Drake Resources Steps Up Norwegian Copper, Zinc and Gold Programmes
Australian-listed mineral exploration specialist Drake Resources has announced promising progress in its central Norwegian projects involving the drilling for copper, zinc and gold.
It has concluded drilling with its joint venture partner Panoramic Resources at the Nordgruva Copper Zinc prospect. The single 456m drill hole targeted two significant, strong off-hole conductors identified from drilling and down hole EM 2013.
A visual log has identified lenses of disseminated sulphide mineralisation ranging from a few centimetres up to two metres wide at several locations throughout the 50m wide target zone. The company expects to reveal more by the end of July.
Drake also announced that drilling has commenced at Løkken, another JV with Panoramic Resources. The 900m diamond drill program will target five anomalies that could represent massive copper sulphides north south and west of the old Løkken copper mine. Results are expected in August.
A third in central Norway, the Seimana Gold Project, is at the halfway stage of drilling. The 1,500 metre programme is targeting seven significant gold anomalies which were brought to light from recent field studies.
Drake’s CEO Jason Stirbinskis, said: “Our field Geologists have noted significant widths of quartz veining and vein clusters in the RC drilling similar to surface mapping observations during our Q1 field programs, we eagerly look forward to assay results in late July.”
More information on all of Drake’s Norwegian projects can be found at: http://www.drakeresources.com.au/norway.html
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.