The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Oriole Resources PLC - Exploration company focussed on West Africa - Completes mapping and rock-chip sampling at Mbe, one of five licences within the company’s Central Licence Package project in Cameroon. Says results have delivered multiple high grades, including 134.10 grams per tonne of gold. Analysis of a further 493 soil samples over Grid Six has returned a single anomalous sample of 257 ppb of gold, but has not extended the 12.5 kilometre long gold-in-soil anomalism at Mbe, suggesting the south-westerly extent of the anomaly has been identified. Oriole is also continuing to review the Ndom and Gamboukou licences to assess their potential to host lithium-bearing pegmatites.
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Premier African Minerals Ltd - Mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe - Says results at Zulu lithium and tantalum project show multiple thick high-grade zones intersected. Adds that consistent progress is being made in the construction of the pilot plant at the asset. Chief Executive Officer George Roach says: ‘We are into the home stretch with pilot plant construction and site activity is frenetic with multiple work streams all targeting the same near-term completion date. Pre-strip has commenced in the initial pit area to be developed. Activity in the pilot plant assembly areas is now on a 24/7 basis. In the absence of any unforeseen issue, I expect that first shipments of SC6 will commence in Q1 as projected.’
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Zinnwald Lithium PLC - German-focused lithium development company - Says exploration at Falkenhain licence in Germany confirms historical drill data, indicating the potential for an additional economic lithium resource. Adds that this could provide a possible feed source for the company’s integrated lithium hydroxide project. Assay results for new drill hole, LiSH-001, at Falkenhain show significant intercepts of thick high-grade lithium, tin, and tungsten mineralisation including 114 metres to 194 metres; average 2,879 parts per million lithium and 492 ppm tin. CEO Anton du Plessis says: ‘While our key focus remains advancing the Zinnwald Project towards a BFS by the end of the year, the proximity to our key Zinnwald Deposit and likely similarity of the geology suggests that Falkenhain could ultimately represent an exciting adjunct to the Zinnwald Project adding to its scale and importance as a domestic German supplier of lithium hydroxide to the growing European battery sector.’
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Empire Metals Ltd - London-based minerals explorer and developer - Says that surface sampling carried out in December 2022 at the Pitfield copper project in Western Australia has confirmed extensive copper anomalism just south of the historic Mt Scratch workings. Has also discovered several very high-grade rock samples in the process. Results include 4.6% copper and 7.15 grams per tonne of silver. The third and final field phase of initial geological mapping and soil sampling programme is now underway.
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Sovereign Metals Ltd - Perth, Australia-based, Malawi-focused mining company - Provides update for exploration at the Kasiya Rutile project in Malawi. Says that drilling results from the company’s targeted deep infill air-core and push tube core drilling program confirms consistency of high-grade rutile and graphite mineralisation at depth. Results include 31 metres at 1.14% rutile and 1.9% graphite, and 25 metres at 1.18% rutile & 2.0% graphite. Infill core push tube drilling of inferred category pits and potential pit extensions is expected to add new blocks of indicated material to the upcoming mineral resource estimate update, targeted for the first quarter of 2023. Sovereign has also resumed trading on the Australian Securities Exchange following a temporary halt. It says this did not affect trading in its shares on the AIM market of the London Stock Exchange, where normal trade continued.
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Panther Metals PLC - Mineral exploration company focused in Canada - Notes positive high pressure acid leach test work results for the Nickel-Cobalt Project in Western Australia, run by Panther Metals Ltd. Testwork confirms final nickel extraction at 93% and cobalt extraction at 74%, and was based on blended sample from six drill holes encompassing the current mineral resource. Adds that the nickel grade is higher in finer fractions, indicating beneficiation may negate the requirement for milling. Further bench test work is now being planned to provide detailed data for future mining studies.
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Mosman Oil & Gas Ltd - Oil exploration, development, and production company with projects in the US and Australia - For the three months ended December 31, reports net production from existing developed projects of 6,212 barrels of oil equivalent. Says that increases at Stanley and Livingston sties partially offset reductions at Winters and Arkoma. Adds that following the success of the development work, the Cinnabar-1 well is now on production and has delivered a material increase in production, which will be reflected in the next quarterly production report. The initial 24-hour flow test rates at Cinnabar were a total of 150 barrels of oil equivalent per day. The well continues to produce at approximately these rates.
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Atlantic Lithium Ltd - African-focussed lithium exploration and development company - Submits a mining licence application for extraction of minerals from the proposed Ewoyaa lithium mine to the Minerals Commission of Ghana. Adds that it has completed the infill diamond core and reverse circulation drilling programme at Ewoyaa to a total of 47,000 metres. Reports assay results for a further 26,423 metres of infill and exploration drilling outside of the current 30.1megatonne at 1.26% lithium oxide mineral resource, providing potential for further resource upgrade. Cash on hand for the quarter ended December 31 was A$19.1 million, or £10.9 million.
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Orosur Mining Inc - South American-focused minerals explorer and developer - Says second quarter net loss narrows year-on-year to $255,000 from $971,000. Adds that progress is being made in sale of Loryser’s plant and equipment. Loryser has successfully finalised the reclamation and remediation works on the tailings dam and has now started a one-year post-closure control phase.
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