In Today’s Morning News Bites for September 3. Tax relief on the cards for employees and businesses as Australia records a recession. 92 per cent of West Australians backing Mark McGowan on his hard border policy. BHP will pay investors around a 76.6c dividend on Sep 22.
Gold and base metals explorer Carawine Resources Limited today announced the acquisition of a major new gold exploration project in the world-class Tropicana region of Western Australia’s north-eastern goldfields. Managing Director Mr David Boyd said the acquisitions will create a dominant landholding in the northern Tropicana region of Western Australia, marking the start of a new and exciting stage in the Company’s history. “On completion of these two acquisitions and assuming all Phantom and Carawine tenement applications are granted, Carawine will have secured a large, highly prospective ground position in one of Australia’s premier gold exploration addresses and further strengthened its position in the emerging
Fraser Range nickel province,” Mr Boyd said.
Macarthur Minerals Limited is pleased to provide an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles. Macarthur and RCR Mining Technologies have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure. Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ (“Helix Dumper”) transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance. Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.
An update on RC drilling activities at the Bulong and Fingals Gold Projects has been provided by Black Cat Syndicate Limited. The first 18 holes (~1,904m) at Fingals Fortune have been completed, targeting shallow extensions to the Fingals Fortune open pit. Results were encouraging with almost every hole intersecting multiple mineralised veins, with highlights including; 3m @ 17.81 g/t Au from 69m (extensional) and 3m @ 40.99 g/t Au from 79m (extensional). Managing Director, Gareth Solly said: “Early results from Fingals Fortune are looking good and provide confidence in the potential for rapid growth of the existing Resource and extensions to the Fingals Fortune open pit.”
Marmota is pleased to provide an update on the current drilling program at Aurora Tank. The first batch of drilling assays from the July/August drilling has yielded an excellent 4m intersection averaging over 25 g/t gold (from 52m downhole). Marmota is expanding this program from approximately 7500m to over 11000m
(still being finalised), with extra holes added at a number of locations including the NW flank and eastern
extensions. Drilling is expected to be completed next week.
Kaiser Reef Limited announce that it has commenced the company’s inaugural drilling programme at the Stuart Town gold project. The drilling will initially test several targets, including the Rockdale mine and the Specimen Hill mine and will commence with RC drilling with some diamond drilling later in the programme. The programme has been targeted with the assistance of geophysical investigation and will initially investigate a few of the prospects within the prolific numbers of historic gold workings in the region. The project has enjoyed very little modern investigation since the main gold mining periods commenced in the mid 1850’s, with the geological model and source of the gold remaining a subject of conjecture.