Atalaya Mining provides exploration update on its projects in Spain

Atalaya Mining Plc has provided an update on the ongoing exploration programme at its projects in southern Spain which include Proyecto Masa Valverde (PMV), Proyecto Ossa Morena (POM) and Proyecto Riotinto East (PRE). A total of four rigs are currently active, with three at PMV and one at POM.

Highlights

Mojarra Trend at PMV:
Masa Valverde deposit at PMV:
Campanario Trend at PMV:
Campanario Trend at PMV:
 Hinchona Cu-Au prospect at POM:

Alberto Lavandeira, CEO, commented:

“The discovery of the Mojarra Trend is very promising and demonstrates the value of the systematic exploration approach being implemented by our geological team.

We acquired PMV in 2020, having discovered the small but high-grade polymetallic Majadales deposit, and in April 2022 announced a new NI 43-101 compliance resource estimate for the Masa Valverde and Majadales deposits. Since then we have defined new, shallow and potentially economic mineralisation at the Campanario Trend and have now made a potentially new discovery at the previously undrilled Mojarra Trend.

All of these achievements, together with the numerous geophysical targets that remain untested, confirm our belief that the ultimate resource potential of PMV is under-explored and far from defined.

At POM, the encouraging initial results at Hinchona provide confidence that further drilling is warranted, with a focus on finding new zones of economic mineralisation and also increasing the currently defined resources at the flagship Alconchel Cu-Au deposit.

Exploration will remain a key activity for Atalaya in 2023 and our exploration budget is expected to reflect our geological team’s recent successes and the growing list of targets across our exploration portfolio. We remain focused on expanding our resource base and identifying higher grade material that could be processed at our Riotinto plant, potentially providing an uplift to copper production by increasing the blended head grade”, Global Mining Review reports.

Spain has the biggest goldmine in Europe

In a small town in Asturias, on the shores of the Cantabrian Sea, experts believe there’s as much as 300,000 kilograms of untapped gold underground.

Spain is world famous for certain products. For its fruit and vegetables, its wines, its olive oil, its jamón. But few know that Spain also has an abundance of a much more precious and valuable material: gold.

In Asturias alone experts estimate there are as many as 480 gold deposits in the region. But the biggest goldmine – and by far the most controversial – is that of Salave in the municipality of Tapia de Casariego, where studies have revealed that there could be as much as 300,000 kilograms (or 300 tonnes) of untapped gold deposits underground.

In the last century or so, attempts have been made to mine the gold but very few have been successful. Many mining companies – the Asturias region is a traditional mining zone – have carried out studies and surveys in the area but did not, or could not, go ahead and take advantage of Asturias’ natural goldmine.

Why not?

Not for lack of trying, or because they didn’t want to, but because mining it would have serious environmental consequences on the area, and the battle between environmentally conscious residents and gold hunting miners has made Salave a point of contention in the community.

Many of the residents of the Tapia de Casariego are afraid that the natural deterioration born from a big mining project would worsen their quality of life. Others fear being pushed out of their homes.

Yet, knowing of the huge gold reserves underground, mining companies seem keen to press ahead with extraction anyway. A legal and environmental battle has rumbled on for many years now.

Back in 2010 AsturGold proposed a mining project but in December 2014 the Asturias regional executive voted the plan.

Three years later, in 2017, the Asturias High Court backed the veto and the environmental groups and mining companies came to a stalemate.

That’s not to say that miners aren’t still hoping to be able to take advantage of Asturias’ resource rich land in the future, however. “We hope to start producing gold at the Tapia mine in three years,” José Manuel Domínguez, Director of Exploraciones Mineras del Cantábrico(EMC), and a campaigner for the Salave gold mine, explained in the Spanish press. “There will be a mine, I’m convinced.”

The latest proposed EMC mining project aims to extract around 31,000 kilos of gold over 14 years, but has already received 1,297 environmental complaints, which are under review. The proposal, under study currently, hopes to start producing gold by as soon as 2025.

The 31,000 kilos of gold would be worth around €1.5 billion, and mining provides hundreds of jobs in Asturias and the Lugo province. The proposed EMC project alone could create 250 jobs in the area, and as many as 1000 indirect jobs.

Controversy

Locals are fiercely opposed to the plan, however. In April hundreds of people gathered in Tapia de Casariego to protest against the proposed extraction project.

Environmental group Oro No (No to gold) is collaborating with tourist associations, community organisations, fishing groups and farming cooperatives to oppose the plans, and calling on local government to intervene.

Protesters have expressed concerns about the impacts that a mining operation would have on their way of life, the environment, and the traditional economic activities of the area.

Roman history

The mining potential of Salave is no new discovery, however. It was first discovered by the Romans in the 1st century and has barely been touched since, hence why it is now considered one of – if not – the largest untapped goldmines in Europe.

Historians believe that during the Roman era, as much as 7,000 kilograms of gold were extracted using an ingenious extraction method called ruina montium, a water-based system that blasted structures apart.

Historians are unsure why the Romans eventually abandoned their extraction project at Salave, but the hundreds of thousands of kilograms of gold left behind remain largely untouched and very controversial to this day, The Local writes.

Spain has the biggest goldmine in Europe

In a small town in Asturias, on the shores of the Cantabrian Sea, experts believe there’s as much as 300,000 kilograms of untapped gold underground.

Spain is world famous for certain products. For its fruit and vegetables, its wines, its olive oil, its jamón. But few know that Spain also has an abundance of a much more precious and valuable material: gold.

In Asturias alone experts estimate there are as many as 480 gold deposits in the region. But the biggest goldmine – and by far the most controversial – is that of Salave in the municipality of Tapia de Casariego, where studies have revealed that there could be as much as 300,000 kilograms (or 300 tonnes) of untapped gold deposits underground.

In the last century or so, attempts have been made to mine the gold but very few have been successful. Many mining companies – the Asturias region is a traditional mining zone – have carried out studies and surveys in the area but did not, or could not, go ahead and take advantage of Asturias’ natural goldmine.

Why not?

Not for lack of trying, or because they didn’t want to, but because mining it would have serious environmental consequences on the area, and the battle between environmentally conscious residents and gold hunting miners has made Salave a point of contention in the community.

Many of the residents of the Tapia de Casariego are afraid that the natural deterioration born from a big mining project would worsen their quality of life. Others fear being pushed out of their homes.

Yet, knowing of the huge gold reserves underground, mining companies seem keen to press ahead with extraction anyway. A legal and environmental battle has rumbled on for many years now.

Back in 2010 AsturGold proposed a mining project but in December 2014 the Asturias regional executive voted the plan.

Three years later, in 2017, the Asturias High Court backed the veto and the environmental groups and mining companies came to a stalemate.

That’s not to say that miners aren’t still hoping to be able to take advantage of Asturias’ resource rich land in the future, however. “We hope to start producing gold at the Tapia mine in three years,” José Manuel Domínguez, Director of Exploraciones Mineras del Cantábrico (EMC), and a campaigner for the Salave gold mine, explained in the Spanish press. “There will be a mine, I’m convinced.”

The latest proposed EMC mining project aims to extract around 31,000 kilos of gold over 14 years, but has already received 1,297 environmental complaints, which are under review. The proposal, under study currently, hopes to start producing gold by as soon as 2025.

The 31,000 kilos of gold would be worth around €1.5 billion, and mining provides hundreds of jobs in Asturias and the Lugo province. The proposed EMC project alone could create 250 jobs in the area, and as many as 1000 indirect jobs.

Controversy

Locals are fiercely opposed to the plan, however. In April hundreds of people gathered in Tapia de Casariego to protest against the proposed extraction project.

Environmental group Oro No (No to gold) is collaborating with tourist associations, community organisations, fishing groups and farming cooperatives to oppose the plans, and calling on local government to intervene.

Protesters have expressed concerns about the impacts that a mining operation would have on their way of life, the environment, and the traditional economic activities of the area.

The mining potential of Salave is no new discovery, however. It was first discovered by the Romans in the 1st century and has barely been touched since, hence why it is now considered one of – if not – the largest untapped goldmines in Europe.

Historians believe that during the Roman era, as much as 7,000 kilograms of gold were extracted using an ingenious extraction method called ruina montium, a water-based system that blasted structures apart.

Historians are unsure why the Romans eventually abandoned their extraction project at Salave, but the hundreds of thousands of kilograms of gold left behind remain largely untouched and very controversial to this day, Local writes.

Highfield Resources Ltd has released an updated ore reserve estimate for its flagship Muga-Vipasca Potash Project

The company is progressing rapidly towards construction at its flagship project in Spain, which will be one of the highest-margin potash mines in the world.

Highfield Resources Ltd (ASX:HFR) has released an updated ore reserve estimate for its flagship Muga-Vipasca Potash Project, encompassing a new life of mine plan ahead of construction.

Muga-Vipasca now sits at 104.3 million tonnes at a mean grade of 10.2% potassium oxide, comprising a proved reserve of 45.3 million tonnes at 10.5% and a probable reserve of 58.9 million tonnes at 10.0%.

The latest estimate reflects additional drilling completed at Vipasca, a new life of mine plan and conditions agreed to under the environmental permit and the mining concession.

Muga contains a measured and indicated mineral resource of 237.3 million tonnes at 12% potassium oxide.

Construction imminent

Highfield CEO Ignacio Salazar said the update was the final step ahead of construction.

“As we approach the start of construction at Muga, we are delighted to announce an up-to-date mine plan and the results of the review of our ore reserve estimate,” he said.

“With this work, we have advanced our understanding of the mineralisation and the mine plan of the project to the point we can start construction.

“With this result, we reconfirmed the significant mining and geological characteristics of Muga.”

“Together with IGAN, a Spanish mining consultant company, we recently completed a detailed mine plan for the project with revised production and backfilling schedules.

“The mine plan provides detailed design of access development to the production zones where the shallow dipping seams, which cover most of the initial years of production, will be mined.

Muga potential

Highfield says the low-cost Muga is a unique project, with decline-accessible shallow potash mineralisation without overlying aquifers.

It is in the heart of a European agricultural region which has a clear demand for potash supply to meet future requirements.

It is estimated that the Muga project at full production will create approximately 800 jobs in administration, operations, logistics mining and support services, with the surface facilities to occupy about 200 hectares.

Foster Stockbroking rates Highfield as a buy with a price target of A$1.56 – well above its current trading price of A$0.545 – thanks to the potential at Muga.

Source: proactiveinvestors.co.uk

Zinc junior making headway in Spain

Variscan Mines’ underground drilling within the historical San Jose mine in Spain has confirmed the discovery of multiple stacked lenses of high-grade zinc mineralisation in the South West Zone and Los Caracoles Trend, separate from previously reported results

Assays from the SW Zone has defined new, laterally extensive, high-grade mineralised lenses above and below the main gallery level, with assays such as 13m at 5.5% zinc, including 4m at 12%; 11m at 3.2% and 17m at 2.1%.
The SW Zone remains open to the south with significant potential for further extensions. “Unsophisticated” mining in the area ended in the late 1990s, and there has been no exploration since.
Along the Los Caracoles Trend, the lenses were intercepted below the main gallery level, with hits such as 7m at 6.4% zinc, including 3m at 9.1%, extending the known mineralisation by a further 180m.
Managing director Stewart Dickson said the results confirmed the merits of further infill drilling targeting the underlying gallery levels.
“The discovery of new high-grade mineralised lenses above and below the main gallery in two distinct areas of the mine strongly suggest there is considerable scale and tonnage potential,” he said.
The company believes the mine is a multi-layered deposit, consistent with Mississippi Valley-type sulphide orebodies.
Further drilling is planned later this month.
The company acquired the Novales-Udias project some 12 months ago, and claims it is one of the best advanced zinc-lead prospects in the world, and may be the twin brother to Spain’s largest known zinc-lead deposit at Reocin, just 10km away. Reocin was one of the world’s richest deposit deposits before its closure in 2003.
San Jose produced in the 1970s and 1980s at a 7-9% head-grade, closing when zinc was priced at US$1300 per tonne, around one-third of where it is today.
It is the first company to drill San Jose in 30 years.
Variscan shares jumped 8% today to A7c, valuing the company at $17 million.
The stock has traded between 2.3-15c over the past year. It recently completed an oversubscribed $4.25 million placement at 8c.
Source: Mining Journal

Escacena project poised to become Spain’s next ‘major copper project’

All sectors of the economy in Spain suffered last March when the Spanish government ordered a lockdown as COVID-19 cases soared. While some mining operations were deemed essential, the difficulties in keeping workers safe and other challenges forced companies like Atalaya Mining and Almonty Industries to temporarily shut down.

Despite the problems posed by the pandemic, one Canadian junior mining company met the challenge in Spain and, as a result, has positioned itself to explore and develop one of the few new copper discoveries on the planet. Now it’s poised to discover if it really is in Elephant Country, the land where big deposits merge into monster mining projects.

Vancouver-based Pan Global Resources Inc. found ways to continue an aggressive exploration and drilling program throughout the COVID-19 pandemic at their Escacena project by adopting strict measures and protocols to ensure the health and safety of their team. The company didn’t lose any operational days ­– a point of pride for Jim Royall, Vice President, Exploration.

“We observed social distancing and masking and those who could work from home did. We also kept our bubbles as tight as possible,” says Royall.

“We haven’t lost a single day and we’ve had zero infections, which is fantastic and a credit to the team.”

Escacena’s expanding La Romana target hitting copper in every hole

 

As a result, Pan Global’s drilling program at Escacena in the heart of Spain’s Iberian Pyrite Belt–one of the most important volcanogenic massive sulphide districts in the world—has been able to find high copper grades near to the surface, making it an excellent target for open pit mining. With each new test result from the La Romana target, the potential size of the mining operation, like the universe, just keeps expanding.

“We’re hitting copper with every hole and the system is expanding with every drill hole,” says President and CEO, Tim Moody.

“We’re starting to show La Romana has real significant size potential as well as the potential to find additional discoveries and that’s another strong feature of the project.”

The Escacena project’s 2020 exploration program results highlight the growing size potential of the La Romana target. With only one target tested and every drill hole hitting copper, the geophysics show the deposit is open in all directions. It’s shaping up to be a major deposit, comparable in size to some of the region’s biggest ore bodies.

By the end of 2020, some 28 drill holes were completed at the La Romana target. To the east, results showed the near surface copper mineralization is expanding and could add significantly to the size for a potential open pit. To the northeast, several consecutive drill holes intersected exceptionally high-grade massive chalcopyrite within a broader zone of copper mineralization.

Selected recent highlights include hole LRD20 with 26.5 m at 1.29 per cent CuEq from just 18.5 m down hole depth in the far west. Hole LRD25 has 67.5 m at 0.54 per cent CuEq from 0.5 m depth extending the near surface copper to the east. Hole LRD22 shows 18 m at 1.0 per cent CuEq from 259 m down hole depth, including six metres at 2.44 per cent CuEq and grades up to 18.7 per cent CuEq in the far northeast.

“The results have continued to show significant near-surface mineralization as well as some deeper, very high-grade sections. It was a very successful program and we’ve planned another 20-hole drill program this year, which we’re well into at the moment,” says Moody.

Because only a small portion of the potential target has been tested, the 2021 drill program will seek to expand the copper mineralization in all directions and further test the geophysics targets with a mixture of pattern drilling and larger step out holes. The initial 20-hole drill program is expected to be substantially expanded and is fully funded.

In May, the company announced its latest drill results, which came from four new holes (LRD38, LRD39, LRD40 and LRD42) at the La Romana target. Of particular interest is hole LRD40, which showed a significant thick zone of copper mineralization approximately 50 m east and along strike from hole LRD39.

The results also confirmed a high-grade supergene-enriched chalcocite zone at the top of the copper interval. Other significant results include 52.6 m at 1.00 per cent CuEq (0.76 per cent Cu, 0.05 per cent Sn, 3.8 g/t Ag) from 42.4 m down hole.

Expanding their mining area puts Pan Global in good company in Elephant Country

 

While Pan Global continues to put in the work to determine if it has a monster on its hands, the company is encouraged by the fact they’re surrounded by a herd of elephant-sized mining operations.

The La Romana discovery is surrounded by other large mines like the giant Corta Atalaya mine 23 km to the northwest, the Las Cruces mine about 15 km to the east and the Aznalcollar-Los Frailes project where Grupo Mexico is hoping to restart mining. The area also has excellent infrastructure.

Having so many productive neighbours gives Pan Global options. A discovery in the Escacena project area has the potential to either provide feed to one of the other nearby mining centers or to become a stand-alone mine.

Those options are being weighed by management, but their priority now is to see how big the La Romana deposit is while hoping to make a new discovery once exploration commences on other targets in the project area.

“It’s nice to have those options, but our focus is on getting a better idea of the size of the deposit and the distribution of the mineralization before trying to think too much about the economics,” says Royall.

“It just makes sense that before you go with an option, raise money or go into operation, you should have a good idea of what you’ve got on your hands.”

Tin levels and the advent of Al Andalus coming online heighten anticipation

 

That’s exactly what Eric Coffin, President of Hard Rock Analysts Advisors, thinks Pan Global should be doing. The respected mining industry analyst says the company has more work to do, but it’s getting the right results in the right region.

“The Iberian Pyrite Belt is elephant country—this is the Land of the Giants,” says Coffin.

“Pan Global is reporting numerous drill holes that are 20 to 30 m in depth at good grades, so there’s definitely going to be an open pit component there in the future and those kinds of grades will create revenue. I think it’s a case of onward and upward and this thing’s just going to keep getting bigger.”

Another thing Coffin and Pan Global will be looking for is the amount of tin in future drilling results. Significant levels of tin are turning up at La Romana in addition to copper. While tin in and of itself is valuable — with a looming shortage, the price of tin hit a 10-year high of USD$ 28,000 per tonne in February—it’s also indicative of rich mineralization in the Iberian Pyrite Belt.

“It’s not completely understood why, but the largest deposits in the belt all have tin in them. So, the fact they’re hitting tin is a good sign in terms of their potential scale,” notes Coffin.

Coffin says he’d be surprised if Pan Global’s progress isn’t on the radar of several big metal majors. He believes they’re not only monitoring results at La Romana but waiting to see what happens once the company starts exploring its neighbouring Al Andalus area, which is in the permitting stage.

“Al Andalus is the big one. Once they get that granted, they’ll be looking to see if there’s supergene mineralization, so that could be a pleasant surprise,” says Coffin.

Both Moody and Royall are eager to start work on the Al Andalus area once permits are issued to potentially add yet another copper discovery to their portfolio.

Escacena project expansion key to Pan Global’s plans

 

The program to establish La Romana’s size will likely see the Phase 4, 20-hole drill program that started in January double in size to a 40-hole drill program and total around 10,000 m as the company looks to expand the copper mineralization in all directions.

Once completed, Pan Global will have a clearer picture of the size potential and could begin planning for resource delineation while also getting a start on some of its other targets.

“I’m confident the results will expand the project in several directions and then we’ll be in a much better position than to start looking at look at potential mining scenarios,” says Moody.

Pan Global enters a pivotal year at full throttle

 

All that activity has Pan Global entering 2021 at full throttle and anticipating a potentially pivotal year where an early exploration project progresses into a more advanced and significant copper discovery at La Romana.

Moody says investors should keep an eye on the numbers coming out of the drilling program and is hopeful that exploration at Al Andalus will see the company make its next discovery before the end of the year.

“There are going to be many new results to look forward to and the other key thing for us will be the granting of the Al Andalus area, where we’ve got a very good chance of making another discovery,” he notes.

An ambitious drilling program and other exploration work is not the only factor that will keep Royall busy this year. There’s also the incentive of a strong market for copper and good local support for new copper discoveries. The company has already begun to increase the size of the team on the ground. And, backed with an increased private placement financing of $13 million (previously announced at $10 million) due to strong demand, Pan Global’s future is looking promising.

After all, when you’re looking for monsters, you need all the help you can get.

“The Iberian Pyrite Belt is one of the oldest mining districts in the world. Mining has been in semi-continuous operation for the last 5,000 years. That’s the district around us, so you know we’re definitely in Elephant Country,” says Royall.

Source: bnnbloomberg.ca

 

 

Pan Global Resources’ project Escacena next major copper project in Spain

Vancouver-based Pan Global Resources Inc. found ways to continue an aggressive exploration and drilling program throughout the COVID-19 pandemic at their Escacena project by adopting strict measures and protocols to ensure the health and safety of their team. The company didn’t lose any operational days ­– a point of pride for Jim Royall, Vice President, Exploration.

“We observed social distancing and masking and those who could work from home did. We also kept our bubbles as tight as possible,” says Royall.

“We haven’t lost a single day and we’ve had zero infections, which is fantastic and a credit to the team.”

Escacena’s expanding La Romana target hitting copper in every hole

 

As a result, Pan Global’s drilling program at Escacena in the heart of Spain’s Iberian Pyrite Belt–one of the most important volcanogenic massive sulphide districts in the world—has been able to find high copper grades near to the surface, making it an excellent target for open pit mining. With each new test result from the La Romana target, the potential size of the mining operation, like the universe, just keeps expanding.

“We’re hitting copper with every hole and the system is expanding with every drill hole,” says President and CEO, Tim Moody.

“We’re starting to show La Romana has real significant size potential as well as the potential to find additional discoveries and that’s another strong feature of the project.”

The Escacena project’s 2020 exploration program results highlight the growing size potential of the La Romana target. With only one target tested and every drill hole hitting copper, the geophysics show the deposit is open in all directions. It’s shaping up to be a major deposit, comparable in size to some of the region’s biggest ore bodies. By the end of 2020, some 28 drill holes were completed at the La Romana target. To the east, results showed the near surface copper mineralization is expanding and could add significantly to the size for a potential open pit. To the northeast, several consecutive drill holes intersected exceptionally high-grade massive chalcopyrite within a broader zone of copper mineralization.

Selected recent highlights include hole LRD20 with 26.5 m at 1.29 per cent CuEq from just 18.5 m down hole depth in the far west. Hole LRD25 has 67.5 m at 0.54 per cent CuEq from 0.5 m depth extending the near surface copper to the east. Hole LRD22 shows 18 m at 1.0 per cent CuEq from 259 m down hole depth, including six metres at 2.44 per cent CuEq and grades up to 18.7 per cent CuEq in the far northeast.

“The results have continued to show significant near-surface mineralization as well as some deeper, very high-grade sections. It was a very successful program and we’ve planned another 20-hole drill program this year, which we’re well into at the moment,” says Moody.

Because only a small portion of the potential target has been tested, the 2021 drill program will seek to expand the copper mineralization in all directions and further test the geophysics targets with a mixture of pattern drilling and larger step out holes. The initial 20-hole drill program is expected to be substantially expanded and is fully funded.

In May, the company announced its latest drill results, which came from four new holes (LRD38, LRD39, LRD40 and LRD42) at the La Romana target. Of particular interest is hole LRD40, which showed a significant thick zone of copper mineralization approximately 50 m east and along strike from hole LRD39. The results also confirmed a high-grade supergene-enriched chalcocite zone at the top of the copper interval. Other significant results include 52.6 m at 1.00 per cent CuEq (0.76 per cent Cu, 0.05 per cent Sn, 3.8 g/t Ag) from 42.4 m down hole.

Expanding their mining area puts Pan Global in good company in Elephant Country

 

While Pan Global continues to put in the work to determine if it has a monster on its hands, the company is encouraged by the fact they’re surrounded by a herd of elephant-sized mining operations.   The La Romana discovery is surrounded by other large mines like the giant Corta Atalaya mine 23 km to the northwest, the Las Cruces mine about 15 km to the east and the Aznalcollar-Los Frailes project where Grupo Mexico is hoping to restart mining. The area also has excellent infrastructure. Having so many productive neighbours gives Pan Global options. A discovery in the Escacena project area has the potential to either provide feed to one of the other nearby mining centers or to become a stand-alone mine. Those options are being weighed by management, but their priority now is to see how big the La Romana deposit is while hoping to make a new discovery once exploration commences on other targets in the project area.

“It’s nice to have those options, but our focus is on getting a better idea of the size of the deposit and the distribution of the mineralization before trying to think too much about the economics,” says Royall.

“It just makes sense that before you go with an option, raise money or go into operation, you should have a good idea of what you’ve got on your hands.”

Tin levels and the advent of Al Andalus coming online heighten anticipation

 

That’s exactly what Eric Coffin, President of Hard Rock Analysts Advisors, thinks Pan Global should be doing. The respected mining industry analyst says the company has more work to do, but it’s getting the right results in the right region.

“The Iberian Pyrite Belt is elephant country—this is the Land of the Giants,” says Coffin.

“Pan Global is reporting numerous drill holes that are 20 to 30 m in depth at good grades, so there’s definitely going to be an open pit component there in the future and those kinds of grades will create revenue. I think it’s a case of onward and upward and this thing’s just going to keep getting bigger.”

Another thing Coffin and Pan Global will be looking for is the amount of tin in future drilling results. Significant levels of tin are turning up at La Romana in addition to copper. While tin in and of itself is valuable — with a looming shortage, the price of tin hit a 10-year high of USD$ 28,000 per tonne in February—it’s also indicative of rich mineralization in the Iberian Pyrite Belt.

“It’s not completely understood why, but the largest deposits in the belt all have tin in them. So, the fact they’re hitting tin is a good sign in terms of their potential scale,” notes Coffin.

Coffin says he’d be surprised if Pan Global’s progress isn’t on the radar of several big metal majors. He believes they’re not only monitoring results at La Romana but waiting to see what happens once the company starts exploring its neighbouring Al Andalus area, which is in the permitting stage.

“Al Andalus is the big one. Once they get that granted, they’ll be looking to see if there’s supergene mineralization, so that could be a pleasant surprise,” says Coffin.

Both Moody and Royall are eager to start work on the Al Andalus area once permits are issued to potentially add yet another copper discovery to their portfolio.

Escacena project expansion key to Pan Global’s plans

 

The program to establish La Romana’s size will likely see the Phase 4, 20-hole drill program that started in January double in size to a 40-hole drill program and total around 10,000 m as the company looks to expand the copper mineralization in all directions.

Once completed, Pan Global will have a clearer picture of the size potential and could begin planning for resource delineation while also getting a start on some of its other targets.

“I’m confident the results will expand the project in several directions and then we’ll be in a much better position than to start looking at look at potential mining scenarios,” says Moody.

Source: bnnbloomberg.ca

 

 

Highfield Resources’ mining concession process at Muga Potash Project in Spain

Engineering and construction update

Highfield Resources’ flagship Muga Project is targeting relatively shallow sylvinite beds, across around 60 square kilometres in the Provinces of Navarra and Aragón. Mining is planned to commence at a depth of about 350 metres from surface and is therefore ideal for a relatively low-cost conventional mine. During the quarter, Highfield prepared a HAZOP (hazard and operability analysis) report which covers the operational risk assessment and performance stress tests of the final designs.

Highfield plans to finalise these analyses while the project is pending the grant of the Mining Concession.

As soon as the concession is granted, the company plans to share the information with its construction partner, Acciona, and progress with the negotiation of the construction agreement and the project implementation.

Highfield Resources is making progress in finalising the review of restoration and remediation plans at its Muga Potash Project in Spain and “looks forward to a swift conclusion of the Mining Concession process”, according to CEO Ignacio Salazar.

Since the end of the March quarter, the thorough review by various government entities has progressed satisfactorily for the Muga project.

The Ebro Water Agency and the two environmental departments of Madrid and Navarra have submitted positive reports to the Mining Authorities. An emergency plan for Muga has also been approved by the Navarra Emergency Services Department. Highfield is now awaiting the environmental department of Aragón to finalise its report, which the company understands is close to completion.

Clear path forward

Chief executive officer Ignacio Salazar said: “The final fifth section of the mining concession review has needed extra effort as it required several other government entities to be consulted on the restoration, emergency and water plans.

“Credit to the team and the administrations that, despite the number of parties involved, this part of the process is close to being resolved.

“We very much appreciate the recent public shows of support for the Muga Project by the President of Navarra in a recent meeting with Highfield management and in her recent visit to the mine area.

“We also very much welcomed the publication by the Government of Navarra of the Social Baseline Study.

“With the path to finalise the review of the restoration and remediation plans clear, we look forward to a swift conclusion of the Mining Concession process for the Muga Project.”

Next steps

Additionally, the company has been advised that the mining authorities have finalised their review of those queries raised during the public exposition carried out in August 2020. The public exposition related exclusively to the restoration plan that is also part of the scope of section 5. No material issues have been raised by the Mining Authorities as a result of these reviews.

Highfield has been advised that once the report from the environmental department of Aragón is received and if no further clarification is required by the Authorities, the next step is to send the text of the mining concession document to the Central Government’s lawyers for its final legal review prior to the mining concession award being issued.

Sales and marketing update

Highfield has already signed non-binding MOUs representing more than its full phase-1 production capacity for potash and salt. During the quarter, the company continued to engage with traders, potential offtake partners and logistics partners which are interested in a more strategic participation in the project.

Muga Project financing

As part of its debt financing strategy, Highfield continued to work closely with Endeavour Financial to identify potential lenders, as well as preparing for the engagement with lenders and the due diligence that will take place following award of the Mining Concession. The company also continues to engage with key brokers and strategic partners as it prepares to secure the equity portion of the financing at some stage after the receipt of the mining concession.

Source: proactiveinvestors.com.au

 

Mineworx has been granted approval for Cehegin iron ore concessions program in Spain

All departments within the Mining Office of Mineworx Technologies Ltd have formally approved the environmental impact evaluation and all required permits have been granted to allow the project to proceed. Since Mineworx has now received the required approvals, it is planning to start an exploration drilling program in April 2021, with the focus of both validating historical exploration data and offering more information about other anomalies determined by earlier surveys.

The drilling program and the subsequent analysis will offer information to enable Mineworx to develop a NI 43-101-compliant reserve report. Mineworx will be drilling 21 holes in total for a total of 2,200 m over a four-month period.

The Spanish government, in November 2020, categorized the property as a strategic initiative, thereby opening additional development opportunities like reductions in local and national bureaucratic timelines, fast track opportunities, subsidies and grants, as well as economic verification of large-scale commercial production. This classification would include a small-scale treatment plant that generates up to 60,000 tonnes of concentrate annually per year.

A major part of this is because of the historical importance of the property that was first owned by Altos Hornos de Vizcaya—the largest mining company in Spain—until it was closed in 1989 because of a huge plunge in iron ore prices. In March 2021, CRS INGENIERÍA—a Spanish geology firm—provided Mineworx with a report that offered an interpretation of the data acquired from an aeromagnetic survey of the property performed in 2015. The conclusion of the report is that—based on this data and presuming a density of 3.2 t/m3, the prospective reserve could be 101.27 million tonnes at a 60% average grade.

Source: azomining.com

 

Elementos’ Spanish tin project

Elementos hopes to confirm near-surface mineralisation and the latest tin results have confirmed significant zones of mineralisation. Elementos has received assay results from four holes drilled at the Oropesa Tin Project in Spain.

Late last year, Elementos began a 5000-metre diamond drilling program at the project which primarily aimed to upgrade the JORC mineral resource which currently stands at 67,520 tonnes of tin. Specifically, Elementos hopes to convert Oropesa’s inferred resources into the indicated category to improve the overall waste-to-ore stripping ratio. Additionally, drilling is aimed at confirming near surface mineralisation that isn’t included in the 2017 geological resource model, and testing more near surface resources from previously identified exploration targets. The latest batch of results have been received from a lab based in Ireland and have confirmed significant zones of mineralisation. Results include 4.8 metres at 0.3 per cent tin from 22 metres, 14.5 metres at 0.38 per cent tin from 43 metres, 7.1 metres at 0.33 per cent tin from 10.3 metres, and 41.9 metres at 0.2 per cent tin from 132.9 metres. According to an economic study released in May last year, the Oropesa Tin Project is set to be a low-cost, “globally significant” tin development. It’s also expected to produce 2440 tonnes of tin concentrate over a 14-year mine life. Currently, the drilling program will include 47 holes but this may change depending on the results that are received.

Source: themarketherald.com.au