Mortgage stress is still apparent for hundreds of thousands of Australian’s with default threats real for around 100,000 homeowners.
- Great Northern Minerals has received travel permits to commence mining operations in North Queensland. A drilling contractor is expected to be announced in the next week as Great Northern review drilling contracts. Great Northern are looking at following up on the 2019 results and the first drilling at Camel Creek is set to take place. Cameron McLean, Great Northern Managing Director is eager to get the program underway “There is certainly no shortage of drill targets. The ability for the first time in many years to systematically assess three large under explored high grade gold projects via deeper drill testing is a unique opportunity for GNM and we look forward to commencing the work”.
- Blackham Resources have reported the latest drill results from their Wiluna Mining Centre where there are seven rig currently in operation. The latest results are from a further 17 holes and 2,947m drilled at Golden Age, testing extensions targets between the 850 – 600 underground levels. Executive Chairman of Blackham Resources Milan Jerkovic said “While the Company is focussed on optimising the mine plan around our large Wiluna sulphide resource and transitioning to gold concentrate production, these results also deliver on our parallel free-milling strategy. We aim to extend the high-grade Golden Age orebody to sustain or increase production and improve transitional cashflow over the next 12-18 months ahead of sulphides production from September 2021.”
Highlights from the latest drill results include:
GAGC0318: 3.8m @ 7.90g/t from 43.0m
GAGC0320: 1.8m @ 39.68g/t from 47.3m
GAGC0321: 2.6m @ 21.74g/t from 49.1m
GAGC0322: 0.8m @ 22.80g/t from 55.0m
GAGC0323: 1.2m @ 11.08g/t from 38.5m
GAGC0325: 0.4m @ 12.10g/t from 52.6m
GARD0112: 7.1m @ 7.47g/t from 185.9m, incl. 2.7m @ 17.32g/t
- Strandline has updated its Definitive Feasibility Studies for it’s flagship Coburn Mineral Sands project. The original DFS from April has been updated to include Binding off take agreements, Technical optimisations, including incorporating results from confirmatory bulk metallurgical test work; Updated mineral sands commodity price forecast; and Consensus foreign exchange rate forecast. Strandline Managing Director Luke Graham pinpoints the location and the opportunity to get to going is moving quick “Coburn is situated in the key mining state of Western Australia and benefits greatly from its access to existing port, road and services infrastructure. Coburn is set to continue to capitalise from the forecast supply shortages in the global zircon and TiO2 markets. With the key development approvals in place, binding off take contracts signed with major customers and the funding process well underway, Coburn is moving rapidly towards development.” he said.
- The Lachlan Belt in New South Wales has received interest from another resources company – Celsius Resources. Celsuis has entered into a Binding Heads of Agreement with Syndicate Minerals Pty Ltd to acquire the Cullarin West prospect between Goulburn and Yass. The Cullarin West prospect has had limited shallow drilling at Gooda Creek in the 1987 returned 1.95 m at 23.1 g/t gold and 1.0% copper. Daltons Goldfields is also part of the prospect and has had a limited drill programme conducted in 2012 returned a best result of 1 m @ 27.1 g/t gold.
- New nickel targets have been identified at Mt Fisher for Rox Resources east of Wiluna. Rox conducted air core drilling along the northern part of the Mt Fisher greenbelt to test for further RC opportunities. RC is set to commence on the 15th of June 2020. Results of a recent VTEM survey in conjunction with the air core drilling have now been interpreted and identified 5 key locations where there are coincident EM conductors with nickel indicator geochemistry.