Power Metal Resources plc announced the start of ground reconnaisance at its gold-copper interests in the Wallal project in the Paterson Province, Western Australia. DRILL LOCATIONS The company’s assets are held through through First Development Resources Ltd (FDR). The Wallal project, comprising E45/5816, E45/5853 and E45/5880, is one of FDR’s three Paterson region projects. A reconnaissance team will survey and […]
Tag: precious metals
Alba to start phase II sampling at Clogau waste dump
Alba Mineral Resources plc is due to start follow-up pitting and sampling in the historic waste rock dump at Clogau-St David’s gold mine, North Wales. ASSAYS Following an initial sampling exercise in 2021, which returned gold grades of up to 9.89 g/t, the company will focus on higher grade zones. Alba has received clearance for the […]
Hummingbird assesses impact of sanctions on Mali
Hummingbird Resources plc said it was assessing risks to its supply chain and business in Mali following sanctions imposed on the country. RESTRICTIONS The company owns the Yanfolila open pit gold mine in southern Mali, which poured first gold in December 2017. The Economic Community of West African States (ECOWAS) imposed sanctions in response to […]
Scotgold to extend Cononish mine life and aim for mid-tier status
Scotgold Resources Ltd recorded an increase in pre-tax losses but aims to develop Cononish mine into an 18-year operation and build a mid-tier mining company in Scotland. FINANCES In its results for the year ended 30 June 2021, the Australian-owned company recorded pre-tax losses of $4,980,942 (June 2020: $2,504,134) with revenue of £299,807. COMPELLING ECONOMICS […]
Altus acquires gold royalties from Newcrest
Altus Strategies plc has completed the first close of a gold royalty portfolio of interests in Australia and Africa. STRATEGIC JOINT VENTURE The package comprises up to 24 royalties and royalty interests from Newcrest Mining Ltd and certain of its group companies. The acquisition is through a strategic joint venture between Altus and specialist mining […]
Oriole reports best phase II drill results at Bibemi
Oriole Resources plc released further results from the recently completed Phase II diamond drill programme at Bakassi Zone 1 on its 90%-owned Bibemi gold project in Cameroon. RESULTS The company completed Phase II drilling for 1,650.70m in 11 holes to test a 1km portion of Bakassi Zone 1, to infill previously reported mineralised zones identified […]