Bellevue Gold Looks to Mine Bellevue Gold

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THE CONFERENCE CALLER: Bellevue Gold well and truly cemented its place as one of Australia’s leading brownfields gold developers after increasing the indicated resource of its namesake project in Western Australia by an impressive 20 per cent. By Mark Fraser

The company is currently sitting on a total resource of 2.41 million ounces of gold at 10 grams per tonne, which is comprised of 1.04Moz at 11.4g/t (indicated) and 1.37Moz at 9.2 g/t (inferred).

Given Bellevue’s busy field schedule over the past 12 months, these numbers are expected to increase during 2021.

Located 430 kilometres north of Kalgoorlie-Boulder, and 40km north of Leinster within the wealth-generating Agnew-Wiluna Greenstone Belt in the Goldfields of WA, the historic Bellevue mine produced around 800,000 ounces from 15g/t ore in a predominantly underground gold operation that ran from 1987-1997.

According to Bellevue, the increased estimate – which was announced during the December 2020 quarter – will further strengthen the baseline economic study now underway at the Bellevue mine while providing scope for a longer mine life, an increased production profile and some stronger financial returns.

This all primarily stemmed from drilling completed between August and November 2020 that focused predominantly on Deacon North and the new Armand lode.

A total of 46,000 metres of diamond core was completed since the previous estimate in July 2020, including further infill, extensional exploration and geotechnical work.

Generating some excitement is the golden high-grade core of Viago and Deacon which – when combined with the third separate mining area of Armand – totals 1.15Mt at 15.2g/t for 560,000 ounces (indicated) and 940,000t at 11.5g/t for 350,000 ounces (inferred).

“This is an outstanding result which demonstrates the exceptional quality of the mineralised system at Bellevue,” the company’s managing director Steve Parsons said.

“To have an indicated resource of this size and this grade, and with such immense scope for further increases, highlights the underlying strength of the project.

“Despite the huge success we have had, I have no doubt that there is still a lot more high-grade gold to be found at Bellevue.

“We are consistently hitting gold along strike and are continuing to find new discoveries with ongoing drilling.”

Bellevue has now completed 292,000m of diamond drilling at the project, infilling selected areas of a previous 80 by 80m drill grid, on which the inferred resources were based to 40 by 20m and 40 by 40m (and even closer spacing in select areas).

All drilling has been conducted as diamond core from surface.

Field activities during the December 2020 quarter also included the first deeper drill holes as part of the WA Government co-funded Exploration Incentive Scheme program which, as reported to the ASX during October last year, resulted in the discovery of Armand, a new parallel mineralised shear zone to the east of Deacon.

Ongoing diamond drilling is continuing to both increase the global resource figure and convert further mineralisation into the indicated category.

Surface work was supplemented by the establishment of underground drilling during December.

The updated resource includes the initial resource for the Armand lode, which was reported as 200,000t at 15.4g/t gold for 100,000 ounces of indicated and 220,000t at 12g/t gold for 85,000 ounces of inferred resource.

Here, mineralisation remains open up-plunge and down-dip, and drilling is continuing at the target.

Intercepts obtained from Armand last year included the most northern drill hit achieved to date on the shoot, which returned an impressive 8.3m at 32.1g/t gold from 358.5m.

Other gold assays included 8.3m at 32.1g/t (from 358.5m), 6.5m at 23.4g/t (384.8m), 5m at 15.4g/t (360.2m), 1.9m at 29.7g/t (379.4m), 0.5m at 22.1g/t (358.5m) and 0.4m at 75g/t gold (360.2m).

Meanwhile, recent drilling at the Deacon lode, supplemented by drill hole electromagnetic data, resulted in the definition of an exciting new target known as the Maceline lode.

Here a significant conductor was defined over 550m by 250m of strike.

Bellevue considers Maceline to represent a major target for resource definition drilling, believing it demonstrates a potential scale similar to the Deacon Central area.

Follow up drilling to advance this discovery is being progressed from surface and underground platforms during the current quarter.

This recent flurry of activity has not been included in the resource upgrade.

The soon-to-be-revived Bellevue mine consists of a high-grade lode gold deposit hosted in the Mount Goode basalt.

The current upgrade represents the amalgamated resource estimate for the project and combined revisions to the previously-announced estimates – plus the new figures for Armand, which had not been previously released.

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Prodigy Gold Makes its Mark in The Territory

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THE CONFERENCE CALLER: Northern Territory explorer Prodigy Gold – with the help of the NT Geological Survey – started 2021 on the front foot following completion of a 400-metre diamond hole at its wholly-owned Reynolds Range gold-copper project in the Tanami Desert. By Mark Fraser

The drilling was following up on a compelling electromagnetic target at the Scimitar prospect after a moving loop EM (MLEM) survey and detailed mapping identified evidence of copper mineralisation at surface within a three-kilometre-long geochemical anomaly.

Of 127 samples collected in the area during late 2020, 39 returned notable anomalism of up to 7.5 grams per tonne gold, 1,950g/t silver, 19.3% copper and 21.3% lead.

Within the larger 3km anomaly, separate copper-gold and silver-lead zonation was observed, confirming the presence of strong gold and base metal anomalism at Scimitar.

The drill hole, which was co-funded by the NT Government as part of the Resourcing the Territory Initiative, was designed to confirm a base metal association with a 2km long south-west dipping MLEM conductor in the centre of the geological anomaly.

It intersected a package of interbedded sandstones and siltstones with minor black shales and diorite intrusions.

Sulphides, including pyrite, pyrrhotite, sphalerite, galena and minor chalcopyrite, were associated with quartz veining in deformed black shales over several intervals.

The strongest part of the conductor was modelled to start 240m vertically below surface.

Minor sulphide was intersected in the drill hole at the target depth of 350m.

According to Prodigy Gold, the sphalerite and galena in the intersected black shales may be the source of a surface zinc and lead anomaly.

Downhole EM should now confirm whether the sulphidic shales identified in the drilling were the cause of the airborne and MLEM anomalies.

Meanwhile, a stronger zone of EM conductor, sitting some 600m to the hole’s north, remains untested.

A second 500m diamond hole is planned to drill this conductor depending on assay results and the down-hole EM survey.

The source of the high-grade copper and gold soil and rock chip anomaly (1km long) has not, though, been confirmed by the first hole.

Prodigy Gold is currently planning RC drilling closer to these surface anomalies.

Scimitar is along trend from the historic Reward copper deposit which, during its life, enjoyed an average grade of 11% red metal.

It will be the first of several targets to be tested at Reynolds Range over the coming months.

Prodigy Gold managing director Matt Briggs said the second diamond hole 600m to the north would test the strongest zone of the EM conductor, “and we expect to complete this hole at the cessation of the wet season”.

“The initial round of drilling is the first phase of our broader exploration strategy for Reynolds Range, which aims to test several highly prospective targets with favourable structural indicators for hosting gold and base metal mineralisation,” he explained.

“Many of these targets are associated with historical exploration and mine workings, yet have had little exposure to any form of modern exploration, which provides an excellent opportunity for Prodigy.”

Drilling is planned to test other priority targets at Reynolds Range, including follow up work at Scimitar, the Reward copper-gold EM target, Falchion (where past gold intercepts have included 12m at 3.76g/t and 16m at 3.67g/t) as well as the Sabru prospect (17m at 3.93g/t, 26m at 2.73g/t and 24m at 2.59g/t).

Mineralisation was first identified in the area during the early 1900s with over 500 different mineral occurrences and old mines found – including extensive tin fields at Coniston (Reynolds Range), old copper workings, silver-lead-zinc mines and numerous gold occurrences.

A series of shear zones transect the project areas.

These zones, in places, have retrograded the amphibolite facies country rock to greenschist facies.

Here, gold mineralisation consists of sheared and sheeted-quartz vein deposits with the potential for economic ore bodies.

Several occurrences have been identified which include high-grade copper and silver (plus or minus gold) associated with distal lead-zinc occurrences.

The Jervoise deposits (located further east in the Arunta), the Bumblebee discovery (near Kintore in the South Arunta/Warumpi Margin) and the Tennant Creek deposits (situated to the north of the Tenant Creek Inlier) are described as iron oxide-copper-gold targets.

The rocks at Reynolds Range are believed to have similar potential.

Prodigy Gold has a unique mixture of greenfields and brownfields exploration properties in the proven multi-million gold ounce Tanami province.

It will continue prioritising drill targets for its Tanami, North Arunta and Reynolds Range projects, systematically evaluate high potential, early stage targets as well as form joint ventures to expedite further discoveries.

Email: admin@prodigygold.com.au

Web: www.prodigygold.com.au

 

Allan Kelly Miramar Resources (ASX: M2R) February 2021

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Miramar Resources (ASX: M2R) followed up a recent successful aircore drilling campaign at the company’s Gidji Gold Project near Kalgoorlie by announcing the grant of an Exploration License for its Whaleshark Project in the Gascoyne Region of WA. Executive chairman Allan Kelly zoomed into The Resources Roadhouse to supply details.

Scott Williamson Blackstone Minerals (ASX: BSX) February 2021

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Blackstone Minerals (ASX: BSX) is set to become an important player in the downstream processing sector of the Asian battery metals industry. Blackstone Minerals managing director Scott Williamson zoomed into The Resources Roadhouse to explain how this is being achieved.

Brett Smith Corazon Mining (ASX: CZN) February 2021

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Corazon Mining (ASX: CZN) has utilised an innovative exploration technique to define promising new drilling targets at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada. Corazon managing director Brett Smith zoomed into The Resources Roadhouse to explain how the company is using the results it achieved.

 

Encounter Resources Returns to 100% Ownership at Aileron

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THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) has regained 100 per cent control of the Aileron IOCG-style copper-gold-rare earths project d in the West Arunta region of Western Australia.

Encounter Resources reported Newcrest Mining advised of its decision to withdraw from the Aileron joint venture and will hold no residual interest.

Newcrest completed one, 158m deep diamond drill hole (EAL001) into this unexplored belt that intersected hydrothermal hematite-altered mafic intrusions and granite with a distinctive IOCG geochemical signature under shallow cover (10m).

Assays include zones of anomalism in copper (up to 0.1% copper), gold (up to 48ppb gold) and molybdenum (up to 155ppm molybdenum).

Furthermore, highly elevated rare earth elements consistent with the targeted IOCG deposit model were identified including lanthanum up to 0.2 per cent and cerium up to 0.3 per cent.

“The first drill hole into a remote and unexplored 70 kilometres long belt, intersected zones of intense hydrothermal hematite alteration with a distinctive IOCG signature in a suite of elements including copper, gold, molybdenum and highly elevated rare earth elements,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“This hole has demonstrated the potential for near surface IOCG deposits in the West Arunta region under shallow cover.

“We are pleased to be back in control of Aileron and will immediately commence discussions with potential partners focused on the discovery of IOCG style copper-gold deposits, with enriched rare earth elements, in Western Australia.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au

 

Cyprium Metals to Acquire Metals X WA Copper Assets

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THE BOURSE WHISPERER: Cyprium Metals (ASX: CYM) announced it is to acquire Metals X’s portfolio of Western Australian copper assets.

Cyprium Metals has entered into a Share Sale Agreement with Metals X to acquire the latter’s 100 per cent-owned entity Paterson Copper Pty Ltd, the owner of the Nifty copper mine, Maroochydore copper project and the Paterson Exploration Project, which includes a farm-in agreement with IGO Limited.

“This is a truly transformational transaction for Cyprium which provides us with an outstanding portfolio of copper projects,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“We have regularly ranked Nifty at the top of our Australia copper project acquisition target list and are delighted to have secured this as part of our quality suite of copper development projects.

“Nifty and Maroochydore are a perfect fit for the skill set of our management team, who have a track record of creating value and producing copper, as most recently demonstrated with Finders Resources at the Wetar copper project.

“With favourable market fundamentals for copper, the acquisition of this portfolio represents an outstanding opportunity to generate significant value by securing more than 1.1 million tonnes of contained copper at Nifty and Maroochydore, including significant infrastructure, as well as the extensive Paterson Exploration JV with IGO in the highly prospective Paterson Province.

“We are excited about the opportunity to execute our simplified development plan which consists of an open pit mining operation, feeding a heap leach and SX-EW processing flowsheet.

“Cash flows generated are intended to be utilised towards the development of the Maroochydore and Cyprium’s existing Murchison copper-gold projects.”

Cyprium has agreed to pay Metals X a total $60 million upon completion of the transaction, comprising an upfront cash payment of $24 million inclusive of the a$1 million deposit already paid, and convertible notes with a face value totalling $36 million.

Cyprium has received binding commitments to fund the transaction through a $90 million placement to professional and sophisticated investors.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

Stavely Minerals Extends High-Grade Cayley Lode

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THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported new results from ongoing resource drilling underway at the high-grade Cayley Lode discovery at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Stavely Minerals is carrying out an intensive resource drill-out focused on extending the deposit to the north-west within the (now) overall 1.5 kilometres-long discovery zone, with in-fill and step-out drilling continuing.

Drill hole SMD121 has extended the Cayley Lode copper-gold-silver mineralisation a further 150m to the north-west of the 48 metres at 1.39 per cent copper intercept the company previously reported from drill hole SMD106.

SMD121
73 metres at 0.64 per cent copper, 0.7g/t gold and 6.8g/t silver from 104m down-hole, including 1.6m at 1.72 per cent copper, 20.47g/t gold and 30g/t silver from 110.4m; and

27m at 1.04 per cent copper, 0.46g/t gold and 11g/t silver from 150m, including 7m at 2.56 per cent copper, 1g/t gold and 19g/t silver from 170m.

Stavely declared SMD121 has confirmed the presence of a broad zone of copper-gold-silver mineralisation including narrower zones of high-grade copper with very high-grade gold.

Additional holes in the north-western sector have returned significant results, including areas of gold-rich mineralisation, confirming the wider distribution of this style of mineralisation in this part of the deposit.

SMD110
9m at 2.34 per cent copper, 0.56 grams per tonne gold and 12g/t silver from 97m down-hole, including 3m at 4.5 per cent copper, 0.87g/t gold and 17g/t silver from 102m

SMD111
35m at 0.46 per cent copper, 0.92g/t gold and 9.4g/t silver from 131m down-hole, including 17m at 0.42 per cent copper, 1.34g/t gold and 10g/t silver from 131m, and ▪ 2m at 2.85 per cent copper, 2.25g/t gold and 45g/t silver in a basal intercept from 164m

“Our recent drilling is continuing to extend the Cayley Lode to the north-west with another strong set of results in SMD121 extending the high-grade copper-gold-silver mineralisation a further 150 metres along strike,” Stavely Minerals executive chairman Chris Cairns said in the company’s ASX announcement.

“As well, visual indications from holes SMD134 and SMD135 currently in-progress – located a further 225 metres along strike to the north-west – takes the strike extent of the drill-defined Mineral Resource drilling grid to approximately 850 metres from hole SMD109 to SMD135.

“Importantly, the mineralisation remains open along strike both to the north-west and southeast and down-dip.

“Our expectation is that the Mineral Resource area will ultimately extend over a strike extent of more than one kilometre and that the lateral extent will eventually match the vertical extent, we have seen with mineralisation intersected in the north-south structure (NSS) in SMD045 at around 1,150 metres drill depth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stavely.com.au

 

Web: www.stavely.com.au

 

Matador Mining Hits New High-Grade Gold Zone

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THE DRILL SERGEANT: Matador Mining (ASX: MZZ) scored four gold zones in recent drilling at the company’s 100 per cent- owned Cape Ray gold project in Newfoundland, Canada.

Matador Mining hit the quaddie from a single drill hole (CRD151) drilled at the Window Glass Hill deposit.

The four high-grade gold zones intersected, include a newly discovered lode below the existing Mineral Resource.

Results include:

10.5 metres at 2.38 grams per tonne gold from 58.5m;
1.1m at 5g/t gold from 77.3m;
7.1m at 6.93g/t gold from 118.5m; and
2m at 6.91g/t gold from 154.1m (new high-grade zone).

“The majority of drilling completed so far at Window Glass Hill, our second largest deposit (232,000 ounces gold) has been to a maximum depth of only 120 vertical metres,” Matador Mining executive chairman Ian Murray said in the company’s ASX announcement.

“Drill-hole CRD151 was drilled in our recent field season to test the depth potential below the existing Mineral Resource.

“To be able to report multiple zones of high-grade mineralisation, including a new zone below the existing Mineral Resource, is very exciting.

“The intersection of higher gold grades over greater widths than anticipated within the existing Mineral Resource area in three mineralized horizons demonstrates the upside potential of this important Resource.

“Both factors are expected to add to the mineral inventory and improve the quality of the Cape Ray project.”

Matador also received final results from recent activity at the Angus greenfield exploration discovery that have extended the mineralisation footprint to 450 by 300 metres.

Angus remains open in all directions as well as at depth, returning intercepts including:

CRD182
7m at 1.2g/t gold from 76m.

“Additionally, we received the final results from our new greenfield discovery, Angus,” Murray continued.

“With all 2020 results now received for Angus, including the majority of the multi-element geochemistry, our team can commence the detailed analysis and geological interpretation of this discovery which will underpin our 2021 exploration strategy for Angus, as well as other greenfield targets in our vast, but under-explored tenement holding.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@matadormining.com.au

 

Web: www.matadormining.com.au

 

Miramar Resources Adds Whaleshark EL to WA Portfolio

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THE BOURSE WHISPER: Miramar Resources (ASX: M2R) has been granted Exploration Licence E08/3166, located 40 kilometres east of Onslow in Western Australia.

The EL contains the Whaleshark gold project that is characterised by a large folded Banded Iron Formation (BIF) complex intruded by granite and buried under approximately 100m of sediments of the northern Carnarvon Basin.

Previous exploration of the project area has been limited with a number of companies having undertaken previous exploration, providing Miramar with the belief the project may possess unrealised potential for the discovery of BIF-hosted gold and/or IOCG mineralisation.

Miramar has identified a number of key targets including a ‘pressure shadow’ to the southwest of the granite intrusion.

The company plans to conduct grid surface geochemical sampling using partial and/or selective leach analysis and, given the apparent relationship between the gold mineralisation and sulphides, examine possible options for further ground EM surveys.

Miramar will also look at the potential to conduct further gravity surveys to assist in the identification of potential IOCG targets.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@miramarresources.com.au

 

Web: www.miramarresources.com.au