W Resources PLC (LON:WRES) has revealed that initial assays results from the reverse circulation drilling campaign at its São Martinho gold project in Portugal has shown thick gold intersections and high grades.
Highlights from the first seven holes of the 15-hole campaign are a 25-metre intersection of gold at 0.85 grams per tonne (g/t), with 11 metres including 3.35 g/t of gold over 3 metres.
Kalahari Metals, a privately-held company in which Metal Tiger PLC (LON:MTR) has recently invested, has begun exploration for copper and silver in Botswana.
The company holds interests in seven highly prospective exploration licences covering 4,063 square kilometres in the Kalahari copper belt, consisting of two 100%-owned exploration licences and five exploration licences subject to a binding earn-in agreement with Triprop Holdings Limited.
Gold production by Pan African Resources plc (LON:PAF) was ahead of recent guidance in the year to the end of June.
Gold production in the financial year just ended clocked in at 160,421 ounces (oz), which was ahead of the group's most recent production guidance range of 157,000 – 160,000 oz.
Shares in ECR Minerals PLC (LON:ECR) shot up this week after the precious metals exploration and development company announced details of a strategic financing.
The share price, already flying high after its interim results and news of drilling success at its Blue Moon gold prospect in Australia, rose 14.8% to 0.78p after the company raised £650,000 through the issue of 92.9mln shares at 0.7p a pop.
Ariana Resources plc (LON:AAU) saw its shares jump higher on Wednesday as the group said it produced record amounts of gold from its Kiziltepe mine in Turkey in the three months to June as its ramp-up continued.
Kiziltepe, a joint venture with Turkish firm Procea, produced 7,171 ounces (4,866 oz), a 47% increase quarter-on-quarter.
Chaarat Gold Holdings Ltd (LON:CGH) has to date drilled approximately 6,000 metres of the planned 30,000 metre 2018 drilling programme.
Eight drill rigs are currently in operation on site at Tulkubash in Kyrgyzstan.
KEFI Minerals plc (LON:KEFI) has all the required consortium members working hard to close full project financing for Tulu Kapi this year.
In a statement released ahead of the company's annual general meeting on Thursday, the company's executive chairman, Harry Anagnostaras-Adams, said KEFI “stands ready to develop Tulu Kapi as Ethiopia's first modern gold mine and then pursue organic growth via KEFI's already-established project pipeline in Ethiopia and in Saudi Arabia”.
Tertiary Minerals plc (LON:TYM) said Swedish authorities have advised against granting a mining permit for the Storuman fluorspar project in its current form but it is considering its next steps to overcome the hurdle.
In April, the company submitted requested supplementary reports to the Swedish Mining Inspectorate regarding its application for a mining permit after meetings between the two and the County Administrative Board of Västerbotten (CAB).
Namibia-based tin group AfriTin Mining Ltd (LON:ATM) is on track to produce its first concentrate from the Uis mine by the end of the year.
Work is underway to upgrade the pilot plant to 65 tonnes per month of tin concentrate.
Lionsgold Limited (LON:LION) has announced the appointment of Michael Anthony Corcoran as its interim chairman and non-executive director with immediate effect. He replaces David Price, who has stepped down from the board to focus on his role as CEO of a separate company.
Caledonia Mining Corporation (LON:CMCL, TSX:CAL) has reported an increase in gold production at its Blanket mine in Zimbabwe for the first half of the year
The gold miner said around 25,582 ounces of gold had been produced in the first half of the year, marginally ahead of the 25,316 ounces produced in the same period a year ago.
Strategic Minerals Plc (LON:SML) released a quarterly update on its sales performance, for the Cobre magnetite tailings operations, which shows it had “maintained and improved” underlying volumes.
The figures, for the three months ended June 30, however, don’t include the impacts of a suspension of transactions with a major client as they are due to be reflected in the numbers for the current quarter.
European Metals Holdings (LON:EMH) reported that it has completed roast optimisation test-work and that improved recoveries have resulted in modelled lithium carbonate production from the Cinovec Lithium-Tin Project increasing to 22,500 tpa.
All recent roast/leach tests have reliably achieved lithium extractions in the region of 94% recovery.
Arc Minerals Limited (LON:ARCM) said it has commenced drilling at the Zamsort Copper Cobalt project in Zambia, while also upping its stake in the project by 5%.
Arc said the 11,000m drilling programme would consist of 6,600m diamond drill and 4,400m RC drilling which is aiming to delineate a shallow oxide resource for a commercial scale demonstration plant currently being optimised, as well as to establish a maiden resource estimate at the Kalaba Copper Cobalt area, where the Zamsort project is located.
NQ Minerals PLC (AQSE:NQMI, OTCQB:NQMLF) said its subsidiary Hellyer Gold Mines has entered into two marketing and off-take agreements, combined with US$10mln secured prepayment facility agreement with Traxys Europe.
The Australia based exploration and mining company said the marketing and off-take agreements relate to the sale of all the lead and zinc concentrates to be produced from NQ Minerals' wholly-owned Hellyer project located in Tasmania and cover the first five years of concentrate production.
Bushveld Minerals Ltd’s (LON:BMN) partnership with South African electricity utility Eskom has received its first vanadium battery.
US firm UniEnergy Technologies built the unit, which will run on a mixed-acid vanadium electrolyte.
An upswing in exploration for minerals in West Africa provided good momentum for Capital Drilling PLC (LON:CAPD) in the latest half-year.
Revenues at the drilling contractor rose to US$27.8mln in the quarter to June, a 4.5% increase on the previous quarter though 9.4% lower than a year ago.
Shanta Gold Ltd (LON:SHG) has met its cost reduction target three months ahead of schedule.
The East Africa-focused gold producer has shaved an annualised US$7.2mln from costs by renegotiating contracts with suppliers and by eliminating non-essential general and administrative spending.
Shefa Yamim (A.T.M.) Ltd (LON:SEFA) has reported “encouraging” results from the first bulk sample collected at the Kishon Mid-Reach Zone 2 site.
The Israel-focused precious stone explorer said the BS-1230 bulk sample, the first of five collected at the end of 2017 to determine a potential resource, was dominated by gemstones at 99%, with spinel accounting for 57% of the target mineral assemblage (TMA) followed by garnet at 18%, ilmenite at 15%, sapphire at 5%, Carmel Sapphire at 3% and hibonite, moissanite and ruby comprising the remaining 2%.
Tharisa PLC (LON:THS) produced a record 39,500 ounces of platinum group metals during the three months to June 2018, up 3.4% on the previous quarter.
Production of chrome concentrate also hit a record, at 376,300 tonnes, up 2.6% on the quarter.
Berkeley Energia LTD (LON:BKY) has announced that the capital cost review initiated by the company has identified a number of opportunities to reduce the initial capital expenditure at the Salamanca mine, required to bring it into production.
The company said potential saving of up to €9mln arise from optimisation of plant capacities, outsourcing of peripheral infrastructure and reducing initial throughput for production from the Retortillo deposit.