Quarter Time Wrap.

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COMMODITY CAPERS: Company Quarterly Reports are a good way to catch up on what’s been happening over the past three months. Here we take a quick glimpse at a few.

Caspin Resources (ASX: CPN) completed a solid December Quarter with highlights including:

At the Yarawindah Brook project RC drilling at the XC-22 prospect intersected further nickel-copper sulphides that included a zone of up to 40 metres of disseminated nickel and copper sulphides in serpentinised ultramafics and pyroxenites in drillhole YARC0022, including a 2m zone of up to 20 per cent sulphides (assays pending).

Drilling was carried out of drillhole YARC0027 (assays pending), 175m along strike and down dip of YARC0022 that intersected gabbro and pyroxenite sequences with trace to minor disseminated sulphides.

Caspin sees the XC-22 prospect to be emerging as a separate prospect with mineralisation remaining open at this stage.

Other work has resulted in large-scale PGE-nickel-copper mineralisation trends emerging at the Central Yarabrook Hill prospect.

Continuity of mineralised ultramafic has been demonstrated over 1,500m down-dip and 3,000m of strike extent.

Multiple target concepts are still to be evaluated.

Caspin completed an EIS-funded stratigraphic diamond hole with multiple zones of sulphides intersected and lithologies supporting the company’s conceptual geological model.

Drilling is scheduled to recommence in February 2022 with several Phase 2 holes to be extended with ‘diamond tails’ in addition to drilling new, previously untested targets.

Airborne Electromagnetic survey now providing complete project-wide coverage Corporate.

The company is in a strong financial position with $12.3 million in the bank at end of quarter.

 

The focus for Argentina-focused lithium play Galan Lithium (ASX: GLN) during the December Quarter was ongoing feasibility works, construction activities and further drilling at the company’s high-grade Hombre Muerto West (HMW) project and the completion of the PEA/scoping study for the Candelas project.

Both projects are in the Hombre Muerto West salt flat in the South American Lithium Triangle.

Galan completed an updated stronger, compelling HMW economic study, resulting in unleveraged pre-tax NPV of US$2.2 billion, IRR of 37.5 per cent and less than three year payback period.

The HMW Feasibility Study was awarded to Hatch an independent firm that is anticipated to work with Galan’s close knit, highly experienced group of consultants.

Long term average lithium price assumption of US$18,594 per tonne lithium carbonate equivalent (LCE) battery grade used for both the HMW and Candelas projects economic assessments.

The company achieved excellent Preliminary Economic Assessment (PEA) results for Candelas, including unleveraged pre-tax NPV of US$1.225 billion, IRR of 27.9 per cent and a four year payback period.

The study determined an initial capital cost of US$408 million with a long project life of 25 years at 14,000 tonnes per annum of battery grade LCE.

A competitive cash production cost for Li2CO3 of US$4,227/t would position Candelas as a low-cost developer in the lithium industry.

 

During the December Quarter Neometals (ASX: NMT) advance progress of the company’s Lithium Battery Recycling Project (Neometals 100%, SMS earning into 50% through Primobius GmbH incorporated JV).

Neometals has developed a sustainable process flowsheet targeting the recovery of battery materials contained in production scrap and end-of-life lithium-ion batteries (LIBs) that might otherwise be disposed of in land fill or processed in high-emission pyrometallurgical recovery circuits.

Neometals’ process flowsheet (LIB Recycling Technology) targets the recovery of valuable materials from consumer electronic batteries (devices with lithium cobalt oxide (LCO) cathodes), and nickel‐rich EV and stationary storage battery chemistries (lithium‐nickel-manganese‐cobalt (NMC) cathodes).

The LIB Recycling Technology is designed to recover cobalt, nickel, lithium, copper, iron, aluminium, carbon and manganese into saleable products that can be reused in the battery supply chain.

A pilot trial at SGS Lakefield, Canada in 2019/20 produced cathode-grade nickel and cobalt sulphate products which collectively represent approximately 80 per cent of the value of the basket of products recovered.

A demonstration scale trial commenced in DecQ 21, which is expected to generate data for the company’s Feasibility Study.

Source: Company announcement

Neometals entered an incorporated 50:50 Joint Venture with SMS group GmbH, called Primobius GmbH.

Primobius was incorporated to co-fund and complete final stage evaluation activities and to consider commercialisation of the LIB Recycling Technology.

 

 

Saturn Metals Confirms New Gold System

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THE DRILL SERGEANT: Saturn Metals reported confirmation of a new large gold system seven kilometres east of the company’s Apollo Hill Mineral Resource.

Results from initial RC drilling at the Bob’s prospect adjacent to the Apollo Hill deposit, included:

AHRC0825
5 metres at 6.82 grams per tonne gold from 130m;

AHRC0827
5m at 3.15g/t gold from 168m;

AHRC0822
8m at 1.04g/t gold from 153m; and

AHRC0826
4m at 1.85g/t gold from 132m.

Saturn has interpreted the improving results at Bob’s to be continuing to demonstrate the prosect could be a target of considerable size with increasing grade vectors and promising geology.

Drilling remains open along strike and down plunge of key intersections.

The company has planned RC follow up at Bob’s and is proceeding with AC step out programs on the greater ‘Camp Scale’ opportunity.

“We are excited by the prospect’s proximity to our Apollo Hill Mineral Resource and the exploration potential highlighted in the surrounding geology,” Saturn Metals managing director Ian Bamborough said.

“The company will report on progress as assay batches are received and processed.”

The Apollo Hill deposit and project are 100 per cent owned by Saturn Metals.

The company believes the Apollo Hill project has potential to become a large tonnage, simple metallurgy, low strip open pit mining operation.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

Musgrave Minerals Firms UP Cue JV with Evolution

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THE DRILL SERGEANT: Musgrave Minerals announced news from the company’s Cue Joint Venture with Evolution Mining over Lake Austin in Western Australia’s Murchison district.

Musgrave reported new assay results from aircore and diamond drilling programs underway on the Cue JV with the aircore results continuing to extend the large regolith gold mineralisation at the West Island prospect and the diamond drilling returning high-grade basement gold mineralisation.

Diamond core intercepts from the December 2021 quarter included:

21MODD025
4.26 metres at 41.5 grams per tonne gold from 160.74m, including 0.41m a 400.2g/t gold from 160.74m; and

21MODD033
6m at 2.7g/t gold from 125m;

The company also announced that Evolution has elected to act as the Earn-in Manager from 1st January 2022, thus freeing up Musgrave personnel to accelerate activities on the company’s 100 per cent-owned tenure.

Evolution had initially committed to a $5 million exploration spend to fund further drilling at Cue in FY22 and have now increased the JV budget for the second half of the year.

The intent is to accelerate exploration and to delineate the scale of the gold system at West Island, to test additional gold-in-regolith aircore anomalies and define new diamond drilling targets through aircore drilling.

“The gold system at the Cue JV with Evolution continues to deliver strong results with diamond drilling confirming the potential for multiple high-grade basement gold lodes within the dolerite sill at West Island,” Musgrave Minerals managing director Rob Waugh said.

“Evolution increasing the exploration budget in H2 2022 and electing to act as Earn-in Manager from 1 January 2022 is a positive move and an indication of the upside potential of the Joint Venture ground.”

 

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Impact Minerals Kicks Off 2022 Exploration Campaigns

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THE DRILL SERGEANT: Impact Minerals has commenced it 2022 exploration campaign with work underway at two of the company’s projects across Australia.

The first involves a ground electromagnetic (EM) survey at Broken Hill as part of the company’s Joint Venture with IGO, which IGO can earn a 75 per cent interest in EL7390 and EL8234.

The EM survey is using a deep penetrating SQUID system to test the two tenements for deposits of high-grade massive nickel-copper-PGM including the Moorakai Trend and the Little Broken Hill Gabbro.

The Moorakai Trend is a nine kilometre long ultramafic to mafic dyke and chonolith complex that is very poorly explored.

At the Little Broken Hill Gabbro, Impact completed the first ever drill program across the seven kilometre intrusion, identifying areas of highly anomalous PGM’s in the basal unit to the intrusion over several kilometres.

“It is great to have made a start on our on-ground exploration programmes so early in the New Year,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“IGO Limited have now commenced a major electromagnetic survey at Broken Hill and we thank them for their efforts to get the survey underway under the trying conditions of the COVID-19 outbreaks in New South Wales.”

At the 80 per cent owned Doonia gold project in WA, 30km west of the recent Burns discovery by Lefroy Exploration a reverse circulation drill program is testing soil geochemistry and geophysical targets.

The principal target is a gold-bismuth soil geochemistry anomaly overlying a cluster of isolated magnetic anomalies in the centre of the project that may represent targets for intrusion related gold like Burns.

“The maiden RC drilling program is underway at Doonia and we are looking forward to testing a number of targets, some of which were identified over 20 years ago and have never been followed up,” Jones said.

“It will be interesting to see what is hidden at depth beneath them given the similarities to the nearby Burns discovery which was originally identified in the same exploration program as Doonia by WMC Resources in 1999.”

 

 

 

Email: info@impactminerals.com.au

 

Web: www.impactminerals.com.au

 

Gateway Mining Hits High-Grade Intercepts at Julias

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THE DRILL SERGEANT: Gateway Mining (ASX: GML) reported a series of shallow high-grade intercepts achieved from Reverse Circulation (RC) drilling completed late last year at the Julias target area, within the company’s Gidgee gold project in the Murchison Region of Western Australia.

Gateway Mining said the results confirmed the presence of a consistent oxide gold zone over a 500 metres strike length at Julias which remains completely open to the north and south, elevating this area as a priority focus for follow-up drilling scheduled to commence early next month.

Results include:

GRC762
11 metres at 2.6 grams per tonne gold from 24m;

GRC763
10m at 3g/t gold from 38m, and 12m at 2.4g/t gold from 60m;

GRC761
9m at 3.5g/t gold from 67m; and

GRC758
9m at 3.4g/t gold from 55m.

“This is an exciting breakthrough for Gateway which gets the New Year off to a flying start,” Gateway Mining managing director Mark Cossom said in the company’s ASX announcement.

“We now have consistent broad widths of high-grade oxide gold mineralisation in RC drilling over a 500 metres zone at Julias – and the zone remains completely open to the north and south!

“The ability to rapidly add shallow oxide ounces is a huge bonus for any emerging gold project, and we appear to have a large oxide system on our hands here at the Julias-Flametree target.

“Considering that we had wide zones of high-grade mineralisation in air-core drilling just 800 metres to the south at Flametree, this area clearly has huge potential.

“We have a rig booked to start air-core drilling along the entire trend in early February 2022 together with systematic RC drilling along the main zone.

“Our objective will be to in-fill as much of the area as we can and bring it into our resource inventory as quickly as we can, while continuing to scope out the potential of the broader system.

“We feel increasingly confident about our exploration targeting at Gidgee, and we are hopeful that this will be the first of several exciting discoveries over the course of the next few months and beyond.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@gatewaymining.com.au

 

Web: www.gatewaymining.com.au

 

Great Boulder Resources AC Drilling at Whiteheads Project

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) resumed AC drilling at the company’s Whiteheads project north of Kalgoorlie in Western Australia.

Great Boulder HAS set off to drill approximately 5,000m of planned drilling to continue testing five regional targets, including Blue Poles South, Tektite and Highbury on the Arsenal Trend, as well as further drilling at Jubilee North and the first drill program at the Eclipse prospect.

In anticipation of this program being completed, Great Boulder haS a diamond rig scheduled to commence drilling at the Mulga Bill prospect at Side Well in mid-February.

122 AC holes were drilled at Whiteheads in September and October 2021 testing a range of regional targets, including some that had not previously been drilled.

These included eight holes at Gunners, 23 holes at Tektite, south of Blue Poles, and eight holes at Highbury southwest of Tektite, all three targets on the Arsenal Trend.

Other drilling entailed six holes on a single fence of drilling at Reception Hill, 57 holes along strike to the northwest and southeast of Seven Leaders, and 20 holes at Jubilee North.

The program generated several anomalous intersections, including:

21WHAC110 at Tektite
1 metre at 2.55 grams per tonne gold from 41m;

21WHAC128 at Jubilee North
4m at 0.61g/t gold from 80m; and

WHAC174 at Seven Leaders
12m at 0.23g/t gold from 67m.

“It’s good to have our field team back on the ground at Whiteheads while we continue developing drilling programs for Side Well,” Great Boulder Resources managing director Andrew Paterson said.

“Whiteheads is a big project with dozens of priority targets, and this program continues our systematic testing that has been ongoing for the past two years.

“We’re also looking forward to the upcoming diamond program at Side Well next month.

“By that time, we should have the bulk of our 2021 assay data back, which will allow us to plan some big RC and diamond drilling programs in the months ahead.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@greatboulder.com.au

 

Web: www.greatboulder.com.au

 

Altech Chemicals Launches Silumina Anodes Product Name

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THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) has registered the product name Silumina AnodesTM for the company’s alumina coated composite silicon/graphite lithium-ion battery anode material.

From test work results, Altech expects its Silumina AnodesTM product to provide for the manufacture of battery anodes, that when incorporated into a lithium-ion battery, will result in a battery with higher energy retention capacity by volume and weight compared to a battery using a graphite only battery anode.

The key differentiation point of Silumina AnodesTM is that it will be a composite material of silicon and graphite particles that have been coated with alumina, using Altech’s proprietary alumina coating technology.

Altech’s laboratory test work demonstrated lithium-ion batteries using an anode comprised of composite graphite and silicon particles coated with alumina, improved battery energy capacity, energy retention, life and performance when compared to using a graphite only anode.

In November 2021, Altech achieved a breakthrough when its R&D team “cracked the silicon barrier”, producing lithium-ion battery anode materials with approx. 30 per cent higher energy retention capacity compared to conventional graphite only lithium-ion battery anode material.

The need to increase lithium-ion battery energy density and reduced cost has been a hurdle the lithium-ion battery industry has long wanted to clear.

Silicon metal has been considered the most promising anode material for the next generation of lithium-ion batteries, but, until now was unable to be used in commercial lithium-ion batteries.

Altech’s potentially game changing technology has demonstrated that silicon particles can be modified to resolve capacity loss caused by swelling and first-cycle-loss capacity.

Phase 2 of Altech’s planned R&D program will see the company strive to improve on the 30 per cent energy increase achieved in the first phase.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@altechchemicals.com

 

Web: www.altechchemicals.com

 

Prodigy Gold Gleans High-Grade Intercepts from Historical Golden Hind Diamond Core

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THE DRILL SERGANT: Prodigy Gold (ASX: PRX) produced new numbers from sampling of previously un-sampled historical diamond core on the company’s Golden Hind project in the Northern Territory.

Golden Hind forms part of the Old Pirate Mineral Resource Estimate that was last updated in August, 2016.

Prodigy Gold received results for two previously un-sampled historical diamond core drill holes at Golden Hind.

Both holes intersected mineralisation that has subsequently been mined out, however, the company said each hole had provided important new information, from which it expects to better predict possible mineralisation extensions and generate new drill targets.

Intercepts for the previously un-sampled holes include:

GHDD100001
22.5 metres at 25.2 grams per tonne gold from 11m, including 16.5m at 34g/t gold from 14m, including 0.9m at 347g/t gold from 19.1m; and

GHDD100002
21m at 0.8g/t gold from 3m, including 8m at 1.4g/t gold from 16m.

“The company is advancing its understanding on the previously reported 10,000 tonnes at 3.8 grams per tonne gold Golden Hind Mineral Resource (ASX: 19 Aug 2016),” Prodigy Gold exploration manager Edward Keys said in the company’s ASX announcement.

“The recently completed sampling program analysed core from two historically drilled diamond core holes to assist with possible future modelling and drill targeting in the area.

“This is a material result due to the low number of holes in this part of the deposit.

“The two holes were drilled in 2012 prior to the area having been mined out in 2013-2016.

“The 2012 drilling, with results presented herewith, include 105.3 metres of previously un-sampled drill core with significant mineralisation (>0.5g/t Au) returned over 47.6 metres, or greater than 45 per cent of the total metres assayed.

“Mineralisation occurs over sheared zones in the oxidised zone including multiple steeply dipping veins.

“The additional results broadly support the historically mined resource with mineralisation intersected where predicted and previously reported in historical RC drilling.

“The diamond drilling intersected high grade mineralisation in oxidised rock with visible gold in veining.

“The result of 22.5 metres at 25.2 gras per tonne gold from 11 metres in GHDD100001 is an example of the high-grades that occur within the previously mined Golden Hind Mineral Resource.

“The re-evaluated historical drill core will allow the geologists to better assist with an explanatory or predictive model to target possible extensions to mineralisation in future drilling campaigns.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@prodigygold.com.au

 

Web: www.prodigygold.com.au

 

Black Cat Syndicate Increases Majestic Resource

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THE DRILL SERGANT: Black Cat Syndicate (ASX: BC8) announced an update to the JORC 2012 Mineral Resource for the Majestic mining Centre at the company’s Kal East gold project, near Kalgoorlie in Western Australia.

Black Cat Syndicate conducted drilling at the Majestic Mining Centre in the second half of 2021 focussed on upgrading the underground Resource from Inferred to Indicated ahead of a planned maiden Ore Reserve to be released in the March 2022 quarter.

The results have increased the Underground Indicated Resource at Majestic Mining Centre by 43 per cent to 1 million tonnes at 4.5 grams per tonne gold for 143,000 ounces.

Total Resources at the Majestic Mining Centre have increased to 7.9 million tonnes at 2g/t gold for 507,000 ounces while Black Cat’s total Resources at Kal East have grown to 18.3 million tonnes at 2.2g/t gold for approx. 1.27 million ounces.

High-grade lodes in the Majestic underground remain open down plunge and will be drilled from underground positions after the commencement of mining.

“Our Resources continue to grow in size and confidence with maiden Ore Reserves expected in the March 2022 quarter,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Good progress continues with government approvals.

“The only outstanding permit required for mine development and mill construction is the tailings storage facility mining proposal, which is also anticipated this quarter.

“We expect the planned Majestic underground to be a high-grade, long term producer in the shadow of the mill.

“After mining has commenced, continued Resource growth is expected from underground drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@bc8.com.au

 

Web: www.blackcatsyndicate.com.au

 

Cygnus Gold Reports High-Grade Silver, Lead and Zinc Samples at Bonnie Rock

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THE DRILL SERGEANT: Cygnus Gold (ASX: CY5) announced high-grade silver-lead-zinc rock chips from the company’s Bonnie Rock project, located within the Youanmi Terrane of the Yilgarn Craton in Western Australia.

Cygnus Gold has named Bonnie Rock as a priority target with immediate follow up work planned for February.

Highlights from recent activity at Bonnie Rock include field reconnaissance rock chips confirming silver-lead-zinc mineralisation over 1.2 kilometres of strike that remains open.

Results include samples grading up to 89 grams per tonne silver, 3 per cent lead and 6.7 per cent zinc.

These results align with the company’s limited early-stage historic exploration drilling over the area that produced grades of up to 760g/t silver, 1.9 per cent lead and 1.7 per cent zinc.

“We are very pleased to be progressing exploration activities across the Cygnus tenement holding with a number of exciting early-stage results received from the field work to date,” Cygnus Gold executive chairman Raymond Shorrocks said in the company’s ASX announcement.

“There is a significant volume of assays still pending which the company is looking forward to receiving over the coming weeks.

“We have already started follow up on groundwork based on what we have already seen in the field.

“This terrane, the Southwest Yilgarn, has been overlooked for too long and only since Chalice Mining’s Julimar nickel and PGE discovery has the focus come back to the region.

“Cygnus with its 2,100 square kilometres tenement package is in a great position to explore its highly prospective tenure and uncover value within this region.”

 

 

 

Email: info@cygnusgold.com

 

Web: www.cygnusgold.com