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Speedcast (ASX:SDA) Delivers Emergency Alert Tower and Equipment to New Plant in Texas

December 13, 2018, 3:07 pm
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Speedcast International Limited (ASX:SDA) (FRA:7SC) (OTCMKTS:SPPDF), the world's most trusted provider of remote communication and IT solutions, announced today that its systems integration team has successfully delivered a new emergency alert tower and other network hardware equipment to an ethane cracker plant in Texas, set to begin operations in 2020.

The new onshore plant is majority-owned by a leading multinational energy producer who is also one of Speedcast's top global Energy clients, and construction of the cracker broke ground earlier in 2018. This initiative aligns with the customer's strategy to expand its global petrochemicals activity, which will help diversify the company portfolio and advance its leadership position as the market continues to come back. The plant is set to produce one million tons of ethane per year, and Speedcast's emergency alert tower system will be used throughout the plant as a security measure to ensure that in an emergency, all personnel are alerted and can take appropriate action.

"This opportunity is a great example of the breadth of capabilities our team can work on for our customers in a variety of sectors and subsectors," said Terry Babin, Speedcast's Global Director of Systems Integration. "Emergency alert systems are vital to operations both onshore and offshore, and we are pleased to provide reliable solutions to keep the workers safe and operating efficiently. In addition, breaking ground on this new ethane cracker demonstrates the strategic movement that many of our customers are making to enhance their position in the market, which shows promise that activity in the Energy sector is picking up in the Gulf of Mexico and surrounding onshore region. We look forward to leveraging our expertise to work with our customers on their communications and IT systems as the Energy sector is revitalized, allowing us to support their local and global needs with a fully-managed VSAT, wireless, terrestrial, IT outsourcing, or turnkey integrated communication solution."

For more information about our communications, IT solutions and systems integration capabilities for the Energy sector globally, please contact marketing@speedcast.com. 

Toni Lee Rudnicki
Vice President, Global Marketing                                 
Speedcast International Ltd
ToniLee.Rudnicki@Speedcast.com 
+1-832-668-2634
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VIDEO: Hawkstone Mining Ltd (ASX:HWK) Initiation report - Hit the ground running

December 13, 2018, 3:18 pm
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Hawkstone Mining Ltd (ASX:HWK) a lithium exploration company, recently acquired (September 2018) and commenced work (October 2018) at the Big Sandy project in Arizona, USA. The inaugural drilling campaign encountered numerous high-grade lithium intercepts, indicating Big Sandy's potential to be a significant lithium deposit. Other recent work completed by the company includes the following.

- The inaugural drilling campaign including the following results:

o 43.8 m at 2,089 ppm Li, including 11 m at 2,537 ppm Li and 5.3 m at 2,260 ppm Li, and

o 22 m at 2,020 ppm Li, including; 3.0 m at 2,416 ppm Li and 10.0 m at 2,486 ppm Li from 18 m.

- Positive preliminary metallurgical results (November 2018):

o confirmed that lithium at Big Sandy is leachable via sulphuric acid (conventional and proven method to recover ore from clay deposits), and

o showed recoveries of 95% and 97% from seven and 24 hours respectively.

Why are lithium clays projects only now being considered?: Less than a decade ago three lithium projects (one hard-rock and two brine) supplied most of the world's demand for that element. Since then, however, demand for lithium - fuelled by the evolution of the electric vehicle industry, as well as the need for storage of renewable energy - has increased significantly. That has led to exploration for, and the subsequent development of, new lithium projects from traditional types of resource, as well as consideration of new lithium sources, the most advanced to date being lithium clays.

Infrastructure: Located halfway between two of America's major cities (Las Vegas and Phoenix), Big Sandy is supported by significant infrastructure, including a major highway linking the above-mentioned cities (and only a few kilometres from the tenement boundary), access to power (there are lines adjacent to the project) and a small town located within 10 kilometres of the project. Obviously, such infrastructure has both immediate and long-term benefits for Hawkstone.

In addition, two well-established industrial towns within 80 kilometres of Big Sandy are easily accessible by road. Future project development studies could thus consider the option of trucking ore to either town, thereby reducing capital costs and facilitating permitting.

Hit the ground running: two risks for any exploration project involve resource discovery and metallurgical considerations, the latter being particularly important in a developing sector such as that for lithium clays. In the just over two months since Hawkstone acquired the project those risks have been significantly ameliorated, in that the inaugural drill programme confirmed widespread lithium mineralisation at the project, while preliminary metallurgical test work confirmed that lithium was extractable using a conventional and therefore proven process.

A follow-up drill programme aimed at defining an initial resource is planned for early 2019. Meanwhile, additional metallurgical test work to further optimise the initial strong results (95% recoveries within a seven-hour period) is ongoing.

To view the video, please visit:
http://www.abnnewswire.net/press/en/95891/hwk 

The Sophisticated Investor
WWW: www.thesophisticatedinvestor.com.au


Hawkstone Mining Ltd
WWW: www.hawkstonemining.com.au
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Venus Metals Corporation Limited (ASX:VMC) DeGrussa North Copper Project Promising Anomalies

December 13, 2018, 3:33 pm
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Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the following positive results from a recently completed ground gravity survey at VMC DeGrussa North copper project, Western Australia.

Summary

- The Venus Metals DeGrussa North tenements E52/3486 and E52/3068 (100% Venus) lie immediately north of and abutting the tenements of Sandfire Resources NL's high grade DeGrussa Cu-Au mine (Figure 1).

- A reconnaissance ground gravity survey was conducted over portions of E52/3486 and E52/3068 to validate and refine gravity anomalies evident on the existing regional, wide spaced government survey datasets.

- The anomalies may represent targets for Cu-Au mineralisation beneath the extensive soil and colluvial cover in the area (Figure 2).

- The reconnaissance survey, conducted on lines approximately 400m apart with 200m station spacings has validated the regional anomalies and identified two priority zones of gravity anomalism, together with two additional zones of gravity anomalism. (Figure 3).

- These two priority zones consist of +1mgal responses which are considered significant in the context that they are located within an interpreted granite domain and may represent rafts of assimilated mafic, volcanic or sedimentary rocks. (Figure 3).

- Significantly, all four zones of gravity anomalism are in areas of cover with no outcrop (Figure 2).

- 3D inversion of the data indicates that the sources of the gravity anomalies are around 200-250m deep.

- Ground EM surveys are being planned for the new year to refine the targets.

- No drilling has ever been conducted over any of the newly identified gravity targets.

INTRODUCTION

Venus Metals Corporation ('VMC') holds a 100% interest in E52/3068 and E 52/3486 located 3km north of Sandfire Resources high-grade DeGrussa Copper Mine, Figure 1.

Residual gravity anomalies evident in the regional government gravity data are located within E52/3068 and E52/3486. Given their proximity to DeGrussa, the anomalies were considered prospective by VMC. A reconnaissance ground gravity survey was conducted to validate the nomalies.

Core Geophysics (CORE) were commissioned to plan the survey, process the results and make recommendations for follow up works.

REGIONAL GEOLOGY

The GSWA geology over the tenements of interest comprise mostly of small outcrops of granitic rocks with significant areas of recent cover of soils, colluvium and lateritised colluvium, Figure 2. The residual anomalies within the government gravity data survey suggests the presence of mafic rocks, volcanic rocks or sediments , hidden beneath the recent cover. Major fault structures are shown on the regional GSWA 1:100,000 scale geological maps which may have implications for mineralisation occurrences.

GRAVITY SURVEY

The reconnaissance gravity survey was completed by Atlas Geophysics from 4th - 8th December 2018. Survey lines were approximately 400m apart with stations recorded every 200m. Additional traverses in the north and the east were completed over a subtle feature with E52/3068 and a geochemistry anomaly within E52/3486.

RESULTS

The reconnaissance gravity survey has validated the regional government data and defined two main anomalous zones, together with two additional zones of gravity anomalism (Figures 2 and 3). These comprise of +1mgal anomalies which are considered significant within the geological granite domain setting. 3D inversion modelling of the data along with 2D modelling of anomaly 1 indicates a depth to a gravity source with a density of 3.5g/cc at approximately 200-250m.

REGIONAL GEOCHEMISTRY

The GSWA regional geochemical survey (Peak Hill) data has indicated 108ppm Cu from rock chips in the vicinity of the DeGrussa Mine.

The highest Cu value recorded in the survey area was 210 ppm Cu in a quartz vein located within the Venus tenement E52/3486, adjacent to identified gravity anomaly zone two.

CONCLUSIONS AND RECOMMENDATIONS

Reconnaissance gravity surveying at DeGrussa North has validated anomalies evident in the regional government data. Two anomalous zones which display 1mgal gravity anomalies are considered significant as the gross geology over the area is interpreted to be granite and the anomalous zones may represent the presence of mafic, volcanic or sedimentary rocks.

3D inversion modelling of the data along with 2D modelling of anomaly 1 indicates a depth to a gravity source with a density of 3.5g/cc at approximately 200-250m.

Further work is required to determine the nature of these anomalies and follow up ground based EM surveys are recommended to resolve if they are related to conductive sulphides.

Mr Matt Hogan, MD of Venus Metals commented " The close proximity of these gravity anomalies to the DeGrussa Copper Mine is significant. The high copper anomaly in a quartz vein rock chip adjacent to the Zone 2 anomaly is an important indication of possible mineralisation associated with these anomalies. We look forward to evaluating them in detail with more geophysics to define drill targets"

To view tables and figures, please visit:
http://abnnewswire.net/lnk/N82J2169 

Matthew Hogan
Managing Director
T: +61-8-9321-7541 

Barry Fehlberg
Executive Exploration Director
T: +61-8-9321-7541
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Platina Resources Limited (ASX:PGM) Development Program To Produce Scandium-Rich Master Alloy

December 13, 2018, 3:36 pm
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Platina Resources Limited (ASX:PGM) (FRA:P4R) (OTCMKTS:PTNUF) is pleased to announce it has signed a Memorandum of Understanding ("MOU") with Metalysis Limited ("Metalysis"), a UK technology company focused on the development of metal alloy powders, to assess the technical and economic feasibility of using its innovative solid-state process to produce a scandium rich master alloy.

HIGHLIGHTS

- Agreement with Metalysis Ltd to assess the technical and commercial viability of utilising their solid state technology to produce master alloy

- Owendale scandium oxide to be tested for the production of a scandium-rich master alloy containing 15X the amount of scandium compared to the conventionally available product

- Potential to significantly reduce the cost of producing the master alloy with a lower environmental footprint compared to traditional melting processes

- Significant cost saving benefits to the end user by offering scandium rich master alloy

- Strategic initiative part of an overall strategy to produce superior master alloy and accelerate the development of the advanced-stage, Owendale scandium project

Platina is developing one of the largest and highest-grade scandium deposits in the world. The recently completed Definitive Feasibility Study has demonstrated the viability of constructing a low capital expenditure open-cut mining operation and processing facility producing scandium oxide at the Platina Scandium Project in New South Wales, Australia. The process for producing the scandium oxide has been extensively tested through a pilot program which processed 6-tonnes of ore and produced 99.99% scandium oxide. The Company is now actively focused on market development and securing off-take, and assessing options to reduce the production costs of making value-added scandium products including master alloys.

Metalysis has developed a modular, electrochemical technology which can produce a scandium-rich master alloy feedstock, used to make aluminium-scandium alloys. Currently, the traditional industry process route involves producing a 2% aluminium-scandium master alloy by melting scandium oxide powder with aluminium metal (see Figure 1). The master alloy is further diluted with molten aluminium to less than 0.5% scandium metal for use in the end product. Metalysis' technology allows the production of a master alloy addition, which is 15X higher in scandium content using scandium oxide and alumina oxide. The process can produce a wide range of alloy powders at lower cost and environmental footprints than the traditional melting processes.

Scandium rich master alloys produced by Metalysis' process are in demand from industries including aerospace, automotive and additive manufacturing (3D printing). While the solid oxide fuel cell industry has been the dominant consumer of scandium in recent years, scandium's greatest value lies in the functional properties it imparts as an alloy in aluminium. When used in combination with other common aluminium alloys, scandium can produce stronger, heat tolerant, weldable aluminium products. These products are being increasingly incorporated into transportation applications for light-weighting (electric vehicles) and lowering fuel efficiency requirements.

The MOU contemplates using Owendale scandium oxide to produce a scandium-rich master alloy utilising Metalysis' process, and assessing the technical and economic feasibility of utilising the technology within potential development scenarios at Owendale. The program will also produce samples of the scandium rich alloy for testing by customers in the aluminium and alloy industries. Platina will provide Metalysis with refined scandium oxide produced from Owendale during the pilot program completed earlier in 2018.

The Company will negotiate a technology licencing agreement with Metalysis once the initial test work programs have been successfully completed.

Managing Director Corey Nolan commented, "The Company now has two development initiatives underway to assess the potential development of a low-cost process for the production of value-added, aluminium-scandium master alloy.

In September 2018, the Company announced it was developing a process technology that could be provided to the downstream alloy manufacturers to fast-track the path towards integrating aluminium-scandium alloys in their production lines and utilising scandium oxide from Owendale.

The MOU with Metalysis represents another innovative way of potentially producing scandium rich master alloy at potentially lower cost than the traditional melting processes.

The aim of the initiatives is to accelerate the development of the Owendale scandium oxide project by facilitating technology solutions to fast-track the use of scandium oxide in the high-strength, light-weight alloying sector".

To view tables and figures, please visit:
http://abnnewswire.net/lnk/8JEZAJ0W 

Corey Nolan, Managing Director
Tel: (+61) 7 5580 9094
Email: admin@platinaresources.com.au
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Australian Potash Ltd (ASX:APC) WA State Government Assistance Further Benefits SOP Project

December 13, 2018, 3:44 pm
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Australian Potash Limited (ASX:APC) (APC or the Company) is pleased to announce that, following the release of a media statement yesterday by the Hon Bill Johnston MLA, Minister for Mines and Petroleum, the Western Australian Government has confirmed its commitment to assisting the development of the potash and minerals in brine industry in Western Australia.

The Government's media statement can be accessed in full by clicking on the following link:

https://www.mediastatements.wa.gov.au/Pages/McGowan/2018/12/McGowan-Government-assists-development-of-new-potash-projects.aspx

The Government is set to introduce a new rental rate for potash projects that are granted a new class of mining lease for restricted minerals, with the existing rental rate of $18.70 per hectare to be significantly reduced to:

- $2.32 per hectare for the first five years of the lease; and

- $4.64 per hectare from year six onwards.

The new potash rental rates are expected to come into effect in early 2019.

In comments attributed to Mines and Petroleum Minister Bill Johnston in the media statement: "These changes will assist the development of a new industry in Western Australia, and create employment and community development opportunities, particularly in remote Aboriginal communities.

"Potash is vital for agriculture because it is an essential nutrient in fertilisers that protect food crops from disease and pests, and improves water retention, yield, taste and appearance.
"The new industrial minerals in brine mining tenure for potash projects will help stimulate this very important mineral sector and create jobs for Western Australians.

"Potash projects generally have a mine life that spans 30 to 40 years, so this longevity is a win for local communities and sustaining jobs."

Managing Director and CEO, Matt Shackleton, commented: "We are delighted that the WA Government has acted on industry's concerns regarding mining leases for minerals in brine, as these operations require substantially larger mining leases than other forms of mining.

Australian Potash looks forward to moving ahead with the development of its exciting Lake Wells Sulphate of Potash project, and thanks the WA Government for its support of the industry as a whole given the importance of potash for Australian and global agriculture."

"This decision can further reduce the cost of our lowest cost quartile production profile making this an even more internationally competitive project." 

Matt Shackleton 
Managing Director and CEO
E: m.shackleton@australianpotash.com.au 
M: +61-438-319-841

Jim Walker
Chairman
E: j.walker@australianpotash.com.au
M: +61-459-041-052
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Mithril Resources Limited (ASX:MTH) JMEI Entitlement Statements for the 2017/2018 Financial Year

December 13, 2018, 3:51 pm
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Mithril Resources Ltd ("Mithril" or the "Company") (ASX:MTH) advises that following the lodgment of the Company's income tax return for the Financial Year ending 30 June 2018, it will be issuing a total of $226,664 worth of tax credits under the Federal Government's Junior Mineral Exploration Incentive ("JMEI") scheme to those shareholders and investors who participated in the Company's Share Placement and Share Purchase Plan during the period 18 May 2018 to 29 June 2018 ("Eligible Shareholders").

A Statement detailing Eligible Shareholders' precise JMEI entitlement amount will be dispatched to Eligible Shareholders by 11 January 2019.

The JMEI tax credits can be applied to Eligible Shareholders' Tax Return for the Financial Year ending 30 June 2018 and the Company estimates that Eligible Shareholders will receive an approximate 0.29 cent ($0.0029) JMEI tax credit for every new share received in the Share Placement and Share Purchase Plan (see Note Specific).

Receiving a JMEI credit could have tax consequences and Eligible Shareholders are advised to obtain independent tax advice specific to their personal circumstances.

To view Entitlements, please visit:
http://abnnewswire.net/lnk/3Z6J6VAF 

Mithril Resources Ltd
David Hutton
Managing Director
E: admin@mithrilresources.com.au
T: +61-8-8132-8800
F: +61-8-8132-8899
www.mithrilresources.com.au
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Mithril Resources Limited (ASX:MTH) Billy Hills Heritage Agreement Executed

December 13, 2018, 6:33 pm
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Mithril Resources Ltd (ASX:MTH) is pleased to advise that it has executed a Heritage Protection and Mineral Exploration Agreement with the Gooniyandi Aboriginal Corporation (GAC) for the 100% - owned Billy Hills Zinc Project (located 25kms southeast of Fitzroy Crossing in the West Kimberley region of Western Australia - Figure 1).

The agreement will allow Mithril to undertake exploration activities at Billy Hills under a series of heritage protection protocols that have been developed in consultation with the GAC.

Commenting on the announcement, Mithril's Managing Director Mr David Hutton said that he was very pleased to reach an agreement with the Gooniyandi and the Company is looking to forward to testing a series of exciting zinc targets with a program of geophysics and drilling early next year once the Wet Season has concluded.

"We have developed a good working relationship with the GAC and I look forward to working together to advance the project".

The GAC are the Native Title Prescribed Body Corporate for the Gooniyandi Traditional Owners who are the Registered Native Title Claimants for the project area.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/TB0LT57D 

Mithril Resources Ltd
David Hutton
Managing Director
E: admin@mithrilresources.com.au
T: +61-8-8132-8800
F: +61-8-8132-8899
www.mithrilresources.com.au
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VIDEO: GoldFund.io CEO Tim Mckinnon Explains GoldFund Commodity Ecosystem

December 14, 2018, 9:32 pm
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GoldFund.io CEO Tim Mckinnon Explains the GoldFund commodity ecosystem and how GoldFund works as a cryptocurrency commodity that is used in a gold trading commodity platform.

In the video he explains how a successful cryptocurrency must have a liquidity driver, and that is, an ecosystem that supports the transactional features of the cryptocurrency. The liquidity driver will be a fundamental part of cryptocurrencies in the future, and has relevance to a wide range of industry applications.
The new Cryptocurrency offering from GoldFund.io allows the purchase of GFUN (GoldFund) cryptocurrency which can then be used to purchase Gold with gold trading partners.

The GoldFund.io ICO is in progress until the end of December 2018. Following the ICO period, the GFUN coin will participate on public cryptocurrency exchanges in various regions.

To watch the video, please visit:
http://www.abnnewswire.net/press/en/95913/gfun 

W: www.goldfund.io
T: +61-2-8205-7340
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White Cliff Minerals Ltd (ASX:WCN) Board Changes

December 14, 2018, 2:40 pm
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White Cliff Minerals Limited (ASX:WCN) advises the appointment of Nicholas Ong and Daniel Smith as directors and the resignation of Jack Gardner.

The Board changes are part of an ongoing review by the Company in extracting maximum value from its suite of high-quality assets, as well as implementing cost saving measures. The Company expects to make further updates to shareholders in due course. 

Todd Hibberd
Managing Director
T: +61-8-9321-2233
E: info@wcminerals.com.au
W: www.wcminerals.com.au
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Speedcast International Ltd (ASX:SDA) Completes Globecomm Acquisition

December 16, 2018, 2:27 pm
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Speedcast International Limited (ASX:SDA) (OTCMKTS:SPPDF) ("Speedcast"), the world's most trusted provider of remote communication and IT solutions, today announced that on December 14, 2018 it completed the acquisition of Globecomm Systems Inc. ("Globecomm") for cash consideration of $134 million (net of cash acquired).

Globecomm is a leading provider of remote communications and multi-network infrastructure in over 100 countries and the acquisition strengthens Speedcast's global leadership with enhanced competitive positions in Government, Maritime, and Enterprise. The acquisition complements Speedcast's acquisition of UltiSat in November 2017 by doubling Speedcast's revenue in the Government sector and adding more scale, visibility and capabilities in this growth market. In addition, Globecomm will benefit from Speedcast's scale and capabilities in the Maritime and Enterprise sectors.

"The acquisition of Globecomm fits perfectly with Speedcast's strategy to build competitive advantages based on scale, reach and unique capabilities. Globecomm is particularly complementary as it significantly strengthens our Government division at a time when government spending globally is expected to rise. Globecomm also has a strong reputation providing remote communications and professional services to key customers in Maritime and Enterprise and will strengthen our innovation capabilities with new solutions and strong engineering expertise in growth areas such as IoT, wireless and media services" said Speedcast CEO Pierre-Jean Beylier. "I am excited about the growth opportunities created by the combination of our two companies. I welcome the Globecomm team to Speedcast and look forward to their contribution to our journey. I welcome Globecomm customers and I am confident they will find benefits from all the additional capabilities and resources our Group can offer."

Speedcast is very confident of achieving a targeted US$15 million in annual cost synergies within 18 months of completing the acquisition, as communicated previously. The cost synergies are expected to be generated across the business, including through footprint rationalisation, network improvements and improved procurement.

As previously announced, in connection with closing the acquisition, Speedcast completed a US$175 million incremental term loan add-on to its existing US$425 million US Term Loan B facility (due 2025). The proceeds from the term loan add-on were used to fund the acquisition consideration, pay fees and transaction expenses and repay a portion of the outstanding loans under the company's revolving credit facility.

The only financial covenant in the company's debt facilities is a requirement to maintain net leverage1 at or below 4.0x EBITDA. In addition, the covenant only applies if the revolving credit facility is more than 35% drawn. Speedcast's net leverage as at June 30, 2018 pro forma for the transaction was 3.4x EBITDA.

The table in link below sets out a summary of the key terms of Speedcast's seven year Senior Secured Credit Facility on completion of the acquisition.

To view tables, please visit:
http://abnnewswire.net/lnk/MD8FZ2YW

For more information about Speedcast, please visit http://www.speedcast.com

Vanessa Cardonnel 
SVP, Investor Relations and Corporate Development 
E: vanessa.cardonnel@speedcast.com 
T: +852-3919-6833
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White Rock Minerals Ltd (ASX:WRM) Appointment of Non-Executive Director

December 16, 2018, 3:04 pm
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The White Rock (ASX:WRM) Board is pleased to announce the appointment of Mr Stephen Gorenstein as a Non-Executive Director.

Mr Gorenstein has more than 15 years in capital markets including equity analyst roles at both Goldman Sachs JB Were and Bank of America Merrill Lynch. He also has extensive experience in mining business development and mergers and acquisitions. He serves as a Director and Partner of Jindalee Partners and has been a Non-Executive Director of Parazero Ltd since October 2018.

"Stephen has a wealth of experience and extensive networks in the Australian capital markets. His experience and knowledge in capital markets, mining business development and mergers and acquisitions complements and provides additional diversity to the existing Board," said White Rock's Chairman, Brian Phillips. "He will add a valuable dimension to the Company's development and growth aspirations".

"White Rock has an exciting future ahead and I am looking forward to being part of its transformation as it delivers on its growth strategy," said Mr Gorenstein. 

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

Shane Turner (Company Secretary)
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
Website: www.whiterockminerals.com.au
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Rumble Resources Ltd (ASX:RTR) Braeside and Barramine Project Update - East Pilbara

December 16, 2018, 3:18 pm
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Rumble Resources Ltd (ASX:RTR) ("Rumble" or "the Company") is pleased to announce an update on the Barramine and Braeside projects.

Highlights

- Rumble secures 70% ownership of E45/2032 (central Braeside tenement)

- Recent RC Drilling at central Braeside E45/2032 identified four mineralised alteration zones over an area of 35km by 6km, representing a regional scale porphyry to epithermal mineralised system that significantly upgrades the Braeside Project as having camp-scale potential for multiple deposit types.

- Rumble has now completed additional work on the northern E45/4368 and southern E45/4874 tenements extending the highly mineralised Braeside system to over a strike length of 60km with up to 4 sub-parallel zones over a width of 6km.

Braeside Project, East Pilbara, Western Australia

E45/4874 - Contiguous southern extension of central Braeside tenement

Regional stream sediment sampling over the entire tenement has outlined:

- Gold in stream anomalism - > 10 times background

- Strong Pb, Zn, Cu and Ba zonation with widespread low order anomalism along the westernmost margin of the tenement.

E45/2032 - Central Tenement - Four mineralised alteration zones over an area of 35km by 6km

- Rumble has fulfilled its earn-in obligation to earn 70% by spending $1.5mil in exploration within 3 years and has lodged transfer paperwork.

Barramine JV Project, East Pilbara, Western Australia

E45/4368 - Contiguous northern extension of central Braeside tenement

Regional soil geochemistry has outlined:

- Pb and Zn anomalism over 4km in strike associated with the inferred northern extension of the major Barker Well - Gossan East mineralised structure.

- Over 18km of strike potential for base metal mineralisation within the Barramine JV remains completely untested.

Rumble's Technical Director, Mr Brett Keillor, said: "The recent RC drilling results reported by Rumble on E45/2032 have demonstrated the potential for porphyry related multiple base-metal deposits of varying styles. The reported soil sampling and reconnaissance work on the Barramine project E45/4368 has demonstrated the Braeside porphyry related base-metal system potentially extends over a strike of 60km.

"The recent RC drilling at Barker Well (E45/2032) identified very significant base metal (galena dominant) mineralisation which includes very wide widths of altered disseminated base metal sulphide zones (105m @ 0.78% Pb + Zn) and multiple sulphide zones including 6m @ 6.16% Pb and 3m @ 9.16% Pb,0.43% Zn. Regional soil geochemistry, geological reconnaissance and spectral imagery (recently completed by CSIRO) infers the main Braeside mineralised system traverse northwards into the Barramine JV ground.

"Stream sediment sampling within E45/4874 has shown very strong metal zonation trends across strike, reflecting the same zonation associated with the new upgraded porphyry geological model. Gold in stream anomalism (>10 times background) has highlighted a new area of interest which will be followed up by further stream sediment sampling and soil geochemistry.

"The regional soil sampling on E45/4368 and stream sediment sampling on E45/4874 have generated significant highly prospective trends with potential multiple targets that will be followed up in the next field season (2019)."

Barramine JV Project - E45/4368 - Rumble earning 70%

Regional Soil Programme and Results (see Image 1 & 2 in link below)

Contiguous northern extension of central Braeside tenement E45/2032 (host to 35km by 6km porphyry to epithermal mineralised system)

Regional soil sampling on a staggered 400m by 400m pattern with select 200m by 200m infill was completed over interpreted structures within Fortescue mafic dominant volcanics and volcaniclastics. Areas of shale (Jeerinah Formation) were also partly covered. A total of 286 samples were collected and assayed for gold and 32 multi-elements. The soil programme focused on the northern section of the interpreted mineralised structures due to access restraints.

The maximum soil value is 844 ppm Pb + Zn (392ppm Pb, 452ppm Zn). Nine (9) samples returned > 300ppm Pb + Zn. Several anomalies have been highlighted (see image 2 in link below) with the most significant anomaly occurring over a strike of 4km.

The majority of the anomalies lie close to, or over the inferred regional mineralised structure that extends north to northwest from the Barker Well Prospect (neighbouring E45/2032 tenement) into the Barramine project. The soil sampling methodology and analysis was identical to the extensive soil sampling conducted within E45/2032. The level thresholds of anomalism for the Barramine JV are approximately the same as for E45/2032.

Regional geological reconnaissance along the main structure that extends north to northwest from the Barker Well mineralisation reported similar styles of alteration to the Barker Well - Gossan East Trend (in E45/2032) with wide zones of silicification and extensive pervasive chlorite alteration. Results from the regional soil sampling and the reconnaissance has extended the main mineralised structures a further 18km of strike within the Barramine JV. The Braeside porphyry related mineralised structure has been confirmed over a strike of over 60 km.

Conclusions and Next Steps

Base metal (Pb + Zn) anomalism defined by the regional soil sampling has extended the highly mineralised Braeside porphyry related alteration system a further 18km northwest of the Barker Well Pb Prospect. At Barker Well, recent RC drilling by Rumble (only five holes in total) has highlighted wide zones of disseminated sulphides with intense chlorite and silica alteration. Results include 105m @ 0.78% Pb + Zn with multiple sulphide zones including 6m @ 6.16% Pb and 3m @ 9.16% Pb, 0.43% Zn. The Barker Well mineralisation occurs over a strike of 500m and is completely open both south and north to northwest into the Barramine JV.

Proposed exploration for 2019 season includes:

- Detailed soil geochemistry along main trend.

- Follow-up in situ pXRF soil sampling of anomalism generated by soil geochemistry.

- Detailed prospect mapping and grab sampling of high order base metal targets.

- First pass RC drilling of targets.

Braeside Project E45/4874 - Rumble 100%

Stream Sediment Sampling Programme and Results - See images 1 & 3 - 7 (see link below)

Contiguous northern extension of central Braeside tenement E45/2032 (host to 35km by 6km porphyry to epithermal mineralised system)

A total of 188 stream sediment samples were collected over suitable drainages within E45/4874. The tenement is contiguous and lies east and south of the main Braeside base-metal project (E45/2032). The sample methodology included taken the fine fraction active sediment with analysis including multi-element (aqua regia digest - 48 elements including Au) and an additional bulk cyanide leach sample for Au, Ag, Cu.

Anomalous gold in stream was encountered in a large creek system some 3km to the east of the Ragged Hills Prospect (see image 3 in link below). The peak value (1.77ppb Au) for BLEG correlated with the elevated gold by aqua regia response. The maximum gold value is >10 times the background.

Copper, lead, zinc and barium (see images 4 - 7 in link below) assays in streams highlighted a strong zonation west to east (approximately normal to the regional trend). These elements were strongly elevated to the west of E45/4874 and were proximal to the projected southeast extension of the highly mineralised Braeside porphyry related structural trend.

Conclusions and Next Steps

Wide spread base metal and barium anomalism along the western portion of the tenure has highlighted the southeast extension of the highly mineralised Braeside porphyry related alteration system. The gold in stream anomalism indicates potential gold mineralisation to the east of the main base-metal mineralised trend.

Proposed exploration for 2019 season includes:

- Infill stream sediment sampling to outline mineralised structures.

- Soil geochemistry to delineate targets.

- Follow-up in situ pXRF soil sampling of targets

- Detailed prospect mapping and grab sampling to delineate drill targets.

To view images, please visit:
http://abnnewswire.net/lnk/KZIR29KO 

Shane Sikora
Managing Director
Email: enquiries@rumbleresources.com.au
Phone: +61-8-6555-3980
Website: www.rumbleresources.com.au
↧

Speedcast International Ltd (ASX:SDA) Wins Infrastructure Innovation Award with SIGMA Gateway Xtreme

December 16, 2018, 3:19 pm
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Speedcast International Limited (ASX:SDA) (OTCMKTS:SPPDF), the world's most trusted provider of remote communication and IT solutions, has won the Infrastructure Innovation Award at the DataccioConnect conference in Dubai for its Speedcast SIGMA Gateway Xtreme network management device.

DataccioConnect is a one-of-a-kind technology event for key players across the entire maritime ecosystem. DataccioConnect aims to familiarize decision makers with technological advancements taking place across the sector and to make the transition to digitalization comprehensive and smooth.

SIGMA Gateway Xtreme is a network management device capable of managing VSAT, MSS and 4G/LTE services onboard a ship or at a remote site. It delivers the ultimate in reliability and redundancy, bringing the performance of VSAT to a new and unmatched level. SIGMA Gateway Xtreme is designed to withstand harsh maritime and remote environments, delivering the high availability and performance of modern VSAT and other communication services in a secured and integrated environment. Comprised of fully redundant and duplicated hardware, including solid-state hard drives, multiple fans and remote power management, SIGMA Gateway Xtreme includes multiple automated systems to mitigate both hardware and software failures.

"We are honored to accept this award that recognizes Speedcast's commitment to innovation and delivering market-leading products to our customers," said Tim Bailey, Executive Vice President, Products, Marketing & Business Development, Speedcast. "In addition to managing a communications network onboard a ship or at a remote site, SIGMA Gateway Xtreme hosts critical applications and services that our customers depend on for their day-to-day operations, making the high reliability and redundancy features of SIGMA Gateway Xtreme that much more important. The recently-launched Speedcast Cybersecurity as a Service is an example of the type of services that our customers depend on Speedcast to provide with SIGMA Gateway Xtreme in order to safeguard their networks and keep their businesses operating smoothly."

SIGMA Gateway Xtreme provides a secured, virtualized environment where a customer or third party's virtual machines (VM) can be hosted. SIGMA Gateway Xtreme manages both its core functionality and hosted VM's within a containerized environment, which ensures that VM's operate in a secured environment entirely independently of each other. The VMs can be solutions or applications for cybersecurity, crew connectivity, entertainment, content distribution and more.

SIGMA Gateway Xtreme has been installed on hundreds of vessels around the world as a critical platform to manage their communications. 

Toni Lee Rudnicki
Vice President, Global Marketing
Speedcast International Ltd
E: tonilee.rudnicki@speedcast.com
T: +1-832-668-2634
↧
↧

Australian Bauxite Ltd (ASX:ABX) Next 30,000 Tonne Bauxite Sale Confirmed Shipping March 2019

December 16, 2018, 3:47 pm
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Australian Bauxite Limited (ASX:ABX) (ABx) is pleased to advise that it has been the successful tenderer for its next sale of seaborne cement-grade bauxite as follows:

- Tonnage: 30,000 tonnes +/- 10% (i.e. 33,000 tonnes maximum)

- Product: Cement-grade bauxite, blended to the customer's specification

- Source of Bauxite: Bald Hill Bauxite Project, Campbell Town, Northern Tasmania

- Dispatch Port: Bell Bay Port of Launceston, Tasmania (see Figure 1 in link below)

- Loading date: Around 1 March 2019

- Basis of tonnes: As measured by independent ship's survey

ABx has been working with the customer over the past 3 months to achieve the optimum product specifications, which is part of the service that ABx provides for customers with specific requirements.

Mine, Transport & Handling Contracts

ABx has started contract negotiations for the mining, processing and blending at the minesite. It also has to arrange contracts for transport to the port and handling of the bauxite at the port.

ABx has long-standing relationships with experienced contractors that are well known for meeting the strict tonnage-specification targets and complying with community and landholder requirements.

Port Contracts

ABx has contracted with QUBE Logistics at Bell Bay for the stevedoring services and stockpiling arrangements, in conjunction with TasPorts. Monson Shipping have provided Shipping Agents services and Briar Maritime have provided independent ship surveys to date.

ABx's Chief Operating Officer, Leon Hawker commented; "We have a lot of work ahead to achieve on-time, on-specification delivery of bauxite produced and blended to our customer's requirements. We can ship efficiently from Bell Bay Port - an all-weather, 24/7 export port that can operate to high standards and good loading rates all year round. This is a core strength of our bauxite business."

ABx's Marketing Manager, Paul Glover commented; "Our bauxite is blended specifically to suit our cement-grade bauxite customer, which is what we do for each sale. It is very clean bauxite due to efficient processing at the mine and careful transport pit-to-port."

"This negotiation was longer than usual because we are trying to introduce new products to customers. We provided samples from a suite of possible products, all prepared at our laboratory, supervised by Operations Manager, Nathan Towns who is expert in sampling of bauxite to ISO Standards."

Fertiliser Sales Increasing

ABx is also pleased to advise that sales of fertiliser-grade bauxite are growing as the customer achieves good results by using ABx fertiliser-grade bauxite in its manufacturing of superphosphate fertiliser products. Bauxite granules reduce dust losses and improve the spreading performance of the fertiliser. Sales of fertiliser-grade bauxite are scheduled to recommence during the last week of January 2019.

ALCORE Technology Progress

ABx's subsidiary, ALCORE Limited is still ahead of schedule and working at full pace to get the Core Laboratory at the Research Centre in Berkeley Vale certified for production of Aluminium Fluoride samples for its four designated customers, early in the New Year.

BEST WISHES FOR THE FESTIVE SEASON

Directors and staff of Australian Bauxite Limited wish all of its shareholders, partnering contractors, suppliers and landholders a safe, enjoyable year-end festive season and a prosperous New Year.

To view figures, please visit:
http://abnnewswire.net/lnk/E7CKAKZZ 

Ian Levy
CEO and MD
Australian Bauxite Limited
Telephone: +61-2-9251-7177
Mobile: +61-407-189-122
↧

Platina Resources Limited (ASX:PGM) Master Alloy Development Program Successfully Completed

December 16, 2018, 4:03 pm
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Platina Resources Limited (Platina or the Company) (ASX:PGM) (OTCMKTS:PTNUF) provides an update on aluminium-scandium master alloy production test work for the Platina Scandium Project ("PSP") in New South Wales.

The aluminium industry prefers scandium supply via a master alloy "hardener". Test work has been under way since August 2018 to develop proprietary master alloy production procedures. Conversion of the scandium oxide produced from mining and processing operations into aluminium scandium master alloy is a critical, value-adding part of the supply chain in manufacturing aluminium scandium alloys for end-users.

The test work on master alloy production has been conducted at relatively small scale and has focussed on producing master alloy from scandium oxide, but also from intermediate products from the PSP flowsheet developed for the recently completed Definitive Feasibility Study ("DFS").

The small scale work has concluded and it has been demonstrated that the procedure developed as part of the test work program can reliably produce 2% scandium-aluminium master alloy from either scandium oxide or from intermediate products in the flowsheet developed in the DFS test work program. Further details are unable to be released at this time whilst Platina examines options for intellectual property protection for the processes developed.

Now that proprietary procedures have been developed, further work may-be undertaken to scale up the process, should potential offtake partners require larger samples.

Corey Nolan, Managing Director of Platina Resources stated "Developing procedures that enable Platina to produce scandium-containing master alloy is an important step in being able to provide potential aluminium industry offtake partners with their preferred product. Being able to produce the master alloy from an intermediate product may provide the potential for capital and operating cost reductions in the final flowsheet design".

To view figures, please visit:
http://abnnewswire.net/lnk/05C8FDJK 

Corey Nolan 
Managing Director
Tel: +61-7-5580-9094
Email: admin@platinaresources.com.au
↧
Search

White Rock Minerals Ltd (ASX:WRM) Podcast of Hong Kong 1-2-1 Presentation

December 16, 2018, 5:31 pm
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White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") wishes to advise that the podcast of a presentation by its MD and CEO, Matt Gill at the Hong Kong 1-2-1 Investor Conference is now available on its website.

This podcast can be found on the Company's website via the following link: http://www.whiterockminerals.com.au/ 

Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
Website: www.whiterockminerals.com.au
↧

Intermin Resources Limited (ASX:IRC) Anthill Resource Grows 60% to over 125,000 Ounces

December 17, 2018, 3:19 pm
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Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce an updated Mineral Resource Estimate for the 100% owned Anthill gold project area located 55km northwest of Kalgoorlie-Boulder in Western Australia (see Figures 1 and 2 in link below).

HIGHLIGHTS

- Highly successful infill, extensional and new discovery drilling completed at the Anthill gold project, 55km north-west of Kalgoorlie-Boulder in the Western Australian goldfields

- In total, 15,118m of drilling completed in 2018 with the majority focussed on extensions to known mineralisation to the north, south and east (see Note 1 below)

- Updated independent Mineral Resource estimate now compiled for the Anthill project and now stands at:

o 2.28Mt @ 1.71g/t Au for 125,500oz at a 1g/t Au lower grade cut-off, up 60% (see Note 2 below)

- Over 68% in the Indicated Category with mineralisation open to the east and west (see Note 2 below)

- Intermin's Total Mineral Resource estimate grows to:

o 9.26Mt grading 2.05g/t Au for 609,600oz at a 1g/t Au lower grade cut-off (see Note 2 below)

- Additional resource drilling planned at Anthill in 2019 with follow up exploration drilling at the regional Fire Ant and Tree Ant prospects (see Note 3 below)

- Updated mining studies have commenced assessing optimal mining and processing pathways for open cut mine development (see Note 3 below)

Commenting on the Anthill Resource, Intermin Managing Director Mr Jon Price said:

"The successful drilling at Anthill in 2018 has continued to demonstrate the potential scale and quality of the project, particularly with the new mineralisation discovered to the east and south and we look forward to further drilling campaigns in 2019 at both Anthill and the new prospects to the north."

"The strike length at Anthill has grown from 120m to over 400m since initial mining studies were completed. We now look forward to re-optimising the new model and see potential for Anthill to be a significant part of our future production pipeline."

Overview

Project Geology

Anthill is located in the Eastern Goldfields (see Figures 1, 2 and 3 in link below), adjacent to the highly endowed Zuleika shear zone. The geology is dominated by a variolitic basalt with lesser amounts of porphyry and ultramafic rocks observed. At least two mineralised trends are evident and add to the geological complexity at Anthill. The gold mineralisation is pervasive and occurs in a number of settings, the most important being a quartz stock work of thin veins with carbonate-sericite-silica-sulphide alteration. Some of the gold is coarse and is easily visible in panned RC chips.

Resource Update

In the June and September Quarters 2018, the Company completed 122 Reverse Circulation ("RC") holes for 15,118m drilled to an average depth of 120m and maximum depth of 284m.

Significant downhole RC intercepts reported in 2018 included(see Note 1 below):

- 23m @ 4.16 g/t Au from 61m (AHRC18020)

- 18m @ 3.13 g/t Au from 70m (AHRC18043)

- 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)

- 21m @ 1.94 g/t Au from 33m (AHRC18013)

- 25m @ 2.53 g/t Au from 132m (AHRC18017)

- 23m @ 3.22 g/t Au from 174m (AHRC18018)

New mineralisation was discovered at Anthill East and Anthill South (see Figure 3 in link below). Anthill South appears to be a strike extension of the main Anthill mineralisation. A plan view is shown in Figure 4 (see link below). The new data has been used to compile a detailed Mineral Resource Estimate compliant with the JORC 2012 Code. The Mineral Resource for Anthill now stands at:

- 2.28Mt @ 1.71g/t Au for 125,000 ounces at a 1.0g/t Au lower grade cut-off (see Note 4 below)

Further breakdowns of ore types and categories are shown in Table's 1 - 3.(see Note 4 below)

The updated resource of 125,000 oz is a 60% increase on the earlier Mineral Resource estimate of 78,000oz(see Note 6 below). Attributable discovery costs incurred this year for Anthill are estimated to be around $20/oz. Intermin's global gold Resources now stands at 9.26Mt grading 2.05g/t Au for 609,600oz at a 1g/t Au lower cut-off grade(see Note 5 below).

Next Steps

Intermin believes the mineralisation at Anthill is significant with potential for additional resources to be delineated with further drilling beyond the current mineralised envelope. The proximity and influence of the Zuleika shear zone together with high grade intersections returned during 2017/18 indicate the potential for a larger size resource at depth and extensions to be tested(see Note 3 below).

The priority target in 2019 is the high grade mineralisation potential that remains open at depth and to the east. An initial step back diamond drill hole will target the central Anthill area at AHRC18010 (10m @ 2.15g/t Au from 263m) and the adjacent drill hole AHRC17039 (33m @ 3.13g/t Au from 157m). (see Note 7 below)

A potentially new, unrelated target area to the southeast of Anthill appears to be open and requires further drilling (AHRC18115, 4m @ 2.60g/t Au from 35m). No resource blocks were applied here. At Anthill South, there are potential up dip extensions to the southwest as indicated by AHRC18095 (9m @ 1.63g/t Au from 65m) and AHRC18116 (8m @ 1.68g/t Au from 94m and 1m @ 10.20g/t Au from 114m).(see Note 7 below)

Follow up drilling is also planned at the regional Fire Ant (ARAC 2m @1.34 g/t Au) and Tree Ant prospects (ARAC1808 4m @ 2.89g/t Au from 32m, ARAC1821 2m @ 3.27g/t Au from 67m and ARRC1815, 5m @ 1.28g/t Au from 82m) located 2.8km northwest of Anthill.(see Note 7 below)

Preliminary in house mining studies will commence to assess the optimal development pathways for the open cut mine development of the Anthill resource.

Notes:

1 As announced to the ASX on 21 August and 10 October 2018,

2 as announced to the ASX on 13 March 2018, see Tables 1-3 on Pages 3 and 4, Tables on Page 8 and Competent Persons statement on pages 4 and 8. See also JORC tables on page 10,

3 see Forward Looking and Cautionary Statements on Page 9

4 see Tables 1-3 on Pages 3 and 4, Tables on Page 8 and Competent Persons statement on pages 4 and 8. See also JORC tables on page 10

5 see table on Page 8 and Competent Persons statement on pages 4 and 8. See also JORC tables on page 10

6 as announced to the ASX on 13 March 2018

7 as announced on the ASX on 21 August and 10 October 2018

To view tables and figures, please visit:
http://abnnewswire.net/lnk/A9QO90F5 

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
↧
↧

Environmental Clean Technologies Ltd (ASX:ECT) Shareholder Update - India Project

December 17, 2018, 3:27 pm
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Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) is pleased to provide the following update on the Company's India project.

Key Points:

- Project partner NMDC board meeting to be held in January

- Project preparation activity ongoing

- Project agreement 'sunset' date formally extended

Status of NMDC Board Approval

On 23 November 2018 the Company provided the following guidance based on information received at that time:

Further to the Company's recent update (19 November 2018), NMDC have confirmed they will seek approval for signing of the RCA at their next board meeting, to be held in the first half of December.

The Company previously announced the in-principle approval of the RCA by NMDC subject to approval by partner NLCIL, which is in-hand.

NMDC was expected to ratify that in-principle approval at their recent board meeting (13 November 2018). Due to unforeseen circumstances, the agenda item was deferred.

NMDC are yet to formally announce their next board meeting date. The Company expects the meeting to occur in the coming 3 weeks and that approval to sign the RCA is included on the formal agenda.

NMDC has recently advised the Company that they were unable to meet early December timing due to several factors unrelated to the project and will formally release the timing of their next board meeting via official channels, in due course.

ECT Chief Operating Officer, Jim Blackburn commented from India, "As we wait for NMDC to confirm and subsequently convene their board meeting, we continue to drive project preparations in parallel to formalising NMDC's ratification. We have enjoyed a very productive period here on the ground and are working closely with both NLCIL and NMDC. We continue to make good progress on key sub-programs. Following on from completion of the basic engineering phase some months ago, the broader team has begun preparations for a detailed site geotechnical survey, undertaken additional project budget review meetings and commenced a tender development program with our engineering consultants in Chennai. In addition, we are today meeting with representatives of the Ministry of Coal and the Australian High Commission in Delhi."

Mr Blackburn also commented "One of the most pleasing developments this past few weeks has been the appointment and induction of an additional project team members here in India. We look forward to providing additional staff profiles over the coming weeks as we bed down each of the project specific roles."

Project Agreement Sunset Date Extended

The project agreement signed on 30 May 2018 contained a sunset clause. The sunset date was previously extended (see announcement 15 August 2018) and, given the present timing, the parties have further extended the sunset clause to 31 January 2019.

This date has been chosen based on the timing of anticipated NMDC board approval to sign the RCA and targeted timing of meetings with India's Ministry of Coal and Ministry of Steel, the first of which is occurring today.

The Company looks forward to providing a further update once NMDC confirm the timing of their next board meeting. 

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

Rumble Resources Ltd (ASX:RTR) Drilling Commences at Munarra Gully Copper-Gold Project

December 17, 2018, 3:47 pm
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Rumble Resources Ltd (ASX:RTR) ("Rumble" or "the Company") is pleased to announce that Rumble has commenced air core drilling following up the significant Cu-Au discovery at the White Rose Prospect in 2018 and completed infill and extension lag sampling to cover the 8km of strike potential. The Munarra Gully Project is located some 50km NNE of the town of Cue within the Murchison Goldfields.

Munarra Gully Cu-Au Project (Cue District, Murchison, WA)

M51-0122 - White Rose Prospect - Cu-Au Discovery

- On 30th August 2018 Rumble announced in its maiden RC drill program at White Rose consisting of four (4) RC drill-holes that it identified a significant Cu-Au discovery. Results included:

o 22m @ 1% Cu from 29m coincident with 19m @ 2.19 g/t Au from 33m (WRRC001).

- All four RC drill-holes intercepted significant copper-gold mineralisation and defined mineralisation over 160m which is completely open along strike and at depth.

Air Core Drilling - Strike Extension and RC Drill Targeting

- Air core drilling has commenced which is designed to extend the 160m mineralised strike and generate drill targets for deeper RC drilling scheduled for February 2019

E51/1677 - Regional Geochemistry - Drill Targeting

- Orientation broad spaced lag (soil) sampling by Rumble (August 2018) highlighted strong copper anomalism over 3.5km strike. The anomalism is 4km southwest of the White Rose Cu - Au Prospect. Additional grab sampling returned Au to 2.11 g/t and Cu to 0.23%.

o The orientation lag and grab sampling along with re-interpretation of the aero-magnetics has outlined over 8km of strike potential which coincides with a covered mafic intrusive which is inferred to be the same lithological host (ortho-pyroxenite) the hosts the White Rose Cu - Au mineralisation. The intrusion has not been targeted by previous drilling.

- Rumble has completed infill and extension lag sampling to cover the 8km of strike potential to generate drill targets scheduled for February 2019 - awaiting assays.

Exploration Target: Multiple copper-gold bearing mafic (norite) intrusions.

- The style of mineralisation is likely magmatic and is atypical with respect to mineralised mafic intrusive systems due to high Cu:Ni ratios, high Au and Ag, low S and elevated PGM's.

- The style is similar to known large copper rich mafic intrusive (ortho-pyroxenite) deposits in Brazil (Caraiba mining district - 96Mt @1.82% Cu reserve and production) and South Africa (Okiep mining district - Koperberg - 94Mt @ 1.75% Cu historic production). Gold, silver and PGM's are associated with the copper deposits.

Munarra Gully Cu-Au Project (Cue District, Murchison, WA)

M51/122 - White Rose Prospect - Cu-Au Discovery

Four (4) RC drill-holes returned significant copper-gold mineralisation from a fine to medium grain intrusive pyroxenite (norite) at the White Rose Prospect (ASX announcement - Significant Cu-Au Discovery at Munarra Gully - 30th Aug 2018). Results included:

o 22m @ 1.00% Cu from 29m coincident with 19m @ 2.19 g/t Au from 33m - hole WRRC001.

All four RC drill-holes intercepted significant copper-gold mineralisation over 160m strike which is completely open (along strike and depth). See image 1 in link below for significant intercepts.

The mineralised norite has intruded east-west into a sequence of north-northeast trending mafic volcanics and volcaniclastics. Additional XRD analysis and multi-element assaying has highlighted the mineralisation style as atypical of intrusive related copper- nickel systems. High Cu:Ni ratios, low sulphur (some transitional and primary mineralisation intercepted), elevated PGM's, very strong Au and Ag and moderately elevated Mo and some REE suggest a contaminated mafic intrusion into hot country rocks. The prospect may potentially represent a new style to the area.

The style is similar to known large copper rich mafic intrusive (ortho-pyroxenite) deposits in Brazil (Caraiba mining district - 96Mt @1.82% Cu reserve and production) and South Africa (Okiep mining district - Koperberg - 94Mt @ 1.75% Cu historic production). Gold, silver and PGM's are associated with the copper deposits.

Commenced Air Core Drilling - Strike Extension and RC Drill Targeting

Air core drilling has commenced which is designed to extend the 160m strike at the White Rose Prospect and generate drill targets for deeper RC drilling scheduled for February 2019 - See Image in link below for location.

E51/1677 - 8km of strike potential - Image 2 (see link below)

In August 2018 Rumble announced that it had conducted limited lag geochemistry along the inferred mafic/ultramafic lithological horizon with additional grab sampling within E51/1677. The area is located 4km southwest of the White Rose Prospect. Lag sampling (107 samples taken) returned significant copper, nickel and gold anomalism. Copper returned up to 721 ppm in lag, nickel to 1800 ppm and Au to 72 ppb (ASX announcement - Significant Cu-Au Discovery at Munarra Gully - 30 Aug 2018).

Copper anomalism over 3.5km in strike coincides with inferred mafic/ultramafic (orthopyroxenites) from aero- magnetics. Grab sampling along the copper in lag anomalism (only 3 samples collected) returned up to 2.11 g/t Au and 0.28% Cu. There were no previous exploration or historic workings associated with the grab sampling.

The lag and grab sampling outlined over 8km of strike potential coinciding with a partly buried strong magnetic anomaly which has been inferred as the same host - ortho-pyroxenite which is yet to be tested.

Completed Regional Geochemistry - E51/1677 - Regional Drill Targeting

Rumble has completed infill lag sampling to cover the 8km of strike potential to aid in the generation of targets for drilling scheduled for February 2019 - Awaiting Assays - See Image 2 in link below for location.

To view images, please visit:
http://abnnewswire.net/lnk/70O8J503 

Shane Sikora
Managing Director
Email: enquiries@rumbleresources.com.au
Phone: +61-8-6555-3980
Website: www.rumbleresources.com.au
↧

Mithril Resources Limited (ASX:MTH) Rights Issue Closure and Shortfall Notification

December 17, 2018, 5:16 pm
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Mithril Resources Ltd ("Mithril" or the "Company") (ASX:MTH) has completed a capital raising comprising a Placement and a subsequent fully underwritten non-renounceable pro-rata rights issue ("Rights Issue") to raise a total of $1,110,231 (before costs).

The Company raised $150,257 through the Placement pursuant to Section 708 of the Corporations Act (Cth) at an issue price of $0.005 (0.5 cents) per new share (see ASX Announcement dated 19 November 2018).

The Rights Issue, conducted at the same issue price, made pursuant to the Prospectus dated 19 November 2018 closed on 13 December 2018 raising $383,725.

Funds raised by the Placement and Rights Issue will be used to further advance priority zinc and nickel targets at the Billy Hills and Kurnalpi Projects respectively, support ongoing target generation activities and for working capital purposes. The Company intends to commence nickel exploration at Kurnalpi (with a ground EM geophysical survey) as soon as possible with zinc exploration activities to commence at Billy Hills once the northern Wet Season concludes, expected to be late March 2019.

The Rights Issue offered 187,209,980 New Shares on the basis of five (5) new shares for every six (6) ordinary shares held by Shareholders at the Record Date at an issue price of $0.005 (0.5 cents). 

The results of the Rights Issue are as follows: 

- Total number of shares applied for:    76,745,116 

- Shortfall:                            115,250,358 

                                        187,209,980

Patersons Securities Ltd ("Patersons") acted as Lead Manager to the Placement and Rights Issue and fully underwrote the Rights Issue.

As such the Company will now place all of the Shortfall Shares with the underwriters.

The Company expresses their appreciation to participating shareholders for their ongoing support and welcomes new shareholders to the register. 

Mithril Resources Ltd
David Hutton
Managing Director
E: admin@mithrilresources.com.au
T: +61-8-8132-8800
F: +61-8-8132-8899
www.mithrilresources.com.au
↧
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