MINEX Forum

Tag: copper-nickel

  • Altai Resources Secures Subsoil Use Licence in Kazakhstan

    Altai Resources Secures Subsoil Use Licence in Kazakhstan

    Altai Resources Limited has announced a significant regulatory achievement with the receipt of a formal notification of intent from the Ministry of Industry and Construction of the Republic of Kazakhstan. This notification paves the way for the company to be granted a subsoil use licence adjacent to the Maksut South copper-nickel mine. This development is crucial for Altai Resources as it expands their exploration footprint within the highly prospective magmatic sulphide belt located in East Kazakhstan.

    The acquisition of this licence represents a strategic move for Altai Resources, allowing the company to enhance its exploration activities in a region known for its rich mineral deposits. The magmatic sulphide belt is particularly noted for its potential to yield significant copper and nickel resources, which are essential for various industries, including electric vehicle manufacturing and renewable energy technologies.

    As the demand for these metals continues to rise globally, particularly in the context of the green energy transition, Altai Resources is positioning itself to capitalize on the growing market. The expansion into this new area not only increases the company’s resource potential but also strengthens its overall portfolio in the mining sector.

    This milestone is expected to attract further investment and interest in the region, highlighting Kazakhstan’s role as a key player in the global mining industry. The company is now poised to advance its exploration initiatives, which could lead to new discoveries and contribute to the sustainable development of the local economy.

    Overall, the granting of the subsoil use licence marks a promising step forward for Altai Resources Limited, reinforcing its commitment to exploring and developing mineral resources in Kazakhstan’s rich mining landscape.

  • QX Resources expanding its Vuostok nickel-copper project in Sweden

    QX Resources expanding its Vuostok nickel-copper project in Sweden

    QX Resources-backed Bayrock Resources has expanded the mineral lease area around its promising Vuostok nickel-copper project in Northern Sweden.

    In July, the Steve Promnitz-led lithium explorer QX Resources’ acquired 39% of the unlisted Aussie company Bayrock Resources, which has a portfolio of nickel-copper-cobalt projects in Sweden.

    Bayrock’s Vuostok project is located roughly 60km northwest of Lainejaur, offering a potential joint development opportunity as a ‘district play’.

    The newly added Nr 102 lease expands the total mineral lease by 33% at Vuostok, which QXR says could be within potential trucking distance to Lainejaur given the well-established all-weather road network and supporting infrastructure in the district.

    “This would benefit any future stand-alone nickel-copper-cobalt operations or provide additional ore feed for a possible Lainejaur development,” the company says.

    “Trucking of ore material for processing is a regular feature of operations in this part of northern Sweden.”

    Further updates anticipated

    In another exciting development, significant nickel-copper assay results have been identified from boulders located within the new Vuostok lease and from drill results near surface at Vuostok.

    The company says these results underpin Bayrock’s decision to significantly expand the prospect.

    “This is turning into a genuine potential district scale operation given the proximity of Bayrock’s Lainejaur and Vuostok Projects in a mining friendly region of Sweden,” QXR managing director Steve Promnitz says.

    “Further updates are anticipated as Bayrock continues exploration across another highly prospective asset, the Notträsk Project, one of Bayrock’s six 100% owned nickel copper projects.”

    Highly encouraging widths of nickel-copper mineralisation

    The recently released assays by Bayrock highlight significant widths of nickel-copper mineralisation from eight holes at the Storbodsund Prospect within Vuostok.

    The results include:

    6.2m at 1.2% Ni, 2.2% Cu, 0.04% Co from 11m down hole (VUO23011);
    6.9m at 1.2% Ni, 0.3% Cu, 0.05% Co from 5.1m down hole, including 0.4m at 3.9% Ni, 0.3% Cu, 0.11% Co from 6.85m down hole (VUO23013);
    0.7m at 3.2% Ni, 1.0% Cu, 0.08% Co from 10.3m down hole (VUO23004); and
    0.9m at 1.2% Ni, 0.1% Cu, 0.08% Co from 6m down hole (VUO23005).

    QXR says the results indicate near surface massive nickel-copper sulphides between 0.3-6m thick, less than 18m from surface and beneath a thin cover of glacial sediments.