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Core Exploration Ltd (ASX:CXO) New High-Grade Assay Results Expected to Expand Grants Lithium Mineral Resource

July 23, 2018, 3:45 pm
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Emerging lithium developer Core Exploration Ltd (ASX:CXO) ("Core" or the "Company") is pleased to announce the return of wide, high-grade intersections confirming the discovery of significant extensions to the Grants Lithium Deposit, part of the Company's wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.

HIGHLIGHTS

- Multiple new high-grade lithium intersections outside the Mineral Resource at Grants include:

o 67m @ 1.57% Li2O from 191m in FRC151

-- Including 16m @ 2.17% Li2O

-- And 12m @ 2.08% Li2O

o 45m @ 1.72% Li2O from 188m in FRC154

-- Including 22m @ 2.09% Li2O

o 45m @ 1.72% Li2O from 142m in FRC159

-- Including 16m @ 2.03% Li2O

o 30m @ 1.70% Li2O from 206m in FRC153

-- Including 2m @ 2.12% Li2O

- New assays confirm significant extensions directly south along strike and at depth at Grants - outside of the existing defined Mineral Resource.

- These extensions demonstrate the potential to further increase the size of the Mineral Resource and mine life at Grants, which is expected to have material positive impact on the financial returns from development of the proposed 1Mtpa Finniss Lithium Project.

- Drilling underway at BP33 and first assays expected in coming weeks.

- Drilling then to recommence at Grants to test further down plunge.

Regional exploration drilling continues within the larger Finniss Lithium Project with results expected from Carlton, Hang Gong, Highland and Far West Central expected next month

New drilling results are located outside of the existing defined Mineral Resource at Grants and therefore highlight the potential to immediately grow the currently defined Mineral Resource at Grants (see Figure 1 in link below), which underpins the strong economics of the recent Pre-Feasibility Study.

The average grades of the new significant extensions intersected at Grants are above the Mineral Resource grade of 1.5% Li2O and include wide intervals up to 22m, grading >2% Li2O.

These new intersections are expected to add to the existing Mineral Resource at Grants and highlights that the spodumene pegmatite orebody is open along strike and down-plunge to the south (see Figure 1 in link below).

These extensional targets at Grants will be the focus of the next round of drilling once the RC rig has completed drilling at BP33.

Drill Results from Grants

Multiple new high-grade lithium intersections from Grants include:

o 67m @ 1.57% Li2O from 191m in FRC151

-- Including 16m @ 2.17% Li2O

-- And 12m @ 2.08% Li2O

o 45m @ 1.72% Li2O from 188m in FRC154

-- Including 22m @ 2.09% Li2O

o 45m @ 1.72% Li2O from 142m in FRC159

-- Including 16m @ 2.03% Li2O

o 30m @ 1.70% Li2O from 206m in FRC153

-- Including 2m @ 2.12% Li2O

These new results highlight the potential to increase the size of the Grant's Mineral Resource to be incorporated in the Definitive Feasibility Study (DFS) later this year. The DFS will build on the strong economics defined in the recently released Pre-Feasibility Study (PFS) (see ASX- CXO 25/06/2018) focused on the production of lithium concentrate, commencing in late 2019 from the Finniss Project.

All but one of the 12 exploration holes drilled in this recent phase of drilling (see ASX- CXO 6/07/2018) intersected pegmatite extensions to the Grants Mineral Resource. Six of these had significant intercepts, one failed to reach target depth, and the remaining five holes at the extremes of the deposit were not mineralised (see Figure 1 in link below).

Drilling is advancing at BP33, testing a similar pegmatite model to Grants, targeting extensions to the initial JORC-2012 Mineral Resource (see ASX- CXO 23/05/2018). Results from BP33 drilling are expected in the coming weeks. Once that first-pass drilling is completed, the rig will return to Grants to test for further down-plunge extensions and infill the successful holes outlined herein.

A second RC rig has made progress at a number of other prospects in the northern part of the Finniss Project area, including Carlton, Hang Gong, Highland and Far West Central, and will continue on to other targets in the greater Grants area. Results from this drilling will be released in due course (see Figure 2 in link below).

Commenting on these recent results, Core's Managing Director, Stephen Biggins said "These high-grade results highlight the significant upside potential for the Finniss Project.

"These new extensions to the Mineral Resource area, as well as the addition of BP33 Mineral Resources, are expected to have a material impact on the economics for the Finniss Project.

"The Pre-Feasibility Study for Grants highlighted exceptional returns and these results, which have the potential to extend the mine life of the project at minimal to no additional capex, are extremely exciting."

To view tables and figures, please visit:
http://abnnewswire.net/lnk/X87Z2G5P 

For further information please contact: 

Stephen Biggins
Managing Director
Core Exploration Ltd
T: +61-8-7324-2987
E: info@coreexploration.com.au 

For Media and Broker queries: 

Andrew Rowell
Director - Investor Relations
Cannings Purple
M: +61-400-466-226
E: arowell@canningspurple.com.au
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Carnarvon Petroleum Limited (ASX:CVN) Phoenix South-3 Drilling Update

July 23, 2018, 4:09 pm
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Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN) (OTCMKTS:CVONF) is pleased to provide the following update on the drilling of the Phoenix South-3 ("PS-3").

Progress

The 9-5/8" casing has been set and cemented in place down to around 5,165 metres Measured Depth ("MD") and the well has drilled down to around 5,208 metres MD.

The results to date have been consistent with those encountered in Phoenix South-2.

Current Operations

The rig is currently preparing to set a 7-5/8" liner.

Forward Plan

After setting the liner the well will drill ahead in 6-1/8" hole to a planned depth of approximately 5,500 metres MD.

Controlled Drilling through Reservoir section

The previously drilled Phoenix South-2 ("PS-2") well was unable to fully evaluate the Caley Member due to high pressures encountered in that well. The PS3 well plan and its associated procedures employ controlled drilling operations prior to and during the drilling of the reservoir section. As a consequence, drilling progress will be slower than that previously experienced in the other wells in the Phoenix project.

Well Objective

The primary objective for the Phoenix South-3 well is to evaluate the gas and condensate potential of the Caley Member within a large, faulted anti-clinal closure that was partially penetrated with the Phoenix South-2 well.

Phoenix South-2 encountered gas and condensate in the Caley Member but was unable to drill through and evaluate the formation. The Phoenix South-3 well has been optimally designed to penetrate and evaluate the hydrocarbon bearing formations of the Caley Member.

Phoenix South-3 is located around 560 metres North-North East of the Phoenix South-2 well. The well will target a closure that is estimated by Carnarvon to contain a gross mean recoverable prospective resource of 489 Bscf of gas and 57 million barrels of associated condensate (being 143 million barrels of oil equivalent ("boe"), gross, Pmean) - Refer to ASX Announcement on 28 March 2017.

Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may relate to undiscovered accumulations. These prospective resource estimates have an associated risk of discovery and risk of development. Further exploration and appraisal (including this well) is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. 
 
Project equity Owners: 

Carnarvon Petroleum          20% 

Quadrant Energy (Operator)   80%

To view figures, please visit:
http://abnnewswire.net/lnk/010H5AG3 

Investor inquiries:
Thomson Naude
Company Secretary
Phone: +61-8-9321-2665
Email: investor.relations@cvn.com.au

Media inquiries:
Luke Derbyshire
Managing Director, Spoke Corporate
Phone: +61-488-664-246
Email: luke@spokecorporate.com
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Thundelarra Ltd (ASX:THX) Crown Prince - New Gold Hits Plus Oxide Potential

July 23, 2018, 4:18 pm
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Thundelarra (ASX:THX) (OTCMKTS:TLXPF) is pleased to provide results of the diamond and reverse circulation drilling programme carried out at the Crown Prince Prospect, which forms just one part of our exciting Garden Gully gold project near Meekatharra, a well-established and proven gold production centre in Western Australia's Murchison Province.

- 17 holes drilled for 3,713m advance

- 11 reverse circulation ("RC") holes plus six RC pre-collars (2,560m)

- Six diamond ("DD") tails drilled for 1,153m advance

- New significant intersections at Crown Prince (downhole widths):

o 3.25m at 18.5 gpt Au from 107m in TGGRCDD142

o 6.0m at 4.0 gpt Au from 37m in TGGRC151

o 11.0m at 4.9 gpt Au from 42m in TGGRC153

o 5.0m at 3.6 gpt Au from 24m in TGGRC162

- Previously announced intersections (downhole widths):

o 3.5m at 7.6 gpt Au from 109m in TGGRC086

o 2.6m at 7.5 gpt Au from 130m in TGGDD090

o 4.0m at 16.5 gpt Au from 166m in TGGRC103

o 3.8m at 3.5 gpt Au from 220m in TGGRCDD108

o 2.40m at 66.5 gpt Au from 263.4m; within

o 5.65m at 29.2 gpt Au from 260.8m; within

o 8.00m at 22.3 gpt Au from 259.2m in TGGRCDD110

Full details in ASX announcements dated 15-Nov-2017; 12-Dec-2017; and 08-Feb-2108.

Gold mineralisation was intersected in 13 of 17 holes drilled in this programme: another excellent result that further confirms the potential present at Garden Gully and in particular at Crown Prince. The geological data from this programme, combined with the geophysical data from SAM surveys, have delivered improved understanding of the structural controls and solid indications that the known mineralisation at Crown Prince could repeat, and nearer to surface in the oxide zone, immediately to the northeast in previously untested areas.

Results from over 31,500m drilled in 167 holes (27,915m RC; 3,676m DD) since mid-2016 continue to indicate the presence of a major, previously undiscovered, gold-mineralised system at Garden Gully, in one of Western Australia's most productive gold provinces.

Conclusion.

This programme at Crown Prince continued to deliver outstanding results, further confirming the presence of high grade mineralisation in the known lodes and establishing the new geological theory that the mineralisation extends into the oxide zone to the northeast of the Crown Prince in areas never previously tested. This augurs well for future exploration at Crown Prince in particular.

In addition, the combination of data from this drilling and from the SAM surveys carried out suggests that the Western Contact could well extend to the western main shear zone (inferred position marked on the left-hand side of Figure 4)(see link below), which was never tested in the past. If the model is right, one or more repetitions of the same style as the Main and Northern Lodes could be present within the entire area bounded by the major north-south trending structures that bound the Deformational Zone shown on Figures 3 and 4(see link below). Mineralised structures of this style have been recognised to the south within the Crown, Ardeal and Battery prospects during the recent mapping programs and they clearly follow the margin of ultramafic or spinifex-textured basaltic units.

The areas of interest along those structures are the demagnetised sectors which show a higher grade of deformation. The Crown Prince Prospect, host to the best gold grades encountered to date within the entire Garden Gully project, is just such an area.

The priority drill target for the next exploration phase will be the northeast structural corridor where no drilling has been carried out to date. Multiple high-grade zones appear to be present within the weathering profile in this confined structural corridor. This area offers significant potential for previously undiscovered near-surface high grade oxide gold mineralisation.

Details of Drilling Programme Completed.

The programme was designed to test the area north of the main pit where the Main Lode crops out. It comprised 11 RC drill holes and a further six RC pre-collars with diamond tails for a total of 17 drill holes. Total advance 3,713m (RC 2,560m; DD 1,153m). Details of the holes drilled (collar locations and drill traces for each hole) can be found in Table 1 and Figure 3(see link below). Significant intersections are summarised in Table 2(see link below).

Three RC holes were drilled easterly just north of the main shaft, where the Main Lode crops out, with the aim of confirming the position of various mineralised intersections reported in historical drilling. Significant mineralisation was encountered (Figure 4, Table 2)(see link below) which included high grade gold intersections in TGGRC151 (6m at 4.0 gpt Au from 37m) and TGGRC153 (11m at 4.9 gpt Au from 42m) within the weathering profile.

Interpretation of the structural setting, based on the data obtained from the Sub-Audio Magnetics ("SAM") geophysical surveys conducted, indicates that the Northern Lode, rather than being a single mineralised structure as per historical interpretations, in fact appears to be just one of multiple Riedel structures carrying gold grades that are confined within a NNE trending structural corridor extending through and beyond the historical Crown Prince workings (see Figure 3 in link below). This is highly significant as it raises the possibility that the lodes mined historically at Crown Prince could repeat at shallower depths, in the oxide zone, to the north-east in an area not previously explored.

Holes TGGRCDD141-144 targeted the northern and down dip extensions of the Northern Lode. High grade gold was intersected in TGGRCDD142 (3.25m at 18.5g/t Au from 107m) which was drilled 40m north of the 7073815mN cross-section through the Northern Lode shown in Figure 5(see link below). Holes TGGRCDD143 and 144 were drilled south-easterly and south-westerly respectively from the 7073865N line, so their traces on Figure 5 (see link below) are not precisely in the same plane as that cross-section.

TGGRCDD143 intersected the Northern Lode, returning a significant zone of 13.5m at 2.2 gpt Au from 87.2m (including 2.3m at 3.6 gpt Au from 87.6m) and a second zone of 6.2m at 2.9 gpt Au from 109.4m down hole. TGGRCDD144 also intersected the Northern Lode: 6.2m at 2.5 gpt Au from 174.3m down hole.

Four holes drilled on the south-western part of the tenement were designed to test the down-dip extension of the Main Lode. Two were abandoned as the deviation on the RC pre-collars rendered them unsuitable for the planned deep diamond tails. TGGRC154 was drilled north/north-easterly and intersected an unpredicted mineralised shear zone between 117-125m. Another RC pre-collar was drilled behind this hole and finished with a deep diamond tail (TGGRCDD155). Low grade mineralisation was intersected between 119-130m (see Appendix 1 in link below).

TGGRC156 was abandoned at 167m due to high deviation. Another RC pre-collar drilled nearby was finished with a deep diamond tail to test at depth the western extension of the Main Lode (TGGRCDD157). This hole intersected the same northerly trending mineralised high-strain shear zone between 178-193m and an alteration zone between 414-422m without returning any significant gold anomalism. SAM surveys were subsequently undertaken, interpretation of which shows that this mineralised structure is the high-strain zone which bounds the Main Lode to the west (see Figure 3 in link below). The Main Lode was intersected as expected below 325m down hole and appears to split into several branches carrying narrow low-grade gold values. All the significant assay results between 325.8-352.4m interval are shown in Appendix 1(see link below).

TGGRCDD161 was drilled within the median section of the WNW-ESE trending extension of the Main Lode inferred from the SAM interpretation. The hole intersected the lode between 175-180m and returned low-grade gold mineralisation (5m at 0.9gpt Au).

The programme also tested the shallow supergene gold present north of the Main Lode where the Northern Lode was targeted by miners at shallow depths. Four holes were drilled within this area (TGGRC162, 164-166: Figures 3, 4)(see link below). TGGRC162 intersected the Northern Lode at shallow depth, returning 5m at 3.6gpt Au from 24m, with TGGRC164 returning 4m at 1.3 gpt Au from 31m.

TGGRC163 tested the Western Contact between ultramafic rocks and dolerite/high-magnesium basalts. Highly anomalous gold were returned from this high strain zone (see Appendix 1 in link below) which remains prospective both to the south and to the north-east.

Structural interpretation from the SAM and regional aero-magnetic data shows that both the Main and Northern Lodes are located within a deformational zone where its trend turns from NNE to more clearly northeast-southwest and narrows due to the change in the compressional regime from east-west to northwest-southeast (see Figure 3 in link below). Such a change in the compressional regime creates the low pressure shadows/dilational zones that offer the best locations for gold mineralisation, especially when combined with the contrast between more competent dolerite/high-magnesium basaltic rocks and the underlying more ductile ultramafic unit, with the latter also acting as the reductant needed to drop the gold out of the mineralising fluids.

This can also explain the fragmentation of the Main Lode in the zones between the several sub-parallel high-strain shears present in the deformational zone between the Western and Eastern contacts where the gold mineralisation has been intercepted to date.

About Garden Gully.

Thundelarra's wholly-owned Garden Gully project comprises 15 granted Prospecting Licences and 2 granted Exploration Licences covering about 78 square kilometres, located in Western Australia's Murchison region about 20 kilometres north-west of the town of Meekatharra, a well-established and proven gold endowment centre in Western Australia's Murchison Province that has delivered in excess of seven million ounces of gold production to date.

Historical gold production from Garden Gully totalled about 21,000 ounces at approximately 21 grams per tonne. This was mined during the period 1909 to 1915 and was primarily sourced from Crown Prince (formerly known as Kyarra) and from a maximum reported depth of 120m.

Thundelarra began exploration at Garden Gully in mid-2016 and continues to explore the project aggressively as we test the unquestioned potential of the exciting Garden Gully project.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/154J86U5 

Mr Tony Lofthouse
Chief Executive Officer
Telephone: +61-8-9389-6927
Email: info@thundelarra.com.au
Website: www.thundelarra.com
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Classic Minerals Ltd (ASX:CLZ) High Grade Results at Forrestania

July 23, 2018, 4:39 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 received assays results from its recent RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. In this round of drilling, the Company has drilled a total of 22 holes for 1,990m - 12 holes for 1052m at Kat Gap and 10 holes for 938 metres at Lady Magdalene with the aim of improving/increasing known mineralisation at Lady Magdalene and Kat Gap.

Highlights:

- Kat Gap returns significant high-grade gold intercepts from 11 of the 12 holes drilled. Best results from most recent assays include:

o 8m @ 19.05 g/t Au from 32m including 4m @ 28.80 g/t Au from 32m

o 12m @ 7.52 g/t Au from 39m including 2m @ 20.20 g/t Au from 48m

o 12m @ 5.39 g/t Au from 30m including 1m @ 20.80 g/t Au from 30m

o 3m @ 10.70 g/t Au from 69m including 1m @ 23.10 g/t Au from 69m

o 2m @ 15.39 g/t Au from 70m

o 4m @ 9.53 g/t Au from 70m including 1m @ 26.60 g/t Au from 72 m

o 8m @ 7.14 g/t Au from 82m including 1m @ 21.10 g/t Au from 82m

- RC drilling at Kat Gap conducted over 140m of strike. System remains open along strike and down dip

- New gold zone identified 30m west of main Kat Gap mineralisation hosted within granite and totally missed by previous drilling. Results include:

o 8m @ 7.14 g/t Au from 82m including 1m @ 21.10 g/t Au from 82m

o 4m @ 7.44 g/t Au from 92m

o 3m @ 10.70 g/t Au from 69m including 1m @ 23.10 g/t Au from 69m

- Drilling at Lady Magdalene uncovers three potential cross-cutting quartz veins similar in orientation to the high-grade Lady Ada deposit. Better assays from the new quartz veins include:

o 1m @ 13.40 g/t Au from 64m

o 1m @ 9.36 g/t Au from 44m

o 4m @ 3.90 g/t Au from 46m

- Lady Magdalene main ore zone yields further thick zones of gold mineralisation. Results include:

o 10m @ 2.10 g/t Au from 43m

o 11m @ 2.39 g/t Au from 38m

o 10m @ 1.51 g/t Au from 65m

o 12m @ 2.12 g/t Au from 55m

o 15m @ 1.41 g/t Au from 36m

- Composite sampling of historic RC holes at Kat Gap returned 2,260ppm Li2O in LCT-type pegmatites

1. INTRODUCTION

Drilling results from Kat Gap confirms the discovery of a significant new zone of gold mineralisation within the granite which was previously thought to be barren. Drilling at Kat Gap also showed that high-grade gold mineralisation has effectively dammed up against a cross-cutting Proterozoic dyke. Drilling at Lady Magdalene yielded impressive results further confirming the existence of a number of high-grade, cross-cutting gold lodes previously missed due to the wide spaced drilling.

Classic CEO Dean Goodwin said:

The Forrestania Gold Project continues to deliver fantastic results for Classic and its shareholders. We encountered high grade zones of mineralisation at each of the drill targets which all remain open along strike with high priority zones requiring urgent follow up. Kat Gap is shaping up to become a prolific shallow high-grade gold deposit with so much remaining upside potential. We have only tested 140m of 3.5km of potential strike along this granite-greenstone contact and received excellent gold grades from 11 of the 12 holes drilled.

At Lady Magdalene, we have proven the existence of 3 potentially new high-grade cross-cutting quartz veins. As previously posited, these quartz veins could be analogous to those at Lady Ada - reinforcing the view that plenty more high-grade ounces are potentially hiding between the existing drill lines at Lady Magdalene. We will track these new quartz lodes both east-west and test for additional cross-cutting veins all the way south to Lady Ada.

We are planning to restart drilling at Kat Gap and Lady Magdalene in early August. This program will also include the drilling at Lady Lila and Van Uden West so there is plenty of good results to look forward to.

These new results bode well for the whole Forrestania project given that the main granite-greenstone contact, of which we have 40 km of strike, has been largely overlooked. I'm quite confident that new, high-priority gold targets will come to light elsewhere within the project area.

We should also point out that this drilling program, along with all associated assays and additional technical work cost less than $150,000 AUD. This is another notable example of CLZ's "new" approach to exploration planning and spending at FGP - we carefully plan all exploration activities and keep a tight control on costs to ensure shareholder funds are wisely spent with the goal of delivering value to all shareholders.

2. KAT GAP DRILLING - MULTIPLE HIGH-GRADE GOLD LODES

Classic drilled 12 holes for 1052m at Kat Gap and is pleased to confirm that eleven holes returned gold mineralisation striking in a north-south direction. The drilling was conducted over approximately 140m of strike with mineralisation open in all directions.

The majority of the drilling was focused on testing the main granite-greenstone contact which has been the sole focus of drilling since the prospect was discovered by previous holders. A few holes were also drilled up against a cross-cutting Proterozoic dyke where high-grade gold mineralisation is believed to have concentrated. Drill holes FKGRC006 - FKGRC010 (inclusive), FKGRC012, FKGRC013 and FKGRC015 all tested the main contact lode with hole FKGRC008 drilled close to the Proterozoic dyke. Better results from these holes included: 8m @ 19.05 g/t Au from 32m including 4m @ 28.80 g/t Au from 32m in FKGRC008; 12m @ 7.52 g/t Au from 39m including 2m @ 20.20 g/t Au from 48m in FKGRC006; 12m @ 5.39 g/t Au from 30m including 1m @ 20.80 g/t Au from 30m in FKGRC012 and 4m @ 9.53 g/t Au from 70m including 1m @ 26.60 g/t Au from 72m in FKGRC014.

It should be noted that holes FKGRC006 - FKGRC009 (inclusive), FKGRC010 and FKGRC011 were also drilled relatively close to the Proterozoic dyke to test CEO Dean Goodwin's theory that gold is concentrated up against the dyke. With the promising high-grade results returned from these holes, Classic will continue to track mineralisation against the dyke and follow it down plunge. It is currently believed that two high grade gold shoots exist either side of the Proterozoic dyke contact. The strike and down-plunge extent of these shoots is currently unknown.

Holes FKGRC010 - FKGRC012 (inclusive) all drilled into a newly discovered footwall lode located approximately 30m west of the main granite-greenstone contact lode hosted within the granite. Better results from these holes included: 8m @ 7.14 g/t Au from 82m including 1m @ 21.10 g/t Au from 82m in FKGRC010; 4m @ 7.44 g/t Au from 92m in FKGRC011 and 3m @ 10.70 g/t Au from 69m including 1m @ 23.10 g/t Au from 69m in FKGRC012. This new position is totally open along strike and down dip. Previous explorers in the area have assumed that the granite surrounding deposits/prospects is barren. The discovery of granite-hosted gold at Kat Gap is significant as the same geological setting may be repeated elsewhere throughout Classic's significant >500km2 landholding. Classic will continue to track this unexpected high-grade granite-hosted gold mineralisation in its upcoming drill program at Kat Gap and elsewhere throughout the project area.

Historical RC drilling is currently on 100m - 200m line spacings. There is strong potential for additional mineralisation to be identified up-dip, down-dip and along strike, both outside of and within the existing RC drill coverage. Only about half of the 5 km long >50 ppb Au gold-in-soil anomaly has been tested by RC drilling along the granite/greenstone contact.

There is a further 5 km of strike of prospective granite-greenstone contact along-strike from the Kat Gap zone within E74/467 that has seen little or no exploration.

Classic has already planned follow up drill holes to be commenced in early August.

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

Lady Magdalene hosts high-grade cross-cutting lodes in a similar orientation to Lady Ada (600m to the south). 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. Classic drilled 10 RC holes for 938m on two north-south oriented traverses, as opposed to all historical drilling which is east-west, in an attempt to locate east-west striking Lady Ada style high-grade cross-cutting quartz veins. Of the 10 holes completed, 3 intersected quartz veining in a potential east-west orientation. These holes returned high-grade results including: 1m @ 13.40 g/t Au from 64m in MARC058; 1m @ 9.36 g/t Au from 44m in MARC059 and 4m @ 3.90 g/t Au from 46m in MARC056. The 3 new cross-cutting quartz veins initially appear narrow but have the potential to thicken rapidly over short strike lengths similar to Lady Ada.

RC drilling also intersected thick zones of lower grade gold mineralisation similar to that intersected previously during the recent resource definition drilling. Typically, Lady Magdalene alteration assemblage consists of strong biotite alteration, silicification with fine disseminated sulphides arsenopyrite and pyrite. These lower grade mineralised zones are typified by the absence of quartz veining. Results received from within the Lady Magdalene ore zone include: 11m @ 2.39 g/t Au from 38m in MARC059; 12m @ 2.12 g/t Au from 55m in MARC058; 10m @ 2.10 g/t Au from 43m in MARC056; 15m @ 1.41 g/t Au from 36m in MARC057 and 10m @ 1.51 g/t Au from 65m in MARC061.

The latest drilling confirms the existence of significant gold-bearing quartz veins between existing drill lines. As with Lady Ada's high-grade sapphire shear zone, these veins are low angle reverse thrust faults that dip gently to the south. In upcoming drilling, Classic will track the quartz veins from east to west and will also drill south of the existing lines to determine how many additional lodes are located within the Lady Magdalene resource footprint. This is a very important development for the company as the drilling confirms that the current large, modestly graded Lady Magdalene deposit hosts high grade cross cutting zones of gold mineralisation which are analogous to the high-grade Lady Ada mine.

Follow up drilling will commence in early August.

4. KAT GAP - LITHIUM PROSPECTIVITY

With the Forrestania belt hosting world class LCT-Pegmatites (KDR/SQM's Earl Grey deposit and multiple Li prospects), Classic embarked on a lithium orientation sampling program of previous historical RC holes at Kat Gap. 12 holes were selected based on pegmatites being logged in the hole. No previous assays had been undertaken for lithium.

2 composite RC chip samples were collected from the 12 holes containing pegmatites, 6 holes approximately 300m north and 6 holes approximately 300-500m south of the current gold drilling. The northern composite sample (355150) returned no significant values but the composite sample (355149) collected from the southern 6 RC holes returned anomalous lithium results.

Results of the composite sample 355149 include: 
 
----------------------------------------------------------------
Element                         Assay (ppm)  
----------------------------------------------------------------
Lithium Oxide (Li2O)            2,260 ppm  
Tantalum                        58 ppm 
Titanium                        100 ppm 
Caesium                         123 ppm 
Tin                             20 ppm  
----------------------------------------------------------------
A number of pegmatites were mapped during Dean Goodwin's targeting and mapping project completed in the early 2000's. Classic plans to continue field work to test these pegmatites and identify more potentially li-bearing pegmatites at its 100% owned Kat Gap project. This will involve ongoing field mapping and soil geochemical sampling. The company will keep the market appraised of any meaningful updates but sees exciting potential for Li mineralisation at Kat Gap, particularly as the Li anomaly is along strike from Western Area's (ASX:WSA) recently announced lithium exploration results - 50m @ 0.95% Li2O including 9m @ 2.85% Li2O (SID017) as spodumene.

5. 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. 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.

Additional technical detail on the Mineral Resource estimation is provided, further in the text 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/644XV3VM 

Classic Minerals Ltd
T: +61-8-6305-0221
E: contact@classicminerals.com.au
WWW: www.classicminerals.com.au
↧

Mustang Resources Ltd (ASX:MUS) Caula Project - Graphite Mineral Resource Increases 317%

July 23, 2018, 4:39 pm
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Mustang Resources Ltd (ASX:MUS) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to announce that its Caula Vanadium-Graphite project in Mozambique has taken another key step towards development with the completion of an upgraded JORC-compliant Graphite Mineral Resource estimate.

Key Points

- Total Updated JORC (Measured) Resource of 21.9 Mt @ 13.4% TGC (8% cut-off) at the Caula Vanadium-Graphite Project in Mozambique

- 317% increase in size of Mineral Resource from 702,600 tonnes to 2,933,100 tonnes of contained Graphite

- The entire Graphite Resource now in the Measured Resource category and upgraded from the initial December 2017 Inferred Resource

- Caula Graphite Resource is subdivided into two zones:

o Oxidised Zone - 8.5 Mt @ 13.4% TGC for 1,130,000 tonnes contained Graphite (8% grade cut-off)

o Fresh Zone - 13.4 Mt @ 13.5% TGC for 1,803,100 tonnes of contained Grapite (8% grade cut-off)

- Substantial scope for further growth in the Graphite Resource through exploration

- Metalurgical testwork confirms exceptional quality graphite with more than 63% of cumulative proportion in large to super jumbo flakes sizes (>180Micronsm) and excellent concentrate grades of more than 97% TGC

- Caula's modified and improved flowsheet design allows for integrated vanadium and graphite extraction

- Following the merger of Mustang's ruby project with Fura, Mustang ideally positioned to become a leading vanadium and graphite company

The Mineral Resource, which is all in the Measured category, is 21.9Mt at 13.4% Total Graphitic Carbon ("TGC") (8% cut-off) for a total of 2,933,100 tonnes of contained Graphite. The Mineral Resource is an update from the previous Inferred Graphite Resource of 5Mt at 13% TGC for 702,600 of contained Graphite1 based upon the completion of eleven additional cored boreholes during November and December 2017. The upgraded Mineral Resource represents a 317% increase in the size of the Mineral Resource from 702,600 tonnes of contained graphite to 2,933,100 tonnes of contained graphite.

Mustang Managing Director Dr. Bernard Olivier said: "This is an exceptional result, Caula's Graphite Mineral Resource has not only increased over 300% but the entire resource is now in the Measured Category. The combination of the upgraded Graphite Mineral Resource and our recently announced maiden Vanadium Mineral Resource now paves the way for the fast-tracked development of the Caula project into production."

Geology of the Caula Graphite Deposit

The Caula deposit is located in northern Mozambique in the Cabo Delgado Province. The graphite mineralisation is hosted in quartzitic schists of the Xixano Complex. The most common lithologies include Graphitic Schists, Gneisses and thin Pegmatoidal zones. Sulphides are occasionally logged but are usually absent. The surrounding country rock consists of Quarzitic and Micaceous Schists and Gneisses.

The project area is situated in the Mozambique Belt of the East African Orogen, and contains highly metamorphosed meta-sediments and meta-volcanics. The rocks of the East-African Orogen are dated 850 - 620 Ma in which metamorphic facies vary from amphibolitic to granulitic.

The mineralised zone is contained within a reclined isoclinal fold structure which dips at roughly 60 degrees to the west (Error! Reference source not found.). Due to the region's tectonic history these meta-sediments have been altered to the extent that no sedimentary structure remains.

Drilling, Sampling and Sub-sampling Techniques

The drilling program comprised of one RC (reverse circulation) and 16 DD (Diamond Drilling) boreholes. The initial part of the hole was drilled with PQ (III) until the rock was competent to be drilled with HQ (III). Drill core was orientated wherever possible. The mineralised core was sampled as half (Leco analysis) and quarter (metallurgical test work) core, with the remaining quarter retained in the stratigraphic sequence in the core trays. Appropriate QA/QC samples (standards, blanks, duplicates and umpire samples) are inserted into the sequence as per industry standard.

Sample Analysis

Sample preparation and analysis was completed by SGS in Johannesburg. Sampling procedure which includes drying, crushing, splitting and pulverising ensures that 85% of the sample is 75 micron or less in size. A split of the sample is analysed using a LECO analyser to determine total carbon in graphite (TGC%) content. A second split of the sample is prepared for element analysis by XRF to determine V2O5 content. Rougher and multiple re-grind and cleaner flotation, Final concentrate PSD and fraction assays was also done.

Resource Estimation Methodology

The geological models used for the resource estimation was created in Voxler (Version 4.2.584), a modelling package developed and distributed by Golden Software in Colorado. The deposit was divided into an upper oxidised zone and a lower fresh zone. Once a specific grade volume has been calculated a weighted average density is applied to the volume and a tonnage is determined.

Weighted averaging for sample length was applied. No grade truncations were applied. A cut-off grade of 8% has been applied. Grade-tonnage curves were produced and can be used to determine the effect of cut-off grades on remaining mineralised tonnages, but the drilled resource is calculated as intersected in-situ. The calculated grade is weighted for representative mass, as calculated in Voxler.

Cut-off Parameters

An 8% TGC grade cut-off was applied. The modelling is limited by drilling extent. The drilling has not intersected nor delineated the outer edge of barren host rock. The physical limits of the mineralisation will be established with additional future drilling.

Grade-tonnage curves were produced (see Figures 2 and 3 in link below) and the influence of various cut-off grades can be investigated. The physical deposit boundaries have not been intersected in the drilling work to date and hence the model is suspended within graphite and roscoelite mineralised rock. The western and northern deposit boundary (at shallow depth), is expected to be delineated with the next phase of drilling. The eastern and southern boundaries are open to at least 200m and several kilometres respectively.

Caula Graphite Resource Estimate

The Caula Mineral Resource estimate is based on 16 diamond drillholes totalling 2,233.21 metres (484.72m in 2016 and 1,748.49m in 2017) and one reverse circulation (RC) drillhole totalling 99 metres (see Figure 4 in link below). Drillholes are spaced approximately 85 metres apart along a 540 metre strike length. With the exception of drillhole MORC004 (-77deg), all holes were drilled at inclinations of between 55deg and 60deg from the horizontal.

The drillhole samples were submitted to SGS in Randfontein (South Africa) for analyses as well as to SGS (Malaga), Independent Metallurgical Operations Pty Ltd ("IMO") and Nagrom, Perth for metallurgical testwork. In total, 1,128 assay results were generated and these were used with the drillhole data to complete the updated Graphite Mineral Resource estimate.

Grade estimation was completed using an inverse distance squared method. The deposit was divided into an upper oxidised zone and a lower fresh zone. Points of equal grade within the model boundary are draped with a wireframe shape (of which the anisotropy settings are defined in the gridder module) and the volume for the shape is calculated in Voxler. This is repeated for grades of 0.01% TGC to 24% TGC for the oxidised zone and up to 26% TGC for the fresh zone.

Once a specific grade volume interval had been calculated (by difference) a weighted average density was applied to the volume and a tonnage determined.

The Measured Mineral Resource totals 21.9 million tonnes at an average grade of 13.4% TGC for 2,993,100 tonnes of contained Graphite.

The results of the Mineral Resource estimate are summarised in Tabel 1, below. Drillhole information and reporting in accordance with the JORC Code 2012 Edition are included as Appendices to this announcement.

The grade-tonnage curve for the oxidised zone is shown in Figure 2 below (see link below). The Oxidised Zone displays the following grade-tonnage relationship: at a cut-off grade of 2% TGC the deposit will have as a balance 13.4 Mt of mineralised tonnes at an average grade of 10.4% TGC, for 1,390,900 tonnes of contained graphite. At a cut-off grade of 4% TGC the deposit will have as a balance 12.0 Mt of mineralised tonnes at an average grade of 11.2% TGC, for 1,350,100 tonnes of contained graphite. At a cut-off grade of 8% TGC the deposit will have a balance of 8.5 Mt of mineralised tonnes at an average grade of 13.4%, for 1,130,000 tonnes of contained Graphite in the Oxidised Zone.

The grade-tonnage curve for the Fresh Zone is shown in Figure 3 below (see link below). For the Fresh Zone the following relationship is seen from the grade-tonnage curve; At a cut-off grade of 2% TGC the deposit will have a balance of 20.5 Mt mineralised tonnes at an average grade of 10.6% TGC, for 2,180,600 tonnes of contained TGC. At a cut-off grade of 4% TGC the deposit will have a balance of 18.6 Mt mineralised tonnes at an average grade of 11.4% TGC, for 2,121,400 tonnes of contained Graphite. At a cut-off grade of 8% TGC the deposit will have a balance of 13.4 Mt mineralised tonnes at an average grade of 13.5%, for 1,803,100 tonnes of contained TGC in the Fresh Zone.

Mineral Resource Classification Criteria

The resource is classified as Measured. The core losses in the DD boreholes were assigned 0% TGC values as a conservative measure. With additional drilling in the future, the confidence in the estimate may very well improve. The Competent Person has no reason to doubt the input data from the core logging to the laboratory results. The estimate is conservative and probably understated in both tonnage and grade.

The surface area of 12.2 Ha is covered by 17 regularly spaced boreholes for an average grid of just less than 85m squared.

In addition, the geovariance which was calculated over 14 ranges with 27 data-pairs shows a sill distance of 170m. This calculation is based on information from 17 boreholes, and may well change as it gets updated with new drilling information. Based on this geovariance, the drill spacing at an average of 85m is considered to be sufficient to determine a measured resource.

Mining and Metallurgical Methods and Parameters

The resource estimation has assumed that the deposit could potentially be mined using open cut mining techniques. No assumptions have been made for mining dilution or mining widths, however mineralisation is generally broad.

On 25 June 2018 Mustang announced the results of additional metalurigcal testwork on the Caula Graphite - Vanadium project. The testwork was conducted on composites from borehole 15 which is centrally located in the measured resource area. The testwork flowsheet was a modification of a similar flowsheet used for the earlier work. The graphite concentrate recovery procedure comprised an initial coarse grind, a de-slime stage (by-passed on Fresh), then rougher flotation followed by three re-grind & cleaner flotation stages and two final cleaner flotation stages. By graphite industry standards, this is a remarkably simple flowsheet.

The cumulative proportion of large to super jumbo flakes (>180?m) comprises 60% of the Oxide Zone while the cumulative proportion of large to super jumbo flakes (>180?m) comprises 68% of the Fresh Zone. The high concentrate grades of more than 97% Total Graphitic Carbon have been maintained in the modified flowsheet.

The flowsheet has been extended to allow integrated extraction of both graphite and vanadium. The first vanadium concentration work is currently in progress and results are expected in due course.

Project Area Potential

The Caula Project is located within a world-class graphite province and there is significant potential to expand this Graphite Resource estimate through ongoing exploration and drilling.

In the immediate vicinity of the Caula discovery, graphite mineralisation has now been defined over a 540m strike length. This mineralisation is up to 230m wide (estimated true thickness) and the depth is completely open-ended at the limit of the current drilling.

A new program of diamond and reverse circulation drilling has been planned to test for both up-dip and down-dip extensions to the Caula deposit in this area.

In addition to the potential to define additional graphite and vanadium mineralisation immediately adjacent to the Caula discovery, there is also very strong potential to define high grade graphite mineralisation over the much larger project area.

The Caula discovery is located at the northern end of a suite of large-scale geophysical (TEM) anomalies that extend over an 18km strike length within Mustang's tenements (see Figure 5 in link below). Drilling at the Caula site confirms a strong spatial correlation between the TEM anomaly and high grade graphite drill hole intersections. The larger-scale TEM anomaly has received minimal drilling to date and therefore remains largely untested.

Mustang proposes systematically to drill test the large-scale TEM target through progressive step out drilling from the Caula discovery. This drilling has commenced.

The Company is highly encouraged by the results received to date from its updated Graphite Resource Estimate and the Caula deposit as a whole. The combination of high grade drilling results, positive metallurgical testwork, a large Graphite Measured Resource estimate, large-scale untested exploration targets and the project's location within a demonstrated world-class vanadium-graphite province confirm the project's potential to create significant future value for the Company.

As previously reported, due to unexpected delays in receiving the final vanadium and graphite assay results from the independent laboratory, the completion of the maiden vanadium resource estimate as well as this graphite resource update was delayed. This delay means that the estimated completion of the Scoping Study has been updated to Q3 2018.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/6568NELQ 

Dr. Bernard Olivier
Managing Director
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
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Carnarvon Petroleum Limited (ASX:CVN) Dorado-1 Uncovers More Oil & Gas

July 23, 2018, 4:46 pm
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Carnarvon Petroleum Limited ("Carnarvon" or "the Company") (ASX:CVN) (OTCMKTS:CVONF) confirms that the Quadrant-Carnarvon Joint Venture have completed additional wireline evaluation since the last update. The results have confirmed the oil discovery in the Caley Member and have confirmed the presence of gas and condensate in the top of the Baxter Member that was drilled into to enable the evaluation of the Caley Member.

Highlights

- Additional confirmatory information acquired over the 80-metre net oil column in the Caley

- Wireline confirms 10.5 metres of net pay in top of the Baxter sand containing gas & condensate

- The well is still in the hydrocarbon bearing zone with drilling to recommence once the liner is set

Light oil has been recovered from a sand in the upper most section of Caley that is in addition to previous samples recovered. This work was undertaken to provide additional information across a broader area of the Caley and further enhances the joint ventures' confidence in the results to date.

Gas and condensate samples were also recovered from a good quality reservoir in the top of the Baxter containing an estimated gross hydrocarbon package of 21 metres and a net pay thickness of 10.5 metres.

Pressure data confirms that the Caley oil and the Baxter gas-condensate discoveries are separately stacked hydrocarbon columns. However, the well has not completed drilling through the Baxter Member and this is therefore an interim net pay result and may or may not represent a gas cap to further oil resources.

A 7" liner will now be set prior to drilling into the Crespin and Milne Members. The plan is to deepen the well to approximately 4,550 metres measured depth to evaluate the newly discovered Baxter sand and the secondary targets in the Crespin and Milne. 
 
Carnarvon Petroleum             20% 

Quadrant Energy (Operator)      80%

To view figures, please visit:
http://abnnewswire.net/lnk/W8WM4P1M 

Investor inquiries:
Thomson Naude
Company Secretary
Phone: +61-8-9321-2665
Email: investor.relations@cvn.com.au

Media inquiries:
Luke Derbyshire
Managing Director, Spoke Corporate
Phone: +61-488-664-246
Email: luke@spokecorporate.com
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The Hydroponics Company Ltd (ASX:THC) Secures Northern NSW Site and Off-Take Agreements

July 23, 2018, 4:46 pm
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The Hydroponics Company Limited (ASX:THC) (OTCMKTS:HDRPF) (THC or the Company), Australia's leading Medicinal Cannabis company(see Note below) advises that the conditions precedent have been met for the lease of a Northern NSW property to be used for the growing of medicinal cannabis strains as a primary source for its own manufacture within its Southport manufacturing facility.

Key Points

- Lease for Northern NSW cannabis growing site secured

- THC expediting regulatory approval lodging and site development for growth of THCowned strains as well as imported strains from international commercial partners

- Northern NSW site to be established as primary cannabis source for THC's large-scale manufacturing operation in Queensland

- Completed off-take agreement for THC's medicinal cannabis for use by Meluka Health

- Completed supply agreement for Meluka's tea-tree extract for use in THC medicinal cannabis products

The meeting of the conditions precedent and agreement to terms of the final agreements follow the Company entering into a Binding Term Sheet in May 2018 between THC, Jenbrook Pty Ltd (Jenbrook) and Meluka Health Pty Ltd (Meluka Health).

The terms agreed relate to the following:

- Medicinal cannabis supply agreement where THC will provide exclusive access to THC's medicinal cannabis for use in honey products by Meluka Health in its Meluka Honey products (the Cannabis Off-Take Agreement)

- Lease agreements to secure part of Jenbrook's Northern NSW property for the growing of medicinal cannabis (the Lease Agreement); and

- Tea tree supply agreement where THC will have access to Meluka's extract products for use in development of new medicinal cannabis products (the Tea Tree Extract Agreement).

Relevant licence applications have been agreed by THC and are being lodged on an expedited basis.

THC Chief Executive Officer, Ken Charteris commented:

"Securing both an additional medicinal cannabis growing site and an off-take agreement further advances THC's path to near term revenue generation from its medicinal cannabis business and complements our acquisition of an industry leading pharmaceuticals manufacturing facility.

"With both a significant growing and manufacturing capability in place, THC is even more attractive to global commercial partners who see THC as being one of the most advanced in the industry".

Note: Assessment based on key peers (CAN, AC8) comparison matrix 

Henry Kinstlinger
Joint Company Secretary
The Hydroponics Company Limited
P: +61-2-9251-7177
E: henry.kinstlinger@thcl.com.au

Michael Lovesey
Director Corporate Media Relations
MMR Corporate Services Pty Ltd
P: +61-2-9251-7177
M: +61-449-607-636
E: michaell@mmrcorporate.com
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The Betmakers Holdings Limited (ASX:TBH) Completion of Institutional Entitlement Offer

July 23, 2018, 4:51 pm
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On Friday, 20 July 2018, The Betmakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("TBH") announced an accelerated non-renounceable entitlement offer of fully paid ordinary shares in TBH ("New Shares") to raise approximately $6.7 million (before costs of the offer) ("Offer"). The Offer includes an institutional component ("Institutional Offer") and a retail component ("Retail Offer").

TBH is pleased to confirm the successful completion of the Institutional Offer.

Under the Institutional Offer, TBH successfully raised approximately $1.04 million from the issue of 12,961,897 New Shares at an issue price of 8 cents ($0.08) per New Share ("Offer Price").

TBH will recommence normal trading on an ex-entitlement basis from the opening of the market on 24 July 2018.

The Retail Offer to existing retail shareholders opens on Friday, 27 July 2018. Eligible retail shareholders will be sent an offer document relating to the Retail Offer ("Retail Offer Booklet") together with a personalised entitlement and Acceptance Form on Friday, 27 July 2018. A copy of the Retail Offer Booklet has also been released to the ASX today. Under the Retail Offer, eligible retail shareholders will be able to subscribe for one (1) New Share for every two (2) existing shares held in TBH at 7:00 pm AEST on Tuesday, 24 July 2017 at the Offer Price. The Retail Offer closes at 5.00pm on 7 August 2018.

To view Retail Entitlement Offer Booklet, please visit:
http://abnnewswire.net/lnk/N91P08D7 

Charly Duffy
Company Secretary
E: companysecretary@topbetta.com
M: + 61-409-083-780

Jane Morgan
Investor & Media Relations
E: investors@topbetta.com
M: +61-405-555-618
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Search

Otherlevels Holdings Ltd (ASX:OLV) Quarterly Report - June 2018

July 23, 2018, 5:03 pm
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OtherLevels Holdings Limited (ASX:OLV) (OtherLevels) has today released its Appendix 4C for the quarter ended June 2018.

Please also see the OtherLevels Operational Update released concurrently (see link below).

FY18 was a year of continued growth and progress for OtherLevels. Highlights included (all FY18 figures are unaudited):

- 56% revenue growth to $5.24m

- $4.4m annual recurring revenue as at June 2018

- 73% improvement for FY18 EBITDA of ($1.1m), compared with FY17

- 9% cash expense reduction to $8.1m in FY18 compared to $8.9m FY17

- 57% improvement in FY18 in net operating cashflow, a positive change of $2.2m from FY17 to FY18.

- 2 positive operating cash flow quarters in FY18

Additionally, OtherLevels continued to make progress towards sustained positive operational cash flow with the goal of achieving full year positive operational cash flow in FY19.

As indicated in our Operational Update, cash receipts for FY18 Q4 were lower than the prior corresponding period. This was due to a number of factors, including the renewal or extension of existing contracts later in the quarter than planned, and the delay in sales activity in our key iGaming market due to our clients' operational focus on the Football World Cup.

However, due to the timing impact indicated above, cash receipts in Q1 FY19 will now be higher than the prior corresponding period subject to the receipt of the company's R&D rebate for FY18.

During FY18 Q4 the Chairman, Managing Director and Primary Lender advanced a total of $500,000 under a previously announced funding facility.

In order to provide additional funding, if required, and reflecting continued increasing confidence in the progress of OtherLevels, the Chairman and Managing Director have agreed to extend their funding facility limit by an additional $400,000.

To view figures, please visit:
http://abnnewswire.net/lnk/0R99N2J2

To view Operational Update presentation, please visit:
http://abnnewswire.net/lnk/T37U73U6 

Brendan O Kane
CEO & Managing Director
E: brendan.okane@otherlevels.com
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RPX Coin Review: What Is Red Pulse Coin?

July 23, 2018, 6:07 pm
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RPX coin (CRYPTO:RPX) is a platform designed to share and reward information about the Chinese market.

Specifically, businesses and investors will be using RBX coin to crowdfund new research:

Encouraging vetted content producers to create research reports they're interested in.

But what's predicted for the RPX coin price?

And was the Red Pulse ICO one worth investing in?

In this coin review, you'll discover everything you need to know about RPX coin.

View the review of Red Pulse here:
http://kingpassive.com/rpx-coin-what-is-red-pulse/ 

Julian Goldie
E: julian@kingpassive.com
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Blackham Resources Ltd (ASX:BLK) Wiluna Tailings (Wiltails) - Maiden Resource

July 23, 2018, 6:31 pm
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Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) (Blackham or the Company) is pleased to provide an initial Mineral Resource estimate for the historical tailings at the Company's Wiluna Gold Operations all within 2km of the Wiluna processing plant. The historical tailings have accumulated at the site since the 1930's and recent independent metallurgical test work has shown that potential gold recoveries of between 42-50% can be achieved through standard mining and gold leaching processes. Additional metallurgical test work will potentially enhance the gold recovery and validate how this material may supplement the Company's operating plans.

Highlights

- 620,000oz added to Wiluna free milling gold Mineral Resource base

- The maiden Mineral Resource for the Wiluna Tailings is 33.6Mt at 0.57 g/t Au. 77% of the Mineral Resource is classified under JORC 2012 as Indicated Resources (see Table 1 in link below)

- Metallurgical test work completed to date indicates a recovery of between 42-50% for the historical tailings in a standard gold leaching process similar to the existing Wiluna CIL circuit.

- Ongoing technical work will be completed on the tailings to confirm potential mining and processing options for possible integration into the Company's future operations.

Blackham has successfully identified additional free milling ore associated with the Golden Age mineralisation and the Wiluna oxidised zones (see announcements "Wiluna High Grade Free Milling Mineralisation Extended" dated 21 June 2018 and "Multiple High-Grade Extensions Identified at Golden Age" dated 12 June 2018).

The Company also continues its exploration programs into its priority Lake Way targets and has now completed the first phase of drilling. This drilling is the first new drilling in that area for 12 years and the Company is awaiting final results.

Blackham will continue to add to its free-milling resource inventory at its Wiluna operations with a view to fully utilising its available assets and increasing shareholder value. Annual updated Mineral Resource estimates are currently underway for all areas at Wiluna and will be reported in the current quarter.

Mineral Resource Estimate

Tailings material has been deposited since the 1930's around the Wiluna processing plant from over 4.4Moz of gold production. Since the mid 1990's both purpose built tailings storage facilities (TSF) and open pit voids have been utilised. The tailings being deposited from current operations into Storage Dam J is not included in this resource.

Resources were estimated by Blackham personnel for the various tailings impoundments using historical data and the data from two recent drill campaigns.

A significant proportion of the tailings resulted from processing of the Wiluna UG sulphide ores through the Biox(R) plant with historic processing records indicating an average tailings grade of 0.72g/t over the last 13 years. This was deposited into all of the above locations except Dam C which was the first storage location. Recent metallurgical testing has indicated that further recovery of the residual gold is possible through the oxide milling circuit. Two recent drill programmes have enabled sufficient data to estimate the grade for the separate repositories.

The separate tailings storage areas are:

- Dam C - largest single resource. The material is layered with the upper part resulting from processing of sulphide ore (~40%) and the lower part from oxide ore treatment.

- Dam H and the Western Extension of Dam C. Both containing residue from sulphide ore treatments.

- Pits - Adelaide, Golden Age, Moonlight and Squib. All containing residues from largely sulphide ore treatment. (Tailings have also been placed in the Gun Barrell Pits, North and South, - these potential resources have not yet been tested.)

The Mineral Resource has been classified as Indicated (77%) and Inferred in accordance with the JORC Code, 2012 Edition on a qualitative basis taking into consideration numerous factors including drill hole spacing, estimation statistics and sample data. All factors that have been considered are detailed below or included in the Appendices. There have been no prior estimates for this material.

Project Location

The Wiltails resource base is located on the Wiluna mine site within approximately 2km of the operating CIL processing plant at the northern end of the Norseman-Kalgoorlie-Wiluna gold belt 600km north of Kalgoorlie.

Geology and Geological Interpretation

The tailings material has been derived from the treatment of the ores around the Wiluna mine area. The mineralisation is shear hosted typical of Archean gold deposits. Rock types range from sedimentary rocks and Felsic to Mafic volcanics. Gold is contained in quartz vein and in alteration zones. In un-weathered rock the mineralisation is commonly associated with sulphides such as pyrite and arsenopyrite.

Processing records indicate that the majority of the tailings were emplaced during the treatment of fresh sulphide rich ores. The notable exception is the material in the bottom part of Dam C that contains primarily oxide and transitional ore residues from the mining of the Wiluna open pits between 1985 and 1997.

Drilling and Sampling Techniques

Two recent drill campaigns were completed over the Wiluna tailings. An initial programme of rotary auger drilling in 2017 tested: 
 
----------------------------------------------------------------
Prospect     Total Number of Holes      Total Metres Drilled 
----------------------------------------------------------------
Squib                 2                          40 
Adelaide              2                          40 
Moonlight             1                          20 
Golden Age            2                          40 
Western Cell          3                          49 
Dam H                16                         286.5  
---------------------------------------------------------------- 
Totals               26                         475.5  
----------------------------------------------------------------

The holes were drilled vertically with most holes 20m long to the base of the TSF. Holes were sampled by removing material from the auger at 5m intervals. Only the 16 holes drilled in Dam H were used in the resource estimation.

A second programme of AC drilling was drilled on a nominal 100mx100m grid with a total of 63 holes for 1,576m completed in June 2018. The holes were drilled vertically and varied in length to reach the base of the TSF or pit being assessed. Holes were sampled in 2m intervals. 
 
---------------------------------------------------------------- 
Prospect     Total Number of Holes      Total Metres Drilled 
---------------------------------------------------------------- 
Squib                 8                          218 
Adelaide              4                          78 
Moonlight             6                          165 
Golden Age            6                          146 
Dam H                 8                          120 
Western Extension     6                          105 
Dam C                 25                         744 
---------------------------------------------------------------- 
Totals                63                         1,576 
----------------------------------------------------------------

The six holes drilled in Dam H were not used in the resource estimation owing to sample contamination caused by overlying calcined tailings stockpiles.

Sample Analysis Method

Samples from both programmes were assayed for gold using a 50g charge fire assay by independent certified laboratories following standard sub-sampling procedures. Samples from the initial auger drilling programme were further analysed for their metallurgical properties by an independent consultant.

Bulk Density

A further phase of drilling was completed in July 2018 using sonic core drilling aimed primarily at providing bulk density data for use in the resource estimation. Standard Penetration Tests were taken periodically during drilling to obtain density, strength and consolidation characteristics for the tailings. For the current Mineral Resource Estimate a figure of 1.6 t/m3 was assigned as the global dry bulk density.

Estimation Methodology

The volume of the tailings was estimated either within an existing open pit or a tailings storage facility (TSF). Digital terrain models based on final pit surveys conducted prior to the tails deposition were constructed for the open pits with current topographic models being used for the TSF discounting the material being used for building bunds and/or walls of the TSF.

Gold grades were estimated into the model by inverse distance squared using the block model field coding to constrain the estimate. Only samples contained within each individual domain were used for the estimate of that domain. Top cuts were used to cap anomalously high grade data. The stage 2 drill holes (aircore) for Dam H were not used owing to contamination of samples. Any assays that appeared as outliers from the median grade were cut.

The search ellipse was based on considerations of the drill hole spacing and domain geometry. In addition, visual inspection, using tools available in Surpac, were undertaken to assess the pattern of informing sample selection. The search ellipsoid radii ratios were then chosen to provide an optimal sample neighbour selection for estimation. The search neighbourhood radii were chosen to be as small as possible while still fulfilling the requirement of filling all blocks in the estimation domains with estimates. Search ellipse orientations were flat. Some stratification of the tails sediments was observed in the drilling and the grade interpolation attempted to honour this stratification.

One search pass was used to populate blocks allowing for a maximum of 2 samples per drill hole with a maximum of 8 samples per block estimate. The estimate was validated using a number of techniques including but not limited to:

- A visual comparison of block grade estimates and the drill hole data;

- A comparison of the composite and estimated block grades;

- SWATH Plots

Cut-off Grades

No cut-off grade was applied to the resource estimate and it is quoted as a total in-situ resource.

Mineral Resource Classification

The Mineral Resource is classified as Measured, Indicated and Inferred, in accordance with the JORC Code (2012 Edition). A range of criteria were considered when addressing the suitability of the classification boundaries to the resource estimate including:

- Drill hole spacing;

- Quality of dill hole information accounting for type, and sampling technique; and

- Available mining information.

The classification for this model has predominantly being based on the drill hole type and spacing. In resources drilled by Air Core with 4.5" diameter holes with the specialised 'vacuum bit' with at least 100m x 100m on the TSF and 50m by 50m in the open pits an indicated classification was given. Where rotary auger drill sampling was completed an inferred resource was given due to the lower quality of the sampling.

Economic Extraction

A scoping study was competed for the Wiluna tailings retreatment in 2016 by Independent Metallurgical Operations Pty Ltd. The study comprised preliminary metallurgical test work using Dam H tailings data and a review of potential recovery and treatment options for all storage facilities and pits. The options considered produced acceptable financial returns and indicated a potential metallurgical recovery of 42-50% for gold via a whole of ore leach.

Initial test works have confirmed the tailings material is sized between 38-75micron removing the need for further grinding - significantly reducing re-processing costs. The tailings can be treated through the current operating CIL circuit without the need for further milling or concentration, making reprocessing a simple, low cost option.

This resource and scoping study justifies the assumption for eventual economic extraction and treatment of the Wiluna Tailings.

Further feasibility studies are ongoing aimed at:

- Confirming the metallurgical properties and optimal flowsheet;

- Assessing best method of materials handling (mining, dredging or re-pulping); and

- Integration with the existing free milling and planned sulphide operations.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/E5HX0C86 

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
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Hastings Technology Metals Ltd (ASX:HAS) Quarterly Activities Report

July 23, 2018, 7:32 pm
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Hastings Technology Metals Ltd (ASX:HAS) provides the Company's June 2018 Quarterly Report.

- Environmental Review Document (ERD) for Yangibana Project submitted to Environmental Protection Agency (EPA) of Western Australia

- Infill drilling programme at Bald Hill and Fraser's nearing completion providing samples for additional pilot plant tests

- Geotechnical drilling programme commences at Yangibana, Yangibana West, Auer and Auer North to establish additional reserves

- Infill and extension drilling commences at Auer and Auer North seeking additional resources and reserves

- Commencement of preliminary and early works on site

- Project financing discussions continue to progress

To view the full report, please visit:
http://abnnewswire.net/lnk/7PVI0I05 

Charles Lew
Chairman
T: +61-2-9078-7674

Stefan Wolmarans
Chief Operating Officer
T: +61-488-070-534
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Australian Bauxite Ltd (ASX:ABX) Seed Capital Secured & Site Works Commenced

July 23, 2018, 7:40 pm
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Australian Bauxite Limited (ASX:ABX) (ABx) is pleased to announce that its wholly-owned subsidiary, ALCORE Limited has secured the minimum funding needed to commence Stage 1 of the ALCORE Project. Site construction works commenced on 1 July as planned at ALCORE's pre-approved Pilot Plant site in Berkeley Vale, Central Coast NSW for the production of AlF3 test samples.

Summary:

- The Research Site for Stage 1 was occupied 1 July 2018 on schedule - see Appendix. Factory spaces were cleared of components not needed for ALCORE's Stage 1 Pilot Plant, walls panelled & painted. Floors are now levelled and patched for application of reagentsafe sealants to allow engineering measurements for final plant sizing so that fabricated components and modules fit safely.

- ALCORE technology is designed to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products from ABx bauxite - see Figure 1 in link below.

- The Board of ALCORE Limited is shown in Figure 2(see link below). Site employees have been recruited and more will be recruited over coming weeks and months as the project develops

- Stage 1 site operation budget is $2.5 million at the approved research site (see Appendix)

- Stage 1 commences with the production of AlF3 test samples and then production of Corethane, which is pure hydrocarbon powder refined from low-value coals

- Corethane has been used to provide thermal and electrical power and also been used several times as a gas-substitute in gas turbine electrical generators, and used as a diesel substitute for fuel security purposes. Corethane also has industrial applications and several potential customers have already requested test samples for their industrial plants.

- Discussions continue with governments, agencies and major companies in the aluminium industry

ABx CEO, Ian Levy Comments:

"This is the beginning of a powerful new bauxite refining technology which will commence as an important supplier of key AlF3 products for the Australasian aluminium smelters and producing silica fume for the cement industry, then develop Corethane pure hydrocarbons for energy and fuel security.

"Upside potential includes expanding the product range to AlF3 for Lithium-ion batteries, iron and titanium-based pigments and then developing ultra-pure products such as high purity alumina ("HPA") for the manufacture of scratch-resistant sapphire glass for phones and computer screens."

"ABx continues the development of its three core bauxite projects, namely the Tasmanian mine and the large Binjour Project in central QLD and the Penrose refractory bauxite project 90km inland of Port Kembla NSW. Creating ALCORE Limited as a project-specific subsidiary is expected to unlock considerable value for shareholders in both the short and medium terms."

Listing Rules Consideration

ABx notes that in the event the Company opts at any time to spin-out ALCORE through an IPO then Listing Rule 1.19 provides that: "Admission to the official list, and the category of an entity's admission, is in ASX's absolute discretion. ASX may admit an entity on any conditions it thinks appropriate. ASX may grant or refuse admission without giving any reasons."

Further, in the event that Listing Rule 11.4 applies, ABx shareholders must approve the spin-out of the securities, except those to be retained by ABx, are offered pro rata to holders of ordinary the securities in the listed entity, or in another way that, in ASX's opinion, is fair in all the circumstances.

To view figures, please visit:
http://abnnewswire.net/lnk/XK350654 

Ian Levy
CEO and MD
Australian Bauxite Limited
Telephone: +61-2-9251-7177
Mobile: +61-407-189-122
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MMJ PhytoTech Ltd (ASX:MMJ) PTL Completes Phase 2 Clinical Trial

July 23, 2018, 8:57 pm
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MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to announce results of the Phase 2 clinical trial ("the trial") undertaken by its wholly-owned subsidiary PhytoTech Therapeutics Ltd ("PTL"). As previously announced, PTL is to be sold by MMJ to Harvest One Cannabis Inc. (CVE:HVT), subject to MMJ shareholder approval.

Key elements of the trial

- An open-label, single-centre clinical study to evaluate the safety, tolerability and efficacy of oral administration of the Satipharm CBD capsules as an adjunctive treatment to children suffering from refractory, or treatment-resistant epilepsy

- Comprised of 3 periods: observation (4 weeks), dose-titration and treatment (12 weeks) and follow-up (2 weeks)

- Patients were eligible to participate if they were between 2 and 15 years old, had tried at least four prior anti-epileptic drugs (AEDs), including one trial of a combination of two AEDs, without successful seizure control

- 16 patients were screened and started the CBD treatment. 11 patients completed the study. The mean age of the children participated in the study was 9.1 years (SD: 3.40 years). The mean dose in maintenance was 13.6 mg/kg (SD: 4.24 mg/kg). Patient adherence to treatment was very high (mean of 96%)

Key findings of the trial

- Promising evidences of efficacy were demonstrated

- Satipharm's CBD capsules significantly reduced monthly seizure frequency in the treatment-resistant children when added to current medications. The median reduction was -82% in the 12-week treatment period compared to the 4-week observation period

- 9/16 patients (56%) who started the treatment had a reduction of at least 50% in total number of seizures during the entire treatment period, compared to observation

- Following 12 weeks of treatment, 8/11 patients (73%) were rated as "very much improved/improved" in overall condition on the Caregiver Global Impression of Improvement scale and 9/11 patients (82%) were rated as "very much reduced/reduced" on that scale

- Prof. Uri Kramer, Director of Pediatric Epilepsy Service, Tel Aviv Sourasky Medical Center and Principal Investigator of the trial commented that "Notwithstanding the small number of patients treated, the efficacy of Satipharm's CBD capsules as add-on therapy in the treatment of pediatric, intractable epilepsy has been shown. Moreover, these results compare favourably to other similar studies of cannabidiol, including those published by GW Pharmaceuticals. Importantly, the significant reductions in seizure frequency while demonstrating satisfactory safety and tolerability profile, in these very difficult to treat patients, have the potential to be a life-altering event for these patients and their families. I would be greatly interested in prescribing such standardized and clinically tested product as Satipharm's CBD" 

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: jconroy@mmjphytotech.com.au
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White Cliff Minerals Ltd (ASX:WCN) Cobalt Nickel Discovery at Coronation Dam

July 24, 2018, 3:18 pm
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White Cliff Minerals Limited (ASX:WCN) ("White Cliff" or the "Company") is pleased to report initial assays from a 5,000 metre RC drilling campaign completed at its 100% owned Coronation Dam cobalt project 90km Southeast of Glencore's Murrin Murrin Nickel refinery in Western Australia's north-eastern goldfields.

Highlights

- Initial assays received from Coronation Dam, results include:

o 40 metres at 0.11% cobalt and 1.04% nickel from 16 metres

-- 15 metres at 0.20% cobalt and 1.1% nickel from 29 metres

o 20 metres at 0.27% cobalt and 0.66% nickel from 28 metres including:

-- 1 metre at 0.95% cobalt and 0.97% nickel from 31 metres and:

-- 1 metre at 0.63% cobalt and 0.70% nickel from 35 metres

o 12 metres at 0.06% cobalt at 0.93% nickel from 8 metres

o 12 metres at 0.05% cobalt and 0.85% nickel from 36 metres

- Mineralisation up to 550 metres wide and 40 metres thick

- Further assays expected within two weeks

Initial drilling results are from one of the first cross sections drilled in the central part of the deposit to confirm the historical drilling results. Extensive cobalt mineralisation was identified from surface, extends up to a depth of 65 metres and is approximately 550 metres wide. The orebody dips at a shallow angle to the west. Better results include:

- 40 metres at 0.11% cobalt and 1.04% nickel from 16 metres including;

o 15 metres at 0.20% cobalt and 1.1% nickel from 29 metres

- 8 metres at 0.06% cobalt and 0.84% nickel from 8 metres and;

- 9 metres at 0.05% cobalt and 0.70% nickel from 24 metres

- 20 metres at 0.27% cobalt and 0.66% nickel from 20 metres including;

o 1 metre at 0.95% cobalt and 0.97% nickel from 31 metres and;

o 1 metre at 0.63% cobalt and 0.70% nickel from 35 metres

- 12 metres at 0.07% cobalt and 0.85% nickel from 36 metres

The mineralisation has developed in the regolith profile above an intensely weathered ultramafic unit which was originally a peridotite. The peridotite is approximately 1 kilometre wide and 5.7 kilometres long within the mining tenement which covers 16km2. Drilling was conducted on a 100 metre by 100 metre grid with extensions on a 200 by 100 metre grid. Once all assay results have been received the Company will undertake metallurgical testing to further advance the development of this project

White Cliff Managing Director Todd Hibberd said: "Initial assays at Coronation Dam validate the historical drilling and demonstrate the high grade nature of the mineralisation. We were surprised at the 550 metres wide zone of cobalt mineralisation and at the thickness of some of the intervals which are better than anticipated. Further assay results should be available shortly and on receipt of the final drilling results the Company will be in a position to select samples for metallurgical testing".

Cobalt and nickel assays are summarised below rather than annotating the cross section due to number a results.

CDRC0054: No significant assay

CDRC0055: 9 metres at 0.04% cobalt and 0.71% nickel from 7 metres

CDRC0056: 12 metres at 0.05% cobalt and 0.93% nickel from 8 metres

CDRC0057: 12 metres at 0.03% cobalt and 0.76% nickel from surface

CDRC0058: 40 metres at 0.11% cobalt and 1.04% nickel from 16 metres including;

15 metres at 0.20% cobalt and 1.1% nickel from 29 metres

CDRC0059: 6 metres at 0.04% cobalt and 0.41% nickel from 19 metres

CDRC0060: 24 metres at 0.04% cobalt and 0.76% nickel from 20 metres

CDRC0061: 8 metres at 0.06% cobalt and 0.84% nickel from 8 metres and;

9 metres at 0.05% cobalt and 0.70% nickel from 24 metres

CDRC0062: 27 metres at 0.04% cobalt and 0.0% nickel from 13 metres

CDRC0063: 20 metres at 0.27% cobalt and 0.66% nickel from 20 metres including;

1 metre at 0.95% cobalt and 0.97% nickel from 31 metres and;

1 metre at 0.63% cobalt and 0.70% nickel from 35 metres

CDRC0064: 12 metres at 0.07% cobalt and 0.85% nickel from 36 metres

CDRC0065: 3 metres at 0.03% cobalt and 0.63% nickel from 66 metres

Geologically the mineralisation is occurring in extremely weathered clays which are derived from the underlying ultramafic rocks. The host rocks are rich in nickel with a background concentration of around 0.2% nickel. The deposit occurs on the side of a low hill and dips shallowly to the West.

The current interpretation is that additional ultramafic rock has weathered and shed from the hill and been incorporated in the deposit increasing the thickness of the mineralisation. Cobalt and nickel mineralisation are variable for hole to hole which reflects the variable composition and layering of the underlying ultramafic unit. It is thought that the ultramafic unit is sub vertical and tightly folded. Weathering of the unit and mobilisation of the soluble minerals has resulted in mass concentration of immobile elements such and nickel, cobalt and chrome.

The Coronation Dam Cobalt Project

The Coronation Dam Cobalt Project is located 90km south of Glencore's Murrin Murrin mining operation and 45km south of GME Resources' proposed Mt Kilkenny nickel-cobalt processing facility in WA's north-eastern goldfields (see Figure 2 in link below). The project is surrounded by world class mining infrastructure and multiple operating mines. Glencore is currently mining cobalt and nickel from the Murrin East open pit which contained an initial resource of 66 million tonnes at 1.1% nickel and 0.09% Cobalt.

The Coronation Dam project area covers 16km2 and contains an outcropping ultramafic unit that is approximately 1 kilometre wide and 5.7 kilometres long within the tenement.

Cobalt-nickel mineralisation occurs as a shallow layer of cobalt-enriched manganiferous oxides that form between the smectite clays and the overlying ferruginous clays. High grade cobalt mineralisation typically occurs between the surface and 50 metres depth and is associated with nickel mineralisation.

Existing drilling has only partly tested the mapped ultramafic unit, indicating there is potential to identify significant additional mineralisation.

The proximity of Coronation Dam to the Murrin Murrin nickel refinery is likely to have a strong, positive impact on the possibility of economic development of both the cobalt and nickel mineralisation. While the Company has not yet calculated a mineral resource, it is clear that the potential exists for the project to host one of substantial size.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Q255DKI0 

Todd Hibberd
Managing Director
T: +61-8-9321-2233
E: info@wcminerals.com.au
W: www.wcminerals.com.au
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Search

NOVONIX Ltd (ASX:NVX) Forges Strategic Relationship with Dalhousie University

July 24, 2018, 3:52 pm
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ASX-listed NOVONIX Limited (ASX:NVX) ("NOVONIX" or the "Company") is pleased to announce that it has agreed to sponsor the Professor Mark Obrovac Battery Research Group at Dalhousie University.

HIGHLIGHTS

- NOVONIX to sponsor the Professor Mark Obrovac Research Group at Dalhousie University via a two-year agreement with an option to extend for five years

- NOVONIX will have first rights to IP developed from this arrangement

- Professor Obrovac is a leading battery materials innovator having authored fifteen issued patents

- Dalhousie University is a world leader in battery innovation and has researchers working with such groups as TESLA and 3M Corporation

Dalhousie University is an international leader in battery materials research, and NOVONIX itself was spun out of Professor Jeff Dahn's lab at Dalhousie in 2013. At that time, Professor Dahn and his team, including NOVONIX COO Dr Chris Burns and CTO Dr David Stevens, worked together to develop HPC technology to accelerate battery research cycle time to weeks from years. This HPC technology is now NOVONIX's flagship product being embraced worldwide by most major battery makers, auto-makers, electronics companies and cordless equipment manufactures.

NOVONIX Limited Chief Operating Officer, Dr Chris Burns said that the new research agreement with Professor Obrovac was an excellent investment opportunity NOVONIX aimed at staying in the forefront of next generation battery technology.

He said that the agreement deepened the long-term relationship and synergies between Dalhousie University and NOVONIX.

"This new arrangement with Professor Obrovac and his team at Dalhousie will help NOVONIX stay at the forefront of battery technology and has the potential to generate significant commercially valuable IP in next generation battery materials," Dr Burns said.

The research will be focused on developing advanced next-generation battery materials and will leverage Professor Obrovac's significant experience in silicon materials, anode and cathode materials, liquid and solid electrolytes and binder materials.

The Professor Obrovac Research Group comprises approximately 12 postdocs, PhD and MSc graduate students at any one time.

Professor Obrovac said that he was looking forward to working closely with NOVONIX.

"As a commercial partner, having NOVONIX based locally in Halifax creates a great environment for capitalising on our knowledge centre, developing commercially-relevant IP, and for creating opportunities for students to work with industry and develop career opportunities," he said.

"As announced Monday, NOVONIX is now uniquely positioned with our own battery cell pilot manufacturing line to be able to process materials, build commercial format pouch and cylindrical cells and test them on internally built High Precision Charger (HPC) systems in order to efficiently develop and optimize the performance of new materials for use in Lithium ion batteries. Innovative materials developed by Mark and his team can be trialed in standard commercial battery formats quickly by NOVONIX in Halifax.

"We are focused on developing commercially scalable materials that can improve the energy density, lifetime and power capabilities of Lithium ion batteries relative to today's industrial standards and benchmarks.

"Our collective goal is to innovate new and improved materials that show improvements in battery performance and get these materials to our existing battery manufacturer and OEM clients for trials and ultimately into their supply chain," Dr Burns said.

ABOUT PROFESSOR MARK OBROVAC

Professor Mark Obrovac is a leading battery materials innovator having authored over 75 peer reviewed journal articles, fifteen issued patents with a further seven patents pending in the field of battery science covering anodes, cathode, electrolyte and binder materials.

Regularly called on to review funding applications and to provide advice for Canada's NSERC and U.S. DOE battery programs for fuel cells for EV.

- DALHOUSIE UNIVERSITY (9/10 - Present) Canada

Professor at Dalhousie University and Industrial Research Chair of NSERC/3M CORPORATION

- 3M CORPORATION (7/02 - 8/10) USA

Project leader of Anode Materials Group with 3M Corporation

Research group became one of the top research teams in the world that with several fundamental discoveries describing the electrochemistry of silicon.

- BLUESTAR BATTERY SYSTEMS (5/95 - 8/95) Canada

Successfully developed electrolytes for primary carbon monofluoride batteries.

- BALLARD ADVANCED MATERIALS (09/93 - 12/93) Canada

Developed methods to synthesize and characterize solid lithium ion electrolytes.

- MOLI ENERGY (9/90 - 08/92) Canada

Worked on solid polymer electrolytes and cathode thermal stability for safety.

To view figures, please visit:
http://abnnewswire.net/lnk/1YFHTS1H 

Chris Burns
Chief Operating Officer
Phone: +1-902-449-9121
Email: chris@novonixgroup.com

Philip St Baker
Managing Director
Phone: +61-438-173-330
Email: phil@novonixgroup.com
Website: www.novonixgroup.com
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DroneShield Ltd (ASX:DRO) DroneGun Tactical(TM) Certified for Human Exposure

July 24, 2018, 3:55 pm
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DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce that its DroneGun TacticalTM product has been certified as compliant for human exposure, in connection with requests by potential governmental end-users, in relation to their procurement processes.

OneTech, a specialist SAR (Specific Absorption Rate) laboratory for global certifications, has certified DroneShield's DroneGun TacticalTM as compliant with the ARPANSA EN 50566 and EN 50663 (Australian and New Zealand Communications and Media Authority requirements for human exposure to radio frequencies) within the specific frequency bands of operation which cross references to the international ICNIRP standard.

The certification was obtained in response to the DroneGun TacticalTM product advancing through procurement processes with a number of major defence and other government agencies internationally, for which this was a requirement requested by several agencies.

The certification follows DroneGun MKIITM safety for human exposure certification in December 2017, and DroneSentryTM airport compliance certification in May 2018.

To view figures, please visit:
http://abnnewswire.net/lnk/75N31RQ2 

Oleg Vornik
CEO and Managing Director
Email: oleg.vornik@droneshield.com
Tel: +61-2-9995-7280
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Nova Minerals Ltd (ASX:NVA) Maiden Lithium Resource for Thompson Brothers and Exploration Target

July 24, 2018, 4:22 pm
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The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) are pleased to announce a maiden inferred lithium mineral resource for the Thompson Brothers Project in central Manitoba, Canada.

Highlights

- Maiden Inferred Resource for Nova of 6.3 Mt @ 1.38% Li2O containing 86,940 tonnes of Li2O using a 0.6% Li2O reporting cut-off.

- Remaining exploration target of 3 to 7Mt @ between 1.3 and 1.5% Li2O in the immediate area of the resource.

- Resource entirely from a single high grade lithium bearing pegmatite dyke partially outcropping at surface.

- Maiden Resource covers well under 5% of the project area.

- Resource confirms and extends upon a historic resource of 4.3Mt @ 1.3% Li2O and still remains open at depth and along strike both north and south of the drilled area.

The lithium resource is comprised entirely from one pegmatite dyke as defined by the 2017/2018 drill programs with approximately 4,800 metres drilled during that period. This main dyke is close to additional lithium bearing mineralisation that is as yet undefined and does not comprise part of the existing resource. The resource remains open at depth and along strike in both the north and south directions which will be among targets for the next phase of drilling. Figures 1 and 2 (see link below) show a cross section of the estimate against drill holes and an oblique picture of the deposit representing continuity of mineralisation. Figure 3 (see link below) is a geological plan showing the area covered by mining claims and the portion containing the resource.

Estimation was conducted only within the mineralised pegmatite with internal and external waste excluded as identified by hard boundaries. Interpretation occurred on a 2 dimensional sectional basis then combined to form a 3 dimensional volume model of the in-situ pegmatite dyke. No waste material in the host country rock was estimated.

The resource was estimated using Micromine software with an inverse distance squared interpolation method due to insufficient data available to suit variography and kriging.

The resultant resource is classified entirely as inferred in accordance with the JORC Code, 2012 Edition when taking into consideration, data density, deposit geometry, likely extensions and possible interpretation alternatives.

NVA Managing Director, Mr. Avi Kimelman said:

"This high-grade maiden resource has surpassed our initial expectation on grade and tonnes with a relatively small amount of cash spent to date. The resource represents an important milestone and indicates the potential scale of the project with the resource on well under 5% of the project area. With further exploration planned we are optimistic that this initial resource will be just the beginning, and that Nova through its subsidiary is well-positioned to develop a world-class lithium mine in Canada."

Geology and Interpretation

The dyke in the Thompson Brothers Project has been modelled as an intrusion into a pebble metaconglomerate / greywacke group of host sediments. The dyke has been interpreted as sub vertical, dipping between 2.5deg - 8.5deg towards 130deg azimuth. The strike of the body has minor variations around a general trend azimuth of 040deg and an interpreted plunge of 5deg to the north based on visual trends seen from the assays. The dyke carries both mineralised and unmineralised pegmatite as identified by the presence of spodume as the lithium bearing mineral. Only the lithium bearing pegmatite has been modelled in this instance which extends for a total length of 1,012m ranging in true thickness from a maximum of 18m to a minimum of 1.8m however, mineralisation has not been closed off either at depth or to the north or south of the drilled area.

The dyke is generally orientated between 20deg and 40deg offset from the apparent foliation in the surrounding country rock and there is outcropping evidence of additional mineralised and unmineralised pegmatite in the area that is yet to be defined in terms of size and or orientation.

Drilling

All holes were drilled with diamond providing NQ sized core. The total number of meters drilled during the 2017/2018 program was 4804.92m from 24 holes with a maximum depth of 371m. Holes were drilled at varying angles to allow multiple intersections and multiple holes to be drilled from single drill locations to minimise earthworks and clearing.

Sampling

Core was logged by professional consulting geologists and sampled on a geological basis. Sample lengths were typically 1m intervals but some samples were as small as 0.14m or as large as 1.75m. Core was halved with a diamond saw and placed into plastic sample bags for delivery to SRC Geoanalytical Laboratories in Saskatoon, Canada for sample preparation and analysis. QA/QC sampling consisted of the regular insertion of blanks, reject duplicates, and Certified Reference Standards within each 20 sample batch.

Sample Analysis

Core samples were crushed to better than 70% -2mm and a 1kg split was pulverized to better than 85% passing 75micronsm. All samples were analysed using SRC procedure code ICP1 using total and partial digestions and ICP analysis. SRC uses Internal QA/QC procedures to monitor the accuracy and precision of their work.

Estimation Methodology

Estimation was conducted in Micromine software with parent cell dimensions of 1m across strike, 25m along strike and 5m vertically to account for the vertically dipping narrow mineralisation geometry and the sparse data availability nominally around 110m vertically between intercepts and 100m horizontally along strike. Sub-celling was used along the deposit margins to honor the interpreted wireframes. Deposit orientations were measured manually on screen and assigned within the estimation parameters.

Samples were composited to 1m length weighted intervals with any residual added to the end of the intersection. No high grade cuts were deemed necessary due to the lack of any significant outliers although a 0.5% Li2O grade was used as a minimum basis for interpretation.

Li2O was estimated using an orientated inverse distance squared method along with discretisation of 2x2x2 to avoid overly localised estimates. The model was interpolated with a single mineralisation domain but conducted systematically due minor variation in structural orientations within the dyke. The primary search ellipse radius used 120m along strike, 2m across strike and 120m vertically oriented to the azimuth, dip and plunge of the respective structural orientations identified. A secondary search of 240m x 8m x 240m was used to fill any remaining empty cells after the primary search.

A density factor of 2.75t/m3 was used for reporting of tonnes based on documented averages for pegmatite globally and a recent resource report from FAR Resources for their Zoro Lithium project located approximately 3km west of the Thompson Brothers project.

Both statistical and visual validation methods were conducted prior to final reporting.

Cut-off Grades

A cut-off grade of 0.6% Li2O was used for resource reporting. This was a natural cutoff with less than 1% of cells containing grades less than the cut-off.

Classification

The resource is classified entirely as inferred in accordance with the JORC Code, 2012 Edition when taking into consideration, data density, deposit geometry, likely extensions and possible interpretation alternatives.

Other Modifying Factors

A preliminary metallurgical test was conducted to determine possible concentrate grade recoverable from the Thompson Brothers deposit. The test returned a concentrate grade of 6.37% Li2O from a composite sample of 1.4% Li2O indicating the potential to make a commercial product from the Thompson Brothers pegmatite. No engineering studies have been conducted however, given the sub vertical nature of the deposit, underground mining is anticipated to be the method of extraction.

Next Steps

The Company's strategy is to develop the project in a staged approach, including:

- Adding additional tonnage through further walk up drilling;

- Converting the inferred mineral resources to measured and indicated through further drilling;

- Converting the mineral resources to reserves;

- Exploring for extensions to the existing mineral resources and other potential mineralisation within the tenement package;

- Fast track metallurgical and feasibility studies.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/N7D02036 

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au
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Nova Minerals Ltd (ASX:NVA) to Unlock the Value of Its Lithium Projects

July 24, 2018, 4:23 pm
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The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) are pleased to report that they have resolved to pursue a strategy of listing its wholly owned subsidiary Snow Lake Resources Ltd. (Snow Lake) on the TSX Venture Exchange ("TSX-V"). Upon restructure, Snow Lake through its subsidiaries to have the right to earn 80% of the Thompson Brothers Lithium Project and 100% owned adjoining Crowduck Lithium Project in Canada.

- Spin-off of Snow Lake Resources Ltd. in a CAD$24 million IPO by seeking a listing on the TSX.V

- Nova to hold approximately 77% of the capital in Snow Lake Resources Ltd. post IPO

- Initial public offering of its shares to raise between CAD$4 - $5 million to further advance the project

- Toronto based private merchant bank "Foundation Markets Inc." engaged to lead spinout process

- Snow Lake Resources Ltd. to remain focussed on transitioning the Thompson Brothers and adjoining Crowduck projects as a supplier of quality lithium

Following meetings with North American investment banks, stock brokers and TSX.V listed entities during the last 6 months, Nova has received numerous enquiries to invest in or acquire the project, with the scale, near term development and quality of Thompson Brothers Lithium Project being of particular interest. While some of those market participants can invest on the ASX, with the majority predominantly focusing on the North American markets, and have actively encouraged the Company to seek a listing on the TSX-V particularly on a valuation metric compared to our Canadian listed peers (see Table 1 in link below).

This very strong market interest will best allow the progression of the Thompson Brothers Lithium Project to resource expansion, through a Preliminary Economic Assessment (PEA), further resource and exploration drilling, followed by completion of a Pre-Feasibility Study (PFS), and ultimately into production with no dilution to Nova's capital structure while benefiting on the project's success.

With a clear development pathway, Nova believes that Snow Lake Resources Ltd. will develop into an independent and viable lithium supplier for the emerging lithium battery market that is largely driven by electric vehicles, home battery storage, cell phones, tablets and other consumer products. Nova intends to maintain exposure to the Lithium assets through a retained majority equity interest of approximately 77% of Snow Lake Resources Ltd. post IPO on an undiluted basis. The spin-off will be subject to the approval of shareholders of the Company.

The Company has engaged a private merchant bank located in Toronto, Canada, Foundation Markets to lead the process of listing Snow Lake onto the TSX-V.

NVA Managing Director, Mr. Avi Kimelman said:

"Given the recent activity in the Lithium market with higher prices and strong demand from the electrical vehicle and battery storage markets, we think that Nova and its shareholders would benefit from a spin-off of its Lithium asset with our Canadian peers valuations sitting at many multiples higher to what is prescribed to Nova on the ASX while maintaining a majority interest in the company and project."

"Nova considered an in-specie distribution for its shareholders as part of the arrangement although after tax and legal advice the company was unable to get the desired tax relief for its shareholders. In light of that, with Nova maintaining a majority equity position, we believe this will flow through to benefit the Nova shareholders by unlocking the projects intrinsic value and continue to benefit as Snow Lake moves the project to eventual production and ultimate cash flow. The battery metals market in general has a strong growth profile with Snow Lake in a great position to capitalise on the opportunity."

"Nova will tighten its focus on its District Scale Gold Copper project, with the current 1.1Moz to 2.3Moz exploration target on less than 1% of the project area demonstrates the scope and scale. Exploration drilling program scheduled to begin within the next 4 weeks following drilling approvals with preparation and mobilisation now underway; we look forward to unlocking the projects full potential and value for our shareholders."

Nova will simultaneously work to fast track its anticipated Estelle Gold Copper Project exploration program of at least 8,000 metres where the Company has already established 1.1Moz Au to 2.3Moz Au exploration target on less than 1% of the project (refer to ASX announcement 26 February 2018). The exploration target was defined over a strike length of 740 metres from historical drilling results; the upcoming drilling program has been designed to explore at least three times the exploration target area. The drilling will also enable Nova to delineate a maiden JORC resource estimate targeted for end-2018.

About Foundation Markets

Foundation Markets Inc. is a private merchant bank located in Toronto, Canada. The Foundation Markets' team provides capital and domain markets expertise in combination with corporate matter advisory. In particular, Foundation takes a hands-on approach to incubate early stage private and public companies focused on rapid growth.

The Foundation Markets approach is centred on developing and executing strategic financing plans, and enhancing governance structures, with a proven track record of Merchant Banking services success.

To view tables, please visit:
http://abnnewswire.net/lnk/8Y0XC5ZX 

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au
↧

Ardiden Ltd (ASX:ADV) Completes Successful Due Diligence Drill Program at Pickle Lake

July 24, 2018, 4:28 pm
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Canadian focused explorer and developer Ardiden Limited ("ADV" or "the Company") (ASX:ADV) is pleased to announce the completion of the due diligence diamond drilling program at the Pickle Lake Gold Project in Ontario Canada.

HIGHLIGHTS:

- Due-diligence diamond drill program completed at the Pickle Lake Gold Project

- All four final drill holes have intercepted the target zone, confirming continuity of thick Iron Formation (I.F.) zones from close to surface with down hole widths of up to 19.40m (KAS-18-15)

- All 15 drill holes from the drill campaign successfully intercept the target zone from close to surface

- Mineralisation remains open in all directions

- Results continue to provide greater level of confidence in the potential of the Kasagiminnis Lake Property

The final round of drilling was successful with the last four drill holes all hitting the Iron Formation (I.F.) target zone at the highly-prospective Kasagiminnis Lake Property in Ontario, Canada.

The primary focus of the drill program was on the Kasagiminnis Lake Property and was designed to drill test and evaluate high grade historic gold intercepts and test mineralisation extensions of highly-prospective gold mineralisation zones.

Historical results from the Kasagiminnis Lake Property reveal the gold mineralisation is structurally controlled and hosted within a north-east trending I.F. which lies within mafic and intermediate volcanic units. The gold also appears to be associated with sulphides replacing magnetite within the I.F., a common mineralisation style. It is also notable that coarse visible gold is present (see Figure 1 in link below) in some mineralised intersections.

The Company considers these visual results to be very encouraging, as the early drill results and indications support the historic results, showing a continuity of structures and mineralisation within the I.F. zones. Historically, the I.F. unit has been found to be mineralised along a 1.4km section in the main Kasagiminnis zone with additional mineralisation intersected both along strike and in other parallel I.F. units and Intermediate Volcanics.

The drill program was completed using two drill pads and drilling about 1,870m, covering about 120m of the Kasagiminnis mineralised trend. All 15 drill holes successfully intersected multiple I.F. target zones from close to surface.

Ardiden confirms these drill holes have now been reviewed and logged by the Company's geological team and drill core samples are currently being analysed.

Visual logging of the drill core has confirmed the presence of multiple I.F. layers from close to surface and the deposit remains open at depth. The holes discussed reveal impressive intersections; (refer to Table 1 in link below for a full list):

- Hole SA-18-15, intersected 19.40m combined metres of I.F. zones from 107.80m down-hole over a total down-hole thickness of approximately 134.50m.

- Hole KAS-18-12, intersected 17.10m combined metres of I.F. zones from 101.50m down-hole over a total down-hole thickness of approximately 140.50m; and

- Hole KAS-18-14, intersected 16.90m combined metres of I.F. zones from 85.60m down-hole over a total down-hole thickness of approximately 113.50m;

These intersections complement those reported previously.

Ardiden notes the width of the I.F. zones identified in the drilling are down-hole lengths and the true widths of the zones are yet to be fully determined.

The true potential of the Kasagiminnis Lake Property location has not been fully drill-tested and the mineralisation remains open in all directions and at depth. The Company is targeting known gold mineralisation hosted in multiple I.F. zones and will continue to develop its geological interpretation of the Kasagiminnis Lake Property as further drilling and assay results are received.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/P2GJ2P51 

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6245-2050

Media:
Michael Weir / Cameron Gilenko
Citadel-Magnus
Tel: +61-8-6160-4900
↧
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