WML - Woomera Mining

[Joe Blow]

Australian-American Mining Corporation (AIW) was previously known as Monaro Mining (MRO).

For previous discussion of this company please see the MRO thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=5620

http://www.monaromining.com

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW are an interesting U exploration company, holding parcels of land with some good upside potential in the US.
They have 2 definate and 1 potential drilling programs coming up subsequently on 15th Aug (at Apex), Sept (at Lowboy) and, with approval expected in Aug, an Oct drilling program in Oct (at Rio Peurco).

At the Apex project ore originally mined from this site was 2400ppm. Current resource grades are conservatively 770ppm, but aim to increase this grade with further drilling. Has a current inferred JORC resource of 950,000 @ 770ppm. Drilling is expected to take 1 month with results due in October.

At Lowboy drilling will test strike, width and depth with a target of 5-15 pounds U3O8. Additional drilling to East zone of Lowboy will target 2-5m pounds U3O8, following the completion of original drilling.
Production target for Lowboy/Apex is second half 2012.

At Rio Peurco target is 20m pounds U3O8. Approval for drilling expected in Aug.

Current SP 5c
MC $8m
Shares on Issue 157m
High/Low 16c/3c
Cash at Hand $936k
Expenses this Quarter $1.37m

Need cash to fund coming drilling programs. Once secured, could be interesting times for AIW and could well worth be keeping an eye on as info will be flowing this quarter.
AIW have a good investor presentation that is worth looking at.
http://www.asx.com.au/asxpdf/20100723/pdf/31rgp8vks9tvp5.pdf

 

[springhill]

Re: AIW - Australian-American Mining Corporation

Since my last post on AIW, my perceived potential of this company has changed remarkably. I am no longer interested in their Uranium projects, but would much rather see them conserve their cash for a far more potentially lucrative drilling program due in 2nd half of 2011.

AIW recently acquired the San Marcos gold project, in Arizona. 86 samples, including; grab, continuous chip, composite and short channel sampling. 28% of samples returned gold assays of >1g/t Au. Best results included 98.2g/t, 52.9g/t, 26.28g/t and 17.44g/t.

Structual setting is similar to that of Copperstone mine situated 48miles WNW where faults hold nearly 1million ounces Au.

SP - 5.6c
MC - $19m
Shares on Issue - 331m
12mt H/L - 10.5/3c
Cash - $7.1m
Expenses this Q - $1.6m ($1m on exploration)

To be honest i couldn't give a rats whizzer about their Uranium prospects, i am purely in for the future Au drilling program and have taken the opportunity to enter on SP weakness due to the Japanese nuclear crisis and with samples like that, why not?

Worth researching IMO.
Holding @ 5.4c

 

[springhill]

Re: AIW - Australian-American Mining Corporation

A clarification on the previous post, my initial acquisition of AIW was of an indirect nature, today i took the step of purchasing AIW shares personally after reviewing the letter to shareholders today.
http://www.asx.com.au/asxpdf/20110323/pdf/41xm7dpmdlnz13.pdf

Of particular interest to me was the intention to speed up and possibly initiate the drilling of the gold and/or specialty metal projects in the 'immediate future', and put their uranium projects on the backburner for a while.
2 nights ago i wrote to J Malone asking him if this exact scenario was at all possible, i am yet to receive a reply, but the letter answers many Q's i asked of him.
Will inform if i receive a reply.

To go with their current report of $6m cash, they also have 3m shares in FRG valued at $3.6m. Aswell as a current cash value of non-cash/investments assets of $6.9m. All for a market cap of $16.5m.

Bring on San Marcos!

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW released an announcement today covering several spectrums of future activities.

San Marcos.
Drilling permits are being finalised with drilling for Au expected to commence in May.

North Claims REE.
Metallurgical test work being carried out to see if low grade REE can be benificated to higher grade REE. Higher levels of heavy REE than light REE.
Prelim results expected in 4-8 weeks.

White Picacho Strategic Metals Project
Following on from the initial sampling programme last quarter, large channel sampling programme was carried out in the White Picacho Strategic Metals Project. Results from all of the samples are expected by the end of April 2011.
The mineralisation is spodumene in pegmatites and this is commonly associated with lithium and tantalum deposits.
Of particular interest are the very high grades of Rubidium found in 70% of the samples received to date. Metallurgical test work is currently being conducted results are expected in the next 4 to 8 weeks.

Apex-Lowboy, Rio Puerco and Texas Lone Star Uranium projects.
Drilling programs on U projects suspended after Fukushima, until long term sentiment on U is established. Drilling can recommence within 2 weeks of a decision, current schedule for drilling to restart is June 2011.

Should be a steady news flow over the next 1-3 months.

 

[springhill]

Re: AIW - Australian-American Mining Corporation

Boardroom Radio interview with Jim Malone, covering timelines of exploration and a listing on the TSX.

http://www.brr.com.au/event/80894/a...-programs-jim-malone-executive-chairman?log=1

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW has appointed Canadian Simon Jackson to it's board to aid in it's proposed TSX listing, announced in a release to the market on 3rd March 2011. Jackson's pedigree is covered on p4.
http://www.asx.com.au/asxpdf/20110303/pdf/41x6t6mr9n7kjw.pdf

Further research has turned up this, detailing his involvement in Red Back Mining, from the discovery of the Chirano Gold Project in Ghana to the eventual takeover of Red Back for nearly $9b.

"Simon Jackson is a Chartered Accountant with over 20 years experience in the gold industry. Most recently, Mr Jackson was Vice President – Corporate Development with Red Back Mining Inc (“Red Back”). His 11 year tenure with Red Back commenced with the 1999 discovery of the Chirano Gold Project in Ghana and his initial role with Red Back was as Chief Financial Officer.

In this position, Mr. Jackson organized project financing for Chirano and oversaw finances during the 14 month construction of the mine through to the first gold sale in late 2005. He drove the process by which Red Back become a Canadian company and listed on the TSX.

As Red Back grew, Mr Jackson moved full time into the corporate development role. Red Back was active in the merger & acquisition space with profitable investments in peers, the successful acquisition of the Tasiast project in Mauritania and a friendly deal with Moto Goldmines which was ultimately sold to a higher bidder.

Red Back was acquired by Kinross Gold Corporation in September 2010 in a transaction approaching $9 billion, the fourth largest gold transaction in history.

Mr. Jackson lives in Vancouver, Canada with his wife and four children."



I find this particularly heartening, despite recent SP weakness, considering AIW will be focusing on the San Marcos gold project.

The other appointment is Don Falconer, another Canadian based director, whose expertise lies more with the uranium side of things.



"Don Falconer is a uranium veteran and a seasoned senior executive with extensive industry experience in the mining and electric utility sectors, including:
- 30 years in a variety of senior management positions in both the uranium mining and nuclear utility sectors.
- 13 years on Boards of uranium mining companies as a Director and Corporate Secretary.
- In-depth knowledge of the nuclear fuel cycle/uranium market.
- A track record of contributing dedicated effort, skills and experience to assisting the development of start-up and junior mining companies.

Mr. Falconer has worked at Fronteer Gold’s subsidiary, Aurora Energy Resources, as Vice President-Corporate Development with responsibilities for investor relations, uranium market analysis, uranium marketing and off-take sales and communications with the Michelin Project host communities, as a Director at Energy Fuels Resources, at Uranium One Inc as VP–Investor Relations and Marketing, as Vice President – Corporate Development, Director, and Corporate Secretary at Southern Cross Resources and prior to that in a number of managerial positions at the corporate and business unit levels in various divisions of Ontario Hydro (now Ontario Power Generation) including as a member of the nuclear executive team working directly with the Managing Director of the nuclear division.

Mr. Falconer resides in Toronto, Canada."

AIW, more to the point Jim Malone, is coping an absolute pasting on HC, and admittedly my initial investment is down, but i will hold the faith and am confident about San Marcos, though if SM turns out to be a turkey i am out.

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW is to immediately commence a 35 hole, 7,700m drilling program at Rio Puerco uranium project.

http://www.asx.com.au/asxpdf/20110524/pdf/41ytqd53r2fhhh.pdf

Objectives of program is to;

(1) Validate/confirm historic data
(2) Increase the current resource from 11.4 million lbs.
(3) Move greater percentage of the current JORC/NI 43-101 resource from inferred
into the indicated and measured category
(4) Drill parts of the project that have historic resources but lack detail information
in AusAmerican’s database
(5) Provide core for metallurgical test work which will, amongst other things, assist
in validating the amenability of the project to ISR
(6) Test soil gas hydrocarbon (SGH) methodology over known resource which will
assist with Greenfield exploration at the project

Positive results from this exploration program could increase the known resource
2-5 times.

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW, Australian-American Mining Corporation Limited has advanced it’s Rare Earth Elements Project situated in West-Central Arizona, USA.


This project, which until now has been known as the North claim project but will now be referred to as the La Paz Rare Earth Project, is located in La Paz County in the West-Central section of the state of Arizona, in the United States of America . It is approximately 120 miles west-north-west of Phoenix.

HIGHLIGHTS:

*Work advanced on Rare Earth Elements project in Arizona, USA
*5,120 metre, 195 hole drilling programme completed
*Early results and metallurgical test work indicate potential for large tonnage, bulk mineable, low grade REE deposit
*Final metallurgical test work to demonstrate economic recovery of REE’s due in 10-12 weeks
*Early assays indicate mineralisation is low in thorium and uranium levels and contains the entire range of REE’s with a high percentage (15%-20%) of heavy REE’s

http://www.asx.com.au/asxpdf/20110622/pdf/41zc2yqgnn536z.pdf

 

[springhill]

Re: AIW - Australian-American Mining Corporation

AIW have commenced drilling San Marcos Gold Project.

*The holes will vary in depth from 30 meters to 120 meters. An estimated 5,000 meters of RC drilling will be done.
*Drilling will be done from 29 drill pads and include a maximum of 58 drill holes
10.3 square km of ground acquired by AusAmerican with 125 contiguous lode mining claims
*Located within Arizona’s detachment fault terrane, which hosts the Copperstone gold mine (1 million ounces)
*23% of reconnaissance surface samples (grab, composite, chip and channel) returned assays of greater than 1 gram per tonne (g/t)
*High grade assays returned results of 98.2 g/t, 52.9 g/t, 26.3 g/t and 17.4 g/t.
*A total field Magnetic survey completed
*Mapping and sampling indicate mineralized trend is 1,500 metres in length and width is over 700 metres.
*Early mining dates from 1890’s with reported production of high-grade ore
*Drilling by Westmont (1989-1991) intercepted gold mineralization in all drill holes with values ranging up to 20.57 g/t over 1.5 m. Other Intercepts included 15 m @ 1.4 g/t, 7.6 m @ 2.6 g/t, 3 m @ 11.3 g/t, and 6 m @ 6.1 g/t
*2011 drilling will confirm Westmont results and increase the lateral extent of known mineralization

The San Marcos Gold Project consists of 10.3 square km of ground acquired by AusAmerican, consisting of 125 contiguous lode mining claims. The mineralization is detachment fault in style and is similar to the 1 million ounce Copperstone gold property which lies 75 km west northwest of the San Marcos Gold Project.

AusAmerican maintains two highly prospective gold projects: the San Marcos and Bernard. It is the Company’s intention to benefit from currently high gold and silver prices. The two active gold projects also provide fall-back in the event of an extended down-turn in the uranium industry.

First assay results should be available in the next 2-3 weeks

http://www.asx.com.au/asxpdf/20110629/pdf/41zh1t34b1qxw4.pdf

 

[Jewels]

Re: AIW - Australian-American Mining Corporation

Happy to join you on this thread Spring hill.
Mr Malone:
You need to make up your mind if you are a Uranium explorer or not.
Show some sought of Nouse, stick to your guns and prove that you have more Uranium than Peninsular! How do you do that?????? Drilling Jim Drilling!
Stop wasting my bloody money and do what you said you were going to do when I made the investment decision.
GROW SOME BALLS and do what the shareholders pay you to do, drill some bloody holes and prove up a Uranium resource NOW!!! and don't dare come back to the market cap in hand before we have a JORC! ! !!!
Ciao

 

[springhill]

Re: AIW - Australian-American Mining Corporation

VTEM conductor at Blue Bell returns 12m @ 4.9% Copper Equivalent* from recent drilling

● Preliminary interpretation of VTEM data identifies 900m long conductor at Blue Bell
● Northern end of conductor tested by recent drilling and returned 12m @ 4.9% Copper Equivalent* (CuEq)
● Conductor extends to a depth of at least 300m
● VTEM conductor is coincident with magnetic anomaly

United States-focused diversified explorer Australian-American Mining Corporation Limited is pleased to announce the preliminary results from the VTEM program conducted at the Blue Bell VMS project.
The VTEM survey has outlined 4 conductors at the Blue Bell project. The highest priority is Conductor 1 which is a significant VTEM anomaly with a coincident magnetic high. The VTEM and magnetic high have excellent definition over a strike length of 900m.
Modelling of the conductor by the independent geophysicist indicates that it occurs ~25m below the surface and extends to a depth of least 300m. The dip of the conductor is ~70 degrees towards the west, comparable with mineralisation identified at Blue Bell. The conductor is at its strongest immediately to the north east of the Blue Thunder shaft.

Recent drilling (BBRC13004 and BBRC13005, see figure 3) appears to have tested the very northern weaker portion of Conductor 1 and returned significant copper/gold/silver/zinc results,
which were:
● 12m @ 4.9% Copper Equivalent* (CuEq) (1.5% copper, 3.0g/t gold, 50.3g/t silver and 1.6% zinc) from 53m
● 7m @ 2.3% Copper Equivalent* (CuEq) (1.2% copper, 0.7g/t gold, 16.0g/t silver and 1.2% zinc) from 29m
● 8m @ 1.7% Copper Equivalent* (CuEq) (0.4% copper, 1.0g/t gold, 18.7g/t silver and 1.2% zinc) from 59m

 

[System]

Re: AIW - AusAmerican Mining

On February 12th, 2014, Australian-American Minnig Corporation Limited changed its name to AusAmerican Mining Limited.

 

[System]

On December 17th, 2014, AusAmerican Mining Limited (AIW) changed its name and ASX code to Ausroc Metals Limited (ARK).

 

[System]

On March 14th, 2018, Ausroc Metals Limited (ARK) changed its name and ASX code to Woomera Mining Limited (WML).

 

[greggles]

Woomera Mining up 46% to 13c today after announcing that it has identified a significant lithium-beryllium anomaly adjacent to and within its EL63/1804 Lake Dundas tenement.

Volume was only 198,000 shares, so it's probably not wise to place too much significance on this size of today's move as there was clearly not much on the sell side under 13c.

Still, it's an interesting development for the company and may lead to more significant news down the track.