Musgrave Minerals Turns Up White Heat Gold Hits

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported continued high-grade gold hits from diamond drilling at the White Heat prospect, 300m south of Break of Day on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia.

Diamond drilling at White Heat (formerly Target 2) has identified further very high-grade gold mineralisation near surface, intersected over a strike extent of 70 to 100 metres.

New intercepts include:

21MODD018
8.4m at 6.8 grams per tonne gold from 27.3m, including 1.2m at 37.2g/t gold from 27.3m

21MODD019
6.8m at 17.8g/t gold from 47m in the hanging wall lode, including 0.7m at 112.9g/t gold from 48.1m; and

3.4m at 107.6g/t gold from 74.6m in the footwall lode, including 1.2m at 303.2g/t gold from 74.6m.

“These are bonanza results and support our previous drilling at the high-grade White Heat deposit,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The White Heat lode is in a similar orientation and geological setting to the high-grade Starlight Lode only 400 metres to the north but is currently not included in a mineral resource estimate.

“These results from White Heat further highlight the potential to discover additional high-grade gold lodes within the project area.

“The combination of near-surface high-grade lodes like White Heat and Starlight, together with the large, moderate grade Big Sky style targets are expected to complement each other and enhance the future development potential of the project.

“Exploration is continuing to deliver strong results and add value for our shareholders.

“Drilling will resume at White Heat in September as we continue to extend the plunge of the mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

AVZ Minerals Confirms Carriere de l’Este Potential

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THE DRILL SERGEANT: AVZ Minerals (ASX: AVZ) reported new results from Mineral Resource drilling of the company’s Manono lithium and tin project in the Democratic Republic of Congo.

The latest assay results come from four new, widely spaced ‘step-out’ holes drilled at Carriere de l’Este, located on section lines 200m and 400m NNE along strike from the initial 2017 drill holes.

The company said the new holes have identified additional high-grade spodumene rich zones for future infill resource estimation drill programs.

The Carriere de l’Este pegmatite deposit is now confirmed at 1.2 kilometres long and remains open at both ends and down dip.

High-grade intersections from recent drilling include:

12.05 metres at 2.41 per cent lithium and 735ppm tin;
21.09m ta 2.1 per cent lithium and 943ppm tin; and
16m at 2.49 per cent lithium and 571ppm tin.

“The assay results from these four new holes show highly encouraging mineralisation 400 metres closer to the historical Carriere de l’Este open pit; as well as a more complex geology with intrusions of aplitic pegmatite and dolerite possibly along late-stage faults,” AVZ Minerals managing director Nigel Ferguson said in the company’s ASX announcement.

“The holes were deliberately widely spaced to try and help track the location of the high-grade zones mapped further to the southwest along this massive deposit and to that extent, the drilling has been successful.

“This information will be used to plan focussed infill drilling for the high-grade zones, with a closer pattern required in order to generate near surface Indicated or Measured Resources for possible conversion to reserves, prior to the commissioning of the new processing plant.

“The possible delineation of high-grade future reserves has the potential to initially feed higher grade ore to the plant, providing increased SC6 production volumes from the start of operations.

“This new information has allowed the location of the hanging wall contact to be expanded in areas of poor outcrop, which will help with the efficient targeting of future resource drilling of the overall Carriere de l’Este deposit.

“The drill data has also confirmed the presence of sub-cropping spodumene mineralisation to 1.2 kilometres long at average pegmatite widths of up to 200 metres in places, confirming this deposit as a likely rival to Roche Dure.

“Additionally, drill planning is well advanced on both eluvial laterite hosted tin deposits and the historical F2 and F4 alluvial tin deposits identified from the review of historical tin exploration carried out in the 1980s with drilling expected to commence soon.

“Despite future tin production accounting for only a small percentage of the project’s overall revenue, a strengthening tin and tantalum price continues to justify some exploration expenditure to gain information on the potential scale of these deposits which may sustain a separate placer tin mining business on the concession.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@avzminerals.com.au

 

Web: www.avzminerals.com.au

 

Galan Lithium Tops Up Coffers with $50M Raising

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THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) announced firm commitments to raise $50 million through a two-tranche placement to institutional, sophisticated and professional investors.

Galan Lithium said the Placement provides it with flexibility in respect to its ongoing capital expenditure requirements at Hombre Muerto West (HMW), Candelas and Greenbushes South.

Proceeds from the Placement will be applied to accelerate:

• Drilling activities at HMW to establish well fields for production and convert existing Resources to Reserves;

• Drilling activities at Candelas to convert existing Resources to Reserves;

• Ongoing exploration activities at Galan’s projects at HMW, Candelas and Greenbushes South;

• Completion of feasibility studies at HWM and Candelas; and

• General working capital.

The Placement is in two tranches.

Tranche One will raise $29.8 million and was well supported by high-quality domestic and offshore institutions.

Tranche Two, which is subject to Galan shareholder approval, will raise $20.2 million and was subscribed for by two institutional investors with a track record of successful investment in the natural resources sector.

Upon settlement of both tranches of the placement, Galan will have a cash balance of approximately $65.1 million.

“We are delighted to announce the completion of the Placement which has enabled us to introduce a number of high-quality institutions to Galan’s register,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“This represents a significant milestone in the history of the company and the recognition from these leading investors provides significant external validation for Galan’s extensive portfolio of strategic lithium projects.

“I would like to thank all new and existing shareholders for their ongoing support and look forward to accelerating the development of Galan’s projects at a particularly exciting time for the industry”.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

 

St George Mining Completes Initial Paterson Project Drilling

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THE DRILL SERGEANT: St George Mining (ASX: SGQ) advised of completion of the first drilling program undertaken at the company’s Paterson project, located within the Paterson region of Western Australia.

St George Mining’s maiden drill program at the Paterson project commenced in early June with 10,000m of planned air core (AC) and reverse circulation (RC) drilling.

The program comprised several wide spaced drill traverses designed to test the lithology and depth of cover across a 35 kilometres strike of prospective stratigraphy.

St George was encouraged by multiple drill holes intersecting prospective basement rocks, including chalcopyrite bearing, intensely altered and gossanous metasediments.

The company considers these rocks to be indicative of potential base metal and gold mineralisation in the project area.

“The inaugural drill program at our Paterson project is delivering great results with confirmation of basement rocks that are known to host major copper and gold deposits in the Paterson region,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“The RC rig has done its job at Paterson and has now mobilised to our Mt Alexander nickel-copper sulphide project in the Goldfields to drill a range of new targets as well as complete some resource definition drilling.

“We will announce more about the Mt Alexander drilling shortly.

“The next phase of drilling at Paterson will be with diamond core drilling – this will be deeper drilling to further test the emerging copper and gold targets that we have identified.

“A diamond rig is scheduled to arrive at Paterson in mid-October, which gives us time to first complete an important airborne EM survey over the high-priority areas of interest.

“The data from this survey will assist to better define the copper and gold targets for the diamond drilling.

“We are also pleased to launch our first exploration work at our second Paterson tenement – E45/5422 – with a gravity survey to be completed there later this month.

“The Paterson region has already delivered several major copper and gold discoveries.

“As a new entrant to the region, we are excited that our maiden drilling program has delivered such encouraging signs about the fertility of our ground for base metal and gold mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

Lithium Australia Seeks to Strengthen Battery Recycling IP Protection

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) revealed it has filed two International Patent Applications with the Australia Patent Office.

Lithium Australia made the submissions under the Patent Cooperation Treaty (PCT), which relate to the company’s 90 per cent-owned subsidiary company, Envirostream Australia Pty Ltd’s selective separation of metal values from recycled lithium-ion batteries and recovery of electrode materials.

The first of the PCT applications: ‘Process for recovering values from batteries’ covers a size-selective process for recovering electrode material from lithium-ion batteries, including as a mixed metal material (mixed metal dust, ‘MMD’) that comprises both cathode and anode powders.

The second: ‘Process for recovering values from process liquors’ describes processes for the selective recovery of mixed metal sulphates (such as a mixed cobalt-nickel sulphate) from a metal sulphate process liquor following leaching of mixed metal material (MMD) recovered from lithium-ion batteries.

“The Lithium Australia group is acutely aware of its environmental footprint and that of the society within which we live and operate,” Lithium Australia managing director Adrian Griffin said in the company’s ASX announcement.

“We can no longer afford to discard any products to landfill, let alone those that have a high embedded energy footprint, contain critical materials, or – in the case of lithium-ion batteries – both.

“We have developed unique processes to deal with battery waste and invite like-minded industry participants to work with us in improving the sustainability of our consumer-based society.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

 

Charger Metals Energised to Commence Exploration Activities

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COMMODITY CAPERS: Charger Metals (ASX: CHR) wasted no time at all after listing in July this year before announcing it had identified a new lithium target at the company’s Lake Johnston lithium and gold project in Western Australia.

Charger Metals listed with the Lake Johnston project already including the Medcalf spodumene discovery and much of the Mount Day lithium caesium tantalum (LCT) pegmatite field.

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

An immediate soil geochemistry survey at the Lake Johnston project identified a substantial lithium anomaly in a previously untested area of E63/1903.

The anomaly demonstrated coincident lithium, caesium, and rubidium the company interpreted to be suggestive of the presence of a lithium-caesium-tantalum pegmatite.

“Soil geochemistry is often the first activity in a new area, leading the geological investigation process for a new prospect,” Charger Metals managing director David Crook said.

“It is very gratifying that Charger Metals has been rewarded with an anomaly at Lake Johnston from the first soil program since listing in an emerging lithium province.”

Charger also has a 70 per cent interest in the Bynoe lithium and gold project in the Northern Territory, within the Litchfield Pegmatite Field.

The area has a history of tin mining and is demonstrably prospective for tantalum and alkali metals including spodumene.

The Bynoe project is surrounded by the large tenement holdings of Core Lithium’s (ASX: CXO) Finnis lithium project, which is at a very advanced stage of development having had completed a definitive Feasibility Study in April 2019.

Charger has commenced field activities at Bynoe with a field crew mobilised to expand mapping and geochemical sampling.

Fourteen pegmatite anomalies have been identified within a five-kilometre-long zone from existing geochemistry.

Presently 50 per cent of the tenement remains yet to have been geochemically sampled.

A detailed aeromagnetic survey scheduled to be flown by the end of August.

“Charger Metal’s programs of mapping, geochemistry and aero-magnetics now underway at the Bynoe lithium project are designed to refine the five-kilometre-long cluster of lithium targets to a point where a substantial drilling program can be planned,” Crook said.

 

 

Email: admin@chargermetals.com.au

 

Web: www.chargermetals.com.au

 

NickelX Kick Starts Albany Fraser Belt Exploration

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COMMODITY CAPERS: NickelX (ASX: NKL) is exploring for high-grade Nova-type magmatic nickel-copper deposits, as well as large scale Tropicana-type structural gold deposits in the Albany Fraser Belt, located in Western Australia.

NickelX owns 100 per cent-interest in its six granted Exploration Licenses at the Biranup project in the Albany Fraser Orogen, including numerous high priority targets at Fire Dragon, Silver Dragon, Black Dragon and Red Dragon, as well as additional priority targets which comprise the projects.

The company listed on the ASX in May with a IPO-funded bank account balance of $7 million to fund exploration programs, which it wasted little time commencing.

The company is implementing systematic work programs at the Biranup project, including a diamond drilling program partly funded by the WA Government, where it is looking for massive sulphides over well-defined and strong conductors at Fire Dragon.

Previous work at the Biranup project had identified more than 20 EM conductors, including four high priority targets that NickelX considers highly prospective for magmatic nickel-copper mineralisation.

The high priority Fire Dragon nickel target has been the subject of an AEM survey, ground MLEM survey and very limited drilling by previous explorers, which intersected semi-massive to massive sulphides (including pentlandite and chalcopyrite), from a limited four-hole program.

The MLEM surveys were designed to better define the four targets that had been identified from a SPECTREM AEM survey flown by previous explorers that NickelX had reprocessed by Southern Geoscience Consultants.

Three first order conductivity targets (FD1, FD2 and FD4) were followed up by MLEM surveys to test the conductivity anomalies and define targets for drill testing.

The MLEM conductive anomalies detected at FD1, FD2 and FD4, implying basement sources with preliminary modelling on FD1 suggesting a conductor located down dip of previously identified EM conductors at Fire Dragon.

Drilling now underway includes 2 PHASES of diamond and diamond with RC pre-collars to test for nickel-copper sulphides at Fire Dragon and FD1 based on current data, while a wider PHASE 2 program of diamond and diamond with RC pre-collars is planned to test for nickel-copper sulphides at Fire Dragon, FD1, FD2, FD4 and Silver Dragon and to test for structural Gold at Black Dragon that will be based on completion of modelling from the recent EM surveys and results from PHASE 1.

“We’re pleased to have…secured a Diamond Rig for our PHASE 1 and PHASE 2 drilling programs at Fire Dragon (Nickel Copper), Silver Dragon (Nickel Copper) and Black Dragon (Gold), for what will be the only comprehensive and systematic drill program on highly prospective targets, identified by the NickelX team’s data review and recently successful EM surveys,” NickelX Managing Director Matt Gauci said.

 

 

Email: info@nickelxlimited.com

 

Web: www.nickelxlimited.com

 

Poseidon Nickel Targeting 2022 for Nickel Production

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COMMODITY CAPERS: Poseidon Nickel (ASX: POS) has three nickel projects Windarra, Black Swan and Lake Johnston all within 300 kilometres of Kalgoorlie in Western Australia that currently host a combined Resource base of around 400,000 tonnes nickel and 180,000 gold.

Most recent activity has centred around the Black Swan project, which Poseidon acquired from Norilsk Nickel Australia in late 2014.

The project comprises the Silver Swan underground mine, the Black Swan open pit and the Black Swan 2.2 million tonnes per annum concentrator with 191,400 tonnes of nickel metal in resource.

A scoping study is currently underway looking at refurbishment and operation of the Black Swan processing plant, examining two processing capacities: the first 150,000 tonnes per annum for high-grade ores using the Silver Swan plant and second 1.1 million tonnes per annum for the lower grade ores using the Black Swan plant.

Poseidon commenced a Resource Definition drilling program at the Golden Swan prospect, within the Black Swan project in April designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.

The most recent results from the drilling included:

PGSD036
9.8 metres at 4.95 per cent nickel, including 2.95m at 11.1 per cent nickel and 0.56 per cent copper from 216.2m, 0.95m at 14.9 per cent nickel from 216.8m and 0.4m at 15.8 per cent nickel from 217.75m;

PGSD040
18m at 2.74 per cent nickel from 221m, including 2.6m at 4.97 per cent nickel from 222.4m;

PGSD041
4.4m at 2.97 per cent nickel, including 1.8m at 5.48 per cent nickel from 171.6m;

PGSD038
9.1m at 3.79 per cent nickel, including 0.6m at 10.5 per cent nickel from 204.4m, 0.7m at 16.6 per cent nickel from 205m, 5.75m at 2.39 per cent nickel from 247.75m, and 3m at 3.3 per cent nickel from 272m, including 1m at 7.03 per cent nickel from 272.9m;

PGSD039
12.4m at 3.65 per cent nickel from 181.6m, including 6.4m at 5.8 per cent nickel from 181.6m, 0.5m at 16.7 per cent nickel from 181.6m, and 0.45m at 17.7 per cent nickel from 182.6m; and

PGSD049
4.45m at 5.86 per cent nickel from 187m, including 2.1m at 9.3 per cent nickel from 187m, including 0.9m at 15 per cent nickel.

Poseidon interpreted the high-grade results to have confirmed Golden Swan as a high-grade mineralised zone.

Once all the assay results are received, the company anticipates preparation of a maiden resource, hopefully sometime in the September 2021 quarter.

Funds received from a recent $22 million raising have been earmarked for further work at Black Swan and the company’s other projects.

Poseidon Nickel managing director and CEO Peter Harold said the placement supports the company’s continued strategy to build a high-grade nickel inventory at Black Swan and progress the project toward a potential recommencement of operations in 2022.

“The funds raised will be used to continue exploration activities at Golden Swan and across the Southern Terrace, undertake drilling to convert additional Silver Swan mineral resources to ore reserves and complete mining and production studies at Black Swan,” he said.

“Funds will also be allocated to reviewing the exploration potential of our Lake Johnston and Windarra nickel projects.”

 

Email: admin@poseidon-nickel.com.au

 

Web: www.poseidon-nickel.com.au

 

Musgrave Minerals Reports Further Big Sky Gold Hits

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further strong assay results from reverse circulation (RC) drilling at the Big Sky prospect along a newly identified gold corridor south-west of Lena and Break of Day on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia’s Murchison district.

Musgrave Minerals received assays for a further 35 RC drillholes it said continue to define thick regolith gold mineralisation within the 2.6km-long aircore gold anomaly at Big Sky.

Gold mineralisation remains open to the south and down dip at Big Sky where RC drilling is continuing.

New intersections include:

21MORC124
18 metres at 2 grams per tonne gold from 18m;

21MORC130
18m at 1.2g/t gold from 18m;

21MORC132
24m at 1.7g/t gold from 24m; and

21MORC141
30m at 1g/t gold from 30m.

Musgrave also received one-metre resample assays from previously reported six-metre composites from 24 resource definition RC drill holes at the Big Sky prospect, which confirmed the results from the six-metre composite sampling.

Re-assaying of one-metre samples from original composites returned:

21MORC101
73m at 1.4g/t gold from 41m, including 5m at 10.1g/t gold from 72m;

21MORC082
36m at 1.3g/t gold from 30m, including 11m at 3g/t gold from 55m; and

21MORC095
9m at 1.8g/t gold from 75m.

“Big Sky is proving to be a significant large scale gold system and the RC drilling continues to return strong results of near surface gold mineralisation within the 2.6 kilometres long corridor,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The continuity of the broad near-surface gold mineralisation intersected to date is very encouraging and demonstrates we are onto a large gold system at Big Sky with the potential to deliver a significant near surface resource.

“Unfortunately, assay turnaround has been slow but is starting to improve.

“We are still awaiting assays for more than 57 RC drill holes from Big Sky and we look forward to updating the market with further results as assays are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

 

PVW Resources Kicking Off Tanami Exploration at Watts Rise

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THE DRILL SERGEANT: PVW Resources (ASX: PVW) is set to commence exploration activities on the Watt Rise prospect at the company’s Tanami project in Western Australia.

PVW Resources will be following a path laid by previous owners that drilled gold mineralisation at Watts Rise in 2010.

The ground-based exploration program commencing in August at the Watts Rise prospect will test for surface gold and pathfinders along the Watts Trend and further afield, using an airborne geophysical survey with the aim of completing detailed geophysical coverage of the Tanami project.

Subsequent interpretation of airborne geophysics will focus on defining new regional drill targets for gold and rare earth elements and refining existing targets in preparation for drilling later this year.

“It is hard to believe that the last hole drilled at the project, which intersected highly significant mineralisation, has not been followed up in nearly a decade,” PVW Resources executive director George Bauk said in the company’s ASX announcement.

“Drilling at the Watts Rise prospect has intersected multiple gold horizons but there has been a lack of detailed geological interpretation undertaken by previous explorers.

“We are now on the ground and about to commence the next chapter of exploration.

“Over the past decade, we have seen Northern Star develop a significant land holding in the Tanami Region and most recently Encounter Resources has announced its intent to spin out its Tanami project into a new company focussed on the region.

“The potential of the region is highlighted by the world class Callie deposit which is owned and operated by Newmont Gold, the world’s largest gold company.

“Only a handful of companies hold significant land positions in the region, and we are 100 per cent holders of over 1,000 square kilometres of contiguous tenements with outstanding drill intersections to work with.

“Our team is employing a structured approach to the exploration activities with the completion of detailed airborne geophysical coverage and on ground activities prior to the company’s maiden Tanami drilling program planned for the end of the year.

“The project is well serviced with the Tanami Road intersecting the southern part of our tenement holding and the Coyote Gold Mine Camp provides a convenient and close base to operate from.

“We have expertise in our team on a number of fronts including a long history of exploring in the area for multiple commodities, gold exploration expertise globally and operational experience in the immediate region.

“The journey is now beginning for PVW in the Tanami and we look forward to the outcomes of our efforts in the coming quarters and years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@pvwresources.com.au

 

Web: www.pvwresources.com.au