Tag: Terrain Minerals

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Morning News Bites – October 12

The largest mining conference in Australia has kicked off today, with Diggers and Dealers now underway. KCGM set to recruit 700 jobs in Kalgoorlie Boulder as the Premier announces a mining extension has been granted at Super Pit special event.

Beacon Minerals Limited provided an update of activities at the Jaurdi Gold Project, announcing that it  produced 2,790 oz of gold during the month of September 2020. Beacon exceeded its production target from Jaurdi for the September 2020 quarter of 6,400 to 6,800 oz’s, with 7,453 ozs produced during the quarter, approximately 10% above the high‐end guidance and expects production from Jaurdi for the December 2020 quarter to be 6,600 to 7,000 oz’s. Debt $18.0 million (in the form of debentures) to be repaid today one year ahead of the repayment due date. On repayment of the debentures the company will be debt free.

Thomson Resources Ltd has managed to secure the RC drilling rig that undertook the Company’s maiden drilling program at the Yalgogrin Gold Project, for a short follow up drilling program commencing towards the end of October 2020. COVID-19 restrictions and the increased mineral exploration activity has meant that access to drilling rigs has become tight. The Company is pleased that Australian Mineral & Waterwell Drilling Pty Ltd were able to make the drilling rig available for Thomson between commitments to other customers.
Thomson’s drilling program in July 2020 discovered thick low-grade gold mineralisation from surface as well as deeper high-grade lodes, essentially on one north-south drill section. The follow up drilling program is proposed to extend the mineralisation by drilling sections either side of the first drill section and following the
mineralisation east and west. Samples will be analysed for gold and results should be available in November-December.

Ardea Resources Limited has announced that their first ever metallurgical testwork has been undertaken on four metallurgical samples selected from Ardea’s Big Four Gold resource, located on a granted mining lease within the Goongarrie Nickel Cobalt Project (GNCP), 65km north west of Kalgoorlie. It reports very high gold
recoveries from Big Four Gold deposit, with overall gold extractions of 97.7%. Significant proportion of gravity-recoverable gold revealed with potential for stand-alone toll treatment or incorporation into Ardea’s
broader gold strategy.

Terrain Minerals Limited updated the market of the drilling results from Terrain’s maiden RC Drilling Program at Smokebush Gold Project. A total of 12 RC holes (11 holes at the Monza prospect and 1 hole at Target
13) were completed for a total 981 metres as part of this first pass exploration program. The RC Drilling program was carried out over a 200-250m area to improve confidence in grade continuity and orientation identified in historic drilling and to test interpreted extensions to mineralisation. The drilling was concentrated at the Monza prospect area because this was identified as the most advanced target within the Smokebush project for hosting significant gold mineralisation. Multiple significant intersections were returned from drilling associated with shearing and alteration within meta-dolerite and felsic intrusive host rock.

Lefroy Exploration Limited reported initial results from the multi target drill program that Gold Fields Limited commenced in July 2020 on the company’s tenements over Lake Lefroy. The program is a follow up to the extensive foundation AC drilling that commenced in late January 2019 and is part of the AUD25 million Farm-In and Joint Venture (JV) agreement between Lefroy and Gold Fields that commenced in June 2018. The results from the ten initial RC holes continues to reinforce and advance understanding of the geological prospectivity beneath Lake Lefroy. Significant results include, 9m @ 3.58g/t Au from 96m including 1m @ 18.55g/t Au from 97m. 3m @ 3.25g/t Au from 82m including 1m @ 7.88g/t Au from 82m.  Gold Fields has completed the AUD4 million minimum exploration spend and is required to fund an additional AUD6 million for AFY2021 to earn a 51% interest in the Western Lefroy Joint Venture, which is part of the wholly owned greater Lefroy Gold Project (LGP) located 50km south east of Kalgoorlie.

 

 

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Morning News Bites – August 17

In Today’s Morning News Bites for August 17. 

Federal government to reveal details of vaccine trial agreements. JB Hi-Fi profits hit $302 million, boosted by people working from home. ASIC set to target the growing of Robinhood traders. 

Toro Energy recently completed a quartz vein outcrop sampling programme on the Golden Ways Target Area, which has yielded surface rock chip samples. The Golden Ways Target Area is located in the north of the Yandal Gold Project, near the Yandal Greenstone Belt in Western Australia. Highlights include samples of up to 14.7g/t gold and has generated anomalism over the entire 900m (approximate) strike length of outcropping quartz veins sampled. The anomalism identified in the quartz veins sampled in this programme will now undergo limited drill testing by reverse circulation (RC) drilling as part of the current planned 2020 exploration programme for the Yandal Gold Project. The RC rig is expected to mobilise to site in the coming weeks.

3D Resources report a 42% upgrade of gold in resources at the Adelong Goldfield. This includes a maiden resource for the Caledonian and Donkey Hill deposits, and a remodelling of resources at the Currajong deposit with the inclusion of a resource of parallel vein systems to the east. Chairman Mr Ian Hastings commented, saying “This maiden resource upgrade for the Adelong Goldfield Project is a clear sign of the exploration potential that the Company believes it can unlock. We are only scratching the surface and I look forward to quickly progressing further exploration activities.”

Krakatoa Resources commences diamond drilling at its Turon Project situated near Bathurst, NSW. The diamond drill program will test several exciting shallow gold targets situated within the Box Ridge and Quartz Ridge line of workings which strike over 2.4km and 1.6km respectively. The northern extension of the Quartz Ridge Mine where a shallow RAB drill program completed nearly 30 years ago identified several highly anomalous gold intercepts with results up to 10m @ 1.64g/t gold from the surface to end of hole. All holes were sampled throughout their developed length as a single composite sample of 10m and the anomalous results were never followed up. The program is expected to take approximately 4 weeks with assays to follow a further 3-4 weeks later.

Drilling has commenced at Smokebush Gold Project for Terrain Minerals, located approximately 65 kilometres west of Paynes Find within the Yalgoo mineral field of Western Australia. The maiden 1,000-meter RC drill program is now underway, the program may be enlarged subject to Terrain geologist’s ground interpretation and observations over the main target areas. Highlights that require work in historical sites include the Wildflower target which recorded 15m @ 1.4g/t Gold from 10m. The Smokebush project is considered by Terrain to be a high-quality gold exploration tenement package. Historic drilling is considered sparse and requires follow up exploration activities to further test their significant results.

Final permitting approvals for the Rover 1 drilling program to commence for Castile Resources, located approximately 80kms south west of West Arunta in the Northern Territory. Renewed Sacred Site Clearance Certificate has been received from the Central Land Council for the Rover 1 Gold Project tenements. Castile anticipates the drill rig will be mobilised to the Rover 1 site by Sunday 23 August 2020 and drilling operations will begin immediately after that.

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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).