New World Resources Prepares Maiden Antler MRE

/in , /by

THE DRILL SERGEANT: New World Resources (ASX: NWC) reported a maiden JORC Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Antler copper deposit in Arizona, USA.

New World Resources had the MRE prepared by an independent consultant that at a 1 per cent copper-equivalent cut-off, comprises:

7.7 million tonnes at 2.2 per cent copper, 5.3 per cent zinc, 0.9 per cent lead, 28.8 grams per tonne silver and 0.18g/t gold (7.7Mt at 3.9% copper-equivalent).

The company declared a high-level of confidence in the resource, with 74 per cent of the mineralisation classified in the Indicated category giving rise to potential for conversion to Ore Reserves.

“We are extremely pleased to have exceeded our expectations for both the tonnes and the grade of our maiden JORC Mineral Resource Estimate for the Antler copper deposit,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“With 74 per cent of the Resources classified in the “Indicated” category, and the Resource holding together really well at increasingly rigorous cut-off grades, we are confident we have a very sizeable and robust resource that is likely to underpin development of a high-grade mining operation that should have a long and profitable life, regardless of metal prices.

“But we also see that there’s a lot more mineralisation to be discovered at Antler.

“So, while we work to advance the project to production as quickly as practicable, we’ll concurrently work on expanding the Resource as quickly as possible – as these should both be huge value drivers.”

Based on the above and results to date, New World considers there to be potential for Resource expansion and so has set a new Exploration Target, which is to endeavour to expand the MRE at the Antler deposit in the next 9-12 months to around 10-12Mt of high-grade mineralisation at grades between 3-4 per cent copper-equivalent.

The company sees potential for further Resource growth beyond that and in order to convert this Exploration Target into JORC Mineral Resources, three drill rigs are continuing to operate at the project targeting extensions.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@newworldres.com

 

Web: www.newworldres.com

 

Wayne Rossiter Eastern Metals (ASX: EMS) November 2021

/in /by

Eastern Metals’ (ASX: EMS) managing director and CEO Wayne Rossiter zoomed into The Resources Roadhouse to tell Wally Graham how the recently-ASX-listed company intends to attack its portfolio of projects stretching from the Northern Territory through the Cobar region of New South Wales.

Legend Mining Advances Rockford Project

/in , /by

THE DRILL SERGEANT: Legend Mining (ASX: LEG) released results of recent exploration activity across the company’s Rockford project in the Fraser Range of Western Australia.

Legend Mining announced initial results of diamond drilling at the Crean, Hurley, and Northerly prospects, an MLTEM survey at Northerly and regional aircore drilling undertaken across the Rockford project.

Legend’s recent regional exploration was carried out on tenements E28/1718, E28/1727, and E28/2404, which contain the Crean, Northerly, and Hurley prospects that have been identified by the company as favourable nickel-copper-cobalt targets via systematic exploration utilising aircore drilling and innovative MLTEM surveys.

The company reported that diamond drilling has confirmed the Crean, Hurley, and Northerly prospects are prospective orthomagmatic nickel-copper intrusive hosts, comparable to the Nova-Bollinger and Silver Knight deposits in the Albany-Fraser Belt.

 

LEGEND MINING MANAGING DIRECTOR MARK WILSON SPOKE WITH THE RESOURCES ROADHOUSE AT THE SOUTH WEST CONNECT ASX SHOWCASE

 

 

 

 

Legend indicated future work programs at Crean, Hurley, and Northerly will include assessment of geological, geochemical, geophysical, and structural results from completed diamond drilling, followed by planning of extensive aircore drilling, innovative MLTEM/FLTEM, and targeted diamond drilling.

These programs will be designed to define the target intrusion geometry at each prospect, as well as to identify and target mineralisation through systematic exploration, with the aim to discover multiple economic nickel-copper sulphide accumulations.

“Our field team have done an exceptional job to execute these programs with the industry wide labour difficulties being experienced under the current border travel restrictions,” Legend Mining managing director Mark Wilson said in the company’s ASX announcement.

“The early success from the new Northerly prospect is particularly pleasing with anomalous geochemistry indications from aircore, sulphides in intrusive host rocks observed in diamond drill core and a large shallow conductor from the MLTEM survey.

“The significance of all of these programs will be better understood once all assays and analysis of the results are collated.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.legendmining.com.au

 

Codrus Metals RC Drilling at Red Gate Gold Project

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) has commenced Reverse Circulation (RC) drilling at the company’s Red Gate gold project, just north of Kalgoorlie in Western Australia.

Codrus Minerals is focussing on targets identified by Blackstone Minerals and other previous tenement holders on the Porphyry North gold prospect.

The earlier work had provided Codrus with three chargeable bodies of interest, namely:

PN1 – a shallow, moderately chargeable body coincident with the known and well-drilled Porphyry North gold mineralisation;

PN2 – a moderately chargeable, resistive body partly coincident with the reconnaissance drilled Porphyry West prospect; and

PN3 – a deep, broad moderately chargeable, resistive body at a depth of 300–400m to the south-west and possibly loosely connected with Porphyry West. This poorly constrained anomaly is now referred to as the Arieta target.

“Historical work programs at the Red Gate project have indicated strong potential for the project to host significant mineralisation,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“We’re delighted to now have our maiden program of 2,500 metres of RC drilling underway, with the results expected to deliver an important insight into several of the key anomalies at Red Gate to assist with ongoing targeting.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au

 

Alto Metals Drills Multiple High-Grade Vanguard Gold Intercepts

/in , /by

THE DRILL SERGEANT: Alto Metals Limited (ASX: AME) reported further gold results from a recently completed major RC and diamond drilling program at the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Alto Metals achieved the results from extensional and step-out drilling at the Vanguard Camp and Indomitable Camp deposits, located approximately 8 kms and 12 kms respectively from the Lords Corridor within the project.

Drilling at Vanguard and Vanguard North prospects is targeting extensions of high-grade mineralisation along the two parallel trends and the ‘linking structures’ between the two trends.

Results received from the Vanguard Camp returned multiple high-grade gold intercepts, outside the current resource, including:

SDD015 – Vanguard
30m at 3 grams per tonne gold from 87m, including 1m at 18.3g/t gold from 107.2m;

SDD016 – Vanguard
7m at 4.5g/t gold from 56m, including 2.3m at 12.4g/t gold from 60m and 16m at 1.4g/t gold from 90m, including 1.4m at 6.96g/t gold from 101.6m;

SDD017 – Vanguard
1m at 11.6g/t gold from 52m; and

SRC480 – Vanguard North
2m at 20.8g/t gold from 102m.

“We are excited to have confirmed so far mineralisation within two parallel trends along a two-kilometre strike length with high-grade gold over 10 grams per tonne in multiple drill holes and all outside the current resource,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“The final assay result from SRC286 is a standout returning over 147 grams per tonne and highlights the exceptional grade that can be found within these quartz-rich laminated shear veins we have at Vanguard.

“A key takeaway from today’s announcement is that our systematic approach to exploration is continuing to deliver strong results for shareholders.

“We still have over 80 RC holes pending and we look forward to updating the market with from further results in the coming weeks.

“The Lords Corridor, Vanguard and Indomitable firmly remain our priority focus as we look to grow the resources.

“However, in time, we are very much looking forward to applying the same methodical approach to unlock the value from the numerous other regional targets within our 900 square kilometres of the Sandstone gold project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@altometals.com.au

 

Web: www.altometals.com.au

 

Global Lithium Resources Granted New Marble Bar Landholding

/in , /by

THE BOURSE WHISPERER: Global Lithium Resources (ASX: GL1) has had tenements E45/5843 and E45/5812 granted, increasing the land position of the company’s Marble Bar Lithium Project (MBLP) by more than 91 square kilometres.

The tenements are located immediately to the north and east of the project’s Archer deposit and are prospective for lithium bearing pegmatites.

Global Lithium said it was looking forward to commencing exploration in the area as it ramps up activities at the MBLP following completion of a recent $13.6 million equity raising and introduction of Yibin Tianyi Lithium Industry Co Ltd (Yibin Tiianyi) as a cornerstone investor.

 

THE RESOURCES ROADHOUSE SPOKE WITH GLOBAL LITHIUM NON-EXECUTIVE CHAIR WARRICK HAZELDINE AT THE SOUTH WEST CONNECT ASX SHOWCASE

 

 

 

 

The company thanked the Nyamal Aboriginal Corporation (NAC) for working with it to enter into agreements enabling a pathway to exploration of these tenements in a constructive manner, adding that it looks forward to continuing to build the relationship over time.

“Global Lithium continues to deliver on the strategy set out when we listed on the ASX earlier this year,” Global Lithium Resources managing director Jamie Wright said in the company’s ASX announcement.

“The grant of these tenements is an important step for the company to continue to investigate the size potential for the MBLP, particularly given our current geological model which indicates potential for lithium bearing pegmatites in this new area.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@globallithium.com.au

 

Web: www.globallithium.com.au

 

Horizon Minerals Updates Cannon Gold Resource

/in , /by

THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) has updated the Mineral Resource Estimate (MRE) for the company’s Cannon gold project, located outside Kalgoorlie-Boulder in Western Australia.

Horizon Minerals acquired the high-grade Cannon underground gold project as part of its recent Bulong South, Glandore and Cowarna project acquisition.

Cannon is now one of six core open pit and underground satellite gold projects Horizon Minerals is advancing to complement the baseload Boorara gold project as part of a consolidated Feasibility Study to deliver a minimum five-year initial mine plan and underpin the establishment of a stand-alone centralised processing facility at the Boorara mine site.

Horizon conducted a review of all geological, engineering, and metallurgical data of a Mineral Resource Estimate and Ore Reserve that had been generated by previous owners.

An Independent Mineral Resource estimate compiled for Cannon and stands at:

232,000 tonnes at 4.29 grams per tonne gold for 32,070 ounces at a 1g/t gold lower cut-off grade.

Over 89 per cent of these ounces are in the Indicated Resource category.

Horizon’s total Mineral Resource now stands at:

20.73 million tonnes at 1.72g/t gold for approx. 1.15 million ounces with 77 per cent sitting in the Measured and Indicated categories.

“The recently acquired Cannon underground gold project presents a near-term development opportunity and lies just 10 kilometres on existing roads from the proposed Boorara mill site being assessed as part of the consolidated Feasibility Study,” Horizon Minerals managing director Jon Price said in the company’s ASX announcement.

“The project has the potential to provide high grade ore early in the production profile with significant growth potential down plunge and along the Cannon shear zone and we look forward to completing the underground mining studies and updated Ore Reserve in the current December Quarter.

“Target generation for resource growth and new discoveries along the Cannon shear zone and within the Glandore and Cowarna project areas is also well advanced with surface drilling planned for the March Quarter 2022 with depth extensions to be tested from underground during the mining cycle.”

 

 

 

Email: info@horizonminerals.com.au

 

Web: www.horizonminerals.com.au

 

Predictive Discovery Extends Bankan Gold Zone

/in , /by

THE DRILL SERGEANT: Predictive Discovery (ASX: PDI) used capital letters to announce new results from exploration drilling at the company’s Bankan gold project, located in Guinea.

Predictive Discovery received assays from two diamond holes completed at the NE Bankan deposit that extended the high-grade gold zone 50m below the US$1800/oz optimised Mineral Resource pit shell.

Best results include:

BNERD0097
24.2 metres at 8.8 grams per tonne gold from 463.8m, including 12.4m at 15.3g/t gold from 465.6m; and

BNERD0098
50m at 2.4g/t gold from 448m, including 15m at 4.9g/t gold from 449m, and 10m at 1.9g/t gold from 544.6m.

The diamond drilling is ongoing at NE Bankan with two multi-purpose drill rigs currently drilling holes at depths between 80m and 130m below the pit shell.

Predictive indicated that the extensional drilling of the high-grade zone has further demonstrated potential to add to the company’s maiden Resource of 3.65 million ounces at 1.56g/t gold.

“These new results have confirmed the company’s belief that, as the shear zone is intercepted below the optimised Resource pit shell, the high-grade mineralised zone continues to depth,” Predictive Discovery managing director Paul Roberts said in the company’s ASX announcement.

“With every new high-grade intersection below the existing open pit shell, the underground potential becomes clearer.

“NE Bankan shares the best qualities of tier-1 deposits, namely outstanding grades and widths combined with excellent mineralisation continuity.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@predictivediscovery.com

Web: www.predictivediscovery.com

 

Venture Minerals Delineates Large Conductor via Downhole EM

/in , /by

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported on a recently completed DHTEM survey at the Orcus prospect within the company’s Golden Grove North project in Western Australia.

Venture Minerals said the DHTEM survey at the Orcus prospect had delineated a large (500m long x 240m depth extent) conductor under high-grade zinc-copper-gold drill intersections that produced assays of up to 7.6 per cent zinc, 1.3 per cent copper, 2.2 grams per tonne gold an 22g/t silver, from the maiden drilling at the prospect.

This program had confirmed a VMS System with all three holes on the first drill line returning strong zones of VMS style mineralisation.

The DHTEM survey was undertaken on five drill holes, after to the second phase of exploration drilling had been put on hold after six diamond core holes were completed earlier this year.

Venture also completed a ground based Moving Loop Electromagnetic (MLEM) survey that identified three additional priority conductors within the Neptune Volcanic Massive Sulphide (VMS) Target zone.

“Further EM work has continued to highlight the exciting exploration potential of Venture’s Golden Grove North project which is well positioned being along strike to 29M’s world class Golden Grove zinc-copper-gold mine,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“A large conductor under high-grade zinc-copper-gold drill intersections at Orcus remains untested and presents an exciting VMS discovery opportunity to be drill tested in the near future.

“Meanwhile the Neptune VMS Target Zone, though still in the early stages of exploration, is suitably located immediately along strike from the Golden Grove Mine.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Saturn Metals Achieves Highly Encouraging Metallurgical Results at Apollo Hill

/in , /by

THE DRILL SERGEANT: Saturn Metals Limited (ASX: STN) reported results from metallurgical test work on samples of mineralised material collected from RC drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Saturn Metals provided a comprehensive list of results from the recent work that included:

Exceptional Overall Recovery from Free Milling Gold
Excellent overall gold recovery of 96.8 per cent was obtained at typical commercial grind sizes (75 micron) in intermittent bottle roll tests (IBRT) and bulk leach extractable gold (BLEG) tests of RC samples for Apollo Hill’s major material typesb and across the deposits full grade range.

Major Gravity Gold Component
The average gravity component of the overall recovery was a very high 65.9 per cent demonstrating the potential for efficient physical processing and lower reagent usage.

First Rate Recovery for Lower Grade Samples
Gold recovery is consistently high across the full grade range (recovery of 97 per cent noted for key rock types grading only 0.24g/t). This indicates the capacity for recovery from material which would normally be considered more marginal and importantly raises the potential for the use of lower cut off grades in resource calculations.

Easy Liberation
At a coarse commercial grind size of 250 micron, average gold recovery was still impressive at 91.3 per cent and the gravity component was very strong at 56 per cent.

Lower Capital and Process Route Optionality
Even at a 2mm crush, average gold recovery was an excellent 80.3 per cent, with strong gravity recovery 47.8 per cent showing the potential for other lower capital and simple processing methods such as early recovery of gold through screening with gravity recovery, vat leach and/or heap leach techniques.

Saturn recently completed a four-hole metallurgical diamond drill program to provide additional material for the next phase of test work already underway.

This work is focussing on mill-based grind size and recovery optimisation, and heap/vat leach metallurgical processing alternatives.

Saturn indicated the results already achieved, combined with results of the ongoing metallurgical drill core test work, will provide important cost information for open pit optimisation studies, used as part of a planned early 2022 resource upgrade, alongside the results of Saturn’s 2021 drilling campaigns.

“These excellent results, from a comprehensive, representative, and importantly well-behaved sample set, complement, and back up earlier metallurgical test results and provides a significant weight of evidence for simple cost-effective mineral processing scenarios at Apollo Hill,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“The metallurgy of Apollo Hill is a great differentiator.

“It gives the deposit strong mineral processing and capital optionality and arguably an economic head start.

“We plan to utilise these results, and the results of our ongoing diamond drill core metallurgical test program, to examine the potential for economies of scale in our next planned resource upgrade in early 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au