Sipa Resources Expands North Paterson Landholding

THE BOURSE WHISPERER: Sipa Resources (ASX: SRI) expanded the company’s tenement package in the Paterson Province of Western Australia to 1,242 square kilometres with the addition of the Anketell North tenement ELA 45/5104.

Sipa Resources picked up the new ground after identifying a series of new exploration targets through the interpretation of data received from a recently completed ground gravity survey.

The recent gravity survey added approximately 2000 data points, taking the total number of data points to over 5000.

Sipa described this as being a compelling new dataset in what it considers to be relatively under-explored and prospective terrain.

The company claims the combination of the gravity data with magnetic data clearly identifies areas where granites intrude (gravity lows) and structural culminations or domes (shown in the magnetic data).

This has been interpreted to collectively demonstrate a similar style or geological setting to Telfer (>25Moz gold plus copper) and other mineralised systems in the Paterson Province.

“The substantial program of work completed in 2017 has confirmed that the Paterson North project is highly prospective and contains large, altered, veined sulphidic mineral systems which are spatially related to granite intrusions of the same age…as the gold systems of the Southern Paterson,” Sipa Resources said in its ASX announcement.

“The gravity survey indicates that this prospective stratigraphy extends further to the north-west and, as a result, a new tenement called Anketell North has been pegged to the North of the Anketell tenement.”



Musgrave Minerals Confirms New High Grade Gold Discovery

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is pleased to report assay results from the Louise prospect, the latest gold discovery at the company’s Cue project in Western Australia.

Musgrave Resources completed three reverse circulation (RC) holes at the Louise prospect, located 750 metres south of the Break of Day deposit, from which it observed mineralisation it considers to be similar in style and nature to that at Break of Day.

Assay results for the three drill holes showed two, 17MORC112 and 17MORC111, intersected the targeted structure and quartz lode at Louise demonstrating continuity over strike.

4 metres at 15.4 grams per tonne gold from 79m down hole, including 2m at 29.9g/t gold from 81m open to the north and down dip.

Musgrave also interpreted a northern plunge from the historical workings at surface through 17MORC112, which it compared to the plunge on the Velvet Lode at Break of Day.

The company believe the high-grade gold intersection at Louise demonstrates potential for the formation of multiple high-grade gold shoots along the Break of Day shear which extends for over 20km of strike with very limited basement drill testing.

“This is a great initial result at Louise and highlights the potential for new high-grade gold discoveries within the 20 kilometres of prospective strike of this under explored belt,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The mineralisation is within the southern continuation of the Break of Day shear and is wide open along strike and down dip.

“Louise is the second high-grade gold discovery for Musgrave within 18 months, which is a great achievement for the team.”







Intermin Resources Continues Golden Run

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

Intermin Resources completed five RC holes at the Jacques Find discovery to follow up encouraging RC drilling results announced in November that included:

26 metres at 7.81 grams per tonne gold from 48m and 16m at 5.33g/t gold from 86m.

The company explained four of the latest holes targeted oxide-transitional mineralisation zones and the fifth hole was completed as a re-entry of hole JFRC1701, which had been interpreted to have finished short of the target zone.

Results from the latest RC drilling include:

27m at 4.16g/t gold from 45m ;

1m at 9.53g/t and 10m at 2.59g/t gold from 71m ; and

2m at 3.38g/t gold from 31m.

“Jacques Find is shaping up as a significant new discovery within our 100 per cent-owned asset portfolio and will be the subject of a larger scale resource drill program in 2018,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“The latest results, particularly in the shallower supergene zone have demonstrated potential for both open cut and underground mining.

“Jacques Find is quickly joining Anthill and Blister Dam as a key part of Intermin’s longer term production profile.”



Middle Island Resources Announces Sandstone Target Resource

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) released an Exploration Target for the Two Mile Hill tonalite deeps deposit at the company’s Sandstone gold project in Western Australia.

Middle Island Resources released the target of 24 million tonnes at 1.1 grams per tonne gold to 1.4g/t gold, comprising between 0.9 million ounces and 1.5 million ounces estimated between 140 metres and 700m depth.

The company declared the potential quantity and grade of the Exploration Target to be conceptual in nature, as it has yet to complete sufficient exploration to estimate a Mineral Resource, adding that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The estimated Exploration Target includes results from diamond core hole MSDD156, which generated a gold intercept of 508.3m at 1.38g/t gold, including 160m at 2.31g/t gold.

Middle Island claimed the Exploration Target confirms the presence of a substantial mineralised system measuring approximately 250m in strike and up to 90m in width at surface, which is mineralised to at least 713m depth and remains open at depth.

Within the Exploration Target, broader, sub-horizontal zones of higher grade mineralisation have been intercepted and include 22m at 5.95g/t gold, 37m at 4.46g/t gold, 50m at 2.71g/t gold, 13m at 6.39g/t gold, and 11m at 6.89g/t gold.

“The new Exploration Target, along with encouraging results derived from recent metallurgical and mineralogical testwork, increases the potential for bulk underground mining beneath the proposed open-pit cutback on the Two Mile Hill tonalite deposit,” Middle Island Resources said in its ASX announcement.

“Formal resource updates for both the Two Mile Hill tonalite deeps and BIF deposits are being prepared by an independent consultant prior to completing the underground mining concept study.”






Intermin Resources Extends Baden Powell Mineralisation

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) announced results of reverse circulation (RC) undertaken on the company’s 100 per cent-owned Baden Powell gold project, located north of Kalgoorlie-Boulder in Western Australia.

Intermin Resources explained the drilling was designed to test for shallow strike extensions to previously identified mineralisation adjacent to an historic shallow open pit mine.

Intermin has conducted drilling at Baden Powell throughout 2017, comprising eight RC holes carried out in two parts.

The company reported the results from the first five holes in August, which highlighted a new discovery in BPRC1703 (17m at 3g/t gold from 104m).

The final three holes of the program have only recently been completed, encountering mineralisation approximately 120 metres north along strike of hole BPRC1703.

Highlight intercepts include:

14 metres at 1.87 grams per tonne gold from 129m; and

10m at 1.3g/t gold from 183m, including 2m at 3.93g/t gold from 183m.

“The results from Baden Powell are encouraging given they have extended the strike length of the mineralisation and demonstrated the system is developing at depth,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Follow up work is planned for the second half of 2018.

“The company is certainly spoilt for choice as we plan the large scale self-funded drilling program for 2018.

“Anthill and Jacques Find will be prioritised given recent drilling success and we eagerly await results from the current drilling at Blister Dam due early in the March Quarter.”

Intermin indicated the drilling results it has achieved throughout 2017 have encouraged the company to conduct further drilling.

This is most likely to occur at the Anthill and Jacques Find projects, which will be prioritised for follow up in 2018.

Intermin will also focus on low level exploration work at Baden Powell, with the intent to conduct a soils-mapping program over M24/959 and possibly an Induced Polarisation (IP) survey.

The company considers the IP survey could assist in fast tracking targeting of potential locations of an interpreted high-grade structure intercepted in hole BPRC1703.

Any IP targets discovered would be drill tested early in 2019.



Impact Minerals Reviewing Previous Exploration On Pilbara Gold Project

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) is completing a review and synthesis of previous exploration data and mapping by the Geological Survey of Western Australia (GSWA).

Impact Minerals applied for nine new 100 per cent-owned Exploration Licences earlier this year, covering approximately 1,300 square kilometres of ground it considers prospective for conglomerate-hosted gold in the Pilbara region of Western Australia.

The company’s review of the GSWA material is focusing on what it believes to be the two most prospective conglomerate horizons within the Fortescue Group.

These are the conglomerates of the Hardey Formation that hosts the Beatons Creek resource (6.4 million tonnes at 2.7 grams per tonne gold for 558,000 ounces of gold) held by Novo Resources Corporation near Nullagine, and conglomerates at the base of the Mt Roe Basalt., which contains the recent gold discovery at Purdeys Reward-Comet Well by Novo Resources and Artemis Resources.

Impact said that field checking and previous mapping indicates prospective conglomerates occur over at least 90 kilometres of trend at or close to surface within the company’s licence applications, in particular to the west and east of Marble Bar as well as close to the Beatons Creek deposit near Nullagine.

West of Marble Bar, previous exploration in the district has highlighted gold occurrences associated with the conglomerate horizons on and along trend from Impact’s licence applications ELA45/4972 and ELA45/4971, where four main gold-bearing conglomerate occurrences with similar characteristics to those that occur within the Witwatersrand Basin of South Africa have been discovered.

“We were recently privileged to visit the Purdeys Reward-Comet Well area with Novo Artemis and have seen first-hand the reasons why it had not been discovered before, the potential scale of the discovery and also the difficulties of exploring and sampling for this style of deposit,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“It is evident that there is a wide range in size and distribution of gold within these conglomerates and it is this that has hampered previous exploration for this style of mineralisation.

“We are now determining the most appropriate sampling methodologies for our on-ground exploration which will commence in earnest on grant of the licences.”

Impact made its move to the Pilbara following the discovery of gold in conglomerates at the base of the Fortescue Group by Artemis Resources and its subsequent Joint Venture with Novo Resources Corporation.

Impact considers this discovery has indicated a breakthrough had been made in the search for conglomerate hosted gold deposits of a similar age to the Witwatersrand Basin of South Africa in the Pilbara.



Azure Minerals hits Outstanding Gold and Cobalt at Sara Alicia

THE DRILL SERGEANT: Azure Minerals (ASX: AZSDA) shouted from the rooftops to report it had encountered high-grade gold and cobalt mineralisation in the company’s first drilling program on its 100 per cent-owned Sara Alicia project, located in Sonora State, Mexico.

Azure Minerals said it had intersected a wide zone of near-surface, high-grade gold and cobalt mineralisation.

The company indicated the mineralised zone to be open in all directions.

The best gold intercept encountered was:

26.2 metres at 8.6 grams per tonne gold, including 12.6m at 14.9g/t gold.

The company claimed the drilling returned other, numerous high-grade gold assays, including: 66.2g/t gold, 33.9g/t gold, 28.1g/t gold, and 25.7g/t gold.

The best cobalt intercept came in at:

26.2m at 1.26 per cent cobalt, including 6.35m at 3.57 per cent cobalt.

Other high-grade cobalt assays, included 6.62 per cent cobalt, 4.24 per cent cobalt, 4.04 per cent cobalt, and 3.06 per cent cobalt.

“This maiden drilling campaign has exceeded our expectations and confirmed the presence of high-grade gold and cobalt mineralisation over significant widths,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“The spectacular cobalt grades in hole DSA-03 are up there with the highest I’ve ever seen and, encouragingly, the mineralisation starts at surface and remains open in all directions.

“These wide, high-grade zones host strong gold mineralisation consistently assaying in the range of 10 grams per tonne to 60 grams per tonne and cobalt grading from one per cent to six per cent.

“We believe there’s good potential for a high-value body of gold and cobalt mineralisation to be defined at Sara Alicia, and further exploration will be undertaken to identify the size potential.”


Tyranna Resources Announces Drilling at Greenwood Gold Prospect

THE DRILL SERGEANT: Tyranna Resources (ASX: TYX) reported the commencement of diamond drilling at the Greenwood gold prospect by the Western Gawler Craton Joint Venture.

The Greenwood prospect is located approximately 37km north of the Challenger Gold Mine and part of the larger Jumbuck Gold Project in the Northern Gawler Block of South Australia.

Tyranna Resources said that approximately 1,000 metres of diamond drilling is underway to follow up the company’s grass roots gold discovery at the Greenewood gold prospect where recent high-grade reverse circulation (RC) drilling results were reported including:

From scissor hole 020
22 metres at 4.03 grams per tonne gold from 50m, including 1m at 20.4g/t gold 51 to 52m, including 1m at 36.9g/t gold from 55 to 56m; and

Hole 031 into fresh rock (primary zone) 
10m at 5.16g/t gold from 31m, including 1m at 29.4g/t gold from 36m, including 1m at 7g/t gold from 37m.

Tyranna Resources outlined the reasons the JV had to back up this drilling program to include a follow up of recent RC drilling depth penetration difficulties and to extend depth extension of primary zone fresh rock where the recent pipe like structures were located.

The JV also hopes to gain accurate structural information to update the current resource model.

HQ sized core will be drilled to provide samples for geological, metallurgical and mining studies.

“Tyranna completed a highly successful drilling program in the first half of 2016, which resulted in the discovery known as the Greenewood gold prospect located within the Jumbuck gold project,” the company said in its ASX announcement.

“This is the first grass roots discovery in the Jumbuck gold project area in over 15 years.

“After interpretation of the RC results of recent exploration drilling by Tyranna geologists, it became apparent that the next logical step was to commence the diamond drilling program to improve the understanding of the structural constraints of the mineralisation.”

Tyranna Resources is manager of the Western Gawler Craton Joint Venture, which includes WPG Resources (ASX: WPG) (TYX 75% – WPG 25%) and Coombedown Resources Pty Ltd.



Tando Resources Encounters Quartz Bore Massive Sulphides

THE DRILL SERGEANT: Tando Resources (ASX: TNO) announced the intersection of massive sulphides in the first drill hole carried out at the Balla Balla prospect that forms part of the company’s 100 per cent-owned Quartz Bore project, in the Pilbara region of Western Australia.

Tando Resources is running the maiden drill program at Quartz Bore with the aim of generating targets below, and along strike from, high-grade zinc-copper mineralisation defined in historical drilling at the Balla Balla prospect.

To that end, hole QBDD0001 is testing for extensions of mineralisation below and adjacent to historical drillholes:

7.6 metres at 4.86 per cent zinc, 2.13 per cent copper and 1.56 per cent lead, including 2m at 13.71 per cent zinc; and

3.5m at 5.68 per cent zinc, 0.39 per cent copper and 2.03 per cent lead.

5m at 3.15 per cent zinc.

Tando claimed it had intersected two sulphide-bearing zones containing greater than 10 per cent sulphide minerals 326.5m (extending for 9m downhole) and 342.5m (extending for 5m), including lengths of massive sulphide (containing 80-90% sulphide minerals) up to 1.4m in length.

The company said the style of mineralisation encountered had given it encouragement that downhole surveys will be able to detect extensions to these zones due to the different petrophysical properties of their constituent sulphides.

“To intersect substantial sulphides in our first drill hole is very encouraging,” Tando Resources managing director Bill Oliver said in the company’s announcement to the Australian Securities Exchange.

“The focus of this initial program is to validate high-grade historical drilling results, and this intersection confirms our belief that the Quartz Bore project hosts significant zinc-copper mineralisation.

“We now look forward to drilling further holes to test other extensions to mineralisation.”





Gold Road Yamarna_May2017 (300x225)

Good News is Best News for Gold Road Resources

THE INSIDE STORY: Gold Road Resources’ (ASX: GOR) is determined to repeat the Gruyere gold discovery from its substantial 6,000 square kilometre Yamarna Belt tenement holding in Western Australia.

Having negotiated the Gruyere Joint Venture (GJV) deal with Gold Fields Ltd, which the Diggers & Dealers Mining Forum declared, the ‘Deal of the Year’, Gold Road Resources embarked on a $30 million greenfield exploration drilling program.

This recent drilling was centred on the Wanderrie and Corkwood Camps, located within the company’s 100 per cent-owned North Yamarna tenements.

This included RC and diamond bedrock testing of prioritised highest-ranked targets, and infill definition of gold anomalies identified through regional aircore drilling completed while Gruyere studies were being completed.

Of interest was developing an improved understanding of these targets with Santana and Satriani (Wanderrie Camp), and Ibanez (Corkwood Camp) receiving priority attention.

Broad spaced drilling confirmed gold bedrock mineralisation along the main mineralised shear through the Santana and Satriani prospects, which form part of a continuous 11-kilometre-long mineralised corridor known as the Wanderrie Supergroup Trend.

Best Wanderrie mineralised intersections included:

Satriani RC

2m at 14.74g/t gold from 73m;

Santana RC

1m at 17.73g/t gold from 68m; and


5m at 2.03g/t gold from 108m.

Similar bedrock drilling testing the Ibanez prospect at the Corkwood Camp returned intersections of:

Ibanez DDH

8.2m at 11.63g/t gold from 229.67m, including 3.33m at 27.48g/t gold from 232.26m; and

Ibanez RC

10m at 28.67g/t gold from 240m, including 2m at 136.57g/t gold from 240m.

Each new drilling campaign at all three prospects encouraged the company, with planning now underway for systematic framework drilling to definine greater extents of the mineralised systems.


Anticipated results from this extended work will provide a deeper understanding of each prospect’s potential as the company aims to progress at least one of these areas to advanced infill drilling in 2018.

Other work completed on the North Yamarna tenements included aircore definition of a five-kilometre southern continuation of the Wanderrie Supergroup Trend through the Gilmour and Morello prospects, where early bedrock drilling intersected gold mineralisation.

Gold Road interprets Supergroup Trend to be the southern continuation of the Attila‐Alaric Trend, which already hosts 420,000 ounces of gold in Mineral Resources.

The Attila‐Alaric Trend continues over 30 kilometres further south to the Yaffler and Toppin Hill prospects on the company’s South Yamarna Joint Venture tenure, a 50:50 Joint Venture with Sumitomo Metal Mining Oceania Pty Ltd.

The JV’s recent exploration efforts at South Yamarna centred on selective testing of priority targets, particularly the Breelya‐Toppin Hill, Spearwood and Kurrajong Camp Scale targets, where a total of 12 Reverse Circulation (RC) and 103 aircore drill holes were carried out.

Bedrock mineralisation was intersected at Yaffler South, in the Breelya‐Toppin Hill Camp, piquing the JV’s interest by delineating a thick mineralised shear zone close to the contact of a dolerite with a sedimentary unit, which it is confident can be identified in magnetics.

A strike length of 1.4km of mineralisation has been identified to date, providing room for follow‐up drilling that is pencilled in, at this stage, for next year, enhancing the JV’s portfolio of advanced drilling targets.

Best bedrock intersections at Yaffler South, included:

2m at 4.34g/t gold from 142m; and

15m at 0.68g/t gold from 40m, including 1m at 5.84g/t gold from 49m.

A further program, consisting 103 aircore holes was carried out at the Kingston North target, designed to infill and extend anomalism delineated by drilling completed last year.

The drilling confirmed the Kingston North target includes an area of structural complexity with north to north‐west striking shear zones being interpreted from geophysical data.

The company’s geological interpretation of the Kingston North results indicates anomalous gold mineralisation associated with zones of stronger shearing.

These anomalous zones are being incorporated into a detailed geological and structural re‐interpretation that will form the basis for follow up drilling.

“The drilling we have completed this year has provided some extremely encouraging results,” Gold Road Resources executive director ‐ exploration & growth Justin Osborne told The Resources Roadhouse.

“The Gruyere project team has been keeping the project build right on schedule, which has allowed us to focus on speeding up our exploration programme across the broad Yamarna Belt.”

Progress of the Gruyere gold project is happening without much fanfare or headlines, which Gold Road Resources is very pleased about.

As exciting as it is to be building a project of the scale of Gruyere, Osborne said the company was holding the advice of chairman Tim Netscher in high regard.

“It’s great having somebody with the experience of Tim as our chairman and working so close with the Board and the Steering Committee,” Osborne said.

“He’s been through all this before and he knows that the most common news you expect to hear during development of a project is bad news – so we are more than happy not to be generating headlines as the project ticks along on schedule.”

It has been a case of so far so good for the Gruyere gold project, which has quietly progressed, on schedule and budget, under the stewardship of JV partner Gold Fields.

The right boxes continue to be ticked with engineering, procurement and construction (EPC) contractor Amec Foster Wheeler Civmec Joint Venture (ACJV) having commenced process plant construction.

A concrete batch plant was also commissioned, allowing the ACJV to complete the first concrete pour in the carbon‐in‐leach (CIL) area.

Fabrication of the steel plate for the CIL plant tanks, the first of the major components required for the process plant, commenced in Civmec’s Henderson facility south of Perth, which will complete all of the steel fabrication from 100 per cent Australian sourced steel.

Bulk earthworks contractor MACA has completed clearing of the process plant site, construction of the Gruyere airstrip and Gruyere main access road, and has also commenced clearing for the Stage 1 open pit, having completed clearing for the Tailings Storage Facility.

MACA has also started initial construction works for the installation of production and monitoring bores for the Yeo borefield, which will supply the mine and process plant.

A strong field of companies tendering for the mining services contract has been whittled down to a short list of three.

It is expected this contract will be finalised by the end of the year, allowing the successful party to start mobilising to site in the March 2018 quarter.

There may not be as many months left in the year as there were, but Gold Road shows no sign of slowing down before Christmas.

Work on the North Yamarna tenements will include diamond and RC drilling at Ibanez targeting stacked high‐grade lode structures to allow further advanced infill drilling.

On the Gruyere JV, Gold Road expects to report a maiden Mineral Resource estimate for YAM14 in early 2018.

Alaric and Attila pre‐feasibility studies are near completion which if positive will allow reporting of first Ore Reserves also early in 2018.

A high level conceptual mining study for the northern higher-grade zone of Gruyere is also underway to assess potential for future drilling in this area of the deposit.

The South Yamarna JV will conduct drilling at Yaffler, subject to pending assays, in concert with development of a structural and geological map for Kingston North to guide future bedrock testing.


Gold Road Resources (ASX: GOR)
… The Short Story

Level 2
26 Colin Street
West Perth WA 6005

Ph: +61 8 9200 1600


Tim Netscher, Ian Murray, Justin Osborne, Sharon Warburton, Brian Levet