Proactive mining highlights: Arkle Resources, Tharisa, AEX Gold, W Resources…

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Arkle Resources PLC (LON:ARK) has discovered a new gold-bearing vein during recent trenching programme on the Tombreen target at the Mine River project in Ireland. “We are delighted with the discovery of a new gold-bearing vein in an area near our Tombreen target which has had little historic exploration,” said chairman John Teeling.

Bezant Resources PLC (LON:BZT) has confirmed copper mineralisation in the first two holes of its drill programme at the Hope copper-gold Project in Namibia. Both holes encountered the targeted copper zone, with a 6-metre zone of indicated copper mineralisation logged in hole GOD002 from 172 metres (m) to 178m depth.

IronRidge Resources Limited (LON:IRR) has shared what it describes as “very positive” metallurgical test results from the Ewoyaa Lithium Project in Ghana. Recovery improvements were achieved through re-crushing of an intermediate material called ‘middlings’ whilst maintaining concentrate grade.

AEX Gold Inc. (LON:AEXG) (CVE:AEX) has provided an update to its 2020 exploration drilling campaign at the Nalunaq property in South Greenland, saying the results are complementary to those reported in its news release of October 21, 2020. Drilling highlights from the Valley Block infill drilling programme included 52.4 grams per ton (g/t) gold over 0.55 meters (m) from hole AEX2008 and 5.9 g/t over 0.5m from hole AEX2009, with visible gold observed in AEX2009.

Galileo Resources PLC (LON:GLR) saw its shares rise on Monday as the firm issued a “very promising” exploration update on its’ 100% held property in the emerging Kalahari Copper Belt in western Botswana. The company said a preliminary the results from a Heliborne-EM geophysical surveying over several licences in its highly prospective Kalahari Copper Belt Project looks very promising with the EM data interpreted to show several highly prospective geological settings for copper-silver mineralisation.

Galileo Resources PLC (LON:GLR) was on the up on Wednesday again after inking a marketing agreement with Swiss trading company ZopCo concerning the potential sale of zinc willemite ore from its Star Zinc project in Zambia. 

Thor Mining PLC (LON:THR)(ASX:THR) has signed a non-binding term sheet for the acquisition of two additional licence areas adjacent to Ragged Range in the Pilbara region of Western Australia. The licences include areas over and surrounding historical small scale gold and copper mines. Thor now has a total of 213 square kilometres of ground either under licence or under application.

Power Metal Resources PLC (LON:POW) told investors in a statement before the market close on Tuesday that it has wrapped up its additional field programme at the Silver Peak project, in Canada, as harsh weather conditions drew in. The company said it squeezed additional exploration into the schedule after a summer due diligence programme saw bonanza gold grades, and it was able to obtain rock-chip samples and drill six shallow diamond drill holes.

Metal Tiger PLC (LON:MTR) shares climbed on Thursday on the back of updates from two of its ASX-listed investee companies, Cobre Limited and Southern Gold. Cobre, in which Metal Tiger owns a circa 18.8% interest, told investors the deal to acquire a larger portion of unlisted Kalahari Metals Ltd was expected to go to a shareholder vote early next year, which would give it a 51% stake in a company that owns roughly 8,100 sq km of tenements in a highly prospective area for copper.

Vast Resources PLC (LON:VAST) said it has completed the first delivery of concentrate produced from its Baita Plai polymetallic mine in Romania. The delivery follows an announcement on Monday when the company announced the acquisition of the remaining 20% interest in the mine following the passing of a resolution at a general meeting.

W Resources PLC (LON:WRES) has highlighted improved recoveries from its La Parrilla tungsten and tin project in Spain in the past month as a result of ongoing plant improvements at the site. The AIM-listed mining firm said its has achieved record recovery rates in November of 40% tungsten trioxide and 53% tin, while mine grades were “consistently exceeding” 1,050 parts per million tungsten and 350ppm tin, significantly greater than the preceding three quarters.

Bushveld Minerals Ltd (LON:BMN) produced 31% more vanadium in the third quarter of 2020 than the second, due to the lifting of the nationwide coronavirus (COVID-19) lockdown in South Africa. More significantly, vanadium production was 37% higher across the nine months to end September 2020 than it was in the corresponding period a year ago, as the Vanchem processing assets were included for the full period. Vanadium sales were also higher.

Tharisa PLC (LON:THS) said it is expected to boost earnings per share by 300% in upcoming results for the 12 months to end September 2020, due to be released shortly. The increase comes following operational improvements on all measured metrics at the company’s South African chrome and platinum operations, as announced in October.

Anglo Asian Mining PLC (LON:AAZ) said it is set to produce between 68,000 and 72,000 ounces of gold equivalent in the year to December 2020 from its operations in Azerbaijan. The number is lower than initial expectations, as a number of engineering staff were conscripted to participate in the recent conflict with Armenia.

Alien Metals Ltd (LON:UFO) has raised £2.5mln via an oversubscribed placing of shares at 1.1p per share. The group said the money raised will be used to extend and accelerate a range of exploration activities across the company’s portfolio, with immediate programs to be expanded in both Mexico and Western Australia.  

Empire Metals Ltd (LON:EEE) has raised £2mln by way of an oversubscribed placing of shares with new and existing shareholders at a price of 3.25p. The proceeds will be primarily used to exercise the company’s option to acquire a 75% interest in the Eclipse gold mining licence, to complete the work programme there and to continue to identify and secure additional assets.

Ariana Resources PLC (LON:AAU) generated revenues of US$11.4mln from the Kiziltepe gold mine in Turkey during the third quarter of 2020. The average realised gold price was US$1,915 per ounce, up significantly on the quarter, as well as on the corresponding period a year ago.

Galantas Gold Corp (LON:GAL) has reported a narrowed loss in the first nine months of its current financial year as it commenced shipments of concentrate from its Omagh project in Northern Ireland. In results for the nine months to September 30, 2020, the company reported a loss of C$102,733, narrowed from a C$186,818 loss in the previous year, while it ended the period with cash of C$638,433.

Kodal Minerals PLC (LON:KOD) made a £255,000 loss in the six months to September 30, 2020, down from the £339,000 loss it booked for the corresponding period a year earlier. Cash as at September 30, 2020, was £870,000. Cash as at October 31, 2020, was £1,316,000, following a further fundraise.   

Savannah Resources PLC (LON:SAV) announced that another step has been taken in the environmental impact assessment (EIA) process for its Mina do Barroso lithium project. The company has submitted additional and revised information in response to the anticipated request it received from Agência Portuguesa do Ambiente (APA), the Portuguese regulatory body.

Amur Minerals Corporation PLC (LON:AMC) said it now expects to submit its Russian TEO application for Kun-Manie in the first quarter of 2021 due to disruption caused by COVID-19-related remote working. A TEO is a mandatory Russian feasibility study and necessary before undertaking detailed engineering, procurement and construction studies as part of a Bankable Feasibility Study. 

Ncondezi Energy Ltd (LON:NCCL) said it has raised £750,000 from an oversubscribed and premium-priced share placing. The group is issuing 16.6mln new shares priced at 4.5p each, a premium price compared to the share’s 30-day weighted average price and the last equity raise in May 2020.

Emmerson PLC (LON:EML), the Moroccan focused potash development company, saw its shares rise on Thursday as it announced the launch of new corporate branding and an updated website.

 

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