News updates on ActivEX, Alma Metals, Carbine Resources, R3D Resources, Ventia and more …

Alma Metals has exercised its option to commence an earn-in joint venture at Canterbury Resources’ Briggs, Mannersley and Fig Tree Hill copper project in Central Queensland.

Alma can ultimately reach 70 per cent ownership in a staged deal that would see it fork out a total of $15.25 million for exploration and evaluation programs in the next decade.

The company has already funded more than $750,000 of assessment activity during the option phase of the deal.

The earn-in phase will see Alma contribute $2.25 million to earn a 30 per cent interest before June 30, 2024; a further $3 million to reach 51 per cent interest before June 30, 2026; and a further $10 million of expenditure to reach a 70 per cent interest before June 30, 2031.

Carbine Resources will not go ahead with the proposed acquisition of the Sandbox silica sands project in Far North Queensland.

The company said that the condition precedent regarding the approval of Carbine’s shareholders would not be able to be met and the vendors have not agreed to an extension of the term sheet.

The company will continue to progress its Muchea West silica sand project in Western Australia
which has the potential to host a substantial, high grade, low impurity silica sand deposit.

R3D Resources has appointed mining engineer Scott Jones as chief operating officer.

The role involves managing R3D’s operating activities including, the refurbishment and restart of copper sulphate production from the Tartana plant in the Chillagoe region.

Mr Jones’ experience includes 12 years at Newcrest Mining, general manager operations at Capricorn Copper, and consultancy roles across project development, mine construction, and operational improvement.

Ventia has won contracts to carry out an upgrade of the sewage treatment plant and the alkali mist reduction project at QAL’s Gladstone alumina refinery.

The  contracts incorporate supply of materials and labour for the upgrade of the existing sewage treatment plant, and structural strengthening work and pipework installations within the refinery.

Ventia general manager operations for resources and industrial, Darren Truscott, said the company was deeply experienced in providing services throughout Australia in design and engineering, greenfield and brownfield projects, operations and maintenance and shutdown and turnarounds.

Cook Shire Council has allocated $1.8 million to upgrade the Coen airport as part of a $25 million capital works program in its 2022-23 Budget.

The shire’s $73.8 million annual budget is built on about $52.1 million in projected State and Federal grants.

Other spending items include $40,000 to progress an aviation park development at Cooktown airport.

“We’ve tried to ensure our ratepayers are getting bang for their buck with this carefully crafted budget and the 3 per cent increase in this year’s rates that is very much in line with what many other local governments around Queensland have announced,” Mayor Peter Scott said.

Tenders are out for RAAF Townsville central emergency power station replacement works for the Department of Defence.

This project involves replacement of diesel generators, communication system upgrades, replacement of control systems and remote transmitters, demolition, mechanical and electrical works, staircase repairs and painting. Details HERE.

Explorer ActivEX has reported encouraging high-grade gold assays from sampling programs at the Georgetown project in North Queensland.

The company has received 66 soil, 34 rock (including pegmatites) and 13 stream samples back from the ALS geochemistry laboratory in Townsville.

Results include 25.6g/t gold and 16.3ppm silver; 13.4g/t gold, 23.1ppm silver and 0.43 per cent lead; 7.0g/t gold, 306ppm silver, 0.24 per cent copper, 12.3 per cent lead and 1.1 per cent manganese.

“These first-pass gold and critical metal assays for Georgetown provide an encouraging indication that Georgetown is host to a number of metals and critical minerals with good grades,” managing director Mark Derriman said.

“The assays we’ve received to date still only represent a small population of the total amount of sampling work planned for the tenements, so on that basis the results look particularly encouraging.

“In addition, we are expanding our footprint in the region with three new applications (below in green) currently with the Queensland Mines Department for approval.”