Cornish Lithium starts second drilling at Trelavour
Cornish Lithium has started its second drilling campaign at its Trelavour hard rock lithium project near St Austell.
Two drill rigs are expected to be on site for eight to ten weeks with almost 1,500 metres of diamond and 2,500 metres of ‘reverse circulation’ drilling planned. This drilling programme will contribute towards Cornish Lithium’s first reportable mineral resource at Trelavour, which will be overseen by mining consultants, Mining Plus.
Jeremy Wrathall, Founder and CEO of Cornish Lithium, said the detailed drilling programme will provide further data regarding the lithium in hard rock resource discovered last year and will help it shape thinking as to how lithium from hard rock will ultimately be extracted.
In December, it announced that it would accelerate the development of Trelavour following the successful production of battery-grade lithium hydroxide from lithium mica samples obtained during its first drilling programme earlier in 2020.
"We are now looking forward to this second drilling campaign and producing our maiden mineral resource from Trelavour," he said.
"In parallel, we continue to advance our project to extract lithium contained within geothermal waters. We have recently begun work on the UK Government-funded pilot lithium extraction plant at the United Downs Deep Geothermal Project which will enable us to trial a number of Direct Lithium Extraction technologies. In addition, we are actively identifying new prospects and potential drill sites, allowing us to significantly increase our understanding of this resource."
In December 2020, Cornish Lithium announced it had acquired a technology licence from Australian listed company Lepidico, which provides Cornish Lithium with an innovative and environmentally-responsible metallurgical processing solution for lithium extraction at the Trelavour project.
Using this technology, the company - which raised more than £5.2 million in crowdfunding last October - is now progressing towards bulk metallurgical testing and the construction of a pilot plant using Lepidico’s proprietary L-Max and LOH-Max technologies.
The Trelavour project is located within an existing china clay pit and its development is expected to benefit from existing mining infrastructure in the region and create new jobs.
Lithium is essential for all existing and near-term commercial EV battery technologies and considered the gateway element to a zero-carbon future.
Newmont acquires Canada’s GT Gold in $325mn deal
Newmont, the world’s biggest gold miner, has acquired Canada’s GT Gold in a deal worth $325mn. The gold giant now controls the Tatogga gold-copper project in the Traditional Territory of the Tahltan Nation.
“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” commented Newmont President and CEO Tom Palmer.
“We look forward to continuing to build a respectful and meaningful relationship with the Tahltan Nation, including the community of Iskut. The relationships we have with Indigenous communities, First Nations and host communities are critical to the way we operate. We will partner with the Tahltan Nation at all levels, and with the Government of British Columbia to ensure a shared path forward as the Company understands and acknowledges that Tahltan consent is necessary for advancing the Tatogga project.”
Newmont’s acquisition includes the Tatogga project, comprised primarily of the Saddle North deposit, which has the potential to contribute future significant gold and copper annual production. There are also further exploration opportunities beyond the known deposits at Saddle North within the land package. The Tatogga project adds to Newmont’s existing interest in the prospective Golden Triangle through the company’s 50% ownership in the Galore Creek project.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. A world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa. The American miner is celebrating its 100th anniversary this month.
With gold prices on the rise, the last six months has seen gold industry M&A activity accelerating. A recent Mckinsey report, advises that the industry need to be mindful of mistakes made during the previous gold price boom, when growth was chased unidirectionally by several companies.