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#BRES Blencowe Resources PLC – Investor Presentation and CEO Interviews
Blencowe Resources Plc (LSE: BRES), the graphite development company focused on the Orom-Cross Graphite Project in Uganda, is pleased to provide shareholders with links to a number of recent investor communications, including an updated corporate presentation, a live investor Q&A hosted by SmallCapPix and a CEO interview with FocusIR.
The materials provide further detail on the Company’s recent operational progress, enlarged resource base, updated DFS economics, downstream beneficiation strategy, and the opportunity emerging for secure, scalable non-China graphite supply.
Updated Corporate Presentation
The Company’s updated corporate presentation covers recent project milestones, updated DFS economics and Blencowe’s strategy to move into higher-value downstream graphite products.
The presentation is available to view here:
https://blencoweresourcesplc.com/wp-content/uploads/2026/07/Blencowe-Presentation-July-2026.pdf
SmallCapPix X Spaces Interview and Investor Q&A
The recording covers the 168% JORC Resource increase, DFS re-optimisation, downstream beneficiation progress, offtake strategy and Phase 1 funding pathway.
The recording is available here:
https://youtu.be/9VIR_Ubs9xM?is=5ZdjCvQHAyGphmM3
FocusIR Interview
CEO Mike Ralston discusses global graphite market dynamics and the growing opportunity for new producers outside China to supply Western markets. The interview is available here:
https://media.focusir.com/blencoweresources
Commenting on the publication of these materials, CEO Mike Ralston said:
“There has been considerable progress across Blencowe in recent months, and we believe it is important that shareholders and prospective investors have easy access to the latest materials explaining where the Company is now positioned and where we are heading. The updated presentation, interviews and investor Q&A bring together the recent resource growth, DFS re-optimisation, downstream strategy and funding pathway for Orom-Cross.”
Blencowe encourages shareholders and prospective investors to view these materials for further insight into the Company’s strategy, recent progress and the rapidly evolving global graphite market.
Company Newsletter
Investors and stakeholders can register for the Company’s newsletter to receive future news, video updates and event invitations directly:
For further information please contact:
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441 |
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Tavira Financial (Joint Broker):
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker):
Calvin Man / Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Cavendish (Joint Broker):
Neil McDonald / Peter Lynch / Hanna Leijonmarck |
Tel: +44 (0) 20 7908 6000 |
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#BRES Blencowe Resources PLC – Beehive Delivers 2 Standout +90 metre Intercepts
Blencowe Resources Plc (LSE: BRES) is pleased to report the remaining two deep-hole assay results from the newly discovered Beehive deposit, located approximately 3kms from the existing Northern Syncline and Camp Lode deposits at the Orom-Cross graphite project in Uganda.
Beehive is an extensive new graphite discovery made during the Company’s broader Stage 7 drilling programme in 2025, with exploration there comprising three deep holes to depths below 100 metres to test continuity and 108 shallow holes designed to test graphite mineralisation from surface to 30 metres, which is considered most attractive for low cost-effective mining.
Following the exceptional results previously reported from deep Hole L238B (returning 92.55m @ 6.83% TGC), the Company now reports further excellent drilling results from Beehive deep holes L237B and L239B. These results continue to highlight Beehive as a thick, continuous graphite system and reinforces its potential to deliver meaningful higher-grade early production tonnes within the broader Orom-Cross mining strategy.
Together with recent results from the Iyan Deposit and the existing Northern Syncline and Camp Lode resources, these Beehive results further support Orom-Cross as a graphite system of sufficient scale to underpin long-life and multi-decade production; a key consideration for strategic and institutional funding groups.
In addition to the three Beehive deep holes the programme included 108 shallow holes at Beehive and 72 shallow holes at Iyan. Assay results from these remaining holes are expected near term, providing a clear pipeline of ongoing newsflow as the Company progresses funding discussions in parallel.
Beehive Deposit – Key Drill Results
Figure 1: Beehive Deposit deep-hole drill sections showing thick, continuous graphite mineralisation remaining open at depth.
Hole L237B:
93.98m (TW) @ 6.03% TGC, comprising three stacked mineralised intervals from near surface to 118.22m, including:
· 22.61m (TW) @ 10.10% TGC,
o including internal high-grade interval of 3.00m @ 14.64% TGC,
o including 1.46m @ 14.3% TGC, and
o including 1.00m @ 12.72% TGC
· 14.17m (TW) @ 5.42% TGC from surface,
o including grades up to ~9.4% TGC
· 57.20m (TW) @ 4.58% TGC,
o including 2.08m @ 12.75% TGC
Hole L239B:
95.45m (TW) @ 5.62% TGC, comprising two stacked mineralised intervals from 2.73m to end of hole at 120.20m, including:
· 81.00m (TW) @ 5.82% TGC,
o including 0.67m @ 18.90% TGC,
o including 1.00m @ 11.98% TGC,
o including 1.00m @ 11.96% TGC, and
o including 4.00m @ 9.95% TGC
· 14.45m (TW) @ 4.49% TGC,
o including 0.69m @ 15.46% TGC
These latest two holes reported are in addition to Hole L238B which was announced in December 2025, with 92.55 metres (TW) @ 6.83% TGC, including 15.89 metres @ 9.42% TGC and 8.38 metres @ 10.95%.
Geological Interpretation
The two newly reported deep holes were drilled to test whether the Beehive graphite system continues beyond the previously reported Hole L238B.
· Hole L237B confirms that thick, high-grade graphite continues along the Beehive structure.
· Hole L239B confirms that graphite continues to depth, with mineralisation still present at the end of the hole.
· All three deep holes intersect graphite from near surface and remain open at depth, which highlights the strength and continuity of the system.
This combination of thickness, continuity and mineralisation remaining open at depth is characteristic of large, long-life graphite systems rather than short-lived or isolated deposits.
Across all three deep holes, Beehive has now delivered consistent mineralised thicknesses of around 90-95 metres, with multiple high-grade zones occurring within each hole. This consistency supports Beehive being interpreted as a large, continuous graphite deposit, rather than isolated high-grade pockets.
Size, scale and continuity are important factors for strategic and institutional funding groups, which typically focus on projects capable of supporting long-life, multi-decade production. Blencowe has existing licenses to explore a mineralised area at Orom-Cross over 20 kilometres in length yet all drilling completed to date sit only within the (ML 1959) Mining License zone which is just a small part of the overall deposit and licensed area.
Figure 2: Orom-Cross graphite project showing ML1959 as a part of the overall licensed area.
Blencowe now awaits assay results from the remaining 108 shallow holes drilled at Beehive, which are expected to define significant near-surface tonnage and further demonstrate the overall scale of this new discovery. Beehive sits within the Company’s existing 21-year Mining Licence (ML1959) granted in 2019, adding to its development and permitting strength.
Executive Chairman Cameron Pearce commented: “Beehive continues to deliver standout deep-hole drill results, further demonstrating the scale, continuity and quality of this deposit. The presence of thicker, higher-grade zones reinforces its potential to add meaningful tonnes and support multi-decade production potential, particularly if these results are replicated across the 108 remaining shallow Beehive holes currently being assayed. This is in addition to results expected for another 72 step-out and exploratory holes from Iyan.
Demand for graphite continues to grow, especially for higher quality end-products such as those delivered from Orom-Cross. The Company believes this project has the potential to rank among the larger, lower-cost graphite developments globally, supported by a completed DFS, advanced project readiness, fully completed metallurgical pre-qualification and offtake arrangements in place for all of Phase 1 Production.
With a large volume of drill results still pending from the ongoing programme, we see a clear pathway to continued scale growth and we anticipate a steady flow of further updates as we progress into 2026 while advancing funding discussions in parallel.”
For further information please contact:
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Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 |
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441 |
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Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits.
#ECR ECR Minerals PLC – 2025 Operational Highlights
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to provide a year-end operational update on recent achievements across its Queensland portfolio, together with the key milestones that the Company aims to deliver in early 2026.
2025 Operational Highlights
Blue Mountain – Strong Alluvial Results & Visible Gold
ECR delivered some of its strongest alluvial drilling results to date, including visible coarse gold at Upper Kariboe Creek, high-grade intersections up to 6.52 grammes/bank cubic metre (g/bcm), and wash-plant trials at Lower Patterson, averaging 0.35 g/bcm under real-world conditions. Multiple unmined creek flats are now identified as potential start-up production zones.
Lolworth – Maiden Drilling Confirms Gold-Silver System
The maiden drilling programme returned multiple shallow gold and silver intercepts, including 2m @ 3.57 grammes/tonne (g/t) Gold and 4m @ 7.18 g/t Silver, indicating a broader mineralised system with strong upside and several follow-up drill targets now defined. Silver mineralisation has now been mapped well beyond the areas drilled.
Raglan – Acquisition Pending Completion & Production Pathway Secured
ECR has entered into a legally binding contract for the acquisition of the fully permitted Raglan alluvial gold project, securing a mining lease, 60-tonnes per hour wash plant, camp and mobile fleet. Following completion of the acquisition, Raglan is expected to enter production ahead of Blue Mountain and strengthen the Company’s broader Queensland production strategy. Completion of the acquisition remains expected to take place before the end of 2025.
As part of preparations for its next phase of growth, ECR has also launched a refreshed and updated website, reflecting the Company’s progression from a pure explorer towards gold production.
Expected 2026 Operational Milestones
ECR enters the new year with a focused and deliverable plan:
- Raglan: Commencement of first alluvial gold production, following completion of acquisition, site preparation and mobilisation of personnel.
- Blue Mountain: Progression towards early-stage production, building on visible gold, expanding mineable corridors and further wash-plant trials.
- Operational integration between Raglan and Blue Mountain, seeking to establish a scalable, repeatable alluvial production model.
- Lolworth: Ongoing exploration for gold, silver and REE targets.
- Progression of the proposed Creswick JV discussions with Bold Gold.
- Strategic use of the aggregate A$76m of ECR and Raglan tax losses, expected to materially enhance early-stage future profitability for Raglan and Blue Mountain.
ECR Chairman Nick Tulloch commented: “2025 has been a pivotal year for ECR. Across the portfolio we have delivered meaningful progress: Blue Mountain continues to outperform expectations with visible coarse gold and expanding mineable areas; Lolworth has confirmed itself as a multi-metal system with gold, silver and rare earth potential; and the forthcoming completion of our Raglan acquisition gives us a fully permitted, turnkey alluvial gold operation ready to move towards production. Together, we consider that these milestones place ECR in its strongest operational position in recent years.
“We believe that the year ahead will see ECR evolve from a pure explorer into a company with nearer-term production and cashflow potential, supported by two complementary alluvial projects and substantial tax losses that enhance early economics. We enter 2026 with alignment, momentum and a clear plan to deliver a step-change year for the business.
“On behalf of the Board, I would like to wish all our shareholders, partners and stakeholders a safe and happy Christmas. We greatly appreciate your continued support and look forward to a transformational year ahead for ECR Minerals.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Adam Jones, Chief Geologist at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ECR Minerals Plc |
Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
info@ecrminerals.com |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
Tel: +44 (0) 3328 5656 |
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Nominated Adviser and Joint Broker |
info@allenbycapital.com |
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Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) |
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Kelly Gardiner (Sales and Corporate Broking) |
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Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson |
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Brand Communications |
Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company operating through two wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”) and ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”).
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Queensland has two approved exploration permits over the Blue Mountain alluvial gold project in central Queensland, Australia, which it is currently working to bring into production. It also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, ECR Queensland has also submitted a licence application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
#FDR First Development Resources PLC – Selta Project – REE Exploration Update
First Development Resources plc (AIM: FDR) the UK based, Australia focused exploration company with mineral interests in Western Australia and the Northern Territory, is pleased to provide an update in respect of the rare-earth element (“REE”) exploration strategy at its Selta Project (“Selta” or the “Project”) located in the Aileron Province of Australia’s Northern Territory.
HIGHLIGHTS
· First-pass rare-earth element exploration at the Selta Project will begin in early December 2025, focusing on stream-sediment sampling and reconnaissance mapping.
· Two priority REE target areas-Ingallan and West Nintabrinna-have been defined following detailed desktop studies, with both areas showing elevated historical Total REE results.
· The planned field programme aims to validate historical geochemical anomalies and generate new targets for potential follow-up mapping, sampling, and investigation of ionic clay potential at Ingallan.
Tristan Pottas, Chief Executive Officer of FDR, commented:
“Last month we stated our intention to fast-track REE exploration at Selta. The decision to accelerate this work was in response to a shift in geo-political policy to secure the supply and processing of Critical Minerals and REEs. I am pleased to report that a team will be on the ground at Selta in early December to conduct this important first phase of targeted REE exploration.
Exploration will include stream sediment sampling and reconnaissance mapping. The primary objective of which is to advance our understanding of elevated surface geochemical responses associated with the underlying lithological and structural features, and to identify potential zones of mineralisation for follow-up exploration.”
SELTA RARE EARTH TARGETS
Following the completion of multiple phases of in-depth desktop review, two REE target areas have been defined at Selta. The target areas are named Ingallan and West Nintabrinna, their locations, alongside other target areas on the Selta Project, are shown in Figure 1.
Notes: LCT-PEG = lithium, caesium, and tantalum (LCT) pegmatite (PEG)
Figure 1: Selta Project Data Review Targets
PLANNED FIELD EXPLORATION PROGRAMME – DECEMBER 2025
The field exploration programme which is expected to last one week is intended to validate and replicate, on an increased density, historical geochemical data which indicated elevated total rare-earth elements (“TREE”) associated with the underlying geology across the Ingallan and West Nintabrinna target areas. Samples collected on this fieldwork will be processed and analysed in January 2026; the results will inform future exploration on the property. Such exploration may include detailed mapping and sampling on both Ingallan and West Nintabrinna. On the latter, the Company is also planning test auger sampling to determine the area’s Ionic Clay potential.
INGALLAN STREAM SEDIMENT SAMPLING
The Ingallan area has received minimal exploration and is mapped as a gneissic granite. The target is largely based on and around this mapped intrusive body in the east of the property. This granite is noted to have mineral occurrences of tin (Sn) and beryllium (Be) approximately 6km to the east of the Selta licence area. Stream sediment sampling completed in 2011 by former ASX listed company Crossland Uranium1 (“Crossland”) identified two elevated TREE samples from watercourses that drained from the granite, suggesting a local enrichment. The granite is not known to have been drilled, or sampled in any way to date, and is inferred to extend to the northeast below a cover of surficial geology / weathered granite.
Stream sediments are a highly powerful tool for regional scale “first pass” exploration and are especially powerful when looking for heavier minerals such as those which contain REEs, as the action of water concentrates heavier metals. This type of sampling is not as effective for lighter minerals and elements – such as lithium (Li) hosted minerals (spodumene, petalite and lepidolite) or the clays that might host REE in their structure. As such, stream sediment sampling on Ingallan can only be reliably used to evaluate primary (pegmatite) REE mineralisation.
Twenty-two proposed sampling locations are shown in Figure 2. Sampling at Ingallan is designed to target primary and second / third-order streams to give an overview of the REE potential of the granite itself. The main point of reference for this sampling is the historical sampling completed by Crossland, supplemented by the mapped geology.
Figure 2: Selta Project – Ingallan Proposed Fieldwork December 2025
WEST NINTABRINNA STREAM SEDIMENT SAMPLING
The principal data source in this area is the historical geochemical sampling completed by Crossland which shows highly elevated TREE results from multiple watersheds in the target area. The underlying granite is understood to be fertile due to multiple known mineral occurrences of tungsten (W) to the south and historical tin workings and mineral occurrences to the west (both off the Selta licence area). The granite itself is shown to have a high uranium (U) / thorium (Th) ratio. A high U / Th ratio in granites and other intrusive rocks can indicate fractionated, evolved magmatic fluids, which are often enriched in incompatible elements such as REE, Li, and tantalum (Ta), these elements are often found in pegmatites associated with the granite, or enriched in the granite itself.
Based on the current level of understanding at West Nintabrinna, this area is considered prospective for primary (pegmatite) REE mineralisation. As with Ingallan, there are restrictions on the working area due to the Extent of a Recorded Site (in the west), and a Restricted Works area (in the east). The twenty-three sampling locations (Figure 3) have been selected to evaluate the REE potential of areas upstream of the sampling points that are outside either of the restricted areas and include locations near the historical sampling completed by Crossland.
Figure 3: Selta Project – West Nintabrinna Proposed Fieldwork December 2025
Stream sediment sampling is a significant tool in geochemical exploration. The composition of stream sediments reflects the bedrock geology, overburden cover and metalliferous mineralisation. Stream sediment sampling programmes are an effective way to “screen” exploration areas and home in on catchment areas which chemical analysis suggests are prospective. Drainage channels originate from discrete catchment areas; therefore, any samples of significance found in a channel will have originated from a specific catchment, enabling follow up exploration to focus on specific areas (Figure 4).
Figure 4: Selta Project – West Nintabrinna Target; Historical TREE Catchment Areas and Proposed Sampling Locations
REE exploration is central to the Company’s plans at Selta. The December 2025 stream sediment programme is the first phase of systematic, methodical exploration which has been designed to better understand the REE potential across the Project area. FDR is hoping to capitalise on the increased profile of REE and potentially benefit from the recently announced United States – Australia Critical Minerals Framework and its aim of accelerating the development of mining, processing and recycling projects in priority commodities which it is anticipated will include Junior explorers. The new Framework includes a USD$1 billion investment from both nations over the next six months to help accelerate and unlock an USD$8.5 billion pipeline of critical mineral projects, with a joint commitment to fast-track approvals, which could significantly impact the junior exploration sector.2
REFERENCES
1. Melville, P. (2015) Fourth Annual and Final Report for EL 28492 for the period 28 July 2011 to 22 May 2015. Crossland Strategic Metals Ltd, Mount Stafford, Northern Territory. Submitted to the Northern Territory Department of Mines and Energy.
2. Minerals Council of Australia (2025) US-Australia Framework to unlock USD$8.5 Billion Critical Minerals Pipeline [online] (October 21 2025). Available at: https://minerals.org.au/resources/us-australia-framework-to-unlock-usd8-5-billion-critical-minerals-pipeline
QUALIFIED PERSON STATEMENT
The technical information contained in this disclosure has been reviewed and approved by Mr Nicholas O’Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified 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 First Development Resources plc to provide technical support.
GLOSSARY
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Term |
Definition |
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Aileron Province |
A large geological region in the Northern Territory made up of ancient granites and metamorphic rocks, known for hosting minerals such as rare earths, uranium and lithium. |
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Augering |
A shallow drilling method that uses a spiral drill to collect soil or weathered rock samples from just below the surface. |
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Catchment Area |
The area of land that drains water into a particular stream; minerals in a sample likely come from this upstream area. |
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Critical Minerals |
Minerals essential for modern technologies that have a high risk of supply shortages, including REE, lithium and tantalum. |
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Fractionation (Magmatic) |
A process during cooling of magma where certain elements become concentrated in the final melt, enriching rocks in REE, lithium, tin and tantalum. |
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Gneissic Granite |
A granite that has been deformed by heat and pressure, giving it a banded appearance. |
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Ionic Clay |
Clay-rich material where rare-earth elements are loosely attached to clay surfaces and can be extracted using mild leaching. |
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LCT Pegmatite |
A coarse-grained igneous rock enriched in lithium, caesium and tantalum, often hosting lithium minerals. |
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Mineralisation |
The natural concentration of minerals in rocks or sediments to levels that may have economic value. |
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Pegmatite |
A very coarse-grained igneous rock formed from late-stage magma, often containing rare metals and REE. |
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Primary Mineralisation |
Mineral deposits found in the original bedrock where they formed. |
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REE (Rare-Earth Elements) |
A group of 17 metallic elements used in magnets, electronics and renewable energy technologies. |
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Recorded Sacred Site |
A recorded sacred site is a site that is known to the Authority but has not been registered and includes recorded sacred burial sites. The Authority may hold the information required to register the site should this become the wishes of the custodians. Alternatively, a recorded sacred site may still require further research in order to obtain all necessary information. |
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Restricted Works Area |
Areas where exploration is limited or prohibited due to cultural or environmental regulations. |
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Stream Sediment Sampling |
A method where sediment from streams is analysed to identify upstream sources of mineralisation. |
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Surficial Geology |
Loose soils and weathered materials covering solid rock. |
For further information visit www.firstdevelopmentresources.com or contact the following:
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First Development Resources plc Tristan Pottas (CEO) |
Tel: +44 (0) 20 3778 1397 |
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Beaumont Cornish Limited Nominated Adviser Roland Cornish / Asia Szusciak |
Tel: +44 (0) 20 7628 3396 |
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SI Capital Limited Broker Nick Emerson |
Tel: +44 (0) 1483 413 500 |
Beaumont Cornish Limited (“Beaumont Cornish”) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
ABOUT FIRST DEVELOPMENT RESOURCES
First Development Resources’ assets comprise eight granted tenements covering a total area of 2,314.4km2. Five of the tenements, comprising three prospective copper-gold projects, are located in Western Australia (WA) while the remaining three tenements, comprising a rare-earth element (REE), uranium, lithium and gold project, are located in the Australian’s Northern Territory. All tenements are wholly owned by FDR. The assets are a mixture of drill ready and earlier stage exploration.
The WA Projects include the Company’s Wallal Project as well as Ripon Hills and Braeside West Projects situated in the Paterson Province, which is widely regarded as one of the most productive regions in Australia for the discovery of world-class gold-copper deposits, and which is home to several world-class mines and more recent discoveries.
The Selta Project in the Northern Territory is located in an area considered highly prospective for uranium and rare-earth element mineralisation along with base and precious metal mineralisation. Numerous companies are actively exploring within the region.
Beyond the existing portfolio, FDR is actively looking to expand its portfolio through the acquisition of early-stage exploration projects in Australia.
#AYM Anglesey Mining PLC – Fundraise to raise £220,000
Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce that as follow up to the placing and subscription announced on 28 June 2024, the Company has raised £220,000 (before expenses) by way of a direct subscription of 22,000,000 ordinary shares at a price of 1pence per share (the “Subscription Shares”).
Fundraising Highlights
- Subscription to raise approximately £220,000 (before expenses).
- Issue Price of 1 pence per share
Reasons for the Fundraising
In line with the objectives outlined in the fundraising announced in June 2024, the Company has undertaken this Fundraise and its previous fundraise to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:
- Developmental work at Parys Mountain
- Advancing development options at Grängesberg Iron Ore Mine
- Debt repayment; and
- General working capital purposes
The Company is advancing a number of initiatives with a view to supporting its cash position, however if these are not successful the Company will need to raise further funds towards the end of the calendar year to continue to progress its activities.
The Subscription is conditional only on Admission.
Admission
Application has been made to the London Stock Exchange for admission of the Subscription Shares to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8.00 a.m. on or around 30 September 2024.
The Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 483,593,017 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company’s share capital pursuant to (i) the Company’s Articles, (ii) the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
For further information, please contact:
Anglesey Mining plc
Rob Marsden, Chief Executive Officer Tel: +44 (0)7531 475111
Andrew King, Interim-Chairman Tel: +44 (0)7825 963700
Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363
Zeus Capital
Joint Corporate Broker
Harry Ansell/Katy Mitchell – Tel: +44 (0) 203 829 5000
#SVML Sovereign Metals LTD – Malawi Rail Upgrades Underway
Malawi Rail Upgrades Underway
· Upgrading of the 399km Nkaya-Mchinji section of railway currently underway as part of Government of Malawi’s “Rail Strategy and Growth Plan”
· Railway runs across Sovereign’s Kasiya Rutile-Graphite tenements from Mchinji at the Malawi-Zambia border to Nkaya Junction, where it connects to the Nacala Logistics Corridor providing an export route through the deep-water port of Nacala
· Refurbishment of the railway will improve efficiency and capacity, and is being undertaken by Central and Eastern African Railway Company (CEAR) with completion expected by end of 2024
· Upgrade works include refurbishing rail bridges and reballasting along the section through Kasiya to increase maximum axle load from 15 tonnes to 18 tonnes
· Upgrade of the line section through the Kasiya Project area is near complete, running from Lilongwe District southward to the Nacala Logistics Corridor
· Nacala Logistics Corridor is the preferred logistics route for exporting Sovereign’s rutile and graphite products to global customers, with the Sena Rail Line to the Port of Beira offering a secondary route
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to report that upgrading of the 399km Nkaya-Mchinji Section Railway (Railway) connecting the Malawi-Zambia border to the Nacala Logistics Corridor (NLC) and which runs across the Company’s Kasiya Rutile-Graphite Project (Kasiya or Project) tenements, is underway. Refurbishment of that part of the Railway mainline which connects the Kanengo junction in the Lilongwe District, where Kasiya is located, to the NLC junction at Nkaya is near completion.
Figure 1: CEAR undertaking upgrade works on a railway bridge connecting Kasiya to the NLC
Rehabilitation of the Railway is an initiative by Malawi’s Ministry of Transport and Public Works and forms part of the Government of Malawi’s Rail Strategy and Growth Plan, which has the stated mission “to facilitate the provision of a safe, efficient, and sustainable rail transport system” to “promote socio-economic development.”
Upgrade works will increase efficiency and capacity of the Railway and are being undertaken by CEAR. Completion is planned for the end of 2024. Works include refurbishing railway bridges and reballasting to handle increased load-bearing capacity from a current maximum axle load of 15 tonnes to 18 tonnes.
Managing Director Frank Eagar commented: “Kasiya already benefits from exceptional existing infrastructure in central Malawi. This refurbishment project re-affirms Kasiya’s logistics solution with sufficient rail capacity, enhanced reliability and a direct connection to the deep-water export Port of Nacala. The infrastructure investment by CEAR and Nacala Logistics along with approvals from the Malawi Government is a demonstration of the country’s commitment to achieving its major economic development goals which include developing the mining industry and increasing Malawi’s export market.”
Figure 2: Upgrade works at a railway bridge on the Nkaya-Mchinji Section Railway
Kasiya benefits from two options for transporting its rutile and graphite products from the mine operations to seaports, being the Nacala Logistics Corridor to the Port of Nacala and the Sena Rail Line to the Port of Beira (Beira Corridor). The current upgrades to the Nkaya junction improve access to the NLC and will ultimately also improve access to the Beira Corridor.
The NLC offers the preferred logistics route to the deep-water Indian Ocean port of Nacala to export to global markets. This established and operation-ready logistics infrastructure provides significant capital and operating cost savings to Kasiya. To access the NLC, Sovereign plans to construct a 6km rail spur to connect directly with the processing plant, increasing efficiencies in handling inbound and outbound freight compared to any road alternative.
The Beira Corridor, comprised of the Sena Rail Line and the Port of Beira, provides Sovereign with a second route to export markets and is currently undergoing its own upgrade works. Last year, the Beira Development Corridor Agreement was approved, with the objective of connecting the Democratic Republic of Congo, Zambia, Zimbabwe, and Malawi to the Mozambican Port of Beira through road and rail networks. As Mozambique’s second largest port, the Port of Beira is a significant driver of the region’s economy and an important gateway for global trade, handling a wide variety of containerised and bulk cargo. The Beira Development Corridor Agreement project aims to eliminate logistical bottlenecks for international and intra-African trade. The African Development Bank (AfDB) is a major financier of the project.
Figure 3: Nacala Logistics Corridor with section currently being upgraded in orange
Figure 4: Port of Nacala, Mozambique
Figure 5: Port of Beira, Mozambique (Source: Cornelder de Moçambique)
Figure 6: A Nacala Logistics Corridor train
ENQUIRIES
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Frank Eagar (South Africa/Malawi) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat |
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Joint Brokers |
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Stifel |
+44 20 7710 7600 |
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Varun Talwar |
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Ashton Clanfield |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Buchanan |
+ 44 20 7466 5000 |
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
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END
Cadence Minerals #KDNC – Corporate Update – Hastings Technology Metals
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement by Hastings Technology Metals (ASX: HAS) (“Hastings”) and Neo Performance Materials Inc (TSX: NEO) (“Neo”) regarding the signing of a non-binding Heads of Agreement for rare earth concentrate offtake from the Yangibana Rare Earths Project (“Yangibana”) and further downstream collaboration.
The agreement signals the intention of Hastings and Neo to take an important step forward in a potential strategic partnership between the two companies to strengthen their shared vision for an integrated mine-to-magnet rare earth supply chain. The Agreement outlines the framework for both parties to negotiate a binding offtake agreement and pursue further downstream technical and commercial collaboration.
Highlights:
- Hastings and Neo sign a non-binding Heads of Agreement, outlining the framework for the parties to negotiate a binding commercial offtake agreement for the supply of rare earth concentrate from Stage 1 of the Yangibana Rare Earths Project.
- In Yangibana Stage 1, Hastings would supply up to 25,000 tonnes per annum of concentrate from Q1 CY2025 for Neo’s downstream processing facilities across Europe and Asia, to be followed by up to 10,000 tonnes per annum of Mixed Rare Earth Carbonate upon completion of Stage 2
- The offtake arrangement for concentrate from Yangibana would provide an additional source of feedstock for NPM Silmet OÜ (“Silmet”), Neo’s rare earth separation facility in Sillamäe, Estonia
- Silmet plans to produce separated rare earth oxides for Neo’s sintered rare earth permanent magnet manufacturing plant under development in nearby Narva, Estonia, which is expected to supply the European electric vehicle and renewable energy markets
- The contemplated offtake arrangement could cover up to 70% of Stage 1 and 2 Yangibana production for an initial period of 10 years
- The Agreement also provides for cooperation in the areas of evaluating joint downstream processing opportunities, technical, and commercial collaboration
Link here to view the full Hastings announcement
Hastings Executive Chairman Charles Lew commented: “The signing of this Heads of Agreement builds on Hastings’ strategic investment in Neo Performance Materials, representing a significant step forward in our vision to advance synergies between both companies with a view to creating a fully integrated mine-to-magnet supply chain. We share this vision with our partner Wyloo Metals, who has been very supportive in our mine-to-magnet strategy as we see a unique opportunity to be a major player in building a European centric magnet supply chain during this decade. This agreement with Neo represents the first step in a strategic partnership that will establish Hastings as a reliable supplier of rare earth feedstock to the European permanent magnets industry, and further strengthens the staged development strategy for the Yangibana Project, with a pathway to early project cashflows from Stage 1 concentrate sale.”
Neo Performance Materials CEO, Constantine Karayannopoulos, said: “This initiative supports Neo’s strategic efforts to continue to globally diversify our sources of rare earth feedstock and to provide our customers with maximum supply chain optionality. The Yangibana resource is an attractive potential source of magnetic rare earths–NdPr in particular–and it could contribute to meeting the feedstock targets of our planned Estonia magnet manufacturing facility as well as a potential future Page 2 of 4 expansion in North America. Neo looks forward to working toward a definitive agreement with Hastings on the material from the Yangibana project.”
Cadence CEO Kiran Morzaria, commented: “To echo the words of Hastings Chairman Charles Lew, today’s agreement marks another step along the road for the Yangibana mine-to-magnet chain. Cadence remain enthusiastic shareholders and supporters of Hastings Technology Metals and the Yangibana Rare Earths project, and we look forward to further updates.”
Cadence shareholding in Hastings
On 25 January 2023, Cadence completed the sale of its 30% stake in several mineral concessions forming part of the Yangibana Rare Earths project for a consideration of 2.45 million Hastings shares, equating to approximately 1.9% Hastings issued share capital. This consideration was a premium over the Net Present Value (“NPV”) of the Cadence portion of the mineable material, based on the definitive feasibility (“DFS”) updated by Hastings on 21 February 2022.
The full announcement concerning the Yangibana sale is available here.
| For further information contact:
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| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
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WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
| James Joyce | |
| Darshan Patel
Enzo Aliaj |
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| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green
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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.
Cautionary and 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 the company’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 the company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The company cannot assure investors that actual results will be consistent with such forward-looking statements.
The information contained within this announcement is deemed by the company to constitute Inside Information as stipulated under the Market Abuse Regulation (E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
Golden Metal Resources #GMET – Appointment of Strategic United States Government Advisor
Golden Metal Resources plc (LON:GMET), a mineral exploration company focused on tungsten, gold, copper and silver within Nevada, USA, announces the appointment of Mrs. Chang Oh Turkmani as a Strategic United States Government Advisor to the Company with immediate effect.
As Strategic United States Government Advisor to the Company, Mrs. Turkmani will be responsible for helping the company advance its critical minerals strategy within Nevada and the broader United States.
Golden Metal will be providing an update to the market in regards to its United States awards strategy shortly which will include further details on the awards process, timelines, and specific awards that the Company intends to pursue, with a particular focus on seeking US government supported funding for the Pilot Mountain Project.
Biography:
Mrs. Turkmani is a respected, multilingual businesswoman with extensive experience in the import and export of industrial commodities, as well as the mining, manufacturing, construction, energy trading, shipping, environmental remediation, renewable energy, and investment advisory industries. She leverages her expertise in investing in critical minerals ranging from lithium, cobalt, nickel, tungsten, and rare earths, government procurement, structuring major infrastructure projects, and strategic planning to help oversee corporate execution.
Mrs. Turkmani is Managing Director and Principal of The Mega Company, based in Washington, DC – a role she has held since 1990. The Mega Company is a private American development company and import and export business that principally deals with industrial raw materials and goods, including iron ore, metallurgical coal, rock phosphate and cement. She is Principal of American Construction Technologies, Mega Distribution and Key Logistics Centre, based in Bucharest, Romania, where she is responsible for the development, construction and management of one of the largest US developments in the highly specialized field of temperature-controlled warehouses and logistics. Mrs. Turkmani led the companies through significant organic growth and infrastructure development.
Other leadership roles include Managing Director at CDM Global, which is an environmental remediation and industrial waste management, environmental due diligence, permitting and impact assessment business, and Crest Energy, which is in the production of renewable energy and wholesale trading of electricity. Originally qualifying as a lawyer with Dow, Lohnes & Albertson, she moved to work for Patton, Boggs & Blow in Washington, DC.
She holds a Bachelor’s and a Master’s degree from Northwestern University and a Juris Doctorate from Georgetown University Law Center in Washington, DC where she has been Adjunct Professor of Law for more than 16 years teaching Pre-negotiation Strategies for Cross-Border Transactions. She is a qualified lawyer in the US, having specialised in International Trade, Cross-Border Negotiation, Due Diligence, and Dispute Resolution. She received a U.S. Presidential Appointment to be a Board member on the National Cancer Advisory Board, is a Board member of the American Romanian Business Council, and a Board Member and Finance Chair of Alianta – a U.S. non-profit organisation working to strengthen the cultural, economic and security ties between the United States and Romania. In addition to numerous accolades, she was knighted Dame by the Order of Knights Templar.
Oliver Friesen, CEO of Golden Metal, commented:
“Let me be the first to welcome Mrs. Turkmani to the Golden Metal team. She brings a wealth of experience and connections within Washington D.C. and the US Government which will be hugely valuable to Golden Metal as we rapidly push forward the defense and critical metals strategy of our flagship Pilot Mountain Project.
“Significant amounts of non-dilutive grant funding have recently been made available by various US government departments including the Department of Defense (DOD), Department of Commerce (DOC), Department of Energy (DOE) and Department of Minerals (DOM) among others. With Mrs. Turkmani now engaged as a Strategic United States Government Adviser to the Company, we look forward to rapidly advancing this strategy and communicating to the market the steps being taken in this regard.”
Further Details
Mrs. Turkmani will be paid a fee equivalent to £34,250 per annum and she is engaged for a 2 year period, with the possibility of extension. The total contract value over 2 years is therefore £68,500, to be satisfied through the issue to Ms. Turkmani of 805,882 new Golden Metal ordinary shares of 1.0p (“Ordinary Shares”) at an issue price of 8.5p per Ordinary Share (“Contract Shares”).
The issue price of the Contract Shares equates to Golden Metal’s share price on its admission to AIM on 10 May 2023.
Following issue of the Contract Shares, Mrs. Turkmani’s total interest in Golden Metal, including those acquired during the IPO financing by The Mega Company (which is beneficially owned by Mr Salah Turkmani, the husband of Mrs. Turkmani), will amount to 3,747,058 representing to 4.41% of the Company’s issued share capital.
Admission and Total Voting Rights
Application will be made for the 805,882 Contract Shares to be admitted to trading on AIM which is expected to occur on or around 9 June 2023 (“Admission”). The Contract Shares will rank pari passu in all respects with the existing Ordinary Shares currently traded on AIM.
Following Admission, the Company’s issued share capital will comprise 85,000,255 Ordinary Shares. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
For further information visit www.goldenmetalresources.com or contact the following:
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Golden Metal Resources plc Oliver Friesen (CEO) |
Tel: +44 (0) 20 7583 8304 |
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Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O’Driscoll |
Tel: +44 20 7213 0880 |
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First Equity Limited Broker Jonathan Brown/Jason Robertson |
Tel: +44 20 7374 2212 |
The Projects:
Pilot Mountain Project
The Pilot Mountain project is an advanced exploration and mineral resource definition stage project located in Mineral County in western Nevada. The project covers an area of 14.80 km2 (3,656.1 acres) and is located 200km southeast of Reno and 18km east of Mina, Nevada. It is well situated for the supply of power, water and skilled labour and proximity to transport infrastructure in Mineral County and is centred around four existing mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which possess significant skarn-style tungsten-copper-silver-zinc mineralisation. The Pilot Mountain project consists of 176 active lode mining claims and 4 filed mill site claims. The four mill site claims filed at the former Dunham mill site have secure access to groundwater supply sufficient for the proposed project.
Golconda Summit Project
Golden Metal is the operator of the Golconda Summit project, which is held under an earn-in right to acquire up to 100 per cent. of the project from the mineral claim owner pursuant to an option agreement. The Golconda Summit project is an exploration stage gold and silver project located in Humboldt County and situated at the confluence of the Getchell and Battle Mountain – Eureka metallogenic trends, and consists of 44 lode mining claims, covering a total area of approximately 3.22 km2 (795.4 acres) located approximately 27km east of Winnemucca.
Garfield Project
The Garfield project is an early exploration stage copper, gold and silver property consisting of 39 lode mining claims covering 3.23 km2 (797.9 acres) located in Mineral County, Nevada, approximately 14km due east of the town of Hawthorne and 120km due west-northwest of Tonopah.
Stonewall Project
The Stonewall project is an exploration stage gold-silver property prospective for epithermal gold-silver mineralisation. The property consists of 19 lode mining claims covering 1.59 km2 (392.5 acres) located on the northern flank of Stonewall Mountain, on the western edge of the Nellis Airforce Range Restricted Access Area, in Nye County, Nevada, approximately 24km south-east of the historic gold mining town of Goldfield and 60km due south of Tonopah.
#POW Power Metal Resources PLC – New Lithium Project – Ontario, Canada
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the acquisition by staking of the 100% owned, North Wind Lithium Project (“North Wind” or the “Project”) located in Ontario, Canada.
The staking was completed through Power Metal’s wholly-owned Canadian subsidiary, Power Metal Resources Canada Inc (“Power Canada”).
HIGHLIGHTS:
· Following a detailed review of several publicly available provincial government geological databases and reports, Power Metal have staked a total of 5,788.5-hectares over a 16km long trend of highly anomalous lithium-in-lake sediment results.
· The North Wind Lithium Project is considered by the Company to be prospective for lithium (Li), caesium (Cs), and tantalum (Ta) (“LCT”) bearing pegmatite occurrences.
· The Project is ideally located less than 25km northwest of the town of Beardmore, Ontario, and is criss-crossed by multiple access roads which connect up to the Trans-Canada Highway located less than 40km away.
· This Project acquisition provides Power Metal Resources with a significant land holding which is prospective for LCT pegmatite occurrences within the stable and supportive mining jurisdiction of Ontario, Canada.
Paul Johnson, Chief Executive Officer of Power Metal Resources commented:
“The addition of the North Wind Lithium Project is a significant boost for Power Metal Resources as it provides the Company with a new and potentially high-impact lithium focused opportunity.
We consider that lithium as a commodity has a particularly bright future with high demand and constrained supply. In fact, the significant move higher in the lithium price has sparked considerable interest in available exploration properties around the world, and particularly those in safe jurisdictions.
It was a great achievement that through painstaking work, the Power Metal technical team have been able to identify this new opportunity and secure it through staking, one of the most cost-effective ways to secure new interests.
Further updates will follow as we advance our knowledge and set out exploration plans for the North Wind Lithium Project.”
ADDITIONAL INFORMATION:
The Project is located within the Onaman-Tashota greenstone belt, where historical exploration has traditionally focused on precious and base-metals – however the geology, in a provincial Open File Report (the “Report”), determined that the belt was prospective for LCT pegmatite occurrences – the main source of ‘hard rock’ lithium worldwide. 1
Other lithium explorers and operators within the region include Imagine Lithium Inc. (TSX.V: ILI) with their Jackpot Lithium Project (with a reported historical non-compliant resource of 2,000,000 tonnes at 1.09% Li2O), located 50km to the south of North Wind and Green Technology Metals (ASX: GT1) with their flagship Seymour Project (which hosts a JORC compliant total Mineral Resource of 9.9Mt at 1.04% Li2O) located approximately 65km to the northwest.
The Project is centred on a granitic intrusion, cut by numerous mapped dykes. Highly anomalous lake sediment results (detailed further below) suggest that a zoned LCT pegmatite system may be present but has never been investigated. North Wind was identified through detailed research and analysis by the Power Metal Resources technical team, utilising over 600,000 individual lake sediment sample points collected by the Ontario Geological Survey (OGS), who also prepared selected recommendations for exploration which were presented in the Report 1. Based on this data as well as information contained within the Report; the area encompassing the North Wind Project was selected for the strategic acquisition by staking.
The highly prospective and anomalous lake sediment data contained within the Project includes:
· Seven instances of >99th percentile (with respect to regional data) Li-in-lake sediment results (ranging from 18.63 to 34.95 ppm Li) with 34.95 ppm representing the 99.95th percentile result.
· Of those seven samples, six are >95th percentile for caesium (1.26 to 2.21 ppm Cs), with three >99th percentile (1.94 to 2.21 ppm Cs).
· The seven samples are also noted to be highly elevated in tantalum with results ranging between 0.6 and 0.9 ppm Ta.
The presence of anomalous, or highly elevated concentrations of lithium, caesium and tantalum from samples collected within the same water body suggest a nearby mineralised source, and therefore the Project represents a highly prospective target for LCT pegmatite occurrences. Further desktop analysis is currently underway, with a comprehensive Phase I Field Sampling Programme planned in Q1-Q2, 2023.
STAKING PROCESS:
A total of 278 Mining Claim cells were registered by electronic staking through the Ontario Mining Lands Administration System, covering a total area of 5,788.5-hectares for a total cost to the Company of CAD $13,900 (circa £8,500). The mining cells are 100% owned by Power Canada, a wholly owned subsidiary of Power Metal Resources plc. Each Mining Claim cell covers 20.82-hectares and has an annual exploration spend commitment of CAD$400 from year two onwards. The Project therefore has a total exploration spend commitment of circa £68,000 by the end of year 2 and then annually onwards, in order to keep all 278 Mining Claim cells in good standing.
A map showing the outline of the property, basic geological information and lake sediment results is below:
Fig. 1: Plan Map of the North Wind Lithium Project and Surrounding Area.
QUALIFIED 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 Qualified 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:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
REFERENCE NOTES;
1: Cundari, R.M., Paju, G.F., Hinz, S.L.K., Tuomi, R.D., Fudge, S.P., Pettigrew, T.K., 2019, Ontario Geological Survey Open File Report 6352, Report of Activities, 2018 Resident Geologist Program.
#BRES Blencowe Resources – Investor Call
Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, is pleased to announce that it will host a shareholder conference call and Q&A via Zoom conferencing on Thursday 17 February 2022 at 10:00am UK time (6:00pm WST time).
The call will be hosted by Blencowe’s CEO Mike Ralston who will be updating on the recently announced successful drilling results as well as the Company’s strategy moving forward.
Interested investors are invited to register using the following link:
https://us02web.zoom.us/webinar/register/WN_NPAroCXpT6OQIWKP1Xox1Q
Those who wish to may add this event to their online diary by clicking here:
https://www.addevent.com/event/DZ11954380
Shareholders who wish to do so are invited to submit questions via email to info@blencoweresourcesplc.com
The most recent copy of the Company’s corporate presentation can be found at the following link:
https://blencoweresourcesplc.com/presentation/
Please note that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. A recording of the call will also be made available on the Company’s website following the call.
**ENDS**
Contacts
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Blencowe Resources Plc
Sam Quinn (London Director)
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info@blencoweresourcesplc.com +44 (0)1624 681 250
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Investor Enquiries Sasha Sethi
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Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
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Brandon Hill Capital Limited Jonathan Evans
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Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |