Genesis Minerals Encounters High-Grade Visible Gold

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported results from ongoing drilling aimed at growing the resource base at the company’s 1.6 million ounces Ulysses gold project in Western Australia.

Genesis Minerals reported the latest results to include a spectacular visible gold intercept in a potential new mineralised position at the Admiral deposit and meaningful results from the Butterfly North deposit of:

21USRC878
7m at 1.6 grams per tonne gold from 49m;

21USRC879
10m at 1.57g/t gold from 5m;

21USRC882
9m at 0.63g/t gold from 17m;
15m at 1.34g/t gold from 62m;

21USRC883
28m at 1.38g/t gold from 79m;

21USRC884
41m at 1.03g/t gold from 46m, including 14m at 2.02g/t gold from 55m;
17m at 0.45g/t gold from 115m;

21USRC885
12m at 1.41g/t gold from 99m;

21USRC886
4m at 2.01g/t gold from 90m; and

21USRC888
10m at 1.66g/t gold from 160m.

Genesis is drilling within the Admiral-Clark-Butterfly mine area targeting extensions to known deposits and potential new discoveries.

The company considers the results delivered to date demonstrate potential to substantially expand the Mineral Resource base at Ulysses and identify new mineralised positions.

This was demonstrated by a high-grade visible gold intercept returned from step-out drilling at the Admiral deposit of:

21USRC89
5m @ 60.7g/t gold from 265m.

“A standout drill intercept of five metres at 60.7 grams per tonne gold is always going to make investors sit up, particularly when it is located beyond the known resource envelope within a potentially entirely new mineralised position!” Genesis Minerals managing director Michael Fowler exclaimed in the company’s ASX announcement.

“This is what we appear to have at the Admiral deposit, with the caveat that more drilling is needed to evaluate the size, orientation and significance of this high-grade position.

“The broader message is that our step-out and discovery drilling program, which is designed to build on the 1.6 million Resource announced in late March, is well underway and is off to a great start.

“We are seeing clear potential to extend known deposits as well as the opportunity to make new discoveries across a gold field that essentially has had very little exploration attention in the past few decades.

“Our systematic exploration approach is paying dividends and, if the gold is there, we are confident we will find it!

“We look forward to reporting more results in the coming weeks and months, and we are eagerly awaiting the results from a number of holes drilled in close proximity to the high-grade intercept in hole 21USRC892.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

 

Stavely Minerals Claims New Porphyry Discovery at Toora West

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THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported highly encouraging first-pass air-core drilling results from the Toora West porphyry prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Toora West is located approximately 15 kilometres north-west of Satvely Minerals’ Cayley Lode discovery at the Thursday’s Gossan prospect, where a major resource drill-out is continuing.

Results from the Toora West drilling include:

STWAC029
1 metre at 0.15 per cent copper from 58m down-hole and 3m at 0.34 per cent copper from 64m, including 1m at 0.61 per cent copper and 2.46 grams per tonne silver from 64m;

STWAC030
3m at 0.17 per cent copper from 35m down-hole, including 1m at 0.32 per cent copper from 35m and 1m at 0.14 per cent copper from 45m; and

STWAC031
3m at 0.11 per cent copper from 39m down-hole and 1m at 0.18 per cent copper from 50m to the end-of-hole.

Stavely Minerals executive chairman Chris Cairns explained the latest results in great detail in the company’s ASX announcement.

“We are very excited to see clear indications of a second emerging discovery in the Stavely Volcanic Arc,” Cairns said.

“While the shallow Mineral Resource definition drill program at Thursday’s Gossan is at an advanced stage, a new early-stage discovery at Toora West would confirm the prospectivity of the entire Stavely Volcanic Arc for further discoveries, further leveraging our dominant, first-mover position in this under-explored district.

“As the natural progression from intensive drill-out to more engineering and metallurgically-based economic studies at Thursday’s Gossan plays out, the focus of our geology team will shift to testing regional targets.

“Given the lack of systematic exploration in the Stavely Volcanic Arc, we simply do not know if Thursday’s Gossan is the best opportunity out there or whether it was the easiest to identify given that it sits in a ‘window’ of no cover while the rest of the Stavely Belt – including the Stavely Belt-equivalent Narrapumelap Belt and the Elliot Belt in our EL006870 – are largely unexplored under shallow cover.

“We recently contracted CGG Geophysics to fly a gravity gradiometer survey and those data, in conjunction with high-resolution magnetics data collected concurrently, will provide a proprietary baseline dataset to guide exploration in the district for many years to come.

“Despite having worked in this part of western Victoria for the past seven years, I can’t help but feel that we may be in the early part of this discovery journey in an emerging copper province in a first-world jurisdiction, just at a time when the world requires a secure and increasing supply of copper to underpin the transition to a low-carbon future.

“Additionally, and this may have fallen off the radar of many investors, Stavely Minerals also owns the Mt Ararat VMS deposit which contains a resource of 1.3 million tonnes at two per cent copper, 0.5 grams per tonne gold, six grams per tonne silver and 0.4 per cent zinc (as detailed in Stavely Minerals’ 2020 Annual Report).

“We have recently drilled two deeper diamond drill holes under the existing resource at this deposit and we plan to drill a further two deep diamond drill holes another 100 metres below the recent holes.

“A revised Mineral Resource Estimate for Mt Ararat is likely to highlight the opportunity for an additional satellite source of copper-gold-silver and zinc mineralisation which could be included in economic studies for the development of Thursday’s Gossan.

“With a potential emerging discovery at Toora West, the question now becomes will there be three sources of copper mineralisation for a potential development, or will there be even more copper deposits identified with further exploration of our dominant tenure position?

“I’d be happy to take a bet that there will be.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stavely.com.au

 

Web: www.stavely.com.au

 

 

Trigg Mining Reports Maiden Lake Throssell SOP Resource

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THE DRILL SERGEANT: Trigg Mining (ASX: TMG) stamped its credentials for developing a new long-term sulphate of potash (SOP) production hub in the Laverton district of Western Australia with delivery of a substantial maiden Inferred Mineral Resource Estimate (MRE) for the company’s Lake Throssell SOP project in Western Australia.

Trigg Mining reported a Drainable Inferred Mineral Resource for Lake Throssell of 14.21 million tonnes SOP at 4,638mg/L potassium (K) (or 10.34kg/m3 potassium sulphate [K2SO4]) has been estimated based on results from thorough exploration programs completed at the project.

The company explained the only additional data required to increase the confidence category of the MRE to Indicated is test pumping to evaluate additional aquifer properties.

The company also updated its Exploration Target, which it said indicates strong potential to expand this MRE.

The new Exploration Target, in addition to the MRE, has been defined as a range of 2.6 to 9.4 million tonnes at 9.5 to 10.3kg/m3 K2SO4.

“This is a fantastic result for our shareholders which puts Trigg Mining front and centre of the new-generation SOP industry in Western Australia,” Trigg Mining managing director Keren Paterson said in the company’s ASX announcement.

“The maiden 14.2 million tonnes at 10.3kg/m3 SOP Mineral Resource clearly shows that Lake Throssell has the scale and grade to underpin a sustainable long-term SOP production hub, particularly when considering its Tier-1 location and proximity to high-quality energy and transport infrastructure.

“In addition to delivering a sizeable maiden Mineral Resource, we have also demonstrated the upside potential with an updated Exploration Target of 2.6 to 9.4 million tonnes of SOP, encompassing tenements to the north and south which are awaiting grant.

“Together with our Lake Rason project, the company now has a Total Mineral Inventory of more than 20 million tonnes of SOP with substantial upside to expand on this even further.

“The publication of a maiden Mineral Resource for Lake Throssell marks the beginning of an exciting journey for Trigg.

“We will immediately start the next phase of work, which includes a program of trenching and test pumping aimed at converting a portion of the Inferred Mineral Resource to the higher confidence Indicated category.

“This will in turn provide the foundation for a Scoping Study, which we are aiming to complete by the end of this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@triggmining.com.au

 

Web: www.triggmining.com.au

 

 

Comet Resources Issued Drilling Permit for Santa Teresa Gold Project

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THE DRILL SERGEANT: Comet Resources (ASX: CRL) has been permitted for drilling at the company’s Santa Teresa gold project, located near Baja California, Mexico.

Comet Resources received the nod to drill at the Santa Teresa project from the Environmental Impact and Risk department of the Baja California Sub-Delegation for Environmental Protection and Natural Resources.

The company explained the decision allows for commencement of diamond drilling at the project.

Comet is now finalising the details of its proposed Santa Teresa drilling program and engaging a drilling contractor to perform the works, with the aim that the program commences as soon as possible.

The proposed program consists of 2,000m of diamond drilling using experienced contractors from the neighbouring state of Sonora.

Drilling will aim to test extensions of known gold mineralisation zones along strike and at depth, as well as target areas of interest identified by review of prior drilling results, combined with information gained from a detailed structural mapping completed by consultant geologists Minera Cascabel.

This will be followed by assaying and geological interpretation of the results.

“We are very pleased to have received the permit to allow the commencement of drilling at the Santa Teresa gold project in Baja California, Mexico,” Comet Resources managing director Matthew O’Kane said in the company’s ASX announcement.

“We have been preparing for the receipt of this permit, having plans for the drill program near ready, and also having conducted the process of selecting the drilling contractor.

“This should allow us to move ahead quickly now to engage the contractors and commence the drilling program.

“We look forward to providing periodic updates from the commencement of the program to the results once they become available.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au

 

Elementos Reports Further Oropesa Tin Intercepts

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THE DRILL SERGEANT: Elementos (ASX: ELT) reported that recent activity has confirmed further continuity of mineralisation at the company’s Oropesa tin project in Spain.

Elementos is currently undertaking a drilling and optimisation campaign to increase the confidence of the Mineral Resource at the flagship Oropesa tin project that is happening just as falling inventories saw tin prices touch historic highs.

The company received assays for an additional diamond drill hole that was drilled last month, confirming mineralisation of:

Expn_016
2.7 metres at 0.39 per cent tin from 74.3m;
33.3m at 0.22 per cent tin from 92m; and
15.1m at 0.53 per cent tin from 138.4m.

The company explained these results are in addition to 21 diamond drill holes it has previously reported from this program.

Elemontos said the drilling program was now over 70 per cent completed and was on track to complete the company’s objectives.

“The continued rally of the tin price over the last 12 months to over US$34,000 per tonne is providing strong encouragement for the company to rapidly advance the development of the Oropesa project, one of the world’s highest-grade, opencut tin developments.” Elementos CEO Joe David said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@elementos.com.au

 

Web: www.elementos.com.au

 

 

Blackstone Minerals Announces Gold Asset Spin Out

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) caught punters at the 2021 RIU Sydney Resources Roundup on the hop by taking time from its presentation slot to announce that its wholly owned subsidiary, Codrus Minerals, has lodged a Prospectus with ASIC to raise $5 million in new equity via an IPO and ASX Listing.

Codrus Minerals has lodged its IPO prospectus with ASIC to raise a minimum of $5 million and a maximum of $8 million with the aim of becoming a highly prospective gold company with the spin-out of Blackstone’s Western Australian gold assets, including the Silver Swan South project, Red Gate project and the Middle Creek project.

Codrus’ portfolio is also to include the Bull Run project in Oregon USA, consisting of 90 claims in Baker County in Eastern Oregon, prospective for gold and has been mined since 1929.

“We are delighted to announce the IPO Prospectus for Codrus, enabling Blackstone to create shareholder value with a valuation of $7 million in new Codrus shares received from the non-core gold portfolio, while we remain focused on our Ta Khoa nickel-PGE-copper-cobalt project in Vietnam as well as retaining the Gold Bridge project in Canada,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Alchemy Resources Spruiks Drilling Achievements at Karonie

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THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) released news of activities on the company’s Karonie project located directly along strike to Silver Lake Resources (ASX: SLR) Aldiss project and along strike to the south of Breaker Resources (ASX: BRB) Lake Roe gold project.

The release came shortly after CEO James Wilson has spoken with The Resources Roadhouse at the 2021 RIU Sydney Resources Roundup.

WATCH HERE

Alchemy reported that initial drilling at the Parmelia prospect intersected broad zones of silica-altered dolerites with varying amounts of sulphides and quartz veining similar to that seen in holes the company drilled in late 2020.

In addition, extension drilling to the south has intersected target lithologies in holes south of the previous drilling.

At Parmelia, silica altered dolerite as seen in previously drilled up-dip holes was intersected in all five holes drilled.

Holes PARC017 and PARC022 intersected meaningful widths of alteration with associated quartz veins and sulphides which the company believes represents a continuation of the Parmelia mineralised structure down dip in a sub-vertical orientation.

At Warrior, the first holes intersected bedrock geology, with geological logging of hole WARC002 noting intercepts of black shales, silica altered dolerites with quartz veining and pyrrhotite and pyrite, with pyrrhotite mineralisation interpreted to be contributing to the Warrior magnetic anomaly.

“I’m delighted to announce the first holes at Parmelia have intersected some promising down dip structures,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“Visually this looks very similar to what we intersected last year with varying levels of silica alteration, quartz veining and sulphides.

“Importantly the structure is occurring where we predicted, implying a broadly sub-vertical orientation.

“At Warrior, we have also intersected silica altered dolerites accompanied by pyrrhotite mineralisation, which is interpreted to help explain the magnetic anomaly.

“Although its early days, we are very happy with the progress so far on only two of the four zones to be tested as part of the drill program.

“This is an exciting time for the company as we target advanced exploration projects with aggressive drilling.

“Exploration activities are proceeding in line with our 2021 objectives, targeting our existing walk-up drill targets at Karonie.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@alchemyresources.com.au

 

Web: www.alchemyresources.com.au

 

Ardiden to Sell Down Canadian Lithium Assets

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THE BOURSE WHISPERER: Ardiden (ASX: ADV) informed the market of the execution of a binding Tenement Option and Acquisition Terms Sheet granting an option to Great Northern Lithium to buy 80 per cent of Ardiden’s lithium portfolio.

Total consideration for the 80 per cent stake is up to $8.7 million that, should it be exercised, completion of the acquisition will be subject to conditions, including shareholder and regulatory approvals.

Ardiden would retain a 20 per cent free-carry to completion of either a Bankable Feasibility Study (BFS) or Decision to Mine.

“Ardiden has been actively evaluating strategic options to best realise the full potential of its lithium assets,” Ardiden non-executive chairman Neil Hackett said in the company’s ASX announcement.

“The prospect of selling 80 per cent of Ardiden’s lithium portfolio to a new, lithium-focused entity provides an opportunity to accelerate exploration and development of these quality assets within the booming battery metals sector.

“These assets are strategically located near the USA border, with easy access to existing infrastructure.

“If they exercise the option, teaming with experienced lithium developers, while retaining a 20 per cent free carry, enables Ardiden to unlock value for shareholders, while retaining some upside exposure to the battery metals market.”

Great Northern Lithium is a newly formed Australian company led by an experienced team with significant global lithium exploration, mining, production, and offtake expertise that is focussed on exploring and developing hard rock lithium deposits in North America.

The deal will enable Ardiden to focus on gold exploration at its Pickle Lake gold project in north-west Ontario, Canada.

“Monetising 80 per cent of our lithium portfolio provides exploration capital to Ardiden, which will be deployed at its highly prospective package of gold prospects at the Pickle Lake gold project,” Ardiden managing director and CEO Rob Longley said.

“GNL will benefit from our in-country experience and existing relationships with First Nation Communities as well as bringing their own expertise in management, marketing, evaluation and development of these strategically-located spodumene-hosted lithium deposits in a booming North American region for critical metal project development.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ardiden.com.au

 

Web: www.ardiden.com.au

 

Great Boulder Resources Reports Exceptional Mulga Bill Gold Hits

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) garnered some Day Two interest at the 2021 RIU Sydney Resources Roundup with reporting of initial results from Reverse Circulation (RC) drilling at the Mulga Bill prospect within the company’s Side Well gold project in Western Australia.

Highlights from the drilling include:

21MBRC002
6 metres at 31.2 grams per tonne gold from 130m, including 1m at 136g/t gold from 132m, and 3m at 34.5g/t gold from 32m; and

21MBRC003
14m at 2.62g/t gold from 88m, including 4m at 5.86g/t gold from 88m.

“These are stunning results,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“We were initially excited with the AC result in hole 022 because it’s associated with quartz veining high in the weathering profile.

“That immediately draws comparison to the Wilber Lode at Andy Well.

“Resampling that intersection has returned even higher grades.

“To hit six metres at over an ounce per tonne below this zone that is a sensational result.

“Coming on the back of our recent success at Whiteheads, these exceptional results from Mulga Bill validate our approach and the solid technical work we’ve been doing for the past two years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@greatboulder.com.au

 

Web: www.greatboulder.com.au

 

Ionic Rare Earths to Commence Resource Drilling at Makuutu

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THE DRILL SERGEANT: Ionic Rare Earths (ASX: IXR) made its presence felt on Day Two of the 2021 RIU Sydney Resources Roundup by announcing the proposed next phase of drilling at the company’s 51 per cent-owned Makuutu rare earths project in Uganda.

Ionic Rare Earths explained the drill program will aim at increasing the Inferred Resources on RL 1693 to an Indicated Resource category, plus also converting RL 1693 Exploration Targets to classified resources.

The company released a Mineral Resource Estimate in March 2021 of 315 Million tonnes at 650ppm Total Rare Earth Oxide (TREO) with a cut-off grade of 200 parts per million (ppm) TREO minus Cerium Oxide (CeO2).

Drilling is planned to commence shortly, with the first rig secured.

A second rig is being organised to arrive approximately a fortnight later to expedite the initial allocation of infill drilling.

 

 

Email: admin@ionicre.com.au

 

Web: www.ionicre.com.au