Tag: De Grey Mining

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Tonight’s Top Story – Diggers Wrap Up, Award Winners and A Night To Remember.

Once again Diggers and Dealers is done and dusted and all that is left to do is shake off the hangover, process all the information that has spewed out and look forward to next year’s event.  This year Diggers nearly didn’t go ahead but the owners took a leap of faith and pencilled in the October dates and then worked their butts off to ensure it happened.  Congratulations to the organisers for bringing together a wonderful three days of presentations, displays and functions.

For me a couple of the outstanding presentations were from Mincor and De Grey who outlined really exciting projects that they are involved in.  They are two companies that people should keep an eye on as the projects advance.  That is not to say that all the other presentations weren’t good.  Quite the contrary as the quality of the presentations this year was high.

This year the forum seemed to have an extra buzz about it as people are very bullish on the mining sector at the moment.  The locals in Kalgoorlie Boulder are expressing more confidence in the sector as well and town is really humming at the moment.  There are many projects in the pipeline that the local council is working hard on and this is on the back of Lynas starting construction of their processing plant on the outskirts of the city.  If they all come to fruition Kalgoorlie and surrounds is in for a huge lift.

At the end of every Diggers they have a gala night and awards are presented in different categories.  The winners of this year’s awards are:

The prestigious GJ Stokes Memorial Award went to Ms Gina Rinehart.  The award is in honour of Geoffrey Stokes who started the forum in 1992, with 150 delegates.  Sadly, Geoffrey passed away in 1997 at an early age but his legacy lives on and also recognised in the naming of the award.  As an aside, on Thursday morning after Diggers, the City of Kalgoorlie Boulder laid a plaque in Hannan Street outside the Palace Hotel, the original home of Diggers, as part of their Walk of Fame program.

Ms Rinehart is the first women to receive the award, which is made to someone who has made an exceptional lifetime contribution to the mining industry.  Ms Rinehart took over the Hancock company in the same year Diggers started and has steered the company to be the behemoth it is now.  Her astute business acumen has seen her increase her privately owned assets immensely but has also allowed her to do successful joint venture projects that have increased the value of the company.

Another of the awards, Dealer of the Year, seemed to be a no brainer and was not a surprise when dual winners, Raleigh Finlayson’s Saracen Mineral and Bill Beament’s Northern Star, were announced.  This comes off the back of their respective companies each buying 50% of the famous Kalgoorlie Superpit within a month of each other earlier this year.  The purchase was a great boon to the local community and has instilled new confidence in the sector in the region.  Add to that their yet to be approved $16B merger and these companies have really set the pace in 2020.  They are both young and energetic, which augers well for the new merged company.

Ramelius Resources took out the Digger of the Year award after announcing a 420% increase in net profit.  This came from its operations in the mid-west around Mt Magnet, the Vivien Project near Agnew and in the Westonia Green belt, the Edna May mine.  Producing 230,00koz last financial year it was a great year for the diggers.

Exciting explorer De Grey Mining won the emerging company award for its work in the Pilbara and the discovery of the Hemi project.

Other awards were presented to Dominic Piper in the media category and Georgia Kerr who was presented with the Ray Finlayson prize for Leadership and Academic Excellence.

Congratulations to all the award winners and a big thanks to Myles Ertzen, Sharon Giorgetta and their team at Diggers for once again putting on a great forum and showcasing the great city of Kalgoorlie Boulder.

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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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Morning News Bites – August 21

In the Morning News Bites for August 21 2020.

Coventry Group recorded Group sales growth for FY20 including acquisitions of 22.3%. Suncorp has recorded an earnings slide and A2 Milk look to baby formula.

A detailed airborne magnetic survey has been completed for Sabre Resources near the Penny West Gold Mine. According to Sabre they will identify the highest priority drilling targets and will then immediately take steps to commence planning for a drilling program.

FE limited are set to acquire a 50% interest in the Yarram Iron Ore project in the Northern Territory and will operate the resulting JV. Highlights at the site include 108m @ 65.6% Fe, 2.3% SiO2, 1.8% Al2O3, 0.037% P and 65m @ 66.4% Fe, 2.0% SiO2, 1.5% Al2O3, 0.022% P from 13m. Chairman of FE Limited Tony Sage said “With iron ore prices at six year highs, mature iron ore assets such as we have identified at Yarram are highly sought after. It is even more difficult to find one that hosts high grade iron ore mineralisation, that’s located just over 100km from a major port, and is in close proximity to existing mining infrastructure.” Consideration of A$1.5 m in cash and shares payable with a further $1.5m in cash and shares payable on achieving a JORC indicated resource. FEL to cover certain historical and future costs.

FMG Autonomous Truck

Elizabeth Gaines has given an indication on Mineral Reserves for Fortescue Metals Group this morning “We are pleased to report over 2.2 billion tonnes of Hematite Ore Reserves and 5.8 billion tonnes of Mineral Resources at our operating properties, supporting the sustainability of our core iron ore assets across our Solomon and Chichester Hubs, as well as our developing Western Hub. Our investment in significant growth projects including the Eliwana Mine and Rail Project in the Western Hub is now well advanced with first ore on train scheduled in December 2020. Our Iron Bridge Magnetite Project is developing Australia’s largest publicly disclosed magnetite Mineral Resource, with first ore on ship planned in the first half of calendar year 2022.”

Mineralisation at De Grey Mining‘s Brolga Zone has identified trends to the north.  De Grey Managing Director, Glenn Jardine, gave a further insight to the recent drilling “We continue to test for extensions to known mineralisation around Hemi using aircore and RC drilling. Aircore drilling has intersected new mineralisation approximately 320 metres north east of Brolga. This is along the structural corridor heading toward Scooby. RC drilling has succeeded in identifying extensions to the north of Brolga, heading toward Aquila. Specific diamond drilling has been conducted to provide samples for metallurgical variability and optimization test work. The assay results from metallurgical drilling will provide additional information on internal continuity of the gold mineralisation within Brolga.”

Perth based mineral explorer, Cullen Resources has re- prioritised drilling for its operations due to rain.Its Wongan Hills Rupert project was due for RC Drilling for August but has since been postponed, this will commence as soon as possible however. The Wongan prospect is showed an intersection of up to 1m @ 3.7% Cu, 1.5 g/t Au, hole with DHEM survey taking place. While at the North Tuckabianna project during September Cullen intends to RC drill test two DHEM targets for gold and base metals.