TIDMSML
RNS Number : 2964J
Strategic Minerals PLC
04 December 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.
4 December 2018
Strategic Minerals plc
("Strategic Minerals", "SML" or the "Company")
CARE Commences EM Survey at Hanns Camp South
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing
mineral company actively developing projects prospective for
battery materials, is pleased to announce the commencement of an
electromagnetic geophysical survey ("EM Survey") by its wholly
owned subsidiary, Central Australian Rare Earths Pty Ltd ("CARE")
for potential Nickel (Ni) sulphide targets at the Hanns Camp Nickel
Sulphide Exploration Project ("Hanns Camp Project") in Western
Australia, south-east of Laverton.
Highlights:-
-- A ground-based EM Survey has commenced, designed to identify
nickel sulphide conductors for follow-up drill testing.
-- Following an aircore drilling programme in early 2018, a
geological review of the Hanns Camp Project was completed in
conjunction with Dr Martin Gole. Results of this work confirmed the
presence of three valid target areas, Hanns Camp South, Royal North
and Royal Central prospects as potentially hosting komatiite lava
channel-facies rocks.
Commenting, John Peters, Managing Director, Strategic Minerals
said:
"Further work by our geologists and our Nickel expert, Dr.
Martin Gole, has highlighted three additional high priority areas
for potential nickel sulphide mineralisation within our Hanns Camp
tenements. The commencement of the EM Survey over the targets is a
key step in the identification of drilling targets."
CARE EM Survey
As previously reported, a review of the Hanns Camp Project lead
to the identification of a number of targets within the Hanns Camp
ultramafic unit that were considered to potentially host komatiite
lava channel-facies rocks. These targets had nil to only minimal
testing by historic exploration, and subsequently an aircore
drilling programme was completed in early 2018 to provide
geological evidence of the prospective lithologies and interpreted
basal contacts.
Following the drilling programme, a review of the data followed
by a field inspection was completed in conjunction with Dr Martin
Gole. Results of this work confirmed the presence of three valid
targets, Hanns Camp South, Royal North and Royal Central, as
potentially hosting komatiite lava channel-facies rocks, which is
one of the key requirements for the potential accumulation of
nickel sulphides, with a strong recommendation from Dr. Gole to
complete a ground-based EM Survey along the eastern basal contacts,
particularly the Hanns Camp South prospect.
To test these targets a ground-based electromagnetic geophysical
survey has commenced. The EM Survey is designed to test the
interpreted basal contacts of the ultramafic units, with the aim of
identifying conductors and generating targets for drill testing.
Results of the EM Survey will be released to the market when
available.
COMPETENT PERSON'S STATEMENT
The exploration results in this announcement are based on
information compiled by Mr. Graeme Purcell, who is a Member of the
Australasian Institute of Geoscientists. Mr Purcell is the
Principal of Petrichor Geological and is a consultant to the
Company. He has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity he is undertaking to qualify as a Competent Person, as
defined in the 2012 Edition of the Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves and a
qualified person as defined in the AIM Note for Mining and Oil
& Gas Companies dated June 2009. Mr Purcell has over 20 years'
Australia and international experience in exploration for precious
and base metals.
FORWARD LOOKING STATEMENTS
This report contains "forward-looking information" that is based
on the Company's expectations, estimates and forecasts as of the
date on which the statements were made. This forward-looking
information includes, among other things, statements with respect
to the Company's business strategy, plans, objectives, performance,
outlook, growth, cash flow, earnings per share and shareholder
value, projections, targets and expectations, mineral reserves and
resources, results of exploration and related expenses, property
acquisitions, mine development, mine operations, drilling activity,
sampling and other data, grade and recovery levels, future
production, capital costs, expenditures for environmental matters,
life of mine, completion dates, commodity prices and demand, and
currency exchange rates. Generally, this forward-looking
information can be identified by the use of forward-looking
terminology such as "outlook", "anticipate", "project", "target",
"likely", "believe", "estimate", "expect", "intend", "may",
"would", "could", "should", "scheduled", "will", "plan", "forecast"
and similar expressions. The forward-looking information is not
factual but rather represents only expectations, estimates and/or
forecasts about the future and therefore need to be read bearing in
mind the risks and uncertainties concerning future events
generally.
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
Facebook: https://www.facebook.com/search/top/?q=strategic%20minerals%20plc
+44 (0)20 3470
SP Angel Corporate Finance LLP 0470
Nominated Adviser and Broker
Ewan Leggat
Laura Harrison
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 its development projects.
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 that are prospective for cobalt,
nickel sulphides and rare earth elements. The Company has since
acquired all shares in Central Australian Rare Earths Pty Ltd. In
September 2018, the Company sold certain CARE tenements that had
been identified as gold targets.
In May 2016, the Company entered into an agreement with New Age
Exploration Limited and, in February 2017, acquired 50% of the
Redmoor Tin/Tungsten project in Cornwall, UK. The bulk of the funds
from the Company's investment were utilised to complete a drilling
programme that year. The drilling programme resulted in a
significant upgrade of the resource. The 2018 drill programme is
almost complete and has provided the best assay results to
date.
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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