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Azure scores early win as Andover reveals premium nickel, copper concentrates

Special Report: Azure has ticked off another milestone after initial metallurgical testwork of ore from its Andover project recovered up … Read More
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Azure has ticked off another milestone after initial metallurgical testwork of ore from its Andover project recovered up to 93.5% nickel and 94.7% copper.

That this result was achieved using conventional sulphide flotation is an indication that future development would be relatively straightforward.

Azure Minerals (ASX:AZS) has also produced separate marketable high-grade nickel and copper concentrates using selective flotation as well as an internationally marketable bulk concentrate with a combined grade of 12.4% nickel and copper.

Notably, the various concentrates contained very low levels of deleterious elements, which further enhance their attractiveness to potential buyers.

“These very positive results from the Stage 1 testwork program indicate that we will be able to produce high quality, high grade, clean concentrates with excellent recoveries and I am confident that further optimisation studies will continue to deliver additional improvements,” managing director Tony Rovira said.

“Metallurgical factors and results play a critical role in evaluating project viability, and to have produced marketable nickel and copper concentrates using a relatively simple and robust industry-standard flow sheet, at such an early stage, bodes well for the project as we move through the development studies process.”

Flotation testwork

The testwork was completed on a composite sample containing sulphide mineralisation and internal waste material sourced from drill holes ANDD0004 and ANDD0014.

This sample had a head grade of 1.2% nickel, 0.58% copper and 0.05% cobalt and is considered to be representative of the grade and physical characteristics of the mineralisation at the VC-07 East deposit.

Concentrates produced from the work include a nickel+cobalt concentrate with 15.7% nickel and 0.57% cobalt; a 25.5% copper concentrate; and the bulk concentrate with 8% nickel, 4.4% copper and 0.3% cobalt.

Promising results given that the company’s ongoing work at VC-07 East has expanded the size of the deposit to more than 400m in strike and extending from 50m below surface to more than 500m depth while remaining open for expansion along strike to the west and down-dip.

Nickel (left) and copper concentrates. Pic: Supplied

Future work

With the first stage of metallurgical testwork completed, Azure plans to start the second phase in the fourth quarter of 2021 and first quarter of 2022.

This work will focus on assessing flotation response to variability of the orebody across different geological domains; optimising recovery of copper into the concentrate; and reducing the amount of nickel reporting to the copper concentrate.

Work will also be used to refine the reagent regime for each of the proposed flowsheets while locked cycle testwork will be carried out to assess recovery in a closed flowsheet.

 


 

 

This article was developed in collaboration with Azure Minerals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Azure scores early win as Andover reveals premium nickel, copper concentrates appeared first on Stockhead.

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Fe Ltd farms into advanced copper-gold asset, eyes near term production

Special Report: Fe Limited will secure the controlling interest in a mature NT copper-gold project, with the initial focus to … Read More
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Fe Limited will secure the controlling interest in a mature NT copper-gold project, with the initial focus to be an “early cashflow opportunity” at the ‘Orlando’ open pit.

Fe Limited (ASX: FEL) has inked a binding deal to acquire a 60% interest in the exploration assets of Gecko Mining Company (GMC) in the highly prospective Tennant Creek region of the Northern Territory in a cash and share deal.

FEL will also pay the first $10m of JV expenses incurred.

This package covers ~ 240 km2 in the highly prospective, high-grade Gecko – Goanna copper gold corridor which has historically produced more than 5.5 million ounces of gold @19.3 g/t and 488kt copper at 2.9%.

The Tennant Creek project is composed of three high grade copper and gold mineral resources — Orlando, Gecko and Goanna –historically defined under the JORC 2004 code.

While these numbers will have to be verified to bump it up to JORC 2012 standard, in FEL’s view there is no reason the existing historic resource estimates – totalling 122,000t copper and 145,000oz gold – would not be reliable.

Near term copper gold production

Potential for near term production exists from a cut back of the Orlando pit prior to underground development, initially at Orlando, followed by the Gecko and Goanna underground projects.

There are several options available for third party processing, the company says, which would lower initial capex costs.

Importantly, previous internal conceptual studies have shown positive economics based on lower pricing assumptions to current assumed commodity spot prices.

In the current and forecast pricing environment with commodity prices firming considerably since those studies, the company believes the Tennant Creek project offers a significant opportunity to enter the battery and precious metals space.

Big exploration upside

These initial resources are just the start.

Several advanced copper-gold targets have already been identified within the mineralised Gecko – Goanna corridor, in addition to down dip and along strike extensions to existing resources.

The figure below shows the Gecko – Goanna corridor with unmined targets against mined ore bodies:

FEL anticipates additional drilling will be required along strike and down dip to validate the existing data as well as define the extent of mineralisation prior to estimation.

FEL intends to conduct this follow up drilling after assessment and development (if applicable) of early production operations at Orlando for cash flow generation in the short term.

“Mature copper / gold assets are hard to find in today’s market given the attractive thematic for those commodities, particularly for copper with its connection into the battery metals space,” FEL exec chairman Tony Sage says.

“The work that’s been done by since on the GMC ground since the project was acquired from Evolution Mining Ltd in 2020 has identified some interesting opportunities for us to evaluate with the potential to fast-track production.

“We are pleased to identify this opportunity to diversify our commodity exposure to supplement our high-grade iron ore at Wiluna and our other NT iron ore project Yarram, which is located just over 100km from Darwin port, which presents the opportunity for it to host a low-cost operation.”


 

 

This article was developed in collaboration with Fe Ltd, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Fe Ltd farms into advanced copper-gold asset, eyes near term production appeared first on Stockhead.

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Drilling kicks off and uranium analysis planned at Benmara battery metals project

Special Report: Resolution Minerals has started drilling at its Benmara battery metals project in the Northern Territory. … Read More
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Resolution Minerals has started drilling at its Benmara battery metals project in the Northern Territory.

The 2,500m RC drilling program is focused on the highest priority targets of 4km and 2km strike length derived from a VTEM survey – and new Geoscience Australia research which identified prospective rock types previously mis-mapped.

The large-scale targets are prospective for sediment hosted battery metals including copper, silver, lead, zinc, and cobalt.

Plus, the targets are on the margin of the South Nicholson Basin and Murphy Inlier on the Fish River fault which is analogous and along strike from Aeon Metal’s (ASX:AML) polymetallic Walford Creek deposits (40 million tonnes at 2% copper equivalent).

It presents the company with strong exposure to the strengthening demand for battery metals – and a tightening market for copper.

And because the targets have no prior drilling, Resolution Minerals (ASX:RML) is confident this underpins the potential to rerate on any discovery made.

 

Fully funded to ramp up exploration

Resolution is fully funded to complete the drilling with existing cash following a recent $1.7 million placement.

“We are very excited to announce drilling has started on our maiden drill program at the under-explored Benmara Battery Metals Project in the Northern Territory,” managing director Duncan Chessell said.

“The program follows up large scale targets derived from our recent VTEM geophysics survey for sediment hosted stratiform copper and other battery metals.

“With virtually no prior drilling conducted into these large-scale targets, we look forward to the results of this exciting opportunity and accelerating exploration.”

The drilling will take three weeks to complete, with assays expected in early November.

Pic: The company holds the Wollogorang and Benmara copper-cobalt-uranium projects in the NT, which includes the Stanton cobalt deposit.

Assessing uranium upside off the back of strong prices

The area surrounding Benmara is also highly prospective for uranium, with the 51.9-million-pound Westmoreland Uranium deposit nearby.

Additional uranium occurrences have also been mapped within 2km of the Benmara tenement boundaries.

And with rising uranium spot prices close to US$50/lb – a nine-year high – it puts the company in a good position to assess the uranium potential of the project.

 

Wollogorang project potential

Then there’s the company’s Wollogorang project in the McArthur Basin in the NT, which is prospective for sedimentary hosted battery metals: copper, cobalt, and hard rock uranium.

There’s proven mineralisation within the Stanton cobalt deposit of 942,000 tonnes at 0.13% cobalt, 0.06% nickel, 0.12% copper.

And a VTEM survey highlighted the sediment hosted copper potential, identifying 40 conductors.

Plus, drill targets at the Gregjo copper prospect are set to test a chargeable IP geophysical anomaly underlying copper mineralisation intersected in shallow RAB drilling of up to 4% copper.

The project is subject to a $5 million farm-in agreement with OZ Minerals (ASX:OZL) to earn 51% interest, after which the company can retain 49% by participating.

Or at Resolution’s election, OZ has the option to earn 75% interest by sole funding to a final positive decision to mine, with Resolution appointed as operator.

 

 

Resolution Minerals share price today:


This article was developed in collaboration with Fresh Equities, a Stockhead advertiser at the time of publishing.

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

The post Drilling kicks off and uranium analysis planned at Benmara battery metals project appeared first on Stockhead.

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Bryah nabs strategic exploration ground around namesake project

Special Report: Bryah Resources has expanded its footprint in WA, securing three exploration licences covering 50 km2 around its existing … Read More
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Bryah Resources has expanded its footprint in WA, securing three exploration licences covering 50 km2 around its existing land holding in the Bryah and Padbury Basins.

The Bryah Basin hosts the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources (ASX:SFR) in 2009, and at Horseshoe Lights, which was mined until 1994.

It also hosts several historical and current manganese mines including the company’s Horseshoe South mine.

Bryah Resources’ (ASX:BYH) is confident that the new tenements – E52/3848, E52/3898 and E52/3963 – cover prospective and under-explored areas which have gold, copper-gold and manganese exploration potential.

The tenements were acquired for 4 million ordinary shares at an issue price of $0.055/share.

Tenure right next to historic gold mine

The largest tenement (E52/3898) covers exploration ground adjacent to the historic Wilthorpe shallow open cut gold mine.

The mine straddles the boundary of new tenement E52/3898 and an adjacent E52/2059, held by Westgold Resources (ASX:WGX).

It was mined by Dominion Mining from 1993-94, producing 4,650 ounces of gold from 72,817 tonnes of ore grading 2.0 g/t gold.

And there has been limited gold exploration since.

Based on the reported mineral occurrences, Bryah considers the tenement package highly prospective for copper, gold, and manganese.

Pic: Tenement location plan

Exploration planning underway

The company will shortly commence a thorough desktop review of all historical exploration reports as well as its own extensive database.

The data review will support a detailed phase of exploration planning, ahead of ground exploration activities.

In the meantime, reverse circulation drilling is underway at Bryah’s manganese JV, in a 2000m program fully funded by partner OM Holdings.

 


 

 

This article was developed in collaboration with Bryah Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

The post Bryah nabs strategic exploration ground around namesake project appeared first on Stockhead.

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