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Morning News Bites – September 25

Cricket world in shock over Dean Jones death in India yesterday. Gold drops to around $1850US/oz but sits at $1869us/oz as of time of publish and Home buyers set to be winners after lending laws placed around the GFC set to be dropped. 

Northern Star Resources has release details on its forward strategy yesterday. Highlights in the presentation included a World record in development metres at Millennium and Kanowna Belle record annual mill throughput from Kalgoorlie Operations. Jundee mining tonnage increased 38% and Processing Plant Expansion ~30%, Pogo Operations have been modernised and positioned for growth, now contributing strong cashflow and KCGM Long-life robust mine plan that delivers beyond FY2034 based on current Ore Reserves
of 9.7Moz.

An acquisition agreement has been reached by Pursuit Minerals to acquire the Gladiator Gold Project, comprising 4 exploration licences located 10km northwest of Laverton in Western Australia. CEO Mark Freeman said “The strategic acquisition of these Exploration Licences has come following our regional review and identification of priority area in this rapidly developing and highly prospective area northwest of Laverton. We look forward to commencing geological mapping, rock chip and soil geochemistry, along with planning for an initial drill program.” Previous drill highlights have included 11m @ 4.64g/t Au from 61m, including 1m @ 37.2g/t Au from 65m, in drill hole WGC89 and 11m @ 2.75g/t Au from 59m, including 1m @ 11.47g/t Au from 60m and 1m @ 4.06g/t
Au from 67m, in drill hole WGC98.

Strong Broga infill and extension drilling results have been announced by De Grey Mining. Highlights included 81m @ 1.7g/t Au from 37m in drill hole HERC192 and 9m @ 3.7g/t Au from 62m in HERC189. While follow up intrusion defined additional mineralisation drilling produced 7m @ 5.4g/t Au from 163m in HERC170 (Brolga South). According to De Grey Mining Technical Director Andy Beckwith the infill results give strong support and the intrusion at Brolga South appears to parallel the Falcon Extension “This first round of infill drilling to 80m x 40m spacing at Brolga provides strong support and confirms the consistency and continuity of gold mineralisation as expected. The infill drilling program will continue over the coming months at all the Hemi zones to enable a robust resource estimate targeting a high level of JORC 2012 Indicated category resources by the middle of 2021. The Brolga South intrusion is becoming a strong target as it narrows and remains open to the south. Overall, the intrusion appears to parallel the new Falcon intrusion making the southern extensions a prime aircore drilling target.”

Australian Potash via Twitter

As Australian Potash is set to make a final investment decision in Quarter 1 of 2021 on its Lake Wells Sulphate of Potash Project, an update to the market has been provided. The Project finance due diligence processes are under way and according to Managing Director and CEO Matt Shackelton the approvals and permits have been approved by the EPA “The various approvals and permits required for us to commence works under the Minor and Preliminary Works approval previously granted by the EPA are now being finalised, with site activities being scheduled for Q4 2020”. “Notwithstanding the operating restrictions caused by the COVID pandemic, it is very pleasing to report that APC remains on track to complete all of the above work programs and make a final
investment decision on developing the LSOP in early 2021.” he said.

Results from Resolution Lode drilling for Navarre Minerals has provided results of 5.0m @ 10.0 g/t Au from 273.9m in RD027
and 9.4m @ 5.3 g/t Au from 355.6m, including 3.4m @ 9.2 g/t Au in RD028.  Managing Director Ian Holland said “Resolution Lode continues to deliver consistently strong intersections of high-grade gold mineralisation from within a well-defined lode channel. We are becoming more confident that the geometry and style of gold mineralisation encountered to date has the potential to grow into a large deposit similar to Magdala.” The Resolution Lode prospect is located 20kmsouth of Stawell’s 4Moz Magdala Gold Mine in Victoria.


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