TIDMSML
RNS Number : 1709R
Strategic Minerals PLC
13 June 2018
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
13 June 2018
Strategic Minerals plc
("Strategic Minerals", "SML" or the "Company")
Leigh Creek Copper Mine Work Programme Commenced
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing
mineral company actively developing projects prospective for
battery materials, is pleased to inform the market that it has
commenced the technical assessment of the Leigh Creek Copper Mine
("LCCM") with the formation of a highly experienced study team. The
proposed work programme is expected to lead to the commencement of
copper production around mid-2019.
Highlights
-- Formation of highly experienced technical team with extensive
experience in South Australian copper projects
-- Drilling of existing heap leach pads due to commence in second half of June
-- Drilling of Paltridge North, Lynda and Lorna Doone deposits
for metallurgical samples due to commence in July
-- Exploration drilling for potential resource extension between
the Lynda and Lorna Doone deposits due to commence in July
Commenting, John Peters, Managing Director of Strategic
Minerals, said:
"The SML Board is thrilled with the highly skilled and
experienced technical team that has been assembled to progress this
exciting copper project. The team has over 100 years' combined
experience, much of which is in South Australian copper geology and
processing. The quality of the team provides a superb foundation
from which to review potential development and processing options
and settle on a work programme that will minimise risk and maximise
shareholder returns.
"The SML Management and Board are closely following the progress
at LCCM and have established reporting arrangements and management
policies to closely monitor developments and to ensure delivery of
sustainable operations mid-2019.
"The work programme and the development of LCCM are both
expected to be fully funded from the Company's existing cash flows,
and we look forward to updating the market on the progress of the
work programme during the September quarter."
LCCM Work Programme
As announced by SML on 26 April 2018, a work programme was
committed to by the Company to assess low risk processing options
for the Mountain of Light and Lyndhurst projects, which
collectively form the LCCM project, as well as looking for
opportunities to increase the existing resource base.
This work programme is aimed to commence sustainable production
from existing heap leach pads in mid-2019.
Initial work activities include:
-- Drill testing and assaying of the existing heap leach pads
-- Volume determination of existing heap leach pads
-- Diamond drilling of Paltridge North, Lynda and Lorna Doone
deposits for subsequent metallurgical testwork to determine the
most appropriate metallurgical process to increase recoveries
-- Exploration drilling to test for possible copper oxide
deposit extensions between the Lynda and Lorna Doone deposits
LCCM Project Team
The work programme at LCCM has commenced with the formation of a
world class technical team in project management, geology and
metallurgy which has a combined experience of over 100 years, with
much of it in South Australian copper deposits.
Jonathon Trewartha, Project Manager
Jonathon is a highly experienced Mining Engineer and Project
Manager with over 28 years' experience in South Australian copper
and international base metal projects. This includes project
management with Golder Associates, Terramin and on the Olympic Dam
copper-gold project. Jonathon was the Managing Director of
Resilience Mining Australia Ltd., the previous owners of the LCCM
project, and has formed a strong foundation for the project to move
forward into production.
Jonathon is also a guest lecturer at the University of
Adelaide.
David Larsen, Geology Manager
David has over 35 years' experience as a geologist working in
the mining and exploration industries throughout Australia, the
Pacific and Mongolia. He has worked across a wide variety of
commodities including gold, base metals and iron ore, and has done
so in both open pit and underground operations. His areas of
expertise include near-mine exploration, feasibility studies, JORC
and NI43-101 compliant resource estimation and reporting,
operations establishment, due diligence and quality
improvement.
Arthur Hunt, Metallurgical Manager
Arthur is a metallurgist and operations manager with 34 years'
experience in metallurgy, project and operations management. Arthur
is well regarded in the industry having held key roles in South
Australia including: Uranium One - Mine Manager; CuDeco Ltd -
Technical Manager; OZ Minerals - Processing and Maintenance Manager
- Prominent Hill and WMC Olympic Dam - General Manager Smelter.
For further information, please contact:
+61 (0) 414 727
Strategic Minerals plc 965
John Peters
Managing Director
www.strategicminerals.net
Follow Strategic Minerals on:
Vox Markets: https://www.voxmarkets.co.uk/company/SML/
Twitter: @SML_Minerals
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc
+44 (0)20 3470
SP Angel Corporate Finance LLP 0470
Nominated Adviser and Broker
Ewan Leggat
Laura Harrison
+44 (0)20 3735
Yellow Jersey PR 8825
Financial PR
+44 (0)7747 788
Charles Goodwin 221
+44 (0)7769 325
Joe Burgess 254
+44 (0)7951 402
Henry Wilkinson 336
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, operating minerals
company actively developing projects prospective for battery
materials. It has an operation in the United States of America and
development projects in the UK and Australia. The Company is
focused on utilising its operating cash flows, along with capital
raisings, to develop high quality projects aimed at supplying the
metals and minerals being sought in the burgeoning electric
vehicle/battery market.
In September 2011, Strategic Minerals acquired the Cobre
magnetite tailings dam project in New Mexico, USA, a
cash-generating asset, which it brought into production in 2012 and
which continues to provide a revenue stream for the Company. This
operating revenue stream is utilised to cover company overheads and
invest in development projects orientated to supplying the
burgeoning electric vehicle/battery market.
In January 2016, the portfolio was expanded with the acquisition
of shares in Central Australian Rare Earths Pty Ltd, which holds
tenements in Western Australia and the Northern Territory that are
prospective for cobalt, gold, nickel sulphides and rare earth
elements. The Company has since acquired all shares in Central
Australian Rare Earths Pty Ltd.
In May 2016, an additional exploration asset was acquired when
the Company entered into an agreement with New Age Exploration
Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in
Cornwall, UK. This 50% acquisition was completed in February 2017
and a drilling programme completed in 2017 resulted in a
significant upgrade of the resource.
In March 2018, the Company completed the acquisition of the
Leigh Creek Copper Mine situated in the copper rich belt of South
Australia and is currently working to bring this into operation in
2019.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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