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Morning News Bites – May 26

The stacks at the decommissioned Hazelwood Power Station came down yesterday near Morwell in Victoria in sensational style.

  • While in Victoria, Stavely Minerals has received correspondence from the Earth Resources Regulation informing of the grant of two key Retention Licences for the Stavely Copper Gold Project and the Ararat Copper Project. A Retention license is considered transitional from exploration to mining licence. Chris Cairns, Executive Chairman of Stavely did still earmark further drilling needed to take place and said “While there is plenty of drilling still to do, the grant of these key Retention Licences gives us the security of tenure we need to progress our key western Victorian Projects through the various stages of evaluation required before we get to a decision to mine. “If these technical programmes and studies ultimately demonstrate a positive financial outcome resulting in a decision to develop a mining project, the investment that follows is likely to have a material impact on the local regional economy and for well-paid skilled employment in the region.”
  • Blackham Resources has reported exceptional high grade results from its resource development drilling at its Wiluna Mining Project. The results highlight the strategy Blackham have for the high grade sulphide resources.There are currently seven drill rigs Drill rigs in operation with a resource upgrade due in September quarter. Drilling will continues at Golden Age, to extend free milling cashflow and to continue and grow resources and reserves beyond the 10Moz geological endowment. Highlights from the Essex and Bulletin lodes includes :

BULP0025: 14.45m @ 17.16g/t from 18.95m, incl. 7.45m @ 31.22g/t

BULP0026: 12.4m @ 7.93g/t from 31.4m

WURC0835: 12m @ 7.01g/t from 184m, incl. 4m @ 16.59g/t

WURC0846: 6m @ 53.73g/t from 109m, incl. 1m @ 283g/t

  • The initial assay results of the recently completed Air-core drilling at the Tambellup Kaolin Project have been received by Accelerate Resources. Significant results include 73.1% yield and up to 30.64% Al2O3 in hole TBAC037. The Tambellup project is west of Tambellup in the Great Southern region of Western Australia.
  • Bardoc Gold has identified broad high grade gold intercepts out side of ore reserves at Zoroastrian deposit. All holes from the recent six diamond core holes which were designed to test areas outside of the known Ore Reserve, however all hit targets. Managing Director Robert Ryan, spoke about Zoroastrian recently in our Crib Room Podcast,  says the broad results support a long life underground operation “The Zoroastrian in-fill drilling program has delivered some fantastic intercepts and, coupled with an already robust Resource, we will expect to see an increase in the Mining Reserve as part of the DFS due for completion in Q1 2021. “While we push towards the delivery of a DFS, our goal is to develop a project with a long operational life, underpinned by a diversity of open pit and underground ore sources that will provide maximum flexibility in terms of our mining schedule and grade profile whilst reducing risk.”

  • Senex Energy and GNLG will be set to supply Roma North natural gas to the domestic market in Queensland. Senex will reduce its natural gas supply to GNLG by around 1PJ over winter following a request by GNLG. Both GNLG and Senex have agreed to redirect these volumes to the Wallumbilla natural gas supply hub.  Managing Director and CEO Ian Davies said, “In October 2018, Senex reached the Final Investment Decision for our $400 million capital program in the Surat Basin. Less than two years later, the transformational Roma North and Atlas natural gas development projects have established Senex as an important producer of gas for the east coast market.”




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