Sydney, Aug 1, 2017 AEST (ABN Newswire) - 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 LtdBroken 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: www.bhpl.biz



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