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Copper in California is Crown Mining’s (TSXV:CWM) goal. Three deposits on its Lights Creek project show resources totalling 1.044 billion pounds indicated and 1.043 billion pounds inferred. The resource includes gold and silver, while historic, non-43-101 estimates suggest another billion pounds of copper. With nearly $458,000 raised since April, the company plans to analyse the project’s economics under different production, grade and price scenarios.
In Nunavut, two kimberlite dykes 12 kilometres apart have so far revealed an inferred resource totalling 3.22 million carats at a 1.18-mm cutoff, or 4.02 million carats at a 0.85-mm cutoff. Since then, Dunnedin Ventures TSXV:DVI has found additional commercial-sized diamonds in mini-bulk samples collected from the Kahuna project last year. The company has also kept busy processing till samples to guide further exploration.
Electra Stone’s (TSXV:ELT) ambition is to become a vertically integrated company producing, procuring and selling B.C. nephrite jade for Asia. The company has explored B.C. properties, bought and shipped jade cargoes to China and signed a letter of intent with a Kuala Lumpur company to market jade online. Electra also operates an alumina-silica quarry on Vancouver Island.
Spanish gold and Brazilian lithium comprise the main attractions for Emerita Resources TSXV:EMO. The company has conducted the first modern exploration of its Las Morras project in western Spain, the site of ancient workings, high-grade gold veins and nuggets as big as 271 grams. This week Emerita signed a 100% option on the Falcon Litio MG project, adjacent to Brazil’s only operating lithium mine. The company closed a $954,000 private placement last month.
Having recently acquired a small-scale gold operation in Brazil, Equitas Resources TSXV:EQT hopes to substantially improve recovery while funding expansion through revenue. The company has two rigs busy on the Cajueiro project, which this month received private equity support in a $5-million revolving loan and a $1-million private placement. Equitas also holds a substantial portfolio of Brazilian prospects as well as the Garland nickel project in Labrador. The company raised $1.5 million in April.
Group Ten Metals’ (TSXV:PGE) three Yukon projects comprise the dominant land position in the Kluane Ultramafic Belt which the company considers underexplored for PGMs, nickel and copper. Adjacent to Wellgreen Platinum TSX:WG, Group Ten’s Catalyst project has Phase II exploration planned for this year. The company also pursues nickel-copper-PGEs in the Alaska Panhandle and gold in northwestern Ontario.
The quest for industrial minerals with near-term potential in stable jurisdictions keeps MGX Minerals CSE:XMG busy on a number of fronts. The company has a maiden resource in the works for its flagship Driftwood Creek magnesium project in southeastern B.C. In Alberta, MGX has another maiden resource underway for its lithium prospects spanning some 300,000 hectares.
Nevada Clean Magnesium TSXV:NVM plans to become a major American producer and distributor of the mineral with wide-ranging industrial applications. The company’s flagship Tami-Mosi project in Nevada shows an inferred resource of 111 billion pounds of primary magnesium and reached the PEA stage in 2011. The portfolio also includes molybdenum, gold, copper and PGM projects in B.C., as well as a Nevada silver property.
Encouraging results from a previous operator attracted Nickel One Resources TSXV:NNN to the Tyko project in northwestern Ontario. Assays from 14 recent holes confirmed and in some cases exceeded previous nickel-copper-PGE results. As further exploration continues, the company will determine the potential for Voisey’s Bay-style feeder dyke mineralization.
Located just south of North America’s largest flake graphite mine, the L.A.B. project hosts a past producer where NRG Metals TSXV:NGZ plans to conduct a resource estimate this year. Recent geophysics identified seven areas to follow up, most of them directly continuous with the graphitic horizons being mined at Lac des Iles. In Guyana, NRG’s Groete project has an inferred resource of 1.59 million gold-equivalent ounces.
With one of the world’s two advanced projects poised to bring this metal to greater prominence, Scandium International Mining TSX:SCY reached full feasibility on its 80%-owned Nyngan project in April. Construction of the New South Wales site is slated for next year, with production expected in 2018. The company also holds the Tordal scandium-REE exploration project in southern Norway.
Producing an entirely different commodity, True Leaf Medicine International CSE:MJ creates hemp-based pet chews and supplements. The company has its products selling across Canada, will soon expand its U.S. presence to 6,300 stores and plans a foray into Europe. True Leaf is also working through the regulatory process to produce medical marijuana.
With two newly acquired properties, Umbral Energy CSE:UMB focuses its energies on lithium. Recent exploration on the Tule Valley project in Utah suggests the property might host lithium-bearing groundwater. The Gerlach property in Nevada sits in an underexplored closed basin in an area structurally comparable to the Clayton Valley. Umbral also holds a 50% stake in a company that hopes to produce medical marijuana.
Potash in Thailand is the goal of Vatic Ventures NEX:VCV.H, which this month inked an assignment and purchase agreement for an 80% stake in two contiguous exploration licences. The deal brings Vatic’s board a new director in Gerry Wright, who has extensive experience with the region’s potash resources and potash industry. On completing the transaction and a private placement offered up to $1 million, the company expects to rejoin the TSXV.
Phase I work has just begun on Voltaic Minerals’ (TSXV:VLT) Green Energy lithium project in Utah’s Paradox Basin. The company plans to build a 3D model of its recent acquisition using historic estimates and info, including an oil well database of around 100 drill holes. A further program would involve re-entering old wells and drilling new wells for brine analysis. Last month Voltaic closed a private placement of $765,000.
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