Shares of Delrey Metals Corp. surged by 17% on Tuesday morning following positive re-assay results from its Four Corners iron-titanium-vanadium project in Newfoundland.
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Notable drill results include 393 g/t gold over 2.2 metres, 31 g/t gold over 6.1 metres and 82.9 g/t gold over 2.3 metres.
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Risk of a new dam break as a consequence of an unstable embankment at Gongo Soco open pit, in the southeastern state of Minas Gerais, are now minimal, said Vale.
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Samples returned values of up to 373 mg/L lithium, and up to 8,001 mg/L potassium.
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An independent commission proposed by the state government found that Posco’s subsidiary needs to address certain environmental and social issues before its mine gets approved.
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Deal creates the world’s second-largest platinum producer.
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President and CEO Mark Bristow said the company expected to complete a feasibility study for the project, which could extend the liefe of the mine into the 2030s, next year.
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The Vancouver-based miner intends to use the proceeds for its Kutcho copper-zinc project in northern BC.
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The company plans to advance its New Craigmont copper property with a diamond drilling program this year.
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The Canadian miner said that being able to enter Torrubia provides access to approximately 1.9 kilometres of strike with the widest and strongest soil copper geochemistry in the north part of the Torrubia trend.
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