Great Boulder Resources Follows Rumble into Earaheedy Basin

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THE BOURSE WHISPERER: Great Boulder Resources (ASX: GBR) has secured a major land position in the Earaheedy Basin, east of Wiluna in Western Australia.

Great Boulder Resources is following the example set by Rumble Resources, which this week announced its discovery of a major zinc-lead discovery at its Earaheedy project.

GBR lodged three new tenement applications over a second zinc-lead target identified to the southeast of Rumble’s project, to be named the Wellington project.

The new tenements exemplify nearology as they overlie the prospective Frere Formation within the Proterozoic Earaheedy Basin, with targets generated by GBR from analysis of publicly available geochemical data sets.

Great Boulder first identified prospective areas in the Earaheedy Basin in mid-2020 during a desktop study of the province’s regional potential, following initial promising drill results by Rumble.

The potential of the region was further validated by Rumble’s recent results which underpin a shallow, large-scale exploration target of 40 to 100 million tonnes at 3.5 per cent to 4.5 per cent zinc and lead over 40km of strike.

The new GBR tenement position covers an area of 1,134 square kilometres, including more than 60km of strike highlighted by pathfinder geochemistry.

This is a similar target scale to the early-stage exploration data that led to Rumble’s major discovery.

“This is an exciting development for Great Boulder as it gives us a massive landholding with a compelling large-scale target over a major new zinc-lead province in Western Australia,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“Having previously completed the targeting study during 2020 we were following Rumble’s progress closely, and we were able to act quickly on Monday to secure these tenements as soon as the scale of Rumble’s discovery became apparent.

“This doesn’t impact any of our current exploration priorities in the medium term.

“In effect, it’s a free option over an emerging, world-class base metals province that has the potential to add serious value to our project portfolio.”

 

 

Email: admin@greatboulder.com.au

 

Web: www.greatboulder.com.au

 

Eagle Mountain Mining to Double Drill Rigs at oracle Ridge

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) has decided to up the pace of drilling at the company’s Oracle Ridge project in Arizona, USA.

Eagle Mountain Mining has been drilling since September 2020 with one drill rig on a 20 day on, 10 day off roster on both day and night shifts and is now adding a second drill rig to the mix.

The planned increase in diamond drilling includes a transition to a continuous drilling schedule to maximise productivity.

The company explained the decision to accelerate diamond drilling at Oracle Ridge was supported by multiple strong assay and drilling results and an increasing pipeline of high priority targets within a few kilometres of the existing underground mine portals.

“Our recent drilling and exploration results at Oracle Ridge indicate the very strong potential for Oracle Ridge to host increased levels of mineralisation,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“We have recently completed extensive earthworks to improve access and establish suitable drill pads in preparation for our accelerated drilling program.

“Since commencing drilling in September 2020, more than 90 per cent of the holes assayed outside the existing JORC Resource have intersected mineralisation above our cut-off grade.

“We are also building a strong pipeline of targets including the recently announced high-grade copper mineralisation outcropping at the OREX prospect along a four-kilometre contact.

“These results give us confidence to accelerate our drilling with the aim of increasing our existing JORC Resource and evaluating the extraordinary potential of the near-mine area.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@eaglemountain.com.au

 

Web: www.eaglemountain.com.au

 

Alicanto Minerals Scores Hits in Fist Greater Falun Drill Holes

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THE DRILL SERGEANT: Alicanto Minerals reported on the first holes drilled at the company’s Greater Falun copper-gold-silver project in Sweden.

Alicanto Minerals said the holes returned shallow, high-grade assays from the Swamp Thing and Heden prospects, which sit within 15 kilometres of the Falun copper-gold mine that was closed in 1992.

The company considers the results as particularly important because they also support Alicanto’s belief that Greater Falun is a Skarn system, not Volcanogenic Massive Sulphides (VMS).

“These are genuinely high-grade results, and they are an outstanding start to our exploration campaign,” Alicanto Minerals managing director Peter George said in the company’s ASX announcement.

“The grades point to the potential for an extensive mineralised system, they are shallow and they support Alicanto’s view that Greater Falun is not a VMS as long thought but is actually a skarn-hosted system.

“This is a major breakthrough because it shows we are on track to crack the code, which could open the door to a world-class system.

“Our geological model, which is based on extensive mining history in the area, our detailed mapping and now these initial drilling results shows there is potential for a large system with areas of very high-grade mineralisation.

“This information is driving the new 20,000 metres drilling program now underway.

“We have two diamond rigs turning at Falun, a third being mobilised to Sala and we expect to have a far more detailed picture of the project over the next few months.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

Centaurus Metals Sets Up Next Stage of Jaguar Resource Growth

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THE DRILL SERGEANT: Centaurus Metals has made further inroads towards becoming a global nickel sulphide developer at the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of northern Brazil.

Centaurus hit the market with the announcement of an updated JORC 2012-compliant Indicated and Inferred Mineral Resource Estimate (MRE) of 58.6 million tonnes at 0.95 per cent nickel for 557,800 tonnes of contained nickel for the Jaguar project.

“This reinforces the quality of the Jaguar project as a globally significant, near-surface nickel sulphide deposit with outstanding potential for continued growth,” Centaurus Metals managing director Darren Gordon said.

“It is also a fitting reward for the efforts of our exploration team, who have done a great job in advancing our drill programs.”

Broken down, the MRE update included a 50 per cent increase to the Indicated component of the Resource, which now sits at 19.9 million tonnes at 1.12 per cent nickel for 223,400 tonnes of contained nickel, with this Indicated component now representing 40 per cent of the global MRE.

Of note, the grade of the Indicated component is almost 20 per cent higher than the global MRE grade, demonstrating the quality of this higher geological confidence mineralisation to support early payback in any future mining operation at Jaguar.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: office@centaurus.com.au

 

Web: www.centaurus.com.au

 

 

Aeris Resources Increases Gold Count at Cracow Project

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THE DRILL SERGEANT: Aeris Resources (ASX: AIS) reported an updated Mineral Resource for the combined Klondyke and Royal deposits at the company’s 100 per cent-owned Cracow gold operations in Queensland.

The updated Mineral Resource estimate of 341,000 tonnes at 3.6 grams per tonne gold for 39.5 thousand ounces of gold represents a 324 per cent increase in total contained gold ounces, compared to the Mineral Resource Aeris previously reported in June 2020.

The company explained the material change in reported Mineral Resource is the result of a revision of the geological information and additional gold mineralisation identified in the June 2020 drilling program.

“We have always been confident that there is more gold to be found at Cracow, either from exploration activities, including drilling, or by challenging the paradigms around what is economically mineable,” Aeris Resources executive chairman Andre Labuschagne said in the company’s ASX announcement.

“The significant increase in the Mineral Resource at the Klondyke and Royal deposits confirms our view.

“Work has commenced to schedule the upgraded Klondyke-Royal deposits into the Cracow Life of Mine Plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@aerisresources.com.au

Web: www.aerisresources.com.au

 

Gascoyne Resources Bounces Back for Admirable Quarter

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THE DRILL SERGEANT: Gascoyne Resources made a triumphant return to the boards of the ASX after coming out of administration exile in October 2020.

During the initial post-administration period, the focus of the company was on solidifying its business plan and reinvigorating the organic growth pipeline for the company’s 100 per cent-owned Dalgaranga gold project through exploration activities.

Gascoyne Resources has commenced a program to install more mature environmental, social and governance (ESG) policies, processes and reporting.

The company’s March Quarterly Report highlighted how well it has bounced back, including highlights of:

Free cash flow generation of $9.4 million for the quarter;
19,203 ounces produced for the quarter; 59,899 ounces FY2021 year to date;
19,073 ounces sold at an average realised price of $2,495 per ounce;
AISC $1,114 per ounce for the quarter; $1,224 per ounce financial year to date; and
On track for upper end of FY2021 production guidance of 70,000 to 80,000 ounces at an AISC of $1,200 to $1,300 per ounce.

“We…remain on track to meet the upper end of production guidance for FY2021 of 70-80koz at an AISC of $1,200 – $1,300/oz,” Gascoyne Resources managing director and CEO Richard Hay said.

“Paying down $19 million of debt further strengthened the balance sheet with net cash of $9.5 million and a cash balance of $27 million.

“Our FY2021 exploration budget was doubled during the quarter and early drilling success at Tanqueray was a highlight, with an intersection of 9m at 7 grams per tonne in one RC hole.

“Assay results have been slow to come in due to the industry wide very high laboratory demand, and we look forward to reporting more results in the June quarter.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@gascoyneresources.com.au

Web: www.gascoyneresources.com.au

 

Gold Road Resources Enjoys robust March Quarter

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THE DRILL SERGEANT: Gold Road Resources submitted a healthy March quarterly report from the Gruyere gold mine Joint Venture with Gruyere Mining Company, a member of the Gold Fields Group, which manages Gruyere.

Gruyere produced 66,213 ounces of gold enabling Gold Road to deliver its March 2021 quarter production at an AISC of $1,386 per attributable ounce.

Gruyere ore tonnes processed totalled 2.1 million tonnes at a head grade of 1.12 grams per tonne gold and a gold recovery of 91.2 per cent with gold in circuit increasing by 3,127 ounces during the quarter.

All this while scheduled plant shutdowns were undertaken for relines of the SAG mill and the Ball mill, along with an upgrade to the Pebble Crushing Circuit.

During the March quarter, Gold Road reported a 50 per cent attributable Maiden Underground Inferred Mineral Resource of 18.5 million tonnes at 1.47g/t gold for a total of 0.87 million ounces of gold from beneath the December 2020 Gruyere Open Pit Resource of 156 million tonnes at 1.34g/t gold for 6.71 million ounces.

Progress continues towards an updated Gruyere Ore Reserve, expected in the second half of 2021.

Geotechnical studies indicate the potential to steepen fresh rock open pit slopes by up to four degrees.

The steeper pit slopes are anticipated to support growth of the open pit Ore Reserve.

Gold Road currently has four drill rigs operating at it 100 per cent-owned Yamarna project and another operating at Yandina (88%) as the company continues to actively explore for a meaningful discovery.

As part of an initial assessment of the longer-term underground potential, the Gruyere JV partners commence diamond drilling to target mineralisation below the reported Mineral Resources at Gruyere.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: perth@goldroad.com.au

 

Web: www.goldroad.com.au

 

Eagle Mountain Mining Identifies Extensive Outcropping Mineralisation at Oracle Ridge

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported results of a field mapping program at the OREX prospect, part of the company’s 80 per cent-owned Oracle Ridge mine project in Arizona.

Eagle Mountain conducted the latest detailed mapping project based on encouraging results the company gained from an initial field mapping program carried out at OREX in 2020.

The recently completed field program confirmed the extensive occurrences of outcropping skarn hosted copper-silver-gold mineralisation along the lower contact of the Leatherwood intrusive and the skarn horizon.

Over 100 grab samples were collected with many returning high-grade mineralisation, including:

10.6 per cent copper, 29.5 grams per tonne silver
8.17 per cent copper, 71.3g/t silver, 0.48g/t gold
8.08 per cent copper, 30.9g/t silver, 0.23g/t gold
8.06 per cent copper, 39.1g/t silver
6.64 per cent copper
6.31 per cent copper, 0.45 g/t gold
6.21 per cent copper, 59.6 g/t silver

The company observed limestone formations and resulting skarn to be like those encountered at the Oracle Ridge mine.

“These results illustrate the prospectivity of the OREX prospect which covers an area greater than at the Oracle Ridge mine,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“Following an initial geological review in 2020, we staked a significant package of prospective land to the south-east of the Oracle Ridge mine now known as OREX.

“This latest field program on OREX concluded that the lower contact of the Leatherwood granitic intrusive has abundant outcropping copper skarn.

“Our interpretation is that the limestone units which host the mineralised skarn were intruded by the Leatherwood granite, therefore the bottom of the Leatherwood at OREX is highly prospective for further mineralisation.

“We have commenced a detailed drone aeromagnetic geophysical survey over OREX to assist us in defining priority drill targets.”

 

 

Email: info@eaglemountain.com.au

 

Web: www.eaglemountain.com.au

 

Corazon Mining Identifies Multiple Conductors at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) reported news from the first phase of a 2021 drilling campaign at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba Province, Canada.

Corazon completed three holes in this phase of drilling at Lynn Lake, which the company said has resulted in a successful first-pass test of a new target area west of the Fraser Lake Complex (FLC).

Drilling also confirmed the technology used to identify the new drill targets – MobileMT’s effectiveness in identifying areas most favourable for magmatic nickel-copper-cobalt sulphides at Lynn Lake.

All holes drilled within the target area west of the FLC intersected favourable host rocks and extensive indications of magmatic sulphide mineralisation.

“The aerial MobileMT geophysics identified a large area of conductance, previously not recognised as prospective for nickel-copper sulphides,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“Our first round of drilling in this area intersected the right rocks and some good magmatic sulphides that enhances the potential of the target area.

“Now, with the detailing of DHEM conductors of a good size, that support the MobileMT interpretations, we have expectations that this large conductive trend to the west of the Fraser Lake Complex has the makings of a nickel-copper sulphide target area similar in size to the Lynn Lake mining centre.”

With drilling now complete, Corazon is conducting a DHEM program of holes on this phase and previous phases of drilling.

The company believes DHEM will more accurately define conductive bodies close to drill holes, within larger areas of anomalism defined by the aerial surveys.

 

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Ausgold Upgrades Katanning Gold Resource to 1.54Moz

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THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) announced a substantial upgraded JORC 2012 Mineral Resource estimate for the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

The new Resource totals 1.54 million ounces of gold and represents a 28 per cent increase in total contained ounces and a 14 per cent increase in grade, from the company’s previous Resource estimate released in 2019.

Ausgold explained this assessment was undertaken from the Central Zone Resource area, which extends along a 4.5km strike length.

This Resource area includes the stacked Jinkas, White Dam, Olympia and Jackson lodes.

The total Resource includes the Dingo and Datatine deposits which remain unchanged from the 2019 estimation.

“The new Resource has added 338,670 ounces, an increase of 28 per cent to the previous Resource Estimate with an increased overall grade of 14 per cent which now stands at 1.25 grams per tonne gold and is underpinned by a very low discovery cost of $15 per ounce,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“The upgraded Resource also incorporates over 31,000 metres of new drilling and is based on an improved geological model that has substantially increased the Measured and Indicated Resource to over 72 per cent of total ounces.

“In addition, we now for the first time report a high-grade underground Resource.

“The new geological model highlights clear extensions of gold mineralisation which remain open at depth.

“There has been limited drilling below a depth of 250 metres, which provides meaningful potential to further expand the underground potential Resource.

“This Resource upgrade provides critical mass to the KGP and supports Ausgolds strategy to develop ae standalone mining operation focused on the Central Zone.

“Importantly, it also shows the exploration potential within the Resource areas and regionally to significantly increase the scale of the Katanning Gold Project with targeted exploration.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com