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MMJ PhytoTech Ltd (ASX:MMJ) MediPharm Labs Corporate Update

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MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") is pleased to attach a release from MediPharm Labs Inc. ("MediPharm Labs") (TSX-V: LABS) providing a corporate update highlighting their achievements and ongoing activities.

Specifically, MMJ notes that:

- MediPharm Labs is currently operating with a processing capacity of 100,000 kilograms of dry cannabis flower and/or trim per year, giving them one of the largest extraction capacities in Canada; and

- Fully funded expansion is underway to increase customised processing capacity to an expected 250,000 kilograms of dry cannabis per year by Q2 2019.

MMJ has CAD$5 million of equity invested in MediPharm Labs with 5.88 million shares (CAD$0.85 cost per share) and 2.94 million warrants (exercisable at CAD$1.20 per share by October 2020).

To view the release, please visit:
http://abnnewswire.net/lnk/3B2X6I5J

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: info@mmjphytotech.com.au

Nova Minerals Ltd (ASX:NVA) Corporate and Operational Update

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The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) announce a corporate update across the company's project portfolio.

Thompson Bros Lithium Project

The year kicked off with a very successful drill campaign at the Thompson Brothers Lithium (TBL) project. Numerous intersections of spodumene pegmatite were drilled with the best intersection coming from TBL-017 of 1.53% Li2O over 23.00 metres core length or 13.88 metres true width. While the drilling was ongoing, a preliminary floatation test was carried out at the Saskatchewan Research Council on material from TB-1 pegmatite. SRC was able to produce a floatation concentrate of 6.4% Li2O for a composite sample having a head grade of 1.4% Li2O for material taken from the 2017 drilling campaign announced on 7th June 2018. Although preliminary in nature this concentrate exceeded expectation of 5.0% Li2O. Once all the assays were received from the laboratory for the winter drilling, a full data package was sent to a consultant in Perth, Australia to conduct an ID2 inferred resource model. One was also sent to an independent geologist in Victoria, Canada to produce a NI 43-101 qualifying report in support for a listing on the TSX.V. The independent geologist also conducted a site tour of the project in March. In late July, the Australian consultant produced a JORC Inferred Resource consisting of 6.3 million tonnes @ 1.38% Li2O announced 25th July 2018. In mid-August, the independent consultant from Victoria produced a draft NI 43-101 qualifying report in support of the future listing in Canada.

During the rest of the summer months the project was largely inactive as Nova Minerals began the process of setting up a Canadian corporate presence and initiating the process of spinning out the TBL asset to the Canadian subsidiary. A small prospecting campaign was conducted at the end of August on the project. The campaign resulted in the re-discovery of the Sherritt Gordon (SG) pegmatite cluster, and the discovery of a new spodumene pegmatite located approximately 300 metres south-east of the SG pegmatite.

At the start of Q4, planning and permitting is ongoing for the Fall and Winter drill programs. The next drill campaign is estimated at between 10,000 and 12,000 metres with the milestones of completing an NI 43-101 Inferred Resource study together with a PEA on the project delivered by Q3-2019.

The Company is pleased to report that it has received significant interest in the placement from North American Institutional Funds. The company will keep the market informed of the progress seed capital and other corporate activity in due course. The issue of Snow Lake Resources Ltd shares under the Seed Capital Raising and IPO is being made to investors in North America only.

Nova is also pleased to announce that the company has received reimbursements of CAD $120,035 from the Manitoba Mines Branch through the Manitoba Mineral Exploration Assistance Program (MEAP).

Estelle Gold Project

Since the Company announced the commencement of drilling at Estelle on 27th August 2018, the drill program has made progress in the field slower than expected. The crew had delays in dialing in the new rig and unforeseen site matters, which the company didn't anticipate. Furthermore, the winter season came earlier than expected and as safety to all staff is paramount, the drilling program was halted. The drilling delay will also delay the targeted JORC resource estimate. With the delays in drilling, the exploration team undertook detailed geologic mapping and sampling of the 5,080 acres (20.55 km2) Oxide Claim Group, in the Skwentna River basin in the southern Alaska Range. The mapping and rock chip-sampling program was overseen and completed by Thomas K. Bundtzen P.Geo, BS, MS and assisted by Larry Nichols.

During the investigation, 107 field stations were occupied. Seventeen (17) geologic units were identified. Locally abundant sulfide mineralization and associated quartz stockwork were sampled in a distinct north-northeast-trending zone within the Late Cretaceous Mount Estelle pluton, which includes granite, quartz monzonite, alaskite, monzonite, and granodiorite. Phyllic and propylitic alteration were recognized in the sulfide-rich zones. All mineralization is hosted in phaneritic, intrusive rock phases. Sampled zones include the Oxide-North, Oxide-South prospects and a new zone now drill-tested by Nova Minerals. Locally abundant arsenopyrite, chalcopyrite and locally galena were readily identified in the field. Measured chip sample traverses were acquired across sulfide-rich mineralization. Previously identified chargeability anomalies were also sampled.

A total of seventy five (75) samples were submitted to the ALS Minerals laboratory facility in Fairbanks for gold by fire assay, and multi-element analysis; and for some samples, major and minor oxide analysis in order to better understand the geochemical composition of the mineralized intrusive suite. Three bulk panned concentrate samples were acquired from the mainstream drainage cutting the claim group. Twenty (20) samples were sent to a Fairbanks-based laboratory for creation of thin sections for petrographic and mineralogical analysis.

During the mapping exercise, 190 measurements were acquired on fault planes, joints, and sedimentary bedding in order to determine structural controls of mineralization and to better understand igneous emplacement histories.

Upon receipt of the laboratory data, Nova will update the market with detailed map with cross sectional profiles.

Nova now holds 51% of the project, the costs mainly arose through the acquisition of the drill rig and equipment associated, capital cost on camp establishment and logistics.

In light of the delays, Nova is pleased with what the site crew accomplished and has set all the groundwork to undergo and fast track a much larger drill program in the new year, to be performed on a much larger exploration footprint mapped out well beyond the 1.1 - 2.3Moz Gold Exploration target already established. The infrastructure and equipment set in place allows for quick restart to cover historical drill locations and newly discovered prospects at Oxide-North and Oxide-South.

Nova will update the market in due course on results, planned works and schedule.

Officer Hill Gold Project

We are committed to our joint venture with Newmont in relation to the Officer Hill Gold Project, in the Tanami region of Northern Territory.

Newmont has commenced the exploration program for the Officer Hill Gold Project, which was previously announced on 6 August 2018. The program will include follow up diamond drilling, an airborne gravity gradiometry survey, and follow up sampling around the Paris prospect in the western portion of EL21350. We will update the market as we receive the exploration results.

NVA Managing Director, Mr. Avi Kimelman said:

"Due to the delays at Estelle, we are disappointed that the Maiden JORC resource estimate will have to be delayed until mid-next year However with the site, drill rig and camp now set up for a quick start up, the company is excited that the exploration area has been expanded significantly across the Oxide prospect. The Oxide prospect is one of over 15 areas of interest prospective for major discovery that's known to exist in the area. The project fundamentally is as strong as a district scale Gold project and I believe with our next major drill program our vision and the scale of the project will come to light"

"We are pleased with the response in the Snow Lake Resources raising to date and believe shareholders will shortly see the value in the path we have chosen, despite it being a subdued lithium market. We look forward updating the market on other corporate activity around this in due course."

"Nova is well capitalised to fund its planned activities, with the proposed expanded drilling program in snow lake to be financed from the proceeds of our IPO, majority start-up costs in Alaska paid - which includes owning camp equipment and supplies, a drill rig and associated equipment"

"Finally we remain focused on our strategy to deliver our fast tracked approach of value creation and growth. Our belief and commitment further evidenced by the directors recently injecting $500,000."

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

Ardea Resources Ltd (ASX:ARL) High-Grade Nickel-Cobalt Mineralization Extended at Goongarrie

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Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) announces Recent drilling results from the Pamela Jean Deeps confirm and extend the deeper high-grade mineralization. This zone is scheduled as the mining target during the payback period, to enhance project economics.

- Ongoing Definitive Feasibility Study (DFS) drilling program confirms high-grade intercepts at the Pamela Jean Deeps orebody.

o AGSR419 112m at 1.30% Ni, 0.26% Co, 31g/t Sc from 30m(see Note 1 below)

o AGSD0001 100.8m at 1.00% Ni, 0.08% Co from 32m(see Note 2 below)

o AGSR0413 76m at 1.11% Ni, 0.09% Co and 38g/t Sc from 24m

o AGSR0418 56m at 1.29% Ni, 0.14% Co and 18g/t Sc 104m

o AGSR0190 57m at 1.04% Ni, 0.10% Co and 21g/t Sc from 70m

- The top of Pamela Jean is a typical flat laterite surface at 15-30m below surface. Rather than a flat base some 40-50m below surface, the base of Pamela Jean is "funnel-shaped", penetrating up to 165m below surface. With continuous mineralisation to depth, this geometry fortuitously mimics pit design batters, minimizing Pamela Jean strip ratios. The result is high tonnes and grade proximal to future plant site.

- The "deep funnel" ore is associated with a narrow dyke and intense shearing that has facilitated exceptionally deep weathering (to 165m).

- An additional "funnel-shaped" Deeps ore zone discovered in 20m infill drilling (AGSR0190), suggests potential for further deeper high-grade ore, associated with bedrock structures, still requiring drill appraisal.

- Uniform goethite mineralization confirmed at Pamela Jean, validates Pamela Jean as a premium autoclave feed for project payback.

- Ore geometry very consistent, with >0.5% Ni pervasive between the base of lateritized alluvium overburden and top of carbonated saprock basement, facilitates predictable mine planning, free-dig ore until mining encounters sub-grade hard saprock at the pit base and within batters, excellent visual grade control.

- Ardea inclined drill-holes have precisely confirmed historic drill results, serves as a QAQC program for historic work.

- Scandium mineralization evident from surface, typically 30-62g/t Sc when occurring in the nickel-cobalt ore feed.

- Magnesite neutralizer pervasive within ore footwall, ~0.5% Ni credit.

Recent drilling results from the Goongarrie orebody

Pamela Jean Deeps

Significant intercepts from the Pamela Jean Deeps drilling(see Note 3 below)

6669440mN section

AGSR0412 38m at 0.89% nickel, 0.06% cobalt and 36g/t scandium from 22m(see Note 4 below)
including 8m at 1.16% nickel, 0.13% cobalt and 34g/t scandium from 30m

AGSR0412 14m at 0.78% nickel, 0.04% cobalt and 8g/t scandium from 136m(see Note 4 below)
including 2m at 1.13% nickel, 0.11% cobalt and 6g/t scandium from 140m

AGSR0411 32m at 0.84% nickel, 0.05% cobalt and 15g/t scandium from 22m(see Note 4 below)
including 2m at 1.28% nickel, 0.09% cobalt and 22g/t scandium from 38m

AGSR0411 20m at 0.71% nickel, 0.03% cobalt and 9g/t scandium from 76m(see Note 4 below)

6669520mN section

AGSR0414 4m at 0.44% nickel, 0.54% cobalt and 52g/t scandium from 14m(see Note 4 below)

AGSR0414 38m at 1.01% nickel, 0.10% cobalt and 43g/t scandium from 16m(see Note 4 below)
including 8m at 1.40% nickel, 0.08% cobalt and 30g/t scandium from 40m

AGSR0413 76m at 1.11% nickel, 0.09% cobalt and 38g/t scandium from 24m(see Note 4 below)
including 12m at 1.11% nickel, 0.12% cobalt and 36g/t scandium from 44m

including 16m at 1.36% nickel, 0.22% cobalt and 35g/t scandium from 66m

including 4m at 1.36% nickel, 0.13% cobalt and 33g/t scandium from 88m

6669600mN section

AGSR0418 42m at 0.67% nickel, 0.04% cobalt and 14g/t scandium from 30m(see Note 4 below)
including 2m at 1.12% nickel, 0.09% cobalt and 13g/t scandium from 48m

AGSR0418 56m at 1.29% nickel, 0.14% cobalt and 18g/t scandium from 104m(see Note 4 below)
including 36m at 1.40% nickel, 0.20% cobalt and 19g/t scandium from 110m

AGSD0001 100.8m at 1.00% nickel, 0.08% cobalt from 34m(see Note 4 below)
including 2m at 1.02% nickel, 0.11% cobalt from 87m

including 7.2m at 1.30% nickel, 0.45% cobalt from 95.6m

including 6m at 1.40% nickel, 0.22% cobalt from 118m

AGSD0001 24.8m at 1.10% nickel, 0.08% cobalt from 140.2m(see Note 4 below)
including 8m at 1.40% nickel, 0.11% cobalt from 152m

6669680mN section

AGSR0419 112m at 1.30% nickel, 0.26% cobalt and 31g/t scandium from 30m(see Note 4 below)
including 6m at 1.14% nickel, 0.08% cobalt and 19g/t scandium from 42m

including 68m at 1.58% nickel, 0.39% cobalt and 35g/t scandium from 72m

6669760mN section

AGSR0422 48m at 0.94% nickel, 0.07% cobalt and 19g/t scandium from 104m(see Note 4 below)
including 8m at 0.88% nickel, 0.16% cobalt and 18g/t scandium from 114m

including 4m at 1.48% nickel, 0.09% cobalt and 135g/t scandium from 134m

AGSR0421 26m at 0.66% nickel, 0.04% cobalt and 35g/t scandium from 20m(see Note 4 below)

AGSR0421 76m at 0.82% nickel, 0.07% cobalt and 28g/t scandium from 54m(see Note 4 below)
including 28m at 0.91% nickel, 0.14% cobalt and 27g/t scandium from 84m

AGSR0190 24m at 0.86% nickel, 0.02% cobalt and 99g/t scandium from 36m4

AGSR0190 57m at 1.04% nickel, 0.10% cobalt and 21g/t scandium from 70m
including 14m at 0.82% nickel, 0.20% cobalt and 24g/t scandium from 70m

including 16m at 1.28% nickel, 0.10% cobalt and 29g/t scandium from 90m

6669840mN section

AGSR0186 62m at 0.92% nickel, 0.04% cobalt and 32g/t scandium from 22m(see Note 4 below)
including 2m at 1.40% nickel, 0.08% cobalt and 50g/t scandium from 66m

AGSR0417 26m at 0.90% nickel, 0.04% cobalt and 29g/t scandium from 22m(see Note 4 below)

AGSR0187 60m at 1.14% nickel, 0.08% cobalt and 47g/t scandium from 24m(see Note 4 below)
including 24m at 1.27% nickel, 0.14% cobalt and 33g/t scandium from 60m

6669880mN section

AGSR0416 28m at 0.87% nickel, 0.08% cobalt and 34g/t scandium from 62m(see Note 4 below)
including 4m at 0.83% nickel, 0.11% cobalt and 34g/t scandium from 62m

including 8m at 0.91% nickel, 0.09% cobalt and 34g/t scandium from 82m

6669920mN section

AGSR0294 18m at 0.98% nickel, 0.08% cobalt and 34g/t scandium from 18m(see Note 4 below)
including 8m at 0.98% nickel, 0.12% cobalt and 43g/t scandium from 18m

AGSR0415 46m at 1.03% nickel, 0.06% cobalt and 35g/t scandium from 28m(see Note 4 below)
including 10m at 1.33% nickel, 0.14% cobalt and 34g/t scandium from 46m

Pamela Jean Geological Model

The current Pamela Jean Deeps drilling was initially executed as a precursor to a geotechnical program, but has generated new insights into Goongarrie geological models, geo-metallurgy and geotechnics.

The 2018 Ardea drilling at Goongarrie, and Pamela Jean in particular, is restricted to 80x40m infill of proposed pit locations where existing 80x80m drill patterns define the current Indicated Mineral Resource (refer ASX announcement 14 March 2018 for current resource statement). Being infill drilling during 2018, changes to the overall Mineral Resources are expected to be non-material. Of note, historical geological interpretations for the run-of-mine "shallow flat" lateritic mineralization have been precisely confirmed by 2018 drilling, suggesting robust QAQC for historic Goongarrie drilling.

The recent Pamela Jean Deeps drilling has been different to earlier 2018 drilling, in that the inclined holes (first time executed anywhere at Goongarrie) have quantified deep "funnel-shaped" ore zones, especially in respect to structural controls on deep ore. Importantly, "deep funnel" mineralization has been defined (notably by drill-hole AGSR0190 section 6669760mN) where previous drilling only had "shallow flat" ore.

Historic hole GSRC0184 (323096mE) returned 22m at 0.58% Ni and 0.03% Co from 17m and GSRC1005 (323140mE) returned 35m at 0.82% Ni and 0.11% Co from 28m. Ardea RC drill-hole AGSR0190 (323116mE) between the two returned 91m at 0.92% Ni and 0.07% Co from 36m (stops in ore), and in addition intersected a previously unrecognized dyke dipping 650 east that fingerprints the "deep funnel".

Following this result, a systematic drill data review was completed, identifying a significant number of holes stopping in ore where potential deep "funnels" could be present (as for AGSR0190). This will necessitate amendments to wireframes and ultimately pit designs. With the deepening and widening of potential pits, various geotechnical parameters in terms of batter designs and PAL plant neutralizer also come into play.

As 2018 RC drilling winds down, data is being consolidated for current DFS programs. In particular, a geological model has been developed for Goongarrie which consolidates the current 575 holes for 26,528m of Ardea RC drilling with existing 2,372 holes for 115,384m of historical RC drilling. The Ardea model focuses on the mineralized regolith (the weathered mantle), and its relationship to the underlying protolith (the unweathered ultramafic bedrock). In particular, there is a marked bedrock structural control on overlying laterite mineralization.

The same bedrock structures also control the location of palaeo-channel quartz sand units (component of "Lateritized Alluvials", see Figure 2-9 in link below). The sand channels influence DFS hydrology planning and pit designs.

Protolith

The Goongarrie nickel-cobalt mineralization is hosted by the Walter Williams Formation (WWF), a 2.7 billon year old olivine cumulate komatiite volcanic flow. The flow at its western contact variously overlies a granitoid basement or Missouri Basalt (conformable volcanic contact). The upper eastern contact is conformable Siberia Komatiite, with potential for a low-grade nickel laterite regolith.

Western-most Goongarrie drill holes intersect a major quartz sand palaeo-channel aquifer (including carbonate bands), either overlying mineralization or dissecting mineralization. The palaeo-channel is a NW palaeo-valley separating Pamela Jean in the east from Elsie Tynan in the west.

Eastern-most Goongarrie drill holes end in olivine orthocumulate and Siberia Komatiite and have a nontronite regolith with low-grade nickel laterite developed on shallow dolomitic saprock (potential neutralizer).

Regolith

As well as being the ore body, the Regolith is critical to project design, providing civil construction material, and importantly neutralizer for the PAL discharge and environmental management.

The drill-hole logging and interpretation defines the regolith, which then governs mine scheduling for ore, neutralizer and construction materials.

Goongarrie has a predicable Regolith, easily recognized in drill logging and is summarized as follows.

Pedogenic - Regolith Cycle 3 - Residual (youngest)

Modern soil profile, typical detrital quartz sand with colluvial hematitic clasts cemented by calcite at 0-2m and dolomite at 2-6m, commonly colluvial gravel horizons.

The carbonate component is suited as an environmental neutralizer.

Laterite - Regolith Cycle 2 - Residual

Laterite Duricrust is dominantly ferruginous (>25% Fe) and usually develops on Alluvial cover, but on palaeo-Tertiary highs such as Patricia Anne, laterite develops on a mineralized goethite cumulate substrate.

The Laterite Mottled is a distinctive dark red massive mottled kaolinitic clay with Sc-V-Ti-Zr "resistate" enrichment. XRD confirms a haematite-kaolinite mineralogy. There can be a diagnostic alunite overprint superimposed upon upper Cycle 2 Laterite.

Laterite is earmarked for use in civil earthworks, including plant site, ROM pad and roadways.

Alluvial Cover - Regolith Cycle 1, 2 - Depositional

The Alluvial Cover includes Tertiary-aged gravel, sand and clay overburden. For consistency, if ferricrete bands are present (yellow/brown mottling or dark red hematite nodules), then the material characterization is Laterite, and it is suitable for earthworks.

Tertiary palaeo-channel gravels with carbonate cement typically show no lateritization. The magnesite is suitable for neutralization of the PAL discharge, but lacks the nickel credit of saprock neutralizer.

A distinctive clay variant is "candy-stripe clay", being a thin bedded 0.2-2mm banded white and brown-pink kaolinitic lacustrine deposit which has been irregularly "bleached" to pure white (to blue-green-white) coating-grade kaolinite. This is a high priority precursor target for High Purity Alumina (HPA).

Clay Upper - Regolith Cycle 1 - Residual (oldest)

The main mineralized zone at Goongarrie is termed Clay Upper/Lower and occurs dominantly between base of Cycle 2 Lateritized Alluvials and top of Cycle 1 Carbonated Saprock (see Figures 2-9 in link below).

Clay Upper mineralogy is dominantly goethite clay, with accessory asbolite, haematite, magnetite, chromite, kaolinite, gibbsite and silica. The ore zone in modelling is clearly defined by the >0.5% Ni grade shell, with associated Co, Mn, Cr, Zn and Cl enrichment.

The continuity of Clay Upper/Lower mineralization ensures predictability and accuracy for mine scheduling, significantly diminishing production risk at Goongarrie.

The base off Clay Upper is a geochemical contact termed the Magnesia Discontinuity (MD), characterized by a sharp increase in magnesium and silica with a corresponding decrease in iron and aluminium which reflects palaeo-water table events. There is a marked increase in Ni, Co and Mn straddling the MD.

Clay Lower - Regolith Cycle 1 - Residual

Clay Lower is the mineralization host below the Magnesia Discontinuity. There is invariably 2-10m of mineralized Clay Lower below the MD and above Saprock. Clay Lower is dominantly goethite, with accessory silica, chlorite-serpentine (green flecks) and magnesite (white-brown).

Clay Void-fill - Regolith Cycle 1 - Residual

Clay Void-fill is a distinctive karst-style breccia deposit occasionally found at the top of Saprock, consisting of irregular angular fragments of silicified Saprock "floating" in a dark red goethitic mud matrix.

The silicified fragments are suited as a grinding media, which is attractive in view of the nickel credit of Clay Void-fill (0.5-1.3% Ni).

Saprock - Regolith Cycle 1 - Residual

Saprock is a hard carbonated weathered rock with strong remnant olivine cumulate textures. It is easily distinguished from the overlying soft ore, so the base of ore will be readily distinguished in grade control. Geochemically, Saprock has >7% Ca and >20% LOI. There is a strong vertical zonation with depth in Saprock, being dolomite to magnesite to silica and finally serpentinite with irregular veining of porcellanous magnesite and chalcedony. At Pamela Jean, the dolomite zone is generally absent.

Saprock is suited as a PAL discharge neutralizer, with the focus on nickel-bearing carbonate (target 0.4-0.8% Ni).

Bedrock - Protolith

Bedrock has only been intersected by Ardea in the Pamela Jean Deeps "batter" geotechnical holes. Previous interpretations at Goongarrie are that olivine adcumulate weathers to deep goethite-gibbsite-silica clays, mesocumulate to shallower nontronite clays and orthocumulate has a very thin carbonated saprock weathering profile.

Mineralization

Pamela Jean is the key constituent lateritic orebody that contributes to the ore reserves defined at the Goongarrie Nickel Cobalt Project. It is located at the central Goongarrie South area (see Figure 1 in link below). It is one of the 31 currently defined deposits modelled for future mining at Goongarrie (see Appendix 1 in link below).

The Pamela Jean deposit measures approximately 1,700 metres by 300 metres and is characterised by high-grade, "deep funnel"-shaped mineralization. Overburden is 20-30m, with base of Pamela Jean Deeps mineralization between 100 and 165m.

The top of Pamela Jean is a typical flat laterite surface at 15-30m below surface. Rather than a flat base some 40-50m below surface, the base of Pamela Jean is concave at 80-165m below surface forming a "funnel-shaped" ore geometry that fortuitously mimics pit design batters, so minimizing Pamela Jean strip ratios. The result is high tonnes and grade proximal to the future plant site.

Continuity of mineralization is strong between drill holes (see Figure 2-9 in link below). This is a hallmark of Goongarrie, being a "goethite style" (yellow) laterite nickel-cobalt deposit. It contrasts with the more siliceous and nontronitic style (green) laterite deposits which can exhibit marked variation between drill-holes. All defined intercepts from the 2018 Pamela Jean program are listed in Appendix 3(see link below).

Metallurgical Programs

The 2018 Pamela Jean drilling has been a key source of metallurgical test material for current DFS programs.

Variability studies

Representative "run-of-mine" mineralization from Ardea Goongarrie South diamond core holes AGSD0007, 0010 and 0012 was used in the study. The consistency of mineralization has been confirmed and final results are pending.

Piloting studies

Based on the optimized pit schedule material, pilot feed was specifically-drilled with sonic core at 200m intervals along the strike of Pamela Jean and Elsie Tynan pit areas and supplemented with bulk RC chips from the Patricia Anne pit area, to achieve an approximate 1.1% Ni, 0.12% Co and 35g/t Sc feed (7.5 tonne dry).

The dominant ore style at Goongarrie is goethite-rich, with an accessory cobaltian wad termed asbolite. The ore has exceptional rheology in terms of pulp density and settling, with very consistent metallurgical performance.

Leaching has been completed to produce Mixed Sulphide Product (MSP). Metal leach extractions were 93-95%. The MSP is currently being refined into sulphate crystals. This process should be complete by the end of October 2018.
Ongoing work at Goongarrie

Resource Estimation

A comprehensive resource re-estimation for Goongarrie commenced in July 2018 in the northern Goongarrie project area (Patricia Anne) whilst drilling was still current in the southern project area (Big Four, Scotia Dam). The resource re-estimation due this quarter and will incorporate the recent infill drilling at Elsie Tynan.

During the course of wireframing the Patricia Anne and Pamela Jean deposits and siting geotechnical holes, it became apparent that though the 80x40m drill pattern was more than adequate for the run-of-mine "shallow flat" ore that typically occurs between 20m and 40m vertical depth, there were limitations for deeper ore. With the recognition of the strong structural controls on "deep funnel" ore, it became apparent that the 80x40m pattern did not adequately quantify the "deep funnel" ore with a large number of previous holes being stopped in ore (due to failing to identify the deep structural control on mineralization).

These observations indicate a resource predicated on existing drilling could underestimate the contribution of these "funnels".

An indicator of this issue was the pilot plant deep sonic drilling in most holes returned ore that significantly exceeded predicted the "run-of-mine" grades of 1% Ni and 0.1% Co, necessitating low grade hanging wall ore to be included in piloting to return grade closer to the scheduled life-of-mine grades.

Geo-metallurgy

Detailed geo-metallurgical analysis is currently underway for Goongarrie using multi-element geochemistry and Xray Diffraction (XRD) mineralogical analysis.

The study will allow 2018 Ardea drilling to be used as a control to populate the historic data base in respect of predicted metallurgical performance and material characterization.

There are currently 10 variants of Clay Upper ore and 8 variants of Clay Lower ore, all requiring variability test work.

The geo-metallurgical work on 28 Ardea core holes suggests the bulk density of "run-of-mine" ore historically may have been over-estimated, implying a potential reduction in tonnage but the historic bulk density determination estimates far exceed the smaller Ardea bulk density data set.

Drilling programs

A limited program of 80x20m infill RC drilling is under consideration for late 2018 to better quantify the "deep funnel" targets. This would enable an upgrade of resources and reserves, so facilitating greater confidence in defining mining schedules for the planned Goongarrie mine.

Additional drilling also includes:

- Ongoing samples for metallurgical variability testing of mineralized zones.

- Hydrology, palaeo-channel quartz sands separate the various ore bodies, so require pump-testing.

- Geotechnical, recent drill-hole AGSR0420 was a "sighter hole" for geotechnical core drilling. AGSR0420 intersected saprock and bedrock as predicted by Ardea's pre-drill wireframe, with RC chip logging suggesting a hard, competent rock suited to pit batter positioning.

DFS optimization options

The March 2018 Pre-Feasibility Study and July 2018 Expansion Study for the Goongarrie Nickel Cobalt Project highlighted an exceptional business case. With an enormous KNP resource inventory, access to discrete high-grade cobalt zones ("deep funnels") and the 2018 scandium and neutraliser discoveries, further project upside is expected at Goongarrie with studies underway for:

- Potential to high-grade the mining of cobalt zones during payback period, due to more constrained sub-blocking the resource model (smaller selective blocks in the updated resource model).

- Increased throughput and production through multiple (2.25Mtpa) PAL trains.

- Scandium production.

- Mineralized neutraliser optimization.

Other possibilities to further enhance the project that are under consideration involve monetising accessory metals including vanadium, battery-grade manganese, high-purity alumina and chromium.

Notes:

1 Calculated using a 0.5 % nickel cut-off, 2 m minimum intercept, and 4 m maximum internal waste

2 0.5 % nickel cut-off, 2m minimum intercept, and 4m maximum intern waste, previous report 2017 core hole

3 Drill-holes for the Pamela Jean deposit are listed first by section (south to north, then by hole west to east)

4 Calculated using a 0.50 % nickel cut-off, 2 m minimum intercept, and 4 m maximum internal waste, for "including" intercept 0.08% Co cut-off

To view figures, please visit:
http://abnnewswire.net/lnk/M5MF1A26

Ardea Resources Limited: 
Ms Katina Law
Executive Chair
Tel: +61-8-6244-5136

Mustang Resources Ltd (ASX:MUS) Changes Name to New Energy Minerals

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Mustang Resources Limited ("Mustang", the "Company") (ASX:MUS) is pleased to announce that following approval by shareholders on 2 October 2018 and registration by the Australian Securities and Investment Commission (ASIC), the Company's corporate name has changed to "New Energy Minerals Ltd", to reflect its focus on vanadium and graphite exploration and mining, critical commodities for the rapidly growing New Energy Market.

Highlights

- Following approval by shareholders on 2 October 2018 and registration by the Australian Securities and Investment Commission (ASIC), the Company's corporate name has changed to "New Energy Minerals Ltd"

- The name change reflects the Company's focus on vanadium and graphite exploration and mining, critical commodities for the rapidly growing New Energy Market.

- The Company will trade under the Deferred Settlement Code "ASX MUSDE", until around the 12th of October, or once the share consolidation is complete. After which, it will revert back to "ASX MUS", before the new ticker symbol "ASX NXE" is implemented on/around the 15th of October.

Following completion of the 1:10 share consolidation by 12 October 2018, Mustang will immediately initiate the process of changing the company's name on the Australian Securities Exchange (ASX) system with the new ticker to become "ASX NXE". The new name and ticker are expected to be active on/around 15 October 2018.

Shareholders are notified that until the share consolidation process is completed by the ASX, the Company will trade under the ASX Deferred Settlement ticker code "ASX MUSDE".

New Energy Mineral's Managing Director Bernard Olivier commented "Given the Company's rapid development of the world-class Caula Vanadium-Graphite project, we believe it to be an appropriate time to rebrand the Company to 'New Energy Minerals', to accurately emphasise our focus on the new energy market and the key commodities that make energy storage and electric vehicle transportation possible."

"We look forward to taking shareholders with us on this new journey over the next few years, as we advance the Caula project in Northern Mozambique, with a focus on progressing it to Phase 1 production by H2-2019 and beyond."

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

Cobalt Blue Holdings Limited (ASX:COB) Annual Report to Shareholders

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Cobalt Blue Holdings Limited (ASX:COB) (OTCMKTS:CBBHF) provides the Company's Annual Report to shareholders.

Highlights and Achievements

Thackaringa Cobalt Project

- Substantial drilling campaign completed at Thackaringa (20,000 metres) - 20 December 2017

- Declared a combined 72Mt Inferred and Indicated Resource @ 852 ppm cobalt - 19 March 2018

- Pre-Feasibility Study completed - Results justify progressing towards Bankable Feasibility Study. Key conclusions included long life, low cost, large scale operation. Optimisation Studies commenced - 30 June 2018.

Corporate

- Raised A$2.5m in oversubscribed offer - November 2017

- Raised A$7.8m - placement to LG International - April 2018

- Commercial Visit - China/Korea/Japan - November 2017

- Commercial Visit - China/Korea/Japan - March 2018

- Corporate Office relocation to Level 17, 100 Miller Street North Sydney - May 2018

To view the Annual Report, please visit:
http://abnnewswire.net/lnk/3446F5R3

Joe Kaderavek
Chief Executive Officer
Cobalt Blue Holdings Limited
Ph: +61-2-9966-5629
Website: www.cobaltblueholdings.com
Email: info@cobaltblueholdings.com

Anatara Lifesciences Ltd (ASX:ANR) 2018 Annual Report

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Anatara Lifesciences (ASX:ANR) is pleased to release its Annual Report, for the year ended 30th June 2018.

Anatara's newly appointed Chair, Sue MacLeman, released the following statement:

Dear Shareholders,

I am pleased to release our 2018 Annual Report and would like to use this opportunity to formally introduce myself as the new Chair of Anatara's Board of Directors. Since joining the Company last month, I have been impressed by the dedication and enthusiasm of the Anatara team, and I am excited about the journey and opportunities ahead as we embark on new and innovative projects in human gastrointestinal health.

Before looking ahead however, I would like to take this opportunity to reflect on and thank the Board members and management who have more recently moved on from the Company - co-founders Dr Mel Bridges and Dr Tracey Mynott and Directors Mr Iain Ross and Mr Paul Grujic. They all served tirelessly during their time with Anatara and made significant and substantial contributions to the Company over many years.

With the foundations they put in place and Anatara's strong expertise in developing products for animal and human health, including the successful licensing of our first product to leading global animal health company, Zoetis, we are now shifting focus towards building a pipeline of human gastrointestinal health products.

Through a targeted product development program, we are committed to delivering positive outcomes for patients and driving value for shareholders by developing scientifically innovative and commercially attractive products for gut health in areas of critical need.

Irritable Bowel Disease (IBD) and Inflammatory Bowel Syndrome (IBS) are two such areas where we have identified a large market opportunity and as a result we are currently focusing our efforts on developing our Gastrointestinal ReProgramming (GaRP) dietary supplement, which is designed to manage the chronic symptoms associated with both conditions.

In the coming year, Anatara will complete its proof of concept studies which support the effectiveness of GaRP in managing the symptoms of IBD and IBS and restoring and maintaining good gut health. In parallel, we will commence formulation development studies to produce an enterically coated, dual-release preparation ready for clinical testing. Further to this, Anatara plans to conduct dose optimisation and efficacy testing in an accepted animal model in 2019, while advancing discussions with suitable partners for commercialisation of the product.

We are in the process of recruiting a human health focused CEO and hope to provide an update to the market on this appointment soon. We are also putting in place an Advisory Board to help guide the development and commercialisation of our gut health products.

As we push ahead with our well-advanced plans in human gut health, I look forward to meeting with more of our investors and potential partners over the coming months to keep you across our progress.

On behalf of the Board, I invite those shareholders who can make it along to our Annual General Meeting. This year it will be held in Melbourne at the offices of Thomson Geer, Rialto South Tower, Level 39, 525 Collins Street, from 11am (EDST) on the 12th November 2018.

I thank you for your support of Anatara and anticipate a year of strong progress ahead.

To view 2018 Annual Report, please visit:
http://abnnewswire.net/lnk/0D5T203V

Investor inquiries
Sue MacLeman
Chair
Anatara Lifesciences
T: +61-437-211-200
E: smacleman@anatara.com

Media inquiries:
Cherie Hartley
PR Director
IR Department
T: +61-418-737-030
E: cherie.hartley@irdepartment.com.au

Classic Minerals Ltd (ASX:CLZ) Short Form Prospectus

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Classic Minerals Ltd (ASX:CLZ) provides the Company's Prospectus.

Offer

For the conditional offer of 1,000 Shares to the Public at an issue price of $0.01 each to raise $10 (Offer).

Cleansing

This Prospectus has also been prepared primarily for the purposes of section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of certain Shares issued prior to the date of this Prospectus. Please refer to Section 4.3 for further details.

Underwriting

The Offer is not underwritten.

To view the Prospectus, please visit:
http://abnnewswire.net/lnk/T6H8WI8N

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

Alt Resources Ltd (ASX:ARS) Exploration Update Bottle Creek Gold Project

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Alt Resources Limited (ASX:ARS) ("Alt or the Company") is pleased to provide the following information on exploration progress at the Bottle Creek Gold Project. Challenge Drilling has completed an 3000 metres of the planned 5000 metre Phase 3 RC drilling program at the Company's flagship Bottle Creek Gold Project with all sampling from the RC program delivered to ALS laboratories in Kalgoorlie. Assayed results will be announced to the market over the coming weeks.

Highlights

- 3000 metres Phase 3 RC drilling program now completed at Bottle Creek

- Additional 2000 metres to be drilled in October

- All sampling delivered to ALS Kalgoorlie lab with assays expected in coming weeks

- All conditions now satisfied to complete "Option to Purchase Agreement" Bottle Creek Gold Project

- Favourable settlement terms for payment of the Bottle Creek Gold Project negotiated with the Vendor and announced (see Note below)

- First resource upgrade on schedule for delivery in October 2018

Challenge will be drilling a further 2000 metres of RC to complete the planned 5000 metres of Phase 3 drilling by end of October. Phase 3 is testing directly north of the mined VB pit, an unmined section of the project between the VB and Boags pits and directly south of the unmined Southwark deposit (see Figure 2 in link below). All Phase 3 drilling is designed to bring additional resource ounces into the resource table quickly with the Company twinning designated holes validating historical drilling and adding additional drill fences as infill.

The Company is fast tracking resource drilling and historical drill hole validation at the Bottle Creek Gold Project to bring the resource as quickly as possible towards a critical mass for mine planning and a feasibility study. Resource upgrades will be announced sequentially as Phase 2 and Phase 3 results are input and modelled by resource geologists. We expect to announce Phase 2 resource upgrade in October with the 3rd Phase resource upgrade to be announced by the end of the 2018.

The Company considers Bottle Creek to have the potential to underpin a stand-alone processing plant in the northern end of the Mt Ida gold belt with significant sunk capital in the project by the previous miner Norgold with Figure 3 (see link below) showing the VB and Boags pits, the Bottle Creek airstrip, tailings dams and the pre stripped Emu deposit as indicative of some of the existing infrastructure expenditure and sunk capital in the project.

Alt is actively pursuing other opportunities in the Mt Ida region including acquiring assets close to the Bottle Creek mining leases which may be considered stranded assets by other exploration and mining companies.

Note: http://www.abnnewswire.net/press/en/94730/

To view figures, please visit:
http://abnnewswire.net/lnk/8X4WH2K8

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

Goldfields Money Ltd (ASX:GMY) Key Operating Metrics - August 2018

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Goldfields Money Limited (ASX:GMY) ("Goldfields Money" or the "Company") is pleased to provide the following trading update for the month ended 31 August 2018.

Managed loan settlements, aggregation settlements and recruitment of loan writers are key operating metrics as they drive both transactional and recurring revenue streams. Recurring revenues are made up from interest, trailing commissions, management fees, transactional fees on trailing commissions, platform fees, compliance fees and software as a service subscription fees.

Due to the time it takes to aggregate the data the timing of each monthly report will be approximately 5 weeks from month end i.e. September 2018 metrics will be released around the end of the first week of November 2018. As previously noted the Company intends to provide this information on a monthly basis for the first half of FY19.

Trading Update August 2018

The month ended 31 August 2018 showed continued strong performance for both Goldfields Money and Finsure with increases across all key operating metrics including managed loans settlements, aggregation settlements and recruitment of loan writers:
------------------------------------------------------------ 
                             August 2018      Change on PCP 
------------------------------------------------------------
Managed Loan Settlements  
(During August)               $84m             +435% 

Aggregation Loan Settlements  
(During August)               $1.15b           +16% 

Total Loan Writers 
(At end of month)              1,475           +21% 
------------------------------------------------------------

Investor / Media Enquiries
Simon Lyons
Managing Director
Goldfields Money
Ph: +61-417-178-325

Deep Yellow Limited (ASX:DYL) Upgrades to Trade on the OTCQX Best Market in the U.S.

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Deep Yellow Limited (ASX:DYL) (OTCQX:DYLLF) (Namibian Stock Exchange:DYL) is pleased to announce that the Company's ordinary shares have been approved for trading on the OTCQX Best Market in the United States (U.S.) having upgraded from the OTCQB Venture Market.

HIGHLIGHTS

- Deep Yellow qualifies to trade on OTCQX--the top tier of OTC Markets

- Allows more U.S. brokers to trade Deep Yellow securities and increased visibility.

"We are pleased to qualify to upgrade to the OTCQX Best Market after successfully building shareholder value and visibility on the OTCQB Venture Market," said John Borshoff, Managing Director/CEO. "This is evidenced by the fact that Deep Yellow's shares have markedly improved trading with our thirty-day average trading volume in the U.S. more than doubling since we began trading on the OTCQB Market. By upgrading our shares to OTCQX, we believe this move signals to investors that Deep Yellow represents the highest standards by joining peer companies that meet high financial standards, follow best practice corporate governance and are distinguished by the integrity of their operations".

The securities law firm Sichenzia Ross Ference Kesner LLP served as the Company's OTCQX Sponsor and Viriathus Capital LLC served as the Company's financial advisor.

John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au
www.deepyellow.com.au

Collaborate Corporation Ltd (ASX:CL8) Custom Fleet Signs Agreement with DriveMyCar

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Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to announce that Custom Fleet has signed an agreement for the supply of vehicles to the DriveMyCar marketplace. Custom Fleet is Australia and New Zealand's premier fleet management organisation with over 2,400 customers in metropolitan and regional Australia.

Custom Fleet will provide vehicles in Sydney, Melbourne and Brisbane for collection from central locations. Additionally, vehicles are intended to be available for pick up from DriveMyCar's locations at Sydney and Melbourne airports. This new supply channel of quality vehicles will be available to private renters, business customers and Uber drivers.

The initial launch will be in October in Sydney, Melbourne and Brisbane featuring thirty Subaru Forester vehicles with the potential for more vehicles and more locations to be added as demand increases.

Collaborate CEO, Chris Noone commented "We are very pleased to commence working with Custom Fleet to provide our customers with a large fleet of quality vehicles in key locations as we gear up for increased demand in the warmer months".

Michael Ortolan, Chief Risk Officer for Custom Fleet said "Custom Fleet is looking forward to developing a mutually beneficial relationship with DriveMyCar to broaden our fleet's utilisation. We believe DriveMyCar have forged a niche in the peer to peer rental space and we expect the partnership to grow".

Collaborate Corporation Limited
Tel: +61-2-8889-3641
E: shareholder@collaboratecorp.com 
W: www.collaboratecorp.com

Queensland Bauxite Ltd (ASX:QBL) Office of Drug Control Manufacture Licence Secured

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The Board of Queensland Bauxite Limited (ASX:QBL) (or "the company") is pleased to announce that its soon to be wholly owned subsidiary, Medcan Australia, has secured a Medical Cannabis Manufacture Licence under the ODC (Office of Drug Control).

This licence will allow Medcan, subject to individual permit issue, the ability to manufacture its range of products, including but not limited to:

- Dried flower finished products

- Full extract oils

- Tinctures

- Capsules

- Medicinal cannabis products manufactured in Australia under a GMP Licence

- Medicinal cannabis products listed as export-only or registered in the ARTG

- Extracts of cannabis (or cannabis resin) manufactured under a Narcotic Drugs Act 1967 Licence that are not in the final dosage form

- The Contract manufacture of other licenced producers' products

Medcan Australia's CEO, Craig Cochran commented, "We are extremely happy to secure our Manufacture Licence. This is the last ODC (Office of Drug Control) licence required for us to complete our vertically integrated business model".

Medcan has also secured a QLD Health Licence allowing for the storage of Schedule 9 substances, including Cannabis Seeds; and a DAWR Permit (Department of Agriculture and Water Resources Permit) allowing for the importation of plant materials, specifically cannabis seeds.

Medcan currently holds the following valuable ODC, Federal & State licenses:

o ODC Medical Cannabis Cultivation and Production Licence

o ODC Import Licence

o ODC Medical Cannabis Manufacture Licence

o ODC Export Licence

o DAWR (Department of Agriculture and Water Resources) Permit

o QLD Health Licence - Schedule 9 Substances

Pnina Feldman, Executive Chairperson of QBL said, "We are very pleased that Medcan has secured this valuable manufacture licence thus ensuring the continuing development of our Medical Cannabis project in Australia and finally completing the company's second fully vertically integrated business model, in the nutritional and medical Cannabis industries. The Medcan team continue to impress us with their professionalism and expertise, and being one of the only MM companies now in Australia to have secured all these valuable ODC Medical Cannabis licences. We look forward to working together, with our International network of experienced and dedicated team members, who will continue to build on these achievements to create shareholder wealth."

Queensland Bauxite Ltd
Tel: +61-2-9291-9000

For further information or any queries please email the Company at:
sfeldman@queenslandbauxite.com.au

MNF Group Ltd (ASX:MNF) Earnings Guidance and Investor Presentation

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The Board of Australian communications specialist MNF Group (ASX:MNF) is pleased to announce its FY19 & FY20 guidance, incorporating the upcoming acquisition of the wholesale and enablement business from Inabox Group (ASX:IAB). The company will present these forecasts, together with a more in-depth overview of the transaction, at the upcoming investor webinar at 3:00pm, Wednesday 10 October.

Combined FY19 forecast includes 7 months contribution from TIAB and includes funding costs and estimated amortisation expense.

EBITDA excludes net interest, acquisition costs and non-cash option costs.

Please see presentation for further details and commentary on the acquisition and the guidance.

Investor Presentation

Further information and a consolidated forecast will be provided in an investor webinar scheduled for 3:00pm, Wednesday 10 October. Details found at: http://mnfgroup.limited/investors

The company encourages interested investors and shareholders to attend the webinar, as due to timing and our upcoming AGM, the management team will be unable to accommodate one-on-one meetings.

To view tables and the presentation, please visit:
http://abnnewswire.net/lnk/MADL2QP9

Rene Sugo, Group CEO
E: rene.sugo@mnfgroup.limited
T: +61-2-8008-8080

Renee Halliday, EA to Group CEO
E: renee.halliday@mnfgroup.limited
T: +61-2-8008-8231

PlayChip Announces Conor McGregor Coach Owen Roddy as Brand Ambassador

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The PlayChip has continued its heavy role in sports sponsorships (see Note below), with the Universal Gaming Token adding highly-regarded striking coach Owen Roddy, amongst other members of Team McGregor, to its team of ambassadors. The company is also negotiating an ambassador role with McGregor himself.

Roddy is a senior member of Conor McGregor's coaching staff and a close personal friend to the former UFC Lightweight and Featherweight champion. The agreement with PlayChip was reached last week in the build-up to what some had billed as the fight of the century, a part Roddy played a heavy role in promoting via a series of blogs on his YouTube and Instagram page.

McGregor was defeated by submission in the fourth round of Saturday's hugely anticipated bout against his Russian counterpart. The loss was only his fourth in MMA since turning pro. The fight ended in a highly controversial manner when Nurmagedov turned his attention to fellow PlayChip holder and McGregor teammate Dillion Danis, leaping the fence in an apparently unprovoked attack.

Teammates of the Russian followed suit, jumping into the ring and ambushing McGregor with a flurry of punches.

It was a disappointing end to what had otherwise been a fantastic spectacle in MMA fighting. Head of Blockchain for the PlayChip Luke Lombe was in the venue to witness one of the biggest events in UFC's history.

"We were disappointed to see such behaviour after such an evening of mixed martial arts at its finest," he said.

"While the post-fight actions cannot be condoned, it is pleasing to see Team McGregor and Owen turn their attentions towards a future rematch. Like the PlayChip with cryptocurrency, Owen and his team have had a huge role in promoting MMA to a record global audience and will continue to do so. We are excited to be a part of that journey."

Roddy joins international cricketing icon Brett Lee in his ambassador role with PlayChip, the exclusive cryptocurrency of an online gaming ecosystem consisting of eight platforms and over 1,000,000 users. A number of exciting promotions are expected to be announced in the coming weeks, including the opportunity to train with the world-renowned coach.

The PlayChip is still in its pre-sale with tokens available at http://www.playchip.global

About PlayChip

PlayChip is the Universal Gaming Token for sports betting, gaming, fantasy sports, and eSports, at the centre of an incentivised, blockchain-enabled sports community and gaming ecosystem. The PlayChip Ecosystem consists of seven independent partner platforms with more than a million users across over 70 countries. The PlayChip ecosystem is designed to be secure, scalable, simple to use, and fun, as well as include features to incorporate provable fairness into PlayChip transactions and the partnered gaming platforms, making it the gaming token of choice around the globe.

For more information, please visit: http://www.playchip.global/

or read the PlayChip Whitepaper: http://abnnewswire.net/lnk/26PCD747

Note: http://www.abnnewswire.net/lnk/00374073

Liam Kirby
PlayUp Content Manager
E: Liam.kirby@playup.com
M: +61-478-742-910

Intermin Resources Limited (ASX:IRC) Latest Drilling Grows Anthill Gold Project Strike Length to Over 400 Metres

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Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce reverse circulation ("RC") drilling results from the 100% owned Anthill gold project located 54km northwest of Kalgoorlie-Boulder in Western Australia (see Figure 1 in link below). The project comprises granted Mining Lease M16/531 over greenstone rocks situated within the highly prospective Zuleika Shear Zone, which hosts numerous high-grade gold deposits (see Figure 2 in link below).

HIGHLIGHTS

- Resource extension drilling completed at the 100% owned Anthill gold project on the Zuleika Shear, 45km north-west of Kalgoorlie - Boulder in the Western Australian goldfields

- A total of 122 Reverse Circulation ("RC") holes for 15,118m were drilled to an average depth of 120m and maximum depth of 284m

- Drilling focussed on extending the 120m of strike length that contains the current Mineral Resource estimate of 1.42Mt @ 1.72 g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 1 below)

- New results have extended the known strike length to more than 400m with significant mineralisation intersected, including(see Note 2 below):

o 31m @ 3.28 g/t Au from 112m including 1m @ 31.7 g/t Au from 130m (AHRC18079)

o 19m @ 2.70 g/t Au from 57m (AHRC18092)

o 10m @ 2.79 g/t Au from 80m (AHRC18051)

o 12m @ 2.00 g/t Au from 36m (AHRC18043)(see Note 3 below)

o 4m @ 8.13 g/t Au from 60m (AHRC18119)(see Note 3 below)

o 8m @ 1.92 g/t Au from 96m and 4m @ 7.67 g/t Au from 112m (AHRC180116)(see Note 3 below)

o 13m @ 1.44 g/t Au from 43m, 6m @ 1.00 g/t Au from 66m, 3m @ 2.70 g/t Au from 112m (AHRC18079)

- Mineralisation intercepted to the north, south and east beyond the current resource envelope and remains open in all directions

- Twenty four exploration air core and RC holes for 1,666m completed 2.5km NW of Anthill and confirmed two new prospects, Fire Ant and Tree Ant. Significant results include(see Note 2 below):

o 5m @ 2.45 g/t Au from 33m and 1m @ 0.91 g/t Au from 44m (ARAC1808)

o 4m @ 0.69 g/t Au from 32m and 8m @ 1.37 g/t Au from 80m (ARRC1815)(see Note 3 below)

o 4m @ 1.08 g/t Au from 72m (ARRC1822)(see Note 3 below)

- An updated Mineral Resource for Anthill is expected in the December Quarter with open pit mine development studies and further drilling scheduled for March Quarter 2019

- Further assays are pending and expected within the current Quarter with the rigs now drilling at the Binduli and Blister Dam gold projects

Commenting on the success of the Anthill program, Intermin Managing Director Mr Jon Price said:

"These latest results from Anthill continue to demonstrate the potential scale and quality of the orebody that continues to grow with each drilling campaign and certainly justifies our belief that the Zuleika Shear can deliver new large scale open cut and underground gold deposits."

"Once we receive the final assay data we will compile an updated Mineral Resource Estimate in the current December Quarter and progress future development studies in early 2019."

Overview

In February 2018, Intermin commenced a self-funded $4M, 55,000m drilling program across its 100% owned Kalgoorlie gold projects. The major drill program is focussed on new discoveries and resource extensions at the key Teal, Anthill, Binduli and Blister Dam gold projects.

Drilling at Anthill commenced in the June Quarter with 122 resource holes (mostly RC) completed for 15,118m to an average depth of 120m and maximum depth of 284m. The drilling focussed on resource extensions to the north, south and east of Anthill which currently contains a JORC 2012 Mineral Resource Estimate of 1.42Mt @ 1.72g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 1 below).

The geology at Anthill is dominated by a variolitic basalt with lesser amounts of porphyry and ultramafic rocks observed. At least two mineralised trends (NW and NE) are evident and add to the geological complexity at Anthill. The sequences sits within a synclinal structure. The gold mineralisation is pervasive and occurs in a number of settings, the most important being a quartz stock work or thin veins with carbonate-sericite-silica-sulphide alteration. Some of the gold is coarse and is easily visible in panned RC chips.

Two areas of significant mineralisation outside of the current resource envelope have now been discovered. Anthill South is dominated by the NW "Zuleika Shear" structure and appears to be the strike extension of Anthill. Anthill East looks to be more controlled by a NE cross structure and lacks significant primary ore at depth. The bulk of the ore being supergene/transitional ore.

Additional ore zones have also been extended from Anthill to the north and west (see Figure 3 in link below). Mineralisation remains open both along strike and at depth. Further resource extension drilling is planned for 2019.

As previously mentioned in the 21 August 2018 ASX release, to the north of Anthill drill holes AHRC18001 (best result 2m @ 7.08g/t Au and 10m @ 1.11 g/t Au), AHRC18002 (best result 20m @ 1.62g/t Au and 10m @ 1.27g/t Au) and AHRC18004 (best result 15m @ 1.79g/t Au) all intersected significant mineralisation where historic holes were drilled at opposite angles or to an insufficient depth to reach target structures(see Note 2 below).

Drilling to the south of Anthill delineated another 140m of strike length to Anthill. The mineralisation is similar to Anthill, but appears to be more patchy, possibly the result of structural complexity. All the westernmost holes appear to warrant further "up dip" drilling to the west. Best results at Anthill South include(see Note 2 below):

- 31m @ 3.28 g/t Au from 112m including 1m @ 31.7 g/t Au from 130m (AHRC18079)

- 19m @ 2.70 g/t Au from 57m (AHRC18092)

- 10m @ 2.79 g/t Au from 80m (AHRC18051)

- 8m @ 1.92 g/t Au from 96m and 4m @ 7.67 g/t Au from 112m (AHRC180116)

- 4m @ 15.50 g/t Au from 56m (AHRC18057)

- 13m @ 1.44 g/t Au from 43m and 3m @ 2.70 g/t Au from 112m (AHRC18079)

- 1m @ 24.10 g/t Au from 79m (AHRC18038)

At Anthill East, the mineralisation spans about 160m in length. Anthill East has a pronounced cross structure orientation (NE/SW) and has recorded significant lengths of supergene or oxide ore along the main trend. Better results include(see Note 2 below):

- 10m @ 2.77 g/t Au from 80m (AHRC18051)

- 4m @ 7.65 g/t Au from 52m (AHRC18090)

- 8m @ 2.33 g/t Au from 68m (AHRC18091)

- 12m @ 2.00 g/t Au from 36m (AHRC18043)

- 4m @ 8.13 g/t Au from 60m (AHRC18119)

- 6m @ 2.56 g/t Au from 49m (AHRC18046)

Updated cross sections at Anthill are shown in Figures 4-7(see Note 2 below). They show a series of stacked lodes variably dipping to the north east. A new cross section across Anthill South and Anthill East is also shown in Figure 8(see Note 2 below).

Anthill Regional Exploration

A total of six targets were tested in an area about 2.5km north of Anthill. Several of these targets were drilled beneath historic holes that had been terminated in mildly anomalous mineralisation (>0.1 g/t Au) or had anomalous surface Au geochemistry. These targets were later confirmed in sampling conducted by Intermin.

The drilling was first conducted with a small air core rig, but this proved unsatisfactory as it was not able to drill to the predetermined depths. An RC rig was then mobilised to complete the program. A total of 24 holes for 1,666m were drilled. The drilling was highly successful in delineating two new prospects at Fire Ant and Tree Ant. These are the best results to date outside of the Anthill area on M16/531 and included(see Note 2 below):

- 5m @ 2.45 g/t Au from 33m and 1m @ 0.91 g/t Au from 44m (ARAC1808, Tree Ant)

- 4m @ 0.69 g/t from 32m and 8m @ 1.37 g/t Au from 80m (ARRC1815, Tree Ant)(see Note 3 below)

- 4m @ 1.08 g/t Au from 72m (ARRC1822, Tree Ant)(see Note 3 below)

- 4m @ 1.36 g/t Au from 64m (ARRC1821, Tree Ant)(see Note 3 below)

- 2m @ 1.32 g/t Au from 40m (ARAC 1803, Fire Ant)

At Fire Ant, small amounts of disseminated cubic pyrite were observed in the bedrock sediments along with anomalous mineralisation. At Tree Ant, the drilling intersected graphitic shales and sediments. The gold is possibly supergene in nature and reflects a deeply developed weathering profile. Intermin considers this drilling to be early stage exploration, as further work needs to be done to review and optimise the drill direction and depth. Following this, Tree Ant and Fire Ant will be priority follow up targets in 2019.

Further assay results and 1m splits are expected in the current December Quarter.

Next Steps

On receipt and validation of the all assay data, Intermin will compile an updated Mineral Resource for the Anthill gold project for release in the current December Quarter.

Further resource drilling is planned for the Anthill South and Anthill East areas in 2019, together with further resource extension drilling to the north and at depth. The high grade intercept at Anthill South (AHRC18079 - 31m @ 3.28 g/t Au) will be investigated in more detail via diamond drilling to further increase structural knowledge of the area.

Exploration drilling is also planned for the regional prospects in 2019. Tree Ant and Fire Ant both offer potential for significant mineralisation beneath a highly depleted weathering profile. Further refinements in the drill direction are anticipated.

Open pit mine development studies have also commenced with initial optimisation and design work expected for completion in the March Quarter 2019. Additional metallurgical testwork will also be completed on new representative samples to confirm previous results where recoveries ranged from 93% to 99% with a high gravity recoverable component (17% to 78%)(see Note 4 below). The statutory approvals process has also commenced ahead of Feasibility Study release planned for 2019.

Notes:

1 as announced to the ASX on 13 March 2018,

2 see Table 1 on Page 8, Competent Persons Statements on Page 11, Forward Looking Statement on Pages 12-13 and JORC Tables on Page 14

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

4 as announced to the ASX by Metaliko on 21 April 2011

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Q02457KU

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

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

DroneShield Ltd (ASX:DRO) Release of DroneCannon RW

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DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("DroneShield" or the "Company") is pleased to announce a launch of the additional product DroneCannon RW(TM), in response to end-user requirements(see Note below).

- DroneShield releases DroneCannon Remote Weapon (RW)(TM).

- A lightweight, "soft kill" drone jammer for use with "hard kill" remote weapon stations.

- Enables third party manufacturers to offer a combined "hard kill/soft kill" layered counterdrone system.

- Can be used on a fixed site or a vehicle solution.

Historically, DroneShield has focused on "soft kill" counterdrone solutions, which means that DroneShield's products interdict drones through technological interference rather than physical kinetic impact. Military users around the world recognise that "soft kill" drone defences are particularly effective, however, they already have in service "hard kill" systems that are not drone defence-focused (a "hard kill" system is a conventional kinetic weapon that affects its target by physical impact, through bullets and other projectiles). User feedback is that many global militaries are seeking "soft kill" solutions that integrate with their existing "hard kill" systems.

Consequently, the newly-released DroneCannon RW(TM) is a lightweight "soft kill" counterdrone jammer which is designed for use on remote weapon stations (unmanned gun systems) as part of a combined "hard kill/soft kill" layered system. It is system-agnostic and can be integrated with any third party remote weapon station, thus allowing manufacturers of unmanned weapons systems to add a "soft kill" option to their existing products, which may already be in service.

The system is available for use either as a stand-alone, or a vehicle-mounted product.

Oleg Vornik, DroneShield's CEO commented: "The release of DroneCannon RW(TM) results in two important milestones for DroneShield. Firstly, DroneShield is now one of the very few defence and security companies enabling its customers to utilise a combination of soft kill and hard kill counterdrone solutions, with an optional detection add-on through other DroneShield products, all seamlessesly integrated into one system. Secondly, this system continues our entry into the on-vehicle counterdrone segment, following our recent Rapid ScoutTM partnership, something that is technologically challenging and unique in the market."

Note: DroneCannon RW(TM) has not been authorized as required by the federal communications commission ("FCC"). This device is not, and may not be, offered for sale or lease, or sold or leased, in the United States, other than to the United States government and its agencies, until such authorization is obtained. The use of DroneCannon RW(TM) in the United States by other persons or entities, including state or local government agencies, is prohibited by federal law. Laws limiting the availability of DroneCannon RW(TM) to certain types of users may apply in other jurisdictions, and any sales will be conducted only in compliance with the applicable laws. Jammer affects only frequencies at 2.4Ghz, 5.8Ghz and GPS/Glonass (optionally). Emergency broadcasts, cellphone communication and other dedicated channels will not be affected.

To view figures, please visit:
http://abnnewswire.net/lnk/S1I50K87

Oleg Vornik
CEO and Managing Director
Email: oleg.vornik@droneshield.com

Altech Chemicals Ltd (ASX:ATC) Mezzanine Debt Due Diligence Update

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Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to provide an update on the progress of detailed project due diligence by an independent technical consultant appointed by the proposed mezzanine debt and steam facility providers.

Highlights

- Due diligence commenced end of July 2018

- Advisian appointed as independent technical consultant

- Due diligence is well advanced and on track

- CRU Consulting appointed as HPA market due diligence consultant

- Construction to run concurrent to project finance close

On 11 May 2018 Altech announced that it had received an indicative non-binding mezzanine debt term sheet for a drawdown facility of US$90 million from a global investment bank for its proposed Malaysian high purity alumina (HPA) project. On 15 June 2018 Altech announced that it has executed an indicative non-binding term sheet for a US$60 million stream finance facility with a US based global alternative investment group.

The proposed mezzanine debt provider and the proposed stream facility provider appointed Advisian, the independent consulting arm of WorleyParsons Group, as independent technical adviser in July 2018. Project due diligence commenced on 27 July 2018 with a kick-off meeting in Frankfurt, Germany, which was attended by Altech management and representatives from m.Plan International (technical consultant to the senior lender - KfW IPEX-Bank); SMS group (Altech's appointed EPC contractor); the proposed mezzanine lender; the proposed stream facility provider; and Advisian.

Whilst Advisian has benefited from the extensive amount of information generated during senior lender due diligence, it is currently anticipated that Advisian will require until the end of November 2018 to finalise its work, resulting in a 4-month due diligence process. In comparison, senior debt due diligence took approximately 15 months to complete.

Assuming a positive result from the Advisian due diligence, the next step for both the proposed mezzanine lender and the stream finance facility provider will be to present the project to respective internal investment committees for final approval. An updated HPA market report from CRU Consulting is also likely to be commissioned prior to respective investment committee consideration. Upon investment committee approval, a binding term sheet and an exclusive mandate can be executed for each proposed facility. The processes of final loan documentation and the negotiation of inter-creditor arrangements with the senior lender can then proceed, then ultimately project finance close.

HPA plant construction in parallel to project finance close

The decision by the Company to equity fund Stage 1 construction of its proposed Malaysian HPA plant in parallel with project finance close, rather than wait for close to occur, is allowing project momentum to be maintained which is considered important by the Company given the forecast near-term surge in HPA demand. At the Company's Johor HPA site, clearance of the site is now complete, a ground-breaking ceremony was conducted on 8 August 2018 and geotechnical drilling is now also complete - allowing for the submission of a site development order application to local Johor authorities. Once the development order is approved, site earth works, drainage, foundation piling and the construction of a workshop building and of an electrical substation will commence.

Altech managing director, Mr Iggy Tan said "the mezzanine debt and stream facility technical due diligence is on track and proceeding as planned. Detailed project due diligence is a requirement of the respective proposed lenders internal credit approval processes and will take time to complete. Altech is working very closely with the proposed lenders to ensure a detailed evaluation of the project is successfully concluded. Importantly, the time taken to complete due diligence and to reach finance close will not hinder construction progress, as Stage 1 construction is already funded and will commence imminently. Construction of the Company's HPA plant will run in parallel to finance close."

Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com 

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com

Alligator Energy Ltd (ASX:AGE) Arnhem Land TCC4 Project Drilling Update

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Alligator Energy Limited (ASX:AGE) (Alligator or the Company) advises that it has completed its exploration drilling program at the TCC4 uranium prospect in the Alligator Rivers Uranium Province (ARUP) in Arnhem Land, Northern Territory. This work is in support of AGE's strategy to discover 100 Mlbs of uranium in the ARUP region.

Highlights

- Seven holes were completed to depths of between 200 and 400 metres over a strike length of 1600 metres (refer Figure 1 in link below).

- This is the first drilling in a very prospective 4 by 2km undercover target area and has been highly encouraging, and will provide valuable information for future targeting.

- The Cahill Formation (host formation for Ranger and Jabiluka) was intersected and drilled as anticipated.

- The unconformity between the overlying sandstone and the basement Cahill Formation was intersected as predicted, with depths varying from 108 metres to 209 metres.

- Significant alteration of host rocks was found in five holes, this is similar alteration to that found at known uranium deposits of the province.

- It is believed this alteration successfully reflects the SAM geophysics conductivity results.

- Alteration is located in both the Cahill and the overlying sandstone.

- While no significant intercepts of uranium were found based on scintillometer readings, selected assays are being sent for analysis and will be reported when complete.

There is now significant work to be undertaken over the coming weeks in finalising core logging and assaying, along with stratigraphic and lithological interpretation. This will then be collated into Alligator's geological database to allow re-interpretation of the geology and targeting based on these results.

Alligator has engaged one of the worlds most experienced uranium geologists to assist our exploration team in this task. The geologist has extensive global uranium experience and has been successful in exploration in both the ARUP, and the Athabasca basin in Canada.

AGE's CEO Greg Hall commented today: "The first drilling at the TCC4 prospect has, we believe, proved many aspects of our geophysics and geochemical targeting, and has provided excellent first in-ground geological information. We will be refining our models based around this for future planned work. While no immediate significant uranium has been identified based on scintillometer readings, we have covered only part of our target area. It must be remembered that even drilling 100m away from the Ranger deposits would have found no anomalous uranium mineralisation.

TCC4 uranium prospect drilling summary

Alligator advised on 4 September 2018 the commencement of its Alligator Rivers Uranium Province (ARUP) drilling program, targeting its advanced TCC4 uranium prospect.

Drilling at the TCC4 prospect has been conducted along four target lines across 1,600 metres at the north eastern end of a 4,000 metre long zone of coincident SAM geophysical and radiogenic pathfinder surface anomalies. This represents 40% of the anomalous strike length.

Seven holes for a total of 2138m were completed between 1st September and the 10th October (refer Table 1 in link below). Being the first holes targeting concealed uranium deposits under sandstone cover using Alligator's combined proprietary geochemical sampling and geophysical methods, results have proved highly encouraging.

From the seven holes drilled, five have intersected key target features, including:

- Graphitic schists of the Cahill formation.

- Brecciated basement structures not reflected in sandstone cover.

- Chlorite and haematite alteration in both basement and overlying sandstone cover.

- Garnetiferous schists comparable to Mid-Cahill found proximal to Ranger and Jabiluka.

- Carbonate veins at depth believed to be re-mobilised from deeper Lower Cahill formation.

These key features indicate geophysical and stratigraphic targeting has been successful with Lower Cahill indicated further to the north-west. The drill rig and drilling crew have now commenced demobilisation.

Over the coming weeks, ongoing geological interpretation and modelling will be completed to further refine future targeting methods and the interpreted location of Lower Cahill formation. Drill samples will be assayed for geochemical pathfinders, including radiogenic isotopes. Values will be modelled downhole and in conjunction with existing surface samples to further vector the source(s) of the TCC4 anomaly. Select samples will also be sent to NTGS for Hylogger analysis to identify potential hydrothermal clay alteration halos similar to those observed above the Angularli deposit, also in the ARUP. Once alteration, geochemistry and geology from this drilling have been modelled, it will be utilised to direct follow up drilling where favourable Lower Cahill stratigraphy is interpreted to intersect fertile structures proximal to the unconformity.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/4612O251

Mr Greg Hall 
Executive Director and CEO
Alligator Energy Ltd 
Email: gh@alligatorenergy.com.au

Mr Mike Meintjes
Company Secretary
Alligator Energy Ltd
Email: mm@alligatorenergy.com.au

Central Petroleum Limited (ASX:CTP) Latest Company Presentation

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Central Petroleum Limited (ASX:CTP) provides the Company's latest presentation.

Key achievements (last 12 months)

- Increased FY18 gas sales by 46% while remaining focused on safe, reliable and responsible operations

- Materially progressed 2 Facility Projects targeting a significant increase in gas production capacity to at least 41Tj/d by December 2018

- Contracted significant new gas supply commencing in December 2018 that will almost triple existing contracted volumes.

- Substantially completed a 2-well appraisal drilling programme (West Mereenie 26 completed, Palm Valley in progress)

- Awarded new CSG acreage in Queensland covering 77km2, targeting 150-180 PJ potentially recoverable

NGP -A catalyst for growth

- The NT gas market is small and oversupplied

- Our production assets and gas-prone exploration portfolio are currently market constrained, limiting growth

- In just 2 months, the Northern Gas Pipeline (NGP) will, for the first time, connect Central's gas assets to the critically short east coast gas market

- We are positioned to maximise initial gas sales through the NGP through our Gas Acceleration Programme (GAP). Contracted sales will nearly triple in 2019

- Significant upside in our gas assets is now possible as a result of the NGP

To view the full presentation, please visit:
http://abnnewswire.net/lnk/GPQQN5G1

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

Media Enquiries
Helen McCrombie at Citadel-MAGNUS
T: +61-2-8234-0103
M: +61-411-756-248

FINANCE VIDEO: Marquee Resources Ltd (ASX:MQR) Developing High Grade Cobalt Sulphide in Canada

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Marquee Resources (ASX:MQR) is exploring its Werner Lake cobalt-sulphide project in the province of Ontario, Canada. Discovered during the 1920s, the project became a small but high-grade mining operation in the 1940s. Since then, however (with the exception of a period during the 1990s in which a development study commenced but was not completed due to funding issues for the then owner), only limited work has been completed.

In early 2018, Marquee took control of the project and has since commenced a 6,000-metre diamond-drilling programme, the first in more than 15 years. Encouragingly, results to date confirm mineralisation that starts from surface, continues at depth to at least 220 metres (vertical) and remains open. Assuming continued success with the current drill programme, an initial JORC resource (TSI estimate - 4Q18) is likely to follow, with a development study likely to quickly follow (scoping or pre-feasibility).

Why cobalt?: Cobalt has been the standout commodity in the past year, its price more than doubling during that time - largely in response to increased demand for lithium-ion batteries, a major consumer of cobalt. Typically, when demand for a commodity increases, as is the case with other electric-vehicle related metals, supply also increases to meet it. This typically leads to the price stabilsing or, in some cases, falling due to over-supply. In the case of cobalt, however, a unique set of circumstances (among them political risk and the fact that, typically, cobalt is a by-product metal), we believe supply is unlikely to match the increase in demand without fundamental changes within the sector ... meaning higher prices are probably here to stay.

Sulphide or laterite: Cobalt is found in either sulphide or laterite mineralisation, the latter being the most of the ASX-listed cobalt developers. Compared to cobalt sulphide projects, cobalt laterite projects generally have a larger resource however at a lower grade. Combined with more challenging metallurgy, operating and capital costs are usually significantly higher for laterite project.

On saying this, with the exception of projects in the Democratic Republic of Congo, where ethically unsound mining practices and political unrest are cause for concern - very few primary cobalt sulphide deposits with the potential to commence production have been discovered to date.

Werner Lake - results to date: as noted, early results from the ongoing diamond-drilling programme at Werner Lake have been encouraging, with most intercepts at a grade similar to or higher than the NI 43-101 mineral resource (0.43% cobalt). Importantly, drilling has confirmed that the mineralisation is continuous from surface to a depth of at least 220 vertical meters and remains open.

Development potential: while more drilling is obviously required, we believe the company is on track to deliver a maiden JORC resource before the end of the year. Subsequently, a development study that takes into account historical work at the project (including the development study begun but not completed during the 1990s) is likely to commence thereafter, with completion potentially as early as the first half of 2019.

We do not anticipate an initial resource in the 'millions of tonnes'. However, given the grade of the 43-101 resource, promising drilling results to date, as well as the strength of the cobalt price, we believe even a modestly-sized operation (with low initial capital costs) has the potential to deliver significant operating margins that could be used to further explore the vast, yet largely under explored, total project package.

To view the video, please visit:
http://www.abnnewswire.net/press/en/94955/Marquee

Adam Kiley
Director
TSI Capital Pty Ltd
E: adam.kiley@tsicapital.com.au
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