Resource plays working around COVID-19 impact
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The COVID-19 outbreak continues to impact on explorers, with Jervois Mining (ASX:JRV) suspending all activity in Uganda after reporting some high-grade gold-copper hits at its Kilembe property.
Jervois says it will restart its operations when it is able to reactivate field operations in a safe and responsible manner.
Final assays from drilling at Kilembe include a top hit of 1m at 11.5 grams per tonne (g/t) gold and 1.36 per cent copper from 102.2m within a broader intercept of 6.1m at 2.1g/t gold and 0.24 per cent copper from 101.3m.
Gold intercepts of more than 5g/t gold are generally considered to be high-grade.
The company said the latest results expanded the prospective areas and improved its understanding of mineralisation at the Ugandan properties.
Additionally, the results will be used to prepare future field plans.
Meanwhile, New World Resources (ASX:NWC) is continuing its inaugural drilling program at the Antler copper project in Arizona, though this is contingent on continued supplies of consumables to the project site.
It said that all measures were in place to address the threat of COVID-19 and that drilling would be completed within six to eight weeks.
The 2,500m drill program comprises confirmatory and infill drilling within historically defined mineralisation to delineate resources that can be evaluated for near-term production.
About 70,000 tonnes of ore was intermittently mined from Antler between 1916 and 1970 at an average grade of about 2.9 per cent copper, 6.9 per cent zinc, 1.1 per cent lead, 31g/t silver and 0.3g/t gold.
Triton Minerals (ASX:TON) is accelerating discussions with potential Chinese financing institutions after receiving informal advice from its Chinese contractors and strategic partners that business appears to returning to normal in China.
“Having our largest shareholder on board over the past couple of months has provided us with a distinct advantage in being able to coordinate financing activities in China whilst travel restrictions limit the movement of Triton’s management,” managing director Peter Canterbury said.
The company plans to start construction of its Ancuabe graphite project in Mozambique in the third quarter of 2020 and commissioning the plant into production at the end of 2021.