Proactiveinvestors USA & Canada ioneer Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada ioneer Ltd RSS feed en Mon, 18 Feb 2019 02:25:26 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - ioneer advances Rhyolite Ridge DFS for first lithium and boron production in 2021 ]]> https://www.proactiveinvestors.com/companies/news/213669/ioneer-advances-rhyolite-ridge-dfs-for-first-lithium-and-boron-production-in-2021-213669.html ioneer Ltd (ASX:INR) advanced development of its Rhyolite Ridge Lithium-Boron Project during the December quarter, completing a pre-feasibility study (PFS) that details a low-risk project with strong economics.

Engineering and design firm Fluor Corporation (NYSE:FLR) was appointed to complete the project’s definitive feasibility study which is expected to be finished in quarter three 2019.

The work program for the next few months includes discussions for potential off-take, financial and strategic partners, flow sheet optimisation and completion of infill and extensional drilling.

An ore reserve and mineral resource update based on the drilling results will be undertaken, aiming to upgrade the starter pit’s resource to the measured category.

The company also appointed Ian Bucknell as chief financial officer, who will play a key role in both financing the project and building necessary organisational capabilities and processes.

 

ioneer managing director Bernard Rowe said the Rhyolite Ridge PFS demonstrated the project’s scale, long life and potential to become the lowest-cost lithium producer in the world.

He said: “With a strong and highly experienced technical team based in the US, Fluor is the perfect partner to complete the Rhyolite Ridge DFS and work with us to deliver the project into production.”

Rowe also noted the potential for Rhyolite Ridge to become the largest lithium producer in the United States.

The PFS estimated production costs of US$1,796 a tonne of lithium carbonate with a boric acid credit.

Production would begin in 2021 with an initial plus-30-year mine life and the opportunity to extend.

Annual production will amount to 20,200 tonnes of lithium carbonate and 173,000 tonnes of boric acid per year.

READ: ioneer director Alan Davies steps up and buys shares on market

Fluor has started work on the DFS with project setup, scheduling and zero-base-design completed during the quarter.

Major process activities are underway including trade-off studies relating to the sulphuric acid plant and final lithium products.

Fluor president mining & metals Tony Morgan said Rhyolite Ridge would be a flagship project for Fluor, its client ioneer and for the United States.

He noted the project’s status as one of the world’s largest undeveloped lithium-boron deposits and one of the largest greenfield resource projects in the United States.

Morgan added: “We’ve assembled a strong and highly experienced team to deliver this exciting project.”

Indicative timeline for Rhyolite Ridge

  READ: ioneer’s high-grade lithium-boron drill results indicate potential to improve cash flow

A drilling program comprising about 40 holes is currently being undertaken to upgrade the lithium-boron mineral resource to the measured category.

The program also aims to extend the high-grade, shallow mineralisation to the south of the proposed starter pit.

With the gently-dipping lithium-boron zone averaging 20 metres in thickness, extensions to the current resource are likely to add significant near-surface tonnes.

Initial assays for the first nine holes were released during the quarter which indicated higher boron grades of about plus-30% than currently modelled for the initial mining area.

READ: ioneer appoints Fluor for definitive feasibility study

Rowe continued: “Initial results from our 2018-19 drilling program have already indicated that cash flows in the first few years of mining are expected to be improved by increasing boron grades mined and lowering the strip ratio.

“With approximately $70 million cash, we are able to undertake the work required to rapidly progress Rhyolite Ridge towards production.

“With the in-depth knowledge provided by the PFS, the company is well positioned to advance serious discussions with a diverse range of potential market and finance partners.”

READ: Global Geoscience becomes ioneer of sustainable future with a new name

Boron grades in the first three years of the PFS mine plan average 1.03% boron (equivalent to 5.9% boric acid).

The recent drilling results are likely to increase the boric acid grade in the first few years of the starter pit.

Each 1% increase in the boric acid grade would provide a revenue increase of about US$6 a tonne of ore processed, assuming a boric acid sale price of US$700 a tonne.

At the PFS base case processing rate of 2.6 million tonnes per year, each 1% increase also equates to an additional US$15.6 million of revenue per annum.

Looking east over ioneer's Rhyolite Ridge south basin

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Wed, 30 Jan 2019 22:37:00 -0500 https://www.proactiveinvestors.com/companies/news/213669/ioneer-advances-rhyolite-ridge-dfs-for-first-lithium-and-boron-production-in-2021-213669.html
<![CDATA[News - Global Geoscience Ltd reviews high grade lithium in Nevada ]]> https://www.proactiveinvestors.com/companies/news/165243/global-geoscience-ltd-reviews-high-grade-lithium-in-nevada-70845.html Global Geoscience Ltd (ASX:GSC) has completed the preliminary review of historical exploration data over the southern basin of its Rhyolite Ridge Lithium-Boron Project in Nevada, U.S.

The historical high-grade lithium intersections include 12 metres at 1.42% lithium carbonate equivalent (LCE) from 65 metres and 14 metres at 1.37% LCE from 55 metres.

Importantly, the data demonstrate the significant tonnage together with the potential for higher-grade zones of mineralisation within South Basin.

The historical data analysed by Global includes drilling undertaken in 2010-2011 by American Lithium Minerals Inc, in conjunction with Japan Oil, Gas and Metals National Corporation.

The drill-hole data is expected to provide sufficient information to calculate an initial JORC-compliant resource estimate.

Global anticipates completion of the maiden resource estimation in October 2016.

Upon completion of a resource estimate and subject to positive preliminary metallurgical test work, the company will commence a pre-feasibility study (PFS) to assess the economic potential of the project.

Global is fully funded to complete a PFS on the project, after raising $6 million last month via a share placement at $0.075 each.

Incidentally, the company has also estimated an exploration target for the North Basin of 1 to 1.5 billion tonnes at 1000 ppm to 2000 ppm lithium, 0.5% to 1.0% boron and 0.5% to 1.0% potassium.

Global’s share price has increased by more than 900% during the last six months, last trading at $0.062.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Sep 2016 13:00:00 -0400 https://www.proactiveinvestors.com/companies/news/165243/global-geoscience-ltd-reviews-high-grade-lithium-in-nevada-70845.html
<![CDATA[News - Global Geoscience Ltd finalises oversubscribed raising for Nevada lithium ]]> https://www.proactiveinvestors.com/companies/news/165242/global-geoscience-ltd-finalises-oversubscribed-raising-for-nevada-lithium-70335.html Global Geoscience Ltd (ASX:GSC) will be fully funded to complete a pre-feasibility study on the Rhyolite Ridge Lithium-Boron Project in Nevada, U.S., after receiving commitments to raise $6 million via a share placement at $0.075 each.

The Rhyolite Ridge Project is a high quality, lithium-boron-strontium asset located close to existing infrastructure in Nevada with a significant potential to grow and advance.

The net proceeds from the placement will be used for preliminary metallurgical test work, resource and exploration drilling and to define a maiden JORC-compliant resource estimate for the South Basin area.

8800 metres of drilling has been undertaken at South Basin in 2010-2011 by American Lithium Minerals Inc, in conjunction with Japan Oil, Gas and Metals National Corporation.

Global has obtained access to this substantial exploration database, which would cost over $3 million to replicate.

An exploration target of 200-300 million tonnes grading 0.64-1.06% lithium carbonate equivalent (LCE) and 0.6-1.2% boron has been calculated by Global for part of the South Basin area.

Notably, 84 rock chip samples collected by Global from outcrops over a strike length of 2.5 kilometres at South Basin returned grades of up to 2.0% LCE.

Most importantly, testing of rock chip samples show that >90% of total lithium content can be recovered using a weak-acid digest (leach).

This provides evidence that the hosted lithium can be extracted without the need for high-cost processing.

In June, Global secured an option to acquire a 100% interest in the Rhyolite Ridge Lithium-Boron Project from a private Nevada company.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 10 Aug 2016 09:30:00 -0400 https://www.proactiveinvestors.com/companies/news/165242/global-geoscience-ltd-finalises-oversubscribed-raising-for-nevada-lithium-70335.html
<![CDATA[News - Global Geoscience Ltd gets ready to raise for lithium ]]> https://www.proactiveinvestors.com/companies/news/165241/global-geoscience-ltd-gets-ready-to-raise-for-lithium-70271.html Global Geoscience Ltd (ASX:GSC) has been granted a trading halt by the ASX, pending details of a capital raising.

The company is evaluating the potential of the Rhyolite Ridge lithium-boron project in southern Nevada.

The halt will remain in place until the opening of trade on Tuesday 9th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 05 Aug 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/165241/global-geoscience-ltd-gets-ready-to-raise-for-lithium-70271.html
<![CDATA[News - Global Geoscience Ltd to reveal exploration results ]]> https://www.proactiveinvestors.com/companies/news/154969/global-geoscience-ltd-to-reveal-exploration-results-69848.html Global Geoscience Ltd (ASX:GSC) is poised to reveal exploration results, with the ASX granting the company a trading halt to prepare.

Shares in the company have increased over ten-fold in just over a month.

Global recently moved to acquire the Rhyolite Ridge Lithium-Boron project, where due diligence confirmed potential as a long life, low cost source of lithium and boron in the U.S.

The halt will remain in place until the opening of trade on Tuesday 19th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 15 Jul 2016 16:30:00 -0400 https://www.proactiveinvestors.com/companies/news/154969/global-geoscience-ltd-to-reveal-exploration-results-69848.html
<![CDATA[News - Global Geoscience Ltd to divulge acquisition ]]> https://www.proactiveinvestors.com/companies/news/154968/global-geoscience-ltd-to-divulge-acquisition-69006.html Global Geoscience Ltd (ASX:GSC) has some acquisition news on the table, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 6th June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 18:00:00 -0400 https://www.proactiveinvestors.com/companies/news/154968/global-geoscience-ltd-to-divulge-acquisition-69006.html
<![CDATA[News - Global Geoscience Ltd has an acquisition on the table ]]> https://www.proactiveinvestors.com/companies/news/154967/global-geoscience-ltd-has-an-acquisition-on-the-table-67929.html Global Geoscience Ltd (ASX:GSC) is preparing to outline details of a proposed acquisition, with the ASX granting the company a trading halt to prepare.

No further details have yet been outlined by the company.

The halt will remain in place until the opening of trade on Monday 11th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 07 Apr 2016 14:00:00 -0400 https://www.proactiveinvestors.com/companies/news/154967/global-geoscience-ltd-has-an-acquisition-on-the-table-67929.html
<![CDATA[News - Global Geoscience heads to market ]]> https://www.proactiveinvestors.com/companies/news/154966/global-geoscience-heads-to-market-65268.html Global Geoscience (ASX:GSC) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

The company holds copper-gold interests in Nevada and Arizona in the United States, and Peru.

The halt will remain in place until the opening of trade on Wednesday 28th October 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 26 Oct 2015 11:30:00 -0400 https://www.proactiveinvestors.com/companies/news/154966/global-geoscience-heads-to-market-65268.html
<![CDATA[News - Global Geoscience raises $900,000 for gold drilling in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154965/global-geoscience-raises-900000-for-gold-drilling-in-nevada-53942.html Global Geoscience (ASX: GSC) has completed an oversubscribed placement to sophisticated investors to raise $900,000 to fund a drilling program at its flagship Tokop gold project in Nevada, USA.

Shares were placed at $0.03, with one-for-two unlisted options exercisable at $0.05 per an expiry date of 28 September 2015.

The drill rig is expected to be on-site within the next few days and drilling will commence soon after.

Tokop is a greenfield discovery made by Global last year. Global's discovery program was limited to seven, wide-spaced drill holes and several surface trenches.

Wide zones of mostly oxide gold mineralisation are present at surface level and to depths of at least 200 metres.

Global also has an exploration alliance with Antofagasta (LON:ANTO) for copper in Arizona, and is capitalised at $7 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 27 Mar 2014 16:00:00 -0400 https://www.proactiveinvestors.com/companies/news/154965/global-geoscience-raises-900000-for-gold-drilling-in-nevada-53942.html
<![CDATA[News - Global Geoscience to launch placement ]]> https://www.proactiveinvestors.com/companies/news/154964/global-geoscience-to-launch-placement-53884.html Global Geoscience’s (ASX: GSC) shares are in pre-open after it was granted an ASX trading halt in relation to a pending placement.

The halt will last until the earlier of the announcement being released or the commencement of trading on Thursday, 27 March 2014.

Global had in February acquired tenure over the Towers Mountain porphyry copper system in central Arizona, U.S. - one of the world’s premier copper provinces.

Global owns 178 unpatented mining claims covering of 14.5 square kilometres, in which Antofagasta (LON:ANTO) can earn a 70% interest by spending US$5 million over six years, including US$1 million in the first two years to earn 51%.

The new property is the result of work conducted under the existing Arizona Exploration Alliance between Global and Antofagasta.
 
The area was identified by Global using its structural targeting methods, identifying a zoned stream sediment geochemical anomaly that included a central copper-molybdenum zone covering eight square kilometres.

Follow-up exploration identified the Towers Mountain porphyry intrusive and breccia complex as the source of the copper-molybdenum geochemical anomaly.

The Towers Mountain porphyry complex has been mentioned in several published reports dating back to the 1920’s, yet has never extensively explored.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 25 Mar 2014 13:20:00 -0400 https://www.proactiveinvestors.com/companies/news/154964/global-geoscience-to-launch-placement-53884.html
<![CDATA[News - Global Geoscience secures copper-molybdenum porphyry acreage with Antofagasta in U.S. ]]> https://www.proactiveinvestors.com/companies/news/154963/global-geoscience-secures-copper-molybdenum-porphyry-acreage-with-antofagasta-in-us-53042.html Global Geoscience (ASX: GSC) and Antofagasta (LON:ANTO) have identified and acquired tenure over the Towers Mountain porphyry copper system in central Arizona, U.S., one of the world’s premier copper provinces.

Global owns 178 unpatented mining claims covering of 14.5 square kilometres, in which Antofagasta can earn a 70% interest by spending US$5 million over six years, including US$1 million in the first two years to earn 51%.

The new property is the result of work conducted under the existing Arizona Exploration Alliance between Global and Antofagasta.
 
The area was identified by Global using its structural targeting methods, identifying a zoned stream sediment geochemical anomaly that included a central copper-molybdenum zone covering eight square kilometres.

Follow-up exploration identified the Towers Mountain porphyry intrusive and breccia complex as the source of the copper-molybdenum geochemical anomaly.

The Towers Mountain porphyry complex has been mentioned in several published reports dating back to the 1920’s, yet has never extensively explored.

Surrounding the central breccia is a discontinuous annular zone of copper mineralisation up to 400 metres wide, coincident with intense phyllic alteration.

The annular copper zone has not been tested in detail by drilling, and represents a high priority target for exploration.

Towers Mountain shares similarities with other large porphyry systems in the region, such as Freeport-McMoRan Copper & Gold’s (NYSE:FCX) Bagdad porphyry copper mine 80 kilometres to the northwest, which hosts 3 billion tonnes at 0.4% copper.

Global is working with a mining major, near major mines, and is capitalised at under $8 million.

 

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Fri, 21 Feb 2014 10:30:00 -0500 https://www.proactiveinvestors.com/companies/news/154963/global-geoscience-secures-copper-molybdenum-porphyry-acreage-with-antofagasta-in-us-53042.html
<![CDATA[News - Global Geoscience samples 13g/t gold in rock chips at Tokop, Nevada ]]> https://www.proactiveinvestors.com/companies/news/154962/global-geoscience-samples-13gt-gold-in-rock-chips-at-tokop-nevada-52797.html Global Geoscience (ASX: GSC) should firm in trade after revealing rock chip results up to 13 grams per tonne at its Tokop gold project in Nevada, U.S.

The 45 sample results averaged 2.1 grams per tonne gold, and are consistent with previous drill and trench results of up to 19 metres at 1.3 to 1.9 grams per tonne gold.

Tokop is a greenfield discovery made by Global last year, only seven drill holes have been completed to date, and a permit has been awarded covering the next phase of drilling.

The deposit is an Intrusion Related Gold System, with similarities to the 9 million ounce Fort Knox gold deposit in Alaska, owned by the $6 billion Kinross Gold (NYSE:KGC).

Geological, geochemical and geophysical data suggest the intrusion at Tokop measures 1 kilometre by 2 kilometres, exposed in three areas at surface, separated by limestone and skarn.

The results confirm Global's interpretation that the gold at Tokop is present within sheeted and stockworked quartz veins in a number of zones within the intrusion.

Importantly for potential mining operations, Tokop lies just 15 kilometres from the main highway between Reno and Las Vegas.

Global is capitalised at around $6 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 13 Feb 2014 13:40:00 -0500 https://www.proactiveinvestors.com/companies/news/154962/global-geoscience-samples-13gt-gold-in-rock-chips-at-tokop-nevada-52797.html
<![CDATA[News - Global Geoscience, Antofagasta continuing copper exploration in Arizona ]]> https://www.proactiveinvestors.com/companies/news/154961/global-geoscience-antofagasta-continuing-copper-exploration-in-arizona-51225.html Global Geoscience (ASX: GSC) and major Chilean copper producer Antofagasta (LON: ANTO) have completed preliminary work at their project in Arizona that justifies immediate follow-up.

Reconnaissance exploration has been completed on 15 target areas selected by Global using its in-house structural targeting method with over 2,000 geochemical samples collected.

The results have led Antofagasta, which has a market cap of £7.6 billion and four operating mines in Chile, to release an additional US$200,000 of exploration funding, bringing the total approved budget up to US$400,000.

Global has already started detailed ground work that should lead to drilling at selected targets in 2014.

Antofagasta can earn 51% in a project by spending US$1 million per project over two years, and can increase its interest to 70% by spending a further US$4 million per project over an additional four years.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 17 Dec 2013 16:40:00 -0500 https://www.proactiveinvestors.com/companies/news/154961/global-geoscience-antofagasta-continuing-copper-exploration-in-arizona-51225.html
<![CDATA[News - Global Geoscience gains Antofagasta free-carry for copper project in Arizona ]]> https://www.proactiveinvestors.com/companies/news/154960/global-geoscience-gains-antofagasta-free-carry-for-copper-project-in-arizona-48677.html Global Geoscience (ASX: GSC), a Sydney-based mineral exploration company, has teamed up with the US$14 billion capitalised Antofagasta plc (LON: ANTO) to explore for copper in Arizona, U.S.

The deal is a major win for Global Geoscience, by teaming with one of the world’s largest copper producers.

The alliance will explore for copper with an initial focus on 15 target areas selected by Global Geoscience.

Antofagasta has the right to select any or all of the targets for further exploration, and these will be deemed designated projects.

Global Geoscience will work with a wholly-owned subsidiary of the Chilean major, who will fully fund the alliance which Global Geoscience will operate.

Antofagasta can earn 51% in a project by spending US$1 million per project over two years, and can increase its interest to 70% by spending a further US$4 million per project over an additional four years.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 02 Oct 2013 10:40:00 -0400 https://www.proactiveinvestors.com/companies/news/154960/global-geoscience-gains-antofagasta-free-carry-for-copper-project-in-arizona-48677.html
<![CDATA[News - Global Geoscience makes gold discovery in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154959/global-geoscience-makes-gold-discovery-in-nevada-48032.html Global Geoscience (ASX: GSC) shares will soar today after making a greenfield gold discovery in Nevada with similarities to the producing multi-million ounce Fort Knox gold deposit in Alaska.

Tokop is a greenfield discovery with no prior drilling, all seven holes intersected gold mineralisation and most of it is shallow (<100m deep) and oxidised.

While early days, the Tokop Gold Project is an Intrusion Related Gold (IRG) system with similarities to other IRG deposits including Donlin Creek (31Moz), Fort Knox (9Moz) and Dublin Gulch (2Moz) in the Tintina Gold Province of Alaska/Yukon and Bald Mountain (8Moz) in Nevada.

The Tokop gold project is located 330 km southeast of Reno and 80 km south of Tonopah in southern Nevada, USA.

Notably, Global is free carried at the Tokop Gold Project is funded by Canadian gold producer Osisko Mining Corporation (TSE: OSK), which is earning an initial 45% interest by spending US$8 million by March 2016 and has the option to increase that to 70% by completing a feasibility study.

The maiden seven hole drilling program had intersected multiple wide zones of gold mineralisation including:

-    12.2 metres at 2.5 grams per tonne gold and 10g/t silver from 59.4 metres;
-    18.8 metres at 1.3g/t gold, 5g/t silver from 80.8 metres;
-    27.4 metres at 0.8g/t gold, 9g/t silver from 233.2 metres; and
-    21.3 metres at 0.6g/t gold from 94.5 metres.

This are consistent with previously reported surface trench results of 18 metres at 1.9g/t gold, 9 metres at 2.1g/t gold and 40 metres at 0.4g/t gold.

Results to date indicate potential for a large, open pittable oxide gold deposit with just a small part of the interpreted 2 kilometre by 1.1 kilometre intrusion tested in the initial drill program.

Further drilling is being planned to follow-up on these initial results which will be interesting no doubt, right now this is a fascinating discovery in Nevada.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 16 Sep 2013 11:40:00 -0400 https://www.proactiveinvestors.com/companies/news/154959/global-geoscience-makes-gold-discovery-in-nevada-48032.html
<![CDATA[News - Global Geoscience to reveal drill results from Tokop gold project in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154958/global-geoscience-to-reveal-drill-results-from-tokop-gold-project-in-nevada-47936.html Global Geoscience (ASX: GSC) launched a maiden drilling campaign at its Tokop Gold Project in Nevada, U.S., last month, with the company now set to reveal drilling results.

The reverse circulation drilling program was to test a strike length of about one kilometre as an initial test of the 2000 metre by 750 metre zone of gold mineralisation.

The ASX has granted the company a trading halt to organise the announcement, with its shares placed in pre-open.

Tokop, and the nearby Excelsior Gold Project, are two tenements the company holds in southern Nevada that have only recently been recognised as intrusion related gold (IRG) systems.

Boosting the prospectivity of Tokop is the similarity of the system to other IRG deposits including Donlin Creek (31Moz), Fort Knox (9Moz) and Dublin Gulch (2Moz) in the Tintina Gold Province of Alaska/Yukon and Bald Mountain (8Moz) in Nevada.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 17th September.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 13 Sep 2013 10:20:00 -0400 https://www.proactiveinvestors.com/companies/news/154958/global-geoscience-to-reveal-drill-results-from-tokop-gold-project-in-nevada-47936.html
<![CDATA[News - Global Geoscience's gold search with Osisko well-underway at Tokop in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154957/global-geosciences-gold-search-with-osisko-well-underway-at-tokop-in-nevada-46889.html Global Geoscience (ASX: GSC) is continuing to advance the company's maiden drilling program at its Tokop Gold Project, which is located in the stable operating environment of Nevada, U.S.

Importantly GSC has an experienced partner in Canadian gold producer Osisko (TSE: OSK), a $2.3 billion capitalised company.

Tokop, along with the nearby Excelsior Gold Project, are two tenements held by the company that have only recently been recognised as Intrusion related gold systems.

Adding to the potential of the tenements is that no systematic surface exploration had been undertaken at either project, with the current reverse circulation drilling program being conducted over a wide spacing.

Drilling will test beneath promising trench results including: 18 metres at 1.9g/t gold; and 9 metres at 2.1g/t gold.


Intrusion related gold systems

The size of intrusion related gold systems varies, with some larger examples including Donlin Creek (31Moz), Fort Knox (9Moz) and Dublin Gulch (2Moz) in the Tintina Gold Province of Alaska/Yukon and Bald Mountain (8Moz) in Nevada.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 19 Aug 2013 14:40:00 -0400 https://www.proactiveinvestors.com/companies/news/154957/global-geosciences-gold-search-with-osisko-well-underway-at-tokop-in-nevada-46889.html
<![CDATA[News - Global Geoscience and producer Osisko Mining to drill for gold in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154956/global-geoscience-and-producer-osisko-mining-to-drill-for-gold-in-nevada-46251.html Global Geoscience (ASX:GSC) and its Canadian partner Osisko Mining (TSE:OSK), are to start maiden gold drilling next week at the Tokop gold project in Nevada in the U.S.

Osisko, which has a $1.87 billion market cap, can earn a 45% interest by an exploration funding of US$8 million over 4 years and a further 25% by completing a bankable feasibility study.

The Tokop project is an intrusion related gold (IRG) system with similarities to IRG deposits in the Tintina Gold province of Alaska/Yukon. Projects at Tintina include the 31 million ounce Donlin Creek; 9 million ounce Fort Knox and 2 million ounce Dublin Gulch.

The drilling program will consist of at least five wide-spaced holes over a strike length of approximately 1 kilometres as an initial test of the 2000 metres by 750 metres zone of gold mineralisation.

While no modern exploration or previous drilling is known, rock chip and soil geochemical sampling has defined a gold zone measuring 2000 metres by 750 metres within a broader 2 kilometre by 1 kilometre halo that includes high levels of Ag-As-Bi-Mo-Te-W.

Trenching and channel sampling have returned results including 18 metres at 1.9 grams per tonne gold; 9 metres at 2.1 g/t gold 3 metres at 9.6g/t gold and 40 metres at 0.4g/t gold.

 

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Thu, 01 Aug 2013 16:00:00 -0400 https://www.proactiveinvestors.com/companies/news/154956/global-geoscience-and-producer-osisko-mining-to-drill-for-gold-in-nevada-46251.html
<![CDATA[News - Global Geoscience and Osisko Mining to drill Nevada gold projects ]]> https://www.proactiveinvestors.com/companies/news/154955/global-geoscience-and-osisko-mining-to-drill-nevada-gold-projects-43306.html Global Geoscience (ASX:GSC) is in an enviable position with its Canadian partner, a Osisko Mining Corporation (TSX: OSK) subsidiary fully funding exploration at its Excelsior and Lone Mountain projects in Nevada.

Osisko Mining Corporation is the owner and operator of the 10.1 million ounce Canadian Malartic gold mine in Canada.

Global and Osisko are targeting a shallow, multi-million ounce gold deposit at the Excelsior project in southern Nevada, with similar mineralisation to large, moderate grade gold deposits found in the Tintina Gold Province of Alaska/Yukon.

Some of the finds here have been massive, Donlin Creek (31Moz), Fort Knox (9Moz) and Dublin Gulch (2Moz).

Field work is advanced in Nevada with a focus on further developing the encouraging results from last year’s drilling programs at both projects.

At Excelsior, the aim is to better define gold mineralisation ahead of the next phase of drilling.

To date, wide-spaced drilling has intersected shallow gold mineralisation over a strike length of 2.3 kilometres. A ground magnetic survey has been completed and a resistivity (CSAMT) survey is about to commence.

While at Lone Mountain, 1100 geochemical samples have been collected as follow-up of the new gold anomalies discovered last year.

Results from these are still pending.

No doubt encouraging Osisko Mining is that Lone Mountain appears to share a number of geological similarities with the nearby Carlin Trend where approximately 150 million ounces of gold has been discovered to date.

Global's projects in Nevada are not lacking in potential sizzle factor, as the current program unfolds it should prove fascinating to watch.

 

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Wed, 15 May 2013 14:40:00 -0400 https://www.proactiveinvestors.com/companies/news/154955/global-geoscience-and-osisko-mining-to-drill-nevada-gold-projects-43306.html
<![CDATA[News - Global Geoscience secures funding commitment from Canada’s Osisko Mining ]]> https://www.proactiveinvestors.com/companies/news/154954/global-geoscience-secures-funding-commitment-from-canadas-osisko-mining--41084.html Global Geoscience (ASX: GSC) has successfully negotiated an ongoing funding commitment from Canadian gold producer Osisko Mining (USA) for Global’s three key Nevada gold projects.

Under the deal Osisko can earn an initial 45% interest in the projects by spending US$8 million over four years.

Osisko Mining (USA) is a subsidiary of Osisko Mining Corporation (TSX: OSK), owner and operator of the 10.1 million ounce Canadian Malartic gold mine.

Osisko will be funding gold exploration at the Lone Mt, Excelsior and Tokop projects while Global will pursue the large, untested silver-lead-zinc target at Lone Mt.


Multi-million ounce potential

Global Geoscience is targeting a multi-million ounce shallow gold deposit at the South Jasperoid prospect within the Lone Mt project.

South Jasperoid displays typical Carlin-style gold mineralisation.

A 2 kilometre long zone of anomalous gold-arsenic-mercury-antimony extends along a major fault.

Previous drilling has concentrated on the up-dip area to the west of the fault where the mineralised limestone units are at or near the surface.

Drill results from this area include 4.5 metres at 4.8 grams per tonne (g/t) gold and 21.5 metres at 0.8g/t gold within broad zones of alteration.

The initial drill target is a 700 metre long by 300 metre wide section along the fault where the mineralised limestone dips into and intersects the fault.

Drilling is scheduled to begin toward the end of the June quarter.

A number of unexplained and untested gold geochemical anomalies have been identified at Lone Mt.

The anomalies do not correspond to any of the known prospects and therefore represent high priority targets for further investigation. Follow-up of these anomalies will begin in April.

Global is also targeting a shallow, multi-million ounce gold deposit at the Excelsior project.

Recent work has found that mineralisation is of the intrusion related gold type and similar to large, moderate grade gold deposits found in the Tintina Gold Province of Alaska/Yukon.

These include the 31 million ounce Donlin Creek, 9 million ounce Fort Knox and 2 million ounce Dublin Gulch.

Previous drilling by Global and other companies has intersected ore-grade gold mineralisation over a strike length of 1.3 kilometres.

The shallow plunging mineralisation starts at surface and is oxidised to over 100 metres depth.

Several parallel zones are yet to be drill tested. Wide-spaced scout drilling has extended the zone for a further kilometre to the east with broad intersections of strongly anomalous gold plus arsenic-bismuth-molybdenum-tellurium alteration and quartz veining.

The same type of mineralisation has been traced over a distance of 11 kilometres within the Excelsior project, most of which is untested by drilling.

Magnetic and induced polarisation geophysical surveys will be conducted during the June quarter ahead of the next round of drilling.

The geophysical surveys will assist in mapping the dykes and other intrusive bodies and associated silica-pyrite and skarn (magnetite) alteration.


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Thu, 21 Mar 2013 14:28:00 -0400 https://www.proactiveinvestors.com/companies/news/154954/global-geoscience-secures-funding-commitment-from-canadas-osisko-mining--41084.html
<![CDATA[News - Global Geoscience identifies two new drill targets in U.S. ]]> https://www.proactiveinvestors.com/companies/news/154953/global-geoscience-identifies-two-new-drill-targets-in-us-40187.html Global Geoscience (ASX:GSC) has identified two new polymetallic targets at its Lone Mountain project in Nevada.

The Rip Van Winkle prospect includes a 1500 metres long silver-lead-zinc target, which is largely untested.

It is centred on the historic Rip Van Winkle mine which found high grade  silver, lead and zinc ore from surface to 150 metres depth.

Two holes drilled by Global in mid-2012 tested the central area and intersected significant mineralisation including 71.6 metres at 33.5 grams per tone silver, 0.47% lead and 1.25% zinc including 16.8 metres at 78.1g/t silver.

Mineralisation is open to the north and south and at depth. The new zone discovered, which is 2 kilometres long, is about 2 kilometres to the southwest of Rip Van Winkle.

It has also identifed another gold drill target at its South Jasperoid prospect.  The 700 metres by 300 metres target coincides with a strong Au-As-Hg-Sb surface geochemical anomaly along a major fault.

Adjacent drill holes intersected Carlin-style gold mineralisation including 4.5 metres at 4.8g/t Au and 21.5m at 0.8g/t Au.

The work program for this year field season includes about 4000 metres of reverse  circulation drilling at Rip Van Winkle silver-lead-zinc prospect, as well as infill surface geochemistry at Rip Van Winkle South followed by RC drilling, if needed.

It will also involve about 2000 metres of RC drilling at South Jasperoid.

Global Geoscience is targeting gold, copper and silver on its mostly 100%-owned projects in Nevada and Arizona in the United States, and Peru in South America.

Gold exploration at the Lone Mountain project is fully-funded by Osisko Mining, a subsidiary of Canadian gold producer, Osisko Mining Corporation (TSX:OSK).

Osisko may earn an initial 45% ownership interest in any or all of the projects by funding US$8 million over a maximum of four years. Global is operator and manager during this phase.
 

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Thu, 28 Feb 2013 12:00:00 -0500 https://www.proactiveinvestors.com/companies/news/154953/global-geoscience-identifies-two-new-drill-targets-in-us-40187.html
<![CDATA[News - Global Geoscience finds significant gold potential at Nevada project ]]> https://www.proactiveinvestors.com/companies/news/154952/global-geoscience-finds-significant-gold-potential-at-nevada-project-39564.html Global Geoscience (ASX:GSC) has identified the Excelsior Gold project in Nevada as a instrusion related gold system, that indicate a large gold deposit target.

Recent wide spaced drilling intersected broad zones of low-grad gold coincidental with high levels of As, Bi, Mo and Te within strongly altered and quartz-veined country rock.

There appear similarities between Excelsior and major IRG deposits in the Tintina Gold province of Alaska/Yukon, which include the 31 million ounce Donlin Creek, 9 million ounce Fort Knox and 2 million ounce Dublin Gulch deposits.

Previous drilling at Buster zone also intersected ore grade mineralisation including 33.5 metres at 2.7 g/t gold from 70.1 metres; 47.3 metres at 1.5g/t and 48.8 metres at 0.8g/t gold.

Recent drilling by Global in late 2012 targeted Mo-Bi-Te surface geochemical anomalies to the east of the known mineralisation and previous drilling. Eight wide-spaced RC holes were completed for a total of 1976 metres.

Previous exploration by Global and others has identified significant ore-grade gold mineralisation over a strike length of 1.5 kilometres at depths of less than 100 metres and entirely within the zone of complete oxidation.

The Excelsior Gold project is located in the Walker Lane Tectonic Zone of southern Nevada. Global and Osisko are earning a 70% interest in the project by spending $3 million on exploration over four years.

The target at Excelsior is a multi-million ounce gold deposit.

Future work include aeromagnetic survey, deep looking induced polarisation survey and drilling.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 14 Feb 2013 13:10:00 -0500 https://www.proactiveinvestors.com/companies/news/154952/global-geoscience-finds-significant-gold-potential-at-nevada-project-39564.html
<![CDATA[News - Global Geoscience to start second phase drilling at Nevada gold project ]]> https://www.proactiveinvestors.com/companies/news/154951/global-geoscience-to-start-second-phase-drilling-at-nevada-gold-project-34789.html Global Geoscience (ASX: GSC) and Canadian gold producer Osisko Mining Corporation (TSX: OSK) have committed to a second phase of drilling at the Lone Mt gold project in Nevada

This follow encouraging results achieved from recently completed drilling as well as geophysical and geochemical surveys that highlighted a number of highly prospective targets.

These include the Monarch target that is a possible continuation of Rip Van Winkle polymetallic lead-zinc-silver-gold mineralisation found 2 kilometres to the south though Monarch appears to be more-gold rich.

Global’s drilling will also test several copper-gold-silver bearing skarn bodies, including the NW skarn, a 1200 metre by 300 metre magnetic body 120 metres below surface that has never been drill tested.

Exploration at Lone Mt and Globals’ other Nevada gold projects is fully funded by Osisko to US$8 million.

This will give Osisko, a $4 billion market cap, a 45% interest in the five projects that it can increase to 70% by sole funding a bankable feasibility study.

 

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Tue, 23 Oct 2012 08:20:00 -0400 https://www.proactiveinvestors.com/companies/news/154951/global-geoscience-to-start-second-phase-drilling-at-nevada-gold-project-34789.html
<![CDATA[News - Global Geoscience drilling to follow up high grade silver in Peru ]]> https://www.proactiveinvestors.com/companies/news/154950/global-geoscience-drilling-to-follow-up-high-grade-silver-in-peru-28845.html Global Geoscience (ASX: GSC) is following up on an initial intercept of 16.4 metres at 410 grams per tonne silver at the Sara Sara copper silver project in Peru, with drilling underway.

The 2,000 metre reverse circulation drilling program will target high grade mineralisation at Sara Sara, which remains open in all directions.

Sara Sara covers 65 square kilometres at the northern end of the Andean porphyry copper belt, which produces a large proportion of the world’s copper and molybdenum.

It will be the first of a number of high priority targets to be drill tested over the next few months.

Other targets include the Lone Mt, Excelsior and Bartlett gold projects in Nevada. Exploration on these projects will be fully funded by Canadian mining company Osisko Mining Corporation.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 14 May 2012 14:00:00 -0400 https://www.proactiveinvestors.com/companies/news/154950/global-geoscience-drilling-to-follow-up-high-grade-silver-in-peru-28845.html
<![CDATA[News - Global Geoscience marking out drill targets at Lone Mountain gold project in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154949/global-geoscience-marking-out-drill-targets-at-lone-mountain-gold-project-in-nevada-25732.html Global Geoscience (ASX:GSC) has identified a number of drill targets at its Lone Mountain gold project in Nevada after carrying out a gravity survey.

The previously unrecognised structures and related alteration zones occur at shallow depth and have potential to host Carlin-style gold mineralisation.

These targets may be drilled under a program funded by Canadian gold producer, Osisko Mining Corporation (TSE:OSK), as part of its farm-in to the project.

Under the farm-in agreement, Osisko – which has a market capitalisation of over C$4.5 billion (A$4.2 billion) – will fund all exploration on Global’s Nevada gold projects, and can earn an initial 45% interest in the projects by spending US$8 million on exploration over a maximum of four years. 

Global will manage and operate all of the projects during this phase.
 
Lone Mountain is located about 35 kilometres north north-west of the town of Elko. The Carlin trend deposits are about 35 kilometres to the south west while the Jerritt Canyon deposits are located 30 kilometres to the north.

Large sediment-hosted gold deposits (Carlin-style) of northern Nevada are largely restricted to Siluro-Devonian carbonate dominated sedimentary rocks that occur in the lower plate (footwall) of the Roberts Mountain Thrust.

The favourable rocks are exposed in a number of structural ‘windows’, one of which is covered by the 35 square kilometre Lone Mountain project.

Global had previously said the area was underexplored with only four drill holes as well as surface geology and geochemistry carried out in the last 13 years.

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Mon, 27 Feb 2012 13:50:00 -0500 https://www.proactiveinvestors.com/companies/news/154949/global-geoscience-marking-out-drill-targets-at-lone-mountain-gold-project-in-nevada-25732.html
<![CDATA[News - Global Geoscience not dogged by rains at its Sara Sara project ]]> https://www.proactiveinvestors.com/companies/news/154948/global-geoscience-not-dogged-by-rains-at-its-sara-sara-project-13256.html Global Geoscience (ASX: GSC) has said that "no rain is good news" at its 100%-owned Sara Sara porphyry copper-molybdenum project in southern Peru.

During the wet season conditions have been drier than expected and the company is now looking to continue drilling well into February.

The company has recently completed hole KPD4 to a total depth of 495 metres and assays are pending.

Drilling of hole KPD5 has commenced and is currently at a depth of 446m and continuing. Upon completion of KPD5, hole KPD6 will be drilled.

In addition, Global has announced the completion of sequential copper analysis on the copper-bearing intersections in holes KP14, KP20 and KPD3.

Thirty-one samples with total copper contents greater than 0.1% were reanalysed using a sequential leach method.

The results show that 81-99% (average 92%) of the copper in these samples is leachable (by acid and cyanide) and confirm that chalcocite is the dominant copper mineral present in these samples.

All samples from KPD4 have been submitted to the laboratory and results are expected to be available by the end of January.

A further 120 samples (nominally 3 metres each) from hole KPD5 have been received at the laboratory and are awaiting processing.

The project lies at the northern end of the Andean porphyry copper belt which produces a large proportion of the world’s copper and molybdenum.

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Thu, 20 Jan 2011 14:45:00 -0500 https://www.proactiveinvestors.com/companies/news/154948/global-geoscience-not-dogged-by-rains-at-its-sara-sara-project-13256.html
<![CDATA[News - Global Geoscience sampling results expand copper gold zone at Bartlett Peak in Nevada ]]> https://www.proactiveinvestors.com/companies/news/154947/global-geoscience-sampling-results-expand-copper-gold-zone-at-bartlett-peak-in-nevada-12320.html Soil and rock surface sampling by Sydney-based gold and copper explorer Global Geoscience  (ASX: GSC) has further extended the copper-gold zone at its 100%- owned Bartlett Peak project in Nevada, USA, by 400 metres to over 1000 metres in strike length.

Copper soil samples generally exceeded 75ppm copper (and up to 263ppm copper) over an area of about 400m by 1,000m which coincides with porphyry-style altered rock. This zone also contains soil samples containing up to 0.225ppm gold and 19ppm molybdenum.

Rock chip sampling in the zone of the soil anomaly and along strike obtained variable grades of a number of metals including copper, gold and molybdenum. Values include up to 1.5% copper, 0.55g/t gold and 20.8g/t silver in a rock chip grab sample.

The Bartlett Peak project has the potential to contain a large tonnage of porphyry-style coppergold mineralisation and the company plans to drill test the anomaly after first completing an induced polarisation (IP) geophysical survey.

The IP survey will assist in targeting the drill holes and is planned for early in 2011 as weather conditions improve. Subject to favourable results, a drilling program will follow the geophysical survey.

The Bartlett Peak project is located in Nevada, one of the largest gold producing provinces in the world, and about 70km northwest of the Sleeper Mine (Past production and Resources of three million ounces gold).

Global holds a 100% interest in the 8.1 square kilometre property through its local subsidiary company.

The Bartlett Peak project is located 120 km northwest of Winnemucca, Nevada. The project area, which lies adjacent to an all-weather gravel road, is covered by unpatented claims wholly owned by Global through a local subsidiary company.

On November 10 Global Geoscience announced it will recommence diamond drilling at its Sara Sara porphyry copper-molybdenum project in southern Peru, having secured a diamond drill rig under contract.

GSC has a market capitalisation of 8.42 million and had A$279,000 cash at the end of the September quarter.

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Mon, 06 Dec 2010 12:35:00 -0500 https://www.proactiveinvestors.com/companies/news/154947/global-geoscience-sampling-results-expand-copper-gold-zone-at-bartlett-peak-in-nevada-12320.html
<![CDATA[News - Global Geoscience to recommence drilling at Sara Sara copper project ]]> https://www.proactiveinvestors.com/companies/news/154946/global-geoscience-to-recommence-drilling-at-sara-sara-copper-project-11584.html Sydney-based Global Geoscience (ASX: GSC) will recommence diamond drilling at its Sara Sara porphyry copper-molybdenum project in southern Peru, having secured a diamond drill rig under contract.

Drilling is expected to start in mid-November and the company plans to drill up to four 800m deep diamond drill holes to test the porphyry copper target identified during the last drill program.

In September and October the company announced encouraging drill results which indicate the presence of a large porphyry copper target adjacent to previous drilling.

On September 29, GSC discovered high grade silver (Ag) mineralisation from the Kapish prospect at Sara Sara  with 410 grams per tonne silver over 16.35 metres.

Bernard Rowe, managing director, said “we are very eager to get back to Sara Sara and follow-up the broad zones of copper and high grade silver mineralisation intersected in the previous drill program."

"The results achieved to date clearly demonstrate the potential for a large porphyry copper system and this upcoming diamond drilling program will test that concept.”

GSC has a market capitalisation of A$9.41 million and had A$279,000 cash at the end of the September quarter. GSC shares rose 18% to 9.5 cents in trading today.


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Wed, 10 Nov 2010 16:11:00 -0500 https://www.proactiveinvestors.com/companies/news/154946/global-geoscience-to-recommence-drilling-at-sara-sara-copper-project-11584.html
<![CDATA[News - Global Geoscience adds to cash coffers ]]> https://www.proactiveinvestors.com/companies/news/154945/global-geoscience-adds-to-cash-coffers-3387.html Sydney-based Global Geoscience (ASX: GSC) has placed 8.929 million shares at $0.10 each to a number of sophisticated investors.

Funds raised of $890,000 will be applied to drilling programs on priority gold and coppergold projects in Peru and North America - including the recently granted Sara Sara porphyry copper-molybdenum target in Peru.

Bernard Rowe managing director of Global said the funds raised would assist "as drilling on several of our key copper and gold exploration targets, including the large porphyry coppermolybdenum target at Sara Sara in Peru, will soon commence."

The funds raised would also assist to fast track several of our other copper and gold projects to drill stage.

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Fri, 20 Nov 2009 06:32:00 -0500 https://www.proactiveinvestors.com/companies/news/154945/global-geoscience-adds-to-cash-coffers-3387.html
<![CDATA[News - Global Geoscience prepares to drill test Sara Sara porphyry copper-molybdenum project ]]> https://www.proactiveinvestors.com/companies/news/154944/global-geoscience-prepares-to-drill-test-sara-sara-porphyry-copper-molybdenum-project-3227.html Sydney-based Global Geoscience (ASX: GSC) has released plans to drill test a porphyry copper-molybdenum target at its Sara Sara project in southern Peru, following grant of the tenements and receipt of confirmatory new rock chip and soil sample results.

“With the tenements granted, we can now move to drill testing this exciting new prospect,” Bernard Rowe, managing director of Global Geoscience, said.

“The latest rock chip and soil sample results provide added confidence that we are in the centre of a large porphyry-style mineralised system and the next step for us will be to drill some widespaced holes to test this concept."

The Sara Sara project is located about 500km southeast of Lima and 100km from the coast, midway between the villages of Cahuacho and Pausa in the Department of Arequipa. Access to the area is via 10km of gravel road from Cahuacho and 4km of walking track, which can be easily upgraded to provide for drill rig access.

Global said the new rock chip and soil sample results had added further support to the concept that the Sara Sara project represents a large and previously untested porphyry coppermolybdenum target. The increased density of geochemical data has allowed focussing to define several drill targets.

The new rock chip and soil samples were collected from within the 10 sq km alteration zone recognised and mapped by Global. Surface geochemical samples now define concentric zones, which is typical of many porphyry copper-molybdenum-gold systems.

A central zone contains soil and rock chip samples with high molybdenum values (up to 449ppm Mo in rock and 221ppm in soil) and anomalous gold and arsenic.

Within this central zone soil and rock values exceed 100ppm Mo over a strike length of 350m and width of 60m. Rock values are contained within altered, brecciated volcanic rock containing 5 to 15% casts after weathered sulphide minerals.

The molybdenum-rich zone is surrounded by a partially continuous, annular zone of anomalous copper. The zone is generally about 200m wide and has a total length of over 2km. Soil samples generally contain over 75ppm Cu. Rock textures also indicate significant sulphide content, below the zone of oxidation.

Outer zones near the limits of the alteration system are anomalous in silver, zinc and bismuth. The distinct metal and alteration zonation is comparable in surface extent and style to that typically observed around many large porphyry copper deposits. Both the molybdenum and copper-rich zones represent drill targets.

Global Geoscience was recently advised of the grant of the first three tenements (18 sq km) which cover the central and most prospective part of the large alteration/geochemical anomaly. Global has a further 18 square kilometres of applications in the area.

In total 346 soil and 68 stream sediment samples have been collected.

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Wed, 11 Nov 2009 08:56:00 -0500 https://www.proactiveinvestors.com/companies/news/154944/global-geoscience-prepares-to-drill-test-sara-sara-porphyry-copper-molybdenum-project-3227.html