Category: Exploration

BY REUBEN ADAMS   CORE Exploration believes fresh high-grade drill results have demonstrated “significant potential” to grow resources at the near-term Finniss lithium project in the Northern Territory.   The emerging lithium developer has embarked on aggressive drilling this year to grow the Finniss resource base ahead of a late-2018 Definitive Feasibility Study (DFS) and early 2019 Final Investment Decision. The Pre-Feasibility Study (PFS) confirmed Stage 1 of the Finniss Project, mining the high grade Grants deposit, would generate strong free cash flow; but with a mine life of just 26 months further resources were required to underpin a potential long-life operation. Latest results from the Carlton Prospect, 1km from Grants, included 16 metres at 1.79 per cent lithium oxide...

MORE than 2000 geoscientists will meet this October for the inaugural Australian Geoscience Council Convention in Adelaide. Elizabeth Fabri spoke with Australian Geoscience Council (AGC) president Dr Bill Shaw about the upcoming event, and how the industry can work together to “smooth out” the booms and busts in Australian mining.   Q. AGC will soon launch its first Australian Geoscience Council Convention. What prompted you to start the event?   The Australian Geoscience Council organised the very successful 34th International Geological Congress which was held in Brisbane in 2012. This event heralded the value and importance of getting as many geoscientists together as possible, to share our technical knowledge and work experiences. By having a large critical mass all engaging...

BY ELIZABETH FABRI   RIVERSGOLD, Minotaur Exploration, St George Mining, Emmerson, and DevEx Resources were just some of the companies to secure funding as part of the Government’s four year, $100 million Junior Minerals Exploration Incentive (JMEI).   The JMEI, successfully passed by the Senate in March, provides a tax incentive to invest in small exploration companies undertaking greenfields minerals exploration in Australia. It replaces the former Exploration Development Incentive (EDI), and allows mineral exploration companies (with no mining income) to raise capital, and renounce and pass future tax deductions to their Australian resident investors. 46 companies applied for their share in $31.5 million for the 2018/19 income year, up from 23 companies a year prior. Association of Mining and...

The upgraded 486,000oz Mt York deposit remains open in most directions, with potential to add further ounces both along strike and at depth. Image: Kairos Minerals.     BY REUBEN ADAMS   DRILLING at Kairos Minerals’ Pilbara gold project 100km south of Port Hedland has delivered a massive 290 per cent resource increase for the Mount York deposit resource to 486,000oz – with strong potential for further growth.   The updated indicated and inferred resource for Kairos’ Pilbara gold project, including Mt York, Iron Stirrup and Old Faithful, has been boosted by 150 per cent to 14.4 million tonnes at 1.3g/t gold for 643,000oz. Each of the deposits remain open both along strike and at depth, providing outstanding opportunities to...

BY ELIZABETH FABRI   ASX-listed Australian Mines has identified large-scale cobalt-in-soil anomalies at its Thackaringa project near Broken Hill, NSW.   Recent surface geochemical sampling at Target Area A uncovered three zones of elevated levels of cobalt that are reportedly similar to the Pyrite Hill and Big Hill prospects at Cobalt Blue’s identically named Thackaringa project. Australian Mines said with the anomalous zones partially buried by a shallow alluvial cover, surface expressions of cobalt mineralisation greater than 15ppm (grams per tonne) were considered significant. “This technique, for example, has been successfully used by Alloy Resources on its Ophara CobaltGold project directly to the west of the Australian Mines’ Thackaringa Project, as well as being the documented geochemical signature of the...

BY ELIZABETH FABRI   AUSTRALIA is no longer ranked the most attractive region for mining investment in the world after falling to second place in the 2017 Fraser Institute’s survey of mining and exploration companies.   According to the Fraser Institute, Canada was now ranked the most attractive region in the world for mining investment, with Finland rated the top jurisdiction. WA was the only Australian jurisdiction to appear in the global top 10, however it fell for the third consecutive year, dropping from first place in 2015, to third in 2016 and now fifth place in 2017 out of the 91 jurisdictions. QLD fell from 10th to 12th place, South Australia from 13th to 14th place, the Northern Territory...

BY ELIZABETH FABRI   AUSTRALIA’S third-largest gold producer Northern Star Resources will boost its exploration program after making multiple discoveries at and around its Jundee gold mine in WA.   As a result of the drilling success, Northern Star increased its FY18 exploration budget by $10 million to $45 million. It plans to accelerate a number of drilling programs to bring the recent discoveries into the Reserve category. The discoveries included high-grade finds at the Zodiac discovery and the Armada trend, 400m and 800m from the Jundee mine, respectively. Northern Star executive chairman Bill Beament said the results would change the way the 10 million ounce (moz) Jundee gold field was viewed.   “With production of 7moz over the past...

BY ELIZABETH FABRI   OZ Minerals continues to expand its exploration footprint after entering an agreement to explore for nickel and copper 500km east of its West Musgrave JV project in WA, which recently moved forward to pre-feasibility.   The joint venture in the Eastern Musgrave province in South Australia with unlisted Australian explorer Woomera Exploration will see OZ Minerals commit to drilling seven shallow targets. After drilling is complete, OZ Minerals can earn up to 51 per cent equity in the project by achieving a total spend of $2.5 million in exploration activity within 18 months, and a 75 per cent stake if an additional $5 million is spent on exploration in the following two years. OZ Minerals, which...