My only Gold stock ....will top 20c in 2017 IMHO
NEW MINERALISATION DISCOVERED
SOUTH OF THE TEAL GOLD PROJECT
HIGHLIGHTS
First phase of RC and diamond drilling completed at Teal and Peyes Farm
Significant high grade mineralisation intercepted in all holes drilled at the newly
discovered Jacques Find prospect with uncut results including:
11m @ 7.75g/t Au from 51m
(including 7.8m @ 10.69g/t Au from 53.5m) – PFDD1601
9m @ 6.99g/t Au from 89m – PFRC1632
5m @ 7.44g/t Au from 73m and 6m @ 3.02g/t Au from 114m – PFRC1633
6m @ 7.16g/t Au from 107m
(including 4m @ 10.35g/t Au from 107m) – PFRC1634
The new prospect islocated 500m south along a parallel strike zone from the Teal gold
mine currently in development
PFDD1601 was drilled to confirm the discovery hole which returned a similar downhole
interval of 15m @ 5.00g/t Au from 48m (including 6m @ 10.89g/t Au from 49m) 1
Mineralisation interpreted to dip steeply to the west, is open along strike and
comprises two parallel lodes
Jacques Find now elevated in priority and follow up drilling along strike has
commenced
Commenting on the initial results Intermin’s Managing Director, Mr Jon Price said at Jacques Find
high grades have been defined for 70m down dip and the focus is now on growing that along
strike where there has been shallow or little historic drilling.
“The exploration team have done an exemplary job with target generation and to have all drill
holes hitting high grade mineralisation is a testament to the potential of this area. A special
mention to our Project Geologist Jacques Pieters after whom the prospect is named and we look
forward to the results of the follow up drilling along strike that is now underway.
As part of our planned accelerated drilling program across our 100% owned projects in the
Kalgoorlie region, extensions along strike and at depth at the Teal gold project area will be a key
focus along with other high priority targets on the Zuleika and Bardoc shear zones,” he added.
IRC zero valued added vanadium resource
Not sure how many read the money & market reports a piece below...
billionaire mining guru shared his rare view on vanadium. TheNorthern Miner reported on 7 May:
‘“We think there’s a revolution coming in vanadium redox flow batteries,” [Friedland] says. “You’ll have to get into the mining business and produce ultra-pure vanadium electrolyte for those batteries on a massive scale.
‘We’re very deeply interested in how you store electrical energy in the grid.
‘The beauty of the vanadium redox battery is that you can charge and discharge it at the same time, something that can’t be done with a lithium battery. With a vanadium redox flow battery, you can put solar power and wind power into the battery, and you can put excess grid power into the battery at night, and at the same time you can have a stable output into the grid.”’
As we know AXF Resources are spending $6m by 2021 to earn a 75% interest in our Monster Vanadium-Moly resource that apparently has metallurgical issues, with bulk samples being sent to China for processing testwork..... positive results and IRC will be the most discussed stock on HC as the SP would have muti bagged
http://www.axfresources.com.au/our-business/vanadium/
IRC should trend higher from here(tax loss selling ended,IRCO opts expired) ....got email reply from Company sec ....sounds like 30,000m of Gold exploration drilling to come over the short term ...
On the AXF Group....great guys to be J.V with ....
Melbourne-based AXF Group, controlled by Richard Gu, is switching lanes from property to mining as the young developer races to get ahead of the cycle before the resources sector resurrects from a brutal downturn.
Once a prolific developer, AXF has sold all its property holdings — except one — over the past two years for about $700 million, including some prominent sites such as the Fairfax House at 19-31 Pitt Street in the Sydney CBD, which was offloaded to China’s Dalian Wanda for $73m. Wanda also bought the adjoining Gold Fields House for $425m.
Almost simultaneously, Mr Gu, the scion of a well-established Chinese developer in Shanghai, began his venture into mining and has since spent more than $100m in the hard-hit sector, buying the Gold Ridge gold mine in the Solomon Islands and the Mt Anderson iron ore mine in Western Australia.
“It’s not simply because we are seeing uncertainties in the property market after it has gone up for a period of time,” Mr Gu, AXF’s founder and chairman, told The Weekend Australian.
“With more state-owned and listed Chinese developers entering the Australian market, there’s just too much competition and AXF as a private company is not in the position to compete with these big guys. We need to change our focus.”
Apart from Dalian Wanda, Chinese property giants such as Greenland Group, Poly Real *Estate and Country Garden have expanded in to Australia over the past two or three years, hunting for development sites in a market that is far shallower than their home market.
“It works better for us to cash in now and just wait for a few years, particularly when the market may probably cool down a bit,” Mr Gu said. The company would still assess potential opportunities in the property market.
The company has sold 241 Castlereagh Street in the Sydney CBD to Chinese-backed Visionary Investment Group, the Kinnears Ropeworks site in Melbourne’s Footscray to Guangzhou-based R&F Properties and a Box Hill site in Melbourne to Jeff Xu’s Golden Age.
With funds out of flipped sites, which returned nicely, Mr Gu is starting to make some bargain purchases in the mining sector and has set up a company in Perth focused on mining investments.
“We are looking for bargains when it’s at the bottom of the market. Just as simple as that,” he said.
He bought Gold Ridge, the biggest gold mine in Solomon *Islands, from listed miner St Barbara around Christmas last year. The price was not disclosed, but it was believed to be a “peppercorn amount” in comparison with what St Barbara paid for the mine four years ago.
Operations at Gold Ridge have been suspended since April 2014 as St Barbara was concerned about the risk of its tailings dam being breached. But Mr Gu said AXF had completed the dewatering process, paving the way for recommissioning the mine next July.
“We expect the mine to bring us stable cash flow once it starts production,” Mr Gu said, noting the precious metal had been on the upward trend this year given uncertainties around the world economy.
The company also bought the Mt Anderson iron ore mine in Western Australian from a private company and hopes to start production by the end of next year.
“We are aiming for an annual production of five million to eight million tonnes of high-grade iron ore, which will make us the fifth biggest iron ore miner in Australia,” said Mr Gu.
That might sound a bit ambitious, but he is eyeing more than that. AXF’s mining division has now hired more than 50 employees in Perth and the company itself is moving headquarters to Sydney in November, seeking more opportunities in other areas.
“Who would talk to me when it was during the mining boom? That used to be a game played only by big companies, but now I can easily hire the best people in the industry,” he said. “It’s all about playing ahead of the cycle.”