Top-News of the week:
Endeavour Silver with outstanding results of up to 5,069 g/t AgEq from Terronera
Endeavour Silver once more reported outstanding drill results from its Terronera silver project. Infill drilling on the Terronera property in Jalisco state, Mexico, continues to define high-grade, silver-gold mineralization within the Terronera vein system. The main mineralized zone extends over 1,400 meters in length, to 350 m deep and is still open along strike to the southeast and downdip. Recent drilling highlights include 717 grams per ton (g/t) silver and 2.94 g/t gold (923 g/t silver equivalent (AgEq)) over 6.56 meters (m) of true width, including 4,860 g/t silver and 2.99 g/t gold (5,069 g/t AgEq) over 0.39 m true width! These infill drill results continue to confirm high-grade silver-gold mineralization over substantial true widths in the Terronera vein. The deposit is still open for expansion at depth and to the southeast, and the company now has high-priority drill targets identified in several other mineralized, subparallel veins to the north of the Terronera vein. Three drill rigs are currently working on the Terronera property for step-out drilling along the Terronera vein and exploratory drilling of some new targets. Endeavour Silver is now working on a new resource estimate for Terronera.
Market Watch:
Photovoltaics sector heavily raises its silver demand! – Secure now your sample of our exclusive silver report at the Munich Precious Metals Conference!
60% of the global silver demand comes from the industrial sector. Only 40% from the jewelry- and investment-sector. While demand from the investment-sector heavily increased in the last months, there was only one industrial-sector that showed such a heavily increase: photovoltaics! A short time ago the International Energy Agency increased its forecasted growth estimate for renewable energies by 13% until 2021. In 2015 the silver demand from photovoltaics showed a record-high of 78 million ounces. The IEA estimates a demand of 82 million ounces for 2016 and 87 million ounces for 2017. The photovoltaics boom has just started in many countries, wherefore one can anticipate a heavily increasing demand until the next decade.
This is only one topic of Swiss Resource Capital’s Special Report on Silver, which you can secure by visiting our booth at the International Precious Metals & Commodities Show, November 3rd and 4th 2016 at MVG Museum, Ständlerstraße 20, Munich, Germany. We would love to welcome you there!
Company News:
Birimian Limited: Maiden Resource at Goulamina Confirms Large Tonnage and High-Grade Lithium Deposit!
Last week, Birimian Limited reported the maiden JORC-compliant Mineral Resource estimate for the Goulamina deposit, at its Bougouni Lithium Project in Mali. The estimated Mineral Resource at Goulamina is 15.5 Mt @ 1.48 % Li2O, for 229,000 tons of contained Li2O. This positions the deposit as among the highest grade, hard rock lithium deposits of significant size globally today.
This maiden resource estimate is an outstanding result, especially given that first drilling occurred less than six months ago. This provides a strong platform to rapidly advance a scoping study to define the key parameters that will underpin the project Feasibility Study and first Ore Reserve estimate.
Of note, there remains significant potential to substantially expand this maiden resource and improve the modelled grade with additional drilling, particularly at the recently discovered West Zone, where wide and high grade mineralization remains open along strike near surface and at depth. The resource grade of 1.67% Li2O at West Zone is very encouraging, and therefore the company eagers to begin the next phase drilling program, which will commence in late November.
Birimian is in a strong cash position with sufficient capital to fund development activities through the next round of drilling and scoping study. It is expected that the scoping study will be completed by year-end.
Fission Uranium hits further high-grades!
Last week, Fission Uranium reported, that the final summer assay results confirmed new high grade mineralization at the R840W zone presently outside of the Triple R resource area and at the R780E zone, beneath the Triple R deposit, at its PLS property in Canada's Athabasca Basin region. The assay results included hole PLS16-504 on zone R840W (line 915W) with 25.95% U3O8 over 4.0m in 10.03% U3O8 over 11.0m. The wide, high-grade mineralization encountered at the Western end of the 2.63km mineralized trend at PLS highlights the strong expansion potential, on land, towards the high-grade boulder field approximately 2.7km west of the R840W zone. Fission Uranium is now focused on the expansion of the trend westwards.
Advantage Lithium closes 5-million-dollar financing!
A couple of days ago, Advantage Lithium announced that it has completed its non-brokered private placement financing by issuing 8,456,900 units of the company, at a price of 0.60 CA$ per unit to raise gross proceeds of CA$5,074,140. The net proceeds from this financing will be used for working capital to allow the company to finance anticipated corporate overheads, as well as work program commitments toward earn-in obligations and systematically advancing assets of the company's portfolio of 10 projects covering approximately 112,286 acres, all in very favorable mining jurisdictions, including:
- United States (Nevada): five projects covering 17,220 acres in total; water rights in the Clayton Valley:
- Clayton NE: 1,000 acres adjacent to Albemarle (drill program under way);
- Jackson Wash: 3,300 acres (drill ready);
- Gemini: 4,940 acres (drill ready);
- Neptune: 6,320 acres (drill ready);
- Aquarius: 1,660 acres;
- Argentina (Salta): Stella Marys project, 3,637 acres immediately adjacent to Orocobre's high-grade, shallow-depth, lithium brine inferred resource;
- Mexico (Chihuahua and Coahuila): Four projects covering approximately 91,429 acres, held by claim applications.
Sierra Metals delivers high-grade copper intersects from its Yauricocha Mine
Sierra Metals recently released the results of its continuing drill program targeting the maiden discovery of its new high-grade sulphide zone, referred to as the Esperanza zone, located 400 meters north of the central mine area and 100 meters along strike from current mining activities. The results revealed the zone is open on strike and at depth and comes as part of a continuing drill program at this high-priority target at the Yauricocha mine located 150 kilometers southeast of Lima in the Yauricocha mining district (Cordillera Occidental), Peru. The current program reported seven holes drilled with assay results from ALS Minerals Laboratories.
The best intersects were:
- 3.60 m @ 137.04 g/t Ag, 9.44% Pb, 0.20% Cu, 15.89% Zn and 0.21 g/t Au,
- 8.00 m @ 254.57 g/t Ag, 1.91% Pb, 5.85% Cu, 3.36% Zn und 0.13 g/t Au,
- 22.10 m @ 154.38 g/t Ag, 7.56% Pb, 1.03% Cu, 17.43% Zn und 0.35 g/t Au,
- 2.30 m @ 123.41 g/t Ag, 12.18% Pb, 0.42% Cu, 17.58% Zn und 0.25 g/t Au,
- 6.10 m @ 119.80 g/t Ag, 9.91% Pb, 0.15% Cu, 13.87% Zn und 0.29 g/t Au and
- 24.00 m @ 101.61 g/t Ag, 0.64% Pb, 4.75% Cu, 1.27% Zn und 0.81 g/t Au.
Sulliden Mining: Asset company gets large financing
Sulliden Mining holds two main assets: the Troilus Gold Mine and the East Sullivan Project, which both are located in Kanada’s Abitibi Region. Furthermore, Sulliden Mining holds a couple of participations in other mining companies. Among them some 70 million shares of the Australian fertilizer company Aguia Resources. Aguia recently announced an equity-financing of AU$8.5 million. The net proceedings of this financing will mainly be used to complete an Infill drilling program at Três Estradas to commence immediately in order to convert Inferred Mineral Resources to Measured and Indicated Mineral Resources for a Bankable Feasibility Study.
At the very moment, Sulliden Minings share package is worth around AU$6.2 million. Should Aguia be able to convert its resources to a higher level and publish a bankable feasibility study, Sulliden may heavily profit with its share package.
Video: http://www.commodity-tv.net/c/mid,2697,Company_Presentation/?v=296923
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