Broken Hill Prospecting Ltd.: Quarterly Activities and Cash Flow Reports June 2017

01.08.2017  |  ABN Newswire

Sydney - Broken Hill Prospecting Ltd. (ASX:BPL) provides the Company's Quarterly Activities and Cash Flow Reports June 2017.

Corporate

- Successful ASX spin-off of Cobalt Blue (ASX:COB) in Q1 2017 delivers excellent exploration results and a positive Scoping Study at Thackaringa Cobalt Project

- Strategy of becoming a significant heavy mineral sands (HMS) producer in the world class Murray Basin, New South Wales is advancing well with new acquisitions. Divestment of disputed assets to raise significant funds

- Strong projected cash position of $3.2 million at 30 September 2017 and no debt

- BPL is perfectly positioned for both organic and acquisition-based growth with project assessment underway

Projects

Murray Basin Heavy Mineral Sands Project, NSW

- Ongoing data compilation and prospectivity analysis underpins several new tenement applications

- Targets identified include multiple, shallow, mineralised strandlines comprising high-value heavy mineral assemblages

- Divestment of disputed tenements raises significant working capital. BPL maintains the third largest tenement portfolio in the Murray Basin, NSW, after industry leaders Iluka Resources and Cristal Mining

- Market confidence remains high with sustained Titanium pigment price increases in past 12 months

Thackaringa Cobalt Project, NSW

- Significant resource upgrade after previous quarter drilling campaign; tonnage up 66%, grade up 9% (COB announcement 5 June 2017)

- Scoping Study (announcement 3 July 2017 and COB announcement 12 July 2017) indicates strong potential for commercialisation of Thackaringa

- Aggressive program to advance the project underway, with joint venture terms modified to reflect best project delivery requirements

Thackaringa Base & Precious Metals, NSW

- Major geophysical survey program planned for Q4 2017 to target multiple base and precious metal prospects

To view the full report, please visit:
http://abnnewswire.net/lnk/VB72Z9IB

About Broken Hill Prospecting Ltd:

Broken Hill Prospecting Ltd. (ASX:BPL) is focused on the development of strategic technology mineral resources: Cobalt and Heavy Mineral Sands (HMS). The Thackaringa Cobalt Project is potentially a world class deposit, well positioned to met the growing demand for Lithium-ion batteries. The Murray Basin HMS Project is targeting the establishment of a sustainable pipeline of high grade, low tonnage deposits (titanium and zirconium) amenable to processing through mobile mining unit technology.



Contact:

Trangie Johnston Chief Executive Officer
Ian Morgan Company Secretary
Broken Hill Prospecting Ltd.
T: +61-2-9238-1170
E: info@bhpl.net.au
www.bhpl.biz