Friday, April 29, 2016

Barsele Minerals Corp. - BME.v

Barsele Minerals Corp. - BME.v is advancing the flagship Barsele Gold Project in Sweden.

A NI 43-101 estimates an indicated resource of 14.1 million tonnes grading 1.21 gold grams per tonne (g/t) or 547,000 contained ounces of gold.

On April 13, 2016 the company released News

" Barsele Minerals Corp. -- (TSX-V: BME) ("Barsele") is pleased to report a second operational progress update for the current exploration program within the Barsele Au-VMS Project area in Västerbottens Län, northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited. -- (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the project is 55% Agnico Eagle and 45% Barsele.

During February 2016, diamond drilling totalling 1,861.7 m was completed in the mid to eastern Central Zone around the existing gold resource area and to the east-southeast along the trend of the Skiråsen Zone to the boundary of the exploitation concession. Since early October 2015, 12,848 metres have been drilled. A total of 1,631 samples were sent to the laboratory during February and 3,998 assay results were received. Gold assay values exceeding 20 g/t have been top-capped at 20 g/t.

Highlights of the latest exploration drill results include 3 intercepts in the Skiråsen Zone, with hole SKI 15001 of 61 metres core length (estimated 45.75 metres true thickness) grading 1.61 g/t gold, plus hole SKI 16001 of 20 metres core length (estimated 15 metres true thickness) grading 3.23 g/t gold and further down hole, 36.1 metres core length (estimated 27.1 metres true thickness) grading 2.40 g/t gold. These drill intercepts are located between 650 and 750 metres southeast of the core of the Central Zone deposit.

Highlights of the Barsele 2015-2016 Drilling Program to Date

Barsele 2015-2016 Drilling Program (to February 29, 2016)
Core Length
True Thickness
at 20 g/t
Au (g/t)
CNT 15001209.40214.004.603.4514.655.47
CNT 15005291.00310.0019.0014.251.041.04
CNT 15010494.00589.0095.0071.250.880.88
CNT 15011364.00387.0023.0017.251.141.14
CNT 15015231.00261.0030.0022.501.001.00
CNT 15017211.00219.
  Assays pending forCNT 15017  
SKI 1500179.0084.005.003.751.791.79
SKI 16001101.00108.

Tuesday, April 26, 2016

Dalradian Resources Inc. - DNA.t

Dalradian Resources Inc. - DNA.t is focused on advancing the flagship Curraghinalt gold deposit in Northern Ireland.

Curraghinalt is a high-grade, low capex lode gold deposit with mineralization open along strike, across strike and down dip.

On April 12, 2016 the company released News

Dalradian Resources Inc. (TSX:DNA) (AIM:DALR) ("Dalradian" or the "Company") announces results from 39 drill holes from the infill drill program at the Curraghinalt gold deposit in Northern Ireland. Infill drilling was completed in February and this is the final release of results from the 51,479-metre program.
--  1.44 m of 100.66 g/t gold from the Sheep Dip vein in hole 16-CT-355
--  1.02 m of 73.61 g/t gold from the No. 1 vein in hole 16-CT-341
--  1.06 m of 66.43  g/t gold from the Grizzly vein in hole 16-CT-343
--  0.67 m of 112.45 g/t gold from the T17 vein in hole 16-CT-366
--  0.65 m of 80.58 g/t gold from the Sperrin vein in hole 16-CT-342
--  1.20 m of 39.08 g/t from the V55 vein in hole 16-CT-361
--  0.80 m of 44.75 g/t from the Road vein in hole 16-CT-365

Patrick F.N. Anderson, Dalradian's Chairman and CEO, commented:
"We are ending our infill drill program at Curraghinalt with a final batch of high grade results. Work has been ongoing and is nearing completion on a resource update to reflect the 50,000 additional metres we have drilled since our last resource, which was based on 80,000 metres of drilling. The resource update is just one of many inputs into our feasibility study, which will outline the economics of an underground mine at Curraghinalt. Other work that is ongoing and will feed into the feasibility study includes vein sampling, test stoping, mine planning and some additional metallurgical testing. These other inputs will help to determine both the anticipated diluted grade of ore that will enter the mill and the expected gold recovery of that material."

Sunday, April 17, 2016

Oban Mining Corporation - OBM.t

Oban Mining Corporation - OBM.t is advancing the flagship Windfall Lake gold deposit. The high-grade Windfall Lake gold deposit is located between Val-d'Or and Chibougamau in Québec, Canada.

On April 14, 2016 the company released News

"Oban Mining Corporation(OBM:TSX, "Oban" or the "Corporation") is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Barry Township, Québec. The 55,000 metre drill program combines definition drilling above the Red Dog intrusion ("Red Dog") and expansion drilling above and below Red Dog.

Highlights from 9 new drill holes include: 24.7 g/t Au over 6.8 metres in the extension of DDH EAG-11-254; 5.21 g/t Au over 11.2 metres in DDH OBM-16-609; 18.9 g/t Au over 2.4 metres in DDH OBM-16-616; 6.94 g/t Au over 5.7 metres in DDH OBM-16-617; and 11.2 g/t Au over 3.4 metres in DDH OBM-16-614. The new results continue to demonstrate the lateral and vertical continuity of high grade gold mineralization in Zone 27 and highlights additional new gold mineralization below Red Dog. The table below outlines significant new results(1)(2):
EAG-11-254 ext684.1690.96.824.7(3)FW3
OBM-16-605320.0322.02.03.64Caribou Zone
OBM-16-609426.5437.711.25.21Zone 27
OBM-16-61187. Zone 27
 177.6182.04.43.44Zone 27
OBM-16-613151.0153.22.24.83Caribou Zone
 157.8160.02.24.43Footwall Caribou Zone
OBM-16-6141026.81030.23.411.2New zone between FW1 and FW3
OBM-15-61554.557.02.54.35Zone 27
OBM-16-61744.350.05.76.94Zone 27
         (1) For complete drilling results please see
         (2) True widths are estimated at 65-80% of the reported core length interval. See "Quality Control" below.
         (3) High grade values cut to 100 g/t Au.

Sunday, April 10, 2016

Nemaska Lithium Inc. - NMX.V

Nemaska Lithium Inc. - NMX.V is focused on the flagship Whabouchi mine in Quebec.

The Whabouchi property is located about 300 km from Chibougamau. The Feasibility Study encompasses a combined open pit and underground lithium mine plan at Whabouchi that contemplates a mine life of 26 years.

On April 4, 2016 the company released News
"Nemaska Lithium Inc. («Nemaska» or the «Corporation») (TSX VENTURE:NMX)(OTCQX:NMKEF) announces the results of an update to its May 2014 Feasibility Study (2016 updated Feasibility Study) on the Whabouchi Mine and Concentrator to be located in the Eeyou Istchee James Bay territory in Quebec and the Hydromet Plant to be located in Shawinigan, Quebec. A conference call on the 2016 updated Feasibility Study will be held on Monday, April 4th, 2016 at 2pm Eastern Time. Conference call details are found at the end of this press release."It was necessary to update our Feasibility Study to reflect the change of location of the hydromet plant from Salaberry-de-Valleyfield to Shawinigan, both in the Province of Quebec; and to reflect the optimization of our processes. These improvements will enable Nemaska Lithium to be a low costs producer of lithium hydroxide with a cost per tonne of CDN$2,693 (US$2,154/t); while lithium carbonate will have a cost per tonne of CDN$3,441/t (US$2,753/t). Our new costs of production for lithium hydroxide and lithium carbonate are respectively 22% and 18% lower than our production cost in the 2014 Feasibility Study. We also took into consideration the current trends in the US to Canadian dollar exchange rate, as well as the forecasted prices of lithium compounds to reflect the reality of price increases in the lithium compounds market. The end result is a 106% improvement in the pre-tax NPV (8% discount) base case, going from $924 M in 2014 to $1.9 B and a 49% improvement in the pre-tax IRR increasing to 37.7% from 25.2% in 2014," commented Guy Bourassa, President and CEO of Nemaska Lithium.
The 2016 updated Feasibility Study encompasses a combined open pit and underground mine plan and was prepared by Met-Chem, a division of DRA Americas Inc. (Met-Chem) and Seneca Inc. with contribution from Michel L. Bilodeau, Eng., M. Sc. (App.), Ph.D. for the cash flow model. The previous Mineral Reserve declared as part of the 2014 Feasibility Study with an effective date of May 13th, 2014 has not changed.
The 2016 updated Feasibility Study positively compares to the 2014 Feasibility Study filed on Sedar on June 27, 2014 on a number of fronts:
2016 Updated Feasibility Study Highlights
(All calculations assume a 6% Li
2O spodumene concentrate)
(All figures are quoted in Canadian Dollars (C$), unless otherwise specified)
2016 Updated
Feasibility Study
2014 Feasibility Study% Difference (Based on $CDN Figures)
Expected Mine Life26 years26 yearsNA
Life of Mine Revenue$9.2 Billion (US$7.4 B)
(average of $354 M/yr
$6.9 Billion (US$6.2 B)
(average of $267 M/yr
33% increase
Pre-Tax Net Undiscounted Cash Flow$6.2 Billion (US$4.9 B)
(average of $260 M/yr before initial CAPEX)
$3.4 Billion (US$3.1 B)
(average of $151 M/yr before initial CAPEX)
82% increase
After-Tax Undiscounted Cash Flow$3.9 Billion (US$3.1 B)$2.3 Billion (US$2.1 B)70% increase
Pre-Tax NPV 8% Discount (base case)$1.9 Billion (US$1.5 B)$924 Million (US$831 M)106% increase
After-Tax NPV 8%Discount (base case)$1.16 Billion (US$928 M)$581 Million ($523 M)100% increase
Pre-Tax Internal Rate of Return (IRR)37.7%25.2%49% increase
After-Tax InternalRate of Return (IRR)30.3%21%44% increase
Total Initial Capital Costs$549 Million (US$439M) in CAPEX including contingency$500 Million (US$450M) in CAPEX including contingency10% increase
Pay Back of Capital Costs2.4 years3.7 years35% decrease
Selling Price Lithium HydroxideUS $9,500/t FOB ShawiniganUS $8,000/t FOB Valleyfield19% increase
Selling Price Lithium CarbonateUS $7,000/t FOB ShawiniganUS $5,000/t FOB Valleyfield40% increase
Average Cost Per Tonne Spodumene Concentrate$181/t (US$145/t) FOB Whabouchi Mine$189/t (US$170/t) FOB Whabouchi Mine4% decrease
Average Cost Per Tonne Lithium Hydroxide$2,693/t (US$2,154/t)
FOB Shawinigan
$3,450/t (US$3,105/t)
FOB Valleyfield
22% decrease
Average Cost Per Tonne Lithium Carbonate$3,441/t (US$2,753/t)
FOB Shawinigan
$4,190/t (US$3,771/t)
FOB Valleyfield
18% decrease
Life of Mine Production5.5 million tonnes spodumene concentrate converted into approx. 714,000 tonnes battery grade lithium hydroxide and approx. 84,000 tonnes of battery grade lithium carbonate.
(average per year of approx. 213,000 tonnes of concentrate to produce approx. 27,500 tonnes of lithium hydroxide and approx. 3,245 tonnes of lithium carbonate)
5.5 million tonnes spodumene concentrate converted into approx. 728,000 tonnes battery grade lithium hydroxide and approx. 85,000 tonnes of battery grade lithium carbonate.
(average per year of approx. 213,000 tonnes of concentrate to produce approx. 28,000 tonnes of lithium hydroxide and approx. 3,250 tonnes of lithium carbonate)
Exchange Rate $C to $US1 : 0.81 : 0.9NA
Mine and Hydromet Plant Plan
The Feasibility Study outlines a combined open pit and underground mine. The open pit mine Proven and Probable Reserves are 20 million tonnes at 1.53% Li2O. The underground mine Proven and Probable Reserves are 7.3 million tonnes at 1.28% Li2O.
During the first 20 years, production will be derived from an open-pit developed to a maximum depth of 190 meters and with an average strip ratio of 2.2 to 1. The open pit will be mined using a standard fleet of off-road mining trucks and hydraulic excavators at a rate of 2,740 tonnes of ore per day.