Vital Metals Hits 2m @ 48.4g/t Au at Bella Tondi
ASX Announcement 10 April 2018
- Vital hits 2m @ 48.4g/t Au from 102m in hole BTRC047 in the middle of the emerging 200m or more high‐grade southern zone at Bella Tondi in Niger
- Located approximately 90m north along strike from the ultra‐high grade result of 4m @
157g/t Au from 76m in hole BTRC040 reported 27 March 20181 and;
- 110m south along strike from the high‐grade result of 2m @ 36.5g/t Au from 62m in hole
BTRC005B reported 8 March 20182
- Diamond drill rig to begin testing of high grade zone at Bella Tondi within 2 weeks
Vital Metals Limited (ASX: VML) is pleased to report it has identified further high‐grade gold mineralisation from the latest round of drilling results from its maiden reverse circulation (RC) drill program at the Bella Tondi prospect, part of the Bouli Gold Project in Niger, West Africa.
Vital Managing Director Mark Strizek said:
“BTRC047 has hit 2m @ 48.4g/t Au in the emerging high grade southern zone at Bella Tondi which now appears to extend for at least 200 metres. This is the third intersection we have reported over an ounce of gold which includes the ultra‐high grade 4m @ 157 g/t Au and 2m @ 36.5g/t Au.”
“There was an incredible gold rush at Bella Tondi in 2016 with over 20,000 artisanal miners chasing high grade gold and with the latest drilling result we are starting to understand why they were there.
“We have now reported three separate ounce‐plus intercepts from shallow depths of between 50 and 90 metres below the artisanal workings over a strike length of 200m. The potential of this system at depth looks extremely promising. It is found that with this style of gold mineralisation the greatest continuity tends to be vertical.
“The next step is simple – drill deeper and along strike to test the depth and strike potential of
these high‐grade shoots.”
Vital Metals hits 4m @ 157g/t Au at Bella Tondi
ASX Announcement 27 March 2018
- Vital hits 4m @ 157g/t Au from 76m in hole BTRC040 in the emerging high‐grade southern zone at Bella Tondi in Niger
- This hole is 200m south along strike from the high‐grade result of 2m @ 36.5g/t Au from 62m in hole BTRC005B reported 8 March 2018
- Vital will now aggressively target along strike, down‐dip and down‐plunge extensions at Bella Tondi to identify more high‐grade shoots
- Additional assays from 7 more holes are in progress, expected within 3 weeks
Vital Metals Limited (ASX: VML) is pleased to report it has identified ultra‐high‐grade gold mineralisation from further results from its maiden reverse circulation (RC) drill program at the Bella Tondi prospect, part of the Bouli Gold Project in Niger, West Africa.
Vital Managing Director Mark Strizek said:
“BTRC040 has hit ultra‐high grade of 4m @ 157 g/t Au from 76m. This was from a zone where visible gold was observed in RC cuttings. “This is an exceptional result that builds the grade profile of Bella Tondi from the previous best result which was BTRC005B 200 metres to the north that hit 2m @ 36.5g/t Au from 62m.
“We are planning to drill deeper and test the depth potential of these high‐grade shoots that have been shown to have a greater depth extent than their strike.
“These latest results from Bella Tondi indicate why so many artisanal miners were focussed on chasing the gold mineralisation along the Bella Tondi Structure.”
This chart shows the price per mtu (10kg) of APT (Ammoniumparatungstate) in Australia dollars
Almonty Industries Inc. Announces That It Has Signed a Ten Year Off-Take Agreement with a Guaranteed Minimum Value CDN$500,000,000 for Its Wholly-Owned Sangdong Tungsten Mine in South Korea
March 13, BusinessWire
Almonty Industries Inc. (“Almonty” or the “Company”) (TSX-V: AII) is pleased to announce that it has entered into a new off-take agreement dated March 12, 2018, (the “Off-Take Agreement”) with an existing customer (the “Customer”) for the tungsten concentrate to be mined and processed at the Company’s wholly-owned Sangdong Tungsten Mine in South Korea. The agreement has a term of 10 years and, based upon current pricing models and, subject to the terms and conditions of the agreement, the agreement calls for guaranteed revenues for the Company for a minimum of CDN$500,000,000.
March 9, Bloomberg
China is cracking down on pollution like never before, with new green policies so hard-hitting and extensive they can be felt across the world, transforming everything from electric vehicle demand to commodities markets.
Four decades of breakneck economic growth turned China into the world’s biggest carbon emitter. But now the government is trying to change that without damaging the economy—and perhaps even use its green policies to become a leader in technological innovation. So, as lawmakers attend the annual National People’s Congress, here’s a look at the impact of the environmental focus, at home and abroad.
November 22, Auto Blog
Cobalt and tungsten key to cheaper, cleaner hydrogen
October 30, 2017 - Science Daily
Electrolysis, splitting the water molecule with electricity, is the cleanest way to obtain hydrogen, a clean and renewable fuel. Now, researchers at ICIQ and URV, led by Prof. José Ramón Galán-Mascarós, designed a new catalyst that reduces the cost of electrolytic hydrogen production. Catalysts reduce the amount of electricity needed to break the chemical bonds, speed up the reaction and minimise the energy waste...
November 25, 2016 - Kurzweil News
April 28, 2017 - NC State News
May 2, 2017 - Microscopy and Analysis
This new battery tech breakthrough could mean even faster electric vehicles
May 1, 2017 - BGR
Electric vehicles have a few key advantages over traditional combustion-powered cars, and one of the biggest is the potential for extreme acceleration. The Tesla Model S, for example, can go from a standing stop to 60 mph in as little as 2.3 seconds, beating out cars with badges reading Ferrari, Lamborghini, McLaren, and Porsche. Now, thanks to a new breakthrough in battery technology developed by researchers at North Carolina State University, electric cars could become even faster, which is actually somewhat terrifying to think about...
VITAL TO INITIATE COBALT EXPLORATION AT AUE PROJECT, GERMANY
ASX Announcement 16 March 2018
- Vital Metals to initiate cobalt exploration at its 100% owned Aue project in Saxony,
- Permit is located in an area of important historic cobalt production, neighbouring the
Schneeberg Mine which is estimated to have produced over 12,000 tonnes of cobalt ore
- 5 small‐scale historic mines on Aue with biconi veins of the type mined at Schneeberg
which produced high‐grade ore of between 1% and 3% contained cobalt
- Previous East German exploration focused on uranium and tungsten and the permit has
not been explored for cobalt using modern exploration techniques
Vital Metals Limited (ASX: VML) is pleased to announce it will initiate exploration at its Aue permit in Saxony, Germany, with a program of field mapping and geochemical sampling. The Aue project is in the Erzgebirge region of Germany. The area has a rich history of cobalt production with mining occurring from the 16th century through to the late 1930s.
Cobalt production came firstly as a by‐product from silver mining and later in dedicated mining operations. The mines fed the numerous cobalt blue factories in the area producing blue
porcelain and glass.
One of the better known historic mines was Schneeberg, located 4km north‐northwest of the Aue permit. Historical production is estimated 12,000 tonnes of cobalt and nickel metal from mainly hand‐picked ore. This ore is believed to grade between 1% to 3% cobalt won from biconi (Ag‐U) veins containing cobalt and nickel arsenides (skutterudite, rammelsbergite) and native bismuth.
Government geological maps and mining records show that there were at least 5 historic mines on Vital’s Aue permit where mining took place on biconi veins of the type mined at Schneeberg during this period.
Vital acquired the project in 2015 for its tungsten prospectivity, which was mined in Zschorlau in the western part of the permit area from quartz‐wolframite veins between 1917 and 1959. Previous East German exploration at Aue was focused on uranium and tungsten, and the permit has not been explored for cobalt using modern exploration techniques.
Vital Metals Managing Director Mark Strizek said the Company was keen to take a closer look at
the cobalt potential at Aue.
“The permit is right in the heart of Europe’s technology and manufacturing centre. We are seeing
incredibly strong demand that shows no sign of slowing and the Government is very supportive of
the development of these technology metals. After reviewing the data we have on Aue, we are
confident that using modern exploration techniques we can unlock its potential as a cobalt play,
and we are looking forward to accelerating our efforts there.” he said.
Based on solid exploration
The Watershed tungsten deposit was discovered and explored by Utah Development Company Limited (“Utah”) in the early 1980’s with limited further work conducted by Peko-Wallsend Operations Limited – Geopeko Division (“Geopeko”) in the mid-1980’s. Vital acquired the project in 2005 and has been investigating the deposit since that time.
The deposit has been defined by more than 326 drill holes for over 54km of predominately diamond drilling. Mineralization has been encountered over a strike length of approximately 1500m and down dip to 450m. The deposit is open at depth and along strike.
World class resource
The Watershed Deposit ranks among the 10 largest unexploited non-Chinese tungsten deposits worldwide. This JORC (2004) compliant resource model has been classified using JORC Code and Guidelines and Measured, Indicated and Inferred Resources total 49.2 million tonnes of ore at 0.14% WO3 for 70,400 tonnes WO3 (7.04 million metric tonnes units – mtus) at a 0.05% WO3 cut-off.
The Watershed projects holds all the required permits and agreements, allowing immediate start of construction: Mining Leases – ML, Environmental Authority – EA, Native Title Agreement – ILUA, Agreements with pastoral landholders.
Completed positive DFS
A Definitive Feasibility Study (DFS) was completed by Vital with very positive outcome in 2014. A 2.5Mt ore per year mining and processing operation is supported by strong economics and a mineral reserve of 21.3Mt of ore grading 0.15% WO3 (31,400 tonnes of contained WO3) over a mine life of 10 years.
Excellent exploration opportunities
The Watershed resource is open to depth as well as along strike with high grade drill intercepts known below the current open pit design as well as in close proximity to south of the deposit. This provides great opportunities to extend the life of the Watershed project through future underground or satellite open pit operations.
- 4th largest gold producer in Africa
- 7 gold mines commissioned since 2007
- Exceptional geological potential – still underexplored with significant potential for growth in gold resources
- Mining friendly Government
- Kollo Gold project
- Boungou South Gold prospect
- Zinc projects
David Macoboy Non-Executive Chairman
Mr Macoboy holds a Bachelor of Economics and a Bachelor of Commerce from the University of WA. David is a Certified Practicing Accountant. He is a former Chairman of Ammtec Limited, AVZ Minerals Limited and Territory Resources Ltd and has served on numerous other boards. He has not held any directorships of other listed companies in the past three years.
The Directors and Management of the Company believe Mr Macoboy’s cross-industry experience, especially in the areas of corporate strategy, finance, treasury, risk management and international fund raising, are skills needed to ensure the company’s projects are appropriately funded and promoted.
Mark Strizek – BSc, MAusIMM Managing Director
Mark Strizek is a qualified geologist with over 19 years’ experience in the mining industry and is Member of the Australasian Institute of Mining and Metallurgy. Mark’s career began in the Yilgarn in Western Australia in gold. He has experience in mining and exploration and has also worked as a resource consulting geologist. Prior to joining Vital he was involved in project development of mineral, coal and petroleum resources in both Australia and Papua New Guinea.
Andrew V Simpson – Grad. Dip. Bus (Curtin), MAICD Non-Executive Director
Mr Simpson holds a Graduate Diploma in Business and Administration (majoring in Marketing and Finance) from Curtin University and is currently the Managing Director and Principal of Resource and Technology Marketing Services Pty Ltd (RTM) in Perth.
He formed RTM in 1999 to specialise in strategic and business planning, resource project assessment and marketing. RTM is recognised as one of Australia’s leading market research consultants to the international mining industry.
Mr Simpson is non-executive Chairman of Swick Mining Services Ltd. He is past Chairman of Territory Resources Ltd and India Resources Ltd. Mr Simpson is a Member of the Australian Institute of Company Directors.
Peter G Cordin – B.Eng (Civil) (UWA), F.AusIMM, MIEA Non-Executive Director
Mr Cordin is a civil engineer with over 35 years experience in the evaluation and operation of resource projects within Australia and overseas. He is the former Non-Executive Chairman of Dragon Mining Limited an Australian listed company with gold mines in Sweden and Finland. He has direct experience in the management of diamond and gold operations and has been involved in the development of resource projects in Kazakhstan and New Caledonia.
Mr Cordin is also a non-executive director of Coal of Africa Limited and Aurora Minerals Limited.
Francis Harper LLB (Hons) BEc Non-Executive Director
Mr Harper is a lawyer and has been a director of Blackwood Capital since 2002 and prior to that spent 15 years with NM Rothschild in the US, UK and Australia in M&A and resources finance. Blackwood Capital has raised over $1 billion for small caps since inception. Mr Harper (through Blackwood) financed West African Resources (WAF) and was chairman from 2009 to 2015.