Okapi Resources has claimed a major discovery at the Enmore gold project in NSW’s emerging New England Fold Belt, striking more than 170m of continuous high tenor gold mineralisation in a single drill hole.
Okapi Resources (ASX:OKR) entered a trading halt this morning and the results from the maiden drill drive at the gold prospect 30km south of Armidale were well worth the wait for investors.
Hole OSSRC06 struck an incredible 174m at 1.83g/t of gold from surface at the Sunnyside East target, with grades appearing to increase significantly at depth.
For context, that is a stretch longer than the AFL Grand Final pitch at Optus Stadium from goal to goal, lit up with economic grade gold.
And mineralisation remains open both at depth and along strike, with Okapi openly discussing the prospect of holding a large and shallow open pittable resource at Enmore.
Intervals within hole OSSRC06 included 100m at 2.34g/t from 59m, which in turn included 31m at 3.05g/t.
The end of the discovery hole was its richest, with grades of 3m at 8.86g/t from 171m and 1m at 15.15g/t at 172m deep.
“These results show the potential for a very large, shallow, high-grade gold deposit at our Enmore Gold Project, with mineralisation from surface with some of the highest grades returned below 170m,” Okapi executive director David Nour said.
“The depth potential is very encouraging and we have multiple prospects that remain untested”.
There were top quality results in holes OSSRC01 and OSSRC02 at Sunnyside East also of 37m at 1.27g/t gold from 27m, including 3m at 3.12g/t from 53m and 39m at 1.19g/t of gold from 51m in hole OSSRC02, including an interval of 12m at 2.10g/t from 70m.
Enmore historically underexplored
It is not surprising to find significant gold mineralisation at Enmore, given the project is located just 20km south of Red River Resources’ Hillgrove gold mine, which has historically produced around 730,000oz.
What was surprising was how little the ground had been tested before Okapi started its maiden campaign back in June.
Gold was discovered by the old timers back in 1876 at Enmore and operated on and off until 1940, but most exploration since has been shallow, with around 200 holes up to a depth of 50m and few deeper ones completed before Okapi sewed up the ground in a deal last December.
There is a catalogue of 39 identified prospects there, the majority of which are untested with deep drilling, and limited to no modern geophysics or other targeting methods have been applied across the project.
The gold mineralisation at Enmore is believed to be controlled by the same northwest cutting structures as the gold found at Hillgrove.
The current program included just 10 drill holes for 1,257m across three prospects, at Sunnyside East, Sunnyside West and Bora, with all holes encountering significant results.
Sunnyside West returns economic gold hits as well
Results from Sunnyside West and Bora were not as startling as the mammoth hit at Sunnyside East, but still returned interesting results to follow up in further exploration.
Significant mineralisation has now been uncovered in the 400m corridor between Sunnyside East and West, with a best result at Sunnyside West of 7m at 1.25g/t of gold from 30m, including 1m at 5.61g/t of gold from 36m in OSSRC07.
Hole OSSRC08 hit 17m at 0.69g/t from 20m, including 7m at 1.10g/t at the start of the mineralised interval. Further exploration will focus on the potential to identify high grade shoots associated with cross-cutting structures.
Two holes were also drilled at Bora, 4km west of Sunnyside, targeting a small historic gold mine.
Drilling intersected several siliceous veins in the host rock, with best results of 3m at 0.51g/t gold from 53m and 2m at 0.52g/t gold from 69m in OBARC01 and 2m at 0.58g/t gold from 67m in hole OBARC02.
The major discovery adds another string to Okapi’s bow.
The company owns the 26Mlb Tallahassee uranium project in the United States, and has enjoyed a 206% rise in its share price over the past six months, largely made since July amidst a renaissance for uranium stocks globally.
While Okapi says its primary focus is on its uranium assets in the States, the explorer is planning a follow up exploration program to generate a maiden JORC resource at Enmore.
This article was developed in collaboration with Okapi 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 Okapi Resources makes major gold discovery at Enmore in New South Wales appeared first on Stockhead.asx gold uranium
Toshiba, Sojitz and CBMM partner to commercialize next-generation Li-ion batteries with NTO anodes
Toshiba Corporation, Sojitz Corporation, and CBMM have entered into a joint development agreement for the commercialization of next generation lithium-ion…
Toshiba Corporation, Sojitz Corporation, and CBMM have entered into a joint development agreement for the commercialization of next generation lithium-ion batteries using niobium titanium oxide (NTO) as the anode material.
One of the major requirements for rechargeable battery development is greater energy density and faster charging. NTO has twice the theoretical volume density of the graphite-based anode generally used in lithium-ion batteries. In June 2018, the three companies entered into a joint agreement to develop NTO’s potential as an anode material.
This work, led by Toshiba’s Corporate Research & Development Center, has reached fruition with the development of prototype cells, and the companies have now agreed to extend collaboration for accelerating development of mass production processes and the early commercialization of next-generation lithium-ion batteries.
Prototype cell & Niobium Titanium Oxide (NTO)
The three companies aim to commercialize high energy density, quick charging batteries in FY2023, mainly targeting application in commercial e-vehicles. CBMM has contracted with Volkswagen Caminhões e Ônibus, a pioneer in the development and serial production of electric trucks in Latin America, to mature this technology further in real application. Toshiba and Sojitz will support this project.
The NTO battery will be installed on new electric vehicle designed by Volkswagen Caminhões e Ônibus as a pilot project and parties will collect the valuable vehicle operation data.
Niobium (Nb), one of the metallic elements, is an important additive in the production of high-grade steel alloys, including high-tensile and stainless steel, and its ability to enhance strength while reducing weight has made it indispensable for automotive applications. Brazil-based CBMM is the world’s leading producer of niobium and is well-known for its strong technology and product development programs.
As CBMM’s shareholder and distribution agent in the Japanese market, Sojitz has cultivated the knowledge and capabilities needed to establish a stable supply system and assist in the development of different applications for niobium.
Towards commercialization, Toshiba aims to secure stable supply of niobium materials from CBMM and Sojitz, and the three companies will target to gain market share in the rapidly expanding secondary battery market by utilizing CBMM and Sojitz’s global network.
Your cash will lose at least 5% of its purchasing power in the next year
Earlier this week, Fed Chair Jerome Powell announced that the real yield on dollar cash and cash equivalents is likely to be -5% or less over the next…
Earlier this week, Fed Chair Jerome Powell announced that the real yield on dollar cash and cash equivalents is likely to be -5% or less over the next 12 months. Yes, your cash balances will lose at least 5% of their purchasing power over the next year, and that's virtually guaranteed. So what are you—and others—going to do about it?
Assumptions: This forecast of mine optimistically assumes that 1) the first Fed rate hike of 25 bps comes, as the market now expects, about a year from now, and 2) the rate of inflation slows over the next 12 months to 5% from its year-to-date rate of 5.9%. Personally, I think inflation next year likely will be higher, if only because of the delayed effect of soaring home prices on Owner's Equivalent Rent (about one-third of the CPI), the recent end of the eviction moratorium on rents, and the continued, unprecedented expansion of the M2 money supply.
I'm a supply-sider, and that means I believe in the power of incentives. Tax something less and you will get more of it. Tax something more and you will get less of it. Erode the value of the dollar at a 5% annual rate and people will almost certainly want to hold fewer dollars than they do today.
I'm also a monetarist, and that means I believe that if the supply of dollars (e.g., M2) increases by more than the demand for dollars, higher inflation will be the result. We've already seen this play out over the past year: the M2 money supply has grown by more than 25% (by far an all-time record) and inflation has accelerated from less than 2% to 6-8%. Massive fiscal deficits have played an important role in this, but so has an accommodative Fed. Between the Fed and the banking system, 3 to 4 trillion dollars of extra cash were created over the past 18 months. At first that was necessary to supply the huge demand for cash the followed in the wake of the Covid shutdowns. But now that things are returning to normal, people don't need or want that much cash. Yet the Fed continues to expand its balance sheet, and they won't finish "tapering" their purchases of notes and bonds until the middle of next year. That means that there will be trillions of dollars of cash sitting in retail bank accounts (checking, demand deposits and savings accounts) that people will be trying to unload.
If we're lucky, the inept and feckless Biden administration will be unable to pass its $1.5 trillion infrastructure and $3.5 trillion reconciliation bills in the next several weeks. This will lessen the pressure on the Fed to remain accommodative, but it's not clear at all whether it will encourage the Fed to reverse course before we have a huge inflation problem on our hands. Non-supply-siders (like Powell) view an additional $5 trillion of deficit-financed spending as an unalloyed stimulus for the economy. Supply-siders view it as a virtually guaranteed way to increase government control over the economy and thereby destroy growth incentives and productivity.
Amidst all this potential gloom, there are some very encouraging signs, believe it or not. Chief among them: household net worth has soared to a new high in nominal, real, and per capita terms. Also, believe it or not, the soaring federal debt has not outpaced the rise in the wealth of the private sector. See the following charts for more details:
Commodities and Cryptos: Oil’s path higher, Gold turns positive, China’s Bitcoin blow
Oil Crude prices continue to climb higher as both short-term supply and demand fundamentals suggest the oil market will remain tight throughout the winter. …
Crude prices continue to climb higher as both short-term supply and demand fundamentals suggest the oil market will remain tight throughout the winter. The crude demand outlook is turning very upbeat as some scientist’s models predict a steady decline in COVID cases through March. Holiday bookings will continue to pick up, supporting jet fuel demand and a trucking demand crisis will likely mean diesel demand will remain very strong.
A cherry on top for the bullish outlook is that low natural gas inventories and a cold winter for the northern hemisphere could mean added demand for crude as an alternative energy source. Today’s rally in crude prices is impressive as it has been a steady climb higher this week, alongside a strengthening dollar that normally dampens appeal for commodities. Oil prices have one direction to go for the remainder of the year and that is higher.
Before the New York open, WTI crude softened after Iranian Foreign Minister Hossein Amirabdollahian said Iran nuclear deal talks will resume soon. Expectations for sanction relief for Iran have diminished since Iran’s inauguration day. Negotiations will be a long drawn-out process that will likely require compliance before the US gives any sanction relief. Extra Iranian barrels of crude seem unlikely to be a 2021 story.
Gold prices turned positive after Evergrande’s woes extended beyond China. US Evergrande investors reportedly have not yet received interest payments and the China Evergrande New Energy Vehicle Group Ltd has a serious shortage of funds. It looks like China won’t save Evergrande but will try to contain any systemic risks, which should lead to some safe-haven flows for bullion.
Gold has been battling against a stronger dollar that stemmed from surging Treasury yields post-Fed. Gold is in a very tough spot and volatility will remain elevated with the risks remaining to the downside. The US growth story will continue to improve if COVID modelers are right about a steady decline in COVID cases through March. If Evergrande’s fallout is contained over the weekend, gold could be vulnerable for a test of the $1700 level.
Bitcoin was dealt a major blow after China’s central bank said all cryptocurrency transactions are illegal and must be banned. Bitcoin initially fell over 5% and the other top coins dropped around 10%. Overseas exchanges that offer Chinese residents services are illegal, also taking aim at Chinese nationals who work at those exchanges are at risk of an investigation. Bitcoin, Ethereum, and Tether were specifically named as cryptos that can’t circulate in China.
Beijing withheld banning possession of cryptocurrencies, which would have dealt a massive blow to the entire crypto space. A banning of possession of cryptos probably would have sent everything crypto 20% lower. If you are a Chinese crypto holder, you might be deciding now is the time to cash out. Three years ago, crypto was heavily centralized in China, with over two-thirds of the mining happening there. If Chinese crypto holders fear a ‘possession ban’ is looming, a tremendous amount of selling from old wallets may occur.
Bitcoin remains extremely vulnerable on the break of the $38,000 level, which could trigger momentum selling to the $35,000 level.aim gold
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