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Articles by MEC Resources
Norwest cashed up in preparation for Lockyer Deep test
Norwest Energy has A$3M cash in the bank to help it lock in a rig for its 20% share of the highly anticipated Lockyer Deep-1 exploration well that is only 15kms north of Strike Resources’ huge West Erregulla gas discovery in Western Australia. Norwest said it was working with the operator and partner, Mineral Resources to secure a rig contract after locking in site access with the local landowner east of Dongara in WA.
Ounce to the tonne dirt for Rox/Venus at Youanmi
The Grace prospect is holding up as potentially a stand-alone discovery for JV partners, Rox Resources and Venus Metals, with assay results hot off the press of 8m going 37.25g/t, including a 4m zone grading 73.81g/t gold from 48m. Rox and Venus recently identified Grace at their Youanmi South project in the Goldfields, a prospect that literally sits right between the historically mined Youanmi pit and the mothballed mill.
Rox/Venus make spectacular gold drill hit at Youanmi
It’s raining gold for Rox Resources and Venus Metals at their Youanmi South project after the partners hit a spectacular 14 metre drill intersection going an ounce to the tonne gold from just 1m deep. The new drill hit also included 5m grading 77.03 grams per tonne gold and 3m grading an exceptional 123.66g/t gold.
Rox/Venus hits jackpot gold grades at Youanmi in WA
Youanmi gold project joint venture partners, Rox Resources and Venus Metals, have hit the ball out of the park with their latest RC drilling results, returning some stunning, near-surface intercepts – including 5 metres at an amazing 4 ounces to the tonne gold, right from surface, 1m at an extraordinary 591.89g/t gold from just 3m and 0.5m at a whopping 1058.49g/t, also from 3m.
More Youanmi gold for Rox/Venus
Rox Resources and Venus Metals’ Youanmi South prospect in Western Australia doesn’t look like being closed off anytime soon with more high-grade gold results continuing to roll off the drill bit, including 4 meters at 11.23 grams per tonne gold from 92 meters downhole. Other solid numbers at the Plant Zone prospect, including 8m grading 2.62g/t gold from 60m, continue to underline the prospectivity of the project.
Hylea shares skyrocket nearly 600%
Shares in West Perth-based Hylea Metals rose up to 592 per cent today, after the junior announced it acquired a 65 per cent stake in Paladin Energy’s Kayelekera uranium mine in Malawi.
Cool reaction to Altona acquisition
The market has reacted coolly to the announcement that Altona Mining will be bought by Canada-based Copper Mountain Mining in a scheme of arrangement. Altona’s share price finished at 14 cents today, up from 12 cents at the start of the day, with the acquisition valuing the company at $93 million, or 17 cents per share. Under the agreement, each Altona share will be exchanged for 0.0974 Copper Mountain shares. To read more, please Login or Register below
Venturex raise $4m to advance Sulphur Springs
Venturex Resources will raise $4 million through a share placement with funds to be used to advance the company’s Sulphur Springs copper-zinc project, 150km south east of Port Hedland. The company was oversubscribed for the placement, which entails the sale of 222 million shares at 0.18 cents per share, a 10 per cent discount on the closing price on Wednesday. Canaccaord Genuity and Euroz Secuties will act as joint lead managers for the placement. To read more, please Login or Register below
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