Western Gold Exploration Ltd (WGE) plans geophysical surveys on the Lorne porphyry district in Argyll following completion of its 2023-2024 drilling campaign. MINERALISATION The programme revealed a new copper-gold prophyry centre at the Ardlochan target and extended porphyry mineralisation > 800m westwards at the Lagalochan prospect. Both prospects lie on the Lorne Fault Zone and […]
Tag: gold
Red Rock raises £260,000 via placing
Red Rock Resources plc has raised £260,000.04 before expenses via a placing of 509,804,000 new ordinary shares in the company at 0.051 pence per share. Following admission, the company’s issued ordinary share capital will comprise 4,058,050,811 ordinary shares, each with voting rights. Proceeds will be used to bring Red Rock’s gold assets in Burkina Faso to […]
Fulcrum signs Sylvanite gold tailings option
Fulcrum Metals plc has signed an option to purchase the gold tailings project at the former producing Sylvanite mine in Ontario. RETURNS The acquisition lies 3km from the company’s Tech-Hughes gold tailings project, acquired in November 2023. Between 1927 and 1961 Sylvanite milled 4.58 million tonnes of ore and produced 1.67m oz. Fulcrum investor Panther […]
FCM signs 30-day exclusive deal for Kerrs gold
First Class Metals plc has signed a 30-day exclusivity agreement for a 100% earn-in to the Kerrs gold property in the Larder Lake mining division, northeastern Ontario. STRATEGIC The company, currently finalising commercial terms with the Canadian vendor, said that the project held a “historic resource estimate of 386,467oz gold as per the NI-43-101 standard”. If the […]
Altona diversifies into Zambia metals-diamonds
Altona Rare Earths plc has diversified its portfolio with an agreement to acquire the 616 km2 metals and diamond Kabompo South project in Northwestern Province of Zambia. EXCLUSIVITY The deal with Sustineri Group Ltd and with the beneficial owners of Phelps Dodge Mining (Zambia) Ltd is for the entire issued share capital of Phelps Dodge, holder […]
Kouroussa production delayed by disputes
Hummingbird Resources plc warned of delayed commercial production at its Kouroussa mine where operations are still on hold following disputes with its mining contractor. BLASTING Corica Mining Services stopped work on 17 March at the Guinea mine in a dispute over contracts including pay. Hummingbird today said it had been in discussions with Corica, alternative […]