Zenith Minerals to have Earaheedy Zinc Project Fast Tracked

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THE DRILL SERGEANT: Zenith Minerals (ASX: ZNC) announced it will be fast tracking its Earaheedy zinc discovery via an extensive accelerated exploration program, including RC and large diameter diamond core drilling to test the scale and extent of the discovery.

The good news for Zenith Resources is that the exploration program is to be solely funded by project Joint Venture partner Rumble Resources, which was also in the news recently for its Earaheedy zinc-lead Chinook discovery.

Rumble announced a $40 million capital raising that will fund the drilling.

Zenith holds a 25 per cent interest in the Earaheedy Joint Venture and is free carried until completion of a Bankable Feasibility Study.

“We welcome the news that RTR are going to fast track the Earaheedy zinc discovery with an extensive accelerated exploration program underpinned by their $40 million capital raise,” Zenith Resources chairman Peter Bird said in the company’s ASX announcement.

“We look forward to working with the Rumble team in unlocking the value of this exciting discovery for the benefit of the shareholders of both groups.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@zenithminerals.com.au

 

Web: www.zenithminerals.com.au

 

Azure Minerals Extends Strike and Depth at Andover

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) encountered massive, semi-massive and matrix nickel-copper sulphides during on-going exploration and resource definition drilling campaign at the VC-07 prospect on the company’s Andover nickel copper project located in the West Pilbara region of Western Australia.

Latest results include:

ANDD0014
11.6 metres at 1.01 per cent nickel Ni and 0.32 per cent copper from 455.9m;

ANDD0015
33.1m at 1.02 per cent nickel and 0.53 per cent copper from 434.5m, including: 16.7m at 1.67 per cent nickel and 0.88 per cent copper from 434.5m;

ANDD0020
15.4m at 1.05 per cent nickel and 0.66 per cent copper from 376.1m; and

ANDD0021
14.8m at 1.77 per cent nickel and 0.69 per cent copper from 176.1m, including: 5.8m at 2.81 per cent nickel and 0.67 per cent copper from 176.1m.

“The mineralised body has now been defined over a continuous east-west strike length exceeding 300 metres with mineralisation extending from near-surface to more than 500 metres below surface,” Azure Minerals said in its ASX announcement.

“DHTEM conductors associated with the sulphide mineralisation continue to extend down-dip below the deepest drill holes, indicating the significant depth potential of the VC-07 mineralised body.”

To support and advance exploration across the Andover project area, Azure recently completed a close-spaced, high resolution aerial magnetic survey.

Data from the survey is currently being processed and will help advance the understanding of the Andover layered mafic-ultramafic intrusive complex and refine target areas for future exploration.

Diamond drilling continues to test the down-dip and western strike extensions of the VC-07 mineralised system and in-fill drilling is on-going to ensure the hole spacing will be suitable for the mineral resource estimation process.

 

 

Email: admin@azureminerals.com.au

 

Web: www.azureminerals.com.au

 

Dreadnought Resources Identifies Regional Illara Targets

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) announced results of a regional soil sampling program undertaken at the company’s Illaara project in Western Australia.

Dreadnought Resources has analysed over 11,000 soil samples, generating a range of new gold and base metal targets.

The company has follow up mapping and surface sampling underway with an aim to have targets defined for drill testing in the December quarter of 2021.

New targets include five more advanced anomalies:

CRA Homestead, Spitfire and Defiance gold anomalies;
Nelson base metal anomaly; and
Lawrence’s Corridor swarm of pegmatites with anomalous LCT values.

“Before this regional soil program, only portions of the Metzke’s, Lawrence’ s and Central Illaara areas had been covered with first pass soil sampling,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“This program has successfully identified a number of new gold corridors in different lithostructural settings to the Metzke’s and Lawrence’s Corridors.

“Encouragingly, a new base metal VMS target, Nelson, has been defined with the strongest base metal-in-soil anomaly to date.

“The program also highlighted a strong and coherent lithium-caesium-tantalum anomaly within the Lawrence’s Corridor.”

 

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@dreadnoughtresources.com.au

 

Web: www.dreadnoughtresources.com.au

 

St George Mining Identifies New Massive Sulphide Targets

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THE DRILL SERGEANT: St George Mining (ASX: SGQ) has identified multiple new targets for nickel-copper sulphides at the company’s high-grade Mt Alexander project in the north-eastern Goldfields of Western Australia.

St George Mining explained that earlier ground-based EM surveys completed along the Cathedrals Belt had identified shallow EM conductors that resulted in subsequent nickel-copper sulphide discoveries at Stricklands, Investigators, Cathedrals and Radar.

However, the ground-based EM surveys were of limited effectiveness at West End because of the conductive cover to the west of Investigators.

The company has now completed a high-resolution ground gravity survey over West End and Investigators that has provided new data that supports the prospectivity of the area for nickel-copper sulphides.

“The results of the gravity survey are very exciting and could provide a great advance in the targeting of nickel-copper sulphides in the Cathedrals Belt,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“A number of the gravity features are compelling drill targets for massive sulphides.

“These gravity highs are located within the interpreted trend of the mineralised intrusive host unit, an ideal location for dense massive sulphides.

“The concurrent use of downhole EM and drilling is continuing to provide a vector to mineralisation at depth.

“The multiple EM plates modelled around the new high-grade discovery in MAD199 support the potential for further high-grade mineralisation in this area.”

St George indicated an additional drill program is being planned to test the new gravity features.

The targets are in areas with no previous drilling, which requires earthworks and access routes to be prepared prior to drilling, requiring approval of a new Program of Works.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

Brett Smith Corazon Mining (ASX: CZN) April 2021

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Corazon Mining (ASX: CZN) has used new technology to identify new drill targets leading to a new ground acquisition at the company’s Lynn Lake nickel project in Canada. The company’s managing director Brett Smith zoomed into The Resources Roadhouse to tell us how its follow up of the oldest technology – drill rigs – has progressed.

Ian Bamborough Saturn Metals (ASX: STN) April 2021

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Saturn Metals (ASX: STN) upgraded the Resource at the company’s Apollo gold deposit in January and is hoping to repeat that effort later in the year following some recent drilling success to be backed up by further exploratory drilling. Saturn Metals managing director Ian Bamborough zoomed into The Resources Roadhouse to provide an update.

Magnetic Resources Raises funds to Continue Drilling at Laverton Projects

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THE BOURSE WHISPERER: Magnetic Resources (ASX: MAU) has received binding commitments for approximately $2.6 million via a placement of approximately 1.83 million new shares at $1.42 per share.

Magnetic Resources indicated the funds raised will be predominately used at the company’s Hawks Nest 9 and Lady Julie projects for additional RC and deeper diamond drilling, metallurgical work, resource and scoping studies to advance the company’s gold projects.

“We continue to intersect significant gold mineralisation in our drilling at both the Hawks Nest 9 and Lady Julie projects, and we remain encouraged by the mineralisation showing up in our two thickened mineralised zones and the new targets from the seismic interpretation,” Magnetic Resources managing director George Sakalidis said in the company’s ASX announcement.

“These funds will allow the company to continue the significant drilling campaigns we started in January 2021 with the aim of defining JORC at these two projects.

“Our drilling to date has shown four stacked lodes in the top 100 metres and our ongoing drilling will investigate mineralisation at depths down to 300 metres to 400 metres.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@magres.com.au

 

Web: www.magres.com.au

 

Coda Minerals Extends Copper-Cobalt Mineralisation at Emmie Bluff

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THE DRILL SERGEANT: Coda Minerals (ASX: COD) reported the final round of assay results from its two-phase, 17-hole diamond drill program at the Emmie Bluff prospect, part of the company’s Elizabeth Creek project located in the Olympic Copper Province in South Australia.

Coda Minerals is the operator and majority owner of the Elizabeth Creek project, holding a 70 per cent interest alongside Torrens Mining (ASX: TRN) with 30 per cent.

The company declared the most recent round of assays as some of the highest-grade intercepts it has encountered at Emmie Bluff to date.

The best assays from the most recent round include:

DD21EB0012
2.24 metres at 3.19 per cent copper equivalent (CuEq) (1.82% copper, 1,139ppm cobalt and 24g/t silver);

DD21EB0013
3m at 4.71 per cent CuEq (2.85% copper, 1,545ppm cobalt and 27g/t silver); and

DD21EB0014
2.13m at 3.53 per cent CuEq (2.08% copper, 1,212ppm cobalt and 28g/t silver).

Coad Minerals said the new assays, together with previously announced results, continue to strongly validate the Emmie Bluff Exploration Target and support the company’s goal of completing a maiden JORC 2012 Mineral Resource Estimate for the deposit in Q3 2021.

“The consistent drilling results generated within the Exploration Target area have further reinforced our confidence in the scale and robustness of the mineralisation at Emmie Bluff,” Coda Minerals CEO Chris Stevens said in the company’s ASX announcement.

“In particular, the strong results from hole DD21EB0012 confirm the potential both to extend the mineralised envelope beyond the bounds of the Exploration Target and show the potential for excellent grades in these extensions.

“With our final assays now received, our focus is firmly on our third phase of drilling, which will commence next month – paving the way for a maiden Inferred Mineral Resource Estimate by late next quarter.”

 

 

 

Email: info@codaminerals.com

 

Web: www.codaminerals.com

 

 

Ausgold Raises $11.25M to Advance Katanning Gold Project

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THE BOURSE WHISPERER: Ausgold (ASX: AUC) announced commitments from institutional and sophisticated investors for a share placement to raise $11.25 million.

Ausgold indicated the raising, at 4.5 cents per share, would fund continued exploration and Resource expansion drill at the company’s 100 per cent-owned Katanning gold project in Western Australia.

The company received strong demand for the Placement from institutional and sophisticated investors, corner stoned by Dundee Goodman Merchant Partners, which will increase its interest in Ausgold from 7.1 per cent to 9.9 per cent.

“The company is pleased with the level of support we have received from our cornerstone investor Dundee Goodman and from existing and new investors,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“This placement of $11.25 million now enables Ausgold to progress through a transformational period.

“With the release of the upgraded KGP Resource of 1.54 million ounces at a grade of 1.25 grams per tonne gold, we have a meaningful foundation that underpins our ambition to unlock the scale of the Katanning Gold Project.

“Our new geological model and exploration plan in a whole of belt play is designed to add further high-grade Resource ounces.

“It is an exciting time to be an Ausgold shareholder.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Xanadu Mines Conducts $10.2 million Placement for Kharmagtai High Grade Exploration

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THE BOURSE WHISPERER: Xanadu Mines (ASX: XAM) is raising an impressive $10.2 million to advance the company’s Kharmagtai copper-gold project, located in the Omnogovi province of Mongolia.

Xanadu Mines announced it has received firm commitments for a placement to eligible professional and sophisticated investors of approximately 163.8 million fully-paid ordinary shares at an issue price of 6.2 cents each to raise approximately $10.2 million.

The company explained the proceeds of the placement, together with existing cash resources, will be applied towards the Kharmagtai Phase 2 exploration program in accordance with its strategy to target higher-grade, bornite rich zones at depth and for general working capital purposes.

“We are pleased with the strong support received from both existing shareholders and new institutional investors,” Xanadu Mines non-executive chairman Colin Moorhead said in the company’s ASX announcement.

“This Placement continues to strengthen our share register and fully funds Xanadu to execute its exploration strategy at Kharmagtai.

“Investors can look forward to a period of strong exploration news flow as we embark on an aggressive drilling program to define the higher grade, gold-rich bornite zones at depth and unlock the next stage of development in this globally significant copper-gold project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@xanadu.com

 

Web: www.xanadu.com