Tag: Wiluna Mining

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What you missed in the news this week

Hancock Energy has increased its offer to buy Warrego Energy from $0.28 cash per share to $0.36 cash per share, totalling $447m if the offer is approved.

Three of the Four Warrego directors have recommended shareholders accept the deal over an offer made by Strike Energy, offering one Strike share for every Warrego share.

Hancock Prospecting

 

Great Western Exploration will extend its Firebird Gold Project after gold anomalism was found at their Greenstone Belt site, located near Wiluna.

The announcement saw a 4% share price increase for Great Western Exploration to $0.052.

 

Fortescue CFO Ian Wells has announced his resignation in order to spend time with family and friends.

Wells is the ninth executive in two years to resign, not long after Guy Debelle resigned in November last year.

Wells said that despite his resignation, “Fortescue is in a strong position to be able to deliver on short-, medium- and long-term growth options through the Iron Bridge magnetite project, Fortescue’s decarbonisation, and FFI’s (Fortescue Future Industries) portfolio of opportunities.”

Fortescue Metals

 

Everest Metals Corporation’s share price jumped 20.87% to $0.110 per share after an initial drilling program at their Mt Edon mining lease saw positive pegmatite levels, causing EMC  to push to exercise its exclusive farm-in option to acquire the right to 100% interest in the Mt Edon Project.

Chief Operating Officer, Simon Phillips said “EMC is pleased to announce its decision to exercise its right to farm into the Mt Edon LCT Pegmatite Project, subject to Shareholder approval. The company is pleased to have the opportunity to take the next step towards 51% ownership in a project with such an extensive array of pegmatite outcrops over six kilometres. The recent reconnaissance drill program gave EMC the data it needed to commit to the next stage of exploration at this highly fertile pegmatite field as part of the Company’s commitment to its Battery Minerals project development strategy”

 

Lithium Power International has commenced its drilling program at its East Kirup Lithium Prospect this week.

East Kirup is located in the Greenbushes region, Southwest of Collie.

LPI Executive Director, Andrew Phillips said ““The results of this drilling program will be used − along with previously completed environmental surveys − to prepare a CMP to allow drilling on new tracks, the commencement of phase three.

The intention is to hit the ground running in 2023, and we are pleased that the commencement of the program is so early in the year.”

 

The S&P/ASX 200 started off the week slow at 1,178 points before falling to 7,126 points on Wednesday. The market picked up again, increasing 202 points to finish off at 7,328 points.

The All Ordinaries finished at 7,540 points. The top performing stocks where Poseidon Nickle and Andromeda Metals.

 

Gold had a slow rise this week, starting at $1,882.00 USD and rounded the week off at $1,898.90 USD at the close of the ASX.

Silver was more turbulent, falling from $24.30 USD to $23.89 USD on Tuesday, raising again to $24.17 USD on Wednesday, then falling again on Thursday to $23.88 USD before finishing off the week at $23.94 USD.

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Morning News Bites – November 5

Wiluna Mining Increase Mineral Resource.

Wiluna Mining Corporation (ASX: WMX)has reported an increase to the Mineral Resource for the Wiluna Mining Centre, as part of the Company’s ongoing Sulphide Development plan.

Wiluna reported a 4.24Moz @ 4.89 g/t High Grafe Mineral Resource at the Wiluna Mining Centre, which is 11% more than reported in September, and 8.04Moz @ 1.63 g/t total mineral resource for the company.

Mining studies will be conducted to assess various mining options ranging from selective high-grade underground mining to bulk open pit and underground mining, or a combination of methods.

Wiluna Mining Executive Chair, Milan Jerkovic, commented:  “Our ongoing $30 million drilling campaign has focused on high-grade areas with the potential to be mined at the start of our Sulphide Development schedule. Drilling has successfully added tonnes, improved the grade and improved the portion within Measured and Indicated confidence categories. We are delighted by these results because they build upon our strategy to enhance the very large, high-grade Wiluna Mineral Resource. Drilling has been supported by our team’s diligent efforts to extract maximum value from the large amount of existing historical drilling and mining data, including assaying of intervals of mineralisation from the historical core library which comprises over 800km of core. These efforts have contributed to the impressive growth in our Mineral Resource base.

Investigator’s Paris Silver Project Yields High Grades.

Investigator Resources (ASX: IVR) announced that the Paris Silver Project is the highest-grade undeveloped primary silver project in Australia. With a JORC 2012 resource of 9.3 Mt @ 139g/t Ag and 0.6% Pb for 42 Moz contained silver and 55 kt contained lead, Paris is a shallow, high-grade silver deposit amenable to open pit mining.

Investigator’s Managing Director, Andrew McIlwain said: “We believe these initial and preliminary results support our objective with this infill campaign of improving both the grade and confidence in the estimated resource.

“Drilling started on Line 8, at the northern edge of the “200m Zone” Indicated Resource block, and results from the 9 holes drilled in Lines 8 and 8.25, are expected to extend the Indicated Resource to the north. With some eyewatering grades seen in these early results, it bodes well for an increase in the average resource grade in this area”.

“These initial and incomplete results from only 9 holes, of a program total of 276, along with the geological logging of the drilling to date, augurs well for the success of this program. This has provided the confidence for the Board to approve an additional 5,500m of drilling to further improve the Paris resource.

“We will have assays coming through on a regular basis over the next few months and look forward to providing further updates on results”.

AusQuest Completes Initial Reconnaissance Results

AusQuest Limited (ASX: AQD) advised the market that the initial reconnaissance drilling program has been completed at the Gunanya Project in the Paterson Province of Western Australia under its Strategic Alliance Agreement with South32.

A total of seven Reverse Circulation drill holes (totalling 1,916m) spaced 200m apart across each anomaly were completed to test three magnetic targets in order to determine their potential to host gold and copper mineralisation similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest), located in the northern half of the Paterson Province.

Drill samples were collected at two metre intervals from each drill-hole and sent to Perth for analysis. Assay results are expected within three to four weeks, at which time an assessment of the drilling results will be undertaken.

AusQuest Managing Director Graeme Drew said the Company was pleased to have successfully completed initial reconnaissance drilling of the Gunanya targets even though not all the magnetic targets had been properly tested.

“We have seen signs of alteration and sulphide mineralisation, albeit pyrite, in both the basement lithologies and the overlying sediments,” he said. “but assays are required before any proper assessment of the drilling results can be made.”

“Final assay data should be available over the next 3-4 weeks and we look forward to reporting on the final results once we have had time to analyse the data” he continued.

Yandal Resource Estimate for Flushing Meadows.

Yandal Resources Ltd (ASX: YRL) released an updated Mineral Resource Estimate for the Flushing Meadows gold deposit, part of its 100% owned Ironstone Well gold project near Wiluna in the Yandal Greenstone Belt of Western Australia.

The prospect is located 60km south- west of the mining town of Wiluna in close proximity to a number of gold development projects and operating mines.  The estimate contains a total 7.4Mt @ 1.13g/t Au for 268,000oz and utilised sample data from 420 RC drill holes and four diamond drill holes.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“Compared to the 2019 Mineral Resource Estimate the new estimate has a 60% increase in tonnage and a 12% reduction in grade for an overall 40% increase in total contained ounces. Importantly the new estimate has a 109% increase in material reporting to the higher confidence Indicated Resource category and the bulk of the mineralisation is located above 100m vertical depth.

The mineralisation remains open at depth and there are high priority exploration targets along strike and in adjacent positions that are being drilled currently. The Company plans to aggressively pursue Resource growth over the next two years with a large proportion of the exploration budget directed within a 10km radius of Flushing Meadows including the Oblique and Quarter Moon prospects where significant historic mineralisation occurs.

The Company has a dual strategy to prepare our most advanced prospects ready for mining whilst pursuing exploration targets capable of hosting multi-million ounce gold deposits known to occur in areas close to our projects”.

US Election and Gold.

It would seem the price of gold is fluctuating slightly as the fortunes of both candidates change throughout the vote count.  Some analysts believe that a Biden win will be good for the gold price and conversely Trump winning would see downward pressure on the metal price.

At the moment, with Biden looking set to win the election we could see gold remain above the US$1,900 and move toward the $US$2,000 mark again.

Gold has remained fairly stable compared to the last US election when it became obvious that Trump would win and gold soared by about US$150 , but only briefly.

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Morning News Bites – October 27

Wiluna Mining Excited About Latest Drill Results.

Wiluna Mining has released high-grade results from a further 45 holes and 10,534m of resource development drilling “under the headframe” at the Wiluna Mining Centre. So excited are they by the results that they titled their announcement: “The Giant is Now Very Much Awake.”

The Company is targeting infill definition and further extensions to high-grade sulphide zones in the initial areas to be mined, because every 1 g/t increase in the grade in the sulphides should result in an additional 25kozpa of production in Stage 1 and 50kozpa in Stage 2, resulting in lower production costs per ounce.

Wiluna Mining Executive Chair, Milan Jerkovic, commented:  “Exceptional drilling results continue to flow from high priority sulphide mining zones at the Wiluna Mining Centre. This is noteworthy because results will underpin our updated Ore Reserves estimate to be published in January 2021. The Company is targeting high-grade zones, because every 1 g/t increase in the grade should result in an additional 25kozpa of production in Stage 1 and 50kozpa in Stage 2.

Some of the results went ~11metres at 29.4g/t and 3 metres at 100g/t with other holes producing grades well over 5g/t.

They say that exceptional drill results from each of the priority mining areas continue to validate the Company’s Stage 1 target of mining approximately 750,000 tonnes of underground sulphide ore per annum to produce, when fully ramped up, approximately 120,000oz per annum in gold doré and gold in concentrate commencing in October 2021.

Stavely Reports Biggest Hits Yet at Cayley Lode.

Stavely Minerals released resource drilling within the high-grade Cayley Lode discovery at the Thursday’s Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project in Victoria, has returned one of the most significant intercepts since its discovery in September last year.

The spectacular new intercept in diamond hole SMD104, located ~275m south-east along strike from the discovery intercept of 32m at 5.88% Cu, 1.00g/t Au and 58g/t Ag in SMD050 continues to reinforce the scale, continuity and shallow nature of the copper-gold-silver mineralisation within the Cayley Lode.

An intensive resource drill-out is continuing with a focus of extending to the northwest within the 1.5km long discovery zone, with in-fill and step-out drilling continuing based on a roughly 40m x 40m drilling grid.  The Mineral Resource drill-out is well advanced and progressing well.

Very broad zone of significant copper mineralisation intersected from shallow depths in the Cayley Lode in drill hole SMD104:

144m at 1.04% Cu, 0.15g/t Au and 3.4g/t Ag from 35m down-hole, including: ▪ 84m at 1.55% Cu, 0.23g/t Au and 5.0g/t Ag from 95m, including: 28m at 3.31% Cu, 0.49g/t Au and 7.1g/t Ag from 151m

Resource drilling will continue on a 40m x 40m drilling grid with four rigs operating and two further large-capacity rigs expected on-site within the fortnight.

RareX claim Bonanza Grades for Rare Earths in Latest Drill Campaign.

RareX reported further significant results from recently completed in‐fill and extensional drilling at its 100%‐owned flagship Cummins Range Rare Earths Project in the Kimberley region of Western Australia.

Results from the two latest RC holes include significant widths of high‐grade rare earths and niobium mineralisation with broad zones of bonanza grade mineralisation encountered in one of the holes.

The north‐west trending channel of mineralisation encountered in previously released drill holes has been confirmed in the latest results, further enhancing the potential size and grade of the Resource in this area.

Previous historical drilling on surrounding sections had confirmed the presence of high‐grade mineralisation down to 70m below surface. The current drill program has now extended the zone of high‐grade mineralisation to 130m below surface.

One of the holes contained wide ultra‐high grade zones including 13m at 10.7% TREO and 1.04% Nb2O5 from 76m and 8m at 9.1% TREO and 0.58% Nb2O5.

RareX Managing Director, Jeremy Robinson, said: “We continue to be impressed by the consistency of this thick, high‐grade mineralisation within this north‐west channel within the Resource. These impressive results provide strong support for the potential both to upgrade the Resource and to define a high‐grade component within the broader Resource.

“Understanding the controls on the high‐grade mineralisation in the weathered zone will also assist with targeting potential high‐grade primary mineralisation in follow‐up drilling to further expand the overall size of the Resource.”

Horizon Says Pre-Feasibility Results Are Positive.

When releasing the pre-feasibility results for Horizon (ASX:HRZ) Managing Director Mr Jon Price said:  “Our Joint Venture partner RVT has done an excellent job demonstrating the quality and viability of this world class oxide vanadium resource. The Lilyvale deposit alone can provide globally significant supply for the next 100 years and easily expand production to meet the increasing demand from both the steel and emerging battery storage markets.”

“With this increase in demand in coming years and the reduction in the supply of vanadium from steel slags, we see the vanadium price continuing its steady climb and look forward to advancing the project to DFS level and commencing commercial production discussions with interested offtake partners.”

The Richmond – Julia Creek Vanadium Project is located approximately 50kms north-west of Richmond in North West Queensland. Richmond is a regional service town of 520 people situated 500kms by road to the west of Townsville and 400kms east of the mining town of Mt Isa.

The Mineral Resource update has resulted in improved grades over the previous Mineral Resource Estimate, and led to 76% of the Mineral Resource upgraded to the Indicated JORC Category for estimation of maiden Ore Reserves. In addition, the drilling enabled a large metallurgical sample representative of the orebody for additional concentration and downstream processing test work to also feed into the Pre-Feasibility Study.

A couple of nibbles for our News Bites:

Dacian Gold has re-negotiated their gold hedging for the next couple of years with 27,324 ounces moving from FY20121 to FY2022.

Managing Director, Leigh Junk, commented: “The restructuring reduces our obligations during FY2021, providing additional cash flow over the remainder of the current financial year by increasing our spot gold exposure. Now that our hedge profile is aligned with our production profile, the Company will be in a stronger position to pursue its corporate objectives.”

It would seem Mr Junk is turning the fortunes of the company around since coming on board.

Strategic Elements is developing a self-charging battery that it says will self-charge, be non-flammable, flexible, light and thin and environmentally friendly when compared to lithium batteries.  The batteries are “printed” and ideal for Internet of Things (IOT) devices.

SOR Managing Director Charles Murphy said: “Early stage results are extremely promising as we apply years of experience and intellectual property in electronic inks into the development of a Battery Ink that generates electricity from the environment. From the Automated Robotic Security Vehicle we are building with US giant Honeywell, the ongoing commercialisation of the Nanocube Memory Ink, this new development in Battery Ink and other commercial activities on the horizon, SOR is generating significant momentum”.

 

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Morning News Bites – October 8

Morning News Bites for October 8

High Grade Hits at Bellevue.

Bellevue Gold (BGL) has reported that it has discovered a new shallow high-grade shoot at its Bellevue Gold Project in Western Australia.

Bellevue Managing Director Steve Parsons said: “The drilling results on the new Armand lode are outstanding, with high-grade mineralisation intersected near existing development hosted within the Bellevue Shear.

With mineralisation outlined over 450m and remaining open along strike and down dip, Bellevue will press ahead with drilling with a view to including Armand in the next resource upgrade.

The company has also hit some high-grade results close and east of their Deacon lode.  This was discovered when drilling a new location, which was partially financed by the Exploration Incentive Scheme

Bellevue has been aggressive in its drilling campaign while still maintaining the project development.

Mr Parsons said:  “We have earmarked $35 million for exploration spending on a full program of drilling and project development work over the next 15 months.

“This substantial investment is central to our dual-track strategy of driving growth in our inventory through aggressive exploration and resource drilling while also advancing the project towards development and cashflow.

“These parallel work streams will maximise our ability to continue creating value for shareholders in both the short and long term.”

Grades included:  6.1m @ 14.5g/t and 3.7m @ 26.2g/t

Dreadnought Announces Encouraging Drill Results.

Dreadnought Resources Limited (DRE) has announced further results from the 17-hole (1,767m) RC drill program at Metzke’s Find, part of the Illaara Gold-VMS-Iron Ore Project. The latest drill program tested extensions of lode mineralisation at depth and along strike confirming mineralisation along ~280m of strike and to a vertical depth of ~100m.

Dreadnought Managing Director, Dean Tuck, in a statement said: “Metzke’s Find continues to deliver high-grade intercepts while we steadily increase our understanding of the system. Identifying the flat lying offset now indicates that the first five drill holes drilled to the north probably ended short. This learning is significant and reopens ~80m of potential mineralised strike. We look forward to redrilling the main structure to the north as well as diamond drilling to further advance our structural understanding of the mineralised lodes. Furthermore, results from Longmore’s Find and Black Oak should be released in mid-October 2020.”

Illaara is located 190km northwest of Kalgoorlie in the Yilgarn Craton and covers 75kms of strike along the Illaara Greenstone Belt. The land was previously under the control of Newmont and until Dreadnought took over the lease, had very little exploration carried out.  The land was previously earmarked for iron ore exploration, but Dreadnought has focused on the gold potential in the area.

Yandal Releases Further High-Grade Results.

Yandal Resources (YRL) released further results from its current drilling program that shows high-grade gold mineralisation at shallow depths in their Gordons Dam prospect.  36 holes from the RC drill program are still pending and the company is keen to include them in their maiden resource estimate.

A further 10,500 metres of air-core and diamond drilling is expected to be completed in the December quarter.

When releasing the latest results Managing Director Mr Lorry Hughes said: “The potential to define an initial shallow Mineral Resource and subsequent open pit development is becoming clearer as infilling wide-spaced reconnaissance holes with high quality RC holes is proving successful. Very high grades can be a common feature of palaeochannel hosted deposits in the region and they are quite often located close to a primary source or structure.

High grades have been intersected beneath parts of the palaeochannel previously and the exploration plan is to continue to explore for deeper extensions utilising geological and structural observations from the pending diamond core drilling.

In the meantime shallow Air-core drilling will continue to explore for new palaeochannel and bedrock hosted gold trends in order to provide new targets for RC testing”.

Some of the results included:  1m @ 73.12g/t Au within 8m @ 11.03g/t Au from 36m and 1m @ 15.13g/t Au within 7m @ 3.48g/t Au from 38m.

Wiluna (WMX) Updates Sulphide Development

Wiluna Mining is advancing its $58m stage-one sulphide expansion project at its Wiluna gold mine, which it said will increase production from circa 60,000 ounces of gold a year to 250k ounces a year by late 2023 when the stage 2 expansion is completed.

In a statement to the ASX the company said that at its last board meeting it was approved the concentrator construction works to be completed by GR Engineering Services.  Construction is planned to start in March next year according to the company’s timetable with commissioning commencing in October.

Milan Jerkovic, Wiluna Mining’s Executive Chair commented: “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.

The challenge now is to deliver on Stage 1 and scope out the optimum size for Stage 2 given the considerable size of the Wiluna orebody. This will take shape in the Feasibility Study which is currently being undertaken. We are now exactly halfway through our 24 months strategy to turn the Company around, deliver real value to our shareholders and maximise the true potential of the Wiluna Mining Complex. We are delivering on our promises and we plan to execute with precision. The sheer size of Wiluna, which is now the 7th largest gold district under single ownership in Australia, based on JORC Mineral Resources, throws up challenges but nothing worthwhile comes easy and we believe the prize for shareholders of developing this project in a systematic, thorough and staged manner to become a Tier 1 asset in a Tier 1 jurisdiction will be worth it”.

Granny Smith Mine Powered by Renewables.

Continuing its push with renewable energy after its Agnew mine became the first in Australia to be powered with wind-generated electricity, operating a 56MW renewable energy grid, Gold Fields has built a solar system to help power capacity at its Granny Smith operations.

The system has 20,000 solar panels attached to a 2megawatt – 1megawatt battery system to store the energy produced by the panels.  It is expected the solar array will help reduce fuel consumption on the site by more than 10%.

Gold Fields Executive Vice-President Australasia Stuart Mathews is quoted as saying:  “Here in Australia and globally our company is committed to addressing climate change impacts by transitioning towards an energy mix that increasingly embraces renewables and lower carbon fuel sources,” Mathews said.

“The Granny Smith microgrid and the renewable energy solution at our Agnew mine are a clear demonstration of the innovative steps we are taking to ensure the ongoing sustainability of our operations.”

The system was installed by Aggreko and becomes part of the self-contained system on site.

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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 – 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.