Greatland Gold plc (LON:GGP) says drilling has commenced at its Warrentinna project in Tasmania, Australia.
The current drilling programme includes plans for six angled reverse circulation (RC) drill holes each to a depth of 100 metres, for a total of approximately 600 metres of RC drilling. The programme will test for extensions to mineralisation at Derby North and test for mineralisation below historic workings in the Golden Mara area.
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Churchill Mining (LON:CHL) says the company has not yet received the ICSID tribunal’s decision or award, nor notice of when the decision or award will be issued. The company has written to the ICSID Secretariat to request an update and will revert with further information as soon as possible.
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Scotgold Resources Ltd (LON:SGZ) today held a successful auction in Edinburgh of Scottish gold; gold mined and processed at its Cononish gold and silver mine near Tyndrum.
This is the first gold ever mined commercially in Scotland and averaged s £4,557.9 per ounce, a premium of 378% over the current spot price of £953.
The gold was sold in the form of ’rounds’, each stamped with the Scottish Gold Mark of the stag’s head and bearing a unique serial number corresponding to a chain of custody system certified by the Edinburgh Assay Office.
The gold rounds have been minted by Baird & Co Bullion Merchants and the sealed bid auction was supervised by the accountancy and business advisory firm Scott-Moncrieff, with consultancy firm The Dragonfly Initiative managing the marketing of the gold pieces.
Chief executive Richard Gray said: “This unique and historic event is the first demonstration of our ability to attract a premium for Scottish Gold. The next opportunity to show the continued support for this precious metal from the Highlands will be the conclusion of agreements with members of the Scottish jewellery trade, who appreciate the value that can be added to their products by the proven provenance of the stag’s head Scottish Gold Mark. We expect to release news of these sales in the new year.”
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Ariana Resources (LON:AAU) has issued an update on construction of the Kiziltepe mine within the Red Rabbit gold-silver project in Western Turkey.
Kiziltepe is being advanced towards production through a 50:50 joint venture with Proccea Construction Co. Construction of the project is expected to be completed by mid-December 2016 with production commencing during the weeks thereafter.
– Process CIL/CIC and ADR piping and electrical work fully completed, with the process plant now under preparation for operational start-up.
– Mining and stockpiling of Run of Mine ore continuing, with drilling and blasting under way on the Stage 1 open-pit at Arzu South.
– Dry commissioning in progress with crushers and milling underway; wet commissioning of process plant commencing with water tests.
– Back-up tailings pumps installed and ready for full-cycle wet commissioning of Tailings Storage Facility. – Dam wall complete and installation of geomembrane for Stage 1 TSF now largely complete; TSF to be ready for inspection by the authorities ahead of start-up during late December.
– Production expected to commence once the TSF installation has been approved and a routine Operations Permit has been issued.
– The Company is considering several accelerated work programmes on its projects to enhance its future production profile once Kiziltepe becomes operational.
Managing director Dr. Kerim Sener said: “We are very pleased to report that construction of the Kiziltepe Mine is largely completed and is expected to become operational within weeks. Dry and wet commissioning is underway and it is expected that the TSF will be completed during mid-December ready for final inspections ahead of production start-up. We wish to commend our project partners, Proccea Construction, for completing the project substantially on time and on budget
“As Kiziltepe approaches its first gold pour, we remain focused on further enhancing the project through the drilling of potential resource extensions and in developing several satellite prospects aiming to add to our production profile and to provide increased optionality on our resource base.
“This will require further drilling programmes and project development work, including additional feasibility studies, particularly at Kepez, Kizilcukur and ultimately at Tavsan. We are focused on building on our production profile to reach a target of 50,000 oz per annum, particularly once Tavsan is developed. We are also aiming to increase overall mine life across the Kiziltepe Sector and to leverage the use of the Kiziltepe infrastructure as we consider the development of Tavsan.”
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Horizonte Minerals’ shareholders have approved the previously announced £9 million placing to fund a feasibility study at its 100% owned Araguaia nickel project in Brazil.
Chief executive Jeremy Martin said: “I am pleased that following approval from shareholders we will now close the £9 million fundraise. The fundraise has demonstrated strong support from both new and existing UK and Canadian institutional investors.
“The proceeds combined with the existing cash position ensure that we have a robust balance sheet as we start the Feasibility Study on the Araguaia project which we are developing as a Tier 1 nickel project in Brazil. “Activity is currently underway on the next phase of the permitting to obtain the Installation Licence, as well as a number of the work streams that will link into the Feasibility Study. The main contracts are due to be awarded in Q1 2017 as we work to advance the Project through the Feasibility Stage during the course of 2017. We look forward to keeping shareholders updated with the Company’s development.”
It is expected that the admission of 374,000,000 of the placing shares under the placing agreement will become effective at 8.00 a.m. tomorrow.
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Mariana Resources (LON:MARL) has begun the drilling of an initial 7-hole diamond drill programme at its 100%-owned Ergama copper-gold project in Balikesir Province, western Turkey.
The diamond drilling is being undertaken by drill contractor Ortadogu Drilling, and is expected to be completed by early-January, 2017 (with assay results expected Q1, 2017).
The main targets to be tested include near-surface, porphyry-style copper-gold mineralisation within the central portion of the Ergama claim block, in addition to peripheral high grade vein / fault-hosted gold-silver mineralisation.
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Avocet Mining (LON:AVM) says shipment #315 containing approximately 6,100 ounces of gold left Inata on Friday and successfully passed through customs at Ouagadougou airport.
The gold is currently in transit to Rand Refinery in Johannesburg. Discussions are continuing to secure the release the 1,400 ounces of shipment #314, which currently remain under seizure.
(LON:AAU) Ariana Resources PLC share price was +0.03p at 1.68p
(LON:BEM) Beowulf Mining PLC share price was +0.13p at 5.38p
(LON:BKY) Berkeley Energia Ltd share price was 0p at 46.5p
(LON:CEY) Centamin PLC share price was -1.85p at 129.75p
(LON:CHL) Churchill Mining PLC share price was +0.38p at 33.25p
(LON:CZA) Coal of Africa Ltd share price was +0.21p at 3.85p
(LON:FDI) Firestone Diamonds PLC share price was 0p at 49.75p
(LON:FRES) Fresnillo PLC share price was -45.5p at 1232.5p
(LON:GEMD) Gem Diamonds Ltd share price was +2.88p at 103.88p
(LON:GGP) Greatland Gold PLC share price was +0.02p at 0.17p
(LON:HOC) Hochschild Mining PLC share price was +0.7p at 216.2p
(LON:HZM) Horizonte Minerals PLC share price was 0p at 2.4p
(LON:KMR) Kenmare Resources PLC share price was -2.25p at 247.5p
(LON:SGZ) Scotgold Resources Ltd share price was +0.02p at 0.62p
(LON:VED) Vedanta Resources PLC share price was -8.75p at 859.25p
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