Monday 13th July 2020

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Posts tagged ‘PGE’

International Montoro Resources furthers rare earths potential in B.C.

May 13th, 2020

by Greg Klein | May 13, 2020

Detailed analysis of field work shows the rare earths prospects of an early-stage project in east-central British Columbia. On March 13 International Montoro Resources TSXV:IMT announced a report culminating from last year’s grid-based survey of 535 soil samples on the 2,007-hectare Wicheeda North property.

International Montoro Resources furthers rare earths potential in BC

Previous work came under detailed analysis for International
Montoro Resources’ Wicheeda North REE prospect.
(Photo: International Montoro Resources)

“Thematic geochemical anomaly maps were generated for cerium and other values were received for light REEs including lanthanum, neodymium, praseodymium, samarium, europium and gadolinium,” the company stated.

The report was prepared by Bob Lane, who managed 2008 and 2009 drilling programs on the adjacent Wicheeda project, later acquired by First Legacy Mining, now Defense Metals TSXV:DEFN. Lane also took part in First Legacy’s 43-101 report on Wicheeda.

Commenting on International Montoro’s Wicheeda North, Lane said it “has the potential to host, and should continue to be explored for, REE mineralization because it occurs within a favourable geological belt known to contain carbonatite-hosted REE mineralization, such as the Main zone” of the Defense project neighbouring to the southeast.

Future recommendations include further prospecting and grid-based soil sampling. Additionally, airborne electromagnetics were suggested for the southern part of the property, which wasn’t surveyed in the EM, magnetic and radiometric geophysics conducted in 2010.

Given favourable results, Lane’s report recommends the company consider excavator trenching.

Last February the company announced exploration plans for its Camping Lake property in Ontario’s Red Lake region. Under an October 2019 agreement with Falcon Gold TSXV:FG, International Montoro may earn a 51% interest in the gold-base metals project.

Reporting on another Ontario project, International Montoro released geophysical analysis from Serpent River in December. The conclusions could indicate massive sulphide nickel-copper-PGE-gold mineralization on the Elliot Lake-region property, the company stated.

International Montoro’s portfolio also includes the Duhamel polymetallic project in Quebec’s Saguenay-Lac-Saint-Jean region.

Last month the company closed a private placement of $56,525.

Gaia Metals finds new drill targets through updated geophysical analysis

April 16th, 2020

by Greg Klein | April 16, 2020

A gold-polymetallic project in Quebec’s James Bay region shows additional potential following re-evaluation of previous data. On behalf of Gaia Metals TSXV:GMC, Dynamic Discovery Geoscience applied new methods and software to a 1998 induced polarization and resistivity survey over the Golden Gap area of the Corvette-FCI property. With greater geological insight, Gaia now sees a different trend of mineralization that has yet to be drilled, along with additional strike extensions, and parallel and sub-parallel trends.

Gaia Metals finds new drill targets through updated geophysical analysis

Gaia Metals’ polymetallic potential expands,
thanks to modern re-interpretation of historic data.
(Photo: Gaia Metals)

The project comprises Gaia’s 100%-held Corvette claims and a 75% earn-in from Osisko Mining TSX:OSK spinout O3 Mining TSXV:OIII on the FCI-East and FCI-West blocks.

Historic, non-43-101 results from Golden Gap include samples up to 108.9 g/t gold, and a drill intercept of 10.48 g/t gold over seven metres. Areas of interest also include the Elsass and Lorraine prospects, the latter showing an outcrop sample of 8.15% copper, 1.33 g/t gold and 171 g/t silver. Lithium-tantalum channel samples from the CV1 pegmatite reached up to 2.28% Li2O and 471 ppm Ta2O5 over six metres.

The new interpretation finds two separate trends to a previously identified signature. A northern trend strongly corresponds with the historic samples up to 108.9 g/t gold. A less-intense southern trend doesn’t correspond with high-grade sampling. Yet it was the southern trend that was drilled to follow an historic intercept of 10.5 g/t gold over seven metres, even though that trend doesn’t correlate with the mineralized zone in that drill hole.

Outcrop samples collected last year found new gold occurrences along strike to the west, “further supporting the interpreted trend in this direction and significantly amplifying the potential,” Gaia stated. “The western trend outlined in the IP-resistivity data continues to the boundary of the survey, indicating it extends further west.”

Additional areas correlate with surface samples grading between 1 and 3 g/t gold, showing targets that are “parallel to sub-parallel to the main mineralized trend and occur within an area of approximately 2.5 kilometres east-west by 1.5 kilometres north-south,” the company added. “Each of these prospective targets and trends remains to be drill-tested.”

In February the company announced a geological review that highlighted the project’s potential for nickel, copper and platinum group elements. An historic outcrop sample from the Lac Long Sud area brought 3.1 g/t gold, 1.06 g/t palladium, 0.005 g/t platinum, 7.5 g/t silver, 0.24% copper, 0.19% nickel and 411 g/t cobalt. Despite those grades, little of the historic work and none of last year’s samples were assayed for PGEs. “Hence these seemingly isolated results necessitate further geochemical analysis in future exploration programs.”

Among other assets, Gaia’s portfolio includes the Pontax lithium-gold property in Quebec, the Golden silica property in British Columbia and a 40% interest in the Northwest Territories’ Hidden Lake lithium property.

International Montoro Resources moves into Ontario’s Red Lake camp

October 23rd, 2019

by Greg Klein | October 23, 2019

A new acquisition brings another player into a busy northwestern Ontario mining and exploration region. Under an agreement announced October 23, International Montoro Resources TSXV:IMT can earn a 51% interest in the 2,250-hectare Camping Lake property on the Birch-Uchi-Confederation Lakes greenstone belt, home to the Red Lake gold deposits and Great Bear Resources’ (TSXV:GBR) attention-grabbing Dixie Lake property 20 kilometres north.

International Montoro Resources moves into Ontario’s Red Lake camp

Previous work at Camping Lake includes petrographic studies, rock, soil and lake sediment samples, IP and ground geophysics, as well as drilling. Conducted between 2010 and 2013, the work was carried out by Laurentian Goldfields, Kinross Gold TSX:K and AngloGold Ashanti NYSE:AU. Montoro plans an immediate compilation of exploration data prior to its own program.

Under the JV agreement with Falcon Gold TSXV:FG, Montoro would issue 1.5 million shares over one year and assume Falcon’s payments of $65,000 over four years. Montoro’s exploration commitments would call for $100,000 within one year and another $200,000 over the second year. On earning the initial 51%, Montoro could up its stake to 75% by paying $500,000. A 2% NSR applies.

In Ontario’s Elliot Lake district, Montoro has found nickel-copper-PGE potential in addition to historic uranium and rare earths mineralization on the company’s Serpent River project. Last month Montoro engaged Mira Geoscience to undertake an extensive study of the company’s drilling and geophysics data, along with previous work on or around the property by other companies and regional programs by the Ontario Geological Survey.

In central British Columbia’s Cariboo region, Montoro holds a 2,138-hectare property bordering Defense Metals’ TSXV:DEFN Wicheeda rare earths project.

In southern Quebec’s Saguenay-Lac-Saint-Jean region, Montoro holds the Duhamel titanium-vanadium-chromium prospect. The company’s portfolio also includes two northern Saskatchewan uranium properties held 50/50 with Belmont Resources TSXV:BEA.

Earlier this month Montoro closed a private placement first tranche of $47,500.

Read more about International Montoro Resources.

Read more about Ontario’s Red Lake camp.

International Montoro Resources employs high-tech analysis of Elliot Lake-region nickel-copper prospect

September 10th, 2019

by Greg Klein | September 10, 2019

A geophysical analysis on the property released last March found targets described as “good candidates for semi-massive nickel-copper mineralization.” Now International Montoro Resources TSXV:IMT has contracted Mira Geoscience to compile and analyze a much larger data set for the Pecors Lake project, part of the 1,840-hectare Serpent River property in Ontario’s Elliot Lake district.

International Montoro Resources employs high-tech analysis of Elliot Lake-region nickel-copper prospect

Nickel-copper potential brings new interest to
International Montoro Resources’ Serpent River property.

Historic drilling on Serpent’s southwestern area found uranium-rare earths mineralization. But extensive geophysical programs completed last year alerted Montoro to nickel-copper-PGE potential as well. A 3D model revealed that three assumed magnetic anomalies at Pecors actually comprise one contiguous anomaly estimated to be five kilometres long, two kilometres wide and two kilometres deep.

Considered pioneers of advanced geological and geophysical 3D and 4D modelling, Mira Geoscience will enter a library of data into its Geoscience Analyst 3D interactive platform. Included will be Ontario Geological Survey geochem and petrographic studies; OGSEarth data from drilling conducted by Teck Resources TSX:TECK.A/TSX:TECK.B, Rio Tinto NYSE:RIO, BHP Billiton NYSE:BHPand others on or near the property; federal government regional gravity and magnetic surveys; Montoro’s 22 drill holes; and downhole EM data for two holes reaching depths of one and 1.3 kilometres respectively.

In central British Columbia, Montoro had a 43-101 technical study completed in April for its recently acquired Wicheeda North property, adjacent to the Wicheeda rare earths deposit currently being drilled by Defense Metals TSXV:DEFN under option from Spectrum Mining. The report states that Wicheeda North “has the potential to host, and should continue to be explored for, rare earth element mineralization because it occurs within a favourable geological belt known to contain carbonatite-hosted REE mineralization.”

A 3D magnetic inversion was completed in June for the property, which Montoro has expanded to 2,138 hectares.

The company’s portfolio also includes the 2,300-hectare Duhamel property in central Quebec, considered prospective for nickel-copper-cobalt, as well as titanium-vanadium-chromium.

Along with Belmont Resources TSXV:BEA, Montoro shares 50/50 ownership of two uranium properties in northern Saskatchewan’s Uranium City area.

Last month Montoro closed a private placement first tranche of $47,500.

Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

August 8th, 2018

by Greg Klein | August 8, 2018

A property with limited exploration but encouraging geophysics shows further promise following a recent field program. Of eight surface samples collected by Saville Resources TSXV:SRE on its 3,370-hectare Covette project in Quebec’s James Bay region, one returned 1.2% zinc and 68.7 g/t silver, while three others assayed between 0.13% and 0.19% nickel.

Saville Resources discovers new zinc-silver-nickel zone at surface in Quebec

Saville Resources now plans trenching and channel
sampling to follow Covette’s grab sample assays.

Sampling took place along a visible strike of about 200 metres directly above an area of high conductivity found by a 2016 VTEM program that spotted several EM conductors coinciding with strong magnetic anomalies.

Underlying the region is a greenstone belt “comprised of various mafic to ultramafic rock units considered prospective for base and precious metals (nickel-copper-cobalt-platinum group elements-gold-silver), as well as pegmatite-hosted rare metals (lithium-tantalum),” Saville reported. “Komatiites have also been described in the region with such rock types known to host significant nickel-copper massive sulphide deposits at other localities globally, adding further to the prospective nature of the region.”

A sampling program in 2017 brought 0.18% nickel, 0.09% copper and 87 ppm cobalt. One historic, non-43-101 grab sample returned 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver. Another historic sample showed 1.2 g/t silver and 0.18% copper.

Further plans include follow-up trenching and channel sampling. Saville filed a 43-101 technical report on the property and closed its 100% acquisition in June.

Covette sits about 190 kilometres east of the town of Radisson and 10 kilometres north of the all-weather Trans-Taiga road and the adjacent hydro-electricity transmission line.

In another northern Quebec project, Saville has a 43-101 technical report underway for the Miranna claims situated on the Eldor property that hosts Commerce Resources’ (TSXV:CCE) advanced-stage Ashram rare earths deposit. Saville would acquire a 75% earn-in subject to exchange approval. In April the companies released niobium-tantalum boulder sample grades as high as 4.3% Nb2O5 and 700 ppm Ta2O5.

Last month Saville offered two private placements totalling up to $2 million.

Read more about Saville Resources.

Critical attention

December 21st, 2017

The U.S. embarks on a national strategy of greater self-reliance for critical minerals

by Greg Klein

A geopolitical absurdity on par with some aspects of Dr. Strangelove and Catch 22 can’t be reduced simply through an executive order from the U.S. president. But an executive order from the U.S. president doesn’t hurt. On December 20 Donald Trump called for a “federal strategy to ensure secure and reliable supplies of critical minerals.” The move came one day after the U.S. Geological Survey released the first comprehensive update on the subject since 1973, taking a thorough look—nearly 900-pages thorough—at commodities vital to our neighbour’s, and ultimately the West’s, well-being.

U.S. president Trump calls for a national strategy to reduce foreign dependence on critical minerals

The U.S. 5th Security Forces Squadron takes part in a
September exercise at Minot Air Force Base, North Dakota.
(Photo: Senior Airman J.T. Armstrong/U.S. Air Force)

The study, Critical Mineral Resources of the United States, details 23 commodities deemed crucial due to their possibility of supply disruption with serious consequences. Many of them come primarily from China. Others originate in unstable countries or countries with a dangerous near-monopoly. For several minerals, the U.S. imports its entire supply.

They’re necessary for medicine, clean energy, transportation and electronics but maybe most worrisome, for national security. That last point prompted comments from U.S. Secretary of the Interior Ryan Zinke, whose jurisdiction includes the USGS. He formerly spent 23 years as a U.S. Navy SEAL officer.

“I commend the team of scientists at USGS for the extensive work put into the report, but the findings are shocking,” he stated. “The fact that previous administrations allowed the United States to become reliant on foreign nations, including our competitors and adversaries, for minerals that are so strategically important to our security and economy is deeply troubling. As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe.”

Trump acknowledged a number of domestic roadblocks to production “despite the presence of significant deposits of some of these minerals across the United States.” Among the challenges, he lists “a lack of comprehensive, machine-readable data concerning topographical, geological and geophysical surveys; permitting delays; and the potential for protracted litigation regarding permits that are issued.”

[Trump’s order also calls for] options for accessing and developing critical minerals through investment and trade with our allies and partners.

Trump ordered a national strategy to be outlined within six months. Topics will include recycling and reprocessing critical minerals, finding alternatives, making improved geoscientific data available to the private sector, providing greater land access to potential resources, streamlining reviews and, not to leave out America’s friends, “options for accessing and developing critical minerals through investment and trade with our allies and partners.”

Apart from economic benefits, such measures would “enhance the technological superiority and readiness of our armed forces, which are among the nation’s most significant consumers of critical minerals.”

In fact the USGS report finds several significant uses for most of the periodic table’s 92 naturally occurring elements. A single computer chip requires well over half of the table. Industrialization, technological progress and rising standards of living have helped bring about an all-time high in minerals demand that’s expected to keep increasing, according to the study.

“For instance, in the 1970s rare earth elements had few uses outside of some specialty fields, and were produced mostly in the United States. Today, rare earth elements are integral to nearly all high-end electronics and are produced almost entirely in China.”

The USGS tracks 88 minerals regularly but also works with the country’s Defense Logistics Agency on a watch list of about 160 minerals crucial to national security. This week’s USGS study deems the critical 23 as follows:

  • antimony
  • barite
  • beryllium
  • cobalt
  • fluorite or fluorspar
  • gallium
  • germanium
  • graphite
  • hafnium
  • indium
  • lithium
  • manganese
  • niobium
  • platinum group elements
  • rare earth elements
  • rhenium
  • selenium
  • tantalum
  • tellurium
  • tin
  • titanium
  • vanadium
  • zirconium

A January 2017 USGS report listed 20 minerals for which the U.S. imports 100% of its supply. Several of the above critical minerals were included: fluorspar, gallium, graphite, indium, manganese, niobium, rare earths, tantalum and vanadium.

This comprehensive work follows related USGS reports released in April, including a breakdown of smartphone ingredients to illustrate the range of countries and often precarious supply chains that supply those materials. That report quoted Larry Meinert of the USGS saying, “With minerals being sourced from all over the world, the possibility of supply disruption is more critical than ever.”

As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe.—Ryan Zinke,
U.S. Secretary of the Interior

David S. Abraham has been a prominent advocate of a rare minerals strategy for Western countries. But in an e-mail to the Washington Post, the author of The Elements of Power: Gadgets, Guns, and the Struggle for a Sustainable Future in the Rare Metal Age warned that Trump’s action could trigger a partisan battle. He told the Post that Republicans tend to use the issue to loosen mining restrictions while Democrats focus on “building up human capacity to develop supply chains rather than the resources themselves.”

Excessive and redundant permitting procedures came under criticism in a Hill op-ed published a few days earlier. Jeff Green, a Washington D.C.-based defence lobbyist and advocate of increased American self-reliance for critical commodities, argued that streamlining would comprise “a positive first step toward strengthening our economy and our military for years to come.”

In a bill presented to U.S. Congress last March, Rep. Duncan Hunter proposed incentives for developing domestic resources and supply chains for critical minerals. His METALS Act (Materials Essential to American Leadership and Security) has been in committee since.

Speaking to ResourceClips.com at the time, Abraham doubted the success of Hunter’s bill, while Green spoke of “a totally different dynamic” in the current administration, showing willingness to “invest in America to protect our national security and grow our manufacturing base.”

Update: Read about Jeff Green’s response to the U.S. national strategy.

“Shocking” USGS report details 23 minerals critical to America’s economy and security

December 19th, 2017

This story has been expanded and moved here.

Visual Capitalist: One chart shows EVs’ potential impact on commodities

September 15th, 2017

by Jeff Desjardins | posted with permission of Visual Capitalist | September 15, 2017

 

One chart shows EVs’ potential impact on commodities

The Chart of the Week is a Friday feature from Visual Capitalist.

 

How demand could change in a 100% EV world

What would happen if you flipped a switch and suddenly every new car that came off assembly lines was electric?

It’s obviously a thought experiment, since right now EVs have close to just 1% market share worldwide. We’re still years away from EVs even hitting double-digit demand on a global basis, and the entire supply chain is built around the internal combustion engine, anyways.

At the same time, however, the scenario is interesting to consider. One recent projection, for example, put EVs at a 16% penetration by 2030 and then 51% by 2040. This could be conservative depending on the changing regulatory environment for manufacturers—after all, big markets like China, France and the UK have recently announced that they plan on banning gas-powered vehicles in the near future.

The thought experiment

We discovered this “100% EV world” thought experiment in a UBS report that everyone should read. As a part of their UBS Evidence Lab initiative, they tore down a Chevy Bolt to see exactly what is inside, and then had 39 of the bank’s analysts weigh in on the results.

After breaking down the metals and other materials used in the vehicle, they noticed a considerable amount of variance from what gets used in a standard gas-powered car. It wasn’t just the battery pack that made a difference—it was also the body and the permanent-magnet synchronous motor that had big implications.

As a part of their analysis, they extrapolated the data for a potential scenario where 100% of the world’s auto demand came from Chevy Bolts, instead of the current auto mix.

The implications

If global demand suddenly flipped in this fashion, here’s what would happen:

Material Demand increase Notes
Lithium 2,898% Needed in all lithium-ion batteries
Cobalt 1,928% Used in the Bolt’s NMC cathode
Rare Earths 655% Bolt uses neodymium in permanent magnet motor
Graphite 524% Used in the anode of lithium-ion batteries
Nickel 105% Used in the Bolt’s NMC cathode
Copper 22% Used in permanent magnet motor and wiring
Manganese 14% Used in the Bolt’s NMC cathode
Aluminum 13% Used to reduce weight of vehicle
Silicon 0% Bolt uses six to 10 times more semiconductors
Steel -1% Uses 7% less steel, but fairly minimal impact on market
PGMs -53% Catalytic converters not needed in EVs

Some caveats we think are worth noting:

The Bolt is not a Tesla

The Bolt uses an NMC cathode formulation (nickel, manganese and cobalt in a 1:1:1 ratio), versus Tesla vehicles which use NCA cathodes (nickel, cobalt and aluminum, in an estimated 16:3:1 ratio). Further, the Bolt uses a permanent-magnet synchronous motor, which is different from Tesla’s AC induction motor—the key difference being rare earth usage.

Big markets, small markets

Lithium, cobalt and graphite have tiny markets, and they will explode in size with any notable increase in EV demand. The nickel market, which is more than $20 billion per year, will also more than double in this scenario. It’s also worth noting that the Bolt uses low amounts of nickel in comparison to Tesla cathodes, which are 80% nickel.

Meanwhile, the 100% EV scenario barely impacts the steel market, which is monstrous to begin with. The same can be said for silicon, even though the Bolt uses six to 10 times more semiconductors than a regular car. The market for PGMs like platinum and palladium, however, gets decimated in this hypothetical scenario—that’s because their use as catalysts in combustion engines are a primary source of demand.

Posted with permission of Visual Capitalist.

Nickel One Resources signs definitive agreement to acquire Finnish PGE-polymetallic project

February 1st, 2017

by Greg Klein | February 1, 2017

Nickel One Resources signs definitive agreement to acquire Finnish PGE-polymetallic project

The 3,750-hectare LK property
benefits from $10 million of previous work.

Jurisdiction, infrastructure, historic work and a mouthful of a name attracted Nickel One Resources TSXV:NNN to Finland and the Lantinen Koillismaa platinum group element-copper-nickel project. But the company calls it LK for short. On February 1 two parties signed a definitive agreement on a deal that’s been several months in the making.

Subject to regulatory approvals, Nickel One gets the property by taking over a subsidiary of Finore Mining CSE:FIN.

(Update: The property was originally reported to have a 2013 resource estimate for two deposits. In a clarification dated March 22, 2017, Nickel One stated the estimates aren’t supported by a compliant 43-101 technical report and shouldn’t be relied on. On December 1, 2017, the company announced filing a 43-101 technical report that “shows there are no current mineral resources on the LK project.”)

Companies accustomed to the Canadian north might look with envy at LK’s location, 65 kilometres south of the Arctic Circle. The property has power, year-round road access, rail 40 kilometres away and a port 160 kilometres west. Nickel One describes the region as “populated by several large-scale producers and three smelters,” while the company’s management “is highly experienced in the exploration and development of ultramafic intrusion-hosted nickel-copper-PGE projects.”

Part of that experience comes from Nickel One’s Tyko property in northwestern Ontario, from where the company announced drill results last spring.

Read more about Nickel One Resources and the Lantinen Koillismaa acquisition.

Nickel One Resources moves closer to PGE-copper-nickel acquisition in Finland

October 19th, 2016

by Greg Klein | October 19, 2016

Nickel One Resources moves closer to Finnish PGE-copper-nickel acquisition

Over $10 million in previous work has gone into Lantinen Koillismaa.

Nickel One Resources’ (TSXV:NNN) Finland entry took another step forward with a binding letter agreement announced October 19. Already holding the Tyko project in western Ontario, Nickel One would get a 100% interest in Finore Mining’s (CSE:FIN) Lantinen Koillismaa platinum group element-copper-nickel project in north-central Finland. An LOI was announced in August.

The property would come through the purchase of Finore subsidiary Nortec Minerals Oy in a deal costing five million shares and 2.5 million warrants exercisable at $0.12 for two years. Nickel One has paid $50,000, which would be applied to a private placement of up to $100,000 into Finore following due diligence.

LK benefits from over $10 million in previous work.

(Update: The property was originally reported to have a 2013 resource estimate for two deposits. In a clarification dated March 22, 2017, Nickel One stated the estimates aren’t supported by a compliant 43-101 technical report and shouldn’t be relied on. On December 1, 2017, the company announced filing a 43-101 technical report that “shows there are no current mineral resources on the LK project.”)

The acquisition would bring Nickel One into “a mining-friendly jurisdiction with some of the best infrastructure in the world,” commented president Vance Loeber. The project also provides “a foothold in Finland from which we will be taking a hard look at other opportunities to continue to build a strong portfolio of projects,” he added.

Read more about Nickel One Resources and the Lantinen Koillismaa acquisition.