Tag: Sabre Resources

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Morning News Bites – October 2

Sizzler closes its nine restaurants across Australia, Dancing and more to be back on the Queensland social scene and Google pledges $US1b to publishers for news content. 

Antipa Minerals Limited has announced commencement of a diamond and air core drill program at the wholly owned 144km2 Minyari Dome Project,  which is within 35km of Newcrest Mining’s Telfer Gold–Copper‐Silver Mine and 75km of Rio Tinto’s Winu copper‐gold‐silver development project. This includes a 3,800m resource definition diamond drill programme at the Minyari and WACA and 3,000m greenfields air core drillling.

 

Drilling at Coogee (Victory Mines)

A 30 hole, 4,000m RC drilling programme has commenced for Victory Mines with RC drilling to target areas along strike and below the previously mined high grade Coogee pit. The drilling will extend over the entire 600m long pit trend with Drilling aimed to outline additional gold mineralisation that could upgrade the current resource estimate. Coogee is located south east of Kalgoorlie and on the north side of Lake Lefroy, which is in proximity to GoldFields St Ives. According to Victory Mines, The 4,000m RC drill programme will drill test the down plunge extensions of a number of the high-grade gold shoots within the overall 600m strike length Coogee pit trend and below the previously mined Coogee pit.

An update has been provided for Sabre Resources planned drilling program at Bonanza Gold Project. Drill program approval applications have been lodged at the Department of Mines with drilling companies contacted and a start date announced when approvals have been granted. Sabre are looking at a 1,500m Aircore drilling program planned to test priority targets.

Wiluna Mining Company has updated the market on its Sulphide Development at Wiluna. The approval of the construction of the concentrator was completed by the board and  Milan Jerkovic, Wiluna Mining’s Executive Chair was pleased to report the progress.  “I’m pleased to report that significant progress has occurred surrounding the sulphide development plan. A significant hurdle was met when the Board of Directors approved the construction of the concentrator and the appointment of GR Engineering to undertake the EPC contract for construction. The timetable is confirmed and the capital requirements for Stage 1 will be fully funded with the expected draw down of the Mercuria second tranche debt facility and work will commence immediately with commissioning planned for September 2021.”

Diamond Drilling has commenced on the Andover Nickel-Copper Project (60% Azure / 40% Creasy Group), located in the West Pilbara region of Western Australia. An initial 12-hole, 3,000m diamond core drilling program on defined targets is underway with downhole EM surveying of drill holes. Azure Managing Director, Mr. Tony Rovira said: “We’re very pleased to get our first drilling program at Andover underway so quickly, in what is a target-rich environment for nickel and copper sulphide mineralisation. Azure has hit the ground running with the initial six-week program of ground EM surveying now completed and our first drill program underway.” Mr Rovira also said there would be high priority of drilling the anomalies “The ground EM surveying has identified numerous electromagnetic conductors indicative of bedrock hosted sulphide mineralisation and drilling of these new anomalies will be undertaken as a matter of high priority. Drilling will continue through to the end of the year, with first assay results expected later this month.”

 

 

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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 – August 21

In the Morning News Bites for August 21 2020.

Coventry Group recorded Group sales growth for FY20 including acquisitions of 22.3%. Suncorp has recorded an earnings slide and A2 Milk look to baby formula.

A detailed airborne magnetic survey has been completed for Sabre Resources near the Penny West Gold Mine. According to Sabre they will identify the highest priority drilling targets and will then immediately take steps to commence planning for a drilling program.

FE limited are set to acquire a 50% interest in the Yarram Iron Ore project in the Northern Territory and will operate the resulting JV. Highlights at the site include 108m @ 65.6% Fe, 2.3% SiO2, 1.8% Al2O3, 0.037% P and 65m @ 66.4% Fe, 2.0% SiO2, 1.5% Al2O3, 0.022% P from 13m. Chairman of FE Limited Tony Sage said “With iron ore prices at six year highs, mature iron ore assets such as we have identified at Yarram are highly sought after. It is even more difficult to find one that hosts high grade iron ore mineralisation, that’s located just over 100km from a major port, and is in close proximity to existing mining infrastructure.” Consideration of A$1.5 m in cash and shares payable with a further $1.5m in cash and shares payable on achieving a JORC indicated resource. FEL to cover certain historical and future costs.

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Elizabeth Gaines has given an indication on Mineral Reserves for Fortescue Metals Group this morning “We are pleased to report over 2.2 billion tonnes of Hematite Ore Reserves and 5.8 billion tonnes of Mineral Resources at our operating properties, supporting the sustainability of our core iron ore assets across our Solomon and Chichester Hubs, as well as our developing Western Hub. Our investment in significant growth projects including the Eliwana Mine and Rail Project in the Western Hub is now well advanced with first ore on train scheduled in December 2020. Our Iron Bridge Magnetite Project is developing Australia’s largest publicly disclosed magnetite Mineral Resource, with first ore on ship planned in the first half of calendar year 2022.”

Mineralisation at De Grey Mining‘s Brolga Zone has identified trends to the north.  De Grey Managing Director, Glenn Jardine, gave a further insight to the recent drilling “We continue to test for extensions to known mineralisation around Hemi using aircore and RC drilling. Aircore drilling has intersected new mineralisation approximately 320 metres north east of Brolga. This is along the structural corridor heading toward Scooby. RC drilling has succeeded in identifying extensions to the north of Brolga, heading toward Aquila. Specific diamond drilling has been conducted to provide samples for metallurgical variability and optimization test work. The assay results from metallurgical drilling will provide additional information on internal continuity of the gold mineralisation within Brolga.”

Perth based mineral explorer, Cullen Resources has re- prioritised drilling for its operations due to rain.Its Wongan Hills Rupert project was due for RC Drilling for August but has since been postponed, this will commence as soon as possible however. The Wongan prospect is showed an intersection of up to 1m @ 3.7% Cu, 1.5 g/t Au, hole with DHEM survey taking place. While at the North Tuckabianna project during September Cullen intends to RC drill test two DHEM targets for gold and base metals.