Comet Resources Acquires Northern Territory Copper-Gold Portfolio

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THE BOURSE WHISPERER: Comet Resources (ASX: CRL) has entered into a Binding Option Agreement to acquire a portfolio of highly prospective copper-gold-zinc-silver-lead assets in the Northern Territory.

Comet Resources has paid a non-refundable deposit of $50,000 to Bath Resources for a 45-day exclusive option over the portfolio that includes the Oonagalabi copper-zinc project, Paradise Well copper-gold prospect and the Silver Valley copper-gold-silver-lead prospect, which cover a combined land holding of approximately 840 square kilometres.

Oonagalabi includes best intersections from historical drilling of:
36.6 metres at 1 per cent copper and 1.7 per cent zinc from 1.5m,
5m at 1.26 per cent copper and 1.22 per cent zinc from 70m,
6m at 0.9 per cent copper from 102m, and
14m at 0.7 per cent copper from 148m

Paradise Well rock chip samples returned up to 8.9 per cent copper and 2.2 grams per tonne gold, Silver Valley rock chip samples returned 554g/t silver, 20 per cent lead, 11.9 per cent copper and 2g/t gold, providing earlier stage exploration potential.

“This portfolio combines both advanced and early stage copper, gold and base metals targets,” Comet Resources managing director Matthew O’Kane said in the company’s ASX announcement.

“Being located in Australia they complement our existing copper and base metals project at Barraba in New South Wales, and provide Comet increased exposure to copper upside, which we believe will continue to strengthen as a result of increased global infrastructure spending and the transition to clean energy.

“With our recent placement, we are funded to explore all our existing projects as well as this latest exciting acquisition.”

 

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au

 

Kin Mining Confirms Bruno-Lewis Quality Ahead of Resource Upgrade

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported further assay results from recent in-fill Reverse Circulation (RC) drilling at the Bruno-Lewis deposit, a cornerstone deposit of the company’s 100 per cent-owned Cardinia gold project (CGP) in Western Australia.

Kin Mining declared the results to include several outstanding, wide, high-grade intercepts at shallow depth plus several broader, lower grade zones.

Drilling encountered zones of shallow high-grade mineralisation such as:

BL20RC142
16m at 6.33 grams per tonne gold from 19m;

BL20RC145
4m at 7.68g/t gold from 9m;

BL20RC150
5m at 2.2g/t gold from 35m;

BL20RC151
4m at 2.37g/t gold from 18m; and

BL20RC158
6m at 2.25g/t gold from 49m.

The company said it has now confirmed the quality of the Bruno-Lewis deposit, demonstrating strong potential to upgrade and expand the current 311,000 ounces Mineral Resource Estimate as part of an updated MRE currently in progress.

“These outstanding high-grade results from the northern half of the Bruno-Lewis deposit confirm and reinforce the earlier impressive results we saw from Bruno-Lewis earlier this year, and indeed which we have seen from the wider Cardinia area over the past 12 months,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“While we knew that the north-east dipping lodes that we targeted with this drilling were the source of the wide zones of generally lower grade mineralisation further south at Lewis, intersecting broad high-grade zones at the Bruno end of the deposit, and over a substantial strike length, is an extremely pleasing outcome and reflects the excellent work carried out by the geological team.

“These results provide further clear evidence of the enormous prospectivity of the Cardinia area in general and at Bruno in particular.

“This sector of the deposit contains significant widths of high-grade mineralisation both close to surface and at depth.

“These final Phase 3 drilling program results continue to demonstrate the exceptional endowment and enhance the underlying value of the Cardinia gold project.

“This drilling will be incorporated as part of a new Mineral Resource Estimate for Bruno-Lewis scheduled for completion in late April, which is expected to enhance our project-wide Mineral Resource inventory beyond the 1.15 million ounces figure announced in December 2020.

“With the Bruno-Lewis drilling now complete, we are moving ahead with the Phase 4 program which will test a number of exciting new exploration targets in 2021.

“Many of these have similar geology, alteration and mineralisation indicators to those tested during 2020.

“We currently have three rigs active on site, which will systematically test seven new targets in the Eastern Corridor, which contains the Helens and Cardinia Hill deposits, and the large, soil geochemical target at Eagle to the west of Cardinia.

“We are looking forward to another big year at Cardinia, punctuated by regular updates with drilling results, resource updates and, we hope, discovery success!”

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

 

Cyprium Metals Eyes Shallow Copper and Gold in First Nanadie Well Holes

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) released the first results from an exhaustive RC drilling program completed at the company’s Nanadie Well copper-gold project in Western Australia.

Highlights from the results include:

NWRC21018
45 metres at 0.9 per cent copper and 0.2 grams per tonne gold from 2m, including 11m at 1.8 per cent copper and 0.4g/t gold from 16m, including 2.0m at 3.5 per cent copper and 1g/t gold from 16m

NWRC21016
7m at 1.1 per cent copper and 0.2g/t gold from 29m, including 3m at 2.1 per cent copper and 0.4g/t gold from 31m, and 2m at 2.5 per cent copper and 1g/t gold from 40m.

Previous work by the company has shown near-surface supergene mineralisation at the Nanadie Well Copper-gold project that is open along strike to the north and south, as well as to the west.

Cyprium’s recent 3,500m Nanadie Well Phase 1 RC drilling program was undertaken to test the oxide and supergene mineralisation at the deposit.

The company intends to use results from the Phase 1 and subsequent drill programs in the preparation of a JORC 2012 compliant mineral resource estimate for Nanadie Well during 2021 for inclusion in the Murchison Copper-Gold scoping study.

“We are pleased to announce the first results from the January 2021 Nanadie Well supergene RC drilling campaign,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“These fantastic results from the first four holes of the program provide strong support to our understanding and demonstrate the potential of the supergene horizon at Nanadie Well.

“We anticipate continued positive news flow over the coming weeks as the results for the remaining 62 holes are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

Apollo Consolidated to Bank $20M from Gold Royalty Sale

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THE BOURSE WHISPERER: Apollo Consolidated (ASX: AOP) is to be cashed up to the tune of $20 million having entered into a binding sale and purchase agreement with Gold Royalty Corp. for its royalty interest over the Seguela gold project located in central Cote d’Ivoire.

Apollo Consolidated’s of 100 per cent of the Seguela gold royalty monetises what is a non-core asset with the subsequent windfall to provide certainty of funding for further exploration and study work at the company’s Lake Rebecca gold project in Western Australia.

“Apollo sees an agreed sale of the Seguela royalty as an excellent result, bringing to book what was an under-recognised overseas asset and allowing us a significant financial runway to progress our +1 million ounces gold project at Lake Rebecca in Western Australia,” Apollo Consolidated managing director Nick Castleden said in the company’s ASX announcement.

“Realised funds, less any tax and transaction costs, will add to existing cash reserves ($18.7M as at 31 December 2020), placing the company in a very strong position to take Rebecca forward.”

Apollo has notified the owner of the Seguela gold project, Canadian-based goldminer Roxgold Inc., of its intention to sell the Royalty as Roxgold has a 14-day period in which it may elect to match the terms of the Agreement to buy back the Royalty itself.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@apolloconsolidated.com.au

 

Web: www.apolloconsolidated.com.au

 

Matador Mining Continues Window Glass Hill Expansion

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THE DRILL SERGEANT: Matador Mining (ASX: MZZ) reported on exploration drilling recently undertaken on the company’s 100 per cent-owned Cape Ray gold project in Newfoundland, Canada.

Matador Mining is the largest continuous land holder along the Cape Ray Shear, home to the Cape Ray gold project that comprises 120 kilometres of continuous strike in the proven, yet under-explored multi-million-ounce gold corridor.

The company’s drilling efforts have continued to expand the Window Glass Hill target, intersecting multiple, near surface, high-grade gold lodes.

The latest results include:

CRD168
8 metres at 5.5 grams per tonne gold from 43m (70m outside existing Mineral Resource wireframes);

WGT002
1m at 14.7g/t gold from 19m, 21m at 1g/t gold from 92m and 1m at 4.5g/t gold from 122m;

CRD170
13m at 1g/t gold from 86m; and

WGT001
2m at 1.4g/t gold from 18m, 1m at 3.4g/t gold from 30m, 2m at 4.2g/t gold from 53.5m and 1m at 3.9g/t gold from 63.5m.

“Assay results at Window Glass Hill continue to impress and highlight its resource growth potential,” Matador Mining executive chairman Ian Murray said in the company’s ASX announcement.

“The most recent results are in-line with previously reported results and indicate potential for multiple, high-grade gold lodes close to surface.

“The standout from the most recent results was hole CRD168 (8m at 5.5g/t gold from 43m) due to its grade, width, shallow depth.

“This high-grade intercept is 70 metres from the existing Window Glass Hill Mineral Resource wireframes and remains open to the north-west in a previously untested area.

“Coupled with the new discovery at depth, the company has multiple high-confidence drill targets at Window Glass Hill to test when exploration recommences next quarter.

“The company is finalising its planned exploration program for 2021 and will provide an update early next quarter.”

 

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@matadormining.com.au

 

Web: www.matadormining.com.au

 

 

Ausgold Granted Access to New KGP Drill Targets

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THE DRILL SERGEANT: Ausgold (ASX: AUC) received an important access approval in relation to continued RC drilling at the company’s 100 per cent-owned Katanning Gold Project (KGP), located in Western Australia’s south-west Yilgarn Craton.

Ausgold has been given the nod the Department of Agriculture, Water and the Environment (DAWES) to conduct a 35-hole, 5,250m RC drill program within Rifle Range Reserve, an area containing over 2.5 kilokmetres of previously untested strike length, with new targets supported by coincident EM anomalies and gold-in-soils anomalies.

Drill targets are along the same geological trend as the company’s Jinkas Resource and immediately adjacent to the Dingo Resource area.

No previous exploration drilling has been conducted in this area.

“Drilling access to the Rifle Range Reserve has been eagerly anticipated and is highly significant as it allows us to finally start to develop an understanding of the true scale of the KGP gold mineralisation,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“The targets within this area have the potential to add material value to the project.

“The planned drilling provides a further test of our geological model, which has enabled better targeting of high-grade mineralisation within both the Jinkas and Jinkas South lodes and will be a feature of the upgraded KGP Resource due in March 2021.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

 

Meteoric Resources Drills to Top of Brazilian Copper Gold Porphyry Target

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) reported on progress of the first of three deep drill holes underway at the company’s Juruena gold deposit in Brazil.

Meteoric Resources is undertaking the drilling to test an interpreted gold-copper porphyry system it had identified via geological, geophysical and geochemical data immediately below the high-grade epithermal Juruena deposit.

The first of three drill deep holes (JUDD042) has reached 500 metres and is close to intersecting the first major drill target, being the above mentioned large geophysical IP chargeability anomaly.

Already, from 440m downhole an appreciable increase in sulphide content (pyrite) has been recorded as having the presence of vein hosted molybdenite and magnetite – common in many porphyry systems.

The company anticipates JUDD042 to intersect a second major target: the god-copper rich Crentes-Style breccia hosted mineralisation within the Juruena Fault system at approximately 1,000m depth.

“This is an exciting time for Meteoric with the first deep drill hole just now reaching the top of the interpreted Deep IP anomaly, targeting a potential source for the shallow copper and gold we see at Dona Maria and Crentes,” Meteoirc Resources managing director Andrew Tunks said in the company’s ASX announcement.

“At this stage of the drilling we have intersected regional alteration and some pyrite rich zones along with minor molybdenite which is common in the porphyry environment.

“The hole will continue to test the centre of the IP anomaly and then go on to test the Juruena Fault zone at a depth of around 1,000 metres.

“The intercept of 50 metres at 1.4 grams per tonne gold and 0.25 per cent copper (encountered in the company’s 2020 campaign) is an encouraging indication of the potential of the Juruena fault to be both a host to mineralisation and as a fluid pathway from deeper systems.

“Whilst we know there is extensive copper gold mineralisation near surface, imagine if we also strike similar at depth, it would immediately open a further exciting exploration opportunity.”

 

 

 

Web: www.meteoric.com.au

 

 

Carawine Resources Drills Potential Atlantis Mineralisation Extension

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THE DRILL SERGEANT: Carawine Resources (ASX:CWX) reported assay results from RC drilling at the Atlantis prospect, located within the Thunderstruck Joint Venture (Carawine 90% interest), which forms part of the company’s Tropicana North project located in the north eastern goldfields of Western Australia.

Carawine Resources completed eight RC holes in January 2021 as part of an initial air core (AC) and RC drilling campaign, the results of which have demonstrated potential for mineralisation to extend beyond the high-grade central zone defined by previous explorers.

Recent results from Carawine’s RC program returned:

TNRC013
6 metres at 0.99 grams per tonne gold from 80m (main lode), including 5m at 1.05g/t gold from 81m,
2m at 1.84g/t gold from 49m (parallel lode), including 1m at 3.31g/t gold from 49m, and
1m at 4.16g/t gold from 112m (parallel lode); and

TNRC017
2m at 2.48g/t gold from 88m (new lode trend) including 1m at 4.52g/t gold from 89m.

“Previous explorers intersected bonanza gold grades, including 15 metres at 21 grams per tonne gold from just 50 metres below surface at the Atlantis prospect,” Carawine Resources managing director David Boyd said in the company’s ASX announcement.

“Our step-out drilling was unable to repeat these high-grades beyond this central zone, although we were successful in expanding the mineralised footprint at lower grades.

“We will design future drilling at Atlantis to improve our understanding of the orientation and controls on the bonanza gold grades in the central zone and follow up the lower grade intervals returned from this program.

“In the meantime, we are rapidly advancing preparations for RC and diamond drilling programs to follow up the outstanding high-grade gold intervals recently reported from our Hercules prospect, and look forward to updating the market as these are progressed.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@carawine.com.au

 

Web: www.carawine.com.au

 

 

De Grey Mining Drills Brolga Plunge Potential

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) reported on drilling carried out on the Brolga prospect, part of the company’s Hemi gold discovery in Western Australia.

Brolga is the largest gold zone discovered at Hemi to date where De Grey’s recent drilling has targeted down dip and strike extensions to the main Brolga zone, in addition to resource infill drilling.

Drill hole HERC392D has extended mineralisation at Brolga while confirming a developing plunge that remains open to the south-west.

Results include:
256 metres at 0.9 grams per tonne gold from 287m, including:
− 14.9m at 2.2g/t gold from 294m;
− 50m at 1.1g/t gold from 412m;
− 18m at 1.5g/t gold from 468m;
− 9m at 3.1g/t gold from 497m; and
− 15m at 1.1 g/t gold from 528m.

The hole ended in mineralisation.

“Recent extensional RC and diamond drilling has been successful in identifying wide zones of mineralisation along in the west of the large Brolga mineralised system and remains open to the south, west and at depth,” De Grey Mining managing director Glenn Jardine said in the company’s ASX announcement.

“Higher grade intervals within the larger mineralised system have also been intersected.

“RC drilling is in progress to extend mineralisation further between Brolga and Brolga South and between Brolga and Falcon.

“Results of infill drilling continue to show broad zones of consistent gold mineralisation and strong correlations between adjacent drill holes.

“The infill program is designed to provide sufficient drill density to enable a significant portion of the maiden resource estimate to meet JORC 2012 Indicated classification.”

Extensional drilling is being conducted to the west and south of the main Brolga zone.

Drilling has demonstrated that the Brolga mineralised system is open at depth and along strike to the west and south.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@degreymining.com.au

 

Web: www.degreymining.com.au

 

Wiluna Mining Increases Underground Gold Reserves

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THE DRILL SERGEANT: Wiluna Mining Corporation (ASX: WMX) reported an Ore Reserve update for the company’s Wiluna Mining Centre in Western Australia.

The update comes as Wiluna Mining Corporation transitions to underground mining and production of gold in doré and concentrate from a new flotation circuit.

The 2020 Ore Reserve estimate is based on the Mineral Resources the company announced in November 2020 with depletion to 31 October 2020 and has been updated in accordance with the JORC Code 2012 edition.

Highlights include an increase in the Underground Ore Reserve at Wiluna by 142 per cent from 1.78 million tonnes at 4.77 grams per tonne gold for 273,000 ounces to 4.33 million tonnes at 4.74g/t gold for 661,000 ounces of contained gold.

Total Ore Reserves, as of 31 October 2020, currently stand at 37.6 million tonnes at 1.09g/t gold for 1.32 million ounces, which represents an increase of 53 per cent on Ore Reserve tonnes.

Updated economics and metallurgical recovery for retreating historical tailings has increased the Wiluna Tailings Retreatment Ore Reserve from 11.2 million tonnes at 0.65g/t gold to 31.6 million tonnes at 0.57g/t gold for an added 345,000 ounces of contained gold.

“The 2020 Ore Reserve increase for Wiluna is the result of the focused efforts of our geological and mining teams over the past 18 months to grow our Resources, convert Inferred material to Indicated or Measured and to prepare for our transition to gold in concentrate production,” Wiluna Mining Corporation executive chair Milan Jerkovic said in the company’s ASX announcement.

“As reported over the past year our geologists have made great progress to expand the Resources around existing underground infrastructure for a rapid and low-cost start to sulphide ore production.

“This Mineral Resource expansion has underpinned the 661,000 ounces underground Stage 1 Ore Reserve we announce today.

“This Ore Reserve is sufficient to support a +5 year operation at 750,000 tonnes per annum Stage 1 processing rates and provides a sound base upon which to further develop the Mineral Resources and Ore Reserves for the long life operation we expect Wiluna to be.

“Despite the Open Pit Ore Reserves at Wiluna reducing, we continue to investigate ways to bring this abundant, broad mineralisation back to a reserve status in the coming years.

“Offsetting this reduction has been the strong improvement in the Wiltails Tailings Retreatment Project economics following additional Mineral Resource and metallurgical testwork which has expanded the Ore Reserve from 234,000 ounces to 579,000 ounces providing the opportunity to generate a steady, long term gold production stream over a 15-year life for the existing CIL processing plant.

“The potential for extensions to known Mineral Resources at Wiluna is considerable and so we will continue to maintain the momentum we have built to methodically infill drill the significant gaps between defined lodes, upgrade Inferred mineralization to Indicated or better and to plan for a productive and low cost mining operation.

“Our 2021 drilling program will continue to target infilling the Mineral Resources, particularly in the Happy Jack, Bulletin and Essex areas with the intention to add 500,000 ounces to the Ore Reserve base for inclusion in the Stage 2 Feasibility Study.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@wilunaminiing.com.au

 

Web: www.wilunamining.com.au