Miramar Resources (ASX: M2R) keeps drilling promising results at the company’s 80 per cent-owned Gidji Joint Venture in Western Australia. Despite the long delay for assays, executive chairman Allan Kelly told Wally Graham of The Resources Roadhouse the results make the wait worthwhile.
THE DRILL SERGEANT: Miramar Resources (ASX: M2R) reported high-grade gold results from drilling completed in 2021 at the company’s 80 per cent-owned Gidji JV project in the Eastern Goldfields of Western Australia.
The drilling returned gold results from the Marylebone target that include four consecutive 50 metres-spaced holes across the centre of the eastern Marylebone trend:
GJAC490
2 metres at 5.28 grams per tonne gold (52-54m);
GJAC491
1m at 8.55g/t gold (55-56m);
GJAC492
1m at 11g/t gold (55-56m); and
GJAC493
12m at 0.3g/t gold (48-60m EOH), including 1m at 1.21g/t gold.
Miramar explained the new high-grade results are located between two earlier 200m-spaced lines with single holes that returned intersections of 1m at 3.62g/t gold and 1m at 2.65g/t gold.
The company maintains its belief in Gidji having potential for the discovery of multiple new gold deposits within its strategic 60 square kilometre land package located 15km north of Kalgoorlie.
“Gidji is in a fantastic location, with the right geology and structures, and a growing supergene gold footprint that indicates the potential for a significant bedrock gold source nearby,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.
“Each aircore program we have completed at Gidji since listing has improved on the previous results and provided a better understanding of the project, and this program is no exception with multiple new high-grade gold results from Marylebone and our new Blackfriars target.
“The Gidji project provides Miramar with a unique greenfields gold discovery opportunity right on the doorstep of the richest patch of ground on earth, and we therefore look forward to continuing to uncover the huge potential opportunity at Gidji with systematic and methodical exploration.”
Miramar has commenced an aircore drilling program to infill the Blackfriars target to a drill spacing of 200m x 50m and test the Highway target for the first time.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@miramarresources.com.au
Web: www.miramarresources.com.au
THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) is gearing up for more activity on the company’s Side Well gold project in Western Australia.
Great Boulder Resources is recommencing RC drilling at the Mulga Bill target as part of a 5,000 metres program designed to test extensions to high-grade zones along the six kilometres Mulga Bill – Loaded Dog corridor.
Further activity will see the company undertake its first round of RC holes to test primary gold mineralisation over the defined 500m of strike at the Ironbark prospect located 1.5km east of Mulga Bill.
The program is expected to take approximately four weeks to complete, during this time a 3D IP survey will also be completed and processed.
“Our Mulga Bill exploration program is continuing at full speed with the commencement of our first RC drill program for 2022,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.
“We are well advanced and funded to execute our plans to accelerate drilling later this quarter as we move towards an Exploration Target followed by an initial Mineral Resource Estimate at Side Well.
“The additional structural data from the diamond drilling program plus the RC data we gain from this program will be the next step in building our understanding of Mulga Bill.
“The team is looking forward to seeing the full 3D inversion model of chargeability anomalies associated with sulphide once the IP survey is complete, as it will provide our first three-dimensional model of sulphide zones that will be subject to further drilling.”
Email: admin@greatboulder.com.au
THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has kicked off a new round of Reverse Circulation (RC) drilling at the company’s 100 per cent-owned Karonie gold project near Kalgoorlie in Western Australia.
Alchemy Resources indicated the drill program will include holes at targets at Gilmore, which it had identified from high-resolution magnetics and detailed mapping completed in 2021.
The program is EIS co-funded by the WA Department of Mines, Industry Regulation and Safety (DMIRS).
Other drilling at Karonie East will entail infill drilling both along strike, and at depth, of the previously encountered aircore intercepts.
A further single RC hole at the KZ5 target will test a historic untested electro-magnetic (EM) plate located along strike of the existing resource.
“We are excited to be back out at Karonie drill testing our priority targets at Gilmore where there has been no RC follow-up of mineralised intercepts since 2002,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.
“At Karonie East we are testing mineralisation at depth, following up on the success of our recent aircore program.
“At KZ5 an untested EM plate lines up with our revised interpretation of mineralisation, which could add further strike length to the resource.
“Overall, our activities are proceeding in line with our 2022 objectives, testing existing walk-up and advanced stage targets at Karonie.”
Email: admin@alchemyresources.com.au
Web: www.alchemyresources.com.au
Coda Minerals (ASX: COD) recently underscored its understanding of the company’s Elizabeth Creek copper project in the Olympic Copper Province in South Australia.
Coda is the operator and majority owner of the Elizabeth Creek project, holding a 70 per cent interest alongside Torrens Mining, which holds a 30 per cent interest.
Coda and Torrens have struck a Bid Implementation Deed for the companies to merge via a recommended takeover offer, consolidating 100 per cent ownership of the Elizabeth Creek project.
Recent diamond drilling continued to demonstrate the substantial metal endowment of the broader Emmie System, which comprises both the shallower Emmie Bluff copper-cobalt deposit and the adjacent Emmie IOCG (copper-gold) at depth.
Two recent drill-holes combined with comprehensive re-logging of drill core by an IOCG expert, changing the company’s ideas about what the project may hold.
The first hole, EBD7, seemed to cut off a bornite zone on the far western edge of the anomaly while the second returned a copper-rich bornite dominated intercept from a location the company was not expecting to find one.
Combining results with detailed re-logging of previous holes, Coda interpreted outcomes to suggest multiple copper-bearing conduits could exists within the Emmie IOCG mineralised system.
“Simply put, we thought we were chasing a single area of mineralisation, but we now believe that there may be multiple zones of bornite,” Coda Minerals CEO Chris Stevens said.
“What we don’t yet know is how many there are, and whether or not some are much thicker than what we have found to date.”
The bornite encountered by the second of the holes mentioned provides new targets along with already established information leading the company’s suspicions Emmie IOCG displays hallmarks of an accumulation of copper and other valuable metals at least comparable in scale to the Emmie Bluff copper-cobalt deposit above it, and potentially much larger.
“Having both types of potentially economic copper mineralisation within the same overall mineralised system is unique, probably in the world,” Stevens said.
“With approximately 800,000 tonnes of contained copper equivalent already defined in Indicated Resources at Emmie Bluff, the IOCG beneath has also begun to demonstrate significant scale.”
Coda signalled its next move will be to focus on drill testing to evaluate and extend the new bornite zone encountered in EBD7 and re-evaluate historical drill hole SAE4, which encountered 16m at 0.64 per cent copper and 0.2g/t gold from 860m and 36m at 0.71 per cent copper and 0.2g/t gold from 884m.
Apart from this work, the company has taken very early steps to assess the economic potential of the Emmie IOCG deposit with the intention to integrate the Emmie IOCG deposit into the ongoing Elizabeth Creek scoping study.
“Based on what we already know, we have reached a point of confidence that Emmie IOCG represents a significant accumulation of copper and other valuable metals at least comparable in scale to the Emmie Bluff copper-cobalt deposit above it, and potentially much larger,” Stevens said.
“This opens up the very real option to evaluate the potential of a fully integrated development of these two deposits as part of a much larger mining operation.”
Email: info@codaminerals.com
Web: www.codaminerals.com
Directors: Keith Jones, Chris Stevens, Colin Moorhead, Robin Marshall, Paul Hallam
COMMODITY CAPERS: Breaker Resources (ASX: BRB) is focused on its expanding Lake Roe gold project in a greenfields district, 100 kilometres east of Western Australia’s gold mining hub of Kalgoorlie.
In December 2021, Breaker announced a 23 per cent increase in the Lake Roe Mineral Resource that increased global Resources for the project by 314,000 ounces to 1.68 million ounces.
This came on the heels of a 40 per cent increase in April 2021.
The company declared the robust mining potential is apparent at the Bombora deposit when typical standalone cut-off grades are applied:
Open Pit Resource
11.2 million tonnes at 1.9 grams per tonne gold for 688,000 ounces (0.8g/t cut-off above 100mRL); and
Underground Resource
4.4Mt at 3.6g/t gold for 501,000 ounces (1.8g/t cut-off below 100mRL).
Breaker is confident the new Resource provides a solid foundation for a long-term mining project with attractive margins, especially given current gold prices.
The high-grade growth potential immediately below the open pit Resource is wide open, from where several areas are opening with a grade and continuity suitable for underground mining.
“We are looking forward to start the transition from discovery into mine development studies over the ensuing year,” Breaker Resources managing director Tom Sanders said.
“Accordingly, we plan to ramp up our drilling to firm up the best areas for development, while expanding the Resource in other areas at the same time.”
Breaker Resources expects to start the transition from discovery into mine development studies throughout 2022.
In accordance with these aspirations, the company has signalled ramping up its drilling timetable to firm up the best areas for development, while expanding the Resource in other areas at the same time.
Breaker’s decision to divest 80 per cent of the Manna lithium rights at Lake Roe to ASX-listed Global Lithium Resources late last year, in a deal worth up to $33 million, to maintain its core focus on gold has turned out to be an astute move.
Global Lithium paid Breaker $13 million upfront comprising $6.5 million in cash and $6.5 million in Global Lithium shares to secure the deal.
Looking ahead, Global Lithium will pay Breaker a further $10 million on definition of a Mineral Resource containing more than 250,000 tonnes of contained Li2O.
Keep the crystal ball on, because Global Lithium will pay Breaker a further $10 million upon production of 100,000 tonnes of contained Li2O.
The new owners are already rapidly advancing the project with Global Lithium Resources recently announcing a maiden Inferred JORC Mineral Resource estimate for the Manna lithium project of 9.9 million tonnes at 1.14 per cent lithium oxide and 49ppm tantalum pentoxide.
Manna was discovered by Breaker Resources by way of initial drilling of the deposit in 2018.
Email: breaker@breakerresources.com.au
Web: www.breakerresources.com.au
Directors: Peter Cook, Tom Sanders, Mark Edwards, Mike Kitney, Linton Putland, Eric Vincent
THE DRILL SERGEANT: Rincon Resources (ASX: RCR) is back out drilling at the company’s South Telfer copper-gold project in the Paterson Province of Western Australia.
A diamond rig has arrived to join an RC rig already on site for a Phase 2 extensional RC and DD drilling program at the Hasties rospect to follow drilling that completed seven RC holes in December 2021.
Rincon explained the diamond drilling will include completion of an EIS Hole, designed to test the Hasties Deeps target area approximately 300 metres below surface and at least 150m below the deepest mineralisation drilled at Hasties Main Zone to date.
The RC drilling will target the depth extension of a fault, interpreted be the fluid conduit and controlling structure for copper-gold mineralisation at Hasties Main Zone.
“We are pleased to re-commence drilling at Hasties following several delays due to cyclonic weather preventing access to site,” Rincon Resources managing director Gary Harvey said in the company’s ASX announcement.
“We welcome the arrival of the diamond rig to complete the EIS-hole to test the ‘Hasties Deeps’ target.
“While still early in the game, this is nonetheless an important phase of drilling at Hasties where we hope to gain valuable information regarding the potential scale of the mineralised system.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@rinconresources.com.au
Web: www.rinconresources.com.au
THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has its latest drilling campaign underway at the company’s 100 per cent-owned Hombre Muerto West lithium project (HMW) located on the Western Basin of the Hombre Muerto salar in Catamarca Province, Argentina.
The first diamond drillhole of the program, PP-02-22, was completed at Pata Pila to a final depth of 450m.
The hole was designed to extend the company’s knowledge in the Pata Pila licence area to enable it to build-out the hydrogeological models required to confirm Reserve estimates at the HMW project.
The drillhole was designed to provide key geological data for testing extension to the existing HMW project Mineral Resource, in both horizontal and vertical dimensions, from the salar limits.
Galan Lithium declared the results from PP-02-22 delivered substantial confirmation of, and further potential upside to, the existing Mineral Resource estimate at the HMW project.
These results are set to be incorporated into an updated Mineral Resource estimate for the HMW project, which is on track for completion during Q3 CY2022.
“This exploration diamond hole has further unlocked the potential of the world-class lithium brine resource held at the HMW project,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.
“The results have enhanced our hydrogeological modelling, a key to confirmation of Reserve estimates, and delivered further Mineral Resource upside at HMW.
“Following the new exploration target areas identified by the recent TEM geophysical survey, we now look forward to aggressively drilling these additional potential HMW Mineral Resource expansion zones from this quarter through the rest of 2022.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@galanlithium.com.au
THE DRILL SERGEANT: Charger Metals (ASX: CHR) outlined the upcoming drilling schedule for the company’s 70-85 per cent held Coates nickel-copper-cobalt-gold-PGE project outside Perth in Western Australia.
Charger Metals had a Fixed-loop time domain electromagnetic survey (FLTEM) completed over the northern part of the T1 Target within the Coates project that had originally been detected via a SKYTEM survey undertaken in 2021.
Two conductors, C01 and C02 identified in the FLTEM survey are considered by the company as priority targets for massive sulphide mineralisation that could be related to nickel, copper, or possibly VMS-related mineralisation, associated with the Coates Mafic Intrusive Complex.
The SKYTEM survey included an area with previously defined nickel-copper and platinum group element geochemical anomalies.
Within Charger’s tenements, a total of 98 anomalies were picked and ranked from data profiles, from which 20 priority targets were delineated.
Five diamond drill holes have been designed to test the upper levels of the C01 and C02 conductors.
“We are excited about the approaching drilling campaign 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, Southern Geoscience Consultants, of the recently completed Fixed-loop EM survey with our existing geochemical data, we have produced a drill target in the emerging PGE and nickel province that demands attention at a time of record nickel and palladium prices.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@chargermetals.com.au
THE BOURSE WHISPERER: Lithium Energy (ASX: LEL) has gained a second Environmental Impact Assessment (EIA) approval from the local Jujuy Provincial Government Mining Authority to undertake exploration works at the company’s Solaroz lithium brine project in Argentina.
The second approval will allow Lithium Energy to commence exploration works on the Mario Angel tenement, which is located at the western side of the Salar de Olaroz basin.
Mario Angel is approx. six kilometres west from the Allkem’s lithium brine production bore fields used for extraction of lithium brine from the Olaroz Salar for subsequent processing at Allkem’s Olaroz Lithium Processing Facility.
Mario Angel is the second of eight mineral tenements located in the Olaroz Salar held by Lithium Energy.
The company anticipates this second EIA approval will result in approvals for the remaining six tenements to be received shortly.
“The receipt of the second of the Government approvals to start exploration at Solaroz is another important milestone for Lithium Energy and a further positive endorsement by the Argentinian Government Authorities of the Solaroz lithium project,” Lithium Energy executive chairman William Johnson said in the company’s ASX announcement.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@lithiumenergy.com.au
