Kalamazoo Resources Expands Victorian Gold Portfolio

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THE BOURSE WHISPERER: Kalamazoo Resources (ASX: KZR) bp;stered its portfolio of Victorian gold projects after being granted Exploration Licence EL007323, also known as the Myrtle gold project.

The Myrtle project EL is located within the highly endowed Bendigo Zone of the Central Victorian Goldfields and covers 44 square kilometres of highly prospective goldfields geology, 30km south of the high-grade Fosterville gold mine.

The addition of the Myrtle gold project takes Kalamazoo’s Victorian exploration tenure in the prolific Bendigo Zone to approximately 515sqkm.

“The Myrtle gold project is a great addition to our Victorian portfolio, given its proximity to our nearby Castlemaine and South Muckleford gold projects,” Kalamazoo Resources chairman and CEO Luke Reinehr said in the company’s ASX announcement.

“With the Myrtle gold project located just 30 kilometres from the world-class Fosterville gold mine, it will play an important role in our strategy to consolidate exploration tenure in the immediate vicinity of Fosterville and the highly prospective Central Victorian Goldfields.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@kzr.com.au

 

Web: www.kzr.com.au

 

Auroch Minerals Intersects Nickle Sulphides at new Leinster Project Prospects

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THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) reported assay results from diamond drilling completed at the Woodwind and Percussion prospects at the company’s 100 per cent-owned Leinster nickel project in Western Australia.

Auroch Minerals received assay results for four of five diamond drill-holes drilled to test the potential of the Woodwind and Percussion prospects.

The two prospects are located directly along strike from the Horn prospect, where previous drilling delineated shallow high-grade nickel sulphide mineralisation.

The prospects are defined by aeromagnetic high anomalies that Auroch consider being very similar to that which defines the Horn prospect, as such the company has defined them to be high-priority drill targets.

Results include:

HNDD008
72 metres at 0.46 per cent nickel from 212m, including 4m at 0.61 per cent nickel from 233m and 14m at 0.57 per cent nickel from 258m;

HNDD007
8m at 0.30 per cent nickel from 296m to EOH within elevated nickel values (>0.25 per cent nickel) and observed disseminated nickel sulphides over 88m from 216m; and

HNDD010
2m at 0.45 per cent nickel from 388m, including 1m at 0.61 per cent nickel from 389m.

Auroch noted the results highlight the aeromagnetic trend at Leinster is coincident with a thick package of fertile, nickel sulphide -bearing ultramafic rocks.

“This has been an exceptional start to our regional exploration at the Leinster project,” Auroch Minerals managing director Aidan Platel said in the company’s ASX announcement.

“After outstanding shallow high-grade nickel-copper sulphide results from drilling at the Horn prospect in late 2020, we were intrigued by what the magnetic anomalies along strike from the Horn may hold, most of which had never seen a drill-hole.

“The results from just our first four drill-holes have already shown that these aeromagnetic highs at the Woodwind and Percussion prospects do indeed define thick fertile ultramafic units that have cumulate ultramafic phases with disseminated nickel sulphides – that is, exactly the geology seen proximal to the massive nickel sulphide mineralisation at Rocky’s Reward and Perseverance, one of the largest nickel sulphide deposits in the world that is only 35 kilometres to the north of our Leinster project.

“The diamond drilling has been particularly important for our geology team to see these all-important textures and structures, and has helped them to identify the overturned structural setting at Woodwind, similar to that of the Horn.

“The presence of nickel sulphide stringers in hole HNDD0011 suggest we are getting closer to significant accumulations of nickel sulphides, and we are eager to see what the pending DHEM and assay results will tell us as we attempt to vector in on massive nickel sulphide mineralisation in this highly-prospective trend.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@aurochminerals.com

 

Web: www.aurochminerals.com

 

Thick Zone of IOCG Mineralisation at Emmie Bluff Deeps sends Coda Minerals and Torrens Mining Shares Flying

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THE DRILL SERGEANT: Coda Minerals (ASX: COD) first appeared on The Resources Roadhouse radar screens when it presented at our Explorers afternoon in March this year.

Presenting to our usual audience of well-informed investor types, Coda Minerals raised a few eyebrows in interest of the company’s Elizabeth Creek copper project in South Australia.

Exploration is a lot like real estate at times and Coda Minerals is no exception to this rule with its Elizabeth Creek project sitting slap bang amidst a traditional copper neighbourhood.

The 739 square kilometres project sits in the heart of the Olympic Copper Province, also known as Australia’s most productive copper belt.

Elizabeth Creek is centred 100 kilometres south of BHP’s Olympic Dam mine, 15km from BHP’s Oak Dam West project, and 50km west of OZ Minerals’ Carrapateena copper-gold project.

Hindsight is a wonderful thing to think the company has set up shop in such a region, but then again foresight is an ever more wonderful thing, especially when a company has the gumption to follow its nose and start drilling.

The company has identified two priority targets at the Elizabeth Creek project at which it commenced its current drilling program in May 2021.

These targets are:

The Emmie Bluff copper-cobalt deposit, a laterally extensive, flat-lying, sediment-hosted copper-cobalt deposit at approximately 400 metres deep, over which the company established an Exploration Target in 2019; and

The Emmie Bluff IOCG Deeps prospect, which lies in the basement rocks below Emmie Bluff, approximately 700 to 1,000m deep.

The target at Emmie Bluff Deeps is iron-oxide copper-gold (IOCG) mineralisation, which is mined in the region at the Olympic Dam, Carrapateena and Prominent Hill mines.

This week, things got serious for Coda Minerals, in conjunction with its Joint Venture partner Torrens Mining (ASX: TRN), with the announcement of preliminary results from drill-hole DD21EB0018, the first deep diamond hole designed to test Emmie Bluff Deeps IOCG target at the Elizabeth Creek project.

“The deep IOCG diamond drill hole DD21EB0018 has intersected very encouraging copper sulphide mineralisation,” Torrens Mining managing director Steve Shedden explained in his company’s ASX announcement regarding the discovery.

“This is an excellent result for the first Joint Venture drill hole to test the IOCG mineralised system and, against a background of steadily rising copper prices, is most heartening.

“Torrens’ shares Coda’s enthusiasm for these results and highly anticipates the assay results.

“We look forward to more positive developments at the Elizabeth Creek project, which the Joint Venture is energetically pursuing.”

For the technically minded among us, the drill hole in question was reported to have encountered a 200 metres sequence of intense haematisation and alteration, including a 50m sequence of zoned copper sulphide mineralisation, consisting of chalcocite, chalcopyrite and bornite zones.

The explorer’s newest best friend, the Portable-XRF machine, produced readings of this haematite cap material that indicated the presence of highly anomalous lanthanum and cerium, both of which are considered key pathfinder elements for IOCG systems.

Beneath this haematite cap, the drill hole encountered approximately 70m of strongly altered granite, interpreted to be intrusive Hiltaba Suite granites.

This granite was followed by an approximately 50m zone of variably intensive haematite altered metasediments with a significant copper sulphide component, starting from approximately 797m down-hole.

Coda explained how the copper sulphides exhibit zoning with depth, with the highly altered zone consisting of:
• an upper zone of disseminated and blebby chalcocite/bornite in massive haematite;
• a narrow zone of chloritic and haematised sediment;
• a strongly haematised middle zone, dominated by chalcopyrite and accessory bornite in blebs and accumulations typically (though not universally) aligned with the remnant sedimentary structures and with elevated molybdenum and cobalt levels detected by portable XRF; and
• a lower zone, including both bornite and chalcopyrite, again primarily in blebs and veinlets.

According to Coda, the readings achieved by the Portable XRF confirmed elevated copper associated with these sulphides in all three sulphide zones, as well as the presence of IOCG indicator elements such as cobalt and barium.

The astonishing thing to note here is that the announcement contained no assay results, as these were yet to have found their way out of the laboratory.

This didn’t seem to concern investors with the Coda Minerals and Torrens Mining prices enjoying exemplary trading days.

Both emerged from self-imposed trading halts to light up the boards as well as the countenance of their respective shareholder bases.

“This is a very exciting and significant result for the very first deep IOCG exploration hole to be drilled at our Elizabeth Creek project since we listed on the ASX, and it represents the culmination of significant geological and geophysical targeting work undertaken prior to listing,” Coda Minerals CEO Chris Stevens said in the company’s ASX announcement.

“Although assays are pending and we cannot confirm the tenor or extent of the mineralisation we have encountered, preliminary geological logging and field observations by Coda’s experienced technical team suggest that the hypothesis which drove the design of this hole has been validated.

“Regardless of the final assays, it is clear based on geological data alone we have intersected an IOCG alteration system of significant scale.

“We are incredibly encouraged to have encountered chalcocite, chalcopyrite and bornite at the intensity and over the length of core that we did, and we are currently investigating options to follow up these exciting results as soon as possible.

“We have approvals in place for multiple additional holes and anticipate mobilising a third diamond rig to Emmie Bluff in the coming days.

“This work will proceed in parallel with the ongoing resource in-fill drilling program covering the shallower, Zambian-style copper-cobalt mineralisation at Emmie Bluff itself, where we remain on track to deliver a maiden Mineral Resource Estimate in the September quarter this year.

“Given the size of the prize and the location of the Emmie Bluff Deeps IOCG Project in a Tier-1 mineral province just 16 kilometres from one of the world’s most exciting new IOCG discoveries of recent times at Oak Dam West, we feel that we owe it to our shareholders to pursue this game-changing opportunity with vigour.”

 

 

TO READ THE CODA MINERALS COMPANY ANNOUNCEMENT IN FULL: CLICK HERE

 

 

Saturn Metals Achieves Excellent Apollo Hill Drilling Results

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) was eager to let the market know of further results achieved from ongoing reverse circulation (RC) drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project, south-east of Leonora in the Western Australian goldfields.

Saturn Metals explained the drilling is a key part of the company’s ongoing strategy to grow the Apollo Hill Mineral Resource, which was upgraded to 944,000 ounces on 28 January.

The company anticipates another resource upgrade later in 2021 utilising the results from the next 20,000m of drilling planned across the Apollo tenements and the 29,000m already completed between January and May.

Thick, shallow, and higher-grade intersections from recent reverse circulation drilling include:

AHRC0766
10 metres at 4 grams per tonne gold from 89m, including 5m at 7g/t gold from 94m;

AHRC0710
12m at 1.82g/t gold from 172m including 5m at 3g/t gold from 172m;

AHRC0725
12m at 1.32 g/t gold from 75m including 4m at 3.43g/t gold from 79m;

AHRC0717
12m at 1.02g/t gold from 30m including 6m at 1.83g/t gold from 30m;

AHRC0723
4m at 4.51g/t gold from 108m;

AHRC0726
3m at 12.33g/t gold from 79m; and

AHRC0722
2m at 9.87g/t gold from 171m.

Saturn claimed the new results effectively merge mineralisation into one continuous southern Apollo Hill extensional corridor between the Ra and Tefnut zones over a one kilometre strike length, demonstrating clear continuity between the drill sections.

“These excellent results provide us with the confidence to model the new corridor over its full strike length, an important step as we work towards our next resource upgrade planned for later in 2021,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“The new results highlight the ongoing exploration potential where drilling remains open to south, and to the north immediately adjacent and parallel to the main Apollo Hill Lode, with further work planned.

“A higher-grade core to the assay results is becoming evident over the extensional corridor’s strike length and this is very promising.

“We look forward to reporting on the next batch of assays from the 40 additional holes completed to date in this area.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

 

St George Mining Begins Paterson Project Drilling Campaign

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THE DRILL SERGEANT: Western Australian nickel-focused drilling machine St George Mining (ASX: SGQ) has commenced a new drilling campaign, this time at the company’s Paterson project, located within the Paterson region of Western Australia.

St George Mining considers the Paterson project as an early stage opportunity with plenty of exploration upside for copper and gold deposits.

The company believes it complements its Mt Alexander nickel-copper sulphide project, where St George is continuing to expand the footprint of high-grade nickel-copper sulphide mineralisation and advance towards a potential mine development.

“We are delighted to be on the ground at the Paterson project and commencing our inaugural drill program at this exciting exploration opportunity,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“The Paterson region is one of Australia’s most active exploration frontiers on the back of multiple major discoveries made over the past few years including Winu and Havieron.

“The Paterson is regarded as ‘elephant country’ and continues to attract significant investment from the major mining companies.

“Our technical team has worked methodically to establish a number of high-priority exploration targets.

“These have never been drilled and offer St George an excellent opportunity to deliver a new discovery.

“Importantly, the early stage nature of the Paterson project perfectly complements our more advanced Mt Alexander in the Goldfields region, where we continue to make more high-grade nickel-copper sulphide discoveries and are advancing mine development plans.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

Ora Banda Mining Receives Investor Support with $21M Raising

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THE BOURSE WHISPERER: Ora Banda Mining (ASX: OBM) received support for its recent run of operational achievements with commitments from professional and sophisticated investors to raise $21 million.

Ora Banda Mining completed the placement of approximately 124 million new fully paid ordinary shares at an offer price of 17 cents per new share, receiving support from both new and existing shareholders, with Australian and international institutional investors introduced to the register.

The company also announced a share purchase plan (SPP) to existing eligible shareholders, to raise approximately a further $4 million, also at the placement issue price of 17 cents.

The placement and SPP proceeds, together with Ora Banda’s existing cash balance, will be used to fund resource definition and reserve replacement, maiden reserves work, regional exploration, ramp up costs and working capital for the company’s Davyhurst gold project in Western Australia.

“We are very pleased with the support the placement received, and welcome a number of highly credentialed Australian and offshore investors to the register,” Ora Banda Mining managing director David Quinlivan said in the company’s ASX announcement.

“On behalf of the Board, I would also like to thank our existing shareholders for their strong support.

“FY 2021 has been an incredibly busy time for Ora Banda.

“It was the year in which the company started three new mines, installed and commissioned a range of significant infrastructure on site including a new LNG power station, built a new camp, completed the planned process plant remedial works program on time and within budget and then recommissioned this plant.

“All of this achieved during a year of significant global “Covid-19” disruptions.

“With three mines online by the end of June, the company has a solid and flexible production base as processing ramps up to nameplate capacity.

“Funding to progress resource and reserve definition and advance high priority exploration targets ahead of when previously planned will further underpin the company’s long-term future.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@orabandamining.com.au

 

Web: www.orabandamining.com.au

 

 

Aeris Resources Drills Impressive Copper Hits at Constellation

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THE DRILL SERGEANT: Aeris Resources (ASX: AIS) is currently conducting an RC drill program at the Constellation deposit, located within the company’s 100 per cent-owned Tritton tenement package in New South Wales.

Aeris Resources is drilling to test the extents of shallow oxide and supergene copper mineralisation the company first identified from diamond drill hole TAKD002 that was reported to the market in December 2020.

The RC drilling has defined an oxide and supergene copper footprint approximately 150 metres along strike and 130m down plunge with mineralisation remaining open to the south.

To date, 52 RC drill holes have been completed to date, with assays received for 22 and assays pending on the remaining 30.

High-grade copper intersections from the recent assays include:

TAKRC024
38 metres at 3.72 per cent copper, 0.36 grams per tonne gold, 3.1g/t silver from 8m;

TAKRC025
47m at 3.9 per cent copper, 0.96g/t gold, 5.6g/t silver from 11m;

TAKRC004
38m at 2.91 per cent copper, 0.47g/t gold, 1.8g/t silver from 44m; and

TAKRC003
10m at 5.48 per cent copper, 0.83g/t gold, 3.7g/t silver from 40m, including 5m at 10.77 per cent copper, 1.56g/t gold, 6.8g/t silver from 45m.

Aeris has submitted two applications to the NSW Resources Regulator for an additional 40 RC holes in the adjoining two exploration tenements.

“The first round of assay results from the RC drilling have exceeded our expectations,” Aeris Resources executive chairman Andre Labuschagne said in the company’s ASX announcement.

“Intersecting high grade copper mineralisation within 10 metres from surface is remarkable.

“The footprint of this near-surface copper mineralisation is also larger than we expected and remains open along strike to the south.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@aerisresources.com.au

 

Web: www.aerisresources.com.au

 

 

Kin Mining Drilling Confirms Mt Flora Potential

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) released further encouraging assay results from a recently completed air-core (AC) drilling program at the Mount Flora prospect, located 20km from the company’s 100 per cent-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.

Results include:

MF21AC658
8m at 1.04 grams per tonne gold from 24m;

MF21AC623
8m at 0.8g/t gold from 16m;

MF21AC621
4m at 1.17g/t gold from 48m to BOH;

MF21AC624
4m at 1.1g/t gold from 48m;

MF21AC663
4m at 1.04g/t gold from 16m; and

MF21AC610
2m at 1.06g/t gold from 24m to BOH.

Kin Mining said the latest results build on those it reported last week, which included an outstanding high-grade intercept from drill-hole MF21AC522.

The company said the latest results help to delineate additional mineralised trends in the northern portion of the project to those previously identified.

“We are encouraged to see more strong results from this first round of wide-spaced, shallow air-core drilling at Mount Flora, building on the exceptional results announced last week,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The drilling has outlined three coherent areas with consistent mineralisation, with this final batch of assays coming from the Northern Area.

“Following last week’s exceptional result of 22 metres at 8.96 grams per tonne we dispatched a field team to follow up this area.

“They have identified a number of north-east trending quartz veins which appear to be the primary control on the mineralisation.

“This area will be a priority focus for initial RC drilling, which we plan to start as soon as POW approvals are received and the rig becomes available from the Phase 4 drill program at Cardinia.”

 

TO READ THE FULL PREVIOUS MT FLORA ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Mako Gold Drilling Expands Tchaga Project

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THE DRILL SERGEANT: Mako Gold (ASX: MKG) reported assay results from reverse circulation (RC) and diamond drilling holes from an ongoing drilling program at the Tchaga prospect within the company’s Napié project in Côte d’Ivoire.

Mako gold said the latest results, including…

NARC404DD
17 metres at 3.06 grams per tonne gold; and

NARC419DD
9.85m at 6.63g/t gold.

…had validated the company’s methodical approach of infill drilling as well as drilling along-strike, and down-dip of previously identified mineralised lodes.

The system increases the footprint of each lode and targets new lodes, with the aim of delivering a Maiden Mineral Resource Estimate later this year.

“The footprint of the Tchaga project continues to expand as exploration progresses with further high-grade drill intersections and new largely untested lodes that have been defined,” Mako Gold managing director Peter Ledwidge said in the company’s ASX announcement.

“The deeper high-grade results reported are significant as these confirm the high-grade shoots within the broader mineralised envelope on multiple cross-sections.

“The confirmation of these high-grade intercepts at depth increases confidence in Mako being able to deliver a robust Maiden Mineral Resource Estimate with gold mineralisation present from surface to the base of a conceptual pit.

“Drilling is ongoing at Tchaga to further extend the strike-length of known mineralised lodes as well as the newly identified lodes.

“We look forward to providing constant news flow with our drilling progressing well and assay turnaround times back on track now that we are utilising two assay laboratories.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@makogold.com.au

 

Web: www.makogold.com.au

 

Thor Mining Awarded Northern Territory Government Drilling Funds

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THE DRILL SERGEANT: Thor Mining (ASX: THR) has picked up a Northern Territory Government grant for drilling at the company’s Molyhil project.

Thor Mining was awarded $110,000 from the NT Government as part of its Resourcing the Territory, Geophysics and Drilling Collaborations (GDC) program.

Thor indicated the funds will be used for drill testing of recently identified magnetic targets adjacent to the mineralisation at the Molyhil tungsten-molybdenum deposit.

The Molyhil deposit is located north-east of Alice Springs within the prospective polymetallic province of the Proterozoic Eastern Arunta Block in the NT.

In April this year, Thor released a revised Mineral Resource Estimate comprising Measured, Indicated, and Inferred Mineral Resources, totalling 4.4 million tonnes at 0.27 per cent tungsten, 0.1 per cent molybdenum, and 0.05 per cent copper.

“The successful grant is a strong validation by the Northern Territory Geological Survey of the prospectivity of the magnetic targets identified at Molyhil,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.

“We acknowledge and thank the Northern Territory Geological Survey and the NT Government for this positive exploration initiative.

“This is the third successful government grant Thor has received this year, towards co-funding of our upcoming 2021 drilling programs: three grants for three different projects in three different states.

“June will be a busy month with drilling commencing at Alford East project, SA next week, followed shortly thereafter at our USA uranium project and Ragged Range gold project in WA.”

 

 

 

Email: corporate@thormining.com

 

Web: www.thormining.com