Proactiveinvestors United Kingdom Metallica Minerals Ltd https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Metallica Minerals Ltd RSS feed en Wed, 26 Jun 2019 13:13:48 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Metallica Minerals drills up hints of a major graphite find ]]> https://www.proactiveinvestors.co.uk/companies/news/159021/metallica-minerals-drills-up-hints-of-a-major-graphite-find-65702.html Metallica Minerals’ (ASX:MLM) Esmeralda graphite project in Queensland has confirmed its potential to host a large-scale deposit after new drilling intersected 49 metres of visible graphite mineralisation.

This result was recorded from a depth of 72 metres and followed a previous hole which encountered 120metres of visible graphite mineralisation at a depth of 68 metres.

The work is believed to indicate potential for lateral continuity of more than 1.2 kilometres across the 750-square-kilometre project.

When considered with promising historical data, the latest results suggest that the targeted graphitic granite breccia might extend much further to the west and remain open to the east.
 
Preliminary assay results for the two holes are expected towards the end of November.

Igneous or hydrothermal-style graphite deposits, such as Esmeralda, are rare.

The more common metamorphic-style graphite deposits make up about 95% of the world’s known graphite deposits.

Hydrothermal-style graphite deposits are typically of high purity graphite in either flake or crystalline form. Examples of this style of mineralisation include the high-grade, narrow-vein Sri Lankan deposits and the Albany graphite deposit in Canada.


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Fri, 20 Nov 2015 07:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159021/metallica-minerals-drills-up-hints-of-a-major-graphite-find-65702.html
<![CDATA[News - Metallica Minerals bags $500,000 from sale of non-core assets ]]> https://www.proactiveinvestors.co.uk/companies/news/159020/metallica-minerals-bags-500000-from-sale-of-non-core-assets-63363.html Metallica Minerals (ASX:MLM) has executed a sales agreement to sell four mining leases in Queensland to a private limestone and lime group for $500,000.

The sale covers the Ootann limestone tenements and associated quarrying equipment located about 180 kilometres southwest of Cairns.

A $25,000 non-refundable deposit has been received and completion of the Sales Agreement and payment of the remaining $475,000 will occur once indicative approval for the transfer of the mining titles is received.

The purchaser will also replace the environmental bond of approximately $27,000.

Metallica acquired the Ootann limestone operation about 8 years ago primarily to supply lime to the proposed SCONI project.

As this project is on hold pending a joint venture or other funding source, the Ootann limestone operation is considered a non-core asset.

The company has also received indicative and non-binding expressions of interest on several of its other limestone projects near Townsville and Gladstone which are also considered non-core mineral assets.

Last month, Metallica and its joint venture partner Ozore Resources lodged the Mining Lease Application for the Urquhart Bauxite Project in Queensland.

A major portion of the 7.5 million tonne Inferred Resource averaging 51% total aluminium oxide (Al2O3) and 16.3% total silicon oxide (SiO2) is suitable for direct shipping ore export.

This allows development of a bauxite mine-trucking-barging and transhipment operation with lower capital and lower operating costs.

 

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Thu, 09 Jul 2015 10:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159020/metallica-minerals-bags-500000-from-sale-of-non-core-assets-63363.html
<![CDATA[News - Metallica Minerals receives royalty from non-core nickel lease in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/159019/metallica-minerals-receives-royalty-from-non-core-nickel-lease-in-queensland-60027.html Metallica Minerals (ASX:MLM) has entered into a royalty agreement with a privately owned company over its Dingo Dam Mining Lease in Queensland and has received the first $250,000 payment.

The lease is part of the company’s non-core Lucky Break Nickel Project that is directly west of Townsville and to the southeast of its larger SCONI scandium-nickel and cobalt project.

The agreement allows the privately owned company to mine and extract nickel laterite ore from the lease.

The second payment of $200,000 is due six months form the signing date or when a total of 30,000 tonnes of nickel laterite ore is extracted and removed, whichever is later, while the third payment of $200,000  is due 10 months from the start date or cumulative production of 60,000 tonnes of ore.

Metallica can also receive additional payments of $4 per tonne for any tonnages above 130,000 tonnes of nickel ore that is extracted and removed from the royalty area.

The privately owned company is responsible for conducting all mining operations and trucking activities and associated rehabilitation at Dingo Dam.

It is also responsible for keeping the Existing Tenement valid and in force and effect including, lodging in good time, all required reports and paying all fees, rates, royalties, taxes and rental payments due.



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Mon, 12 Jan 2015 15:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159019/metallica-minerals-receives-royalty-from-non-core-nickel-lease-in-queensland-60027.html
<![CDATA[News - Metallica Minerals receives further funding from China for Queensland project ]]> https://www.proactiveinvestors.co.uk/companies/news/159018/metallica-minerals-receives-further-funding-from-china-for-queensland-project-57872.html Metallica Minerals (ASX:MLM) has revealed that a further A$900,000 has been received into the Joint Venture bank account under the Cape York Heavy Mineral Sands (HMS) and Bauxite Joint Venture Agreement.

The Chinese investor is using a wholly-owned Australian subsidiary named Ozore Resources Pty. Ltd, and after today's payment now has a 27.33% joint venture interest.

In total, a private Chinese partner is funding A$7.5 million into the joint venture, which covers all Metallica’s Heavy Mineral Sands (HMS) and Bauxite holdings on Queensland’s Cape York.

Increasing bauxite demand and prices are expected to intensify due to the simultaneous major reduction in bauxite supply from Indonesia and India, and increased demand for alumina to supply rising aluminium production and consumption in China, India and Middle East.

Typically HMS & Bauxite deposits/projects are located close to each other and therefore potentially sharing and integrating exploration, feasibility, development, infrastructure and future costs.

The Urquhart Point project is proximate to large bauxite deposits (Rio Tinto & QLD Govt).

There may be an opportunity for Metallica to use the Urquhart Point infrastructure, established local relationships and existing Mining Leases to facilitate a bauxite mining, barging and shipping operation from Urquhart Point.

 

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Tue, 30 Sep 2014 12:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159018/metallica-minerals-receives-further-funding-from-china-for-queensland-project-57872.html
<![CDATA[News - Metallica Minerals enters nickel royalty agreement at Dingo Dam ]]> https://www.proactiveinvestors.co.uk/companies/news/159017/metallica-minerals-enters-nickel-royalty-agreement-at-dingo-dam-57573.html Metallica Minerals (ASX:MLM) has entered into a Royalty Agreement with a privately owned company to allow the mining and extraction of nickel ore from the company's Dingo Dam Mining Lease in Queensland.

The lease is part of Metallica’s non-core Lucky Break Nickel Project, directly west of Townsville and to the southeast of its larger SCONI scandium-nickel and cobalt project.

Earlier this month, $3.2 million was received into the Joint Venture bank account under the Cape York Heavy Mineral Sands and Bauxite Joint Venture Agreement as part of a $7.5 million deal with a Chinese investor.

The royalty payable for this new agreement to Metallica is:

- First Payment: $250,000 upon satisfaction of conditions precedent which are to be satisfied within 14 days unless extended by both parties;
- Second Payment: $200,000 four months from the Signing Date or when a total of 30,000 tonnes of nickel ore is extracted and removed from the Royalty Area, whichever is later;
- Third Payment: $200,000 eight months from the Start Date or when a cumulative total of 60,000 tonnes of nickel ore is extracted and removed from the Royalty Area, whichever is later;
- Additional Payment: $4 per tonne for any tonnages above 130,000 tonnes of nickel ore that is extracted and removed from the Royalty Area.

The Dingo Dam Agreement is subject to several conditions precedent regarding road access, and confirmation of compensation payable and access under the existing landowner agreement.

The Agreement will end if the Payer does not extract 60,000 tonnes of nickel ore from the mine site within 12 months from the Signing Date, or two years from the Signing Date.

The Private Company is responsible for conducting all mining operations and activities and associated rehabilitation at Dingo Dam.

Any ore which is mined but not removed from the Royalty Area will be stockpiled for Metallica’s future use.

Metallica is capitalised at around $13 million.

 

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Mon, 15 Sep 2014 14:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159017/metallica-minerals-enters-nickel-royalty-agreement-at-dingo-dam-57573.html
<![CDATA[News - Metallica Minerals heads to market ]]> https://www.proactiveinvestors.co.uk/companies/news/159016/metallica-minerals-heads-to-market-56923.html Metallica Minerals (ASX:MLM) is preparing to reveal details of a capital raising, with the ASX granting the company a trading halt to organise.

At the start of the month MLM executed a Joint Venture agreement with a private Chinese investor for $7.5 million to develop its Urquhart Point bauxite and mineral sand deposits in Queensland.

Funding will also be allocated towards exploration for other Heavy Mineral Sands and Bauxite deposits on its tenements on the western side of Queensland’s Cape York Peninsula.

Capital from the JV will fully finance construction of Metallica’s proposed Urquhart Point Mineral Sands mine, based on the $6.5 million CAPEX and working capital requirements outlined in the Project Feasibility Study released in June.

The mine will be the first HMS-operation for Metallica to achieve production.

The halt will remain in place until the opening of trade on Monday 18th August 2014, or earlier if an announcement is made to the market.

 

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Thu, 14 Aug 2014 14:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159016/metallica-minerals-heads-to-market-56923.html
<![CDATA[News - Metallica Minerals bags $7.5M Chinese funding for bauxite and mineral sands ]]> https://www.proactiveinvestors.co.uk/companies/news/159015/metallica-minerals-bags-75m-chinese-funding-for-bauxite-and-mineral-sands-56653.html Metallica Minerals (ASX:MLM) is expected to trade materially higher today after executing a Joint Venture agreement with a private Chinese investor for $7.5 million to develop its Urquhart Point bauxite and mineral sand deposits in Queensland.

Funding will also be allocated towards exploration for other Heavy Mineral Sands and Bauxite deposits on its tenements on the western side of Queensland’s Cape York Peninsula.

Capital from the JV will fully finance construction of Metallica’s proposed Urquhart Point Mineral Sands mine, based on the $6.5 million CAPEX and working capital requirements outlined in the Project Feasibility Study released in June.

The mine will be the first HMS-operation for Metallica to achieve production.


Agreement terms

A $500,000 deposit payable under the agreement and is to be received by Metallica within 5 business days.

Funds to be provided under the Agreement will also finance up to $500,000 for the exploration for additional HMS and bauxite deposits within prospective regional exploration tenements covering 2,500 square kilometres.

A further $4.5 million will be paid after the other conditions precedent to the Agreement are satisfied.

The final tranche of $2.5 million will be paid to the Joint Venture when the Cape York HMS and Bauxite Joint Venture Manager requests it.

The Conditions Precedent to the Agreement include FIRB approval, payment of the $500,000 deposit within 5 business days; and payment of the further $4.5 million once FIRB approval is received.

Metallica and the private Chinese investor will each ultimately hold a 50% interest in a newly established Cape York HMS and Bauxite Joint Venture owning the Urquhart Point Project Mining Lease and all the Cape York regional exploration permit.

Metallica is capitalised at around $13 million.

 

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Fri, 01 Aug 2014 12:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159015/metallica-minerals-bags-75m-chinese-funding-for-bauxite-and-mineral-sands-56653.html
<![CDATA[News - Metallica Minerals defines significant bauxite potential in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/159014/metallica-minerals-defines-significant-bauxite-potential-in-queensland-56211.html Metallica Minerals (ASX:MLM) has identified extensive bauxite in a review of its Cape York tenement portfolio in Queensland.

The bauxite potential has become so apparent that Metallica has adopted a dual Heavy Mineral Sands - bauxite project focus and strategy for Western Cape York.

The project has been renamed “Cape York HMS & Bauxite Project”, and lies within the established export grade bauxite province, and potentially also a HMS province.

Strong synergies and cost savings exist for the exploration, evaluation and possible future development of Cape York mining, transport, barging, export shipping infrastructure for both HMS and bauxite deposits.

Particularly the projects in close proximity, such as Urquhart Point and Vrilya Point as potential dual development hubs.

Within Metallica’s 2,500 square kilometre exploration tenement portfolio lies 15 bauxite Exploration Target areas.

These include coastal bauxite targets near Vrilya Point, 160 kilometres north of Weipa, in addition to existing HMS targets and deposits such as T16 nearby.

First pass reconnaissance sampling over mapped bauxite has confirmed potential for export quality bauxite within the Urquhart Point tenement, and an initial combined bauxite Exploration Target across all Metallica holdings is in the range of 47Mt to 138Mt.

Increasing bauxite demand and prices are expected to intensify due to the simultaneous major reduction in bauxite supply from Indonesia and India, and increased demand for alumina to supply rising aluminium production and consumption in China, India and the Middle East.

Near term work plans involve grid drilling of Urquhart Point and Vrilya, in conjunction with HMS targets in the current quarter, subject to funding.

Metallica also intends to develop a conceptual exploration and development plan to identify accessible Direct Shipping Ore bauxite to be simply mined, screened and trucked to a barge-ship operation, as planned for Urquhart Point Heavy Mineral Sands project.

 

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Fri, 11 Jul 2014 11:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159014/metallica-minerals-defines-significant-bauxite-potential-in-queensland-56211.html
<![CDATA[News - Metallica Minerals completes feasibility over mineral sands project ]]> https://www.proactiveinvestors.co.uk/companies/news/159013/metallica-minerals-completes-feasibility-over-mineral-sands-project-55844.html Metallica Minerals (ASX:MLM) has received its maiden Independent Ore Reserve Report and completed Feasibility Study for the Urquhart Point HMS Mineral Sands Project in Queensland.

During the life of the project, the concentrate is estimated to be valued between US$250 per tonne to US$330 per tonne FOB, depending on the mineral composition and spot price.

Estimated concentrate production is 87,000 tonnes with an average Valuable Heavy Mineral assemblage of 14.8% zircon, 17.3% rutile and 16.2% ilmenite, with the balance comprising predominately iron oxide sands.

Total operating costs are estimated at $11.02 and $12.52 per tonne of material mined, equating to between $2.5 million and $3 million per year.

Net revenue is estimated to be higher in the first 18 months of operation due to the high grades mined in the first mining areas allowing for early capital payback; and Metallica has $15 million in carried forward tax losses and therefore, the pre-tax and post-tax project returns are effectively the same.

In addition to Urquhart Point, Metallica holds more than 2,000 square kilometres of prospective mineral sands tenements in the Western Cape York region.

Several of these tenements also cover areas of Government mapped bauxite which will also be investigated during Metallica’s exploration drill programs from next quarter onwards.

 

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Wed, 25 Jun 2014 11:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159013/metallica-minerals-completes-feasibility-over-mineral-sands-project-55844.html
<![CDATA[News - Metallica Minerals upgrades heavy mineral sands resource at Queensland project ]]> https://www.proactiveinvestors.co.uk/companies/news/159012/metallica-minerals-upgrades-heavy-mineral-sands-resource-at-queensland-project-55086.html Metallica Minerals (ASX:MLM) has upgraded its Urquhart Point Project in Queensland to a Measured and Indicated Resource of 3.17 million tonnes at 6.16% heavy minerals. 

This compares to its previous Indicated Resource of 3.22Mt at 6.47% HM.

The heavy mineral sand resource is shallow, occurring from surface to an average depth of 2 metres to 3 metres, and has low slime (or clay) content averaging 1.5%.

It consists of a variable suite of both valuable HM assemblage (zircon, rutile and ilmenite) and also approximately half iron oxide sands.

Contained tonnages of VHM in the resource is estimated at 20,700 tonnes of zircon, 23,500 tonnes rutile and 24,800 tonnes ilmenite.

The mineralised sand bodies have simple flat shapes, tight depositional control, good continuity and lack of cover or overburden should make the deposits visually definable and easy to mine cleanly.

There is very good potential to high grade a number of areas if required, particularly in the northern zone.

Planning is advanced for the development of a simple mining and treatment operation at Urquhart Point, designed to produce a high grade mixed heavy HM concentrate.

A Feasibility Study is well underway for the development of a mining and gravity concentration processing operation at Urquhart Point designed to produce a high grade HM mixed concentrate of zircon, rutile, ilmenite and mostly iron oxides.

 

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Tue, 20 May 2014 18:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159012/metallica-minerals-upgrades-heavy-mineral-sands-resource-at-queensland-project-55086.html
<![CDATA[News - Metallica Minerals highlights zircon-rich mineral sand potential in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/159011/metallica-minerals-highlights-zircon-rich-mineral-sand-potential-in-queensland-52125.html Metallica Minerals’ (ASX: MLM) drilling at the T16 Prospect in Cape York, Queensland, has confirmed the potential for further zircon-rich heavy mineral sand discoveries.

All 36 auger holes drilled on the prospect returned significant heavy mineral mineralisation with an average of 1.7%HM based on 134 samples.

This average 32.6% zircon, 5.9% rutile and 10.7% other titanium minerals.

Mineralisation at T16 is hosted in fine quartz sand with generally low slimes.

In addition, only a small portion of the total T16 prospect area has been drilled to date. It is also one of many targets along the company’s 300 kilometres of sandy coastal belt of western Cape York.

T16 is located 160 kilometres north of the company’s Urquhart Point zircon-rutile HMS project.

 

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Wed, 22 Jan 2014 16:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159011/metallica-minerals-highlights-zircon-rich-mineral-sand-potential-in-queensland-52125.html
<![CDATA[News - Metallica Metals ups resources at Queensland heavy minerals project by 19% ]]> https://www.proactiveinvestors.co.uk/companies/news/159010/metallica-metals-ups-resources-at-queensland-heavy-minerals-project-by-19-50943.html Metallica Metals (ASX: MLM) has upgraded Resources at its Urquhart Point heavy mineral sands project in Cape York, Queensland, by 19% to 3.22 million tonnes at 6.47% heavy minerals.

Notably, the heavy minerals – consisting equally of a valuable assemblage of zircon, rutile and ilmenite as well as iron oxide sands – occur from surface to an average depth of 2 to 3 metres.

The Resource upgrade follows a 83 hole auger and aircore drill program that defined additional heavy minerals.

Urquhart Point is a coastal strandline located 3 kilometres southwest of Weipa.

Development is currently planned as a dry mining and wet processing procedure using standard gravity heavy mineral sand separation and concentration operation.

The HM sand processing rate is planned to be 300 tonnes per hour to produce an average of about 20,000 tonnes per annum of non-magnetic HM concentrate for four years.

 

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Fri, 06 Dec 2013 09:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159010/metallica-metals-ups-resources-at-queensland-heavy-minerals-project-by-19-50943.html
<![CDATA[News - Metallica Minerals uncovers heavy mineral sands at Cape York, Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/159009/metallica-minerals-uncovers-heavy-mineral-sands-at-cape-york-queensland-50542.html Metallica Minerals (ASX: MLM) has discovered zircon-rich heavy mineral sand (HMS) mineralisation 160 kilometres north of its Urquhart Point zircon-rutile HMS project in Queensland.

The discovery was made during Metallica’s maiden regional reconnaissance drilling program on a tenement held by Metallica through its wholly-owned subsidiary, Oresome Australia.

Values recorded from 36 shallow auger holes averaged 3% to 4% heavy mineral, with an average thickness of 2 metres, comprising 54% zircon and 35% titanium minerals. over a 1.8 kilometre by 0.8 kilometre area.

All mineralisation is close to surface and occurs over a 1.8 kilometre by 0.8 kilometre area.
 
These results give confidence about potential further discoveries across Metallica's nearly 300 kilometres of coastal tenements on Cape York, with limited prior systematic heavy mineral sands exploration to date.

 

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Tue, 26 Nov 2013 12:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159009/metallica-minerals-uncovers-heavy-mineral-sands-at-cape-york-queensland-50542.html
<![CDATA[News - Metallica Minerals upgrades scandium, cobal and nickel resources at SCONI Project in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/159008/metallica-minerals-upgrades-scandium-cobal-and-nickel-resources-at-sconi-project-in-queensland-49309.html Metallica Minerals (ASX: MLM) has increased Resources at the southern deposits of its SCandium-CObalt-NIckel Project in Queensland by 19% to 70.7 million tonnes at 1.2% nickel equivalent.

This brings total project resources to 89.1Mt at 1.15% nickel equivalent with Measured and Indicated Resources up 2.5% to 65.1Mt at 1.22% nickel equivalent.

This follows:
-    The drilling and valuation of the former Greenvale Mine waste dumps to a new Inferred Resource;
-    Estimating a new Indicated Resource contained within an old crusher oversize stockpile; and
-    Upgrading of previous in-situ Inferred Resources to Indicated and Measured Categories.

The SCONI Project is located in North Queensland, about 250 kilometres on sealed roads from Townsville and consists of a number of nickel-cobalt rich and scandium-rich lateritic deposits.

 

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Mon, 21 Oct 2013 15:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159008/metallica-minerals-upgrades-scandium-cobal-and-nickel-resources-at-sconi-project-in-queensland-49309.html
<![CDATA[News - Metallica Minerals secures mining lease for Queensland heavy mineral sands project ]]> https://www.proactiveinvestors.co.uk/companies/news/159007/metallica-minerals-secures-mining-lease-for-queensland-heavy-mineral-sands-project-49116.html Metallica Minerals (ASX: MLM) has been granted a 10 year Mining Lease over its Urquhart Point Zircon-Rutile Mineral Sands Project in Queensland.

The company is in advanced discussions with a number of parties for project development funding and zircon-rutile product offtake.

Urquhart Point, located 3 kilometres southwest of Weipa, has an Indicated Resource of 2.7 million tonnes at 6.53% heavy minerals.

Development is currently planned as a dry mining and wet processing procedure using standard gravity heavy mineral sand separation and concentration operation.

The HM sand processing rate is planned to be 300 tonnes per hour to produce an average of about 20,000 tonnes per annum of non-magnetic HM concentrate for four years.

 

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Tue, 15 Oct 2013 17:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159007/metallica-minerals-secures-mining-lease-for-queensland-heavy-mineral-sands-project-49116.html
<![CDATA[News - Metallica Minerals in halt pending capital raising ]]> https://www.proactiveinvestors.co.uk/companies/news/159006/metallica-minerals-in-halt-pending-capital-raising--42805.html Metallica Minerals (ASX:MLM) is in trading halt pending an announcement on capital raising., with the halt in place until an announcement is made to the market, or the opening of trade on Tuesdya 7th May 2013.

Metallica Minerals' projects include the SCONI scandium project in Queensland, where it recently made a positive pre-feasibility study. The company has now transitioned to a definitive feasibility study stage.

The PFS had demonstrated that the project in its Phase 1 is both economically and technically viable and had considerable upside.

It will produce scandium oxide at greater than 99.9% purity and the PFS estimates an average scandia production of 51 tonnes per annum.

It also has attractive economics with an NPV of $237 million and a 20.6% internal rate of return and the capital cost of the project is $247 million including 20% contingency.

Metallica's other projects include the Urquhart Point zircon and rutile heavy minerals sand project near Weipa.

It had a cash balance as of 1 April 2013 was $3.6 million and listed investments totaling $8.7 million.

 

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Fri, 03 May 2013 08:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159006/metallica-minerals-in-halt-pending-capital-raising--42805.html
<![CDATA[News - Metallica Minerals appoints finance specialist for scandium project ]]> https://www.proactiveinvestors.co.uk/companies/news/159005/metallica-minerals-appoints-finance-specialist-for-scandium-project-36053.html Metallica Minerals (ASX: MLM) is advancing its SCONI scandium-cobalt-nickel project in Queensland towards becoming the world’s first major scandium producer with the appointment of mining finance specialist Cutfield Freeman & Co to explore funding options.

Having secured Bloom Energy as a baseload customer and also having received a Scoping Study that demonstrates the project’s likely economic viability, Metallica is now well positioned to pursue funding for the project.

London-based Cutfield Freeman & Co is one of the world’s leading experts in project finance and has provided advice to companies such as BHP Billiton (ASX: BHP), Exxon Mobil Corporation and Rio Tinto.

Since its formation in 2000, Cutfield Freeman & Co has advised on over 70 transactions globally, including project financing, joint ventures and M&As.

Cutfield Freeman & Co will develop a financing plan and assist with fundraising, as well as in reaching agreements with potential offtakers for SCONI’s scandium, cobalt and nickel production, and with potential strategic partners.

The initial term of the appointment is four months, which is expected to be extended to match the feasibility, development and financing duration of SCONI.


Milestones to production

In July this year, Metallica produced what is believed to be Australia’s first ever batch of high purity scandium oxide from its Brisbane pilot plant in a major step towards the development of a new export industry.

In October, the company entered into a binding Heads of Agreement with US-based fuel cell manufacturer Bloom Energy for the sale of a substantial portion of the planned future production of scandium oxide from SCONI.

The SCONI project hosts a current resource of 5,741 tonnes of scandium oxide, 467,000 tonnes of nickel and 50,000 tonnes of cobalt.

Metallica has also signed a memorandum of understanding for a strategic alliance with master alloy producer KBM Affilips.

KBM Affilips will assist Metallica by helping to develop relationships with key aerospace and component manufacturing companies, and assist in procuring funding for ongoing feasibility studies and project development for SCONI.

A Scoping Study on the SCONI project indicates it would have a net present value of $870 million, an average annual operating margin of A$213 million, and an internal rate of return of 23.1%.

Shareholders also have high hopes for SCONI with Metallica receiving firm commitments for a A$3.3 million placement earlier this month.

The company will place just over 13 million shares at $0.25 each with existing shareholders, including Jien Mining which took its pro-rata share to maintain its holding of about 19%, to raise $3.25 million of the funds.

A further 250,000 shares for gross proceeds of $62,500 will be issued to the directors of Metallica, subject to shareholder approval at a general meeting.

Worth noting is Metallica had $23.9 million in cash and investments as of 12 November 2012, equating to cash and investments per share of $0.18, compared to the current share price of $0.23.

A further A$2.65 million tax refund under the Federal Government’s Research and Development Tax Incentive program for expenditure in relation to the development of SCONI further increases its cash reserves.


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Mon, 19 Nov 2012 13:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159005/metallica-minerals-appoints-finance-specialist-for-scandium-project-36053.html
<![CDATA[News - Metallica Minerals receives strong support for A$3.3M raising ]]> https://www.proactiveinvestors.co.uk/companies/news/159004/metallica-minerals-receives-strong-support-for-a33m-raising--35438.html Metallica Minerals (ASX: MLM) has received firm commitments for a A$3.3 million placement to fund the continued advancement of the SCONI scandium-cobalt-nickel project in Queensland.

The company will place just over 13 million shares at $0.25 each with existing shareholders, including Jien Mining which took its pro-rata share to maintain its holding of about 19%, to raise $3.25 million of the funds.

A further 250,000 shares for gross proceeds of $62,500 will be issued to the directors of Metallica, subject to shareholder approval at a general meeting.

Patersons Securities acted as lead manager on the placement.

Metallica recently revised the Scoping Study for SCONI project, increasing potential estimates for future scandium oxide demand.

The original Scoping Study, which considered a 750,000 tonne per annum processing plant, assumed scandium oxide production starting at a level of 40 tonnes per annum, growing to 100 tonnes per annum over a 20 year mine life.

The average scandium oxide production across the 20 years was 68 tonnes per annum.

Ongoing discussions with potential scandium oxide end users prompted Metallica to revise its potential estimates for future scandium oxide demand from SCONI.

There is believed to be sufficient demand to allow the sale of about 90 tonnes per annum of scandium oxide from the SCONI project.

Scandium oxide production levels of this magnitude fit within the processing plant design criteria considered in the Scoping Study.


Offtake agreements

Last month Metallica entered into a binding heads of agreement with U.S.-based Bloom Energy for the sale of scandium oxide from the SCONI project.

Bloom Energy is an emerging fuel cell company based in Sunnyvale, California.

Under the terms of the agreement, Metallica will supply Bloom Energy up to 30,000 to 60,000 kilograms of high purity scandium oxide per annum over a five year period.

The SCONI project hosts a current resource of 5,741 tonnes of scandium oxide, 467,000 tonnes of nickel and 50,000 tonnes of cobalt.

Metallica has also inked a memorandum of understanding for a strategic alliance with master alloy producer KBM Affilips.

KBM Affilips will assist Metallica by helping to develop relationships with key aerospace and component manufacturing companies, and assist in procuring funding for ongoing feasibility studies and project development for SCONI.


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Tue, 06 Nov 2012 08:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159004/metallica-minerals-receives-strong-support-for-a33m-raising--35438.html
<![CDATA[News - Metallica Minerals to raise capital ]]> https://www.proactiveinvestors.co.uk/companies/news/159003/metallica-minerals-to-raise-capital-35191.html Metallica Minerals (ASX: MLM) has been granted a trading halt by the ASX and placed in pre-open pending a capital raising.

Metallica Minerals has not yet indicated where the potential new inflow of funds will be allocated, but the company has recently been busy at its SCONI project in Queensland.

Recent results from the second phase of the company’s pilot metallurgical test program showed average metal extractions of over 95% for nickel and cobalt and over 85% for scandium.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 2nd November.

 

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Wed, 31 Oct 2012 09:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159003/metallica-minerals-to-raise-capital-35191.html
<![CDATA[News - Metallica Minerals’ SCONI yields high scandium recoveries ]]> https://www.proactiveinvestors.co.uk/companies/news/159002/metallica-minerals-sconi-yields-high-scandium-recoveries--34501.html Metallica Minerals (ASX: MLM) has delivered high scandium, nickel and cobalt recoveries from metallurgical testing of ore from its SCONI project in Queensland.

Results from the second phase of the company’s pilot metallurgical test program showed average metal extractions of over 95% for nickel and cobalt and over 85% for scandium.

Scandium is considered one of the most useful and valuable of the 17 rare earth elements. It is one of the most potent strengthening elements that can be alloyed with aluminium to create stronger master alloys, with applications in aerospace, transport and high performance sporting equipment.

High purity scandium oxide currently sells at prices of between US$3,000 and $8,000 per kilogram depending on product quantity and purity.

The successful completion of the testwork will provide crucial process design criteria for the Definitive Feasibility Study.

Importantly, the high pressure acid leach pilot plant and solvent extraction pilot plant ran together as a fully integrated closed circuit for eight continuous days, proving the processing flowsheet for the SCONI project.

The average iron, magnesium and aluminium content of the samples were 25%, 4.3%, 3.9% respectively and presented no significant issues in the continuous pilot testwork.

The acid consumption was also modest, averaging around 400 kilograms per tonne.

The high pressure acid leach was integrated with a purpose built solvent extraction circuit to recover scandium from the pregnant leach solution.

In excess of 96% of the dissolved scandium was recovered into a crude hydroxide intermediate, which will be further refined to pure scandium oxide.

Metallica’s 100% owned proprietary refining process has recently been demonstrated to produce over 99.9% pure scandium oxide from a similar hydroxide feed.


Offtake agreement secured

Earlier this month Metallica entered into a binding heads of agreement with U.S.-based Bloom Energy for the sale of scandium oxide from the SCONI project.

Bloom Energy is an emerging fuel cell company based in Sunnyvale, California.

Under the terms of the agreement, Metallica will supply Bloom Energy up to 30,000 to 60,000 kilograms of high purity scandium oxide per annum over a five year period.

The SCONI project hosts a current resource of 5,741 tonnes of scandium oxide, 467,000 tonnes of nickel and 50,000 tonnes of cobalt.

Of note is Metallica’s cash and listed share investments currently totalling around A$28.7 million compared to the company’s current market capitalisation of around A$44 million.

The cash and listed share investments equate to around $0.22 per share compared to the company’s current share price of $0.33.


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Mon, 15 Oct 2012 15:10:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159002/metallica-minerals-sconi-yields-high-scandium-recoveries--34501.html
<![CDATA[News - Metallica Minerals readies for scandium offtake ]]> https://www.proactiveinvestors.co.uk/companies/news/159001/metallica-minerals-readies-for-scandium-offtake-33948.html Metallica Minerals (ASX: MLM) is currently preparing an announcement regarding the execution of a binding Heads of Agreement for scandium offtake, with the ASX granting the company a trading halt today and placing its shares in pre-open.

Metallica wholly owns the SCONI nickel-cobalt and scandium project in Queensland, which is well positioned near required infrastructure. Total project resources contain 5,741t Sc2O3, 467kt Ni & 50kt Co.

It is worth noting that Metallica’s cash and listed share investments currently total around A$28.7 million compared to the company’s current market capitalisation of A$33 million.

The company also has advanced zircon-rutile Heavy Mineral Sand projects – Urquhart Point in Cape York and Gippsland (Option to Purchase 100%) in Victoria.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 2nd October 2012.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 28 Sep 2012 14:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/159001/metallica-minerals-readies-for-scandium-offtake-33948.html
<![CDATA[News - Metallica Minerals boosts resource at Greenvale by 87% to 8Mt @ 1.04% Nickel ]]> https://www.proactiveinvestors.co.uk/companies/news/159000/metallica-minerals-boosts-resource-at-greenvale-by-87-to-8mt-104-nickel-13217.html Following the completion of exploration drilling at NORNICO, Metallica Minerals (ASX: MLM) is planning  full time technical and metallurgical studies for the development of the project.

The milestone at the North Queensland project follows drilling which established a sufficient resource base on which to progress the mining studies aimed at supporting Feasability Studies.

Assays from NORNICO’s final drill programs have increased the nickel (Ni) – cobalt (Co) resource by 87% to 8 million tonnes (Mt) @ 1.04% Ni and 0.08% Co (1.20% Ni Eq) using a 0.70% NiEq COG at Greenvale.

Greenvale contains an estimated 83,000 tonnes (t) of nickel (including 49,000t high grade) & 6,400t of cobalt (including 3,800t of high grade).

About 90% of the Greenvale Ni-Co resource is in either the Measured and Indicated category and is sufficient for mining  or reserve studies.

The upgrade means that the proposed tri-metal nickel,cobalt and scandium (Sc) processing plant at Greenvale can underpin the first 10 years of NORNICO (even without high grade Scandium resources) and processing at a rate ranging from 180,000–220,000 tonnes per annum (tpa).

In addition, there has been an updated scandium resource of 6.24Mt at 169 g/t Sc for the nearby Lucknow deposit with 54% Measured and Indicated.

No further exploration drilling on the projects core deposits is required.

The company is now focused on detailed studies and development assessment programs aimed at maiden production in 2013.

Further metallurgical testwork and beneficiation work is ongoing with results expected in February 2011.

Mining studies are to commence next month and an enhanced NORNICO scoping study is due at the end of March.

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Wed, 19 Jan 2011 14:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/159000/metallica-minerals-boosts-resource-at-greenvale-by-87-to-8mt-104-nickel-13217.html
<![CDATA[News - Metallica Minerals poised for nickel cobalt resource upgrade at Greenvale ]]> https://www.proactiveinvestors.co.uk/companies/news/158999/metallica-minerals-poised-for-nickel-cobalt-resource-upgrade-at-greenvale-11533.html A phase 2 drilling programe will target high grade zones of nickel and cobalt outside the resource boundaries of the Metallica Minerals' (ASX: MLM) Greenvale Nickel-Cobalt Project in Queensland.

An additional 175 drill holes for 4000 metres have now been completed at Greenvale, with another 2000 to 3000 metres to be completed by the end of the year.

The Greenvale indicated and inferred resource currently stands at; 4.5Mt at 1.12% nickel and 0.08% copper, with a higher grade zone of 1.43Mt at 1.39% nickel and 0.11% copper.

Assays for the first 100 holes have been received, with the highlights:

The Power Line prospect:

- 11m @ 1.25% nickel and 0.09% copper from 22m;
- 8m @ 1.49% nickel and 0.14% copper from 36m;
- 10m @ 1.53% nickel and 0.04% copper from 35m; and
- 11m @ 2.00% nickel and 0.17% copper from 39m,

The Powder Magazine prospect:

- 14m @ 1.28% nickel and 0.11% copper from 3m; and
- 6m @ 0.87% nickel and 0.37% copper from 2m.

The Moonscape prospect:

- 5m @ 1.58% nickel and 0.07% copper from om;
- 8m @ 1.22% nickel and 0.28% copper from 2m;
- 16m @ 1.22% nickel and 0.44% copper from 0m;
- 14m @ 1.39% nickel and 0.13% copper from 23m; and
- 8m @ 2.63% nickel and 0.17% copper from 2m.

Phase 2 drilling has returned values of between 20–50 g/t scandium and average approximately 35 g/t.

In addition to the reverse circulation drilling, Metallica has also completed six PQ diamond drill holes for 189 metres at the Greenvale and Lucknow deposits.

The diamond holes were drilled to obtain samples for bulk density determinations, metallurgical testwork and XRD and petrological studies.

Before the end of 2010, Metallica is set to complete; drilling an additional 150 holes for 4,000 metres, survey pick up of all phase 2 drill holes, a survey of existing pit outlines and a Greenvale and Lucknow resource update.

 

Article highlight:

With high grade nickel cobalt hits outside the current resource boundary, the Metallica Minerals resource update due in December is highly anticipated.

 

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Tue, 09 Nov 2010 15:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/158999/metallica-minerals-poised-for-nickel-cobalt-resource-upgrade-at-greenvale-11533.html
<![CDATA[News - Metallica Minerals moves towards nickel-cobalt processing at NORNICO ]]> https://www.proactiveinvestors.co.uk/companies/news/158998/metallica-minerals-moves-towards-nickel-cobalt-processing-at-nornico-7752.html Brisbane-based multi-commodity resource company Metallica Minerals (ASX: MLM) expects drilling to be completed by mid June on its 100% owned  Greenvale nickelcobalt deposit within the company’s broader NORNICO Ni-Co-Scandium project area northwest of Townsville in Queensland.

NORNICO is Metallica’s flagship project where the company aims to develop a profitable long-life mine, producing an estimated 10,000 tonnes of high-grade nickel and 1,000 tonnes of cobalt each year for at least 15 years.

Once all assay results are received by late June the company expects that an updated resource estimate for the Greenvale deposit in July will be trucked from NORNICO’s nearby Lucknow and Kokomo deposits, to feed the proposed NORNICO Stage 1 processing operation on the Greenvale mine site.

The extended resource definition and exploration program commenced in March. The latest drilling results include  the Greenvale Ni - Co deposit where nine priority areas within the historic Greenvale Pit area are being drilled.

A total of 229 Reverse Circulation (RC) holes (GVM-142 to GVM-370) has been drilled for a total of 7,195m. RC holes have been drilled in eight of the nine areas in and around the Greenvale Pit. Results have been received for 207 holes, (GVM-142 to 348).

Two areas, (The Edge and The Power Line) within the existing pit limits have the potential to host significant tonnages of high grade Ni-Co ore. Wide intercepts (+10m) of significant Ni-Co mineralisation have been intersected in both these areas, with the laterite mineralisation proving to be of fairly consistent grade and thickness.

Better results for these two areas include:

The Power Line

- GVM-270, 14m @ 1.32% Ni and 0.10%, Co (1.52% NiEq1);  GVM-271, 9m @ 1.65% Ni and 0.08%, Co ( 1.81% NiEq); and  GVM-301, 19m @ 1.63% Ni and 0.06%, Co (1.75% NiEq) 16m @ 1.82% Ni and 0.08%, Co ( 1.98% NiEq);

The Edge

- GVM-181, 22m @ 1.29% Ni and 0.07% Co (1.43% NiEq); GVM-199, 10m @ 1.38% Ni and 0.07% Co (1.53% NiEq); and GVM-204, 18m @ 1.41% Ni and 0.14% Co (1.69% NiEq).

Greenvale's Indicated and Inferred Resource stands at 37.7Mt @ 0.81% Ni and 0.05% Co, at a 0.5% Ni Cut-off grade, with 4.8Mt @ 0.90% Ni and 0.05% Co classed as Indicated and 32.9Mt @ 0.80% Ni and 0.05% Co classed as Inferred.

Andrew Gillies, managing director, said Metallica's focus is to define high grade areas of Nickel – Cobalt mineralisation (+1.6% NiEq) at Greenvale, which can be selectively mined to produce an initial head feed for a processing plant of +1.8% Ni Eq with stockpiling of lower grade material for possible processing in future years.

In addition, drilling at the Lucknow Ni-Co-Scandium (Sc) deposit has now resumed with the phase 2 drilling focussing on increasing the size of the Lucknow Scandium zone, and further defining extensions to the high grade Ni – Co zones identified by the drilling completed early in April.

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Wed, 09 Jun 2010 07:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/158998/metallica-minerals-moves-towards-nickel-cobalt-processing-at-nornico-7752.html
<![CDATA[News - Metallica Minerals presents strong core value of assets at Mining 2009 ]]> https://www.proactiveinvestors.co.uk/companies/news/158996/metallica-minerals-presents-strong-core-value-of-assets-at-mining-2009-3043.html Speaking to delegates at Mining 2009 in Brisbane today, Andrew Gillies managing director of diversified explorer Metallica Minerals (ASX: MLM) presented a picture of the combined inherent value of group assets in Queenland not represented in the current market value.

Apart from the 100% owned Nornico nickel laterite project, Metallica owns 33% of ASX listed bauxite developer Cape Alumina (ASX: CBX), 76% of Planet Metals (ASX: PMQ) and 79% of Metro Coal (IPO prospectus due out soon).  As well Metallica has $14 million in cash with a tight share capital.

Largest shareholder is Tien Mining, second largest producer of nickel and cobalt in China.

Of Nornico, he said nickel laterites are challenging but Metallica was comfortable that risks can be reduced by increased recoveries and higher grade.  Nornico currently has a resource of 51 m/t @ 0.72% Ni, with 364,000 tonnes of contained nickel.  Investors should be looking for an increase in resource in the near term.

Cape Alumina owns 100% of the Weipa Bauxite project, one of the largest bauxite projects in the world.  Its valuation, alone should ensure a higher valuation for Metallica.

Planet Metals with the Wolfram Camp Mine and tungsten/molybdenum prospect, the company was looking to do some drilling soon.

Metro Coal owns 4000 sq km of coal and potential UCG tenements in the Surat Basin.  It was targetting 2.5-3 billion tonnes of coal exploration target.  There was a 100 hole drilling program for 25,000 metres planned.

 

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Wed, 28 Oct 2009 13:26:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/158996/metallica-minerals-presents-strong-core-value-of-assets-at-mining-2009-3043.html
<![CDATA[News - Metallica Minerals shares rise on new resource estimate due for NORNICO project ]]> https://www.proactiveinvestors.co.uk/companies/news/158995/metallica-minerals-shares-rise-on-new-resource-estimate-due-for-nornico-project-2977.html Metallica Minerals Limited (ASX : MLM) is expected to release a new resource estimate next month for the Kokomo nickel-cobalt laterite component of the company’s flagship NORNICO project in North Queensland.

News of the update saw shares rise 2c, or 7.4 per cent, to 29c.

An updated independent resource estimate for the Kokomo resource is currently being undertaken by Golder Associates of Brisbane, using data from the recently completed infill and step out drilling program.

It is expected that this revised resource estimate will be completed by mid-late November.

The company believes the size of the Kokomo resource will increase using the latest 2009 drilling data, as significant mineralisation was identified outside the current resource boundary.

The current Kokomo nickel-cobalt laterite Inferred & Indicated mineral Resource estimate, released in January, stands at 12.2 Mt @ 0.67% Ni and 0.12% Co, (using a 0.70% Ni Eq.1cut-off grade).

Of this, 5.2Mt @ 0.69% Ni and 0.13% Co is classified in the Indicated Resource category with 7.0 Mt @ 0.66% Ni and 0.11 % Co classified in the Inferred Resource category.

The revised independent resource estimate currently being undertaken follows completion of the company’s major infill and step out drilling program at the Kokomo Nickel – Cobalt & Scandium laterite project, located approximately 45km north of the township of Greenvale, North Queensland.

In June to September 2009, a further 307 RC holes and 4 diamond holes have been drilled on the central portion of the Kokomo Ni-Co- Sc laterite project.

The drilling was aimed at further defining and finding new higher grade zones of nickel-cobalt mineralisation on the eastern and western sides of the Kokomo Plateau and to complete infill holes within the high grade Ni-Co zone to increase the current resource categories from Indicated and Inferred to Indicated and Measured.

The diamond drilling provided additional geological information, bulk density data and provide large diameter core for future metallurgical testwork.

The Kokomo Ni-Co & Sc laterite deposit formed on a north-east/south-west trending ultramafic unit which outcrops for a strike length of 16km and can be up to 800m wide.

Interestingly, Metallica has only drill tested approximately 7km of the entire ultramafic strike length.  However the
drilling has been concentrated in the central (and most prospective) part of the Kokomo laterite (the Central Plateau Area) where laterite development is most pronounced and where it is at its widest.

In the 4.5 km long Central Plateau Area the laterite can be up to 60m in thickness, between 400m and 800m wide.

Highlights from the 2009 drilling not previously reported (holes 746-913) include 35m @ 0.81% Ni and 0.22% Co (1.36% Ni eq) (Ni+ 2.5 Co*), 7m @ 1.14% Ni and 0.79% Co (3.11% Ni eq) and 16m @ 0.80% Ni and 0.54% Co (2.15% Ni eq).

High grade scandium mineralisation, a valuable rare earth/tech metal used in Fuel Cells and as a major enhancer of aluminium alloys, was also intersected in the current round of drilling at Kokomo, with drill hole KK-805 intersecting 37m averaging 437ppm Sc.

Results are still being compiled and details on the Kokomo scandium project and drilling results will be included at a later date.

Other news also includes the commencement of Metallica’s application for a 3,600 hectare mining lease  over the Kokomo.

The company will re-commence drilling at Kokomo in late October.

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Thu, 22 Oct 2009 13:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/158995/metallica-minerals-shares-rise-on-new-resource-estimate-due-for-nornico-project-2977.html
<![CDATA[News - Metallica Mineral's 30% increase in Nornico nickel metal resource ]]> https://www.proactiveinvestors.co.uk/companies/news/158994/metallica-minerals-30-increase-in-nornico-nickel-metal-resource-0681.html Metallica Minerals (ASX:MLM) has announced a maiden resource of 12.2 million tonnes for one of the key deposits within the Company’s flagship nickel and cobalt project in north Queensland. 

The JORC estimate is the first for the Kokomo nickel–cobalt deposit which lies centrally within Metallica’s Nornico project area, northwest of Townsville.  Combined with existing resource estimates for the project’s nearby Bell Creek and Minnamoolka deposits, the new Kokomo contribution has lifted Nornico’s total resource estimate to 50.8 million tonnes.

The Kokomo resource estimate identified an Inferred and Indicated mineral resource of 12.2 Mt @ 0.67% Ni and 0.12% Co, (using a 0.70% Ni Eq. The resource is based on results from 607 drill holes.  Within the resource are higher grade nickel - cobalt zones which are expected to be amenable to selective mining. All of the nickel and cobalt resource is within 50m from surface.

Increase in total resource estimate

The inclusion of the Kokomo resource as part of the total NORNICO resource statement gives a new combined resource estimate of 50.8Mt @ 0.72% Ni and 0.06% Co. This has resulted in a 30% increase in Nornico’s nickel metal resource, a more than 100% increase in the cobalt resource and a 32% increase in resource tonnage.

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Mon, 19 Jan 2009 00:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/158994/metallica-minerals-30-increase-in-nornico-nickel-metal-resource-0681.html