The Briefing on Mining

Namdeb Holdings has completed the sale of its Elizabeth Bay mine and related marine assets to a member of the Lewcor Group, a 100% Namibian-owned Consortium. De Beers and the Government of the Republic of Namibia hold 50% interest each in Namdeb. The move comes after Namdeb closed the operations of its Elizabeth Bay mine in September last year, as the company felt it could no longer run the operation economically after exploring various options.

Canadian company Japan Gold has acquired five new gold projects in the Southern and Middle Kyushu Epithermal Gold Provinces. The acquired gold projects cover significant current and past producing gold mines, including the Hishikari, Yamagano, Kushikino, Bajo and Okuchi mines, and collectively comprise 21,058ha. The Japanese Ministry of Economy, Trade and Industry (METI) has granted authorisation to Japan Gold to commence surface exploration at these areas.

Barrian Mining has signed a letter of intent (LoI) to acquire an 100% interest in the Troy Canyon gold silver project located in Nye County, Nevada, US, from Brocade Metals. The project is located approximately 70km east of Barrian’s flagship Bolo Project near Tonopah, in Nevada. It has returned underground stope rock grab samples grading 576g/t gold and greater than 100g/t silver.

Belmont Resources has agreed to acquire a substantial interest in part of Pistol Bay Mining’s Confederation Lake greenstone belt portfolio in Canada. The Fredart/Gerry Lake and adjoining claim groups are located approximately 25km northeast of Great Bear Resources’ Dixie property and adjacent to Pistol Bay’s Garnet Lake claims. The Arrow Zone/Garnet Lake, an adjoining claim block also owned by Pistol Bay, hosts a 2017 43-101 inferred mineral resource containing 2.1 million tonnes averaging 5.78% zinc, 0.72% copper, 19.5g/t silver and 0.6g/t gold.