Genesis Minerals Drills New Gold Zones

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported new results from ongoing resource extension, in-fill and exploration drilling underway at the company’s Ulysses gold project in Western Australia.

The latest results include assays from the recently identified Puzzle North prospect and the Orient Well deposit.

Puzzle North results include:

21USRC852
16 metres at 1.61 grams per tonne gold from 101m to end of hole;

21USRC853
106m at 0.71g/t gold from 10m, including 16m at 1.54g/t gold from 37m;

21USRC855
41m at 1.2g/t gold from 38m, including 10m at 2.77g/t gold from 62m; and

21USRC855
14m at 2.44g/t gold from 106m to end of hole.

Drilling at Orient Well returned:

21USRC836
37m at 1.07g/t gold from 60m, including 8m at 2.02g/t gold from 70m;

21USRC838
21m at 0.81g/t gold from 121m, including 7m at 1.34g/t gold from 135m;

21USRC839
5m at 2.97g/t gold from 40m; and

21USRC839
1m at 67.8g/t gold from 67m.

Genesis Minerals said the results had continued to highlight the upside potential across the Ulysses project, including the potential to expand existing Resources (including all deposits within the recently acquired Kookynie group of tenements) and make new discoveries.

“The fact that we are continuing to generate exciting results on multiple fronts is testament to the enormous upside at Ulysses,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Recent drilling has identified an exciting new area at Puzzle North, where our initial shallow drilling has already defined a significant zone of shallow mineralisation that already looks like it has the makings of a new deposit.

“We have also firmed up a significant exploration target along the Puzzle granite greenstone contact which could well yield further discoveries.

“The 189,000 ounces Orient Well deposit is also continuing to grow, with successful in-fill and extensional drilling delivering some exciting results.

“Drilling will continue to systematically unlock the broader potential at Ulysses over the coming months, laying the foundations for a further resource upgrade later this year.

“Our development studies are continuing with the Feasibility Study due this quarter.”

 

 

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

 

Matsa Resources Confirms Devon Resource at Lake Carey

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) released a Mineral Resource Estimate for the company’s Lake Carey gold project in Western Australia.

Matsa Resources has confirmed the Initial Devon Mineral Resource Estimate of 80,000 ounces at 4.1 grams per tonne gold, comprising the Devon pit and Olympic prospects.

Although the resource includes only the Devon Pit and the Olympic prospects, the company declared potential exists for expansion as further exploration is conducted across at the Devon project area.

In addition to known structural offsets, the soil sampling conducted by Matsa over the past 6 months has highlighted a number of gold in soil anomalies that are yet to be drill tested.

“The shallow high-grade nature of mineralisation at Devon pit, in particular, lends itself to a potential cutback mining scenario with minimal pre strip requirements, early access to ore and mining studies have commenced,” Matsa Resources said in its ASX announcement.

“The grade and mineralisation are expected to be amenable to both open pit and underground mining methods and may provide a logical add-on to the established mining plan at Fortitude Stage 2.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: reception@matsa.com.au

 

Web: www.matsa.com.au

 

Musgrave Minerals Extends Big Sky Gold Anomaly

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further assay results from regional aircore drilling at the Big Sky prospect within the company’s Cue gold project in Western Australia’s Murchison district.

The Big Sky prospect sits along a newly defined gold corridor south-west of the Lena on Musgrave’s 100% owned ground at Cue.

Recent aircore drilling has now linked Targets 5 and 20 to define a continuous regolith gold anomaly with a strike extent over 1.2 kilometres that has been named Big Sky.

The gold mineralisation remains open to the north and south and down dip.

New intersections include:

21MUAC049
30 metres at 5.8 grams per tonne gold from 30m, including 6m at 27.7g/t gold from 30m; and

21MUAC041
12m at 4.1g/t gold from 42m.

“The aircore drilling is continuing to define strong continuous regolith gold mineralisation along the new gold corridor south-west of Lena under thin transported cover,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The high-grade, strong continuity and near surface nature of the mineralisation is extremely encouraging.

“The regolith gold dispersion is over a broad area with RC follow-up drilling, testing basement targets scheduled to commence next week.

“We currently have three exploration drill rigs on site and a significant drilling program planned for the remainder of 2021.

“RC drilling is also continuing at White Heat.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

New World Resources Hits Best Antler Intersection

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THE DRILL SERGEANT: New World Resources (ASX: NWC) reported high-grade assay results from four recently completed drill-holes at the company’s Antler copper project in Arizona, USA.

Results include those from one of the deepest holes New World has drilled to date in the Main Shoot, delivering one of the best intersections returned from the project to date.

ANTDD202144
25.4 metres at 3.13 per cent copper, 8.91 per cent zinc, 0.27 per cent lead, 19.6 grams per tonne silver and 0.26g/t gold from 559.2m (25.4m at 5.2 per cent copper equivalent).

“ANTDD202144 is one of the best holes we have drilled to date at Antler in value terms,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“Importantly, it’s also one of the deepest holes we have drilled – and continues to demonstrate improving grade and particularly thickness of the mineralisation as we drill deeper below the historic workings.

“We are also continuing to discover additional thick, high-grade mineralisation with exploratory drilling along strike from the Main Shoot, which continues to expand and add confidence to the resource base.

“With drilling consistently delivering substantial thicknesses of very high-grade mineralisation at Antler, the project is continuing to emerge as one of the highest-grade undeveloped copper deposits globally and a very real near-term development proposition.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@newworldres.com

 

Web: www.newworldres.com

 

 

Scott Williamson Blackstone Minerals (ASX: BSX) April 2021

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Blackstone Minerals’ (ASX: BSX) recent exploration success at the company’s Ta Khoa project in North Vietnam combined with strong indicative demand for planned downstream products has led to the company adjusting its current ongoing Pre-Feasibility Study (PFS) to consider some meaningful expansion to the proposed downstream refining capacity.

Ralph Winter Moho Resources (ASX: MOH) April 2021

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Moho Resources (ASX: MOH) commercial director Ralph Winter zoomed into The Resources Roadhouse to provide an update on exploration activities at the company’s Silver Swan North and Burracoppin projects in Western Australia and its Empress Springs project in Queensland.

Azure Minerals Confirms VC-23 Discovery

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported results from drilling recently carried out at the company’s Andover nickel-copper project in Western Australia.

Azure Minerals informed the market the drilling had confirmed that sulphide mineralisation it had observed in diamond drilling at the VC-23 target at Andover returned meaningful nickel and copper assays, intersecting massive, semi-massive and matrix nickel-copper sulphides in multiple holes, including:

ANDD0009
5.8m at 1.12 per cent nickel and 0.71 per cent copper from 69.6m;

ANDD0011
4m at 1.69 per cent nickel and 0.21 per cent copper from 32.7m, including: 1.3m at 3.51 per cent nickel and 0.21 per cent copper from 32.7m;

ANDD0012
7m at 1.35 per cent nickel and 0.45 per cent copper from 95m, including: 2.7m at 2.29 per cent nickel and 0.48 per cent copper from 96m;

ANDD0013
4.4m at 1.17 per cent nickel and 0.61 per cent copper from 84.6m;

ANDD0016
4m at 1.02 per cent nickel and 0.49 per cent copper from 92.3m; and

ANDD0017
0.6m at 1.30 per cent nickel and 0.37 per cent copper from 85.1m.

The VC-23 target is the second of ten targets to be drill tested as part of Azure’s ongoing nickel exploration program at Andover.

The targets were identified by way of high priority surface fixed-loop electromagnetic (FLTEM) and DHTEM surveys. And included the VC-07 discovery target.

“We’ve started 2021 at Andover with strong momentum on several fronts,” Azure Minerals managing director Tony Rovira said in the company’s ASX announcement.

“Drilling continues to expand the substantial body of nickel-copper sulphide mineralisation at VC-07, while our first reconnaissance drilling on another high priority target has resulted in a new discovery of significant nickel and copper sulphides at VC-23.

“Furthermore, the company’s ongoing geophysical exploration continues to identify more prospective targets for drilling, demonstrating the highly prospective character of the entire Andover project.

“The new VC-23 discovery is wide-open for further expansion with the mineralisation remaining open in all directions.

“The downhole electromagnetic (DHTEM) surveying identified multiple off-hole EM conductors that will be a major focus for the next round of drilling.

“With the sulphide mineralisation being remobilised from a primary source, we believe that VC-23 could potentially host a mineralised system similar to that at VC-07.”

 

 

Email: admin@azureminerals.com.au

 

Web: www.azureminerals.com.au

 

Auteco Minerals Hits New Gold Mineralisation on Road to Resource Upgrade

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THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) continued its march towards growing the one million ounces Inferred Resource at the company’s Pickle Crow gold project in Canada.

Auteco Minerals reported further strong drilling results from the project, from which it has claimed discovery of more high-grade mineralisation.

Auteco is well into a 45,000m drill program charged with the key objectives of:

Extending and discovering mineralised vein structures proximal to historic workings and outside of the current Inferred Resource (1Moz at a grade of 11.3g/t gold);

Infill drilling of newly extended or discovered vein structures, with the aim of delivering an updated mineral Resource estimate around 30 June 2021; and

First pass testing of regional drill targets away from the main Pickle Crow deposit.

Recent drilling has identified more high-grade gold veins in a new structure, which will form part of the new Resource estimate.

The intersections in these new veins, which are in the Shaft 3 area, include:

AUDD0102
0.3 metres at 315.4 grams per tonne gold from 41.7m;

AUDD0104
1m at 34.9g/t gold from 191.2m;

AUDD0079
1.2m at 29.7g/t gold from 249.7m in hole;

AUDD103
2.3m at 7.8g/t gold from 39.8m in hole;

AUDD120
0.5m at 33.7g/t gold from 302.2m in hole; and

AUDD107
4.0m at 3.6g/t gold from 432m in hole.

Step-out drilling carried out in the Shaft 3 area extended the known mineralised vein structures, returning results of:

AUDD0119
0.6m at 313g/t gold from 338.8m; (~20m extension to known vein)

AUDD0092
5m at 9.5g/t gold from 46.2m; (~120m extension to known vein)

AUDD102
1.5m at 19.3g/t gold from 250.5m; (~20m extension to known vein)

AUDD085
1.6m at 6.1g/t gold from 168.5m; (~80m extension to known vein)

AUDD112
1.2m at 11.9g/t gold from 382.1m; and (~160m extension to known vein)

AUDD100
1.2m at 8g/t gold from 459.6m. (~70m extension to known vein)

“These results show that our strategy to grow the one million ounces Inferred Resource is on track,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“We are discovering new high-grade veins and extending the known size of those we found earlier.

“These results will form part of the Resource update set for completion in this quarter.

“As part of our growth strategy, we are now putting a strong emphasis on drilling within areas of known high-grade mineralisation to bring them into the Resource model.

“These areas are exciting because we have already established the presence of high-grade mineralisation and we just need to confirm its continuity in order to include it in the Resource.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

RareX to Drill High-Grade Extensional Targets at Cummins Range

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THE DRILL SERGEANT: RareX (ASX: REE) is set to commence a major new exploration drilling program at the company’s 100 per cent-owned Cummins Range rare earths project, located in the Kimberley region of Western Australia.

RareX informed the market that the upcoming phase of exploration will comprise more than 6,000 metres of reverse circulation (RC) and diamond drilling and comes on the back of drilling completed in 2020 as well as a thorough geological review of the Cummins Range deposit that was undertaken by RareX geologists over the wet season.

Subsequently, a revised geological model has been established, based largely on the 58 RC drill holes that were completed in August-October 2020, identifying new high-grade exploration targets.

The new interpretation has established the presence of pre-existing high-grade fault structures that represent high-priority exploration targets with the potential to substantially change the scale of the Cummins Range project.

This new understanding has formed the basis of the upcoming RC and diamond drill program planned to commence in late April.

“The work undertaken over the wet season by the RareX geological team has the potential to be a game-changer for the Cummins Range project, building on its existing attributes as an advanced, high-quality rare earths project in a Tier-1 mining jurisdiction with the ability to yield a premium product,” RareX managing director Jeremy Robinson said in the compan’ys ASX announcement.

“If the new geological interpretation is confirmed, the upcoming drilling has the potential to dramatically expand the scale of the deposit and delineate a significant volume of new high-grade material.

“We are looking forward to what the upcoming drilling can deliver.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@rarex.com.au

 

Web: www.rarex.com.au

 

 

Panoramic Resources to Restart Savannah Nickel Operation

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THE BOURSE WHISPERER: Panoramic Resources (ASX: PAN) announced it is to restart the company’s Savannah nickel operation, located in the Kimberley region of Western Australia.

Panoramic Resources said it had made the decision following a rigorous assessment process and 12 months of activities designed to reduce operating and financial risk for the operation as well as improving expected profitability.

The upshot from all this is a 12-year mine life with an average annual production target1 of 9,072 tonnes nickel, 4,683 tonnes copper and 676 tonnes cobalt in concentrate.

“It is pleasing to see that Savannah, one of the most advanced nickel sulphide development asset in Australia, is forecast to come into production as the battery thematic continues to grow worldwide,” Panoramic Resources managing director and CEO Victor Rajasooriar said in the company’s ASX announcement.

“We learnt many lessons in the lead up to the temporary suspension of operations at Savannah in April 2020, amid the onset of the COVID-19 pandemic.

“Since that time, we have recapitalised the business and undertaken a range of planning and site-based initiatives to put the operation in a much stronger position for restart.

“This process of optimisation combined with the improved outlook for Savannah’s high-quality nickel, copper and cobalt products, has given the Board confidence in approving the restart with a target of first shipment from Wyndham Port by the end of 2021.

“By engaging a contractor for both the underground mining and processing at Savannah, we are significantly reducing the human resourcing risk in a tightened labour market, which proved to be one of the key challenges encountered at Savannah during 2018 and 2019.

In support of the restart, Panoramic has entered into a new five-year nickel and copper concentrate offtake agreement for the period February 2023 to February 2028 with Trafigura Group Pte Ltd, with the deal set to commence in line with the expiry of an existing offtake agreement with Jinchuan.

Trafigura has also agreed to provide a US$45 million secured loan financing facility which, combined with revenue projections, is expected to fully cover the costs of the restart.

“The new offtake agreement and loan financing facilities with Trafigura are a critical piece of the restart,” Rajasooriar continued.

“The financing package avoids any dilutive equity raising by providing what we expect to be sufficient working capital to support a smooth ramp-up.

“The offtake agreement with Trafigura follows a competitive tender process and has terms which overall are more attractive than our current contract which is scheduled to expire in February 2023.

“Production from Savannah is now committed until February 2028, or for about half of the current 12-year mine life.”

Panoramic has a current cash balance of approximately $27 million and no debt.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@panres.com

 

Web: www.panoramicresources.com