Genesis Minerals Scores New High-Grade Hits at Orient Well

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported new results from ongoing infill and extensional resource drilling at the Orient Well deposit, one of the cornerstone deposits at the company’s 100 per cent-owned Ulysses gold project near Leonora in Western Australia.

The drilling Genesis Minerals has completed at Orient Well to date is part of a large program designed to expand and upgrade the existing 61,000 ounces Mineral Resource.

Results to date have demonstrated strong potential to grow the existing Resource with a number of recent results from areas outside the current Resource.

New assay results include:

20USRC661
27 metres at 0.78 grams per tonne gold from 41m, including 10m at 1.44g/t gold from 41m;

20USRC664
20m at 0.73g/t gold from 25m;

20USRC665
22m at 0.73g/t gold from 49m, including 5m at 1.17g/t gold from 64m; and

20USRC666
7m at 4.02g/t gold from 68m, and
14m at 6.53g/t gold from 101m, including 1m at 78.92g/t gold from 101m.

The company indicated these results will feed into updated Mineral Resource estimates that will underpin a Feasibility Study on the development of a standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources.

“The hits just keep coming at Orient Well and the other deposits within the newly acquired Kookynie Group of tenements,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“The latest batch of assays from Orient Well include some excellent results – including both high-grade hits and many broader zones of strong gold mineralisation.

“Importantly, many of the new results are outside the existing 61,000 ounces Resource, and this shows that we have plenty of room to grow this deposit, both as a bulk mining proposition and with strong potential for high-grade zones.

“Drilling continues across the greater Ulysses project, with one RC rig currently on site focusing on extensional drilling.

“We remain on track to deliver an updated project-wide JORC Mineral Resource in the first quarter of 2021, which will underpin the completion of a Feasibility Study and provide a solid platform from which to progress the development of a significant new standalone gold mining and processing operation at Ulysses.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@genesisminerals.com.au

 

Web: www.genesisminerals.com.au

 

Galileo Mining Defines New Fraser Range Nickel Targets

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THE DRILL SERGEANT: Galileo Mining (ASX: GAL) has defined three new, strong, and highly prospective conductors by way of electro-magnetic (EM) surveying at the company’s Delta Blues prospect in the Fraser Range region of Western Australia.

Two targets have been identified at the Delta Blues 1 prospect displaying high modelled conductivities up to 4,100 Siemens and occur between 300 and 600 metres from sulphides identified in previous aircore drilling.

The third target at the Delta Blues 2 prospect has a high modelled conductivity of 2,700 Siemens.

The three large and strong conductors have been modelled from the EM data at shallow depths between 95 and 170 metres below surface.

Infill EM surveying of the newly identified targets is planned to be undertaken in conjunction with ongoing regional surveying at the Delta Blues prospect.

This infill surveying is expected to be completed this quarter with drill planning to commence upon receipt and interpretation of the supplementary data.

“The new results from Delta Blues confirms our view that this is one of several top-quality prospects we have identified in the Fraser Range,” Galileo Mining managing director Brad Underwood said in the company’s ASX announcement.

“We are developing a solid foundation of prospects with great potential for nickel mineralisation.

“It has been just two years since our first aircore drilling program on our greenfields tenements in the northern Fraser Range.

“We are now in a position where we have targets ready for drill testing at our Lantern prospect and new targets developing at our Delta Blues and Green Moon prospects.

“Our drilling programs in 2021 are designed to test these targets with the aim of making new discoveries.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@galmining.com.au

 

Web: www.galmining.com.au

 

AVZ Minerals Hits High-Grade Lithium and Tin at Roche Dure

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THE DRILL SERGEANT: AVZ Minerals (ASX: AVZ) received pleasing assay results from Mineral Resource drilling completed at the company’s Manono lithium and tin project in the Democratic Republic of Congo.

AVZ Minerals received the assay results from the first four of nine planned diamond drill holes being undertaken at Roche Dure in previously undrilled areas beneath the historical pit which were inaccessible and under water during earlier resource drilling programs.

Results include:

MO20DD002
138.52 metres at 1.59 per cent lithium dioxide (Li2O) and 1,250 ppm tin

MO20DD003
9.0m at 0.63 per cent Li2O and 763ppm tin (with 3.05m of core loss)
32.19m at 1.33 per cent Li2O and 1,257 ppm tin (with 0.25m core loss)

MO20DD004
203.25m at 1.59 per cent Li2O and 1,014ppm tin (with 0.3m of core loss) including 10.0m at 2.45 per cent Li2O and 661ppm tin and 15.0m at 1.95 per cent Li2O and 1,087ppm tin and 17.0m at 2.11 per cent Li2O and 768ppm tin and
276.20m at 1.45 per cent Li2O and 1,035ppm tin (with 1m of sample not returned)

MO20DD006
28.3 at 1.17 per cent Li2O and 1,412ppm tin (with 1m of sample not returned) and
4.90m at 0.04 per cent Li2O and 689ppm tin.

“These drilling results, combined with the pit floor mapping, confirm the pit floor ‘wedge’ is in fact made up of pegmatitic rock that historically was mined as tin-bearing feedstock,” AVZ managing director Nigel Ferguson said in the company’s ASX announcement.

“This area had previously been categorised as waste material in our current mining and financial model due to a lack of drilling data and under our current model, is pre-stripped as waste before ore can be sent to the processing plant.

“These positive drill results unequivocally demonstrate this is not the case and this material may be remodelled with increased confidence as revenue generating ore once all of the assay results are returned.

“The company is waiting on further assay results, with the targeted drill program soon to be completed with only one hole currently underway.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@avzminerals.com.au

 

Web: www.avzminerals.com.au

 

 

Chalice Mining Set to Add Julimar to List of Achievements

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THE CONFERENCE CALLER: Since joining the Australian bourse via a $7.5 million initial public offering back in 2006, Chalice Mining has carved quite a niche amongst the country’s home-grown exploration stocks. By Mark Fraser

And it’s not just because the company looks set to consolidate itself as a leader in Australia’s almost non-existent platinum group elements (PGE) sector.

Rather, it’s more to do with the fact that over the past 15 years Chalice has pursued fairly eclectic investment options while successfully creating wealth for its shareholders – a practice the company will no doubt continue as it advances three solid on-the-ground domestic mineral projects in 2021.

Since its IPO, Chalice has invested in a number of money-making assets which combined have – as of June last year – generated over $110 million in after-tax proceeds and sales.

Chalice’s portfolio pipeline has included district-scale precious and base metals projects, robust royalty opportunities as well as other sundry investments – both domestically and abroad.

Along the way the company has boosted its exposure to the global financial sector market through a listing on the New York-based OTCQB Venture Market, a mid-tier over-the-counter securities trading platform on which trades are conducted via dealer networks as opposed to a centralised exchange.

By taking advantage of this expertise – and using its own corporate initiatives – Chalice was able to finish 2020 with a market capitalisation of $1.27 billion (based on a then share price of $3.80), a cash balance of $126 million, combined cash and investments worth $140 million and no debt.

It was also during 2020 that the company raised $130 million to progress its wholly-owned platinum group element–nickel-copper-cobalt discovery at Julimar, some 70 kilometres north east of Perth in its home state of Western Australia.

Using high resolution airborne magnetics, Chalice interpreted the possible presence of a mafic-ultramafic layered intrusive complex (the Julimar Complex), which is now believed to extend over some 26km of strike.

This work also identified several large-scale electromagnetic anomalies (Hartog, Baudin and Jansz), which are located directly along strike from the company’s world class Gonneville PGE-nickel-copper-cobalt-gold discovery that was found during a systematic greenfields exploration program over the Gonneville Intrusion in mid-2019.

Hartog, Baudin and Jansz all represent high quality greenfields discovery opportunities over 20km of strike length across the Julimar target area.

The Hartog anomaly is Chalice’s highest priority target given its similar EM signature to Gonneville.

Exploration activities – which have been approved by the WA Government – will initially comprise prospect-scale soil geochemical sampling (200 by 100m) in conjunction with 200m-spaced moving loop EM (MLEM) and ground gravity surveys (200 by 50m) centred over the three EM anomalies.

This will be followed by infill soil geochemical sampling and further MLEM to define targets for drill testing.

The entire (approximate) 20 by 30km exploration corridor along the interpreted Julimar Complex will also be subjected to first pass exploration, including wide-spaced soil geochemistry and ground gravity surveying as well as/or MLEM.

Any further areas of interest will be infilled to define potential targets for future drill testing.

Chalice managing director Alex Dorsch said the strength and scale of Hartog’s EM target had drawn significant interest and the company now believed it could represent a different section of the intrusive complex which may be prospective for new styles of nickel-copper-PGE mineralisation.

“It should also be noted that the lack of an airborne EM response in other areas does not preclude the presence of mineralisation, as evidenced by our drilling at Gonneville,” he explained.

“The planned initial reconnaissance activities aim to define drill-ready targets, which will then form the basis of a second stage approval process for drill testing.”

Early stage metallurgical testwork completed to date on selected high grade and disseminated sulphide mineralisation samples from Gonneville returned promising flotation results, giving initial encouragement the sulphide-hosted mineralisation will be amenable to conventional flotation under standard conditions.

Chalice’s second major wholly-owned exploration project is at Pyramid Hill in Victoria, where the company holds over 5,000 square kilometres of prospective real estate north west and north east of the Fosterville gold mine.

So far it is particularly excited about a new (plus) 4km gold trend and two gold-bearing diorite intrusions.

All sit undercover in unexplored terrain. By the end of last year there were two diamond rigs working at the 4km long Karri prospect.

The third project is Hawkstone (nickel-copper-cobalt) in WA.

Described as a “new greenfield nickel sulphide opportunity in a frontier province”, it sits within an (over) 1,800sqkm holding east of the Merlin nickel-copper-cobalt prospect.

Email: info@chalicemining.com

Web: www.chalicemining.com

Breaker Resources Embarks on Golden Safari

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THE CONFERENCE CALLER: Words like “predictable” and “repetitive” are not usually uttered by junior explorers as they seek funds to look for gorillas in elephant country. By Mark Fraser

But language like this does appear in market releases from time to time, particularly if an exploration house is looking for something with the right geological recipe, but comes with low risk.

During the December 2020 quarter Breaker Resources executive chairman Tom Sanders used both terms while describing the outcome of a field campaign at the company’s wholly-owned Lake Roe gold project 100 kilometres east of Kalgoorlie-Boulder in Western Australia.

Sanders was referring to new mineralisation Breaker identified via diamond and RC infill drilling below the evolving Bombora open pit ore body, which is just part of a 9km long gold system with an established resource of 23.2 million tonnes at 1.3 grams per tonne gold for 981,000 contained ounces.

This drilling provided Breaker with more firm evidence that Bombora enjoys significant scale, high-grades, continuity of mineralisation and predictable geometry and returned some healthy gold intercepts, including: 9.15 metres at 7g/t from 558.85m (including 2m at 26.15g/t) and 3.68m at 10.58g/t from 607m (with 2.88m at 13.03g/t) from the northern section of the deposit.

In the central part a new steep lode 800m below surface was discovered yielding the deepest intercept to date of: 2.64m at 11.7g/t from 933.08m, including 1.92m at 14.03g/t.

The numbers here will form part of a global resource update planned for April 2021 to incorporate the Bombora, Kopai-Crescent and Claypan areas.

Regular updates are then planned as infill drilling is completed on structures such as the Tura lode.

Sanders said the latest results established the continuity of high-grade mineralisation over a 2km length directly below the existing 1Moz resource.

“They also show that the continuity and geometry of the mineralisation at Bombora is typical of the Archean deposits seen in WA’s Eastern Goldfields,” he noted.

“The lodes are predictable and repetitive and directly comparable to many well-known mines including the Golden Mile deposit.

“This augurs extremely well for the resource update we are planning for April 2021.

“The increasing predictability of structure is helping to identify a lot of new drilling targets.

“For example, we plan to trace some of the big flat structures we are seeing at Kopai-Crescent, Claypan and Bombora eastwards into the magnetite-rich contact of the syenite.

“These are lighting up geochemically in our aircore drilling over a 12km distance.

“We also have a lot of targets identified by aircore drilling over 30km of strike that don’t yet have an RC drill hole.”

Lake Roe comprises five granted tenements and one application covering an overall greenfields area of 556sqkm.

Aside from its close proximity to Kalgoorlie-Boulder, it also sits just 60km south-south east of the operating 3.5Moz Carosue Dam gold mine and 35km north of the historic 900,000 ounce Karonie yellow metal deposit.

Wide-spaced reconnaissance drilling has delineated a large-scale gold anomaly over 8km of strike that includes Bombora, which now extends over a continuous strike length of 3.2km and remains open in all directions.

Following the discovery of Bombora in 2015, Breaker – which listed on the ASX in 2012 with the objective of applying modern, systematic exploration techniques to the largely under-explored Eastern Goldfields superterrane of WA – completed 250,000m of RC and diamond drilling to establish a 1Moz open pit resource and create an extensively de-risked development option in a single pit configuration.

This deposit is a typical Archean, multi-lode gold ore body hosted by dolerite.

It has yielded some of the best drill hits in the state over the past few years , including 17m at 15.85g/t, 7m at 61.78g/t and 32m at 15.31g/t.

Resource drilling started in late 2016 and a maiden resource of 11.9Mt at 1.6g/t gold for 624,000oz contained gold was announced in April 2018.

In September 2019 an upgraded resource of 23.2Mt at 1.3g/t gold for 981,000 oz of contained gold was announced. The company has also released an exploration target of 1.2-1.4Moz at a grade of 4.5-5.5g/t gold over and above the estimated resource.

According to broker Bell Potter, since the start of material step-out drilling in 2020 the company has identified three large areas of discovery targeted for ongoing resource growth and confirmed the project’s underground mining potential.

Importantly, the pattern of drilling and consistent discovery established each quarter over a five-year period bears all the hallmarks of a new gold camp, while regional drilling indicates scope for a 30km long gold system.

 

Email: breaker@breakerresources.com.au

Web: www.breakerresources.com.au

 

Centaurus Metals Increases Jaguar Nickel Resource

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THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) moved closer to becoming a nickel sulphide developer at the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of northern Brazil.

Centaurus Metals announced an updated JORC 2012 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.

Importantly, the Indicated component of the Global MRE has increased by over 50 per cent to 19.9 million tonnes at 1.12 per cent nickel for 223,400 tonnes of contained nickel, accounting for 40 per cent of the Jaguar Global MRE.

“In addition to achieving our primary goal of upgrading the Indicated Resource by 50 per cent, which has significantly de-risked the project ahead of the upcoming Scoping Study, we have also achieved a further increase in the global MRE,” Centaurus Metals managing director Darren Gordon said in the company’s ASX announcement.

“This reinforces the quality of the Jaguar project as a globally significant, near-surface nickel sulphide deposit with outstanding potential for continued growth.

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

“Importantly, around 80 per cent of the contained nickel tonnes are less than 200 metres from surface and we expect that pit optimisation and mine planning work will show that Jaguar has outstanding potential to be a low strip ratio, long life, open pit operation with strong economics, putting us in a great position to deliver on our aspiration to be a clean and efficient 20,000-plus tonne per annum nickel producer by the end of 2024.

“One of the other key messages for investors is that this is far from the end of the story in terms of the growth of our Resource inventory.

“We are continuing a major drilling effort with four rigs on site and further rigs to be added next quarter.

“Additional rigs will allow more step-out, extensional and greenfields drilling along with further resource development in-fill drilling, which has been the focus of the last six months.

“As we drill deeper and test more down-hole EM conductors – which have been very useful in identifying high-grade mineralisation to date – we expect to find further high-grade nickel mineralisation.

“We look forward to replicating the sort of widths and grades of mineralisation seen in the recent result from the Jaguar Central drill hole, JAG-DD-20-104, which intersected 30.8 metres at 3.3 per cent nickel with 12.1 metres at 5.38 per cent nickel, on a more regular basis as we drill deeper, as well as making new discoveries through our greenfields drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: office@centaurus.com.au

 

Web: www.centaurus.com.au

 

Saturn Metals Drills Further Mineralisation at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) hit further important results from ongoing RC drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project near of Leonora in the Western Australian goldfields.

Recent strong intersections returned from the near-surface resource drilling at Apollo Hill include:

AHRC0480
12 metres at 5.75 grams per tonne gold from 2m, including 8m at 8.83g/t gold from 6m;

AHRC0479
2m at 63.05g/t gold from 8m;

AHRC0477
8m at 4.28g/t gold from 72m, including 4m at 8.34g/t gold from 72m;

AHRC0473
7m at 3.34g/t gold from 80m; and

AHRC0502
15m at 2.09g/t gold from 79m, including 7m at3.84g/t gold from 87m.

Saturn Metals declared the higher-grade intercepts show potential exists to extend and improve the January 2021 reported Mineral Resource of 35.9 million tonnes at 0.8g/t gold for 944,000 ounces of gold, with intersections sitting in ideal locations for additional leverage on the resource and subsequent open pit optimisations.

“An increase in the understanding of the geological controls across the deposit after the 2020 drilling program is allowing us to successfully target higher-grade mineralisation both within and around the newly expanded resource,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“Scope for further improvement exists as we continue to apply the learnings from the December-January resource modelling exercise.

“Drilling since early January has focussed on testing for higher grade opportunities across the deposit as well as on several crucial ‘step-out’ exploration initiatives.

“We look forward to reporting assays from the 100 holes that remain pending.

“An aggressive start to the year reflects our continued confidence in the deposit and a great step for our next stage of growth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

Blackstone Minerals Hits Massive Sulphide Nickel at King Snake

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THE DRILL SERGEANT: Blackstone Minerals (ASX BSX) has hit Massive Sulphide Vein (MSV) mineralisation in multiple drill holes from its maiden exploration program at the King Snake prospect at the company’s Ta Khoa nickel project in Vietnam.

Blackstone Minerals declared that its immediate success at King Snake reaffirms the prospectivity of the region and the company’s strategy in defining high-grade nickel targets using Electro-magnetic (EM) geophysical techniques.

Blackstone has commenced the maiden resource estimate for the Ban Chang prospect and continues drilling at Ban Phuc, Ban Chang, Ta Cuong, Ban Khoa and King Snake.

“Our investment into targeting higher grade MSV deposits within the Ta Khoa district continues to pay dividends,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“We will pursue an aggressive drilling program at King Snake as we look to build a high grade MSV mining inventory to support the restart of the existing 450,000 tonnes per annum Ban Phuc concentrator.

“The drill bit continues to highlight the district scale opportunity at Ta Khoa, which we are confident will provide many years of consistent high-quality nickel-copper-PGE concentrates to our planned downstream refinery business.

“Our in-house geophysics team has a proven track record with success at Ban Chang following up immediately at King Snake.

“We look forward to delivering maiden resources at each of these prospects and continuing to systematically assess up to 25 MSV targets in the Ta Khoa pipeline.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Vimy Resources Runs Eye Over Mulga Rock Base Metals

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THE DRILL SERGEANT: Vimy Resources (ASX: VMY) highlighted the ability of the company’s Mulga Rock uranium project in Western Australia to produce by-product credits.

Vimy Resources completed the Mulga Rock Definitive Feasibility Study in 2018, which it followed up with a DFS Refresh in 2020 that confirmed the project as a simple, low-cost uranium mining process, positioning Vimy as Australia’s largest, near-term uranium producer.

The 2018 DFS investigated a stand-alone base metals plant, designed to recover copper, zinc, nickel and cobalt as mixed sulphide by-products from the tailings of the uranium plant

The company has watched on as growing demand for clean energy solutions has seen a rise in base metal prices, prompting Vimy to review the viability of the base metals plant looked at by the DFS.

Initial indications suggest materially improved economics during the first eight years of production when the base-metal bearing deposit, Ambassador, is being mined.

“De-carbonisation of the global economy is seeing a significant step change in the long-term demand, pricing and security of supply for battery metals,” Vimy Resources managing director and CEO Mike Young said in the company’s ASX announcement.

“As a result, it is clear that the base metals circuit has gone from marginal to potentially improving the already strong uranium economics of the Mulga Rock Project.

“Mulga Rock is a world-class uranium project, but one that is likely to be enhanced by base metal by-product credits.

“This very positive outcome creates more options for funding the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@vimyresources.com.au

 

Web: www.vimyresources.com.au

 

 

De Grey Mining Lights Up Scooby and Antwerp Gold Potential

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) has been encouraged by recent drilling activity at the Greater Hemi Intrusion targets, surrounding the company’s Hemi gold discovery in Western Australia.

De Grey has been undertaking exploration within the Greater Hemi area using systematic aircore drilling, geophysical and geochemical techniques to identify mineralised intrusions based on recent experience from the Hemi discovery.

Between January 2020 and early February 2021, the company has drilled 2,135 aircore holes.

A combination of these exploration approaches is being used to identify and prioritise high prospectivity targets for follow up RC drilling at the Scooby and Antwerp targets.

The recent results include:

Scooby

Shallow gold intercepts in aircore include:

BXAC437
3 metres at 97.4 grams per tonne gold from 45m, including 1m at 264g/t gold from 45m;

BWAC630
10m at 2.1g/t gold from 48m;

BWAC635
3m at 1.5g/t gold from 48m; and

BXAC436
2m at 4.8g/t gold from 39m.

Antwerp

Results followed on from previously reported shallow gold mineralisation results, including the intersection of quartz veined and altered intrusion in limited shallow RC drilling.

New results include:

HERC146
6m at 1.4g/t gold from 62m; and

HERC146
3m at 1.1g/t gold from 96m.

De Grey considers potential exists for Antwerp to link with the recently discovered Eagle zone.

“Recent exploration activities at Scooby and Antwerp have identified widespread gold mineralisation in aircore drilling warranting follow-up RC drilling,” De Grey Mining technical director Andy Beckwith said in the company’s ASX announcement.

“This drilling will commence in the near future in parallel with resource delineation and extension drilling at Hemi, including at the recently discovered Diucon and Eagle zones.

“The new IP target coincident with gold and arsenic mineralisation at Scooby are encouraging.

“The IP results potentially provide a new tool to identify and prioritise targets beneath the transported cover.

“Diucon, Eagle and Antwerp will be our next priority IP areas.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@degreymining.com.au

 

Web: www.degreymining.com.au