International Mining Project News issue 251 – great project leads to follow

Notable news includes Kamoa project’s exploration team has initiated a 25,000-m, in-fill and exploration drilling program, using up to nine drill rigs, at the Kakula discovery on the Kamoa Copper Mining Licence Area. The Kamoa project, in the DRC’s Lualaba Province is a joint venture between Ivanhoe Mines and Zijin Mining. Simfer has submitted the mine and infrastructure bankable feasibility studies for the Simandou South iron ore project in Guinea. The BFS outline “the details around the development of both the worldclass iron ore mine and the multi-user and multi-usage infrastructure project. They are based on comprehensive analysis carried out over the past two years by Simfer, China Harbour Engineering Co (CHEC), China Railway Construction Corp (CRCC) and other international mining and construction contractors.”

Hecla Mining and Mines Management have announced a merger agreement with Hecla acquiring Mines Management. Following closing of the merger, Hecla intends to advance the evaluation program of Montanore. Located in northwest Montana, Montanore is considered one of the largest undeveloped silver and copper deposits in North America. The project is some 16 km from Hecla’s Rock Creek project and 80 km north of Hecla’s Lucky Friday Mine in Idaho.

MMC Norilsk Nickel, the world’s largest refined nickel and palladium producer, has hosted its annual strategy day. The management reported the main results of the completed strategies of 2013-2015 and set key goals and priorities for the next strategy cycle of 2016-2018.

The ‘Golden Triangle’ of northwest BC hosts multiple large and high-grade past-producing mines and deposits, several of which are approaching potential development. High-grade past-producing gold-silver mines include the Premier, Eskay Creek and Snip operations. Seabridge’s KSM project and Pretivm’s Valley of the Kings deposit host very large previous metal deposits in the same belt of rocks as Red Mountain.

Much more information is available in the issue – contact [email protected] for subscription details.

Prefeasibility studies include Rogue Resources Silicon Ridge project; Canadian Zinc Corp’s Prairie Creek lead, zinc, silver mine in the Northwest Territories, Canada and Metminco’s Miraflores gold project. International coal developer Balamara Resources is on track to publish an upgraded JORC Mineral Resource estimate for its flagship Sawin coal project in southeast Poland. There is Texas Mineral Resources’ polymetallic Round Top long-life deposit; Newmarket Gold’s Maud Creek gold project in the Northern Territory, Australia and NovaCopper’s Bornite project, Northwest Alaska. Focus Ventures has results for its NI 43-101 Updated PFS for its 70%-owned Bayovar 12 phosphate project in northern Peru. Condor Gold has completed a PFS and two PEAs on La India project in Nicaragua. Brazil Resources has the results of an NI 43-101 mineral resource estimate for the Raintree West deposit, one of several porphyry centres identified on the Whistler project, Alaska.

Santacruz Silver Mining has filed for the Veta Grande project located in Zacatecas, Mexico. FinnAust Mining has received initial analytical results of the ilmenite separated from the heavy mineral concentrate from the Pituffik titanium project in Greenland.

Still in the PFS section, Gold Standard Ventures Corp reports that reverse circulation (RC) and core drilling have begun on the Pinion and North Bullion deposits at its 100%-owned/controlled Railroad-Pinion project in Nevada’s Carlin Trend. Era Resources’ 2016 infill drilling campaign and a scoping study are underway at the company’s Yandera project in PNG. Bluebird Merchant Ventures announces an update on the Batangas gold project. In Russia, Highland Gold Mining has results from a JORC (2012) compliant mineral resource and ore reserve estimate for the Kekura project. Nevada Energy Metals has acquired 160 placer claims, with an area of 1,295 ha, located in northern Big Smokey Valley, Nye County, Nevada. In Indonesia, Asiamet Resources has filed a technical report supporting the independently prepared PEA study of the Beruang Kanan Main Zone. Sarama Resources has entered into an agreement with Orezone Gold Corp to acquire its Bondi gold deposit in Burkina Faso.

Centrex Metals has appointed Swiss based licensor and engineering firm Casale to complete a feasibility study for ammonia and nitric acid plants based at its Oxley potassium project (“Oxley”), located 125, km southeast of the Port of Geraldton in Western Australia. Cypress Development Corp has received assay results showing the feasibility of extracting lithium directly from the surface claystones without the need for roasting or other costly and complex treatments at the company’s Clayton Valley project located in Esmeralda County, State of Nevada, USA. Sulliden Mining Capital has a mineral resource estimate for the past-producing Troilus mine, located in the Abitibi mining region of Quebec, Canada.

Moving on to the feasibility stage, Crusader Resources has completed an internal optimisation review into a 2 Mt/y development for Stage 1 of the Borborema gold project. Pilbara Minerals advises that ongoing resource drilling being conducted along the Central and Western pegmatites at its 100%-owned Pilgangoora lithium-tantalum project near Port Hedland in Western Australia is continuing to deliver impressive results. Amur Minerals Corp, a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, reports on progress in working with Russia’s Far East and Baikal Region Development Fund. Peak Resources announces the successful commissioning of the leach recovery pilot plant at ANSTO’s Lucas Heights piloting facility for rare earths near Sydney. There is Euromax Resources’ Ilovica project in Macedonia.

Bacanora, the lithium company which is developing the Sonora lithium project in northern Mexico, has raised £7,702,500 for one of the larger lithium resources in the world. In Colmbia, Continental Gold is focused on advancing its high–grade Buriticá gold project to production. A new solar salt project is set to create jobs and stimulate local business in the Pilbara. K+S Group has announced initial plans to develop the Ashburton salt project, 40 km southwest of Onslow, Western Australia. Energia Minerals provides an update on its 100%-owned Gorno zinc project in northern Italy, where exploration continues to expand the potential of the flagship Colonna Zorzone deposit as well as the broader Gorno region.

Magnetite Mines has signed a non-exclusive Introduction and Consulting Agreement with MDS Financing Consultancy, working with its team based in Dalian, China for the purposes of expanding the company’s funding capabilities in China. Blackham Resources has gained a number of approvals for the Matilda gold project. KEFI Minerals, the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, has received formal confirmation from the Government of Ethiopia of its commitment to invest $20 million for equity in the Tulu Kapi gold project. Encanto Potash Corp announces a non-brokered private placement consisting of a non flow through and flow through financing, of up to C$2,700,000 for development of Encanto’s Muskowekwan property in Saskatchewan.

The Tulsequah project is a construction ready, permitted, high grade, polymetallic project with one of the lowest operating costs and camp scale exploration potential. Gold Road Resources is pioneering development of Australia’s newest found goldfield, the Yamarna Belt located 200 km east of Laverton in Western Australia. It holds interests in tenements covering approximately 5,000 km2 in the region, which is historically underexplored and highly prospective for gold mineralisation.

Orezone Gold Corp has received the formal and final approval by the Ministry of Environment, Green Economy and Climate Change for the Resettlement Action Plan and the Environmental and Social Impact Assessment with respect to its ongoing mining permit application for its wholly owned Bomboré gold project in Burkina Faso.

Seabridge Gold discusses the 2016 exploration program at the KSM project and, subject to completion of the company’s acquisition of SnipGold Corp, the Iskut Property of SnipGold in northwest British Columbia, Canada.

Carpathian Gold is focused on advancing its exploration and development plans on its 100% owned Rovina Valley Au-Cu project located in Romania. Altech Chemicals Ltd’s kaolin mining lease (ML) application M70/1334 at Meckering, Western Australia has been granted. Lupaka Gold Corp with Pandion Mine Finance has progressed to the preparation of definitive documentation phase for funding the Invicta gold project. Arafura Resources has submitted the Environmental Impact Statement (EIS) for the Nolans rare earths project.

Archer’s Leigh Creek project is located approximately 10 km northwest of the Leigh Creek Coalfield and the company is considering both rail and road transport solutions for the transport of magnesite ore from Leigh Creek. Patagonia Gold plans to construct a new mine at Cap-Oeste this year to replace production from Lomada, which has reached the end of its life. Ormonde Mining reports the results of the recently completed drilling program at the Barruecopardo tungsten project in Salamanca, Spain.

Ucore Rare Metals updates on the continuing performance of the SuperLig®-One rare earth element (REE) separation pilot plant. Pregnant leach solution (PLS) derived from the company’s Bokan-Dotson Ridge project in Alaska has been treated by the SuperLig-One Molecular Recognition Technology (MRT) plant, at the IBC Advanced Technologies, Utah facility, to separate the scandium (Sc) contained therein from the group of REE previously separated from the impurity metals in the PLS.

Coro Mining Corp is well funded to continue the development of its exciting Marimaca project, and the growth of the SCM Berta operations. Diamcor Mining reports the advancement of the Krone-Endora at Venetia diamond project is progressing as planned. In Russia, Eurasia Mining (PGM and gold) has executed an agreement with a Russian company, OOO SK Region-Story (SKRS), under which SKRS will commence contract mining at Eurasia’s West Kytlim alluvial platinum deposit in the Urals. In Senegal Avenira reports good progress at the Baobab phosphate project which remains on schedule for second half production.

Roxgold has poured first gold at the Yaramoko gold project located in the Houndé greenstone region of Burkina Faso. CuDeco Ltd reports on commissioning activities at its flagship Rocklands Group copper project in Cloncurry, northwest Queensland. Premier African Minerals provides an update on progress at RHA tungsten project.

Galaxy Resources reports activity at Mt Cattlin continues to progress with first tantalum production achieved on 16 May 2016, fed from existing crushed ore stockpiles. Bayhorse Silver has reached an Agreement with GreenHawk™ Global Corp to install a closed-loop mine water treatment pilot plant using the patented SOLO™ processing system at the Bayhorse silver mine near Ontario, Oregon, where underground work is ongoing.

Lucapa Diamond Co will invest A$7 million in the coming months to upgrade its Lulo diamond mine in Angola, which has yielded major gems in the past six months. Lulo is located 150 km from Alrosa’s Catoca mine, the world’s fourth largest diamond mine and about 700 km east of the capital Luanda. Dominion Diamond Corp reports that the Minister of Lands of the Government of the Northwest Territories has accepted the recommendations of the Mackenzie Valley Environmental Impact Review Board, that the Jay project be approved.

James McDonald, President and CEO, has sent a letter to Kootenay Silver shareholders updating them on two recent milestone developments “that have ushered in an exciting new era of silver consolidation in Mexico and potential future mining development for Kootenay Silver.

Goldgroup Mining has consented to the restructuring and sale by Monarch Gold Corp of substantially all of its assets and operations to Cascadia Goldfields Co in Mexico. Northern Vertex Mining and Patriot Gold Corp have signed a binding agreement whereby Northern Vertex will purchase Patriot Gold’s remaining 30% working interest in the Moss gold/silver mine.

GoviEx Uranium and Denison Mines Corp provide an update on the status of the previously announced transaction whereby GoviEx will acquire Denison’s wholly owned subsidiary, Rockgate Capital Corp, which holds all of Denison’s Africa-based uranium interests.

In China, Eldorado Gold Corp has reached an agreement to sell its interest in the Jinfeng mine, and has reached an agreement to sell its respective interest in the White Mountain and Tanjianshan mines and the Eastern Dragon development project. Silver Standard Resources and Claude Resources have received the required shareholder approvals for the previously announced Plan of Arrangement.

Kodal Minerals has completed its acquisition of 100% of International Goldfields (Bermuda) Ltd (IGS), which controls a portfolio of highly prospective gold properties in Côte d’Ivoire and Mali. Indico Resources has entered into a letter of intent with Aruntani S.A.C. pursuant to which it will sell to Aruntani all of the shares of Indico Peru, a wholly owned subsidiary of the company, which has an irrevocable option to acquire all of the shares in the capital of Inversiones Minerales, an entity holding a series of concessions in Peru.

IMX Resources Ltd advises that the full A$7 million under the Graphex Mining Ltd IPO has been received. The IPO was managed jointly by Palladion Partners and RM Corporate Finance.

Kincora Copper Ltd has reached agreement providing for the merger of two Kincora subsidiaries with Ibex Land Mongolia and Ibex Mongolia, entities indirectly controlled by High Power Exploration (HPX). The transaction will result in a consolidated landholding of over 1,500 km2, the majority of the prospective exploration licenses which dominate a key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga copper mines, supporting an industry leading proposition of copper/gold and gold targets.

Rye Patch Gold is acquiring 100% ownership of the Florida Canyon gold mine (with the Standard gold mine) located in Pershing County, Nevada.