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Recent announcements regarding the South Australian mineral and energy resources sectors

This update covers the March 2018 period and is compiled from information publicly released by companies.

Readers should refer to the latest information available on company websites, particularly in regard to making any forward investment decisions.

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Company news

Argonaut Resources – Aeris Resources

The Full Federal Court has dismissed all three Torrens native title appeals affecting Argonaut Resources’ and Aeris Resources’ Lake Torrens Project (ASX release 19 March 2018).

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Archer Exploration

Archer Exploration identified four high-priority targets at Blue Hills following completion of an airborne electromagnetic survey in January 2018. The new targets and the newly discovered Ygritte and Legolas prospects are all reported to be located under shallow transported cover (ASX release 9 March 2018). In combination with recent RC drilling and soil survey results (ASX releases 25 September 2017 and 28 November 2017), the company has expressed confidence in proceeding with further drilling at Blue Hills.

An update on Archer’s graphene and advanced materials project was provided in an ASX release on 15 March 2018. The environmental approvals process is ongoing with a draft community consultation plan recently lodged with the Government of South Australia for review and approval. Negotiation of an agreement for the development of graphene-based technology in the human health sector is expected to be finalised in mid 2018.

Archer’s collaborative agreement with the University of Adelaide for the Australian Research Council Research Hub for Graphene Enabled Industry Transformation has been varied (ASX release 20 March 2018). The new project will seek to develop and implement graphene and carbon-based materials for use in complex bio-sensing targeting applications in human health.

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Ausmex Mining Group

Cobalt mineralisation has been identified over a strike length of approximately 2 km with grades up to 0.7% Co from rock chip sampling at Ausmex Mining Group’s Willalo prospect (ASX release 8 March 2018).

The prospect is part of the company’s Burra tenement package which has been expanded to cover the known extent of a large conductive target identified as part of the Australian Lithospheric Architecture Magnetotelluric Project, AusLAMP (ASX release 13 March 2018). The target, which is similar in appearance to the Olympic Dam deposit, is considered a possible source of the known Burra high-grade cobalt, copper and gold mineralisation.

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Beach Energy

The second phase of full development of Beach Energy’s Stunsail Field (western flank, Cooper Basin) commenced with two horizontal wells targeting Birkhead Formation and McKinlay Member, respectively. Stunsail 6, the first horizontal well within the Birkhead, drilled a 585 m lateral section where it encountered 203 m of net oil pay – the well will be completed and oil production is anticipated later this year (ASX release 7 March 2018).

Beach also reported success with the South Australia Gas – Cooper Basin Joint Venture five-well gas and oil development campaign in the Tirrawarra–Gooranie Field (Beach 33.4%, Santos 66.6% and operator). Gooranie 9 and Gooranie 10 intersected 38 m and 39 m of net gas pay in the Patchawarra Formation, and 15 m and 0 m of net pay in the basal sandstones, respectively. The wells have been cased and suspended as future producers.

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Boss Resources

Boss Resources has completed acquisition of the remaining 20% interest in its Honeymoon Uranium Project and now fully owns it (ASX release 19 March 2018).

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Centrex Metals

Centrex Metals has sold its Wilgerup and Kimba Gap iron ore projects to SIMEC Mining for a per tonne production royalty capped at $5 million for each project (ASX release 22 March 2018). If SIMEC has not committed to mining within the next 10 years the relevant project(s) will be returned at Centrex’s election.

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Havilah Resources

Havilah Resources reported an inferred resource estimate for cobalt in its Kalkaroo copper–cobalt–gold deposit of 193.3 million tonnes (Mt) at 120 parts per million cobalt containing approximately 23,200 tonnes (t) of cobalt metal (ASX release 7 March 2018). This expands Havilah’s total cobalt metal inventory to 31,390 t, and includes the 8,190 t measured and indicated cobalt resource at the Mutooroo copper–cobalt deposit.

As nearly all cobalt within the Kalkaroo resource is contained within pyrite, it is planned that the cobaltian pyrite will be recovered as a concentrate during the copper flotation process. Kalkaroo contains an estimated 1 Mt of copper and 2.5 million ounces of gold.

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A high-density magnetic survey commenced over four targets within Marmota’s Aurora Tank gold project, including Goshawk and Kingfisher, to enhance structural understanding and optimise drill targeting (ASX release 2 March 2018). The survey will also cover two of 10 newly discovered gold-in-calcrete anomalous zones, CAR and Poly North.

First visible gold in drill core has been reported at Aurora Tank from 14 samples from the January diamond drill program (ASX release 12 January 2018). Ten of the samples contained highly anomalous gold from 5.9 to 43 grams per tonne (g/t) Au (ASX release 22 March 2018).

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Renascor Resources

Two milestones have been achieved at Renascor Resources’ Siviour graphite project: completion of the prefeasibility study and a maiden ore reserve of 45.2 Mt at 7.9% total graphitic carbon (TGC) for 3.6 Mt of contained graphite (ASX release 14 March 2018).

The prefeasibility study builds on the results of the Siviour scoping and options studies completed in 2017 (ASX releases 22 May 2017 and 27 October 2017) and considers two development options:

  • Immediate large-scale production – 142,000 tonnes per annum (tpa) of TGC in the first 10 years, decreasing to 117,000 tpa over the remaining 20-year mine life.
  • Low start-up capital, two-staged development approach – 22,800 tpa produced within the first 3 years, increasing to 156,000 tpa for the next 9 years, declining to 129,000 tpa for the remainder of the mine life.

Renascor considers it has potential to become a highly profitable, long-term graphite producer in Australia. A definitive feasibility study is underway and is anticipated for completion in late 2018.

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Senex Energy

Senex Energy commenced a new drilling campaign on the western flank of the Cooper Basin in February (ASX release 7 March 2018). Growler 15 is the first Senex-operated Birkhead horizontal well in the western flank. The well was drilled to increase overall recovery from the Growler Field and accelerate production from the mid-Birkhead reservoir. Growler 15 drilled a 1,037 m lateral section where it encountered 578 m of net oil pay. The well was brought online through the Growler processing facility on 17 March 2018 (ASX release 4 April 2018).

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Tyranna Resources

A five-hole diamond drill program has been completed at the Greenwood – Campfire Bore prospect as part of the Jumbuck joint venture gold project between Tyranna Resources and WPG Resources (ASX release 19 March 2018). The aim of the drilling was to gain geotechnical data on the primary zone (below 100 m relative level) to upgrade the current resource model.

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Woomera Mining

Exploration licences have been granted over Woomera Mining’s Carulinia potential IOCG project in the northeast Gawler Craton and the Labyrinth project in the central Gawler Craton (ASX release 21 March 2018).

A native title mining agreement has been executed between the Tjayiwara Unmuru Aboriginal Corporation and Woomera Mining’s wholly owned subsidiaries Woomera Exploration and Norsa Exploration for the Alcurra–Tieyon project (ASX release 26 March 2018). Located in the Musgrave Province, the project lies entirely within the Tjayiwara Unmuru Native Title Claim determination area.

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