Kasbah Resources announced latest drilling results at its Achmmach project in Morocco, where five rigs are carrying out an infill programme to confirm the new geological model of the resource announced in March. The Achmmach resource is currently 5.3 million tonnes indicated and 9.3 million tonnes inferred ore and the object of the current work is to upgrade estimates for some areas of the orebody from inferred to indicated category. Latest drill holes have included several intersections grading over 1.2% Sn. Kasbah is due to complete a prefeasibility study on the project, which could produce around 6,000 tpy of tin-in-concentrate, in the current quarter.
Venture Minerals has been granted a mining lease from the Minister for Energy and Resources for the Livingstone Direct Shipping Iron Ore (DSO) Project in Tasmania. The granting of the license, which covers one of the Company’s two DSO hematite deposits, brings the Company another step closer to generating a significant cash flow that would support the development of the company’s flagship Mt Lindsay tin/tungsten project. The low capex, high margin Livingstone mine could potentially start production early in 2013 (roughly a year ahead of Mt Lindsay), although conditions of the mining lease stipulate that the company still requires environmental approval to commence production at Livingstone.
Consolidated Tin Mines has just begun a second 2012 drilling programme at its Mt Garnet project in Queensland, following immediately on from the completion of a 3,067 programme focused on its Pinnacles and Gillian deposits. The new 2,500 metre drill programme will again focus on Gillian and Pinnacles, plus further drilling at the Deadman’s Gully deposit. Results will be included in the independent JORC resource review that is currently underway. The current resource estimate for the group of deposits forming the Mt Garnet is 7.38 million tonnes at 0.6% Sn. Consolidated Tin is due to complete a prefeasibility study in the third quarter of 2012 and a full feasibility study by the end of the year.
Canadian-listed Celeste Copper will increase its stake in the South Crofty mine/project in the UK to 25% by the end of June. Celeste has built up its shareholding over the last year as part of an earn-in agreement based on financing exploration at the mine, which closed in 1998. The deadline for completing the first stage of a deal which could ultimately earn a 100% shareholding in Cornish Minerals Ltd. has been delayed by one month to allow Celeste to complete financing arrangements. Celeste’s newly appointed President and CEO Alan Shoesmith told local media that the mine could re-open as a poly-metallic tin, copper and zinc operation by 2015.
