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Alan Green covers AEX Gold #AEXG and Poolbeg Pharma #POLB on this week’s Stockbox Research Talks

Alan Green covers AEX Gold #AEXG and Poolbeg Pharma #POLB on this week’s Stockbox Research Talks

Cadence Minerals #KDNC – Project Updates, Corporate Update and Company Presentation and Q&A

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to provide a series of project updates, and details of a new presentation and Q&A session.

Amapa Project

On 29 December 2021, Cadence announced the execution of the binding settlement agreement with the secured bank creditors, which allows us to vest our 20% interest in the large-scale Amapa iron ore mine, beneficiation plant, railway and private port (“Amapa Project”, “Amapa”).

We are pleased to announce that the completion and filing of the required contractual and regulatory documentation is proceeding as planned and we currently expect to finalise this in the first two weeks of next month.

Cadence has already begun work on the next investment phase to earn an additional 7% of Amapa for US$3.5 million. These funds will be primarily used to progress the pre-feasibility studies on the asset.

The pre-feasibility study (“PFS”) is progressing as expected, with the consulting engineers for the mine operations, ore reserve estimation, metallurgy, processing and shipping identified and in the process of being appointed. The rail logistic study has been completed in draft form, and is being reviewed.

In addition, to supplement the technical team at the Amapa, Tony Cau has been appointed as the pre-feasibility project director. Tony is a Civil Engineer with 40 years of global experience in the metals processing and engineering industry. Tony has worked for internationally recognised consulting and operational firms, including SNC-Lavalin, Bateman Engineering, BHP Billiton and Ausenco.

Litchfield and Picasso Projects

On 29 September 2021, Cadence announced that Castillo Copper (ASX/LON: CCZ) (“Castillo”) had entered into a 90-day option agreement with Lithium Technologies Pty Ltd (“LT”) and Lithium Supplies Pty Ltd (“LS”) in which Cadence owns a 31% shareholding, to acquire the Litchfield and Picasso Lithium Projects in the Northern Territory (NT) and Western Australia (WA) respectively.

LT and LS have informed us that the board of CCZ and LT & LS have mutually agreed to unwind the Option Agreement. As part of the break agreement terms, the A$50,000 deposit has been returned to CCZ.

Cadence CEO, Kiran Morzaria, commented: “On behalf of the board, I am pleased to advise shareholders that the filing of the contractual and regulatory documentation pertaining to the Amapa bank settlement agreement is proceeding as planned. Work has already started on the next investment phase to take Cadence up to 27% ownership of Amapa.

“I would also like to take this opportunity to welcome Tony Cau to the Amapa Project. Tony’s experience will be invaluable to us as Amapa undergoes recommissioning, and he joins the asset at an exciting phase of its development.”

“In regard to the Litchfield and Picasso option with Castillo, given the recent increases in lithium compound pricing to over US$40,000 per tonne of battery grade lithium carbonate, and the pending analysis of the assay results, we see the unwinding of this option agreement as an opportunity for Cadence to extract a higher valuation for these prospective assets”

Presentation and Q&A Session

Further to the announcement on the 5 January 2020, the online presentation and Q&A session is available here.

In addition, an updated PowerPoint presentation is available on the Company’ website, https://www.cadenceminerals.com/

Share Incentive Vesting

On the 2 November 2020, the Company announced that, under the share incentive plan established in September 2014, it had conditionally granted up to 240,000 Ordinary Shares to each of the directors. These share awards were conditional on meeting performance conditions during the award period (“2021 SIP Awards”). 2021 SIP Awards would be transferred from the Employee Benefit Trust (“EBT”), with no New Ordinary Shares being issued to satisfy the 2021 SIP Awards.

The award period ran from November 2020 to December 2021 (“Award Period”). The 2021 SIP Awards were subject to the board achieving performance conditions which were in line with market practice. One of the conditions was met by the end of 2021 entitling each director to be awarded 80,000 shares from EBT. With this award two of the three performance conditions were met during the period and no further awards will be made in relation 2021 SIP Awards. Once the shares have been transferred from the EBT to the board the Company will make a Director / PDMR disclosure.

 

– Ends –

 

For further information:

Cadence Minerals plc

                                                   +44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

                                +44 (0) 207 220 1666

James Joyce

Darshan Patel

Novum Securities Limited (Joint Broker)

                                +44 (0) 207 399 9400

Jon Belliss

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

 

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding Cadence Minerals Plc’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements.

Technology Minerals – Recycling Blueprint for the EV and Battery Industry a Racing Certainty?

By Arjun Thakkar and Alan Green

Along with Christmas parties, the most oft discussed topic in 2021 was almost certainly the COP26 conference, net zero carbon neutrality, sustainability, climate change and other aspirational matters pointing to an internal combustion engine free world. There’s plenty of awareness of the issues surrounding climate change and the environment, but the simple facts are that the leading economies around the world (never mind the developing nations) are woefully underprepared to tackle these issues and create the circular economy required to support sustainability.

(more…)

Greenland – Right Opportunity, Right Time? Alan Green talks to AEX Gold #AEXG CEO Eldur Olafsson

Greenland – Right Opportunity, Right Time? Alan Green talks to AEX Gold #AEXG CEO Eldur Olafsson. This AIM and TSX-V listed company’s principal asset is its 100% interest owned Nalunaq Project, an advanced exploration stage property with an exploitation license that includes the previously operating Nalunaq gold mine. The district scale portfolio of gold assets covers over 4,090km2, making it the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. Read about the projects here

Greenland’s Mineral Assets – Right Opportunity and Right Time for AEX Gold

by Arjun Thakkar and Alan Green

Formerly perceived as a remote, inaccessible land mass in the North Atlantic, Greenland is fast developing into a highly desirable and fertile territory for mining companies due to an abundance of metals and minerals. As the ice from Arctic has begun to melt in Greenland due to global warming, energy resources and minerals like gold, iron, rare earth elements have become more accessible.

A progressive political administration has ensured that facilities and opportunities are made readily available to assist in the extraction of natural resources as a central part of Greenland’s plans to become self-sufficient. Detailed regulatory structures are all in place to safeguard the land and environment, and at the same time the Government has created an attractive investment climate to attract global mining giants such as Anglo American.

This pro-mining climate and active support from the Government has also attracted some of the smaller junior mining companies such as AEX Gold.

Greenland’s 2020-2024 Mineral Strategy attracts junior mining companies by making the process of granting applications and mining simpler through a simplified transition from exploration to exploitation with fewer requirements. Greenland has also showed support to the mining industry to diversify the economy by doubling budgets from 2020-2021.

In order to simplify the transition from exploration to exploitation, the government of Greenland has prepared standardised models to ensure fast and easy transition while ensuring all junior mining companies can independently assess the potential profitability of exploitation projects. Further benefits are available, provided that companies follow rules and regulations pertaining to environmental, social or other matters.

AEX Gold

AEX Gold, listed on the London AIM market and Canada’s TSX Venture market (AIM: AEXG, TSX-V: AEX) is a Greenland-focused mining company engaged in the identification, acquisition, exploration, and development of gold properties and other strategic mineral assets. The Company was founded in 2017 by CEO Eldur Olafsson, who previously worked for over 7 years on integrated mining projects in Greenland. Both he and AEX Gold have stated that Greenland represents an attractive ‘untouched’ location for mining companies due to the environmental and political awareness of the Government. Currently AEX Gold operates seven different projects in Greenland – Nalunaq, Vagar, Tartoq, Nanoq, Sava, Saqqaa and Norrearm projects as well as more than 4,000 km2 of exploration ground.

AEX Gold’s commitment towards responsible mining in Greenland has ensured it is eligible to receive benefits from the Government and current administration. The responsible mining charter AEX will adhere to includes use of local wind and hydro power to support the mine at its flagship Nalunaq project, and it will help reduce environmental footprint and any impact on wildlife. There are also social and governance factors that include a target to train and employ up to 50% of the workforce from the local population, the prioritization of Greenlandic law, practices and regulatory standards in all working practices – all this while maintaining continuing constructive dialogue with the government with EIA and SIA objectives.

AEX Gold has set out its intentions, incorporating responsible mining practice with its schedule of works on its corporate website as follows:

  • Leverage extensive existing infrastructure in the redevelopment of the past producing Nalunaq mine
  • Responsible mining, by bringing benefits to local communities where we operate and to Greenland as a whole
  • Managing safety risks by committing to abide by the highest Health and Safety standards
  • Exploring innovative technologies to operate in the most sustainable way

Projects

Nalunaq Project

AEX is leveraging first mover advantage to deliver shareholder value by redeveloping the past-producing Nalunaq mine and is generating significant upside from the Company’s portfolio of high-impact exploration assets in Southern Greenland. Having produced approximately 350 thousand ounces of gold between 2004 and 2013, Nalunaq has demonstrated a low-cost production potential from past operations. The mine operated until 2013, when it closed as a result of falling gold prices, financial difficulties and a lack of exploration. This led to the site being partially decommissioned in 2014 and the widespread view that the deposit was exhausted. AEX has challenged this view and intends to capitalise on the latest mining and processing methods in its plans to bring the historical mine back into production. The asset has significant pre-existing infrastructure and development left in place by the previous operators, and has access to services like waste incinerator, critical fleet, ambulances, roads and bridges, and a 50 person all weather camp. In February 2021, Halyard Inc. were commissioned to undertake a 3rd party engineering study, focussed on the costs of the main components of the Nalunaq Development. Halyard looked at the cost overrun announced in February 2021, and importantly confirmed that the process design philosophy met the necessary criteria for processing the Nalunaq ore body.

Vagar Project

In a 2019 interview with High North News, AEX CEO Eldur Olafsson stated that he believed there were more gold deposits in the Vagar area in Greenland than previously expected, and that the gold is not only found in connection with quartz, but also in the bedrock itself. Historical data and discoveries confirm that gold deposits in southern Greenland hold high levels of purity. Also in 2019, AEX confirmed that gold had been recorded within the host granodiorite, with grades up to 12.1 g/t Au at Femøren and 14.4 g/t Au at Øresund.

Tartoq Project

AEX’s 100% owned Tartoq project covers the entire Tartoq Gold Belt and all known gold occurrences, for a total of 248 km2. Locally high-grade orogenic gold mineralisation is hosted in a classic Archean greenstone belt setting. Apart from gold, up to 14% Pb, 1,210 g/t Ag and 0.7% Cu have also been identified in semi-massive sulphide lenses.

Nanoq Project

Nuna Nutaaq, licence 2019/113, which host the Nanoq Project comprises of 5 sub areas within the Nanortalik Gold Belt and covers all major gold showings and prospective areas identified by AEX’s regional machine learning study. These targets were previously investigated by Crew Gold, NunaMinerals and Goldcorp. Nanoq itself is believed to be a folded and duplicated gold bearing quartz vein and shear sampled at surface (with channel and grab samples returning up to 175g/t Au and 3.83% Cu) over at least 800m and being open in both strike and depth.

Sava Project

Sava is a large licence targeting IOCG (Iron Ore, Copper Gold) style mineralisation similar in style to the massive deposit of Olympic Dam in southern Australia. This project which is only 30km from the international airport at Narsarsaq, has returned histrocal grades of 3.4% copper, 3.7% zinc, 0.28% molybdenum as well as gold, silver and niobium.

Saqqaa Project

Saqqaa is a Platinum Group Metals (PGMs), Gold and Nickel-Copper bearing dyke systems overlooking the Nalunaq mine. Pervious samples have given up to 10g/t palladium, 6% copper and 1g/t gold.

Nørrearm Project

Nørrearm is one of multiple graphite occurrences within AEX’s licences and exists as a 5m thick graphite and sulphide rich later over 2000m in strike with samples returning 10-14% total graphitic carbon content. This , and other graphite occurrences AEX controls hold many similarities to the Amitsoq deposit run by GreenRoc Mining in southern Greenland.

Exploration Licences

On top of these describes project sites, AEX hold a large land portfolio hosting numerous targets that are being developed into the next projects, these licence areas include:

Anoritooq licence

Anoritooq is divided into two sub-areas: the main zone lies between AEX’s Saarloq and Vagar exploration licenses and covers parts of the Niaqornaarsuk, Akuliaruseq and Nanortalik peninsulas to the northeast of Nanortalik, and a second sub-area on the southeast coast of Greenland that follows the inner parts of Kangerluluk and Igutsaat Fjord. The most advanced gold exploration target in this licence is known as Lake 410, located on the southern end of the Nanortalik Peninsula.

Sarlooq licence

The Saarloq Licence 2020/31 covers an area of 818 km2 and is predominantly underlain by granitoid rocks of the Julianehåb Batholith, with several enclaves of metavolcanic and appinitic rocks. The principal feature of interest is the large, crustal-scale Saarloq Shear Zone that runs through the licence in a north-easterly direction. The shear zone and its subsidiary features represent prospective settings for structurally controlled gold mineralisation, especially in areas where brittle deformation has occurred. Qaqortoq is the closest major town to the Saarloq licence area and forms a good staging post for exploration work.

Kobbermineburgt licence

A new licence area acquired in 2021 that hosts the former producing Josva copper mine and numerous disseminated and strata bound copper sulphide targets

Investment Potential

Despite the impact of a travel ban and Nalunaq project cost increases at the start of 2021, the AEX share price has steadily recovered over the past 4 months, rising from 25p to 35.21p. The exploration team arrived back on site at Nalunaq in June 2021, and with 51 drill holes completed by the end of the year, CEO Eldur Olafsson cited “encouraging early signs from the drilling and the clarity from Halyard” as factors all pushing Nalunaq towards pre-feasibility level study stage, “providing an optimal plan for the project”.

So with extensive local government backing and favourable environmental conditions, Nalunaq looks poised to deliver considerable additional potential, and with six other major minerals projects under development, AEX Gold appears to have timed its Greenland market entry to perfection.

A board and management team with diverse backgrounds all delivering on commitments to stakeholders makes for a solid investment case, and with clear progress at the flagship Nalunaq project, together with sustainable mining practices and an empowered local community, AEX Gold looks to have timed its entry perfectly. Time perhaps for investors to do the same and take full advantage of this steady growth in asset value reflected in a steady, rising share price.

Power Metal Resources #POW – First Development Resources – Wallal Project Exploration Update

Ground Reconnaissance Commences at the Wallal Project in the Paterson Province, Western Australia in Preparation for Phase I Diamond Core Drilling Programme

Power Metal Resources plc (LON:POW),  the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, provides an update to shareholders in respect of its interests in the Paterson Province of Western Australia (the “Paterson Interests”) held through First Development Resources Limited (“FDR”).

This update relates specifically to the Wallal Project (“Wallal” or the “Project”), one of three Paterson region projects held by FDR and includes the Wallal Tenements (E45/5816, E45/5853 and E45/5880) (the “Tenements”).

Highlights

· A reconnaissance team has arrived on site at the Wallal Project to survey and map all existing access tracks and proposed drill hole locations for a planned Phase I diamond core drilling programme targeting gold-copper mineralisation.

· The reconnaissance work will inform the extent of the Heritage Clearance Survey which will be completed under the supervision of the Yamatji Marlpa Aboriginal Corporation (“YMAC”) if required by YMAC and the Nyangumarta people, prior to drill programme mobilisation.

· FDR has appointed Ian Shackleton of Perth, WA, based Resource Potentials Pty Ltd (“Resource Potentials”) as Exploration Manager and have opened dialogue with the Department of Mines, Industry Regulation and Safety ahead of the Company’s proposed Phase I diamond core drilling programme.

· Preparations for the FDR initial public offering (“IPO”) listing process planned for Q2 2022 are progressing well, including finalising the board and advisory team composition.

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:

“The First Development Resources opportunity is attracting considerable interest from prospective investors and we hope this early stage field reconnaissance will create more interest in what we believe is a very exciting opportunity.  We intend to publish updates on progress and shareholders are encouraged to monitor the Company’s gallery section on our website where Project images and videos will be uploaded in the coming days.

The prospectivity of the Paterson Province has been heightened recently following Greatland Gold’s Gold-Copper Havieron discovery and we believe the team we have assembled and the work which has been completed to date at Wallal has demonstrated the exploration potential of the area.

I would like to welcome Tristan Pottas the newly appointed FDR Chief Executive Officer.  Tristan joined in November 2021 and has been working proactively on the multiple work streams to build relationships in Australia, advance exploration work and further the FDR listing process.”

Tristan Pottas Chief Executive Officer of First Development Resources Ltd commented:

“The initiation of reconnaissance work at FDR’s flagship Wallal Project is the first step on our journey to testing the multiple intriguing bullseye shaped geophysical anomalies identified during the desktop analysis.

Over the past few months, we have been working with our various consultants and in country partners to extract the maximum amount of information from the data available to inform the optimum locations for our Phase I diamond core drilling programme targeting gold-copper mineralisation. 

To this end, we have established a working relationship with the traditional owners and we look forward to working with them as the exploration programme progresses.”

PATERSON INTERESTS – OWNERSHIP STRUCTURE

The Paterson Interests are held by First Development Resources Limited which holds a 100% interest in local Australian operating company First Development Resources Pty Limited (“FDR Australia”). FDR Australia’s licence interests are outlined below.

Power Metal has a current effective interest of 96.15% in FDR and an effective interest of 83.33% after the grant of three licences owned by URE Metals Pty Limited (“URE”) which was acquired outright by FDR in an all-share purchase announced on 19 November 2021.  Further details of the acquisition of URE and its uranium and rare earths interests may be viewed in the Company’s announcement:

https://www.londonstockexchange.com/news-article/POW/uranium-rare-earths-acquisition-australia/15219001

PATERSON PROVINCE – EXPLORATION RATIONALE

The Paterson Province is host to major gold-copper deposits including Winu (Rio Tinto) and Havieron (Newcrest Mining – Greatland Gold JV).

To date, FDR has undertaken in-depth desktop analyses with the aim of comparing the geological and geophysical features of both Winu and Havieron to those found within the Wallal Project.

The exploration hypothesis is that if FDR is able to identify geological and geophysical similarities of areas within the Wallal Project to established large-scale deposits elsewhere in the Paterson region, it would increase the chance of a discovery and justify more detailed exploration.

A comprehensive desktop study commissioned by FDR over the Wallal Project is nearing completion and has identified three prospective magnetic bullseye targets. These include the Western, Eastern and Border anomalies which, based on geophysical interpretation, have estimated dimensions of 5km x 5km, 2.5km x 2.5km and 1km x 1km respectively.

Further analysis has determined that the Eastern and Border anomalies are located at depths similar to Greatland Gold’s Havieron discovery. Greatland Gold’s Havieron was discovered by blind drilling a magnetic bullseye anomaly through circa. 420m of post-mineral sedimentary cover.

The latest exploration update focused on the Wallal Project and released by the Company on 13 September 2021 may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/fdr-australia-paterson-region-exploration-update/15132674

WALLAL RECONNAISSANCE

FDR’s reconnaissance team have arrived in the Paterson and will spend a week mapping and completing a condition survey of all existing access tracks linking the Wallal Tenements with the Great Northern Highway. The team also plan to visit the planned Phase I diamond core drill hole locations to assess the logistics of getting the drilling rig to the sites using existing access tracks.

The drill hole location assessment will inform and constrain the extents of the Heritage Clearance Survey request which we hope to initiate in the coming weeks. All reconnaissance will be completed in accordance with the terms of the Heritage Agreement in place with the YMAC as agent for the Nyangumarta Warrarn Aboriginal Corporation RNTBC (“NWAC”).

Ahead of deployment of the reconnaissance team, notification was submitted to YMAC who are acting as an agent for the traditional owners of the Wallal Tenements, NWAC.

YMAC have agreed to allow these low-impact preparatory exploration works to go ahead prior to completion of the Heritage Clearance Survey.

Phase I diamond core drilling programme

FDR in conjunction with Perth, WA, based consultancy, Resource Potentials Pty Ltd, are nearing completion of an in-depth desktop analysis of all available data relating to the Wallal Tenements. The desktop study has focussed on providing clarity as to the scale, geometry and depth of the three magnetic “bullseye” anomalies identified within the Wallal tenement area.

The study has included the analysis of open-file government airborne magnetic geophysical datasets along with the reprocessing of historical seismic and ground-gravity data. The reprocessing of the legacy seismic data was completed by Velsis Integrated Seismic Technologies Pty Ltd and has been supplemented by FDR Australia’s own passive seismic survey which was completed by Atlas Geophysics Pty Ltd.

The passive seismic survey was completed to provide important information relating to the depth of post-mineral sedimentary cover and critical information relating to the precise depth to bedrock over the Eastern and Border “bullseye” anomalies which will be the focus of the Company’s phase I diamond core drilling programme. FDR expects to receive the final findings of the survey in the coming weeks.

Based on the work completed to date, FDR strongly believe that there is sufficient exploration data to support further exploration including a Phase I diamond core drilling programme.

In preparation for the Phase I diamond core drilling programme the Company has been liaising with all stakeholders including the traditional owners and exploration partners.

In accordance with section 47(1) of the Western Australian Mines Safety and Inspection Act 1994, Ian Shackleton of Resource Potentials has been appointed as the Company’s registered exploration manager, in addition, Resource Potentials has been granted authority to lodge operational reports, Programme of Works applications and act regarding any other Project Management and mining related compliance matters with the Department of Mines, Industry Regulation and Safety (“DMIRS”), Western Australia.

Following completion of the reconnaissance work announced today, Resource Potentials, on FDR’s behalf, will be applying for a Programme of Works from DMIRS specific to the Phase I diamond core drilling programme and a Heritage Clearance Survey Request will be issued to YMAC. FDR are targeting commencement of drilling activities during H1 2022.

CORPORATE DEVELOPMENT

FDR is seeking a listing on the London capital markets.  Preparatory steps are being taken for the listing, which is targeting Q2 2022, including the recruitment of a suitable board, senior management team and suite of advisors to assist with the listing process. 

Specifically in respect of the board, Tristan Pottas has been appointed as Chief Executive Officer of FDR and Craig Moulton as Non-executive Director. 

PATERSON PROJECTS – BACKGROUND

FDR Australia holds the following exploration licence interests:

Wallal Project  (Wallal Main-E45/5816 –  390km 2  – granted), (Wallal West 1-E45/5853 96km 2  – granted) and (Wallal West 2 – E45/5880 86km 2  – granted).

Braeside West Project  (E45/5854 –  137km 2  – one granted licence)

In-depth desktop analysis of historic exploration data is currently underway on the Braeside West Project. A recent base-metal discovery by neighbouring company Rumble Resources has enhanced the overall prospectively within the Braeside West Project area as it is hosted within a similar geological environment to that of Rumble Resources discovery.

Ripon Hills Project  (E45/5088 –  42km 2  – one granted licence).

The Ripon Hills Project is prospective for base-metal and gold mineralisation associated with deep-seated north-south oriented fault structures which run through the Ripon Hills Project area. In-depth desktop analysis of historic exploration data is currently underway over the project.

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

Project

Location

POW %

Work Completed or Underway

Results Awaited

Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Laboratory assay results of samples collected

Ditau Project

Botswana

50%

Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals

 

Field programme findings and defined drill targets for near term drilling.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling

Molopo Farms

Botswana

53%1

Kavango Option to acquire an interest in local project holding company.  Option fee payable through defined work programme

Results from various work activities underway as part of the Kavango Option

Tati Gold/Nickel

Botswana

100%

Reverse circulation drill programme completed

Laboratory assay results awaited

Victoria Goldfields

Australia

49.9%

Ongoing exploration across 848km2 of granted exploration licences

 

Results from field programme including drill programme underway

Wallal Gold/Copper Project

Australia

83.33%2

Passive seismic and 2D seismic processing work programme completed

Results awaited

1 should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project

2   assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company’s announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors

Technology Minerals #TM1 and Recyclus Group open UK laboratory

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce it has opened its first laboratory suite at its new battery processing facility in Wolverhampton, UK.  

The new laboratory enables Recyclus Group, a 49% Technology Minerals owned company, to carry out its own in-house testing for both lead acid and lithium-ion (“Li-ion”) battery recycling processes.  

The testing facility comprises specialised equipment including an X-ray fluorescence machine (“XRF”) used for measuring the elemental composition of the various battery products. This technology is especially important for examining the lead content of the lead oxide paste and the levels of sulphur which, in turn, ensures the quality of the end product.

The laboratory also houses a Gas Chromatograph with an auto sampler which – when used in conjunction with wet chemical analysis – is crucial in establishing lithium levels and monitoring the in-process products to avoid any potential contamination. The facility has fire-safe, lockable cabinets for housing all the essential analytical chemicals used in the close monitoring of both the lead and lithium recycling processes. 

Robin Brundle, Chairman of Technology Minerals, said: “The opening of a new specialised laboratory at our battery processing facility in Wolverhampton is in line with our strategy and development programme for commissioning the first of our lithium-ion plants. It is another step towards our goal to significantly increase our recycling capacity in 2022 for lead-acid and lithium-ion batteries and ultimately help enhance the UK’s capabilities for battery recycling.”

Enquiries

 

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

 

Alfred Henry Corporate Finance Limited

Nick Michaels

+44 203 772 0021

Arden Partners Plc

Ruari McGirr

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

Technology Minerals Plc 

Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. TM is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the Group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk  

Recyclus Group Ltd  

The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group Limited provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com  

Power Metal Resources #POW – Haneti Project – Drill Programme Commencement

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that mobilisation has successfully commenced for the Company’s inaugural diamond drilling programme on the Haneti Project (“Haneti” or the “Project”) located in central Tanzania. 

The Haneti Project is currently held under a Joint Venture (“JV”) with Katoro Gold Plc (LON:KAT “Katoro”) who hold a 65% interest, with the remaining 35% interest held by Power Metal.

A map highlighting the planned locations for the 2022 diamond drilling programme can be found at the following link:

https://www.powermetalresources.com/haneti-project-drill-programme/

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

“The Haneti Project, targeting magmatic sulphide hosted nickel, copper and platinum group metals, represents a unique district-scale opportunity for Power Metal and our JV partner Katoro .

The preparatory work leading up to this campaign has been extensive, though ultimately, it is deep diamond drilling that is now needed in order to broaden our understanding of the geological environments and to unlock the potential for a commercial discovery.

With some considerable enthusiasm we launch the programme and very much look forward to updates  from the field, and ultimately the results of the assay testing of drill core samples which will be collected during the 2022 campaign.

HIGHLIGHTS:

–      Mobilisation by the drilling contractor has commenced with the drilling rig expected to be on site around 17 January 2022, and drilling expected to commence on or around 20 January 2022. 

–      The planned 1,000m drill programme consists of three deep diamond core targeting magmatic nickel (Ni) copper (Cu) platinum group element (PGE) sulphide mineralisation.  The work will constitute the first diamond drilling conducted out by the JV within the Haneti Project area.

–      In advance of the drilling programme the Haneti Project licences have successfully been renewed for an additional 7 years.

–      The planned drillholes are designed to provide a full intersection through the various ultramafic sequences in order to produce fresh rock samples for detailed geochemical and petrographic analysis.

–      Two diamond core holes are planned at the Mwaka Target for a combined total of approximately 505m. The holes have current planned depths of 264m and 241m and are designed to test two discrete high-priority conductors which were identified during the 2012 electromagnetic (“EM”) geophysics survey.

–      A single 495m deep diamond core drill hole is planned at the Mihanza Target. The Mihanza target was subject to a shallow Rotary Air Blast (“RAB”) drill programme that was completed in early 2021; the programme confirmed the presence of near-surface Ni-Cu-PGE sulphide mineralisation. The Mihanza Target is centred around coincident magnetic high geophysical and nickel geochemical anomalies. Detailed modelling and inversion analysis of the airborne magnetic data completed in 2014 identified a large plug shaped magnetic anomaly (following work undertaken by consultants to former project owner Kibo Mining plc this was interpreted to represent an ultramafic body) which lies at roughly 300m below surface. This plug shaped body has never been drill tested, and the drill hole planned at Mihanza is specifically designed to intersect the anomaly at depth.

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

 

NOTES TO EDITORS

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

Project

Location

POW %

Work Completed or Underway

Results Awaited

Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Laboratory assay results of samples collected

Ditau Project

Botswana

50%

Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals

 

Field programme findings and defined drill targets for near term drilling.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling

Molopo Farms

Botswana

53%1

Kavango Option to acquire an interest in local project holding company.  Option fee payable through defined work programme

Results from various work activities underway as part of the Kavango Option

Tati Gold/Nickel

Botswana

100%

Reverse circulation drill programme completed

Laboratory assay results awaited

Victoria Goldfields

Australia

49.9%

Ongoing exploration across 848km2 of granted exploration licences

 

Results from field programme including drill programme underway

Wallal Gold/Copper Project

Australia

83.33%2

Passive seismic and 2D seismic processing work programme completed

Results awaited

1 should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project

2 assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company’s announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors

ECR Minerals #ECR – Creswick Exploration Licence Renewal Application EL006184

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce that it has submitted an application to renew current exploration license EL006184 for an extended five-year term.

EL006184 covers land owned by one of ECR Minerals plc 100% owned Creswick projects and is operated by its subsidiary company Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: “We are pleased to report that ECR has completed the application to renew Creswick exploration license EL006184 for an extended five-year term. Together with our recently approved licence EL006907 covering the Ballarat East Nerrina Goldfield, this area provides access to the Dimocks Main Shale strike zone, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.”

“I look forward to providing further updates once our drill team and equipment return to Creswick”

SUMMARY:

  • Initial tenure of EL006184 expired on the 28th December 2021. The application renewal for the tenement for a further five-year term has been submitted.
  • MGA has first right in securing and applying to renew the ground covered by EL006184.

EL006184 has been a pivotal part of MGA’s exploration strategy and activities during 2021. Work undertaken includes the first ever diamond drill program conducted within the area, in addition to which MGA owns land and property at 35 Brewing Lane, Springmount sited within the tenement area. Exploration is scheduled to continue within MGA’s Creswick tenement area and will include further work along the Dimock Main Shale strike zone which is central to EL006184.

The renewal of EL006184 also complements recently approved licence EL006907 sited south and along strike of the mineralised belt towards Ballarat, Victoria, which the directors believe hosts the source veining for much of the alluvial gold within the Creswick deep lead alluvial system. Once the renewal is granted, the Company expects to return to recommence work at Creswick and within the new license area after completion of current operations at Bailieston, Victoria.

Further updates will be provided when the application has been processed.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Blytheweigh Tel: +44 (0) 207 138 3204
Public Relations
Tim Blythe

 

 

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

 

https://mercatorgold.com.au/

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.

 

https://luxexploration.com/

 

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

 

ECR holds a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

Alan Green covers Petroteq #PQE and Ananda Developments #ANA on this week’s Stockbox Research Talks

Alan Green covers Petroteq #PQE and Ananda Developments #ANA on this week’s Stockbox Research Talks.

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