Friday 2nd December 2016

Resource Clips


Posts tagged ‘Cardiff Energy Corp (CRS)’

Cardiff Energy expands its James Bay lithium property

July 11th, 2016

by Greg Klein | July 11, 2016

Cardiff Energy TSXV:CRS reaffirmed its new focus on lithium by nearly doubling its Eastmain River property in Quebec’s James Bay region. The 1,109-hectare acquisition covers a 1.8-kilometre-long outcrop of white pegmatite that has yet to be mapped in detail or explored for lithium, the company announced July 11. It lies “at the periphery of the Kapiwak Pluton and adjacent to the Lower Eastmain Greenstone Belt, a geological setting which is reported to offer great potential for rare metal-bearing pegmatites.”

Cardiff Energy expands its James Bay lithium property

Cardiff stated that ASX-listed Galaxy Resources’ James Bay deposit and the Cyr-2 lithium showing “form an approximately four-kilometre-long corridor of spodumene-bearing pegmatite that is roughly parallel to the trend of the regional bedrock geology. The pegmatite outcrop of the eastern claim block is located approximately 4.5 kilometres southeast of the Cyr-2 lithium showing in a direction that is roughly on strike to the regional bedrock geology.”

The region’s more advanced projects include Critical Elements’ (TSX:CRE) Rose lithium-tantalum deposit and Nemaska Lithium’s (TSXV:NMX) Whabouchi project.

Cardiff’s property lies 2.5 kilometres from a highway, with accommodations and other amenities eight kilometres southwest and an airport 30 kilometres away. The company is currently planning a work program.

Read interviews with Chris Berry and Jon Hykawy discussing energy metals.

Cardiff Energy turns green with Quebec lithium project

June 22nd, 2016

by Greg Klein | June 22, 2016

Believing there’s more lithium to be found in Quebec’s James Bay region, Cardiff Energy TSXV:CRS announced its Eastmain River acquisition on June 22. Vended by Zimtu Capital TSXV:ZC, the 1,160-hectare property sits in the lower Eastmain Greenstone Belt, where “outcrop exposure is extraordinary in the area with pegmatites crosscutting at surface,” the company stated.

Cardiff Energy turns green with Quebec lithium project

“The Eastmain River area consists of a four-kilometre zone of irregular crosscutting dykes of spodumene pegmatites, up to 60 metres wide and over 100 metres long,” Cardiff added. Historic, non-43-101 documentation reports 277 samples averaging 1.7% Li2O. The property has yet to be drilled.

Eight kilometres south of Cardiff’s project, ASX-listed Galaxy Resources’ James Bay project has an indicated resource of 11.75 million tonnes averaging 1.3% and an inferred category of 10.47 million tonnes averaging 1.2% Li2O in a surface deposit with open pit potential.

The Eastmain River project sits 2.5 kilometres from a highway, with a gas station, accommodations and helicopter support eight kilometres southwest, as well as an airport 30 kilometres away.

Cardiff also announced suspension of work on its 70%-held Clayton #1H oil well in Texas pending additional funding or JV interest.

Read interviews with Chris Berry and Jon Hykawy discussing energy metals.

Cardiff Energy finishes acid treatment on Texas oil well

March 30th, 2016

by Greg Klein | March 30, 2016

Cardiff Energy finishes acid treatment on Texas oil well

Cardiff hopes Clayton #1H will transform the company
from a junior explorer to a junior producer.

Cardiff Energy TSXV:CRS moved closer to commercial oil production as the company reported completion of acid treatment on the Clayton #1H well in west-central Texas on March 30. Work began last month after the company secured a $250,000 line of credit. Some 19,000 gallons of acid were used in nine intervals to stimulate areas of the well bore that had the highest hydrocarbon shows during drilling, Cardiff reported. A pump is now being installed to remove the completion fluid before preparations begin for commercial production.

As the first horizontal well drilled into the Gardiner Lime formation, “all indications are that the Clayton #1H will be a strong production well,” the company stated. The flow rate will be reported once output stabilizes.

“We are looking forward to near-term cash flow and drilling of the next set of horizontal wells in the Runnels County area,” added president/CEO Jack Bal.

Cardiff holds a 70% working interest in Clayton #1H, a joint venture in which Equitorial Exploration TSXV:EXX may earn up to 30%. Cardiff also holds a 100% working interest in the adjacent Bearcat #4.

Cardiff Energy prepares to put Texas well into production

February 5th, 2016

by Greg Klein | February 5, 2016

A $250,000 line of credit will allow Cardiff Energy TSXV:CRS to proceed with acid treatment on the Clayton #1H in west-central Texas and put the well into production. “The acid treatment will use in excess of 20,000 gallons of 15% HCl acid and will selectively stimulate the areas of the well bore that had the most significant hydrocarbon shows during drilling,” the company stated on February 5. Work is scheduled to start the week of February 15.

Cardiff Energy prepares to put Texas well into production

With the Clayton #1H well, Cardiff Energy expects to
transform from a junior explorer to a junior producer.

“Our geologist and team have reviewed the proposal and are confident that the plan will be a great success,” stated president/CEO Jack Bal. “Cardiff is now selecting the location of the next two wells and believes, with the knowledge gained by drilling the Clayton #1H, the next wells will be drilled much cheaper and move faster to the production stage.”

In December the company reported initial Clayton #1H flow rate results of 275 barrels of oil per day without any stimulation to the formation.

Cardiff also announced on February 5 a private placement of up to six million units at $0.05, with each unit consisting of one share and one warrant exercisable at $0.075 for two years. Subject to approvals, insiders will take at least two million units. Proceeds will go to Clayton #1H and general working capital.

Located in Runnels county, Clayton #1H is a joint venture in which Cardiff holds a 70% working interest and Equitorial Exploration TSXV:EXX the remainder. Cardiff has a 100% working interest in the adjacent Bearcat #4.

Back on the autobahn

November 2nd, 2015

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

by Greg Klein

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Overseas investors once again get to meet Canadian juniors in person, as prospect generator Zimtu Capital TSXV:ZC and 11 of its holdings visit four European cities from November 5 to 11. Now in the event’s fifth year, company reps will hold conferences in Munich, Geneva, Zurich and Frankfurt to largely institutional audiences, demonstrating the wide-ranging interest in exploration opportunities.

“Essentially it’s a commitment by Zimtu and all the participating companies to keep the European investor informed about what the companies are doing, to meet the management and form a relationship with the guys who are going to be making the decisions, effectively spending their money,” says Zimtu president Dave Hodge.

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

The Zimtu bus arrives as crowds enter
Munich’s Edelmetallmesse in 2014.

“Many of the investors who are still interested in the sector had made great money in the past and experienced tremendous upside in some stocks. Certainly the Canadian junior market is very unique globally and provides that opportunity for the European investor to speculate on discovery.”

Describing himself as a “grizzled veteran of the Zimtu bus,” Chris Berry acts as MC, moderator and keynote speaker. The president of House Mountain Partners and co-editor of the Disruptive Discoveries Journal says, “I like to go back and get a sense of what institutional investors in those cities are thinking about, not just about commodity markets but central bank policies and the macro economy.”

His talk will briefly review the perspectives he offered last year then “challenge the audience” with four questions to consider in 2016. “It’s really more of a discussion than a lecture and I hope there’s a lot of pushback and debate. That gets people thinking and hopefully planning for better times next year.”

While the downturn’s all too obvious, several Zimtu holdings have made impressive strides over the last year. Some of the more remarkable stories include the creation of ALX Uranium TSXV:AL after Lakeland Resources and Alpha Exploration won overwhelming shareholder approval to combine their companies. The result is a distinguished team overseeing one of the Athabasca Basin’s largest and most prospective portfolios.

Competing for flagship status are a number of drill-ready projects including Kelic Lake, where a rig’s currently at work. Gibbon’s Creek has a ground gravity survey underway to follow up on last winter’s 2,550-metre program on a property hosting some of the Basin’s highest radon levels. The company’s Carter Lake and Hook Lake properties feature around 15 kilometres of untested corridors on strike with the Patterson Lake South, Arrow and Spitfire discoveries. Other drill-ready projects include Newnham Lake and Lazy Edward Bay, a 60% stake in the Carpenter Lake joint venture and an 80% share of the Gorilla JV.

Well financed for additional campaigns, the ALX team has been poring over property data to further establish priorities.

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

Commerce Resources addresses last year’s Munich conference.

Focusing on a rare earths project with relatively simple mineralogy, Commerce Resources TSXV:CCE continues to make progress with drilling, metallurgy and community engagement as its Ashram deposit in northern Quebec moves towards pre-feasibility. Last month the company increased rare earth elements recovery from 71% to 76% at a high grade of 42% total rare earth oxides, while also simplifying the plant’s flowsheet. The most impressive concentrates so far have graded 48.9% TREO at 63% recovery and 45.7% TREO at 71% recovery.

Following high-grade, near surface assays from the winter/spring drill program, Commerce has a summer/fall campaign targeting around 32 holes for 3,000 metres. A new infrastructure model indicates cost-cutting potential. The company’s commitment to social responsibility won an award from l’Association de l’exploration minière du Québec.

In British Columbia, Commerce’s Blue River tantalum-niobium project achieved its preliminary economic assessment in 2011.

Recognizing that the great nickel deposits of Sudbury, Norilsk, Thompson and Raglan occur in clusters, Equitas Resources TSXV:EQT acquired the recently assembled Garland project in Labrador, 30 kilometres from Voisey’s Bay. Then, for the first time, Equitas subjected Garland to modern geophysics. Now a drill program under the supervision of Voisey’s veteran Everett Makela has 12 VTEM anomalies targeted.

With over $3.8 million raised since September, the company continues drilling while awaiting initial assays.

Inspired by China’s allure for the beauty and practical qualities of B.C. jade, Electra Stone TSXV:ELT intends to create a vertically integrated nephrite jade mining, trading and marketing platform. The company began by acquiring properties as well as expertise, and has so far confirmed jade at two of six projects before winter conditions ended exploration.

Eager to make contact with potential buyers, Electra bought and shipped an 18-tonne cargo of jade to Shanghai in September and is now preparing a second shipment. The company also produces chalky geyserite, or aluminum silica, from a Vancouver Island quarry. The product’s U.S. customer collaborated with Electra on a drill program last summer to study the project’s expansion potential.

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