News

More evidence that Rio is on to something special puts spotlight back on Winu nearology juniors Antipa and Sipa. Plus, Euroz barracks hard for Legend’s WA nickel-copper discovery

Rio Tinto hasn’t been messing around at its remote Winu copper-gold discovery in Western Australia’s Paterson province. Its latest exploration licence expenditure report, filed under the WA Mining Act, shows Rio spent a massive $79.6 million on the project in the 12 months to October 12, not including the cost of a gravel airstrip.

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Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews).

Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews). The company has A$30 million in working capital and investments due to savvy project sales, and has not raised capital since 2011. Chalice's flagship project is the Pyramid Hill project in Victoria, comprising 5190sq.km in the Bendigo region, where 60 million ounces of high-grade gold has been discovered.

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The first three drillholes at Centaurus Metals’ newly acquired Jaguar nickel sulphide project in Brazil have returned wide, high-grade results (reports MiningNews).

The first three drillholes at Centaurus Metals’ newly acquired Jaguar nickel sulphide project in Brazil have returned wide, high-grade results (reports MiningNews).

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Sunstone Metals says the latest results from its Limon prospect in Ecuador indicate it’s close to a gold-copper porphyry centre (reports MiningNews). The latest Limon drilling returned 40m at 0.1 grams per tonne gold, 0.12% copper and 19 parts per million molybdenum from 863m from downhole. Sunstone said the result indicated drilling was within the outer halo of a mineralised porphyry gold-copper system of significant scale. "The trend is our friend," Sunstone managing director Malcolm Norris told the Resources Rising Stars Summer Series in Sydney.

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Hedley Widdup believes the events of 2019 are setting mining stocks up for another strong run (reports MiningNews). Despite this year feeling like another tough one for many, it has delivered a number of discoveries. "Discoveries are exciting because they come from nowhere," Widdup told the Resources Rising Stars Summer Series in Sydney today. "2019 has seen a number of discoveries come to market - some still have a question mark over them."

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Stavely Minerals (ASX:SVY) has extended shallow, high-grade copper mineralisation at the Thursday’s Gossan prospect within its self-named copper-gold project in Victoria after drilling returned some standout results (reports Stockhead).

Stavely Minerals (ASX:SVY) has extended shallow, high-grade copper mineralisation at the Thursday’s Gossan prospect within its self-named copper-gold project in Victoria after drilling returned some standout results (reports Stockhead). The top hit from the drill program returned 11m at 4.62 per cent copper, 0.57 grams per tonne (g/t) gold and 25g/t silver from a depth of 86m about 40m north of the discovery hole.

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The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days.

The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days. Big capital raisings in comparison to market caps have been popping up across the junior space and outside of gold, it has been kind of unusual because as yet, there has not been much in the way of support from commodity prices.

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If not for a series of significant fund raisings to back expansion moves by gold, nickel and lithium-exposed companies, the past five trading days were largely negative for investors.

If not for a series of significant fund raisings to back expansion moves by gold, nickel and lithium-exposed companies, the past five trading days were largely negative for investors. Saracen Mineral Holdings was the big one this week, attracting $796 million to help pay for a company-changing half-share in the Kalgoorlie Superpit gold mine. Mincor’s $35 million to accelerate nickel developments and ioneers’s $40 million to expand work on its Rhyolite Ridge lithium and boron project in the US. were two other well-supported deals.

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