Month: September 2020

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Morning News Bites – September 15

Morning News Bites for September 15. Petrol to challenge $1 a litre again, Former Australian Prime Minister Keating proposes HECS-style system to cover the cost of aged care and a rocket is due to be launched in the outback of SA, to reach the edge of space. 

Significant gold, silver and base metal geochemical anomalies identified at Lewis Ponds for Godolphin Resources. Extended soil survey defines gold and silver geochemical anomalies over 1,300m strike length, with significant assay values of up to 6.2 g/t gold and 26.1 g/t silver-in-soil samples. The results highlight a number of high-potential areas for drilling that were previously untested for precious metals. The Lewis Ponds Mineral Resource is currently estimated to be 20.24Mt @ 1.5% Zn, 0.7% Pb, 0.1% Cu, 0.5g/t Au, 33.3g/t Ag and is classified as inferred and indicated in accordance with JORC (2012). A review of historical data will be undertaken to assess the economic potential of high-grade gold and silver shoots within the Mineral Resource.

Metalicity Limited has announced the return of the second batch of assays from the phase two drilling programme at the Kookynie Gold Project in Western Australia, approximately 60 kilometres S/SW of Leonora. The company has received assays for 23 drill holes of the expanded drilling programme, with some of the best intersections reported to date from drilling undertaken by Metalicity. Highlights include, 4 metres @ 26.91 g/t Au from 65 metres, inc. 1 metre @ 100.77 g/t Au from 67 metres. There are 38 drill holes remaining at the laboratory pending analysis, which is due in late September, with drilling scheduled to continue at an accelerated rate at the Kookynie Gold Project with plans to add a second to the programme shortly.

More wide intercepts at Mandilla East have been revealed as recent drilling points to a potential for large-scale mineralisation at Mandilla South for Anglo-Australian Resources. Drilling confirms continuity of mineralisation at Mandilla East, demonstrating the presence of wide, strongly mineralised zones that remain open at depth and along strike. Outstanding results received from a further eight diamond drill holes include highlights of,  81.4m @ 1.63g/t Au from 179.6m and 40.5m @ 1.91g/t Au from 274.5m plus 10.1m @ 1.39g/t Au from 130.6m plus 13.7m @ 1.00g/t Au from 250.7m. These significant results show that Mandilla South is a compelling exploration target with potential to match the scale of Mandilla East. The 10,600m Reverse Circulation drilling program now underway.

A 50 hole drilling program for 2,000m has commenced at the Canegrass and Holey Dam gold prospects for Kaili Resources at its Gindalbie Gold Project in the Yilgarn Craton in Western Australia. With inter‐state border closures, restrictions faced by company personnel to travel to WA and lack of readily available drillers, the company has been fortunate in engaging an experienced Kalgoorlie-based field crew and drilling team to carry out the planned drilling albeit with some delays. The drilling program is managed by geological consultancy BMGS using Raglan Drilling.

Caravel Minerals Limited report that Reverse Circulation (RC) percussion drilling at Caravel Copper Project Ninan Prospect is almost complete and the programme will be extended to include additional holes at the Dasher Deposit. At Dasher, previous drilling has defined an Indicated and Inferred resource of 134.5Mt @ 0.34% Cu at a 0.25% Cu cut-off within an east-dipping, tabular mineralised zone. Initial assay results from the drilling in progress at the Ninan Prospect are expected in late-September.

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Morning News Bites – September 14

In Today’s Morning News Bites for September 14. Gold price hits $2669AU ($1942US/oz), TikTok may have found a new buyer and Macquarie Group cops a 300m profit hit.

Great Boulder Resources reports an update on exploration programs at the Side Well and Whiteheads gold projects. Phase 1 RC drilling at the Mulga Bill prospect has been successfully completed, and all remaining
samples are now on their way to be assayed in Perth. The Phase 1 program consisted of 12 holes for 2,257m, with holes designed to extend known zones of mineralisation at Mulga Bill. Re-sampling of the anomalous 4m composite samples from the recent air-core drilling has now been completed at Blue Poles (Whiteheads). Best results include:  4m @ 3.35g/t Au from 50m to EOH, 20m @ 0.54g/t Au from 32m, including 5m @ 1.19g/t Au. Managing Director Andrew Paterson commented that the company is making good progress with its gold exploration program. “With the WA exploration industry being so busy at the moment it’s not easy to secure rigs, so we’re taking the air-core rig to Kalgoorlie to drill Blue Poles as soon as the Mulga Bill program is finished.”

White Cliff Minerals Limited has entered into binding tenement sale agreements to acquire 100% of the
Reedy South Gold Project from Harley James Sears, Wakeford Holdings Pty Ltd and Bonanza Resources. Reedy South Gold Project covers 156km2 of the highly prospective Cue Goldfields, including 1km of strike along the prolific Reedy Shear Zone. The Project comprises one granted mining lease covering the historic underground workings of Pegasus and King Cole, and three exploration license applications and is situated 40km north of Cue, via the Great Northern Highway and is 80km south of Meekatharra. Technical Director Ed Mead said, “We are looking forward to getting on the ground at Reedy South immediately in preparation for kicking off the Company’s maiden drilling programme in late-October.”

Engineering company Monadelphous Group Limited announced it has secured construction and maintenance contracts in the resources sector with a combined value of approximately $120 million. The company has been awarded the following contracts under its WAIO Asset Panel Framework Agreement with BHP: A contract to provide structural, mechanical and electrical upgrades at the Newman Hub site in the Pilbara, Western Australia and A contract associated with the dewatering of surplus water at Jimblebar mine site in Newman, Western Australia. In addition, Monadelphous has entered into the Olympic Dam Asset Projects Framework Agreement with BHP to provide multi-disciplinary construction services at the Olympic Dam copper mine in South Australia.

Kingston Resources Limited reports further exceptional assay results from the recently completed Reverse Circulation (RC) drilling program at its Livingstone Gold Project, located 140km north-west of Meekatharra in Western Australia. A new batch of assays have now been returned from a further 25 holes (2,352m) of the 54-hole (4,525m) program completed recently at the Kingsley Prospect. Assays from the remaining 13 holes (1,219m) are due by the end of September.

Carnavale secures additional ground at Kookynie Gold Project covering approximately 6km2, located only 60km south of Leonora. The tenement is strategically located between Carnavale’s Kookynie Gold Project and Metalicity’s Leipold and McTavish Projects. The Kookynie gold mining camp has historically produced >650,000 oz of high-grade gold since 1890’s. Multiple prospective structures are interpreted to extend into the new tenement area with limited systematic modern exploration completed on the tenement. Detailed aeromagnetic survey to be undertaken in December quarter over the Project.

 

 

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Morning News Bites – September 11

In Today’s Morning News Bites for September 11. Australian sharemarket opens up weaker, Tiger Airways officially shuts down and people remember the September 11 terror attacks on it’s 18th anniversary. 

The board of Rio Tinto has reported that by mutual agreement, J-S Jacques will step down from his role as an executive director and Chief Executive of the Group. A process to identify his successor is underway. J-S will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier. This will ensure business continuity to maintain the strong performance of the Group’s global operations during COVID-19. Chris Salisbury will step down as Chief Executive, Iron Ore with immediate effect and will leave Rio Tinto on 31 December 2020. Ivan Vella, currently Managing Director for Rail, Port & Core Services within Rio Tinto Iron Ore, will replace him on an interim basis, following a handover period with Chris.

Venus Metals Corporation Limited (in conjunction with its Joint Venture  partner Rox Resources Limited) reported high‐grade gold mineralisation intersected in recent reverse circulation (RC) and aircore (AC) drilling at Taylor’s Reef Prospect, Currans Find. Taylor’s Reef Prospect is a new unworked zone where high‐grade gold was recovered from surface workings in recent times by Mr D Taylor. Best results from the recent drilling at Taylor’s Reef Prospect include: 3m @ 19.58g/t Au from 21m, Incl. 1m @ 55.81g/t Au from 23m, and 3m @ 14.30g/t Au from 73m.

Andromeda Metals Limited updated interim results from aircore drilling undertaken at the Hammerhead Prospect (previously Condooringie Prospect), which is located 5 kms to the north of the Great White Deposit (previously Carey’s Well Deposit) on the Eyre Peninsula in South Australia. Analyses of samples collected from aircore drilling undertaken at the Hammerhead Prospect has defined an extensive area of Bright White kaolin (>75 ISO Brightness) with a minimum thickness of 10 metres extending over an area of 2.4 kms by 0.5 kms. XRD test results received to date have confirmed zones of high-grade (+20%) halloysite-kaolin within the Bright White domain. A Mineral Resource estimate will be prepared for the Hammerhead Prospect on receipt of final XRD analysis.

RC and diamond drilling program targeting shallow EM conductors has commenced at the Grey Dam Nickel Project for Carnavale Resources Limited. Eight drill holes planned, which will test 5 high priority EM targets at the Grey Dam Nickel Project, 70km from Kalgoorlie. Seismic Drilling Services have been engaged to provide RC and diamond drilling services utilising a truck mounted multipurpose drilling rig. RC and diamond drilling program commenced, targeting the recently defined EM conductors and potential nickel sulphide mineralisation in bedrock. Chairman Ron Gajewski commented,  “We are very excited to commence drilling at the Grey Dam Project. In this drilling program we are aiming to confirm the geology, geochemistry and geophysics demonstrated by previous sampling and to test the strongest conductors identified by the recent fixed loop electro-magnetic (FLEM) geophysical survey.”

An extension to the mine life at the Macraes operation located on the South Island of New Zealand as well as to announce initial Mineral Reserves and Mineral Resources for the Golden Point Underground, including the results of the recently completed Golden Point Underground Pre-feasibility Study. President and CEO Michael Holmes said, “Macraes continues to be the mine that keeps on giving. After nearly 30 years of operation, we are very pleased to announce that the Macraes life of mine will extend to at least 2028 with the inclusion of Golden Point Underground along with new open pit opportunities such as those at Deepdell.”

 

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Morning News Bites – September 10

Today is R U OK? Day. It’s our national day of action when we remind Australians that every day is the day to ask, “Are you OK?” if someone in your world is struggling with life’s ups and downs. Here is a link to a full list of resources that could help anyone who is in need of support:

https://www.ruok.org.au/every-day-resources

Mid‐tier gold producer and exploration company Gold Road Resources Limited reports on its exploration results and the ongoing strategy to make a meaningful gold discovery that supports a standalone operation. The first eight months of 2020 has seen positive progress with a number of high quality targets emerging. Gold Road’s strategy is to discover a significant gold deposit to support a standalone operation.  2020 drilling to date totals 77,264 metres of aircore, 11,575 metres of RC and 6,985 metres of diamond drilling. Exploration activity has advanced several high-quality targets through our Project Pipeline in the Southern Project Area including Kingston, with the first diamond hole drilled on the prospect intersected 1 metre at 10.39 g/t Au from 181.1 metres associated with high-grade quartz veining in the hanging wall of a highly favourable structural contact.

Estrella Resources Ltd is pleased to provide shareholders with an update on the sale of the Munda Gold Project at Widgiemooltha to Widgie Gold Pty Ltd, a wholly owned subsidiary of Auric Mining Limited, as announced on 13 July 2020. The parties have now executed a formal tenement sale agreement. As part of signing the TSA, the Company and Auric have agreed to increase the upfront purchase consideration to $1,237,000 cash (ex GST) (previously $1,090,000 (ex GST)) to reflect added value since executing the Offer Letter because of the termination of an existing third-party royalty at the Munda Gold Project.

Zenith Minerals report that it has secured a new gold project, Jackadgery in New South Wales. The project with a “walk-up” drill target is highly complementary to the company’s existing gold exploration project portfolio. As previously advised, recent strong investor support in the July capital raising has allowed Zenith to accelerate its planned exploration activities including multiple drill programs over the coming months at its Red Mountain gold and Split Rocks gold projects, located in Queensland and Western Australia respectively. The Company continues to have an active project generation program to ensure it has a fertile pipeline of new gold and copper project opportunities. CEO Comments Commenting on the new project, Zenith Managing Director, Mick Clifford said, “Adding another advanced gold play to the project portfolio is a testament to the Company’s project generation skills, providing investors with further firstrate gold exploration exposure in a region with proven gold endowment”.

Havieron mineralisation extended for Newcrest, with expansion of the northern breccia which includes higher grade sulphide zones. Initial inferred resource for Havieron planned for delivery in the December 2020 quarter. Red Chris drill results confirms the presence of multiple discrete high grade pods in the East Zone reporting 394m @ 1.6 g/t Au & 0.86% Cu from 650m including 166m @ 3.0 g/t Au & 1.5% Cu from 806m. Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said “Havieron has continued to expand its mineralisation with further high grade intercepts including 1m @ 100 g/t gold. Drilling results at Red Chris have returned 166m @ 3.0 g/t gold and 1.5% copper, which is significantly higher than we would expect to find in porphyry systems. Red Chris’ results also confirm the presence of multiple discrete high grade pods of mineralisation within the East Zone. We remain on track to commence declines at both projects by the end of this year or early next calendar year which will enable us to accelerate definition and development of these exciting growth options.”

Drilling to commence at Comet Gold Project to follow up high grade historical results for Accelerate Resources near Cue, Western Australia. A reverse circulation (RC) drilling program to commence next week will target high priority mineralised gold trends at the company’s Antarctica and Comet East prospects. The program will consist of approximately 1,200m of drilling to further investigate and extend shallow, high-grade, oxide gold intersections in historical reconnaissance RAB and RC drilling. Drilling to target high grade BIF-hosted gold deposits across several prospective gold trends identified from historical drilling. Past RC and RAB drill results across several targets include highlights of 4m at 7.08 g/t gold from 27m, 3m at 4.53 g/t gold from 60m, 0.4 g/t gold from 27m (ending in mineralisation) and 3m at 2.02 g/t gold from 10m. Cue District is the focus of renewed interest following recent high grade discoveries at Musgrave Resources’ nearby Break of Day (Starlight).

 

 

 

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Morning News Bites – September 9

In Today’s Morning News Bites for September 9. BHP conforms to hard borders and aims to hire from WA only and Oxford COVID-19 vaccine trial on hold over ‘potentially unexplained illness’. 

Western Australian nickel company St George Mining Limited is pleased to announce further strong drill results at its flagship Mt Alexander Project, located in the north-eastern Goldfields. Multiple intersections of mineralised mafic-ultramafic units across a 4km-long east-west strike of the Cathedrals Belt with a target horizon open to the east and west. Outstanding potential for the discovery of further nickel-copper sulphide deposits along strike to the east and west of these drill holes as well as up-dip and down-dip of the mineralised intercepts.

Lithium Australia announces its Share Purchase Plan, which launched on 12 August 2020, closed on 7 September 2020 with applications for $4.5 million. Managing Director Adrian Griffin commented, saying “We are very pleased that our shareholders backed the Company’s vision of sustainability in the energy metals space. The additional funds raised will allow all debt to be retired, improving the Company’s balance sheet and accelerating the expansion of Envirostream, our battery recycling subsidiary.”

Mincor Resources NL report highgrade massive and matrix nickel sulphide mineralisation at its Cassini North prospect, located 700m to the north of its cornerstone Cassini Main deposit at Kambalda, Western Australia. This is the first diamond hole drilled at Cassini North following a recent reassessment and geological re-modelling of the area completed by Mincor’s exploration team. MDD350 returned a significant intercept of 2.5m @ 6.6% Ni (including a higher-grade core of 2.0m @ 7.7% Ni), comprising a mix of high tenor massive and matrix nickel sulphides. Mincor’s Managing Director David Southam said, “This is a really exciting development which stems directly from the systematic approach which the geology team has adopted to nickel sulphide exploration.”

The Hamilton Copper Project in north-west Queensland has been successfully completed with a total of seven holes for 2,098m drilled under AusQuest Limited Strategic Alliance Agreement with South32. The drilling program has provided an approximate 500m spatial coverage around earlier drillholes, which provided strong indications of alteration
and the potential for nearby copper mineralisation. Managing Director, Graeme Drew, said the successful completion of the Hamilton drilling program was pleasing, particularly given that travel restrictions are still in
place due to COVID-19. “We are now eagerly awaiting assay results so we can identify potential ‘vectors to ore’, given that the holes were drilled so far apart to cover the large scale of the prospect,” he said.

Cyprium Metals Limited has provided an update, announcing granting of the mining lease at the Cue Copper Project, which replaces the Hollandaire exploration tenement and a portion of the Rapier exploration tenement. Cyprium has applied for exploration tenements to the west and east of the Nanadie Well CopperGold Project, to expand our regional presence in the area and increase the projects exploration prospectivity. The Nanadie Well Copper-Gold Project also has the Stark Cu-Ni-PGE prospect along with a number of drill ready targets that offer excellent exploration upside. Executive Director Barry Cahill commented, saying “We are pleased that the mining lease has been granted to remove any uncertainty over the timing of when mining operations could potentially commence, following the successful completion of favourable Cue Copper Project scoping and feasibility studies.

 

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Morning News Bites – September 8

In Today’s Morning News Bites for September 8. NSW, VIC and TAS brace for severe winds and dust storms, Victoria hires Salesforce for contact tracing, WA still with below average home builds despite housing grants. 

Legend Mining Limited reported an update from diamond drillhole RKDD023, which was designed to test the 25,000-30,000S conductor at the Mawson Prospect within the Rockford Project, Fraser Range, Western Australia. Legend Managing Director Mr Mark Wilson said: “The discovery of another 12.95m of massive nickelcopper sulphide in diamond drillhole 23, circa 200m from the previously announced massive sulphides, is a quantum boost for the potential of the Mawson Prospect. The nature of the mineralisation suggests we are closer to the intrusive source but we are not there yet. Downhole EM from this hole, which is now underway, is designed to provide data to assist in planning future diamond holes in this immediate vicinity.”

Shree Minerals Ltd has completed an initial desktop review of historical reports relating to Shree’s tenement application in the East Lachlan Fold Belt in New South Wales. The Turondale Project covers an area of 129.9 km² and is located 15km north of Bathurst. It is prospective for orogenic, porphyry and skarn related gold mineralisation. Commencement of exploration fieldwork is awaiting granting of the exploration licence, expected over coming few months. The East Lachlan Fold Belt has a long history of mineral production including gold (80 Mozs), copper (13 Mt), lead, zinc, silver and tin. It contains several large operating copper and gold mines including Evolution Mining’s Lake Cowal Gold Mine, Newcrest Mining Ltd’s Cadia Mine and Alkane Resources Tomingley Gold Mine. Also located within the East Lachlan Fold Belt is Alkane Resources’ 2019 Boda discovery with a reported drill intersection of 502 metres at 0.2% copper and 0.48 g/t gold from 211 metres.

High-grade gold mineralisation at shallow depths in its maiden Reverse Circulation (RC) drill program at the Kashmir prospect, has been reported by Gateway Mining Limited. The reports form part of its Gidgee Gold Project in Western Australia. Grades of up to 8.8g/t Au returned from initial reconnaissance Reverse Circulation drilling within the extensive Kashmir gold-in-soil anomaly, providing an outstanding target for follow-up work. Significant intersections have been returned from structures within both mafic volcanics and veining within the granodiorite. These mineralisation styles are consistent with those observed on the northwestern contact zone of the Montague Dome, which is the focus of Gateway’s exploration activities. Managing Director, Mr Peter Langworthy, said: “Intersecting these sorts of grades 1km apart in our very first drill program within a 1.8km long gold anomaly is an extraordinary result! This shows the scale of the opportunity at Gidgee and highlights the vast range of targets we have across the project – from resource-growth opportunities at Whistler and Montague to vast new gold anomalies such as Kashmir which are wide open for new discoveries.”

ScandiVanadium Limited announced an update on the progress of the Gnama Nickel Project in the Fraser Range of Western Australia. Review of existing geophysical database including 15.1 line kilometres of MLEM and FLEM ground based electro-magnetic (EM) survey data identifies key area for follow up. Planning underway for ground EM survey to test up to 550m depth over historic nickel and copper anomalous drilling. Executive Chairman, David Frances, said “The Gnama Project has significant elevated nickel and copper in previous drilling analogous to Nova and Mawson pre-discovery. The ability to run a higher-powered ground EM over our project compared to previous surveys completed in 2005 allows us to investigate deeper parts of the system that have not previously been tested. We are planning a SQUID survey to test up to 550m depth and potentially identify the source of the 20m thick Ni-Cu-Co anomaly in historic drilling.”

Bardoc Gold Limited announced that recent Reverse Circulation drilling at the Excelsior Deposit, part of the company’s 3.02Moz Bardoc Gold Project located 40km north of Kalgoorlie in WA, has intersected broad zones of gold mineralisation which confirm the existing resource model and highlight strong potential for future growth and upside at the cornerstone deposit. The latest assay results from the 320koz Au Excelsior Deposit are from areas of lower confidence material outside the current Ore Reserves. The results demonstrate the mineralisation remains open down-plunge at depth below the current open pit design, highlighting future growth opportunities at this large-tonnage, low strip ratio deposit.

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Morning News Bites – September 7

In Today’s Morning News Bites for September 7. Victoria announced its road map out of their COVID19 second wave, Hancock Prospecting leads the field of top 500 private companies taking over from Visy and Novak Djokovic out of US Open after hitting a linesperson in a non deliberate but serious manner.

Dreadnought Resources Limited announces that a 36 hole, ~3,500m RC drill program has commenced at the Illaara Gold-VMS-Iron Ore Project, located 160km northwest of Kalgoorlie. Drilling will commence at Metzke’s Find (19 holes and ~2,300m) which has previously returned high grade gold intercepts including; 2m @ 12.8 g/t Au from 51m including 1m @ 24.8 g/t Au from 51m. Rig will then move to the recently defined Longmore’s Find (17 holes and ~1,200m) and is expected to be completed in 3-4 weeks with assays expected throughout October 2020.

The National Battery Stewardship Scheme to boost spent battery collection and recycling according to Lithium Australia. The ACCC has authorised the Battery Stewardship Council to establish and operate a national stewardship scheme for managing end-of-life (‘EOL’) batteries. The Scheme will impose a levy on batteries at their point of sale, with the funds generated used to subsidise their collection and recycling. The value imputed by the levy will provide a commercial incentive to divert batteries from landfill, a positive environmental outcome of the Scheme. Diverting EOL batteries from landfill will provide more material for processing at the Melbourne, Victoria-based mixed-battery recycling facility of Envirostream Australia Pty Ltd (a 90% subsidiary of the Company).

Auroch Minerals Limited is pleased to announce RC drilling has commenced at its Valdez Prospect, part of the Leinster Nickel Project (Leinster) in Western Australia. 1,000m Reverse Circulation (RC) drill programme is underway at the Valdez Prospect targeting a recently-defined nickeliferous basal channel coincident with both magnetic and surface electromagnetic (EM) anomalies. All drill-holes will be surveyed with downhole electromagnetics (DHEM) to better define the surface EM conductor and provide targeting for potential massive nickel sulphidesfor the next round of exploration.

Hammer Metals Ltd provides results from its diamond drilling program undertaken on the Shadow and Toby prospects located within the Mt Isa East Joint Venture area and on the Koppany prospect located within Hammer’s JV with Mount Isa Mines. Two holes were drilled at the Shadow prospect, for a total of 372m and a further hole was drilled at Toby (252m). The drilling at Shadow confirms that the Shadow trend is mineralised and has the potential to host a significant Copper Deposit. With the presence of a wide zone of copper mineralisation in the first two holes the JV has committed to expanding the work program along the remainder of the 4km magnetic trend and the surrounding Mt Philp areas. This work program will consist of soil sampling and field mapping with the aim of identifying targets for follow up drilling.

WA-focused gold exploration and development company Classic Minerals Limited announce that it has received assays results from its maiden auger soil program at its Forrestania Gold Project in Western Australia. The Company completed a total of 310 auger holes at the Kat Gap project. The auger drilling has delivered a substantial gold anomaly located in the granite west of the main granitegreenstone contact where Classic has identified an inferred gold resource of 975,722t at 2.96g/t for 92,856 ounces. Kat Gap is strategically located approximately 70km south-south east of the Company’s Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources.

 

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Morning News Bites – September 4

Morning News Bites September 4 2020

S&P Dow Jones Indices announced changes in the S&P/ASX Indices, effective at the open of trading on September 21, 2020, Victoria Premier Dan Andrews set to release the plan for easing restrictions on Sunday and US Tech stocks drove Wall Street down overnight.

Brecciated and altered sediments containing disseminated and blebby
sulphides.

Encounter Resources have announced drill ready gold targets at Lamil, Paterson Province, WA. The targets are set to have drilling commence this month.  Encounter Managing Director Will Robinson said “High grade gold has been intersected in broad spaced drilling over 5km of the Lamil dome. Innovative new geophysical 3D inversion modelling of the IP, magnetics and airborne EM data has provided a potential step change in the structural understanding at Lamil and has highlighted an untested Havieron style target adjacent to the extensive breccia zone drilled in March 2020.”

Magnetic imagery indicates potential for around a 1.2km long extension of the western flank of Parks Reef for Podium Minerals. The locations of anomalous platinum, palladium, gold and copper in rock chip samples closely align with the observed stratigraphy in the Parks Reef drill results. Within the currently defined Mineral Resources in 3 separate resource blocks in the west, central and eastern sectors of Parks Reef with contained metals of 1,140,000 ounces of combined platinum, palladium and gold plus base metal credits with 37,300
tonnes copper. A resource upgrade is targeted for October 2020 and a drill campaign is planned to extend the total resources to a combined length of 8.5km,
including a continuous resource block spanning approximately 6.1km over the western half of Parks Reef. This is off the back of recent drilling which revealed thick intervals of significant platinum, palladium and gold mineralisation over 1.6km of strike length connecting the western and central resource blocks.

A joint venture for Flinders Mines with BBI Group Pty Ltd has resulted in the conditions precedent being satisfied or waived. Flinders Independent Non-Executive Chairman, Mr Neil Warburton said: “This is an important milestone for Flinders as there is now a pathway to bring PIOP iron ore to market and the first step of this is for BBIG to advance the necessary feasibility studies. “This has been a long time coming and we thank our shareholders for their patience. An exciting development in our journey for our shareholders really begins here.” The JV is for the proposed development of Flinders Mines flagship Pilbara Iron Ore Project

Mader Group has appointed a new Chief Financial Officer Mr Paul Hegarty. According to Mader Group Chief Executive Officer Patrick Conway  “We are delighted to welcome Mr Hegarty to Mader Group’s leadership team. He brings awealth of financial experience with him and we look forward to his input in what we envision will be a high performing year ahead,”

Azure Minerals has entered into an exclusive and binding agreement to acquire 100%-ownership of the Barton Gold Project, a single Exploration Licence Application (ELA 40/393) from local company 30 Well Pty Ltd. Commenting on this acquisition, Azure’s Managing Director, Mr. Tony Rovira said the purchase reduces the risk for Azure “Building a portfolio of Western Australian projects has reduced Azure’s risk profile by diversifying across commodities and jurisdictions. This strategy has now given shareholders exposure to two of WA’s most exciting gold exploration areas – the Mallina district in the Pilbara and the reborn Kookynie district – as well as taking on Creasy’s nickel-copper discovery in the Andover layered mafic-ultramafic complex. Given recent exploration successes in the Kookynie district by other companies, Azure is confident that comprehensive and targeted exploration on the largely unexplored 200km2 Barton landholding has good potential for the discovery of significant gold mineralisation.”

 

 

 

 

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Morning News Bites – September 3

In Today’s Morning News Bites for September 3. Tax relief on the cards for employees and businesses as Australia records a recession. 92 per cent of West Australians backing Mark McGowan on his hard border policy. BHP will pay investors around a 76.6c dividend on Sep 22.

Gold and base metals explorer Carawine Resources Limited today announced the acquisition of a major new gold exploration project in the world-class Tropicana region of Western Australia’s north-eastern goldfields. Managing Director Mr David Boyd said the acquisitions will create a dominant landholding in the northern Tropicana region of Western Australia, marking the start of a new and exciting stage in the Company’s history. “On completion of these two acquisitions and assuming all Phantom and Carawine tenement applications are granted, Carawine will have secured a large, highly prospective ground position in one of Australia’s premier gold exploration addresses and further strengthened its position in the emerging
Fraser Range nickel province,” Mr Boyd said.

Macarthur Minerals Limited is pleased to provide an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles. Macarthur and RCR Mining Technologies have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure. Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ (“Helix Dumper”) transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance. Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.

An update on RC drilling activities at the Bulong and Fingals Gold Projects has been provided by Black Cat Syndicate Limited. The first 18 holes (~1,904m) at Fingals Fortune have been completed, targeting shallow extensions to the Fingals Fortune open pit. Results were encouraging with almost every hole intersecting multiple mineralised veins, with highlights including; 3m @ 17.81 g/t Au from 69m (extensional) and 3m @ 40.99 g/t Au from 79m (extensional). Managing Director, Gareth Solly said: “Early results from Fingals Fortune are looking good and provide confidence in the potential for rapid growth of the existing Resource and extensions to the Fingals Fortune open pit.”

Marmota is pleased to provide an update on the current drilling program at Aurora Tank. The first batch of drilling assays from the July/August drilling has yielded an excellent 4m intersection averaging over 25 g/t gold (from 52m downhole). Marmota is expanding this program from approximately 7500m to over 11000m
(still being finalised), with extra holes added at a number of locations including the NW flank and eastern
extensions. Drilling is expected to be completed next week.

Kaiser Reef Limited announce that it has commenced the company’s inaugural drilling programme at the Stuart Town gold project. The drilling will initially test several targets, including the Rockdale mine and the Specimen Hill mine and will commence with RC drilling with some diamond drilling later in the programme. The programme has been targeted with the assistance of geophysical investigation and will initially investigate a few of the prospects within the prolific numbers of historic gold workings in the region. The project has enjoyed very little modern investigation since the main gold mining periods commenced in the mid 1850’s, with the geological model and source of the gold remaining a subject of conjecture.

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Morning News Bites – September 2

In Today’s Morning News Bites for September 2. Former Facebook CEO says new ban on news ‘threatens all Australians’. China announces suspension of Barley imports from Australian CBH Grain. De Grey Mining Limited reports an update at the Hemi Gold Discovery. 

De Grey Mining Limited reported the following drilling update at the Hemi Gold Discovery, located approximately 60km south of Port Hedland in Western Australia. Recent drilling has delineated a highly brecciated and extensively sulphide altered subvertical intrusion. This new intrusion has been named Falcon, which has been intersected for over 1.8km in strike, up to 80m thick and to 200m below surface. The intrusion remains open along strike and at depth. Gold mineralisation defined over 1.5km in aircore drill assays with additional assays from drilling along strike is pending. Initial aircore results include a highlight of 21m @ 3.4g/t Au from 40m and 19m @ 2.1g/t Au from 68m.

Metalicity Limited announced the return of the drone magnetic geophysical interpretation for the DCC and Altona Trends from the Kookynie Gold Project in the Eastern Goldfields, Western Australia, approximately 60 kilometres south southwest of Leonora. The company has received all data and interpretations from the ultra-high-resolution drone magnetic survey. The results indicate 21 targets that have similar geophysical and structural settings to known mineralised areas. Furthermore, drilling is still being conducted, there are 24  drill holes remaining at the laboratory pending analysis, which is due imminently with further samples being dispatched periodically, for the Kookynie Gold Project. Commenting on the target generation, Metalicity Managing Director, Jason Livingstone said: “The Footprint of the Kookynie Gold project continues to grow with a further 21 targets across granted tenure being generated from this exercise, this is incredibly exciting.”

Wiluna Mining reports high‐grade results from a further 68 holes and 18,584m of resource development infill drilling at the Wiluna Mining Centre, WA. The Company continues to drill with six rigs currently on site. Infill drilling at Golden Age produces ultra‐high grades up to 880g/t. Milan Jerkovic, Executive Chair commented: The outstanding results provide confidence in our Mineral Resource and Reserve estimates as we release them on a rolling basis from September 2020 through to December 2020 and into next year.”

Strong new drilling results confirm potential to expand existing 4.1Moz Resource at King of the Hills for RED 5 Limited. Latest assays continue to emphasise the scale and quality of the King of the Hills Mineral Resource and opportunities for future Resource extensions, with results including 5.1m @ 56.4g/t Au and 19.2m @ 5.4g/t Au. Managing Director Mark Williams, said recent drilling at King of the Hills (KOTH) had delivered a host of excellent results. “This has been a highly successful drilling program that has both increased our confidence in the existing 4.1 million ounce KOTH bulk Mineral Resource model as well as identifying targets for future Resource growth.”

Further strong assay results from recent aircore (AC) drilling at the East Lynne prospect for Kin Mining, located 3km north-east of the proposed plant site at its Cardinia Gold Project, located near Leonora in Western Australia. The latest East Lynne results confirm mineralisation over 1.3km of strike length. Highlights include, 20m at 0.96g/t Au from 20m, 4m at 2.21g/t Au from 20m and 12m at 1.28g/t Au from 12m. Commenting on the latest drill results, Managing Director Andrew Munckton said:  We are eagerly awaiting results from the remaining eight lines of this broad-spaced AC program to get a clearer sense of the potential scale of this target ahead of follow-up RC drilling.