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ECR Minerals playing the big game – Andrew Scott talks to Andrew Haythorpe and Adam Jones
In a new June 2023 ‘on the ground’ interview, Andrew Scott talks to Andrew Haythorpe and Adam Jones about the exploration programme. Adam covers his schedule, boots on the ground at Hurricane (5-7 days) meeting the previous owner, and he will then be at Lolworth for the rest of June taking rock chips and sampling where the tantalum & niobium and rare earths were discovered last year. Andrew Haythorpe talks about the bigger picture for Lolworth in the back yard of Charters Towers, Pajingo etc, looks at the 1980s results, how the area is so unexplored and why the results, size and scale of the area offers so much potential. Both believe that very little would be needed to put the Lolworth discoveries on the scale of Charters Towers, given the 10km ridgeline, the specific area of interest 3.5 x 4km (12-20sq km), but there is also an overlap in the SE of the tenement with the same geology, which is totally untested, which could be 3x the size of the current ridgeline. Adam and Andrew then discuss the planning for Hurricane, putting in access tracks to the breccia veins with bulldozers and an initial RC drilling plan. Andrew explains how the current private landowners have been unable to exploit the asset, and how ECR are the first company with significant resources to get on the ground there.
Moving to Creswick, Adam touches on the underwhelming initial results, but points to the fact there is a 10k trend that remains to be tested, and the reasons why ECR has to work smarter. Adam looks at the geology of nearby Ballarat compared to Creswick – similar structure, narrow vein, anticlines etc, with some 30 veins already identified along the 10k strike. In summary, Andrew highlights the work Adam and the team have done with soil geochemistry and sampling and how they are ‘ranking’ the prospects to get the biggest bang for the ECR buck. In summary, the ECR team are are here to find good grades. Lolworth has some ‘smoking’ mineralisation and Andrew believes at Hurricane will deliver at 20-40-60m below surface, in other words a classicAustralian open cut mining start up which gives ECR a chance to play the big game.
#KDNC Cadence Minerals – Vox Market host an investor presentation and Q&A with Cadence CEO Kiran Morzaria
Kiran talks about:
~ Amapa ironore project, PFS, shipping, stockpiles etc
~ Yangibana rareearths
~ Lithium Technologies / Supplies & Sonora
~ investment returns & markets
Listen to the interview here
Kavango Resources #KAV – Ditau i10 target motivation & drilling commencement
Kavango Resources plc (LSE:KAV) has commenced drilling the “i10” target (“Target i10”) at the Ditau Camp Project (“Ditau”), in southwestern Botswana. Target i10 is a discrete circular anomaly that is 2.2km in diameter and under an estimated 120m of sand cover. Kavango’s primary objective is to retrieve rock core to establish whether Target i10 is a carbonatite intrusive. Carbonatite complexes are the world’s primary source of rare earth elements (“REEs”) and other strategic/industrial commodities. REEs are strategically vital commodities in high-tech industries.
Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW).
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“The drill motivation for Target i10 is a comprehensive piece of work. Kavango’s team has worked hard over the last two years refining the exploration methodology leading to the design of the current Ditau drill campaign. Using the latest remote sensing technologies, we have created sophisticated targeting models to guide our exploration.
We will now become the first explorers to test this area’s potential for carbonatites, which are the world’s primary source of rare earth elements (“REEs”). REEs are strategically critical minerals, crucial to all high-tech industries.
Given the fact that carbonatites and kimberlites often occur in clusters, controlled by regional geological structural trends, the Ditau property location could be significant. We know that Ditau is in a known kimberlite “corridor”, so the backdrop to drilling is favourable.
It is now down to the “truth detector” to tell us what is down there.”
Highlights
– Drill motivation
– Target i10 is a discrete circular anomaly, 2.2km in diameter
– Shallow depth, with Kalahari sediment and sand cover estimated at 120m, target zone directly underneath
– Kavango modelled Target i10 using inversions of Aeromagnetic data (“AEM”), combined with the interpretation of Audio-Magnetotelluric (“AMT”) data
– The targets have been independently verified to conform to an idealised model for carbonatite intrusives, based on their aeromagnetic signatures.
– Idealised Ore Deposit Model
– Target i10 is a “carbonatite pipe” type intrusive target
– Apparent concentric “ring-like” lithological zonation and structure, which could relate to mineralized horizons
– Target lies near the margin of the Kaapvaal Craton, a tectonic context common to mined carbonatites globally
– Comparison made with Kangankunde carbonatite in Malawi
– Drill operations
– First of two planned boreholes into Target i10 commenced 15 April, targeting the core of the magnetic high
– Camp secured & road access and drill pads completed
– Water borehole successfully drilled & solar powered water pump installed
– First hole is designated DITDD003
– DITDD003 Target End-of-Hole (“EOH”) depth 400m
– As of morning shift on 19 April (0600) DITDD003 has been drilled to 85.27m depth
– Drilling to be conducted by Mindea Exploration & Drilling Services (Pty) (“Mindea”)
– Plan to drill up to six 400m diamond core boreholes in current Ditau drill campaign, across 3 targets
Background to targeting
Kavango has identified 12 geophysical structures/targets at Ditau (targets i1 through i12), which the Company believes could be possible carbonatites and/or intrusive complexes that may host carbonatites. 9 of these targets are particularly well defined.
There are two target types at Ditau:
1) Discrete kilometre-scale carbonatite pipe targets, and
2) Larger multi-kilometre scale intrusive complex targets that may also be host to carbonatite intrusives and/or mafic associated mineralisation styles prospective for base metals
The 12 Ditau geophysical targets are not known to have been tested for either REEs or base metal mineralisation. Kavango identified these targets, which range in size from 1km to 20km in diameter, using modern geophysical interpretative techniques. Kavango has used combined and integrated Airborne Magnetics, Ground Magnetics and Audio-Magnetotelluric (“AMT”) surveys in the exploration of the area and for drill targeting.
Target i10
Kavango believes Target i10 could represent a discrete, kilometre-scale carbonatite pipe. This target is interpreted as a simple single phase carbonatite phase/pipe with a possible outer ring indicated by a weak magnetic low.
The geophysical anomaly is estimated to be 2.2km in diameter, with apparent concentric “ring-like” lithological zonation and structure. Kavango has surveyed Target i10 using Ground Magnetic and AMT technologies following from an initial modelling and interpretation of the regional Aeromagnetic data.
Kavango has provided a 3D inversion of the Target i10 Aeromagnetic data with an AMT section overlay on its website:
https://www.kavangoresources.com/media-library/news-release-media/rns19april2022
Based on analysis of the AMT section over Target i10, the sand cover is estimated to be roughly 120m deep. The magnetic inversion confirms that the primary target zone lies just underneath this cover.
To confirm the Company’s geophysical interpretation of Target i10, Kavango currently plans to drill two geological boreholes into i10 to confirm the presence of a carbonatite. The first hole will target the core of the magnetic high, while the second hole is designed to test the edge of the negative magnetic response.
Target i10 Idealised Ore Deposit Model
In its analysis of Target i10, Kavango has used the REE bearing Kangankunde carbonatite pipe (“Kangankunde”) in Malawi as a carbonatite model.
Kangankunde is one of the largest carbonatites in the Chilwa Alkaline Province (“Chilwa”) of Southern Malawi. Chilwa is a roughly 300km-diameter area, which comprises of Late Jurassic-Early Cretaceous alkaline rocks and clusters of carbonatites. Kangankunde is one of many carbonatites in Chilwa and is roughly 1.5km in diameter.
Kangankunde forms a low hill, 200m above the surrounding plain, with lower slopes composed of fenitised and locally fractured (brecciated) rocks with the upper slopes predominantly forming carbonatite.
Although Target i10 is buried under roughly 120m of Kalahari cover, its geophysical signatures are comparable to Kangankunde. Kavango’s interpretation of combined Aeromagnetic and AMT data of Target i10 indicates this geophysical anomaly could represent a simple, single phase carbonatite pipe, with a possible ring indicated by a weak magnetic low.
For comparison, Kavango has provided a geological map of Kangankunde on its website:
https://www.kavangoresources.com/media-library/news-release-media/rns19april2022
Carbonatites can exhibit significant lithological and structural variation, both between and within individual pipes. As such, to maximise the chances of success in exploring for carbonatite hosted REE deposits, it is common practice to drill multiple boreholes along fences into single targets. The geological map of Kangankunde illustrates the geological complexity and therefore the necessity for drilling multiple drillholes into carbonatite targets to elucidate the geology and locate potential indicators of mineralisation.
Drilling at Ditau
The drill camp is constructed and secure. All supporting equipment and personnel have been located to site.
Kavango has successfully drilled a 180m water borehole, which the Company believes should yield enough water to support drilling operations. A solar powered pump has been installed.
Road access between the drill camp, drill collar locations and water sources are also complete.
Drilling operations commenced on Friday 15 April. In total, Kavango expects to drill up to 6 diamond core holes in the current campaign (totalling 2,400m). Each hole has an anticipated target EOH depth of 400m, and the Company aims to test 3 of the 12 geophysical targets at Ditau.
The Company and its contractors have designed the current Ditau drill campaign to be flexible and guided by results. The plan is to test both possible carbonatite pipes and possibly related large-scale intrusive complexes (which may also be host to discrete carbonatite bodies).
Kavango will release a comprehensive report on the outcome of current planned 6-hole drill campaign once all data has been processed and verified.
Depending on the success of the current drill campaign, Kavango has identified a further 17 drill collar locations for future test-drilling across all 12 geophysical targets/structures.
Ditau regional geological setting
Carbonatites often occur in “swarms” or clusters, oriented along favourable and clearly defined deep continental scale geological, structural trends. The 12 Ditau geophysical structures occur along a southwest-northeast regional corridor, along the south-eastern edge of the trend that hosts the Mabuasehube and Kokong kimberlite groups. Desktop analysis of regional data by Kavango’s geologists suggests this trend is parallel to other corridors that host other kimberlite groups in Botswana and northwest Angola. In the latter these trends are known to host both kimberlite and carbonatite intrusives, meaning that the presence of one is a strong indicator for the other.
In addition to the known presence of kimberlites within the “Ditau trend” (in numerous published reports and maps), and supporting the possible presence of carbonatites, are an as yet small cluster of carbonatite intrusives (KW2, definite, and KS12 & KS36 possible bodies) in the vicinity of the project (the “Falconbridge Carbonatites”). The Falconbridge Carbonatites were drilled by Falconbridge Exploration Botswana (Pty) Ltd in the late 1970’s-early 1980’s, to the immediate north of and 30km along strike to the northeast of the Ditau project.
The POW/KAV Joint Venture at Ditau
Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator. Mindea Exploration and Drilling Services (Pty) (“Mindea”) will conduct the drilling.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd. in Toronto, Canada. Mr. Brett is a member of the Professional Geoscientists of Ontario, the Prospectors and Developers Association of Canada, the Canadian Exploration Geophysical Society, and the Society of Economic Geologists. Mr. Brett has sufficient experience that is relevant to geophysics applied the styles of mineralisation and types of deposits under consideration to act as a Qualified Person as defined under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.
NOTES TO EDITORS
THE DITAU CAMP PROJECT
The Ditau Camp Project comprises two Prospecting Licences (“PLs”) (PL169/2012 & PL010/2019) that cover an area of 1,386km2. Geophysical and geochemical analyses by Kavango in the two PLs have identified 12 “geophysical structures” of which 9 have clear indications of being “ring structures”.
The “ring structures” have the potential to host carbonatite and other intrusive rocks.
Carbonatites are the principal source of rare earth elements (“REEs”) including the much sought-after elements Neodymium (Nd) and Praseodymium (Pr), which are used in the manufacture of the new generation of electric vehicles (EVs), magnets and other high-tech applications. Other elements/minerals associated with carbonatites include Niobium, Phosphates, Monazite, Strontium, Magnetite and Copper.
Mafic intrusives have potential to host base and precious metals, as seen in the Molopo Farms Project, Selebi Phikwe and Tati Nickel deposits in Botswana.
Power Metal Resources #POW – Diamond Drilling Commences at the i10 Target – Seeking Rare-Earth Element Carbonatite Intrusives
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolioannounces that diamond drilling has now commenced at the i10 Target (“i10” or the “Target”) located within the Ditau Camp Project (“Ditau”), southwestern Botswana.
The i10 Target is marked by a discrete, circular, geophysical anomaly that is 2.2km in diameter and under an estimated 120m of sand cover. Kanye’s primary objective is to retrieve diamond core to establish whether the Target’s geophysical anomaly is caused by a carbonatite intrusive. Carbonatites are the world’s primary source of rare-earth elements (“REEs”) and other strategic/industrial metals including copper.
The Ditau Camp Project is held by Botswana based Kanye Resources Pty Limited (“Kanye”), which is a 50/50 joint-venture partnership with Kavango Resources plc (LSE:KAV) (“Kavango”) – who are the operators.
Highlights
– Drill motivation
– The i10 Target is highlighted by a discrete circular magnetic anomaly, measuring 2.2km in diameter
– The Target is interpreted to lie at a shallow depth, below an estimated 120m of Kalahari sand cover – based on Audio-Magnetotelluric (“AMT”) data obtained over i10.
– Kanye has successfully completed aeromagnetic and AMT inversions over the Target.
– The Target has been independently verified to conform to an idealised model for carbonatite intrusives, based on its aeromagnetic signature.
– Idealised Ore Deposit Model
– I10 is a carbonatite pipe intrusive target
– Based on the magnetic signature, the Target has concentric “ring-like” lithological zonation, which could relate to rare-earth element mineralised horizons
– Target lies near the margin of the Kaapvaal Craton, a tectonic context common to other carbonatites globally
– Drill operations
– Camp secured, road access and drill pads completed
– Water borehole successfully drilled and solar powered water pump installed
– First of two planned drillholes at i10, hole DITDD003, commenced drilling on 15 April 2022, which is targeting the core of the magnetic high and has a target depth of 400m
– Drilling is being conducted by Mindea Exploration & Drilling Services (Pty) (“Mindea”)
– The plan is to drill up to six ~400m deep diamond drillholes at Ditau, including 2 drillholes at three separate magnetic anomlies, including i10.
Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:
“I have talked previously about the confidence we hold in the geological prospectivity across our projects in Botswana. That confidence means within an 18 month period, with Molopo, Tati and now Ditau, we have launched three drill programmes.
The Molopo drill programme successfully confirmed the presence of nickel, Tati confirmed the presence of gold and now we seek confirmation of rare earth elements at Ditau.
To say we are excited about the prospects for our interests in Botswana is an understatement. Let’s see what this drill programme delivers.”
Background Targeting
The Ditau Camp Project is centred around 12 unique geophysical anomalies (targets i1 through i12), which Kanye believes could be caused by possible carbonatites and/or intrusive complexes that may host rare-earth element mineralisation.
Targets i1 – i12 are seperated into two main target types:
1) Discrete kilometre-scale carbonatite pipe targets, and
2) Larger, multi-kilometre scale intrusive complex targets that may also be host to carbonatites and/or mafic intrusive bodies prospective for base-metal mineralisation.
The 12 Ditau geophysical targets are not known to have been drill tested for either REEs or base-metal mineralisation historically. Kanye originally identified these targets, which range in size from 1km to 20km in diameter, using interpretation of airborne magnetic data. To date, Kanye has used combined airborne- and ground-magnetic, and AMT surveys in the exploration at Ditau.
Target i10
Kanye believes the i10 Target anomaly could be caused by a discrete, 2.2km wide carbonatite pipe. The Target is interpreted as a simple, single phase carbonatite pipe with a possible outer ring indicated by a weak magnetic low ringing the main magnetic high feature.
A 3D inversion of the aeromagnetic data with an AMT section overlay of the I10 Target can be found at Kavango’s website at the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns19april2022
Based on analysis of the AMT data over i10, the Kalahari sand cover is estimated to be roughly 120m thick. The magnetic inversion results confirm that the primary target zone lies just underneath this sand cover.
To confirm the current geophysical interpretation of the i10 Target, Kanye is currently planning to drill two diamond drillholes into i10. The first drillhole, which is currently underway, will target the core of the magnetic high, while the second hole is designed to test the edge of the geophysical anomaly.
Target i10 Idealised Ore Deposit Model
In the analysis of geophysical data over i10, Kavango has used the rare-earth element bearing Kangankunde carbonatite pipe (“Kangankunde”) located in Malawi as a model.
Kangankunde is one of the largest carbonatites within the Chilwa Alkaline Province (“Chilwa”) at ~1.5km in diameter. Chilwa is a roughly 300km in diameter, and is comprised of Late Jurassic-Early Cretaceous alkaline rocks with clusters of carbonatite pipes – including Kangankunde.
At the surface, Kangankunde forms a low hill, which rises approximately 200m above the surrounding plains, with lower slopes composed of fenitised and locally fractured (brecciated) rocks with the upper slopes predominantly of carbonatite intrusive rocks.
Although the i10 target is buried under roughly 120m of Kalahari sand cover, Kanye’s geological team believe that the geophysical signatures are comparable to that of Kangankunde. The highlight the various similarities, a geological map of Kangankunde can be found on Kavango’s website at the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns19april2022
Carbonatites can exhibit significant lithological and structural variation, both between and within individual pipes. As such, to maximise the chances of exploration success in exploring for carbonatite hosted REE deposits, it is common practice to drill multiple boreholes along a fence pattern into a single target. The geological map of Kangankunde illustrates its concentric geological complexity and therefore the necessity for drilling multiple drillholes within i10 to elucidate the geology and locate potential indicators of REE or base-metal mineralisation.
Ongoing Drilling Operations
The drill camp has been constructed. All supporting equipment and key personnel are currently located on site.
Kanye has successfully drilled a 180m deep water borehole, which should yield enough water to support ongoing drilling operations. A solar powered pump has been installed and is currently operational.
Road access between the drill camp, drill collar locations and water sources is also complete.
Drilling operations successfully commenced on Friday 15 April 2022. In total, Kanye expects to drill up to 6 diamond drillholes as part of the current campaign (totalling ~2,400m). Each hole has an anticipated target depth of 400m, and Kanye aims to test 3 of the 12 geophysical targets as part of the ongoing drilling campaign.
Kanye and its contractors have designed the current Ditau drill campaign to be flexible and guided by ongoing visual results. Kanye will release field and laboratory results on the current planned 6-hole drill campaign once all data has been received, processed and verified.
Contingent on results from the ongoing drilling campaign, Kanye has identified a further 17 drill collar locations for future drill testing across all 12 geophysical targets/structures at Ditau.
Regional Geological Setting
Carbonatite intrusives often occur in swarms or clusters, oriented along favourable and clearly defined deep continental scale geological and structural trends. The 12 geophysical structures at Ditau occur within a southwest-northeast oriented corridor, part of the same corridor that host the Mabuasehube and Kokong kimberlites. Desktop analysis of regional geological and geophysical data by Kanye’s geologists suggest that this trend is sub-parallel to other corridors that host other kimberlite groups in Botswana and northwest Angola. In the latter, these trends are known to host both kimberlite and carbonatite intrusives, meaning that the presence of one is a strong indicator for the other.
In addition to the known presence of kimberlites within the geological corridor where Ditau is located, and further enhancing the prospectivity for Carbonitites on the Project, there is a small known cluster of carbonatite intrusives including KW2, Definite, KS12 and KS36 (the “Falconbridge Carbonatites”) which are located near to the Project. The Falconbridge Carbonatites were drilled by Falconbridge Exploration Botswana (Pty) Ltd in the late 1970s and early 1980s, to the immediate north of and 30km along strike to the northeast of the Ditau Project.
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
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NOTES TO EDITORS
Power Metal Resources plc – Background
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:
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Project |
Location |
POW % |
Work Completed or Underway |
Results Awaited |
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Alamo Gold Project |
USA |
Earn-in to 75% |
Excavation of multiple test pits and mapping & sampling. |
Field and assay results from on-site work programme. |
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Athabasca Uranium |
Canada |
100% |
Data compilation across uranium properties |
Interpretation results from all Properties complete. Next steps upcoming. |
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Authier North Lithium |
Canada |
Earn-in to 100% |
Soil & rock sampling completed |
Technical Review of exploration results & define next exploration steps. |
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Ditau Project |
Botswana |
50% |
Drill programme focused on key targets notably drilling of potential carbonatites and targeting rare-earth elements. |
Field updates and receipt & review of laboratory assay results. |
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Kalahari Copper Belt |
Botswana |
50% |
Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas |
Field programme findings and defined drill targets for near term drilling. |
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Molopo Farms |
Botswana |
53% |
Review of recent exploration findings. |
Determine next exploration steps and action plan. |
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Haneti Project |
Tanzania |
35% |
Diamond drill programme completed |
Receipt & review of laboratory assay results. |
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Victoria Goldfields |
Australia |
49.9% |
Diamond drill programme underway
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Field updates and receipt & review of laboratory assay results. |
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Paterson Projects |
Australia |
83.33% |
Wallal passive seismic and 2D seismic processing work programme completed. Review of historical data and target generation for Ripon Hills & Braeside West projects.
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Findings from multiple work programmes including final approvals and preparations for planned deep diamond drilling. |
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Selta Project |
Australia |
83.33% |
Field reconnaissance work now underway, including mapping and sampling. |
Field updates. |
Technology Minerals #TM1 – Exploration Update on the Oacoma Project in South Dakota, USA
Geochemical results from 27 rock samples confirms presence of manganese and rare earth oxide mineral grades
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 from 27 rock samples collected at the Stratabound Manganese – Rare Earth Oxides (“Mn – REO”) Project in Oacoma, South Dakota, USA.
Summary
- A total of 27 rock samples were collected during October 2021 from across the site, and sent to ALS Global in Reno Nevada for analysis
- The samples comprised of mudstone and gypsum-phosphate concretions from within the Sharon Springs Formation and manganiferous concretions from within the DeGrey Formation
- Rare Earth Oxides*: Two samples out of the 27 samples submitted reported total rare earth oxide (“REO”) values of 0.22% and 0.34%, with associated neodymium (Nd) oxide + praseodymium (Pr) oxide (“NdPr”) values respectively of 0.034% and 0.037% NdPr
- Manganese: Seven of the 27 samples reported manganese oxide (“MnO”) grades greater than 20% MnO, with the highest grading at 29.1% MnO
- The next step will be to continue the exploration campaign with a more comprehensive and extensive sampling and mapping programme.
*(REO = Total rare earth oxide which includes NdPr is the sum of La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3. NdPr = neodymium + praseodymium oxide. Assays were carried out by ALS Global using their ME-MS81L™ analytical package).
Oacoma Project
The Oacoma Project covers 13 state mineral leases covering a total of 3,083 acres in South Dakota, which the Company believes is prospective for stratabound manganese and rare earth oxides as well as nickel, cobalt, copper. The Company currently holds 15% of the project, with the option to acquire up to a further 85% working interest subject to the terms of an exploration agreement that is to be agreed, as part of an earn-in Joint Venture Agreement with North American Strategic Minerals Inc. (and its wholly-owned subsidiary East River Minerals LLC).
Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “We are pleased to report a positive set of results from the sampling survey at the Oacoma Project, which confirmed the presence of rare earth minerals and manganese. Following this encouraging start, we intend to advance our exploration at Oacoma with a more comprehensive and extensive sampling and mapping programme to continue to improve our understanding of the potential prospectivity of the project.”
The Directors of the Company accept responsibility for this announcement.
Enquiries
| Technology Minerals Limited | |
| Alex Stanbury, Chief Executive Officer
Lester Kemp, Chief Operating Officer Wilson Robb, Chief Technical Officer |
+44 20 7618 9100 |
| Alfred Henry Corporate Finance Limited | |
| Nick Michaels | +44 203 772 0021 |
| Arden Partners Plc | |
| Ruari McGirr, George Morgan | +44 207 614 5900 |
| Luther Pendragon | |
| Harry Chathli, Alexis Gore, John Bick | +44 20 7618 9100 |
About 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
Forward Looking Statements
Certain statements in this announcement may contain forward-looking statements which are based on the Company’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Competent Person Statement
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 LRHR), and a “qualified person” within the meaning of National Instrument 43-101.