According to Mining.com, drilling by Canadian exploration enterprise San Lorenzo Gold at the Arco de Oro target within the Salvadora project in Chile indicated that the property may host several copper-gold deposits. San Lorenzo said on Friday (8th) that drill hole SAL-10-25 intersected 102 meters of mineralization at a depth of 153 meters with a gold grade of 1.33 g/mt, including 13 meters at the same depth with a gold grade of 2.21 g/mt. Nearby drill hole SAL-09-25 intersected 59 meters of mineralization at a depth of 238 meters with a gold grade of 1.07 g/mt, including 11 meters at a depth of 270 meters with a gold grade of 3.78 g/mt. "These drill holes indicate a larger mineralization system at Arco de Oro than previously recognized," said Terence Walker, Vice President of Exploration. "We appear to be entering the upper portion of a gold-rich porphyry copper-gold system that requires follow-up drilling." Calgary-based San Lorenzo has become one of the best-performing junior exploration companies on the Toronto Venture Exchange this year, with a series of discoveries at its Salvadora project in the Atacama Region of northern Chile. The project covers more than 90 square kilometers and is located approximately 15 kilometers from Codelco's long-producing El Salvador copper mine. Infrastructure including roads and power is well-established, with access to nearby mining services. Five Targets Arco de Oro is one of five porphyry and epithermal deposit targets at the Salvadora project. Earlier this year, early-stage drilling at the Cerro Blanco target intersected gold mineralization on multiple occasions, attracting investor attention and financing. In March, San Lorenzo raised approximately $20 million through a private placement to fund further exploration at Salvadora. San Lorenzo has been steadily expanding the extent of the deposit. Two months ago, the company added 29 square kilometers near Cerro Blanco by acquiring three nearby Rubi blocks and signing an option agreement. San Lorenzo said the geological setting at Salvadora is similar to other Andean porphyry deposits in Chile. Management noted that the broad mineralization intersections and multiple targets suggest the potential existence of a large-scale copper-gold mineralization system. Assay results from other drill holes at Arco de Oro have not yet been completed, and the company will continue drilling to verify the extension of the ore body, which remains open in all directions.

Meridian Mining (TSX, LSE: MNO) has successfully commenced trading on the London Stock Exchange’s Main Market after raising £25 million ($34 million), a strategic move aimed at securing future inclusion in the FTSE All-Share and FTSE 250 indices. The capital injection will accelerate the development of its Cabaçal gold-copper project in Mato Grosso, Brazil, an advanced-stage open-pit operation with an estimated post-tax IRR of 61% and a net present value of US$984 million. This London listing expands the company's global footprint beyond Toronto and Frankfurt, positioning the Cabaçal volcanogenic massive sulphide deposit as a scalable platform for the company's South American growth strategy.

Copper-silver mine developer Lumina Metals Corp. and Sitka Foundation plan to issue 27.5 million shares at a price of C$12.5 per share, with a planned listing in Toronto.

On December 1st, Endeavour Silver Corp. announced the launch of a private offering of US$300 million in unsecured convertible senior notes due 2031, with an option for initial purchasers to buy an additional US$45 million. The company plans to use the proceeds to repay its senior secured credit facility with ING Capital and Societe Générale, to advance the Pitarrilla silver project in Durango, Mexico, and for general corporate and strategic purposes. The Notes will pay semi-annual cash interest at a fixed rate and will be convertible into Endeavour common shares. They may be redeemed by the company under certain conditions, while holders will also have the right to require repurchase upon specified events. The Offering is subject to customary closing conditions, including approvals from the Toronto Stock Exchange and New York Stock Exchange. The Notes and underlying shares are unregistered under U.S. and Canadian securities laws and will be offered only to qualified institutional buyers (Rule 144A) in the U.S. and non-U.S. investors under Regulation S.

[Surg e Battery Metals PEA Reveals US$9.2 Billion Nevada Lithium Project] Surg e Battery Metals (SBM) has released a Preliminary Economic Assessment (PEA) for its North Nevada Lithium Project (NNLP), outlining the project's potential to become a low-cost, long-life producer of battery-grade materials for the US market. The PEA, jointly completed by M3 Engineering & Technology Corporation and Independent Mining Consultants, is based on a two-phase construction of the lithium plant to support a conventional open-pit mining operation projected to last 42 years. The report indicates that approximately 205 million mt of mineralized material will be mined over this period, with an average lithium grade of 4016 ppm. Mining will commence from the shallow, high-grade portion of the resource, which currently has an estimated lithium carbonate equivalent (LCE) of 8.65 million mt. The lithium plant will initially process ore at a rate of 2.58 million mt per year in Phase 1, doubling to 5.15 million mt per year in Phase 2, which is expected to come online in Year 4, resulting in an average throughput of 4.88 million mt per year over the life of the mine. Over 42 years, NNLP is projected to produce 86,300 mt of LCE per year, with an average recovery rate of 82.8%. Peak production of 109,100 mt is expected to be reached in Year 6. According to the PEA, the construction cost for Phase 1 is approximately US$2.97 billion, including US$23 million in mine capital expenditure, while Phase 2 is expected to cost an additional US$2.35 billion. Adding US$1.51 billion in sustaining capital, the total project cost will reach US$6.86 billion. Using a base case LCE price of US$24,000 per mt, the study results in an after-tax net present value (at an 8% discount rate) of US$9.21 billion and an internal rate of return of 22.8% for the project. Operating costs are set at US$5,097 per mt of LCE, owing to NNLP's near-surface, high-grade mineralization. The report projects a payback period of 4.7 years for the project. Following the release of the PEA, SBM's share price surged 15.8% to reach CAD$0.33 per share by midday Toronto time, giving the company a market capitalization of CAD$59 million (approximately US$43 million). "NNLP has the potential to become a major low-cost producer of battery-grade lithium carbonate for the US battery industry, and our results today take us a significant step closer to achieving that goal," said SBM CEO Greg Reimer in a press release. "Low operating costs, a good return on investment, and the ability to produce significant quantities of battery-grade lithium carbonate, including a peak of 109,100 mt in a single year, all demonstrate NNLP's first-tier status," he added. Source: mining.com [Zimbabwe to Ban Lithium Concentrates Exports from 2027] Zimbabwe's Minister of Mines, Winston Chitando, announced on Tuesday that the country will ban the export of lithium concentrates starting from 2027 to promote the development of more local processing industries. As Africa's largest lithium producer, Zimbabwe's lithium resources are primarily used in batteries that power renewable energy technologies. In 2022, Zimbabwe banned the export of lithium ore and has been encouraging miners to increase domestic processing. Currently, most of Zimbabwe's lithium mining companies are from China, and they previously mainly exported lithium concentrates to China for further processing. Chitando stated that currently, Bikita Minerals (owned by China's Sinomine Resource Group) and Prospect Lithium Zimbabwe (owned by Zhejiang Huayou Cobalt) are actively developing lithium sulfate plants. Lithium sulfate is an important intermediate product that can be further refined into battery-grade materials, such as lithium hydroxide or lithium carbonate, for battery manufacturing. He pointed out, "As the country's relevant capacity gradually improves, we will completely ban the export of lithium concentrates starting from January 2027." In 2023, Zimbabwe required lithium mining companies to submit plans for building local refineries by March 2024, but this requirement was adjusted due to the sharp decline in metal prices. Sinomine Resource Group and Huayou Cobalt are part of a group of Chinese companies. Since 2021, companies including Chengxin Lithium Group, Yahua Group, and Canmax have invested over $1 billion in total to acquire and develop lithium projects in Zimbabwe. Source: mining.com [Volt Lithium to Deploy Mobile Direct Lithium Extraction Unit in Bakken Region, North Dakota] Volt Lithium Group, soon to be renamed LibertyStream Infrastructure Partners, announced that its proprietary mobile direct lithium extraction ("DLE") unit will undergo final assembly and deployment in the Bakken region of North Dakota, with plans to be put into use in the second half of June 2025. This initiative, in collaboration with Wellspring Hydro ("Wellspring"), has received a total of $2.5 million in funding support from the North Dakota Industrial Commission's Clean and Sustainable Energy Authority and Renewable Energy Program. "Wellspring and the North Dakota government are very excited to commence on-site operations with Volt in North Dakota in the second half of June," commented Mark Watson, President and CEO of Wellspring. "Volt is the only DLE company funded in North Dakota to date," added Mr. Watson. "Based on Volt's successful lithium extraction results at its Calgary R&D facility, both parties are confident in the success of Volt's proprietary lithium extraction unit on-site." The upcoming renaming to LibertyStream Infrastructure Partners reflects the company's strategy of continuing to collaborate with major oilfield infrastructure players in the US, aiming to extract valuable lithium, a critical mineral, from the large volumes of produced water associated with oil and gas production. Key Highlights: Proprietary technology and processes adapt to diverse brine chemistries, facilitating Volt's expansion in the Bakken region of North Dakota. Strategically located in two major oil-producing basins in North America (Permian and Bakken). Permian Potential: Up to 170,000 mt LCE per year. Bakken Potential: Up to 50,000 mt LCE per year, with lithium concentrations nearly three times those of the Permian. Actively building lithium chloride inventory and converting it into high-purity lithium carbonate for potential buyers. Within six months of initial deployment, deployed, expanded, and optimized the largest operational DLE system in North America (over 10,000 barrels per day). Source: junior mining network [Q2 Metals Announces Final Analysis Results of 2025 Winter Drilling Program and Initiates Work on Exploration Targets for the Cisco Lithium Project] Q2 Metals is pleased to announce the remaining analysis results of the 2025 Winter Drilling Program (the "2025 Winter Program") for its Cisco Lithium Project (the "Project" or "Cisco Project") located within the traditional territory of Nemaska in the Eeyou Istchee James Bay region of Quebec, Canada. During the 2025 Winter Program, the Company drilled a total of 14 holes for 6,980 meters, and the analysis results reported herein cover 4,409 meters of drilling data from the last 10 holes. "We are extremely pleased with the final results from these widely spaced holes. Not only did they intercept significant widths and grades, but they also provided us with critical information that will guide subsequent drilling activities. The Cisco Project continues to demonstrate immense potential and is emerging as a significant discovery within one of the world's top mining jurisdictions," said Alicia Milne, CEO and President of Q2 Metals. "We look forward to commencing work on exploration targets, which will provide initial guidance on the potential size, grade range, and relative position of the Cisco Project compared to other major hard-rock lithium projects." "Q2 is in for a busy summer at the Cisco Project. Currently, our team is on-site conducting geological mapping and sampling work, with the first hole expected to commence next week," said Neil McCallum, Vice President of Exploration for Q2 Metals. "The information we have gathered through multiple drilling campaigns is currently under review by BBA Engineering, which is developing an exploration target aimed at quantifying the potential of the main mineralized zones at the Cisco Project. Additionally, three composite samples are undergoing testing by SGS to understand the potential for heavy liquid separation processing capabilities." Hole CS25-028 tested the eastern part of the main mineralized zone and provided additional data for this area. Combined with other drillholes previously drilled in the east, the mineralized zone in this area remains open to the east. Drillhole CS25-030 targeted the deep part of the northern extension of the main mineralized zone, and the results indicate that the mineralized zone is also open in this direction. Drillhole CS25-036 was terminated prematurely before the suspension of the current year's goose hunting season, failing to reach the planned final depth. Nevertheless, the objectives of the drillhole were achieved, intercepting multiple wide pegmatite intervals, which will help determine the geometry of the pegmatite and provide guidance for scale-defining drilling. The drillhole will be restarted during the 2025 summer drilling campaign. Drillholes CS25-029, 031, and 033 targeted the southern extension of the main mineralized zone. Due to a drillhole spacing of 200 meters and a limited number of drillholes on each profile line, pegmatite intervals wider than 100 meters were not intercepted. Although wide pegmatite intervals are expected in this area, further testing is required. It is noteworthy that the pegmatite intervals in the southern drillholes are deeper, and further work will be conducted in this area during the 2025 summer exploration season to test the potential location of the pegmatite plunging to the west. Overall, the main mineralized zone remains open to the south. Drillholes CS25-032, 034, 035, and 037 were used to define the subsurface expression of prominent mineralized carbon dioxide veins. There are still multiple potential directions in this area that have not been tested, requiring further follow-up. Source: junior mining network

According to a report from Mining.com, SolGold, a company primarily engaged in exploration and development in Ecuador, announced that it would voluntarily delist from the Toronto Stock Exchange starting June 18. The miner will continue to be listed on the London Stock Exchange and is also considering a secondary listing on the Australian Securities Exchange (ASX). SolGold, founded in Australia and currently headquartered in London, recently appointed Dan Vujcic as its new CEO. The former investment banker at Morgan Stanley and Citigroup, and most recently the CFO of MAC Copper, stated in an interview earlier this year that the ASX was a "natural home" for the company's copper-gold assets. The company is backed by mining giants including BHP and Newmont. It is currently advancing the development of its Cascabel copper-gold project in northern Ecuador. The project is expected to commence development as early as 2028, three to four years ahead of the previous schedule. The latest strategy involves open-pit development initially, followed by a transition to underground mining. SolGold believes that the scale of Cascabel positions it as a multi-generational asset, capable of ranking among the top 20 copper-gold mines in South America. Strategic Adjustments Accelerating the development plan is part of a broader restructuring by the company, which includes establishing a subsidiary to hold its exploration assets. The company claims to hold over 89 licenses within a high-potential copper-gold target area spanning 3,000 square kilometers. This move comes at a time when the global copper market is tightening, driven by growing demand due to copper's critical role in electrification and the scarcity of new discoveries. SolGold hopes that this restructuring and accelerated development will garner greater investor support, especially amid geopolitical instability and tariff fluctuations affecting global supply chains.