Category: Industry Link Media

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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 21

1.62 million collected JobSeeker and Youth Allowance unemployment benefits in August. Perenti Global advises that Fitch Ratings has provided the company with a BB rating, Perenti is rated BB by Standard & Poor’s and Ba2 by Moody’s. Net Zero emissions by 2050 is achievable according to a road map set to be released this week by the Scot Morrison government.

Focus Minerals and Lithium Australia has ended its Coolgardie Rare Metals Venture for a group of tenements known as the “Nepean Group”. As part of the ending of the venture, the Coolgardie Rare Metals Venture is terminated and the parties mutually release each other from any and all associated claims and;Focus transfers Lepidolite Hill tenements P15/5739, P15/5574 and P15/5575 to Lithium Australia in exchange for the grant of a royalty equal to 20% of the statutory royalties payable the State of Western Australia in relation to those tenements.

An upgrade to the Adelong Gold Processing Plant in New South Wales is set to take place for 3D Resources after awarding a contract to Timora to provide specialised Engineering, Procurement, Construction and Management Services. 3D Resources Chairman Ian Hastings said “The Company is pleased with the progress since acquiring the Adelong Gold Project and this step to commence the upgrade of the plant is particularly significant. The Company has always aimed to recommence production as soon as possible and upgrading and reconfiguring the plant is one of the most important steps in that process The work and reviews to date have generated substantial understanding of the project which will drive the plant upgrades now underway.” The contract’s finalised plans include a recommendation to more than double the plant capacity with a view to initially improving the economies of scale during a single shift operation as well as providing the additional capacity for use as the increased resources are brought into the mining plan.

The maiden drilling intercepts at Mandilla – 20km south west of Kambalda WA, for Enterprise Metals have been released. The best initial aircore result of 4m @ 1.8g/t from 40 metres and was supported by anomalous gold and gold-indicators such as arsenic in the weathering profile. According to Enterprise Metals, The August drill program was confined to the eastern side of the highway and clear of the Kambalda-Esperance High Pressure Gas Pipeline and east of private land around the Mandilla homestead. 121 shallow vertical holes were drilled for a total of 2,408 metres.

A southern plunge at The Hub Deposit for NTM Gold has been detected at the Redcliffe Gold Project near Leonora in WA. The latest diamond drill hole testing the mineralisation down plunge at the Hub deposit has increased the vertical continuity of the high-grade material, returning: 7.5m @ 8.1 g/t Au from 405.6m, incl. 4.4m @ 12.2 g/t Au. Hole 20RDD004 is approximately 65m vertically above the first hole testing the southerly plunge, 20RDD003, which previously returned: 6.5m @ 7.0 g/t Au from 459m, incl. 2.5m @ 12.2 g/t Au. According to to NTM Gold Managing Director Andrew Muir “This latest intercept confirms and extends the mineralisation seen in the 20RDD003 and validates the presence of the southern plunge at Hub. The next few holes will continue to test the mineralisation and will provide a good insight into the dimensions of the high-grade mineralisation. The grades and widths intersected are excellent and highlight that the deposit has outstanding upside beyond the shallow high-grade oxide mineralisation.”

Lake Lefroy – Lefroy Exploration

 

A diamond drill program is underway on Lake Lefroy with Lefroy Exploration and Joint Venture partner Goldfields. An update to the program, which commenced in July has been provided, with Lefroy Exploration Managing Director –  Wade Johnson excited about a second drill rig being added. “The addition of a second drill rig and the commencement of diamond drilling in Lake Lefroy to accelerate exploration is exciting news. The multiple large regolith gold anomalies over a prospective stratigraphic rock package in the vast area of Lake Lefroy requires the drill-based commitment and experience that than GoldFields can bring. We are very supportive of the exploration methodology being undertaken by
our partner and keen to see the outcome from this phase of drilling” he said. The drilling program is part of a 9000m multi-target drilling program expected to be completed in October 2020 with results soon after.

 

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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.

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Morning News Bites – September 16

Morning News Bites for September 16. Australian Nurses Union study finds COVID-19 infections in Australia could be nearly 60,000 more than reported, heavy rain forecast for drought-stricken towns in central Australia and Technology Metals Australia announce a life-of-mine update for their Gabanintha Vanadium Project in WA. 

Technology Metals Australia Limited announced an update of the Gabanintha Vanadium Project located 40km south of Meekatharra in Western Australia, with the life of mine operating schedule extended to 22.5 years. The reserve estimate increased to 39Mt at 0.9% V2O5 – a 32% increase on the DFS Ore Reserve, and the Maiden Southern Tenement Probable Ore Reserve with an estimate of 9.4Mt at 0.97% V2O5 – a very high 98% conversion from the Indicated Mineral Resource estimate. Managing Director Ian Prentice commented, saying “The 22.5 year initial project life is expected to be viewed favourably by prospective Project financiers, strategic partners and key stakeholders.”

A large gold target has been identified just 20km from Hemi discovery at Kairos’ Kangan Project in the Pilbara. A large anomalous gold target has been identified, adjacent to major regional structures identified from new aeromagnetic and soil geochemistry data. This target is one of four gold targets identified at Kangan following a recent Ultrafine soil geochemistry program. Heritage surveys and 5,000m of air-core drilling are planned for October/November at Kangan. The Reverse Circulation (RC) rig has completed eight 8 holes for 1,424m at Fuego to date, intersecting broad zones of sulphides (pyrite) in conglomerates, sandstones and black shale.

Great Northern Minerals Limited announced the receipt of the initial four metre composite results from the Reverse Circulation (RC) drilling programme at their Big Rush Gold Project in Northern Queensland. The drilling at Big Rush totalled 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. Drill hole depths ranged from 110 to 250 metres depth and averaged 165 metres. First assays from the drill program have returned high grade results including, 24m @ 3.90 g/t Au including 8m @ 10.57 g/t Au from 140 metres and 32m @ 3.89 g/t Au including 4m @ 18.97 g/t Au from 76 metres.

Rumble Resources Ltd reported that three phases of target generation have been completed at the Munarra Gully Project. The target generation has delineated multiple high priority RC drill targets at the Amaryllis Au -Cu-Ag Prospect located on the Munarra Gully Project, located some 50km NNE of the town of Cue within the Murchison Goldfields of Western Australia. Rumble has now commenced an RC drill program to test the new geophysical (conductors and magnetic) targets that have potential for large-scale Au–Cu–Ag deposits. Previous high-grade gold drill intercepts include highlights of 5m @ 11.67 g/t Au from 161m and 2m @ 13.45 g/t Au from 92m.

A 5,500 metre aircore (AC) drilling program has been announced for Bryah Resources Limited at various prospects within the company’s Basin Project, located in central Western Australia. The aim of the AC drilling program is to complete testing the large soil geochemical anomaly located at Windalah East, and undertake first pass reconnaissance drilling, primarily for gold-copper, at the Wongawar, Fortnum East and Fiddlers East prospects. The program is expected to take 2-3 weeks to complete. Managing Director Neil Marston said, “This is the most substantial drilling program undertaken by the Company this year, these areas have been carefully identified by the company, with in-depth consideration given to encouraging geological information. The new target areas are all highly prospective for gold and copper.”

 

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Morning News Bites – September 15

Morning News Bites for September 15. Petrol to challenge $1 a litre again, Former Australian Prime Minister Keating proposes HECS-style system to cover the cost of aged care and a rocket is due to be launched in the outback of SA, to reach the edge of space. 

Significant gold, silver and base metal geochemical anomalies identified at Lewis Ponds for Godolphin Resources. Extended soil survey defines gold and silver geochemical anomalies over 1,300m strike length, with significant assay values of up to 6.2 g/t gold and 26.1 g/t silver-in-soil samples. The results highlight a number of high-potential areas for drilling that were previously untested for precious metals. The Lewis Ponds Mineral Resource is currently estimated to be 20.24Mt @ 1.5% Zn, 0.7% Pb, 0.1% Cu, 0.5g/t Au, 33.3g/t Ag and is classified as inferred and indicated in accordance with JORC (2012). A review of historical data will be undertaken to assess the economic potential of high-grade gold and silver shoots within the Mineral Resource.

Metalicity Limited has announced the return of the second batch of assays from the phase two drilling programme at the Kookynie Gold Project in Western Australia, approximately 60 kilometres S/SW of Leonora. The company has received assays for 23 drill holes of the expanded drilling programme, with some of the best intersections reported to date from drilling undertaken by Metalicity. Highlights include, 4 metres @ 26.91 g/t Au from 65 metres, inc. 1 metre @ 100.77 g/t Au from 67 metres. There are 38 drill holes remaining at the laboratory pending analysis, which is due in late September, with drilling scheduled to continue at an accelerated rate at the Kookynie Gold Project with plans to add a second to the programme shortly.

More wide intercepts at Mandilla East have been revealed as recent drilling points to a potential for large-scale mineralisation at Mandilla South for Anglo-Australian Resources. Drilling confirms continuity of mineralisation at Mandilla East, demonstrating the presence of wide, strongly mineralised zones that remain open at depth and along strike. Outstanding results received from a further eight diamond drill holes include highlights of,  81.4m @ 1.63g/t Au from 179.6m and 40.5m @ 1.91g/t Au from 274.5m plus 10.1m @ 1.39g/t Au from 130.6m plus 13.7m @ 1.00g/t Au from 250.7m. These significant results show that Mandilla South is a compelling exploration target with potential to match the scale of Mandilla East. The 10,600m Reverse Circulation drilling program now underway.

A 50 hole drilling program for 2,000m has commenced at the Canegrass and Holey Dam gold prospects for Kaili Resources at its Gindalbie Gold Project in the Yilgarn Craton in Western Australia. With inter‐state border closures, restrictions faced by company personnel to travel to WA and lack of readily available drillers, the company has been fortunate in engaging an experienced Kalgoorlie-based field crew and drilling team to carry out the planned drilling albeit with some delays. The drilling program is managed by geological consultancy BMGS using Raglan Drilling.

Caravel Minerals Limited report that Reverse Circulation (RC) percussion drilling at Caravel Copper Project Ninan Prospect is almost complete and the programme will be extended to include additional holes at the Dasher Deposit. At Dasher, previous drilling has defined an Indicated and Inferred resource of 134.5Mt @ 0.34% Cu at a 0.25% Cu cut-off within an east-dipping, tabular mineralised zone. Initial assay results from the drilling in progress at the Ninan Prospect are expected in late-September.