Tag: Gold

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Morning News Bites – Aug 7

Supplied by Horizon

In Today’s Morning News Bites for August 7. Reports WA FIFO jobs could be filled by those out of the country, rather than out of the Eastern States. Employers set to gain better access to JobKeeper from September as federal government deals with Victorian COVID related drops in productivity and employment. Another night, another Gold high touching over – $2075US/oz.

Horizon Minerals advised their recent first milling campaign at Boorara delivered 1,050 ounces generating A$2.93 million in revenue with an average sale price of A$2,791 per ounce. According to Jon Price MD of Horizon Minerals “It is extremely pleasing to see the first mine to mill reconciliation coming in within expectations for the upper oxide areas of the orebody. This completes a very successful first phase of activity with mining rates well ahead of schedule, mined grades increasing and completing our first gold sales into this very high Australian gold price environment.”

Exploration teams are being mobilised this weekend to head to Aldoro Resources Penny South prospect where sites have been cleared and drilling ready to commence early next week. The drill program is set to target 3,000m air core and is set to take around 2 weeks. Targets include the southern extension of Penny West Shear. As well as granodiorite-mafic contact, the potential northwest extension of granodiorite unit and granodiorite-mafic contact. There is also a magnetic low feature along Youanmi Shear greenstone-granite contact, possible demagnetised zone similar to Youanmi.

Drilling is set to commence within two weeks for Caravel Minerals at their Ninan Prospect targeting near-surface, higher-grade copper-gold mineralisation. The upcoming drilling is set to help define the extent of known high grade copper-gold mineralisation.

Jadar Resources is finalising a $1 million placement to accelerate activity for its Yanamina Gold Project. There are plans to expedite the restart of the plant, and for general working capital purposes. The Yanamia Gold Project is in Peru.

Twenty Seven Co has received an extension to its Rover tenure. This extension covers an increase to the footprint by 80% to 461sqkm and contains three historic gold targets. CEO of Twenty Seven Co, Ian Warland Said “This is an exciting development for TSC as the tenure extension nearly doubles the size of the Rover Project and materially enhances the exploration upside for gold and base metal mineralisation. More significantly, we have three historic gold in soil anomalies along the Maynard greenstone belt that require follow-up.

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Morning News Bites – Aug 6

Todays morning news bites –

Melbourne retailers scramble to increase ecommerce capacity ahead of a complete shift to online on Thursday. Bank of America is forecasting the price of gold to reach $US3000 an ounce over the next 18 months. Bayswater-based Dynamic Drill & Blast has made its ASX debut today, two weeks earlier than expected after the company’s $5 million initial public offering was swamped with interest.

  • Golden Deeps has identified priority gold mineralised trends at the Tuckers Hill Gold Project near Mudgee, NSW. Magnetic images show potential gold bearing faults and anticlinal structures in the tenement area. The company engaged geophysical consultants Southern Geoscience Consultants to reprocess and re-image aeromagnetic data over the Hargraves – Tuckers Hill area with the aim of better delineating the structural and lithological trends that host gold mineralisation at the Hargraves Goldfield.
  • Manhattan Corporation Limited provided an update at New Bendigo, NSW. The 5,000 metre RC drilling programme is planned to follow-up and test the recently discovered shallow high-grade “Western Lode”, which returned: 7m at 18.16 g/t Au from 87m. The drilling staff and crew have commenced mobilisation to site, with plans to commence week beginning Monday 10th August 2020.
  • An update on the progress of the diamond drill programme currently underway at Auroch Minerals Saints Nickel Project in WA. The company has a report of a massive sulphide intersection coincident with targeted strong down-hole electromagnetic (DHEM) conductor identified from remodelling of historic DHEM surveys. Diamond core from the intersection has been logged and is being sampled, with results and modelling pending. Managing Director Aiden Platel said, “The fact that the sulphide intersection was coincident with our modelled DHEM conductor really reinforces our geological model at Saints and the ability of DHEM to vector in on nickel sulphide mineralisation.”
  • Red5 provide an update on the ongoing Final Feasibility Study for an integrated bulk open pit and underground mine and processing operation at the King of the Hills gold project in Western Australia, which is on-track for completion in September 2020. Mineral Resource estimate completed for historical low-grade stockpiles, comprising 2.81Mt at 0.5g/t Au for 39,900oz of contained gold, including 1.62Mt at 0.6g/t for 29,600oz of contained gold. “We are accomplishing key tasks towards the delivery of the Final Feasibility Study, with mine designs and schedules expected to be finalised within the next few weeks ahead of the delivery of an updated Ore Reserve estimate”, said Managing Director Mark Williams.
  • A new drilling program testing for high-grade gold in new target areas has commenced at the Cobar Gold Project in Central NSW, according to Helix Resources. The drill program will initially test the Amity’s Prospect, a robust 480m x 270m gold-in-soil anomaly. Executive Chairman Peter Lester commented, saying “Our initial drill targets are well beyond the existing resource areas and could provide scope for progressive expansion of our 118,800oz gold inventory currently attributed to the Project”. Helix’s field team has secured entry to Central NSW, following appropriate COVID travel protocols.
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Morning News Bites – Aug 5

Todays morning news bites –

Gold is continuing to break records with a new high, it is now trading at over $2024US/oz. Virgin announce cuts to 3000 staff as they plan to adapt to “a new world”. The QLD borders officially close to NSW.

Loads of ore, like in the CAT 793 are potentially more attractive after the jump in gold overnight.
  • As uncertainty surrounding the global economy increases, so does the price of Gold, smashing it’s previous record that was made only last week of over $1954US/oz, it is now trading at over $2024US/oz ($2824AUD).
  • Meteoric Resources announce the mobilisation of the Palm Springs site. The 6,500m Stage 1 drilling program, which will consist of both RC and Diamond drilling, has been designed to confirm and extend the known high grade mineralisation associated with the plunging anticline to the south of the existing Butchers Creek open pit. Stage 1 will consist of approximately 23 RC holes (5,000m)  and 7 Diamond drill holes (1,500m) for a total of 6,500m of drilling.
  • Prodigy Gold report that drilling is underway at the Tulsa Prospect, situated within the North Arunta Project, a province scale gold opportunity with several multi-kilometre soil anomalies to be drilled in 2020. Tulsa is the first of five targets to be drilled this campaign and is located along strike from the high-grade Kroda Gold Prospect which returned 5m @ 15g/t Au and 9m @ 11.5 g/t Au from drilling in 2018. Managing Director, Matt Briggs said, “With a very robust exploration program mapped out for the remainder of this calendar year, I look forward to updating shareholders on exploration progress at regular intervals.”
  • Early construction works to start at Warrawoona gold project in WA, Calidus Resources reports. Managing Director Dave Reeves said: “The early works programme will ensure gold production starts as soon as possible at Warrawoona. Constructing access roads, the accommodation village and supplying communications to site paves the way for the main development works to kick off in earnest in the new year.
  • Another significant sulphide intersection at Golden Swan extends the new discovery until August 5th for Poseidon Nickel. Latest intersection is ~50m up-dip of discovery hole PBSD0029A which intersected 7.6m @ 8.8% Ni (true width = 4.3m) including 2.1m (1.2m TW) of massive sulphides grading 15.9% Ni. Managing Director and CEO Peter Harold commented, saying “With the installation of the underground loop nearing completion we hope to highlight further potential around the current Golden Swan intersections as our geological understanding of this area improves.“
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Morning News Bites – Aug 4

In today’s morning news bites:

Sharemarket has risen 6000 points at open. Wesfarmers announces Bunnings stores in Melbourne metro region will be closed for in-store retail, however trade will remain open while Target, Kmart and Officeworks will be unable to service customers in-store. The Reserve Bank meets today to discuss interest rates.

  • Saracen reports a record increases in reserves of 3.7Moz at 30 June 2020, up 12% from 3.3Moz at 30 June 2019 (an increase of 400,000oz despite 396,000oz depletion). The further increase in reserves strengthens Saracen’s position as a substantial, long-life, low-cost gold miner with 100% of its production from Western Australia. Managing Director Raleigh Finlayson said, “To grow Reserves by 400,000oz in a year despite depletion is a strong result. These ounces are made much more valuable by the fact that they are all in Western Australia and within very close proximity to existing processing facilities. These robust reserves ensure we have long-term, sustainable production in what is almost certainly the best place in the world to be a gold miner.”

  • Renascor has identified multiple drill-ready gold targets at its Carnding Project in South Australia’s Central Gawler Craton. Shallow Gold Drill Intercepts of up to 16 g/t in Central Gawler Craton Highlights, targets include the Soyuz Prospect, where previous drilling intersected shallow gold, with highlights including: 7m @ 5.14g/t Au from 26m to end of hole, including 2m @ 16.42 g/t Au from 30m1 and 6m @ 4.94g/t Au from 14m.
  • The 250-hole auger drilling program has been completed at its Twin Hills Gold Project in the Goldfields of Western Australia, according to eMetals. Drilling has tested almost 2 kilometres of strike of prospective shear zone south of the historical Twin Hills Gold Mine which has recorded historical production of 1,100 tonnes of ore at an average grade of 23.6 g/t and an historical resource of 17,541 tonnes at a grade of 20.86 g/t. Director Mathew Walker was pleased with the progress, saying “Twin Hills is an exciting exploration Project with over 5 kilometers of prospective strike length adjacent to two excised historical high grade gold mines. We are delighted that the recent auger geochemical program has validated our structural modelling and provide us with multiple ready to drill targets.”
  • According to Gladiator Resources, the previously delayed drilling program at the Marymia Gold Project has now been completed. A total of 31 AC holes for 1,922m have been completed, with composite samples to be couriered to Intertek Laboratories for gold analysis. Results are anticipated within the month and will be reported as soon as possible.
  • Apollo Consolidated provide an update on the progress of drilling at its Lake Rebecca Gold Project located 150km east of Kalgoorlie in Western Australia. Exploration, infill, and extensional drilling at the Duchess deposit delivers strong true-width mineralisation zones, with highlights of: 5m @ 6.98g/t Au incl. 1m @ 31.48g/t Au and 7m @ 3.90g/t Au.
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Morning News Bites – Aug 3

In today’s morning news bites:

Neometals and Sms Group announced a joint venture to recycle lithium ion batteries, NSW COVID-19 clusters increase concern as Victoria move into stage 4 lockdown.

  • A formal agreement has been reached between Neometals and SMS group called Primobius, which will commercialise Neometals’ proprietary lithium-ion battery recycling technology. This offers a unique and sustainable method for recovering valuable lithium, nickel, cobalt and other materials from spent and scrap electric vehicle and consumer electronic LiB’s. Recovered and refined product materials will be in a form that can be reused in the battery supply chain. Neometals Managing Director Chris Reed said, “We have a clear path to commercialise this Australian technology, developed by our technical team in Perth, to meet the needs of the burgeoning European lithium battery and EV makers.”
  • Redstone Resources Limited has presented its report for Q4 and FY20. This includes the successful completion and interpretation of results from the 2019 exploration West Musgrave  Project, which has confirmed the significantly improved prospectivity for copper mineralisation across the project tenure.
  • Drilling has commenced at the Wild-viper Gold Project for Terrain Minerals Limited. This high-quality gold exploration tenement package located 76 km north of Leanora WA and is surrounded by historic gold deposits and is surprisingly under-explored and appears to be highly prospective. Negotiations are progressing, with plans to farm‐in up to 80% interest in privately owned Hannans South Gold Tailings Project,  a large scale tailings gold facility, located on the historic Hannans South Gold Mill site in Kalgoorlie, WA.
  • Jindalee Resources announces the appointment of Mrs Karen Wellman as CEO, effective 12 October 2020. Mrs Wellman is a geologist with almost 20 years’ experience covering all aspects of the mining cycle from early stage exploration, production and mine geology, through to resource definition and estimation. Jindalee’s Chairman Mr Justin Mannolini has welcomed this appointment, saying “We are delighted to welcome Karen as Jindalee’s CEO. Karen’s industry and development experience will be of great value to the Company as we advance our portfolio of gold and nickel assets in Western Australia to further develop and expand our significant lithium resource base in the US.”
  • Drilling contract awarded for the Mt Stirling Gold Project for Torian Resources. Phase 1 drilling has proven that the Mt Stirling Project is emerging as a potentially large  gold system with ore grade Au now intercepted over 100m below prior drilling and extends over 1,000m strike. This extends on assay results released in June of this year, which returned grades of up to: 4m @ 8.84 g/t (including 33.10 g/t over 1.0 m) and 24m @ 1.26 g/t (including 2.89 g/t over 7.0 m).
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Morning News Bites – Jul 31

In today’s morning news bites:

AMP has provided an update on its first half 20 details where it completed the sale of AMP Life, several junior explorers have reported their quarterly reports this week and PM Scott Morrison meets with Victorian Premier Daniel Andrews on further restrictions as the PM also says there is no reason to keep WA borders closed.

  • Mandrake Resources continues to develop Newleyine into a highly prospective Ni-Cu-PGE target. Newleyine is located around 30km east of Chalice Gold’s Julimar Ni, Cu, PGE project. While drilling at Mandrake’s Northern Territory – Berinka Pine Creek Gold Project is set to begin next week.
  • The development of Classic Minerals to become a gold producer continues. According to Classic Minerals, RC Drilling at Kat Gap is set to continue into the FY21 with targets on the interpreted plunge component of high-grade gold mineralisation with deeper RC drilling. Quarter 1 FY21 will also include advancing all aspects of the mining plan at Kat Gap, the acquisition of necessary mining equipment for Kat Gap and continuing to raise capital & pay down debt & liabilities to improve the financial position of the Company.
  • 460,000-ounce gold ore reserve has been declared at six deposits within 50 km of the Ora Banda Mining plant, this was one of the highlights for Ora Banda Mining for the previous quarter. An AISC of $1,578 /oz is one of the key outcomes within the DFS for an Australian gold price of $2,550. The recent capital raising Equity capital raising was strongly supported and proceeds from the equity raising, together with existing cash, will see Ora Banda fully funded through to production at Davyhurst, targeted for January 2021

    Dacian Gold
    Dacian are within FY20 guidance
  • Dacian Gold is within guidance for its Mount Morgans Gold Operation, reporting 138,814 oz at an AISC of $1,619/oz which was within guidance of between 138,000-144,000 ounces at MMGO AISC $1,550-1,650/oz for the financial year. Drilling programs commencing at the Cameron Well and Mt McKenzie deposits will take place within the first half of 2021 financial year. As of June 30, Dacian had a total cash and unsold gold on hand of $57.3 million.
  • Drill results at Kirkland Gold’s Fosterville Gold Mine have been released with several key intersects with Infill drilling into the Swan Mineral Reserves which included 976 g/t Au over 7.4 m, 933 g/t Au over 6.4 m  and 416 g/t Au over 6.8 m. According to Tony Makuch, President and CEO of Kirkland Lake Gold “Drilling at Fosterville continues to demonstrate the significant size and scale of the mineralised structures, all of which contain quartz veining with 2 visible-gold and all of which have the potential to host additional Swan or Swan-like zones. At the Swan Zone, results from new infill drilling include higher than expected grades, which is encouraging as we work towards our next Mineral Reserve and Mineral Resource update. In particular, the infill results confirm that the area where the Swan Fault and Swan Footwall Splay intersect contains more gold than currently modelled.” Kirkland also released Q2 results which included revenue more than doubling on same quarter in 2019, solid operating results and $537.4 million with no debt.
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Morning News Bites – Jul 30

COVID-19 cases set to be announced to be over 700 in Victoria, ASX rises on opening and Boeing phases out production of 747 jumbo.

  • FMG provide their results for the Q4 and FY20. Record iron ore shipments of 47.3 million tonnes were recorded for the quarter and FY20 guidance was exceeded. FMG maintained a leading cost position of US$ 12.94/wmt. Chief Executive Elizabeth Gaines says “This was an outstanding performance which underpinned the operational excellence we delivered in FY20, particularly during a quarter when we implemented a range of measures in response to COVID-19. I am very proud of the team’s commitment and cooperation during this time which has sustained our contribution to the Western Australian and national economies through the reliable and secure supply of iron ore to our customers.

  • Grades up to 20.6 g/t Au have been reported by Middle Island Resources in assays from drilling of 44 new holes on Middle Island’s Old Town Well deposit within its Sandstone Gold Project in WA. Phase 2 drilling results for the remaining three new satellite deposits are anticipated to be reported in coming weeks.
  • Godolphin Resources announce drilling is to commence at Copper Hill East as soil assay results confirm & define strong gold-copper & copper anomalism located approximately 35 km north of Orange in NSW. The Phase 1 RC drill program is to commence in August 2020, which will test the gold-copper anomaly in the north of CHE for porphyry gold-copper style mineralisation and the native copper zone to the south.
  • High-grade intersection and visible gold at Apollo Hill as Saturn Metals report that ongoing RC drilling at Apollo Hill has returned significant new intersections, with highlights of 5m @ 32.6 g/t Au from 301m, Including 3m @ 54.2g/t Au from 301m within, 9m @ 18.2g/t Au from 301m. The result from this intersection is amongst the best intersections seen to date at Apollo Hill, and contains the highest-grade individual assay ever returned from the project being 1m @ 128.5g/t Au from 301m. Managing Director Ian Bamborough said: “The latest assay results continue to highlight the potential to improve both the scale and quality of the Apollo Hill gold system.”
  • Multiple high priority targets identified at Yass Gold Project following geological and geophysical data review. Celsius Resources Limited has identified ten priority gold targets within its 100% owned Yass Gold Project in the Lachlan Fold Belt region of NSW, Australia. Chairman Bill Oliver said, “The Lachlan Ford Belt is an increasingly active exploration region due to the exciting gold deposits which have recently been discovered. We are pleased to be able to generate some high-quality targets within the region at both the Yass and Cullarin West projects.”
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Morning News Bites – Jul 29

Rio Tinto is set to release it’s half-year profits after market close today, CIMIC Group are in advance talks for a potential sale of a 50% stake in Thiess and the banks instructed to reduce dividends.

  • St Barbara release its Q4 and FY20 report, indicating an increase in gold production from the previous financial year with 108,612 ounces (Q3 Mar FY20: 91,547 ounces), and a consolidated gold production of 381,887 ounces (in line with guidance of 370,000 to 400,000 ounces) for the year.

  • Alto Metals hit more high-grade gold at the Lord Nelson Sandstone Gold Project in WA, highlights from recent drilling include 12m @ 5.0g/t gold from 244m. A further five RC holes of the company’s initial 1,500m infill drilling program have been received, with highlights of 28m @ 3.1 g/t gold from 228m (including 12m @ 5.0 g/t gold from 244m). These latest results followed up on the previous high-grade gold results from the primary zone of mineralisation beneath the pit announced in late April of this year.
  • Pantoro Limited has commenced drilling at the Maybell Mining Centre, the last of the identified phase one start up mining targets. Initial results from shallow drilling from the Lord Percy Deposit (located to the northeast of the main Maybell Deposit) are extremely encouraging. It highlights a shallow high-grade lode system, the intercepts from surface to 60 metres depth include 4m @ 13.58 g/t Au and 1.10 m @ 13.40 g/t Au.
  • Middle Island Resources Limited announced significant assays from new McIntyre satellite gold deposit in WA. These results are emerging from the Company’s Phase 2 reverse circulation drilling campaign at the company’s Sandstone gold project in Western Australia. The new results complement those derived from Phase 1 RC drilling at McIntyre, including highlights of 24m @ 1.66g/t, 23m @ 1.40g/t, 11m @ 1.39g/t and 18m @ 1.35g/t Au.
  • Chalice Gold’s maiden diamond drill program at the Pyramid Hill Gold Project confirms a large gold system at the Karri Prospect, providing new drill targets for the next phase of exploration in Victoria. All six initial diamond drill holes at the Karri Prospect intersected tightly folded, upright stratigraphy and primary gold mineralisation and indicate that the potential for a tier-1 scale gold system.
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Morning News Bites – Jul 28 GOLD HITS NEW HIGH!!

Todays morning news bites – GOLD HITS A NEW RECORD HIGH!! The gold price hit a high of over $1954US/oz ~ $2733AUD

 

  • Musgrave Minerals Ltd is pleased to report assay results for a further five reverse circulation drill holes and the first five diamond drill holes from the current program at the new Starlight gold discovery at Break of Day. Drilling continues to confirm the high-grade nature of the Starlight and White Light gold discoveries, with results from the RC drilling at Starlight delivering strong gold intercepts including a highlight of 14m @ 191.1g/t Au (3m @ 884.7g/t Au from 5m including; 1m @ 2,518.8g/t Au from 6m). According to Managing Director Rob Waugh, “Starlight continues to produce stunning gold results in near-surface drilling. Further RC drilling is underway to infill and extend the Starlight mineralisation with the aim of completing a JORC resource update late in Q3 2020. Diamond drilling is also continuing to test for depth extensions of the high-grade Starlight lode below 250 vertical metres and to further define the White Light lode. We anticipate having four drill rigs on site by mid August.”
  • RareX Limited has commenced at its 100%-owned Cummins Range Rare Earths Project in the Kimberley Region of Western Australia. The commencement of drilling marks an important milestone for the Company and the project as this is the first time it has been drilled since 2011, and aims to complete over 6,000m of RC drilling in the coming months. RareX Executive Director Jeremy Robinson said, “We are confident that this program will deliver the results required to advance Cummins Range as a significant rare earth asset in Australia at a time of increasing geopolitical tensions and strong forecast demand growth for rare earth permanent magnets.”
  • Xantippe Resources moves forward with the development of  the proposed phase 2 drilling programme to further explore the recently acquired  Southern Cross Gold Project, located south of the town of Southern Cross, Western Australia.
  • Australian gold and nickel company, Rox Resources Limited is providing an update on exploration activities at Youanmi in the OYG JV area. In conjunction with its joint venture partner Venus Metals Corporation Limited, Managing Director Alex Passmore says, “Grace continues to deliver impressive, high-grade results. I am particularly excited by the extent of mineralisation encountered in drill hole RXRC292 which demonstrates that not only does Grace carry very high gold grades, with 49 metres of mineralisation intersected there is potential for significant tonnages to be delineated.”
  • Gateway Mining Limited has entered into a tenement sale agreement for the sale of its Sylvania Project Exploration Licences in the Sylvania Inlier area of Western Australia. The divestment is part of the Company’s strategy of crystallising value from its portfolio of non-core exploration assets while maintaining a strong focus on ongoing gold exploration and development activities at its flagship 100%-owned Gidgee Gold Project.
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Morning News Bites – July 27 GOLD GOES BANG!

Sherwood Mining - Laneway Resources

Today’s morning news bites – GOLD GOES BANG!!!! Gold closes in on a new record high trading at $1918US/oz ~ $2700 AUD.

  • Bardoc Gold moved into a Definitive Feasibility Study during Quarter 2 and has stepped up the exploration and drilling efforts which will see Bardoc move to an emerging mid tier producer. Managing Director of Bardoc Gold Rob Ryan said “With the lifting of COVID-19 related travel and other restrictions during the Quarter, we were able to move rapidly to escalate key work programs, launching straight into the Definitive Feasibility Study, which has already shifted into top gear, while at the same time stepping up our exploration and drilling efforts. We also enjoyed significant early success with the drill rig during the quarter. Resource in-fill drilling at the cornerstone Zoroastrian and Aphrodite deposits during the quarter delivered some exceptional high-grade results, confirming the potential for reserve growth at both deposits. Exploration drilling also delivered very positive results at the Mayday North satellite deposit, which is emerging as a high-priority target for Resource and Reserve growth.” Bardoc have shown that the DFS is on track for delivery for Q1 2021.
  • A focus on the Wellington North Project as part of the Northern Molong Belt in NSW has been in place for Magmatic Resources for the June 2020 Quarter. Magmatic was awarded a New Frontiers Cooperative Drilling grant during the June 2020 Quarter, which will contribute $35,250 towards drill testing at the Lady Ilse North porphyry gold-copper target north of the lucrative Cadia Mine. After a diamond drill hole showed similar signs to the first drill at Boda, The results provided the Company with increased confidence in the potential for a large gold-copper porphyry discovery at Lady Ilse, where RC drilling is underway.
  • Wiluna Mining has released drill results from its Calvert target at the Wiluna Mining Centre. A highlight of 76.5m @ 1.77g/t intersection demonstrates a large-scale gold system according to Wiluna Mining’s Executive Chair Milan Jerkovic. “These ongoing results from drilling ‘under the headframe’ are continuing to deliver into our Stage 1 sulphide strategy as we pursue shallow high-grade resource development targets. Our initial sulphide resource drilling programme commenced at the Wiluna Mining Centre at Bulletin and Essex and has progressed to Calvert and the East Lode. We have had exceptional drilling results from all these areas and this has given us great confidence that Wiluna remains one of the largest undeveloped gold systems in Australia.” he said. A Mineral Resource update is due to be released in late September 2020.
  • A major multi target RC drill program is underway for Lefroy Exploration at Lake Lefroy with JV partners Gold Fields. Gold anomalies were uncovered in 2019 data as part of a wide-spaced foundation of aircore drilling and geophysical programs. Lefroy Exploration Managing Director, Wade Johnson said “This is an exciting phase of exploration to provide a deeper evaluation of the multiple, large regolith gold anomalies in Lake Lefroy. The priority gold targets generated are the culmination of a systematic and methodical exploration approach by Gold Fields over 2 years that has both generated multiple broad regolith hosted gold anomalies and confirmed the rock package as being similar to that at St Ives”  Drilling is expected to be completed in August 2020 with results known by September 2020.

 

Sherwood Mining - Laneway Resources

  • Encouraging gold drill results for Laneway Resources has been announced from its Sherwood resource area at Agate Creek in Queensland. The RC program took in 34 drill holes for 2,068m of drilling with intersects of 5m @ 5.80 g/t Au from 27m & 1m @ 40.64 g/t Au from 36m & 7m @ 15.08 g/t Au from 59 m including 1m @ 54.72 g/t Au. According to Laneway Resources, Once all assay results are received and evaluated, an updated pit design and mine plan will be completed. Finalisation of mining contractor, ore transportation and processing arrangements will occur after finalising the pit design and mobilisation of a contract mining fleet will then be able to commence.