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A pre-feasibility study has shown the Mt Garnet tin project to be technically and economically viable, with the utilisation of existing Mt Garnet concentrator infrastructure. The Consolidated Tin Mines project, near Cairns in Northern Queensland, is on track to reach production by the end of 2014. The project area contains the Gillian, Pinnacles and Windermere projects, with a combined resource of 7.3 million tonnes grading 0.60 per cent tin. Consolidated Tin managing director and chairman Ralph De Lacey said the study “demonstrates the economics of a robust and significant tin project”. “Unlike other projects, Mt Garnet boasts existing infrastructure and near surface ore, which are the drivers of low capital and operating costs,” he said. “The has confirmed...

THE US state of Michigan could become one of the world’s leading sources of potash, following an investigation into an almost forgotten deposit by West Michigan University’s (WMU) Michigan Geological Repository for Research and Education. After testing geological drilling samples stored at the university, WMU stated that the deposit could herald the start of a new industry in Michigan worth as much as US$65 billion in the long term – surpassing the state’s historical oil and gas production revenues and triggering explosive job growth in Osceola and Mecosta counties. Potash – one of the major components of agricultural fertiliser – is currently only mined at three locations in the US. According to WMU, potash prices were climbing as supplies dwindled....

ADELAIDE-based Minotaur Exploration is reporting positive drill results from its inaugural Osborne copper-gold drill program as it looks to complete an off-market takeover for junior Breakaway Resources. The four-hole, 1240m diamond drill program tested for copper-gold mineralisation south of the Osborne copper-gold mine in the Cloncurry district of Queensland. Assay results from holes at the Brolga prospect recorded 0.39g per tonne of gold associated with quartz-pyrite veining, while results from the Wedgetail prospect included 1.65 per cent copper associated with sulphide-bearing breccia. Minotaur stated that the results confirmed widespread development of copper-gold mineralisation under cover across the region south of the Osborne mine, with numerous targets to be followed up across the project area. On 2 September it reported results...

DRILLING at Northern Minerals’ Browns Range heavy rare earths project has confirmed its “best ever” assay results. Northern Minerals reported that diamond drilling at the Wolverine prospect had found high grade mineralisation that extended westwards at depth, including 2.91 per cent at 29.1kg per tonne total rare earth oxides at 37m. The results confirmed estimates from a 4000m drilling program in August. Northern Minerals managing director George Bauk said the results would not be included in the next resource upgrade but they reinforced the project’s significant growth potential. “Wolverine just continues to deliver, and the fact that these results are some of the best we have ever received is very encouraging,” he said. “These intersections are outstanding in terms of...

SHARES in British miner Ariana Resources soared recently with the news that the company had identified high grade deposits at its flagship Red Rabbit gold project in western Turkey. The company discovered four high grade gold-silver zones in the Kepez and Karakavak section of the project, which returned grades of up to 383 grams per tonne of silver and 58g/t of gold. Ariana managing director Dr Kerim Sener said the current resource was based on only 6 per cent of the total veins mapped, allowing for significant exploration upside. “These exceptional exploration results reinforce our views on the prospectivity of the wider Kiziltepe area and continue to point towards future resource upside for our planned mine,” he said. “It is...

UP to $3.8 million has been secured by Fox Resources for exploration and development at its Queensland coal prospects. The money – raised through a share purchase arrangement with the Australian Special Opportunity Fund, LP and The Lind Partners – would also be used for additional working capital and corporate purposes. As part of the agreement, Fox would receive $350,000 upon execution in the form of a $300,000 convertible security, and $50,000 as repayment for fully paid ordinary shares. Lind would also invest up to $150,000 in monthly share subscriptions during the next two years. “The agreement with Lind will allow Fox to advance its exploration program with the hopes of unlocking significant value at its Bundaberg coking coal project,”...