Element 25 Limited (ASX: E25) deals in the exploration of gold and base metals in the regions of East Pilbara and Leonora in Western Australia. The company released its Quarterly Activities Report for the quarter ending 31 March 2019 today. The company has observed remarkable progress during the quarter across various work streams.
The company continues to progress on the Pre-Feasibility Study (PFS) conducted for Butcherbird High Purity Manganese Project (Project). As Metal Bulletin forecasted the positive demand and robust demand growth and pricing for high purity manganese products, coupled with the scoping study results, the Company took up a PFS to evaluate the route to commercialisation for this manganese resource. The company tied-up with several consulting groups to handle and oversee the various elements of the study.
Post completion of the resource infill drilling programme (involving 210 aircore holes across 6,672 m) in the December 2018 quarter, the results of the programme were added into the Company’s geological database and were given to IHC Robbins. IHC then conducted the Mineral Resource Assessment and released it on 17 April 2019.
IHC Robbins prepared a revised Butcherbird High Purity Manganese Project Mineral Resource Estimate for the deposits at Yanneri Ridge, Richies Find, Coodamudgi and Mundawindi for the year 2019. A notable upgrade was observed in JORC Mineral Resources for the Project to 263 Mt at 10% manganese. It was around a 34% rise in the estimated contained manganese. The revised estimate is presented in the below table:
Source: ASX announcement on 23rd April 2019
A bulk metallurgical test was undertaken using the proprietary E25 flowsheet on the PQ diamond drill hole core samples taken from High Purity Electrolytic Manganese Metal (HPEMM). High Purity EMM flakes with 99.95% Mn were produced from the test. Following the metallurgical test, Lycopodium Ltd conducted a 13-hole diamond drill program in Feb 2019 for metallurgical assessment.
E25 plans to complete many other tests over the coming months including purification, leaching, crystallisation, electrowinning and milling assessment tests.
During the quarter, three geotechnical reviews were done using the diamond core samples as a basis for assessment. The following companies undertook the assessment:
|Peter O’Bryan and Associates||Preliminary assessment of the wall stability for open pit design purposes.|
|4DG Pty Ltd||Diggability assessment of the proposed open pit area.|
|Advisian||Preliminary foundation assessments on 3 holes drilled to figure out a potential area for a future wind farm.|
The company appointed Advisian to complete a power study for the PFS. The first stage of power requirements review was completed during the quarter. Advisian has sent vendor packs for Independent Power Providers (IPP) proposing gas and wind solutions to a selected short list of leading industry power providers.
The environmental aspects of the PFS are being monitored by MBS Environmental. The environmental team is currently working on wet season baseline flora and fauna surveys whose results will be reported in the coming quarter.
The company is in conversations with many key stakeholders over the grant process for mining lease application 52/1074. During the quarter, the company had an agreement in principle with the Karlka Nyiyaparli People, who hold native title over eastern parts of the application area.
During the quarter, the Australian Renewable Energy Agency (ARENA) granted funding of $490K for the demonstration of the viability of Intermittent Dynamic Electrowinning (IDE).
Recently, the company signed an agreement with St Barbara Limited (SBM) for the Green Dam Project for the sale of its Exploration Licences 28/2327 and 28/2313.
The company’s stock closed at flat AUD 0.200 (as on 23rd April 2019).
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