Latest news with #resource
The Australian
2 days ago
- Business
- The Australian
StockTake: Star Minerals
Stockhead's Tylah Tully unpacks the latest from Star Minerals (ASX:SMS), as it endeavours to grow the gold resource at its Tumblegum South gold project. Star is testing for more high-grade lodes that could add to the resource and bolster the potential mine life. Watch the video to learn more. This video was developed in collaboration with Star Minerals, a Stockhead advertiser at the time of publishing. This video does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Associated Press
25-06-2025
- Business
- Associated Press
Helium One Global Ltd Announces Independent CPR
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Independent CPR and Company Feasibility Study of the Southern Rukwa Helium Project in Tanzania LONDON, GB / ACCESS Newswire / June 25, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ('the Galactica Project'), provides an update following an independent competent person's report ('CPR') on the contingent and prospective resources at southern Rukwa Helium Project, Tanzania. The evaluation of helium resources and the subsequent completion of the CPR has been carried out and issued by leading international reserves auditors Sproule ERCE. The evaluation of these helium resources in the southern Rukwa Helium Project are solely within the recently accepted 480km2 Mining Licence ('ML') area (see fig.1). These resources are also broadly in line with those of the internal Company estimates which went into the Feasibility Study ('FS') and which formed the basis of the ML application for the southern Rukwa Helium Project in September 2024. Highlights James Smith, Non-Executive Chairman of Helium One, commented: 'The completion of this Independent CPR further endorses what we have always believed, and that our project at Southern Rukwa has the potential to be a unique and strategic helium development in Africa. We now look forward to finalising the execution of the Mining Licence and working with the Government of Tanzania, as well as the communities where we operate, to successfully deliver this project.' Lorna Blaisse, CEO of Helium One, commented: 'We are delighted that the results of the CPR endorse the work that the team have carried out following successful drilling at ITW-1 and the subsequent extended well test last year, whilst also providing further confidence that we have a unique, unconventional helium play through a resource with capacity to make a material difference in a supply constrained market. This is the first helium contingent resources CPR in Tanzania covering a definitive licence area, and which can now be developed pursuant to the mining legislation under the Ministry of Minerals. This allows us to assign a greater proportion of Contingent Resources to the project, and therefore a greater degree of certainty on the quality of the resource. The results of this CPR, combined with the vast amount of work required in order to complete and present the Company's Feasibility Study, demonstrate alignment in our modelling and evaluation of the play, and we are on track to advance the project towards development with confidence.' CPR Details Sproule ERCE have determined that, unlike conventional gas discoveries, the helium in the southern Rukwa Project is accumulated, transported and stored in water aquifers and as such, no specific trap is defined. It is possible that gas-water ratio and helium concentrations will change with water production over time. However, it is hard to estimate if and how this will occur at present. The Society of Petroleum Engineers ('SPE') has recently acknowledged the application of the PRMS principles for the assessment of helium resources ( ). Accordingly, Sproule ERCE has applied these principles to the estimation of total gas and helium Contingent and Prospective Resources. Contingent Resources Sproule ERCE has assessed Contingent Resources1 by developing type curves and a well schedule for the EPS and the later development, the CPF. Sproule ERCE has assigned Contingent Resources1, sub-class Development on Hold to the EPS for the first period of the mining licence (ten years). Further production beyond this period is assigned to the sub-class Development Unclarified (see PRMS figure above), as a licence extension will be required to continue, on the same terms. Sproule ERCE has assigned Contingent Resources1, sub-class Development on Hold to the EPS for production within the ten-year mining licence period. Sproule ERCE has attributed Contingent Resources1, sub class Development Unclarified, to the CPF for the first mining licence period, as well as to production from the EPS and CPF after the initial ten-year period of the licence, upon grant of the relevant licence extensions. Fig.1Map illustrating the red ML outline (ML 0795/2025) of 480km2 in the southern Rukwa Helium Project, with wells drilled and associated helium measurements. Sproule ERCE has generated type curves for a typical well by first determining water production forecasts. The average liquid rates from these are then probabilistically multiplied by the GWR and He% ranges to determine P90-P50-P10 ranges for a type well. Sproule ERCE then uses this type well to generate a multi-well development production profile. The resultant profile is then constrained to the facility's capacity. Prospective Resources In addition to the Contingent Resources1, Sproule ERCE have also calculated Prospective Resources2 of helium within the awarded ML area not covered by and included in the Itumbula discovery. These estimated volumes are potentially recoverable from a future development. Sproule ERCE has assigned Prospective Resources2 to the mapped basement fault areas that are not currently targeted by the EPS or the CPF development. Prospective Resources2 are estimated in a similar method to Contingent Resources1, using Sproule ERCE's type well by determining water production forecasts and assigning further drilling in the prospective areas. Well spacing has been derived using Helium One's reservoir simulator as an average spacing, avoiding well interference in the model. Sproule ERCE has evaluated the geological chance of success ('COS') of the Prospective Resources2 and assigns a COS of 50%. The relevant risking parameters for Helium resources are source (generation and migration) and reservoir (presence and efficacy), with reservoir efficacy being the greatest risk. Proposed Development Plan Sproule ERCE has reviewed the proposed development plans for Itumbula West. Helium One has provided development plans for a full-scale development of the concession, and for an EPS. In this development plan, wells are located proximal to the Basement faults as mapped, as Helium One prognose an increase in reservoir quality within the Basement rock close to these faults, within the fault damage zone. The EPS is conceptually similar to the full development, but with lower initial capital investment. Production wells will be tied back to a central early production facility, where produced fluids will be processed into sales helium for export, and wastewater for disposal, with waste gases vented on site. The EPS is assumed to operate for six months before the full development project is commenced. Feasibility Study This CPR supports the Company's understanding of the project and utilises the same dataset from the helium discovery at ITW-1 well last year, integrating the extended well test ('EWT') data which was used to produce a detailed dynamic volumetric model. Outputs from this model were used to define the Company's internal resource estimates and formed the primary input to the detailed FS as per the ML application in September 2024. The Company will be in a position to release details of the FS upon formal award of the ML and execution of all associated agreements. Definitions 1Contingent Resourcesare those quantities of gas estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality. Contingent Resources are further categorised in accordance with the level of certainty associated with the estimates as 1C, 2C and 3C. 2Prospective Resourcesare those quantities of gas estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective Resources have both an associated chance of geologic discovery and a chance of development. Prospective Resources are further categorized in accordance with the range of uncertainty associated with recoverable estimates, assuming discovery and development. For Prospective Resources the estimates are categorised as 1U, 2U and 3U. Prospective Resources may be sub-classified as Prospects, Leads and Plays. A Prospect is a potential accumulation that is sufficiently well defined to represent a viable drilling target. A Lead is a potential accumulation that is currently poorly defined and requires more data acquisition and/or evaluation in order to be classified as a prospect. A Play is a prospective trend of potential prospects, but which requires more data acquisition and/or evaluation in order to define specific leads or prospects. For further information please visit the Company's website: Contact Sproule ERCE has independently assessed the helium Contingent and Prospective Resources, plus Geological Chance of Success (COS), for the Itumbula West discovery and surrounding areas. The SPE has recently acknowledged the application of the PRMS principles for the assessment of helium resources ( Accordingly, Sproule ERCE has applied these principles to the estimation of total gas and helium Contingent and Prospective Resources. Lorna Blaisse, CEO of Helium One, who has an MSci in Petroleum Geoscience (First Class Hons) and is a Fellow of the Geological Society of London and a member of the Geoscience Energy Society of Great Britain (GESGB), has reviewed the information contained in this release. Notes to Editors Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the company has the potential to become a strategic player in resolving a supply-constrained helium market. The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project entering a full appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test ('EWT'), successfully flowed 5.5% helium continually to surface in Q3 2024. Following the success of the EWT, the Company filed a Mining Licence ('ML') application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been offered to the Company and was officially accepted in March 2025. The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL) and has successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme is a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO2 discoveries to near-term commercial production. This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO2 concentrations in the target formation and demonstrating promising flow potential. The next steps will see the Galactica wells tied into initial production in Q4 2025. Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Helium One Global Ltd press release
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Prime Mining: Expanding a High-Grade Gold and Silver Resource in Mexico
Since acquiring the Los Reyes project in 2019, Prime Mining has nearly tripled its gold-equivalent resource and is targeting a low-capital, high-return development path. Their work to date includes robust metallurgical testing, open-pit and underground assessments, and a resource that is now 3 million gold-equivalent ounces. With a Preliminary Economic Assessment expected soon and plans to expand drilling in 2025, Prime is aiming to define both size and quality for what could become a highly efficient gold operation. Their local community ties and infrastructure development efforts add further value. Key Points: ~3M oz gold-equivalent resource Focused on open-pit and underground mine potential PEA in development with high-margin, low-CapEx goals Strong regional community support Ongoing drilling to expand and define new zones For more information on Prime Mining (TSX.V: PRYM, OTCQX: PRMNF), watch their video HERE Published by BTV - The Agency Discover Investment Opportunities with BTV. Delivering engaging content to Investors for 25+ years.
Al Jazeera
26-05-2025
- Business
- Al Jazeera
Mining sector in Africa suffers from 'colonial model'
Claude Kabemba, CEO of Southern Africa Resource Watch, on the root causes of Africa's mining tragedies and rising demand for its minerals after 260 miners were rescued in South Africa.
Yahoo
26-05-2025
- Business
- Yahoo
Gold Candle announces Initial Resource at the Geminid Nickel Sulphide Zone and provides Project Update
Initial Underground Resource of 2.93 million tonnes at 1.6% nickel or 105 million pounds of nickel, all within the Inferred category Recent drilling, outside of the known resource shapes, has intersected KAD25-326-B2; 18.9 m @1.90% Ni from 890 m depth and KAD25-326-B1; 1.80 m @ 1.96 Ni% from 750 m depth. TORONTO, May 26, 2025 /CNW/ - Gold Candle Ltd. is pleased to provide the first Mineral Resource Estimate (MRE) for the Geminid nickel sulphide zone located 1,300 metres to the east of the historic Kerr-Addison Mine located outside Virginiatown, northeastern Ontario, Canada along the prolific Cadillac Larder Lake Break (CLLB) Geminid was first discovered in 2023 by the Gold Candle exploration team. Since the initial discovery hole in Summer 2023, the Company has drilled 16,181 metres in 23 holes. Key Highlights Inferred MRE - 2.93 Mt @ 1.6% Ni, containing 105 181 700 pounds of nickel (at 0.69% Ni cut-off grade). Significant Intercepts: Downhole interval estimated true width (etw), nickel grades and vertical depth for significant intercepts comprising the MRE. KAD23-266: from 278.4m to 301.8m, 12.2 m (etw) @ 1.93% Ni, from 360 metres depth KAD24-300: from 528.0m to 584.5m, 19.8 m (etw) @ 3.73% Ni, from 500 metres depth KAD24-308: from 709.0m to 716.5m, 5.1 m (etw) @ 4.23% Ni from 550 meters depth KAD24-313: from 803.0m to 808.0m, 7.5 m (etw) @ 3.79% Ni from 660 metres depth Gold Candle President and COO Leon LeBlanc stated: "We are incredibly proud to announce our initial Inferred Resource at the Geminid Project, located adjacent to our 5.7 million ounce gold project at Kerr Addison. With less than two years of drilling, we have reported one of the highest grade, undeveloped nickel sulphide projects not currently owned by a major mining company. The orebody in this resource has approximate dimensions of 200 m strike, 700 m vertical extent and has an average thickness of 4.5 m. Historical work has identified nickel mineralization up to 400 m east of the orebody and recent drilling has extended the mineralization beyond the limitations of the resource. We are planning to drill an additional 5,000 m on Geminid through 2025, targeting significant extensions along strike and at depth." LeBlanc continued. "It was not our intention to be pursuing a nickel discovery, but we see significant complimentary value in delineating a multi-million tonne, high grade resource along with a multi-million ounce gold system in the heart of one of the world's great mining camps. This is another example of the exploration upside of Gold Candle's property and supports our ongoing +50,000 m exploration plan.'' Gold Candle VP Exploration Dean Crick said: "We are excited to report a nickel resource that is open in all directions with expansion drilling planned along strike and at depth. We are also encouraged to report signs of chalcopyrite (copper sulphide) mineralization beyond the nickel zones. Concurrently we will be undertaking geophysical surveys across the regional project land tenure of roughly 5 km to the Quebec border to define potential additional drill targets for follow-up. As such, Geminid presents a compelling poly-metallic opportunity in addition to gold targets along the prolific Cadillac Larder Lake Break)." About Geminid The Geminid Project is located 1.3 km east northeast of the Kerr #3 Shaft in the McGarry Township of the Timiskaming District of Ontario. It is hosted within the 6 km Gold Candle regional land tenure package reaching from the Kerr-Addison mine to the Quebec border. Geminid was discovered in 2023 targeting the projected CLLB identified by high magnetic signature Larder Lake group ultramafic rocks in contact with low magnetic Timiskaming sedimentary rocks. The 2023 regional program was further designed to test the apparent 1 km spacing of historic Larder Lake Au deposits along the CLLB east of the Kerr Addison Mine. The initial discovery hole, KAD23-266 intersected 12.2 m (etw) of millerite, sulfidic mineralization grading 1.9% nickel, with trace gold mineralization. Other 2023 Au intercepts along the 5 km strike of the CLLB are illustrated in Figure 1. The 2023 drilling program took place between May and October and included eight drill holes totaling 3,708 m. Between January and December 2024, 17 holes totalling 11,493 m were drilled to expand the mineralization east, west and down plunge (Figure 2). (Six drill holes on the Geminid project Figure 3B.) Notes to Accompany Mineral Resource 1. These mineral resources are not mineral reserves as they do not have demonstrated economic viability. The MRE follows current CIM Definition Standards (2014) and CIM MRMR Best Practice Guidelines (2019). The results are presented undiluted and are considered to have reasonable prospects for eventual economic extraction ("RPEEE"). 2. The independent and qualified persons for the mineral resource estimate, as defined by NI 43‑101, are Chafana Hamed Sako, Martin Perron, and Simon Boudreau, (InnovExplo, a wholly own subsidiary of Norda Stelo). The effective date of the estimate is February 24, 2025. 3. The estimation encompasses six (6) wireframes using Leapfrog Geo and interpolated using Leapfrog Edge. 4. High-grade capping on assays (supported by statistical analysis) was set between 65,000 ppm Ni for HG domains and 15,000 Ni for LG domains. No capping for Co. 1.0-m composites were calculated within the mineralized zones using the grade of the adjacent material when assayed or a value of 0.30 when not assayed. A low-cut value of 1,800 ppm was used to filtered out mineralogical contamination. 5. The estimate was completed using an octree sub-block model from Leapfrog Edge, with a parent block size of 5m x 5m x 5m (X,Y,Z) and a minimum sub-block size of 1.25m x 1.25m x 1.25m (X,Y,Z). 6. Grade interpolation was obtained by ordinary Kriging (OK) interpolation method using hard boundaries. 7. Density values result database have been used. The density was assigned by lithology by averaging the measurements for each lithology: FELS-SSMS: 2.82 g/cm3, GWG: 2.74 g/cm3, MSSS: 2.75 g/cm3, SSMS: 2.88 g/cm3, UM: 2.79 g/cm3, UM LOWMG: 2.85 g/cm3, UM REG1: 2.82 g/cm3, UM REG2: 2.84 g/cm3, Overburden: 1.80 g/cm3. 8. The mineral resource estimate is classified as Inferred. The Inferred category is defined with a minimum of one (1) drill hole in areas where the drill spacing is less than 200 m, and reasonable geological and grade continuity have been demonstrated. 9. The MRE is locally constrained. The resources meet the RPEEE requirement by applying constraining volumes to all blocks (selective underground long-hole) using Deswik Mineable Shape Optimizer (DSO). 10. The RPEEE requirement is satisfied by having cut-off grades based on reasonable parameters for underground extraction scenario, minimum widths, and constraining volumes. The estimate is presented for potential underground scenarios (realized in Deswik) over a minimum width of 2 m for blocks 20 m high by 20 m for the long-hole method at a cut-off grade of 0.69% Ni. Cut-off grades reflect the currently defined geometry and dip of the mineralized envelopes. The underground cut-off grade was calculated using the following parameters for the long hole method: mining cost = CA$130.00/t; processing & transport cost = CA$35.00/t; G&A cost = CA$0.00/t; selling costs = CA$.00/tNi price = US$19,932/t; USD/CAD exchange rate = 1.35 and mill recovery = 88.5%. 11. Cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.). 12. The number of metric tons (tonnes) was rounded to the nearest thousand, following the recommendations in NI 43-101. The metal contents are presented in pounds (tonnes x grade / 2204.6) rounded to the nearest hundred. Any discrepancies in the totals are due to rounding effects. 13. The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues or any other relevant issue not reported in the Technical Report that could materially affect the Mineral Resources Estimate. QA/QC and Data VerificationGold Candle Ltd. maintains an internal Quality Assurance / Quality Control (QA/QC) program at the Geminid Project to ensure sampling and analysis during exploration work is conducted in accordance with best practices. Drill core is logged and sampled at a secure core logging facility within the historic mine site under the supervision of a Qualified Geologist. A geologist marks the individual samples for analysis and the sample intervals, sample numbers, standards, blanks and duplicate samples are entered into the database. All drill core is cut in half using an electric core saw equipped with a diamond tipped blade. One half of the core is placed into a plastic sample bag and stapled closed in preparation for shipment. The other half of the core is returned to the core box and retained for future reference. The samples are placed in large reusable crates, which are secured with numbered security tags. The core samples are picked up at the mine site and are delivered to the ALS Canada Ltd. laboratory in Sudbury, Ontario. ALS is a certified laboratory with an internal Quality Control (QC) program that includes the insertion of blanks, reference materials, and coarse and pulp duplicates. Nickel is analyzed as part of a multi-element analytical package. A 0.25g sample is subjected to a four-acid digest and is analysed with an Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES) finish. Samples greater than 10,000 ppm Ni are re-analyzed using a similar method specific for higher grade samples. Gold is analyzed by a 50g fire assay with an ICP-AES finish. Samples greater than 10.0 g/t Au, are re-analyzed using a gravimetric finish. Gold Candle Ltd. inserts QC samples (blanks, reference materials and duplicate samples) at regular intervals to monitor sample preparation and analytical performance. Umpire assays are completed on a regular basis at a secondary accredited laboratory. Qualified PersonsThe mineral resource estimate was conducted by InnovExplo (a wholly owned subsidiary of Norda-Stelo) under the supervision of Martin Perron, and Simon Boudreau, both are Independent Qualified Persons under NI 43-101 standards. The initial mineral resource estimate relating to the Geminid Zone contained in this presentation is based on the technical report on the Kerr-Addison project by Martin Perron, Chafana Hamed Sako, and Simon Boudreau, from InnovExplo, a subsidiary of Norda Stelo, which will be filed on Sedar +. The technical information in this news release has been reviewed and approved by Dean Crick P. Geo Msc, Vice-President of Exploration for Gold Candle, whom is a Qualified Person under NI 43-101 standards. An independent technical report prepared in accordance with the requirements of NI 43-101 will be completed within 45 days of this news release. About Gold CandleGold Candle is a privately funded Canadian exploration company led by a diverse and highly experienced group of mining professionals. In 2015, the Company acquired claims over the historic Kerr-Addison Gold Mine and surrounding area in the McGarry Township, located in the Timiskaming District of Ontario. Our approach to responsible mineral exploration is to perform our activities in a manner that benefits local communities, employees and shareholders and respect people and the environment. SOURCE Gold Candle Ltd. View original content to download multimedia:
