Tuesday 6th December 2016

Resource Clips


Posts tagged ‘magnesium’

Equitorial Exploration releases NWT lithium channel sampling results

September 6th, 2016

by Greg Klein | September 6, 2016

Having acquired the Li lithium project in July, Equitorial Exploration TSXV:EXX announced results from the 2016 field program on September 6. Located just east of the Yukon border and 30 kilometres from the Northwest Territories’ former Cantung tungsten mine, the property hosts the Little Nahanni pegmatite group.

“Lithium-cesium-tantalum pegmatite dyke swarms on the Li property have been traced over a combined length of 13 kilometres in mountainous terrain that is deeply incised by several east- or west-facing cirques,” the company stated. The following highlights came from 81 channel samples up to 52.6 metres wide from dyke swarms called Prison Wall, Berlin Wall and Great Wall of China:

Equitorial Exploration releases NWT lithium channel sampling results

Prison Wall

  • 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 over 1.7 metres

  • 2.33% Li2O, 59 g/t Ta2O5 and 0.05% SnO2 over 1.2 metres

Berlin Wall

  • 2.04% Li2O, 57.8 g/t Ta2O5 and 0.5% SnO2 over 4 metres

  • 3.1% Li2O, 53.6 g/t Ta2O5 and 0.03% SnO2 over 0.95 metres

Great Wall of China

  • 1.67% Li2O, 41.4 g/t Ta2O5 and 0.03% SnO2 over 3.75 metres

  • 1.83% Li2O, 67.3 g/t Ta2O5 and 0.05% SnO2 over 1.25 metres

  • 1.63% Li2O, 52.9 g/t Ta2O5 and 0.01% SnO2 over 5.15 metres

The dykes are “well exposed on cirque walls, but most of these areas are too steep to sample,” Equitorial added. “Fortunately, relatively continuous bedrock exposures are accessible at the base of cliffs on the north and south side of cirques.”

Dating back to 2002, the property’s best interval assayed 1.59% Li2O over 10 metres, but the 2016 program failed to relocate the dyke. Two drill holes from 2007 found 1.2% Li2O over 10.94 metres and 0.92% over 18.27 metres. Rock samples have graded as high as 3.77%, 3.55%, 2.05%, 1.79%, 1.77% and 1.74% Li2O.

The Li property acquisition costs Equitorial 7.5 million shares, 2.5 million warrants, $100,000 towards the 2016 program and a 2% NSR.

In May Equitorial acquired the right to enter a JV with Mag One Products CSE:MDD to fund the construction of Mag One’s extraction facility for lithium and related products. Equitorial also holds the right to JV with Mag One on construction of production facilities for magnesium metal and products.

Exploring opportunity

June 17th, 2016

A capacity crowd attends the first annual Vancouver Commodity Forum

by Greg Klein
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A capacity crowd attends the first annual Vancouver Commodity Forum

 

“There’s excitement in the air,” said Cambridge House International founder Joe Martin. That’s the mood he senses as junior explorers emerge from the downturn. And certainly optimism was evident on June 14 as more than 450 people converged on the Vancouver Commodity Forum for an afternoon of expert talks amid a showcase of two dozen companies. Keynote speakers included Martin, Chris Berry of the Disruptive Discoveries Journal, Jon Hykawy of Stormcrow Capital, John Kaiser of Kaiser Research Online and Stephan Bogner of Rockstone Research.

A capacity crowd attends the first annual Vancouver Commodity Forum

Lithium, not surprisingly, stood out as a commodity of interest. While cautioning against over-enthusiasm for the exploration rush, Berry and Hykawy each affirmed the need for juniors to find new sources of the metal. Cobalt and scandium featured prominently too, as did other commodities including what Kaiser called “the weird metals”—lesser known stuff that’s vital to our lives but threatened with security of supply.

Kaiser also noted he was addressing a crowd larger than his last PDAC audience, another indication that “we’ve turned the corner.”

Attendees also met and mingled with company reps. Potential investors learned about a wide gamut of projects aspiring to meet a growing demand for necessities, conveniences and luxuries.

Presented by Zimtu Capital TSXV:ZC, the forum’s success will make it an annual event, said company president Dave Hodge. Berry emceed the conference, holding the unenviable task of “making sure Dave stays well-behaved.”

Read interviews with keynote speakers:

Meet the companies

Most companies were core holdings of Zimtu, a prospect generator that connects explorers with properties and also shares management, technical and financing expertise. Zimtu offers investors participation in a range of commodities and companies, including some at the pre-IPO stage.

After sampling high-grade lithium on its Hidden Lake project in the Northwest Territories earlier this month, 92 Resources TSXV:NTY plans to return in mid-July for a program of mapping, exposing spodumene-bearing pegmatite dykes, and channel sampling. The company closed the final tranche of a private placement totalling $318,836 in April. Hidden Lake’s located near Highway 4, about 40 kilometres from Yellowknife and within the Yellowknife Pegmatite Belt.

With one of the Athabasca Basin’s largest and most prospective exploration portfolios, ALX Uranium TSXV:AL has a number of projects competing for flagship status. Among them is Hook-Carter, which covers extensions of three known conductive trends, one of them hosting the sensational discoveries of Fission Uranium TSX:FCU and NexGen Energy TSXV:NXE. ALX’s strategic partnership with Holystone Energy allows that company to invest up to $750,000 in ALX and retain the right to maintain its ownership level for three years. ALX closed a private placement first tranche of $255,000 last month, amid this year’s busy news flow from a number of the company’s active projects.

A capacity crowd attends the first annual Vancouver Commodity Forum

Arctic Star Exploration TSXV:ADD boasts one of northern Canada’s largest 100%-held diamond exploration portfolios. Among the properties are the drill-ready Stein project in Nunavut and others in the Lac de Gras region that’s the world’s third-largest diamond producer by value. North Arrow Minerals TSXV:NAR holds an option to earn up to 55% of Arctic Star’s Redemption property.

Aurvista Gold TSXV:AVA considers its Douay property one of Quebec’s largest and last undeveloped gold projects. The Abitibi property has resources totalling 238,400 ounces of gold indicated and 2.75 million ounces inferred. Now, with $1.1 million raised last month, the company hopes to increase those numbers through a summer program including 4,000 metres of drilling. Douay’s 2014 PEA used a 5% discount rate to forecast a post-tax NPV of $16.6 million and a post-tax IRR of 40%.

Looking for lithium in Nevada, Belmont Resources TSXV:BEA now has a geophysics crew en route to its Kibby Basin property, which the company believes could potentially host lithium-bearing brines in a similar geological setting to the Clayton Valley, about 65 kilometres south. Results from the gravity survey will help identify targets for direct push drilling and sampling.

A mineral perhaps overlooked in the effort to supply green technologies, zeolite has several environmental applications. Canadian Zeolite TSXV:CNZ holds two projects in southern British Columbia, Sun Group and Bromley Creek, the latter an active quarrying operation.

With a high-grade, near-surface rare earths deposit hosted in minerals that have proven processing, Commerce Resources TSXV:CCE takes its Ashram project in Quebec towards pre-feasibility. The relatively straightforward mineralogy contributes to steady progress in metallurgical studies. Commerce also holds southeastern B.C.’s Blue River tantalum-niobium deposit, which reached PEA in 2011 and a resource update in 2013.

Permitted for construction following a 2014 PEA, Copper North Mining’s (TSXV:COL) Carmacks copper-gold-silver project now undergoes revised PEA studies. The agenda calls for improved economics by creating a new leach and development plan for the south-central Yukon property. In central B.C. the company holds the Thor exploration property, 20 kilometres south of the historic Kemess mine.

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Vancouver Commodity Forum adds speakers: Gerald McCarvill, Jon Hykawy and Joe Martin

May 30th, 2016

by Greg Klein | May 30, 2016

Three more names bring additional expertise and insight to the June 14 Vancouver Commodity Forum. Prince Arthur Capital chairperson/CEO Gerald McCarvill, Stormcrow Capital president/director Jon Hykawy and Cambridge House International founder Joe Martin will address the conference at the Hyatt Regency Hotel. Already booked are Chris Berry of the Disruptive Discoveries Journal, John Kaiser of Kaiser Research Online and Stephan Bogner of Rockstone Research.

Vancouver Commodity Forum adds speakers Gerald McCarvill, Jon Hykawy and Joe Martin

The speaker lineup grows as the June 14 Vancouver event approaches.

McCarvill’s 30-year CV includes conducting mining and energy projects globally, as well as private equity and finance transactions. Among other career highlights, he helped establish Repadre Capital, now IAMGOLD TSX:IMG, and Desert Sun Mining, later acquired by Yamana Gold TSX:YRI. McCarvill also helped develop and finance Consolidated Thompson Iron Ore from a $2-million entry valuation to its $4.9-billion sale to Cliffs Natural Resources NYSE:CLF.

An expert in areas such as lithium, rare earths, fluorspar and tin, Hykawy combines a 14-year Bay Street background with an MBA in marketing, along with post-doctoral work as a physicist with Chalk River Nuclear Laboratories and the Sudbury Neutrino Observatory. His technical background also includes work on rechargeable batteries and fuel cells, as well as wind and solar energy.

Starting off in business journalism, Martin created BC Business magazine, then founded Cambridge House International to present some of the world’s largest mining/exploration conferences. He remains active in semi-retirement as a prominent advocate for investment regulatory reform.

The Vancouver Commodity Forum also features a range of companies pursuing lithium, uranium, rare earths, gold, nickel, copper, diamonds, jade, scandium, zeolite, magnesium and potash. Click here for free registration.

Interview: Chris Berry discusses the lithium boom.

June 14 Vancouver Commodity Forum showcases explorers and expert speakers

May 11th, 2016
June 14 Vancouver Commodity Forum showcases explorers and expert speakers

Mineral explorers and expert analysts will meet and mingle
with attendees at the June 14 Vancouver Commodity Forum.

If you have your ear to the ground and eyes on the street you might notice a more positive mood in the market lately, suggesting a retreating bear or even an approaching bull. Whether that comes to pass remains to be seen. But one opportunity to better assess the situation happens on June 14 at the Vancouver Commodity Forum.

Presented by Zimtu Capital TSXV:ZC, the one-day event features expert speakers as well as a range of companies pursuing lithium, uranium, rare earths, gold, nickel, copper, diamonds, jade, scandium, zeolite, magnesium and potash, among other commodities.

Insight and analysis will come from keynote speakers including Chris Berry of the Disruptive Discoveries Journal, John Kaiser of Kaiser Research Online, Stephan Bogner of Rockstone Research and others to be announced.

The Vancouver Commodity Forum takes place June 14 at the downtown Hyatt Regency Hotel. Watch for further details about presenters, registration and additional speakers.

Chris Berry takes a closer look at magnesium

August 10th, 2015

by Greg Klein | August 10, 2015

Magnesium, one of the overlooked industrial minerals that play a crucial role in our society, comes under scrutiny by Chris Berry in a new 10-page report. The metal’s uses range from alloys, fertilizer, refractories and flame retardants to water purification. A typical car, for example, contains roughly 10 to 12 pounds of magnesium. According to a report jointly issued by GM, Ford and Chrysler, estimates suggest that “by 2020, 250 pounds of magnesium will replace 500 pounds of steel, and 90 pounds of magnesium will replace 130 pounds of aluminum per vehicle, resulting in an overall 15% weight reduction.”

China produces about 70% to 80% of global supply, thanks to lax environmental standards, plentiful labour and cheap coal. But “while overall supply may not be an issue, security of supply is likely a better lens with which to view the magnesium market,” Berry writes.

Presenting a clear, balanced overview, Berry’s report sheds light on a little-known but essential commodity.

Download the 10-page report.

MGX Minerals closes first tranche, issues clarification

July 22nd, 2015

by Greg Klein | July 22, 2015

Update: On July 22, following a review by the British Columbia Securities Commission, MGX issued a clarification that among other things retracted all previous references to historic mineral resources.

 

The first tranche of a private placement brought MGX Minerals CSE:XMG $289,999, the company announced July 21. Participants included Marquest FT Inc and the Marquest Asset Management Explorer Series Fund. The flow-through portion of $149,999 goes to the company’s flagship Driftwood Creek magnesium project in southern British Columbia.

While Driftwood works its way through the final stage of a mining lease application process, property acquisitions and project announcements have given the company a steady news flow over the last few months. In early July MGX completed surface sampling at White Moon and Captain, two recently acquired California magnesium properties about five kilometres apart.

Besides holding most of B.C.’s significant magnesite occurrences, MGX acquired the Longworth silica property in central B.C. earlier this month.

Read more about MGX Minerals.

MGX Minerals to acquire 100% of B.C. silica property and begin Phase I on California magnesium project

July 6th, 2015

by Greg Klein | July 6, 2015

Two July 6 announcements show MGX Minerals CSE:XMG advancing its industrial minerals portfolio. The company now plans to increase its stake to 100% of the Longworth silica property in British Columbia and begin exploration on its White Moon magnesium project in California.

MGX Minerals to acquire 100% of B.C. silica property and begin Phase I on California magnesium project

White Moon’s magnesite beds occur discontinuously
across approximately 800 metres in strike, MGX states.

MGX picked up White Moon, originally called Needles, just last month. Beginning July 13, MGX plans geochemical sampling of 40 historic trenches, mapping and outcrop sampling. Hoping to build and operate the United States’ only magnesium oxide wallboard production plant, the company plans a scoping study to assess infrastructure and potential plant locations.

MGX has engaged Jack Bal as a consultant to help advance its magnesium assets. Having raised over $50 million for junior resource companies, Bal was recently involved in mill permitting for CMC Metals’ (TSXV:CMB) Radcliffe gold project in California.

A purchase agreement with Zimtu Capital TSXV:ZC would increase MGX’s interest in the Longworth silica property to 100%. Replacing a 50% earn-in, the new deal would cost MGX 700,000 shares at a deemed price of $0.30. The road-accessible central B.C. property was considered one of the province’s top silica occurrences by the B.C. Geological Survey. MGX hopes to produce ferro-silicon, an essential alloy in iron and steel production.

The company also holds most of B.C.’s significant magnesite occurrences.

Late last month the company updated its Driftwood Creek magnesium project in southern B.C. and doubled a previous private placement offer up to two million shares at $0.30.

Read more about MGX Minerals.

Disclaimer: Zimtu Capital Corp is a client of OnPage Media Corp, the publisher of ResourceClips.com. The principals of OnPage Media may hold shares in Zimtu Capital.

MGX updates Driftwood Creek, increases private placement, joins CSE Composite

June 25th, 2015

by Greg Klein | June 25, 2015

Initial results show progress in a plan to use alternative energy at the proposed Driftwood Creek magnesium project in southern British Columbia, MGX Minerals CSE:XMG reported June 25. The company also announced its addition to the Canadian Securities Exchange Composite Index and an increase in its private placement offer.

MGX updates Driftwood Creek, increases private placement, joins CSE Composite

Besides southeastern B.C.’s Driftwood Creek project, MGX Minerals holds most of the province’s
significant magnesite occurrences.

An initial desktop analysis indicated that biomass conversion could supply 93.3% of the heat energy necessary to conduct magnesia calcining in a multiple hearth furnace that would be installed at Driftwood Creek. Further analysis suggested that a specialized burner and fuel additive could supply the remaining energy, MGX added. The study was conducted by two strategic partners, Industrial Furnace Company and Highbury Energy.

MGX also announced its addition to the CSE Composite Index, “a broad measurement of market activity for securities” listed on the exchange. In addition the company doubled a private placement originally offered on June 2, now offered at up to two million shares at $0.30.

MGX issued 300,000 shares to the vendor of Driftwood Creek and 41,318 shares to the vendor of the Needles magnesite project, a California acquisition announced last week. Another 50,000 shares were issued to settle a $15,000 debt.

The company’s Driftwood Creek flagship currently undergoes permitting.

Read more about MGX Minerals.

MGX Minerals makes California magnesite deal

June 18th, 2015

by Greg Klein | June 18, 2015

A company that already holds most of British Columbia’s significant magnesite occurrences has signed a deal on a California project. MGX Minerals CSE:XMG announced a mining lease agreement on June 18 for the Needles magnesite property in San Bernardino county.

MGX Minerals makes California magnesite deal

The Needles agreement locates MGX in
one of North America’s largest construction markets.

Magnesite ore can be calcinated to produce caustic calcined magnesia to produce wallboard. Magnesium oxide wallboard “is generally known to be stronger and lighter than traditional wallboard as well as being fireproof and non-toxic,” the company stated. The product is “often used in areas prone to flooding as the boards can retain moisture, dry out and still retain their shape and integrity.”

The lease of up to 100 years would have renewal options every 10 years. In return MGX would make annual payments of US$12,000, $24,000 and $36,000 over the first three years, then an annual $36,000 plus cost-of-living adjustment. The company would also pay $5,000 within 30 days and issue $10,000 in shares. A work commitment calls for $350,000 in spending within three years. The landowner would retain a 10% net profit interest which MGX may buy for $10 million.

Earlier this month MGX offered a private placement of up to $300,000 and announced a memorandum of understanding with an industrial furnace company to provide engineering services and calcining equipment for MGX’s flagship Driftwood Creek magnesium property.

MGX has a partnership agreement with Eaton Industries (Canada) and Highbury Energy to study the design, development and financing of Driftwood’s proposed mining and processing operation. The southern B.C. project currently undergoes permitting.

Read more about MGX Minerals.

MGX Minerals teams with Eaton Industries and Highbury Energy on Driftwood Creek magnesium project

May 26th, 2015

by Greg Klein | May 26, 2015

A partnership agreement announced May 26 brings MGX Minerals CSE:XMG considerable support to develop its flagship Driftwood Creek magnesium property in southern British Columbia. Immediate plans include a scoping study with initial results expected in about 30 days. The study will consider a processing plant with one or more industrial kilns and ancillary processing equipment for calcining magnesite ore. Caustic calcined magnesia can be used in fertilizer and feedstock, hydrometallurgy for nickel, copper and cobalt, pulp and paper production, and water treatment.

MGX Minerals teams with Eaton Industries and Highbury Energy on Driftwood Creek magnesium project

Recent surface sampling followed
last year’s drill program at Driftwood.

The study will be conducted by Eaton Industries (Canada), a subsidiary of Eaton Corp NYE:ETN, which provides energy-efficient services for electrical, hydraulic and mechanical power, including new mine and mill design. With about 102,000 employees, Eaton Corp’s 2014 revenue came to US$22.6 billion.

The third partner is Highbury Energy, a company that uses proprietary technology to convert biomass into high-grade synthesis or fuel gas. Driftwood’s kiln would be powered partly by Highbury’s technology, offering the project clean, low-cost energy.

The three companies will work together on several aspects of designing, developing and financing Driftwood’s proposed mining and processing project. Additionally, the trio will apply a similar business model to between seven and 10 other industrial minerals projects, MGX stated. The company’s portfolio includes most of B.C.’s known magnesite occurrences.

MGX also holds a strategic alliance with Zimtu Capital TSXV:ZC and Electra Stone TSXV:ELT to develop other B.C. industrial minerals properties, including Electra’s Longworth silica project. Additionally MGX has a technical services agreement regarding Electra’s chalky geyserite (aluminum silica) quarry operation on Vancouver Island.

Read more about MGX Minerals.

Disclaimer: Zimtu Capital Corp is a client of OnPage Media Corp, the publisher of ResourceClips.com. The principals of OnPage Media may hold shares in Zimtu Capital.