Encounter Resources Expands BHP Northern Territory Partnership

/in , /by

THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) has expanded its formal Farm-in and Joint Venture Agreement with BHP covering the Elliott copper project in the Northern Territory.

Encounter Resources said the expansion will increase the size of the Elliott farm in from 4,500 square kilometres to 7,200sqkm while the earn-in amount for BHP to earn a 75 per cent interest has been increased from $22 million to $25 million.

Recent datasets provided by the Northern Territory Geological Survey and Geoscience Australia as part of the Exploring for the Future Program, have provided crucial new data to facilitate exploration in what is a covered, highly prospective and underexplored region of Australia.

New datasets released in 2019 and 2020 supported the conceptual and structural targeting model at Elliott where a standout, copper-in-groundwater anomaly (order of magnitude above background) in the extensive sampling program is located.

A joint BHP / Encounter designed validation program at Elliott was completed earlier in 2021, which involved the compilation, interpretation, modeling and integration of new and existing data packages at Elliott including seismic, airborne EM, magnetics, gravity, gechemistry and hydro-geochemistry.

“Irrespective of the pace of global energy transition, new sources of copper supply are required in the medium term,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“Greenfields exploration success of globally significant, new resources at projects like Elliott is vital to meet burgeoning copper demand projections.

“Encounter identified the Greater McArthur Superbasin in the NT as having significant untested potential for the discovery of large sediment-hosted copper deposits under shallow cover and we now control an extensive portfolio in the region.

“Through our portfolio of 100 per cent-owned copper projects, and an expanded partnership with BHP, Encounter provides exceptional leverage to the premium front end of the copper value chain.

“We are delighted to be working with BHP at Elliott and we look forward to providing shareholders with further updates on the groundbreaking search for Tier-1 copper deposits in the NT.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au

 

Auroch Minerals to Assess Nepean Pegmatites for Lithium Potential

/in , /by

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) has commenced sampling as part of the assessment of the lithium-caesium-tantalum (LCT) mineralisation potential at the company’s 80 per cent-owned Nepean project in Western Australia.

Auroch Minerals had previously identified pegmatite intrusions throughout the project area, including at the historic Nepean nickel mine itself, where multiple pegmatites intruded the mine sequence but were not historically assessed for any economic potential.

The company also identified an abundance of pegmatites via a recently-completed first diamond drill-hole into the Nepean Deeps target, which was designed to test for down-plunge extensions to the high-grade nickel sulphide mineralisation below the historic Nepean mine.

The drill-hole intersected 46 metres of komatiitic ultramafics over three lower intervals, which are considered prospective for nickel sulphide mineralisation.

The hole also intersected approximately 700 metres of pegmatite intrusions, including one 350m thick pegmatite in the hanging-wall below the historic nickel mine workings.

Auroch has now initiated sampling of the pegmatites from the diamond core to be submitted for assaying for lithium-caesium- tantalum (LCT) mineralisation.

“As we announced in February this year, there is significant potential across our tenure at the Nepean project for lithium-caesium-tantalum mineralisation within the many pegmatites identified, particularly in the northern areas where our tenements lie adjacent to known historic mines of lithium and tantalum at the Londonderry Pegmatite deposits,” Auroch Minerals managing director Aidan Platel said in the company’s ASX announcement.

“Our recently-completed maiden diamond drill-hole into the very promising Nepean Deeps nickel sulphide target has provided us with significant intervals of fresh pegmatite intrusions in drill core, and we have initiated sampling of these zones in order to test for potential LCT mineralisation.

“In parallel, the down-hole geophysical surveys of drill-hole NPDD008 are well underway and we are excited to see what targets they will potentially define to be tested by the ongoing Nepean Deeps diamond drill program.”

 

TO READ THE FULL ANNOUNCEMENT:

 

Email: admin@aurochminerals.com

 

Web: www.aurochminerals.com

 

Charger Metals Completes Flyover Investigation at Coates Project

/in , /by

THE CONFERENCE CALLER: Charger Metals recently listed on the ASX targeting battery-component and precious metals.

The company arrived with a portfolio consisting three projects, two in Western Australia and the third in Northern Territory.

The Coates nickel-copper-gold PGE project in WA (Charger 70%-85% interest) is approximately 20 kilometres SE of Chalice Mining’s Julimar nickel-copper-gold-PGE discovery.

Coates has SkyTEM anomalies, some with coincident nickel, copper, gold and PGE geochemistry anomalies that the company has identified as priority targets for further testing.

Charger just announced identification of a cluster of HEM anomalies at the priority Target 1 via a SkyTEM aerial survey.

The survey showed Target 1 consists of a cluster of 19 HEM anomalies that have been interpreted to form several parallel conductors extending over 1500 metres of strike length.

The Target 1 conductors sit immediately adjacent to magnetic features interpreted to be components of the Coates mafic intrusion.

The northern end of Target 1 has a nickel-copper-gold-PGE geochemistry anomaly, while the southern end of the target has previously not been tested.

Some of the other targets are less extensive but are considered good conductors by Charger and will be progressively further tested, including Target T8, which is highly conductive and along strike from the Target T1.

The second WA project, Lake Johnston lithium and gold project (Charger 70%-100%), includes the Medcalf spodumene discovery and much of the Mount Day lithium caesium tantalum (LCT) pegmatite field.

The region has attracted considerable interest for LCT Pegmatite mineralisation due to its proximity to the large Earl Grey lithium deposit (owned by Wesfarmers Limited and SQM of Chile), located approximately 70km west.

In the Northern Territory, the Bynoe lithium and gold project sits within the Litchfield Pegmatite Field.

The area has a history of tin mining and is demonstrably prospective for tantalum and alkali metals including spodumene, which are primarily hosted in LCT pegmatites.

The Bynoe project is surrounded by the extremely large tenement holdings of Core Lithium’s Finnis lithium project that is at a very advanced stage of development having had completed a definitive Feasibility Study in April 2019.

 

Email: info@chargermetals.com.au

 

Web: www.chargermetals.com.au

 

Podium Minerals Holds Rhodium and Iridium Aces at Parks Reef

/in , /by

THE CONFERENCE CALLER: Podium Minerals (ASX: POD) is exploring for platinum group metals, gold and base metals with the aim of developing the company’s 100 per cent-owned Parks Reef PGM project located within its mining leases in the Mid-West Region of Western Australia.

Podium Minerals recently completed drilling that led to the upgrading of the Resources at Parks Reef with contained metals increasing to a total of 2.2 million ounces of combined platinum, palladium and gold plus base metal credits with 79,000 tonnes copper.

The total Minerals Resources extend over approximately 15 kilometres of strike of Parks Reef and have now been defined to a depth of 100 metres below surface based on an assumption of bulk open-pit mining with PGM mineralisation open at depth.

The Resources include a high value Upper PGM Horizon of: 9.2 million tonnes at 2 grams per tonne 3E PGM and 0.17 per cent copper.

3E PGM refers to platinum plus palladium plus gold expressed in units of grams per tonne.

“The latest round of drilling included for the first time, significant drilling below 100 metres in the western sector and results to date have reinforced the sheer consistency and continuity of the Parks Reef PGM-gold-copper mineralisation,” Podium Minerals executive chairman Clayton Dodd said.

“In addition, it has also re-affirmed that high-grade primary PGM mineralisation is not uncommon within Parks Reef.

“Results from recent drill programs have refocussed Podium attention to high-grade zones along the Parks Reef strike.

“Understanding the controls and distribution of these reported high grade mineralised zones will be our priority with further follow-up drilling.”

The resource estimate did not, however, include the high value platinum group elements rhodium and iridium which occur throughout Parks Reef the company had previously reported.

In its June Quarterly report, Podium reported results that included rhodium and iridium hots of:

PRRC135
7m at 5.75 grams per tonne 3E PGM, 0.32g/t rhodium and 0.14g/t iridium from 89m, including 3m at 10.83g/t 3E PGM, 0.65g/t rhodium and 0.29g/t iridium from 89m, including 1m at 25.74g/t 3E PGM, 1.35g/t rhodium and 0.7g/t iridium from 91m; plus
11m at 1.25g/t 3E PGM, 0.08g/t rhodium and 0.03g/t iridium from 100m.

PRRC103
6m at 3.75g/t 3E PGM, 0.15g/t rhodium and 0.07g/t iridium from 142m, including 1m at 15.29g/t 3E PGM, 0.4g/t rhodium and 0.2g/t iridium from 142m.

Rhodium is regarded as the best catalyst for the aftertreatment of gasoline nitrogen oxides (NOx) emissions.

Iridium has an extremely high melting point and is the most corrosion resistant metal known.

It is commonly used as a hardening agent together with other PGM’s in particular, platinum.

While Podium has previously assayed selected holes for rhodium and iridium, there is currently insufficient drill data to include these platinum group elements into the Mineral Resources.

Podium plans to routinely assay for rhodium and iridium once the company moves to in-fill drilling for indicated resources.

It is expected that this will allow rhodium and iridium to be included within the Parks Reef Mineral Resources.

 

Email: info@podiumminerals.com

 

Web: www.podiumminerals.com

 

OZZ Resources Sets Early Running at Maguires Gold Project

/in , /by

THE CONFERENCE CALLER: OZZ Resources (ASX: OZZ) is shiney and new to the ASX, having just listed in July this year, bringing with it the intention of conducting an aggressive exploration program across its portfolio of projects.

The company is on the ground in the Central Murchison Region of Western Australia at the Maguires gold project.

Maguires includes three advanced prospects defined by previous drilling, with high-grade shoots contained in two shear zones.

OZZ recently completed a maiden 4,300m Reverse Circulation drilling program at Maguires, consisting of a 45-hole program targeting the Old Prospect, results from which determined two zones of mineralisation (Old Prospect North and South) which remain open along strike and at depth.

Best intercepts, included:

21MRRC003
14 metres at 2.66 grams per tonne gold from 45m;

21MRRC011
6m at 3.23g/t gold from 31m and 7m at 9.1g/t gold from 81m;

21MRRC032
7m at 4.5g/t gold from 46m;

21MRRC016
4m at 4.48g/t gold from 16m; and

21MRRC039
10m at 2.48g/t gold from 100m.

OZZ is now reviewing the results from the program, however given the encouraging results achieved the company considers there to be potential to extend the mineralisation in all directions, thus Stage 2 drilling will be planned.

The two known mineralized zones are approximately 200m apart and, within this untested gap zone, OZZ is looking for potential to identify additional mineralised shoots.

The only drilling to date in this zone is historic shallow RAB drilling.

“We are delighted with the success of our first drilling campaign, which marks a very bright start to our journey as a listed gold explorer,” OZZ Resources managing director Jonathan Lea said when reporting the results.

“The drilling was focused in and around the Old Prospect, which was last drilled by BHP and others in the 1980s and 1990s.

“The results have met or exceeded our expectations, returning some broad zones of strong, high-grade gold mineralisation including several standout intercepts such as 7m at 9.1g/t and 7m at 4.5g/t.

“Importantly, the mineralized intervals show correlation with the historic drilling, giving additional confidence that OZZ can advance rapidly towards resource definition following further drilling.

“The high-grade shoots represent a very attractive target for future drilling.

“In light of the success of this campaign, we are actively planning follow-up drilling to expand and increase the defined extent of the mineralisation at Maguires.

‘This next phase of work will also involve testing a parallel structure to the west which has had virtually no RC drilling.

“The data from that additional drilling should allow the calculation a maiden JORC Mineral Resource for Maguires, which could well become a strategic asset for the company given its location in the heart of a prolific mining district.”

 

Email: admin@ozzresources.com.au

 

Web: www.ozzresources.com.au

 

Tietto Metals Making Steady Progress on Abujar Gold Project

/in , /by

THE CONFERENCE CALLER: Tietto Metals (ASX: TIE) listed on the ASX in January 2018 with its eyes firmly on development of the Abujar gold project in Côte d’Ivoire, West Africa.

The Abujar gold project comprises three contiguous exploration tenements, Middle, South and North, covering a total land area of 1,114 square kilometres, of which less than 10 per cent has been explored.

Tietto wasted little time, hitting project with an aggressive.drill campaign that quickly grew gold Resources at Abujar to 87.5 million tonnes at 1.2 grams per tonne gold for 3.35 million ounces.

These included mineral resources for the AG deposit of 50.3 million tonnes at 1.5g/t gold for 2.45 million ounces; and

Mineral Resources for the APG deposit of 36.7 million tonnes at 0.7g/t gold for 0.87 million ounces.

These results increased indicated Resources by 49 per cent, taking them to 43.4 million tonnes at 1.3g/t gold for 1.85 million ounces of contained gold, representing more than 55 per cent of the current project ounces.

Tietto recently announced results of a Definitive Feasibility Study for the Abujar gold project, based on an open-pit 4 million tonnes per annum operation.

Highlights from the DFS included:

260,000 ounces of gold forecast in first year of production (30% increase over the PFS) at an AISC of US$651 per ounce;

2 million ounces of gold production forecast over first six years for 200,000 ounces per annum (20% increase over the PFS) at an average AISC of US$804/oz;

Updated Open Pit Probable Ore Reserves have grown to 34.4Mt at 1.3 g/t Au for 1.45Moz using US$1,407/oz (68% increase over the PFS and 78% of Indicated Mineral Resources); and

Life of Mine (LOM) mining inventory inclusive of Ore Reserves of 44.9 million tonnes at 1.2g/t gold for 1.7 million ounces gold recovered (54% increase over the PFS) for a strip ratio of 6:1 w:o;

Payback period post-tax of less than one year from first production.

“Our recent update to the Abujar Resource Model has allowed Tietto to deliver a DFS that confirms Abujar’s potential to be one of the largest gold producing mines in Côte d’Ivoire,” Tietto Metals managing director Dr Caigen Wang said on release of the DFS results.

“The DFS metrics are clearly compelling – all PFS measures have materially improved, from production to finance.

“Gold production in particular is positioning Abujar as a Tier 1 gold mine.

“We are confident the Abujar gold project will continue to enjoy growth in both Resources and Reserve and hence LOM production increases into next year through our continued large-scale drilling program.

“We are focused on advancing the Abujar gold project towards becoming West Africa’s next gold mine.”

Latest drilling at the AG deposit returned favourable results, including:

ZDD665 – Section 24A
22 metres at 5.62 grams per tonne gold from 97m, including 5m at 17.87g/t gold
2m at 59.77 g/t gold from 54m

ZDD685 – Section25A
6m at 17.01g/t gold from 61m, including 2m at 50.35g/t gold

ZDD671A – Section 24A
14m at 2.87g/t gold from 136m, including 4m at 9.19g/t gold

“Our third batch of results from our infill drilling program at Abujar is delivering up more high-grade gold intercepts that continue to de-risk open pit mining at Abujar,” Wang, said.

“The infill program is designed to convert Indicated Resources to Measured Resources, which are scheduled to be mined within the first two years of production.

“These impressive results follow hard on the heels of our DFS…that confirmed Abujar’s potential to be one of the largest gold producing mines in Côte d’Ivoire with more than 260,000 ounces of gold expected to be produced in the first year and 1.2 million ounces of gold in the first six years.”

 

Email: admin@tietto.com

 

Web: www.tietto.com

 

Cazaly Resources Spin Out to List on ASX

/in , /by

THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) announced that Tara French has transitioned into the role of managing director of the company.

French steps into the role at an important time for the company as it prepares for the proposed divestment of the jointly owned Hamersley Iron Ore Project and subsequent listing of spin ot company Equinox Resources (ASX: EQN).

Equinox Resources has been admitted to the Official List of the ASX with commencement of trade of its securities anticipated for launch at 10:00am (WST) on Wednesday, 13 October 2021.

The admittance of Equinox to the Official List of the ASX, follows completion of a $9 million initial public offering.

Equinox’s sole focus is on the exploration and development of the Hamersley Iron Ore Project, led by a dedicated Board and management team with plenty of iron ore experience.

“This is a great result for Cazaly as the Hamersley project now has the requisite funds to progress and be managed by a highly experienced team whose sole focus is the further development of the project,” French said in the company’s ASX announcement.

“We congratulate the Equinox Board on their ASX listing and look forward to the future advancement of the Hamersley project.”

 

TO READ THE FULL ANNOUNCMENT: CLICK HERE

 

Email: admin@cazalyresources.com.au

 

Web: www.cazalyresources.com.au

 

 

Kin Mining Rattles the Tin to Raise Exploration Funds for Cardinia Gold Project

/in , /by

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) is looking to maintain momentum at the company’s Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin Mining announced it will undertake a non-underwritten non renounceable 1-for-6.5 pro-rata Entitlement Offer to raise up to $12.92 million to progress the next phase of exploration at the company’s 100 per cent-owned Cardinia gold project.

The company said the proceeds would be used for its next phase of exploration across established and new prospects at the CGP, as part of an exploration-driven strategy to further expand the project’s 1.28 million ounces inventory and make new discoveries.

The next phase of systematic exploration work will follow up on new discoveries and targets identified as part of Kin Mining’s drilling campaigns completed during 2020 and 2021.

These include the Mt Flora and Iron King discoveries, as well as multiple new prospects that were identified as the company improved its understanding of the geology and potential of the CGP, such as the Eagle and Crow prospects.

“We’ve had considerable success converting our improving geological understanding into exploration results, and then converting those results into additional Mineral Resources,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“At Cardinia Hill, we have successfully added 106,000 ounces of new Mineral Resources, while the Bruno-Lewis Mineral Resource has been expanded by 20 per cent to 374,000 ounces.

“Our systematic approach to exploration has paid off in spades and given us a much better idea of where and how to target the next phase of drilling – which will be designed both to define new resources and to identify additional discoveries with the potential to deliver a step-change in the scale of the project.

“The additional funding will allow us to continue to assess the recent discoveries at Cardinia Hill and follow up on new prospects like Mt Flora, Eagle and Crow – in short to maintain the very strong exploration momentum we have built up over the past two years.

“These other targets have been identified by recent soil geochemistry and modern geophysical surveys over largely untested areas within the highly mineralised Cardinia area.

“We expect this work to generate new follow-up programs of work stretching into 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Gascoyne Resources Enters Trading Halt to Consider its Options

/in , /by

THE BOURSE WHISPERER: Gascoyne Resources (ASX: GCY) responded to Westgold Resources’ (ASX: WGX) taunt’s by requesting the ASX place the company’s ordinary shares in a trading halt with immediate effect.

Gascoyne Resources requested the trading halt saying it requires time to complete, “the finalisation and Board approval of a material update to its business plan”.

The company indicated that once the trading halt is lifted it expects to be able to provide additional information in respect of the Westgold Resources’ announcements regarding its unsolicited intention to make a takeover bid for the company.

“The Company requests that trading of its ordinary shares be halted until after the expected announcement of the update to its business plan is made or until the market opens on Wednesday 13 October 2021, whichever is the earlier,” Gascoyne said in its request to the ASX.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@gascoyneresources.com.au

 

Web: www.gascoyneresources.com.au

 

Dreadnought Resources Hits Massive Sulphides at Orion

/in , /by

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) reported encountering massive sulphide mineralisation in multiple holes on the Orion copper-gold-silver-cobalt target at the company’s Tarraji-Yampi project in the West Kimberley region of Western Australia.

Dreadnought Resources has completed eight RC drill holes to date at Orion, six of which intersected massive sulphides, confirming base metal mineralisation over 120 metres of strike and remaining open in all directions.

“We are off to an encouraging start with our drilling program at Orion,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“Strong mineralisation has been observed in six of eight holes with copper, cobalt and zinc sulphide mineralisation present.

“Down hole EM is currently underway to assist with our targeting at Orion.

“Orion remains open in all directions.

Drilling at Fuso, and Grant’s Find will commence tomorrow and will be followed by the balance of the Orion program on the back of the down hole EM results.

“Orion, Fuso and Grant’s Find are considered to be part of a large mineralised system and this program is well on its way to providing the framework to determine the scale of the opportunity.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Email: info@dreadnoughtresources.com.au

 

Web: www.dreadnoughtresources.com.au