BHP Billiton has agreed to cease progression of the Caroona Coal Project, through the cancellation of Exploration Licence (EL) 6505. BHP Billiton Minerals Australia President, Mike Henry, acknowledged the NSW Government’s willingness to come to an acceptable agreement in respect of the cancellation. “While we believe that Caroona would have been developed responsibly, we accept the Government’s decision and appreciate its willingness to work with us to agree an acceptable financial outcome for the cancellation of our exploration licence,” Mr Henry said. “The Caroona Coal Project was studied extensively and developed cautiously for almost 10 years. We carried out extensive…
Rio Tinto will invest an incremental $338 million to complete the development of the Silvergrass mine in its world-class Pilbara iron ore operations in Western Australia. The brownfield expansion of the high-grade Silvergrass mine offers attractive returns, with an expected internal rate of return for this investment well in excess of 100 per cent and a pay back of less than three years. It is a key element in maintaining Rio Tinto’s premium Pilbara blend, and also delivers incremental tonnage and lower unit costs. As anticipated in previous guidance, this Silvergrass investment adds 10 million tonnes of capacity. The investment…
BHP Billiton has confirmed that it will not be seeking a further extension to the Variation Deed to the Indenture, which was executed between BHP Billiton and the State of South Australia in October 2011 to accommodate an open pit development at Olympic Dam. The Indenture is the State Agreement which governs the operation of Olympic Dam. As outlined in December last year, BHP Billiton is now pursuing an underground development pathway for Olympic Dam that, subject to approvals and an attractive investment environment, could see copper production increase to 450ktpa from 2025. Therefore as BHP Billiton will not…
Blackham Resources Ltd has successfully achieved another milestone towards gold production with the commencement of open pit mining and underground development work at the Company’s Matilda Gold Project. Blackham’s open pit contractor, MACA Ltd has mobilised the initial mining fleet and commenced mining operations at the Matilda M10 open pit. Pybar Mining Services Ltd has also commenced underground development at the high grade Golden Age orebody. Blackham’s Managing Director, Bryan Dixon, said: “The commencement of mining represents another significant milestone in the Company’s transition from gold explorer to producer at a time of record Australian gold prices”. The 5.1Moz Matilda…
IM Medical Limited has entered into an exclusivity agreement with Rox Resources Limited in relation to an offer to acquire Rox’s interest in the Reward zinc-lead joint venture through IMI’s wholly owned subsidiary IMI Zinc Exploration Pty Ltd. The Reward project is currently owned 49% by Rox and 51% by Teck Australia Pty Ltd, a subsidiary of Teck Resources Limited. Teck has the option to increase its JV interest to 70% by spending A$15 million in total by 31 August 2018. As at 31 March 2016 Teck had spent approximately $13.85 million. The parties have entered into an exclusivity agreement…
Toro Energy Limited has taken another important step in the development of the Wiluna Uranium Project with the signing of an agreement with the Wiluna People providing the consent of native title holders. More than seven years of relationship building between the Wiluna People and Toro culminated in a community meeting at Wiluna to ratify the agreement. Toro’s Managing Director, Dr Vanessa Guthrie, expressed the Company’s deep appreciation for the constructive approach the Wiluna People had taken to the development of their relationship with Toro and the negotiation of the mining agreement. Speaking for Tarlka Matuwa Piarku Aboriginal Corporation (TMPAC…
Red River Resources Limited has announced that a review of the historic Thalanga exploration database has identified a number of additional high priority exploration targets at its Thalanga Zinc Project in central Queensland. The review has confirmed that the favourable Thalanga Horizon is open at depth to the west and the east, and has highlighted a number of areas for further high priority exploration. Of particular interest is the Thalanga East to Far East area, where the review highlighted a historic drill hole intercept of 4.6m @ 4.1% Cu beneath Thalanga East and multiple intercepts of polymetallic zinc rich mineralisation…
Latin Resources Limited (ASX: LRS), a major Australian mineral exploration company, has announced the successful completion of its drilling program at the Colina Resource, a key part of its Cloud Nine Halloysite-Kaolin Project in Western Australia. The drilling program, totalling 5,000 metres of reverse circulation (RC) drilling, was completed on schedule and within budget. Initial assay results from the first phase of drilling have confirmed the presence of high-grade halloysite and kaolin mineralisation, with detailed analysis and further assays underway. The company expects to release these results in the coming weeks. The primary aim of the drilling program was to…
Summit Minerals (ASX: SUM) has completed a successful multispectral analysis at its Equador project, identifying 30 priority targets prospective for niobium mineralisation. Led by Dr Neil Pendock of Dirt Exploration, the analysis used Sentinel-2 satellite imagery to map spectral signatures indicative of niobium mineralisation. The targets, strategically located across the project area, correlate closely with historical data, marking a significant step in Summit Minerals' exploration efforts. The analysis revealed multiple high-priority targets, with ground-truthing confirming a strong correlation between spectral data and tourmaline pegmatite occurrences. An upcoming drone magnetic survey will further refine these targets, supporting an efficient drilling campaign…
Titan Minerals Limited (ASX: TTM) has announced significant discoveries of high-grade gold and silver mineralisation at its Dynasty Gold Project in southern Ecuador. Recent exploration efforts have expanded the project's footprint, with rock chip sampling indicating extensive gold and silver mineralisation beyond the existing resources. Recent sampling has revealed impressive rock chip results, with assays showing 8.71 g/t gold and 197 g/t silver at the Papayal prospect, and 8.73 g/t gold at Trapichillo. These findings mark substantial extensions of known mineral zones. The project's 3D geological model has undergone significant expansion and updating, reflecting an improved understanding of the geology.…
Island Passage Development Canada Limited (IPDC) has announced the commencement of a mineral exploration program by its PNG subsidiary, Island Passage Development Limited (IPD), on the EL02 exploration licence in Bougainville, Papua New Guinea. The program, conducted in partnership with Isina Resource Holdings Limited (IRHL), a customary landowner company, marks the first large-scale mineral exploration program on Bougainville outside the special mining lease held by Bougainville Copper Ltd (Rio Tinto – CRA) since 1965. Located in south-central Bougainville in the Crown Prince Range, nine kilometres southeast of the historic Panguna copper-gold mine, the 261 square km EL02 exploration licence is…
American Rare Earths Limited (ASX: ARR) has announced significant progress in the extraction of Rare Earth Elements (REE) from its Halleck Creek project. Collaborative research with the U.S. Department of Energy and Virginia Tech has resulted in innovative metallurgical studies that could revolutionise the economic viability and sustainability of rare earth element mining. Key findings from the studies include: Two peer-reviewed studies confirm the potential for high-grade, economically viable extraction of REEs from the Halleck Creek ore using low-temperature, direct acid leaching techniques. A remarkable recovery rate of 80 per cent of REEs within the first 10 minutes using low-temperature…
Oar Resources Limited (ASX: OAR), an exploration and development company focused on battery and critical minerals, has reported significant progress in its global expansion and financial performance for the first quarter ending 31 March 2024. The company has signed a binding agreement to acquire 100 per cent interest in two Exclusive Prospecting Licences (EPL) located in Namibia's Erongo Region, a well-known uranium mining jurisdiction. This move positions Oar in a major uranium-producing region, enhancing its portfolio with valuable uranium prospects. In Brazil, Oar has expanded its presence by securing pegging applications for uranium and rare earth element (REE) prospects in…
Alderan Resources Limited (AL8) is gearing up for a Stage 1 diamond drilling program at the New Years prospect, part of its Frisco copper-gold project in Utah, USA. The program, scheduled to commence in June 2024, will consist of four holes totalling 540 metres, with an additional six holes (1,500 metres) planned for Stage 2 pending the results of the initial drilling. The company has also begun soil sampling over the composite New Years magnetic anomaly to extend coverage from the 1960s, with grades up to 0.31% Cu. The anomaly, double the size of the Cactus anomaly, forms part of…
