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Morning News Bites – May 27

The Prime Minister has called for state border closures to be justified saying they were never national advice

  • Pointsbet has entered an agreement with (Fox Sports) Fox Footy to be its exclusive wagering parter for the 2020 season. Pointsbet is set to expand its offerings in Australia in line with the recommencement of the AFL and NRL competitions.
  • Macarthur Minerals has announced its Joint Venture partner for its Koolyanobbing Iron ore mine, FE Limited, is entering an agreement for the sale of its Evanston royalty interest to TRR Services. FE limited will used funds from the sale to further exploration projects  such as the follow up drilling to its Pilbara interest – Hillside Copper and Gold Project.  According to President and Executive Chairman Macarthur Minerals Cameron McCall “We are excited by the news that Fe Limited is adding $7 million to its bank balance and will be fully funded for further exploration activities on Macarthur’s Pilbara tenements encompassing the Hillside, Panorama, and Strelley projects. All results so far have been very encouraging.” TRR Services is a subsidiary of Trident Resources.
  • Cohiba Minerals has overcome some initial hurdles and is looking forward to working with Kokatha Aboriginal Corporation (KAC) for its Horse Well and Pernatty C projects in South Australia. 3D inversion modelling has confirmed Iron Oxide-Copper-Gold targets at the project   “The work conducted by CGG Geoscience, a world-class provider of geophysics modelling and interpretation, provided strong confirmation for the NW-SE trending conductive zone at Horse Well area and provided evidence of a moderately deep-seated drill-ready target. The target zone, from around 400 metres below the surface, is located in the same area that was identified as a major interest – from historical gravity, magnetic and magnetotelluric surveys. Cohiba has overcome all previous hurdles in relation to the Kokatha Aboriginal Corporation (KAC) and is looking forward to working with them as we finalise the drilling contracts at both Horse Well and Pernatty C for early June.”
  • Avira Resources are in a trading halt for a capital raising process. Avira has interests in Queensland – in particular the Pyramid Gold Project in the north eastern part of the state.
  • Infill drilling has resulted in exceptional results for Bellevue Gold Limited from its Deacon Lode. The Inferred Resource stands at 410,000oz at 12.3 g/t gold. This is part of the total Inferred Resource at Bellevue of 2.2Moz at 11.3 g/t gold. Managing Director of Bellevue, Steve Parsons gave details of the results “The Deacon lode is emerging as a repeat of the adjacent Bellevue deposit, which was well-known for its extensive high-grade mineralisation. The mineralisation at Deacon is also characterised by consistent free visible gold and high pyrrhotite percentages.” Mr Parsons also outlined plans to look ay dewatering of the exisiting underground mine will assist further exploration. “Drilling from underground will enable us to drill at twice the pace and significantly less cost than drilling from surface, Underground access will also allow us to explore the deposit from different drill positions.” Results from the program at Deacon include

5.3m @ 54.5 g/t gold from 650.9m

1.5m @ 168.8 g/t gold from 651.7m including 0.5m @ 499.1 g/t gold

2.5m @ 49.2 g/t gold from 527.8m

10.3m @ 10.7 g/t gold from 566.9m

 

 

 

 

 

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