill test of the off hole EM conductor + EM geophysics to identify further drill targets commencing late June 2018

To view the full presentation, please visit:
http://abnnewswire.net/lnk/I5I7RX6S 

Mithril Resources Limited
T: +61-8-8132-8800
E: dhutton@mithrilresources.com.au
WWW: www.mithrilresources.com.au
↧
↧

Liquefied Natural Gas Ltd (ASX:LNG) Funds Received for Share Placement to IDG Energy Investment

June 12, 2018, 7:57 pm
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Liquefied Natural Gas Limited (ASX:LNG) (OTCMKTS:LNGLY) (LNGL or the Company) is pleased to advise that the share placement announced on 4 June 2018 has now closed and the Company has received A$28.2 million before costs from the placement of 56,444,500 ordinary shares to a wholly owned subsidiary of IDG Energy Investment Group Limited.

Net proceeds from the share placement shall be used in support of ongoing liquefied natural gas (LNG) offtake marketing efforts, focused on Magnolia LNG, and for general corporate purposes.

A cleansing notice relating to the issue follows (see link below). The placement shares will be subject to voluntary escrow for 180 days from today's closing.

ABOUT IDG ENERGY INVESTMENT GROUP LIMITED

IDG Energy Investment is mainly engaged in global energy assets investment and management. It is currently focusing on the substantial investment opportunities arising from China's increasing demand for imported natural gas and the emerging North American LNG exporting market due to abundant low-cost shale gas supply. By investing in China's first non-stateowned LNG receiving terminal and one of the largest Canadian LNG export terminals under development, it has been making strategic investments along the LNG business value chain. Other energy assets invested by IDG Energy Investment include an upstream crude oil block in China, and a world-class shale block in Eagle Ford of the United States, etc.

IDG Energy Investment is affiliated with IDG Capital, a global leading private equity investment firm with its accumulated assets under management approximately US$ 20 billion. IDG Energy Investment's second largest shareholder, Foxconn, is the world's largest electronic products manufacturer and a Global Fortune 500 company ranking 27t h in 2017.

With strong supports from its shareholders, mature investment strategies, sophisticated cross-border transaction capabilities and in-depth knowledge on global energy market, IDG Energy Investment is best positioned to grasp the industry momentum brought by China's energy structural reform and the dynamic changes of the global natural gas market, and is committed to becoming the best cross-border energy asset investment manager of the region.

For further information, please refer to IDG Energy Investment's website:
http://www.irasia.com/listco/hk/idgenergv/

ABOUT IDG CAPITAL

Founded in Boston in 1992, IDG Capital is a leading investment firm focused on developing companies through expertise in private equity, venture capital, and mergers & acquisitions. Since its inception, IDG Capital has expanded into fifteen cities around the world, including New York, Boston, London, Beijing, Shanghai, Hong Kong, Seoul, and Hanoi. Accumulated assets under management have grown from US$10 million in 1992 to approximately US$20 billion today.

IDG Capital focuses investment in four strategic sectors: Technology, Media and Telecommunications; Consumer and Entertainment; Healthcare; and Advanced Manufacturing/Clean- Tech and Energy. Within these sectors, IDG Capital will invest in companies at all stages of development: start-up, growth, maturity, pre-lPO and post-IPO. The size of investment ranges from one million to several hundred million U.S. dollars. To date, IDG Capital has invested in more than 700 companies and has made over 150 successful exits across the globe through IPOs and M&A.

For further information, please refer to IDG Capital's website:
http://en.idgcapital.com

To view the release, please visit:
http://abnnewswire.net/lnk/Y8MV0CPV 

Mr. Micah Hirschfield
Sr. Manager, Communications and Investor Relations
Liquefied Natural Gas Limited
T: +1-713-815-6920
E: mhirschfield@lnglimited.com
↧

Lake Resources NL (ASX:LKE) Kachi Drilling Reinforces Confidence in Scale of Discovery

June 13, 2018, 3:28 pm
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Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) is pleased to provide an update on drill results and ongoing exploration activities at its 100%-owned Kachi Lithium Brine Project in Catamarca Province.

- Initial drilling confirms the Kachi Lithium Brine Project is an exciting maiden discovery of a very large and deep salt lake basin, of similar size to globally significant lithium producers.

- Kachi is likely to be a partially covered salt lake over 22 x 8 kilometres that hosts a very large lithium brine body with potential to increase further.

- Eight rotary and diamond drill holes ended in lithium brine-bearing sediments. Results reported for 7 resource drill-holes, from 3 drill platforms, with variable depths up to 405 metres.

- Highlight is drill-hole K03R03 (northern area), with higher brine grades closer to the centre of the basin averaging 306mg/L lithium, low impurities and low average Mg/Li ratio of 4.3, a ratio similar to large Argentine projects of Galaxy and Neo Lithium.

- K03R03 results indicate higher concentrations of lithium bearing brines occur at depth in the northern area compared to shallow drilling (
- Passive Seismic Geophysical survey indicates lake sediments continue to depths greater than 600m. Drilling results from site K06 correlate with seismic survey results.

- Excellent passive seismic data vindicates the exploration approach and aids planning of additional drilling sites. The results of K03R03 in the north are being followed up to establish the lateral and depth extent of higher lithium grades and to assess flow rates.

- Drilling continues to expand the data set for an initial resource estimate in the coming months.

- Work in Jujuy province continues, aimed at gaining drill access to the Cauchari area.

The Company can now definitively demonstrate that lithium brine is present from near surface to over 400m depth in drill holes spaced 11km apart (see Figure 1 in link below) across the project. Drilling and seismic geophysical surveying also confirms Kachi is a very large-scale partially covered salt lake over an area of at least 22 x 8 kilometres (more than 150 km2). Brine is interpreted to continue in sandy sediments beneath gravels and volcanic rocks with the potential to increase this area significantly as they may hide the true size of the basin.

Lake has been conducting two concurrent phases of drilling operations:

1. Resource and exploration drilling utilising a diamond drill rig to collect drill cores for porosity assessment and to obtain brine samples for resource estimation, and

2. Production well drilling using rotary drill rigs for additional resource estimation data and construction of wells for test pumping purposes. These will be available to pump lithium brine into trial evaporation ponds and test the brine evaporation and chemical evolution under site environmental conditions. A total of eight drill holes have been completed on three separate drill platform locations (see Figure 1 in link below).

Note: A change in naming convention for drill sites and drill hole identification has been undertaken for management purposes where D represents diamond drill holes and R rotary drill holes.

Resource Drilling - Kachi Lithium Brine Project

Lake Resources' 100%-owned Kachi Lithium Brine Project in Catamarca province, Argentina covers over 50,000 hectares of mining leases owned 100% by Lake's Argentine subsidiary, Morena del Valle Minerals SA. These are held over the centre of the known Kachi salt lake in the deepest part of the basin. Surface sampling has revealed positive lithium results in brines, which are being explored at depth through the drilling and geophysics programs.

The current status of resource diamond drilling comprises the completion of four diamond drill-holes on four platforms and analysis of brine samples. A further diamond drill hole is currently underway at a new location (platform K05). Four rotary wells have also been drilled to date with a further drill hole recently started on platform K03 in the west of the project. Table 1 (see link below) provides drill hole location details and lithium results which are averaged where multiple samples have been taken at a single interval.

Recent drilling intersected different interlayered lithologies which are dominated by sandy sediments. Samples have been collected for porosity tests in a laboratory in the USA with extensive experience in analysing salt lake sediments for their porosity characteristics, in particular the specific yield (also known as drainable porosity). Given the success of exploration in confirming elevated lithium concentrations and favourable sandy sediments for brine extraction the company intends to conduct a resource estimate for the project in accordance with the JORC reporting code as soon as practical. This will include the porosity data and systematic brine analyses from the drilling samples.

Analytical results for lithium to date have been highest in drill-hole K03R03 (northern area). Brine samples in this hole display encouraging densities with a favourable Mg/Li ratio of 4.3. This area is a key target for ongoing investigation. In the short term drilling will return to this area and target deeper unconsolidated brine bearing sediments confirmed by the passive seismic geophysical survey. Figure 2 (see link below) shows an extensive area with potentially very deep lake sediments in the vicinity of K03 that is yet to be investigated.

Diamond drilling intersected thick intervals of intercalated sands, gravels and sandy clays with some clay horizons. The predominant litho-type of lake sediments is sand-dominant, and poorly consolidated, with relatively low core recoveries in sandy material. Initial indications from field hydraulic testing indicate high permeabilities for the sandy material, which will be further tested with the installation of large diameter production test bores.

The deepest drilling to date at 405m has been undertaken in the south of the project area in diamond drill hole K06D08 (see Figure 1 in link below).

Brine Chemistry

Brines with high density (1.18 - 1.22 g/cm3) have been intersected in thick sandy and gravelly aquifers, with the best results to date being 306 mg/L after 27 hours of airlifting from hole K03R03, installed with filters over an interval of 3 - 242m. This is located further towards the centre of the northern area of the salt lake. To date the lithium brines analysed show positive chemistry with low combined impurities (boron, sulphate, calcium, magnesium, iron). A number of sample results are pending from recent drilling from site K05 and regular updates will be provided as drilling progresses.

Average lithium grades from deeper levels (350 - 400m) in the south at K06 also show high density (1.2 g/cm3), however the brine grade of 180 mg/L suggests that the brine is distinct from that at the K03 site. Deeper horizons are now being targeted in the vicinity of site K03 where positive results have been previously found with the aim of locating higher grades and extend the potential size of the brine mineralisation.

Geophysical Survey

A seismic geophysical survey is being undertaken using passive seismic techniques, with the aim of developing an understanding of basin geometry and thickness of the sediments hosting the brine. This method distinguishes lithologies with highly contrasting seismic velocities such as unconsolidated lake sediments and harder cemented sediments, basement rocks or ignimbrites (compact volcanic ash units) and has been used very successfully on a number of salt lake projects in South America and Australia. To date 170 stations have been processed.

The distinct reflectors identified in the survey correlate well with dense lithologies such as a number of ignimbrite units within the predominantly sandy sediments and probable basement rocks intersected at 300m depth in K06D08 in the south of the project area (see Figure 2 in link below). Drilling at K06 provides a correlation with the seismic survey and indicates the presence of unconsolidated sediments to a depth in excess of 500m under gravel cover away from the areas of surface salt where drilling is currently being conducted and in excess of 600m in the vicinity of site K03. Figure 2 (see link below) shows a schematic cross-section and raw data used for the interpretation.

Importantly the seismic survey also suggests the majority of the basaltic volcanic material visible at surface forms a thin veneer overlying lake sediments, which is very positive for the project as it further increases the volume of sediments that potentially host brines.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/ONDL4OF1 

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au
↧

DroneShield Ltd (ASX:DRO) Middle Eastern Ministry of Defence Orders 70 DroneGuns

June 13, 2018, 3:38 pm
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DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce that it has received an order for 70 units of its DroneGun(TM) tactical jammer product for use by the Ministry of Defence (the "MOD") of a major Middle Eastern country allied with the Western governments. This approximately $3,200,000 order was placed for the MOD with the Company by the Company's distributor Zariba Security.

- A $3,200,000 order for 70 DroneGuns(TM) for use by a Middle Eastern Ministry of Defence received.

- A sophisticated user with one of the largest defence budgets in the world.

- The largest known order of its kind in the industry to date, globally.

- The largest order in the history of the Company.

- Larger follow on orders in the pipeline.

- Cements DroneShield's leadership in the industry.

This is the largest known order for tactical drone mitigation equipment of this kind globally in the history of the industry. This is also the first order for multiple DroneGun(TM) units, the largest order in the Company's history, and the Company's first multi-million dollar order. This is significant since the drone detection and mitigation industry is only several years old, and allocations of substantial governmental funding for anti-drone equipment purchases have only commenced in size in the recent 12 months.

Oleg Vornik, DroneShield's CEO, commented "We believe that this is a company-making sale and a game-changer for DroneShield, for the following reasons.

- The MOD has one of the largest defence budgets in the world. We view this order as just a start of our relationship with the MOD and expect to receive substantial (and substantially larger) additional orders for this product and other products of the Company for the MOD and for other ministries and agencies in-country and elsewhere in the region.

- This sale, the largest ever in the industry for this kind of equipment, establishes DroneShield as the leader in the industry, globally, and places DroneShield well ahead of its competitors in the global anti-drone industry "land grab".

- A large order by one of the most sophisticated users of security and defence equipment in the world validates the quality, effectiveness and competitiveness of our products.

- DroneShield's sales pipeline includes dozens of contracts that DroneShield is pursuing, in various stages of advancement, in dozens of countries. These range from a few tens of thousands of dollars to tens of millions of dollars each. Necessarily, not all, and there can be no assurance that any, of these sales opportunities will result in sales. However, DroneShield expects that this validation by a demanding user will accelerate the adoption of our products by a range of governmental and corporate users globally and accelerate the execution time-frame for our sales.

- We have previously advised the market of our discussions with larger industry participants about a range of potential corporate transactions. These discussions are on-going. Larger defence "prime contractors" and security integrators are looking to ascertain which companies emerge as the winners in the anti-drone "arms race." This order places DroneShield at the forefront of the industry and is likely to have a substantial positive effect on DroneShield's corporate discussions with larger industry players."

This order comes against the backdrop of significantly intensified nepharious drone activity in the Middle East. By way of example, among the dozens of reported drone attacks reported in the region since the beginning of the year were the following:

- Israel was reported to have intercepted an Iranian drone.

- UAE was reported to have intercepted an Iranian drone.

- Yemen's Houthi rebels were reported to have attacked a Saudi Aramco facility.

- Saudi Arabia was reported to have shot down (using conventional small arms) a drone in the vicinity of a royal palace.

- An attempt to attack a Saudi Arabian airport with a terrorist drone was reported.

The Company's ability to fulfil the order is subject to approval by a U.S. regulator overseeing defence exports. For clarity, only some of the Company's potential orders require such approval since sales of some of the Company's products to a number of countries allied with the United States do not require U.S. regulatory approval. The Company expects to receive such approval, if it is granted, in the next two months, using the established U.S. defence product sale approval process. There are, of course, no guarantees that the approval for this particular order will be granted.

To view figures, please visit:
http://abnnewswire.net/lnk/PHJV50JA 

Oleg Vornik
CEO and Managing Director
Email: oleg.vornik@droneshield.com
Tel: +61-2-9995-7280
↧
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