Quick fire – industry news briefs

C29 Metals has established the presence of wide chalcopyrite intervals in three separate settings at its Mayfield project in north-west Queensland in its maiden RC drill program there. The rig has been demobilised after completing seven planned deep RC holes for 2488m. “We remain excited with observations from our maiden drilling at Mayfield, with extensive intense alteration encountered in most holes drilled, and significant visual copper sulfide mineralisation observed in three separate settings," executive director Jeremy King said. "As an initial test of prospective ground for IOCG-style mineralised systems we are already seeing significant widths of copper mineralisation in drilling, underlining the potential for fresh discoveries to be made at Mayfield. "We look forward to announcing results from drilling in early February, and for the last two holes in early March.” SQX Resources has carried out a soil sampling program focused on Scrub Paddock prospect within its tenement EPM 27257, north-east of Nanango. The sampling program, in conjunction with planned geophysical studies, is designed to optimise placement of drill holes for a future drill program at Scrub Paddock. The company said 106 Soil Samples and one rock samples had been collected and despatched to the laboratory. SQX is targeting a copper/gold porphyry system at Scrub Paddock. More details HERE Emeco has completed the sale of key underground mining contracts and assets to Macmahon Holdings. The transaction comprised the transfer of Pit N Portal customer contracts, employees and non-mining fleet assets to Macmahon, in exchange for surface and underground mining equipment which are core to Emeco. Emeco and Macmahon have also entered a five-year agreement under which Emeco will become Macmahon’s preferred equipment rental provider for both surface and underground, including the rental of Emeco’s existing underground fleet at projects transferring to Macmahon. MacMahon said an important element of the Pit N Portal transaction was the significant skilled employee base that would add to the company’s workforce in the tight Australian labour market and facilitate the current pipeline of underground opportunities for Pit N Portal and Macmahon. "This is consistent with the company’s strategy to build scale and capability in the underground division," it said in an announcement to the market. Inca Minerals is undertaking a renounceable rights issue to raise up to $2.75 million. Inca said funds raised would be used to progress various exploration programs in Australia, including MaCauley Creek near Townsville as well as Jean Elson, the Frewenas and the new lithium projects at Collia South and Brammall Hills, Tent Hill, West Brammall Hills, as well trying to secure a joint venture for the Riqueza Project in Peru and additional working capital. More HERE

Quick fire – industry news briefs

Industry Queensland

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