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
Over this past week, Iondrive Limited (ASX: ION) has signed a collaboration agreement with the chair of production engineering of e-mobility components of RWTH Aachen University (PEM) and PEM Motion GmbH (PEM Motion).
This collaboration aims to advance sustainable battery recycling technologies by leveraging PEM’s extensive expertise in battery technology and recycling, along with Iondrive’s innovative Deep Eutectic Solvents (DES) sustainable battery recycling process.
Although the collaboration agreement is non-binding, it is considered a significant step as it formalizes a strategic industry partnership in the major target market of Europe. This partnership underscores the unique value proposition of Iondrive’s sustainable battery recycling process.
PEM is seeking to establish a consortium and secure the necessary funding to address challenges in complying with the new batteries regulation, part of the European Green Deal. This regulation includes targets for recycling efficiency, material recovery, and recycled content, which will be gradually introduced from 2025 onwards. The consortium is intended to comprise strategic partners from the entire battery recycling value chain, including automotive OEMs, to validate at scale the performance of battery cells made from recycled metals.
New exploration and development
Lode Resources Ltd (ASX: LDR) has secured additional antimony (Sb) prospects including the historic Magwood antimony mine, a former primary producer of antimony.
19 antimony prospects have been recently identified within Lode’s EL9662 and EL9319, with a combined area of 1,914 km2, forming a strategic antimony exploration portfolio in an area of significant historical antimony production.
The Magwood mine was in production mainly between 1941 and 1970 with recorded yearly production grades ranging from 4% to 62% Sb and was Australia’s primary antimony producer at the time.
Magwood has never been drilled and there is almost no historical drilling within Lode’s antimony project area despite the geology being considered highly prospective for orogenic structurally controlled Sb mineralization. Detailed surface work here is almost non-existent.
Meanwhile, Santacruz Silver Mining Ltd. (TSXV: SCZ) has announced its National Instrument 43-101 – Standards of Disclosure for Mineral Projects compliant mineral resource and reserve estimates for its three Bolivian producing assets: the Bolivar mine, Porco mine, and Caballo Blanco Group of mines, and the Soracaya exploration project, also located in Bolivia.
Arturo Préstamo, executive chairman, and CEO of Santacruz, commented, “This marks a noteworthy milestone for Santacruz as we continue to build a mid-tier silver and base metals company. The verified mineral resources and reserves underscore our solid asset base. It is important to note that our Bolivian producing mines are open along strike and at depth, and with our ongoing exploration programme, we believe there is potential to grow the current mineral resources and reserves.”
Highlights include:
- Total proven and probable mineral reserves of 54M AgEq including 19Moz of silver and 259,000t of zinc
- Total measured and indicated resources of 102M AgEq oz including 32Moz of silver and 518,000t of zinc
- Total inferred resources at the Bolivian Producing Mines of 189M AgEq oz including 72Moz of silver and 882,000t of zinc
- Initial inferred resource for Soracaya of 35Moz of silver
Drilling results
Anax Metals Limited (ASX: ANX) has received results from continuous XRF-scanning of the first two holes at the Evelyn deposit, part of the Whim Creek Project, and these have confirmed the high-grade nature of the visual intersections.
The best visual intersection from the drilling programme previously reported is from Hole 24AED002A which encountered a strongly mineralized zone between 176.45 and 189.9m. Preliminary results have confirmed the high-grade nature of the intersection.
In addition, Evelyn mineralization typically contains significant gold and silver enrichment. However, the continuous XRF-scanner is unable to accurately quantify gold and silver grades, and these are therefore not reported. Laboratory analyses will include gold and silver assays, and results for precious metals will be reported once received.
Other news
Finally, St George Mining Limited (ASX: SGQ) has announced the appointment of Mr. Adolfo Sachsida – Brazil’s former Minister of Mines and Energy and a highly credentialled business leader – to its board.
John Prineas, executive chairman, said, “We are delighted to welcome the well-regarded and highly credentialled Adolfo Sachsida to our team as we enter an exciting growth phase for St George with the proposed acquisition of the high-grade niobium-REE Araxá Project in Minas Gerais, Brazil.”
Mr Sachsida has occupied important federal government positions in Brazil during his career including Minister of Mines and Energy, Chief Secretary of Economic Affairs of the Ministry for the Economy, Secretary of Economic Policy of the Ministry for the Economy.
