Celsius Resources (ASX: CLA) is up 3.7% at the opening after the company’s Tambuli Mining subsidiary reported copper-gold assay results from the Nabiga-A Hill copper-gold project, located in the Philippines.
The first drill hole – of a planned 7-hole campaign – has identified large-scale copper-gold with true widths of up to 300m, based on a 0.2% copper cut-off grade.
Notable intercepts include:
192.2m at 0.6% copper and 0.13g/t gold from a 886m down hole.
26m at 0.85% copper and 0.24g/t gold from a 1128m down hole.
Along with drilling the remaining test holes, the company is currently testing vertical extensions to the mineralisation discovered in this first hole.
Managing Director Robert Gregory commented:
“The copper-gold mineralisation at Nabiga-A Hill clearly has large scale potential. On the surface there is a silica cap and alteration typical of a big porphyry system. Defining the trend of the mineralisation now gives us the opportunity to test how far the system extends to the surface beneath the silica cap.”
For more information about Celsius Resources, click here to view the company’s Deep Dive page.
First Graphene (ASX: FGR) is up 5.71% today after securing a UK grant for low-carbon cement development.
Along with other partners, the company is a member of a consortium which has been awarded a UK government grant to develop “high performance graphene-enhanced cement.”
To win the $360,206 grant, the company partnered with Breedon Cement, Morgan Sindall Construction & Infrastructure, and the University of Manchester.
The construction industry is a major emissions producer. According to a 2019 report for the United Nations Environment Programme, construction accounts for 38% of global carbon dioxide emissions.
First Graphene’s project seeks to develop new, lower-emission methods of cement production to help the Global Cement and Concrete Association reach its goal of cutting carbon emissions 25% by 2030.
Managing Director and CEO Michael Bell commented:
“[This is] a major achievement to have secured this funding in a very competitive environment, which is testament to the consortium’s manufacturing and engineering capabilities.”
“It is important to note that this is one of multiple collaborations with industry that the Company is undertaking with a view to building our pipeline of commercial opportunities over the coming months.”
Argonaut Resources (ASX: ARE) has rallied 14.29% at the open today after providing an update on the controversy surrounding the Lumwana West project in Zambia.
The stock plunged on 24 January after the surprise cancellation of a key Zambian exploration licence. Argonaut appeared shocked, and suggested foul play.
“Argonaut’s Zambian lawyers have discovered that key compliance documents provided by the Company to its Zambian shareholders for filing were not submitted as required and this appears to have led to the cancellation of the licence,” said the company in a 24 January statement.
“The circumstances in which these documents were withheld appears to constitute a fraud.”
“Argonaut has also learned that a new licence over the Lumwana West area was hurriedly and potentially corruptly granted to a recently registered company with no apparent financial or technical capacity.”
Today’s announcement advised that Zambian government authorities are investigating the event.
CEO and Director Lindsay Owler said:
“Our circumstance has arisen at a time when the newly elected Government is working hard to restore investor confidence in the Zambian mining sector.”
“This work was being undertaken earnestly and expediently by Argonaut in the spirit of and in compliance with the Zambian Mining Act. It is exactly the type of work required of foreign investors if Zambia is to realise its goal of greatly increased copper production.”
ChemX Materials (ASX: CMX) has soared 9.52% after signing an agreement with Primero to conduct the pre-feasibility study on the company’s HiPurA™ high purity alumina (HPA) pilot plant.
Growth in both the electric vehicle and lithium battery markets has driven increased demand for HPA. According to the company, this pilot plant will be a key milestone in ChemX’s quest to supply its HPA into the battery materials market.
ChemX expects the study to be finished in Q2 2022.
Managing Director David Leavy commented:
“We are excited to appoint Primero to undertake the prefeasibility Study for the ChemX HiPurA™ HPA pilot plant. Primero has a proven track record and depth of experience in process plant engineering, giving us great confidence.”
“This study is a significant step in achieving our strategy of becoming a producer of HPA. The lessons learnt from operating the pilot plant will allow us to move into commercial scale plant construction with confidence.”
Critical Resources (ASX: CRR) has jumped 10% at the open after downhole electromagnetic surveys identified new targets at the Gibsons project in NSW.
Notably, the surveys found potential sulphide mineralisation that may extend up to 100m away from a previously defined hole (hole 09).
Commenting on the announcement, Managing Director Alex Biggs said:
“Drilling at Gibsons has been highly successful so far. Evidence of extensional mineralisation from Hole 09 speaks volumes about the potential scale of the Halls Peak system. We are excited to see the evolution of the current exploration campaign and are looking forward to further testing these targets.”
Moving forward, the company plans to drill further to test the size of mineralisation in hole 09. Critical Resources will also test the further potential of Hole 11A, which also showed positive results in the recent survey.
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