Welcome to our roundup of some the foremost mining investment, exploration, and development stories on Theassay.com from the last seven days.
Finance news kicked off last week with Benchmark Metals Inc. (TSXV: BNCH | OTCQX: BNCHF) attracting some big-name investors, including Yamana Gold, by closing a bought deal financing for aggregate gross proceeds of $40,266,720. “Following the Offering we will have more than $50M available to explore and advance the Lawyers Gold-Silver Project,” John Williamson, Benchmark’s CEO, said.
Ionic Rare Earths Ltd (ASX: IXR) has entered a binding Term Sheet for the acquisition of 100% of Seren Technologies Limited, a UK private company with unique and leading-edge rare earth separation technology. “This is another step in IonicRE’s transition to be a vertically integrated rare earths company,” Tim Harrison, IonicRE’s managing director, said.
There was plenty of exploration and development news throughout the last seven days, starting with Centaurus Metals (ASX: CTM) achieving a further substantial increase in the Mineral Resource for its flagship 100%-owned Jaguar Nickel Project in north-eastern Brazil. The company said the increase confirms Jaguar as one of the largest nickel sulphide resources held by an ASX-listed company and the largest outside of the majors.
Success continued across South America with Galan Lithium Ltd (ASX: GLN) obtaining robust results from an updated Preliminary Economic Assessment (PEA) study for its 100% owned flagship Hombre Muerto West (HWM) in Catamarca Province, Argentina. It has also received permits for new drilling and Stage 1 construction permits for the HMW camp and pilot plant.
Blackstone Minerals Ltd (ASX: BSX) has restarted mining activities at the company’s 90% owned Ta Khoa Nickel Project in northern Vietnam. Scott Williamson, Blackstone Minerals’ managing director, said, “The recommencement of mining activity is an important milestone for the company, and the speed at which approvals were secured is a testament to the expertise and relationships our team has on the ground in Vietnam.”
Drilling news started with Coda Minerals Ltd (ASX: COD) receiving further significant preliminary results from the ongoing IOCG drilling programme at Emmie Bluff Deeps, part of its Elizabeth Creek Project in South Australia.
In Canada, Surge Copper Corp. (TSXV: SURG | OTCQX: SRGXF) received positive assay results for 11 holes from the Seel Breccia Zone at the company’s 100% owned Ootsa Property in central British Columbia. CEO, Leif Nilsson, said these initial drill results show potential to significantly expand near surface high-grade mineralization well beyond the zone of historical drilling, and the area is being evaluated for its potential as a high-grade starter pit.
Similarly, Commerce Resources Corp. (TSXV: CCE | OTCQX: CMRZF) reported the receipt of positive assay results from Saville Resources Inc.’s maiden drill programme on Commerce’s Miranna Prospect in Quebec, Canada. The testing of Miranna is part of its 2021 diamond drill programme at the Niobium Claim Group Property.
In IPO news, American West Metals (ASX: AW1) has made the headlines by listing on the Australian Securities Exchange (ASX) under the ticker AW1. The company successfully raised A$12M before costs through its IPO, with strong support from both domestic and international institutional and mining investors.
Managing director, Dave O’Neill, had this to say: “We are excited to commence trading on the ASX following a strongly supported IPO. We are wasting no time getting started with exploration activities at our stable of high-quality North American base metals projects already underway.”