Top-News of the week:
Birimian Limited announces unbelievable drill results!
A couple of days ago, Birimian Limited announced more outstanding drill results from its Bougouni Lithium project.
Therefore, the company intersected the following results at the Goulamina West Zone:
- 82m @ 1.64 % Li2O from 18m
- 51m @ 1.93 % Li2O from 127m
including 22m @ 2.23 % Li2O
- 49m @ 1.68 % Li2O from 89m
Including 13m @ 2.09 % Li2O
- 36m @ 1.70 % Li2O from 91m
including 10m @ 2.03 % Li2O
The West Zone remains open along strike and at depth. Furthermore, there is a strong potential to add significant tonnages of shallow, high grade lithium mineralisation with more drilling. A resource evaluation and project studies have been commenced. A maiden JORC-compliant resource is expected in October.
News: Birimian project update
Video Interview: Winton Willesee interview about Birimian
Market Watch:
Chinas copper imports dropping – Upward trend still intact!
China showed weaker import and export data, than expected. Especially the copper imports dropped heavily! All in all, china imported 340,000 tons of copper in September 2016, which was 25% less than in September 2015. At the same time, this was the weakest import rate since February 2015. Though, the copper imports show some decline since the beginning of 2016. While there have been imported 480,000 tons per month in the first quarter, this number dropped to 430,000 tons per month in the second and 350,000 tons per month in the third quarter of 2016. Simultaneously, China imported 15% more copper concentrate (1.39 million tons) in September, which indicates, that the Chinese copper production has been raised. Despite the copper price again dropped to around US$2.10 per pound, the recent upwards-trend, which was started in January 2016, is still intact.
Video: Dr Alistair Cowden about copper markets
Company News:
Fission Uranium with another high-grade expansion at Patterson Lake South!
A couple of days ago, Fission Uranium announced, that assay results confirm the strongest high-grade mineralization to date at the R1620E zone and further high-grade holes at R840W zone at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. Both zones are presently outside of the Triple R resource area. The assay results include hole PLS16-500 on zone R1620E (line 1545E) with 9.5m @ 13.56% U3O8 within a larger interval of 27.0m @ 5.0% U3O8. The wide, high-grade mineralization encountered at both zones, continues to highlight the strength and prospectivity of the 2.63km mineralized trend at PLS - the largest lateral footprint in the Athabasca Basin region.
The recent results include the highest-grade mineralization seen to date at the R1620E zone, as well as strong grades at the R840W zone. Both of these shallow-depth, high-grade zones are outside of the current resource estimate for the Triple R and remain open in multiple directions.
News: Further high grades east and west of trend!
A short time ago, Klondex Mines announced drill results from its Hollister Mine. The highest grade was 18.36 ounces of gold-equivalent per ton (opt) over 1.7 ft, or 629.6 g/t over 0.5 m.
The most important drill results from Gloria West:
- GLOR15-034: 4.18 opt AuEq over 8.4 ft, or 143.3 g/t over 2.6 m
- Including 18.36 opt AuEq over 1.7 ft, or 629.6 g/t over 0.5 m
- GLOR14-001: 2.42 opt AuEq over 2.2 ft, or 83.1 g/t over 0.7 m
- GLOR14-001: 3.63 opt AuEq over 0.5 ft, or 124.3 g/t over 0.2 m
- GLOR15-006: 3.59 opt AuEq over 1.1 ft, or 123.0 g/t over 0.3 m
- GLOR15-010: 1.39 opt AuEq over 7.2 ft, or 47.8 g/t over 2.2 m
- Including 2.48 opt AuEq over 3.3 ft, or 85.2 g/t over 1.0 m
- GLOR15-011: 2.20 opt AuEq over 1.4 ft, or 75.6 g/t over 0.4 m
- GLOR15-020: 1.43 opt AuEq over 4.1 ft, or 48.9 g/t over 1.2 m
- Including 8.07 opt AuEq over 0.7 ft, or 276.7 g/t over 0.2 m
- GLOR15-025: 3.85 opt AuEq over 0.6 ft, or 132.0 g/t over 0.2 m
- GLOR15-026: 2.20 opt AuEq over 2.5 ft, or 75.32g/t over 0.8 m
- GLOR15-032: 3.74 opt AuEq over 1.7 ft, or 128.2 g/t over 0.5 m
The recent drill holes encountered multiple veins and extended the Gloria vein system approximately 800 ft to the West and approximately 300 ft vertically. The Gloria vein system remains open up and down dip and along strike to the West. Klondex intends to infill drill the Gloria vein system in Q4 2016 to develop a Mineral Resource estimate and continue stepping out to the West.
Furthermore, the company intends to do an infill drilling program at the widely spaced drill holes of the 2008 discovered Hatter Graben from surface to develop a Mineral Resource estimate. One of the historic drillings discovered 268.0 g/t over 0.4 m in 2008.
Please notice: We are speaking about gold-equivalent grades, not silver grades!
News: KDX production and drill results
A couple of days ago, Inca One Gold reported, that it has closed the second and final tranche of its non-brokered private placement for gross proceeds of CAD$3.1 million by the issuance of 12.4 million units at a subscription price of CAD$0.25 per Unit. Insiders of the Company have subscribed for 3.7 million Units under the Private Placement. The net proceeds from the Private Placement will be used for purchases of mineral, inventory supplies and materials, select debt repayments, and for general working capital purposes, as applicable.
Furthermore, Inca One Gold announced, that SUNAT, the Peruvian tax and customs authority, has issued the second and final tranche of Inca One’s outstanding IGV/VAT refund. This cheque, delivered on October 3, 2016 by SUNAT, in the amount of approximately S/1.25 million (the equivalent of approximately US$363,000 at current exchange rates) represents the Company’s remaining filing outstanding from 2015. Earlier this year on June 18, 2016, and as reported in the Company’s July 31, 2016 financial reports, Inca One had received its first tranche refund cheque in the amount of approximately S/2.2 million (the equivalent of approximately US$661,000). On June 30, 2016, SUNAT closed the VAT audit of Inca One’s wholly owned subsidiary Chala One SAC.
News: Inca One PP oversuscribed
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