Welcome to our roundup of some the exciting mining investment, exploration, and development stories on Theassay.com from the last seven days.
In financing last week,Blackstone Minerals Limited (ASX: BSX) made a strategic investment in Flying Nickel Mining Corp. Flying Nickel intends to list on the TSX Ventures Exchange in early 2022 with its core asset – the Minago Nickel Sulfide Project located southwest of Thompson in Manitoba, Canada.
Kairos Minerals Limited (ASX: KAI) has entered into an Option Underwriting with CPS Capital Group Pty Ltd to fully underwrite the exercise of listed options. At the date of the Underwriting Agreement, there are 285,233,610 Options on issue which remain unexercised, representing an amount of A$7,130,840.
Rio2 Limited (TSXV: RIO) has participated in a definitive precious metals purchase agreement (Gold Stream) with Wheaton Precious Metals Corp. (TSX: WPM) for US$50M, in relation to the company’s Fenix Gold Project in Chile. Chief Strategy Officer, Jose Luis Martinez, said, “Entering into this definitive agreement with Wheaton International represents a significant milestone for Rio2 and secures the foundation of the Mine Financing Package setting the company on a solid path for development and a fast track to production.”
In exploration news last week, New Age Metals Inc. (TSXV: NAM) filed an independent Technical Report on its 100% owned River Valley Palladium Deposit, near Sudbury, Ontario. Mineralization was intersected in the drill holes and assays are pending from the laboratory. Near the Dana South Zone, a new trench has been excavated and more mineralisation exposed to the east adjacent to the mineralized domain. Channel samples have been taken of the mineralization and assays are pending.
There was plenty of drilling news last week, starting with Argonaut Resources NL (ASX: ARE) announcing that geologists have observed significant intervals of visible copper mineralization in drill core at the Nyungu Central copper-cobalt deposit in Zambia.
Similarly, Rumble Resources Limited (ASX: RTR) has also confirmed copper mineralization in its exploration at the Amaryllis Au-Cu-Ag Prospect, located on the Munarra Gully Project, 60km to the north of the township of Cue, Western Australia. “Rumble considers the Amaryllis Prospect as having similar geological characteristics to the Chibougamau Au-Cu Shear Vein Deposit, which has produced 3.5 million ounces of gold and one million copper metal tonnes at an average weighted grade of 2.05g/t Au and 1.76% Cu,” said Rumble’s managing director, Shane Sikora.
Capitan Mining Inc. (TSXV: CAPT) has received promising results from five reverse-circulation (RC) drill holes from the Capitan oxide-gold deposit, at its 100%-owned Peñoles project in Durango, Mexico. Galileo Mining Ltd (ASX: GAL) has intersected massive sulphide with aircore drilling at the company’s 100% owned Norseman project located within the Kambalda nickel belt of Western Australia. “Hitting massive sulphide in an aircore drill programme is an exceptional result,” “Although the portable XRF measurements show minor amounts of nickel and copper, the overall context of the mineralization is incredibly prospective,” said Galileo’s managing director, Brad Underwood.
Finally, in the world of gold, Snowline Gold Corp. (CSE: SGD) has received additional promising assay results from Phase I drilling at the Jupiter zone on its district-scale Einarson gold project in the Yukon Territory, Canada. The highlight of these results is from hole J-21-015, which was collared 153 metres northwest of previous holes J-21-010 to J-21-013.
Also in the news, Altus Strategies Plc (AIM: ALS) has entered into a sale and purchase agreement and other agreements with London AQSE Growth Market listed Eastinco Mining and Exploration plc to sell the company’s 100% owned subsidiary Aterian Resources Ltd.
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