Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Armadale Capital Plc
('Armadale' or 'the Company')
Update on Canyon Silver Asset
36 oz/t Ag, 66% Pb and 10% Zn grades demonstrated in previously hand-sorted stockpiles at 'High-Grade Silver, Lead, Zinc Mine Project' in Burke Canyon, Idaho
Further to the announcement of 24 April 2024, Armadale Capital Plc (TIDM:ACP), an AIM quoted investment company focused on natural resource projects, is pleased to announce further information on the assets relating to Africo American Incorporated ("AAI"), a company incorporated under the laws of the State of Idaho, the holding company of the Canyon Silver lead, zinc and silver exploration asset based in Northern Idaho, USA ("Canyon Silver"), as well as the Board's plan for future development of this asset.
Historic production prior to the mine ceasing operations in 1972 was focused on the number three shaft which produced 25,000 tonnes of ore at a grade of 4 to 6 oz per tonne of silver, 6-13% lead and 2-4% zinc and exposed a further 48,000 metric tonnes of mineralisation within the main vein. The project has an additional three to four more veins to assess.
In 1984 four truckloads of hand sorted ore were trucked to a local mill and returned exceptionally high grades as follows:
Three 25t truck loads averaged.
● 36 oz/t Ag, 66% Pb and 10% Zn
One 25t truck load averaged.
● 50% Zn, 8 oz/t Ag, and 8% Pb.
The high grade mineralisation near existing mine infrastructure presents a possible opportunity to unlock future cashflow for Armadale as we progress renovations of the existing mine infrastructure and advance the exploration prospects.
Work Programme:
The management of AAI will approve a detailed work programme and budget with mining contractors. who have all the equipment, personnel, licenses, training programs and contacts to cater for all the work planned at Canyon Silver, including small underground and surface drill rigs which drill to 150m; which is more than sufficient for Phase 1 drilling. The main objectives at this time are to fully open and renovate the two main ore carrying tunnels.
Tunnel No. 2 was a Formosa vein only and extends 97 Metres into the mountain side with the last 67 Metres believed to have lead, zinc and silver mineralisation. This may be confirmed when the tunnel is opened and extensive samples have been taken. Armadale's first task is to clean out any loose rock and sample, measure and model the vein seen in the hanging and footwall to ascertain the grades.
Tunnel No. 3 went 137 Metres into the mountain before intersecting the Formosa vein it followed for over 60 Metres, stopping much of the ground above it along the way. Eventually No. 3, which was still following mineralisation, encountered an additional large, low grade orebody about 30 metres inside the mountain - demonstrating additional potential for the deposit.
Canyon Silver has three tunnels, with shaft
Their are 5 phases leading upto the official signing of contracts in August, IMO phase 2 is the most important out of these as it proves to YLB that we have everything in place and the technology works. Once through this stage, I think we'll get some sort of assurance from the EU that funding is available.
9 days to go for the end of phase 2, so next Friday, then annoucement of qualifiers upto 5 days from their. We have everything in place and we should qualify easily. This will then open the door to EU Funding and plenty of news flow. its going to be an interesting few weeks ahead.
We are currently in the second round, not sure what your saying, you best copy and paste.
Im afraid that happens on all aim shares Pauly, The fact is the prospects are good and I know DH has done all he can to get this right and win the contracts.
Alot of companies/countries have DLE it is nothing new, however its not the favoured method for the YLB as its not entirely enviromently friendly. Clon is not using this method, we are using IDLE which doesnt use masses amounts of water and protects the enviroment, this method is patented and ground breaking and is favoured by the YLB, which puts us in a very unique position.
From RNS.
NCX's ion extraction technology uses the surface area of hollow fibre membranes to extract lithium ions from brines. The technology is a continuous process, and does not require high pressure, temperature or electrolysis. It does not rely on osmotic processes, or costly filtration techniques electrolysis, but instead mimics biophysical processes of natural principals to induce ions in solution to cross the membrane barrier. This mimics how mammal organisms remove wastes from a donor liquid without physically mixing with an acceptor liquid.
The technology has been proven to be effective and efficient during laboratory testing, and in the Board's view, NCX's technology is an innovative approach to direct lithium extraction.
Environmental attractions include limited energy and water consumption, extracting the targeted ions and generating minimal waste. It is suited for lithium extraction from Bolivian brines, where evaporative ponds are not optimal due to rainfall conditions, altitude and magnesium content.
There are loads of clues in recent RNSs to EU Funding, this is just one of them.
The Company further notes that the European Commission is vigorously pursuing its priority Critical Resources Initiative, and committing substantial financial and other resources to bring producers, suppliers, and users together to secure adequate off-take for European markets. EU private sector and financial institutions now focus on strengthening critical raw material value chains between the EU and Latin America.
Further updates will be provided, as appropriate, in accordance with necessary clearances from the authorities.
A cash call is unlikely, if we get the green light we should get EU Funding.
We had to start ticking up at some point, with all the prospects on the horizon, we are way undervalued.
Https://www.ylb.gob.bo/resources/img/2024/convocatorias/05042024.jpeg
Yes, you are correct Rebel, DH has been working/talking to the local comunities and indigenous people for quite a few years now.
It seems those issues are being resolved
Https://www.ylb.gob.bo/resources/img/2024/20240414.pdf
Llipi (Potosí), April 14, 2024 (UCI-YLB).- With the signing of an inter-institutional agreement, the National Strategic Public Company of Bolivian Lithium Deposits (YLB) and the representatives of the community of Río Grande (Potosí) agreed to work together on water, the environment and the development of the lithium production chain, reported the president of the state-owned company. Karla Calderón. "It was an arduous work, with important advances, we responded to the list of demands of the community members, we laid the foundations of a relationship for the future, prioritizing a good coexistence with the community surrounding the project and contributing, in the best possible way, to the development of the company," he said. The agreement was signed on Saturday night, after 20 hours of dialogue, in a meeting with authorities from Rio Grande, headed by the Deputy Minister of Exploration and Exploitation of Water Resources, Raul Mayta, and the president of the state-owned company, along with her technical team. According to the signed document, the community of Rio Grande is committed to contributing to the development and implementation of the activities of the entire lithium production chain, in addition to agreeing on a "good relationship" with YLB, within the framework of the commitments assumed. The agreement establishes the rational and sustainable use of water resources for the industrialization of evaporitic resources; in addition to carrying out periodic water analyses, in coordination with the community's Water Committee. It also provides for joint cooperation in the management of studies in watersheds within and outside the jurisdiction of the Rio Grande to identify alternative sources of water supply for the community and YLB operations. YLB will also install drinking troughs for domestic livestock and wildlife in the area. The agreement includes training for community members in environmental monitoring, support in the area of health, promotion of tourism, among other points. "It is important to note that this is the beginning of a constant and permanent dialogue between the community and our YLB. We are the government of dialogue and today we are complying with facts," said Deputy Minister Mayta. The signed agreement puts an end to the mobilizations and pressure measures in the vicinity of the YLB Industrial Complex
I asked DH about that report a couple of weeks ago, he said he wasnt phased by it and it wasnt unusual for a d and t company like nextchemx to have those sort of problems, if you read it through it also states that the technology is working and should easily be upscalable and they are already working on a pilot plant, Overall its all very positive . IMO
No, their won't be any partnering with Russia or China, I believe all the ducks are now lined up including EU funding, its just a matter of waiting for the decision on 09/05 and hopefully things will start to move forward.
Grant of options, 60m not over the top and well deserved if he pulls it off, good sign of confidence IMO
I dont see we will have any problems getting through phase ll, we know our system works in the laboratery, and should be scalable to the pilot plant, once we are through phase 2 it should open the door to EU funding.
Https://www.ylb.gob.bo/resources/img/2024/convocatorias/05042024.jpeg
1 Proposal for pilot project,
2 minimally consider AACE (Association for the Advancement of Cost Engineering) standards for protections at conceptual level class IV level II
3 Visit to a salt flat and a production well for sampling
4 YLB will inspect the facilities of the proponents
23 COMPANIES IN PHASE II (UNTIL 09/05/2024)
What Rebel states is absolutely true, i'm baffled to why anyone is challenging it.
Seems things are moving Fast
https://www.ylb.gob.bo/resources/img/2024/04042024.pdf
La Paz, April 4, 2024 (UCI-YLB).- The National Strategic Public Company of Bolivian Lithium Deposits (YLB) awarded the Transport Cooperative "Vinto K" R.L., of the Vinto K community, in the Salar de Uyuni, Potosí, the "dump truck rental service for construction, maintenance and processing of raw material management 2024", generating the dynamization of the economy in the region.
YLB invited 14 national and southwestern Potosí companies and micro-enterprises, related to the sector, to participate in the call, under the modality of direct contracting for activities directly related to the business line or business. Two bidders were presented: the Delta Rio Grande S.R.L. Company, with a proposal of Bs 25 million, and the Vinto K R.L. Transport Cooperative, which offered Bs 15.5 million for the service, this being the proposal with the lowest price.
"The Transport Cooperative "Vinto K" R.L. complies with the conditions and technical characteristics of the requested service, being the company that offered its services at the lowest price, recommending the award," states the report YLB-GOM-0032-INF/24 of the state-owned company. The awarded company brings together families from different communities in the area, which means an economic movement for the communities surrounding the YLB Industrial Complex. The contracting process was published in SICOES and will be brought to the attention of the Office of the Comptroller General of the State, for its inspection and review within the framework of current regulations