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Morning News Bites – September 14

In Today’s Morning News Bites for September 14. Gold price hits $2669AU ($1942US/oz), TikTok may have found a new buyer and Macquarie Group cops a 300m profit hit.

Great Boulder Resources reports an update on exploration programs at the Side Well and Whiteheads gold projects. Phase 1 RC drilling at the Mulga Bill prospect has been successfully completed, and all remaining
samples are now on their way to be assayed in Perth. The Phase 1 program consisted of 12 holes for 2,257m, with holes designed to extend known zones of mineralisation at Mulga Bill. Re-sampling of the anomalous 4m composite samples from the recent air-core drilling has now been completed at Blue Poles (Whiteheads). Best results include:  4m @ 3.35g/t Au from 50m to EOH, 20m @ 0.54g/t Au from 32m, including 5m @ 1.19g/t Au. Managing Director Andrew Paterson commented that the company is making good progress with its gold exploration program. “With the WA exploration industry being so busy at the moment it’s not easy to secure rigs, so we’re taking the air-core rig to Kalgoorlie to drill Blue Poles as soon as the Mulga Bill program is finished.”

White Cliff Minerals Limited has entered into binding tenement sale agreements to acquire 100% of the
Reedy South Gold Project from Harley James Sears, Wakeford Holdings Pty Ltd and Bonanza Resources. Reedy South Gold Project covers 156km2 of the highly prospective Cue Goldfields, including 1km of strike along the prolific Reedy Shear Zone. The Project comprises one granted mining lease covering the historic underground workings of Pegasus and King Cole, and three exploration license applications and is situated 40km north of Cue, via the Great Northern Highway and is 80km south of Meekatharra. Technical Director Ed Mead said, “We are looking forward to getting on the ground at Reedy South immediately in preparation for kicking off the Company’s maiden drilling programme in late-October.”

Engineering company Monadelphous Group Limited announced it has secured construction and maintenance contracts in the resources sector with a combined value of approximately $120 million. The company has been awarded the following contracts under its WAIO Asset Panel Framework Agreement with BHP: A contract to provide structural, mechanical and electrical upgrades at the Newman Hub site in the Pilbara, Western Australia and A contract associated with the dewatering of surplus water at Jimblebar mine site in Newman, Western Australia. In addition, Monadelphous has entered into the Olympic Dam Asset Projects Framework Agreement with BHP to provide multi-disciplinary construction services at the Olympic Dam copper mine in South Australia.

Kingston Resources Limited reports further exceptional assay results from the recently completed Reverse Circulation (RC) drilling program at its Livingstone Gold Project, located 140km north-west of Meekatharra in Western Australia. A new batch of assays have now been returned from a further 25 holes (2,352m) of the 54-hole (4,525m) program completed recently at the Kingsley Prospect. Assays from the remaining 13 holes (1,219m) are due by the end of September.

Carnavale secures additional ground at Kookynie Gold Project covering approximately 6km2, located only 60km south of Leonora. The tenement is strategically located between Carnavale’s Kookynie Gold Project and Metalicity’s Leipold and McTavish Projects. The Kookynie gold mining camp has historically produced >650,000 oz of high-grade gold since 1890’s. Multiple prospective structures are interpreted to extend into the new tenement area with limited systematic modern exploration completed on the tenement. Detailed aeromagnetic survey to be undertaken in December quarter over the Project.

 

 

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