Welcome to our roundup of the most popular mining investment, exploration, and development stories on Theassay.com from the last seven days.
We kick off with news this week that KEFI Gold and Copper (AIM: KEFI) has successfully undertaken an oversubscribed fundraising for gross cash proceeds of £8 million.
The company will raise £4.4 million through the issue of 550,000,000 new Ordinary Firm Placing Shares and a further £3.6 million through the issue of 450,000,000 Ordinary Shares as a Conditional Placing.
In development news, we heard how Brixton Metals Corporation (TSXV: BBB | OTCQB: BBBXF) has acquired mineral claims contiguous with its Thorn Project in north-west British Columbia, Canada. The new total land package comprises 2,863km2 of mineral tenure.
The new 23,511.21ha (235km2) mineral claim group was acquired from two arm’s length parties for a combined total of C$75,000 in cash. The new claims are royalty free, with the exception of one claim (1693.5ha), where the Vendor was granted a 1.5% net smelter return and Brixton holds the right to acquire 1.0% of the NSR for C$1 million prior to commercial production.
Lahontan Gold Corp. (TSXV: LG) has expanded its land holdings at the company’s flagship Santa Fe Project in Nevada, U.S., by staking 22 unpatented lode mining claims.
The new claims cover potential southern extensions to the high-grade BH Zone, as well as surface geochem and hydrothermal alteration anomalies. The company reports that they also cover small gaps between existing land holdings and adjacent claimants.
Kimberly Ann, Lahontan Gold’s president & CEO, said, “The Walker Lane of Nevada is an incredibly competitive mining and exploration jurisdiction, and Lahontan wants to be very proactive when the opportunity to acquire new claims is available.”
Over in Western Australia, Rumble Resources Limited (ASX: RTR) has commenced a 7,000m air core and reverse circulation drill programme on a series of newly defined battery metals targets within the 100% owned Wardawarra Project, located 100km northeast of Mt Magnet within the Murchison Goldfields.
The company says these new nickel, copper, cobalt, PGEs, lithium, tantalum and niobium targets were generated from a detailed historic exploration review, regional grab sampling (completed by Rumble), shallow regolith drilling and pulp re-assays from potential nickel bearing rocks at the Cranes Au prospect.
On to drilling results, and American West Metals Limited (ASX: AW1) has received positive assay results from the first diamond drill hole completed by the company at the West Desert Project in Utah.
Drill hole WD22-01 was designed to test the upper continuation of high-grade mineralisation in a key section of the historical West Desert deposit.
The drill hole has intersected multiple lenses of high-grade copper and zinc mineralisation within broader halos of lower grade mineralisation.
Managing director, Dave O’Neill, said significantly, a number of these high-grade zones lie outside of the current resource on this drill section.
Libero Copper & Gold Corporation (TSXV: LBC | OTCQB: LBCMF) has received positive initial partial assay results from the first diamond drill hole into the Mocoa porphyry copper deposit located in Putumayo, Colombia.
Drill hole MD-043 has been completed to a depth of 1,235 m and significant assay results have been received and are reported here to a down hole depth of 450 m.
Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has further expanded the promising Tokosea Gold Target discovery with drill results from the 90,000 m programme underway at the Enchi Gold Project in Ghana.
First pass Reverse Circulation (RC) drilling at the Tokosea Gold Target completed as part of the inaugural drill programme on the grassroot target at Enchi, intersected multiple wide zones of gold mineralisation from surface.
Drill results included 1.80 grams per tonne gold over 27.0m from 30m, including 4.13 g/t Au over 3.0m from 31m, and 1.67 g/t Au over 17.0m from 131m, including 18.17 g/t Au over 1.0m from 131m.
Finally, Snowline Gold Corp. (CSE: SGD) has made a number of senior appointments with Sergio Gamonal as lead geologist and Stephanie Hansen as marketing and investor relations manager.
“I am very excited to join a team of discovery-driven, highly motivated and passionate people at Snowline focused on advancing a unique and unexplored gold camp in the Yukon,” Mr Gamonal said.
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