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 the last seven days, Talisker Resources Ltd. (TSX: TSK | OTCQX: TSKFF) has entered into a royalty agreement with Sprott Resource Streaming and Royalty Corp. in relation to the company’s wholly owned Bralorne Gold Project.
Terry Harbort, president, and CEO of Talisker, stated, “This non-dilutive funding package delivers a major catalyst to Talisker, providing the necessary capital for the pathway to long-term production at Bralorne.”
“The flexible deal provides the necessary upfront funds for infill drilling and development while protecting the project’s considerable resource and exploration upside with buyback and capping optionality. Following on from our strong resource statement earlier in the year, we look forward to advancing Bralorne to the next stage.” Mr Harbort said.
Under the terms of the agreement, Sprott will pay the company up to US$31,250,000 for a net smelter returns royalty covering all minerals produced from the project.
Additionally, Marvel Discovery Corp. (TSXV: MARV) and Falcon Gold Corp. (TSXV: FG) have agreed to option their interests in the property to Carmanah Minerals Corp. (CNSX: CARM). The companies jointly hold 35,050ha located along the Baie Verte Brompton Line (BVBL) in Central Newfoundland.
Carmanah recently announced the acquisition of the Hare Hill Pluton Rare Earth Project covering 4,050ha in Western Newfoundland. The property is directly contiguous to the recent Bottom Brook Acquisition by York Harbour Metals Inc. announced 21 December 2022.
New exploration and development
American West Metals Limited (ASX: AW1) has announced the results of a high-resolution ground gravity survey that was completed over the Storm Copper project on Somerset Island, Nunavut.
The gravity survey is interpreted to have defined a series of dense features that are spatially associated with the interpreted graben fault architecture and known copper sulphide mineralization at Storm.
These geological features closely adhere to the typical sediment-hosted copper model as seen in the large copper deposits of central and southern Africa and highlight the exceptional exploration potential of the area.
Also in exploration and development, Kuniko (ASX: KNI) has confirmed the completion of the first stage of field exploration activities at its Fraser and Mia North projects in James Bay, Quebec, Canada.
CEO, Antony Beckmand, provided an update in the context of the recent wildfires in the region, “Kuniko expresses its support for the ongoing Canadian efforts to combat these wildfires and extends its gratitude to the firefighting personnel and first responders”.
“We are pleased to confirm that the first stage of field exploration was successfully completed on schedule in early June, prior to the outbreak of the recent wildfires.” Said Mr. Beckmand.
Drilling results
Iceni Gold Limited (ASX: ICL) has obtained a number of very high-grade rock chip assay results from the outcropping gold bearing vein in the Christmas Gift anomaly at Everleigh Well in Australia.
The high-grade vein is located within a cluster of gold prospectivity indicators and is hosted by altered sediments with boxworks after sulphides, and fieldwork is ongoing to track the extent of this vein along strike.
The Everleigh target area will be prepared for future exploration drilling.
Mako Gold has also announced high-grade gold assay results from its first RC drilling at the Gogbala South Prospect, at its 90% owned flagship Napié Project in Côte d’Ivoire.
The company has received initial assays from the first pass wide spaced 10,000m drilling programme.
Managing director, Peter Ledwidge, said, “The maiden drilling programme at Gogbala South has returned some highly encouraging results. Considering that spacing of drill fences is 400m, we consider this to be a very good start for Gogbala South and are looking forward to further drilling to extend mineralization along strike and at depth.”
Other company news
In other news, Ionic Rare Earths Limited (ASX: IXR) continued to unveil the progress achieved at Ionic Technologies International Ltd facility in the UK, and the development of a magnet recycling demonstration plant to scale up the technology.
IonicTech is a 100% owned subsidiary based in Belfast UK, which the company acquired in H1 2022. IonicTech has developed rare earth element separation and refining technology and applied this to the recycling of spent permanent Neodymium-Iron-Boron (NdFeB) magnets.
In September 2022, IonicTech was awarded a grant of £1.72M from the UK Government’s Innovate UK Automotive Transformation Fund Scale-up Readiness Validation (SuRV) programme, to develop a demonstration scale magnet recycling plant- a significant step towards securing the UK supply of critical rare earth metals for EV manufacture.
