Millennium Mineral today anounces that it has discovered a new 2.25 km-long zone of mineralisation at its Nullagine Gold Project in WA’s Pilbara. Drilling results highlight the strong potential to establish open pit operations along this trend, which stretches from the All Nations North deposit in the north-east to the Hopetoun deposit to the south-west.
The opening of a $640 million copper mine near Cloncurry is another sign Queensland has weathered the storm of a worldwide resources price slump. Minister Assisting the Premier on North Queensland Coralee O’Rourke said at the official opening of CuDeco’s Rocklands Copper Mine was good news for the economy and for the region.
Perth Gold miner Perseus Mining today reported an increase in gold production during its last quarter at its Edikan gold mine, in Ghana, on the back of improved mill performance. Gold production for the quarter was up 9% on the June quarter to 43 776 oz, with Perseus telling shareholders on Monday that the company was on track to achieve its full-year production guidance of between 80 000 oz to 100 000 oz of gold.
Today South32, the world's biggest producer of manganese, said it more than doubled its cash on hand in the September quarter due to a cost cutting drive and as commodities prices recovered.
"Stronger commodity prices and cost saving initiatives delivered a further $US239 million increase in our net cash position to $US551 million, despite the impact of annual payments that followed year end and the typical lag in commodity pricing," chief executive Graham Kerr said.
Today Evolution Mining Limited advised that it has entered into a binding agreement with Newcrest Mining to acquire the Marsden copper-gold project.
Doray Minerals Ltd announced today strong earnings and record cash flow for the 2016 financial year, whilst funding and building the Company’s second high‐grade gold mine at Deflector.
Blackham Resources Ltd announced today the latest results received from underground drilling at the Bulletin mine with drilling from the Bulletin Decline continuing to produce excellent results between the historical stopes including:
6.0m @ 26.4g/t Au
15.6m @ 7.51g/t Au
8m @ 7.05g/t Au
Millennnium's latest drilling at Little Wonder outlines high grade gold intersections over a 850m strike. Drilling results obtained grades up to 19 gpt which helps to fullfil Millennium’s strategy to grow mine life at its Nullagine project. The Little Wonder deposit is located approximately 25 km north east of the Project’s processing plant and forms part of the Millennium’s Camel Creek mining centre.
Over the past few years, Metals X has made a number of shrewd acquisitions and has built a formidable, diversified mining company. It has three operating gold projects, four process plants with 5.5mtpa combined capacity and has built a gold resource base of 15.4 million ounces and ore reserves of 2.89 million ounces. It currently produces at a run-rate of 220,000 ounces per annum and has a clear plan to double this over the next few years.
Regis today announced its Maiden Resource at Tooheys Well of 547,000 ounces. Tooheys Well is located 2.5km south of the Garden Well gold mine and existing 5mtpa processing plant. Regis is currently drilling both immediately north and south of the 750 metres of strike covered by the resource. Regis Chairman Mark Clark said “It is very exciting to see the latest phase of our organic growth strategy deliver a 547,000 ounce maiden gold resource at the Tooheys Well project.
