Quick fire – industry news briefs

Renegade Exploration has reached about 950m in drilling at its Mongoose Deeps anomaly within the Cloncurry project and is now approaching the primary target zones 1000-1200m down hole. Renegade chairman Robert Kirtlan said the team expected to enter the primary target zone within the next week. "As we have previously stated, this hole is the culmination of over six months of geophysics, processing, modelling, mapping, and planning and has delineated a coincident magnetic-gravity anomaly which is situated beneath copper-gold mines, deposits, and historical workings. We remain excited to complete the remaining 600-700m or so of drilling,” he said. Electromagnetic survey work has identified a new cluster of anomalies at QMines' newly discovered Artillery Road prospect within the Mount Chalmers copper and gold project, north-east of Rockhampton. The company said geochemical modelling, field mapping, and petrographic analysis of reverse circulation drilling samples had improved the understanding of the deposit, and drilling to date suggested the Artillery Road prospect was part of a larger skarn system. "The company will commence drilling these new targets once field investigation is completed and access and compensation agreements have been finalised," QMines executive chairman Andrew Sparke said. "With 40 plus electromagnetic and newly identified induced polarisation anomalies to assess, QMines has an excellent pipeline of regional drilling targets that will extend well into the future.” Metarock Group has completed the sale of its Pybar mining business to Thiess as announced on March 18. The company said its net cash proceeds (after transaction costs) were about $42.9 million after repaying Pybar’s invoice finance facility and deducting Pybar’s outstanding net debt from the agreed transaction enterprise value of $65 million. “I am pleased to advise that completion of the Pybar sale marks the successful conclusion of Metarock’s turnaround plan initiated in December 2022," Metarock Group managing director and chief executive officer Jeff Whiteman said. "The recapitalisation of Metarock’s balance sheet is now complete, with a return to a net cash position and minimal debt." Emperor Energy has executed an agreement with the vendor to extend the completion date for its acquisition of the Great Caesar mining leases until June 28. This provided the extra time required to complete the mining lease transfer approval process with the Queensland Government Department of Resources and secure exploration program approval, Emperor Energy said. The company announced in October last year that it had executed an asset sale and purchase agreement to acquire the three Great Caesar mining leases, covering 128ha, between Townsville and Charters Towers. Killi Resources has recommenced exploration at its Mount Rawdon West project, with surface mapping, rock chip sampling and ground-truthing of geophysical targets. The company said recent reviews had highlighted further copper-gold potential at the Baloo and Kaa prospects. Field work has been planned to further understand veining, alteration and geology of the targets, as the company explores for a new epithermal-porphyry copper-gold system. SRG Global has been awarded multiple contracts valued at $125 million in the renewable energy, resources and energy sectors across Australia. The work includes a six-year term contract for asset integrity and rope access services with Rio Tinto at the Yarwun refinery in Gladstone (pictured below) and an asset integrity services contract extension with Origin Energy across Queensland. It also includes work at the Tumut 1 Power Station site for Snowy Hydro in New South Wales and an initial infrastructure contract for the design and construction of concrete tanks for BHP Iron Ore in Newman, Western Australia.

Quick fire – industry news briefs

Industry Queensland

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