Latest news with #exploration
News.com.au
29 minutes ago
- Business
- News.com.au
Resources Top 5: It's ‘Up There Cazaly' as gold drilling kicks off at Duke of York
A 2000m RC drill program will test beneath old gold workings and attempt to validate historical results at Duke of York Manuka Resources intends to restart the Wonawinta Processing Plant to produce silver and gold Ausgold is busy at the Katanning gold project with drilling, a DFS and permitting Your standout small cap resources stocks for Friday, June 20, 2025 Cazaly Resources (ASX:CAZ) It has been 'Up There Cazaly' for junior gold explorer Cazaly Resources, jumping to 2.6c, an increase of 30% on Thursday's close, before closing up 15% at 2.3c. In homage to the stirring AFL song, Cazaly rose above the pack of ASX juniors after starting drilling this week at the Duke of York prospect in the Goongarrie gold project. A 2000m RC drill program will test beneath old gold workings and attempt to validate historical results. After receiving approval, drill site preparation was completed last week in order to facilitate the first phase of RC drilling, which kicked off this week. The initial phase of drilling is designed to validate historical drill intercepts including 13m at 3.5g/t and 8m at 10.7g/t. This drilling will also inform the next phase of RC drilling to further test for gold mineralisation along strike and down plunge. After Duke of York, Cazaly Resources (ASX:CAZ) plans to drill the Star of Goongarrie prospect. Cazaly's managing director Tara French said: 'I am extremely pleased to announce that drilling has commenced at Duke of York, the first of many gold targets to be tested in this highly prospective district. 'Our team has worked extremely hard to obtain approvals which places us on the ground less than three months after exercising the option to earn up to 80% of the Goongarrie Gold project with Brightstar Resources. 'It's a very exciting time to be drilling beneath historical gold workings in the Eastern Goldfields, and we can't wait to see the results of this first drilling campaign.' Previous drilling at Duke of York was completed in 2001 by Red Back Mining NL in joint venture with Goldfields Exploration, when the gold price was circa US$300. There were 23 RC holes drilled for 2,084m. In 2011 Metaliko Resources completed limited work at Duke of York with three RC holes drilled for 270m. The Duke of York and Star of Goongarrie prospects are priority target areas with anomalous gold mineralisation localised in a structurally complex zone within the Bardoc Tectonic Zone at the junction of two constituent faults. Goongarrie is in the northeastern goldfields, 90km north of Kalgoorlie, and is easily accessible via the Goldfields Highway that runs along the western boundary of the project area. The project consists of 70km2 of greenstone sequence within the Kalgoorlie Terrain. Manuka Resources (ASX:MKR) (Up on no news) With silver and gold production in its sights in the Cobar Basin of NSW as a time of buoyant markets for the safe-haven metals, Manuka Resources intends to restart the Wonawinta Processing Plant that is on active care and maintenance. The silver will come from stockpiles and open pits at and around the Wonaminta plant, south of Cobar, while most of the gold will come from stockpiles at the Mt Boppy east of the traditional mining town. A 10-year Life of Mine plan will see the 1Mtpa Wonaminta processing plant refurbished and 13.2Moz of silver produced supported by gold credits with production scheduled to start in the first quarter of 2026. Restart costs are estimated at A$18.9m including the addition of a deslime circuit and dewatering circuit to the plant to enhance performance. This LOM plan has been estimated to provide Manuka Resources (ASX:MKR) with annual EBITDA of $22M at an average cost of A$35/oz silver for an NPV8 of A$101m and IRR of 109%. Wonaminta project comprises two existing and three planned open pits and has historically produced 3.2Moz including 382,000oz by Manuka between 2022 and 2023. The total 38.5Mt resource at the project comprises 38.3Mt at 41.3g/t Ag in ground and 200,000t at 60g/t Ag and 0.07g/t Au in ROM stockpiles. Mining will start in April 2026 and will see production from the existing Manuka and Boundary pits as well as the new Belah, Bimble and Pothole pits. Gold ore from Mt Boppy stockpiles will be hauled to Wonawinta and blended with silver ore during the first two years of production to deliver a payable gold credit. Mt Boppy was historically one of NSW's richest gold mines, having produced ~500,000oz gold at ~15 g/t. It is on a granted Mining Lease and has an existing 48-bed mining camp and ancillary infrastructure. The resource stands at 2.6Mt at 1.32g/t Au with 400,000t at 4.23g/t in-ground and 2.2Mt at 0.84g/t in rock dumps, tailings and stockpiles. Manuka said there were also opportunities to extend the resource beneath the existing open pit and along strike and en-echelon of the existing deposit. The company also has a large vanadium-rich iron sands resource offshore of the Taranaki Bight in New Zealand and is advancing the Taranaki VTM Project through the NZ approvals process. Manuka shares reached a high of 4.15c, a 12.17% increase on the previous close. Ausgold (ASX:AUC) At the Katanning gold project in WA's Great Southern region, Ausgold has defined one of the state's largest undeveloped resources of 3.04Moz of gold at an average grade of 1.06g/t including higher confidence measured and indicated resources of 2.42Moz and an ore reserve of 1.28Moz at 1.25g/t. That is enough for a plant with proposed throughput of 3.6 million tonnes per annum to comfortably sustain annual production of 136,000oz of gold for an initial 10-year mine life. A major ~19,000m drill program is underway including 12,000m of RC drilling proximal to the KGP designed to de-risk the first 18 months of production and grow the mineral resource. The infill drilling has delivered near-surface gold intercepts such as 14m grading 4.58g/t gold from 29m in the Central Zone that support the de-risking strategy and high-grade results such as 10m at 10.55g/t gold from 42m in the Southern Zone that support growth potential. Likewise, drilling has extended the Datatine high-grade shoot in the Northern Zone by ~240m down-plunge after returning 6.6m at 3.4g/t gold from 362m, reinforcing its potential as a high-grade underground prospect that remains open down-plunge. Drilling at regional prospects has also intersected broad gold zones, which reinforce Ausgold's belief in the prospectivity of its regional growth pipeline. Shares reached 74.5c, a 4.93% increase on the previous close before ending the trading day at 71c. Ausgold (ASX:AUC) is putting the final touches on a definitive feasibility study which is due for release before the end of June. 'It's starting to look really good, taking shape. I think it's going to be a really strong project,' executive chairman John Dorward told Stockhead. He said the feasibility study was a big step towards putting a milestone out in the public domain and it would be a critical step on the right path for the company. Besides the DFS, Ausgold is focused on permitting. 'We will have our initial application in by the end of this month to start the permitting clock, which we think is around a nine-month timeline,' he said. The current Katanning project is a starter kit for what Ausgold believes will be a multi-decade asset. The company's large landholding means there is plenty of the greenstone belt still to explore for large new gold deposits. 'We have started to actively explore that. We have enough to build a very attractive project. today, but we think it's just the early innings and very much just the starter for what we think will ultimately be there,' Dorward said. Peak Minerals (ASX:PUA) Investors responded positively to Thursday's news from Peak Minerals of a rare earths discovery, including high-value monazite, at the Minta rutile project in Cameroon. After rising to a four-year high of 2.4c on the day of the announcement, PUA today exceeded that, hitting 2.5c, a lift of 13.64% on Thursday's close. The discovery at Minta Est prospect stands to boost the economics of the heavy minerals package at Minta as monazite trades at about three times the value of rutile and zircon. Sampling at Minta Est returned Heavy Mineral (HM) results along with mineral assemblages and rare earth element distribution results. Assays were received from an additional 36 residual and 11 alluvial holes at Minta Est over an initial 121km2 and further assays are pending. The average depth of all holes reported on Minta Est to date is 4m, with all holes intersecting mineralisation from surface. Sampling returned grades of 0.5%-1.2% TREO from free-dig material in monazite separated by conventional mineral sands processing methods. Recent and historical samples show assemblages of up to 73% monazite, up to 35% rutile and up to 28% zircon at Minta Est. 'It is very exciting to release these new drilling assay results representing an entirely new high-grade discovery at Minta Est, located across 121km2 in the northeast portion of Minta rutile project,' Peak Minerals chief executive officer Casper Adson said. 'Monazite makes up to 73% of the heavy mineral assemblage at Minta Est, positioning the project as a potential high-value, world-class asset. 'Importantly, the separated monazite contains up to 22.5% NdPr and 2.7% DyTb – key magnet rare earths critical to the global energy transition.' Hawthorn Resources (ASX:HAW) (Up on no news) Although it has no fresh news, explorer Hawthorn Resources made a positive move, lifting 28.3% to 6.8c. After converting its 19.6% equity interest in the Mt Bevan magnetite project to a 1% FOB royalty, the company is primarily focused on gold at the Trouser Legs 70:30 joint venture with Gel Resources, including the Anglo Saxon project. Anglo Saxon, which has a mineral resource of 157,000 ounces at 6.1g/t, is at Pinjin, about 140km northeast of Kalgoorlie and to the east of Northern Star's Carosue Dam project. Given the prevailing higher gold prices, the JV partners earlier this year completed a revised pit optimisation study as they assess development options for Anglo Saxon. Outcomes of this study are assisting the JV in discussions with third parties aimed at determining the next stage of development and maximising project returns. An 8000m RC drilling program has been designed to infill the upper levels of the southern extension of the resource and de-risk the first stage of any mining of a future cutback. Tendering and a Program of Works have been approved and drilling is expected to take place during the September quarter of 2025.
News.com.au
6 hours ago
- Automotive
- News.com.au
Car giant's space fight with Musk
One of the world's biggest car makers has joined Elon Musk in the race to the stars. Honda has officially entered the space race alongside Musk's Space X, after Japan's second largest carmaker announced it had successfully launched a 'resusable rocket prototype'. In the same week, a Space X rocket dramatically blew up while preparing to take flight, Honda showed it was serious about its space exploration ambitions, first mentioned four years ago. Honda R&D, which is a subsidiary of Honda Motor Co. said it 'conducted a launch and landing test of an experimental reusable rocket developed independently by Honda'. The rocket, which was 6.3m long, 85cm in diameter and weighed 1312kg, reached an altitude of 271.4m and landed within 37cm of the target touchdown point after a flight of 57s. According to Honda R&D, the purpose of the test, conducted at a Honda facility in Taiki Town on Hokkaido, the northern most of Japan's main islands, was the 'establishment of key technologies necessary for a reusable rocket'. 'This test marked the first launch and landing test conducted by Honda with an aim to demonstrate key technologies essential for rocket reusability, such as flight stability during ascent and descent, as well as landing capability,' Honda said in a statement. 'Through this successful test, Honda achieved its intended rocket behaviours for the launch and landing, while obtaining data during the ascent and descent.' Honda announced in 2021 that it was 'pursuing research and development in the field of space technologies' with the thought that its discoveries could also be used in Honda vehicles. That includes in regard to automated driving systems and sustainable transportation. Honda is aiming at a suborbital launch by 2029. 'We are pleased that Honda has made another step forward in our research on reusable rockets with this successful completion of a launch and landing test,' Global CEO of Honda Toshihiro Mibe said. 'We believe that rocket research is a meaningful endeavour that leverages Honda's technological strengths. 'Honda will continue to take on new challenges—not only to offer our customers various services and value through our products, while addressing environmental and safety issues, but also to continue creating new value which will make people's time and place more enjoyable.'
Yahoo
10 hours ago
- Business
- Yahoo
NGEx Announces Voting Results from Annual General Meeting
VANCOUVER, BC, June 19, 2025 /CNW/ - NGEx Minerals Ltd. ("NGEx" or the "Company") (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce the voting results from the Annual General Meeting of the Company held on Thursday, June 19, 2025 (the "Meeting"). PDF version A total of 130,560,014 common shares were voted at the Meeting, representing 63.06% of the issued and outstanding common shares of the Company at the record date May 8, 2025. Shareholders voted in favor of each of the following items of business at the Meeting: Election of Directors % Votes For % Votes Against William Rand 99.71 0.29 Adam Lundin 99.03 0.97 Wojtek Wodzicki 99.89 0.11 Cheri Pedersen 91.93 8.07 Neil O'Brien 92.89 7.11 Alessandro Bitelli 92.89 7.11 Erin Johnston 95.63 4.37 Joyce Ngo 100 0 Appointment of Auditors % Votes For % Votes Withheld PricewaterhouseCoopers LLP 100 0 Detailed voting results for the Meeting are available on SEDAR+ at About NGEx Minerals NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-gold project located approximately nine kilometres northeast in Chile's Region III. Both projects are located within the Vicuña District, which includes the Caserones mine, and the Josemaria and Filo del Sol deposits. NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project, subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 30% owner of the operating Caserones open pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corporation holds the remaining 70% stake in Caserones. The Company's common shares are listed on the TSX under the symbol "NGEX" and also trade on the OTCQX under the symbol "NGXXF". NGEx is part of the Lundin Group of Companies. Additional information relating to NGEx may be obtained or viewed on SEDAR+ at Additional Information Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release. The information contained in this news release was accurate at the time of dissemination but may be superseded by subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. SOURCE NGEx Minerals Ltd. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
11 hours ago
- Business
- News.com.au
The Right Postcode: Sipa shines a spotlight on South Australia's gold potential
WA may be Australia's home of gold, but South Australia has been flying under the radar Among SA's exciting explorers is Sipa Resources, which recently acquired the Nuckulla Hill and Tunkillia North assets bordering Barton Gold We chat to Sipa's managing director Andrew Muir about the opportunity Mergers and acquisitions in the metals and mining sector heavily favoured gold over base metals in 2024, and that trend has continued into 2025. The initial wave of M&A activity was driven by larger players. But junior resources companies are now stepping up, targeting project acquisitions to grow their portfolios and expand operational footprints in response to favourable market conditions and high gold prices. Recent examples include TG Metals (ASX:TG6) acquiring the Van Uden gold project in Western Australia, Minerals 260 (ASX:MI6) purchasing the Bullabulling Gold Project from Norton Goldfields, Auric Mining (ASX:AWJ) securing the Lindsay's Project in WA and Great Divide Mining (ASX:GDM) taking a 15% stake in Adelong Gold's Challenger mine as part of a restart strategy. Western Australia has attracted the lion's share of the attention as the source of 70% of Australia's world class gold production. But South Australia offers compelling exploration and development prospects that have largely gone unnoticed. Mineral-rich neighbourhood SIPA Resources (ASX:SRI) illustrates this point well, with its Nuckulla Hill gold asset adjacent to Barton Gold (ASX:BGD) 1.6Moz Tunkillia gold deposit in South Australia's Gawler Craton. The company marked its entry into the highly prospective post code last year when it secured a binding agreement to acquire full ownership of three projects from Gawler Craton Pty Ltd. It also owns two other gold projects in the vicinity, Skye and Tunkillia North, the latter of which borders Barton Gold's asset. Other major gold deposits in the region include Barton Gold's 1.2Moz Challenger mine, originally discovered by Dominion Mining in 1995. Nearby budding gold explorers include Indiana Resources (ASX:IDA) and their Minos deposit, which surrounds Sipa's Tunkillia North asset. Drilling and scoping study related activities are in the works at Minos, with Indiana looking to deliver a maiden resource at the asset sometime this year. At the start of the year, the project yielded bonanza-grade results of up to 44.9g/t and 45.9g/t gold, highlighting its strong potential for a viable mining operation. The current 27-hole for 6600m RC program is scheduled to continue until August 2025, targeting extensions to Minos in all directions. The Tunkillia North and Nuckulla Hill projects host multiple advanced and large-scale gold prospects, while Skye sits along strike from Barton Gold's Gold Bore resource, and less than 50km from high-grade intersections generated by Marmota (ASX:MEU) at Aurora Tank. While exploration is still in its early phases, evidence has emerged that the Yarlbrinda Shear Zone extends from Barton's Tunkillia deposit into Sipa's Nuckulla Hill landholding. Speaking with Stockhead, Sipa managing director Andrew Muir said the company is optimistic there is potential for a significant discovery on its ground. 'It's a very big, and pretty wide, shear zone which has had a lot of gold-rich fluids travel along it,' he said. Similar rocks and geology As Muir points out, Sipa holds ground covering ~40km of the same shear zone as Barton's Tunkillia with similar rock types. But compared to Barton's tenure it's remarkably underexplored. 'We have some early-stage drill hits, particularly at prospects like Bimba and Sheoak, that aren't too dissimilar to Barton's Tunkillia,' he added. 'We're excited to undertake our first drill program soon and hopefully find something of substance.' The Yarlbrinda Shear Zone is a major structure about 150km long and 12km wide and is analogous to the major Kalgoorlie Shear Zone in WA. Pending heritage and PEPR approvals, RC and aircore drill programs will begin at Nuckulla HIll over the coming weeks to follow up historically identified gold anomalism and mineralisation, as well as to test new areas to the north and south of Barton's Tunkillia gold deposit. Elsewhere in the district, Barton has recently launched a 2500m drilling program at its Tarcoola project, about 70km northwest of Tunkillia and within trucking distance of its processing plant, with a major focus on the new Tolmer 'silver zone' discovery. Recent assay results from the first seven discovery holes have placed among several 'global Top 10' rankings, highlighting a promising new commercial pathway for Barton Gold. Its actively working towards constructing a new processing plant, with their plan involving recommissioning the existing Central Gawler Mill to bring it into production by mid-2026 and then developing a second mill at the Tunkillia project. Unlocking synergies and scale Barton is at a more advanced stage than Sipa, having steadily increased the size of Tunkillia since its original discovery in the 90s. But if a meaningful discovery is made on Sipa's ground in the future, Muir said consolidation could offer several strategic benefits. 'Given Barton have a very large deposit just up the road and are already on the path of funding and building a processing plant, if we found something of reasonable size it would make sense to use the one central plant rather than build two processing plants,' he said. 'There's many synergies associated with that from an M&A perspective. If we find something big enough, we'd be keen to develop it ourselves, but it all depends on the drilling.'
Yahoo
15 hours ago
- Entertainment
- Yahoo
Elon Musk's SpaceX's Umpteenth Mishap Tagged 'A Major Anomaly'
Elon Musk's plans to explore space continue to be a far-fetched dream thanks to repeated technical problems. The SpaceX founder's Starship suffered another explosion, leaving many to wonder if his plans to visit Mars should be put to rest. Elon Musk's company, SpaceX, experienced its latest incident on Wednesday, June 18, at the Texas Starbase facility near Boca Chica Beach. Musk's SpaceX foundation confirmed the explosion on X, revealing the shocking mishap happened at approximately 11 p.m. CT. "The Starship preparing for the tenth flight test experienced a major anomaly while on a test stand at Starbase," they explained. "A safety clear area around the site was maintained throughout the operation, and all personnel are safe and accounted for. Our Starbase team is actively working to save the test site and the immediate surrounding area in conjunction with local officials," the message continued. Musk's company confirmed that the residents in surrounding communities were not harmed. Nonetheless, they warned people not to approach the explosion area until their safety operations were completed. TMZ shared a video capturing the incident, showing the rocket exploding into a fiery flame upon take-off. According to reports, residents miles from the Texas Starbase facility near Boca Chica Beach felt the powerful explosion. The list included someone in Brownsville, about 22 miles from the testing site, who captured and posted about the eruption on social media. Although SpaceX claimed their tenth launch test failure was a "major anomaly," it wasn't the first time their Starship had exploded. Musk's company's 7th and 8th launch tests also ended in terrifying explosions, with the most recent incident occurring last month. The Starship rocket, hyped by the company as the world's most powerful launch vehicle ever developed, exploded upon re-entry into orbit. Given the multiple mishaps, many wondered if Musk was in over his head with his space exploration plans. Many shared their thoughts about Musk's latest mishap underneath the SpaceX announcement, having mixed feelings about his company's goals. "What an absolute failure. Good luck securing more public funding for more failures like this in the future," a critic penned. "Honestly, the 'fail fast' thing is kinda overrated... SpaceX just has crazy funding to blow stuff up lol," another critic claimed. A third wondered if the "anomaly" was sabotage, while others implored Musk not to give up on his Mars conquest. "Data gathered is the most important thing. Otherwise minor setback," a fan declared. A fellow supporter echoed similar sentiments, writing, "Anomaly? Yes. Delay? Maybe. But if you're building a 9-million-pound rocket to colonize Mars and nothing blows up once in a while, you're not pushing hard enough. Starbase is safe. Starship is iterating. The mission is still a go." When Musk's Starship exploded in March, it caused multiple air travel disruptions. The Blast covered the story, reporting that the rocket blew up during a live stream of its test launch in Texas. The spacecraft's engines shut down shortly after the booster had been successfully retrieved at the launch tower. Dan Huot, SpaceX's communications manager, explained during the live broadcast that the loss of engine power had resulted in the loss of the spacecraft's altitude control. The situation escalated as the rocket began to spin, ending in a complete loss of communication and subsequent explosion. During the incident, multiple media sources reported that flights from Miami International Airport, Fort Lauderdale-Hollywood International Airport, and Philadelphia International Airport experienced delays due to debris from a space launch. Smaller airports in West Palm Beach, Fort Lauderdale, and Orlando, Florida, were also affected. Musk's SpaceX company wasn't the only foundation experiencing delays in its plans, with the tech billionaire's Austin factory suffering multiple closures. According to Business Insider, Tesla informed workers in a meeting early this month that the company would shut down its Cybertruck production. The pause in production is reportedly scheduled to begin the week of June 30 and is expected to resume the following week. During the shutdown, employees could use their paid time off or attend voluntary training and participate in cleaning activities. However, this was not the first time the Austin factory had closed its doors. Tesla shut down the production of Cybertruck and Model Y lines in late May to hold a voluntary training for its Austin factory employees. The training reportedly included seminars on improving the work culture at the factory. Another production pause occurred last December over a battery supply issue. Will Elon Musk's SpaceX Starship achieve successful test launches without more explosions?
