The buzz surrounding Rio Tinto’s secretive exploration camp in a remote corner of Western Australia has gathered further momentum, with mid-tier miner Independence Group agreeing to pump in almost $17 million to join the hunt in the region (reports The Australian).
Pilbara Minerals is the latest WA miner increasing its commitment to meet lithium demand for batteries to support renewable energy and power electric vehicles with a $231 million expansion of its Pilgangoora lithium project (reports The West Australian).
Fresh from its merger with Excelsior Gold, revitalised Eastern Goldfields player Spitfire Materials has this morning delivered a 2.6 million ounce consolidated resource for its Bardoc project outside Kalgoorlie, which it says gives it a good foundation for development of a new mid-tier gold producer (reports MiningNews).
The gold price has most likely bottomed and is expected to climb in 2019, but it’s not out of the woods yet, as investment sector demand remains low, according to Refinitiv’s latest GFMS Gold Survey (reports MiningNews).
Refinitiv, formerly Thomson Reuters' financial and risk business, said the gold price reached US$1174 per ounce in mid-August, its lowest point since the start of 2017, but has since recovered to $1230/oz.
It forecast an average price of $1224/oz in the December quarter and an average of $1285/oz for 2019.
PolarX's promising Alaska Range project has had its potential for an open pit resource boosted with the latest drilling in Alaska returning a hit of 20.2m at 1.1 grams per tonne gold, 0.3% copper and 5.3gpt silver from near‐surface - just 850m from Zackly (reports MiningNews).
Given the deposit is open in all directions, the latest success may be connected to the inferred resource at Zackly: 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface.