Mining Briefs: Reward, Chase and more

IN today's Mining Briefs: Reward granted approval; Chase dumped on dusters; Way Linggo suspended; and Sandstone updates from Middle Island and Alto.
Mining Briefs: Reward, Chase and more Mining Briefs: Reward, Chase and more Mining Briefs: Reward, Chase and more Mining Briefs: Reward, Chase and more Mining Briefs: Reward, Chase and more

Reward's Lake Disappointment project

Staff reporter

Potash developer Reward Minerals has been granted federal environmental for the Lake Disappointment project in Western Australia.

Lake Disappointment is the first sulphate of potash project in Australia to be permitted under the dual exacting standards of a six-week environmental review process at a state level and under the federal EPBC Act.

Chase Mining Corporation has received assays from six targeted deep diamond holes drilled at its Lorraine mine in Canada.

The program failed to validate historical high-grade results, sending the company's shares down 50%.

The company previously reported visible gold, but said it was "unfortunately not an indication of widespread gold mineralisation".

Further, Chase said the drilling left little room for any tonnage potential not tested, "severely" downgrading the potential.

Kingsrose Mining is placing its Way Linggo project in Indonesia on care and maintenance after completing the last production campaign.

Production for the September quarter was 3145 ounces of gold and 21,780oz of silver and the company reported cash and bullion on hand of $37.5 million at September 30.

Resource extension drilling is underway as part of Kingsrose's strategy to establish an inventory which is big enough to warrant the resumption of mining and processing at Way Linggo, where the Talang Santo resource stands at 140,000oz of gold and 352,000oz of silver.

Middle Island Resources has reported maiden resources for its Plum Pudding and Old Town Well satellite deposits at Sandstone in WA.

The resources add 24,200 ounces of gold to take Sandstone's total to 692,000oz.

Finally, Middle Island's Sandstone neighbour Alto Metals has reported gold recoveries averaging up to 96% for its Lord Nelson deposit.

The initial 5000m of a 30,000m reverse circulation drilling campaign will begin next week.