KOR
SP 2.9c
Market Cap $8m
Placement Done 10th NOV-
“Due to additional demand for the placement, Korab resolved to increase the placement amount to 8,642,712 shares at 2.8 cents each”
ANN TODAY
“””SIGNIFICANT COBALT, SCANDIUM AND MANGANESE ASSAYS CONFIRM MINERALISATION AT BATCHELOR PROJECT “”””
Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) and its subsidiaries (“Korab Group”) are very pleased to advise that assay results for 2nd batch of 216 single meter samples from recent RC drilling at Batchelor project located near Darwin in the NT confirmed high grade cobalt, as well as silver, scandium, manganese and lead. Assay results also confirmed presence of gold, copper, nickel, platinum, and palladium as accessory metals.
KORAB PRESENTING AT LITHIUM AND BATTERY METALS CONFERENCE
Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) and its subsidiaries (“Korab Group”) are very pleased to advise that Korab’s Executive Chairman Mr. Andrej Karpinski has been invited to speak at the Lithium and Battery Metals Conference 2017 to be held at Crown Resort in Perth on 21-22 March 2018.
Mr. Karpinski’s presentation will address several themes including:
- New generation magnesium-ion batteries (which are superior to lithium-ion batteries in terms
of performance, storage capacity, power density, and durability);
- Development progress of the Korab’s Winchester magnesium project; and
- Cobalt/nickel exploration at Korab’s Batchelor project in the Northern Territory.
ALSO -
KORAB ACQUIRES PILBARA GOLD INTERESTS
- 100% interest in 7 exploration licence applications located near Castle Minerals, Artemis Resources, and Novo Resources Corp tenements with similarly prospective stratigraphies
- Pilbara gold interests comprise three projects in West Pilbara (near Karratha), and four projects in East Pilbara (near Nullagine and Marble Bar) including Castle Bravo project located near Coolyia Creek
- Prospective conglomerate horizons and basalt identified in GSWA mapping with potential for Witwatersrand-style conglomerate gold
AND- KORAB ACQUIRES ADDITIONAL PILBARA GOLD AND LITHIUM INTERESTS
- 100% equity in additional 2 exploration licence applications (ELA’s) located near Novo Resources Corp tenements with similarly prospective stratigraphies
- Pilbara gold interests now comprise 9 ELA’s - 3 projects in West Pilbara (near Karratha), and 6 projects in East Pilbara (near Nullagine and Marble Bar)
- Prospective lithologies (including Hardey formation and basalts) identified in GSWA mapping and historical open-file exploration reports available from GSWA
- Historical GSWA exploration data underlines potential for Witwatersrand-style conglomerate gold and lithium
——CONGLOMERATE GOLD DISCOVERY BY KAIROS MINERALS ADJACENT TO KORAB’S PILBARA PROJECT EXTENDS TARGET HORIZON—
Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) refers to the recent (9 November 2017) ASX announcement by Kairos Minerals (ASX: KAI) “Kairos discovers visible gold from newly- identified conglomerates at Croydon” reporting discovery of a gold bearing target horizon at Croydon Project located near ELA47/3902 recently acquired by Korab (reported on 31 October 2017).
Kairos reported significant thick conglomerate at four locations beneath the Mt Roe Basalt which had not previously been reported by government mapping thus extending the target horizon for gold bearing conglomerates.
-WINCHESTER-
Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) and its subsidiaries (“Korab Group”) are pleased to report that Korab has executed non-binding Heads of Agreement (HoA) with the operator and manager of Darwin Port.
The HoA envisages exporting of 500,000tpa of magnesite rock through Darwin Port East Arm Wharf and includes sub-leasing of the land, access to various port facilities, and use of loaders, and other equipment. HoA provides the basis for the final port agreement which will allow for exporting the magnesium carbonate rock through Darwin.
As announced,expanded pre-feasibility study into Winchester magnesite quarry and its potential earnings, costs, free cashflow, and net present value show that the project has an aggregate mine-life EBITDA of $395 million, and long-run annual EBITDA of $32 million/year (at 800kt/year of rock sales). The capital and start-up costs were estimated at around $4 mln (including overburden strip costs of approximately $1.2 million and a contingency of ~$1 million).
DYOR
