Here’s our roundup of some of the latest developments in the small-cap mining world over the past week.
ASX-listed gold miner Firefinch Limited (ASX: FFX) revealed its intends to raise up to A$25M to support ongoing ramp-up and development activities at the Morila Gold Project in Mali. The company will offer eligible shareholders in Australia and New Zealand the opportunity to participate in a Share Purchase Plan (SPP) of up to A$30,000 per shareholder.
We also heard how BlackEarth Minerals NL (ASX: BEM) has signed a joint venture agreement with leading Indian graphite specialist Metachem to produce expandable graphite. BlackEarth’s managing director, Tom Revy, said, “The signing of this JV is an exciting development in the growth of our company. To form this JV with a world leader of expandable graphite production is a wonderful outcome and this event follows many months of discussions between the executive teams our two companies.”
In terms of developments, Commerce Resources Corp. (TSXV: CCE) reported that it has completed its 2021 field campaign, which has focused on the remaining field components required to support the ongoing Prefeasibility Study (PFS) on the Ashram Rare Earth and Fluorspar Deposit, located in northern Quebec. Centaurus Metals (ASX: CTM) posted that it has secured possession of a further key piece of land covering its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil following the completion of a new Possession Agreement.
Roscan Gold (TSXV: ROS), which has operations in Mali, announced it has received positive results from the metallurgical testwork programme completed on samples from gold prospects at Mankouke South (MS1), Mankouke Center-Kandiole (KN1) and the Kabaya (KB1- KB2) within its Kandiole Projects land package. Also operating on the African continent is Ionic Rare Earths Limited (ASX: IXR), which revealed this week that it has been granted a new exploration permit in Uganda for the Makuutu Rare Earths Project.
The week saw some impressive drill results returned from the labs. Newcore Gold Ltd (TSXV: NCAU) reported that it has encountered multiple wide zones of gold mineralization, including high-grade structures in its current 90,000m drill programme at the Company 100% owned Enchi Gold Project in Ghana. Drilling at the Nyam Gold Deposit at Enchi has intersected high-grade, oxide gold mineralization grading 2.04 g/t Au over 35.0m from surface, including 4.89 g/t Au over 8.0m from 8m. In Australia, Rincon Resources Ltd (ASX: RCR) announced it has obtained further positive assay results from the final 12 holes of its maiden drilling programme at the 100%-owned South Telfer Copper-Gold Project, located in the Paterson Province, Western Australia, including significant high-grades zones up to 17.4g/t Au and 5.31% Cu.
Finally, there was good news for Blackstone Minerals Limited (ASX: BSX), which announced it has entered into a collaborative partnership with UK-headquartered supply chain traceability specialist Circulor Ltd to establish a full Nickel and Cathode Precursor (PCAM) traceability system. The traceability system will have dynamic CO2-e (carbon dioxide equivalent) and environmental, social and governance (ESG) tracking for Blackstone’s Vietnam Ta Khoa Assets, which will be a first in Southeast Asia.
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