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Image signs heavy mineral sales agreements

Image Resources has signed sales agreements for 70,000 tonnes of zircon-rich HMC from its Boonanarring project north of Perth for three bulk shipments with Chinese offtake partner Shantou Natfort Zirconium and Titanium. The company has also received significant interest from other potential buyers for its HMC, which could indicate rising demand for the product in China.

Tyranna eyes early cash flow from Eureka gold project

Tyranna Resources has completed a review of a restart study that confirms the potential to generate $2.6m in positive cash flow through an early mining opportunity at its Eureka gold project near Kalgoorlie. The project is expected to have capital costs of between $600,000 and $700,000 and will mine 60,500 tonnes of ore to produce 4057 ounces of gold at a diluted grade of 2.1g/t over two months.

Coziron in box seat as Palmer/CITIC brawl heats up

Coziron Resources is looking to breathe life back into its unique, high-quality, Ashburton magnetite project, with drilling planned to deliver a maiden JORC compliant resource, just 40km from CITIC’s massive Sino project. The company has identified extensive magnetite deposits at least 6km long and 1km wide at Ashburton, with encouraging analytical work that showed mass yields of magnetic iron content up to 42% and concentrate grades exceeding 67% iron.

High grade lithium hits roll on for Hawkstone in US

Hawkstone Mining has outlined more high-grade lithium assays from the Big Sandy clay project in the US, including 39m @ 2,015 ppm lithium from 23m down-hole. The company is poised to accelerate its exploration and development activities at the project, following a recent oversubscribed placement for $2.4m, which will facilitate the estimation of a mineral resource and the completion of definitive metallurgical test work programs.

88 Energy to farm out Alaskan oil project

88 Energy Alaska-focused 88 Energy is closing in on a potential farm-out of the conventional rights at its Project Icewine in Alaska’s North Slope, with its preferred bidder scheduled to make a final decision in June. Final analysis of the HRZ shale at the same project has indicated that more than half of its large lease holding of about 528,000 acres remains prospective for unconventional oil.

Analyst bullish on Geopacific

Petra Capital has produced a research report comparing the value of recent M&A transactions in the junior gold sector with Perth based, ASX-listed PNG gold explorer and developer, Geopacific Resources. Geopacific is sitting on nearly 1.6 million gold ounces in PNG and has access to a wider goldfield on the Pacific island that looks to be highly prospective for the elusive yellow metal.

Novo revved up for full tilt at Pilbara gold play

Novo Resources has installed a new exploration camp and has awarded an earthmoving contract for its upcoming bulk sampling and processing activities at the emerging Egina gold project located near Port Hedland, WA. The company recently undertook ground surveys and field investigations that outlined potential conglomerate-hosted and alluvial gold sites suitable for the bulk sampling operations.

Lithium Australia broadens reach to vanadium

Lithium Australia has outlined a maiden vanadium mineral resource for a portion of the Youanmi Complex near Sandstone, WA, that it has the option to purchase from Diversity Resources. The inferred resource of 185 million tonnes grading 0.33% vanadium pentoxide is near Venus Metals’ Youanmi vanadium project and was estimated using historical drilling completed by Australian Gold Resources back in 1999.

Neometals revises Barrambie DFS, pivots to titanium

Neometals has released an updated DFS confirming that the production of vanadium pentoxide and ferrovanadium from its Barrambie project near Sandstone, WA, is both technically feasible and economically viable. The company will now focus on a pilot-scale evaluation of hydrometallurgical processing to recover titanium, vanadium and iron products rather than just the vanadium contained within the project’s ores.

More gold targets for Bellevue in WA

Bellevue Gold’s deep hole drilled with the assistance of the WA Government’s exploration incentive scheme at its namesake project near Leinster, WA, has intersected visible gold below the historical Bellevue mine. The company’s own ongoing exploration program also discovered a new Viago look-alike target immediately west of the high-grade Tribune Lode.

Terrain’s trenching program targets high grade gold

Terrain Minerals is gearing up to complete a surface trenching program across a high-grade zone identified on its Wild Viper tenement near Leonora, WA, to follow up a rock chip sample of 4.67g/t gold returned from the 382-shear prospect in March. The exploration target is located just south of the Great Western gold mineral resource and has been interpreted to strike over more than 2.5 kilometres.

Northern defines new rare earth target in WA

Northern Minerals has returned encouraging preliminary rare earth element results from portable XRF assaying completed on infill, extension and exploratory RC drilling samples at the Dazzler and Iceman prospects near its Browns Range operation in the East Kimberley region of WA. The company said the results also outlined a new target area just to the northwest of Iceman that is anomalous in the pathfinder element yttrium.

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