Intermin Resources Encounters New Teal Mineralisation

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) reported reverse circulation (RC) drilling results from the company’s 100 per cent-owned Teal gold project, located 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

Intermin Resources said the drilling had resulted in a new discovery and provided prospective Resource growth for the project.

A total of 182 RC holes were completed with the majority focussed on resource growth at Teal, Jacques Find, Peyes Farm and Yolande prospects.

New, fresh rock mineralisation was discovered 100m east of the Teal pit at Teal East where two holes returned encouraging results including:

9 metres at 3.33 grams per tonne gold from 60m; and

12m at 3.43g/t gold from 96m.

New, shallow gold mineralisation was discovered on the eastern edge of Teal pit with oxide and transitional results including:

14m at 3.02g/t gold from 41m; and

8m at 1.3g/t gold from 42m.

Depth and northern extension drilling at the Peyes prospect confirmed depth extensions with results including:

4m at 4.29g/t gold from 167m; and

2m at 1.69g/t gold from 194m, 2m at 5.15g/t gold from 204m and 3m at 1.73g/t gold from 217m.

Completed drilling at Jacques Find demonstrated potential for depth extensions (>200m depth) in the northern extension with results including:

10m at 1.28g/t gold from 150m, 6m at 8.7g/t gold from 177m, including 2m at 16.55g/t gold from 177m; and

10m at 2.12g/t gold from 139m.

“The large drilling program at the Teal gold camp has certainly delivered excellent results to date and identified four parallel mineralised structures across a six kilometre strike zone, demonstrating the potential scale of the system,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“We now look forward to the updated resource and moving forward on mining studies to continue creating value for shareholders in this fantastic part of the Western Australian goldfields.”





Bellevue Gold Releases Maiden Resource

THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) released a maiden JORC 2012 resource estimate for the company’s Bellevue gold project in Western Australia.

Bellevue Gold said the maiden resource estimate covers the project’s Western Corridor deposits including Southern Belle and, Tribune Lodes, and the Bellevue and Hamilton lode systems in the Bellevue Surrounds area.

All resources are reported at a 3.5 grams per tonne gold lower cut off, which the company considers acceptable based on approximate industry costings associated with the likely, narrow vein underground, mining method it intends implementing.

The maiden independent JORC Inferred Resource Estimate at the Bellevue gold project has come in at 1.9 million tonnes at 8.2g/t gold for 500,000 ounces.

The Resources sits from surface and remains open with 90 per cent sitting within the top 450 metres.

It sits adjacent to existing historical underground workings, which the company views as having scope for quick expansion.

Work to date has achieved gold recoveries up to 98.8 per cent.

The company highlighted that a recently announced high-grade gold discovery directly below the Bellevue underground workings is not included in this estimate.

This discovery returned drill results, including: 3.4m at 10.4g/t gold and 2.5m at 13.1g/t gold.

“We are very pleased to be able to report this sizable high-grade maiden independent gold resource estimate for the Bellevue Gold Project,” Bellevue Gold executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“We view this very much an interim resource, with significant scope to delineate further high-grade gold ounces from the current step-out drilling underway at both the Tribune Lode and new Bellevue extension discovery.

“With ongoing drilling over the next few months, we anticipate strong news flow and expect to upgrade the resource estimate later this year.”





Sheffield Resources Commences Regional Drilling at Thunderbird

THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) has commenced a major exploration drilling program at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Sheffield Resources said the aircore drilling program is targeting multiple prospects along a 160 kilometres long prospective horizon and is expected to take two months and generate assay results.

The campaign has commenced at the high priority Night Train prospect located 20km southeast of Sheffield’s Thunderbird project and within two kilometres of the proposed Thunderbird Access Road.

This company explained the drilling program forms part of an exploration strategy of targeting additional large, zircon rich deposits containing premium ceramic grade zircon suitable for downstream processing at the Thunderbird Dry Mineral Separation Plant.

“We are true believers in the Canning Basin as a significant new mineral sands province. We have a dominant ground position in a highly underexplored region with immense potential,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“We are looking for large zircon rich deposits to complement our Thunderbird Mineral Sands Project, one of the largest and highest-grade mineral sands discoveries in the last 30 years.

“We are planning an extensive drilling program, which could generate significant potential upside for investors.

“With clear long-term supply issues facing the industry and very few recent discoveries, Sheffield remains committed to aggressively growing its inventory of zircon rich Reserves and Resources.

“We will continue to actively pursue and evaluate new mineral sands opportunities in Australia and overseas, with a focus on large zircon rich deposits.”





Peel Mining Hits Strong Mallee Bull Infill Results

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported infill drilling results from the company’s 50 per cent-owned Mallee Bull deposit, located near Cobar in western New South Wales.

Peel Mining explained the drilling was undertaken as part of a Pre-Feasibility Study (PFS) investigating the conceptual development of the upper portion of Mallee Bull as a dig and truck operation, under which ore would be milled at JV partner CBH’s Endeavor mine located approximately 150 kilometres away, where surplus milling capacity exists.

The drilling consisted 16 drillholes and was designed to infill to a maximum of 30-metre spacing between drill intercepts in a zone of interest between 180m and 300m below surface, allowing for an update to the resource model (in this area) to an indicated mineral resource estimate.

The drilling also provided additional geotechnical information, and material for further metallurgical testwork.

Peel said its initial interpretation of drilling results indicates that the area of interest shows continuity of the Mallee Bull lode (stringer/breccia style) mineralisation.

Strong polymetallic mineralisation was intercepted in most drillholes with better assays including:

11m at 9.02 per cent copper, 114 grams per tonne silver, 0.37g/t gold from 296m;

14.15m at 4.27 per cent copper, 51g/t silver, 0.25g/t gold from 262m;

16m at 2.19 per cent copper, 49g/t silver, 0.38g/t gold from 237m including 9m at 2.69 per cent copper, 67g/t silver, 0.43g/t gold from 242m;

18m at 1.53 per cent copper, 24g/t silver, 0.38g/t gold from 234m including 4.86m at 3.53 per cent copper, 34g/t silver, 0.64g/t gold from 234.86m;

5m at 11.09 per cent zinc, 5.48 per cent lead, 32g/t silver, 0.14g/t gold from 305m;

13m at 1.76 per cent copper, 9g/t silver, 0.05g/t gold from 281m including 4m at 2.9 per cent copper, 12g/t silver, 0.06g/t gold from 288m;

Peel said the PFS is being based around underground mining of the high-grade Silver Ray zinc-lead-silver lens, followed by the development of an exploration decline to around 300m below surface to enable the underground drilling of the Mallee Bull lode copper mineralisation.

Mineralisation between 180m and 300m below surface is to be assessed for its potential to add further ore to the mineral inventory.

“Recently received assays are currently being interpreted and wireframed in anticipation of updating the relevant portion of the mineral resource model,” Pell Mining said in its ASX announcement.

“Once completed, the new mineral resource model will be the subject of mine design/scheduling to enable completion of the PFS which is expected during the current quarter.”





Saturn Metals Returns Encouraging Drill Results from Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported an encounter with further diamond drilling intersections at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals completed drilling that tested extensional positions on the main Apollo Hill deposit and the adjacent Ra deposit, which have a combined 0.505 million ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

Better results from the latest batch of diamond drilling assays include:

2.6 metres at 3.23g/t gold from 88.7m – (Ra Footwall Zone);

2.2m at 2.5g/t gold from 61.7m – (Ra); and

2.5m at 3.18g/t gold from 76.5m within 10.1m at 1.26g/t gold from 75.9m – (Apollo Hill South).

Saturn Metals said the intersections at Apollo South show similarities to the higher-grade dolerite hosted vein structures noted in the parallel and adjacent Ra deposit.

The drilling has also demonstrated the potential for more of this important style of mineralisation in the prospective dolerites.

Drilling remains open along strike and down plunge with the potential for multiple stacked lodes.

Results also delineated several other wider zones of lower grade gold mineralisation with intersections including:

21m at 0.44g/t gold from 117m; and

7.1m at 0.58g/t gold from 14m.

The company indicated that results will form part of an upcoming resource re-calculation with a revised resource statement anticipated for later in 2018.

“We are excited by the new geological development at Apollo South, and the potential to discover another zone of higher grade Ra style mineralisation,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“The opportunity remains open for additional testing.”





Ventnor Resources Acquires Muchea Silica Sand Project 100 per cent

THE BOURSE WHISPERER: Ventnor Resources (ASX: VRX) has entered into a new agreement with Australian Silica Pty Ltd to immediately acquire 100 per cent of the Muchea silica sand project in Western Australia.

Ventnor Resources explained the agreement is in lieu of an option arrangement it previously announced to ASX on 26 March 2018.

The Muchea project is a potentially high-grade, high tonnage silica sand project located near Muchea, 50 kilometres north of Perth and is strategically adjacent to Brand Highway and a rail connection to Kwinana port for bulk handling.

The company anticipates the Muchea project will complement the 350 square kilometres of tenements it already holds at the Arrowsmith silica sand project.

In addition, Ventnor has received firm commitments for a capital raising of $2.4 million from professional and sophisticated investors by the issue of 40 million shares at six cents each, including $207,000 (3.45 million shares) been committed by Ventnor directors, subject to shareholder approval.

“Under the new transaction structure, ASX has confirmed that the company is no longer required to re-comply with ASX’s admission requirements for the re-listing of the company and is working with ASX towards the lifting of its current suspension and the recommencement of trading in its shares on ASX as soon as possible,” Ventnor Resources said in its ASX announcement.





Middle Island Achieves Positive Stage II Ore Sorting Results

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) reported further positive results from Stage II ore sorting trials conducted on drill core from the Two Mile Hill tonalite deeps deposit at the company’s 100 per cent-owned Sandstone gold project in Wetsrn Australia.

The Two Mile Hill tonalite deeps deposit comprises a gold mineralised, tonalite (granite) plug or stock, which at surface measures some 250 metres in length, 80-90m width and extends to at least 700m depth.

The deposit is located four kilometres north of Middle Island’s 600,000 tonnes per annum Sandstone gold processing plant and comprises an Exploration Target of 24 million tonnes to 34 million tonnes at 1.1 grams per tonne to 1.4g/t gold (0.9 million to 1.5 million ounces of gold) situated between 140m and 700m vertical depth, below which it remains open.

“Ore sorting trials continue to demonstrate a significant enhancement in gold grade, along with a commensurate reduction in feed mass that improves the potential viability of underground mining at the Two Mile Hill tonalite deeps deposit,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Considerable newsflow associated with the Two Mile Hill deposit can be anticipated in the current quarter, including diamond drilling results, a Mineral Resource upgrade and an updated underground mining concept study.

“We look forward to keeping shareholders updated on progress with the substantial Two Mile Hill tonalite deeps deposit at the Sandstone gold project during the remainder of 2018.”





Pioneer Resources Confirms A-Grade Potassium over Sinclair Deposit

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) informed the market that recent drilling has identified a market-significant volume of potassium feldspar occurs above the company’s Sinclair Zone caesium deposit, at the company’s 100 per cent-held Pioneer dome project in Western Australia.

Pioneer Resources is currently towards opening the Sinclair Mine, an open pit to extract the Sinclair Zone caesium deposit which, subject to final approvals, is anticipated to commence during the current Quarter.

Pioneer established the economics of the Sinclair Mine on the sale of caesium only, however mining will also extract potassium feldspar, lithium minerals (petalite, lepidolite) and quartz.

Each mineral will be stockpiled separately, and separate commercial arrangements made for each.

Potassium feldspar is used in the manufacture of ceramics and glassware, especially in glazes for hardwearing tableware and floor tiles, and as a key component of advanced high-tolerance insulators and electro-ceramics.

It is an internationally traded mineral product with a nominal value US$50-100 per tonne (lump), depending on the point of sale, quality, consistency and end-use application.

Pioneer has set an Exploration Target at the Sinclair Pegmatite of between 500,000 tonnes and 750,000 tonnes of Potassium Feldspar (KFs), targeting A-Grade ceramic product specification with key element grade ranges.

“The observed geology and assay distributions indicate that there are likely to be several potassium feldspar products distinguishable by potassium (K), sodium (Na), aluminium (Al), alkali elements (Rb, Cs) and contaminant elements content,” Pioneer Resources said in its ASX announcement.

“Premium, A-Grade potassium feldspar (KFA) occurs as an upper zone within the Sinclair Pegmatite.

“Assays of KFA from diamond drill core consistently return very low levels of critical contaminant elements including: iron (Fe) niobium (Nb) and manganese (Mn).

“Test work has indicated however that if these contaminants are present in marginal KFA material, fine screening will result in an upgraded coarse product.”





Calidus Resources Expands Warrawoona Mineralisation

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) released results from drilling underway at the Copenhagen gold deposit, located in the Pilbara of Western Australia.

The Copenhagen satellite deposit lies approximately 10 kilometres to the West of the current Klondyke deposit at the company’s 712,000 ounce Warrawoona gold project.

Calidus is undertaking a large resource infill and extension program across the Warrawoona project with an aim to expand the current resource to underpin a pre-feasibility study in 2019.

Copenhagen diamond drilling returned intercepts of:

10 metres at 5.38 grams per tonne gold from 63m; and

1m at 7.91g/t gold from 121m.

Other drilling underway includes RC drilling at the Klondyke East extension where Calidus has encountered further ore grade mineralisation east of the current 654,000 ounce Mineral Resource defined during 2017.

Recent intercepts from the current round of drilling include:

12m at 2.15g/t gold from 0m;

4m at 6.08g/t gold from 99m;

12m at 1.73g/t gold from 24m;

8m at 1.92g/t gold from 0m;

1m at 13.36g/t gold from 91m;

6m at 1.58g/t gold from 166m; and

1m at 9.25g/t gold from 121m.

“The Resource definition drilling program at Copenhagen has significantly improved our understanding of the high-grade plunge orientation of this orebody,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This information will support our targeting for depth extensions with the second phase of drilling to commence at Copenhagen during the current quarter.

“We are also pleased with the confirmation of mineralisation commencing from surface further east of our Klondyke Resource and will continue to evaluate the potential for further extensions with our systematic program.

“The company is also testing the St George Shear Zone via initial scout drilling which has received no modern exploration.

“In parallel, further geological work has defined a continuous working of over one kilometre on surface that targeted a chert/quartz vein that on closer inspection shows excellent continuity at depth and represents a high priority target for additional high-grade resources.

“A program targeting this area will commence in the next two weeks with a second rig and will include a large portion of diamond drilling to enable a selective grade to be reported.”





Musgrave Minerals Continues Lake Austin North Gold Hits

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) continued its run of strong assay results from recently completed regional aircore/reverse circulation (RC) drilling at the company’s Cue project in Western Australia’s Murchison district.

Musgrave Minerals said the drilling being carried out at the Lake Austin North gold target returned new thick intervals of gold mineralisation in Archaean regolith.

The Lake Austin North target now comprises multiple parallel zones of anomalous gold mineralisation 200 to 300 metres apart, approximately three kilometres north of the Break of Day and Lena gold deposits.

The company said results from A Zone at Lake Austin North had confirmed potential for a large gold system.

Latest intercepts include:

26 metres at 1.11 grams per tonne gold from 120m, including 14m at 1.97g/t gold from 132m to end of hole.

The A Zone target is open in all directions and detailed gravity data has indicated the untested contact could extend for a further two kilometres strike.

Musgrave has identified a new gold zone (C Zone) a further 300m west of A Zone where drilling intersected:

30m at 0.56g/t gold from 66m, including 6m at 1.44g/t gold from 90m to end of hole.

Re-sampling of 6m composites at 1m intervals undertaken by Musgrave has confirmed previous thick intersections and highlight high-grade zones, including:

2m at 10.46g/t gold from 131m to end of hole;

2m at 7.83g/t gold from 139m;

9m at 2.72g/t gold from 131m; and

5m at 4.9g/t gold from 143m;

“This is another strong result and with the mineralisation open in multiple directions along the granodiorite contact, it indicates we have identified a significant gold system,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Many of the drill holes currently terminate in mineralisation so follow-up RC drilling will be focused on establishing the true thickness, tenor and extent of the gold mineralisation in unweathered rock to help define the scale of the system.

“Modelling of the recent gravity data also suggests the mineralised contact could extend for a significant strike extent under the salt lake in areas of no previous basement drilling, thus increasing the exploration upside.”

Musgrave indicated follow-up, deeper basement drilling is set to commence at Lake Austin North in early August.

The company anticipates further assays in the next two weeks from an additional eight RC holes where six-metre composites have been resampled at one-metre intervals.

Development studies are continuing at the Break of Day and Lena deposits to evaluate options to optimise cash flow.