UK Update: KAZ, Vast Resources, Yamana, Greatland Gold, Redrock Resources and EVRAZ
(Kitco News) - A round up of the latest news from the UK listed miners including KAZ, Vast Resources, Yamana, Greatland Gold, Redrock Resources and EZRAZ
Kaz Minerals (+0.02%) - Company announced they would be taken over yesterday so this report is not really too important in comparison.
- All metals on track to achieve or exceed FY production guidance, assuming no new material Covid-19 impact
- There has been no major impact to the Group's operations or sales in Q3 from COVID-19
Vast Resources plc (-0.59%) - Company reported a 16.4% decrease in losses after taxation from continuing operations in the period ($8.3 million) compared to the thirteen-month period ended 30 April 2019 ($10.0 million). Not too much else from the report of note.
Greatland Gold (+4.47%) - Potential New Eastern Breccia Target at Havieron
- Drilling since May 2019 has outlined an ovoid-shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m trending in a north west orientation.
- Breccia mineralisation was initially identified internal to the Crescent sulphide zone but most recently has also been recognised external to the Crescent sulphide zone on the east, north-west and south-east.
- 120.7m @ 9.3g/t Au and 0.18% Cu from 1349.3m, including 26.6m @ 34g/t Au and 0.23% Cu from 1384.4m
- A potential new fourth target area, the "Eastern Breccia", has been identified by growth drilling from two drill holes, including 342.2m @ 2.0g/t Au, 0.11% Cu from 1536.8m (HAD084). Encouragingly, the new Eastern Breccia highlights the potential for a new region of breccia development not previously recognised and extends mineralisation externally to the ovoid-shaped Crescent sulphide zone.
Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: "We are delighted by the latest set of excellent drilling results at Havieron, including the best intercept at the project to date, which further reinforce the potential for a bulk tonnage mining operation at Havieron. Exploration at Havieron has now identified four key target regions, including the new Eastern Breccia, which was identified by two of the step-out drill holes reported today. Importantly, the footprint of Havieron continues to expand and breccia mineralisation has now been identified outside of the ovoid-shaped Crescent sulphide zone to the east, north-west and south-east.
Yamana Gold (US and CA listed) (UK listing up 0.71%) - Update on exploration at Canadian Malartic
- An ongoing C$24 million drill program has added 44 new pierce points this year within the mineral envelope at East Gouldie, providing data for a rapidly growing mineral resource model with spacing between pierce points of 150 metres or less.
- Mineralization is currently defined over 1,400 metres of strike length and a 1,200-metre vertical interval and remains open at depth.
- The report said "The strong results confirmed expected grades and widths of East Gouldie mineral inventories, while also confirming that the zone is open at depth, providing confidence to proceed with an exploration ramp that will allow tighter definition drilling on the Odyssey, East Malartic, and East Gouldie zones from underground drill platforms, and eventually be used to mine and haul mineralization from the upper zones."
EVRAZ (+0.53%) - Trading update for the third quarter of 2020.
- In Q3 2020, EVRAZ' consolidated crude steel output fell by 4.4% QoQ
- Total sales of steel products decreased by 9.5% QoQ.
- Sales of finished products increased by 5.7% QoQ amid better market conditions in Russia and an improved product mix.
- Sales of iron ore products surged by 9.0% QoQ amid higher shipments to export markets in Q3 2020
- All-round decent report not massively taken out by COVID-19.
Red Rock Resources (0%) - Update on Kenya operations
- Red Rock Chairman Andrew Bell comments "We must now rapidly set about the business of expanding our 1.2m oz initial gold Resource, as North Mara has expanded its resource to our south and as Shanta is doing so to our north. This is a highly prospective belt".
- Repair and refurbishment of the exploration camp, which included repair of electric and plumbing facilities, masonry and timber work, gate and fencing repair, roof repair, painting, and installation of 4G, is being completed this week.