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Morning News Bites – July 27 GOLD GOES BANG!

Today’s morning news bites – GOLD GOES BANG!!!! Gold closes in on a new record high trading at $1918US/oz ~ $2700 AUD.

  • Bardoc Gold moved into a Definitive Feasibility Study during Quarter 2 and has stepped up the exploration and drilling efforts which will see Bardoc move to an emerging mid tier producer. Managing Director of Bardoc Gold Rob Ryan said “With the lifting of COVID-19 related travel and other restrictions during the Quarter, we were able to move rapidly to escalate key work programs, launching straight into the Definitive Feasibility Study, which has already shifted into top gear, while at the same time stepping up our exploration and drilling efforts. We also enjoyed significant early success with the drill rig during the quarter. Resource in-fill drilling at the cornerstone Zoroastrian and Aphrodite deposits during the quarter delivered some exceptional high-grade results, confirming the potential for reserve growth at both deposits. Exploration drilling also delivered very positive results at the Mayday North satellite deposit, which is emerging as a high-priority target for Resource and Reserve growth.” Bardoc have shown that the DFS is on track for delivery for Q1 2021.
  • A focus on the Wellington North Project as part of the Northern Molong Belt in NSW has been in place for Magmatic Resources for the June 2020 Quarter. Magmatic was awarded a New Frontiers Cooperative Drilling grant during the June 2020 Quarter, which will contribute $35,250 towards drill testing at the Lady Ilse North porphyry gold-copper target north of the lucrative Cadia Mine. After a diamond drill hole showed similar signs to the first drill at Boda, The results provided the Company with increased confidence in the potential for a large gold-copper porphyry discovery at Lady Ilse, where RC drilling is underway.
  • Wiluna Mining has released drill results from its Calvert target at the Wiluna Mining Centre. A highlight of 76.5m @ 1.77g/t intersection demonstrates a large-scale gold system according to Wiluna Mining’s Executive Chair Milan Jerkovic. “These ongoing results from drilling ‘under the headframe’ are continuing to deliver into our Stage 1 sulphide strategy as we pursue shallow high-grade resource development targets. Our initial sulphide resource drilling programme commenced at the Wiluna Mining Centre at Bulletin and Essex and has progressed to Calvert and the East Lode. We have had exceptional drilling results from all these areas and this has given us great confidence that Wiluna remains one of the largest undeveloped gold systems in Australia.” he said. A Mineral Resource update is due to be released in late September 2020.
  • A major multi target RC drill program is underway for Lefroy Exploration at Lake Lefroy with JV partners Gold Fields. Gold anomalies were uncovered in 2019 data as part of a wide-spaced foundation of aircore drilling and geophysical programs. Lefroy Exploration Managing Director, Wade Johnson said “This is an exciting phase of exploration to provide a deeper evaluation of the multiple, large regolith gold anomalies in Lake Lefroy. The priority gold targets generated are the culmination of a systematic and methodical exploration approach by Gold Fields over 2 years that has both generated multiple broad regolith hosted gold anomalies and confirmed the rock package as being similar to that at St Ives”  Drilling is expected to be completed in August 2020 with results known by September 2020.

 

Sherwood Mining - Laneway Resources

  • Encouraging gold drill results for Laneway Resources has been announced from its Sherwood resource area at Agate Creek in Queensland. The RC program took in 34 drill holes for 2,068m of drilling with intersects of 5m @ 5.80 g/t Au from 27m & 1m @ 40.64 g/t Au from 36m & 7m @ 15.08 g/t Au from 59 m including 1m @ 54.72 g/t Au. According to Laneway Resources, Once all assay results are received and evaluated, an updated pit design and mine plan will be completed. Finalisation of mining contractor, ore transportation and processing arrangements will occur after finalising the pit design and mobilisation of a contract mining fleet will then be able to commence.

 

 

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