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Alligator Energy Ltd (ASX:AGE) announces Arnhem Land drilling update and further high grade Ni Co Cu Au assays at Piedmont Project.
Arnhem Land Drilling
- Two holes completed into Cahill Formation beneath unconformity - strong alteration in TCRD18-001 and graphite evident in TCRD18-002;
- No anomalous scintillometer indications of uranium as yet;
- Uranium price hits US$27 per lb, up more than 30% in 12 months.
Piedmont Ni Co project
- Range of significant grades from sampling of 0.49 to 2.24% Ni, 0.02 to 0.19% Co, 0.12 to 6.38% Cu and 0.6 to 60.8g/t Au;
- Significant Ni Co results in the Laghetto - La Balma 2-3 km trend provide infill continuity;
- Unexpected high grade Cu from Castilo di Gavala southern licence;
- First assays from historic Gula prospect reveal Au potential with two grab samples in excess of 40g/t Au;
- Magnetometer trial surveys completed and being processed.
Significant geochemical rock chip sample assays include:
Laghetto North: Sample P18-S102 - 1.73% Ni, 0.09% Co, 0.43% Cu
Castilo di Gavala: Sample P18-S176 - 1.31% Ni, 0.04% Co, 0.87% Cu
Sample P18-S177 - 6.38% Cu, 0.75% Ni, 1.39g/t Au
La Balma: Sample P18-S131 - 2.24% Ni, 0.19% Co, 0.09% Cu
La Balma SE: Sample P18-S121 - 1.21% Ni, 0.09% Co, 0.11% Cu
Sample P18-S122 - 0.86% Ni, 0.06% Co, 0.18% Cu
Gula: Sample P18-S160 - 0.93% Cu
Sample P18-S170 - 60.8g/t Au, 0.38% Cu
Sample P18-S159 - 41.5g/t Au
Vallar: Sample P18-S109 - 10.45g/t Au
AGE's CEO Greg Hall commented today: "The drilling in Arnhem Land was initially slow but has now picked up. Two holes have been completed with unconformity depth and underlying Cahill Formation drilled as anticipated. No anomalous scintillometer readings have as yet been observed, however strong alteration consistent with historical uranium intersections have been identified. Downhole lithological and structural data is being utilised to revise the continued drilling
The Piedmont results are very exciting and add further support to the Laghetto-La Balma mineralised trend through the confirmation of infill Ni-Co occurrences along strike. The exceptional polymetallic results at Castilo di Gavala confirm the credentials of this exciting new project, further supported by the anomalous high Au values identified at Gula".
Arnhem Land uranium drilling initial update
Alligator advised on 4 September the commencement of its Alligator Rivers Uranium Province (ARUP) drilling program, targeting its advanced TCC4 uranium prospect. Two holes of the planned program have been completed to date with a third currently in progress.
The two holes completed on Line 3 (refer Figure 1 in link below) have confirmed the unconformity depth at approximately 180m down hole depth. The underlying Cahill Formation was then intersected as anticipated and continued to depth in both holes. While no anomalous counts per second (CPS) have been observed through hand held scintillometer readings as yet, TCRD18-001 had significant alteration near the base of the sandstone, and moderate chlorite alteration / chlorite schists in the Cahill. The second hole TCRD18-002 exhibited some graphitic shears and schists in the Cahill. Both the chlorite alteration and graphite have been associated with either historical uranium intersections or deposits.
Alligator is updating its modelled cross sections with lithology and stratigraphic information as it proceeds, which will assist to inform and adjust immediate future drilling. The RC drilling of the pre-collar on hole TCRD18-003 is now underway.
The spot price of uranium has reached US$27 per lb as of 12 September, up more than 30% in 12 months. This fairly continuous price improvement can likely be attributed to Cameco's earlier announcement of its indefinite suspension of uranium production at McArthur River Mine - the largest uranium mine in the world - combined with suppressed production by other producers. Along with this, there is also approximately 10GW nuclear power (about 2.5 to 3% pa) being added to the global nuclear power base annually through new reactor construction.
Piedmont Project, northern Italy - Final batch of sample assay results
Alligator Energy Limited (Alligator or the Company) is pleased to announce the release of the second and final batch of assay results received from its detailed on-ground geochemical sampling and mapping work at its Piedmont nickel-cobalt-copper project in northern Italy. Piedmont is a farm-in/joint venture project with Chris Reindler and Partners (CRP) (ASX Announcement: 1 February 2018).
From May to July 2018, AGE's exploration team completed substantial on-ground geological and structural mapping, along with extensive geochemical sampling and a ground-based magnetometer survey around historical mines and other prospective sites within the project area.
Alligator, along with our Farm-in and JV partner CRP, will evaluate the effectiveness of the ground magnetometer data and assimilate this with the geochemical data and regional interpretation to establish the best way to advance this Province scale opportunity through further ground work, geophysics and drilling. Due to recent changes in Italian mining law, an environmental survey is required prior to drilling and hence this will most likely delay a drilling program into the European Spring of 2019.
Piedmont Geological Setting and Exploration progress
Figure 2 (see link below) shows the location of Alligator's interest in the Piedmont Project tenements, including those granted which are part of the CRP Farm-in and Joint Venture arrangement, those under application either in the Farm-in or directly applied for by Alligator.
A review of historical results and technical papers, combined with on-ground observation, indicate the region is a major gabbroic mafic complex, with sub-volcanic layered intrusive structures leading down to depth. The region of interest appears to extend some 30kms in length, by 2 to 3kms wide. From previous work, the dominant sulphide mineral is pyrrhotite, with minor amounts of pentlandite and chalcopyrite.
Phase one exploration work has included the collection of 167 surface rock chip samples from within the current licence areas, of which the remaining 90 surface sample assay results have now been received. A further 5 samples have been collected for petrographic studies to determine mineral types within the samples, which will assist with the selection of future possible processing techniques.
Of the 167 samples collected to date, 159 are located within the Alpe Laghetto licence area. Figure 3 (see link below) above shows the distribution of all samples collected to date and Figure 4 in link below shows the distribution of samples from the second batch of assay results over the Alpe Laghetto licence area plotted by Ni %. Three prospects have returned results >1% Ni within this second batch of results, being Laghetto North, La Balma and La Balma SE.
The Laghetto-La Balma trend has produced further exciting results through infill sampling highlighting a more continuous trend than first anticipated. High grade Ni results from the Laghetto North (1.73% Ni) and La Balma SE (1.21% Ni) prospects have shown Ni Co mineralisation extending between the two recognised historic prospects. This adds greater continuity to the mineralisation trend through on-ground identification of further mineralised outcrops infilling the previously identified 2-3km trend. Further structural and geological similarities have been observed at these new prospects and correlations can now be drawn through existing magnetic geophysics conducted simultaneously with the 2015 EM survey undertaken by Nyota, with processing undertaken by AGE. Future work will continue to determine the level of continuity and structural setting within these mineral lenses.
First sample results from Castilo di Gavala in the southern-most EL (refer Figure 3 in link below) show the potential of "pipe" style mineralisation in the region with exceptionally high Cu-Ni grades returned in sample P18-S177 of 6.38% Cu and 0.74% Ni. This is supported by a second grab sample P18-S176 returning 1.31% Ni and 0.87% Cu. Additionally, moderate Co and Au credentials occur at the prospect returning 0.04% Co and 1.39g/t Au also. And with just two samples collected to date further sampling is highly anticipated.
Another new prospect sampled during this phase was the historic Gula mine (see Figure 3 and 4 in link below). Sampling at the Gula prospect has returned highly anomalous Au in conjunction with a moderate Cu occurrence. Sample P18-S170 represents the stand out result, returning 60.8g/t Au and 0.38% Cu. This is supported by 41.4g/t Au and 0.93% Cu in samples P18-S159 and P18-S160 respectively. Sampling highlights can be seen below in Table 1:(see link below)
Six samples have been taken on the Cani licence area at Vallar, to the north of the Laghetto licence (refer Figure 3 in link below). The Cani licence and Vallar prospect represent a small Au prospect with several small historic mines. Initial reconnaissance of this licence area identified three of these historic mines and six samples were collected from the historic Vallar mine. The highlight of this sampling being 10.45g/t Au in P18-S109.
The location of all samples can be seen above in Figure 3 (see link below) which provides an overview of all sampling and identified mineral occurrences.
Samples were selected on a geological basis and collected as grab samples in a non-systematic nature as part of a reconnaissance mapping program around historic nickel prospects and mines within the AGE/CRP tenure. Sampling was completed using a geopick, with locations recorded utilising a hand held GPS. The program was designed to be representative of the variety of rock types and sulphide levels observed in the project area. Results are comparable to the previously unverified historic mining grades of the district and provide encouragement that, along with identification of lateral and depth continuation, potential exists for economic discoveries to be made within the district.
From May to July 2018, AGE's exploration team completed substantial on-ground geological and structural mapping, along with extensive geochemical sampling and a ground-based magnetometer survey around historical mines and other prospective sites within the project area. The magnetometer survey results will be processed and interpreted in the coming weeks.
Alligator, along with our Farm-in and JV partner CRP, will evaluate the effectiveness of the ground magnetometer data and assimilate this with the geochemical data and regional interpretation to establish the best way to advance this Province scale opportunity through further ground work, geophysics and drilling.
Note that due to changes this year in Italian mining law, an environmental survey is required prior to drilling and hence this will most likely delay a drilling program into the European Spring of 2019.
The Piedmont Project is located within an historic mining district with cobalt, nickel and copper mining taking place from the late 1800's to the end of WWII. Cobalt production grades of over 0.2% and nickel grades of over 2% were recorded as historic mine grade estimates within the Project area.
Alligator considers the Piedmont project prospective for Fe-Ni-Cu-Co massive sulphide deposits in gabbroic and mafic rocks. Previous work on the metallogenesis of the Hercynian orogeny of the Alps completed by Omenetto and Brigo in 1974 drew strong similarities with Sudbury type ores regarding the sulphide assemblages. Bigioggero et al. 1979 made a division of the deposits within the project area based on the metal association and geological settings, these categories were:
1) Mineralisation in layers of the cyclic units, proximal to metasediments
2) Mineralisation in layers of the main gabbro
3) Mineralisation in pipes
Alligator are exploring for all 3 mineralisation types. Virtually no modern exploration has been completed within the district, until a recent EM survey highlighted targets proximal to historic workings.
Piedmont Project Deal Structure
Alligator entered a Binding Heads of Agreement with CRP on January 31st to earn into the Piedmont Cobalt Nickel project (see AGE ASX Press Release 1 Feb 2018). In summary, Alligator's farm-in agreement comprises:
- Up front payments in shares and cash;
- A total of $650,000 to achieve 51% project ownership from completing both the Phase 1 and 2 Work Programs; and
- Option to increase ownership to 70% through a further $1.25 million program of work
Alligator and CRP have agreed to collaborate on other Ni, Co, Cu opportunities within Italy as deemed suitable to both parties.
Alligator has now completed the establishment of an Italian company AGE EV Metals S.r.L. This company is a fully owned subsidiary of Alligator and will contain the targeted 51% interest in the Piedmont Project (when earned) plus other EL's and applications which may be obtained. The Company has been considering additional opportunities within the region and recently announced the application for two further exploration permits (ASX Announcement: 23 August 2018).
To view tables and figures, please visit:
Mr Greg Hall Executive Director and CEO Alligator Energy Ltd Email: email@example.com Mr Mike Meintjes Company Secretary Alligator Energy Ltd Email: firstname.lastname@example.org
Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to release its prospectus for the partially underwritten non-renounceable entitlement issue of shares to raise approximately $1.16 million before costs (Entitlement Issue). As announced on 10 September 2018, the Entitlement Issue is partially underwritten by existing sophisticated investors of the Company namely Hishenk Pty Ltd, Reefpeak Pty Ltd, Mishki Pty Ltd, Scintilla Strategic Investments Limited, alongside officers of the Company namely Chris Noone, Adrian Bunter and Karen Logan (Underwriters).
The Entitlement Issue will be offered to shareholders registered at the Record Date (as defined below) with a registered address in Australia and New Zealand (Eligible Shareholders) on the basis of one (1) New Share for every eight (8) Share held. Eligible Shareholders must have purchased shares in Collaborate before the Ex date of 20 September in order to be entitled to participate in the Entitlement Issue.
The funds raised from the Entitlement Issue are planned to be principally used to provide funding for customer acquisition, support the launch of new initiatives and for working capital and general corporate purposes. Additionally, the proceeds will be used to cover costs of the Entitlement Issue.
The timetable for the Entitlement Issue is as follows:
14 September 2018
Lodgement of Prospectus with the ASIC
Lodgement of Prospectus and Appendix 3B with ASX
Notice sent to Option holders
19 September 2018
Notice sent to Shareholders
20 September 2018
21 September 2018
Record Date for determining Entitlements
24 September 2018
Prospectus sent out to Shareholders and Company announces this
has been completed
15 October 2018
16 October 2018
Shares quoted on a deferred settlement basis
17 October 2018
ASX notified of under subscriptions
22 October 2018
Issue date/Shares entered into Shareholders' security holdings
23 October 2018
Quotation of Shares issued under the Offer
All dates, other than the date of lodgement of the Prospectus with ASIC, are indicative only.
The Company reserves the right to amend any of the important dates without prior notice but subject to the Corporations Act and ASX Listing Rules.
Collaborate encourages Eligible Shareholders to participate in the Entitlement Issue. Officers of the Company will take up their full entitlement and have further underwritten additional amounts under the offer.
Collaborate Corporation Limited Tel: +61-2-8889-3641 E: email@example.com W: www.collaboratecorp.com
As announced on 10 September 2018 Collaborate Corporation Limited (ACN 066 153 982) (the Company or Collaborate) is undertaking a 1:8 non-renounceable entitlement issue (Entitlement Issue or Offer) of approximately 77,389,732 fully paid ordinary shares (New Share) to raise approximately $1,160,846. The price of New Shares under the Offer is $0.015 each (Issue Price).
The Entitlement Issue will be offered to shareholders registered at the Entitlement Record Date (as defined below) with a registered address in Australia or New Zealand (Eligible Shareholders) on the basis of one (1) New Share for every eight (8) Shares held.
Collaborate has announced the record date of 5:00pm (AEST) on 21 September 2018 for the purposes of determining shareholders entitled to participate in the Entitlement Issue (Entitlement Record Date). A prospectus containing full details of the Entitlement Issue was lodged with ASIC and ASX on 14 September 2018 and will be despatched to all Eligible Shareholders on 24 September 2018. The Prospectus will be available on the ASX website (company announcements section, ASX code: CL8).
Under the terms of the options you currently hold, there is no entitlement to participate in the Entitlement Issue, unless you exercise your options and are entered onto the register as an Eligible Shareholder on or before the Entitlement Record Date. Under the terms of your options you are entitled to receive notice of the record date set for the purposes of determining entitlements to any new issue of capital. The purpose of this letter is to give you that notice in order to permit you to participate in the Entitlement Issue, should you wish to do so.
If you are not a shareholder and wish to participate in the Entitlement Issue, or if you are already a shareholder but also wish to participate in the Entitlement Issue in respect of your option holdings, it will be necessary for you to exercise all or part of your options, and the shares in respect of those options must have been issued to you before the Entitlement Record Date. If you wish to do so, you should complete a Notice of Exercise of Options and lodge it with the Company, together with your payment for the number of options you wish to exercise. If the Notice of Exercise of Options together with payment in full for the relevant number of options being exercised is not received by 21 September 2018, you will not be able to participate in the Entitlement Issue in respect of the shares to be issued upon exercise of those options.
If you do not wish to participate in the Entitlement Issue (in respect of your options), you do not need to take any action.
This letter is only intended to inform you of your rights in relation to your options. This letter is not an offer or an invitation to acquire shares in Collaborate or to participate in the Entitlement Issue.
If you require further information, please contact the Company Secretary on + 61 2 8889 3641 between 8:30 am and 5:00 pm AEST or via email at firstname.lastname@example.org.
Collaborate Corporation Limited Tel: +61-2-8889-3641 E: email@example.com W: www.collaboratecorp.com
Goldfields Money Limited (ASX:GMY) ("Goldfields Money" or the "Company") is pleased to announce that the Finsure Transaction is expected to complete today.
As part of the Finsure Transaction, 40,750,000 Goldfields Money shares will be issued to Finsure shareholders and 15,385,000 Goldfields Money shares will be issued to international and local institutional and professional investors as part of a ~$20.0 million placement (refer ASX announcement of 4 September 2018). The Company is also pleased to confirm the receipt of APRA's confirmation that the Treasurer's approval conditions for the acquisition have now been met. Further announcements will be made once the new Goldfields Money shares have been issued under the Finsure Transaction and placement.
Goldfields Money CEO Simon Lyons said this is an exciting time in the Company's history and is looking forward to pursing the growth opportunities that are available to the merged group.
"We welcome new Goldfields Money shareholders to our register and look forward to growing the business for the benefit of new and existing shareholders alike," Mr Lyons said.
If you require assistance, you can call the Goldfields Money Shareholder information line on 1300 308 375 (within Australia) or +61 8 6314 6314 (outside Australia) at any time between 9:00am and 5:00pm (AWST) on Monday to Friday.
Investor / Media Enquiries Simon Lyons Executive Director & CEO Goldfields Money Ph: +61-8-9438-8810 Andrew Rowell Director - Investor Relations Cannings Purple M: +61-400-466-226
MMJ PhytoTech Limited (ASX:MMJ) ("MMJ") is pleased to note the recent interview given by Pat McCutcheon, CEO of MediPharm Labs, Inc. ("MediPharm"), providing a business update ahead of MediPharm's imminent listing on the TSX Venture Exchange.
The interview can be viewed at:
MMJ owns 6.9% of MediPharm.
Investor and Media Enquiries Jason Conroy Chief Executive Officer firstname.lastname@example.org
Mustang Resources Ltd (ASX:MUS) (FRA:GGY) (OTCMKTS:MTTGF) Presentation: Developing the world class Caula Vanadium Graphite Project
Focused on the mining and exploration of 'New Energy Minerals', critical commodities for the lithium and vanadium battery markets, next generation steel and fire-resistant building materials
Mustang is fast-tracking the world-class Caula Vanadium-Graphite project with first cash flows targeted for H2 of 2019
Mustang's Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @ 0.37% V205 (0.2% cut-off) and 13.4% TGC (8% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite
High grade intersections of up to 1.9% V205 and 29% TGC
Simple and robust fully integrated processing flowsheet developed to deliver both graphite and vanadium products
Highly experienced board of directors and management team with a proven track record in developing profitable projects in Mozambique and Africa in general
Mustang to change its name to 'New Energy Minerals (ASX:NXE)' (subject to shareholder approval at 2 October 2018 EGM)
To view the presentation, please visit:
Managing Director: Mustang Resources Limited Bernard Olivier E: email@example.com M: +61-4-08948-182 T: +27-66-4702-979 Media & Investor Relations: Jane Morgan Management Jane Morgan E: firstname.lastname@example.org T: +61-405-555-618
Lithium Power International Limited (ASX:LPI)(FRA:24L) ("LPI" or "the Company") through its JV Company, Minera Salar Blanco ("MSB"), advises that it has submitted the Environmental Impact Assessment Report ("EIA") for the Maricunga Lithium Brine Project (the "Project") to the Chilean Environmental Authority, Servicio de Evaluación Ambiental ("SEA").
- Major milestone achieved with the submission of the Maricunga Project's Environmental Impact Assessment ("EIA") to the Chilean Environmental Authority, Servicio de Evaluación Ambiental ("SEA"), after more than 2 years of preparation.
- During the EIA evaluation process, priorities will shift to secure finance for the Project and off-take agreements for the high-purity lithium carbonate output.
- The Project will provide significant economic and social benefits for Chile and the Atacama Region. The Company expects to continue working closely with the Chilean authorities and contribute to strengthen the country's position on the global lithium industry.
- The EIA submission follows completion of a Resource Report and Preliminary Economic Assessment ("PEA") in 2017 and granting of a Nuclear Commission ("CCHEN") permit in 2018.
- The Definitive Feasibility Study ("DFS") is expected to be finalised and released by the end of 2018 which will continue to demonstrate the outstanding value of the Maricunga Project.
The EIA is the culmination of more than two years of exhaustive work. The process involved in-depth data gathering, a variety of environmental and engineering studies and monitoring campaigns carried out by experienced company management and consulting experts, including MWH-Stantec, WorleyParsons and Flo Solutions.
The result is a comprehensive 11,400-page document, which includes complete environmental baseline studies, hydrological and hydrogeological modelling, human, archaeological and fauna and flora characterisation, and impact evaluation.
The EIA also included a lengthy process of social engagement with the Colla indigenous communities in the area. In addition, significant consultation took place with regional authorities and local organisations, which are all interested parties in the EIA process.
The EIA under Chilean law, requires the SEA to provide within 40 days of submission a notification of any major deficiencies. These include, but are not limited to, observations, comments, requests for clarification and/or modification, before advancing to the formal assessment process. Final approval of the EIA is expected to be obtained by the end of 2019 once the SEA has comprehensively reviewed each section of the EIA. The Company would expect to receive a construction sanction decision as early as the first quarter of 2020.
The EIA submission follows the JORC Resource Report, NI 43-101 and Preliminary Economic Assessment ("PEA"), which were completed in 2017, as well as the Nuclear Commission ("CCHEN") permit obtained in 2018. These documents demonstrated robust economics for the Project.
The Maricunga Definitive Feasibility Study ("DFS") is being prepared by WorleyParsons and is expected to be finalised and released by the end of December 2018. Remaining activities on reserve modelling, as well as engineering for the production plants being executed by GEA Messo in Germany, are also near completion. This confirms the Maricunga Project as one of the most advanced pre-production lithium brine projects in Chile and in South America.
In addition, discussions have commenced with major Chilean and international institutions to finalise a letter of intent during the second half of 2019 for financing the Project. International companies have also approached both LPI and MSB regarding off-take agreements and future participations. Discussions will continue in parallel with the finalisation of the development activities of the Project.
MSB's CEO & newly appointed LPI Non-Executive Director, Mr Cristobal Garcia-Huidobro, said:
The EIA assessment is an extremely involved and time-consuming process. We took a position to commit to extra studies and comprehensive reviews to ensure that the EIA submitted was of the highest standard possible. The critically important and extremely technically complicated hydrological and hydrogeological modelling has provided us with very positive outcomes, which are documented in the EIA and will also be included in the DFS to be released by the end of the year. Social engagement with the local communities has enabled the Project development to be welcomed in the Maricunga area, and we anticipate positive outcomes from the EIA review process.
LPI's Chairman, David Hannon, said:
As the majority shareholder in Minera Salar Blanco, LPI is delighted with the quality of the Report produced by MSB's team. LPI's independent discussions with the Company's legal advisors commended the quality of the Report. Completion of a 11,400-page EIA Report of this standard is no small feat and we acknowledge and thank Cristobal Garcia-Huidobro and his team for their diligent work. The submission of the EIA further demonstrates the advanced development and the outstanding value of the Project and constitutes a key step for the Company on its way to become one of the global suppliers for the lithium industry. The submission of the EIA will further attract interested parties to engage in an off-take and funding relationship as we move further ahead in the development of the Project.
Contributing Specialist Consultants
There are many rigorous technical studies which serve as references to the EIA. These have been conducted by carefully selected and well-known international experts. Lithium Power International Ltd and Minera Salar Blanco S.A are appreciative of the efforts of its internal management team and the following independent consultants who prepared and contributed to the EIA.
David R Hannon Chairman or Andrew Phillips CFO / Company Secretary Lithium Power International E: email@example.com P: +612 9276 1245 www.lithiumpowerinternational.com
GOLDFUND (CRYPTO:GFUN) today announces the release of the GOLDFund Web Wallet enabling transactions between Bitcoin, physical Gold and the GFUN coin.
- Capital Support into Proven Un-mined Gold Reserves.
- Payback from precious metal production.
- Exposure limited to participants in a Regulated and Audited marketplace.
- A guaranteed discount on Gold Purchases made with GFUN coins.
- Liquidity of GFUN coins on Cryptocurrency Exchanges. (December 1)
With GOLDFund you can trade the GFUN coins, exchange Bitcoin for GFUN coins and use GFUN coins to purchase discount Gold from our precious metals producers.
GOLDFund provides a tri-cyclic liquidity mechanism to ensure liquidity of the GFUN coins both "on-chain" and "off-chain".
GOLDFund is affiliated with Revolution Metals Ltd, other near term gold producers and ZOMIA Gold Direct, where Gold can be purchased.
Expressions of interest are invited from near term Gold producers to participate in the GOLDFund ecosystem.
Download the Whitepaper here in Chinese, Japanese, Korean and English:
GOLDFund W: www.goldfund.io T: +61-2-8205-7340
Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the commencement of a high-resolution helicopter-borne electromagnetic survey (HEM) using NRG's Xcite(TM) Airborne Electromagnetic System over the southeast of its 100% owned Greenbushes Volcanogenic Massive Sulphide Base Metals Project, Western Australia (see Fig. 1 in link below).
The HEM Xcite(TM) survey(see note 1) will be flown by New Resolution Geophysics (NRG(TM)) and is expected to be completed in September.
- Large untested aeromagnetic high within Venus tenements, located along strike of Venture Minerals Limited's recent Thor VMS-style discovery(see note 2) to the southwest.
- Anomalous Cu and Zn in soil and a gravity high based on historical company reports(see note 4) coincide with an aeromagnetic high located in the Venus tenement on strike from Venture Minerals' recently announced VMS trend.
Venus Metals Managing Director Matthew Hogan comments: "We are extremely confident that the geological setting on the Company's Greenbushes tenement may be conducive to hosting VMS-style base metals mineralization similar to that announced and confirmed by Venture Minerals. Our current geophysical survey is designed to identify potential drill targets in this highly prospective terrain."
The Greenbushes East Project comprises exploration licences 70/4810 and 4814, 100% owned by Venus and located in the Balingup Metamorphic Belt. The tenement area is southeast of Talison Lithium's world-class Greenbushes Lithium-Tantalum mine, and Li-Ta exploration has been the focus of Venus' exploration activities to date.
In recent weeks, Venture Minerals Ltd (Venture) released exploration results from its exploration program on ground adjoining that of Venus. Venture reported that drilling had intersected a 17m zone of disseminated, semi- massive and massive sulphides with core samples containing up to 0.3% zinc and 0.2% copper (VMS ASX release 8 August 2018)(see note 2, 3) at its Thor discovery. Currently, Venture Minerals is conducting a Heli-borne EM survey on their tenements directly southwest and abutting Venus ground (VMS ASX release 30 August 2018).
The Thor prospect is located along a prominent aeromagnetic trend that extends northeast into Venus' tenement area. On Venus' E70/4810, the aeromagnetic signature shows significant thickening and structural complexity in terrain dominated by quartz-feldsparbiotite gneiss with units of quartz-mica schist, quartzite, banded iron formation and ultramafic rocks.
Geochemical data from open file (Wamex) company data(see note 4) shows anomalous Cu and Zn concentrations in surface sample media, and a reported gravity high broadly coincident with the aeromagnetic anomaly. Combined, this information is considered highly promising and warrants further investigation. The use of a high-resolution helicopter-borne electromagnetic (HEM) survey using NRG's Xcite(TM) Airborne Electromagnetic system is an effective and cost-efficient means for exploring Venus' tenements, targeting potential semimassive to massive sulphide bodies that may host copper-zinc mineralization.
1. NRG Company profile pdf. www.airbornegeophysics.com
2. VMS ASX release dated 30 August 2018. Major EM Survey to Commence at the Thor VMS Prospect, Southwest of Western Australia.
3. VMS ASX release dated 8 August 2018. Drilling intersects massive sulfides at Thor confirming VMS system, Southwest of Western Australia.
4. Amerod Holdings Pty Ltd, 2008. Bridgetown Combined Annual Report C37/2009. Wamex report A79877.
The term 'Exploration Target' should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2012), and therefore the terms have not been used in this context.
To view figures, please visit:
Matthew Hogan Managing Director T: +61-8-9321-7541 Barry Fehlberg Executive Exploration Director T: +61-8-9321-7541
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce that it has been selected by the Danish Special Operations Command to participate in the Night Hawk 2018 exercise held at the Aalborg Airbase in Denmark, with DroneShield deploying its system there on 19-21 September.
- DroneShield selected by Danish Special Operations Command to Participate in Night Hawk 2018 Exercise held at the Aalborg Airbase in Denmark.
- Collaboration with Special Operations Command End Users.
Night Hawk 2018 is a major NATO annual military training exercise, with approximately 1,800 personnel from 10 NATO countries taking part.
DroneShield will be deploying its DroneSentryTM integrated detect and defeat counterdrone system at the event, and is the only company invited to deploy such system at the exercise.
Oleg Vornik, DroneShield's CEO, commented "As the DroneShield systems are gathering momentum with the European end users, we are very pleased to have this opportunity to demonstrate our system to the Danish Special Forces, one of most sophisticated Special Operations Command end users globally, at this high profile military exercise."
To view pictures, please visit:
Oleg Vornik CEO and Managing Director Email: firstname.lastname@example.org Tel: +61 2 9995 7280
The Board of The BetMakers Holdings Limited (ASX:TBH)(OTCMKTS:TPBTF) ("Company") is pleased to announce that yesterday, 17 September 2018, its wholly-owned subsidiary, BetMakers DNA Pty Ltd took ownership of 100% of the shares in global wagering service provider, Global Betting Services Pty Ltd ("GBS").
Further details of the transaction can be found in the announcements released by the Company on 18 July 2018 and 29 August 2018.
Charly Duffy Company Secretary E: email@example.com M: + 61-409-083-780 Jane Morgan Investor & Media Relations E: firstname.lastname@example.org M: +61-405-555-618
Kingston Resources Limited (ASX:KSN) is pleased to report auger results from ongoing regional exploration at its flagship Misima Gold Project in PNG.
- Auger sampling defines gold anomaly over 400m long, open along strike
- Auger values up to 4.18g/t Au
- Historic underground adits assaying up to 8.45g/t Au
The auger program, undertaken over the Ara Creek prospect (Figure One in link below), has defined a gold anomaly more than 400m long and open along strike, with individual auger samples assaying up to 4.18g/t Au. Kingston's field team has also identified and surveyed five historic underground adits within the prospect area, rock chip samples from the entrances to these adits returned values as high as 8.45g/t Au.
The Ara Creek prospect, was identified by a review of historic work completed during the early stages of Placer Mines' exploration in the area, reinforced by structural work Kingston completed earlier in 2018.
The prospect is located within the Misima North area on the interpreted northern continuation of the Umuna Fault Zone (UFZ). The southern end of the UFZ hosts the bulk of the current 2.8Moz Misima JORC Resource1. The northern extension is relatively under-explored, despite having similar scale to the historic Umuna area, with well over 3km of prospective shear, historic underground workings, and strong geochemical indicators.
Kingston's Managing Director Andrew Corbett commented:
"These auger and rock chip values again highlight the vast and immediate exploration upside that exists across Misima.
We are only just scratching the surface in terms of exploration at Misima and it is becoming clear that there are still multiple zones and new areas across the island that remain undiscovered. The potential of our total project area is just starting to be realised.
With rock chip sampling, trenching, auger drilling and diamond drilling, we expect ongoing results across the coming months."
The Ara Creek assay results are significant for a number of reasons:
- The area was a focus for historic underground mining pre-WW2;
- It sits roughly in the middle of the Misima North region, 2.5km north of the Umuna pit and 2.2km from the north coast at Siagara village, straddling the Umuna Fault Zone in an area interpreted to be a flexure in the strike of the shear; and
- Exploration by Placer identified significant surface mineralisation in soil and channel sampling between 1992 and 1994.
Ara Creek was prioritised by Kingston after a systematic review of all available data. Reports of mineralisation in the area from as far back as 1939 provide an indication of the area's potential, and this information is supported by conventional soil sampling completed by Misima Mines in 1992, channel sampling in 1993-94, and a number of historic drill holes. Drilling results included intersections such as 10m @ 3.20g/t Au from surface in MNR515 and 12m @ 2.05g/t from surface in MNR889. Mapping by Misima Mines also shows a subtle right-hand flexure in the shear, making it an ideal structural position for mineralising fluids.
The recent auger program has confirmed the presence of significant gold anomalism at surface on the east side of the Umuna Shear, however none of the historic drilling has properly tested the shear itself. Kingston intends to continue sampling and mapping the prospect to fully determine the extent of surface mineralisation, with a view to drill testing in 2019.
To view, please visit:
Kingston Resources Limited T: +61-2-8021-7492 E: email@example.com WWW: www.kingstonresources.com.au
Mithril Resources Ltd (ASX:MTH) is pleased to advise that multiple targets have been prioritised for follow-up on its new 100% - owned Bangemall Base Metal Project ("Bangemall"). Bangemall is located west of Galena Mining Limited's Abra Deposit within a similar geological setting approximately 250 kms north west of Meekatharra, WA - Figure 1 in link below.
- New 100% - owned project west of the Abra Lead Silver Deposit which covers interpreted western extension of the large regional scale structure that controls mineralisation at Abra
- Prospectivity highlighted by airborne EM (GEOTEM) anomalies with overlapping anomalous surface geochemistry, and / or zones of copper and zinc in historic drill holes
- Strengthens the Company's exploration portfolio which includes the Kurnalpi Nickel Project, Billy Hills Zinc Project, and the Limestone Well Vanadium Joint Venture
The Project (EL's 09/2315 and 52/3644 - 710km2) covers the interpreted western extension of the Lyons River Fault Zone, a large regional scale structure that controls mineralisation at Abra 100 kms to the east, within an area of similar Proterozoic sediments that host the Abra deposit (Figure 2).
A 2012 JORC Code Compliant Indicated and Inferred Resource of 36.6Mt @ 7.3% lead, 18g/t silver has been recently estimated for the Abra Deposit (see ASX Announcement by Galena Mining Limited dated 14 March 2018).
At Bangemall, Mithril is targeting large scale copper, lead and zinc deposits and has now identified multiple targets that are typically characterised by airborne EM (GEOTEM) anomalies with overlapping or adjacent anomalous surface geochemistry, and / or zones of copper and zinc mineralisation within historic drill holes.
Of note is the Belang Bore target on EL52/3644 where a large (~5 kms x 5 kms) barium, manganese, cobalt and lead stream sediment anomaly overlies several late time GEOTEM anomalies. Belang Bore lies within an area of shallow cover and these targets have not been previously drill tested (Figures 3 to 4).
The geochemical association seen at Belang Bore is consistent with that typically seen above large scale sedimentary exhalative ("SEDEX") base metal deposits globally.
The potential of the Project to host a large base metal deposit is reinforced by historic surface rock chip sampling and wide spaced drilling undertaken on EL09/2315, some of which has returned strong indications of copper and zinc mineralisation, see Tables 2 - 3, and Figure 5 in link below;
- Rock chip samples with individual assay values up to 17.5% copper, 2.4% lead, 3.70% zinc, and 120ppm silver
- Drilling - 48m @ 0.27% zinc from 54 metres in ISBD1, 5m @ 0.59% zinc from 130 metres in ISBD2, 21m @ 0.35% zinc from 315 metres in ISBD3 and 10m @ 0.68% zinc from 34m in RC99MC06.
Bangemall considerably strengthens Mithril's exploration portfolio which comprises the Kurnalpi Nickel Project (confirmed nickel sulphides and a new copper-cobalt target), the Billy Hills Zinc Project (priority targets identified adjacent the historic Pillara Zinc Mine), and the Limestone Well Vanadium Joint Venture (where Monax Mining Ltd can earn up to 80% by spending $2.5M over 5 years).
Mithril will continue with target generation activities on the Project ahead of tenement grant which is expected early next year.
To view tables and figures, please visit:
Mithril Resources Ltd David Hutton Managing Director E: firstname.lastname@example.org T: +61-8-8132-8800 F: +61-8-8132-8899 www.mithrilresources.com.au
High grade assay results from the first six diamond drill holes completed at Impact Minerals Limited's (ASX:IPT)(OTCMKTS:IPPTF) 100% owned Commonwealth Project located 100 km north of Orange in New South Wales, have confirmed significant extensions to the mineralisation at both the Main Shaft and Silica Hill Prospects and importantly have identified a second massive sulphide body below Main Shaft.
- Assays from the first four diamond drill holes at Main Shaft confirm significant extensions to near the surface, high grade massive sulphide unit both along trend and at depth:
Hole 084 has returned: 5.7 metres at 3.8 g/t gold, 347 g/t silver, 10.8% zinc and 3.7% lead from 52.1 metres down hole; including 0.7 metres at 15.6 g/t gold, 245 g/t silver, 8.6% zinc and 1.9% lead; and 0.5 metres at 4.9 g/t gold, 917 g/t silver, 10.2% zinc and 4.6% lead from 56.9 metres.
Hole 082 has returned: 4 metres at 3.3 g/t gold 129 g/t silver, 7% zinc and 1.9% lead from 96.4 metres down hole; including 2.1 metres at 5.1 g/t gold, 239 g/t silver, 12.8% zinc and 3.5% lead.
Hole 083 has returned: 2.6 metres at 7.9 g/t gold, 164 g/t silver, 5.3% zinc and 3.1% lead from 96.9 metres down hole.
Hole 085 has returned 1.7 metres at 1.8 g/t gold 72 g/t silver 1.5% zinc 0.5% lead from 49.3 metres down hole in a historically poorly drilled area within 30 metres of surface.
- In addition Hole 083 intersected a narrow high grade massive sulphide unit about 30 metres below the Main Shaft unit and confirms the discovery of a second massive sulphide unit that is at least 100 metres by 150 metres in dimension and is untested at depth.
The second massive sulphide unit returned: 1 metre at 3.1 g/t gold, 57 g/t silver, 9.4% zinc and 4.3% lead from 143 metres down hole; including 0.3 metres at 0.8 g/t gold, 150 g/t silver, 30.2% zinc and 13.6% lead.
- Assays from two diamond drill holes at Silica Hill confirm extensions to gold and silver mineralisation for 200 metres to the east. Mineralisation open down plunge.
- Assays from two diamond holes at Commonwealth South still to be received.
- All data will be incorporated into a resource upgrade in Quarter 1 2019 with further drilling planned.
- Sale of Pilbara gold project to Pacton Gold Inc completed with receipt of remaining CAD$325,000 cash and issue of 2,125,000 shares (current value $750,000).
The mineralisation at both Prospects is still open along trend and at depth and further drilling is required. In addition an update to the resource model will be completed by Q1 2019.
Main Shaft Massive Sulphide Unit
At Main Shaft four diamond drill holes were completed to test for extensions at depth and along trend from the previously identified gold and silver-rich massive sulphide lens1.
All four holes intersected varying widths of massive and/or semi-massive sulphide mineralisation at the upper eastern contact of the Commonwealth porphyry. The second massive sulphide unit, which was intersected in one hole in this programme, lies immediately below the lower western contact of the Commonwealth porphyry (Figures 1 and 2 in link below). The other 3 holes did not penetrate to the lower contact.
Drill hole locations are shown in Figure 1 (see link) and other details are given in the tables at the end of this report.
Hole CMIPT084 was drilled 15 metres north of the massive sulphide lens2,3 and intersected 5.7 metres true width of massive sulphide from 52.1 metres down hole at the hanging wall contact of the Commonwealth porphyry unit (Figures 1 and 2). Figure 3 shows the pyrite-rich and sphalerite-rich styles of mineralisation for comparison.
Hole 84 has returned: 5.7 metres at 3.8 g/t gold, 347 g/t silver, 10.8% zinc and 3.7% lead from 52.1 metres down hole; including 0.7 metres at 15.6 g/t gold, 245 g/t silver, 8.6% zinc and 1.9% lead from 52.5 metres; and 0.5 metres at 4.9 g/t gold 917 g/t silver 10.2% zinc and 4.6% lead from 56.9 metres down hole.
This has extended the massive sulphide lens at Main Shaft for 15 to 20 metres along trend to the north and importantly for any future mining operation, the mineralisation is within 30 metres of surface.
Hole CMIPT082 was drilled 20 metres down dip from previous high grade drill intercepts3 and intersected two metres true width of semi-massive sulphide with surrounding disseminated sulphide (Figure 2).
Hole 082 has returned: 4 metres at 3.3 g/t gold, 129 g/t silver, 7% zinc and 1.9% lead from 96.4 metres down hole; including 2.1 metres at 5.1 g/t gold, 239 g/t silver, 12.8% zinc and 3.5% lead from 98 m down hole.
Hole CMIPT083 was drilled 20 metres along trend from Hole 082 and intersected 2.6 metres true width of semi-massive sulphide.
Hole 083 has returned: 2.6 metres at 7.9 g/t gold, 164 g/t silver, 5.3% zinc and 3.1% lead from 96.9 metres down hole.
Importantly, these intercepts all indicate the upper massive sulphide unit at Main Shaft extends from surface to a depth of about 100 metres and is still open below and to the south (Figures 1 and 2).
Hole CMIPT085 was drilled in an area of little drilling about 70 metres along trend to the south of the massive sulphide lens at Main Shaft (Figure 1). This hole intersected 1.5 metres true width of brecciated massive sulphide and is the first indication of massive sulphide in this area. This is encouraging as it suggests there is potential here for further near surface mineralisation.
Hole 085 has returned 1.7 metres at 1.8 g/t gold, 72 g/t silver, 1.5% zinc and 0.5% lead from 49.3 metres down hole.
Second Massive Sulphide Unit
In addition to the intercept of the massive sulphide unit at Main Shaft, Hole CMIPT083 also intersected a 20 metre thick zone of alteration and patchy sulphide mineralisation from 130 metres down hole below the Commonwealth porphyry (Figure 2).
Within the zone is a one metre thick zone of brecciated massive sulphide comprised mostly of sphalerite with patches of chalcopyrite (Figure 4).
In this zone Hole 083 returned: 1 metre at 3.1 g/t gold, 57 g/t silver, 9.4% zinc, 4.3% lead and 0.3% copper from 143 metres down hole. This includes a narrow zone of massive high grade sphalerite which returned 0.3 metres at 0.8 g/t gold, 150 g/t silver, 30.2% zinc and 13.6% lead.
The massive sulphide unit is the first confirmed presence of a high grade gold-rich massive sulphide unit below the Commonwealth porphyry. It occurs within a copper-rich mineralised horizon that is up to 50 metres thick and has been intersected in 12 previous drill holes.
The previous drill holes contain higher grade intercepts in places which are interpreted to be along-trend continuations of Hole 083.
For example Hole CMIPT006 returned 31 metres at 0.13% copper and 5 g/t silver including 1 metre at 1% copper, 1.1% zinc, 0.4% lead, 34 g/t silver and 0.4 g/t gold; and Hole CMIPT050 returned 49 metres at 0.1% copper including 0.8 metres at 2.5% copper, 4% zinc, 0.5% lead, 39 g/t silver and 0.2 g/t gold.2,3,4
The results suggest the massive sulphide unit is increasing in grade, gold content and potentially thickness with depth (Figure 2).
All of this indicates significant exploration potential for another thicker massive sulphide unit down plunge and below the level of current drilling (Figures 1 and 2).
At Silica Hill two diamond drill holes were completed to test down dip and along-trend extensions to the previously discovered high grade gold and silver mineralisation4,5.
Hole CMIPT081 was drilled 65 metres along trend from previous high grade drill intercepts4,5 and intersected an eight metre thick true width zone of disseminated and wispy bands of up to 20% pyrite in places from 202 metres down hole. A stronger mineralised zone about five metres thick was intersected from 212 metres down hole.
Hole 081 has returned: 5.5 metres at 1.3 g/t gold and 170 g/t silver from 212 metres down hole including 0.5 metres at 2.5 g/t gold and 773 g/t silver.
Hole CMIPT080 was drilled 125 metres along trend from Hole 081 and intersected a 24 metre thick true width zone of patchy to pervasive silica-sericite-sulphide alteration with disseminated and narrow veins of pyrite with trace pathfinder metals arsenic, zinc and lead from 317 metres down hole. This includes a 0.5 metre thick quartz sulphide vein with visible silver minerals at 317.5 metres down hole.
Hole 080 returned a broad alteration zone of 93 metres at 0.04 g/t gold and 3 g/t silver with a narrow zone of 0.6 metres at 0.6 g/t gold and 48 g/t silver.
Both of these holes demonstrate a continuation of the Silica Hill mineralised system for at least 200 metres along trend. However the zone is narrower than previous drill holes to the west (Figure 1).
The mineralisation is open at depth, in particular to the west, and this is a key target for follow up drilling. The mineralisation at Silica Hill is still open in all directions and further deeper drilling is required.
DISCUSSION AND NEXT STEPS
All of these results indicate the potential to increase the Inferred Resources at Commonwealth both for the overall resource, which extends from Main Shaft to Commonweath South, and for the higher grade massive sulphide resource within it, at Main Shaft (Figure 1).
The Inferred Resource was prepared in accordance with the JORC 2012 Code by independent resource consultants Optiro2. At a 0.5 g/t gold cut off the entire Inferred Resource is:
720,000 tonnes at 2.8 g/t gold, 48 g/t silver, 1.5% zinc, 0.6% lead and 0.1% copper.
The resource extends from surface to an average depth of 90 metres, has a strike length of 400 metres and is up to 25 metres thick.
A separate Inferred Resource (included within the overall resource) was also calculated for the massive sulphide lens at Main Shaft alone to demonstrate the high grade nature of such deposits that are the principal target for Impact's exploration programme. The Main Shaft Inferred Resource is:
145,000 tonnes at 4.3 g/t gold, 142 g/t silver, 4.8% zinc, 1.7% lead and 0.2% copper.
Assays from two further drill holes completed at the Commonwealth South prospect, located 400 metres south of Main Shaft where previous drilling returned an intercept of 7 metres at 25.5 g/t gold, 62 g/t silver, 3.8% zinc and 1.6% lead in Hole CMIPT0176, are expected within two weeks.
Upon receipt of the final assays a detailed synthesis and interpretation of all data collected will be commenced with a view to a resource upgrade by Q1 2019. This will include a maiden resource estimate for Silica Hill.
In addition further drilling is required at all prospects. Impact will look to drill these areas early in 2019.
COMPLETION OF SALE OF PILBARA GOLD PROJECT TO PACTON GOLD INC
The Share Sale Agreement for sale of Impact's Pilbara gold project to Pacton Gold Incorporated as announced to the ASX on May 29th 2018 has now been Completed.
Under the terms of the Share Sale Agreement, Pacton has purchased a 100% ownership interest in Impact's wholly owned subsidiary Drummond East Pty Limited which holds seven 100% owned granted Exploration Licences in the Pilbara region of Western Australia (E45/4971-72-73; E46/1171-72; and E46/1188-89).
The total consideration paid by Pacton to Impact for the purchase was CAD$350,000 and 2,125,000 common shares of Pacton. All funds have been received and the shares have now been issued to Impact with Drummond East Pty Limited now a wholly owned subsidiary of Pacton.
Impact is focusing its exploration for conglomerate-hosted gold at the Blackridge Project located 30 km north of Clermont in central Queensland where Impact has an option to acquire 95% of an advanced project with previous production of about 185,000 ounces of gold from small shafts and related underground workings.
In addition Impact has an adjacent 100% owned application for an Exploration Licence and together the project area covers 23 kilometres of strike and 37 square kilometres of prospective basal conglomerate of Permian age.
Further details on the production and previous exploration at Blackridge were reported to the ASX on May 29th 2018 and a review and synthesis of previous exploration data at Blackridge is on-going. Once complete, areas will be selected for detailed mapping and bulk sampling.
To view tables and figures, please visit:
Dr Michael G Jones Managing Director Impact Minerals Limited T: +61-8-6454-6666 E: email@example.com
Cardinal Resources Limited (ASX:CDV) (TSE:CDV) ("Cardinal" or "the Company") is pleased to announce the results of its Preliminary Feasibility Study ("PFS") for the Namdini Gold Project ("Namdini") in Ghana, West Africa.
- 4.76 million ounces from 129.6 Mt @ 1.14 g/t Au at 0.5 g/t cut-off Maiden Probable Ore Reserve estimate
- US$ 1,105/oz gold price used to provide a Life of Mine (LOM) optimised pit converting 73% of the 6.5Moz Indicated Mineral Resource to Probable Ore Reserves
- US$ 1,250 gold price financial model generated a 38% Post-Tax Internal Rate of Return (IRR)
- US$ 599/oz all-in sustaining costs (AISC) for the first 2.5 years inclusive of 1.8-year payback period
- US$ 414M (down from US$ 426M) Capital development cost for the 9.5 Mtpa throughput plant
- 1.06 Moz at 1.31 g/t Au and strip ratio of 0.5 to 1 (waste to ore) for first 2.5 years of production (Starter Pit)
- 86% Metallurgical recovery for Starter Pit and 84% for LOM with ongoing optimisation testwork
Comments from Archie Koimtsidis, Managing Director and Chief Executive Officer:
"We now have a compelling Business Case to move into the Definitive Feasibility Study (DFS) phase for the 9.5 Mtpa throughput processing facility based upon the optimum Return On Capital Employed (ROCE). The Feasibility Study (FS) is fully funded and will form the basis for the development of our Namdini Project in Ghana with completion anticipated in Q3 2019.
The PFS study confirms the Namdini Project as one of Ghana's and Africa's most promising undeveloped, large gold assets. The financial modelling of the project shows it to be technically sound and financially viable and could generate US$ 1.4 billion free cash flow (pre-tax) utilising the 9.5 Mtpa throughput model."
To view tables and figures, please visit:
Archie Koimtsidis CEO / MD Cardinal Resources Limited P: +61-8-6558-0573 Alec Rowlands IR / Corp Dev Cardinal Resources Limited P: +1-647-256-1922 Bettina Filippone Renmark Financial Communications Inc E: firstname.lastname@example.org P: +1-416-644-2020 or +1-514-939-3989
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) provides the 2018 Annual Report including audited financial statements for the year ended 30 June 2018.
Deep Yellow Limited (Deep Yellow or the Company) is an advanced stage uranium exploration company with a clear growth strategy to establish a multi-project global uranium development platform. Led by Paladin Energy founder John Borshoff, Deep Yellow has the expertise and capability to achieve its strategy during a countercyclical period for uranium investment.
The Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
Deep Yellow holds four key contiguous Exclusive Prospecting Licences (EPLs) covering 1,590km2 within the heart of what is a world recognised, prospective uranium province of high significance. The tenements are strategically located amongst the major uranium mines of this region - 20km south of the Husab/Rössing deposits and 40km southwest of the Langer Heinrich deposit.
Deep Yellow has a two-pronged growth strategy involving the growing of its existing uranium resources in Namibia and has already made a significant new discovery called Tumas 3 in March 2017 following up with a revised resource expanded by 32% in July 2018. In parallel, the Company will pursue accretive, counter-cyclical acquisitions to create a multi-project uranium platform.
HIGHLIGHTS OF THE 2018 FINANCIAL YEAR
Key achievements in the Company are as follows:
- The Tumas 3 uranium discovery made on the 100% owned Reptile Project achieved a maiden Inferred Resource of 23.4Mlb grading 382ppm eU3O8.
- Continued drilling of paleochannels extended the uranium mineralisation at Tumas 3 and confirmed the highly prospective nature of the palaeochannels, 85km of which remain to be properly tested.
- The joint venture on the Nova Project with Japan Oil, Gas and Metals National Corporation (JOGMEC), the minerals investment arm of the Japanese government, over two tenements in Namibia where JOGMEC can earn 39.5% on expenditure of A$4.5 million, continued to its second full year.
- Deep Yellow commenced trading on the United States OTCQB venture market platform giving potential to significantly expand its shareholder investor base.
To view the full report, please visit:
John Borshoff Managing Director/CEO T: +61-8-9286-6999 Email: email@example.com www.deepyellow.com.au
Speedcast International Ltd (ASX:SDA) (OTCMKTS:SPPDF) provides Lenders' presentation for Globecomm acquisition.
Speedcast International Limited ("Speedcast") is seeking to raise US$175m of an incremental term loan to its existing Term Loan B facility to acquire Globecomm Systems Inc. ("Globecomm")
- Speedcast is a leading provider of end-to-end remote communications and IT solutions to a wide range of blue-chip customers globally
o Jun-18 pro-forma revenue of US$758m and Jun-18 pro-forma EBITDA of US$169m(1)
o Listed on the Australian Securities Exchange ("ASX") (ASX:SDA), with an enterprise value of US$1,317m(2) (pro-forma for Globecomm)
- Track record of integrating strategic, value-accretive transactions, resulting in significant scale benefits and earnings diversification
- On 28 August 2018 Speedcast announced the acquisition of Globecomm for US$135m(3) on a cash and debt-free basis
o Highly strategic acquisition in line with Speedcast's goal to build scale and capabilities in high growth markets through consolidation
o Complementary teleport and security cleared infrastructure in the US and Europe
o Jun-18 EBITDA of US$16m and more than US$15m of annualized cost synergies (expected to be realized within 18 months post close)(4)
o Expected to close in Q4 2018
- Speedcast is seeking to raise US$175m of incremental pari passu term loan to fund the acquisition and repay a portion of its revolver
o Results in a net leverage ratio of 3.4x Jun-18 pro-forma EBITDA(5)
(1) Pro-forma Jun-18 EBITDA includes full year contribution from Globecomm (including run-rate cost synergies), UltiSat (acquired in Nov-2017) and Harris CapRock run-rate synergies.
(2) Market data as at 14 September 2018. Pro-forma net debt as at 30 June 2018 of US$572m. Market capitalization of US$745m converted at spot rate of 0.7201 AUD/USD.
(3) Estimated purchase consideration including closing adjustments and net of US$10m proceeds from the sale and leaseback of Globecomm headquarters.
(4) Globecomm EBITDA and synergies as per Speedcast's 1H18 results presentation.
(5) Pro-forma for Globecomm cost synergies (expected to be realized within 18 months post close).
To view the full presentation, please visit:
Toni Lee Rudnicki Vice President, Global Marketing Speedcast International Ltd E: firstname.lastname@example.org T: +1-832-668-2634
Alt Resources Ltd (ASX:ARS) provides the Company's Annual Report to shareholders.
Letter from the Chairman
I would like to take this opportunity to thank you for your continued support of the Company and the exploration and development projects we hold.
This time last year the Board and Executive undertook a review of operations and our portfolio of assets and as part of this process defined a strategy to transform the Company from an exploration operation to a near term emerging gold developer.
Over the past 12 months we have implemented the strategy, firstly acquiring the Bottle Creek Gold Project located in the Mt Ida gold belt in the northern goldfields of WA via an Option to Purchase Agreement. The Bottle Creek mining leases were the key strategic asset in the Mt Ida area and upon securing these assets it enabled the successful negotiation to acquire the significant package of tenements surrounding Bottle Creek mining leases from ASX listed Latitude Consolidated Limited, creating the Mt Ida Gold Project covering an area of 360 square kilometres.
Drilling at Bottle Creek commenced in March 2018 delivering consistent outstanding high grade gold and silver results across the project area which has been very evident in the company reporting of exploration results to the ASX confirming our view that Bottle Creek is an extremely robust high quality asset.
Since the acquisition of Bottle Creek we have produced the first maiden resource from Bottle Creek of 110,000oz of Au and 650,000oz of Ag adding to the existing Mt Ida resources of 97,000oz Au. The staff have delivered this result in less than 5 months and at a cost of under $10.00 per resource ounce which is an outstanding effort. Additionally we have recently completed a second stage of RC drilling at Bottle Creek that in the near future will provide a resource upgrade which will be announced when completed.
More importantly we have delivered approximately 75,000oz of 110,000oz in the indicated category which at optimization will then fall into the probable category as an ore reserve in a mining cycle, creating significant uplift in value as the project progresses.
The Board and Executive of the Company remain aligned with our shareholders in that we are all shareholders in the Company. The Directors and Executive all accept shares in lieu of reduced cash payments for their service.
Our focus over the next 12 months is to progress the Bottle Creek and Mt Ida Gold Project into a development project with particular emphasis on expanding the gold resources to a level that will sustain a 500,000 ton per annum processing plant for a minimum of 5 years. The Company will fast track and expand operations at the Bottle Creek and Mt Ida projects in WA and will continue to evaluate gold opportunities in this state. WA is recognised as one of the top 3 jurisdictions globally to operate mining and exploration and Australia is the second largest gold producer.
The Company intends to undertake an independent valuation of the Paupong project in 2019 and may offer the project up for larger companies to vend into the project. The Board and geological staff consider that the Paupong IRG system is a large scale project with potential for significant mineral system discovery.
The Company has a dedicated team of exploration staff who are integral in the success of our projects and their development. We are a small Company delivering some very good results with limited resources and I would like to take this opportunity to thank them for their hard work over the past year.
I take this opportunity to welcome Mr Andrew Sparke to the Board of the Company as Executive Director of Corporate Finance. The Board is confident that his knowledge and experience will be of great value to our company in our transition to an emerging gold developer.
We look forward to an exciting future with our projects and recent acquisitions and to your continued support.
To view the report, please visit:
Alt Resources Ltd T: 1300-660-001 M: +61-406-069-243 E: email@example.com WWW: www.altresources.com.au
Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8), the leading payment and identity technology company (the "Company"), is pleased to announce that it has completed acquisition of 100% of the issued capital of Cyprus based, Probanx Information Systems Ltd ('Probanx").
Probanx (www.probanx.com) has been in operation for more than a decade, and services more than fifteen (15) prudentially regulated entities across the EU, Asia and North America, with regards to their core banking platform requirements.
Probanx revenue model is predominantly based upon a software licensing model with annual maintenance fees, with licensed software installed on local servers operated by the banking client. The Company expects that the Probanx revenue model can be readily adapted to also include a Software as a Service (SaaS) model, which can be hosted as part of the Company's secure cloud infrastructure. SaaS services command higher fees, as they are ready to use without the need for infrastructure and case by case certifications.
Probanx core banking services have recently been third party certified, and the Company intends to augment the Probanx offerings by adding its card processing modules as they become scheme certified later this year and next, including schemes such as Visa, Mastercard, JCB and others.
In addition to the future SaaS licensing opportunities around core banking and card processing SaaS, Probanx is a strategic acquisition for the Company as it provides proven and certified systems as follows;
- Core Banking Platform
- E-banking (Client Portal)
- Mobile Banking Application
- Loans & Mortgages Module
- Portfolio Management
- IBAN Validation API
- Integration between ATM and POS switches, and the CorePlus Banking System.
- Multi-Currency Accounting
- Supports English, French, German, Italian, Greek, Spanish and Hebrew
- Wire Payments - SWIFT, SEPA and Earthport Integration
The Company's EMA services will be integrated to the above certified services as soon as readily possible, allowing our business customers and merchants access to the rich features of the core banking platform. The Client portal will allow retail customers to view their ISXPay IBAN accounts online and via mobile.
Probanx shall operate as an independent business unit, sharing legal, treasury, and HR functions with the parent and sister companies, with Mr Chris Georgiou staying on as a director and managing the Company. Probanx is expected to deliver a positive EBIT contribution to the iSignthis group for FY2018.
The Company has acquired Probanx for EUR300,000 cash, with EUR100,000 in ISX ordinary shares due in six months, and an earn out commission against future receipted sales closed within the next three (3) months.
John Karantzis, CEO of iSignthis said "We are delighted to have concluded the acquisition of Probanx Information Systems, which we believe is an excellent addition to the overall iSignthis SaaS solution. ISXPay's certified Tier 1 card processing software will also conversely be available as a SaaS service from Probanx in due course, complementing the core banking offering and strengthening the value proposition to small banks and PSPs. The addition of a proven core banking platform will also allow our operating arm, ISXPay, to grow its eMoney Account (EMA) products rapidly, and to provide enhanced services to its customers."
Read more about the company at our website http://www.isignthis.com
For more information, please contact: firstname.lastname@example.org iSignthis Ltd T: +61-3-8640-0990 F: +61-3-8640-0953 E: email@example.com WWW: www.isignthis.com
Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce an updated Mineral Resource Estimate for the 100% owned Teal gold project area located 11km northwest of Kalgoorlie-Boulder in Western Australia (see Figures 1 and 2 in link below).
- Highly successful new discovery and resource expansion drilling campaign completed at the Teal gold project area, 11km north-west of Kalgoorlie-Boulder in the Western Australian goldfields
- In total, 182 RC holes for 23,545m completed with the majority of the drilling focussed on resource growth at Teal, Jacques Find and Peyes Farm(see Note 1 below)
- Independent Mineral Resource now compiled for the Teal Project area and, after depletion from mining Teal Stages 1 and 2, stands at:
o 4.25Mt @ 2.11g/t Au for 289,000 ounces at a 1.0g/t Au lower grade cut-off, up 80%(see Note 2 below)
- Over 85% now in the Indicated Category with mineralisation open in all directions(see Note 2 below)
- Intermin's Total Mineral Resource (after depletion) grows to:
o 8.40Mt @ 2.08g/t Au for 562,000oz at a 1.0g/t Au lower grade cut-off(see Note 2 below)
- Next phase of drilling at Teal planned for the March Quarter 2019
- Mining studies commenced to assess optimal mining and processing pathways for oxide and transitional ore accessible by open cut mining
DRILLING CONTINUES AT INTERMIN'S 100% OWNED KALGOORLIE GOLD PROJECTS
- New discovery and resource expansion drilling (14,000m) continues at the Anthill gold project with further drilling results and an updated Mineral Resource expected in the December Quarter(see Note 2 below)
- Follow up drilling also underway at the Crake prospect, part of the Binduli project area with an additional 3,000m due for completion in the December Quarter(see Note 2 below)
- First pass drilling (3,000m) at Coote, Darter and Honeyeater prospects at Binduli is also planned as part of the Binduli program(see Note 2 below)
- A maiden Mineral Resource for the Crake prospect is expected in the March Quarter 2019(see Note 2 below)
- A 14,000m new discovery program at the Blister Dam project is also planned to commence in the December Quarter
Commenting on the updated resource, Intermin Managing Director Mr Jon Price said:
"The Company commenced the self-funded A$4m, 55,000m drilling program in February this year and it has certainly delivered results. An 80% increase in resources at Teal at a $14/oz discovery cost is not only a testament to quality of the assets but also the exploration team who have worked tirelessly on target generation and project priorities."
"With a significant amount of drilling still ongoing at Anthill, Binduli and Blister Dam, the Company looks forward to releasing further results and resource updates as we move closer to achieving the significant 1 million ounce milestone."
Since February 2018, the Company has completed 182 angled RC holes for 23,545m to downhole depths of between 60-270m. The drilling comprised infill, lateral and depth extensional and new discovery drilling at the Jacques Find, Peyes Farm, Yolande and Teal prospects. Results were released on the ASX on 18 April, 24 April, 12 June and 1 August 2018.
Significant shallow downhole RC intercepts included(see Note 1 below):
- 10m @ 6.70 g/t Au from 60m (JFRC18048)
- 8m @ 5.70g/t Au from 64m (JFRC18026)
- 8m @ 5.28g/t Au from 64m (JFRC18095)
- 6m @ 6.69g/t Au from 91m (JFRC18042)
- 3m @ 10.28g/t Au from 102m (JFRC18034)
- 13m @ 2.78g/t Au from 90m and 11m @ 2.77g/t Au from 73m (JFRC18049)
- 6m @ 4.72g/t Au from 54m and 6m @ 4.34g/t Au from 42m (JFRC18038)
- 37m @ 2.16g/t Au from 90m and 9m @ 4.45g/t Au from 118m (JFRC18010)
- 7m @ 4.47 g/t Au from 34m and 12m @ 2.33 g/t Au from 105m (JFRC18129)
Significant deeper downhole RC intercepts included(see Note 1 below):
- 8m @ 10.31g/t Au from 123m (JFRC18039)
- 8m @ 5.88g/t Au from 124m (JFRC18136)
- 5m @ 4.49g/t Au from 117m and 7m @ 3.46g/t Au from 90m (JFRC18112)
The new data has been used to compile a detailed independent Mineral Resource Estimate which is compliant with the JORC 2012 Code.
Intermin's updated Teal Project area Mineral Resource (JORC 2012) includes the Teal, Peyes Farm and Jacques Find deposits and shows an 80% increase in ounces compared to the previous Teal Resource(see Note 3 below). The Mineral Resource for Teal has been depleted to take into account the recently completed Teal Stage 1 and 2 open cut developments.
The current Mineral Resource Estimate for Teal now stands at:
- 4.25Mt at 2.11 g/t Au for 289,000 oz (>1.0g/t Au lower grade cut-off with various top cuts applied)(see Note 3 below)
The Teal gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs and porphyry rocks at depth. Mineralisation is strongly influenced by flexures along the northwest-southeast striking Peyes Farm Shear zone which trends parallel to the regional geology. Gold mineralisation is developed in an upper flat lying oxide supergene deposit located between 30-55 metres vertical depth and in primary mineralisation in a sub vertical west and east dipping shear zones. The mineralisation trends NNW over a strike length of approximately 650 metres.
The Jacques Find gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and stratigraphy to the north to northwest striking shear zone which trends parallel to the regional geology. Gold mineralisation is developed in a flat lying oxide supergene deposit located between 35-55 metres vertical depth and in primary mineralisation within a sub vertical shear zones. The mineralisation trends N-NW over a strike length of approximately 800 metres. For the Mineral Resource Estimate, Jacques incorporates the prospects known as Yolande and Teal West.
The Peyes Farm gold deposit, is similar to Teal and comprises a moderately developed supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and contacts. Peyes Farm is located within a north striking shear zone which trends parallel to the regional geology. Gold mineralisation is poorly developed in the flat lying oxide supergene deposit located between 20-40 metres vertical depth. Peyes primary mineralisation dips east at about 60deg. The mineralisation spans approximately 600 metres.
Primary mineralisation at depth exhibits semi-refractory properties and optimal recoveries are achieved through ultra-fine grinding, pressure oxidation or roasting. The shallow oxide supergene mineralisation is similar to the Teal gold mine where recoveries over 94% where achieved.
Next Steps(see Note 4 below)
Given the successful drilling programs to date, further resource extension and new discovery drilling in the Teal Project area is planned to commence in the March Quarter 2019. The drilling will focus on:
- Building additional resources at Teal West and Teal East
- Following up encouraging auger results proximal to the Jacques Find and Peyes South areas
- Diamond drilling beneath deep high grade shoots at Jacques Find and Teal
Mining studies have commenced on the Jacques Find, Peyes Farm and further stages of the Teal project focussed on open pit development for extraction of the oxide and transitional ore as part of the mining production pipeline. In addition, metallurgical test work will continue to determine optimal processing pathways for the primary mineralisation with further discussions to be held with suitable processing plant owners in close proximity.
1 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018
2 see Table 1 on Page 4, Competent Persons Statements on Pages 4 and 21, Forward Looking Statement on Page 22 and JORC Tables on Page 23
3 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018, see also JORC Tables on Page 14
4 see Forward Looking and Cautionary Statements on Pages 21 and 22
To view tables and figures, please visit:
Jon Price Managing Director Tel: +61-8-9386-9534 E: firstname.lastname@example.org Michael Vaughan Media Relations - Fivemark Partners Tel: +61-422-602-720 E: email@example.com