AHK - Ark Mines

Ark Mines Limited (AHK) is a mining exploration company with a focus on gold, copper, zinc, iron and rare earth elements in the Lachlan Fold Belt, New South Wales.

http://www.arkmines.com.au

Ark Mines (AHK) has geared up to commence the second phase of drilling at the Gunnawarra nickel cobalt project in Queensland.

The company has executed a drilling contract with Australian Exploration Drilling (AED) to launch a 1500-metre reverse circulation drill program next week.

Good evening

According to AHK, the Company’s exploration 100% owned portfolio:

• Sandy Mitchell Rare Earth and heavy Mineral Project

Ark has recently acquired the 147km2 EPM 28013 ‘Sandy Mitchell’ – an advanced Rare Earths Project in North Queensland with additional 138km2 of sub blocks under application.
Project contains all critical Light Rare Earths as well as Heavy Rare Earths including dysprosium (Dy), terbium (Tb), holmium (Ho), erbium (Er), thulium (Tm) ytterbium (Yb), yttrium (Y) and excluding only Lutetium
Up to 25% of the TREO is Nd and Pr (magnet metals)
Rare Earths at ‘Sandy Mitchell’ are amenable to panning a concentrate; Planned low-cost, fast start up, straightforward beneficiation by gravity processing.

We remain of the view that the Rare Earth placer sand deposit package at Sandy Mitchell is highly prospective, with assay results and metallurgical studies to date indicating we have a unique rare earth deposit which is amenable to simple mining, gravitational beneficiation and marketing from a sand which carries both Rare Earth and Heavy minerals from surface to approximately 12m over an extensive area in North Queensland.” Roger Jackson, Executive Chairman.

• Mt Jesse Copper-Iron project

Project covers a tenure area of 12.4km2 located ~25km west of Mt Garnet
Centered on a copper rich magnetite skarn associated with porphyry style mineralization
Three exposed historic iron formations
Potential for near term production via toll treat and potential to direct ship

• Gunnawarra Nickel-Cobalt Project

Comprised of 11 sub-blocks covering 36km2
Borders Australian Mines Limited Sconi project - the most advanced Cobalt-Nickel-Scandium project in Australia Potential synergies with local processing facilities with export DSO Nickel/Cobalt partnership options

• Pluton Porphyry Gold Project

Located ~90km SW of Cairns near Mareeba, QLD covering 18km2
Prospective for gold and associated base metals (Ag, Cu, Mo)
Porphyry outcrop discovered during initial field inspection coincides with regional scale geophysical interpretation

• Shares on issue 55,150,403 ;
• Market capitalisation is $11.03M;
• 3 quarters of estimated funding left in the kitty.

Going to watch this one some more.


rcw1 likes that Mitchell and Palmer Rivers country, big time, particularly Mitchell River, West Coast, Gulf of Carpentaria, pristine, could live there in the rcw1 swag and mossie net, alone forever, and live off eating the fish. Oh ... how would rcw1 gamble and trade?? Hope AHK looks after the country in which it mines.

Red Dome mine kicked off in the mid 80's, about 30 km west of Chillagoe, shut up shop around 1997 after producing about 1 million ounces of gold and 35,000 tonnes of copper. Done some work out that way once upon a time.

Not holding

Kind regards
rcw1

Hmm, up 16% today .. one for the RE list. Haven't looked much into it but I like anything ultra shallow with no overburden

Not Held

From Australian Mining :

"The exploration target includes a basket of heavy minerals totalling 15.6–22.3 million tonnes, including monazite, xenotime, zircon, rutile and ilmenite.

A total of 24 per cent of the target also comprises magnet rare earths such as neodymium, praseodymium, dysprosium and terbium, positioning Sandy Mitchell as one of Australia’s most enriched magnet rare earth oxide deposits.

To further demonstrate Sandy Mitchell’s potential, Ark Mines has commenced a pre-feasibility study that is expected to be reported in the fourth quarter of 2024."

WEEKLY - today not updated

rcw1 said:

According to AHK, the Company’s exploration 100% owned portfolio:

• Sandy Mitchell Rare Earth and heavy Mineral Project

Click to expand...

others are looking at AHK. ✔...
MC of $14M ...their shift has been to Sandy Mitchell; early days


SIGNIFICANT EXPLORATION TARGET DEFINED AT SANDY MITCHELL RARE EARTHS PROJECT
• Following its Maiden Indicated Mineral Resource estimate Ark has undertaken an extensive reconnaissance drilling programme and, as a result, now is able to assess an exploration target range for the Sandy Mitchell tenement.
• The Exploration Target estimated for Sandy Mitchell: 1.3 billion tonnes to 1.5 billion tonnes @ 1250 to 1490 ppm monazite equivalent. The potential quantity and grade of the Exploration Target is conceptual in nature; there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in estimation of a Mineral Resource.
• Exploration Target places Sandy Mitchell as potentially one of the world’s largest surface-expressed terrestrial Placer Rare Earth projects.
• The Exploration Target considerably builds on the recently announced Maiden Indicated Mineral Resource Estimate of 21.7Mt @ 1,419ppm Monazite Equivalent calculated using a 700ppm MzEq lower cut-off grade.
• The Exploration Target, like the resource, is based on mineralisation from surface down to an average depth of ~11metres.
Therefore, there is no overburden removal, simple mining and low environmental impact with very affordable development.

Being a rare earth's miner stiil in progress, this stock caught my attention because it's been trending higher since August. The stock price has risen about 94% since August, the uptrend is clearly visible in the 3 year price chart. The company was recently awarded 4.5 million dollars by Queensland critical minerals and battery technology which is owned by the Queensland government to advance Sandy Mitchell project near Cairns. Ark mines is now fully funded to advance its near term works program for the rest of 2025. The flagship mining project isn't slated to go into full production until late 2027.

In the meantime cash in hand as of June 2025 was $1.6 million dollars, Market cap is $10 million. Te company has a high level of debt which would worry me if I actually owned it. Despite near term weakness with the stock price I predict the up trend will continue in October which was the reason why I picked it for October comp.

@joeblow