Saturn Metals Raises $8M to Advance Apollo Hill

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THE BOURSE WHISPERER: Saturn Metals (ASX: STN) has made exploration at the company’s 100 per cent-owned Apollo Hill gold project near Leonora in Western Australia a smidge easier by way of an $8 million raising.

Saturn Metals said the funds would enable it to continue resource definition, exploration drilling and metallurgical and other pre-development studies at Apollo Hill.

Drilling undertaken at Apollo Hill to date has exposed a wide mineralised corridor over a 3.5km strike length, including results in the North of the deposit where the current drill program is underway following up on earlier encouraging results.

A further resource upgrade is anticipated to be ready for the March quarter 2022, incorporating results from drilling Saturn has conducted since January 2021, when the resource estimate was last updated, and incorporating results from the company’s current metallurgical program.

“Saturn is delighted with the level of support shown in this successful raising,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“This puts the company in an excellent position to continue to expand the boundaries of our Apollo Hill gold system.

“Drilling this year has seen multiple strong intersections extending beyond the previous resource boundary.

“Higher grades within a lengthening mineralised corridor show the potential for next level discovery and a much bigger opportunity.

“In addition, this raising enables the company to fund other exciting activities in our exploration portfolio and step up our production orientated studies.

“With a healthy balance sheet, a strengthened register, and a robust resource and exploration base from which to grow, I look forward to delivering the results flow and an exciting year ahead for Saturn Metals and its shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

Jamie Wright Global Lithium Resources (ASX: GL1) November 2021

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Global Lithium Resources (ASX: GL1) recently notified the market of gold potential at the company’s Marble Bar Lithium Project in Western Australia. Global Lithium managing director Jamie Wright zoomed into The Resources Roadhouse to provide Wally Graham with a few details.

Cameron McLean Great Northern Minerals November 2021

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Great Northern Minerals (ASX: GNM) has been busy of late at the company’s suite of gold projects in North Queensland. Great Northern managing director Cameron McLean zoomed into The Resources Roadhouse to bring Wally Graham up to speed on the company’s progress.

Metal Hawk Hits High Gold Grades at Kanowna East

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THE DRILL SERGEANT: Metal Hawk (ASX: MHK) reported assay results from the first reverse circulation (RC) drilling program undertaken at the company’s Kanowna East project in the West Australian goldfields.

Metal Hawk drilled 12 RC holes for a total of 1,325 metres, designed to bedrock-test a number of broad gold anomalies from recent aircore (AC) drilling at the Little Lake and Western Tiger prospects.

At Little Lake, six RC holes were drilled, hitting new gold intercepts, including:

KERC012
4m at 17.8 grams per tonne gold from 75m, including 1m at 42.7g/t gold from 76m; and

KERC010
1m at 2.9g/t gold from 66m and 5m at 0.52g/t gold from 100m.

Five RC holes were completed at the Western Tiger prospect, following-up high-grade gold intersected in AC drilling in April 2021, returning:

KERC003
2m at 1.45g/t gold from 73m and 5m at 1.59g/t gold from 80m;

KERC004
1m at 1.42g/t gold from 75m;

KERC005
5m at 1.95g/t gold from 70m; and

KERC006
5m at 1.09g/t gold from 69m Including 2m at 1.54g/t gold from 69m.

“Our first RC drilling program at Kanowna East has further highlighted the potential of this gold project,” Metal Hawk managing director Will Belbin said in the company’s ASX announcement.

“Following the company’s nickel sulphide discovery at Berehaven and the successful capital raising in October, the company is very well positioned to continue delivering exploration success across its highly prospective gold and nickel projects.”

Metal Hawk indicated its next stage of RC drilling will follow up the new gold intercepts at Little Lake and Western Tiger and will further explore the poorly tested Archaean bedrock for gold mineralisation.

 

 

Email: admin@metalhawk.com.au

 

Web: www.metalhawk.com.au

 

 

Hamelin Gold Commences West Tanami Exploration

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THE DRILL SERGEANT: Recently-listed Hamelin Gold (ASX: HMG) announced the commencement of exploration activities at the company’s West Tanami gold project in Western Australia.

Hamelin Gold has started proceedings with a detailed airborne magnetic and radiometric survey over the eastern third of the West Tanami project, including the recently granted Fremlins exploration license.

The company will merge data from this survey with other available geophysical datasets to provide the first ever complete coverage of detailed magnetics across the West Tanami project.

“The completion of this survey will provide magnetics with at least 100 metre flight line spacing across the entire project area,” Hamelin Gold said in its ASX announcement.

“This key baseline dataset is an essential ingredient to be used in the upcoming ‘whole of project’ target generation and assessment program which will provide a pipeline of ranked exploration opportunities and targets across the West Tanami.”

Hamelin also has preparations underway for planned drilling programs at West Tanami including receipt of approved POWs, confirmation of earthworks contractor and finalisation of RC and diamond drilling contractors.

Drilling activities in the West Tanami are scheduled to begin in late Q1 2022 following the Summer wet season with diamond drilling planned at the Camel, Bandicoot, Quenda, Fremlins and Mojave prospects.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: contact@hamelingold.com.au

 

Web: www.hamelingold.com.au

 

Ardiden Permitted for Esker Drilling

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THE DRILL SERGEANT: Ardiden (ASX: ADV) received permitting from Ontario Mines Department for exploration drilling to commence at the Esker gold prospect situated on the Western Hub of the company’s Pickle Lake gold project in Canada.

Ardiden has a 4,000m diamond drilling program planned and fully funded to test gold bearing structures at the Esker gold prospect that is situated four kilometres directly along strike of Barrick’s historic Golden Patricia gold mine.

“The process to receive approvals has been arduous and taken much longer than we had hoped due to COVID-related delays and protracted Mines Department processing,” Ardiden managing director and CEO Rob Longley said in the company’s ASX announcement.

“Our persistence has paid off and we can now begin to evaluate the gold discovery potential of Ardiden’s massive land holding.

“While waiting for the permits, we actively used the time to continue geophysical interpretations, flying high resolution Lidar over the project.

“This drill program at Esker is Ardiden’s first step onto the Western Hub and will be the first drilling along these highly prospective and under-explored structures in nearly 30 years.

“We look forward to a solid year of drilling at Pickle Lake in 2022 and the associated newsflow.”

The Pickle Lake gold project is a continuous District-Scale land tenure package of 870 square kilometres that contains at least 22 identified gold deposits and prospects that Ardiden is systematically exploring.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ardiden.com.au

 

Web: www.ardiden.com.au

 

Blackstone Minerals Inks Canadian Nickel Sulphide MoU

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) announced making a strategic investment in Flying Nickel Mining Corp, a subsidiary of Vancouver-based Silver Elephant Mining Corp. (TSX: ELEF, OTCQX SILEF) in Canada.

Blackstone Minerals explained that Flying Nickel intends to list on the TSX Ventures Exchange (TSX-V) in early 2022 with its core asset being the Minago nickel sulphide project located southwest of Thompson in Manitoba, Canada.

Minago has a NI 43-101 compliant Measured and Indicated Resource of 44.23 million tonnes at 0.74 per cent nickel for 721.6 million pounds nickel, and Inferred resource of 19.55 million tonnes at 0.74 per cent nickel for 318.9 million pounds nickel.

The company described Minago as an advanced stage development asset with district scale exploration potential and excellent access to infrastructure including renewable hydro power.

Blackstone’s initial investment of C$2.98 million will earn a 6.85 per cent interest in the common equity of Flying Nickel.

Blackstone and Flying Nickel have also entered a Memorandum of Understanding, under which the companies will collaborate on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and / or joint ventures to meet demand from the growing electric vehicle battery industry.

“The known mineral endowment of the Minago asset in combination with the potential of the Ta Khoa district represents enviable scale, being highly sought after by OEMs, battery and cathode manufacturers,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Large, disseminated nickel sulphide deposits of the size and grade of the Minago asset are difficult to find.

“The ongoing structural evolution of nickel supply chains and increasing demand for downstream nickel chemical products for the lithium-ion battery industry, is driving a unanimous view by analysts and the broader investment community that higher nickel prices are here to stay for longer.

“This means that large undeveloped opportunities such as Minago are primed to overcome previous barriers, including access to capital.

“The Flying Nickel Transaction provides Blackstone with opportunity to collaborate on the development of Minago, and confidence to inject future equity into the asset as it is progressively de-risked.

The Ta Khoa Refinery in Vietnam is a logical home for Minago concentrate.

“Manitoba, like Northern Vietnam is blessed with access to renewable hydro power.

“Shipping a high-grade concentrate minimises carbon footprint and is aligned with Blackstone’s commitment to best ESG practices and ambition to become a supplier of choice to the electric vehicle battery industry.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Thor Mining Drills Wide Mineralised Intercept at Molyhil Project

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THE DRILL SERGEANT: Thor Mining (ASX: THR) reported on recent drilling undertaken at the company’s Molyhil tungsten-molybdenum-copper project in the Northern Territory.

Thor Mining announced that the second hole in its current diamond drilling program (21MHD002) intercepted scheelite, molybdenite and chalcopyrite mineralisation within a magnetite skarn, at the Molyhil tungsten-molybdenum-copper project.

The company said that 21MHDD002 had intercepted over 45 metres of disseminated scheelite-molybdenite-chalcopyrite mineralisation in a massive magnetite-rich skarn.

Thor said the drilling has confirmed the recently identified magnetic target to the south of the Molyhil deposit to be a continuation (or possibly offset) of the Molyhil deposit tungsten-molybdenum-copper mineralisation.

Based on the results achieved by the second drillhole, a third hole is now underway, designed to target the projection of the 21MHDD002 mineralisation down plunge.

“Testing a new geological concept, in this case an interpreted magnetic target from 3D modelling to the south of existing mineralisation, has paid off significantly,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.

“The tungsten-molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model.

“The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: corporate@thormining.com

 

Web: www.thormining.com

 

Tesoro Resources Hits Multiple Gold Intercepts at Ternera East

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THE DRILL SERGEANT: Tesoro Resources (ASX: TSO) reported assay results from drilling at the Ternera gold deposit and the Ternera East discovery, located at the company’s El Zorro gold project in Chile.

Tesoro Resources is aiming to expand the existing Ternera Mineral Resource of 660,000 ounces of gold it reported in July 2021.

Tesoro received assays for eight diamond drill holes completed as part of the current extensional and infill drilling program at El Zorro as well as results for four holes drilled at the Ternera East discovery.

All reported holes intercepted multiple zones of gold mineralisation, confirming the potential of additional gold resources to be added that are located well outside of the existing Mineral Resource Estimate model.

“The results from Ternera East are very encouraging as we can now link zones of previously drilled gold mineralisation both up and down dip as well as along strike, confirming the presence of an extensive gold zone,” Tesoro Resources managing director Zeff Reeves said in the company’s ASX announcement.

“This area is important to us as any gold resources defined to the east of the main Ternera deposit have the potential to materially affect the economics of open pit mining at Ternera.

“We’ve obviously got plenty of drilling to do to delineate this area adequately, but these early results are very promising.”

Drilling is ongoing at El Zorro, focussing on infill and extensional areas at Tenera, along with drilling at additional targets Ternera East, Drone Hill and Toro Blanco.

Tesoro is currently awaiting results from 42 diamond drill holes previously completed as part of this program and will report these results as they become available.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@tesororesources.com.au

 

Web: www.tesororesourcescom.au

 

Ozz Resources Releases Maiden Maguires Resources

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THE DRILL SERGEANT: Ozz Resources (ASX: OZZ) announced a maiden JORC 2012 Code-compliant reportable Indicated and Inferred Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Maguires gold project near Cue in Western Australia.

Ozz Resources reported the MRE for Old prospect, based on an initial RC drilling program completed in August, at 312,000 tonnes at 2.15 grams per tonne gold for 22,000 ounces of contained gold.

“This represents a great start to our plans to establish a significant resource inventory across our portfolio of projects in the Cue/Meekatharra area – a highly-endowed and very active mining district in Western Australia,” Ozz Resources managing director Jonathan Lea said in the company’s ASX announcement.

“We have been able to deliver a solid, near-surface gold Resource containing around 22,000 troy ounces at an attractive grade after just one drilling program.

“Importantly, the mineralization remains open both along strike and down-dip, with excellent potential to grow the Resource with further drilling.

“There is also significant potential in the parallel Maguires Reward structure.

“We are planning further exploration and drilling programs across all our projects in the district to grow our Resource inventory, with further drilling planned at Maguires in early 2022.”

The company has been encouraged by its work to date and believes there to be potential to extend the mineralisation in all directions, Stage 2 drilling is being planned.

Two known mineralised zones within the Maguires project are approximately 200m apart and within this untested gap zone Ozz considers there to be considerable potential for identifying additional mineralised shoots.

The only drilling to date in this zone is historic shallow RAB drilling. Additional follow-up drilling will also be planned to test the Maguires Reward prospect (1km to the west of Old prospect on a parallel structure) to follow up the historic drill result of 4m at 19.2g/t gold.

The structure hosting Maguires Reward extends over a strike length of 1km in a similar structural setting to the Old prospect.

Drilling will be planned to test the entire strike length, book-ended by the old workings at Maguires North and Olivers Patch to the south.

 

 

Email: admin@ozzresources.com.au

 

Web: www.ozzresources.com.au