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Morning News Bites – May 28

SpaceX and NASA have scrubbed an historic launch due to weather conditions. Aborted 17 minutes before lift off.

  • Agricultural land around 100km from Perth has produced some visually encouraging signs of Ni-Cu sulphide intercepts in the first two drill holes. Cassini Resources Yarawindah Brook Project is part of an emerging new nickel-copper-cobalt-PGE province 20km south of New Norcia. A third drill hole is underway testing a new EM anomaly 1km along strike to the north of Ovis prospect. Scott Wilson, a Kalgoorlie based prospector holds 20% a interest in the project.
  • A Rio Tinto backed exploration program has commenced at Citadel Joint Venture Programme with Antipa Minerals. An approximate 13,000m (i.e. 5,000m diamond plus 8,000m reverse circulation) resource drilling programme to test potential extensions and further define and improve ore body knowledge at the Calibre deposit which is located 45km from Rio Tinto’s Winu copper-gold project; Two diamond rilling rigs and an RC rig have been mobilised to site.
  • A desktop review of Boss Resources Honeymoon Project in South Australia is underway as a review of all historical data is set to be completed by July 2020. Boss Resources Managing Director and CEO Duncan Craib realises the potential for the review of historical data and the reassessing of information “South Australia’s proactive initiatives to support the mineral exploration industry provide a golden opportunity for Boss to thoroughly research and compile the wealth of historical information from previous explorers. Industry experience shows comprehensive reviews of all historical information often results in new exploration discoveries and significant increases in mineral resources. Initial results are already revealing exciting new information that is proving to be of huge benefit for the advancement of the Honeymoon Uranium Project.”
  • An update of drilling at the Tibooburra Gold Project site north of Broken Hill in NSW has been provided. Historic RAB drilling results of up to 22m at 4.94 g/t Au from 8m (TIBRB-12) that has never been followed-up with either RC or diamond drilling. The area has been described by geoscientists as an area where ‘mineralisation styles and structural development in the Tibooburra Goldfields are very similar to the Victorian Goldfields in the Western Lachlan Orogen”
  • The Reserve Bank of Australia’s Governor Lowe is appearing before the Senate Select Committee on Covid 19 today. he has commented on job data and the economic downturn. According to Governor Lowe – “It is possible that the economic downturn will not be as severe as earlier thought” he said. Governor Lowe also said that April jobs data was a “shocking set of numbers” but not as bad as he feared.

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