Tag: Thomson Resources

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Morning News Bites – October 1

Morning News Bites for September 30. PM to announce $1.5 billion manufacturing boost to bring 80k jobs to Australia, experts predicting that half of Australian university researchers face the axe and Victoria COVID-19 death toll reaches 800.

Cyprium Metals Limited commenced analysing the potential of the Nanadie Well Copper-Gold Project, which is located 75km east-northeast of its existing Cue Copper-Gold Project, in Western Australia. The supergene mineralisation has been intersected in shallow drilling over a strike length of 750 metres and remains open along strike in both directions. Typical supergene intersections include, 6m @ 4.79% Cu, 0.36 g/t Au, 1.83 g/t Ag from 1m and 8m @ 2.53% Cu, 0.69 g/t Au, 3.88 g/t Ag from 33m in drill hole. Executive Director Barry Cahill commented, saying “We are pleased to announce the preliminary results of the geological interpretation that we have undertaken at the Nanadie Well Copper-Gold Project. There is significant potential for shallow supergene copper-gold mineralisation above the sulphide mineralisation at Nanadie Well.”

Thomson Resources Ltd has advised that it has completed due diligence on the Hortons gold tenement it is acquiring from private company, Syndicate Minerals Pty Ltd to Thomson’s satisfaction. The Hortons gold tenement is situated 30km of Tenterfield in Northern NSW and has high potential for Intrusion-Related Gold System type gold mineralization. The tenement covers 58 sq. km and has several gold anomalies. This is the first of the key Conditions Precedent to Thomson’s acquisition of the Hortons gold project. The next steps towards completion of the acquisition will now be proceeded with, including, obtaining Thomson shareholder approval to the issue of the equity consideration, this will be sought at the AGM on 26 October 2020 and with Ministerial approval of the transfer of the tenement to Thomson.

Further to its announcement of 16th July, AusQuest Limited reported that drilling of several compelling gold-copper targets at the Gunanya Project in the Paterson region of Western Australia is set to commence in early October under its Strategic Alliance Agreement with South32. The reverse circulation drilling program will consist of 6 to 9 drill-holes for a total of ~1,800m, and will provide an initial test of three magnetic targets to determine their potential to host large-scale gold and copper mineralisation, similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest). AusQuest Managing Director Graeme Drew said the Company was pleased that drilling of the Gunanya targets was able to get underway this late in the season. “These are compelling targets based on analogies that we have been able to draw with new discoveries in the Paterson Region from both a gold and a copper perspective,” he said. “We are looking forward to reporting on the drilling at Gunanya once the program gets underway.”

Bellevue Gold Limited is pleased to announce that extensional and infill exploration drilling at the Bellevue Gold Project in Western Australia has intersected high-grade mineralisation both outside and within the existing know resource boundary. Drilling has been continuing on site and has included infill drilling to upgrade the indicated resource later in the December quarter and the resumption of exploration step out drilling at the project. Hits up to 163g/t also point to extensions of the Deacon, Deacon North and Bellevue
Lodes; Indicated Resource upgrade set for this quarter. Managing Director Steve Parsons said the Company’s investment in exploration drilling continued to create significant value for Bellevue stakeholders.
“We have hit more high-grade mineralisation in previously-untested areas,” Mr Parsons said. “These results extend the known limits of the mineralisation. At the same time, our infill drilling continues to return strong results which should help drive an increase in the Indicated Resource.”

Barra Resources Limited is pleased to advise that reverse circulation and diamond drilling is scheduled to commence mid-late October at the Burbanks Gold Project. The drilling program will specifically follow-up encouraging RC drill results from 2019 which intersected high-grade mineralisation to depths of 100m below the surface, along 600m of prospective strike along the Burbanks Shear Zone between the Main Lode underground mine and the Burbanks North deposit. Mineralisation is open at depth and the planned program aims to test the prospective 600m of strike to depths between 130m and 350m below surface where mineralisation is open and untested. The drilling program is estimated to take between 4 and 6 weeks with results to be announced within 2 weeks of program completion.

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Morning News Bites – July 20

Prime Minister Scott Morrison’s popularity has increased to its highest level in 12 months in the latest Newspoll, COVID-19 spread in New South Wales attracting more concerns and interest around Newmont and Northern Star Resources as NSR let lapse its exclusive purchase rights according to the AFR.

  • Classic Minerals has purchased a Gekko Processing Plant to use at Kat Gap 130km south east of Southern Cross. The gravity concentration processing plant has a capacity of 30 tph and is a flexible design for mobility is scaleable to a Gekko Python Plant with a processing capacity of 250tph. The Gekko plant is ideally suited to the Kat Gap ore which has a very unique high level of gravity gold concentration.
  • Kin Mining has announced a new Australian share holder who has subscribed for $1m in shares while Kin`s two largest shareholders (Delphi and Harmanis) subscribed for an additional $573,000. Kin has restricted the amount of new shares on offer after the recent rights issue. Phase 3 drilling is fully funded until the end of FY 2021 and a strong news flow from drilling is expected. Kin Mining’s Managing Director, Andrew Munckton, said “The additional funds raised through the placement of this Shortfall, together with the $6.066 million already raised from the Rights issue, gives us the capacity to complete our Phase III exploration program across the Cardinia exploration targets to the end of FY2021, as planned.”  
  • The new camp at Aurora Tank has arrived and has been installed at Marmota for it’s, Aurora Tank Gold Discovery. The camp is operational and drillers are expected on site tomorrow (July 21 2020). Marmota recently raised $6.5M and received a $225,000 grant from the South Australian Government as part of the Accelerated Discovery Initiative. 
  • South32 has achieved record production in Australia with its Australia Manganese Ore Joint Venture in the FY20, alongside record results at its Brazil Alumina and Hillside Aluminium operations. Australia Manganese saleable ore production increased by 4% as Manganese ore sales increased as market conditions were favourable. S32 saw saleable production increase by 2% at its 86% share Worsley Alumina, where improvement initiatives are expected to support a sustainable increase in production to nameplate capacity.  While Cannington in Queensland has reduced its run of mine stocks and a further improvement in underground mine performance helped push a 14% lift in ore processed. According to South32 CEO Graeme Kerr,  “Our priority remains keeping our people safe and well, maintaining reliable operations and supporting our communities through the COVID-19 pandemic. Despite the health crisis, we delivered a strong operating result, highlighted by annual production records at Brazil Alumina, Hillside Aluminium and Australia Manganese ore. We have continued to see good demand for our products, with sales exceeding production at the majority of our operations. With uncertainty remaining in global markets we continue to manage our financial position to ensure we retain the right balance of flexibility, efficiency and prudence. Looking forward we remain focussed on reducing controllable costs, managing counterparty and supply chain risk and optimising working capital to ensure the business remains resilient during a potentially extended period of volatility and lower commodity prices.”
  • Drilling for Thomson Resources at their Harry Smith gold prospect on the Lachlan Fold Belt in New South Wales, has been put on hold due to wet ground. However drilling is being undertaken and has commenced at Yalgogrin gold project while waiting for ground to dry at Harry Smith. Wet weather, fog and the ground conditions around Harry Smith has meant the suitability of drilling is not conducive and the time for the ground to dry will take a number of days. This has resulted in the AMWD drilling rig being mobilised to Yalgogrin. Once ground is suitable, drilling will recommence at Harry Smith.

 

 

Quick Notes –

Legend Mining has added Oliver Kiddie to its board as an Executive Director. Mr Kiddie will commence August 10 2020 as Derek Waterfield will move away from his board role and take up the role of General Manager Exploration.

Halloysite confirmed across the Eyre Pennisula for Archer Materials. Greg English, Archer Chairman said “We have directly identified halloysite, which is a high value form of the alumina-silicate clay kaolin, at Kelly Tank, Bunora and Bunora East prospects. This is an excellent result that confirms reports of the [kaolin] mineralisation by historic explorers, as well as the presence of halloysite across a large geographical area with all samples tested being close to surface.”