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Morning News Bites – Aug 7

In Today’s Morning News Bites for August 7. Reports WA FIFO jobs could be filled by those out of the country, rather than out of the Eastern States. Employers set to gain better access to JobKeeper from September as federal government deals with Victorian COVID related drops in productivity and employment. Another night, another Gold high touching over – $2075US/oz.

Horizon Minerals advised their recent first milling campaign at Boorara delivered 1,050 ounces generating A$2.93 million in revenue with an average sale price of A$2,791 per ounce. According to Jon Price MD of Horizon Minerals “It is extremely pleasing to see the first mine to mill reconciliation coming in within expectations for the upper oxide areas of the orebody. This completes a very successful first phase of activity with mining rates well ahead of schedule, mined grades increasing and completing our first gold sales into this very high Australian gold price environment.”

Exploration teams are being mobilised this weekend to head to Aldoro Resources Penny South prospect where sites have been cleared and drilling ready to commence early next week. The drill program is set to target 3,000m air core and is set to take around 2 weeks. Targets include the southern extension of Penny West Shear. As well as granodiorite-mafic contact, the potential northwest extension of granodiorite unit and granodiorite-mafic contact. There is also a magnetic low feature along Youanmi Shear greenstone-granite contact, possible demagnetised zone similar to Youanmi.

Drilling is set to commence within two weeks for Caravel Minerals at their Ninan Prospect targeting near-surface, higher-grade copper-gold mineralisation. The upcoming drilling is set to help define the extent of known high grade copper-gold mineralisation.

Jadar Resources is finalising a $1 million placement to accelerate activity for its Yanamina Gold Project. There are plans to expedite the restart of the plant, and for general working capital purposes. The Yanamia Gold Project is in Peru.

Twenty Seven Co has received an extension to its Rover tenure. This extension covers an increase to the footprint by 80% to 461sqkm and contains three historic gold targets. CEO of Twenty Seven Co, Ian Warland Said “This is an exciting development for TSC as the tenure extension nearly doubles the size of the Rover Project and materially enhances the exploration upside for gold and base metal mineralisation. More significantly, we have three historic gold in soil anomalies along the Maynard greenstone belt that require follow-up.


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