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Crater Gold Mining Limited (ASX:CGN) Maiden JORC Gold Resource at HGZ Project, Crater Mountain, PNG

November 13, 2016, 7:19 pm
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Crater Gold Mining Limited (ASX:CGN) (or the Company) is pleased to announce a maiden inferred resource estimate reported in accordance with JORC guidelines for its HGZ gold mining project, part of the Crater Mountain Project in Papua New Guinea (PNG) of 44,500 tonnes at 11.9 g/t for 17,100 ounces of gold (cut- off grade of 5 g/t Au).

Highlights:

- High grade JORC gold resource

- Potential to increase gold resource substantially

- 3 major gold veins identified contain the majority of the gold

- Drilling programme to target extensions of identified high grade veins

With the project already being in production and having gold processing facilities on site, the maiden resource paves the way for increased production with minimal additional capital expenditure or development time.

The initial Inferred Resource at HGZ comprises: 

Resource Category     Tonnes  Grade(Au g/t) Gold Oz 
Inferred - cut-off 
of 5g/t au             44,500    11.9        17,100 

Within this resource 
at a higher cut-off of
 > 7.5g/t Au           23,500     17.2       13,000

As part of the resource definition, mapping of the HGZ showed three distinct major high grade gold veins Figure 1. The three veins are closely linked and are estimated to carry 11,800 ounces of gold. The Company will now refine the mining method for maximum gold extraction from the higher cut-off grade of 7.5g/t Au implementing a revised, more focussed mining plan.

This will allow more efficient, targeted gold production The mining plan will be implemented, with the development of the 1930 Level via a new adit which is currently being established.

CGN's Technical Director, Richard Johnson commented:

"This maiden resource marks a significant milestone for the Company, confirming the potential for profitable gold mining from the HGZ project. The report also provides us with more detail of the high grade veins enabling us to target more selective mining of the 3 main high grade veins. going forward. Whilst the initial JORC resource may seem modest, the gold is accessible and all infrastructure is in place, allowing the Company to move quickly to mining of the 3 veins as well as other cross cutting structures.'

The maiden resource estimate only considers the HGZ as identified to date. Development of the 1930 Level will pass through approximately 100m of previously unexplored ground adjacent to the high-grade zone. This area is considered prospective for finding additional gold bearing structures.

The potential to increase the resource is also considered substantial given that drilling to date has mostly been confined to a maximum depth of 75m from surface (Figure 2 in link below). However there is also evidence from drilling that gold is encountered at least to a depth of 128m from surface (NEV022) The Company plans to commence in-fill drilling from the 1930 level which is currently under development as recommended.

The resource estimate was completed by Ian Taylor, (AusIMM(CP)) of Mining Associates.

The Nevera Prospect was visited by Mr Ian Taylor during the period 26th to 30th September 2016. In the course of the site visit, Mr Taylor viewed mineralised drill core and examined the drill core, processing and storage facilities. He also toured the underground workings, inspecting geology in the backs and walls of underground drives.

From this, he provided a report including the resources estimate, mapping details of high grade veins and recommendations.

Recommendations

Mr Taylor states in his report to the Company that there is an opportunity to expand the resource along strike and laterally with further drilling and mapping, and also to improve the confidence of the mineral resources internally by infill drilling and development. Lateral drilling to extend resources should be targeted based on existing intersections and understanding of cross structures and the steeply plunging shoots from the newly developed working pad at the 1930 level. Infill drilling should confirm the strike continuity of vein systems particularly following up intersections identified in the deep drill hole NEV022. Infill drilling and further channel sampling is required to increase level of the resource categories.

An opportunity exists for deeper drilling targeting the high grade shoots during development of the 1930 m RL adit. A drill cuddy could be cut at 9280980 mN and 287990mE (1934 mRL) to provide a suitable platform for 4 to 8 holes (Table 1 & Figure 3 in link below) targeting the extensions of identified high grade shoots, particularly veins N1 and L1.

HGZ independent technical review.

Previously, following a site visit in mid-September 2013 by Mining Associates (MA) principal Mr Andrew Vigar, concluded that the target for the HGZ project based on selective underground mining may be stated as:

HGZ Target - 50 to 250 kt @ 13 to 30 g/t Au for 60 to 100k Oz of contained Au

MA stated "It is likely that similar independent high grade gold deposits may be repeated at several places as splays off key structures over a potential area of at least 1400m by 700m." MA did caution that the potential quantity and grade was conceptual in nature. MA was commissioned by the Company to delineate a target for the HGZ area In its report, MA stated that the HGZ Target was defined by a 100m radius circle centred on the area of artisanal workings. (Figure 2 in link below)

Mixing Zone Project

While the current focus remains on the HGZ mine, there remains potential to increase the resource of 24Mt at 1.0 g/t Au for 790,000 ounces (which includes 9.4Mt at 1.46 g/t using a 1.0 g/t Au cut-off for 440,000 ozs) at the nearby Mixing Zone (MZ) Project at Crater Mountain (refer ASX Release of 24 November 2011: "Crater Mt - Initial Resource Estimate". This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The Company is not aware of any new information or data that materially affects the information contained in that ASX release. All material assumptions and technical parameters underpinning the resource estimate continue to apply and have not materially changed).

The MZ project lies entirely within the Company's ML 510. This offers scope for fast tracking the development of the MZ project.

Crater Mountain is located 50 km southwest of Goroka in the Eastern Highlands Province of PNG. Formerly a tier-1 BHP asset, there has been in excess of 14,500 metres of diamond drilling to date, the majority focussed on the Nevera prospect, which hosts the HGZ mine.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/0VRWB2B4 

Russ Parker
Managing Director 

Richard Johnson
Technical Director

Email: info@cratergold.com.au
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Genex Power Limited (ASX:GNX) Completes Kidston Hydro Project Technical Feasibility Study

November 13, 2016, 7:43 pm
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Genex Power Limited (ASX:GNX) (Genex or Company) is pleased to announce the completion of the Kidston Pumped Storage Hydro Project (PSHP or Project) Technical Feasibility Study (TFS). The TFS process was managed by specialist power and water consulting firm, Entura, in conjunction with project partner, HydroChina.

The TFS concludes that all of the key risks identified at the pre-feasibility stage, and any additional risks identified during the TFS, will be appropriately mitigated or addressed through detailed design augmentation and optimisation.

The Project is now fully designed, including the civil works program and detailed mechanical equipment specifications. Genex and Entura continue to engage with a number of highly experienced and well recognised EPC Contractors and Generator/Turbine Suppliers to develop the capital cost estimates. Formal competitive tender processes will be undertaken over the course of the next phase of the Project development to further refine Project capex.

The energy market has evolved significantly since the initial inception of the Project. Going forward, it is anticipated that the market will undergo an intense transition period as the generation mix across the National Energy Market (NEM) shifts from traditional fossil fuel generation towards a fast growing proportion of large scale renewable energy generation. There is a critical need for large scale energy storage, at an affordable cost, to balance the penetration of large scale renewable energy generation into the NEM.

During the course of the TFS, Genex has received significant interest in the Project from a range of funding and financing entities. As a result of the high level of interest, once final costings are completed, Genex will immediately commence project financing activities in order to bring the Project online as soon as possible, with an anticipated target of Q4 2017 to complete the "financial close" process. The main project parameters determined by the TFS are summarised in the table below: 

Parameter                      Value
Installed Capacity             250MW
Storage Capacity               1,500MWh
Continuous Generation Duration 6 hours
Turbine Configuration          2 x 125MW Fixed Speed Turbines
Upper Reservoir Volume         2.8 Gigalitres or 2.8 Million m3
Upper Reservoir FSL            579.0
Upper Reservoir MOL            571.0
Upper Reservoir Fluctuation    8.0m
Lower Reservoir FSL            376.6
Lower Reservoir MOL            349.0
Lower Reservoir Fluctuation    27.6m
Maximum Gross Head             230.0m
Minimum Gross Head             194.4m
Net Head Ratio                 1.23
Time to Ramp Up to Full 
Generation Capacity            30 seconds

Table 1: Project Parameters determined as a result of the TFS process.

Design Optimisation and Project Sizing

Much of the TFS work was focussed on optimising the Project to achieve a design which is technically and commercially feasible. A preferred configuration has been determined with the following characteristics:

- The lower storage reservoir for the Project will be the existing Eldridge Pit;

- The upper storage reservoir of the Project will be created by a "turkey nest" type dam constructed on top of an existing waste rock dump to the north of the Eldridge Pit;

- Utilisation of the Wises Pit as a balancing storage to hold excess water and for flood risk mitigation;

- The upper and lower storage reservoirs will be connected by an underground water conveyance shaft, short pressure tunnel and a tailrace tunnel; and

- The underground powerhouse will contain two sets of nominally 125MW installed capacity reversible turbines, generators, main transformers and auxiliaries.

Project Sizing

As part of the TFS, a number of project size options were developed ranging between 250MW to 450MW.

Genex, in conjunction with its consultants, undertook detailed market studies to assess the pricing and revenue impacts of each of the options. It was determined that a 250MW (configured as 2 x 125MW reversible pump-generators) scheme with 6 hours of continuous generation, totalling 1,500MWh of energy storage capacity, would be the optimal size given the Project's location and forecast characteristics of the NEM in Queensland and Australia.

A 250MW rapid response hydro scheme was deemed to be sufficiently flexible to take full advantage of market volatility opportunities. It should be noted that the overall design general arrangement of the scheme would remain unaltered regardless of the Project size, and as such the Project size remains flexible to changes as Genex proceeds towards financial close.

Construction Cost Estimation

Based on the chosen Project configuration of 250MW nameplate and 1,500MWh energy storage capacity, Genex will now finalise the construction cost estimation with a number of internationally recognised turbine and highly recognised and experienced underground and civil contractors.

Transmission Line

Studies commissioned by Genex indicate that the existing Powerlink transmission network in North Queensland has the capacity to integrate the Kidston Pumped Storage Hydro Project across all its operating modes. Investigations indicate that a suitable connection point for the new transmission line with Powerlink's main 275kv network between Ross in Townsville and Chalumbin near Cairns will be in the vicinity of Mt Fox, which is located approximately 115km northwest of Townsville.

Initial investigations have also indicated that the new transmission line connecting Kidston to Powerlink's network may be able to track existing easements over much of the distance. These early investigations concerning possible routes for the new transmission line also showed the proposed transmission line may not need to traverse any environmentally sensitive areas.

Project Funding and Revenue Contracting

The Company now has clear visibility on potential sources including commercial debt and government funding. Negotiation of Project financing terms will commence in earnest once the final capex estimate is determined. These discussions will continue into the first half of 2017.

Genex is also now engaging with a number of parties to identify opportunities for contracting revenues through power offtake agreements, forward power sales contracts, the sale of energy cap contracts and the potential for Frequency Control Ancillary Services (FCAS) revenues. Given the significant increase in penetration of renewable energy generation into the NEM expected over the next few years, there has been growing interest in large, rapid response dispatchable storage which the Project offers. It is the Company's intention to secure stable and long term revenue streams for the Project whilst at the same time retaining a portion of exposure to the spot market.

ARENA Funding

Genex continues its strong relationship with the Australian Renewable Energy Agency (ARENA), whose support has been critical throughout the Project TFS program. To date, Genex has drawn down a total of approximately $2.37 million of its $4.0 million ARENA funding facility. The Company will continue to work closely with ARENA until the Project reaches Financial Close.

Prescribed Project

Following the Project's designation as a "Prescribed Project" in March 2016 by the Queensland State Government's Coordinator General, Genex continues to receive significant support from the Queensland State Government in navigating through the requirements of various state government departments during the Project development phase. This support has had a meaningful impact in terms of progressing the Project through the various approval stages. Working with the State Government, Genex will continue to engage actively with all stakeholders to ensure that final Project approvals can be achieved in a timely manner and in line with Genex's development timetable.

About ARENA

ARENA was established by the Australian Government to make renewable energy technologies more affordable and increase the supply of renewable energy in Australia. Through the provision of funding coupled with deep commercial and technical expertise, ARENA provides the support needed to accelerate the development of promising new solutions towards commercialisation. ARENA invests in renewable energy projects across the innovation chain and is committed to sharing knowledge and lessons learned from its portfolio of projects and information about renewable energy. ARENA always looks for at least matched funding from the projects it supports and to date has committed $1.1 billion in funding to more than 270 projects. For more information, visit www.arena.gov.au.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/6G8X50D4 

Michael Addison 
Managing Director
Tel: +61-2-9993-4411 
Email: ma@genexpower.com.au 

Simon Kidston
Executive Director
Tel: +61-2-9993-4443
Email: sk@genexpower.com.au
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Adelaide Resources Limited (ASX:ADN) Rover Farm-in and Joint Venture with Emmerson Resources

November 14, 2016, 2:51 pm
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Adelaide Resources Limited (ASX:ADN) ("ADN") has executed a Heads of Agreement with Tennant Creek focussed explorer Emmerson Resources Limited ("ERM") to form the Rover Farm-in and Joint Venture over the Company's Rover copper gold project.

Summary

- Adelaide Resources Limited and Emmerson Resources Limited ("ERM") have executed a Heads of Agreement to form the Rover Farm-in and Joint Venture over the Company's 100% owned Rover copper-gold project located southwest of Tennant Creek in the Northern Territory.

- Under the terms of the Agreement, ERM will sole fund $2.0 million within 3 years of execution to earn a 51% equity position, following which it can elect to sole fund a further $2.0 million over an additional 3 year period to increase its equity to 75%.

- An unincorporated Joint Venture can be formed once ERM has spent $2.0 million, after which the parties will contribute to further expenditure in accordance with their respective equity, or dilute using a standard industry formula.

- ERM must expend at least $0.5 million in the first year of the Farm-In before it has a right to withdraw.

- ERM will act as manager and operator during the Farm-in and thereafter while ever it holds majority equity.

- The deal will see a renewed period of exploration activity on these prospective copper-gold tenements.

Introduction

The Rover project comprises two wholly owned tenements (ELs 27372 and 27292) located 85km by road to the southwest of Tennant Creek in the Northern Territory (see Figure 1 in the link below).

The Rover Field is prospective for ironstone hosted copper-gold deposits geologically identical to deposits found in the Tennant Creek Field, many of which exhibited high grades allowing them to be profitably mined in the past.

Rover Farm-in and Joint Venture terms The principal terms of the Rover Farm-in and Joint Venture include:

- ERM can earn an initial 51% interest in the project tenements upon sole funding $2.0 million on exploration within three years of execution of the Heads of Agreement.

- ERM can then elect to either continue sole funding exploration or to enter into the Joint Venture.

- In the event that ERM elects to continue to sole fund exploration, it can earn an additional 24% equity (75% in total) through expenditure of a further $2.0 million ($4.0 million in total) over a further three years (six years in total).

- ERM may, at any point after earning its initial 51% interest, elect to cease sole funding exploration on the tenements and enter into the Joint Venture.

- Upon ERM making an election to enter into the Joint Venture the parties shall form an unincorporated joint venture with the objective to further explore the tenements and if appropriate, develop and mine minerals from within the project tenements.

- A party may elect not to contribute to a proposed Joint Venture programme and budget, in which event its Joint Venture interest shall be reduced in accordance with a standard industry dilution formula.

- Should a non-contributing party's Joint Venture interest fall below 5%, then that party's interest may at any time be acquired by the other party at a price to be negotiated in good faith, or failing agreement, at a price determined by an independent valuer.

- ERM will manage and operate the Rover Farm-in and Joint Venture during the initial $2.0 million farm-in stage and thereafter while ever it holds majority equity.

- ERM must fund a minimum of $0.5 million in the first year of the Rover Farm-in and Joint Venture before it has a right of withdrawal, and thereafter ERM must expend not less than the minimum amount required to meet the annual expenditure covenants of the two project tenements.

- If ERM fails to satisfy the initial $2.0 million farm-in expenditure by the third anniversary of the execution date, ERM shall be deemed to have withdrawn and will hold no interest in the project tenements.

- Expenditure incurred by ERM in order to gain access to the project tenements and to meet annual tenement rental and associated costs, and all costs associated with the meeting the obligations of the Deed of Exploration with the freehold aboriginal landowners, will constitute exploration expenditure.

Significance of the Rover Farm-in and Joint Venture to Adelaide Resources

Adelaide Resources acquired the Rover project tenements in 2005 from a subsidiary of Newmont Mining. In part consideration, Newmont was granted a royalty/buy back interest which it subsequently assigned to Franco-Nevada Australia Pty Ltd in 2009.

The Company completed an extensive exploration programme, discovering copper and gold at the Rover 4 and Rover 1 prospects, and recording encouraging results at other targets.

Due to the deep Wiso Basin cover sequence, which blankets the prospective underlying Warramunga Group metasediments to depths of between 100 and 200 metres, exploring the Rover tenements is an expensive exercise.

Drilling requires the use of diamond drilling methods, with the exploration holes often exceeding 500 metres in depth. Materially advancing the Rover project through sole funded expenditure has not been possible in the subdued markets of recent years, and the Company determined to seek third party funding.

Emmerson Resources has a clear Tennant Creek focus and the technical experience in the district to build on the solid results achieved by Adelaide Resources in the past.

The Rover Farm-in and Joint Venture Agreement with ERM will therefore place this project back on the value accretion path for Adelaide Resources' shareholders, simultaneously allowing the Company to concentrate its resources on the 100% owned Eyre Peninsula gold tenements.

Emmerson Resources' credentials Emmerson Resources holds 2,500km2 of ground in the Tennant Creek Field, owns the only gold mill in the region, and holds a substantial geological database plus extensive infrastructure and equipment.

Emmerson is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain as non-executive chairman, and former senior BHP Billiton and WMC executive Rob Bills as Managing Director and CEO.

Rover project background

Tennant Creek has been a centre of profitable gold and copper mining since the discovery of gold in the 1930's. In Tennant Creek style deposits, gold and copper are hosted in bodies of ironstone and their associated alteration haloes.

Gold and copper were discovered in the Rover Field in the 1970's when Peko Mines Ltd drilled a series of magnetic anomalies and intersected mineralisation of a style identical to that found at Tennant Creek.

The prospective geology of the Rover Field is buried beneath flat lying sediments of the Wiso Basin which accounts for the delay in its discovery decades after outcropping deposits in the Tennant Creek Field were found.

The potential of the Rover Field to deliver valuable mineral deposits is demonstrated by the Rover 1 deposit owned by Metals X Limited (MLX). At 30 June 2016, MLX quoted a Mineral Resource for Rover 1 of 6.81 million tonnes at 1.73g/t Au, 1.2% Cu, 0.14% Bi, 0.06% Co and 2.07g/t Ag, or 1.22 million ounces of gold equivalent.

There are two main zones of copper-gold at Rover 1, named the Jupiter Zone and the Western Zone. Rover 1 is currently the largest un-mined Mineral Resource in the combined Rover-Tennant Creek district.

Adelaide Resources' project comprises two granted tenements that secure 287 km2 of ground immediately north of the licences which host MLX's Rover 1 deposit. Drilling by ADN has confirmed that mineralisation in the Western Zone persists across the tenement boundary into the ADN's ground. Drill intersections recorded from ADN's ground include:

- 55m at 3.36% Cu, 0.16g/t Au from 357m; and 34m at 2.95% Cu, 2.14g/t Au from 450m; and 47m at 0.04% Cu, 1.51g/t Au from 510m. R1ARD30

- 15m at 1.73% Cu, 5.72g/t Au from 541m. WGR1D040-2

- 26m at 3.87% Cu, 0.22g/t Au from 445m. R1ARD35

- 19.75m at 3.31% Cu, 0.16g/t Au from 436.25. WGR1D050

The Rover 4 deposit is located 2 kilometres northeast of Rover 1 and is notable for hosting the shallowest mineralisation in the Rover Field. Previous drill intersections from Rover 4 include:

- 15m at 2.07% Cu, 0.15g/t Au from 221m. RV4ARD10

- 2m at 0.59% Cu, 20.0g/t Au from 268m. RV4ARD14

- 46m at 1.24% Cu, 0.14g/t Au from 306m. RV4ARD21

- 27m at 1.20% Cu, 0.25g/t Au from 333m; and 21m at 2.33% Cu, 0.94g/t Au from 379m. RV4ARD28

- 15m at 1.70% Cu, 1.48g/t Au from 164m; and 22m at 1.87% Cu, 1.30g/t Au from 212m. R4ARD40

The Company's tenements also secure a number of early stage prospects where limited drilling confirms the presence of additional mineralised ironstone systems. At Rover 12 encouraging drill intersections include:

- 17m at 0.76% Cu, 0.02g/t Au from 417m. R12ARD59-1

- 4m at 1.22% Cu, 5.57g/t Au from 405m; and 2m at 5.08% Cu, 0.35g/t Au from 414m. R12ARD59-2

ADN's Rover tenements capture the majority of the currently interpreted extent of the Rover Field. It offers an excellent opportunity to explore for high grade gold and copper deposits in an area that is effectively still at an exploration maturity comparable to that which immediately preceded Tennant Creek's halcyon period of mineral discovery which began in the 1950's and extended to the 1980's.

To view the press release, please visit:
http://abnnewswire.net/lnk/TUW85U62 

Chris Drown
Managing Director

Nick Harding
Executive Director, Company Secretary

Tel: +61-8-8271-0600
Email: admin@adelaideresources.com.au
www.adelaideresources.com.au
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Sayona Mining Ltd (ASX:SYA) Authier Lithium Project Progress Update

November 14, 2016, 3:31 pm
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Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to announce an update on the development activities at the Authier lithium project, Quebec, Canada.

Highlights

- Off-take options being evaluated to enhance project economics

- PFS progressing towards completion in 4th quarter 2016

PFS to determine optimal project configuration, capital and operating costs

- Metallurgical testing demonstrates ability to produce a high-grade spodumene concentrate

- Additional environmental testing underway to support baseline environmental study

Off-take and Project Value Adding Opportunities

The Company is exploring a number of options for selling or value-adding the high-quality spodumene concentrate that will be produced from a future operation at Authier. This includes direct sales of concentrate to converters that produce lithium products suitable for the global battery markets. Strong demand for the lithium products has driven concentrate prices to record levels and the Company has received strong interest for the supply of new concentrates to the market.

In early November, the Company attended a global lithium conference in China and held a number of discussions with interested parties seeking to establish long-term spodumene sales contracts. China is the global centre for the production of value-added lithium products and one of the potentially largest markets for the consumption of lithium-ion batteries. The Chinese Government has a stated clean energy policy, which includes significant investment subsidies, for growing electric vehicle sales from less than 500,000 in 2016 to over 5 million by 2020.

In addition, the Company is actively evaluating value-adding opportunities in the downstream lithium sector. Currently there is significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate. The Company is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility to enhance the project value, and improve the long-term competitive position of the project. Quebec is uniquely positioned with a number of significant commercial and market advantages. Quebec has excellent infrastructure including globally competitive, low-cost gas and electricity prices, skilled labour, road and rail transport networks, a supportive government, and is in close proximity to the US markets including, the Tesla Giga factory in Nevada.

Metallurgical Testing

SGS Lakefield in Canada is completing a detailed metallurgical test work program using 430 kilograms of drill core that was representative of the Authier deposit in terms of spodumene grade and mineralogical characterisation. This has included, adding the forecast 5% waste dilution that would occur mining, to the sample to as closely as possible simulate the ore feed to the metallurgical processing plant.

The process test work has successfully demonstrated the ability to produce high-grade concentrates using conventional flotation technology. The anticipated flow sheet incorporates crushing, grinding, mica removal via flotation, spodumene flotation, and drying and bagging. Authier ore has now been the subject of extensive metallurgical studies which the Company believes will significantly de-risk future commissioning and operation of the project.

The final stages of metallurgical test work program which incorporates locked cycle process testing of the Authier ore is nearing is nearing completion. Following completion of the locked cycle testing program, Bumigeme Inc will prepare an updated flow sheet, and capital and operating cost estimates for incorporation into the Pre-Feasibility Study ("PFS").

JORC Resource Upgrade and Pre-Feasibility Study

The Company is working towards completing its PFS in 2016. Drilling data from the 3,800 metre resource definition and extension drilling program just completed will be incorporated into an updated JORC Mineral Resource estimate for the PFS. Geotechnical data collated during the drilling program will be incorporated into a new optimised mine plan.

The PFS will assess the development potential of a simple, low strip ratio, open-cut mining operation and processing facility producing spodumene concentrate.

The PFS is being prepared by SGS Canada and Bumigeme who together have significant experience and expertise in all aspects of lithium resource definition, mining, processing and infrastructure requirements in Quebec. The PFS will assess the technical and economic viability of developing the Authier project, and expands on the Authier NI43-101 Technical Report, Preliminary Economic Assessment, completed in 2013.

Environmental and Permitting

A detailed base-line environmental study was completed at Authier in 2013. Whilst the report didn't highlight any significant environmental issues, it recommended a high-level focus on water and tailings management. As such, the Company has engaged consulting firms to undertake a number of updated studies, including:

- Tailings and waste rock disposal options including a geochemical characterisation program. However, based on the experience of other nearby similar deposits, the Company doesn't expect the tailings or waste rock to be acid generating or amenable to metal leaching; and

- A hydrogeological study to assess the hydrogeological conditions prevailing in the area, the current quality of the groundwater, and identify any potential impacts on the project ground water, plan the pumping activities, and to provide information for the geotechnical engineering and geo-mechanics of the project.

The Company is currently engaged with the local authorities to establish the permitting regime for Authier. It is expected that no Federal Government authorisation or Environmental Impact Assessment / Public Consultation process will be required if the project's planned annual production doesn't exceed 2,000 tonnes per day of ore (the same design rate in the 2013, Glen Eagle Resources, NI43-101, Authier Preliminary Economic Assessment). The Company will be required to apply for various operating permits and a mining lease.

Community Engagement

The Company recently met with the local La Motte council mayor to outline its development plans for the project. Authier is expected to create between 40 and 60 direct jobs and a major investment in the local community. The Company is also planning a number of community forums during 2017.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/F9PW91BZ 

Chief Executive Officer
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au
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Invigor Group Ltd (ASX:IVO) to Drive Growth Through $4Mil Convertible Note Issue

November 14, 2016, 3:35 pm
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Leading big data solutions company Invigor Group Limited (ASX:IVO) ("Invigor") today announced its intention to raise up to $4 million in a Convertible Notes Issue from sophisticated investors. The proceeds of the Convertible Notes will be used to retire $2.4 million Convertible Notes due in December and provide up to $1.6 million of additional working capital to the Company.

- RJL Investments Pty Ltd (Associated with IVO Chairman Gary Cohen) to take up to 30% of issue

- Proceeds to retire an existing $2.4M Convertible Note and provide $1.6M in working capital

- Funding will provide IVO with sufficient financial flexibility to fund near-term growth opportunities

- Investor Presentation attached

The Notes will be issued at 3 cents per share and issued for up to 18 months. A summary of the key terms of the proposed Convertible Notes are attached.

RJL Investments Pty Ltd, an entity associated with Invigor's Chairman and CEO, Gary Cohen, has advised the Company that it plans to take up to 30% ($1.2 million) of the issue, subject to approval by IVO shareholders at an EGM to be called by the Company in due course.

Gary Cohen commented: "This proposed funding will give Invigor the necessary financial flexibility to execute on its immediate growth opportunities and build scale into our current operating businesses.

"A proposed investment of up to $1.2 million by RJL Investments, an entity associated with me, reflects my strong confidence in Invigor and the potential value that that can be realised from this funding. Invigor is in the best shape in the Company's history and we are determined to capitalise on the opportunities available to us."

The Company will be marketing the Convertible Notes facility to sophisticated investors and selected lending institutions. Please refer to the attached Investor Presentation.

To view the presentation, please visit:
http://abnnewswire.net/lnk/M6K2PF17 

Gary Cohen
Chairman & CEO
Phone: +61-2-8251-9600
Email: info@invigorgroup.com
www.invigorgroup.com
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Petsec Energy Ltd (ASX:PSA) Block 7 Yemen Petsec Energy Increases Interest to 100%

November 14, 2016, 3:36 pm
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Petsec Energy (ASX:PSA) (OTCMKTS:PSJEY) is pleased to advise it has executed an agreement with KUFPEC to acquire their 25% working interest in Block 7, Al Barqa Permit, in the Republic of Yemen.

The KUFPEC transaction brings our potential interest in the block to 100% pending completion of the KUFPEC and Oil Search transactions which are subject to customary approvals from the Government of Yemen, the Ministry of Oil and Minerals.The KUFPEC agreement follows the agreement executed in 2015 with Oil Search Limited to acquire its 40% working interest in Block 7 and operatorship. Petsec is currently the registered holder of a 35% working interest in the block.

Block 7 is an onshore exploration permit covering an area of 5,000 square kilometres (1,235,527 acres) located approximately 340km east of Sana'a, the capital of Yemen. The block contains the Al Meashar oil discovery as well as an inventory of leads and prospects defined by 2D and 3D seismic surveys with significant oil potential.

Block S-1, acquired in February 2016 from Occidental Petroleum, holds the developed An Nagyah Oilfield, and four undeveloped oil and gas fields which hold substantial oil and gas resources, in excess of 34 million barrels of oil and 550 billion cubic feet of gas.

Crude oil shipments from Yemen restarted in August 2016 for the first time since March 2015 when 4 million barrels of oil were shipped from the Ash Shihr terminal near Mukalla on the Gulf of Aden, and in turn the Masila oilfields have returned to production. The Aden Refinery, which has a 150,000 bopd processing capacity, has returned to production and the Company anticipates the restart of the Total operated LNG plant at Bal Haf on the Gulf of Aden.

Petsec Energy's Chairman, Terry Fern, commented on the Agreement:

"We are pleased to have entered into this agreement with KUFPEC which increases our interest in Block 7 to 100%. The Al Meashar oil discovery and the 8 large prospects and leads in Block 7 hold the potential for substantial oil reserves and a consequent substantial increase in the value of Petsec Energy. We look forward to the early start of production from the An Nagyah Oilfield in Block S-1 and subsequent production from the two suspended wells on the Al Meashar oil discovery in Block 7".

To view the press release, please visit:
http://abnnewswire.net/lnk/M7OA43TQ 

Mr. Paul Gahdmar
Company Secretary & Group Financial Controller
Petsec Energy Ltd
T: +61-2-9247-4605
F: +61-2-9251-2410

Mr. Manny Anton
Head of Investor Relations
Petsec Energy Ltd
T: +61-2-9247-4605
F: +61-2-9251-2410
www.petsec.com.au
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Flexiroam Ltd (ASX:FRX) Flexiroam X Gains Traction with Singapore Airlines Staff

November 14, 2016, 3:44 pm
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Flexiroam Limited's (ASX:FRX) wholly owned subsidiary Flexiroam Asia Limited ("Flexiroam") has seen significant traction in its partnership with Singapore Airlines Staff Union ("SIASU").

On 2nd November 2016, Flexiroam announced that it had signed a partnership agreement with SIASU. Through the agreement, Flexiroam and SIASU agreed to co-market and coordinate sales of Flexiroam services to 10,600 SIASU members for a period of 2 years.

Within a short period of time, Flexiroam is pleased to announce positive results, with more than 1,550 members (around 15%) having already converted to paying customers, generating revenue of A$59,090 (an ARPU (Average revenue per user) of A$37.90). Flexiroam's brand association with TripAdvisor and PATA had given the crew members amongst SIASU's members confidence in adopting Flexiroam X.

Flexiroam expects a significant flow-on effect from the SIASU response, with every paying customer expected to refer at least one new subscriber to join Flexiroam X. The Company is currently in discussions with other airline unions to forge similar partnerships.

ABOUT SIASU

Singapore Airlines Staff Union is an organisation established in Singapore to represent the employees of Singapore Airlines Limited and some of its subsidiaries, with more than 10,600 members. SIASU strongly represents trade unionism and is responsible for achieving common goals. SIASU enhances the working condition, raises productivity and promote good industry relations for its members. 

Flexiroam Limited
Jef Ong
Managing Director
T: +61-8-62252364
E: investor@flexiroam.com
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Aconex Ltd (ASX:ACX) CFO to Retire

November 14, 2016, 3:45 pm
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Aconex Limited (ASX:ACX), a global leader of digital innovation in construction, today announced that its Chief Financial Officer (CFO), Steve Recht, has informed the Board of his intention to retire from the company and from full-time corporate life in 2017. To assist in the smooth transition to a new CFO, Mr. Recht has agreed to remain with Aconex until a handover to his successor can occur.

Aconex Chief Executive Officer Leigh Jasper paid tribute to Mr. Recht as a key member of the executive team and said, "Steve has made an outstanding contribution to the Company, including playing an integral part in the Company's IPO. He has made a significant contribution to the Company's success, growth and development since joining in 2012. Steve will be missed but I respect his decision to retire."

Mr. Recht said, "I have thoroughly enjoyed my time with Aconex's and being part of its success. I look forward to working with the CEO and the board on the transition."

The Board will shortly begin a search process to review potential internal and external candidates for the CFO role.

Supporting Resources

For more information on Aconex, please visit:

- Investor Centre: http://investor.aconex.com

Rachel Cooper
Aconex Limited
Phone: +61-3-9240-0269
Email: rcooper@aconex.com

Citadel-MAGNUS
Matthew Gregorowski
Phone: +61-2-8234-0100
Email: mgregorowski@citadelmagnus.com
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Search

Atrum Coal NL (ASX:ATU) All Atrum Partly Paid Shares Paid In Full

November 14, 2016, 4:18 pm
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Atrum Coal NL ("Atrum" or 'The Company") (ASX:ATU) (OTCMKTS:ATRCF) is pleased to advise that, as per the Appendix 3b filed on 14 November 2016, the remaining 2,761,600 partly paid shares held by former director and founder, Mr Russell Moran, have been paid up, and that there are no longer any partly paid shares on issue in the Company.

This has allowed the Company to put forward a resolution at the upcoming Annual General Meeting for shareholders to vote on converting the Company from a No Liability to a Limited (Ltd) structure. Total consideration paid to Atrum for the shares was $552,298.

Bob Bell, Executive Chairman, commented: "Mr Moran agreed to resolve the outstanding partly paid shares in order for the Company to change its structure from a No Liability to a Limited company. Atrum expects this will increase the appeal of our shares to various types of investors. Mr Moran agreed to resolve the issue for the benefit of all Atrum shareholders. The Limited structure is a more well-known structure, particularly to off-shore investors with less exposure to the NL structure." 

Robert W. Bell 
Executive Chairman
M: +1-604-763-4180
E: rbell@atrumcoal.com

Theo Renard 
Company Secretary
M: +61-430-205-889 
E: trenard@atrumcoal.com 
 
Nathan Ryan
Investor Relations
M: +61-420-582-887
E: nathan@atrumcoal.com
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Anatara Lifesciences Ltd (ASX:ANR) Chairman's Address to Shareholders

November 14, 2016, 5:50 pm
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Anatara Lifesciences Ltd (ASX:ANR) is pleased to provide the company's latest Chairman's Address to Shareholders at 2016 AGM.

FY16 in review - a year of significant progress

In a world where consumers are increasingly demanding antibiotic free meat, the need for products like Detach(TM) - our natural product for the control of gastrointestinal diseases in livestock - continues to build.

In support of this groundswell movement in consumer sentiment, in September, world leaders committed to working at national, regional and global levels to address the growing threat of antimicrobial resistance (AMR). This commitment came via the 71st meeting of the United Nations (UN) General Assembly. That it was only the fourth time the UN had held a meeting to address health issues and underscores how seriously world leaders are viewing drug resistance from overuse of antibiotics.

It stated that resistance to antibiotics was "...the greatest and most urgent global risk that requires increased attention and coherence at the international, regional, and national levels" and one which is gravely challenging many 20th century achievements.

In line with this thinking, during the year, international governments introduced tighter legislation around the use of antibiotics in livestock farming, actively promoting the judicious use of antimicrobials. A global 'One Health' collaborative effort from human and veterinary medicine, has created a funding and policy environment which is encouraging the development of new medicines, including antibiotic alternatives. These things combined see Detach(TM) positioned strongly to have an impact on the global animal health market and ultimately, on the health of humans.

Moving Detach(TM) to market

We submitted our application to the Australian Pesticides and Veterinary Medicines Authority (APVMA) to request registration approval of our lead product Detach(TM). While much was achieved during the year, the dossier was our clear primary point of focus and one which required considerable effort from the whole team.

The submission of our application to the APVMA was a significant milestone in the Detach(TM) development program and brings the Company closer to market launch in Australia.

Trials reduce piglet mortality

Under the guidance of Dr Tracey Mynott, Anatara has now completed several successful trials on Australian commercial pig farms.

Through trials, Detach(TM) showed an almost 50% reduction in mortality among young pigs whilst increasing the average weight of surviving piglets at weaning.

These improvements make a significant positive impact on animal health and farm productivity while reducing the reliance on antibiotics.

Our pivotal Target Animal Safety (TAS) study was completed for Detach(TM) post the period and demonstrated that Detach(TM) was safe for piglets, even when administered at much higher doses, and more frequently than recommended. Data from this study reinforces Anatara's pre-existing large safety database.

The TAS study was conducted to the highest international standard of major commercial territories and may reduce the need for separate TAS studies in each global jurisdiction where registration is needed. Long term, this strategy presents the most efficient and cost effective way to prepare for the global roll out of Detach(TM).

Ready to manufacture

The appointment in June 2016 of Dr Mike West as Chief Operating Officer, has been of enormous benefit in readying Anatara for commercial supply. With Mike's input, we now have the ability to manufacture commercial scale batches of Detach(TM) reproducibly, and to produce the necessary documentation for the APVMA registration.

Zoetis licensing option

A very pleasing start to the 2016 calendar year came via the significant announcement that the Company had entered into an exclusive option agreement with leading global animal health company, Zoetis Inc.

Under the agreement, Zoetis has the exclusive right to evaluate the potential applications of Detach(TM) for veterinary use in food production animals in all countries aside from Australia and New Zealand.

As the world's largest international animal health company, Zoetis has access to substantial research resources and facilities. Zoetis has already begun an aggressive evaluation program of Detach(TM).

Discussions have been held with the Zoetis researchers at their facilities in the USA and they have already DetachTM with which to begin their evaluation. In return, during the year, Anatara received an upfront payment.

Importantly however, we have retained the intellectual property protecting our technology. In this context, it should be noted that we have applied for two new patents covering both the formulation and active ingredient.

Commercial focus

Anatara's initial focus remains on the pork industry globally, however with the pending Australian APVMA registration, the team is increasing its focus on pursuing lucrative human applications for our technology.

In June 2016, we announced a research and development collaboration with The La Trobe Institute for Molecular Science at La Trobe University (Melbourne) to explore the potential of the active components within Detach(TM) for the treatment of inflammatory diseases in humans and companion animals.

Investor relations

During the year, the Company continued an active market awareness program with presentations being delivered to the Brisbane Investors group, CommSec's "Executive Series", the Gold Coast Investment Showcase, ASX's "The CEO Sessions" and the Financial News Network, as well as participation in the 12th Bioshares Biotech Summit. In addition, Anatara has presented to a combination of new and existing institutional investors.

On behalf of my fellow directors, I thank all our shareholders for their support throughout the year.

In closing

The geographical concern around the overuse of antibiotics in both livestock and humans continues to escalate.

Taco Bell, In-N-Out Burger, Subway, Perdue Farms and Cargill have joined the ever growing list of major US food companies looking to provide antibiotic free meat.

At a time when scientists have confirmed the discovery of a new mechanism of resistance in bacteria to the "last ditch" human antibiotic, colistin, there has never been a greater imperative for antibiotic alternatives. Finding this startling new superbug, in meat, animals and humans, now confirmed in more than twenty countries, completes the link between agricultural use of antibiotics and antibiotic resistance in animals and humans.

Anatara's naturally derived products offer a safe and effective alternative to antibiotics for gastrointestinal diseases and the Company is uniquely positioned to fulfil a currently unmet need in the huge, global animal health market.

The increasingly supportive macro-environment and progress at a company level combine to make this an exciting time to be a shareholder in Anatara.

Finally, the small Anatara team has accomplished much throughout the year. My thanks to the team for their ongoing dedication and commitment to bringing Detach(TM) through to commercialisation. Thanks also to my fellow Directors for the discipline applied to guiding the Company during the year. 

Anatara Lifesciences Ltd
E: info@anataralifesciences.com
WWW: www.anataralifesciences.com
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Anatara Lifesciences Ltd (ASX:ANR) AGM Presentation

November 14, 2016, 5:51 pm
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Anatara Lifesciences Ltd (ASX:ANR) is pleased to provide the company's AGM Presentation held on 15 November 2016.

Oral therapeutics for gastrointestinal disease in livestock and humans

Detach(TM)

- Natural, safe, non-antibiotic therapeutic that prevents and treats gastrointestinal diseases, including diarrhoea

- Meets the need to reduce the use of antibiotics in animal production

- Unlike antibiotics, Detach(TM) will not contribute to antimicrobial resistance

Market Opportunity is clear

- Detach(TM) addresses a major need - the livestock industry need effective alternatives to antibiotics to prevent diarrhoea

- Global animal antibiotic market valued at ~ $4.6 billion in 2014. Production animals 70%. Pigs lead by market share of 25%.

- Pork is #1 consumed meat in the world

- Global demand for meat is rising. More than 85% more meat needed by 2030.

- Governments are banning antibiotics for growth promotion and restricting prophylactic use in animal production

- Consumers want their meat to be safe

- Retailers are pledging to offer 'antibiotic free' meat

FY16 - Key Achievements

Milestone

Partnering

Zoetis have exclusive worldwide right (excl. AU/NZ) to evaluate Detach(TM) for veterinary use in livestock

Animal safety trials

Detach(TM) proven safe in piglets even when administered at 5x and more frequent than the recommended dose

Submission of dossier to APVMA

Anatara's application for registration of Detach was lodged with the APVMA (post reporting period).

Detach(TM) Poised for swift market entry - Commercially validated, supported by demand

- A clear path to market: Launch in 2017

-- Proven efficacy on commercial pig farms (therapeutic claims)

-- Proven safety (active ingredient is GRAS)

-- Manufacturing complete at commercial scale and global supply confirmed

- Introduction of DetachTM is supported by industry, government, retailer & consumer demand

- Commercially validated

- Detach(TM) will be supplied in Australia via preexisting distribution channels (Australian pork industry is heavily consolidated)

Detach(TM) for Humans

Status

- Mode of action clearly understood, based on decades of research

- Pre-clinical efficacy database is very strong due to leverage of Detach(TM) data from pig studies

- Proof of concept in several animal models

- Confirmed efficacy in rabbit models with human diarrhoea pathogens

- Proof of concept in mouse model of inflammatory bowel disease

- Margin of safety studies (1x, 3x and 5x dose) in piglets completed (TAS study)

- Human Safety studies (Phase I) in healthy volunteers completed

-- 28 day treatment was very well tolerated

To view the presentation, please visit:
http://abnnewswire.net/lnk/9152W055 

Dr Mel Bridges
CEO, Chairman & Co-founder
Anatara Lifesciences
Phone: +61-413-051-600
Email: mbridges@anataralifesciences.com

Dr Tracey Mynott
CSO & Co-founder
Phone: +61-405-050-113
Email: tmynott@anataralifesciences.com
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Invigor Group Ltd (ASX:IVO) Investor Presentation

November 14, 2016, 6:17 pm
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Invigor Group Ltd (ASX:IVO) is pleased to provide the company's Investor Presentation held in November 2016.

Investment Highlights

- Growing Data & Analytics Market

-- Provides unique exposure to the rapidly growing market for data and analytics

- Diversified Revenue Streams

-- Including blue chip customers

-- Pipeline of new revenue generating contracts continues to grow

-- Major growth opportunities based on new products

-- Media sales from more personalised content

- Experienced Team

-- Highly experienced operations team in place - including head of European operations

- Stronger Balance Sheet

-- Restructured debt to provide a stronger balance sheet

Strong operational progress across all businesses

Market Intelligence

Retail

- 3 year contract with The Good Guys

- Treasury Wines (ASX:TWE) contract secured

- Epson, TCL and Navman all renew contracts

- Recent alliance with IDC, globally renowned data research group

SpotLite

- Scheduled for November release

- Low delivery cost driving high subscriber volume

- Targeting SME's in all markets

- Upsell potential to Insights Retail

- Significant new revenue stream

WiFi Analytics & Engagement

- Successful deployment at Major CBD Shopping Centres & Sunshine Coast

- JV to monetise 6m annual passenger movements at Manly Wharf, NSW

- New contracts secured at Preston Market and Zoos Victoria

- Partnership secured with Sprooki for loyalty marketing purposes

Digital Solutions

- $900,000 worth of new contracts announced

- First major contract outside Germany with Ericsson UK

- Major contract with ZDF - Germany's largest public broadcaster

Corporate and Operational Milestones

- JUL'14 INVIGOR GROUP ACQUIRES GLOBAL GROUP

- DEC'14 INVIGOR GROUP ACQUIRES AMETHON

- MAY'15 INSIGHTS RETAIL NAVMAN 1st CONTRACT

- NOV'15 INVIGOR GROUP ACQUIRES CONDAT

- APR'16 INSIGHTS VISITOR SHOPPING CENTRE CONTRACT

- MAY'16 INVIGOR GROUP PARTNERSHIP SPROOKI

- JUN'16 INSIGHTS RETAIL 2 CE RETAILER CONTRACTS

- JUL'16 INSIGHTS RETAIL MAJOR RETAILER 3 YEAR CONTRACT

- JUL'16 INVIGOR GROUP PARTNERSHIP IDC

- AUG'16 INSIGHTS VISITOR MANLY WHARF CONTRACT

- SEP'16 CONDAT ZDF CONTRACT

- NOV'16 SPOTLITE LAUNCH

Well Placed for Growth

- Established and Validated

-- Invigor's product suite has been established and validated

- Continuous Growth

-- Asia/Europe expansion

-- Strengthened balance sheet

-- Underpinned by growth in all business divisions

-- Ongoing discussions and assessment of strategic partnerships

- New Revenue Streams

-- SpotLite launch to provide further revenue stream

-- Media sales from more personalised content

-- Pipeline of new revenue generating contracts continues to grow

To view the presentation, please visit:
http://abnnewswire.net/lnk/1NWM6YO8 

Invigor Group Ltd
T: +61-2-8251-9600
E: info@invigorgroup.com
WWW: www.invigorgroup.com.au
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Global Geoscience Limited (ASX:GSC) Discovery of Searlesite Zone

November 15, 2016, 2:46 pm
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Global Geoscience Limited (ASX:GSC) ("Global" or "the Company") is pleased to announce the discovery of the Searlesite Zone at South Basin, Rhyolite Ridge Lithium-Boron Project in Nevada, USA. During a recent site visit attended by Bertolli and Ehren, a 20 metre thick zone of lithium-boron mineralisation associated with the mineral searlesite was identified ("Searlesite Zone"). The Searlesite Zone has low clay content and is coarser-grained which enhances its ability to be processed relative to other zones within the deposit.

Highlights

- Rhyolite Ridge lithium-boron mineralisation found to contain abundant searlesite, a silicate mineral.

- The high-grade Searlesite Zone

-- accounts for 97% of the high-grade component of the South Basin Resource1 - 65 million tonnes at 2.0% lithium carbonate equivalent grade and containing 650Kt of lithium carbonate, 5.9Mt boric acid and 1.4Mt of potassium sulphate

-- averages 20 metres thickness over the South Basin Resource area (1x1.8km)

-- outcrops and is open in three directions

-- is large enough to support a 20-year mining operation at a rate of 3Mt per annum

-- is leachable with dilute acid and has a low clay content

- The metallurgical team headed by Bertolli and Ehren is evaluating a simple process route involving crushing, screening and flotation followed by dilute acid leaching to liberate lithium and boron.

- The relatively simple process route is expected to compare favourably to other sources of lithium such as the capital intensive brines and opex intensive spodumene deposits.

- The markets for lithium and boron are strong both in the USA and globally, further enhancing the attractiveness of the Rhyolite Ridge Li-B project.

Global's Managing Director, Bernard Rowe commented: "This is a potential game changer for the Rhyolite Ridge project. The fact that the highest value mineralisation occurs in a part of the deposit that contains abundant, relatively coarse searlesite is very favourable for processing and significantly enhances the potential for low-cost production of lithium carbonate and boric acid."

Large Tonnage, High Grade

The Searlesite mineralisation is the highest value mineralisation within the South Basin Resource and constitutes 97% of the high-grade component. It occurs in the Upper Lens of the deposit and is open in three directions.

- 65 million tonnes at 1,900 ppm Li (1.0% Lithium Carbonate), 1.6% B (9.1% Boric Acid) and 1.0% K (2.2% Potassium Sulphate) (1.8% LCE cut-off)

- Lithium Carbonate Equivalent grade of 2.0%

- Containing 650Kt of lithium carbonate, 5.9Mt of boric acid and 1.4Mt of potassium sulphate

Open Pit Mining

The Searlesite zone in the Upper Lens is likely to be amenable to low-cost open pit mining. It averages approximately 20 metres in thickness and extends from surface to a depth of 250m. The zone is flat lying to gently dipping and outcrops along the western margin of the basin.

Low-Cost Processing

Due to its low-clay content and relatively coarse grain size, the searlesite mineralisation is likely to be readily treatable and upgradable. Clay and other acid consuming minerals are likely to be removed using low-cost methods including screening and flotation. The resultant concentrate could then be leached using dilute sulphuric acid, minimising acid consumption.

Acid Leachable

Previous test work has demonstrated that lithium and boron can be leached from the searlesite mineralisation using dilute sulphuric acid and high recoveries have been achieved. Acid consuming minerals such as calcite, dolomite and clay have a significant impact on the economics of acid leaching and hence it is important to remove as much of these minerals as possible prior to leaching.

Metallurgical Test Work

A program of metallurgical test work is underway with staged results expected over the next six to eight weeks. The test work includes:

1. Crushing and screening to determine if clay material can be separated without significant loss of Li and B

2. Flotation and other methods to determine if Li- and B-bearing minerals can be separated from gangue minerals including acid consuming minerals such as calcite and clays

3. Acid leaching of the Li-B concentrate to determine B/Li recoveries and acid consumption

Metallurgical Mapping at South Basin

The South Basin deposit at Rhyolite Ridge Project has a Resource of 393 million tonnes at 1,600ppm Li (0.9% Lithium Carbonate), 0.5% B (2.9% Boric Acid) and 0.76% K (1.7% Potassium Sulphate) totalling 1.2% Lithium Carbonate Equivalent (LCE) using a 0.6% LCE cut-off. Included in this are high-grade zones totalling 65 million tonnes at 1,900 ppm Li (1.0% Lithium Carbonate), 1.6% B (9.1% Boric Acid) and 1.0% K (2.2% Potassium Sulphate) totalling 2.0% Lithium Carbonate Equivalent estimated using a 1.8% LCE cut-off (Global Geoscience Ltd, 2016).

The deposit consists of at least two distinct types of mineralisation: "Clay" and "Searlesite" types. Clay-type mineralisation typically contains over 2000ppm lithium, less than 0.1% boron, is higher in calcium and magnesium, lower in silica, sodium and potassium and occurs in clay-rich sediments. Most of the mineral grains in the clay type are less than 20 microns (0.02mm) in diameter.

Searlesite-type mineralisation typically contains 1500-2000ppm lithium and greater than 1% boron, is higher in silica, sodium and potassium and lower in calcium and magnesium. Most of the mineral grains in the searlesite-type are greater than 100 microns (0.1mm).

The difference in chemistry is reflected in the mineralogy of the two types:

- Searlesite type - averages about 35% searlesite, 20% calcite, 15% sepiolite and 25% acid insoluble minerals including mainly silicates

- Clay-type - averages about 5% searlesite, 35% calcite, 25% sepiolite and 30% acid insoluble minerals including clays and other silicates

Searlesite is a B-Na bearing silicate mineral (NaBSi2O5(OH)2) containing up to 5% boron (by weight) and is the only acid soluble boron mineral identified to date at South Basin. It is therefore assumed that all boron at South Basin is probably contained within searlesite. Laser ablation measurements indicate that searlesite may also contain significant amounts of lithium in parts of the deposit. Searlesite grains are generally over 250 microns (0.25mm) in diameter.

Sepiolite is a Mg-bearing silicate which is also acid soluble. Laser ablation measurements indicates that sepiolite at Rhyolite Ridge contains significant lithium concentrations. Sepiolite grains are generally over 100 microns (0.1mm) in diameter.

The Upper Lens of the deposit hosts both types of mineralisation. An uppermost 10 to 20 metre thick Clay zone is underlain by a 15 to 30 metre thick Searlesite zone. The Searlesite zone within the Upper Lens accounts for 97% of the high-grade component of the Resource.

About Rhyolite Ridge Lithium-Boron Project

The Rhyolite Ridge lithium-boron project (22km2) is located close to existing road and power infrastructure in southern Nevada. The project has potential as a strategic, long-life, low-cost and reliable source of lithium, boron and potassium. Two sedimentary basins (North and South) contain thick, shallow, flat-lying zones of lithium-boron-potassium mineralisation. The mineralisation is hosted within fine-grained, carbonate-rich sediments (marl). Global has the exclusive right to purchase 100% interest in the project from the owner, a private Nevada company.

To view the press release, please visit:
http://abnnewswire.net/lnk/4797RA09 

Bernard Rowe
Managing Director
Global Geoscience Ltd
T: +61-2-9922-5800
E: browe@globalgeo.com.au 

Darien Jagger
Executive Director
Cygnet Capital Pty Limited
T: +61-8-9226-5511
E: dj@cygnetcapital.com.au
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XPED Ltd (ASX:XPE) Secures up to $10 Million Premium to Convertible Note

November 15, 2016, 4:01 pm
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Xped Limited (ASX:XPE) ("Xped" or "the Company") is pleased to announce a $10m premium to market convertible 3 year, 8.35% percent note along with a Share Purchase Plan (SPP) of up to $7.5m priced at 3.3c per shares with a 1:1 attaching option exercisable at 5c and expiring in December 2018. The company expects to have this option listed post regulatory and shareholder approval.

Highlights

- Xped secures up to $10,000,000 convertible note from leading institutional investor

- Conversion of facility to occur at a 20% above market price when converted

- Existing shareholders rewarded with ability to participate in $7.5mn SPP (3.3c per share with 1:1 5c attaching DEC 18 option)

- SPP Option to be listed

- Various resolutions withdrawn from AGM

Upon closing the Company will have up to $25m on hand to deliver and execute on its planned aggressive growth and expansion.

New Funding Facilities

The Company has entered into a term sheet with a leading financial institution to provide up to $10m convertible note financing to Xped to achieve current milestone targets underway.

Under the terms, Xped will issue convertible notes with a first tranche face value of $3,333,333 (to be split into two separate closings). The Company will have access to two subsequent convertible notes with a face value of $1,000,000 each with the right to increase up to $3,333,333 each as agreed between the parties.

Conversion of the convertible note (plus interest) is at a 20% premium to the lowest 2 days of the prior 5 day VWAPs prior to conversion. The institution can elect to convert up to half of the first tranche at 5c per share and up to half of any other tranches at a 40% premium to the lowest 2 days of the prior 5 day VWAPs prior to the relevant closing.

Interest accrues on the Amount Outstanding under the convertible notes at 8.35% per annum with an interest 'make whole' mechanism if the institution converts prior to the maturity date.

The investor will be also issued 35m listed December 2018 options for Tranche 1 (Options to be on the same terms as the SPP options).

The convertible notes will be unsecured, except by the issue of 20,000,000 collateral shares (which the Company will only be obliged to issue if the Company's share price falls below 1.6c per share).

All of the securities in conjunction with the convertible notes will be offered pursuant to a prospectus to be lodged by the Company within 30 days. The issue of all of the securities in conjunction with the convertible notes (other than in respect of convertible notes with a face value of $2,000,000) is subject to shareholder approval which will be sought at an upcoming Extraordinary General Meeting.

In conjunction with the issue of the Convertible Securities, the Company has agreed to issue to advisors 75m listed December 2018 options on completion of Tranche 1 (Options to be on the same terms as the SPP options).

Funds raised by the convertible notes will be used for:

- Acceleration of roll out with new channel partners, and recent acquisitions, additional capital is required for acquisition integration and development costs;

- Further expansion capital required to expand service offering and secure additional channel partners; and

- Costs of the offer

Full details of the facility are provided in the accompanying Appendix.

Share Purchase Plan

The Company plans to offer new shares to its existing shareholders and will be releasing formal documentation in respect of the Company's proposed Share Purchase Plan ("SPP") in early December to raise up to $7.5m.

Under the SPP each eligible shareholder will be entitled to apply for up to $15,000 of new ordinary shares at an issue price of 3.3c per Share.

The Company will be offering a new option series to subscribers of shares under the SPP. Under the SPP there will be one option for every one share subscribed and the new option series will have an exercise price of 5c with expiry in December 2018. The company expects to have these options listed, subject to shareholder and regulatory approval.

The SPP Offer details will be released to market in due course and will be offered pursuant to a prospectus. The SPP will be subject to approval from shareholders at an upcoming Extraordinary General Meeting.

Funds raised by the SPP will be used for:

- Acceleration of roll out with new channel partners, and recent acquisitions, additional capital is required for acquisition integration and development costs;

- Further expansion capital required to expand service offering and secure additional channel partners; and

- Costs of the offer

To view the full press release, please visit:
http://abnnewswire.net/lnk/UA3N5495 

For Xped Inquiries:
Company Secretary
T: +61-3-9642-0655
F: +61-3-9642-5177
E: info@xped.com
www.xped.com
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Metals Creek Resources (CVE:MEK) Intersects 5.73 g/t Gold Over 8.2m at Thomas Ogden Zone, Timmins, Ontario

November 15, 2016, 4:27 pm
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Metals Creek Resources Corp. (CVE:MEK) (OTCMKTS:MCREF) (FRA:M1C1) (the "Company") is pleased to announce drill results from the first hole of a recently completed six hole drill program on the Ogden Gold Project in Timmins, Ontario.(see MEK news release dated September 20, 2016). A total of 2382 m was drilled, targeting the down dip extension of the Thomas Ogden Zone (TOG) as well as testing for secondary fold structures. This initial hole intersected the TOG horizon and returned an intersection of 5.73 grams per ton (g/t) gold over 8.2 meters (m). Assay results from the other five holes are pending. The Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. (NYSE:GG) and Goldcorp Canada Ltd. (TSE:G) with MEK being the operator of the project. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Fault between Goldcorp's 16 million oz. Dome Mine and Tahoe Resources West Timmins Mine. The vast majority of the Porcupine-Destor Fault on the property is underexplored, compared to other properties in the Timmins Gold camp.

TOG-16-47 was designed to further define the TOG horizon along an interpreted primary fold structure which appears to be an important structural control for the location of high grade gold mineralization. The TOG horizon was intersected at a down-hole depth of 222.3 m and assayed 5.73 g/t gold over 8.2 m, visible gold was noted in this intersection. This intersection is described as a strongly altered conglomerate characterized by strong albitization and silicification associated with 1 to 5% disseminated pyrite, with local arsenopyrite. A second zone of similar mineralization was intersected, from 281.35 to 288.64m and returned 1.27 g/t gold over 7.29m. This lower gold zone is interpreted to represent a new parallel fold structure south of and below the primary fold structure. It is described as having similar geology, mineralization and alteration to that of the primary fold structure.

Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.

Results from the remaining 5 holes will be released once they are received and compiled.

All split core samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.

Metals Creek has been accepted to participate in the Junior Exploration Assistance Program (JEAP) grant of upto 33.3% of approved exploration expenses up to a maximum of $100,000 on the Ogden Project. MEK would like to thank the Northern Ontario Heritage Fund and the Ontario Prospectors Association for the opportunity to participate in this program.

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

Alexander (Sandy) Stares 
President and CEO
Metals Creek Resources Corp
T: +1-709-256-6060
F: +1-709-256-6061
E: astares@metalscreek.com
WWW: www.metalscreek.com
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Search

Alt Resources Ltd (ASX:ARS) Mt Roberts Initial Drilling Results

November 15, 2016, 5:41 pm
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Alt Resources Ltd (ASX:ARS) ("Alt or the Company") is pleased to announce encouraging initial results from the Mt Roberts-Cottee gold project, near Leinster, WA (see Figure 1 in the link below). A 34 hole (2,088m) RC program was completed on the 8th November, 2016. The program was designed to confirm results from historical drilling, test beneath old workings and extend known mineralisation at depth and along strike.

Key Points:

- Initial results from Alt's first drilling campaign at Mt Roberts return up to 67.4 g/t Au

- Significant intercepts include:

-- MRRC0003: 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au

-- MRRC0008: 1m @ 20.3 g/t Au

-- MRRC0009: 1m @ 24.4 g/t Au, and 4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au

- Results confirm high grade mineralisation beneath Mt Roberts workings

- Assays for first 12 RC holes reported here, with results for 22 RC holes pending

Significant results from new drillholes include:

- MRRC0003: 3m @ 28.62 g/t Au from 19m, including 1m @ 67.4 g/t Au from 19m

- MRRC0004: 1m @ 1.73 g/t Au from 42m

- MRRC0006: 3m @ 1.95 g/t Au from 17m

- MRRC0007: 1m @ 5.59 g/t Au from 29m

- MRRC0008: 2m @ 1.21 g/t Au from 39m, 1m @ 1.28 g/t Au from 43m, 1m @ 20.30 g/t Au from 49m

- MRRC0009: 1m @ 24.40 g/t Au from 64m, 4m @ 7.96 g/t Au from 78m, including 2m @ 13.75 g/t Au from 80m, 1m @ 2.70 g/t Au from 89m

- MRRC0010: 1m @ 2.67 g/t Au from 16m

- MRRC0011: 1m @ 1.43 g/t Au from 5m

- MRRC0012: 1m @ 1.39 g/t Au from 39m, 2m @ 1.20 g/t Au from 46m

Mount Roberts-Cottee Project

The Mount Roberts-Cottee Project is located 9 km northwest of Leinster (see Figure 1 in the link below) and 19 km northeast of the 3.8 Moz Agnew Gold Mine operated by Gold Fields Ltd. The project lies within the Agnew-Wiluna Greenstone Belt, which is host to several major gold deposits including the Agnew Gold Mine, Lawlers and Vivien, within or near the Agnew Gold Camp.

The project area is characterised by a tightly folded sequence of altered komatiites, basalts, felsic volcanics, and fine sediments (see Figure 2 in the link below). Mount Roberts-Cottee is located on the eastern limb of the Mt White Syncline and the western limb of the Leinster Anticline. Major NNW-striking shears are located to the east and west with secondary mineralised splays occurring within the licence area.

Gold mineralisation occurs within a shear zone in close proximity to the ultramafic-mafic contact. It forms a west dipping lens in the southern part of the project, and dips to the east in the northern area. Mineralisation has been intersected in historical drilling along a 200m strike length and remains open at depth.

Rotary Air Blast (RAB) and Reverse Circulation (RC) drilling was conducted in 1998 by Consolidated Gold Mines Ltd targeting the sheared contact between the komatiite and basalt units. Most holes were angled to the west, along a west-dipping contact and thus may have missed the most significant zones of gold mineralisation. Significant intercepts from historical drilling were detailed in Alt Resources' announcement on the 30th August, 2016 (http://www.abnnewswire.net/lnk/PS7JB6B3).

The location of new drilling by Alt Resources is shown in Figure 3 (in the link below). 34 holes were drilled, for 2,088m, across the two mining licence areas. The main focus of the program was improving the density and level of confidence in historical drilling at the main zone of mineralisation at the Mt Roberts prospect. 3 additional exploration holes were drilled at the Kathleen prospect, as well as 5 holes at the Ananas prospect, defined by the large soil anomaly in the south (see Figure 2 in the link below).

Initial assay results have been returned for holes MRRC0001 to MRRC0012. These holes are from the southern portion of the Mt Roberts prospect, testing beneath and along strike from a series of old shafts and workings. Significant results are shown in Table 1 (in the link below). The location of new and historical results are shown in Figure 3 (in the link below). Cross-sections of the significant intercepts are shown in Figures 4, 5 and 6 (in the link below).

The remaining assay results for the drilling program are expected in the coming weeks, and will be announced on receipt.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/KQJ6UJ73 

Alt Resources Ltd
T: 1300-66-00-01
M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au
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XPED Ltd (ASX:XPE) Xped App Now Available in Both the Google Play(TM) Store and the Apple App Store

November 15, 2016, 5:54 pm
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Xped Limited (ASX:XPE) ("Xped" or "the Company") is pleased to provide a Company Update on recent events:

Xped App

The Xped App has been approved by Apple (NASDAQ:AAPL) and is now available in the App store. The Xped App is now available in both the Google (NASDAQ:GOOG) Play(TM) Store for Android devices and the Apple App store for iOS devices. The Xped App is an essential component of the Auto Discovery Remote Control (ADRC) technology solution providing the user interface.

A Chinese language translation of the Xped App has been completed for both Android and iOS. China is a key target market for the implementation of the ADRC technology and providing a native language interface for the Xped App is critical to the adoption of the technology within this market.

Bluetooth capabilities are being integrated into the Xped App. Xped is expanding the capabilities of the Xped App to meet partner requirements and to enhance their "One App" strategy. One aspect of the new functionality will enable the Xped App to connect with existing non-ADRC Bluetooth devices such as off the shelf wireless speakers and headphones. A second aspect is to allow proximity 'tap' pairing using Bluetooth Low Energy (BLE) in addition to NFC. When complete this will greatly enhance the experience of iPhone users.

Auto Discovery Remote Control

Customer Registration cloud service has been successfully deployed into a production environment. This has been developed on the Microsoft Azure platform and integrates with the Xped App.

Significant progress has been made on the Manufacturer Product Registration cloud service and it is in final stages of testing prior to migration to production. This will allow product manufacturers to leverage the ADRC technology platform, enhance their consumers' experience, and capture valuable data. Some of the benefits include automatically capturing product registrations through Xped App, capture device performance data and faults. Through integration with the Customer Registration cloud service, manufacturers will be connected with their end consumers.

A subGHz band radio is being developed for the ADRC platform to enhance functionality for the Smart Buildings and Smart Health segments. This variant provides long range reliable PAN communications for industrial and commercial applications.

Patents Granted in Chile

The Company has also received confirmation that its Arrangement for Managing Wireless Communication Between Devices (ADRC) patent filed in Chile has been successfully granted.

The ADRC patent has been granted in USA, Japan, Russia, Mexico, South Africa, China, Korea and now Chile. This patent remains pending in a number of jurisdictions including EU and Australia.

Notification has also been received by the Company confirming its Remote Control Arrangement (XERTS) patent filed in Chile has been successfully granted. This patent has been previously granted in China, Singapore and Korea.

Open Connectivity Foundation (OCF)

Chris Wood, Xped Executive Director, and Chief Technology Officer, attended the OCF Fall Members Meeting held in Taiwan last week. This was the first opportunity for Chris to attend an OCF meeting since Xped became a Platinum Member.

Chris attended general member sessions, as well as meetings specific to Health Care and the Smart Home. Chris now has a more detailed understanding of the status of OCF activities and the working groups to participate in. Xped has joined the Health Care Project, Smart Home Project, Architecture TG and Data Model WG and is eligible to vote in these and influence the direction.

This was an excellent networking opportunity for Chris to meet other OCF members and discuss opportunities for Xped technologies. Several follow up meetings have been scheduled demonstrating the value of OCF participation.

Codium Acquisition

On 14th October 2016 Xped announced it had executed a term sheet with the shareholders of Codium Pty Ltd ("Codium") to acquire 70% of the issued capital (Majority Shares") in Codium, with an option to acquire the remaining 30% ("Proposed Transaction"). Xped is continuing through the due diligence process and expects that all aspects will be completed within expected timeframe of 30th December 2016. 

For Xped Inquiries:
Company Secretary
T: +61-3-9642-0655
F: +61-3-9642-5177
E: info@xped.com
www.xped.com

Corporate Enquiries: 
Seneca Financial Solutions
Cameron Low
T: +61-3-9245-6206
E: cameronl@senecafs.com.au
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iSignthis Ltd (ASX:ISX) Reach Expands in Light of Coinify/Blockchain Partnership

November 15, 2016, 7:36 pm
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iSignthis Ltd (ASX:ISX) is pleased to announce the expansion of its services within the bitcoin industry via its existing relationship with Coinify ApS who recently announced a new partnership with Blockchain, an industry leader with over 50% market share.

Highlights:

- Coinify announce strategic partnership with bitcoin wallet provider Blockchain

- Coinify continue to use iSignthis Digital KYC solution to identify customers

- Coinify's new strategic partnership provides iSignthis with access to a new market and new customers

- Service is beta tested by selected Blockchain customers prior to global launch

"We believe that this strategic partnership gives a whole new perspective in how to collaborate in the industry.," said Mark Højgaard, CEO and Co-Founder of Coinify.

The iSignthis Digital KYC service is able to remotely identify any of the 3.5Bn financially included persons globally. This allows for the automated on-boarding of paid customers in as little as 3 to 5 minutes, whilst meeting Anti Money Laundering and Counter Terrorism Financing regulations.

N J (John) Karantzis, CEO and Managing Director of iSignthis, said: "We are delighted to continue our relationship with Coinify and to assist them in the expansion of their business. We will continue to provide KYC services enabling them to identify new customers and deliver an efficient on-boarding process to their increased customer base. Coinify will be advantageously positioned to meet the proposed revision to the EC's 4th AML Directive, that seeks to regulate digital currency operators from early 2017."

Mark Højgaard concluded: "What we see here is the future of bitcoin and other blockchain currency payments, where we are serving users with the lowest entry barriers possible. I believe that joint efforts in increasing the ease of use for the end consumer will attract more users to the bitcoin world, and thus boost the blockchain currency adoption at large."

About Coinify ApS

Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals.

The company incorporated in 2014 and is backed by a multimillion dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace. With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e¬commerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named 'Emerging Star' in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the 'European FinTech Top 100'; won the IFM Award for 'Best Electronic Payment Solution' and GBAF Award for 'Best Payment Solutions Provider Company Denmark'.

Visit www.coinify.com for more information. 

iSignthis Ltd 
+61 3 8640 0990	
Todd Richards; Company Secretary
Email: investors@isignthis.com

Coinify ApS
+45 3693 4994
Lenka Hudakova; PR Manager
Email: lhu@coinify.com
↧

Sayona Mining Ltd (ASX:SYA) Drill Results Demonstrate Potential to Expand JORC Resource

November 16, 2016, 3:27 pm
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Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) ("Sayona" or the "Company") is pleased to announce the assay results from the final ten diamond drill holes at the Authier lithium project, Quebec.

Highlights

- High-grade spodumene mineralisation intersected at shallow and deep levels

- New drilling expands high-grade zones of spodumene mineralisation throughout the deposit including, 23 metres @ 1.77% Li2O

- Drilling program has demonstrated the potential to expand the size of the JORC Resource

All the diamond drill holes have intercepted high-grade spodumene mineralisation with best drilling intercepts, including:

- Hole 09 - 38 metres @ 1.10% Li2O from 192 metres including, 23 metres @ 1.35% Li2O from 192 metres;

- Hole 11 - 46 metres @ 1.26% Li2O from 135 metres including, 24 metres @ 1.62% Li2O from 137 metres;

- Hole 12 - 47 metres @ 1.05% Li2O from 161 metres including, 27 m @ 1.31% Li2O from 167 metres;

- Hole 13 - 24 metres @ 1.25% Li2O from 184 metres;

- Hole 14 - 45 metres @ 1.08% Li2O from 148 metres including, 18 metres @ 1.34% Li2O from 171 metres;

- Hole 015 - 20 metres @ 1.32% Li2O from 242 metres;

- Hole 16 - 28 metres @ 1.20% Li2O from 158 metres including, 18 metres @ 1.39% Li2O from 162 metres; and

- Hole 17 - 45 metres @ 1.28% Li2O from 190 metres including, 23 metres @ 1.77% Li2O from 190 metres.

Six new drill holes have successfully tested the deep extensions of mineralisation at the main Authier pegmatite, and four holes the geometry of the Authier pegmatite at shallow levels in the eastern and central sectors in order to upgrade the resource categories from indicated to measured.

The Company believes the new drilling has the potential to expand the size of the existing JORC Resource, and the mineralisation remains open in all directions. The Company is pleased with the combination of thickness and high-grades of spodumene intersections reported from the drilling program. More drilling is planned for early 2017.

Phase 1 Diamond Drilling Program New Assay Summary

The Company has completed the phase 1 diamond drilling program at Authier including 18 holes for 3,967 metres with the objectives, including:

- Converting the inferred mineral resources to measured and indicated through further drilling;

- Exploring for extensions to the existing mineral resources and other potential mineralisation within the tenement package;

- Collecting geotechnical data for incorporation in the Authier Feasibility Studies; and

- Collecting drill core for any additional metallurgical testing that may be required to complete a Definitive Feasibility study, planned for 2017.

The final diamond drill holes (see Table 1 in the link below) have all intersected high-grade spodumene mineralisation, including:

- AL-16-008 (East zone) - 36 metres @ 0.93 % Li2O from 162 metres including, 10 metres @ 1.32 % Li2O from 163 metres;

- AL-16-009 (West zone) - 38 metres @ 1.10 % Li2O from 192 metres including, 23 metres @ 1.35 % Li2O from 192 metres;

- AL-16-011 (West zone) - 46 metres @ 1.26 % Li2O from 135 metres including, 24 metres @ 1.62 % Li2O from 137 metres;

- AL-16-012 (East zone) - 47 metres @ 1.05 % Li2O from 161 metres including, 27 metres @ 1.31 % Li2O from 167 metres;

- AL-16-013 (West zone deep) - 24 metres @ 1.25 % Li2O from 184 metres and 8 metres @ 0.91 % Li2O from 216 metres;

- AL-16-014 (East zone) - 45 metres @ 1.08 % Li2O from 148 metres including, 8 metres @ 1.36 % Li2O from 149 metres and 18 metres @ 1.34 % Li2O from 171 metres;

- AL-16-015 (West zone, 50 metres step-back of hole AL-16-013) - 20 metres @ 1.32 % Li2O from 242 metres including, 11 metres @ 1.61 % Li2O from 248 metres;

- AL-16-016 (Middle of Gap Zone) - 28 metres @ 1.20 % Li2O from 158 metres including, 18 metres @ 1.39 % Li2O from 162 metres;

- AL-16-017 (West Zone Deep) - 45 metres @ 1.28 % Li2O from 190 metres including, 23 metres @ 1.77 % Li2O from 190 metres; and

- AL-16-018 (West edge of Gap Zone) - 10 metres @ 1.20 % Li2O from 218 metres including, 6 metres @ 1.48 % Li2O from 219 metres and two upper intervals of 4 m @ 0.99 % Li2O from 197 metres and 7 m @ 0.95 % Li2O from 206 metres.

The lithium mineralisation at Authier project is related to multiple pulses of spodumene bearing quartz-feldspar pegmatite. Higher lithium grades are related with high concentrations of mid to coarse spodumene crystals (up to 4 cm long axis) in a mid to coarse grained pegmatite facies.

Overall Summary of the Drilling Program

The drilling program has successfully achieved the overall objective, including:

- Increasing the size of the potential resource and improving confidence in the JORC Mineral Resource categories;

- Gaining a deeper understanding of the upside resource potential;

- Demonstrating the potential for improving the grade of the overall resource; and

- Improving the knowledge of the geotechnical conditions for incorporation into the Pre-Feasibility Study.

The following points summarise the outcome of each of the holes drilled during the program:

- Holes 01, 02, 06 and 07 have successfully tested the geometry of the Authier pegmatite at shallow levels in the eastern and central sectors in order to upgrade the resource categories from indicated to measured;

- Hole 16 has intersected a thick zone of spodumene mineralisation in the gap zone, between eastern and western zones of main pegmatite. This area which was previously interpreted not to contain any mineralisation and will provide a meaningful increase in the JORC resource;

- Holes 03, 04, 05, 08, 10, 12 and 14 have extended the lithium mineralisation in the eastern sector of main Authier pegmatite beyond 200 metres of vertical depth;

- Hole 10 intercepted a new pegmatite at shallow levels between 15 to 22 metres downhole depth, not visible from surface, located 400 metres north of main Authier pegmatite. Such pegmatite returned high grade lithium mineralisation (see "High-grade Mineralisation in the New Pegmatite Discovered at Authier", 08 November 2016); and

- Holes 09, 11, 13, 15, 17 and 18 have extended the lithium mineralisation in the western sector of the main Authier pegmatite beyond 200 metres of vertical depth.

A new JORC Resource incorporating all the new assay results is being prepared and will be incorporated into the Pre-Feasibility Study which is underway. The mineralisation remains open in all directions. Follow up drilling is being planned for early 2017 with the objectives, including:

- Defining the mineralised boundaries and lifting the resource categories in the western sector that was not accessible during the summer months;

- Testing for mineralisation in the east and west strike extensions; and

- Assessing the resource potential of the new northern pegmatite. Any new mineralisation within the new pegmatite is likely to fall within the main Authier open-cut pit shell. Any new resources will significantly improve the waste to ore ratio in a future operation.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/1KZ2D7K1 

Chief Executive Officer
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au
↧

VIDEO: Minbos Resources Limited (ASX:MNB) Management Update on Cacata Phosphate Project

November 16, 2016, 3:30 pm
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Minbos Resources (ASX:MNB) - Management update: Minbos is developing the high grade (26% P2O5) Cacata rock phosphate project in Angola. We interviewed CEO, Lindsay Reed, for an update on the progress of their BFS, bulk sample test work results as well as the development of the Porto de Caio which Minbos plan to use to export phosphate concentrate.

Analyst Valuation: We maintain our belief that the market has overlooked the substantial underlying value at the Cacata project, as we determined an after tax valuation for 100% of the project of US$280m. We discounted our valuation by 50% as a number of our assumptions require confirmation (BFS). This however still results in a valuation of $0.033/share, which is a significant premium to the current share price ($0.006/share).

This information is intended to provide general financial product advice only. It has been prepared without having regarded to or taking into account any particular investor's objectives, financial situation and/or needs. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. Where applicable, investors should obtain independent financial advice from a qualified financial advisor before making any decision.

To view the video, please visit:
http://www.abnnewswire.net/press/en/85642/minbos 

TSI Capital Pty Ltd
M: +61 404 945 234
adam.kiley@tsicapital.com.au
www.thesophisticatedinvestor.com.au
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