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Proactive weekly mining highlights: Jubilee Metals Group, Ariana Resources Rainbow, Rare Earths

A look back at some of the interesting news from London's small cap mining scene

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It was another busy week for the mining industry

Jubilee Metals Group PLC (LON:JLP) said the first quarter of 2019 was “an exceptional period” for the company.

The group posted a 54% year-on-year (YOY) increase in revenue to £6.56mln and a 57% YOY gain in operational earnings to £3.22mln.

Ariana Resources PLC (LON:AAU) revealed latest drill results from the Kiziltepe mine in the Arzu North area, which show potential for a large-tonnage system.

Highlight results include grades up to 1.5 grams per tonne gold and 17.5 grams per tonne silver.

Rainbow Rare Earths Ltd (LON:RBW) has secured a new funding agreement with its major shareholder, Pella Ventures. Pella has given Rainbow an unsecured 12-month 15% loan of US$700,000 to support the rare earth element mining company’s development and operations.

Shanta Gold Limited (LON:SHG) said exploration at the Bauhinia Creek deposit at the New Luika gold mine in Tanzania has indicated the mine life can be extended further at depth.

Drilling below the existing reserves suggested the underground mining operation can go down for at last another three levels, with the mineralisation remaining open at depth.

ECR Minerals PLC (LON:ECR) told investors on Wednesday that drilling at the Creswick gold project in Victoria, Australia, has identified more extensive quartz than expected.

The company completed 1,687m of reverse circulation drilling in 17 holes at the project targeting multiple quartz vein orientations within the Dimocks Main Shale (DMS).

Greatland Gold PLC (LON:GGP) has started a field exploration campaign at its Black Hills licence in Western Australia while also announcing plans for a maiden drilling programme at the site. The precious metals explorer said it would begin the programme with a high powered, deep sensing Induced Polarisation (IP) survey, a geophysical imaging technique designed to detect underground materials such as ore.

Natural resources investor Metal Tiger PLC (LON:MTR) has set out the upcoming exploration programme for its portfolio of assets in the Kalahari copper belt in Botswana.

Metal Tiger holds a 30% stake in several licence areas in joint venture with MOD Resources, which owns the other 70%. MOD – in which Metal holds a 10.5% stake – also owns the T3 copper project.

Tungsten miner W Resources PLC (LON:WRES) has secured a €3mln loan facility with Caja Rural de Extremadura. The loan facility provides an advance of funding against the €5.3mln grant awarded by the Junta de Extremadura Government that is expected to be paid to the company in the final quarter of 2019.

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