Charger Metals Commences Drilling at Coates Project

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THE DRILL SERGEANT: Charger Metals (ASX: CHR) reported it has diamond drilling underway to test geochemistry and geophysical targets, which it believes may represent nickel, copper and PGE mineralisation at the Coates nickel-copper-cobalt-gold-PGE project outside Perth in Western Australia.

Charger metals keenness to get out drilling the Coates project has everything to do with the project containing a mafic intrusive complex within the Jimperding Metamorphic Belt, which also hosts the Julimar – Gonneville nickel-copper-PGE project owned by Chalice Mining (ASX: CHN) that sits practically next door.

The company has commenced drilling of five diamond drill holes designed to test the upper levels of a T1 geophysical target and extensions highlighted by recently conducted regolith geochemistry testing.

“We are very pleased to get the company’s maiden drilling campaign underway at the Coates project which will test a compelling nickel-copper-PGE target,” Charger Metals managing director David Crook said in the company’s ASX announcement.

“When we combine the interpretation provided by our geophysical consultant of the completed fixed-loop electromagnetic survey with our existing geochemical data, we have produced an outstanding drill target in the emerging Western Yilgarn PGE and nickel province.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@chargermetals.com.au

 

Web: www.chargermetals.com.au

 

Talking to the Taxman About Exploration

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COMMODITY CAPERS: It’s that time of year again when we ask the taxman to reimburse us for all the expenses we have incurred throughout the year as we carry out our respective businesses.

The junior exploration sector is no different to any other and is fortunate to have in place the Junior Minerals Exploration Incentive (JMEI).

A visit to the Australian Tax Office web page informs us that the JMEI encourages investment in small minerals exploration companies that carry out greenfields mineral exploration in Australia.

“Eligible exploration companies can generate tax credits by choosing to give up a portion of their losses from greenfields mineral exploration expenditure,” the ATO explains.

“These tax credits can then be distributed to investors who purchase newly issued shares in that eligible entity during a certain period.

“Australian resident shareholders issued with an exploration credit are entitled to a refundable tax offset or, if the shareholder is a corporate tax entity, additional franking credits.

“The exploration company’s carry forward losses will be reduced proportionately to reflect the amount of exploration credits issued to its shareholders.”

To participate, companies are required to lodge their interest by a due date, after which the ATO allocates each eligible entity an exploration credit allocation on a first come, first serve basis until the annual exploration credit cap for each income year is exhausted.

The JMEI came into being from the 2017–18 income year, with exploration credits capped over a four-year period as follows:

$15 million in the 2017–18 income year;
$25 million in the 2018–19 income year;
$30 million in the 2019–20 income year; and
$35 million in the 2020–21 income year.

In 2021, the Australian Government announced the availability of a further $100 million over four years to extend the JMEI to the end of June 2025.

The extension of the JMEI applies from the 2021–22 income year, with exploration credits capped over a further four-year period as follows:

$25 million in the 2021–22 income year;
$25 million in the 2022–23 income year;
$25 million in the 2023–24 income year; and
$25 million in the 2024–25 income year.

This year’s winners include:

Global Lithium Resources Encounters Manna Lithium Pegmatites

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THE DRILL SERGEANT: Global Lithium Resources (ASX: GL1) reported new results from a drilling program underway at the company’s Manna lithium project, located 100km east of Kalgoorlie in Western Australia.

A current diamond drilling program is following recent RC drilling, which from a single hole drilled within the known Resource, returned multiple wide LCT pegmatite intercepts of greater than 10m, which the company claims to further confirm the potential of the Manna lithium deposit.

Global Lithium said the diamond drilling campaign is showing the Manna Lithium bearing pegmatites extend up to 150m down dip past the current resource outline, adding that even deeper diamond drilling is planned to test the extent of the known deposit at depth.

“It’s very encouraging to see these great results at such an early stage of the drilling program and they further cement the company’s decision to acquire an 80 per cent interest in the Manna lithium project,” Global Lithium Resources head of geology Stuart Peterson said in the company’s ASX announcement.

“Further deeper diamond drilling will allow the Lithium bearing pegmatites to be targeted to a depth that has never been reached before at Manna, and potentially add critical mass to the size of the deposit which is due to be updated later this year.”

The Manna lithium project hosts a maiden Inferred Mineral Resource of 9.9 million tonnes at 1.14 per cent lithium oxide (Li2O).

Global lithium anticipates a Mineral Resource update to follow the drilling program along with additional metallurgical test work in Q4 2022.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@globallithium.com.au

 

Web: www.globallithium.com.au

 

New World Resources Identifies New Antler Targets

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THE DRILL SERGEANT: New World Resources (ASX: NWC) recently completed a surface geochemistry sampling program along strike from the company’s 100 per cent-owned Antler copper deposit in northern Arizona, USA.

The soil sampling program covered along-strike extensions of the geological sequence that hosts the Antler deposit with approximately 390 samples collected.

Three very-high priority anomalies have been delineated from the sampling the first being a strong soil anomalism directly over, and to the south of, the Antler deposit, another named the Antler Offset soil anomaly and a third called the Copper Knob soil anomaly.

Several additional anomalies of interest have also been delineated, over several of which, and those mentioned above the company has carried out initial field reconnaissance.

Further field checking, mapping and sampling will be undertaken at all of these targets over the coming months.

“Geologically, where there is one VMS deposit – such as Antler – there are often two, and sometimes more, all in close proximity to each other,” New World Resources managing director and CEO Mike Haynes said in the company’s ASX announcement.

“In light of this, we are very excited to have received very encouraging results from first-pass soil geochemistry sampling that covered more than six kilometres of the strike extensions of the geological sequence that hosts the Antler deposit.

“The Scoping Study we completed recently clearly demonstrated that considerable value could be generated by discovering and mining additional mineralisation and processing it through the stand-alone facility that we are targeting building.

“Extending the operation’s life and/or increasing production rates could therefore make the project’s economics look even more attractive.

“So, to be delineating new, high-quality exploration targets, from our very first phase of exploration work along strike from the Antler deposit, is very encouraging.

“We have engaged a geophysical contractor to conduct IP surveying over these targets as soon as possible, in advance of initial drill-testing, which we plan to undertake later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@newworldres.com

 

Web: www.newworldres.com

 

Metal Hawk and IGO get Diamond Drilling Underway at Kanowna East

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THE DRILL SERGEANT: Metal Hawk (ASX: MHK) announced commencement of diamond drilling at the company’s Kanowna East project, located approximately 10km south of the Black Swan/Silver Swan nickel mine in the West Australian goldfields.

It appears IGO Limited (ASX: IGO) is keeping itself busy with the juniors as it is Joint Venture partner in the project and will be acting as manager of the drilling.

The program is to consist of several diamond drillholes designed to further explore the interpreted southern extension of the ultramafic corridor hosting the high-grade Silver Swan nickel sulphide deposit.

IGO recently achieved the Stage-1 joint venture milestone, acquiring a 51 per cent JV interest in Metal Hawk’s Kanowna East, Emu Lake and Fraser South projects.

IGO has elected to continue sole funding exploration and can earn an additional 24 per cent interest by spending a further $4 million on the JV projects.

Metal Hawk is free carried to decision to mine and retains 100 per cent of the gold rights at Kanowna East and Emu Lake.

“It’s great to see exploration drilling continue at Kanowna East under the management of our new JV partner, IGO Limited,” Metal Hawk managing director Will Belbin said in the company’s ASX announcement.

“The presence of widespread visible nickel sulphides in the first diamond hole drilled at Kanowna earlier this year was highly encouraging, and we look forward to seeing the results of this next phase of drilling.”

 

 

 

Email: admin@metalhawk.com.au

 

Web: www.metalhawk.com.au

 

Encounter Resources Announces IGO Diamond Drilling at Yeneena

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) informed the market this morning that its Joint Venture partner IOG (ASX: IGO) has commenced diamond drilling at the Yeneena copper-cobalt project in the Paterson Province of Western Australia.

Exploration at Yeneena is operated and funded by IGO under a $15 million exploration earn-in agreement.

Encounter Resources explained that exploration at Yeneena is focused on discovering high-value sediment-hosted copper deposits.

The strategy implemented by IGO involves the collection of primary datasets, with techniques used to acquire geological, geochemical and geophysical data.

Recently, 2021 aircore drilling assays were incorporated into a regional 3D model, which has been created through the integration of historical and modern datasets.

Regional target areas have been identified from the model, defining sub-basins the JV believes could contain similar rocks to those found at Nifty copper mine.

Diamond drill testing of these targets will be completed during the 2022 field season.

“We are pleased to be partnering with IGO towards unlocking the considerable copper potential of the Paterson Province of WA, demonstrated by the recent discoveries in the region at Winu and Havieron,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“The planned 2022 activities represent a significant program of high impact drilling targeting sediment hosted copper.

“A number of new and innovative exploration techniques have been applied to generate these high priority drill targets.

“The planned six-hole program of deep diamond drilling by IGO is a substantial investment in copper exploration at Yeneena.

“This drilling, coupled with the upcoming diamond drilling at our 100 per cent-owned Lamil prospect in the Paterson Province and by BHP at the Elliott copper project in the Northern Territory, means that the second half of 2022 is shaping as one of the most eventful drilling periods in Encounter’s history.”

 

 

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au

 

Small-Cap Companies to Contribute at Diggers & Dealers (part 2)

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THE CONFERENCE CALLER: The Roadhouse continues its look at the smaller explorers presenting at the upcoming Diggers & Dealers Forum in Kalgoorlie.

This week we look at some of these smaller explorers whose share prices currently sit over 10 cents and under 20 cents per share (at time of writing).

 

Peel Mining (ASX: PEX) 16.5 cents

 

 

Peel Mining has been busy interpreting results generated by drilling at the Mallee Bull and Wirlong deposits at the company’s South Cobar copper project in New South Wales.

Results from a 2021/22 resource drilling program at Mallee Bull highlighted the deposit’s quality and continuity of mineralisation throughout the infill program.

At Wirlong, results also confirmed quality and continuity of the deposit with high-grade copper intervals intersected throughout the Wirlong mineral system.

Wirlong is developing into an important part of Peel’s South Cobar Copper strategy alongside Mallee Bull.

The company anticipates the results from Wirlong, along with the results from Mallee Bull, to have a positive impact on the South Cobar copper Resource upgrade planned for mid CY2022.

 

 

 

 

 

 

 

 

 

Nickelsearch (ASX: NIS) 11.5 cents

Earlier this year, NickelSearch conducted an integrated and systematic nickel sulphide targeting study that identified and prioritised over 30 greenfield exploration targets across the company’s wholly-owned Carlingup nickel project, located in Ravensthorpe, Western Australia.

The study produced 11 Priority 1 targets and defined a highly prospective mineralised corridor at Carlingup South over a strike extent of nine kilometres, with three drill-ready targets, subject to receiving necessary approvals and conducive ground conditions.

This targeting work was enhanced by ultra fine soil assay results along the Carlingup South trend that returned highly anomalous Kambalda and Platinum Group Metals (PGM) responses, which Nickelsearch considers being indicative of komatiitic nickel sulphides at depth.

NickelSearch is embarking on a modern, rigorous, and comprehensive exploration program across its entire tenement package.

This is the first time this land package has been consolidated under one company.

 

Panoramic Resources (ASX: PAN) 18.75 cents

Ignore Panoramic Resources at your peril with the company recently advising that commercial production has been achieved at its Savannah nickel project in Western Australia.

The company commenced commercial production at Savannah from 1 April 2022 following the first production of concentrate in October 2021.

Panoramic signalled the ramp-up of underground mining will continue throughout FY23 as development of additional levels opens new areas for production, from Savannah North.

Annual production from Savannah is forecast to increase in FY23 with guidance of:

6,600 – 7,100 tonnes of nickel in concentrate;
4,100 – 4,500 tonnes of copper in concentrate; and
400 – 500 tonnes of cobalt in concentrate.

FY23 production guidance for nickel in concentrate reflects a blended production of ore from Savannah (remnants) and Savannah North (new mine).

Savannah North provides approximately 62 per cent of the ore feed, with Savannah providing the balance.

 

Galena Mining (ASX: G1A) 13.5 cents

Galena Mining’s 60 per cent-owned Abra base metals mine is a lead-silver project located in the Gascoyne region of Western Australia.

At latest report, construction of the Abra project is currently 75 per cent complete with Galena confirming first concentrate production on-target for Q1 2023.

The project’s CY2023 mill throughput is expected to be 0.8-1 million tonnes per annum resulting in ramp-up year lead production of 53,000-68,000 tonnes.

Following ramp-up, the life of mine average annual production is expected to average 93,000 tonnes of lead and 553,000 ounces of silver, with lead C1 direct cash costs of US$0.50 per pound.

 

Pantoro (ASX: PNR) 18.5 cents

Pantoro has a couple of major feathers in its operations cap at present, the first being its 50 per cent-owned Norseman project where construction continues apace.

The project has a substantial Ore Reserve of 900,000 ounces that increased 48 per cent since release of a Phase One DFS in October 2020.

Pantoro completed a $45 million capital placement earlier this year to accelerate mining at Norseman and maintain growth exploration activities at high rates while also supporting advancement of the Lamboo PGE project within the company’s second feather, the 100 per cent-owned Halls Creek project.

Recent step out drilling at the Lamboo nickel-PGE prospect returned strong PGE, nickel and cobalt assays.

An added extra was the inclusion of coincident rhodium and iridium grades returned in the northern extensions of the platinum-palladium-gold zones the company has drilled to date.

 

 

 

 

Jonathan King Summit Minerals July 2022

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Summit Minerals is waiting for the green light to from the ASX to complete its listing. The company has a portfolio spread across the country including lithium and REE projects in Western Australia and an antimony project in New South Wales. Company director Jono King zoomed into The Resources Roadhouse to give Wally Graham a short, but insightful lesson on antimony and its emergence as a critical battery metal.

Codrus Minerals Drills Widespread Gold at Red Gate Gold Project

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THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) received assay results from the Phase 2 Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Red Gate gold project in Western Australia.

Codrus Minerals said the results had confirmed the potential for a large-scale gold mineralised system.

The company explained the recent phase of wide-spaced drilling was designed to further unlock the geological potential of the Red Gate project as the company works to define the overall scale and potential of the mineralised system that has been identified to date.

Assay results from the second drill program include:

Porphyry West

RGRC029
10m at 1.19 grams per tonne gold from 52m down-hole, including 1m at 5.51g/t gold from 58m
10m at 1.4g/t gold from 66m down-hole; and

RGRC030
1m at 2.01g/t gold from 133m down-hole
4m at 1.08g/t gold from 149m down-hole.

Porphyry North

RGRC035
14m at 1.06g/t gold from 18m down-hole, including 2m at 3.97g/t gold from 18m
1m at 9.24g/t gold from 37m down-hole; and

RGRC039
1m at 2.83g/t gold from 41m down-hole.

“Our second phase of RC drilling at Red Gate has delivered very encouraging results over a significant area,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“The purpose of the program was to scope out the broader potential of the mineralised system and improve our understanding of the geological context and structural controls on the mineralisation.

“It has been very successful on both counts.

“Seeing grades of up to nine grams per tonne as well as several broader, lower grade zones, distributed over an extensive area, is a promising result which confirms the significant gold endowment of this under-explored project.

“Most of the individual zones of mineralisation encountered remain open along strike and down-plunge.

“This highlights the significant opportunity to define resources with further drilling.

“Given the strategic location of this project in the heart of an active gold mining district, Red Gate is a valuable and important asset for Codrus.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

Web: www.codrusminerals.com.au

 

 

Estrella Resources Extends T5 Mineralisation at Carr Boyd

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THE DRILL SERGEANT: Estrella Resources (ASX: ESR) reported recent drilling at the company’s 100 per cent-owned Carr Boyd nickel-copper sulphide project outside Kalgoorlie-Boulder has located the continuation of the T5 deposit at depth below the Carr Boyd nickel mine area.

Estrella Resources explained that hole CBDD078A was targeting the down-plunge continuation of the T5 deposit 300 metres south of previous drilling, and south of a disrupting Proterozoic Dyke.

The hole intersected a 21.2-metre-long zone of disseminated to blebby nickel-copper sulphide mineralisation, including 1.8m of semi-massive and globular nickel-copper sulphides at the bottom of the interval on the basal contact.

“Drilling at T5 has again provided our team success with a significant step out hole south of the late-stage Proterozoic Dyke, encountering significant nickel and copper sulphides,” Estrella Resources managing director Chris Daws said in the company’s ASX announcement.

“DHEM will be a significant advantage as we follow the extent of the T5 Deposit.

“We continue to actively explore the Carr Boyd basal contact as we know that is the most likely place to find significant accumulations of nickel and copper sulphides.

“It has yielded two solid discoveries so far at T5 and Broonhill.

“At Gossan Hill, we are kicking off our first diamond drilling program this week and I’m looking forward to seeing the results and updating shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@estrellaresources.com.au

Web: www.estrellaresources.com.au