Proactive - Interviews for investors

Galileo Mining Ltd (ASX:GAL, OTC:GLMGF) managing director Brad Underwood sits down with Proactive’s Jonathan Jackson to discuss a strongly conductive electromagnetic target five kilometres along strike from the Callisto deposit at the Norseman platinum group elements (PGE)-nickel-copper project in Western Australia.

This conductor, identified via a downhole electromagnetic survey, measures approximately 400 metres down-dip and 200 metres in strike length, mirroring geophysical anomalies similar to the 17-million-tonne Callisto deposit.

The company plans to include this new target in an upcoming drilling program in August, as it could represent a geological contact zone prospective for mineralisation.

Underwood said the company continued to develop new drill targets at the Norseman Project as it moves along strike from Callisto deposit. He emphasised the prospectivity of the region and highlighted the minimal previous exploration before the Callisto discovery in 2022.

With $13.6 million in cash, Galileo Mining aims to systematically explore Callisto-style mineralisation within the 255-square-kilometre Norseman tenement package. Planning for the next drilling program is in advanced stages and this is scheduled to commence in mid-August.

Galileo Mining is focused on generating new drilling targets over 20 kilometres of strike surrounding the Callisto deposit and 12 kilometres of strike at the Mission Sill PGE-nickel-copper prospect. Callisto’s resource estimate includes 17.48 million tonnes at 0.82 ppm palladium, 0.15 ppm platinum, 0.045 ppm gold, 0.027 ppm rhodium, 0.20% nickel and 0.16% copper, equating to significant quantities of palladium equivalent, nickel equivalent, and 4E (platinum group elements plus gold).

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Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) CFO Stuart Tarrant joins Proactive’s Jonathan Jackson to discuss completing the final stage of piloting the LieNA® lithium processing technology at ANSTO resulting in the production of lithium phosphate.

This final stage began in June 2024 with partner Mineral Resources Ltd (MinRes) and included ongoing analysis of pilot plant performance and lithium phosphate production. LIT has received an additional A$1.2 million, the fourth drawdown of a A$4.5 million convertible note from MinRes, to fund the demonstration plant engineering study, which remains on track for completion this year.

Under the agreement with MinRes, a milestone was the production of lithium phosphate from spodumene concentrate provided by MinRes. The lithium phosphate produced is being analysed to determine final product specifications for refining, expected to complete by the end of 2024.

The fourth drawdown from MinRes brings the total to A$4.2 million, funding activities for Q1 FY25, including completed piloting and the engineering study by Carnac Project Delivery Services. Subject to analysis and the engineering study, Lithium Australia and MinRes plan to form a 50:50 joint venture to commercialise the LieNA® technology through licensing, with a target royalty rate of 8%. The first licence will be for the demonstration plant, with plans to extend licences globally to spodumene mines.

The company has also secured an initial investment of A$1.8 million from The Lind Partners, with total funding of up to A$7.5 million following two agreements with the asset management firm. By mutual agreement, an additional aggregate amount of approximately A$5.7 million in funding will be available. The funds will accelerate operational improvements within the battery recycling division and support business development activities in the battery materials division. Additionally, LIT has launched a share purchase plan (SPP) to provide further funding.

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Australian Silica Quartz Group Ltd (ASX:ASQ) has started a diamond drill hole within the Quartz Hill mineral resource to collect samples for metallurgical testing. The Quartz Hill MGSi Project is 300 kilometres northwest of Townsville in Far North Queensland and contains a JORC 2012 resource of 17.3 million tonnes of MGSi quartz at 99.04% SiO2. Detailed quality testing and feasibility studies may enable this resource to support Quinbrook’s proposed polysilicon manufacturing facility at the Lansdown Eco-Industrial Precinct in Townsville.

As part of the Quartz Hill MGSi Project Scoping Study, ASQ is conducting metallurgical tests to characterise the expected quartz lump product. The drilling, performed by DDH1 Drilling Pty Ltd, uses a larger diameter PQ core size to a planned depth of 100 metres, twinning RC hole ASQQHRC010. Testing will include crushing, screening, pressure washing, scrubbing and ore sorting.

The work program is funded by Quinbrook's July 2023 contribution to ASQ’s exploration costs. ASQ is developing the project under a Project Development Heads of Agreement with Quinbrook Infrastructure Partners, a specialist energy transformation investment manager.

Quinbrook plans to develop a polysilicon manufacturing facility and large-scale solar and battery storage project at the Lansdown Eco-Industrial Precinct, conditional on its allocation of 200 hectares in 2023. ASQ received $1 million from Quinbrook for the exclusive right to purchase 10 million tonnes of MGSi Quartz at a discount. Quartz Hill is on EPM 26702, 10 kilometres north of Mount Surprise.

#ProactiveInvestors #AustralianSilicaQuartzGroup #ASX #ASQ #Silica #Quartz #MGSiProject #QuartzHill #LansdownEco-IndustrialPrecinct #Townsville #Quinbrook #Polysilicon

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Barton Gold Managing Director Alexander Scanlon joined Steve Darling from Proactive to share exciting news about the company's Tunkillia Gold Project. Situated 550 kilometers northwest of Adelaide, South Australia, the Tunkillia project benefits from existing access tracks on North Well Station, connecting it conveniently to the Tarcoola Road near Kingoonya.

Scanlon revealed that the initial Scoping Study for the Tunkillia Gold Project has demonstrated significant potential. The study outlines a robust plan for a 5 million tonnes per annum (Mtpa) bulk open pit mining and processing operation. This model targets an initial life-of-mine of 6.4 years, extending to an 8-year project life overall. Throughout this period, the project is expected to process a total of 30.7 million tonnes of material, grading an average of 0.93 grams per tonne (g/t) of gold and 2.52 g/t of silver.

Barton Gold's initial processing cost assumptions, considered to be quite conservative, project the Tunkillia Gold Project to deliver strong financial returns. The study indicates competitive all-in sustaining cost (AISC) performance and a payback period of just 1.9 years, despite the initial mine life being set at 6 years.

Moreover, the company has identified multiple areas for potential optimization in terms of process design, capital expenditures, operating costs, and extending both the life of the mine and the materials schedule. These opportunities for improvement highlight the project's promising outlook. Barton Gold is now advancing towards a preliminary feasibility study, aiming to further de-risk the project and maximize its economic potential.

This initial scoping study underscores the significant promise of the Tunkillia Gold Project, positioning Barton Gold for continued success as it progresses through the stages of project development.

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The FTSE 100 rebounded after the shock of Friday’s IT outage while Joe Biden stepping down from the US Presidential race has had little impact.

In early trades, the Footsie was up 41 points at 8,197 with pest control specialist Rentokil initially 12% higher and leading the way on reports it is in the sights of Philip Jansen, the former BT boss. Jansen is said to be lining up a bid with private equity backing.

Ryanair sent airlines into a tailspin with a warning that fares this summer would be materially lower alongside a drop in profits. Rival EasyJet got caught in the turbulence and is down almost 7%.

Bookmaker Entain is doing better after the Ladbrokes owner appointed former DraftKings man Gavin Issacs as its new chief executive while Vodafone has sold another chunk of mobile tower business Vantage, raising €1.3 billion.

#ProactiveInvestors #marketreport #ftse #ftse100 #footsie #biden #entain #ladbrokes #draftkings #tyanair #easyjet #vantage #vodafone #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Triangle Energy (Global) Ltd (ASX:TEG) managing director Conrad Todd joins Jonathan Jackson in the Proactive studio to discuss developments at the Booth prospect in the North Perth Basin.

Triangle, as the operator of the L7 Joint Venture, has taken possession of the Ventia 106 rig, which will drill the onshore Booth-1 well. The rig is mobilising to the site and is expected to start drilling around July 31, 2024. The Booth Prospect comprises multiple oil and gas targets with a total Prospective Resource range of 113 billion cubic feet (Bcf) to 540 Bcf, with a Best Estimate of 279 Bcf (Gross 100%, on-block).

The Booth-1 well is targeting gas at the Kingia-High Cliff reservoirs and has potential for oil or gas in the overlying Dongara and Cattamarra Coal Measures sandstones. The well has a prognosed total depth of 2,900 metres and is expected to take around three weeks to drill. The well will deviate 800 metres to the southeast from the surface location, with a true vertical depth of 2,670 metres.

Triangle is also in discussions to secure a rig for drilling the Becos Prospect in the EP 437 Permit.

Todd highlighted the significance of receiving the Ventia 106 rig, marking the first well to be drilled in their permits in 30 years. Concurrently, plans for drilling the Becos-1 well in the EP 437 permit are also progressing, utilising new 3D seismic data.

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Magnetite Mines Ltd (ASX: MGT) CEO Tim Dobson joins Proactive to discuss pioneering laboratory results showing the potential to produce premium 'Green Iron' feed grade magnetite concentrates from the Razorback Iron Ore Project using saline water. The concentrates achieved grades of 69.9% Fe and less than 2.0% silica + alumina, exceeding current requirements for Direct Reduction Iron (DRI) production.

This development could significantly improve the Razorback Project's economics by reducing the need for fresh water and the costs associated with a large desalination plant. The saline water can be integrated with minimal changes to the existing process flowsheet. The company is seeking legal advice to patent this innovative approach.

The bench-scale testwork demonstrated that saline water could be used to produce DRPF-grade concentrates from a bulk Iron Peak composite sample. Dobson highlighted the technical innovation's potential to simplify the project's water supply needs, potentially eliminating the requirement for a desalination plant by using seawater from the Upper Spencer Gulf.

Further testwork is needed to confirm the efficacy across all parts of the Razorback and Iron Peak deposits. The flotation reagent modifications that led to these results are considered commercially sensitive, and the company is exploring intellectual property protections.

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AuKing Mining Ltd (ASX:AKN) managing director Paul Williams sits down with Proactive’s Jonathan Jackson to discuss the company’s proposed acquisition of a 100% interest in the Myoff Creek Niobium/REE Project in British Columbia, Canada.

This project is notable for its extensive near-surface carbonatite mineralisation, which spans 1.4 kilometres by 400 metres, as revealed by historical exploration. Among the high-grade intercepts recorded are 0.93% niobium and 2.06% total rare earth oxides (TREO). The mineralisation remains open at depth and along strike, suggesting substantial potential for further discoveries and expansion, with maximum detection limits of niobium and cerium found in rock chips about 2 kilometres away from the previously drilled zone.

The Myoff Creek claims are strategically positioned in the South-Central mining region of British Columbia, an area renowned for its rich mineral deposits. The site benefits from excellent accessibility, thanks to well-maintained road infrastructure leading directly to the area. AuKing has already identified drill targets, setting the stage for a comprehensive upcoming work program aimed at further exploration and development.

In addition to these plans, AuKing has proposed a capital raising effort, including a placement of $150,000 and an upcoming rights issue for existing shareholders.

Williams cited strong market interest in the exploration and development of niobium and rare earth elements (REE). He highlighted the project's 40-year history of exploration, including drilling programs that have mapped a significant area of near-surface niobium-REE bearing carbonatite hosted mineralisation. Upon completing the acquisition, AuKing intends to immediately launch a detailed soil sampling and initial drilling program based on the historical data.

#ProactiveInvestors #AuKingMining #ASX #Niobium #RareEarthElements #REE #MyoffCreek #MineralExploration #MiningIndustry #BritishColumbia #Carbonatite #HighGradeIntercepts #ExplorationPotential #MiningAcquisition #StrategicLocation #CapitalRaising #DrillTargets #RoadInfrastructure #CriticalMinerals #SoilSampling #InitialDrilling #MarketInterest

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CuFe Ltd (ASX:CUF) executive director Mark Hancock sits down with Proactive’s Jonathan Jackson to talk about the significant progress the company is making with its Tennant Creek Copper-Gold Project and West Arunta acquisition as the company expands its presence and potential resource base in Australia.

CuFe has provided an update on its Tennant Creek Project, co-owned with Gecko Mining Company Pty Ltd (55% CuFe, 45% Gecko). The project has an existing JORC 2012 resource of 7.3 million tonnes at 1.7% copper and 0.6 g/t gold. Hancock cited the project's potential, given ongoing exploration successes in the region, a robust copper market, and high gold prices.

The company has initiated a detailed technical review to expand existing resources and identify further exploration potential. This review highlighted four high-priority exploration targets and outlined plans to assess heritage and regulatory approvals for an initial exploration program, including about 5,000 metres of drilling.

The review also identified potential to grow the Orlando resource based on existing and historical underground drilling data, with ongoing analysis to define additional targets through reprocessing and interpreting historical geophysical data. CuFe aims to kick off the initial drill program following heritage and regulatory approvals in a bid to add resources and support the future recommencement of mining in this mineral-rich field.

Meanwhile, CuFe has acquired a 64-square-kilometre land parcel in the niobium-prospective West Arunta region of Western Australia. The tenement, E80/6052, is 13 kilometres northeast of CuFe's existing West Arunta Project and 18 kilometres northeast of Lycaon Resources’ Stansmore niobium-rare earth project.

This acquisition increases CuFe's holdings in the West Arunta niobium province to more than 281 square kilometres. A geophysical review has identified two prospective targets in the area. CuFe is negotiating land access with the Parna Ngururrpa Traditional Owners Group to start on-ground work.

The acquisition involved an initial payment of $10,000 in cash and $25,000 in CuFe shares (1,562,500 shares at 1.6 cents per share), with a further $50,000 payment due upon the later of the tenure grant or heritage agreement execution. Additionally, CuFe has had two of its previous tenement applications, E80/5925 and E80/5950, granted by the DEMIRS with a third expected within a month.

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Far East Gold Ltd (ASX:FEG) managing director Shane Menere sits down with Proactive’s Jonathan Jackson to discuss additional high-grade gold assay results – including 20 metres at 7.57 g/t gold from the Victory vein – in its maiden scout drilling program at the Woyla Copper Gold Project’s Aloe Rek prospect area.

Key findings include a 20-metre intersection at 7.57 g/t gold from the Victory vein in hole ARD-009, which also contained 8.5 g/t silver, yielding a 7.67 g/t gold equivalent. Within this section was 11 metres at 13.45 g/t gold and 13.68 g/t silver, and 3.3 metres at 31.64 g/t gold and 26.8 g/t silver.

The project, known for its prospective undrilled copper-gold play, now boasts an increased strike length of 18.5 kilometres. The mineralisation remains open at depth and along strike to the south. Menere highlighted that these results affirm the project's high potential, initially suspected by Barrick, and underscore FEG’s successful drilling and development efforts.

Grab samples from veins 600 metres south showed 15.6 g/t gold and 25.8 g/t silver, suggesting more high-grade extensions. The 12-hole, 1,884-metre drilling program continues to build on these promising results, with Far East Gold holding a 51% interest in the project, increasing to 80% upon feasibility study completion and JORC resource estimate definition.

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