Articles on this Page
- 10/31/18--16:54: _ Collaborate Corpor...
- 10/31/18--16:55: _ Cardinal Resources...
- 10/31/18--16:56: _ Altech Chemicals L...
- 10/31/18--17:21: _ The Betmakers Hold...
- 10/31/18--17:49: _ Cobalt Blue Holdin...
- 10/31/18--17:50: _ Australian Potash ...
- 10/31/18--17:51: _ Lake Resources NL ...
- 10/31/18--17:58: _ YPB Group Ltd (ASX...
- 11/01/18--15:21: _ Altech Chemicals L...
- 11/01/18--15:48: _ Myob Group Ltd (AS...
- 11/01/18--16:41: _ Thomson Resources ...
- 11/01/18--16:47: _ Lake Resources NL ...
- 11/01/18--17:19: _ Rhinomed Limited (...
- 11/01/18--17:55: _ The Hydroponics Co...
- 11/01/18--18:06: _ Environmental Clea...
- 11/01/18--18:10: _ Retech Technology ...
- 11/04/18--14:22: _ Deep Yellow Limite...
- 11/04/18--15:06: _ Nanollose Ltd (ASX...
- 11/04/18--15:33: _ MMJ PhytoTech Ltd ...
- 11/04/18--18:05: _ Classic Minerals L...
- 10/31/18--16:56: Altech Chemicals Ltd (ASX:ATC) Quarterly Activities Report
- 10/31/18--17:21: The Betmakers Holdings Limited (ASX:TBH) New Management Appointments
- 10/31/18--17:50: Australian Potash Ltd (ASX:APC) Quarterly Activities Report
- 10/31/18--17:51: Lake Resources NL (ASX:LKE) Quarterly Activities Report
- 10/31/18--17:58: YPB Group Ltd (ASX:YPB) Quarterly Report
- 11/01/18--15:48: Myob Group Ltd (ASX:MYO) Update on Indicative Proposal from KKR
- 11/01/18--16:41: Thomson Resources Ltd (ASX:TMZ) Drill Program Commenced at Bygoo Tin
- 11/01/18--17:19: Rhinomed Limited (ASX:RNO) Completes A$5.0 Million Capital Raise
- 11/01/18--18:10: Retech Technology Co Ltd (ASX:RTE) Q3 Quarter Update
- 11/04/18--18:05: Classic Minerals Ltd (ASX:CLZ) Commencement of drilling - Kat Gap
Collaborate Corporation Limited (ASX:CL8) (Collaborate or the Company) is pleased to announce that its DriveMyCar business unit has signed an agreement with Gateway Airport Parking Pty Ltd to provide airport pick up and ManageMyCar services at Brisbane Airport.
Through this agreement DriveMyCar will provide Brisbane airport pick up options for rental cars at Gateway Airport Parking 24 hours a day, 365 days a year including a complimentary shuttle bus to and from the airport.
In addition, DriveMyCar will offer the ManageMyCar service at Brisbane Airport enabling vehicle owners to have rental of their vehicles managed on their behalf including rental handovers and storage between rentals. This will provide a full service model to vehicle owners who wish to earn income from their vehicle while they are not using it for extended periods including holidays and working overseas or interstate. The ManageMyCar service will also be utilised to manage vehicles provided by corporate fleets and to facilitate rideshare rentals for Uber drivers.
Promotion of the rental pick up and ManageMyCar services from Brisbane airport will commence in November through DriveMyCar marketing channels nationally.
This new agreement builds on the launch of airport pick up and ManageMyCar services with Busy Beaver Airport Parking at Melbourne Airport announced on 29 May 2018 and the existing services operating in Sydney.
Chris Noone, Collaborate CEO, said "This new relationship with Gateway Airport Parking provides a solid foundation for ongoing growth in vehicle supply and demand by offering a comprehensive rental and management service in the Brisbane market."
Adam Wilson, Sales Manager at Gateway Airport Parking, said "DriveMyCar have shown a keen eye for development in Sydney and Melbourne markets, with a very competitive product and strong relationships. We look forward to working together for the good people of Brisbane."
Collaborate Corporation Limited Tel: +61-2-8889-3641 E: firstname.lastname@example.org W: www.collaboratecorp.com
Cardinal Resources Limited (ASX:CDV) (TSE:CDV) ("Cardinal" or "the Company"), an African gold focused exploration company, is pleased to present to shareholders its Quarterly Activities report for the period ended 30 September 2018. Currently Cardinal holds four tenements within the Bolgatanga Project, with Subranum comprised of a single tenement in central Ghana (see Figure 1 in link below).
- On September 28, 2018 the Company released its annual report on activities for the financial year of 2017/2018. The financial year has seen the expansion in the Namdini Mineral Resource through infill drill programmes, Maiden Ore Reserve and initial success in greenfields exploration.
- On September 18, 2018 the Company announced the completion of the Namdini Gold Project Pre-Feasibility Report ("PFS") with a Maiden Probable Ore Reserve of 4.76 Moz. The PFS study confirmed the Namdini Project to be technically sound and viable.
- On August 29, 2018 the Company announced extensions to the Ndongo East Discovery strike length from approximately 400m to 1.2km. Additional shallow gold intersections to the exploration drill results previously announced on 16 July 2018, were located at the new Ndongo East Discovery on the Ndongo License area.
- On July 31, 2018 the Company announced that it had received investment committee approval from and executed a term sheet with Sprott Private Resource Lending (Collector), L.P. ("Sprott") to be provided with a US$25 million senior secured credit facility ("Facility"). The Facility was subject to mutually satisfactory documentation and other customary conditions precedent and closed on 23 August 2018.
- On July 16, 2018 the Company announced that it had intersected further gold mineralisation at a new discovery named Ndongo East on its 100% owned Ndongo License, located approximately 20 km north of the Company's flagship Namdini Gold Project which has a 6.5 Moz Indicated Mineral Resource (see Figure 3 in link below).
To view the full report, please visit:
Archie Koimtsidis CEO / MD Cardinal Resources Limited P: +1-647-256-1922 P: + 61-8-6558-0573 Email: email@example.com
Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities Report.
Official ground breaking ceremony held at Johor HPA site
- Ground breaking ceremony at Malaysian HPA plant site
- Australian High Commissioner and German Ambassador to Malaysia unveil official opening plaque
- Ceremony attended by partners from Malaysia, Germany, Japan and Australia
- Initial Stage 1 construction works commencing
Patent granted for Kaolin to HPA production process
- Patent granted to Altech for its kaolin to HPA production process
- Affords protection to Altech and its unique 8 step production method
- Altech in a strong position to defend its intellectual property rights
Bullish outlook for HPA demand in the lithium-ion battery sector
- New emerging opportunity for HPA demand in the lithium-ion battery sector
- HPA coating directly onto lithium-ion battery anodes and cathodes
- Quality and consistency key for lithium-ion battery manufacturers
- HPA pricing at ~US$40,000/tonne in Korea and Japan
- Altech's new proposed supply welcomed by South Korean market
- Altech's proposed HPA product quality and capacity well received
Geotechnical survey at Johor site completed
- Geotechnical ground survey program completed
- Site topography, soil stability and soil analysis completed
- Part of Stage 1 construction works
Mezzanine debt due-diligence
- Due diligence process commenced end July 2018
- Advisian appointed as independent technical consultant
- Due diligence is well advanced and on track
Project funding status
- US$190 million senior debt package completed
- Mezzanine debt of US$90 million in due-diligence
- Target 65-70% debt-equity ratio
- Equity via a partial project sell down and/or share placement
- Construction is running concurrent to finance close
To view the full report, please visit:
Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: firstname.lastname@example.org Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: email@example.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: firstname.lastname@example.org
The Board of The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("TBH", the "Company") is pleased to announce two new senior management appointments.
Mr. Anthony Pullin has joined the Company as Chief Financial Officer and brings a wealth of experience, having worked in finance across the banking sector and for leading investment funds and private equity firms. Mr. Pullin has worked within private equity for the last 8 years, holding positions as Finance Director, Investment Principal and Non-Executive Director. Prior to this he was working with KPMG Sydney. He is a member of the Chartered Accountants Australia & New Zealand, and holds strong knowledge of financial reporting, business operations and corporate governance matters both in Australia and internationally.
Mr. Jake Henson has been promoted within the Company to Chief Operating Officer following his roles as Head of Operations and Head of Business Development since March 2014. Mr. Henson has been a key member of TBH for more than 4 years and holds 10 years' experience in the sports and wagering industries. Most recently he has overseen the integration of the Company's acquisitions, DynamicOdds and Global Betting Services, within the TBH business as well as introducing these end-to-end product offerings to TBH clients.
The Board would also like to advise that Paul Jeronimo has left the Company after 3 years in the role of Chief Financial Officer and 7 years of involvement with the Company. Mr. Jeronimo has played a significant part in TBH's development and the Company would like to thank him for his commitment and service and wish him every success for the future.
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
Cobalt Blue Holdings Limited (ASX:COB) (OTCMKTS:CBBHF) has commenced the largest single drilling campaign to date at Thackaringa - in excess of 15,000 metres will be drilled over the coming six months. Previously, between 2H 2016 and 1H 2018, COB has drilled a total of 20,445 metres consisting of 38 Diamond Drill (DD) holes, 93 Reverse Circulation (RC) drill holes, and three RC drill holes with diamond tails over three campaigns.
- The campaign has commenced with two DD and two RC drill rigs currently working on site; with 755 metres completed to date at Pyrite Hill.
- In separate negotiations, Essential Water has indicated that 1.2GL per annum of raw water is available for the Thackaringa Cobalt Project. A further 0.3 GL per annum could also be supplied with a minor capital upgrade to Essential Water's trunk main supply network. (The estimated water requirements specified in the PFS was 1.3 GL per annum).
2018-2019 Drilling Program Aims
The drilling campaign has five broad aims:
1. Improved Mineral Resource classification - defining Measured Resources.
2. Growth of Mineral Resources - exploration along margins of existing mineralised bodies.
3. Confirmation of the location of infrastructure and site layout - geotechnical, hydrogeological and sterilisation drilling for project infrastructure and process plant civil works.
4. Overburden definition - identification of oxide and/or transition layer(s).
5. Blue-sky exploration - follow up previously identified geophysical anomalies.
Improved Resource Classification
Based on the results of the PFS, COB is aiming to define a component of Measured Mineral Resources. This will require in-fill drilling at approximately 40 metre spacing to improve geological confidence and data density. During the Mining Study, Measured Mineral Resources will be evaluated for conversion to Proven Ore Reserves. Typically, the target quantity for Proven Ore Reserves would be sufficient to provide ore for the initial three to five year period of the proposed project production.
Additional in-fill drilling will target improved classification of Inferred to Indicated Mineral Resources. Indicated Mineral Resources will be evaluated for conversion into Probable Ore Reserves during the Mining Study.
Mineral Resource Growth
In the upcoming campaign, COB is aiming to increase the Inferred Mineral Resources by targeting down-dip extensions at the Pyrite Hill deposit and shallow strike extensions at the Big Hill and Railway deposits. COB is targeting a 20+ year mine life with growth of the overall Mineral Resource a key component of achieving this target. For clarity, future additional drilling campaigns are expected to be undertaken following completion of the 2H 2018 to 1H 2019 program which is described in this announcement.
Exploration targets identified for current and future phases of exploration drilling are summarised in Table 1(see link below).
Oxidation Boundary Definition
COB will drill near-surface holes to better define the oxide and/or transition oxide-sulphide layers which represent shallow overburden (10-25 metres) on top of the fresh sulphide ore. To date (in the PFS and Scoping Study), oxidised and partially oxidised material was excluded from the reported Mineral Resources and subsequently proposed mining and processing studies. The drilling campaign will identify if any cobalt is present through the oxidation profile, and if so, related metallurgical studies will then be undertaken.
Infrastructure and Site Layout
COB will complete additional drilling for the purposes of geotechnical, hydrological and hydrogeological assessment related to infrastructure, mining and process plant planning.
In September 2017, the entire project area (63km2) was surveyed using a heliborne electromagnetic (EM) survey (VTEM-Max) at a nominal 100 metre line spacing. Several strong EM responses outside of the existing Mineral Resources (Pyrite Hill, Railway and Big Hill) were identified and cross-checked with coincident geophysical (Induced Polarisation) and geochemical anomalism (see Figure 2 in link below). In the current drilling campaign, COB will undertake some preliminary drilling at these targets and further downhole geophysics (down-hole electromagnetics - 'DHEM') as warranted.
Drilling operations have commenced in October with the mobilisation of a versatile drilling fleet comprising two DD and two RC rigs. To date a total of 755 metres have been completed including 230 DD metres and 525 RC metres. DD drilling will support the continuation of geotechnical and geometallurgical studies within the broader feasibility framework while RC drilling will predominantly service the infill program.
The staged campaign is initially focused on the Pyrite Hill deposit which hosts a combined Indicated and Inferred Mineral Resource of 26Mt at 934ppm cobalt and 10.3% sulphur (at a cut-off of 500ppm cobalt and as released 19 March 2018 'Thackaringa - Significant Mineral Resource upgrade'). By capitalising on the existing and favourable drilling density, the infill program will target conversion of the Indicated Mineral Resource component (currently representing 85% of the Pyrite Hill Mineral Resource) to a Measured classification in accordance with the JORC 2012 Code.
Opportunities for Mineral Resource growth at Pyrite Hill will target down-dip extensions where the deposit remains open at depth below 50mRL (approximately 250m below surface) (see Table 1 in link below - target A).
It is anticipated the rigs will be deployed to the Railway deposit in late November with the program sharing similar objectives to that of the current Pyrite Hill drilling. Shallow parallel/strike extensions will be targeted by a nominal component of extensional drilling (see Table 1 in link below - target D & E) with further infill drilling to support an improved Mineral Resource classification.
Essential Water Update
Essential Water is a water retailer and distributer for the Broken Hill district, supplying treated water, recycled water and untreated water to retail and industrial customers. COB has been consulting with Essential Water for 18 months in order to source raw water required for the Thackaringa Cobalt Project. Essential Water has now confirmed that 1.2GL per annum of (unfiltered industrial) water is available for the Thackaringa Cobalt Project, with an additional 0.3 GL per annum available with a minor capital upgrade to the trunk main network. The estimated water requirements specified in the PFS was 1.3 GL per annum. This does not represent a guarantee of supply, but rather a milestone along the path to a formal service and supply agreement which will be negotiated when the project proceeds to commercial implementation status.
Cobalt Blue has the following beneficial interests in the tenements:
- EL 6622 - 70% beneficial interest
- EL 8143 - 70% beneficial interest
- ML 86 - 70% beneficial interest
- ML 87 - 70% beneficial interest
To view tables and figures, please visit:
Joe Kaderavek Chief Executive Officer Cobalt Blue Holdings Limited Ph: +61-2-8287-0660 Website: www.cobaltblueholdings.com Email: email@example.com
Australian Potash Limited (ASX:APC) (APC or the Company) is pleased to provide shareholders with its Quarterly Activities Report for the period ended 30 September 2018.
- Appointment of highly experienced and respected industry veteran Jim Walker to Chair the Board of APC
Lake Wells Sulphate of Potash (SOP) Project - 100% Owned, Western Australia
- Grant of Mining Leases covering proposed development envelopes of approximately 30,000Ha
- Co-operation agreement executed between APC and neighbouring SOP project developer Salt Lake Potash Limited (ASX:SO4)
- First successful transfer of brine from the pre-concentration pond to harvest pond 1 at the Pilot Evaporation Pond network at site
- Agreement entered into with Shire of Laverton to off-set Mining Lease rates against maintenance and upgrade of the Lake Wells access road
- Shire of Laverton commits to road-surfacing project for an additional 100kms of the Great Central Road, adding an additional 70kms of sealed road to the Lake Wells SOP Project's logistics solution
Lake Wells Gold Project - 100% Owned, Western Australia
- APC and St Barbara Limited (ASX:SBM) entered into a A$7M Earn In & Joint Venture Agreement covering tenure at the Lake Wells Gold Project
- $1.25M cash payment received from SBM post-quarter end
Managing Director and CEO, Matt Shackleton, commented: "We were very pleased to have Jim Walker agree to Chair the Company. Jim is a person of extensive experience across the sector, with a rich and successful history with some of the State's most iconic companies. I am looking forward to working closely with Jim as the definitive feasibility study comes to a head and we move into the next phase of the project life cycle.
"We achieved some important operational milestones during the quarter with the grant of mining leases required to develop and operate the Lake Wells SOP Project as well as the first successful transfer of brine. Over the next several weeks, among other activities the Company will produce trade samples of SOP, finalise reserve estimation work, and determine final evaporation pond design criteria. We are looking forward to early 2019 as we push towards finishing the Definitive Feasibility Study.
"We have always been very aware of the inherent value of the Lake Wells Gold Project. The Earn-In and Joint Venture Agreement we struck with St Barbara Limited supports the belief we hold in the exploration potential of the Yamarna region in general and our ground holding across it in particular. We are convinced that with a partner of the calibre of St Barbara our shareholders will be given the best chance of success."
"We are looking forward to building our relationship with the St Barbara team. I am confident that we now have the right people, right companies and right project area in place to generate some significant success at what is one of the State's very prospective and important mineral regions."
To view the full report, please visit:
Matt Shackleton Managing Director and CEO E: firstname.lastname@example.org M: +61-438-319-841 Sophie Raven Company Secretary E: email@example.com M: +61-400-007-906
Lake Resources NL (ASX:LKE) provides the Company's Quarterly Activities Report.
- Four lithium projects in prime locations in north western Argentina, with large lease holdings totaling ~180,000 hectares.
- Resource drilling advanced at the Kachi Lithium Brine Project with 14 holes for 3100 metres to depths of 400 metres, reinforcing size and consistency of clean brines over an area of 22 x 8 kilometres;
- Kachi brines extend from surface to 400-800m depth at in permeable sands.
- Consistent results of 326 mg/L lithium, with highest grades from the most recent drill hole, with low impurities and a low Mg/Li ratio of 3.7;
- Partnership with Lilac Solutions to assess Lilac's direct lithium extraction process for the Kachi lithium brine with the goal of establishing a rapid, robust, low-cost process for producing lithium.
- Lilac process demonstrated high recoveries of 80-90% lithium directly from Kachi brines, producing a brine concentrate of over 3,000 mg/L lithium;
- The Olaroz-Cauchari leases adjoin lithium brine production of Orocobre and development projects with world class lithium resources in the same basin as Orocobre and Ganfeng/(SQM)/Lithium Americas.
- Drilling underway at Cauchari to test geophysics-confirmed extensions of adjoining world-class brine resources;
- Option exercised over ~70,000 hectare pegmatite lithium project in Catamarca, a large area with small-scale production in the past, but limited modern exploration.
Lake Resources NL is an exploration and development company with one of the largest lithium lease holdings in Argentina of ~180,000 hectares with four prime lithium projects: 3 brine projects and 1 hard rock project. Each is capable of being a 'company maker'.
These include the Kachi Lithium Brine Project which covers ~54,000 hectares of consolidated mining leases over a previously undrilled salt lake; the Olaroz-Cauchari and Paso Projects in Jujuy province adjacent to Orocobre and Ganfeng/(SQM)/Lithium Americas; and the Catamarca Pegmatite Lithium Project (~72,000 hectares), with large pegmatite swarms over past production within a 150km long belt.
A maiden resource estimate is anticipated soon from the Kachi project. The large area of Kachi with a single owner appeals to battery makers, and is suited to a strategic investment/partnership. Drilling at Cauchari has already begun, and drilling over the Olaroz leases will commence soon. These are targeting extensions of known brine lithium resources of over 15 million tonnes LCE (Lithium Carbonate Equivalent).
To view the full report, please visit:
Steve Promnitz Managing Director Lake Resources N.L. T: +61-2-9188-7864 E: firstname.lastname@example.org
Anti-Counterfeit and Customer Engagement solutions provider YPB Group Ltd (ASX:YPB) presents a summary of activities for the quarter ended 30 September 2018.
Review of Q3 2018 Activities
- Q3 net operating cash burn falls 8% on Q2, 38% on Q1
- Most significant sales period in YPB's history
- Major technology breakthrough with smartphone readability
- Strategic investors to lead listing YPB Token in Q4 2018
To view the full report, please visit:
Mr. John Houston Executive Chairman YPB Group Limited T: +61-458-701-088 E: email@example.com Mr. Gerard Eakin Director YPB Group Limited T: +61-427-011-596 E: firstname.lastname@example.org W: www.ypbsystems.com
Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to provide an update on the numerous patent applications (pending) that it has lodged for its kaolin to high purity alumina (HPA) production process (Altech HPA Process), and the status of its recently granted Innovation Patent 2018101228.
- Total of seven (7) Patent Applications lodged for Altech HPA Process
- Five (5) Patent Applications lodged in Australia
- Two (2) Patent Applications lodged in Malaysia
- One (1) Innovation Patent granted in Australia - currently in examination
The Company is committed to placing itself in a strong position to protect its intellectual property rights. Accordingly, Altech has so far lodged seven (7) Patent Applications for the Altech HPA Process. Five (5) Patent Applications have been lodged in Australia, with one (1) application granted - Innovation Patent 2018101228. Two (2) Patent Applications have been lodged in Malaysia. The Patent Applications have been lodged in the name of Altech's wholly owned subsidiary, Altech Chemicals Australia Pty Ltd. Details of each Patent Application are summarised in Table 1, (see link below).
Granted Innovation Patent 2018101228
On 16 October 2018 the Company announced that it had received the Certificate of Grant for its Innovation Patent 2018101228 from the Australian Patent Office (IP Australia), for the Company's method of producing high purity alumina (HPA) from kaolin (aluminous clay). The prescribed process for an Innovation Patent following grant, is that the patent is examined by IP Australia and once the examination is passed, the Innovation Patent is certified then published. IP Australia recently issued its initial examination report for the Company's Innovation Patent 2018101228 (Examination report No. 1). In the section of the examination report titled "Novelty and Innovative steps", the innovation and novelty of the Altech HPA Process were queried; the Company now has a 6-month period to respond to IP Australia and remove grounds for revocation of the patent, else the Innovation Patent will cease. Interestingly, one of the queries raised in the Examination report was in relation to an innovation step previously filed by the Company, under the former name of its wholly owned subsidiary, Kaolin2alumina Pty Ltd.
The initial examination determination by IP Australia of the Company's Innovation Patent is not final nor binding, and the Company via its Patent Attorney WRAYS will now respond to IP Australia with further clarification and justification as to the innovation and novelty of the Altech HPA Process. It is the view of the Company and WRAYS that a significant and innovative step of the Altech HPA Process described in the Innovation Patent is the recycling and re-use of HCl gas, which previous patents did not deploy. WRAYS has advised Altech that a response to clarify patent innovation and novelty following an initial Innovation Patent examination is not unusual. The Company will keep shareholders updated as to the status of the various Patent Applications and the examination process.
The award of a patent to Altech (and its wholly owned subsidiary) for the Altech HPA process is not a condition precedent to draw-down of the KfW IPEX-Bank senior debt (US$190m).
To view tables, please visit:
Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: email@example.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: firstname.lastname@example.org Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: email@example.com
MYOB Group Limited (ASX:MYO) ("MYOB" or "Company") advises that, further to its ASX announcement dated 8 October 2018, it has determined to grant information access to KKR & Co. L.P. ("KKR"), subject to entry into a confidentiality agreement on terms satisfactory to MYOB. This is to enable KKR to progress its Indicative Proposal ("Proposal"). The Proposal remains subject to customary conditions including KKR's completion of due diligence and the resolution of its financing arrangements. KKR has increased its offer price to $3.77 per share.
An Independent Board Committee ("IBC") chaired by Justin Milne and including Anne Ward, Andrew Stevens and Fiona Pak-Poy was formed following receipt of the Proposal. The IBC will continue to assess and evaluate developments in relation to the KKR Proposal.
The MYOB Board notes that there is no certainty that the Proposal will result in an offer for MYOB. Shareholders do not need to take any action in relation to the Proposal at this stage and the Board will update shareholders in due course and as appropriate. The Board remains fully committed to acting in the best interests of all shareholders.
UBS is acting as financial adviser and Clayton Utz as legal adviser to MYOB.
Investor and Analyst Enquiries Christina Nallaiah Head of Investor Relations T: +61-2-9089-9122 M: +61-468-362-553 E: firstname.lastname@example.org Media Enquiries Amy Kirkwood Australia PR and Corporate Communications Manager T: +61-3-9944-1127 M: +61-4-2782-2088 E: email@example.com W: www.myob.com
Thomson Resources (ASX:TMZ) is pleased to announce its drilling program at Bygoo Tin has commenced, with a program at Harry Smith Gold to follow.
At Bygoo North, the main target will be to define and extend the newly discovered "Dumbrells" greisen which runs north-south through the old Dumbrells shallow pit (see Figure 1 in link below, also see TMZ ASX release 19 March 2018).
The Tin drill program also includes several targets in the Big Bygoo area that lies around two kilometres south of the discoveries at Bygoo North and South. The prospects occur as outcropping greisens running for several hundred metres each. Many old workings have been sunk on the outcropping greisens with active mining taking place between 1912 and 1939. According to Mine Records at least 10,600 tons of ore was mined from shallow depths, containing around 200 tons of tin. This is similar to the Mine Record production from Bygoo North.
A second drill program is planned at the Harry Smith Prospect, south of Ardlethan, to follow up on the Company's strong gold results from its inaugural drilling, including the 54m at 1.0 g/t Au from a depth of 8m intersected near the Golden Spray workings (see ASX release 23 March 2018).
In all, around 3,000m of drilling is planned, the largest program undertaken to date by Thomson in the Ardlethan district. Results are expected from early December.
Bygoo Tin Project
The Bygoo Tin Project was acquired by Thomson Resources in 2015 and lies on the 100% owned EL 8260 (through Riverston Tin PL). The EL surrounds the major tin deposit at Ardlethan which was mined until 1986, with over 31,500 tonnes of tin being produced (reference Paterson, R.G., 1990, Ardlethan tin deposits in the Australasian Institute of Mining and Metallurgy Monograph no. 14, pages 1357-1364). There are several early-twentieth century shallow tin workings scattered up to 10km north and south of Ardlethan, and few have been tested with modern exploration. Thomson has had immediate success in drilling near two of the historic workings, Bygoo North and South, which lie towards the northern end of the tin-bearing Ardlethan Granite.
At Bygoo North Thomson has intersected multiple high-grade tin intersections in a quartztopaz- cassiterite greisen including 11m at 1.0% Sn (BNRC10), 35m at 2.1% Sn (BNRC11), 11m at 1.4% Sn (BNRC13), 11m at 2.1% Sn (BNRC20), 29m at 1.0% Sn (BNRC33) and 19m at 1.0% Sn (BNRC40). The greisen appears to be steep to vertical; about 5-10m wide in true width; strike east-west; and the tin intersections appear to have continuity within the greisen.
At Bygoo South Thomson has intersected a sulphide-rich quartz topaz greisen with highgrade tin intersections including 8m at 1.3% Sn (BNRC21), 20m at 0.9% Sn (BNRC31) and 7m at 1.3% Sn (BNRC35). The orientation and geometry of this greisen is not yet clear.
20km south of Bygoo Thomson has intersected more tin at one of the old workings in the Bald Hill tin field with a best result of 15m at 0.4% Sn from 19m depth in hole BHRC01.
As announced to the ASX on 21 November 2016, Riverston Tin PL (a wholly owned subsidiary of Thomson) signed a Farm-in and Joint Venture Agreement for its Bygoo Tin Project with a Canadian investor (BeiSur OstBarat Agency Ltd). As recently amended Bei Sur (or nominee) can earn a 51% interest by contributing $A3 million in staged payments by 30 June 2019. Bei Sur then has an option to contribute additional $A22 million to earn a further 25% interest.
[For further information and the detail of the above see Thomson Resources ASX Releases of 21 November 2016, 28 June 2017, 16 October 2017, 5 April 2018 and 5 July 2018]
Harry Smith Gold Project
The Harry Smith Gold Project lies on EL 8531, granted to Thomson Resources in 2016 and situated 30km south of Ardlethan. Two distinct gold-bearing quartz reefs occur at the Harry Smith prospect and were worked historically from 1893 to 1942. Total recorded production was over 3,500 ounces of gold (Mines Record 2507). The last modern exploration was in 1995, with intercepts of GG95-2 (25m at 2.2 g/t Au from 16m depth) and GG95-13 (18m at 2.4 g/t Au from 73m depth) confirming the potential of the Golden Spray area at the northwest end of the Harry Smith line of lode.
The Harry Smith gold prospect and other nearby gold shows appear to be of the Intrusion-Related Gold deposit type, related to the Grong Grong granite intrusion which lies 1km to the south.
[For further information and the detail of the above see ASX Releases of 16 September 2016, 26 March 2018, and 19 June 2018]
To view figures, please visit:
Thomson Resources Ltd T: +61-2-9906-6225 E: firstname.lastname@example.org WWW: www.thomsonresources.com.au
Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) has advanced drilling at the 100% owned Cauchari Lithium Brine Project (See Figure 1 in link below). Two drill rigs are now on site, a rotary rig drilling 100 metre pre-collar holes through gravels to fast-track diamond drilling into the targeted brines.
- Two drill rigs drilling on site advancing a four-hole 1500 metre program.
- Diamond drilling underway on first hole, currently at about 110 metres depth of a targeted 400 metres depth with the second rotary rig at 100 metres.
- Drill targets expected to show likely extension of high-grade lithium brines from adjoining proven lithium resources with initial results anticipated in two weeks.
- New short-term unsecured $0.5 million facility established with current shareholder.
The diamond drill rig has advanced on drill hole #1 and is currently at about 110 metres.
The rotary rig has been completed the pre-collar to 100 metres depth at drill hole #2. This will assist the diamond rig through the upper gravels into the brine sequence in this hole. The two holes are 2500 metres apart.
Assays are expected in the coming weeks from the brines being targeted. Drilling is anticipated to support the geophysics which has shown a likely extension to the high grade lithium brines of Ganfeng Lithium/Lithium Americas and Orocobre/Advantage Lithium in adjacent properties (see Figures 2,3,4 in link below). Third party drill results close to the lease boundary include 600-705mg/L lithium with high flow rates (see Footnotes below).
The Company advises that an unsecured $500,000 facility has been established with a current shareholder, immediately available for short term funding of the exploration activities including the advancement of drilling at Cauchari. The facility has a commercial interest rate. The Company is in discussions with a number of potential strategic investors to advance the flagship projects through prefeasibility study and/or feasibility study. With current facilities, Lake has sufficient funds to continue current exploration activities.
Drill results released by Orocobre (ASX:ORE) from their market releases on the ASX on 18 April 2018, 29 June 2018 and 19 Sept 2018.
To view figures, please visit:
Rhinomed Limited (ASX:RNO) (OTCMKTS:RHNMF) a nasal delivery technology company has successfully undertaken a placement to institutional and sophisticated domestic and international investors at $0.21 per share. The company sought to raise a minimum of A$3.0 million and up to a maximum of A$5.0m and is pleased to report that demand saw the raise close at $A5.0 million.
- Rhinomed raises $5.0 million via a placement at A$0.21 a share
- Placement supported by new institutional and existing sophisticated domesticand international investors.
- Capital Raising will position Rhinomed to accelerate revenue growth andmarketing programs through its increasing retail footprint
Both the Chairman, Mr Ron Dewhurst and CEO, Mr Michael Johnson, will participate in the placement, subject to shareholder approval that will be sought at a General Meeting of shareholders. Details on the General Meeting will be circulated in due course. A separate SPP (raising up to A$1.0 million at A$0.21) will be undertaken with details to be circulated shortly. The record date for the SPP is COB Thursday November 1st 2018.
The net proceeds of the private placement will be used to drive growth of the company's Mute snoring and sleep technology platform which is now stocked in well over 11,000 stores globally. The placement will also support further development and working capital needs. The placement is priced at $0.21 per new share. All new placement shares will rank equally with the existing shares. The Placement was well supported and managed by Bell Potter Securities Limited and Morgans Corporate Limited who acted as joint lead managers.
The Placement Shares will be issued under the Company's existing capacity under its ASX Listing Rule 7.1 and 7.1A capacity.
Number of Shares on issue prior to capital raising: 117,671,387
Shares issued under Listing Rule 7.1A (Capacity Shares): 11,767,139
Dilution as a result of issue under Listing Rule 7.1A: 10%
Share issued under Listing Rule 7.1: 12,042,385
Shares to be issued subject to shareholder approval: 246,191
Total number of shares on issue subsequent to the capital raising: 141,480,911
Rhinomed Limited T: +61-3-8416-0900 F: +61-3-8080-0796 E: email@example.com WWW: www.rhinomed.com.au
The Hydroponics Company Limited, to be renamed THC Global Group Limited (subject to shareholder approval), (THC Global or the Company) (ASX:THC) (OTCMKTS:HDRPF) has commenced supply of Endoca CBD products to its first Australian patients.
- First Australian patient prescribed THC Global medicinal cannabis product supplied from Endoca's CBD and CBD+CBDa product range
- THC Global is building strong supply chain for imported products in anticipation of launch of THC Global's proprietary manufactured products in 2019
- Endoca CBD+CBDa product range imported by THC Global is GMP Certified
- Ongoing patient and prescriber engagement by THC Global expected to support increased domestic demand
Through completion of this supply, THC Global has verified its supply line from manufacturer through to patient under federal Authorised Prescriber and Special Access Schemes as well as relevant state regulations.
THC Global is currently importing four products from Endoca's range, being its CBD oil in 3% and 15% concentrations, and Endoca's unique CBD+CBDa oils also in 3% and 15% concentrations.
The Company is building patient and prescriber awareness, including sponsoring educational events to highlight the benefits of treatment with medicinal cannabis and the pathways to access product in Australia. As awareness increases within the domestic market, THC Global expects to see corresponding increases in revenue generating product sales.
Documentation which doctors and other prescribers can use to assist in prescribing Endoca's products in Australia under the Authorised Prescriber Scheme and Special Access Schemes can be accessed by registering on the Medicinal Cannabis Medicines Portal (http://mcmp.com.au/).
Enquiries can be directed to THC Global's medical outreach team at firstname.lastname@example.org.
THC Global's Chief Executive Officer, Ken Charteris, commented:
"The ability to secure supply of high-quality GMP certified medicinal cannabis products to domestic patients is a key bridge to implementation of THC Global's 'Farm to Pharma' model.
We continue to build out our domestic infrastructure in Australia under our 'Farm to Pharma' model - research, growing, manufacture and supply."
Henry Kinstlinger Company Secretary The Hydroponics Company Limited P: +61-2-9251-7177 E: email@example.com Michael Lovesey Director Corporate Media Relations MMR Corporate Services Pty Ltd P: +61-2-9251-7177 M: +61-449-607-636 E: firstname.lastname@example.org
Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) is pleased to provide the following update on the progress of its project in India and local activities.
- Parties have finalised commercial terms subject to respective board approvals
- NLCIL has confirmed its board meeting for approval of the RCA will be held on 15 November
- NMDC to hold reciprocal board meeting before the end of November
- ECT Chairman Glen Fozard joins the ECT team on ground in India through to 7 November.
Research Collaboration Agreement (RCA)
Further to the Company's announcement of 16 October, the ECT executive have maintained their presence in India to oversee the conclusion of the final compliance and legal review of the Research Collaboration Agreement (RCA) (see announcement 1 Oct 2018) and support the planning and preparations for NLCIL and NMDC board meetings in November.
Updates to the RCA, reflective of the detailed commercial terms as agreed between the parties, are being completed ahead of submission to the respective boards.
NLCIL's board meeting has now been confirmed for 15 November, where the formal approval of the RCA will be tabled.
NMDC plan to hold a board meeting in the balance of the month where the formal ratification of their prior in-principle approval for the project is expected.
Commenting from Chennai, ECT Chief Operating Officer, Jim Blackburn said "We have remained on the ground in India to ensure we can provide every support to our partners NLCIL and NMDC in the lead up to the respective board meetings"
"ECT Chairman Glenn Fozard will be in India until 7 November (the date by which all NLCIL board papers must be submitted) and will take this opportunity to meet with NLCIL and NMDC representatives to advance discussions on the broader strategy for commercialisation of ECT technologies in India, Australia and globally."
Commercial terms of the RCA will be summarised and announced ahead of submission to NLCIL and NMDC boards and approvals from each board meeting will be advised to the relevant Indian ministries and the ASX market as they are received.
ECT Chairman Glenn Fozard commented, "My presence in India will focus on two objectives. Firstly, to provide support to NLCIL in the lead up to their board meeting. Second, to update our partners on the broader strategic planning and business development initiatives once the R&D collaboration project is live. This will include business development activities in Australia and other project locations around the world as well as advising our partners of key personnel changes aimed at delivering the successful execution of our Coldry-Matmor project in India. ECT will also publicly announce the personnel changes once they are finalised."
Glenn Fozard Chairman Environmental Clean Technologies Ltd E: email@example.com WWW: www.ectltd.com.au
Retech Technology Co. (ASX:RTE), ('Retech' or 'the Company') a leading Shanghai-based learning courseware technology solutions company, is pleased to provide the following operation and financial update ended 30 Sep 2018 to accompany the company's quarterly cash flow report.
- Net operating cash flow increased to RMB 10.39 million (A$2.1 million) (see Note below)
- Reputable industrial clients (Mercedes-Benz, Bank of China, Ping An Group, etc.) continued to select RTE as their supplier
- RTE online courseware solution was rolled-out to vocational schools in this quarter, which is a new growth engine in the future
The net operating cash flow in FY2018 Q3 was RMB 10.39 million (A$2.1million), which was a vast improvement compared with last quarter.
- Through stronger internal controls , the company strengthened the management of accounts receivable and ensured a steady operating cash inflow; operating costs and general administration expenses were also effectively controlled. The cash outflow for general administration expenses was down to RMB 2.28 million (A$0.46 million). This was a reduction of 32% comparing with last quarter.
- In Q3, RMB 1,011k (A$203.8K) tax returns were received from the government.
Continuous growth was delivered within E-Learning solutions for industrial clients and vocational schools, as a result of high-quality services and market expansion.
Clients from financial and automobile industries showed continuous demand for E-Learning solutions and coursewares. The Company signed the second phase of our service agreement with Bank of China for its E-Learning platform's upgrading. Ping An also renewed the online courseware development agreement. Also, due to our continued strong reputation in the financial services industry, the Company acquired contract of Bank of Communications head office in Shanghai.
Mercedes-Benz continues to cooperate with Retech on online courseware development, aiming at jointly improving talent building system and popularizing compliance knowledge learning and sharing through current E-Learning platform.
As vocational schools increasingly prioritize online learning, the Company designed online learning solutions for them, integrating the off-line curriculums with online interactive courses. Both Shanghai Communications Polytechnic College and Shanghai Civil Aviation College signed contracts with Retech for an advanced E-Learning environment deployment and coursewares design.
The September quarter has delivered increased cash flow results with growth of the business.
Retech continues to acquire new clients and focus on business development to further enhance its position as one of the leaders in the corporate training and educational market.
Note: A$ 1 - RMB 4.96 (28 September 2018)
Corporate & Media Enquiries Elly Yu Retech Technology Co., Ltd T: +86-2-5566-6166 E: firstname.lastname@example.org
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is pleased to announce that the current phase of broad delineation drilling in the Tumas 1 East area on EPL3497 has now been completed. Extensive uranium mineralisation has been identified in the Tumas 1 East palaeochannel area within a system of newly defined Tributaries 1, 2, 4 and 5. Resource infill drilling will now start in Tributary 1. EPL3497 is held by Reptile Uranium Namibia (Pty) Ltd (RUN), part of the group of companies wholly owned by Deep Yellow.
- Completion of current phase of first pass delineation drilling has opened a multiple mineralised channel system ready for detailed resource drilling follow-up
- Highly significant uranium mineralisation confirmed in previously unknown Tumas 1 East tributary channels 1, 2, 4 and 5
o 16km of mineralised channel identified for follow-up resource drilling
- With 35 holes for 419m completed since last release, 50% of the holes returned >100ppm eU3O8 over 1m - best intersections
o TA145 3m at 306ppm eU3O8 from 5m
o TA154 5m at 430ppm eU3O8 from surface
o TA170 9m at 221ppm eU3O8 from 7m
- Resource upgrade drilling commenced 2 November on Tributary 1 and will commence on 5 November on Tumas 3 West
- Mineralisation is calcrete-associated hosted within palaeochannels, similar to the Langer Heinrich uranium mine located 30km to the north
Since the last drilling update (as reported 17 October 2018) 35 holes have been drilled for 419m between 12 October to 1 November, completing the current phase of the target delineation work in this area. In total 180 RC holes have been drilled in the Tumas 1 East area for 2,173m to broadly test the tributary channels for mineralisation with positive results being returned.
Further work will now shift to resource drilling in this area until the end of 2018. A second RC drill rig has also been contracted to begin resource drilling on 5 November over the highly prospective western extension of the Tumas 3 discovery. Figure 1 shows the prospective paleochannel system outline and prospect locations.
Tumas 1 East Drilling
Broad exploration delineation drilling testing the headwaters east of the Tumas 1 deposit has identified a multipronged channel system comprising, at this stage, 7 tributaries draining into the main Tumas palaeochannel as shown in Figure 2.
The 35 holes drilled since 12 October have continued to indicate promising mineralisation, this time in the eastern portion of Tributary 2 (see Figure 3) and in the previously untested Tributary 5 area where a wide mineralised channel has been identified (see Figure 4). This work has considerably expanded the area of high significance for uranium mineralisation. With this work, the drilling has identified a total of 15-16km highly prospective channels available for resource upgrade work. Large portions of Tributary 4 and 5 still remain to be tested to the west of where currently drilled. The interpreted Tributary 6 remains untested.
These new results produced intersections in the range of 143ppm U3O8 over 10m (TA165) to 430ppm U3O8 over 5m (TA154). The average thickness of the mineralisation is close to 5m.
Drill hole and channel locations are shown in Figure 2. Figures 3 and 4 show drill crosssections through Tributaries 2 and 5 respectively, highlighting the continuity and thickness of mineralisation.
Mineralised intersections from the current reporting period that are above the 100ppm U3O8 over 1m cut-off are tabulated in Table 1, Appendix 1. Table 2 in Appendix 1 lists all drill holes from this reporting period. The equivalent uranium values are based on down-hole radiometric gamma logging carried out by a fully calibrated Aus-Log gamma logging system.
In summary, with completion of the current phase of the target delineation work carried out in September and October, the following can now be stated:
- The main Tributary 1 target shows continuous calcrete-type uranium mineralisation along 4.6km length. This channel ranges from 100m to 900m in width. The mineralisation is located at shallow depth from surface to 12m below surface. Except for localised hot spots, large parts of this mineralisation do not show any surface radiometric expression.
- Tributaries 2 and 3 are less mineralised except for the eastern headwaters of Tributary 2 showing encouraging results along 2km of channel way.
- Both Tributaries 4 and 5 north of Tributary 1 show encouraging results indicating possible uranium mineralisation along a further 10km of channel length.
- Tributary 6 is currently defined from air photo interpretation and geological mapping only and remains to be tested.
To date a total of 180 holes for 2,173m were drilled in the area. Drill spacings have varied from 50m to 100m along lines 200m to 1,600m apart. 103 of these holes returned positive results of more than 100ppm eU3O8 over 1m. This reflects an almost 60% success rate. The average grade of the 1m intersections >100ppm U3O8 is 295ppm and >200ppm U3O8 is 433ppm which is the cut-off used in the previous resource estimates.
The results of the ongoing exploration are regarded as very encouraging. This drilling in what was a previously unknown headwater system of the Tumas palaeochannel system has identified a new continuous calcrete type uranium mineralisation at shallow depth. Importantly, new uranium mineralisation in the tributary paleochannel system in the Tumas East area has opened up the potential for further mineralisation in Tributaries 2, 4, 5 and possibly 6, along an extensive strike length.
The ongoing work continues to show that the uranium mineralisation is not confined to one simple, single channel but rather is associated with a complex palaeodrainage system containing several channels and tributaries.
This fourth (ongoing) drilling campaign is continuing to produce positive results. This is not only expected to add to the current uranium resource base of this project but, just as significantly, continues to emphasise the strong exploration potential of the extensive, uranium-fertile palaeochannel system within which the new Tumas palaeochannel discoveries occur.
The drill program emphasis will now change to resource drilling at Tumas 1 East and Tumas 3 West. A second RC drilling rig has been contracted to start the resource drilling at Tumas 3 West. These drilling programs will continue into December.
An updated Inferred Resource estimation for the Tumas 1 East Zone, in conjunction with Tumas 1 & 2 and Tumas 3 West is expected to be delivered in early 2019.
John Borshoff commented: "Our work on the Reptile Project is again confirming the very high prospectivity of the Tumas palaeochannel system that has been identified. The new zone of mineralisation that has been discovered to the east adds significantly to the potential of these channels, which are showing all the hallmarks of being able to substantially increase the currently identified resource base associated with this regionally extensive target."
To view tables and figures, please visit:
John Borshoff Managing Director/CEO T: +61-8-9286-6999 Email: email@example.com www.deepyellow.com.au
Nanollose Limited (ASX:NC6) (FRA:N0L) ("Nanollose" or the "Company") is pleased to announce that in addition to the non-binding Memorandum of Understanding ("MoU") signed in April 2018, a binding research agreement ("Agreement") has been executed with Indonesian food producer, PT Supra Natami Utama ("PT SNU").
- Microbial Cellulose (MC) supply partnership deepens with research agreement
- Research underway to assess best MC growing conditions and processing methods for scale-up
- Agreement paves the way for a binding agreement to develop a commercial growing facility
- Nanollose to retain all Intellectual Property resulting from the research
The agreement will accelerate research into the best growing conditions and processing methods of microbial cellulose before scaling up to commercial production. The agreement also takes Nanollose a step closer towards a binding agreement for developing a commercial scale factory to produce textile grade microbial cellulose, which can then be transformed into fibre using Nanollose's technology.
Securing large quantities of microbial cellulose is critical in that it will allow Nanollose to provide brands, retailers and manufactures with enough raw material to create commercial quantities of our Tree-Free NullarborTM fibre. Achieving this scale will eventually set the platform for future revenues from the raw material supply chain, the licencing of our technology and royalties from end users.
As Nanollose prepares to scale-up microbial cellulose production, the Company is also pleased to announce that, as a result of this Agreement, PT SNU has employed a scientist dedicated solely to Nanollose's R&D. This scientist will also oversee the processing of the Company's 250kg stockpile of raw microbial cellulose into a form suitable for the production of Nullarbor fibre.
Under the terms of the Agreement Nanollose retains all intellectual property and PT SNU has first right of refusal to work with Nanollose to jointly develop a commercial scale factory and supply chain for microbial cellulose in Indonesia.
Nanollose Managing Director Alfie Germano said; "This is an encouraging next step. Our partner is providing Nanollose with a broad foundation to help develop the technology and build a supply chain. In the near future we see more formal agreements between the two companies to commence commercial supply".
ABOUT PT SUPRA NATAMI UTAMA
PT Supra Natami Utama is one of Indonesia's largest and most established producers of coconut food, beverages and cosmetic products and has multiple facilities across Indonesia with access to significant quantities of coconut by-products and waste streams.
Through this partnership, Nanollose has gained access to these waste streams for use in the production of textile grade microbial cellulose on an industrial scale, which can then be transformed by using Nanollose technology into fibres. Nanollose and PT SNU also started to explore, unlock and develop other sources of liquid organic waste (including beer and other fermentable liquids) as feedstocks for additional microbial cellulose.
Alfie Germano CEO & Managing Director Email: firstname.lastname@example.org Phone: +61-411-244-477 Michael Wills Media and Investor Relations Email: email@example.com Phone: +61-468-385-208
MMJ Group Holdings Limited (ASX:MMJ) ("MMJ") is pleased to note the attached release confirming that Fire & Flower Inc. ("Fire & Flower") has raised CAD$36.5 million, above its original target of CAD$30 million, from equity instruments ahead of its proposed listing on the TSX Venture Exchange ("TSX-V").
MMJ has CAD$1 million invested in Fire & Flower with a current market value of CAD$2.4 million.
Investor and Media Enquiries Jason Conroy Chief Executive Officer firstname.lastname@example.org
WA-focused gold exploration and development company Classic Minerals Limited (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has commenced RC drilling at its Forrestania Gold Project (FGP) in Western Australia.
- 1000m of RC drilling underway at Kat Gap after highly successful campaign in August 2018
- Assay results expected late November
- Drilling to extend strike and up-dip extensions of Kat Gap high grade mineralisation
Classic CEO Dean Goodwin said:
Following the stunning results of our last drilling program, including multiple high-grade gold hits at Kat Gap and Lady Magdalene, we are very excited to be heading back to the FGP to undertake further follow up drilling. This latest round will be focused solely on our Kat Gap project which delivered outstanding results over the previous 3 drill campaigns. Drilling will again focus on the main granite - greenstone contact of which only 160m of a total 3.5km of potential strike has been tested by the Company.
We are planning to drill north along strike and also test for high grade gold mineralisation up-dip from previous bonanza intersections to see how close the gold gets to the surface. This information will be extremely important in any future mine planning and pit design work.
Future drilling programs at Kat Gap will then focus on testing an 800m long section of the main granite - greenstone contact where current drill line spacings are 100m apart. Our current drilling is located right in the middle of this 800m long section. We are of the firm belief that significant gold mineralisation is lurking between these sections similar to what we have seen during the last 3 drilling programs. I can't wait to get stuck into it.
Following on from the very encouraging results (see ASX announcement dated 8 October 2018) from its last program at Kat Gap, the Company will be targeting this area again with additional drilling.
KAT GAP DRILLING
Kat Gap contains a shallow unmined gold deposit discovered in the 1990s, which was the subject of resource estimations and scoping study by Sons of Gwalia in 2003. The open-ended deposit lies within a 5 km long geochemical gold anomaly that has seen very little drill testing, and after the previous drill program completed in August, Classic sees great potential for the discovery of a substantial shallow high-grade gold deposit within the Kat Gap project area. The upcoming program will be testing for extensions of the high-grade gold system.
The most recent drilling completed in August was focused on testing the main granite-greenstone contact which has been the main focus since the prospect was discovered by previous holders. A few holes were drilled up against the cross-cutting Proterozoic dyke where high-grade gold mineralisation appears to have concentrated. Several holes were also drilled deeper testing the interpreted plunge of the main mineralisation. Drill holes FKGRC017 - FKGRC019, FKGRC022 - 024 and FKGRC028 - 033 (inclusive), all tested the main contact lode with holes FKGRC020 - 021 and FKGRC027 drilled close to the Proterozoic dyke. Holes FKGRC025 and FKGRC026 were drilled deeper down the potential plunge of the main system. Better results from these holes included: 10m @ 30.78 g/t Au from 28m including 2m @ 116.10 g/t Au from 31m in FKGRC018; 9m @ 8.08 g/t Au from 95m including 1m @ 62.30 g/t Au from 101m in FKGRC025; 10m @ 4.18 g/t Au from 26m including 1m @ 15.10 g/t Au from 31m in FKGRC022 and 5m @ 4.85 g/t Au from 16m including 1m @ 19.10 g/t Au from 16m in FKGRC017.
Holes FKGRC025 and FKGRC026 were drilled deeper than previous holes to test the potential down plunge extent of the main granite-greenstone contact lode. Both holes intersected significant gold mineralisation supporting the interpretation of a seventy-degree plunge to the north. Results include: 9m @ 8.08 g/t Au from 95m including 1m @ 62.30 g/t Au from 101m in FKGRC025 and 1m @ 18.80 g/t Au from 86m in FKGRC026. The plunge line is wide open along strike and down dip.
As part of the November drilling campaign, Classic has 17 holes planned at Kat Gap for a total of 1,000m. These holes will test further north along strike from existing RC drilling along the granite-greenstone contact zone. In addition, the drilling will also test for up-dip continuations of high-grade gold mineralisation up against the Proterozoic dyke.
ABOUT THE FORRESTANIA GOLD PROJECT
The FGP Tenements (excluding Kat Gap and Lady Lila) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Hannans Ltd (ASX:HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights. Hannans' 20% interest is free-carried, meaning Hannans is not required to fund any activities on the FGP until a decision to mine has been made. For the avoidance of doubt Classic Ltd owns a 100% interest in non-gold rights on the Kat Gap and Lady Lila Tenements including but not limited to nickel, lithium and other metals.
The FGP contains an existing Mineral Resource of 5.3 Mt at 1.39 g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study (see ASX Announcement released 2nd May2017) suggesting both the technical and financial viability of the project. The current post-mining Mineral Resource for Lady Ada, Lady Magdalene and Lady Lila is tabulated in the link below.
To view tables and figures, please visit:
Classic Minerals Ltd T: +61-8-6305-0221 E: email@example.com WWW: www.classicminerals.com.au