Southern Gold has completed a definitive farm-in and 50/50 JV Agreement with its partner Bluebird Merchant Ventures for the Gubong gold project in South Korea. Bluebird will deliver a feasibility report in July, outlining its preferred re-development options at the mine. The JV Agreement is triggered when the mine development framework presented by Bluebird to advance the project is deemed satisfactory to Southern Gold.
Greenland Minerals has announced it will complete its Environmental and Social Impact Assessments for the flagship Kvanefjeld rare earths project in southern Greenland by June, paving the way for it to mine the world’s largest rare earths deposit. The Perth based company revealed this week that it has been working hand in glove with the Greenland Government to make the project happen.
Mobile payments APP developer Peppermint Innovation has again tapped bullish tech investor Smidge Digital for a placement and once again Smidge has gone in at a premium price to the market. Peppermint is rapidly developing its two APP products that are taking off in the Philippines, one is already being used by the big banks in-country as a mobile banking APP for its customers.
Strike Energy has moved into the coveted Northern Perth Basin oil and gas post code in a deal with Warrego Energy on a block that looks a little like the huge Waitsia gas discovery located just 16km away. Strike will become the operator and 50% owner in the block that is very close to Australia’s largest onshore gas discovery in 40-years.
Myanmar Metals has locked in a major Myanmar based industrial company to invest in its large, Bawdwin polymetallic zinc project in that country, potentially de-risking the venture. East Asia Power Company will acquire a 24.5% share of the project, by reimbursing Myanmar’s costs on a pro-rata basis to date and into the future. East Asia Power operate the Lashio zinc refinery and several mines in Myanmar.
Infinity Lithium has successfully completed drilling for a feasibility study at the San Jose lithium project which is rapidly emerging as one of the most likely new supply hopes for European electric vehicle makers. New results suggest Infinity should be able to steepen the pit walls of the proposed open pit, cutting an already low stripping ratio and giving the project a further economic boost.
Field trials conducted with an international freight and logistics company have delivered a pass mark with distinction for ASX listed Spectur’s “see in the dark” thermal camera detection system, clearing an important final hurdle ahead of the imminent launch of the company’s surveillance technology to a range of industries. The solar powered cameras are wireless and can detect an intruder at great distances in complete darkness.
Strike Energy has drilled the intermediate section of the historic Jaws-1 well in the Southern Cooper Basin and is set to begin the critical, horizontal drilling phase of the campaign before flow testing the historic, pure coal seam well at previously untested depths of more than 2km below surface. Investors are now set for a white knuckle ride one way or another.
Southern Gold has secured tenure at another historic gold mining operation, building its impressive portfolio of epithermal gold-silver projects in South Korea. The Aphae project has produced nearly 4000 ounces of gold and lies within a significant alluvial gold field. The mineralisation is open along strike and at depth, with rock chip results returning grades up to 6.08g/t gold and 93g/t silver.
King River Copper will raise a minimum of $6m and up to $18.5m thanks to an innovative underwriting of its soon-to-expire options and a share price that has run off the Richter scale on the back of exploration and metallurgical successes. The company also announced it had pegged 3,000 square kilometres of additional ground, locking up its exciting new gold play in the East Kimberley.
Middle Island Resources has accidentally produced another stunning gold intercept from the Two Mile Hill deposit near Sandstone while drilling a large diameter core hole to collect samples for ore sorting testwork. The latest intercept from a poorly drilled section of the deposit featured 100 metres at 2.02 g/t gold, including 7m at 18.1g/t gold, well above the target grades for the Two Mile Hill deeps deposit.
St George Mining has announced a high grade nickel-copper sulphide intersection from the Stricklands prospect at its Mt Alexander project west of Leonora in W.A. The 13.6 metre intercept from 40m depth contained a 4m section with average grades of 4.7% nickel and 2.0% copper using pXRF analyses. The mineralisation is true width and backs up last years spectacular 17.5m hit going 3% nickel.