Tag: Drilling

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Morning News Bites – October 7

Morning News Bites for October 7

De Grey (DEG) Releases Infill Drill Results.

Commenting on encouraging drill results at the Hemi Gold Discovery, De Grey Technical Director Andy Beckwith said:

“The plunging high grade zone at Aquila continues to grow to the west and downdip toward Falcon. Mineralisation at Aquila and Crow has been intersected to approximately 500 vertical metres and remains open.”

 The Hemi Gold Discovery is located approximately 60km south of Port Hedland in Western Australia.

The Aquila and Crow zones are located adjacent and to the north of the large Brolga intrusion at Hemi.

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. The initial Hemi resource estimate is planned for the middle of 2021.

Black Cat Acquires More Projects.

Black Cat Syndicate (BC8) has entered into a binding agreement to acquire the Trojan, Slate Dam and Clinker Hill gold projects from Aruma Resources , subject to the satisfaction of certain conditions.

Black Cat’s Managing Director, Gareth Solly, said: “This acquisition accelerates Black Cat’s move towards a target of more than 1Moz of Resources. The Trojan deposit has strong synergies to our Fingals Gold Project, presents a near-term mining opportunity with 115,000oz in Resource on a granted mining lease and will become part of our larger Fingals Gold Project. The acquisition increases our total Resources to 826,000oz.”

The Trojan deposit is located 65km SE of Kalgoorlie on mining lease M25/0104. The deposit sits just 15km (via the all-weather Trans-access road) east of the preferred site for Black Cat’s planned processing facility.

Great Northern Minerals Confirms Significant Drill Results

Great Northern Minerals (GNM) has released the final one metre resplit samples (BRRC1012 to BRRC1033) from the Reverse Circulation (‘RC’) drilling programme at the Company’s Big Rush Gold Project in Northern Queensland.

The total recent drilling at Big Rush comprised 22 RC holes for 3,634 metres spread over approximately 900 metres of strike underneath the southern, central and northern previously mined shallow open pits.

GNM Managing Director, Cameron Mclean said when releasing the results: “The one metre results have confirmed the potential for very high grades to extend to significant vertical depth, particulary underneath the Central Pit. Results from underneath the Northern Pit are pointing to excellent further potential in this area and the planned deeper diamond drilling program which is about to commence is designed to test for extensions of the higher grade gold results.”

Victory Mines Confirms Commencement of Drilling Program

Victory Mines Limited (VIC) has announced that drilling has commenced at the Company’s Bonaparte Project in the Kimberley region of Western Australia.

Victory is conducting a 10 hole drilling program which will include twinning historical drill holes with modern drilling methods and sampling techniques. Drilling is expected to be completed and assays returned to the company for interpretation by late November 2020.

Down Hole Electromagnetic Magnetic (DHEM) tools will be used to help determine the presence and orientation of primary sulphide conductors. The DHEM survey is scheduled for the second quarter of 2021 following the end of the wet season.

Gold – What Goes Up Must Come Down

Gold has continued its roller coaster ride with a significant drop in price over night.  After hitting $1920USD yesterday during trade, this morning it opened about $1877USD.  The drop is attributed to US President Trump calling off talks with the Democrats about any stimulus package for the nation.  At time of writing gold was trading at $2642AUD.

With the US elections about a month away the next few weeks could see more volatility in the sector as the price fluctuates on predictions of the outcome.

Gold stocks on the ASX are down and it has taken back a little of the large gains from yesterday that Northern Star and Saracen experienced after the announcement of the two companies merging to form a B$16.1AUD company.

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Morning News Bites – October 1

Morning News Bites for September 30. PM to announce $1.5 billion manufacturing boost to bring 80k jobs to Australia, experts predicting that half of Australian university researchers face the axe and Victoria COVID-19 death toll reaches 800.

Cyprium Metals Limited commenced analysing the potential of the Nanadie Well Copper-Gold Project, which is located 75km east-northeast of its existing Cue Copper-Gold Project, in Western Australia. The supergene mineralisation has been intersected in shallow drilling over a strike length of 750 metres and remains open along strike in both directions. Typical supergene intersections include, 6m @ 4.79% Cu, 0.36 g/t Au, 1.83 g/t Ag from 1m and 8m @ 2.53% Cu, 0.69 g/t Au, 3.88 g/t Ag from 33m in drill hole. Executive Director Barry Cahill commented, saying “We are pleased to announce the preliminary results of the geological interpretation that we have undertaken at the Nanadie Well Copper-Gold Project. There is significant potential for shallow supergene copper-gold mineralisation above the sulphide mineralisation at Nanadie Well.”

Thomson Resources Ltd has advised that it has completed due diligence on the Hortons gold tenement it is acquiring from private company, Syndicate Minerals Pty Ltd to Thomson’s satisfaction. The Hortons gold tenement is situated 30km of Tenterfield in Northern NSW and has high potential for Intrusion-Related Gold System type gold mineralization. The tenement covers 58 sq. km and has several gold anomalies. This is the first of the key Conditions Precedent to Thomson’s acquisition of the Hortons gold project. The next steps towards completion of the acquisition will now be proceeded with, including, obtaining Thomson shareholder approval to the issue of the equity consideration, this will be sought at the AGM on 26 October 2020 and with Ministerial approval of the transfer of the tenement to Thomson.

Further to its announcement of 16th July, AusQuest Limited reported that drilling of several compelling gold-copper targets at the Gunanya Project in the Paterson region of Western Australia is set to commence in early October under its Strategic Alliance Agreement with South32. The reverse circulation drilling program will consist of 6 to 9 drill-holes for a total of ~1,800m, and will provide an initial test of three magnetic targets to determine their potential to host large-scale gold and copper mineralisation, similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest). AusQuest Managing Director Graeme Drew said the Company was pleased that drilling of the Gunanya targets was able to get underway this late in the season. “These are compelling targets based on analogies that we have been able to draw with new discoveries in the Paterson Region from both a gold and a copper perspective,” he said. “We are looking forward to reporting on the drilling at Gunanya once the program gets underway.”

Bellevue Gold Limited is pleased to announce that extensional and infill exploration drilling at the Bellevue Gold Project in Western Australia has intersected high-grade mineralisation both outside and within the existing know resource boundary. Drilling has been continuing on site and has included infill drilling to upgrade the indicated resource later in the December quarter and the resumption of exploration step out drilling at the project. Hits up to 163g/t also point to extensions of the Deacon, Deacon North and Bellevue
Lodes; Indicated Resource upgrade set for this quarter. Managing Director Steve Parsons said the Company’s investment in exploration drilling continued to create significant value for Bellevue stakeholders.
“We have hit more high-grade mineralisation in previously-untested areas,” Mr Parsons said. “These results extend the known limits of the mineralisation. At the same time, our infill drilling continues to return strong results which should help drive an increase in the Indicated Resource.”

Barra Resources Limited is pleased to advise that reverse circulation and diamond drilling is scheduled to commence mid-late October at the Burbanks Gold Project. The drilling program will specifically follow-up encouraging RC drill results from 2019 which intersected high-grade mineralisation to depths of 100m below the surface, along 600m of prospective strike along the Burbanks Shear Zone between the Main Lode underground mine and the Burbanks North deposit. Mineralisation is open at depth and the planned program aims to test the prospective 600m of strike to depths between 130m and 350m below surface where mineralisation is open and untested. The drilling program is estimated to take between 4 and 6 weeks with results to be announced within 2 weeks of program completion.

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Morning News Bites – September 30

Morning News Bites for September 30. Hydrogen boom set to hit $11 trillion USD, national contact tracing network unlikely to be in place until 2021 and Trump is about to go head to head with Biden in the first presidential debate. 

TSC Limited announced the commencement of RC drilling at the Rover Project in WA’s Goldfields. Around 33 holes for 1,800m is planned, to test four main areas. The RC drilling campaign is designed to follow up on previous significant results. Notably, the focus is to test new anomalous gold results at the Rover Project, following on from TSC’s auger drilling and soil geochemical programs. Results to be released progressively over the coming weeks as they come to hand.

Superior Resources Limited reported an update on the second batch of assays from the Resource Drilling
Program at the Steam Engine Gold Deposit, located approximately 210 kilometers west of Townsville, Queensland. The results further boost the consistently strong intersections returned in the first batch of assays from both the Steam Engine and Eastern Ridge Lodes. The second batch of assays returned a thick, high grade gold intercept at Steam Engine Lode, with highlights including; 14m @ 4.9 g/t gold from 0m (surface), incl 7m @ 9.2 g/t gold from 7m and incl 1m @ 47.5 g/t gold from 7m. Upcoming revised Mineral Resource Estimate expected to be upgraded from current 1.27 million tonnes @ 2.3 g/t gold (approximately 94,000 ounces), followed by completion of a scoping study.

Initial reconnaissance fieldwork programs at the recently-acquired Jimblebar and Pincunah gold projects in the Pilbara region of Western Australia have returned positive results for Trek Metals Limited, confirming strong prospectivity for gold mineralisation. The fieldwork program comprised mapping and sampling programs across both project areas and included the reprocessing of geophysical data to assist with geological interpretation. This work delivered a series of maps that combined airborne magnetic and radiometric data, as well as aerial photography, topography and processed satellite imagery. In combination with historical drilling results, these maps were then used to prioritise targets for sampling programs and later interpretation.

Toro Energy Limited reported that the reverse circulation drilling programme at the Golden Ways Target Area on the company’s owned Yandal Gold Project has been successfully completed. The Project is located in the Yandal Greenstone Belt some 15km NE of the world class Bronzewing Gold Mine and some 50km east of the world class Mt Keith Nickel Deposit in Western Australia. A total of 35 RC drill holes for 2,416m were completed in the programme over the Golden Ways target area, being 416m more than the 2,000m planned. Geological assessment of the drilling program is now underway. Drill chip samples have been selected for geochemical analysis and sent to the laboratory for assaying. It is expected that assay results will be returned in October.

Sultan Resources Limited provided an update on results from extension soil and rock chip sampling returned from ongoing exploration programs at the Big Hill AuCu porphyry project in the Company’s Lachlan Fold Belt. The ongoing exploration program is designed to identify drill targets with high potential to host
porphyry-style Au-Cu and/or epithermal gold mineralisation across the three highly prospective targets at Big Hill, Ringaroo and Tucklan. Jeremy King, Chairman of Sultan Resources commented saying, “Sultan’s methodical approach and boots on the ground exploration strategy has again paid off, revealing Razorback Ridge: outcropping chalcopyrite, malachite, chalcocite with good gold over a kilometre long, and unreported by previous explorers. It is testament to the quality our now expanded ground position that such outcropping
mineralisation can still be discovered walking the ground half way between Cadia and Boda. Razorback adds even more compelling ingredients to our Big Hill Porphyry Target, giving us more confidence to fast track further exploration not only around Big Hill and Razorback, but at Ringaroo and Tucklan where we eagerly await IP and soil results, as we turn toward drilling.”

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Morning News Bites – September 29

Morning News Bites for September 29. Thousands of people impacted by the Office 365 outage, Sydney to Auckland travel bubble is looking likely and the Hotel Quarantine failures “caused 768 deaths”, inquiry told. 

Alto Metals Limited provided an update on the final 1m fire assay results from its latest phase of RC drilling targeting high grade gold mineralisation beneath the Lord Nelson open pit and at the new Orion gold lode discovery, located 200m south of Lord Nelson, within the Company’s flagship Sandstone Gold Project 600km north of Perth in the East Murchison Mineral Field of Western Australia. The update relates to results received for a total 5,562m of RC drilling, which included infill and step out drilling at the new Orion Lode and infill drilling beneath the Lord Nelson pit. Infill drilling at the Orion Lode confirms excellent continuity of the shallow high-grade gold mineralisation from oxide and transitional zone, with highlights including, 29m @ 3.5g/t gold from 49m, incl.7m @ 7.9g/t gold from 53m and 13m @ 3.3g/t gold from 83m, incl.2m @ 8.8g/t gold from 85m. Alto’s Managing Director, Matthew Bowles commented saying, “It is a really exciting time for Alto with our next drilling program about to commence to follow up on these latest results. The 30,000m of drilling we have planned is the biggest drill program Alto has undertaken in a number of years and we are keenly anticipating ongoing results.”

Torian Resources Limited announced that drilling on the Mt Stirling Gold Project has now commenced, located 40km northwest of Leonora in Western Australia. The approximately 15,000m drilling campaign kicked off today at the Diorite East prospect on the Diorite Block. 9 holes comprising of approximately 1,000m of drilling have been planned for this prospect to follow up on a number of historical gold-in-soil anomalies which were recently uncovered. Phase 1 drilling has demonstrated Mt Stirling Project as a potentially large gold system with ore grade Au now intercepted over 100m below previous drilling and extends over 1,000m strike length. Assays from Phase 1 drilling returned grades of up to 4m @ 8.84 g/t (including 1.0 m @ 33.10 g/t) and 24m @ 1.26 g/t (including 7.0 m @ 2.89 g/t). Torian Executive Director Mr Peretz Schapiro said, “Today’s announcement ushers in an exciting phase for our company and our shareholders as we embark on one of our largest and most comprehensive drilling campaigns in recent times. I would like to thank our geological team and fellow Directors for all their hard work over the last couple of months to ensure that the program goes ahead and that it is given the greatest opportunity to succeed.

Drilling is underway at the Gum Creek Gold Project in Western Australia for Horizon Gold Limited. The drilling program will comprise a total of 38 RC holes for 4,680 metres. The program will consist of infill and extensional drilling to improve definition of the modelled mineralisation and to target potential extensions to the Swan and Swift Mineral Resource. Horizon Executive Director, Jamie Sullivan, said: “It is great to be drilling again at the Gum Creek Gold Project, with the initial program targeting the high-grade Swan and Swift deposits. This marks the start of a new phase of exploration for the company in this highly prospective belt. Along with our comprehensive review of previous geological data, which is well underway, we look forward to planning a more expansive drill program leading into 2021”.

West Australian kaolin and silica sand exploration company, Suvo Strategic Minerals Limited announced that it has executed a mining access agreement with the private land owner and occupier of the tenement that contains its maiden Inferred JORC Resource of 31.5mt of bright white kaolinized granite at its 100% owned White Knight Kaolin Project in Gabbin, Western Australia. Drilling contractors and associated support personnel are scheduled, and the drilling campaign will commence shortly. The purpose of the drilling program is to determine a JORC Compliant Measured Mining Reserve which is expected to be completed in December 2020. Bulk samples of raw product will be sent to the United Kingdom for further metallurgical test work, the results of which will further define enduser specifications and potential product pricing.

Dampier Gold Limited has detailed an update on further Aircore drilling has commenced at Paradigm East on the Zuleika Gold Project tenements under the joint venture with Torian Resources Limited. The Zuleika Gold Project sits within the gold rich Kundana district of the Kalgoorlie Goldfield with an extensive land holding along significant regional structures and within highly prospective stratigraphy Following on from the successful Phase 1 RC (Reverse Circulation) program at Paradigm East, phase 2 Aircore drilling of 1200m testing 400m further along strike on the mineralised structure is underway. The program is testing for the extension of the gold system to then be later infilled and tested with RC drilling. Dampier has identified the Paradigm East prospect as a high priority target within the granted tenements of the Zuleika Gold Project. Previous results include 7m @ 9.8 g/t Au including 2m @30.9 g/t Au. There are several strong intercepts over a 250m strike length and the zone is open in most directions. Phase 1 RC drilling program at Paradigm East completed in September 2020 returned significant intercepts from 11 of 12 drill holes with best results including repeats of up to 7.97 g/t Au over 1m from 117m.

 

 

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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 – September 24

Morning News Bites for September 24. Westpac settles AUSTRAC case for $1.3b, a new breakthrough could lead to a common drug delaying dementia and Cleanaway CEO loses $2.3m grant. 

More high‐grade gold results from the Abujar‐Gludehi deposit for West African gold explorer and developer Tietto Minerals Limited, part of its 2.2Moz Abujar Gold Project in Côte d’Ivoire, West Africa. The latest results, including diamond hole at Abujar-Gludehi contain highlights of, 21m @ 7.34 g/t Au from 173m including 4m @ 35.08 g/t Au (which includes 1m @ 134.48 g/t Au), 7m @2.36 g/t Au from 208m. Tietto is on track to release an updated resource estimate for Abujar in mid‐October following completion of more than 61,000m of drilling. Tietto Managing Director, Dr Caigen Wang, said: “This is a good result from Section line 25B that further confirms the potential of our high‐grade AG deposit where we expect to be able to develop an open‐pitable resource. We will soon receive all the assays from over 61,000m of diamond drilling at Abujar to add to our resource update, which remains on track for release in mid‐October.”

Apollo Consolidated Limited provided a further update on recent resource definition and exploration activities at its Lake Rebecca Gold Project located 150km east of Kalgoorlie in the West Australian Goldfields. Infill and step-out drilling at the Duke deposit further defines further significant widths of gold mineralisation, with highlights including: 36m @ 1.89/t Au, 41m @ 1.16g/t Au, 21m @ 1.36g/t Au in and 17m @ 1.34g/t Au. These results confirm confidence around the existing 80,000oz Inferred Mineral Resource estimation for the Duke deposit, which remains open at depth and to the east.

Castillo Copper Limited confirmed that 24 assayed rock chips, taken from excavated ore and unexplored areas across the Big One Deposit, show a high-grade copper mineralisation. The assays for 24 rock chip samples showed high copper percentages across the board with the best three including 33.2% Cu, 32.1% Cu, and 26.6% Cu. Furthermore, the assays verified gold occurrences that may provide credits in the event of future mining operations. The teams from CCZ and Depco Drilling are targeting drilling work to commence by 12 October 2020. Castillo Copper’s UK Director Ged Hall commented saying, “The new assays from the Big One Deposit are a great validation of the high-grade ore seen at this exciting project. It gives the team tremendous confidence to see these results spread across the tenure and including target areas that will be drilled soon.”

Assay results for 18 reverse circulation drill holes from the recent infill program at Break of Day for Musgrave Minerals. Drilling has confirmed a number of near surface extensions to the gold mineralisation at Break of Day on the Twilight and Velvet gold lodes. This includes highlights of, 3m @ 40.0g/t Au from 83m, 9m @ 3.1g/t Au from 30m and 3m @ 20.8g/t Au from 79m. The intent of the program was to identify shallow extensions to the existing gold lodes and improve the confidence in the geological model. Managing Director Rob Waugh said, “These are encouraging results and confirm the near surface gold potential on the Twilight and Velvet gold lodes. The identification of high-grade results outside the existing Twilight and Velvet geological model increases the upside potential and the possibility of additional, previously unidentified lodes being discovered.”

Rumble Resources Ltd announced that a multiphase systematic exploration campaign has delineated 45 priority Cu-Au-Zn-Pb-Ag-V targets at the Braeside Project, located 129km east of Marble Bar in the East Pilbara Region of Western Australia. The multi-rig drill programme which will consist of reverse circulation (RC) and diamond drilling (co-funded by EIS), testing a range of these high priority targets. RC drilling will focus on near surface targets, and the diamond drilling will focus on deeper targets, to which will also assist with a better geological understanding of the system.

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Morning News Bites – September 23

Morning News Bites for September 23. Westpac announces a new board member Micheal Hawker AM as Alison Burns retires from the board at the conclusion of the 2020 AGM. Guzman Y Gomez has its best week of sales in Australia on record and looks at potential IPO and Kathmandu has taken a hit to the tune of $NZ135 m.

Hammer Metals Ltd reportes that the assays from its Qld State Government Collaborative Exploration Initiative has funded 507m diamond drilling programme at the Koppany Copper – Copper and Rare Earth Element prospect located to the southeast of the historic Mary Kathleen mine. The drilling intersected broad zones of visible REE mineralisation (Allanite) and multiple zones of stringer and semi-massive sulphide mineralisation. Downhole EM has been conducted and processing of this data is underway. Managing Director, Daniel Thomas said, “The gold exploration review highlights the latent opportunity that exists within Hammer’s Mount Isa portfolio. With much of the region’s historic exploration focusing on base metal deposits, we have an opportunity to review these areas through a different lens and add quality exploration targets to the portfolio. The tenure that we have near the former Tick Hill mine has not been systematically explored and presents a unique opportunity for Hammer to continue progressing our efforts in advancing grass roots exploration concepts within the Mount Isa region.”

Sabre Resources Limited announced that promising drill targets have been identified following the interpretation of the airborne magnetic survey at the Bonanza Project. Three major new drill targets identified, located on fault splays extending from the Youanmi Fault. North east trending faults extend right through to the recent Penny West gold discovery area of Ramelius Resources Ltd. Interpreted dilation zones identified at the intersection of faults represent targets for gold mineralisation As a result of the success of the current aeromagnetic survey the company is considering extending the airborne magnetic survey further to both the west and to the south of the area currently surveyed. The company is now working on a drilling program and will conduct drilling as soon as possible.

Yandal Resources Ltd provided an  update on key feasibility study activities at the Flushing Meadows prospect within the Ironstone Well gold project located in the highly prospective Yandal Greenstone Belt in Western Australia. Geotechnical diamond drilling program completed and the holes equipped for ground water monitoring as part of open pit dewatering and flow testing studies in October, with significant new oxide mineralisation intersected including highlights of 2.90m @ 4.46g/t Au from 29.00m including 1.00m @ 7.96g/t Au, 9.60m @ 3.70g/t Au from 54.00m including 1.00m @ 16.92g/t Au and 6.04m @ 2.88g/t Au from 32.96m including 1.04m @ 12.78g/t Au.  Drill core has been retained for metallurgical ore characterisation and recovery test work suitable for evaluation by potential toll mill operators, Digital modelling of geology and mineralisation envelopes has been completed ahead of independent data verification and compilation of an updated Mineral Resource Estimate planned for October.

Silver Lake Resources Limited announced that the Board has approved Deflector South West access, development and production, underpinning a longer life, higher margin operation and further enhancing the returns from the Deflector processing plant CIP upgrade. The Deflector South West lodes are located adjacent to the existing underground mine and have a higher gold and copper tenor relative to the global Deflector Ore Reserve and Mineral Resource. The Deflector South West lodes account for 35% of the Deflector Ore Reserve and 30% of the Mineral Resource. The current Ore Reserve and continued strong exploration results demonstrate the continuity of the Deflector South West lodes and support the investment decision to establish decline access and associated mine infrastructure from the existing Deflector open pit.

An update on RC drilling activities at Majestic and Fingals Fortune, both part of the Fingals Gold Project for Black Cat Syndicate Limited. Highlights include the first 16 holes (~3,482m) at Imperial/Majestic have been drilled, targeting extensions to the Imperial/Majestic deposits. Results from the first 3 holes are encouraging with multiple gold zones in each hole with a number of high-grade intersections including, 6m @ 7.01 g/t Au from 167m, 4m @ 9.11 g/t Au from 178m, 2m @ 15.40 g/t Au from 184m and 6m @ 6.59 g/t Au from 53m. A JORC Mineral Resource update for Fingals Fortune is expected to be completed in October 2020. Managing Director, Gareth Solly said: “Thick high-grade results from our initial drilling at both Imperial and Majestic have been pleasing. RC drilling is ongoing in this area as part of our planned +60,000m drilling program. The results at Fingals Fortune were also encouraging, intersecting new lodes to the south, and will form part of an updated Resource release in October 2020. Resources at Myhree, Boundary and Trump will also be updated in October 2020.”

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Morning News Bites – September 22

Morning News Bites for September 22. Macquarie CEO to advise Federal Government on energy road map, global banks aim to contain damage over leaked documents showing they transferred more than $US2 trillion ($2.8 trillion) in suspect funds over nearly two decades and former Victorian Premier Jeff Kennett accuses the state leaders of not accepting responsibility for coronavirus second wave.

AIC Mines Limited has provided an update on drilling which has commenced at its Lamil Gold-Copper Project, located 30 kilometres west of the Telfer Gold-Copper Mine in the Paterson Province of Western Australia. The drilling will focus on high priority geophysical and geochemical targets centred on the Lamil Main Dome prospect area. This initial phase will comprise up to 7,500m of aircore and reverse circulation (“RC”) drilling and approximately 2,500m of diamond drilling. All the targets are under cover (up to 100m) and have never been drill tested before, with wide-spaced aircore and RC drilling to be used to gather litho-geochemical data over the prospect area and test the basement-cover sequence interface. Deeper diamond drilling will be used to gather information about the basement geology (i.e. the target horizon) and structure, with additional surface geochemical and geophysical surveys also underway.

Auroch Minerals Limited announced RC drilling has commenced at the recently acquired Firefly and Sinclair North prospects, part of the Leinster Nickel Project in Leinster in Western Australia. The 1,000m drill programme will be Auroch’s first phase of exploration on these prospects after entering into a binding agreement with Jindalee Resources to earn up to 70% of a four tenement package. Historic RAB drilling on both prospects identified fertile nickeliferous ultramafic unitsin the weathered and transition zones, with the best intercepts including  23m @ 0.53% Ni from 13m, including 1m @ 0.86% Ni from 22m, 5m @ 0.74% Ni from 44m and 4m @ 0.53% Ni from 16m.

Chalice Gold Mines Limited reported exciting preliminary results from a recently completed airborne electromagnetic (AEM) survey over granted tenure within the Julimar Project in Western Australia. Highlights include three new large EM anomalies identified (Hartog, Baudin and Jansz) in recent airborne EM survey. New Hartog EM Anomaly extends ~6.5km beyond the northern limit of drilling at the ~1.6km x 0.8km Gonneville Intrusion, where Chalice made a significant greenfield PGE-Ni-Cu-Co discovery in March. Results highlight the district-scale Ni-Cu-PGE potential of the ~26km long Julimar Complex. Four rigs continue the resource drill-out at Gonneville, with assay results pending for 50 holes. Commenting on the results, Chalice’s Managing Director, Alex Dorsch, said “We have speculated for some time that the area north of our recent Gonneville discovery is highly prospective. We have now supported that claim with major new, laterally extensive geophysical targets from the first airborne EM survey over the company’s granted tenure, which is a very exciting and important development.”

Established Australian copper and gold producer and explorer, Aeris Resources Limited has entered into further unsecured A$ copper hedges with Macquarie Bank Limited for approximately 5,000 tonnes, at a forward price of A$9,228 per tonne. The hedges will cover the period February to July 2021 in scheduled monthly deliveries of 833 tonnes and equates to approximately 40% of planned production during that period.

Emerging mineral and silica sands developer and explorer, Diatreme Resources Limited announced today the latest update for its Galalar Silica Project in North Queensland, with recent exploration drilling undertaken in late August and subsequent receipt of related sample testing highlighting its potential for further expansion. The drilling program comprised 44 air‐core drill holes for 835m, with some 2,000kg of bulk samples collected from the preliminary mine plan footprint (years one to five). The bulk sample is intended for use in detailed mine planning in anticipation of mining commencement. The program also completed exploration drilling to the north and east of the current resource. Significantly, new holes at the southern section encountered deeper sections of silica sand than anticipated, indicating the potential for an increased resource in this area. DRX concentrated bulk sampling within the year 1 to 5 mine plan at the southern end of the resource, with early exploration re‐drilled to confirm historic drilling and collect samples on 1m intervals to better define the resource

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Morning News Bites – September 18

Morning News Bites for September 18. Indian company Adani has starting digging its controversial Carmichael coal mine in Central Queensland, New Zealand in recession after record 12pc contraction and changes to Job Seeker, with recipients needing to search for eight jobs a month to receive the payment. 

Venus Metals Corporation Limited in conjunction with Rox Resources Limited reported the results of recent reverse circulation (RC) drilling at Sovereign Prospect. RC drilling followed up on previous AC and RC results and extended the high‐grade gold mineralisation down dip. Highlights include, 8m @ 5.03 g/t Au from 160m, including 2m @ 15.83 g/t Au from 160m and 3m @ 2.86 g/t Au from 165m. An interpretation of recent ground‐magnetic surveys covering Currans Find and Sovereign Prospect shows prominent northeast (NE) and north‐northeast (NNE) trending structures that align with the orientation of high‐grade gold mineralisation at the Taylor’s Reef, Currans North and Red White and Blue prospects.  Based on the ground‐magnetic data, six priority targets have been identified along NE trends in the  eastern part of the survey area and one of these priority targets is located immediately west of the Sovereign gold discovery.  RC drilling is planned west and southwest of the Sovereign discovery to test this target, and beneath previous high‐grade gold intersections.

AusQuest Limited reported that the reverse circulation (RC) drilling program at the Tangadee Zinc Project in Western Australia has been successfully completed with South32. A total of five widely spaced drill-holes were completed for 1,352m to test down-dip from a large zinc (>1,000ppm Zn) / thallium (>5ppm Tl) soil anomaly that was considered to be the surface expression of potential sediment-hosted zinc mineralisation at depth. Drilling intersected a thick sequence (>200m) of black carbonaceous mudstones containing abundant very fine-grained pyrite (iron sulphide), but no obvious visual signs of significant base metal (zinc) mineralisation. Composite samples were collected over two-metre intervals in every drill-hole and sent to the
Genalysis Intertek Laboratory in Perth for analysis. Assays are expected over the coming weeks, after which an assessment of the drilling results will be completed.

Artemis Resources Limited update on its Pilbara gold projects in Western Australia. 2,500m Carlow Castle Diamond Drilling has commenced as part of Project One Million. It’s primary aims are to expand the mineralised envelope which remains open in multiple directions and lift the central portion of the current resource area to the indicated category. Geophysics program to start at Carlow Castle in mid-October, which will include dipole-dipole IP, Gradient array IP and high-resolution magnetics and radiometrics. Reverse Circulation drilling to start mid-October at Carlow Castle and aims to complete further extensional drilling and test any potential anomalies identified by the concurrent IP survey.

Firm commitments received by Renascor Resources Limited for a placement to raise $3.6 million to fund work streams for Renascor’s. These include Siviour Battery Anode Material Project – containing the world’s second largest reported Proven Reserve of graphite on the Eyre Peninsula, South Australia. The Carnding Gold Project, drill-ready, high-grade, near-surface gold prospects in emerging gold province in Central Gawler Craton, South Australia. Managing Director David Christensen commented, saying ” Despite the uncertainties created by COVID-19, we are confident in the longer term demand for lithium-ion battery anode materials such as the purified spherical graphite we will produce from Siviour. Additionally, we are excited to now be able to move ahead with a greater depth and breadth of exploration and development at Carnding.”

Gold and base metals explorer Carawine Resources Limited has entered into an agreement to include Carawine’s “Eider” tenement in the Coolbro JVA with FMG Resources Pty Ltd. Eider is 35km southwest of Newcrest’s Telfer gold operations and 35km southeast of Metals X’s Nifty copper operations in the highly prospective Paterson province of Western Australia. Fortescue to pay $50,000 cash up front, complete a helicopter-borne electromagnetic (“HeliEM”) survey and 1,000m of drilling on Eider. Carawine Managing Director David Boyd said, “Although at an early exploration stage, Eider has an excellent address and is considered highly prospective. Fortescue have agreed to complete an airborne geophysical survey and drilling program before they can earn an interest in the tenements, thereby providing a commitment to exploring the tenement along with our other Coolbro JVA tenements.”

 

 

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Morning News Bites – September 17

Morning News Bites for September 17. The ASX has opened weaker as Fortescue, Commonwealth Bank and Afterpay weigh on the index, Victoria reports lowest COVID-19 cases in 2 months as NSW eases border restrictions for regional communities. 

Mincor’s Board approves development of the Kambalda Nickel Operations. The announcement of a Final Investment Decision for the planned re-commencement of nickel mining at Kambalda by Mincor is supported by a Credit Approved Terms Sheet which has been agreed with two Tier-1 international banks to provide a secured $55 million project finance facility. The facility, together with the Company’s existing cash reserves of more than $100 million, will allow Mincor to efficiently execute the delivery of its nickel restart plan in line with the Definitive Feasibility Study announced in March 2020. Pit N Portal has 60 calendar days to plan and mobilise for commencement of the contract. There are already several Pit N Portal personnel on site following the commencement of an early works program. Mincor’s Managing Director, David Southam commented, saying “It is a great honour to be announcing a Final Investment Decision which heralds Mincor’s return to nickel mining in Kambalda after a hiatus of some four years. “We are now on the cusp of realising our vision to resume profitable and sustainable nickel sulphide mining in the Kambalda district, and to do so in an environmentally responsible and ethical manner that will see this great nickel province return to the forefront of Class-1 nickel production globally.”

Macarthur Minerals Limited informed shareholders that Fe Limited has elected not to earn-in on a 25% Stage 1 Interest in Macarthur Lithium Pty Ltd’s gold and lithium tenements in the Pilbara region of Western Australia, pursuant to the Option Agreement executed between the parties in 2019. Following FEL’s decision, the parties have finalised arrangements for the orderly close-out of the joint venture, with effect from 15 September 2020. Cameron McCall, President and Executive Chairman of Macarthur Minerals commented, saying “Macarthur and FEL have enjoyed working with Fe Limited over the last 12 months. Macarthur continues to retain 26,666,667 shares in FEL and the Company wishes FEL well.”

Torian Resources Limited provided an update on its planned drilling program at the Mt Stirling Gold Project. A review of this area has recently been undertaken resulting in a number of historical gold-in-soil anomalies being uncovered. Up to 15,000m drill campaign to commence in the coming days with new Diorite East Prospect on Diorite Block the initial target. Subsequently, Mt Stirling Block drilling to recommence to test the depth and strike of existing Inferred Resource at Mt Stirling (33,900oz @ 1.45 g/t Au) & define extensions to Mt Stirling Well (16,000oz @ 2.01g/t Au). Phase 1 drilling has demonstrated Mt Stirling Project as a potentially large gold system with ore grade Au now intercepted over 100m below previous drilling and
extends over 1,000m strike length. This will be followed by drilling on the Mt Stirling Block and the main section of the Diorite Block where excellent high-grade gold results have been returned from soils and rock chip samples.

Hastings Technology Metals Limited, announced the first set of results from the 2020 Exploration Drilling Program, concentrated in the Fraser’s area. High-grade and shallow intersections from Yangibana’s highest grade deposit extensional drilling and have confirmed the company’s conceptual modelling for a large coherent zone extending from Fraser’s in the south to Bald Hill in the north, a distance of 7-8 kilometres, with efforts to rapidly expand and define mineralisation in the newly interpreted and discovered mineralised zones. High-grade and shallow intersections from extensional drilling included, 4m @ 1.31% from 4m, 4m @ 1.24% from 11m and 5m @ 1.28% from 52m.

New Ni-CuCo targets have been defined and validated at the Carr Boyd Nickel Project for Estrella Resources Limited. A geophysical survey is scheduled to commence in the coming weeks over the newly identified target areas. Carr Boyd was the first magmatic hosted style of nickel deposit discovered and mined in WA. It was discovered an the late 1960’s and produced 202, 110t of ore at an average grade of 1.43% Ni and 0.46% Cu between 1973-1977. Drill testing is set to commence once the geophysical survey is completed and targets defined.