Aston Minerals (ASX: ASO) has the drill bit spinning at the company’s Boomerang nickel discovery in Canada. Aston Minerals executive chairman Tolga Kumova zoomed into The Resources Roadhouse to provide an update on progress.
Great Northern Minerals (ASX: GNM) recently completed drilling at its Camel Creek gold target in Queensland heading towards establishing a Minerals Resource. Technical director Simon Coxhell zoomed into The Resources Roadhouse to update us on proceedings.
Allup Silica is about to enter the realms of producing silica sand for the international market and the boards of the ASX via a $5 million IPO. Allup Silica executive chairperson Andrew Haythorpe zoomed into The Resources Roadhouse to fill us in on the company’s aspirations on both levels.
THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) has completed a ground IP survey over the Nepean North prospect of the company’s Nepean project in Western Australia (Auroch Minerals 80%).
Auroch Minerals completed a ground Dipole-Dipole Induced Polarisation (DDIP) survey that identified strong chargeability anomalies (>37mV) located below the weathering profile on 16 of the 19 survey lines completed.
Inversion models of the surveyed lines show the strong chargeability features are associated with both intrusive and extrusive mafics (orogenic gold targets) and on the contacts of the prospective ultramafic units (nickel sulphide targets).
The company has interpreted the IP chargeability anomalies to represent priority targets for follow-up drill-testing.
A 3,000 metres RC drill program has been planned and a work permit (PoW) applied for, with a dedicated RC drill rig currently being sourced.
“The ground IP survey has been very successful in defining anomalies in an area of Nepean that is very underexplored,” Auroch Minerals managing director Aidan Platel said in the company’s ASX announcement.
“The consistency and strength of the anomalies, combined with their location relative to the geology, provides compelling targets that we are eager to test with follow-up drilling.
“Pending the assay results of the pegmatite intersections in our RC drill-holes to the north of the historic Nepean mine, the planned drill program testing the gold and nickel targets may be refined to include further drill-holes to test for LCT mineralisation in this very prospective northern area of the Nepean tenure.
“In parallel to our exploration programmes the metallurgical test work on the known shallow high-grade nickel sulphide mineralisation near the historic Nepean mine has progressed successfully, and the final results that are due next month will be a key factor in driving the project towards potential future development.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@aurochminerals.com
THE BOURSE WHISPERER: Oar Resources (ASX: OAR) has cashed up in the week before the 2020 RUI Explorers Conference by entering a definitive and binding Tenement Sale Agreement for the sale of the company’s non-core Bramfield iron ore project in South Australia.
Oar Resources has sold the Bramfield project to Vietnamese based company, The Hoa Phat Group via its subsidiary Dragon Resource Investment Pty Ltd for all-cash consideration of $500,000.
The company explained the Bramfield sale is part of its ongoing strategic review to rationalise its portfolio and where possible, generate cash from non-core assets, to apply towards its core assets.
“The sale of the Bramfield iron ore project is a great outcome for Oar Resources,” Oar Resources CEO and managing director Justin Richard said in the company’s ASX announcement.
“The company will continue to evaluate opportunities to sell other non-core assets that generate non-dilutive cash and improve its balance sheet.
“Anyone who knows mineral exploration, knows the early stages in a project’s lifecycle present high-risk, high-reward opportunities.
“OAR is in a favourable position compared to many of its peers, having a diverse project portfolio that includes several promising projects with potential to become standalone mining companies in their own right.
“The current review of the company’s project portfolio includes divesting any projects that are not part of OAR’s key focus moving forward, mainly our South Australian projects.
“Some factors being considered as part of the strategic review include a project’s stage of development, the commodities it offers and its impact on shareholder value.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@oarresources.com.au
THE DRILL SERGEANT: Galileo Mining (ASX: GAL) will be eager to tell punters at the 2022 RIU Explorers Conference about the results of recent EM surveying at the company’s 100 per cent-owned Norseman project in Western Australia.
Galileo Mining designed the EM surveying to target prospective areas on the margin of the large scale Jimberlana Dyke where the company’s recent aircore drilling intercepted massive sulphide mineralisation at 60 metres downhole.
Galileo has interpreted the EM data to show sulphide occurrence in drill hole NAC105 is located at the confluence of two large and highly conductive bodies.
A separate conductive target has been identified on the southern margin of the Jimberlana Dyke with extremely high modelled conductivities interpreted to represent a substantial source thickness.
A coincident magnetic anomaly at this location adds support to the target.
“The results of our EM surveying at Norseman are exceptional and, combined with the identification of sulphide in aircore drilling, we now have well developed targets ready for drill testing,” Galileo Mining managing director Brad Underwood said in the company’s ASX announcement.
“The sulphide in aircore drilling is just 52 metres below surface (60 metres downhole) and is immediately above the modelled conductors which start at 70 metres below surface.
“The location of the sulphide on the margin of a large ultramafic dyke is an excellent setting for the development of mineralisation and the EM models provide substantial weight to the target.
“Further to the main sulphide target we have identified another strong conductor on the southern margin of the Jimberlana Dyke at a similarly prospective location.
“The modelled conductor at this location is accompanied by a magnetic anomaly and starts between 20 and 40 metres below surface.
“All of the new EM targets can be readily tested with RC drilling due to their shallow depths.
“RC drilling is planned to commence after heritage surveying and statutory approvals have been received.”
Email: info@galmining.com.au
THE DRILL SERGEANT: Caspin Resources (ASX: CPN) will have plenty to tell investors at the 2022 RIU Explorers Conference after its announcement of new drilling results from the XC-22 prospect at the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia.
Caspin Resources recently declared a new nickel-copper sulphide discovery at the XC-22 airborne electromagnetic (AEM) anomaly based on visual observations.
The company has now drill hole YARC0022, the first hole to test the AEM anomaly, which has intersected a sulphide zone over 60 metres thick from immediately beneath the fresh rock interface, only 46m down hole.
A 68m zone of mineralisation in YARC0022 includes two distinct higher-grade zones:
Upper Ni-Cu sulphide zone
2 metres at 1.42 per cent nickel, 0.47 per cent copper, 0.33 grams per tonne 3E (palladium+platinum+gold) from 46m; and
Lower low-sulphide, PGE-rich zone
13m at 0.97g/t 3E, 0.26 per cent nickel and 0.21 per cent copper from 101m, including 2m at 2.88g/t 3E, 0.23 per cent nickel, 0.09 per cent copper from 112m.
“We’ve confirmed significant nickel and copper sulphide mineralisation at shallow depths associated with the AEM anomaly that stretches over 700 metres,” Caspin Resources chief executive officer Greg Miles said in the company’s ASX announcement.
“Mineralisation is open in all directions and is an exciting target.
“The lower PGE-rich mineralisation is probably even more enticing.
“This is the first time we’ve been able to demonstrate continuous PGE mineralisation from surface into the basement rocks at potentially economic levels.
“The geological setting is also different from what we’ve previously observed within the Central Yarabrook Hill area and is more akin to mineralised settings at Gonneville.
“We’ve opened up a new and exciting exploration front and taken a substantial leap forward on the pathway to discovery.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@caspin.com.au
Web: www.caspin.com.au
THE BOURSE WHISPERER: Coda Minerals will be expecting a rush of interest at the 2022 RIU Explorers Conference next week after announcing it is to merge with Torrens Mining to create a leading base and precious metals exploration company focussed on the Elizabeth Creek copper project in South Australia.
If successful, the proposed merger is expected to result in Coda consolidating 100 per cent-ownership of the Elizabeth Creek copper project via the acquisition of Torrens’ current 30 per cent Joint Venture interest.
“The combination with Torrens provides a compelling opportunity to create value for both sets of shareholders by unlocking important synergies in the exploration and development of our core asset, the Elizabeth Creek copper project in South Australia,” Coda Minerals chief executive officer Chris Stevens said in the companies’ joint ASX announcement.
“The offer provides an immediate premium of over 30 per cent, while the consolidation of 100 per cent-ownership of Elizabeth Creek in a single company represents a logical and very positive next step in the project’s evolution.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@codaminerals.com
Web: www.codaminerals.com
THE DRILL SERGEANT: Matador Mining (ASX: MZZ) will be telling all and sundry at next week’s 2022 RIU Explorers Conference how it has commenced its first winter drill program at the company’s Cape Ray gold project in Newfoundland, Canada.
Matador Mining’s inaugural winter season diamond drilling program will be focusing on a corridor encompassing the PW East, Stag Hill, Isle aux Morts and Benton prospects along the Cape Ray Shear Zone.
The program of approximately 30 diamond holes, for 3,000 – 4,500 metres has been designed to:
• Investigate the surficial geochemistry and magnetic anomalies at PW East and along the untested northern Margin of the Central Zone Mineral Resource which hosts a current Mineral Resource of 526,000 ounces at 2.2 grams per tonne gold;
• Follow up on results of the 2021 surficial and auger geochemistry and magnetic anomalies at Stag Hill;
• Drill test the brownfield depth extensions and greenfield targets proximal to the Isle aux Morts deposit identified at the end of the 2020 diamond drill program, including IAM-SW1, 2 ; and
• Follow up on results of the auger drilling, diamond drilling, surficial geochemistry, and magnetic anomalies at Benton.
“In 2021, we commenced the largest ever drill program at the highly prospective Cape Ray gold project, with 20,681 metres of diamond drilling completed during the year,” Matador Mining Executive Chair Ian Murray said in the company’s ASX announcement.
“However, winter conditions in Newfoundland typically halt traditional drilling for a few months.
“To mitigate this, our inaugural winter drill program…will allow Matador to maintain the aggressive pace of exploration that we have established at Cape Ray, during what is typically a period of inactivity in the field.
“As the winter program then segues into our 2022 summer program, Matador will prove itself as an exploration company that can successfully and efficiently execute exploration programs in all seasons, and provide investors with regular news flow throughout the year.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@matadormining.com.au
THE BOURSE WHISPERER: Matsa Resources (ASX: MAT) will have lots to talk about at next week’s 2022 RIU Explorers Conference after announcing that the company has recommenced active exploration in Thailand.
Matsa Resources has applied for 65 new Special Prospecting Licence Applications (SPLAs) in Thailand for 942 square kilometres in key granite/pegmatite belts.
The SPLAs cover ground known by the country’s Department of Minerals and Resources to host lithium occurrences.
Matsa is well prepared having a fully functional office, staff and skills in the country and is well positioned to actively grow its portfolio.
“Thailand has always been a place of special interest to Matsa and we always understood its excellent geological prospectivity, but had to be patient whilst the country matured their mining legislation and consent processes,” Matsa Resources chairman Paul Poli said in the company’s ASX announcement.
“We have observed substantial progress in this area over the last six months and authorities have now been positively engaging with miners.
“This is clearly evident through Kingsgate recommencing mining at their Chatree gold mine and even further afield, the success of Pan Asia with their lithium discoveries.
“Matsa sees enormous opportunities in exploration for lithium, gold and base metals, not only because of the highly prospective geology, but also the economic ramifications of Thailand’s close location to China.
“The two countries are now directly linked by rail which could have positive economic benefits to any mine development within the region.
“I see Thailand as an emerging mining frontier where tier one discoveries are bound to be made and with the change of attitude to mining it will be a great exploration destination.
“Our Thailand office, led by our Thailand managing director Mr Ratha Kheowhamseang, is taking advantage of this changing environment and using Matsa’s extensive Thailand experience and knowledge to build a high value exploration portfolio that will complement Matsa’s highly regarded Lake Carey gold project.
“Matsa intends to use some of the funds from the recently announced $20 million sale of Red October and Devon to advance the projects.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: reception@matsa.com.au
Web: www.matsa.com.au
