Sunday 18th November 2018

Resource Clips


Posts tagged ‘tantalum’

Out crops opportunity

October 31st, 2018

Outcrops, pegmatites and spodumene mean lithium and tantalum for 92 Resources

by Greg Klein

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

92 Resources’ James Bay-region Corvette property features
drill-ready targets as well as 15 kilometres of potential strike to evaluate.

 

An early-stage but steadily advancing project shows 92 Resources TSXV:NTY focusing firmly on northern Quebec’s lithium. Successful field work so far has inspired two large property expansions, one in a deal with Osisko Mining TSX:OSK. Now with about 15 kilometres of potential strike length in one package, 92 hopes to prove up grade and tonnage to bring its Corvette property to an advanced level.

A series of outcrops reveals lithium along with tantalum occurring in spodumene-bearing pegmatite over at least two sub-parallel structures, explains Darren Smith. “We have drill-ready targets as well as lots of highly prospective ground to explore.” Having worked with the company for about two years through Dahrouge Geological Consulting and been a 92 advisory board member since July, he’s obviously enthusiastic about the project.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

Surface showings have 92 Resources
optimistic about Corvette’s deeper potential.

And as a resident of Quebec City, he likes the jurisdiction too. “Quebec offers a lot of provincial support for mining,” Smith points out. “Also our Quebec projects fall within the James Bay Northern Quebec Agreement, which has structures in place for First Nations engagement and resource management.”

Corvette marked a change of direction for the company, after 92 optioned its Hidden Lake lithium property in the Northwest Territories to Far Resources CSE:FAT last January. Despite that project’s favourable sampling and metallurgical results, 92 saw even greater potential in its Quebec acquisitions. The theory found support from subsequent channel sampling grades and widths.

In September 92 released assays from 40 channel samples taken on the property’s CV1 pegmatite that averaged 1.35% Li2O. Tantalum showed up too, grading an average 109 ppm Ta2O5. Some highlights revealed:

  • 1.54% Li2O and 136 ppm Ta2O5 over 8 metres

  • 1.77% Li2O and 54 ppm Ta2O5 over 6 metres

  • 1.36% Li2O and 128 ppm Ta2O5 over 11 metres

  • 1.2% Li2O and 128 ppm Ta2O5 over 4 metres

  • 1.02% Li2O and 95 ppm Ta2O5 over 11 metres

About 50 metres north, the CV2 pegmatite showed:

  • 0.73% Li2O and 140 ppm Ta2O5 over 4 metres

  • 0.55% Li2O and 136 ppm Ta2O5 over 4 metres

True widths weren’t known.

Another promising development was the discovery of two more spodumene-bearing pegmatites. A grab sample grading 1.61% Li2O came from CV3, about 250 metres south of CV1. A 0.74% grab sample marked CV4, about three kilometres northeast and along strike of CV1.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

Corvette outcrops can host a helicopter
as well as spodumene-bearing pegmatite.

“We’re looking for tonnage and grade, and the grade has been demonstrated to be quite favourable,” Smith says. “The program added more tonnage potential through the CV3 and CV4 pegmatites, which show there might be multiple parallel structures. Because we have large occurrences over a three-kilometre strike length, it is inferred that it could be decent depth and that’s how to build tonnage. So now we have a structure over three kilometres along strike with mineralized spodumene-bearing pegmatite at either end. This is very positive because pegmatites tend to occur in swarms and congregations.”

The potential strike could be much greater yet, thanks to recent property expansions. In August the company staked another 4,918 hectares, more than doubling Corvette’s size. The following month 92 announced a 75% earn-in on Osisko’s neighbouring FCI claims, adding 14,034 hectares to the project and putting a potential strike of 15 kilometres into one package.

“Satellite imagery suggests favourable-looking outcrops there as well, so we’re pretty excited about that. We now have a lot of strike length that remains to be evaluated on the joint venture with Osisko, as well as drill-ready targets on the CV1 and 2 pegmatites.”

With a $250,000 work commitment for year one, FCI might take precedence over CV1 and 2. Plans will be determined shortly by a committee made up of two reps from each company. Osisko will act as operator on FCI in accordance with a previous ownership agreement.

Outcrops, pegmatites and spodumene mean lithium for 92 Resources

An earn-in with Osisko Mining
expands Corvette’s size and potential.

Gold and base metals possibilities also merit attention. An earlier grab sample from FCI reported by Virginia Mines brought historic, non-43-101 results of 38.1 g/t gold, while another graded 0.3 g/t gold, 150 g/t silver, 1.89% copper, 11.15% lead and 1.45% zinc.

Interestingly, that was the report that tipped off 92 about Corvette’s lithium potential. Not focused on the energy metal, Virginia just briefly noted the presence of pegmatite. Intrigued, 92 made an initial one-day visit in October 2017 “and saw massive spodumene sparkling on this big outcrop,” remembers Smith. Grab samples revealed 0.8%, 3.48% and 7.32% Li2O from the then-unnamed CV1 pegmatite and 1.22% from CV2, which also returned 90 ppm Ta2O5.

Currently helicopter-accessible, the exploration area sits about 15 kilometres south of the all-season Trans-Taiga Road and transmission line.

92’s also been busy with lithium-bearing pegmatite on its Pontax project, roughly 260 crow-flying kilometres southwest of Corvette. A week of work curtailed by last summer’s forest fires brought one grab sample grading 0.94% Li2O and 520 ppm Ta2O5, while another taken 600 metres away showed 0.72% Li2O and 87 ppm Ta2O5. A third sample taken another 1.3 kilometres along strike assayed 631 ppm Ta2O5 and an anomalous 0.02% Li2O.

“The samples come from an area of large outcrops that likely connect. The samples are random and separated by a decent distance, so they’re probably representative,” says Smith. “It’s a very good secondary project that complements Corvette.”

The company holds two other James Bay-region properties hosting pegmatite, Eastmain and Lac du Beryl. Looking at an entirely different energy-related commodity, 92 filed a 43-101 technical report for the Golden frac sand project in southern British Columbia last April. Located adjacent to the Moberly silica mine where Northern Silica restarted operations last year, Golden “hits the criteria for grade, rail and other infrastructure, proximity to markets and commodity demand,” says Smith.

As for Corvette, “I think it has enormous potential. It has a lot of tonnage potential, it’s in a new area, the geology works and the next program could really make the difference. So it’s positioned with a maximum amount of upside. The Osisko deal is very positive too and they’re a good partner to have, so I think 92 is well-positioned to really maximize the value of this asset.”

Saville Resources president Mike Hodge discusses the fall field program on the company’s niobium-tantalum project in Quebec

October 30th, 2018

…Read more

92 Resources expands Quebec lithium potential with new pegmatite discovery

October 25th, 2018

by Greg Klein | October 25, 2018

While remaining focused on its flagship Corvette project, 92 Resources TSXV:NTY announced surface exploration results from another Quebec lithium property. A week of field work at the James Bay-region Pontax project found pegmatite hosting lithium along with tantalum. One outcrop grab sample graded 0.94% Li2O and 520 ppm Ta2O5, while another taken 600 metres away assayed 0.72% Li2O and 87 ppm Ta2O5. A third sample taken another 1.3 kilometres along strike revealed 631 ppm Ta2O5 and an anomalous 0.02% Li2O.

92 Resources expands Quebec lithium potential with new pegmatite discovery

Last summer’s field program found lithium-bearing pegmatite
at surface on 92 Resources’ Pontax property in northern Quebec.

The program followed a review of historic work, satellite imagery and last spring’s tightly spaced airborne magnetic survey. Satellite imagery suggests the presence of several outcrops which might indicate a larger body under thin overburden, the company stated.

Further prospecting brought samples grading up to 141 ppb gold. Forest fires limited work, leaving some geophysical targets yet to be assessed.

The 5,536-hectare property sits in a region hosting other lithium projects including Nemaska Lithium’s (TSX:NMX) Whabouchi mine now under construction about 90 kilometres east.

Last month 92 Resources announced channel sample results from Corvette, another James Bay-region project and the company’s flagship. Forty samples taken from the property’s CV1 pegmatite ranged between 0.02% and 3.85% Li2O, averaging 1.35%. CV1 samples also averaged 109 ppm Ta2O5, while CV2 pegmatite samples averaged 138 ppm Ta2O5.

CV3 and CV4, two recently discovered spodumene-bearing pegmatites, showed grab samples grading 1.61% Li2O and 0.74% Li2O respectively. The company has permitting underway for an initial drill program on CV1 and CV2, and plans follow-up surface work on CV3 and CV4.

Earlier last month 92 Resources signed a 75% option on adjoining claims that make up the eastern area of Osisko Mining’s (TSX:OSK) FCI property. The acquisition would place the entire pegmatite trend currently defined by Corvette’s four known pegmatites in one project.

In April 92 Resources filed a 43-101 technical report on the Golden silica property in eastern British Columbia.  The company has optioned its Hidden Lake lithium project in the Northwest Territories to Far Resources CSE:FAT, which earned an initial 60% on completing last summer’s 10-hole drill campaign.

Depending on the enemy

October 10th, 2018

The U.S. calls for new supply strategies to meet economic and defence risks

by Greg Klein

The goal might be summed up by a new slogan: Make America Self-Reliant Again. Or, with a tad less concision: Let’s Stop Relying on an Economic Rival that’s a Potential Military Threat for the Stuff We Need to Compete with an Economic Rival that’s a Potential Military Threat.

A newly released study from the U.S. Secretary of Defense illustrates that absurd dilemma. The dependency runs the gamut from sourcing raw materials to refining them, manufacturing key components, developing R&D, training workers, even setting prices. As the report says, “The central challenge to U.S. prosperity and security is the reemergence of long-term, strategic competition by what the National Security Strategy classifies as revisionist powers. It is increasingly clear that China and Russia want to shape a world consistent with their authoritarian model—gaining veto authority over other nations’ economic, diplomatic, and security decisions.”

The U.S. calls for new supply chain strategies to meet economic and defence risks

But Russia merits little mention in the 146-page document. China comes up again and again as the pre-eminent economic and military threat with a long-term hegemonic strategy.

That strategy’s been very successful, leaving the U.S. sorely unprepared for the resulting risks. Ordered by President Donald Trump in July 2017, the report urges a government-wide program to address the entire range of supply chain challenges.

The 2010 Senkaku incident, dramatic as it was, can be seen as a mere microcosm of a much bigger threat.

“China’s domination of the rare earth element market illustrates the potentially dangerous interaction between Chinese economic aggression guided by its strategic industrial policies and vulnerabilities and gaps in America’s manufacturing and defense industrial base,” the report warns. “China has strategically flooded the global market with rare earths at subsidized prices, driven out competitors, and deterred new market entrants. When China needs to flex its soft power muscles by embargoing rare earths, it does not hesitate, as Japan learned in a 2010 maritime dispute.”

It was a lesson learned by other countries too. The report describes rare earths as “critical elements used across many of the major weapons systems the U.S. relies on for national security, including lasers, radar, sonar, night vision systems, missile guidance, jet engines, and even alloys for armored vehicles.”

Rare earths figure prominently in the U.S. list of 35 critical minerals drafted last February and confirmed in May. American dependency was further highlighted when the country dropped rare earths from a revised list of tariffs on Chinese imports announced in September.

China’s soft power hardball has targeted other American allies as well, waging “aggressive economic warfare” against South Korea after the country installed an American air defence system. Other examples of “economic coercion” include “a ban on Philippine bananas over territorial disputes in the South China Sea; the aforementioned restriction of rare earth exports to Japan following the Senkaku Islands dispute in 2010; persistent economic intimidation against Taiwan; and the recent ceding of a Sri Lankan port.”

China can play nice too. But at a price. The country invests heavily in developing countries, often building infrastructure “in exchange for an encumbrance on their natural resources and access to their markets.”

As for Chinese electronics exports, they “lack the level of scrutiny placed on U.S. manufacturers, driving lower yields and higher rates of failures in downstream production, and raising the risk of ‘Trojan’ chips and viruses infiltrating U.S. defense systems.”

Technological expertise becomes a strategic weapon too. “As part of its industrial policy aggression, China has forced many American companies to offshore their R&D in exchange for access to the Chinese market.”

With an advanced-stage rare earths project in northern Quebec as well as advanced-stage tantalum-niobium in southern British Columbia, Commerce Resources TSXV:CCE president Chris Grove keeps tabs on Canada’s neighbour. “People in Washington tell me the anxiety level on these issues has never been higher,” he notes.

Here’s the world’s biggest military and they’re saying, ‘We need Chinese stuff to make it all work?’ That’s really for most Americans an absolutely untenable and unbelievable position of weakness.—Chris Grove,
president of Commerce Resources

“Apart from the trade imbalance between the U.S. and China, there’s the vulnerability of the U.S. military. Here’s the world’s biggest military and they’re saying, ‘We need Chinese stuff to make it all work?’ That’s really for most Americans an absolutely untenable and unbelievable position of weakness.”

Sources in Washington encouraged Grove to apply for a research grant from the U.S. Defense Logistics Agency. If successful, the application would bring up to $3 million to further metallurgical progress on his company’s Ashram rare earths project, advancing a potential source in a stable and allied country.

That would complement one of the report’s key recommendations, to “diversify away from complete dependency on sources of supply in politically unstable countries who may cut off U.S. access; diversification strategies may include re-engineering, expanded use of the National Defense Stockpile program, or qualification of new suppliers.”

Other recommendations include creating an industrial policy that supports national security, working with allies and partners on industrial development, expanding industrial investment, addressing manufacturing and industrial risk within the energy and nuclear sectors, encouraging home-grown scientific expertise and occupational skills, and exploring next generation technology for future threats.

In ordering the study, Trump stated the loss of key companies, over 60,000 American factories and almost five million manufacturing jobs since 2000 “threatens to undermine the capacity and capabilities of United States manufacturers to meet national defense requirements and raises concerns about the health of the manufacturing and defense industrial base.”

Digital addictions reach new dimensions in British Columbia

September 27th, 2018

by Greg Klein | September 27, 2018

Maybe this represents a distinctly West Coast weirdness inapplicable to the real world. If not and the trend grows, however, the engagement diamond trade looks doomed, as does procreation. But while waiting for our species to die out, we should be heartened by increased demand for rare earths, tantalum and other necessities of the electronic age.

Digital addictions reach new dimensions in British Columbia

B.C. has long been liberal on issues of sexual preference.

A BC Hydro study found its customers devote an average of 4.7 hours a day, 33 hours a week and 132 hours a month—about a third of their waking time—with the electronic love of their lives, smartphones and tablets. So strong is the passion for smartphones that it can take precedence over human relationships.

“Over a quarter of British Columbians aged 25 to 54 would rather give up seeing their spouse or partner for a day than give up their smartphone or tablet for 24 hours,” the provincial utility reports. “This jumps to one-third for those aged 55 to 64.”

Nor does the preference preclude intimacy. “One-fifth of British Columbians admit to sleeping with their smartphone in bed—and 70% of those aged 18 to 24 at least occasionally sleep with their device.”

Not surprisingly, then, nearly a third of the province between 18 and 24 would give up home heating on a cold winter day rather than their smartphone. Same thing for a day’s pay in the 18-to-34 age bracket.

Maybe most startling of all, “two-thirds of British Columbians would be willing to forgo their morning coffee for two days than their smartphone or tablet for the same time frame.”

Although the BC Hydro report focuses on the implications of electronic devices for electricity consumption, there’s no mention of even greater demand from electric vehicles.

A separate subject, of course, concerns supply of the materials that make up electronic devices. Last year the U.S. Geological Survey broke down the smartphone’s ingredients to demonstrate society’s dependency on wide-ranging and often insecure supply chains. Among them are rare earths from China and tantalum from Rwanda and the Democratic Republic of Congo, both sources of conflict metals. Heightened supply concern has brought an increasing American government focus on critical minerals, while the potential effects of a U.S.-China trade war threaten to exacerbate the situation.

Saville Resources mobilizes for niobium-tantalum field work in northern Quebec

September 25th, 2018

by Greg Klein | September 25, 2018

Encouraging assays and heightening concern for critical minerals bring an exploration team back to Saville Resources’ (TSXV:SRE) Niobium claim group in Quebec’s Labrador Trough region. The program follows earlier drilling as well as more recent niobium-tantalum boulder samples that reached as high as 4.3% Nb2O5 and 700 ppm Ta2O5. With work carried out by Dahrouge Geological Consulting, the autumn agenda calls for prospecting and ground geophysics to identify future drill targets.

Saville Resources mobilizes for niobium-tantalum field work in northern Quebec

A view from a ridge on Saville Resources’ Niobium claim
group, now progressing towards an updated geological model.

The 1,223-hectare project sits on the Eldor property which also hosts Commerce Resources’ (TSXV:CCE) Ashram rare earths deposit, now moving towards pre-feasibility. Under an agreement with Commerce, Saville may earn 75% of the Niobium claim group. The company has two weeks planned for the current campaign.

A 43-101 technical report filed earlier this month “concludes there is a ‘strong potential for carbonatite-hosted niobium-tantalum deposit(s) of significance’,” noted president Mike Hodge. “Discoveries start with boots on the ground and we look forward to following this work up with an aggressive and targeted drill campaign to further unlock this potential.”

Among places slated for ground magnetics is the Southeast area, where mineralization is often associated with magnetite. Prospecting will focus on relatively untouched areas but also the vicinity of drill programs dating to 2008 and 2010. Hole EC10-033 returned 0.72% Nb2O5 and 145 ppm Ta2O5 over 21.35 metres, starting just below overburden at 4.22 metres’ depth. The same hole also delivered 0.82% Nb2O5 over 21.89 metres starting at 58.9 metres.

The shallow intersections “indicate that strong mineralization extends to surface in the immediate area,” the company stated. “In terms of ground follow-up, there is a sizable corridor to the south of EC10-033 that has not been traversed and is therefore a high-priority area for assessment.”

Results from the program will help update the Southeast area’s geological model, which currently dates to 2010 despite an improved understanding of the Eldor complex. A partial photo re-log of the core, a revised rock classification scheme, geophysical results and other data will delineate future drill targets.

Reporting from Quebec’s James Bay region last month, Saville announced a new zinc-silver-nickel zone at surface on the company’s Covette property. Sampling took place along an area hosting strong magnetic anomalies and several EM conductors, with one sample grading 1.2% zinc and 68.7 g/t silver, and three others ranging from 0.13% to 0.19% nickel.

Also last month Saville closed an $877,700 first tranche of a private placement offered in July up to $2 million.

Read more about Saville Resources.

Commerce Resources’ rare earths metallurgy moves forward amid heightened supply concerns

August 20th, 2018

by Greg Klein | August 20, 2018

In an update on tests conducted by l’Université Laval, Commerce Resources TSXV:CCE reports another stage of progress with completion of crushing, grinding and large-scale flotation. About 1.5 tonnes of material were processed from the company’s Ashram deposit in northern Quebec, now moving towards pre-feasibility. With results meeting expectations, the project advances to a pilot-level hydrometallurgical component.

Commerce Resources’ rare earths metallurgy moves forward amid heightened concern for RE supply

Last month Commerce announced an important milestone in producing Ashram’s first concentrate of mixed rare earth oxides, showing the deposit’s amenability to different flowsheet approaches.

Laval’s next stage will use flotation concentrate to produce a purified solution containing rare earth elements, which will then be separated into light, medium and heavy rare earths. At the same time, the solution composition will be used to assess a solvent extraction separation pilot circuit using a software model simulator developed by the university. Results will allow further assessment of the economics of separating Ashram’s REEs into individual rare earth oxides.

Funding for the project comes through a $365,000 grant from Quebec’s ministère de l’Économie, de la Science et de l’Innovation.

As work continues, geopolitical developments bring increasing concern about rare earths supply. Trade hostilities between the U.S. and China have led to speculation about how the latter country, by far the world’s biggest rare earths producer, will use its resources as a weapon.

This year the U.S. included rare earths in a list of 35 minerals deemed essential to the country’s economy and defence, as part of a strategy to encourage production of critical minerals at home and among allied countries.

The list also includes tantalum and niobium, which Commerce has delineated at its advanced-stage Blue River project in east-central British Columbia. Back in Quebec, a few kilometres from Ashram, the company also holds an early-stage high-grade niobium project that’s conditionally subject to a 75% earn-in by Saville Resources TSXV:SRE.

Read more about Commerce Resources.

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.

Commerce Resources reaches key milestone with mixed rare earths concentrate from Quebec

July 24th, 2018

by Greg Klein | July 24, 2018

Ongoing metallurgical work at l’Université Laval has so far accomplished a number of goals while helping Commerce Resources’ (TSXV:CCE) Ashram deposit move towards pre-feasibility. Researchers found success in their primary task of validating new software for REE separation but met other goals as well.

Commerce Resources reaches key milestone with mixed rare earths concentrate from Quebec

“The rapid progress of this collaboration now includes the first-ever mixed rare earth oxide concentrate produced from Ashram deposit material,” said Commerce president Chris Grove. “This is a key milestone for the advancement of the project. This test work has demonstrated again the versatility of the Ashram deposit to be processed by a number of different flowsheet approaches.”

Laval’s team achieved bench scale production of mixed light rare earths oxide and mixed LRE/samarium, gadolinium and europium/heavy rare earths oxide.

Previous work produced over 45% rare earths oxide, among the highest-grade concentrates for RE development projects and comparing favourably with operating mines, Commerce reported. “This is a direct result of the simple rare earth and gangue mineralogy of the Ashram deposit…. This versatility in processing approaches lends itself to more cost-effective methods to be incorporated into the final flowsheet to achieve the same products and quality desired.”

Laval achieved recovery rates of 60% to 65% for several light rare earths, while modifications are anticipated to bring further improvement.

The work also validated the university’s software, as results closely matched the simulator’s predictions. Using another 1.5 tonnes of Ashram material, the lab team will conduct tests at the larger pilot scale level, comparing its results with those of the simulator and further assessing the economics of REE separation into individual rare earth oxides.

The software is intended to reduce processing delays and costs, as well as predict results for processing changes. The software might also determine process optimization that considers current REE prices.

The studies get financial support through a $365,000 grant from Quebec’s ministère de l’Économie, de la Science et de l’Innovation.

Last month Commerce reported positive results from advanced tailings optimization tests conducted by a branch of l’Université du Québec. Additional provincial funding supports that research. The company also received government support from a $1-million investment by Ressources Québec last year.

The Commerce portfolio also includes the advanced-stage Blue River tantalum-niobium project in British Columbia and, a few kilometres from Ashram, an early-stage high-grade niobium project that’s conditionally subject to a 75% earn-in by Saville Resources TSXV:SRE.

Read more about Commerce Resources.

Saville Resources closes Quebec nickel-copper-cobalt acquisition, files 43-101, readies summer program

June 26th, 2018

by Greg Klein | June 26, 2018

An undrilled property with encouraging geophysical results will undergo a summer field program, now that Saville Resources TSXV:SRE has finalized its acquisition of the James Bay-region Covette project. A 1,402-line VTEM survey from 2016 outlined at least six areas of high conductivity on the 3,315-hectare property, with one zone extending southeast about 4.5 kilometres and another trending northeast. Those areas “need to be evaluated,” stated a 43-101 technical report filed this month.

Saville Resources closes Quebec nickel-copper-cobalt acquisition, files 43-101, readies summer program

A pegmatite ridge on Saville Resources’ Covette
project, which now has Phase I field work planned.

Sampling conducted last year showed 0.18% nickel, 0.09% copper and 87 ppm cobalt, but the field program wasn’t sufficient to explain the source of the VTEM anomalies, which may indicate a source at depth, the company stated.

An historic, non-43-101 sample assayed 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver. Another brought 1.2 g/t silver and 0.18% copper.

A Phase I field program recommended by the technical report would include detailed mapping and sampling in areas of high-conductivity, channel sampling and further geophysics. The project sits about 10 kilometres north of the all-weather Trans-Taiga road and adjacent transmission line.

Meanwhile work continues on another Quebec acquisition as Saville prepares a 43-101 technical report on the Miranna claims, located on the Eldor property that hosts Commerce Resources’ (TSXV:CCE) advanced-stage rare earths deposit. In April the companies reported assays as high as 4.3% Nb2O5 and 700 ppm Ta2O5, results in line with previous high grades. Subject to exchange approval, Saville would acquire a 75% earn-in on Miranna.

Read more about Saville Resources.