Exploring Mining Podcast: News from (NYSE American: SILV) (TSX: SIL) (NYSE: RIO) (NYSE: NEM) (NYSE: AGI) (ASX: LLO)
Point Roberts, WA and Delta, BC - February 19, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring #Mining #Podcast: News from (NYSE American: SILV) (TSX: SIL) (NYSE: RIO) (NYSE: NEM) (NYSE: AGI) (ASX: LLO)
SilverCrest Metals Inc. (NYSE American:SILV) (TSX:SIL) has announced a new discovery and additional drill results from the Babicanora Norte Vein of the Las Chispas Project in Sonora, Mexico. Results include a total of 216 holes, 65% of which are in-fill holes and 35% expansion holes. The discovery of the Babi Norte southeast faulted extension named "Area 200 zone" intercepted 2.0 metres grading 6,418 grams per tonne silver equivalent, making the Babi Norte Vein "the highest-grade vein currently known on the property." SilverCrest CEO N. Eric Fier commented:
"Since the high-grade discovery in January 2018 of the Babicanora Vein, Area 51 zone, the SilverCrest technical team has been systematically testing out its theory of "the Nature of Multiples" for the potential to discover parallel high-grade precious metal veins and zones similar to Area 51. With the high-grade discoveries of Las Chispas Vein, Area 118, in November 2019, and now the Babi Norte Vein, Area 200, this work has proven effective. Area 200, approximately 500 metres in strike length, is now considered the highest-grade discovery to date at Las Chispas and, combined with the remaining 1.5 kilometres strike length of the Vein, is the longest mineralized vein in the district, surpassing the Babicanora Vein. Area 200 is proximal to the Santa Rosa Decline, suggesting it could be easily accessed with minimal underground development. Congratulations to the SilverCrest team on another high-grade discovery and its ability to aggressively advance this for FS inclusion."
Rio Tinto Group (NYSE:RIO) has recently approved a $98 million investment in a new solar plant at the Koodaideri mine in the Pilbara, Australia. The plant is expected to supply power to the mine during peak solar power generation times and approximately 65 percent of the mine's average electricity demand. Chris Salisbury, Rio Tinto Iron Ore's chief executive, said:
"The construction of our first solar plant in the Pilbara is a significant milestone for the business and an important step in reducing our carbon footprint in the region.
"We are investigating additional renewable energy options in the Pilbara, as well as other opportunities to reduce emissions across our entire global portfolio, building on the 43 per cent reduction in absolute greenhouse gas emissions since 2008."
Newmont Corporation (NYSE:NEM) has approved investment in an Autonomous Haulage System (AHS) at its Boddington mine in Australia to improve safety and prolong the mine's life. Expected to be fully operational by 2021, this would make Boddington the first open pit gold mine with an autonomous haul truck fleet in the world. Newmont President and CEO Tom Palmer explained:
"Not only does Boddington continue to deliver strong performance, our investment in autonomous haul trucks will generate an internal rate of return greater than 35 percent with a more controlled and efficient haulage operation. We are also uniquely positioned in the gold sector to support effective implementation and operation of the fleet thanks to the technical capabilities and previous experience of leaders in our business. Simply put, Boddington will be a safer, more productive world-class gold mine in a top-tier jurisdiction."
Alamos Gold Inc. (NYSE:AGI) has reported its mineral reserves and resources for the year-ended 2019. Among the highlights are: "Island Gold's Mineral Reserves and Resources increased by a combined 921,000 ounces, net of mining depletion, Global Proven and Probable Mineral Reserves of 9.73 million ounces of gold, Global Measured and Indicated Mineral Resources of 7.04 million ounces of gold, Global Inferred Mineral Resources increased 10% to 5.98 million ounces of gold, and Global exploration budget of $36 million in 2020." John A. McCluskey, President and CEO, said:
"We had another tremendous year at Island Gold on all fronts with the asset continuing to evolve into a world class ore body. Over the past two years we have added more than two million ounces of Mineral Reserves and Resources, before mining depletion, with the deposit now approaching four million ounces in all categories. We see strong potential for this growth to continue with the deposit open laterally and down-plunge across multiple areas of focus."
Lion One Metals Limited (ASX:LLO) has announced high-grade gold assays part of its 100 percent-controlled Tuvatu alkaline gold project, Fiji, from recent surface sampling. Quinton Hennigh, technical advisor to Lion One, commented:
"Building a pipeline of new, high quality drill targets outside of the Tuvatu resource is one of our main objectives at Lion One. Once access was granted to our new Navilawa tenement, we began to explore. Over the past few months, we conducted BLEG sampling which indicated the entire northern half of the caldera is prospective. Now that we are opening up roads, we are able to see numerous mineralized exposures. These first surface sample results are very promising, and, coupled with recently announced results from our controlled-source audio-magnetotelluric surveys that show robust structures underlying the region, suggest we should have a large pipeline of drill targets in time for the upcoming dry season."
Lion One Metals stock is up about 7.6 percent at press time.
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