Friday, February 17, 2017

Montepuez ruby mine, Mozambique

The Montepuez ruby deposit is located in the northeast of Mozambique. Covering 33,600 hectares, it is the most significant recently discovered ruby deposit in the world.

The concession is located at a geologically critical junction between the north-south trending Mozambique Belt and the east-west trending Zambezi Belt. Both are “treasure-bearing” Neoproterozoic orogenic belts within the global Pan-African tectonic framework.

Estimates of probable ore reserves are 432 million carats at a diluted grade of 15.7 carats per tonne.
Gemfields PlC (LON:GEM) announced last year that Montepuez has enough reserves to last 21 years. Rubies are formed when fluid derived from the parental magma interacted with the host rocks under a silica unsaturated environment. After hundreds of millions years of erosion, rubies are liberated from the host rock and transported and concentrated by water and eventually settled in alluvial, colluvial, and eluvial deposits.
At its inaugural June 2014 auction of ruby and corundum Montepuez ruby achieved $33.5 million or an average $18.43 per carat with 92 percent sold by lot.

The auction saw 2.03 million carats of ruby and corundum placed on offer, of which 1.82 million carats were sold.

If this is the case, the stone could yield a cut and polished ruby with a wholesale value of $1.5 million or more.
In November 2015 Gemfields discovered a 40.23-carat ruby at Montepuez which it has called “one of the most important rubies unearthed in recent times”

While the yield from the rough varies, one may assume 30 to 40 percent. This should provide a 12 to 16 carat gem. The question is how clean the stone is and if it requires heat treatment. A clean stone without heat treatment is more valuable.
The stone is significant because it attests to the mine’s ability to produce important rubies.

Due to the rarity of rubies, the discovery of a 40-carat ruby is comparable to finding a 100-carat rough diamond.

Critical Elements Corporation - CRE.v

Critical Elements Corporation - CRE.v is advancing the flagship Rose Lithium-Tantalum project in Quebec.

A PEA on the project suggests an IRR of 25%, with an estimated Net Present Value (NPV) of CA$279 million at an 8% discount rate. The payback period is estimated at 4.1 years.





On February 13, 2017 the media released News

The Globe and Mail reports in its Saturday, Feb. 11, edition that Critical Elements (70 cents) wants to advance its Rose lithium-tantalum project through the feasibility stage. The Globe's Ted Dixon writes in the Who's Buying and Selling column that last June, Critical Elements tapped Helm AG for a credit facility of up to $4.5-million. Helm also gets an option to acquire up to 25-per-cent ownership in the project by paying for a portion of the mine construction. In November, Critical Elements hired Steffen Haber as its president. So far, Mr. Haber has spent $226,695 buying stock in the market even as the share price was rallying toward multiyear highs.








Outcropping Lemare pegmatite.

http://pennystockjournal.blogspot.com/2016/10/critical-elements-corporation-crev.html

Thursday, February 16, 2017

Bearing Resources Ltd. - BRZ.v

Bearing Resources Ltd. - BRZ.v is focused on lithium. Through an agreement with Li3 Energy Inc. (OTCQB:LIEG), Bearing will acquire an undivided 17.7% interest in the advanced-stage Maricunga project located in Chile. The Maricunga lithium brine project represents one of the highest-grade undeveloped lithium salars in the Americas.


On February 15, 2017 the company released
News

Bearing Resources Ltd. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRANKFURT: B6K1) has received results from Li3 Energy Inc (“Li3”) from the ongoing exploration program at the Maricunga lithium brine project located in Chile (the “Maricunga Project”). Bearing has entered into a definitive agreement to acquire Li3 and its interest in the Maricunga lithium brine project (the “Li3 Definitive Agreement”). Li3 holds a 17.7% interest in the project along with Minera Salar Blanco (“MSB”) and Lithium Power International Limited (“Lithium Power”) at 32.3% and 50% respectively. Under the terms of the joint venture, Lithium Power has agreed to fund exploration and development costs with both Li3 and MSB having a free carry until the completion of a definitive feasibility study.








http://pennystockjournal.blogspot.com/2017/02/bearing-resources-ltd-brzv.html

Wednesday, February 15, 2017

Cordoba Minerals Corp. - CDB.v

Cordoba Minerals Corp. - CDB.v is focused on copper and gold projects in Colombia. The Company's flagship San Matias Project is located on the northern extension of the Mid Cauca Gold Belt.

The Company has an agreement with High Power Exploration Inc. ("HPX"), a company indirectly controlled by Robert Friedland.


See ----->http://angrygeologist.blogspot.ca/2017/02/cordoba-san-matias.html

On February 2, 2017 the company released
News

Cordoba Minerals Corp. (TSX-V: CDB; OTCQX: CDBMF) (“Cordoba” or the “Company”) and its joint-venture partner, High Power Exploration Inc. ("HPX"), a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland’s Ivanhoe Industries, LLC, are pleased announce that Cordoba has been named to the 2017 OTCQX® Best 50 a ranking of top performing companies traded on the OTCQX Best Market last year.








http://pennystockjournal.blogspot.com/2016/04/cordoba-minerals-corp-cdbv.html