pd278-Dec19-mag-web_Neat

LAtIN AMERICA















Lake placid amid lithium’s



choppy waters






ith a PFS on the horizon and first trying to demonstrate that by using the Lilac very quickly determine exactly what prod-
Wproduction from an on-site pilot plant direct extraction process we can produce ucts they want and to optimise all of those
also imminent, Lake Resources NL is set to a premium product and we can produce it inputs. There is going to be a range of op-
finish what has been a tough year for the efficiently and in a short timeline,” Promnitz portunities where we can adjust operating
lithium industry on a high note. told Paydirt. costs or capital costs depending on what
Plunging prices and the shuttering of “The only way to do is to have a pilot plant the end-user wants.
some mines in Western Australia due to op- operating on site. We’re aiming to have “The benefit of starting with the Lilac
erational underperformance has been felt product coming out early in the new year process at the front end is we can produce
across the entire lithium sector, prompting and we’re trying to get that into a number of either a lithium carbonate or a lithium hy-
this blunt assessment from Lake managing different hands. droxide product, or both, or an intermediate
director Steve Promnitz: “You can’t sugar- “We have had conversations with down- product which can feed into one of those
coat what is going on out there.” stream players in the lithium supply chain in plants, but it depends very much on who
A depressed lithium market has taken the Korea, Japan and China and it’s important your end-user is as to exactly how you want
gloss off what has otherwise been a break- we get samples out of that pilot plant and that set up.”
through year for Lake, which entered 2019 into their hands so (a) they can test it but (b) In another indication Lake has begun
full of optimism after delivering a maiden more so they can put it through their qualifi- preparing for life after the PFS, the com-
resource of 4.4mt lithium carbonate equiva- cation process,” he said. pany has appointed London-based SD
lent for its Kachi project in Argentina’s Cata- The first module of the pilot plant has Capital Advisory Ltd to secure debt funding
marca province. been constructed at Lilac’s facility in Cali- of up $US25 million for a DFS and further
Lake is expected to publish the results of fornia, US, and is due to arrive on site at pre-production activities.
a PFS on Kachi before the end of the cal- Kachi in early January. Garry Gill has also joined Lake as its new
endar year with sample products from initial Results from earlier lab testing which chief financial officer and will drive the com-
pilot plant production to be sent to custom- showed concentrations of 30,000-60,000 pany’s long-term funding ambitions.
ers for qualification in early 2019. mg/L lithium can be produced from brines While Lake’s primary focus will be on
Designed by Silicon Valley-backed Lilac of roughly 300 mg/L within a few hours after Kachi, the company is also keen to pro-
Solutions Inc and international engineering dewatering – more than 10 times the con- gress its earlier stage projects – Cauchari
firm Hatch Ltd, the pilot plant is set to con- centration of conventional processes – will and Olaroz – in a timely fashion.
firm the effectiveness of the former’s direct be incorporated into the upcoming PFS. Cauchari, in Argentina’s Jujuy province,
extraction ion exchange process on Kachi “We’re fortunate that at least six months adjoins the namesake project being devel-
brines. of that lab test work on the Lilac process will oped by Ganfeng Lithium Co Ltd and Lithi-
“We’ve seen quite a big spread of pric- go into the PFS,” Promnitz said. um Americas Corp.
ing between poor quality products and pre- “Once the PFS comes out we want to “We’ve got exactly the same brines in
mium quality products this year, so we’re be working with a downstream partner to our leases,” Promnitz said. “All things be-
ing equal, if this pilot plant is successful,
we will have the flexibility to move it over to
Cauchari and show that we can produce a
very similar high quality lithium product right
next to a project which Ganfeng paid nearly
$US400 million for 50%. Now that would re-
ally put a cat amongst the pigeons.”
Promnitz said although all permits for
Olaroz had now been received, the compa-
ny was likely to wait for market conditions to
improve before drilling that project, which is
hosted in the same basin as Orocobre Ltd’s
namesake operation.
– Michael Washbourne

Steve Promnitz

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REgIONAL ROuNDuP





Eagle lands in new nest




harlie Bass is confident he is handing “As soon as he had a look at the project, and 17.47 g/t silver. Some $US26 million
Cover the reins of Arizona-focused Eagle he was already pointing out things we could has been spent on the project since 2011,
Mountain Mining Ltd at the “absolutely ideal do. He also understands geologists and be- mostly on technical studies, permitting and
time”. lieves in geologists, so he’s absolutely the exploration drilling.
Tim Mason – currently general manager perfect guy to come onboard now. No formal mining has been carried out
of projects and innovation at Panoramic “I will remain as managing director until on the property since 1996. Current care-
Resources Ltd – will begin as Eagle Moun- such time I’m not really needed to do cer- and-maintenance costs are estimated at
tain’s new chief executive on January 15, tain corporate things, mostly in the US. So, $US400,000 per annum.
with Bass to continue as managing direc- my role going forward – and I guess this Eagle Mountain has been active in Ari-
tor for an “appropriate period” to ensure a has always been my forte – is being able zona at the Silver Mountain copper-gold
smooth leadership transition. to sit back and assess the opportunities for project, about 75km north-west of Phoe-
Mason’s appointment was announced the longer-term structure of the company.” nix, since completing an $8 million IPO in
just two weeks before the company re- Eagle Mountain was expected to close early 2018. While on the lookout for other
vealed it was acquiring 80% of the moth- the acquisition of Oracle Ridge at the time opportunities, Bass was introduced to Ora-
balled Oracle Ridge copper mine, near of print. The transaction is comprised of a cle Ridge and immediately he liked what he
Tucson. $US500,000 upfront payment, a 3% NSR saw.
“Given this type of project, I don’t think we to Osisko Gold Royalty and a $US6.42 mil- “It reminds me of my early days in the
could come have across a better CEO for lion secured loan to be repaid over a 10- original Eagle Mining when we came
what we’re going into than Tim,” Bass told year period, with no repayments required across what was the original Hunter Re-
Paydirt. for the first five years. sources project which the big guys didn’t
“He’s knows underground and he’s an in- Oracle Ridge, about 26km from BHP want,” Bass said.
novator. Most mining engineers I’ve worked Ltd’s San Manuel mine and immediately “This is a similar situation – similar but
with are very dogmatic, but Tim looks be- adjacent to the Lomitas Negra porphyry different – and it just so happened that we
yond. He looks at better and different ways project under option to South32 Ltd, hosts were looking at other projects in Arizona
of doing things and I really, really like that. a resource of 11.7mt @ 1.57% copper and this popped us.














































Eagle Mountain has acquired 80% of the Oracle Ridge copper mine in Arizona, US




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NORth AMERICA







Charlie Bass


“One of my long-time friends – the guy
who actually got me out to Australia 32
years ago – is still a resident of Tucson and
worked on this project in the mid-1990s.
He’s seen a lot of projects around the world
and he said this is an amazing project, but
the guys previously just didn’t take any ad-
vice and totally stuffed it up.
“We’re ready to get into it. I’ve been a
long, long-time believer in the copper story,
I’m not into following flavour-of-the month
lithium or cobalt or whatever else there may
be.”
As soon as Eagle Mountain is handed the
keys to Oracle Ridge, it plans to undertake
an inventory of all site infrastructure, includ-
ing refurbished buildings and underground
rigs. Bass estimates the replacement value
of that equipment will be more than what
the company will ultimately pay for it.
Consolidation of historical drilling data
is already under way, with particular focus
being paid to work completed earlier this
decade.
“Unfortunately with that drilling, not a make is just chasing what you see right in lio, including some obvious synergies with
whole lot of it has multi-ele- front of you. Oracle Ridge.
ment analysis,” Bass said. “From all the years I’ve consulted on all “We are finally having time to consolidate
“They’ve virtually just ana- kinds of different projects, if you find the full everything we know about Silver Mountain
lysed the copper, the gold extent of the orebody, it has a certain way – the drilling, the geophysics, relating the
and the silver. There’s some that it demands to be mined. This project drilling back to the geophysics, the minerali-
rich magnetite in there, but isn’t there yet and that’s why there’s been sation model we thought was a VMS-type
we have no idea where it is a few failures. project,” he said.
or how big it is, but we’re as- “Back in the 30s when it was mined, they “My gut feel says we need to get boots
sembling and trying to put made great money. In the 60s they also back on the ground mapping and sampling,
together a total database made money. But in the 90s, well, they just rather than drilling, to validate the types of
because understanding the didn’t do the right thing.” mineralisation styles we might have in each
geology will be quite impor- Bass – who co-founded Aquila Resourc- area. And that works perfectly with our peo-
tant for this particular style of es – said his Arizona-based team would ple and facilities in Arizona to work back
orebody.” use the next 6-9 months to review all the and forth.”
An aeromag survey, un- work it had completed at Silver Mountain – Michael Washbourne
derground mapping and to date and remained adamant the project
sampling and a review of had a future with Eagle Mountain’s portfo-
the tailings dam optional-
ity are also on Eagle Moun-
tain’s agenda for the next six
months.
While he acknowledged
there was still plenty of work
to be done, Bass is already
convinced the company
make the most of the op-
portunity it has in front of it at
Oracle Ridge.
“We don’t need a whole
lot of tonnes to make some
good grade,” Bass said.
“Process-wise, it’s so easy
to get out. They [previous
owners] never understood
this orebody and the mistake
I see many, many people Some $US26 million has been spent on Oracle Ridge since 2011, but no formal mining has
occurred at the project since 1996

aUSTRaLIa’S PaYDIRT DeCeMBeR 2019 - JaNUaRY 2020 Page 103

REgIONAL ROuNDuP





Sayona sizes up concentrator




ayona Mining Ltd will know by the end takes continue to be made
Sof Q1 2020 whether its bid for the trou- every time the project chang- Revised Authier DFS
bled North American Lithium Inc (NAL) op- es hands.
eration is successful. NAL boasts a high-grade Average production: 114,116 tpa
Despite reaffirming the robust econom- deposit, but an orebody that is Life-of-mine: 13.8 years
ics of its Authier lithium project last month, extremely narrow and mining Development capital: $C120 million
Sayona is pulling out all stops to take con- of the “spaghetti-like” veins Life-of-mine capital: $C211 million
trol of the highly sought-after concentrator has proved too challenging EBITDA: $C461 million
which lies just 50km from where the com- for each of the three previous Life-of-mine cash costs: $C400/t (mine-gate)
pany is planning to develop its own mine in owners of the operation. NPV: $C216 million
Quebec, Canada. Sayona believes it has a IRR: 33.9%
Production at NAL – majority owned by solution. Not only does the
Chinese battery manufacturer CATL – was company possess several Payback: 2.7 years
suspended in February and protection personnel who are experi-
was subsequently obtained from creditors enced in mining coal seams tor literally just down the road,” Lynch said.
in May. In September, the Quebec Supe- down to six inches and have translated “We can invest the sunk capital with a
rior Court removed that protection and in- that skill over to the lithium sector for Altura relatively straightforward plan and then
vited bids for the mothballed lithium mine Mining Ltd, it also has an orebody perfect bring our management expertise to the ta-
and concentrator. for blending. ble to deliver a world-class facility in Que-
It is the third time the operation has been “Frankly, if you just tried to work on the bec, which is a first step in the turnaround
put on ice over a 10-year period and the same thing you’ll fail a fourth time,” Sayona they’re seeking to become a world-class
Quebec Government – which is seeking managing director Brett Lynch said. lithium mining centre.
to develop a complete lithium value chain, “It may be high grade, the NAL deposit, “So, in some ways we’re at a bit of a
from mining to downstream processing, but it’s a far from simple orebody. But if you fork in the road and we’ve now opened up
in the Canadian province – has become were to blend that with ore from Authier, in- another corridor which, if it is successful,
increasingly frustrated that the same mis- stead of a sub-6% lithium end product, we would literally link Authier with NAL and
could actually get plus-6% and increase very quickly we go from being a junior ex-
the throughput, increase the yields, in- plorer to having one of the largest lithium
crease the profitability and increase the operations in the world.”
life of mine because we now have two ore- Sayona recently added Primero Group
bodies feeding one concentrator. Americas and former NAL superintendent
“Over $C300 million has been spent and plant manager Ghislain Dubé to its
developing that facility, but the facility is bidding team, which also includes key per-
actually not the fundamental problem. The sonnel from Altura, BBA, Hatch, Jett Capi-
equipment is world class, but the problem tal Advisors and PwC.
has always been only having the one ore- Bids for the NAL operation are set to
body to source from.” close at the end of January, with a deci-
Melbourne-based Lynch spoke to Pay- sion expected to be handed down by mid-
dirt as he kicked off a two-week investor March.
roadshow following the release of a re- “We wouldn’t be entering this bid if we
vised DFS on Authier, about 45km from were only coming to the table with ‘we
the establishing mining town of Val d’Or. think we’re smarter’ and ‘we’ve got more
The revised DFS is based on a higher mining experience’ because that just won’t
average production rate of 2,600 tpd, up cut it,” Lynch said.
from the previously assessed 1,850 tpd. “It just so happens we are fortunate to
While a higher development capex of have Authier, the only deposit that is liter-
$C120 million (up from $C89.9 million) and ally close enough to NAL to be a viable
extra life-of-mine capital of $C216 million blending option. We have a unique posi-
(up from $C83.6 million) is required, the tion in the bidding process to win it and
project’s NPV has increased from $C184.8 then go on to develop a world-class lithium
million to $C216 million. hub for Quebec.”
Small improvements were also record- Sayona could potentially have a third
ed in the estimated opex and IRR. orebody for the NAL concentrator after
Lynch said while Authier remained a via- setting an exploration target of 5-25mt
ble standalone option for Sayona, the NAL @ 1.2-1.3% lithium for the Viau-Dallaire
facility offered the company a cheaper and prospect, part of its Tansim project, about
faster route to production. 82km south-west of Authier.
Sayona believes its Authier lithium project will “Clearly for Sayona, the advantage
unlock some of the processing challenges which is not having to spend $C120 million on – Michael Washbourne
have constantly curtailed production at the developing a standalone mine at Authier
nearby NAL facility in Quebec, Canada when there is a perfectly good concentra-


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NORth AMERICA







North American gold deals continue




volution Mining Ltd became the latest
EASX-listed gold producer to enter the
North American gold space last month Red Lake is an under-capitalised asset which,
after announcing a $US375 million cash “ through a committed investment in development
deal to acquire the Red Lake complex
from Newmont Goldcorp. and exploration, is intended to become a cornerstone
Evolution also agreed to pay an addi- asset in the Evolution portfolio.
tional $US100 million upon new resource
discovery at the mine.
“Red Lake is an under-capitalised as-
set which, through a committed invest-
ment in development and exploration, is
intended to become a cornerstone asset
in the Evolution portfolio,” Evolution ex-
ecutive chairman Jake Klein said.
Newmont said in a statement the sale
was part of its efforts to streamline its as-
set base.
The deal follows the top global gold
miners Newmont and Barrick Gold Corp’s Kirkland Lake will pay $C3.01 billion in scrip for Detour Gold’s 15 moz of resources
decision to focus on their best performing
mines, which had prompted expectations
of mine sales around the world. to Kirkland’s portfolio, lifting group pro- significantly more deposits here,” he told
These expectations have materialised duction by 600,000 ozpa. Reuters.
in a chain of recent investments by Aus- Kirkland offered 0.4343 share for each Kirkland operates Macassa, also in On-
tralian miners into gold mining including Detour Gold share. The market reacted tario, and Fosterville in Australia.
BHP Ltd’s recent stake acquisition in with scepticism to the offer. While Detour Cost cuts will be achieved within 24
SolGold plc and Saracen Mineral Hold- shares were up 3.4%, Kirkland Lake scrip months, with a focus on supply chain and
ings Ltd acquiring Barrick’s 50% stake in fell 16% on news of the deal. other general and administrative expens-
Kalgoorlie Super Pit in November. Kirkland, which is paying a 23.8% pre- es, Makuch said on a conference call.
Evolution’s move into North America mium to Detour’s previous closing price, Credit Suisse analyst Fahad Tariq said
comes after peers Northern Star Re- expects to generate pre-tax savings of the deal added to Kirkland’s overall cost
sources Ltd and St Barbara Ltd acquired about $US75-100 million per year, the profile and raised concerns about poten-
assets on the continent over the last two companies said in a statement. tially weaker exploration updates coming
years. “It fundamentally changes the busi- at Fosterville.
Evolution has also made a commitment ness,” one Kirkland investor who declined Shareholders will vote on the deal in
to spend $US100 million on existing op- to be identified said. “They have two un- January. On completion, Kirkland Lake
erations and an additional $US50 million derground, high-grade mines and they’ve Gold and Detour Gold shareholders will
in exploration at Red Lake over the first just bought a low-grade open-pit mine own about 73% and 27%, respectively, of
three years after the completion of the which now they’re talking about expand- the merged company.
deal. ing. Detour Gold last year had faced pres-
The acquisition will be funded through “It’s a lot of new, moving parts being in- sure from billionaire hedge fund manager
an $600 million loan facility, the Austral- troduced. To me, it is risky.” John Paulson. Paulson’s Shareholder
ian miner said. Any mine expansions would be self- Gold Council has urged consolidation for
Meanwhile, dual TSX/ASX listed Ca- financed, chief executive Tony Makuch mid-tier miners.
nadian miner Kirkland Lake Gold Ltd said. He defended the transaction pre- For more on Evolution and Kirkland
has announced its intentions to acquire mium and cited potential to boost annual Lake’s acquisitions, look out for exclusive
Detour Gold Corp in a $C4.01 billion all- exploration spending to $US40 million interviews in the January edition of Pay-
scrip offer. per year. dirt’s sister publication GMJ
The deal would add a third major asset “We think there’s opportunity to find

The Aussie invasion of North America

Date Buyer Asset Price
August 2018 Northern Star Resources Pogo $US260m
April 2018 Newcrest Mining Red Chris (70%) $US806.5m
May 2019 St Barbara Moose River $768m
November 2019 Evolution Mining Red Lake $US375m




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REgIONAL ROuNDuP




Myanmar continues rapid




growth trajectory





































major rise in foreign interest and invest- that is not yet in place but it is what they As Myanmar heads towards an election in
A ment in Myanmar’s mining sector is ex- are aiming for,” senior trade commissioner November 2020, infrastructure development
pected in 2020, according to Austrade. for Austrade in Myanmar Jeff Turner told in the country is ramping up
Ongoing changes to the way the My- Paydirt.
anmar Government regulates its mining “Furthermore, just around Yangon itself encouraged to consider opportunities in
industry and increasing stability in the and maybe because there is an election the country.
country since the first open and credible looming, but it is noticeable that the Gov- On arrival, prospective players can ex-
elections were held in over 50 years in ernment is trying to make some improve- pect the 2018 Mines Rules, which includes
2015 have helped the country move for- ments to the infrastructure. It looks to be provisions for certainty of tenure through
ward. improving; there is a lot of road work going the inclusion of an automatic right for inves-
The National League for Democracy on, the city is being cleaned up also in the tors to convert from one licence to next, as-
(NLD) has been in power since 2016 and old downtown area and there is a hell of a suming they have complied with the 2015
with the next round of elections due in lot going on in improving the urban areas. amendments and rules laid out in 2018.
November 2020, signs of progress in the “There are plans for big infrastructure “The process also allows for the inte-
country are now starting to prevail. and I think most of the overseas investment gration of the licences to include a single
Economic reforms have seen foreign is going into transportation and communi- licence covering prospecting, exploration,
banks take up the invitation to operate in cation and you know where that leads to.” feasibility, production, processing and sale
Myanmar, with offshore insurance compa- Turner said there would be a lot of eyes – or a combination of three of those opera-
nies now following suit. on how the next election proceeds but he tions,” Austrade stated in its report.
The retail and wholesale sectors have expected a smooth process. The response to the 2018 Mines Rules
also been opened up to wholly-owned “This is the first election in five years and and the lifting of a moratorium on licences
foreign investment, with Myanmar’s De- we are looking for more stability and further being granted has been overwhelmingly
partment of Investment and Company Ad- growth,” he said. positive with over 2,000 new mineral li-
ministration (DICA) providing easy-to-use Turner was speaking to Paydirt from cence applications submitted since mid-
platforms for companies to navigate. Yangon after the release of the Myanmar 2018.
“The online registration system for local Exploration and Mining: Unchartered Ter- Such interest in the mining sector, which
and foreign companies is working really ritory report prepared and researched by is governed by multiple government enti-
well. FMR Research & Advisory and Austrade, ties, with Ministry of Natural Resources
It is an easy system to use, if you are a with contributions from Valentis Group. & Environment Conservation Complex
foreign company coming in you can regis- Myanmar has long been recognised as (MONREC) the key outfit, comes despite
ter on that. They are also looking to devel- one of the last frontier mining jurisdictions lingering negative perceptions about My-
op a one-stop shop for foreign investors so in Asia and now that political risk is falling, anmar.
you don’t have to go to several ministries, investors and mining companies are being “People still feel that it is closed off and



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ASIA









ing that programme. It is really offtake discussions are also in progress.
remote mining from their office in A PFS on Bawdwin earlier this year indi-
Mandalay, Yangon or Australia,” cated the potential for a 13-year starter pit
Turner said. to come online in 2021 for about $US267
Across many sectors in My- million, with an additional $US33 million
anmar there is a low-level of ex- contingency estimated. Bawdwin would
pertise and skills for companies be the third largest-producing lead mine
to leverage from, including ad- and 10th largest silver mine in the world at
equate mining and engineering starter pit levels.
capabilities. MYL’s confidence in the country is such
Turner said promoting Aus- that it has entered an exclusive option
tralia’s mining repertoire through agreement to acquire up to an 85% equity
education was an area of focus interest in Locrian Precious Metals.
About 30% of Myanmar’s population of 55 million people to boost the use of local content. Locrian holds applications for two highly
is located in the urban and commercial centres of “The basic wage here is one prospective gold/copper Els eastern Shan
Yangon and Mandalay of the lowest, if not the lowest State.
in South East Asia, so labour is The Tarlay and Mongywang applications
available but the skills are not. held by Locrian cover a combined 1,126sq
there are sanctions, but we’d like to make it So, when Australians or other foreigners km in a region hosting several small-scale
pretty clear that there aren’t economic and can’t go into the mine site, they are going to high-grade gold mines.
trade sanctions from Australia on Myanmar. have to employ local,” Turner said. In 2016, a surface channel sampling of
There are sanctions on military equipment “I hear that some of the existing old small-scale mines adjacent to the Tarlay re-
of course and a few of the individual gener- mines and some that I have visited myself, vealed 51.4 g/t gold over 9m (open-ended),
als, but in terms of the trade and investment still have the children and grandchildren of including 1m @ 334 g/t, 7 g/t over 12m.
sanctions it is open,” Turner said. the miners that used to work on those mine The Locrian option adds to MYL’s ambi-
“The Australian Government is encour- sites living there waiting for the mines to re- tions to be a significant miner and explorer
aging greater trade and bilateral investment open and start up again. The need is really in the country and its success could just be
and that is one of the purposes of doing there for that to happen.” the spur for a boom in activity in Myanmar.
this report. I guess people see that there Myanmar Metals Ltd (MYL) is one ASX- Turner said there was a good level of in-
are ethnic armed organisations still fighting. listed company well down the path to be- terest in the Austrade report from Australian
A lot of the country is in red on the DFAT coming a leading base metals producer in businesses, but what will essentially drive
SmartTraveller website, beyond that though the country at the Tier 1 Bawdwin project, people to Myanmar will be live operations.
there are Australians doing work in some of which it is the majority owner at 51% with “We hope to see some of these Austral-
those areas.” local JV partners Win Myint Mo Industries ian operations up and running and paying
While some Australians are restricted by Co. Ltd. (WMM) and EAP Global Co. Ltd. tax to the union government and regional
their organisations from entering certain (EAP). government, so that they can demonstrate
areas of Myanmar, Turner said there were MYL recently updated the indicated and what a sustainable, well-run mining opera-
ways companies were making good of the inferred resource estimate at Bawdwin, tion looks like,” Turner said.
situation. Shan State, to 100.6 mt @ 4% lead, 97 g/t “If we can get one or two, just one up and
“I am hearing that they are working with silver, 1.9% zinc and 0.2% copper. running even, then the international mining
their local staff more, they are training up The resource increase came as MYL community can believe in the country and
their local staff to do the drilling or whatever continues to work on a DFS – due for com- then there will be a lot of activity that fol-
needs to be done and they are accelerat- pletion in 2020 – while project finance and lows. If we can convince the local popula-
tion that it can benefit from mining and that
the regional and union governments can
get taxation flow from it without destroying
the environment and mining can be a good
thing; that is what I would like to be talking
about in 12 months’ time.”
– Mark Andrews





Access the Myanmar Exploration and
Mining: Unchartered Territory report:
www.austrade.gov.au/Australian/Export/
Export-markets/Countries/Myanmar/
Market-profile

Myanmar has been one of the fastest growing South East Asian economies since 2011. In 2018
alone, the economy grew by 6.2% and averaged growth of 6.3% over the last three years. By
2021, the World Bank expects growth in the Myanmar economy to hit 6.7%
aUSTRaLIa’S PaYDIRT DeCeMBeR 2019 - JaNUaRY 2020 Page 107

SIGNED, SEALED AND DELIVERED




Students in remote
control

Current and future workers in the re-
sources industry will be able to gain for-
mal qualifications in remote operations
for the first time following a partnership
between Rio Tinto Ltd, the Western Aus-
tralian Government and South Metro-
politan TAFE.
A Certificate IV in Autonomous Con-
trol and Remote Operations has now
been approved by the Training Accredi-
tation Council (WA), providing students
with the knowledge and skills needed to
work at facilities such as Rio Tinto’s Re-
mote Operations Centre in Perth.
The course is the highest-level ac-
creditation approved to date in a partner-
ship struck between Rio Tinto, the WA
Government and South Metropolitan
TAFE in 2017. It follows accreditation in
early 2019 of a Certificate II in Autono- Saracen is a key and substantial customer for Pacific Energy, representing around
mous Workplace Operations and a mi- 12% of its build-own-operate revenues
cro-credential course for trade-qualified, by 2MW and subsequently by another tility in different mining conditions.
apprentices and technicians. 6MW, to a total of 26MW. Designed and developed by Bis, the
About 30 Rio Tinto employees will take The contract term will also be extend- dual powered 20-wheel dump truck is
part in the initial pilot of the Certificate IV ed from January 2023 to August 2024. working at the Ewington mine operated
course which will be delivered by South The contract for the 17MW gas-fired by Griffin Coal Ltd in WA’s Collie Basin.
Metropolitan TAFE in 2020. The course power station at the Thunderbox mine The standout performance to date of
work combines work-integrated learn- site will be extended from November the first Rexx unit at nickel and gold op-
ing giving participants the opportunity to 2020 to August 2024. erations, as well as supportive feedback
apply the new learning and knowledge Pacific Energy’s total contracted ca- from customers, had encouraged the
to work-related scenarios in the control pacity now stands at 381MW and the company to commit to construct Rexx
centre. Pending successful completion weighted average remaining contract Two.
of the pilot, the first Certificate IV course duration is approximately four years. The second haul truck would be de-
may start in 2021.
Saracen is a key and substantial cus- ployed in early 2020 as part of the Bis
tomer for Pacific Energy, representing fleet, servicing a customer on the east
KPS extends at Carosue/ around 12% of build-own-operate rev- coast of Australia.
enues. “We have been absolutely rapt with
Thunderbox the performance of Rexx. It continues
Pacific Energy Ltd subsidiary – KPS Rexx’s brother brings to tick the boxes that it was specifically
– has signed contract variations for two designed for including range, fuel effi-
power generation contracts with Sara- new commodity ciency, manoeuvrability and conquering
cen Minerals Holding Ltd. The revolutionary mine haul truck gradients. We look forward to our sec-
The 18MW dual fuelled power station Rexx has been working on a new com- ond Rexx truck starting work on the east
at Carosue Dam will be expanded in two modity as it continues to prove its versa- coast in the near future,” Bis chief execu-
stages over the next 12 months, initially tive Brad Rogers said.




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Page 108 DeCeMBeR 2019 - JaNUaRY 2020 aUSTRaLIa’S PaYDIRT

Meanwhile, Bis past and present em- members to the business to deliver the RPM chief executive Richard Mathews
ployees gathered in Whyalla to celebrate expanded scope of works. said: “[We are] proud to announce the
the company’s 60th year of operating in release of RPM’s first design solution
the South Australian town. RPM releases new which is in keeping with the company’s
Since 1959, the company has continu- mission of delivering innovative end-to-
ously provided logistics and materials edition end enterprise solutions for miners.”
handling support for the GFG Alliance
and its predecessor companies at the RPM Global Holdings Ltd has un-
iconic Whyalla steelworks. veiled its Underground Metals Solution Fluid response to brine
The company currently employs 240 (UGMS) Optimiser edition for mine plan- treatment
people in Whyalla and was recently ning customers.
awarded a contract by GFG Alliance, UGMS Optimiser is the first edition Fluence Corp Ltd has entered a contract
making Bis the single materials handling of RPM’s agile design software offering to provide a lithium brine treatment solu-
contractor for the company’s Whyalla which is fully integrated with the compa- tion for a battery-grade lithium carbonate
steelmaking operations. ny’s market-leading enterprise solutions. manufacturer located in Argentina.
The contract kicked off at the start of RPM’s agile design application uses pa- The project will utilise Fluence’s ion ex-
October and sees Bis deliver a range of rameters and automatic design tools to change technology to remove naturally
site services to the Whyalla site includ- build an optimal mine design for users. occurring contaminants from lithium brine,
ing steel services, scrap processing and The time saved by using automatic de- resulting in the highest product quality for
handling, slag processing and handling sign tools facilitates the ability for multi- the customer. The project is expected to
and bulk materials handling. ple alternative designs to be generated be completed before the end of 2020.
The contract brought 80 new team for consideration by a mine design user.
RCT beefs up Chile
The three-month Rexx trial at the Griffin operations will provide the chance presence
to demonstrate the vehicle’s efficiency and capacity in a different mining
environment, carrying a new ore type Leading autonomous solutions pro-
vider RCT has opened an office in San-
tiago, Chile, to provide comprehensive
business and technical support to exist-
ing and potential clients in the regional
mining industry.
Situated in the business district of Las
Condes the office represents the latest de-
velopment in RCT’s longstanding activity
in the country, which span nearly 20 years.
RCT business manager – South
America Rafael Tarud said the company
was now better placed to service mining
companies throughout the Latin Ameri-
can region with its local engineers able
to respond quickly to developing situa-
tions and enquiries.
“RCT has worked in Chile for a long
time, including delivering automation
projects at the El Teniente copper mine
for Codelco and our new office will help
us to provide additional support to exist-
ing and new projects,” Tarud said.




NUCLEUS















+27 (0)10 593 0509 [email protected] www.nucleusml.co.za



aUSTRaLIa’S PaYDIRT DeCeMBeR 2019 - JaNUaRY 2020 Page 109

DRILL BITS www.capdrill.com www.capdrill.com




Bar raising at Mars Alta targets PB in gabbronorite host rock.
Hole RKDD005 at Area D intersected
for PolarX A 30-hole diamond drilling programme two gabbronorite intrusive units, one of
at Alta Zinc Ltd’s Gorno project, Italy, start- which contains significant disseminated
First assays of up to 0.32% copper and ed in late November. and blebby pyrrhotite-chalcopyrite-pent-
0.1 g/t gold have confirmed porphyry-style The Pian Bracca exploration zone (PB landite sulphides. The presence of these
mineralisation at the Mars prospect for Po- zone) is the main area of focus following three-phase sulphides within a prospec-
larX Ltd at the Alaska Range project. recent channel sampling from access tive gabbronorite host rock demonstrates
The 102m-wide intersection contained points within the drilling target zone, which that the processes which form nickel-cop-
higher-grade intervals in the first diamond returned high-grade assays over signifi- per mineralisation associated with mafic
hole, with analysis suggesting the hole is cant thicknesses, including 2.1m @ 16.4% intrusions are present at Area D.
not in the hot core of the system where the zinc, 4.5% lead and 62 g/t silver. “This is a good hole. The first key takea-
highest grades are often located. The maiden drilling campaign at Pian way is that it has intersected a nickel-cop-
“Assays confirming the presence of sig- Bracca is Alta’s first step in delivering on per system in the right host rock for the
nificant copper and gold in porphyry-style its expanded brownfields strategy. mineralisation we are looking for. The sec-
veining from 308m to 410m depth at Mars ond is that the location of the sulphides is
are extremely promising. The alteration interpreted as the basal contact between
minerals indicate that this hole is not the Area D shapes up the gabbronorite and the metasediments,
best part of the system but may be close,” which is textbook for where it should be,”
PolarX managing director Frazer Tabeart Diamond drilling at Legend Mining Ltd’s Legend managing director Mark Wilson
said. Area D has intersected 9.6m of dissemi-
nated and blebby nickel-copper sulphides said.

Porphyry-style mineralisation at Mars has been confirmed Rigs galore at Bellevue
by PolarX Ltd at the Alaska Range project
Continued high-grade gold results from
ongoing diamond core drilling have been
received from infill drilling at Bellevue Gold
Ltd’s Tribune and Viago Lodes.
The first 30,000m of an 80,000m infill
programme has been completed with re-
sults returned of 9.6m @ 14.1 g/t gold from
107.9m, 3.m @ 33 g/t from 162m, 1.9m @
29.3 g/t from 58m, 5.2m @ 5.4 g/t from
203m, 0.6m @ 273.5 g/t from 155m some
of the highlights from Tribune.
Infill drilling at the Viago Lode has re-
turned 0.7m @ 74.8 g/t gold from 590.4m,
5m @ 11.1 g/t from 606m, 3m @ 19.8 g/t
from 580.5m.
Meanwhile, additional rigs have been al-
located to the high-grade Deacon and Ma-
vis discoveries with six rigs targeting step-
out expansion drilling as well as targeting a
number of significant high-priority off-hole
DHEM conductors. Results were pending
for a further 15,000m of completed dia-
mond core infill and step-out drilling ready
for resource updates in 2020.








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Page 110 DeCeMBeR 2019 - JaNUaRY 2020 aUSTRaLIa’S PaYDIRT

www.capdrill.com www.capdrill.com

















Bellevue will look to announce resource updates from its namesake project in Western Australia in early 2020
Matador breakthrough and 0.78%), 3m @ 2.54 g/t from 24-27m, QBDD001 is at 117m below surface.
2m @ 2.88 g/t from 33-35m and 4m @ Confirmation of copper-silver miner-
at Window Glass 1.12 g/t from 69-73m to end-of-hole, 1m @ alisation from recent diamond drilling and
13.43 g/t and 0.51% from 108-109m and extensive anomalous copper-silver values
Matador Mining Ltd believes Window 5m @ 2.21 g/t and 0.16% from 92-97m (in- identified around the targeted Qembo
Glass Hill at the Cape Ray gold project, cluding 1m @ 6.11 g/t and 0.28%). Dome geological contact position, includ-
Newfoundland, Canada, has the potential ed 2.07m @ 0.5% copper and 65.96 g/t
to become a large tonnage, low strip ratio silver from 129.67-131.74m downhole of
deposit. copper-silver mineralisation.
Recent drilling at Window Glass Hill has
intersected gold mineralisation less than
100m from surface and up to 240m from From Middle Island to
the resource boundary. It has also been
found mineralisation is continuing in an Top End
up-dip trajectory from the current resource Middle Island Resources Ltd has ap-
to surface. Recent results include 29m @ plied for 10 ELs, within the East Tennant
1.9 g/t gold (including 3m @ 9.7g/t and 9m region of the Northern Territory.
@ 3 g/t) from 64m, 21m @ 1.3 g/t (includ- The applications semi-continuously ex-
ing 2m @ 11.4 g/t) from 38m, 23m @ 1.1 tend for over 350km along the axis of the
g/t (including 9.7m @ 2.2 g/t) from 58m, East Tennant Ridge from Tennant Creek,
13m @ 1 g/t (including 3.2m @ 3.4 g/t) east across the Barkly Tableland, towards
from 89m and 9.2m 1.1 g/t from 70m. the Queensland border. Six applications
had been accepted at the time of print. An
Bryah on fire additional four applications were lodged by
Middle Island as part of a competitive pro-
Bryah Resources Ltd has hit 30 g/t gold cess following the lifting of a moratorium
at the Tumblegum South gold-copper Bryah has hit 30 g/t gold at Tumblegum South over the East Tennant (Barkly) area.
prospect, within its Gabanintha project in They are currently the subject of partially
central Western Australia. or wholly competing applications made by
Tumblegum South is about 40km south several companies, including Newcrest
of Meekatharra, near multiple existing gold Copper-silver lining for Mining Ltd, the outcome of which will be
plants in the region. Kopore judged on the technical merit of proposed
Sixteen holes have been completed at exploration programmes in each case.
Tumblegum South, with highlights includ- Kopore Metals Ltd has reported first The company anticipates that exploration
ing 4m @ 7.83 g/t gold and 0.23% copper copper mineralisation assay results from on the Barkly super-project will start during
from 119-123m (including 1m @ 30.24 g/t the Qembo Dome prospect, on the Kala- the 2020 dry season, once all regulatory
and 0.39%), 5m @ 3.81 g/t and 0.28% hari Copper Belt in Namibia. approvals have been addressed.
from 99-104m (including 1m @ 12.54 g/t The intercept, in diamond drill hole






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operating across Africa can help your project.



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aUSTRaLIa’S PaYDIRT DeCeMBeR 2019 - JaNUaRY 2020 Page 111

COMINgS AND gOINgS




janth (AJ) Saverimutto has ongyan Xue has resigned president of the BHP Billiton until a permanent replacement
Astepped down as managing Cas non-executive director Mitsubishi Alliance JV. is appointed. In other manage-
director of Venturex Resources of Northern Minerals Ltd. Xue, ment changes, Neil Hepworth
Ltd, but will continue to provide who cited personal reasons for oseidon Nickel Ltd has ap- has been appointed chief op-
strategic advice and input to the his immediate departure, only Ppointed Andrea Betti as joint erating officer, Alan Hitchborn
company on a consulting ba- joined the company’s board in company secretary, replacing has joined the company as vice
sis. Executive director Anthony April. Eryn Kestel, with Brendan Shal- president of exploration and
Reilly has assumed the role of ders continuing as joint compa- Lucie Gagnon is the new vice-
acting chief executive. aruga Minerals Ltd found- ny secretary and chief financial president of people and culture.
Ter Bernard Aylward has officer.
ames Allchurch has resigned stepped down from the com- revor Elton has notified Pan-
Jas a non-executive director of pany’s board, along with fellow aifeng Zhu has resigned as Toramic Resources Ltd of his
PepinNini Lithium Ltd after less director Sheena Eckhof. Their Ha non-executive director of decision to retire as chief finan-
than six months on the board. departures coincide with the Lincoln Minerals Ltd due to per- cial officer on January 28, bring-
appointment of Stefan White as sonal reasons. ing an end to 17 years with the
andra Bates and John Rich- a non-executive director. company. It follows the recent
Sards have been added to ichard Lloyd has joined the appointment of Victor Rajasoo-
the board of Adriatic Metals plc. raig Hasson has replaced Rboard of Winmar Resourc- riar as managing director to
Bates is a commercial lawyer CKym Verheyen as company es Ltd. Based in London, Lloyd replace long-serving predeces-
who is currently a partner at secretary of Liontown Resourc- is an investment banker and sor Peter Harold. Following the
London-based firm Fladgate es Ltd. mine geologist who is currently company’s AGM in November,
LLP. Richards, who is also a chief executive of MINEXIA Ltd Peter Sullivan succeeded Brian
non-executive director of Shef- NG Ltd has appointed for- and sits on the board of AIM- Phillips as chairman of Pano-
field Resources Ltd and Sara- Tmer Cristal senior executive listed Goldstone Resources ramic, with Nick Cernotta taking
cen Mineral Holdings Ltd, is Simon Morten to the newly cre- Ltd. Winmar has also appointed over as lead independent non-
a board nominee of Adriatic’s ated role of general manager, Mike Pitcher as company sec- executive director. Rajasooriar
major shareholder Sandfire Re- titanium production. Morten retary and chief financial of- has also been appointed the
sources NL. has more than 40 years of ex- ficer following the resignation company’s representative on
perience in the chemical, min- of Michael Fry due to increased the board of 51%-owned Hori-
onaco-based Hans-Jorg ing and processing industries, other business commitments. zon Gold Ltd.
MSchmidt has joined PNX including 30 years dedicated to
Metals Ltd as a non-executive titanium pigments. Morten has arry Gill has joined Lake liff Lawrenson has been
director. been appointed initially on a GResources NL as chief Cappointed non-executive
part-time basis. financial officer and joint com- chairman of Paladin Energy Ltd,
attery Minerals Ltd manag- pany secretary. A chartered replacing long-serving incum-
Bing director Jeremy Sinclair ark Stowell is the new accountant with more than 30 bent Rick Crabb. Lawrenson
has transitioned to a non-execu- Mchairman of Southern years of experience, Gill previ- was most recently managing
tive director role as the company Hemisphere Mining Ltd. Stowell ously served as finance director director of Atlas Iron prior to its
looks to preserve cash amid soft was one of the founders of An- at Jupiters Ltd and chief finan- takeover by Hancock Prospect-
demand for graphite. As part of vil Mining and a former director cial officer and corporate ser- ing Pty Ltd. He is currently also
the management restructure, of Incremental Petroleum. He vices manager of South Bank chairman of Pacific Energy Ltd
general manager projects Gra- succeeds David Lenigas who Corporation in Brisbane. and sits on the board of Primero
ham Fyfe has been promoted to will continue as a non-executive Group Ltd. Crabb departs Pala-
chief development officer and le- director. din after a 25-year association
gal counsel and country general with the company, including the
manager Naomi Scott is now hris Burton has been ap- last 16 years as chairman.
general counsel and country di- Cpointed a non-executive
rector, Mozambique. Both will re- director of Newfield Resources tlas Iron founder David
port to non-executive chairman Ltd. A chartered accountant and AFlanagan has joined NSW
David Flanagan. registered company auditor with gold-copper explorer Magmatic
more than 22 years of finance Resources Ltd as an independ-
sector experience, Burton is a ent non-executive director.
former partner of accounting Garry Gill
firm BDO where he spent eight
years in audit and assurance dward Mason has been
services. Burton replaces Rob- Eelevated to the chairman’s
ert Ang who resigned to pursue role at Auroch Minerals Ltd fol-
other business interests. lowing the resignation of Glenn
Whiddon.
etro Mining Ltd has added
Mrespected mining execu- ames Bannantine has de- David Flanagan
Jeremy Sinclair
tive Lucas Dow to its board of Jparted as president and chief lkane Resources Ltd man-
oh Kiat has resigned as directors. A mining engineer, executive of TSX-listed Great Aaging director Nic Earner
Pdirector of Centrex Metals Dow spent 12 years with BHP Panther Mining Ltd, with chair- has joined the board of Genesis
Ltd to focus on other business Ltd, including almost two years man Jeffrey Mason assuming Minerals Ltd as a non- execu-
interests. as chief executive and asset both roles in an interim capacity tive director.


Page 112 DeCeMBeR 2019 - JaNUaRY 2020 aUSTRaLIa’S PaYDIRT

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LEftfIELD





Emmerson to the rescue Your source for advanced

mining survey technology

unior explorer Emmerson Resources Ltd much needed water and opened up the pos- www.axisminetech.com
Jwill go up against for the likes of Fortescue sibility of irrigation for cropping purposes.
Metals Group Ltd, Sandfire Resources NL Emmerson managing director Rob Bills Farmer John Whatling at Emmerson’s
and Westgold Resources Ltd for the 2019 As- said the company was focused on building Whatling Hill project in NSW
sociation of Mining and Exploration Compa- mutually beneficial relationships with local
nies (AMEC) Community Contribution Award. farmers and communities prior to and during award alongside the likes of Fortescue,
Emmerson was nominated for the award exploration activities. Sandfire and Westgold [in a JV with Austral-
for its efforts to assist drought-stricken farm- “Forging strong, direct relationships at a ian Vanadium Ltd] just goes to show that even
ers John and Carol Whatling with securing local level in and around our exploration pro- smaller companies can have a big impact in
additional water supply for their Whatling Hill jects is critical, particularly with local landhold- their communities.”
farm in New South Wales where the compa- ers,” Bills said. The winner of the AMEC Community Con-
ny is exploring for gold-copper on the Lachlan “When this means we’re able to assist tribution Award will be announced at the 2019
Fold Belt. great local people like John and Carol Wha- AMEC Awards Dinner in Perth on December 5.
As part of a recent drilling campaign, Emm- tling to get their property through a period of This year also sees the return of the pres-
erson funded a successful waterbore on the drought, there’s a great sense of satisfaction tigious AMEC Prospector Award, with Lion-
Whatling’s property. This bore is now pump- from both sides. town Resources Ltd and Peel Mining Ltd an-
ing 1000L every 20 minutes and has provided “To have Emmerson nominated for this nounced as the two finalists.


INDEx Survey and recover

Adriatic 31, 112 Ganfeng 100, 101 Magmatic 112 Pure Gold 31 core at the same time
Alkane 112 Genesis 112 Mako 84
Alta 110 Gold Fields 4, 20-21, 22, 24, 27, Mali Lithium 78 Rafaella 98
Altura 104 34-39 Matador 111 Renascor 16 with a Champ Gyro run
Anglo American 46, 48 Gold Road 20, 36, 39 MC Mining 48 Resolute 4, 26, 27, 30-33, 96
AngloGold 23, 96 Golden Rim 82 Metro 112 Reward 13 in a Champ OSA...
Antipa 12 Goldstone 112 Metal Tiger 64 Rio Tinto 12-13, 42, 90, 108
Apollo Consolidated 86 Graphex 28, 72 Middle Island 111
Asanko 39 Great Dyke 48 Mimosa 48 Sandfire 33, 64, 112
Auroch 112 Great Panther 112 Mineral Commodities 80 Saracen 6, 8, 105, 108, 112
Greatland 112 Mineral Resources 18 Savannah 90
Barrick 4, 6, 8, 23, 28, 38-39, 74, 87, Griffin Coal 112 Mincor 14 Sayona 104
105 MRG 90-91 Semafo 26, 27, 58, 60
Base 23, 27, 42-43 Hancock 112 Myanmar Metals 107 Sheffield 112
Battery Minerals 76, 112 Highfield 99 Sipa 12
Bellevue 110 Horizon Gold 112 NAL 104 Sirius Minerals 52
BHP 64, 92, 102, 112, 105 Neo Lithium 100 SolGold 105
Bryah 111 Iluka 94 Newcrest 12, 105, 111 South32 23, 92, 102
Impala 48 Newfield 112 Southern Hemisphere 112
Carawine 12-13 Independence 12, 14 Newmont 6, 8, 38-39, 105 Sovereign 94
Cardinal 39 Invictus Energy 88-89 Norilsk 42 St Barbara 105
Centrex 112 Northam 48 Stavely 13
Codelco 109 Kalahari 64 Northern Minerals 112 Syrah 16, 72, 76
Convertible 32-33 Kefi 93 Northern Star 6, 105
Cupric 64 Kibaran 28, 73 Tanga 68 The Original Overshot Gyro from Axis
Kirkland Lake 105 OreCorp 74 Taruga 112
Danakali 30-31, 52 Kopore 111 Orion 46 TNG 112
Detour 105 Kore 52 Ormonde 98 Triton 76 Field proven performance - day in day out
Orocobre 100, 101
Eagle Mountain 102-103 Lake 100, 101, 112 Venturex 112
Encounter 12 Lefroy 39 Paladin 112 Virgo 64
Endeavour 27 Legend 110 Panoramic 14, 102, 112
Evolution 105 Lincoln 112 Peak 28, 74 Walkabout 70-71
Exore 86-87 Lithium Americas 100 PepinNini 112 West African 4, 26, 58, 60-61, 82, 84
Liontown 112 Perseus 87 Western Areas 14
Fenix 10 Lithium Americas 101 PNX 112 Winmar 112 DS supports rentals and provides services
Fortescue 12-13, 56 Livent 100 PolarX 110 www.digitalsurveying.co.za using Axis’s leading technology anywhere,
Locrian 107 Poseidon 112 Zimplats 48 anytime throughout Africa.
Galan 100 Lynas 74 Predictive 96
Galaxy 100 Prospect 89 Authorised African Distributor



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aUSTRaLIa’S PaYDIRT DeCeMBeR 2019 Page 115

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