Frontier Resources acquires rare earth elements and high purity alumina projects
Frontier Resources (ASX: FNT) has acquired Dalkeith Capital Pty Ltd. The acquisition has given Frontier Resources exploration licences prospective for two rare earth element projects, two high purity alumina projects, and one gold project. The company's stock opened 10% higher at 2.2 cents.
Chairman Alec Pismiris commented:
“Completion of the acquisition of Dalkeith complements the recent acquisition of the Murraydium REE Project and allows the Company to progress with planned exploration for critical metals that can help the world reach targets of being net zero carbon by 2050.”
Flynn Gold gains new tenement in Pilbara Region
Flynn Gold (ASX: FG1) has acquired a new 67 km2 tenement within the company’s Mt Dove project, located 70km south of Port Hedland in the Pilbara region of WA.
Executive Director Sam Garrett said:
“The recent discovery at Hemi by De Grey has generated significant international and local interest in the region for gold, and we plan to have boots-on-ground at the earliest opportunity.”
Euro Manganese receives investment to develop manganese project
Euro Manganese (ASX: EMN) has entered into a strategic investment agreement of CAD$8,499,500 with the European Bank for Reconstruction and Development (EBRD).
EBRD will receive 17.8m common shares issued at a price of CAD$0.4775 per share. Upon closing of the placement, ERBD will hold approximately 4.5% of Euro Manganese' common shares.
The proceeds will improve the company's balance sheet and funding flexibility for its flagship Chvaletice Manganese Project in the Czech Republic.
President and CEO Dr. Matthew James commented:
“The EBRD investment is an affirmation that EMN’s Chvaletice Manganese Project is an important part of establishing a strong, sustainable European electric vehicle battery supply chain to support Europe’s accelerating transition to e-mobility.”
Black Canyon completes drilling at Flanagan Bore manganese project
Australian manganese explorer, Black Canyon Limited (ASX:BCA) has finished drilling activities at Flanagan Bore, located in the Pilbara region of Western Australia. The program intersected significant intervals of manganese mineralisation.
Commenting on the announcement, Executive Director Brendan Cummins said:
“The Company has now collected critical drill data information to progress the geological and metallurgical characterisation of the manganese mineralisation,extend Mineral Resources at LR1 and, as anticipated, to estimate an additional Mineral Resource at FB3.”
Lunnon Metals announces assays for Kambalda Nickel Project
Lunnon Metals (ASX: LM8) has completed final assay results for the company’s Kambalda Nickel (Ni) Project. The company’s drill hole has returned 8.72m @ 3.54% Ni. The results drove a 13% increase in Lunnon shares this morning.
Managing Director Ed Ainscough commented:
“We are starting to build momentum now at Warren, along with the recent success at Baker. 2022 work programmes will look to infill the gaps in the original WMC drill spacing at Warren as quickly as possible so the current 6,400t Ni Mineral Resource can be updated.”
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