Proactive weekly mining highlights: Cora Gold, Conroy Gold, Mineral & Financial, Oracle Power, Anglo

18237500 - businessman hand pointing to investment as concept

Cora Gold Ltd (LON:CORA) returned further gold intersections from drilling at its Sanankoro project in the Yanfolila gold belt, Southern Mali.

The primary focus of the drilling was to target shallow oxide extensions beyond the footprint of the existing 5mln tonne JORC resource, which already shows 265,000 ounces of gold.

The results confirm there are significant mineralised extensions beyond the existing resource footprint at Sanankoro.

Conroy Gold and Natural Resources PLC (LON:CGNR) believes the recent drilling underlines its belief it has a major gold zone on its acreage.

Work in the half-year to November on its licences on the Orlock Bridge Fault confirmed gold bedrock in target area 4, a new gold zone in area 1 and gold mineralisation between the Clontibret deposit and Corcaskea site.

This latter development is particularly significant said Conroy, as it suggests there may be a continuous zone of gold mineralisation between these two deposits.

Mineral & Financial Investments Limited’s (LON:MAFL) subsidiary, Canadian-listed Ascendant Resources Inc (TSE:ASND) has filed a technical report for a maiden preliminary economic assessment (PEA) for its Lagoa Salgada project in Portugal to the Ontario Securities Commission. The AIM-listed company said the PEA had outlined “a highly profitable project” with 10.3mln tonnes of measured and indicated resources and 2.5mln tonnes of inferred resources in the north zone. The resource includes zinc, lead, copper, gold and silver.

Oracle Power PLC (LON:ORCP) has highlighted recent talks between the Pakistan authorities and the chair of the China-Pakistan Economic Corridor (CPEC) organisation which, among other things, covered proposals to build a rail line through the Thar desert. Such a project would significantly unlock value at Oracle’s coal mine projects in the desert.

Anglo Asian Mining PLC (LON:AAZ) has updated on the exploration work it’s undertaking on projects in Azerbaijan. Positive exploration results were returned in the fourth quarter of 2019 on three contract areas, Gedabek, Gosha and Ordubad.

Shanta Gold PLC (LON:SHG) reaffirmed production guidance for the current year as revenues and cashflow jumped sharply.

Base Resources Limited (LON:BSE) has hailed a successful ramp up of its mining operations at the South Dune orebody in Kenya as it delivered results for the first half of its current year.

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) has completed the second stage of on-lake construction at its sulphate of potash (SOP) from its Lake Way Project in Western Australia.

Europa Metals Ltd (LON:EUZ) revealed results from a conceptual hydrogeological study and water monitor, as part of its planning for mine development at the Toral lead, zinc and silver project, in Spain.

Kodal Minerals PLC’s (LON:KOD) permit application for its Bougouni lithium project in Mali has gone through the first technical appraisal by the DNGM and is now proceeding to a ministerial commission meeting.

MetalNRG Plc (LON:MNRG) extended an exclusivity period over an oil and gas venture in Romania until the end of March.

Afarak Group PLC (LON:AFRK) said it expects lower losses in 2020 as the South African government and major industry players look to rally round and sort out the “emergency” in the chrome industry.

Anglo Pacific Group PLC (LON:APF)(TSE:APY) plans to focus on investing in commodities that support a more sustainable world, following an investment review. This means that the company will not invest in any more thermal coal projects.

Resolute Mining Limited (ASX:RSG) (LON:RSG) raised approximately A$23.3 million in a well-supported share purchase plan (SPP) which forms part of an equity raising expected to exceed A$194 million.

Oriole Resources PLC (LON:ORR), the AIM-quoted exploration company focused on West Africa, disposed of its 12.27% holding in Tembo Gold Corp. following the sale of 19,975,000 ordinary shares for net proceeds of GBP172,000.

Alien Metals Limited (LON:UFO) raised GBP700,000 in a share placing and subscription to fund what it says is “high-impact exploration” in Mexico and Australia.

The Ministry of Mineral resources in Greenland has confirmed that the Social Impact Assessment submitted by Bluejay Mining PLC (LON:JAY) for its Dundas ilmenite project is compliant with guidelines for the purposes of public consultation related to an exploitation licence.


Please enter your comment!
Please enter your name here