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White Cliff Minerals Ltd (ASX:WCN) Corporate Restructure and Share Consolidation

August 5, 2018, 6:02 pm
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White Cliff Minerals (ASX:WCN) ("White Cliff", "the Company") will seek shareholder approval to consolidate its issued share structure on a 50:1 basis and will seek to divest non-core assets. In conjunction with the consolidation the directors have agreed to cancel all outstanding performance incentives for no consideration.

Key Points:

- White Cliff Minerals to undertake corporate restructure including;

o Seeking shareholder approval to undertake a 50:1 share consolidation

o Divestment of Australian gold assets and selected cobalt-nickel projects via sale, joint venture or spin out

o Cancellation of all director performance share entitlements

- Cobalt strategy focus on resource definition drilling to crystallise cobalt-nickel value at Australian projects

- Gold strategy focus on extracting shareholder value from the 484,000 ounce Aucu gold deposit

Post consolidation, the Company will focus on extracting value for its gold deposit in the Kyrgyz Republic and advancing selected Australian cobalt and nickel deposits to JORC compliant resources and ultimately operating mines.

Corporate Restructure

Due to the Company's unwieldy issued capital structure and the granularity of changes in its share price at the current depressed prices the Company has decided to seek shareholder approval to consolidate its issued shares on a 50:1 basis. The consolidation will also affect both listed and unlisted options. Further all existing directors performance share rights have been cancelled for no consideration.

Further details are available in the Notice of Meeting dispatched today and released on the ASX announcement platform.

In conjunction with the share consolidation the Company is seeking to divest non-core assets including the Australian Gold assets and the Bremer range cobalt and nickel project via sale, joint venture or spin out.

In addition the Company will endeavour to convert some existing debt into scrip. A review of the composition and roles of the board of directors will also be undertaken.

Australian Cobalt Nickel Focus

The Company will focus on its cobalt and nickel projects located south-east of Laverton. Each of these projects have the potential to become significant mines in the near term. Although the projects are at early stages, White Cliff believes each could potentially support a stand-alone development of a size and quality that could rival some similar projects being promoted by the leaders in the Australian cobalt-nickel sector. The White Cliff projects all also benefit from being located close to Glencore's existing Murrin Murrin nickel-cobalt plant and GME Resources' proposed Mt Kilkenny nickel-cobalt plant, which offer alternative development options.

Gold Focus

The Company will also focus on extracting value from its 90%-owned Aucu Gold Project in the Kyrgyz Republic, which contains an inferred gold resource of 2.95 million tonnes at 5.1 g/t Au for 484,000 ounces of gold and an inferred copper resource of 17.2 Mt at 0.37% copper containing 64,000 tonnes of copper. Recent geochemical sampling across the project porphyry area has highlighted multiple significant gold-copper and base metals targets highlighting the scale potential of this mineralised system. The Company is actively seeking interested parties to assist with development of the project; and/or to acquire the project outright.

To view figures, please visit:
http://abnnewswire.net/lnk/XK28M8EE 

Todd Hibberd
Managing Director
T: +61-8-9321-2233
W: www.wcminerals.com.au
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Australian Potash Ltd (ASX:APC) Investor Presentation

August 5, 2018, 6:13 pm
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Australian Potash Ltd (ASX:APC) provides the Company's latest Investor Presentation.

Australian Potash Limited (ASX:APC)

APC is focused on the production of the premium specialty fertiliser potassium sulphate ("SOP") from at Lake Wells in the Eastern Goldfields of Western Australia

SOP is used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts

- Being assessed for Development Approval by the EPA

- MOUs in place with two of China's largest agricultural companies for up to 200,000 tpa

- JORC Mineral Resource Estimate of 12.7m tonnes of SOP

- 280kms from bulk rail infrastructure with road access

- Not subject to Native Title

- Two stage development

o Stage 1: 150,000 tpa - CAPEX A$174m

o Stage 2: 150,000 tpa - CAPEX A$160m

- Project LOM NPV10 of A$500m and IRR of 33%

To view the full presentation, please visit:
http://abnnewswire.net/lnk/5364781J 

Matt Shackleton 
Executive Chairman
e: m.shackleton@australianpotash.com.au 
m: +61-438-319-841
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Alt Resources Ltd (ASX:ARS) Completes Drill Program to Fast Track Resource Delineation at Bottle Creek Gold Project

August 5, 2018, 7:43 pm
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Alt Resources Limited (ASX:ARS) ('Alt' or 'the Company') is pleased to provide shareholders with an overview of recent and planned exploration activity at the Bottle Creek Gold Project, Mt Ida gold belt. The Bottle Creek Project is located 95 kilometres north-west of Menzies in South Central WA.

HIGHLIGHTS:

- First diamond drilling program completed including 7 diamond tails and 7 holes from surface; core has been cut, assays pending

- Stage 2 RC drilling at Emu and Cascade completed; assays pending

- Tailings dams aircore program completed; assays pending

- POWs approved RC drilling of ore shoots beneath VB and Boags pits

- POWs approved to drill mineralised laterite zones

- Drone topographic surveys completed at Emu and VB

- Structural review of airborne magnetics underway

- Moving loop EM survey scheduled to commence September 2018

- Maiden JORC resource for Emu and Southwark deposits to be delivered in August 2018

- Additional drilling to be incorporated in Resource in Q4 2018

- Mine plan and pit optimisation underway

Alt's recent activity at Bottle Creek has focused on delivering the maiden JORC resource for the Emu and Southwark mineralised zones. The Company has drilled systematic fences at approximately 25m line spacing and 25m hole spacing, producing 11,700m of sampled RC and DD drilling along a ~1,000m surface strike length. The Company objective with this density of drilling is to bring this section of the Bottle Creek Project into the JORC 'Indicated' category.

Alt has now completed the first modern diamond drilling program at Bottle Creek. Drilling contractors DDH1 completed 14 new diamond holes in total. Of these, 7 were new holes from surface and 7 were diamond tails extending recently drilled RC holes. The 7 diamond tails extended RC holes that either ended in mineralisation or were considered to have ended short of the mineralised zones based on surrounding drilling.

The core from the diamond holes has been cut and sent to ALS for assay and results will be announced on receipt of all assayed data and petrology. Three of the holes were diamond twins of historical RC holes to assist resource modelling. 2 holes were drilled at the Emu deposit and 1 at the Southwark deposit to provide a clearer picture of the geology. 13 samples from selected diamond core have been sent for petrographic analysis.

Alt's new drilling programs, which included a significant number of twin holes, have provided the resource geologist with a high degree of confidence in the >80,000m of historical drilling, conducted by previous developers Electrolytic Zinc and Norgold Ltd.

Alt recently completed the second stage of RC infill and extension drilling at Emu and Southwark, twinning historical drillholes to validate the previous data and drilling several additional drill fences (see Figure 3 in link below). Stage 2 of the RC program concluded on the 31st July 2018, with all samples despatched to ALS in Kalgoorlie for assay.

Alt recently completed a ~360 metre aircore drilling program across the Bottle Creek tailings dams (see Figure 4 in link below). Samples have been despatched to ALS Laboratories in Kalgoorlie and assay results will be announced when available. A hand sample collected from the Bottle Creek tailings dams contained 0.33 g/t Au and 18.1 g/t Ag.

Consistent with the Corporate Strategy to fast track the Bottle Creek Project, Alt engaged Kalgoorlie based Minecomp Pty Ltd to complete high resolution topographic drone surveys of the pre-stripped Emu deposit in preparation for development of the Mine Plan and Pit Optimisation (see Figure 5 in link below). Additional drone surveys were undertaken to update topographic data for the Boags and VB pits.

Over the past 6 months of operations Minecomp have continued to identify and survey a large number of historical drillholes. The survey work identifying the historic drill collar locations has enabled accurate transformation from the historic local site grid, used by the previous explorer in the 1980's, to the modern MGA coordinates and AHD elevations used today.

Alt has planned an RC drilling program designed to define four known zones of mineralised laterite previously identified by the historical miner, Norgold Ltd. The planned drill fences will be on a 10m line spacing and 20m hole spacing drill pattern (see Figure 6 in link below). The RC holes will be drilled to 12m vertical and drilling is planned to commence later in the year.

Gold-enriched laterites (surficial weathered soil horizon, rich in iron other elements) occur at a number of locations along strike at Bottle Creek. The zones of laterite display consistently anomalous gold mineralisation, which is evident in the assayed results from the recent RC drilling programs(see Note below) and also in historical reports from the previous explorer (see Norgold Ltd open file historical report, 1989, a28505). The mineralised laterites have formed from weathering of the original gold mineralisation where it is exposed at surface. Furthermore, preliminary geophysical analysis of magnetic data reveals the existence of palaeochannels cross-cutting the Bottle Creek mineralised zone (see Figure 7 in link below) Palaeochannels are fossilised surface features, formed in ancient times when water at surface formed channels (such as creeks or minor drainage), which were then filled with sediment eroded and deposited by the water. The features have been preserved such that they are detectable in the modern day.

The comprehensive review and re-interpretation of the available magnetic data for the Bottle Creek region currently underway by Southern Geoscience, has shown that several paleochannels may be associated with the Bottle Creek mineralised laterite. Mineralised laterite material appears to have been dispersed away from the main gold-bearing structure (the Emu Fault), resulting in alluvial redistribution of older supergene gold in laterites.

Historical drilling by Norgold Ltd identified several mineralised intercepts in laterites to the west of Southwark. Alt considers these zones to represent lateritic gold which has been eroded from its original site and redeposited in palaeochannels. These zones were not followed up by the previous explorer and now represent additional laterite targets for Alt's ongoing exploration and resource expansion program. Consistent with Alt's policy to fast track development of Bottle Creek, the Company will target these mineralised laterites as an additional potential source of ore for a proposed processing plant.

Further, Alt has commissioned Southern Geoscience to undertake a detailed structural review of the deeper magnetic data, focusing on ENE-WSW oriented structures which intersect the magnetic lineament associated with Bottle Creek gold mineralisation. Southern Geoscience has also been commissioned to run a TDEM moving loop electro-magnetic survey across the Southwark ore zone and along strike north of Southwark. The survey length will be 800m. Gold mineralisation through this area is predominantly hosted in carbonaceous shale, with zones of weathered and fresh massive sulphides adjacent to felsic intrusives in both the footwall and hanging wall. Alt considers high resolution moving loop EM will be a very cost effective mapping and targeting tool for the Bottle Creek Project.

Note: See Alt Quarterly, June 2018 for summary of results: http://www.abnnewswire.net/press/en/93998/

To view figures, please visit:
http://abnnewswire.net/lnk/UHCM5WGU 

James Anderson
CEO Alt Resources Ltd
E: james.anderson@altresources.com.au

Peter Taylor
Investor Relations
E: peter@nwrcommunications.com.au
M: +61-412-036-231
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Classic Minerals Ltd (ASX:CLZ) Implements Exploration Target Revision to Unlock Value of Its Fraser Range Ni-Cu-Co Project

August 6, 2018, 3:20 pm
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WA-focused gold exploration and development company Classic Minerals Limited (ASX:CLZ) ("Classic", or "the Company") is pleased to provide an update on its exploration targeting strategy at its Fraser Range Nickel-Copper-Cobalt project in WA.

Highlights:

- Renewed interest in exploration at Fraser Range Ni-Cu-Co project following Mark Creasy's recent discovery
- Classic will allocate a portion of exploration expenditure to commence follow up of priority targets

- Significant potential within major regional conductive target zone - 6km running south west from Mammoth Ni prospect and hosting 10 key targets

- Highly encouraging results from Mammoth and Alpha including:

o FRRC040; 2m @ 1.0% Ni from 106m (Mammoth)

o FRRC039; 1m @ 1.4% Cu from 42m; and (Mammoth)

o FRRC036; 5m @ 0.1% Co from 10m (Mammoth)

o 1m of 1.95% Cu from 104m (FRRC001) (Alpha)

o 1m of 1.04% Cu from 27m (FRRC016) within 5m at 0.47% Cu (Alpha)

o 5m thick zone of 0.57% Cu (FRRC013) (Alpha)

o 1m of 1.27% Cu from 36m (FRRC024) within 2m at 0.795 Cu (Alpha)

- Eye structure similar to Nova/Bollinger demanding follow up geochem and MLEM survey

- Mammoth Ni-Cu prospect requiring further drill testing to extend mineralisation beyond current 240m strike plunging north east

- Alpha Copper prospect mineralisation zone proven to extend over 500m by 100m wide, remaining open to the north and east.

1. INTRODUCTION

Although Classic has been primarily focused on gold exploration at its flagship Forrestania Gold Project ("FGP"), the Company is pleased to announce that a recent review of its Fraser Range dataset has identified several high-priority targets.

Furthermore, the Company notes increased interest in Ni-Cu-Co exploration in the Fraser Range following the recent discovery made by Mark Creasy
Classic CEO Dean Goodwin said:

The time is ripe for us to re-assess our Fraser Range project which has generated exciting targets requiring further follow up. With Nova/Bollinger 45 km along strike to the South-West, and Creasy's promising Silver Knight deposit less than 10km to the south of Classic's Fraser Range project, we feel the project remains an exciting asset with proven Nickel, Copper and Cobalt mineralisation that justifies additional review and inclusion in the Company's exploration budget and planning.

2. LOCATION - PRIME REAL ESTATE

Classic's Fraser Range tenure is completely surrounded by major holders and successful explorers/producers such as Independence Group (IGO) and the Mark Creasy Group. Classic views the proximity of its tenure in relation to IGO and Creasy Group holdings as extremely encouraging.

3. MAMMOTH NICKEL-COPPER PROSPECT

Classic discovered the Mammoth Nickel-Copper prospect in 2013. Mammoth is a new style of magmatic nickel-copper mineralisation on the Fraser Range. Drilling at Mammoth has so far proven the extension of the mineralisation to over 240m plunging north east.

Key points concerning the Mammoth Prospect:

- Intersecting thick zones of disseminated sulphides, including visible nickel and copper sulphides

- Disseminated, blebby, vein and semi-massive styles of sulphide mineralisation

- Thickness up to 23m downhole

- Close to surface - from 25m to ~100m so far

- Strongest intercepts to date include:

o FRRC040; 2m @ 1.0% Ni from 106m

o FRRC039; 1m @ 1.4% Cu from 42m; and

o FRRC036; 5m @ 0.1% Co from 10m

- DHEM and ground loop work has helped determine strike, depth extension and potential feeder structures at Mammoth

- Conductor now drilled to over 240m in length and open

- Mineralisation is sub vertical and plunges to the north east

- Currently ready for drill testing for strike and depth extensions

The Mammoth prospect is of interest as it appears to represent a genuine mineralised Ni-Cu system. The grades intersected to date are generally modest, but the presence of such a system is highly encouraging. The sulphide mineralisation is hosted in a metamorphosed Gabbro that strikes about 040deg and dips more-or-less vertically. The mineralised unit appears to split into 2 distinct horizons at the north end, and the better grading material appears to have a shallow north-easterly plunge.

The use of MLEM to more thoroughly search for additional mineralisation to the north is endorsed from a geological standpoint. The completion of DHEM in a larger selection of drill holes would also be beneficial, in order to aid targeting along strike and also in delineating targets that may be deeper within the vertically dipping host rock.

As with the Alpha deposit, the priority must be given to defining larger and consequently more strongly conductive targets which may indicate thicker and/or higher-grade mineralisation. One area of promise is beneath the currently drilled extents, where the DHEM plate identified in the survey of hole FRRC018 (discussed below). The plate appears to map a horizon of marginally higher grade, and is poorly constrained, and poorly drilled, at depth. This may represent an opportunity to target mineralisation that is of higher grade down-dip of the current drill coverage.

In regards to drill hole FRRC018, the anomaly in this drill hole corresponds to the Mammoth mineralisation. The conductor is explained, however, it is poorly drilled at depth. Given that the anomaly appears to correspond to a horizon of higher grade mineralisation, it's worth drilling a deep hole into the centre bottom of the plate to assess for grade and as a platform for DHEM to assess for any further down-dip continuation.

The Company sees great potential with following up the numerous Mammoth-style anomalies and delineating the next Ni-Cu ore body in the Fraser Range.

4. ALPHA COPPER PROSPECT

Classic discovered the Alpha Copper prospect in 2013. Hole FRRC001 intersected 1 m at 1.95% Cu, 0.11% Zn, 4.5 g/t Ag and 13 ppb Au from 103 m. Mineralisation is regarded as a possible vein which may be associated with a larger mineralized zone. 12 RC holes drilled at Target A2 along the re-interpreted EM conductor, intersecting thicker mixed sulphides, with up to 20% sulphides in some samples, and in zones up to 12 m thick. Mineralized zone is over 200 m long and over 60 m wide, plunging about 30 degrees to the NNW and outcrops as narrow, iron rich rocks. Include 1 m at 1.04% Cu at 27 m within a 5 m thick zone of iron copper mineralization in hole FRRC016 (see announcement dated 10 Oct 2013).

- Identified mineral zone over 500m long and over 100m wide

- Discovery hole was 1m of 1.95% Cu from 104m

- Dips NW, Plunges approx. 30 degrees NNE, remains open to north and east

- Drilling intersecting up to 20% sulphides in some samples with zones up to 12m thick.

- Delivered excellent early Copper intercepts with highlights including:

- 1m of 1.95% Cu from 104m (FRRC001) (Discovery Hole)

- 1m of 1.04% Cu from 27m (FRRC016) within 5m at 0.47% Cu

- 5m thick zone of 0.57% Cu (FRRC013)

- 1m of 1.27% Cu from 36m (FRRC024) within 2m at 0.795 Cu

- Thicker zones from 2m-8m of copper mineralisation from 0.2% Cu to 0.79% Cu occur through the deposit

- Mineralisation in all holes with most intersecting pyrite chalcopyrite mineralization

DHEM surveys have been undertaken on two wide spaced holes to help revise the conductor position.

At the Nova Nickel-Copper deposit, the near surface ore is limited and the ore body plunges to around 300m below surface where it flattens out into a substantial deposit. Deeper drilling should be undertaken at Alpha to explore for depth extensions to the current mineralisation.

The geochemistry and mineralogy of the Alpha Prospect are of some interest. Mineralogical evaluation conducted by Townend (2014) is suggestive of mostly mafic protoliths, with possibly minor siliciclastic material. Much of the logging indicates the presence of gabbro and mafic gneiss. However, the base metals present (Cu and Zn) and the notable absence of Ni, give a distinctly non-intrusive character to the system, instead suggesting more of a sedimentary or volcanic-related mineral system.

5. REVISTING THE "EYE" STRUCTURE - POTENTIAL INTRUSION PRIORTY TARGET

The "eye" structure in the south of the tenement is interpreted to be a large mafic intrusion, possibly fertile for Ni-Cu mineralisation and similar to the Nova/Bollinger intrusion system. MLEM, FLEM and geochemical sampling over the whole feature is being planned to assist with drill targeting.

Classic has planned a 200m x 80m soil sampling programme over the 2.5km long southwest-northeast orientated oval shaped airborne magnetic feature (identified from TMI survey data). Much like with Sirius' Nova discovery, the magnetic feature because of its eye-like appearance has been colloquially called the "Eye" with the core of the Eye interpreted at the time to be a dome or plug of ultramafic rocks or a layered mafic-ultramafic intrusion. It should be noted that Nova was discovered by the exploration of its own "Eye" prospect so named because of a lenticular shape seen in the magnetic data. This is inferred to represent a metamorphosed modified mafic-ultramafic intrusive complex. Consequently, magnetic structures similar to this seen in the Fraser Range Project are of high interest as Ni-Cu targets.

Should the proposed geochemical sampling and mapping produce encouraging results, a RAB/aircore drilling programme together with a ground moving loop electromagnetic survey ("MLEM") will be completed at the Eye to delineate targets at depth for drill testing. The RAB/aircore drilling will aim to drill to the base of the regolith over the eye shaped airborne magnetic feature.

6. HIGH PRIORITY GEOPHYSICAL TARGETS - CENTRAL ZONE

Classic has conducted a number of geophysical surveys over the Fraser Range project that have yielded an impressive number of targets (18 conductors in total). The prospectivity for discovering a large massive sulphide orebody on Classic Minerals' Fraser Range tenement has received a big boost with preliminary results from a new Sub Audio Magnetics (SAM) survey identifying a major EM anomaly 1km long extending from 40m to at least 500m deep, which is a further 350m below the depth of existing drilling at prospect A17.

The survey, completed over the northern part of the tenement, has focused on a trend running northeast through the Alpha Copper Deposit and Mammoth Nickel Copper Deposit. In addition to the EM anomaly at A17, three new conductors have been identified at depth and the conductive target "hot zone" in this already target rich area has been extended to over 6km in strike.

In terms of future exploration, the Company is focused on what is refers to as the Hotspot Central Zone as shown below: (see link below)

The Central Hotspot is attractive for many reasons including:

- Significant number of VTEM anomalies without any drill hole follow up

- Gravity image showing high gravity bouger anomalies (pink) under Classic's tenement

- Remarkably these VTEM anomalies are situated within these high gravity bouger anomalies

- Deep EM search ready to commence over geochem targets on gabbro's with a view to detect deep EM conductors for follow up drilling

Exploration will be focused on the Central Hotspot with additional surveys, geochemical sampling and eventually drilling to test the targets. These works will likely commence in the current quarter.

7. CONCLUSION

There is no doubt that the Fraser Range Project remains a highly prospective tenement with many significant targets to be assessed further. Classic sees potential in targeting anomalies within the "Eye" structure and following up EM conductors in the Central Hotspot region.

Fraser Range hosts a very large number of VTEM anomalies, which are very difficult to prioritise in the absence of other data. The key to further exploration in the area therefore is to generate other datasets that can facilitate the categorisation and prioritisation of VTEM (and other) anomalies for follow-up work and drilling. It is further crucial to identify what deposit models are being targeted, and to tailor exploration toward these particular models. From our recent re-examination of the data, it would appear that the major targets are Ni-Cu-(PGE) mineralisation associated with gabbro intrusive, analogous to the Nova-Bollinger deposit, Cu-Zn mineralisation related to the volcano-sedimentary regime of the Arid Basin, and perhaps gold mineralisation.

One of the key factors in identifying prospective rocks for hosting Ni-Cu mineralisation is the delineation of the extent(s) of gabbros in the region. This will be done in an accurate and objective manner, probably based on geochemical analyses and surface rock chip samples, due to the difficulties in identifying strongly metamorphosed rocks. The search for fertile gabbroic units will be guided by all available datasets, especially the magnetics and VTEM, as well as existing and proposed mapping and geochemical programmes. The existing gravity dataset can be utilised to help identify gabbroic intrusions within the hosting metamorphosed Fraser Range stratigraphy. However, based on previous Ni exploration experience, CEO Dean Goodwin will also be carrying out and employing detailed magnetics and ground gravity surveys to identify the gabbroic host rock.

In addition, magnetic and gravity inversion will assist in identifying potential gabbroic intrusions, as well as constraining the boundary between the two geological domains. This approach appears to be important as the Mammoth deposit, and several other similar-looking targets that lie immediately adjacent to this structure.

We have allocated a healthy portion of exploration expenditure and resources to commence follow up of these targets and will keep the market informed.

To view figures, please visit:
http://abnnewswire.net/lnk/HMV540G4 

Classic Minerals Ltd
T: +61-8-6305-0221
E: contact@classicminerals.com.au
WWW: www.classicminerals.com.au
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Fluence Corporation Ltd (ASX:FLC) Achieves First Commercial Aspiral(TM) Sale in the USA

August 6, 2018, 3:38 pm
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Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce the first commercial sale in the USA of its Aspiral(TM) Smart Packaged Wastewater Treatment Plant, based on Fluence's innovative Membrane Aerated Biofilm Reactor (MABR) technology.

- First commercial sale in the USA for Fluence's MABR-based solution

- Deployment at an LNG worksite in Texas' Gulf Coast region

- Short implementation timeline with commissioning by January 2019

The Aspiral(TM) L + Ultrafiltration (UF) plant designed for client WaterFleet, LLC ("WaterFleet") will treat the sewage of an LNG worksite, and will be commissioned by January 2019. The plant will treat 33,000 gallons per day of wastewater, with the treated effluent then being reused for dust suppression on the sites roads. The decentralized wastewater treatment plant, which can serve as a mobile or permanent installation, will be relocated by WaterFleet as required to meet its treatment needs.

WaterFleet chose the smart-packaged wastewater treatment solution due to its flexibility, high reliability, lower energy consumption, low maintenance, small footprint and exceptional nutrient removal results. Fluence is confident that the project can lead to additional opportunities in the municipal and industrial decentralized wastewater treatment market in the USA.

Commenting on this contract win, Fluence Managing Director & CEO Henry Charrabé said: "We are thrilled to have achieved a key strategic milestone for Fluence, with the first commercial Aspiral(TM) sale in the USA. We are excited by the opportunities we see in this market and see strong growth potential for other MABR-based products. Fluence's Aspiral(TM) Smart Packaged Wastewater Treatment solution consistently delivers high quality effluent that meets strict USA nutrient removal standards. We anticipate WaterFleet and other US-based companies will be eager to capitalize on the significant advantages of our technology."

Alan R. Pyle, Founder and CEO of WaterFleet commented: "Fluence's innovative and compact Aspiral(TM) system exactly meets the needs of our mobile wastewater treatment fleet. The ability to treat higher capacities with a small installed footprint and produce high reuse quality effluent, combined with minimal operational attention, allows WaterFleet the flexibility to engage larger capacity worksites and man camps around the Gulf Coast and Permian Basin with a mobile solution and maximize our operational resources. We look forward to using Fluence's range of Smart Packaged plants and the MABR technology in our other projects."

To view figures, please visit:
http://abnnewswire.net/lnk/P2J6WC20 

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

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

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

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

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

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)
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White Rock Minerals Ltd (ASX:WRM) Strategic Relationship with Sandfire (ASX:SFR) - ASX Waiver Granted

August 6, 2018, 4:23 pm
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White Rock Minerals Ltd (ASX:WRM) (White Rock) announced on 10 July 2018 a cornerstone investment and strategic relationship with Sandfire Resources NL (ASX:SFR) (Sandfire). The strategic relationship includes (among other things) an anti-dilution right enabling Sandfire to maintain its shareholding interest in White Rock, subject to ASX granting a waiver from ASX Listing Rule 6.18.

White Rock is pleased to announce that ASX has granted a waiver from ASX Listing Rule 6.18 to enable White Rock to grant the anti-dilution right. The terms of the waiver are set out in the Attachment to this announcement.

ASX has also provided confirmation that it will not require White Rock to obtain shareholder approval under ASX Listing Rule 10.1 should Sandfire choose to exercise the exclusive option to enter into an earn-in joint venture agreement in relation to White Rock's VMS Red Mountain Project (refer to White Rock's ASX announcement dated 10 July 2018 for details) on condition that the terms and conditions of the proposed earn-in joint venture are not materially varied before such exercise.

For more information about White Rock and its Projects, please visit our website http://www.whiterockminerals.com.au 

Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644

Shane Turner (Company Secretary)
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
Website: www.whiterockminerals.com.au
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EON NRG Ltd (ASX:E2E) Powder River Basin Drill Prospect

August 6, 2018, 6:15 pm
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Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) ("the Company" or "Eon") is pleased to announce that it has acquired its first lease in the Powder River Basin, Wyoming as part of the Company's exploration and development strategy. The lease, covers an area of 640 acres in Converse County, Wyoming (see Figure 1 in link below). The exploration rights are leased from the State of Wyoming at a standard lease rate for a primary term of five years and can be held by production on completion of a successful wells. This is expected to be the first of several lease acreage acquisitions as part of the future development strategy. The Eon Group is a licensed and bonded operator in Wyoming and currently operate two fields in Wyoming, Silvertip and Borie.

The Powder River Basin (PRB) has become one of the most active oil and gas basins in North America and has a long history of oil and gas production from more than 4,000' of stacked pay. The PRB has seen a significant increase in exploration and production in recent years from horizontal laterals in the unconventional rocks of the Niobrara and Mowry Shale. Operators are also testing horizontal laterals in the conventional sandstones of the Parkman, Sussex, Shannon and Turner with excellent results. The PRB has attracted multiple large E&P companies including Anadarko Resources, Chesapeake Energy, EOG Resources, Anschutz and Devon Energy. New technology in drilling and completions has the economics to a point where the break even is in $30-$50/Bbl oil in several of the formations.

Eon has identified potential drilling opportunities in the Minnelusa Formation. Prospects are supported by strong economics from wells drilled in the PRB since the 1960's and has good geological support for the presence of hydrocarbons. Factors that make these prospects attractive include:

- Production from the Minnelusa Formation is from conventional vertical wells to a depth of less than 8000'. Improvements in drilling technology, which has come from efficiency improvements in the resource plays, has reduced drilling costs significantly. Drill and complete costs are less than US$1.5 million per well;

- From over 1,300 individual Minnelusa wells drilled, the average cumulative oil production is over 320,000 bbls of oil per well and the average initial production (IP) range is from 185-300 BOPD;

- 100% oil production (no gas) with water drive which results in a low decline rate and long well/field life;

Eon Energy has commenced its land acquisition program for new drilling prospects in the PRB, and this will continue for the foreseeable future, with an aggressive drilling campaign in proposed for 2019. In addition to the Minnelusa, Eon is also targeting the conventional sandstones of the Parkman, Sussex, Shannon and Turner. The company is looking to acquire sufficient acreage to allow exploration to be carried out across multiple prospects and multiple formations.

The Company will provide further updates as new leases are finalized.

To view figures, please visit:
http://abnnewswire.net/lnk/808IK3R0 

EON NRG Ltd
T: +61-8-6144-0590
F: +61-8-6144-0593
WWW: www.eonnrg.com
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Hastings Technology Metals Ltd (ASX:HAS) Major Aeromagnetic Target Identified at Yangibana

August 7, 2018, 3:54 pm
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Hastings Technology Metals Limited (ASX:HAS) is pleased to announce the results of a detailed interpretation completed by independent consultants Southern Geoscience Consultants (SGC) on specific targets indicated in its earlier assessment of the Company's 2016 aeromagnetic and radiometric survey data. The interpretation has identified a major aeromagnetic anomaly that warrants drill testing, and indicated potential extensions of the defined resources at Auer and Auer North.

- Interpretation of aeromagnetic data identifies a major anomaly near Fraser's deposit

- Dimensions 1km by 800m by 400m

- Anomaly strength indicates probable magnetite-rich body

- Potential extensions to Auer and Auer North identified

- Assay results from infill drilling at Fraser's confirm expectations with results including

o 9m at 3.03%TREO including 1.22% Nd2O3+Pr6O11

o 9m at 2.38%TREO including 1.01% Nd2O3+Pr6O11

o 8m at 1.51%TREO including 0.59% Nd2O3+Pr6O11

o 6m at 2.87%TREO including 1.16% Nd2O3+Pr6O11

o 4m at 2.80%TREO including 1.15% Nd2O3+Pr6O11

- Drilling to increase Indicated Resources and thence Probable Reserves commenced at Auer and Auer North

INTRODUCTION

Results from recently-completed infill reverse circulation (RC) drilling at the Fraser's deposit are in line with expectations. RC and diamond drilling are now under way to increase Indicated Resources and thence reserves at the Auer and Auer North deposits.

AEROMAGNETIC ANOMALY

SGC's recent work has concentrated on a number of targets in the Fraser's Southwest area being the area that lies between Fraser's deposit in the east and the Auer and Auer North deposits in the west (see Figure 1 in link below). The major anomaly occurs predominantly in the southern corner of E09/2018 and has been modelled with a significant target as shown in Figures 2 and 3(see link below).

The detailed assessment of this feature has defined an anomalous magnetic feature with a strike length of approximately 1km with a strong magnetic susceptibility. The modelled feature has a depth extent of approximately 800m extending from surface, and a width of approximately 400m. This body has a higher intensity core (darker pink in Figure 3) (see link below) with a strike length of approximately 750m, a depth extent of approximately 650m (from 60m below surface), and a width of approximately 300m.

The strength of the anomaly in the Yangibana environment suggests the presence of a large magnetite-rich body, potentially similar to the magnetite-rich units that host portions of the known rare-earths deposits nearby.

Surface assessment has located evidence of ironstone and samples have been taken for analysis.

A conceptual hole shown in Figures 2 and 3 (see link below) is planned to provide a first test of the anomaly.

SGC also undertook interpretation of the aeromagnetic data further west, identifying potential extensions of 900m to the north of the current limit of the Auer North deposit and 1,200m to the south of the current limit of the Auer deposit.

INFILL DRILLING RESULTS

Assay results have been received for all RC holes drilled at Fraser's deposit as part of the programme to deliver a large composite sample representative of the Bald Hill and Fraser's mineralisation for further metallurgical testwork (see Figure 4 in link below). Results have been in line with expectations with best results shown in Table 1 (see link below). Details of hole coordinates and assays are shown in Appendices 1 and 2 (see link below).

The important Nd2O3+Pr6O11:TREO ratio ranges from 39% to 45% (other than FRRC145), in line with the November 2017 JORC Resource average of 42%. This ratio effects the proportion of the Company's target oxides of neodymium and praseodymium to TREO in the planned mixed rare earths carbonate product.

RESERVE EXPANSION DRILLING

On completion of the programme to recover additional metallurgical samples, both RC and diamond rigs are now focused on a programme to increase Measured and Indicated Resources and then, incorporating additional metallurgical, geotechnical and mining studies, to increase total reserves at the Project.

The current drilling programme is centred on the Auer and Auer North deposits with the intention of further adding to the Measured and Indicated Resources at these deposits. Geotechnical and geochemical work, and metallurgical testwork are all progressing with the aim of completion of mining studies and the establishment of further increased Probable Reserves by the end of 2018.

TERMINOLOGY USED IN THIS REPORT

Total Rare Earths Oxides, TREO, is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3C96NIY7 

Stefan Wolmarans
Chief Operating Officer
T: +61-2-9078-7674

Andy Border 
General Manager Exploration
T: +61-2-9078-7674
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Emmerson Resources Limited (ASX:ERM) Further Copper and Gold Geochemistry for Whatling Hill NSW

August 7, 2018, 4:19 pm
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Emmerson Resources Limited (ASX:ERM) (OTCMKTS:EMMRF) is pleased to announce highly encouraging copper and gold geochemical results over a 600m by 500m gridbased auger program. The grid covered previously reported copper and gold mineralisation from quartz stockwork magnetite veins within highly altered monzonite intrusives. The Whatling Hill mineralisation was identified from systematic sampling and recognition of widespread epidote-chlorite alteration typically associated with the outer zones of porphry copper-gold mineralisation. Moreover this project (plus our five other NSW projects) was selected from the application of proprietary predictive targeting models, aimed to increase the probability of a major discovery of copper and gold.

Highlights

- Compelling copper and gold soil geochemistry at the recently announced Whatling Hill discovery within the Fifield project

- Geochemistry supports rock chip values of up to 2% copper and 0.25g/t gold in quartz stockwork veins within altered monzonite intrusives

- Copper anomaly open to the south with potential for additional 1.5km extensions based on rockchip samples of up to 1.5% copper

- Recent age dating and "green rock" studies of alteration suggest similarities to other metal fertile Ordovician intrusive centres (e.g. Newcrests world class Cadia-Ridgeway copper-gold deposit that contains 8.7Mt Cu & 42Mozs gold)

- New tenement granted to consolidate Emmerson's ground position at Fifield and Kadungle within the Lachlan Transfer Zone

- Further geochemical and geophysical programs planned ahead of drilling

Emmerson's Managing Director; Mr Rob Bills commented:

"The soil geochemical program over our recently discovered Whatling Hill copper-gold project continues to exhibit the hallmarks of an early stage discovery. Geochemical and rockchip sampling indicate the mineralisation remains open to the south. A further round of auger drilling is planned to test for immediate extensions to Whatling Hill and also test a regional target some 5kms to the south.

Based on success at both Whatling Hill and Kadungle, Emmerson has consolidated its ground position in anticipation of further discoveries - given that these copper-gold porphyry deposits typically cluster and that we are in a very fertile metallogenic province, bounded by the Macquarie Arc and Lachlan Transfer Zone.

Our field based exploration has been complemented by cutting edge science which has included analysis of the alteration (trace and rare earth elements within the outer green rock or epidote/chlorite zone) where initial findings suggest we are within the geochemical footprint of a porphyry system. Moreover, age dating of the monzonite intrusion within the Raggatt Volcanics yielded a Late Ordovician to Early Silurian age -consistent with dates of the mineralised intrusions at the world class Parkes and Cadia-Ridgeway gold-copper deposits (work completed as part of the University of Tasmania CODES ARC Linkage project)

Obviously a discovery across any of our NSW projects would be transformational for the company - particularly given the paucity of new copper-gold projects and the compettion for new resources."

Whatling Hill (see Figures 1 & 2 in link below)

The copper contours of the 40m by 80m soil grid are supported by gold and molybdenum (see Figure 3 in link below) and broadly coincide with sparse float of epidote-altered monzonite intrusions. Minor quartz-magnetite-chalcopyrite stockwork veins, assaying up to 2% copper and 0.25g/t gold, provide evidence of potential underlying or peripheral mineralisation.

The geochemical contours are open to the south and further sampling is currently being planned. Given that Whatling Hill has never been drill tested nor seen systematic exploration, the proposed exploration program aims to pinpoint the best parts of the mineralisation of what we now consider a large copper-gold system. Typically these porphyry style systems occur in clusters and our regional reconnaissance suggests immediate targets some 1.5kms south of Whatling Hill and, based on the results of the "green rock study", a further area some 5kms to the south. Both areas will be systematically tested in the forthcoming geochemical program, followed by ground based Induced Polarisation (IP) geophysics to better define drill targets.

Other NSW Projects

The results of previously reported drilling at our nearby Kadungle project continue to be assessed with further work underway on the alteration and trace element geochemistry. Further south, regional reconnaissance has identified rock chips of up to 3.3g/t gold in quartz stockwork veins at the Kilmarnock prospect (see Figure 4 in link below).

Given this early encouragement, Emmerson has extended its ground position within this highly prospective, metal fertile area.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/W8JWL551 

For further information, please contact: 

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

Media enquiries

Michael Vaughan, Fivemark Partners
E: michael.vaughan@fivemark.com.au
T: +61-422-602-720
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Australian Bauxite Ltd (ASX:ABX) ALCORE Limited to Have Global Licence for Bauxite Refining

August 7, 2018, 4:44 pm
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Australian Bauxite Limited (ASX:ABX) (ABx) is pleased to announce that its wholly-owned subsidiary, ALCORE Limited will have global licence rights for bauxite refining using the ALCORE technology.

- ALCORE technology is designed to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products - see Figures 1 & 2(see link below).

- The global licence will allow ALCORE Limited to build multiple plants in any locations to meet growing demand for AlF3 and associated co-products as increase aluminium smelter production and as use of AlF3 in lithium ion batteries increase demand for AlF3.

- Site construction works for Stage 1 of the ALCORE project commenced on 1 July as planned at ALCORE's pre-approved Pilot Plant site in Berkeley Vale, Central Coast NSW.

- Stage 1 is designed to produce AlF3 test samples and then produce Corethane, which is pure hydrocarbon powder refined from low-value coals. Graphite can also be refined to a very high purity for use in high-efficiency batteries.

- Corethane has been used to provide thermal and electrical power. It has 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:

"Step by step, ABx is bringing ALCORE's powerful new bauxite refining technology closer to becoming an important domestic producer and supplier of key AlF3 products for the Australasian aluminium smelters. However, in the longer-term, these global technology rights allow ALCORE Limited to produce AlF3 in any location globally. Creating ALCORE Limited as a project-specific subsidiary is expected to unlock considerable value for shareholders in both the short and medium terms."

"ALCORE Technology also produces several valuable co-products including silica fume for the cement industry and Corethane pure hydrocarbons for energy and fuel security. Upside potential includes production of pure AlF3 for Lithium-ion batteries, iron oxide pigments, titanium oxide pigments. Further potential exists for developing ultra-pure products such as high purity alumina ("HPA") for the manufacture of scratch-resistant sapphire glass for phones and computer screens."

"ABx itself continues the development of its three core bauxite projects; the Tasmanian mine, the large Binjour Project in central QLD and the Penrose refractory bauxite project 90km inland of Port Kembla NSW."

To view figures, please visit:
http://abnnewswire.net/lnk/UWW3V6N1 

Ian Levy
CEO and MD
Australian Bauxite Limited
Telephone: +61-2-9251-7177
Mobile: +61-407-189-122
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Mustang Resources Ltd (ASX:MUS) Caula Vanadium-Graphite Project - Feasibility Study Drilling Underway

August 7, 2018, 4:49 pm
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Mustang Resources Ltd ("Mustang", the "Company") (ASX:MUS) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to announce that the feasibility study drilling program at its flagship Caula Vanadium-Graphite project in Mozambique is well underway. Mustang has planned 4,075m of diamond (DD) and reverse-circulation (RC) drilling to be completed in Q3 of 2018.

Highlights

- The feasibility study drilling program on the Caula Vanadium-Graphite Project in Northern Mozambique is well advanced with 3,025m of diamond drilling and 1,050m of reverse-circulation drilling planned for completion in Q3

- Caula hosts a JORC (Measured) mica-hosted vanadium resource of 22Mt @ 0.37% V2O5 (0.2% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) with high grade intersections up to 1.9% V2O5

- Caula also hosts, within the same deposit, a JORC (Measured) graphite deposit of 21.9Mt @ 13.4% TGC (8% cut-off) for 2,933,100 tonnes of contained graphite with high grade intersections of up to 29% TGC

- The project's flowsheet design allows for integrated vanadium and graphite concentrate production, predominately through simple flotation

- Caula vanadium is hosted in roscoelite (a mica mineral) and is expected to be cheaper and simpler to extract than from typical titano-magnetite (VTM) vanadium deposits

- In the USA vanadium was extracted from roscoelite as early as 1910 making the USA the largest vanadium producer in the world by 1941

- Caula Vanadium metallurgy lab work is currently underway at Nagrom Laboratories in Perth

- The scoping study is underway and scheduled for completion in September 2018, expected to be followed by Resource upgrades and feasibility studies in Q4-2018 and Q1-2019

The purpose of the drilling program is to:

1. Expand the existing Caula Vanadium and Graphite JORC Resources

2. Provide additional core samples for feasibility level metallurgical testing programs

3. Conduct geological, geohydrology and geotechnical studies

4. To underpin feasibility studies for the Caula project in Q4-2018 and Q1-2019.

Feasibility Study Drilling Program for the Caula Vanadium-Graphite Project

The drilling program for the Caula Project has been set out by Mustang's independent competent person Mr. Johan Erasmus of Sumsare Consulting, with 3,025m of DD drilling over 18 holes (MODD 33, 34, 35, 41, 36, 37, 38, 42, 43, 44, 45, 23, 24, 25, 21, 28, 29 and 39) and 1,025m of RC drilling over 16 holes (MORC BC 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 22, 23, 24, 25 and 27) (see Figure 1 in link below). A geological office, including core logging, cutting, sampling and storage facility has also been established and camp and site construction is currently underway.

Mustang Managing Director Dr. Bernard Olivier commented: "This drilling program is a significant step forward for Mustang Resources as we expect to see an expansion of the already valuable Caula Vanadium and Graphite resources. Samples from the drilling will be used to conduct further metallurgical testwork to validate and confirm the Company's previous testwork and reinforce the simplicity of the recovery process. We look forward to updating the market once the results become available."

As shown in Figure 2 below(see link below), the potential exists to expand the Caula Project significantly through the drilling program, which is in progress with independent drilling company, Major Drilling International Inc. ("Major Drilling"). In the immediate vicinity of the Caula discovery, vanadium-graphite mineralisation has now been defined over a 540m strike length (open ended to the south) and this mineralisation is up to 230m wide (estimated true thickness), with the depth being completely open-ended at the limit of the current drilling.

The 4,075m of feasibility study diamond and reverse circulation drilling will test for both up-dip and down-dip extensions to the Caula deposit in this area. In addition to the clear potential to define additional vanadium-graphite mineralisation immediately adjacent to the existing Caula Measured Resource, strong potential exists to define the high-grade vanadium-graphite mineralisation over the significantly larger project area as illustrated in Figure 2 below(see link below).

Vanadium Production from Mica (Roscoelite) Ores

The Caula Vanadium-Graphite deposit (and the deposits along strike to the South of Caula, including the Syrah Balama deposit) provide a unique opportunity to replicate the success achieved by American miners in the early 20th century using a simple and proven process to extract Vanadium.

20th Century Vanadium Mining in the United States(see Note 1 below)

In the United States Colorado Plateau, between 1910 and 1955, there were several operations producing vanadium from micaceous ores, particularly from ores containing roscoelite mica found in near-surface deposits which consisted of sandstone impregnated with vanadium-rich roscoelite, which is the same mineral that occurs in the Caula deposit. Roscoelite, the vanadium mica, is the principal source mineral in the Placerville vanadium deposits and occured as minute flakes coating the grains of sand, and partly or completely filling the pore spaces between grains.

During the period, a number of techniques were used in the recovery of vanadium. As the ore was crushed and ground, mica flakes were often recovered by screening and through means of froth flotation. Mica concentrates were also calcined and then leached as a form of extraction.

A range of processing conditions were used in the treatment of concentrates. In some operations, a salt roast was followed by a water leach, whereas in others, the mica was roasted with other additives such as calcium sulfate and then acid or alkali leached to dissolve the vanadium.

Given the relative simplicity in the processing and treatment of these mica-vanadium deposits, the United States was propelled to become the worlds' largest vanadium producer by 1941. The majority of these deposits, especially the ones with low uranium content, were subsequently mined out and production then shifted to VTM deposits in South Africa and elsewhere.

Syrah Resources Metallurgy Testwork

More recently, in 2014, Syrah Resources (ASX:SYR) (refer to Syrah Resources "Update on Vanadium Metallurgy" dated 8 April 2014) reported the results of vanadium recovery testwork ore from its Balama project in Northern Mozambique. From the testwork, it was noted that that the application of Wet High Intensity Magnetic Separator ("WHIMS") and mica flotation processes to the graphite flotation tailings, was effective in recovering vanadium and could achieve a combined concentrate grade of > 3% V2O5. Further work showed that commercial grade vanadium pentoxide (98% and 99.9% Purity), which is suitable for battery use, can be produced from this vanadium concentrate.

Mustang Resources Metallurgy Testwork

Mustang Resources metallurgical testwork conducted to date at Independent Metallurgical Operations Pty Ltd ("IMO") and Nagrom, both located in Western Australia, has shown that the vanadium reports to the tailings during the graphite flotation process. Vanadium recovery testwork on the flotation tailings demonstrated that a portion of the vanadium could be recovered and concentrated using WHIMS. The testwork also shows that additional vanadium could be recovered from the WHIMS tailings by a froth flotation procedure, aimed at recovering and concentrating micaceous minerals including roscoelite. This work is at a preliminary stage but has demonstrated strong similarities between the Caula and Balama mineralisation. Ongoing testwork is underway and aimed at optimising vanadium recovery and concentrate grade.

Geology of the Caula Vanadium-Graphite Deposit

The Caula Vanadium-Graphite deposit is located in northern Mozambique in the Cabo Delgado Province (see Figure 5 in link below). The vanadium-graphite mineralisation is hosted in quartzitic schists of the Xixano, with the most common lithologies including Graphitic Schists, Gneisses and thin Pegmatoidal zones. Although Sulphides are occasionally logged, they are usually absent. The surrounding country rock consists of Quarzitic and Micaceous Schists and Gneisses. Vanadium mineralisation is found within the vanadium-mica roscoelite, with up to 17% V2O5 in the mica depending on lattice position substitution and valency states. (see Note 2 below)

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 (see Figure 6 in link below). Due to the region's tectonic history these meta-sediments have been altered to the extent that no sedimentary structure remains.

Caula Vanadium-Graphite Resource Estimate

The current 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 540m strike length. With the exception of drillhole MORC004 (-77deg), all holes were drilled at inclinations of between 55deg and 60deg from the horizontal.

The Measured Vanadium-Graphite Mineral Resource totals 22 million tonnes at an average grade of 0.37% V2O5 and 13.4% TGC for 81,600 tonnes (180 million pounds) of V2O5 and 2,993,100 tonnes of contained Graphite.

The results of the Mineral Resource estimate are summarised in Tables 1 and 2 below(see link below). Drillhole information and reporting in accordance with the JORC Code 2012 Edition are included as Appendices to this announcement(see link below).

Notes:

1 Vanadium the new green metal. Mineral deposits in the Colorado Plateau. Hammond, AD. December, 2013. Mining Engineering Magazine

2 When Vanadium (oxidation state 3+) substitutes for Aluminium in the Muscovite lattice it constitutes up to 17% of the molecule mass. With this Vanadium substitution the mineral is named Roscoelite.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/O9AUW1M0 

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

Media & Investor Relations: 
Jane Morgan Management
Jane Morgan
E: jm@janemorganmanagement.com.au
T: +61-405-555-618
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Carnarvon Petroleum Limited (ASX:CVN) More Oil Confirmed in Dorado-1 Well

August 7, 2018, 5:00 pm
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Carnarvon Petroleum Limited ("Carnarvon" or "the Company") (ASX:CVN) (OTCMKTS:CVONF) is pleased to confirm that the Quadrant-Carnarvon Joint Venture has made additional oil discoveries in the Crespin and Milne Members of its Dorado-1 well.

Highlights

- Latest wireline results confirm more light oil in the Crespin and Milne Members

- Adds another 40 metres of net oil pay

- Total hydrocarbon net pay now 132 metres in the Dorado-1 well

The results, which follow the completion of the wireline evaluation, are in addition to those announced on 18 and 24 July 2018.

Carnarvon's Managing Director, Adrian Cook said the latest results make the Dorado result all the more impressive.

"The oil discovered in the Caley Member is very significant in terms of its likely scale and in proving that this play works in the basin. Discovering more oil in the Crespin and Milne Members makes this a truly incredible find, for Dorado and for similar structures nearby that have been identified in Carnarvon and Quadrant's prospect list." Mr Cook said.

Light oil has been recovered from the Crespin Member containing a gross hydrocarbon package of 50 metres and a net oil pay thickness of 22 metres. The quality of the reservoir encountered was better than pre-drill estimates with average porosities of 14 per cent.

Light oil was also recovered from the Milne Member containing a gross hydrocarbon package of 30 metres and a net pay thickness of 18 metres. The average porosity of 13 per cent was also better than the pre-drill estimates.

Pressure data has confirmed that the Dorado structure contains multiple oil columns in the Caley, Crespin and Milne Members and a gas and condensate column in the Baxter Member, aggregating to a total net hydrocarbon pay of 132 metres. The Caley, Baxter and Milne sands did not encounter any water, whereas the lower section of the Crespin sand contains an interpreted water contact.

"With drilling and evaluation of the Dorado-1 well now completed, Carnarvon's assessment of the hydrocarbon volumes associated with this discovery is now well underway.

The hydrocarbon volumes will be announced to shareholders and investors as soon as possible." Mr Cook said. 

Project equity Owners (WA-437-P): 

Carnarvon Petroleum                 20% 

Quadrant Energy (Operator)          80%

To view figures, please visit:
http://abnnewswire.net/lnk/360HD768 

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

Media inquiries:
Simon Shepherdson
Chief of Staff, Spoke Corporate
Phone: +61-413-809-404
Email: simon@spokecorporate.com
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Cervantes Corporation Limited (ASX:CVS) Pansy Pit Keeps Giving Gold

August 7, 2018, 9:37 pm
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Cervantes Corporation Limited (ASX:CVS) announces Pansy Pit keeps giving Gold.

HIGHLIGHTS:

- Shallow gold mineralisation intercepted at the historic Pansy Pit

- Significant gold intercepts include (down hole widths, true width unknown): (see link below)

- Gold mineralisation is much more pervasive than indicated in historic drilling and not restricted to quartz veins

- Total hole gold grade averages, reflect the auriferous nature of this area

- Gold grades may be amenable to a heap leach operation that would access bulk tonnage, rather than the narrow veins previously considered, although enquiries from a mill in the district have been persistent.

- Ability to grow the area of the gold mineralisation through additional drill testing recognised

All assays from the recently completed RC drilling campaign in the historic Pansy Pit in the Primrose Project, M59/662, (see Figure 1 in link below) have been received. Eleven RC holes were completed for 336m (see Figure 2, Table 1 in link below). The campaign was curtailed due to some inaccessibility near the pit walls.

Historic drilling at the Pansy Pit intersected up to 8m at 7.08g/t gold (ASX announcement 28 March 2018). The recently completed campaign was designed to test extensions of this mineralisation updip, downdip, and along strike, and provide fresh material for possible metallurgical testing and geotechnical information to assist in its evaluation.

Geology

Regionally, the Pansy Pit is hosted in undifferentiated amphibolites between two splays of the Primrose Shear (see Figure 3 in link below). Drilling intercepted a package of altered mafics in which auriferous and, in places, sulphidic quartz lodes have developed, possibly in response to shearing. Alteration, mainly chloritic-fuchsitic, but also goethitic, sulphidic, and carbonate alteration, is highly variable.

A number of quartz lodes were intercepted. These ranged from one to ten metres in width downhole and are frequently associated with local shearing. Whilst often auriferous, not all intercepted quartz lodes carried significant gold grades. Similarly, pyrite was often, but not ubiquitously associated with these quartz lodes.

In the north-west of the drilled area an altered felsic unit was intersected and seen to interfinger with the altered mafic unit. This felsic may have been the driver for the quartz-gold mineralisation.

The base of oxidation is generally around 30m though not intersected.

Mineralisation

Insufficient drilling has been undertaken to unambiguously identify specific quartz lodes from section to section. Gold is often hosted by these quartz lodes. For example, in hole CVSRCP001 the intercept of 3m at 4.91g/t gold from 34 metres (downhole width, true width is unknown) is wholly within a pyritic quartz lode. Elsewhere, however, gold grades are hosted within shearing - eg, in hole CVSRCP006 an intercept of 1m at 6.31g/t gold from 13m is hosted entirely within a sheared mafic. In hole CVSRCP007 an intercept of 2m at 6.13g/t gold from 22m is hosted by unsheared, massive mafics with no noted quartz content (all quoted depths are downhole depths).

These observations are significant: historic drilling only sampled obvious (logged) quartz veins. This drilling campaign has demonstrated that there exists substantial gold mineralisation in the host rocks, so giving the area a higher potential than previously thought. Whilst of moderate grade, the gold mineralisation remaining in the Pansy Pit may be amenable to cheap extraction, eg, by heap leach, given it is shallow and predominantly in the oxide zone, although expressions of interest from a mill in the district have been persistent.

A feature of the area drilled is that it is almost universally auriferous. No samples from this drilling reported below the detection limit of the assaying technique (0.005g/t gold). Table 2 is a listing of the significant gold intercepts from this drilling (see the JORC table for agglomeration parameters.)

Representative cross-section

Insufficient drilling has been undertaken to unambiguously identify specific quartz lodes from section to section. The historic drilling is devoid of meaningful geologic observations and so is of limited use in gaining an understanding of the Pansy Pit geological setting. Representative interpreted geological section is shown in Figure 4 and 5(see link below), the location of which is shown on Figure 2(see link below).

These sections show a transition from a steeply dipping quartz lode system near the centre of the pit to a more moderate and possibly flatly dipping system at the northern end of the pit. The transition is interpreted as a mineralised system that is wrapping around a possible felsic intrusive to the west of the pit, an interpretation that needs to be tested by further drilling. That felsic intrusion may be the driver for mineralisation in the Pansy area and may constitute a drilling target in its own right.

Next Steps

A fuller assessment of these drilling results will be undertaken to better understand the controls on gold mineralisation. The historic hole collars no longer exist; Cervantes may decide to redrill those holes to more fully test the area for gold mineralisation in the light of the conclusions drawn from this drilling campaign. Holes unable to be drilled during this campaign will be re-assessed for possible future completion.

A more regional assessment of the Pany mineralisation will be undertaken, particularly in light of the gold anomalism seen in aircore drilling to the south east of the pit (ASX announcement 11 July, 2018.)

Cervantes is now in a position to review all the completed drilling programs carried out on all the relevant projects and prepare new drilling programs, budgets and submit work programs. At this stage it is expected we would commence with expansion drilling at Albury Heath in Meekatharra, where spectacular 2oz, 3oz and up to 6oz results occurred.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/453O5ODO 

Collin Vost
Executive Chairman
T: +61-8-6436-2300
E: cvost@cervantescorp.com.au
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Fluence Corporation Ltd (ASX:FLC) Awarded US$3.5M Contract for Plant in Argentina

August 8, 2018, 3:33 pm
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Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that it has received a US$3.5 million contract to design and build a water treatment plant for a prominent power plant in Buenos Aires, Argentina.

- Water treatment plant will support capacity expansion for the power plant

- System will treat aquifer water and reuse process effluent to maximize recovery rates

Fluence will design and build a complex system to treat water from aquifers and process water from the power plant's operations. The system includes several stages and uses multi-media filter (MMF), ultrafiltration (UF), reverse osmosis (RO) and electrodeionization (EDI) technology. Fluence's system is expected to be delivered, installed and operational onsite by June 2019.

Fluence and its local EPC partner were selected by the customer for this project due to their expertise in treating complicated water sources to reuse quality, the system's small footprint, and the combination of lower capital investment required and operational efficiencies to be generated. The plant design will ensure reliability and maximize water recovery rates, allowing the power plant to implement a cost-effective and environmentally friendly solution.

In Buenos Aires, the standards for water quality discharged into the environment are among the strictest in Argentina. Fluence was able to achieve the client's desired water quality due to its extensive experience designing water treatment systems for power plants, with three other reference projects in the power industry in South America within the last year alone, and more across the globe - including the recently announced EUR3.9 million Belgian contract for an innovative wastewater-to-energy system for ArcelorMittal, the world's largest steel producer.

Fluence's Managing Director and CEO, Henry Charrabé said: "We're delighted that, working with our local EPC partner, we have been able to secure this contract for a prominent power plant in Buenos Aires. We continue to strengthen Fluence's position in South America as one of the leading water and wastewater treatment solution experts by developing systems that produce the highest quality results. Our continued success in South America, especially for industrial operations, is a testament to the skill and hard work of our local team." 

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

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

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

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

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

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)
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Carnarvon Petroleum Limited (ASX:CVN) Phoenix South-3 Drilling Update

August 8, 2018, 3:34 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 well has drilled from around 5,210 metres Measured Depth ("MD") down to around 5,393 metres MD through the Caley Member.

While drilling through the Caley Member, a number of sandstone intervals were encountered in the section from approximately 5,200 metres MD to 5,300 metres MD that, from logging while drilling tools, were interpreted to be porous. Elevated gas readings and increased resistivity were observed across these sandstone intervals that indicate the presence of hydrocarbons.

The positive observations in this section of the well now warrant wireline logging which will be undertaken from approximately 5,200 metres MD to 5,393 metres MD in order to obtain more definitive results regarding the nature of the hydrocarbons (oil, gas and condensate) and the characteristics of the reservoir within the zone of focus from approximately 5,200 metres MD to 5,300 metres MD.

Current Operations

The rig is currently preparing to run a suite of wireline logging tools.

Forward Plan

The acquisition of the wireline data which will complete the drilling and evaluation of the Phoenix South-3 well.

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. 

Project equity Owners: 
-----------------------------------------------------
Carnarvon Petroleum                        20% 

Quadrant Energy (Operator)                 80%

To view figures, please visit:
http://abnnewswire.net/lnk/85U31408 

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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Search

Rumble Resources Ltd (ASX:RTR) Option Agreement to Acquire Ni-Cu-Co-PGM-Au Projects, Sudbury, Canada

August 8, 2018, 4:29 pm
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Rumble Resources Ltd (ASX:RTR) ("Rumble" or "the Company") is pleased to announce that in line with its clear strategy to proactively generate a pipeline of quality high grade base and precious metal projects, critically review them against stringent criteria, provide optionality to complete low cost systematic exploration to drill test for high grade world class discoveries on multiple projects, it has signed a binding option agreement to acquire up to 100% of the Long Lake and Panache Projects from well-known local (Sudbury) prospector, Gordon Salo.

Highlights

Long Lake Project - Gold-Copper-Nickel-PGM, Sudbury, Canada

- Potential for nickel-copper-PGM mineralisation and deposits associated with Sudbury Basin style Offset Dyke ore systems.

o Project area lies some 10km southwest of the Kelly Lake Ni-Cu-PGM deposit (10.5Mt @ 1.77% Ni, 1.34% Cu, 3.6 g/t PGM reserve) which lies at the southern end of the major Copper Cliff Mine Sequence (Copper Cliff Offset Dyke).

o Fieldwork (including a single shallow diamond drill-hole) has highlighted Sudbury Breccia and quartz diorite (known host for Sudbury Basin deposits) occurrences over several km of strike. The occurrence is inferred to be the faulted southern extension of the Copper Cliff Offset Dyke.

o No deep penetrating ground TEM surveys have been conducted to test for Ni - Cu - PGM massive sulphide mineralisation.

- The Long Lake Project also hosts the historic Lake Gold Mine which produced 57,000 ounces of gold from over 200,000 tonnes of ore mined in the periods 1910-1916 and 1932-1939, with an average recovered mill grade of 9 g/t Au.

Panache Project - Cobalt-Nickel-Copper-Gold-PGM, Greater Sudbury, Canada

- Potential mineralised feeder dykes associated with layered gabbroic intrusions (Nipissing Age - not related to the Sudbury basin) have been identified by mapping and surface geochemistry. No ground TEM has been completed.

o Rock chip assays of up to 1.1% Co, 6.01% Cu, 1.47%, Ni, 3.5 g/t Pgm and 524 g/t Au collected from surface sampling.

Rumble Exploration Strategy

- Long Lake Project - Target blind Sudbury "Offset Dyke" style massive Ni - Cu - PGM type deposits by using high power ground TEM to generate potential conductors

- Panache Project - Target high order base metal with PGM surface anomalism inferred to be potential feeders to gabbroic intrusions using high power ground TEM to generate potential conductors

- Conduct diamond drilling to test conductors that may represent massive Ni-Cu-PGM sulphide mineralisation/deposit.

Rumble is at an exciting stage for shareholders, having recently drilled the Munarra Gully high grade Cu-Au Project (awaiting assays) and the Nemesis high grade Au project (awaiting assays), is scheduled to drill the flagship high grade Braeside Zn-Pb-Cu-Ag -V Project in August and the Earaheedy High Grade Zn Project in September, and is fully funded with $3.8m cash in the bank.

The Long Lake and Panache Projects have met the stringent criteria and will provide shareholders with another near-term opportunity to find a world class base and precious metal deposit.

Overview of Sudbury Mining Camp, Ontario Canada - Image 2 (see link below)

Since 1883, the Sudbury mining field has been globally significant with the Sudbury Basin the second-largest supplier of nickel ore in the world, and new discoveries continuing to be made. It is one of the most productive nickel-mining fields in the world with over 1.7 billion tonnes of past production, reserves and resources.

Nickel-copper and platinum group metals ("PGM") bearing sulphide minerals occur in a 60 km by 27 km elliptical igneous body called the Sudbury Igneous Complex ("SIC"). The current model infers the SIC was formed some 1,844 million years ago after sheet-like flash/impact melting of nickel and copper bearing rocks by a meteorite impact. The SIC is within a basin like structure (Sudbury Basin) which had been covered by later sediments and has subsequently been eroded to the current level. Mineralization occurs within the SIC as well as in the neighbouring country rocks in close association with breccias and so-called 'Offset Dykes'. Offset Dykes with metamorphosed (hot) Sudbury breccias have become the target of progressively more intense exploration interest in recent years following the discovery of blind economic deposits. Offset dykes are typically quartz-diorite in composition and extend both radially away from and concentric to the SIC. It is important to note that the Offset Dykes developed downwards from the impact melt sheet. Melt material migrated down into the fractures caused by the impact below the SIC. The melt carried metal sulphides that accumulated into deposits within the Offset Dykes by gravity and pressure gradients (impact rebound). Nearly half of the nickel ore at Sudbury occurs in breccias and Offset Dykes in the footwall rocks of the SIC.

The Copper Cliff Offset Dyke System (see Images 2 - 4 in link below)

The Copper Cliff South (producing) and the Copper Cliff North mine have yielded some 200 million tonnes of ore along the north-south trending offset dyke system. Vale Limited's Clarabelle mill, Copper Cliff smelter and Copper Cliff nickel refinery are all located close to the Copper Cliff Offset dyke.

The southernmost deposit discovered to date is at Kelly Lake which lies south of the Copper Cliff South mine (see image 2 and 4 in link below). The Kelly Lake reserve is 10.5 Mt @ 1.77% Ni, 1.34% Cu and 3.6 g/t PGM. Note that IGO's Nova - Bollinger Deposit which lies in the Albany Fraser Province of Western Australia has a reserve of 13.3 Mt @ 2.06% Ni and 0.83% Cu (2017).

The Long Lake Project (see images 2 and 4 in link below) lies some 10km southwest of the Kelly Lake deposit.

Long Lake Project

The Long Lake Project comprises of the historic Long Lake Au mine and over four km of Sudbury breccia/quartz diorite outcrops which are interpreted to be part of the prospective "Copper Cliff Offset Dyke" system that has been moved west by later regional faults. The area of tenure is approximately 19 km2.

Nickel - Copper - PGM Potential

Exploration by previous explorers (including the current owner - Gordon Salo) has highlighted the occurrence of north-south and northwest striking Sudbury Breccia style dykes with quartz diorite. Petrography and a single shallow diamond drill-hole (82m depth - 2011) has confirmed the presence of moderately metamorphosed Sudbury Breccia with elevated PGM (relative to the surrounding rocks) at a location called Anomaly 19 (see image 4 in link below). The location is coincident with a moderate VTEM conductor. Reconnaissance prospecting and petrography has confirmed the presence of numerous quartz diorite north trending dykes over 4km in strike.

Electromagnetic surveys have been limited to VLF (1987) and VTEM (2008). Technical review of both surveys suggests the likely depth penetration for these systems is shallow at approximately 100m. Given there is a moderate VTEM conductor at Anomaly 19 (not explained), the use of high power ground TEM will be Rumbles priority in generating deeper conductive targets.

Gold Potential

- The Long Lake Gold Mine produced 57,000 ounces of gold from over 200,000 tonnes of ore mined in the periods 1910-1916 and 1932-1939. The average recovered mill grade was 9 g/t Au.

- Long Lake historically was the largest gold mine in Ontario

- Mine tailing dumps (200,000 tonnes) remain on site

- The Long Lake gold deposit is a quartz - sulphide composite vein pipelike system hosted in quartzite with dolerite/gabbroic intrusions. The mineralisation was truncated by a low angle fault. Drilling in 1936 encountered high grade ore in unexploited areas beneath the fault which included intersections of 6m @ 13.8g/t Au with further drilling in 1970s intersecting 5.7m grading 27.5g/t Au & 1980s drill hole intersecting: 4.1m grading 14.8g/t Au.

- Exploration from 2010 to 2012 focused on interpreted fault extensions and EM targets generated by a VTEM survey (2008). A number of targets were tested. The best intercept was 35m @ 2 g/t Au from 27m, which was located only 15m from the historic open cut.

Panache Project

The Panache Project (approximately 30km2 in area) is located 40km southwest of the city of Sudbury, Ontario, Canada. The project hosts a large portion of the Panache gabbro intrusion which is part of the regional extensive Nipissing Gabbro Suite (2215 million years old). Prospecting operations by the project owner, Gordon Salo, has uncovered a series of prospects associated with disseminated to massive sulphides (pyrrhotite - pentlandite - chalcopyrite - pyrite) along gabbro contact margins. Massive sulphide pipes have also been discovered along fault corridors intercepting gabbro. High grade gold mineralisation (at surface) has been associated with gabbro/metasediment contact zones (tectonic). Refer table 3 (see link below) for detail on historical rock chip results.

Area A (see image 6 in link below)

Prospecting activities have exposed a set of massive sulphide pipes in metasediments. The gabbro intrusion appears to be truncated by a regionally extensive southwest trending fault corridor. Rock chip results include up to:

- 6.01% Cu, 1.47% Ni, 1.6 g/t PGM and 0.49% Co

Area B (see image 6 in link below)

Trenching with grab sampling has highlighted strong base metal mineralisation with PGM's along the basal zone to a gabbro intrusion. Wide widths of gossan have been exposed (10m in width). Grab sampling has returned up to:

- 1.61% Cu, 0.49% Ni, 1.1% Co, 1.64 g/t Au, 1.64 g/t Pt and 1.58 g/t Pd.

Area C (see image 6 in link below)

Grab sampling and petrography has identified a 2.5km zone of strong base metal and precious metal anomalism associated with an inferred gabbroic feeder. Grab sampling has returned up to:

- 0.59% Cu, 0.16% Ni, 524.3 g/t Au, 0.45% Co, 0.64 g/t Pt, 1.18 g/t Pd.

The grab sampling results are considered very significant as the average disseminated sulphide percentage for the gabbroic rock chips was approximately 5% indicating the sulphide is well endowed with base and precious metals.

During 2006, airborne TEM (AeroTEM) was conducted in Area C on 100m line spacing. Numerous conductors correlating with the inferred feeder dyke trend and associated anomalous geochemistry were identified and a IP survey was planned, however, it was not completed. In general, the three zones of interest have not had ground TEM or subsequent drilling.

Rumble Exploration Strategy

Rumble considers both the Long Lake and Panache projects as very prospective for high grade Ni - Cu deposits

No deep penetrating ground TEM has been conducted over the main targets of interest which include:

Long Lake Project

- North-south and northwest trending Sudbury breccia/quartz diorite outcrops which have been interpreted as "offset dykes".

Panache Project

- All three target areas strong Ni - Cu - PGM geochemistry with supporting petrography.

Next Steps

- Rumble plans to conduct a deep penetrating ground TEM survey over these targets with the aim of generating high order conductors for subsequent diamond drill testing.

Key Commercial Terms of the Long Lake and Panache Binding Option Agreements

Rumble has signed an option agreement and agreed to enter a joint venture agreement to acquire 100% of the title and interest in the Long Lake and Panache Projects from the vendor Gordon Salo on the below terms:

Long Lake Project - 100%

a. Rumble to pay Cad$20,000 Cash and 200,000 RTR ordinary shares on exercising the option agreement.

b. Rumble to spend a minimum of Cad$50,000 in expenditure in first 12 months.

c. Rumble to make payment of Cad$20,000 Cash and 200,000 RTR ordinary shares before the 12 month period ends.

d. Rumble will need to spend a minimum of Cad$50,000 in expenditure in the second 12 month period.

e. Rumble to make payment of Cad$30,000 Cash and 300,000 RTR ordinary shares before the 24 month period ends.

f. Rumble will need to spend a minimum of Cad$50,000 in expenditure in the third 12 month period.

g. Rumble to make final payment of Cad$70,000 Cash and 2,000,000 RTR ordinary shares before the 36 month period ends, to earn 100%.

h. Gordon Salo is free carried to decision to mine.

i. Following a decision to mine, Rumble will pay a 3% NSR to Gordon Salo. Rumble can secure 1% NSR buy back for cash payment of Cad$1,500,000 to Gordon Salo. Rumble can secure a further 1% NSR buyback for Cad$1,500,000 to Gordon Salo.

Panache Project - 100%

a. Rumble to pay Cad$20,000 Cash and 200,000 RTR ordinary shares on exercising the option agreement.

b. Rumble will also need to spend a minimum of Cad$50,000 in expenditure in first 12 months.

c. Rumble to make payment of Cad$20,000 Cash and 200,000 RTR ordinary shares before the 12 month period ends.

d. Rumble will need to spend a minimum of Cad$50,000 in expenditure in the second 12 month period.

e. Rumble to make payment of Cad$30,000 Cash and 300,000 RTR ordinary shares before the 24 month period ends.

f. Rumble will need to spend a minimum of Cad$50,000 in expenditure in the third 12 month period.

g. Rumble to make final payment of Cad$70,000 Cash and 2,000,000 RTR ordinary shares before the 36 month period ends to earn 100%.

h. Gordon Salo is free carried to decision to mine.

i. Following a decision to mine, Rumble will pay a 3% NSR to Gordon Salo. Rumble can secure 1%NSR buy back for cash payment of Cad$1,500,000 to Gordon Salo. Rumble can secure a further 1% NSR buyback for Cad$1,500,000 to Gordon Salo.

Upon completing minimum expenditure for each period, Rumble can walk away from the Agreements at any time without further obligation.

To view tables and images, please visit:
http://abnnewswire.net/lnk/F5ID1T89 

Shane Sikora
Managing Director
Email: enquiries@rumbleresources.com.au
Phone: +61-8-6555-3980
Website: www.rumbleresources.com.au
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WiseTech Global Ltd (ASX:WTC) Acquires Leading Spanish Customs Solutions Provider, Taric

August 8, 2018, 4:39 pm
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WiseTech Global (ASX:WTC) (OTCMKTS:WTCHF) today announced the acquisition of Taric, a leading customs management solutions provider in Spain.

Headquartered in Madrid, Taric offers a range of customs management solutions, including regulatory and tariff services, consultancy, training, process control and documentation management solutions to carriers, customs brokers, logistics providers, multinationals, and public institutions. Taric's customers include GEODIS, DB Schenker, DSV, XPO Logistics, Daimler-Benz, Grupo Correos, UPS, the European Commission, and many other logistics providers and organisations.

WiseTech Global's Founder and CEO, Richard White, said "Strengthening our presence across manufactured global trade routes is a central part of our growth strategy and Spain is a key European market for us. In joining the WiseTech Global family, the powerhouse Taric team bring Spanish customs capability, and tariff and regulatory expertise across Europe where its customs classification services have been widely used. With its strong track-record of bringing together highly specialised expertise in cross border trade operations, and developing innovative software solutions, Taric is a good fit for WiseTech Global.

"Together we will expand our footprint in Spain and Europe and our future development in Spanish-speaking Latin America to deliver high-productivity customs management solutions that improve our customers' operations in key trade flows. This acquisition brings strategic value to the WiseTech group as the Taric team can also accelerate the European development of our global BorderWise solution and extend customs and compliance capabilities for our recent acquisitions of leading freight forwarding solution providers, Forward and Softcargo, who together cover 16 countries in Latin America."

Taric's co-founder and Managing Director, Guillermo Salafranca, said "Having provided customs management solutions and consultancy for over 30 years to what is a very dynamic trading region, we're looking forward to taking this significant step forward for Taric. We are excited to join WiseTech, a company with strong global innovation capabilities, which will help us scale up our customs management solutions in Europe and globally."

Remaining under the leadership of Guillermo Salafranca, and co-founder and Technical Director, Enrique Miret, Taric's operations will be integrated within the WiseTech group and Taric will continue to deliver its customs software solutions directly to its own customers, along with WiseTech's flagship platform, CargoWise One.

CargoWise One enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, ecommerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.

This transaction follows WiseTech's other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Taiwan, Turkey, and Uruguay, and is in line with WiseTech Global's clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.

About Taric

Since 1987, Taric has been a leading provider of customs management solutions, specializing in regulatory and tariff services, consultancy, training, process control and documentation management solutions, to carriers, freight forwarders, customs brokers, logistics providers, multinationals and public institutions. Taric's customers include GEODIS, DB Schenker, DSV, XPO Logistics, Daimler-Benz, Grupo Correos, UPS, the European Commission, and many other logistics providers and organisations.

Headquartered in Madrid, Taric has a team of over 75 people, together providing considerable customs and technical expertise.

For more information about Taric, visit http://www.taric.es 

Media
Piers Shervington
T: +61-2-8001-2200
E: piers.shervington@wisetechglobal.com
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The Betmakers Holdings Limited (ASX:TBH) Revised Transaction Structure to Acquire DynamicOdds

August 8, 2018, 4:40 pm
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The Board of The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("BetMakers", "TBH" or the "Company") is pleased to provide an update regarding the acquisition of DynamicOdds Pty Ltd ("DynamicOdds"). As announced on the 14th of June 2018, TBH entered into a conditional binding heads of agreement ("Heads of Agreement") to acquire 100% of the shares in the betting tools and data company, DynamicOdds, and the associated license brands ("Assets") owned by DynamicOdds' related party, C.D.K Software Limited ("CDK") (dynamicodds.com.au). At the request of CDK, the parties have agreed to revise the terms of the Heads of Agreement so that, rather than just purchasing the Assets, TBH will now acquire 100% of the shares in CDK (including the Assets owned by CDK).

Highlights

- $2.5M of the total consideration payable as completion payment in cash by 31 August 2018 (inclusive of $150k non-refundable deposit already paid), with transfer of shares upon receipt of funds.

- Deferred payment of $4.5M of the total consideration payable to CDK in cash by 30 June 2019.

- Additional performance payments between $0 - $3M may be payable to CDK dependent on first 12 months EBIT.

- Dynamic Odds current staff to continue in the business for a minimum 3 years under an agreed Services Agreement

The Parties have now executed a share sale agreement in respect of the purchase of 100% of the shares in DynamicOdds ("DO Shares") and a share sale agreement in respect of the purchase of 100% of the shares in CDK ("CDK Shares").

The BetMakers CEO, Todd Buckingham, commented: "This is a great result to finalise the DynamicOdds agreement including a long-term services agreement with the key employees. The team have done an amazing job with the business and we look forward to working with them under the BetMakers group."

DynamicOdds CTO, Karl Begg, responded: "We are very pleased to be working with the BetMakers group in the next phase of our business. With the acquisition of both DynamicOdds and Global Betting Services, BetMakers is set to become the key player in the industry both in Australia and globally."

Key Terms of the Revised Transaction

TBH has agreed to purchase the DO Shares and the CDK Shares on the following key revised terms:

1. on 1 August 2018, TBH paid to the shareholders of DO ("DO Shareholders") a non-refundable deposit of AUD$150,000. Previously TBH was required to pay the full AUD$1.5m at completion of the transaction;

2. on 31 August 2018 ("Completion"), TBH must pay a total of $2.35m made up from:

a. AUD $1.35m in cash to the DO Shareholders in consideration for the acquisition of the DO Shares; and

b. AUD $1m in cash to the shareholder of CDK ("CDK Shareholder") in consideration for the acquisition of the CDK Shares;

3. Completion is conditional upon the satisfaction or waiver of the following conditions precedent:

a. the parties executing the:

i. share sale agreement in respect of the sale of the DO Shares to TBH;

ii. share sale agreement in respect of the sale of the CDK Shares to TBH; and

iii. services/management agreement for the provision of management services to DynamicOdds ("Services Agreement");

b. the DO Shareholders transferring certain motor vehicles to an entity other than DO;

c. the DO Shareholders and the CDK Shareholder procuring repayment of any loans or indebtedness due by them (or their associates) to DO and CDK (respectively); and

d. the DO Shares and the CDK Shares being free of any encumbrances;

4. On 30 June 2019 ("Deferred Payment Date"), TBH must pay to the CDK Shareholder AUD$4.5m in cash ("CDK Deferred Payment");

5. On 31 October 2019 ("Performance Payment Date"), TBH must pay to the CDK Shareholder a performance payment ("CDK Performance Payment") to be calculated as at 31 August 2019 ("Calculation Date") as follows:

a. if the operating profit of DynamicOdds (calculated as earnings before interest and taxes) ("EBIT") for the period from 1 September 2018 to the Calculation Date ("Performance Period") is less than AUD$1.25m, the CDK Performance Payment will be nil;

b. if the EBIT for the Performance Period is equal to or greater than AUD$1.25m but less than AUD$1.5m, the CDK Performance Payment will be AUD$1.5m; or

c. if the EBIT for the Performance Period is equal to or greater than AUD$1.5m, the CDK Performance Payment will be AUD$3m;

6. TBH has the discretion to pay the CDK Performance Payment to the CDK Shareholder in cash, via the issue of ordinary shares in the capital of TBH ("TBH Shares") or a combination of both. If any or all of the CDK Performance Payment is paid in TBH Shares, the TBH Shares will be valued at the greater of:

a. the 15-day VWAP immediately prior to the Performance Payment Date; and

b. AUD$0.10 per TBH Share;*

*Subject to the CDK Shareholder (or nominee) not having a relevant interest in more than 19.99% of the total issued share capital of TBH.

7. if TBH wishes to sell the DO Shares or the CDK Shares before the Performance Payment Date , TBH must first offer those shares for sale to the DO Shareholders and the CDK Shareholder (respectively) and, in any event, TBH cannot transfer the DO Shares or the CDK Shares before the Performance Payment Date ("Pre-emptive Rights Provisions");

8. if TBH fails to discharge the CDK Deferred Payment or the CDK Performance Payment by the Deferred Payment Date or the Performance Payment Date (respectively), or breaches the Pre-emptive Rights Provisions, TBH must transfer the DO Shares and the CDK Shares back to the DO Shareholders and the CDK Shareholder (respectively) and shall not be entitled to any refund of the amounts paid in respect of DO Shares and the CDK Shares to date;

9. Dynamic IT Group Pty Ltd ("Dynamic IT") (or its nominee) will no longer be issued 10m unquoted options over TBH Shares on Completion;

10. under the Services Agreement, Dynamic IT will provide system management and development, and accounts administration services ("Services") to DynamicOdds for a period of 3 years from Completion ("Term") for a total fee of AUD$500,000 (plus GST) per annum ("Fee");

11. DynamicOdds must not engage any contractor other than Dynamic IT to provide the Services during the Term, unless a related body corporate of DynamicOdds. If DynamicOdds engages another contractor as permitted, Dynamic IT must still be paid the Fee; and

12. the Services Agreement may be terminated by mutual consent, upon 3 months' notice in writing by either party or for cause.

Update to GBS transaction

Further to the announcement released on 18 July 2018, TBH advises that its wholly-owned subsidiary, BetMakers DNA Pty Ltd ("BetMakers DNA") is currently progressing its due diligence investigations in respect of Global Betting Services Pty Ltd ("GBS") and GBS's parent company ("Parent"), which is a condition precedent to completion of the sale of 100% of the shares in the Parent ("Shares") to BetMakers DNA.

The parties are also currently renegotiating the composition of the purchase price of the Shares ("Purchase Price"), including restructuring the ability for the Purchase Price to be paid in cash and/or ordinary shares in TBH. For the avoidance of doubt, the total value of the Purchase Price, being $10million, will not change.

TBH will update the market of any material changes in accordance with its continuous disclosure obligations. 

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

Jane Morgan
Investor & Media Relations
E: investors@thebetmakers.com
M: +61-405-555-618
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Environmental Clean Technologies Ltd (ASX:ECT) Contract Signed for $1.3 Million Supply Contract in Victoria

August 8, 2018, 7:36 pm
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Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) is pleased to announce the signing of a binding contract for the sale of Coldry solid fuel in the Victorian market via the provision of a turnkey solution for steam services.

Key points:

- 5-year supply contract for Coldry solid fuel to support delivery of process steam via an existing solid fuel boiler system.

- Provision of operating and maintenance service package in partnership with Australia's leading 'process steam' system operator, Mecrus.

- Prime example of one of ECT's core pillars of its long-term revenue model.

Following on from previous announcements outlining the Company's upgrades to its Coldry High Volume Test Facility (HVTF) northwest of Melbourne and subsequent trials of Coldry solid fuel with several potential customers (6 February 2018 & 29 June 2018), the Company has today signed a contract with a large food manufacturer in Gippsland, southeast Victoria.

Key Terms

Value: $1.3 million

Term: 5 years

Fuel: Coldry solid fuel

Services: Operate & maintain boiler system to deliver operational steam requirements

The contract summarises the agreement between the parties to deliver steam required by the customer's operations and will be followed by a three-month construction and services commissioning phase which aims to establish the baseline steam demand, assess the efficiency gains from planned upgrades and maintain and monitor subsequent steady state of operations. If ECT is unable to deliver the expected steam demand during the trial period then GBP can cancel the contract, although the company does not foresee this to be an expected outcome.

ECT Chairman Mr Glenn Fozard commented, "This is another positive step for ECT in the local market and is the culmination of business development and engineering activity over several months.

"The driver behind the client's adoption of Coldry lies in our close engagement and development of a packaged, turnkey solution to deliver steam. We've taken the time to understand and quantify the current operational profile of their boiler system, against which we were able to test and benchmark our Coldry solid fuel test product.

"The cost-effectiveness of Coldry solid fuel coupled with our turnkey approach to the provision of equipment, operations and maintenance, fuel and finance, where needed, presents a compelling business case.

"Lead-in analysis indicates we may be able to deliver potential savings of 15% per annum for our client.

"This packaged, turnkey approach is also designed to help mitigate further energy price shocks by locking in a stable monthly fee over five years."

ECT COO Jim Blackburn commented, "Regarding the Company's broader local market business development strategy, we're currently working with several other potential customers on a similar basis and look forward to establishing further sales in due course.

"We understand shareholders would like to know who the potential customers are, how much Coldry they may buy and at what price. Would-be competitors would also like to know similar details. As such, it is not in shareholders' best interests to disclose potential customers before executing sales contracts. Further, it is not in the Company's best interests to disclose per-tonne pricing, as that may prejudice other sales negotiations."

"This local market business model, entailing the provision of packaged solutions has a two-fold benefit. From the customer's point of view, it solves one of their significant operational 'pain points' via a holistic service offering. From our point of view, vertical integration allows us to maximise operational efficiency and control costs."

Business Case for the Coldry Solid Fuel Turnkey Solution

Fully integrated boiler and steam package offers the following key features and benefits:

Feature: Multi-feedstock fuel systems

Benefit to customer: Diversified fuel supply options: With the high efficiency of Coldry solid fuel, systems are also able to blend a broader range of fuels including biofuels (such as pyrethrum briquettes and woodchip) and other similar solid fuels, where feasible and available, diversifying supply options

Feature: Bespoke fuel handling systems

Benefit to customer: Lower maintenance cost and more efficient fuel handling

Feature: Guaranteed steam supply

Benefit to customer: Allows customers to focus resources on their core business

Feature: 5-year price freeze of production of steam

Benefit to customer: Cost control: Steam production costs typically 10%-15% cheaper than individual or single-stream service models of fuel supply, boiler operations and maintenance

Feature: Boiler equipment, systems and programming designed for the highest available efficiency

Benefit to customer: Lower capital, operating and maintenance costs

Feature: Single monthly price for the service, including any capital upgrades and installations

Benefit to customer: Cost control

Coldry is the ideal solid fuel

- Coldry is a lower cost, lower emission, brown coal-based solid fuel with high energy and volatile rating.

- Coldry performs well as a high performance standalone solid fuel or in a blend to improve the efficiency of other biomass fuels such as woodchip, pyrethrum, sawdust and crop stubble.

- Coldry can also be infused with anti-fouling agents to counteract some of the boiler performance issues experienced when using certain biomass feedstock (like pyrethrum, crop stubble and bagasse).

- Coldry can be tailored specifically to suit the application, from highly dense briquettes to our higher-porosity 'baseline' pellet. The objective is to expend as little energy as required to produce the right product for the application. This benefit is passed on to the customer in the form of improved fuel combustion and increased boiler efficiency.

- Coldry is sourced from local, abundant brown coal supplies and features a consistent specification. Supply agreements in place with Energy Australia (Yallourn) and Maddingley Brown Coal (Bacchus Marsh) ensure long-term access to supply.

The Coldry High Volume Test Facility (HVTF)

The Coldry processing facility in Bacchus Marsh has been in place since 2007 and has undergone significant upgrades over the past two years with a focus on increased scale testing of its R&D operations. As a consequence of this activity, the facility currently has ~10,000 tonnes per annum of available test product capacity which it is seeking to sell into long-term contracts. With further capital upgrades, the plant will be able to extend capacity by a further 25,000 tonnes per annum.

Expert Partnerships

ECT has partnered with Mecrus, Australia's leading provider of steam package solutions for boiler applications and is also engaged with boiler manufacturers (including John Thompson boilers). These strategic partnerships allow us to offer compelling steam and boiler packages. ECT non-executive director Barry Richards is the Managing Director of Mecrus.

Background

Given the level of interest received to date, the Company is confident a sustainable local market exists for a solid fuel to supply energy-intensive industries impacted by rising energy costs.

In parallel to the activity at the HVTF, the Company continues to develop its feasibility study for the establishment of a large-scale Coldry demonstration plant in Victoria's Latrobe Valley.

Importantly, the proposed large-scale Coldry demonstration plant will leverage existing resources and infrastructure, with site selection at Yallourn power station announced on 15 November 2017.

It is envisaged that the Victorian demonstration plant will be designed to an output capacity of ~170,000 tonnes per annum and will feature a zero CO2 footprint, having no direct emissions.

In support of ongoing R&D for the India project and future projects like the Victorian demonstration plant, the HVTF is targeting an output capacity of up to 35,000 tonnes per annum.

The HVTF is solely an R&D facility and continuous production up to 35,000 tonnes per annum will continue to add to the testing of key features of both Coldry and Matmor in areas such as:

1. Pellet integrity

2. Blended additives

3. Drying temperatures and residence times

4. Airflow through the packed bed dryer

5. Process improvements and equipment re-design

All product sold will be done so under the "Feedstock Rules" of the R&D tax incentive legislation.

Solid Fuel Market

The Victorian industrial energy market is defined by the price and availability of appropriate energy sources. Until 2014, brown coal briquettes dominated the local market, followed by gas and biomass. The closure of the Morwell brown coal briquette plant in 2014 saw many businesses switch to gas and biomass. The price of gas has since doubled or tripled for many businesses. Availability of biomass is variable, reducing the reliability of supply. Biomass typically has a lower energy density, and its ash contains elements that foul boiler systems, resulting in lower efficiency and increased downtime for maintenance.

Coldry solid fuel is an ideal fuel for businesses requiring large volumes of process heat.

Further, Coldry doesn't conflict with the Victorian government's renewable energy target, as neither wind nor solar are suitable for generating reliable, affordable process heat to such industries.

In this respect, the Company is competing directly with the availability and price of natural gas and biomass alternatives, which given the current supply-demand profile, looks like remaining high and possibly escalating, well into the future.

Beyond supplying energy-intensive industries such as agriculture, the Company sees potential to grow its Coldry capacity in Victoria over time to support any number of potentially high-value applications, including:

- High-efficiency, low-emission (HELE) power generation to deliver reliable, affordable electricity

- Hydrogen production

- Upgraded coal products such as activated carbon, PCI (pulverised coal injection) coal, and hydrocarbon liquids and gases.

These high-value applications can generate jobs and improve productivity while bringing down the emissions intensity of Victoria's world-class brown coal resource.

The Company will continue to provide further updates on the above activities as they progress.

Building Solid Foundations for ECT's long-term revenue model

This contract gives shareholders an understanding of one of the core pillars of the Company's long-term revenue model.

Following many months of engagement by the Company with a range of potential customers, it is apparent that the market for utility-scale steam and hot water is in desperate need of a solution that can deliver capital upgrades and fuel solutions that are reliable and economical. At present, no other companies are offering fully integrated steam and boiler solutions to Victorian and Tasmanian customers.

Over the coming months, the Company aims to establish further contracts of this type while developing key relationships to improve the quality and pace of outcomes, including:

1. Plant & equipment: Boiler manufacturers able to design boiler packages bespoke to Coldry as the primary fuel source

2. Finance: partners able to support a zero-capital outlay solution for new boiler system upgrades

3. Operations & maintenance: Staff with the essential skills to support boiler construction, operations and maintenance

ECT Chairman Glenn Fozard commented, "Local businesses reliant on steam generation have been suffering terribly from skyrocketing gas prices and a shortage of reliable alternative fuels, resulting in an energy affordability and reliability crisis. This uncertainty is impacting the viability of many businesses. It also means ageing infrastructure is not being replaced as companies are reluctant to outlay capital on new equipment without viable fuel alternatives. ECT solves the problem of price volatility, fuel reliability and capital outlay and allows these companies to focus on their core business while we take care of their utility energy needs".

As advised in previous announcements, ECT will be providing greater detail on its revenue model in the coming weeks.

About Coldry

When applied to lignite and some sub-bituminous coals, the Coldry beneficiation process produces a black coal equivalent (BCE) in the form of pellets. Coldry pellets have equal or superior energy value to many black coals and produce lower CO2 emissions than raw lignite.

About MATMOR

The MATMOR process has the potential to revolutionise primary iron making.

MATMOR is a simple, low cost, low emission production technology, utilising the patented MATMOR retort, which enables the use of cheaper feedstocks to produce primary iron.

About the India R&D Project

The India project is aimed at advancing the Company's Coldry and Matmor technologies to demonstration and pilot scale, respectively, on the path to commercial deployment.

ECT has partnered with NLC India Limited and NMDC Limited to jointly fund and execute the project.

NLC India Limited is India's national lignite authority, largest lignite miner and largest lignite-based electricity generator.

NMDC Limited is India's national iron ore authority. 

Glenn Fozard
Chairman
Environmental Clean Technologies Ltd
E: info@ectltd.com.au
WWW: www.ectltd.com.au
↧

Lake Resources NL (ASX:LKE) Kachi Drilling Advances with Consistent Results

August 8, 2018, 7:48 pm
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Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) has extended drilling activities with results reinforcing the large scale and quality of its 100%- owned Kachi Lithium Brine Project in Catamarca Province.

- Drilling continues to confirm the large scale and quality of the Kachi Lithium Brine Project - a major discovery of a similar size to globally significant lithium producers.

- Drilling advances with consistent results at Kachi supporting the preparation of a maiden resource statement, anticipated in October, over a partially covered salt lake 22 x 8 kilometres with potential to increase further.

- Results show brines returning 250-276 mg/L lithium over 42 metres (358 - 400m) in drillhole K03R12 with best results from K03R03 averaging 306mg/L lithium

- Brines extend from near surface to at least 400 metres depth consistently, with low impurities and low average Mg/Li ratio of 4.3, a ratio similar to large Argentine projects of Galaxy and Neo Lithium.

- Drilling continues in the western sector of the project area with a diamond drillhole at Platform K02 and a rotary drillhole K08.

Lithium brine is present in sandy sediments from near surface to over 400m depth in more than 14 rotary and diamond drill holes spaced over 15km across the project. Drilling and seismic geophysical surveying also confirms Kachi is a large-scale partially covered salt lake over an area of at least 22 x 8 kilometres.

Recent drill results returned 250-276 mg/L lithium over 42 metres in drillhole K03R12. Best results to date are 306 mg/L lithium over 239 metres (3 - 242m) from hole K03R03 indicating consistent brine chemistry throughout the stratigraphic profile. To date the lithium brines analysed show positive chemistry with low combined impurities (boron, sulphate, calcium, magnesium, iron). Sediments indicate high porosities and permeabilities, with confirmation anticipated soon from core used for porosity assessment.

The drilling advances towards an initial resource estimate, anticipated in October, with a further hole planned prior to final estimation. The western area of the basin is being targeted at present for this estimation. A number of sample results are pending from recent drilling, and regular updates will be provided as drilling progresses.

Resource Drilling - Kachi Lithium Brine Project

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

Drilling is currently underway at two new locations (platform K02 and 08). Table 1 (see link below) provides drill hole location details and lithium results which are averaged where multiple samples have been taken at a single interval.

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

Analytical results for lithium to date have been highest in drill-hole K03R03 (northern area). Brine samples in this hole display encouraging densities with a favourable Mg/Li ratio of 4.3. This area is a key target for ongoing investigation. Figure 2 (see link below) shows an extensive area with potentially very deep lake sediments in the vicinity of K03 that is yet to be investigated.

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

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

To view tables and figures, please visit:
http://abnnewswire.net/lnk/HD4US4O1 

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