Quick fire – industry news briefs

News updates on EQ Resources, Tombola Gold, Mitchell Services, Engineers Australia, Chalkos Metals and more … Tombola Gold has announced positive results from the first two drill holes of a four-hole program at the Mount Scheelite target, within the company's Golden Mile Complex, Cloncurry. “The initial drilling success at our Mount Scheelite target is very important as we seek to find additional goldmineralisation to extend the life of mine at our flagship Mount Freda Gold Mine that will commence production over the coming months," Tombola Gold managing director Byron Miles said. Intersects include 21m grading at 3.27 g/t gold, including 4m at 11.53 g/t. Viridian Capital has been appointed as lead manager to Chalkos Metals on its IPO capital raise., with the offer period now open. The IPO prospectus contains an offer of shares to raise a minimum of $6 million at an issue price of $0.20 per Share, with a maximum subscription of $8 million before costs. The company, through subsidiaries Nova Strategic Minerals and May Downs Resources, owns six exploration permits for minerals (EPM) and two EPM applications considered prospective for copper and base metals located about 10km from Mount Isa. Mitchell Services has reduced its expectations for EBITDA this financial year to $31-$35 million compared to the previous guidance of $40-$44 million for the same period. It comes amid record levels of rainfall from multiple severe wet weather events across the country, hampering the company's expected drilling ramp-up. The company said also that COVID-19 related absenteeism due to illness or close contact isolation was higher than ever since the start of the global pandemic -with productivity and project margins reduced as a result. Engineers Australia has named Romilly Madew as the new chief executive officer for the peak professional body, following the retirement of Dr Bronwyn Evans in May. Ms Madew was appointed CEO of Infrastructure Australia in early 2019 and was responsible for overseeing Infrastructure Australia’s critical role in helping governments prioritise projects and reforms that best serve our communities. Engineers Australia national president Dr Nick Fleming said Ms Madew was chosen after an extensive executive search that spanned the engineering sector and industry. A new professional development course from UQ’s Sustainable Minerals Institute for Governance for Mining and Resources Leaders has been designed to support site and corporate line managers in the resources sector. SMI Governance and Leadership program leader Susan Johnston said the Governance for Mining and Resources Leaders course filled a crucial gap for people who already ‘know mining’ but need to manage increasingly complex environmental, health, safety and social performance requirements and expectations. Drilling at Mount Carbine has encountered significant mineralisation in the zone west of the pit (West Dyke area), where the King-Veins have been intersected continuing westwards. EQ Resources carried out the work to target shallow mineralisation with the potential to extend the planned open cut as per the company’s Mount Carbine Bankable Feasibility Study. Chief executive officer Kevin MacNeill, commented; “It was unexpected that we intersected a high grade zone of mineralisation of 5.95m at 0.94 per cent WO3 on our last section going westward from the open pit. "This shows the high grade repeats itself along strike. Knowing that our geophysics highlights this extension, it is a very encouraging sign. This mineralisation going west offers significant upside, just when we thought the veins were narrowing and losing some intensity away from the main orebody.”

Quick fire – industry news briefs

Industry Queensland

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