Home » Posts tagged 'global'
Tag Archives: global
#SVML Sovereign Metals LTD – Hydraulic Mining Trial Commences
HYDRAULIC MINING TRIAL COMMENCES
· Hydraulic mining trial has now commenced at Kasiya Pilot Site as part of ongoing Optimisation Study
· Trial is being conducted by Fraser Alexander, a global industry leader in hydraulic mining, following successful completion of dry mining trial in July 2024
· Hydraulic mining trial is expected to take approximately three months to complete and includes backfilling of main trial pit, deposition and rehabilitation testwork
· Previous testwork suggests soft, friable nature of Kasiya orebody should be suitable for hydraulic mining
· Pilot Phase continues to progress with oversight from Sovereign-Rio Tinto Technical Committee
· Rio Tinto has elected to increase its shareholding to 19.9% via an additional investment of A$0.7 million in Sovereign
Figure 1: Hydraulic mined material (slurry) flows freely to the collection point in the bottom of the sump.
Sovereign Metals Limited (ASX: SVM; AIM: SVML; OTCQX: SVMLF) (Sovereign or the Company) is pleased to announce the commencement of a hydraulic mining trial at its Kasiya Rutile-Graphite Project (Kasiya or Project) in Malawi as part of the ongoing Pilot Mining and Land Rehabilitation Program (Pilot Phase). The hydraulic mining trial aims to further develop previous testwork as part of the Kasiya Optimisation Study.
Managing Director and CEO, Frank Eagar commented: “With valuable insights gained from the dry-mining approach at Kasiya, we are now entering the next phase, which includes the commencement of the hydraulic mining tests, processing and backfilling material, and progressing towards the rehabilitation phase, which we expect to take three months to complete. Results from the Pilot Phase, in particular the analysis of dry-mining versus hydraulic mining, will be fundamental for the ongoing Optimisation Study.”
Classification 2.2: This announcement includes Inside Information
RIO TINTO TO INCREASE ITS SHARHOLDING TO 19.9%
On 17 July 2023, the Company announced that Rio Tinto Mining and Exploration Limited (Rio Tinto) had made an investment of $40.4 million in the Company through the issue of 83,095,592 fully paid ordinary shares (Shares) and 34,549,598 unlisted Options (Rio Tinto Options).
On 3 July 2024, the Company announced that Rio Tinto had exercised the Rio Tinto Options and the Company subsequently issued 34,549,598 Shares to Rio Tinto to raise an additional $18.5 million (before costs).
Rio Tinto has advised the Company that it has elected to make an additional investment of A$690,360 in Sovereign through the issue of 1,290,392 Shares (Additional Shares) to Rio Tinto pursuant to Rio Tinto’s first right of refusal on equity issues in accordance with the Investment Agreement between Rio Tinto and the Company dated 16 July 2023. Subject to the issue of Additional Shares, Rio Tinto will increase its shareholding in Sovereign to 19.9%.
HYDRAULIC MINING TRIAL
The saprolite-hosted mineralisation at Kasiya is predominantly homogenous, with consistent physical properties across the 1.8 billion tonne Mineral Resource Estimate. Pilot Phase data from the dry-mining trial has confirmed that no drilling, blasting, crushing, grinding, or milling is needed before stockpiling material for processing into rutile and graphite products.
The temporary water storage pond, constructed and sealed with natural clay from excavated material, has been filled with six million litres of ground water, predominantly from eight water boreholes on site. This water will be used during the hydraulic mining trial and continuously recycled from the constructed holding cells where sand and fines fractions will be stored respectively prior to the planned deposition and rehabilitation testwork.
Figure 2: Overview of the hydraulic mining trial.
All hydraulic mining equipment is skid-mounted for ease of operation and mobility. A barge-mounted pump, transports the slurry from the sump to a vibrating screen.
Figure 3: A pump, mounted to a barge, pumps the slurry to a vibrating screen.
Screen underflow is collected in a screen underpan and pumped through a stacker cyclone. The cyclone generates a -45 micron slurry on the overflow and a +45 micron sand on the underflow. This process is designed to replicate plant conditions where these fractions are produced as tailings, and will be used in subsequent in-pit deposition test work.
The overflow slurry is transferred to a settling pond, where it will settle, allowing for the recovery of approximately 34% of the water, which will be returned to the water storage pond. The concentrated slurry, along with the sand discharge from the cyclone underflow, will be used for the next set of tests in the in-pit deposition phase.
Land rehabilitation will be a key part of the ongoing Optimisation Study. Sovereign’s objective is to restore land post mining to conditions that match or surpass existing agricultural yields. The Pilot Phase will showcase to local communities the successful rehabilitation of land for agriculture post-mining. These efforts will also help Sovereign refine excavation and backfill techniques.
Blending test work will commence after the completion of the hydraulic mining tests. This phase will involve backfilling the seven individual test pits using various ratios of fines and sand to be followed by soil remediation and rehabilitation testwork.
Figure 4: The train of high-pressure pumps used to drive the water monitor are skid-mounted.
Figure 5: +2mm oversize is screened out using a vibrating screen.
ENQUIRIES
|
Frank Eagar (South Africa/Malawi) +27 21 065 1890 |
Sam Cordin (Perth) +61(8) 9322 6322 |
Sapan Ghai (London) +44 207 478 3900
|
|
|
Nominated Adviser on AIM and Joint Broker |
|
||
|
SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
||
|
Ewan Leggat Charlie Bouverat |
|||
|
|
|
||
|
Joint Brokers |
|
||
|
Stifel |
+44 20 7710 7600 |
||
|
Varun Talwar |
|
||
|
Ashton Clanfield |
|
||
|
|
|
||
|
Berenberg |
+44 20 3207 7800 |
||
|
Matthew Armitt |
|
||
|
Jennifer Lee |
|
||
|
|
|
||
|
Buchanan |
+ 44 20 7466 5000 |
||
Competent Person Statement
The information in this announcement that relates to the Mineral Resource Estimate is extracted from an announcement dated 5 April 2023 entitled ‘Kasiya Indicated Resource Increased by over 80%’ which is available to view at www.sovereignmetals.com.au and is based on, and fairly represents information compiled by Mr Richard Stockwell, a Competent Person, who is a fellow of the Australian Institute of Geoscientists (AIG). Mr Stockwell is a principal of Placer Consulting Pty Ltd, an independent consulting company. Sovereign confirms that a) it is not aware of any new information or data that materially affects the information included in the original announcement; b) all material assumptions included in the original announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this announcement have not been materially changed from the original announcement.
|
Kasiya Total Indicated + Inferred Mineral Resource Estimate at 0.7% rutile cut-off grade |
|||||
|
Classification |
Resource |
Rutile Grade |
Contained Rutile |
Graphite Grade (TGC) (%) |
Contained Graphite |
|
Indicated |
1,200 |
1.0% |
12.2 |
1.5% |
18.0 |
|
Inferred |
609 |
0.9% |
5.7 |
1.1% |
6.5 |
|
Total |
1,809 |
1.0% |
17.9 |
1.4% |
24.4 |
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
#TM1 Technology Minerals plc – Exploration update on the Leinster project
First work programme confirms high-grade lithium (2.95% Li2O) in spodumene pegmatite float on newly awarded exploration licence in Ireland
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce the results of the first work programme on new Prospecting Licence Area (PLA 1597) in County Wexford, Republic of Ireland, has yielded high-grade spodumene pegmatite samples in float ranging up to 2.95% Li2O.
The licence, which was awarded to Technology Minerals’ wholly owned subsidiary, LRH Resources Limited (“LRH”) on 22 March 2022, will form part of the Company’s Leinster Property exploration block, which is operated under an exclusive Option and Earn-in agreement with Global Battery Metals Ltd (“GBML”), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) with no project expenditure required by the Company.
Highlights
· The Company has been issued a new licence PLA 1597 by the GeoScience Regulation Office of the Department for the Environment, Climate and Communications of Ireland to add to the 15 licences already held bringing the total area of tenure to 526km2.
· Preliminary ground truthing and prospecting on PLA 1597 at two localities Knockeen and Carriglead have yielded high-grade spodumene pegmatite samples in float ranging up to 2.95% Li2O.
· Work programme due to commence to include detailed mapping, prospecting and deep overburden sampling at the Knockeen and Carriglead targets.
· Five previously identified target areas on the northern block are also to be targeted with follow up prospecting and sampling.
· Field exploration programmes to commence in October 2022 with a view to identifying specific areas for follow up drilling.
New licence PLA 1597 and initial prospecting results
PLA 1597 was identified as prospective for lithium pegmatite potential by the Company’s exploration consultants, Aurum Exploration Services (“Aurum”), following detailed desktop studies which outlined two proximal areas of spodumene-bearing pegmatite, reported by previous operators in the mid 1970s as part of their exploration programmes. The lithium pegmatite boulder trains at Knockeen and Carriglead are separated by a north-south valley and form an initial area of interest covering approximately 2km east-west and 1km north-south. An historical exploration map and report also described a trench excavated at Knockeen as having uncovered a 1.8m wide bedrock spodumene-bearing pegmatite vein. However, no detailed laboratory assays or geological maps of the trench were reported at that time.
LRH completed an initial one day reconnaissance site visit to the Knockeen – Carriglead prospects, with Aurum geologists visually confirming the presence of spodumene in float and collecting six samples which were submitted for analysis to ALS Laboratories, Loughrea, Co. Galway, Ireland and which returned values between 0.70% Li2O to 2.95% Li2O (Table 1).
|
Sample ID |
Licence |
Prospect |
Li ppm |
Li2O %* |
|
210724CL02 |
PL 1597 |
Knockeen |
3240 |
0.70 |
|
210724CL03 |
PL 1597 |
Knockeen |
11200 |
2.41 |
|
210724CL04 |
PL 1597 |
Knockeen |
11000 |
2.37 |
|
210724CL05 |
PL 1597 |
Knockeen |
13700 |
2.95 |
|
AES61137 |
PL 1597 |
Carriglead |
3550 |
0.76 |
|
AES61138 |
PL 1597 |
Carriglead |
7470 |
1.61 |
Table 1: Results from prospecting at Knockeen and Carriglead Prospects PL 1597
*Li2O % = Li ppm % (x 2.153)
Dry stone field walls in the immediate vicinity of the historical Knockeen trench revealed abundant, spodumene-rich pegmatite float, with three of the four samples collected returning values of between 2.37% Li2O and 2.95% Li2O (Figure 1 & Photo 1).
Photo 1: Map showing spodumene pegmatite samples from Knockeen and Carriglead
A & B Spodumene pegmatite field samples Knockeen, C Spodumene pegmatite Knockeen Sample 210724CL05 (Li2O = 2.95% Li2O), D Spodumene pegmatite Carriglead Sample AES61138 (Li2O = 1.61% Li2O)
Further detailed exploration work on PLA 1597 by LRH, funded by its partner, GBML, has been agreed and is expected to commence in late October 2022, in the form of prospecting, mapping and deep overburden sampling surveys, which are aimed at defining targets for drilling.
The Leinster Property
The Leinster Property, located in the counties of Wicklow, Dublin and Wexford is focused on the exploration for lithium mineralisation within spodumene-bearing pegmatites. The Property consists of 15 prospecting licences, termed ‘the North-west Leinster Block’, which cover a total area of approximately 477km2, and a new Prospecting Licence Area (“PLA”), PLA 1597 48.32km2, in County Wexford which was awarded on 22 March 2022. All of the Property prospecting licences were granted to LRH.
The Property lies along a 135km long regional structural trend of known lithium-bearing pegmatites, along the south-eastern margin of the Leinster Massif, centred on the Aclare and Moylisha occurrences, which were discovered during 1960s and 1970s and are currently being explored under the Ganfeng – International Lithium joint venture.
In addition to the work on PLA 1597, five target areas on the North Leinster Block (Figure 2) will be followed-up, with detailed prospecting work by Aurum during Q4 2022. Exploration on these areas to-date has identified lithium-rich aplite and spodumene pegmatite float boulders within broader zones of Geological Survey of Ireland lithium anomalism in drainage stream sediment samples. This work has been previously reported by LRH and a summary of the prospecting is presented below:
1. Aghavannagh (1.78% Li2O equivalent in large angular blocks of spodumene-beating pegmatite float);
2. Sorrel (1.6% Li2O equivalent in spodumene-beating pegmatite float);
3. Tonygarrow (1.0% Li2O equivalent in spodumene-beating pegmatite float);
4. Scurlocks (0.65% Li2O equivalent in aplite float);
5. Knocknaboley (anomalous lithium, 820 ppm Lithium in aplite float).
As part of an on-going workflow, the Company continues to identify, fully assess and apply for new prospective areas for spodumene-pegmatite exploration opportunities along the district-scale Irish lithium pegmatite belt.
Figure 1: Map showing location of prospecting samples at Knockeen and Carriglead
Figure 2: Target map showing location of Northern Block and PL 1597
Alex Stanbury, CEO of Technology Minerals, said: “We are very pleased by the results of our first work programme at the Leinster Property which has confirmed the presence of high-grade lithium in spodumene-pegmatites and further strengthens our confidence in the potential of our prospects in the Irish pegmatite belt. Exploration programmes are expected to commence later this month to identify specific areas for follow up drilling and we are continuing to add to our portfolio of projects in Ireland with new applications focused on lithium exploration, a critical mineral needed to power the transition to a carbon neutral economy.”
Competent Person
All scientific and technical information in this announcement has been prepared under the supervision of EuroGeol Vaughan Williams M.Sc. P.Geo (a Principal of Aurum Exploration Services who currently provides exploration services to TM and to LRH), and a “qualified person” within the meaning of National Instrument 43-101. Vaughan Williams is also company secretary of LRH and a Director of the LRH Spanish subsidiary Asturmet Recursos S.L.
Enquiries
|
Technology Minerals Plc |
|
|
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 4582 3500 |
|
Global Battery Metals Ltd. |
|
|
Michael Murphy BA, MBA, MSc., ICD, President & CEO |
+1 604-649-2350 |
|
|
|
|
Oberon Investments Limited |
|
|
Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
|
|
|
|
Arden Partners Plc |
|
|
Ruari McGirr, George Morgan |
+44 (0)207 614 5900 |
|
Gracechurch Group |
|
|
Harry Chathli, Alexis Gore, Amy Stupavsky |
+44 20 4582 3500 |
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk