Maiden resource for Metaliko

Monday, 23 February 2015
Kristie Batten

METALIKO Resources has announced a maiden resource for the Corboys deposit, one of the undeveloped deposits that could be processed through its Bronzewing plant.

Corboys has an indicated resource of 700,000 tonnes at 2.17 grams per tonne gold for 48,800 ounces of gold, at a 1.5gpt lower cut-off.

The resource sits from surface to around 50-70m depth and is open in most directions.

Intercepts not included in the maiden resource include 3m at 30.7gpt gold from 25m; 3m at 9.7gpt gold from 56m; and 17m at 3.36gpt gold from 61m.

Corboys sits around 40km north of the Bronzewing mill, acquired last year from the administrators of Navigator Resources.

Metaliko has renamed the project Yandal and its strategy is to increase the resources via the testing of brownfields targets which can be processed through the mill.

The Dragon-Venus mine target, around 30km south of Bronzewing, is a focus right now, with a JORC resource estimation underway.

“Accessing third party gold deposits within economic haulage distance could provide sufficient ore for an economic case to restart the Bronzewing mill,” Metaliko said.

Metaliko executive director Dr Michael Ruane acquired a major stake in nearby gold explorer Echo Resources late last year and unsuccessfully attempted to gain board control last week at a general meeting.

Echo’s Julius gold discovery in Western Australia’s Yandal gold belt is only 70km from Bronzewing.

Echo confirmed that Ruane had previously contacted the company with a written proposal for a joint venture at Bronzewing, which was rejected.

Shares in Metaliko fell 3.4% to A2.8c.

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Jack McGinnFriday, 13 February 2015 (

ACTIVEX has announced a maiden inferred mineral resource for its Barambah gold-silver deposit, located in the Esk Basin in southeast Queensland.


The project has a total inferred resource of 363,000 tonnes at 1.47 grams per tonne gold and 61.8gpt silver for a contained 17,200 ounces of gold and 722,000oz silver.

Of this, 237,000t are contained in oxide at 1.69gpt gold and 56.7gpt silver for 12,900oz gold and 433,000oz silver; while the primary resource measures 126,000t at 1.06gpt gold and 71.4gpt silver for 4300oz gold and 289,000oz silver.

The estimate is the result of 76 drill holes comprising of 29 reverse circulation holes, seven combined RC/diamond holes and 40 diamond drill holes for a total of 7658m.

Mineralisation is contained in a number of veins, with the heaviest ranging from 0.5-1.5m in width and outcropping over a 2km distance.

The vein has an average strike of 330 degrees and a variable steep dip greater than 75 degrees to the southwest or northeast.

ActivEX is currently investigating near-surface mineralised zones for potential open pits.

It will use an $A85,000 grant received under the Queensland government’s Collaborative Drilling Initiative in September last year to fund the drilling of four further diamond drill holes.

These holes are planned to measure a combined 1600m in length, and extend the drill testing of the mineralised zone by targeting a large geophysical anomaly identified through previous testing.

Shares in ActivEX were untraded today at 1.9c.

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THE S&P/ASX 200 has hit its highest point in nearly seven years after the Reserve Bank of Australia cut interest rates to a record low.

The index immediately jumped 33 points in the minute after the announcement and continued to climb though the afternoon, breaking through the 5700-point mark to close at 5707.4 points, an 82-point or 1.5% jump.

The RBA cut the cash rate by 25 basis points to 2.25%, following many other central banks around the world in recent months.

RBA Governor Glenn Stevens said Australian growth was continuing at a below-trend pace and while lower energy prices were likely to boost consumer spending, the declining terms of trade was reducing income growth.
He also noted the recent decline of the Australian dollar against the US dollar.

“It remains above most estimates of its fundamental value, particularly given the significant declines in key commodity prices,” he said.

“A lower exchange rate is likely to be needed to achieve balanced growth in the economy.”

The Aussie dollar, which had risen this morning back above US78c, plummeted after the announcement to a six-year low of 76.51c.

It was last trading at 76.6c.

Resources and energy stocks were the best performers on the market today, led by heavyweight BHP Billiton, which jumped 3.5% or $A1.05 to $30.65.

Fortescue Metals Group rose 2.6% to $2.37 while Rio Tinto gained 1.9% to $58.58.

Copper-gold producer PanAust was a standout, jumping 6.8% or 8c to $1.245, despite a drop in the copper price overnight.

At the junior end, Mark Creasy-backed explorer Windward Resources was the biggest mover, jumping 63.6% to 18c, backing up a 19% jump last Thursday.

The company announced that downhole surveys had identified a strong off-hole conductor at the Turcaud prospect at the Fraser Range North project.

More here >

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ACTIVEX has released a maiden inferred mineral resource for the Florence Bore north and south deposits within its Cloncurry copper and gold project in Queensland.

Florence Bore north contains an inferred 1.1 million tonnes of ore at 0.81% copper and 0.15 grams per tonne gold, for 9025 tonnes of copper and 5374 ounces of gold.

Inferred resources in the southern deposit came to 496,000t at 0.68% copper for 3373t and 0.14gpt gold for 2233oz.

The combined inferred resource for the two deposits consists of 1.61Mt at 0.77% copper and 0.15gpt gold, for 12,398 tonnes of contained copper and 7607oz gold, using a 0.5% copper cut-off.

The results are based on a program comprising 35 reverse circulation and three diamond drill holes for a total of 5408m and 2098 assay samples.

ActivEX said both deposits had further explorative potential through possible strike extensions and drilling of sub-audio magnetic conductor anomalies similar to those found within the current resource area.

The resource was purely inferred due to the nature of spacing between holes, the geological model, a lack of density data and the standard of grade continuity.

Both deposits are within the Florence Creek tenement at the project, 60km southwest of Cloncurry in north-west Queensland.Shares in ActivEX were untraded today at A1.5c.


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Florence Bore的初始推断矿产资源量报告

Florence_BoreOur latest exciting ASX release regarding Florence Bore is now available on our Investor page, or directly from here.

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Mining Australia takes us through mining’s highs and lows for 2014.

Wishing you a Merry Christmas from all the staff at ActivEX Limited , and raise our glasses to a prosperous  year in 2015!

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By Richard Wachman.

PRECIOUS metals cycle forecaster Bo Polny is always good value and his appearance at Mines and Money this year proved to be no exception. By Richard Wachman

He said gold was heading for $US2000/oz in 2015 “as we first encounter an inflationary spike (as early as January) and then a deflationary crash that will see a painful correction in equity markets”.

The yellow metal was a classic deflationary hedge on an equity correction, said Polny, using a slide show to illustrate how the cycle was about to turn. In theory, gold could go to $5000/oz in seven years and silver to $500/oz.

“What’s more, gold and silver, specifically silver, are trades of a lifetime right now.”

Polny explained how there was a 21-year cycle, a seven-year cycle, a 70-month sub-cycle, “take it back 250 years to 1764 and there are … immutable patterns, if you like, of cycles”. Make of that what you will, but the audience loved every moment of it.

And there were some lovely quotes such as: “I’m a cycle person, I don’t understand finance”. Or “cycles precede all technical and fundamental analysis”. Even the Bible was cited as saying, “what has been will be again … what has been done will be done again … there is nothing new under the sun”.

But how are we going to get to $2000/oz?

Said Polny: “Something’s coming, cycle [theory] says there is an event coming. Will it be a supply issue? People know how hard it is to get physical bullion … so something should, could and likely will happen. Gold is going to go vertical into 2015.”

Polny said: “I specialise in cycles. Cycles tell us that life is written and unchangeable.

Anyway … until a cycle is broken, you have to assume it to be real, because if you don’t assume it to be real, you are betting against a cycle and that’s akin to going to playing golf in a hurricane. I don’t care how hard you hit the ball it’s going to come back at you. You can’t bet against the cycle.”

That said, you could bet against Polny. But who would be so bold?

Richard Wachman is news editor of’s UK sister publication Mining Journal.

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By Anthony Barich

The numbers are in, revealing Queensland’s minerals and energy sector contributed an estimated $77.6 billion to the state’s economy in 2013-14 – and it turns out Brisbane is its biggest “mining town”.

The Queensland Resources Council’s state-wide analysis of resources sector spending announced this morning revealed that despite commodity market challenges, the sector continues to be responsible directly and indirectly for one in every four dollars in Queensland’s economy and one in every five jobs.

The 2013-14 analysis aggregated by postcode wages and salaries paid, goods and services bought, community contributions and local/state government taxes and royalties. The raw data is able to be assigned to geographical (region) and electoral (local government area) boundaries.
The report stated that minerals and energy companies spent $37.5 billion in Queensland, with the coal industry contributing 51%, oil and gas 36% and metals 13%.

“Every Queenslander – regardless of where they call home – has a vested interest in seeing our minerals and energy industries succeed and grow,” QRC CEO Michael Roche told its annual lunch in Brisbane today. The event was attended by Premier Campbell Newman and other political and industry leaders.

“Following the largest private sector investment phase in the nation’s history, what lies ahead for Queensland – if we are prepared to steer the course – is the promise of decades of prosperity driven by the modernisation of Asia.”
However, while “Asia wants what Queensland has to sell”, he warned that industry could not take this for granted.

“We must compete for every contract, innovate to stay globally competitive, earn the support of our governments, and of the people who elect them,” he said.

Roche believes the biggest takeaway from the analysis was that almost 17,000 Queensland businesses were paid for goods and services and that expenditure generated a total “value-add” in Queensland of $77.6 billion and 442,000 full-time employment positions.

“Since the first analysis in 2010, the most striking and consistent result has been the starring role of the Brisbane region as the biggest mining town in Queensland,” Roche said.

Brisbane recorded the highest direct expenditure of $17 billion and a total economic benefit of $37.8 billion in 2013-14.

That meant the resources sector contributed 26% to Brisbane’s gross regional product and supported almost 200,000 full-time equivalent positions, or around 18% of the total regional workforce, Roche said.

“This may come as a surprise to some in southeast Queensland, but the money trail can’t be denied with direct and indirect spending representing 26% of the Brisbane region’s gross regional product,” he said.

Minerals and energy companies with operations across the state paid $1.3 billion in wages to more than 9600 full-time employees residing in Brisbane. In addition, they bought $15.6 billion in goods and services from more than 6500 Brisbane companies. The Brisbane region’s direct spend of almost $17 billion was well ahead of the next highest in Fitzroy ($6.8 billion) and Mackay ($4.2 billion).

Independent economic analysis by Lawrence Consulting has calculated this direct and indirect spending supported more than 197,000 jobs in the Brisbane region.
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THE battered junior mining space could begin to recover after a tough 2014 financial year, according to Grant Thornton.

The 2014 Grant Thornton JUMEX Report found that two thirds of Australian junior mining and exploration companies were experiencing improved investor sentiment or expected to see an improvement in the 2015 financial year.

More HERE>

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Friday, January 03, 2014 by Proactive Investors

ActivEX (ASX: AIV) has received notice from the Foreign Investment Review Board that its proposed $200,000 acquisition of EPM 14079 from Newcrest Mining (ASX: NCM) is exempt from examination.

The Sale and Purchase Agreement for the permit, which includes the Coalstoun Lakesporphyry copper-gold project, has now been submitted to the Queensland Government Office of State Revenue for stamping.

It will then move to transfer of the title through the Department of Natural Resources and Mines.

Coalstoun Lakes, located 100 kilometres northwest of Gympie in south-east Queensland, is a porphyry copper-gold project with significant near surface supergene enrichment – open pit heap leach target.

The project covers 189.9 square kilometres between Gayndah and Biggenden and has been explored for porphyry copper style mineralisation since discovery in the 1970s.

Australian & China focused ASF Group (ASX: AFA) has a 42.75% interest in ActivEX.

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