All tagged Alta Zinc Ltd ASX:AZI
Alta Zinc (ASX: AZI) has provided its quarterly activities report for the period ending 31 March 2019. A key highlight included completion of a technical study on the Gorno zinc project in Italy, which demonstrated the viability of the asset and confirmed significant value can be added by increasing the Gorno Mineral Resource.
Alta Zinc (ASX: AZI) has secured $1.8 million from a non-renounceable rights issue to fund resource upgrade activities at its high-grade and near-development Gorno zinc project in northern Italy. The proceeds represent a shareholder take-up of more than 40 per cent and include significant contributions from biggest shareholders including the Victor Smorgon Group, executive chairman Alex Burns and non-executive director Marcello Cardaci. Alta is targeting a resumption of resource drilling activities at Gorno in coming months.
Alta Zinc's (ASX: AZI) largest shareholders have thrown their support behind the emerging zinc producer's non-renounceable rights issue, which is designed to raise up to $4.4 million. Shareholders associated with the Victor Smorgon Group and Alta directors Alex Burns and Marcello Cardaci will contribute a combined $1.15 million by taking up their entitlements in the four-for-five issue, priced at 0.4c per share. Alta will use proceeds from the rights issue to start exploration and resource drilling at its flagship Gorno zinc project in northern Italy.
Alta Zinc (ASX: AZI) is proceeding with a 4 for 5 non-renounceable pro-rata rights issue of fully paid ordinary shares at an offer price of $0.004 (0.4 cents) per new share to raise up to approximately $4.38 million. The raising is being undertaken to provide the company with funding for a range of development initiatives at its flagship Gorno zinc project in Italy.
Alta Zinc (ASX: AZI) has announced a $4.4 million capital raising to fund ongoing work at its Gorno zinc project in Italy. The raising will be done by way of a 4-for-5 non-renounceable rights issue at an offer price of 0.4 cents per share.
Alta Zinc (ASX: AZI) has signed off on a successful and strategically important quarter, leaving the company well positioned to kick off a period of resource definition drilling at its flagship Gorno zinc project in northern Italy. A technical study has confirmed the technical viability of a starter project at Gorno, utilising existing underground infrastructure, and highlighted the significant value accretion from an increased zinc resource. Alta is now focused on expanding Gorno's high-grade resource of 3.3Mt at 6.2% zinc and lead by focusing on in- and near-mine brownfield opportunities. Alta has defined an exploration target of 9-21Mt at similar grades, with a priority drilling focus on the Zorzone East and Pian Bracca/Arera Thrust prospects
Emerging producer Alta Zinc (ASX: AZI) has announced that a scoping study had confirmed the technical viability of the Gorno zinc project in northern Italy and outlined plans to start resource definition drilling this year to grow the high-grade zinc ore body. The priority focus of Alta's drilling will be the Pian Bracca/Arera Thrust target, to the east of the Zorzone deposit that makes up Gorno's 3.3 million tonne resource at 6.2% zinc and lead. Gorno's scoping study identified the major value uplift to the project's returns through increasing the resource base. Much of Alta's proposed drilling is considered brownfield and low risk and will utilise Gorno's existing underground infrastructure.
Alta Zinc (ASX: AZI) has been awarded an exploration licence in northern Italy covering a historic high-grade cobalt project, Punta Corna. The licence award complements Alta's focus on building a quality inventory of high-grade base metals projects, led by its near-development Gorno zinc-lead asset. Alta's team has already analysed assays from a grab and rock chip samples program, which confirmed cobalt, nickel copper, antimony and silver mineralisation.
Amid increased investor focus on the potential of the Paterson Province in WA's North West, Alta Zinc (ASX: AZI) has reminded shareholders of its significant land position in this exciting new exploration region. Alta has long held two granted exploration licences covering 215sqkm of the highly prospective Broadhurst Formation, including the Eva Well prospect. ASX companies have scrambled to secure tenements in the Paterson following unconfirmed reports Rio Tinto had made a significant copper discovery in the region.
Emerging zinc producer Alta Zinc (ASX: AZI) says feasibility studies into a staged redevelopment of the high-grade Gorno project in northern Italy are on track to be completed this quarter. The studies, carried out by AMC Consultants and Lycopodium, will provide key recommendations for future near-term work stream at Gorno, which has a JORC resource of 3.3 million tonnes grading 6.2% zinc and lead. First concentrate production is targeted for 2020.