Welcome to a roundup of some of our financing, exploration, and development stories on Theassay.com over the last week. To keep up to date with all the latest headlines, subscribe to our weekly newsletter.
Financing and M&A
Trigg Minerals Limited (ASX: TMG) has announced it has signed a binding purchase agreement with Bullseye Gold Pty Ltd to acquire the ultra-high-grade Taylors Arm and Spartan Antimony Projects in northern New South Wales.
Taylors Arm Antimony Portfolio features 71 historical workings on granted EL have produced ultra- high-grade antimony. The portfolio includes the Swallows Nest Mine, Testers Mine, Little Purgatory Mine, and Real McKay Mine.
The Spartan Antimony Project is immediately adjacent to Larvotto Resources’ licences containing its Hillgrove Antimony-Gold operation, covering parts of the Hillgrove Fault and the same rocks that host the Hillgrove deposit.
New exploration and development
Also, Anax Metals Limited (ASX: ANX) has provided an update on exploration at the Evelyn deposit, part of the Whim Creek Project, located 115km southwest of Port Hedland.
Evaluation of historical exploration has identified high-potential drill targets and extensive areas in the Evelyn mining lease requiring further exploration.
Anax’s Managing Director, Geoff Laing commented, “Evelyn is a rich, high-value base metal deposit and the discovery of any further ore positions within the granted mining lease would add considerably to the overall economics of the broader Whim Creek Project. The exploration team have done well to advance the prospectivity of the area and we look forward to executing a more aggressive discovery strategy going forward.”
Ioneer Ltd (ASX: INR | NASDAQ: IONR) has moved one step closer toward construction at its Rhyolite Ridge Lithium-Boron Project following announced publication by the Bureau of Land Management (BLM) of the project’s final environmental impact statement (EIS).
Rhyolite Ridge, which will create hundreds of good-paying jobs in rural Esmeralda County, Nevada, becomes the first lithium project to reach this advanced stage of the environmental permitting review process under the Biden Administration as part of its efforts to accelerate US lithium production.
Rhyolite Ridge is set to quadruple the nation’s lithium supply, reduce reliance on foreign suppliers and processors, and develop a domestic source of urgently needed materials in the US electric vehicle battery production supply chain.
Drilling results
Meanwhile, Locksley Resources Limited (ASX: LKY) has announced results of a holistic review of mineral potential outside of the known high-grade REE mineralization within the Mojave Project, California. The holistic review identified six rock chip samples grading >0.5% Sb, including two samples grading 11.2% Sb and 8.3% Sb.
The samples had been collected from the historic Desert Antimony Mine, located on the North blocks, during reconnaissance sampling for REEs. In addition, four samples returned copper >0.5%, including one sample assaying 4.12% Cu to the south-east of the Desert Antimony Mine.
Over the last 12 months, Locksley Resources has completed three surface sampling programmes at the Mojave Project, CA, located 45 minutes from Las Vegas. A total of 223 rock chip samples and 43 stream sediment samples have been collected throughout the Mojave Project’s El Campo Lease, North Block, North-East Block, and South Block. Given the proximity of the Mountain Pass REE Mine rare-earth elements (REE) have been the focus of exploration during these programmes.
Other news
Electric Metals (USA) Limited (TSXV: EML | OTCQB: EMUSF) has expanded its team with the appointment of Michèle McCarthy and Sylvia Chen to the board as independent directors.
Ms. McCarthy is the president of McCarthy Law Professional Corporation and president and CEO of Independent Review Inc. She has served on several boards and has significant experience in corporate restructuring and regulatory compliance. Michèle currently serves on the boards of Osisko Development Corp. and Russell Investments Corporate Class. Ms. McCarthy holds an LLB and LLM in Securities Law from Osgoode Hall and has been accredited with an ICD.D designation.
Ms. Chen is currently the vice president of finance at Dundee Precious Metals. She is an accomplished finance professional with a successful career spanning across global Canadian firms and publicly listed companies in diverse sectors, including the mining industry for the last 10+ years. Sylvia holds a Ph.D. in Psychology and an MBA in Accounting, as well as designations including Canadian Chartered Professional Accountant (CPA, CA), US Certified Public Accountant (CPA), and US Chartered Financial Analyst (CFA).
