Legacy Minerals Intersects Black Range Epithermal Veins

THE DRILL SERGEANT: Legacy Minerals (ASX: LGM) has completed its first diamond drilling campaign at the company’s 100 per cent-owned Black Range project in New South Wales.

Legacy Minerals carried out its first-phase diamond drilling program at the Sugarbag Hill prospect, completing two holes totalling 870.7 metres.

The drilling intersected veins indicative of a low-sulphidation epithermal style of mineral system, supporting the company’s exploration targeting model.

Diamond core is currently being sampled before dispatch to laboratories for assay with results expected to be received in July 2024.

“The visual confirmation of epithermal veins in the initial drill holes completed at Black Range is a great outcome,” Legacy Minerals CEO & managing director Christopher Byrne said in the company’s ASX announcement.

“Our goal was to identity potential feeding structures that may have caused the widespread gold anomalism at surface.

“We achieved our intended proof-of-concept early in this campaign and have decided to await assays before returning for follow up drilling.

“The diamond drilling targeted a large, 2.2 kilometres surface gold trend at Sugarbag Hill which includes a higher tenor, 800 metres long zone with an average of 107.5ppb gold in soil samples.

“Visual observations in the drill core of chalcedony-adularia and bladed carbonate with fluorite support our interpretation of a low-sulphidation style epithermal system.

“With the initial drill program complete at Black Range, the team is now mobilised to Bauloora where drilling is commencing.

“This is an intensive period of exploration and an exciting time for our shareholders, as we progress with our goal of executing four discovery-focused drill campaigns at four different projects this year.

“These include Black Range, Bauloora with our earn-in partner Newmont, Glenlogan with earn-in partner S2 Resources, and EarthAI at Fontenoy.”

Chris Byrne with The Resources Roadhouse at RIU Sydney Resources Round-up.





Wildcat Resources Extends Luke Discovery Strike Length

THE DRILL SERGEANT: Wildcat Resources (ASX: WC8) announced high-grade lithium results from its Luke Pegmatite discovery within the company’s Tabba Tabba lithium project in Western Australia.

Wildcat Resources declared the drilling to have extended the Luke discovery by more than 800 metres strike with intercepts including:

Two wide zones in hole TARC348D
43 metres at 1.4 per cent lithium oxide (Li2O) from 316m (estimated true width), and
43.4m at 1.1 per cent Li2O from 412m (est. true width); and

Two wide zones in hole TADD030
54.4m at 1.2 per cent Li2O from 267.9m (est. true width), and
25m at 1.2 per cent Li2O from 363.9m (est. true width).

“These latest broad mineralised zones at the Luke Pegmatite are exceptional,” Wildcat Resources managing director AJ Saverimutto said in the company’s ASX announcement.

“We are very excited, as the new results confirm the discovery has broad, high-grade zones sitting directly beneath our Leia Pegmatite body.

“Luke has potential to have a significant positive impact on the overall system.

“We have four rigs onsite, aggressively drilling new targets at Tabba Tabba.

“The Luke discovery is testament to the quality of our geological team and their target generation.”

Wildcat considers the results from the Luke Pegmatite to be encouraging for the company to continue its aggressive exploration campaign across the Tabba Tabba tenements to test new search spaces.




Spartan Resources Extends High-Grade Pepper Gold Discovery

THE DRILL SERGEANT: Spartan Resources (ASX: SPR) released new assay results from recent surface drilling targeting the high-grade Pepper gold prospect within the company’s 100 per cent-owned Dalgaranga gold project (DGP) in the Murchison region of Western Australia.

Spartan Resources declared the assays from Pepper prospect, sitting adjacent to the 0.95 million ounce Never Never gold deposit, demonstrate increasing ounces per vertical metre potential.

The company said the latest drilling intercepts had expanded the high-grade Pepper discovery, including:

14.73 metres at 11.42 grams per tonne gold from 553.73m down-hole, including 4.37m at 36.8g/t gold.

This intercept was located approximately midway (~50m north) of the initial previously announced Pepper discovery hole DGRC1432-DT, which returned 17.52m at 15.86g/t gold.

17.67m at 6.58g/t gold from 561.85m down-hole, including 7.53m at 11.93g/t gold.

This intercept was located down-dip of another previously announced Pepper discovery hole, midway between DGRC1432- DT and DGDH069, which returned 11.28m at 5.94g/t gold.

“Our focus on drilling, closing the gaps and achieving significant outcomes in front of our established infrastructure continues to deliver in spades with our ongoing drilling success at the recently discovered Pepper gold prospect,” Spartan Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“Pepper is located less than 100 metres south of the high-grade 0.95 million ounce Never Never gold deposit and we couldn’t be happier to see the rapid emergence of another substantial high-grade body of mineralisation next to our flagship deposit with each new drill result.

“We are very confident that Pepper will become a standalone gold deposit and, to ensure that outcome, we will be completing a maiden Mineral Resource Estimate for this exciting prospect as part of our foreshadowed mid-year MRE update for Dalgaranga.”




American West Metals Defines Thick New Copper Zones at Storm

THE DRILL SERGEANT: American West Metals (ASX: AW1) has intersected thick new zones of copper mineralisation at the company’s Storm copper project on Somerset Island, Nunavut, Canada.

American West Metals’ 2024 Reverse Circulation (RC) drilling has delivered immediate success with drilling of geophysical targets intersecting thick new zones of copper mineralisation including:

SR24-02 (Cyclone North)
36.6 metres of visual copper sulphides from 79.3m downhole;

SR24-03 (The Gap)
47.2m of visual copper sulphide mineralisation, including a 10m interval of very strong visual copper sulphides from 36.6m downhole; and

SR24-04 (The Gap)
30.5m of visual copper sulphide mineralisation from 29m downhole.

The company intimated visual copper sulphide mineralisation intersected in SR24-03 and SR24-04 appears akin to high-grade copper sulphides encountered in the 2023 discovery hole at the nearby Thunder prospect, which returned 48.6m at 3 per cent copper (ST23-03).

“This year’s drilling program has immediately built on last year’s successful program with the expansion of the large-scale copper footprint at the Cyclone deposit, and with new zones of thick near-surface copper mineralisation intersected at the Gap prospect,” American West Metals managing director Dave O’Neill said in the company’s ASX announcement.

“This initial phase of drilling was designed to test a number of existing resource and geophysical targets, working in parallel with the Moving Loop EM (MLEM) survey as it identified new resource expansion and exploration targets.

“The exploration drilling has had immediate success and has clearly demonstrated that the southern graben area can host multiple high-grade copper deposits.

“This vast fault network remains largely untested, highlighting the exceptional exploration upside and resource growth potential of this area.

“The MLEM survey continues to make rapid progress with the completion of Phase 1 of the program.

“The next phase of the survey will search deeper, below the known copper deposits for a repeat of the Cyclone style mineralisation at depth, and potential for the discovery of sedimentary copper deposits of similar style to the major Central African copper belts.

“We look forward to reporting more news from Storm in the coming weeks, including additional drilling and geophysics updates.”




Flynn Gold Encounters High-Grade Veins at Golden Ridge Adit

THE DRILL SERGEANT: Flynn Gold (ASX: FG1) reported a high-grade gold encounter from the Link Zone prospect at the company’s 100 per cent-owned Golden Ridge project in Northeast Tasmania.

Flynn Gold recorded high-grade gold assays during a recent field mapping and sampling campaign at the Link Zone prospect that sits between the Trafalgar and Brilliant prospects along the Golden Ridge granodiorite contact.

Previous diamond drilling at Trafalgar and Brilliant was encouraging producing multiple intersections over 100 grams per tonne gold at the Trafalgar prospect, which is currently the subject of a diamond drillhole campaign.

Flynn Gold completed mapping and vein sampling within the historic Golden Ridge adit, from which it has identified a new zone of high-grade gold mineralisation in the Link Zone prospect.

Underground grab sampling of mineralised veins in the adit returned high-grade gold assays, including 64.4g/t gold, 37.6g/t gold and 15.9g/t gold.

“Our confidence in Golden Ridge as an extensive, high-grade intrusive-related gold system continues to grow with these Link Zone results confirming that high-grade mineralisation exists within an increasingly well-defined corridor that has the potential to link the Brilliant and Trafalgar prospects over a strike length of 2.5 kilometres,” Flynn Gold managing director & CEO Neil Marston said in the company’s ASX announcement.

“Whilst drilling is ongoing at Trafalgar our exploration team is actively exploring to further extend the gold system at Golden Ridge which we expect will lead to identifying additional drilling targets similar to the Link Zone.”





GreenTech Metals and Anax Metals Strike Copper Focussed Pilbara Based Metal Alliance

THE BOURSE WHISPERER: GreenTech Metals (ASX: GRE) has struck a deal with Anax Metals (ASX: ANX) to jointly assess potential of the latter to treat the former’s base metal assets.

GreenTech Metals and Anax Metals have signed a non-binding and non-exclusive Memorandum of Understanding (MoU) under which they will assess potential treatment of ore from GreenTech’s wholly-owned open-pittable Whundo deposit, at Anax’s fully-permitted Whim Creek Processing hub.

The proposed Whim Creek project (80% owned by Anax and 20% owned by Develop Global) will consist of a new concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore.

Here’s where the deal makes sense; Whim Creek is located 115 kilometres southwest of Port Hedland in the West Pilbara region of Western Australia, and just 100km northeast of GreenTech’s Whundo deposit.

The two companies are forming a Pilbara Base Metal Alliance which they envisaged to consist of base metal explorers that are seeking to monetize assets that are within trucking distance of Whim Creek.

“This is a great opportunity for GreenTech that could see a formalised Alliance with Anax taking significant steps towards establishing near-term mining operations at our Whundo project,” GreenTech Metals managing director Tom Reddicliffe said in the company’s ASX announcement.

“Our project already has defined open-pittable copper and zinc resources and potential to define additional near surface resource tonnes at both Yannery and Ayshia.

“The alliance could be the catalyst that the West Pilbara needs to become a significant copper producer and we look forward to working closely with Anax to make this a reality.”




Helix Resources Commences Canbelego Copper Drilling

THE DRILL SERGEANT: Helix Resources (ASX: HLX) has commenced a drill campaign at the company’s Canbelego copper project in the Cobar-Nyngan area of central New South Wales.

Helix Resources is targeting highly prospective IP anomalies within the Canbelego Joint Venture project that is part of its Western Group Tenements.

Helix Resources recently completed an induced polarisation (IP) survey northwest of the Canbelego copper deposit extending the IP coverage north of known mineralised zones.

The PDIP survey defined a prominent NNW-trending Western chargeable anomaly with a strike length of 625m.

Up to 3000m of drilling has been allocated to test this undrilled Induced Polarisation (IP) chargeable anomaly located west of the Canbelego copper resource that the company considers highly prospective for additional Cobar-style parallel copper lodes.

“The new ‘far’ Western Canbelego target is the largest and strongest IP anomaly which we have identified to date,” Helix Resources managing director Dr Kylie Prendergast said in the company’s ASX announcement.

“The commencement of a new drilling campaign is always exciting and I am very interested to see what we unearth by testing this large-scale, chargeable and as-yet undrilled target.

“This program is testing for new Cobar-style deposits which often feature as parallel lodes of copper mineralisation, such as those seen at Metal Acquisition Limited’s large, high-grade CSA copper deposit.

“Helix believes that the Canbelego copper deposit is analogous to the CSA copper deposit, with three separate high-grade copper lodes already identified in drilling to date.

“Whilst we wait for the first assays from the Canbelego drilling, expected in late June, we are continuing infill auger drilling for gold at our Eastern Group Tenements.

“We plan for a strong stream of news from this highly active period.”




Miramar Resources Identifies High Priority Bedrock Gold Target at Gidji JV

THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has upgraded the 8-Mile target within the company’s Gidji JV project outside of Kalgoorlie in Western Australia.

Miramar Resources achievd the upgrade via reprocessing of geophysical data of the 8-Mile target that is located at the southern boundary of the Gidji JV project and abuts Northern Star Resources’ 8 Mile Dam gold deposit.

The company has interpreted the reprocessed data to demonstrate a well-defined gravity and Induced Polarisation (IP) anomaly north of the 8 Mile Dam Resource, which appears to have been offset by a SW-NE trending fault and underlies numerous aircore end of hole (EOH) results.

Miramar believes the combination of the multiple coincident datasets increases the potential for an extension to the 8 Mile Dam deposit within the Gidji JV project.

“We have multiple high-grade end of hole aircore gold results overlying an IP and gravity anomaly which looks very similar to the 8 Mile Dam gold deposit immediately south of our tenement boundary,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“The geophysical data suggests that the deposit may extend into our ground but has been offset approximately 400 metres to the northeast by a fault.

“The 8-Mile offset target is within reach of RC drilling and, unlike the targets further north, there is no paleochannel covering the basement geology.”

Miramar is reviewing options for testing the offset 8-Mile target including aircore drilling and/or RC drilling.




Torque Metals to Acquire WA Gold and Lithium Tenements

THE BOURSE WHISPERER: Torque Metals (ASX: TOR) is to acquire 100 per cent of an extensive and strategic package of tenements with gold and lithium potential in the Goldfields region Western Australia.

Torque Metals declared the option agreements to be consistent with the company’s stated strategy to consolidate further highly prospective ground in the vicinity of its Penzance Exploration Camp, which contains the New Dawn lithium and Paris gold discoveries.

The company explained that part of the tenement package is located west of Horse Rocks where Lord Resources has a binding farm-in agreement with Mineral Resources and has identified multiple stacked pegmatite swarms, displaying extensive fractionation.

These tenements have been interpreted to share similar geological characteristics and structural setting to the Kangaroo Hills and Mt Marion lithium projects, being dominantly on greenstone belts with an adjacent intrusion.

Tenements in the Spargoville region are considered by Torque to have potential for gold and lithium mineralisation, sharing tenement boundaries with Kali Metals and Marquee Resources.

Torque has also applied for further tenements, which subject to grant to Torque, is expected to allow Torque to expand its New Dawn lithium project to areas where Arcadium Lithium and Mineral Resources are major tenement holders.

“Torque is pleased to announce the options, which pave the way for a significant expansion of its presence in the WA Goldfields through the acquisition of multiple titles with gold and lithium potential, which upon transfer to Torque will increase Torque’s project aggregation to approximately 1200 square kilometres, thereby establishing it as a major high-quality tenement holder in the region,” Torque Metals managing director Cristian Moreno said in the company’s ASX announcement.




Killi Resources Inks JV with Gold Fields on West Tanami Project

THE BOURSE WHISPERER: Killi Resources (ASX: KLI) announced the execution of an Option and Joint Venture Agreement with Gold Fields for the company’s West Tanami project in the Kimberley region of Western Australia.

Killi Resources reached the deal with Gold Fields via an indirect wholly owned subsidiary of that company, under which $13 million will be spent to earn an 85 per cent interest in the West Tanami project.

“We are thrilled to have a partner in Gold Fields at the West Tanami project,” Killi Resources chief executive officer Kathryn Cutler said in the company’s ASX announcement.

“This partnership allows access to expertise and funding for the longer-term and will ensure the project continues its progress in pursuit of a new orogenic gold system in the Tanami.

“Importantly, this $15 million valuation of the West Tanami project, represents just one of Killi’s three 100 per cent-owned belt-scale copper-gold assets.

“Whilst the JV enables systematic exploration to continue in the Tanami, it also enables Killi to focus exploration at the Mt Rawdon West project where the company will continue to explore in 2024 for a new copper-gold system near Bundaberg.”

Killi Resources’ project portfolio also holds two wholly-owned projects in Queensland, based near Townsville in the Charters Towers region and Bundaberg in the Mt Rawdon district, where the company is focused on finding a new gold and/or copper deposit.

The two projects are belt-scale land holdings, located in well-endowed mineral provinces, that are significantly underexplored and amenable to a new large-scale discovery.