Quick fire – industry news briefs

News updates on Australian Mines, Kestrel Coal Resources, Cooper Metals, Collaborative Exploration Initiative (CEI) grants, and more … EQ Resources has awarded a drilling contract to DDH1 Drilling for its Phase 2 2022 drilling program, with field works starting at the end of November. The company said this drilling campaign was primarily targeting the potential for pit extension at its Mount Carbine tungsten operation. The program is planned to include 23 holes for 3015m. EQR said upside potential existed to add several further years of open-pit mining to the mine plan under its bankable feasibility study update. Cooper Metals says its November drill program has found new zones of mineralisation at King Solomon 1 and 2, at its Mount Isa East copper-gold project in North-West Queensland. "The potential of this new mineralisation will continue to be assessed at depth with IP ahead of any more planned drilling," managing director Ian Warland said. The first batch of drill samples was in the laboratory on rush, with results expected in December, he said. "Now just 12 months on from Cooper listing on the ASX, we have completed over 60 drill holes, many of which have intersected copper-gold mineralisation, and we have also generated an enviable pipeline of targets through the use of VTEM, ground geophysics and geochemistry which we will continue to test through 2023 and beyond." An Induced Polarization (IP) survey has commenced at King Solomon 1 to search deeper (200m plus) beyond the range of the current drilling to assess the depth potential of the copper-gold mineralisation. The next round of Queensland's Collaborative Exploration Initiative (CEI) grants officially open on December 1 and will close January 11. The CEI supports innovative mineral exploration by providing funds up to $250,000 to successful applicants undertaking exploration activities aimed at the discovery of critical minerals in Queensland. For Round 7, priority is given to the discovery of critical minerals required for transition to a decarbonised future. Applications exploring for coal, gas and petroleum will not be considered. The Guideline for Round 7 of the initiative is now available online. Sconi mine proponent Australian Mines has secured a $4.55 million investment from Lind Partners and SBC Global Investment Fund through share subscription agreements. The company has also announced a 1 for 9.8 non-renounceable entitlement offer to existing shareholders to raise up to about $2.8 million (before costs). The entitlement offer is underwritten to a total of $1.3 million, made up of $1.05 million by Bell Potter, plus board and key management personnel underwriting $251,000. "Over the coming months the funds will be applied to project financing activities, environmental works and technical studies to advance the Sconi Project along the path to Final Investment Decision (FID)," chief executive officer Michel Holmes said. "Australian Mines will bolster the management team to manage these activities and undertake exploration1 programs outside the Sconi Project’s current Ore Reserve and Mineral Resource to determine additional potential.” The successful commercialisation of PhotonAssay technology has been recognised with a Prime Minister's 2022 Prize for Innovation. The recipients were CSIRO's Dr Nick Cutmore along with Dr James Tickner and Dirk Treasure from spin-out company Chrysos Corporation. The PhotonAssay technology delivers faster, safer, more accurate and environmentally friendly analysis of gold for the minerals industry. Chatham Rock Phosphate has taken a step forward with its selenium prospect EPM 28606 in the Tambo region of Central-West Queensland as the Department of Resources has approved the exploration work program. Chatham said the inclusion of selenium in the Queensland Government schedule of New Economy Minerals (NEM) recognised the significance of the mineral to the State. Selenium is to be found in its inorganic state as in the seleniferous Toolebuc Formation and in the organic state in certain plants. The company has an interest in both forms, since selenium has application in new technologies as well as in fertilisers and supplements for livestock in selenium deficient areas of Australia and New Zealand. It plans to apply for exploration funding under the Queensland Government’s $26 million Collaborative Drilling Program. Kestrel Coal Resources has claimed the award for Outstanding Mine Performance as well as the major accolade of Mine of the Year in 2022 at the recent Australian Mining Prospect Awards, held in Perth. Underground operations manager Daniel Proffitt accepted the award on behalf of Kestrel and said it had been a special year for the mine, which has celebrated 30 years of operation. “With purposeful investment into our safety and culture, our values drive high-performance and mateship. In 2022, we have upheld our commitment to developing our people and frontline leaders, who are at the core of our success,” Mr Proffitt said. A $37.5 million program of safety works on the Kennedy Highway between Mareeba and Atherton is now complete. The upgrade included installing wide centre line treatment, audio tactile line-marking, shoulder widening and safety barriers. Key intersections were upgraded from savings from the project to include turning lanes, bike lanes and improved lighting and line-marking. The project, which began in late 2020, has provided safety treatments along 21km of the Kennedy Highway, making it safer for drivers travelling between Mareeba and Atherton.

Quick fire – industry news briefs

Industry Queensland

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