LNU - Linius Technologies - Aussie Stock Forums

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  1. #1

    Post LNU - Linius Technologies

    Firestrike Resources Limited (FIE) is a Western Australian based mineral exploration company focused on exploring and developing mineral assets. On 9 March 2011, Firestrike signed letter agreements with:

    • Pacrim Energy Limited (Pacrim) to acquire 100% of the Grants Creek and Angelo gold projects, both located within the Kimberley region of Western Australia; and
    • Minico Pty Ltd (Minico) to acquire 100% of the Elaine gold project (Elaine Project) near Ballarat in Victoria.

    The core strategy is to actively explore the prospects with a view to identifying economic deposits of gold within the concession areas.


  2. #2
    Make the drill work for YOU springhill's Avatar
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    Jun 2007
    Mental Institution

    Default Re: FIE - Firestrike Resources

    MC - $1.5m
    SP - 7.5c
    Shares - 22m
    Options - Nil quoted
    Cash - $2.3

    Strong gold and copper results in surface samples
     Surface sample results confirm the intended ‘Coronado trend’ drill target as a gold rich broad fissure zone with maximum value of 9.3 g/t of gold.
     Second prospect (Incan/Humbolt) returns maximum value of 21.0 g/t of gold and 3.94% copper.
     Regional sampling at other prospects identified elevated copper and zinc in samples presenting further suitable targets for drilling.
     Results combined with historical data and field mapping supports inference that major mineralised porphyry system present.
     Company is expecting to commence approximately 4,000 metres reverse circulation drilling at the Coronado Prospect in September 2012.

    Elephant Canyon gold copper project (JV with Escalante Star LLC in which Firestrike Resources Limited can earn up to 80%)
    The company has successfully completed a joint venture agreement in which Firestrike Resources Limited can earn up to 80% of the equity in the Elephant Canyon gold copper porphyry project in Utah USA.
     secure an initial 51% of the project by defining 500,000 ounces gold equivalent inferred JORC resource within 4 years;
     Increasing to 65% equity once a 1 million ounce resource is defined;
     Increasing to 80% on completion of a Prefeasibility study provided Firestrike continues to sole fund the project.
    In exchange FIE will issue up to 7 million shares in FIE in total assuming all milestones are met. An initial payment of $US100,000 plus 1 million shares has already been made as part to the total transaction to the vendors on signing the JV.
    The Company believes this project has significant potential for gold, copper plus other base and precious metals. It is geologically similar to the Rio Tinto mine at Salt Lake City (Bingham Canyon/ Kennecott), and the Tintic mining district. This mine has been in production for over 100 years and is reported to generate over 300,000 tons of copper and 400,000 ounces of gold every year. As of 2010, ore from the mine has yielded more than 19 million tons of copper, 23 million ounces of gold, 190 million ounces of silver, and 850 million pounds of molybdenum. It is one of the largest copper mines in the world.

    Grants Creek Project (100% Firestrike Resources Limited)
    Currently the company is still in the process of completing statutory requirements in preparation for a possible drill programme and is looking now to commencing drilling within the second half of 2012

    Angelo Project, Halls Creek (100% Firestrike Resources Limited)
    In conjunction with the ongoing work for Grants Creek, the Angelo Project is also progressing towards drilling with the anticipation that a Heritage Survey will be completed in time to allow drilling to start now within the second half of 2012. Work is progressing on completion of the statutory access requirements and provisional aircore rigs are currently being sought to meet with the company’s new timetable.

    Elaine Project, Ballarat (Firestrike Resources with an Option to acquire 100%)
    Whilst the company is focused on completing the Joint Venture on the Elephant Canyon project in USA, recent exploration work on the Elaine project has continued to refine the drill target within the southern area of the tenement. In fill soil sampling has been completed and rock chip sampling along the road cutting where the vein system is exposed has refined targets within this southern area of the tenement.
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    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3

    Default Re: LNU - Linius Technologies

    On April 28th, 2016, Firestrike Resources Limited (FIE) changed its name and ASX code to Linius Technologies Limited (LNU).

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