Eagle Mountain Drills Resource Upgrade Potential at Oracle Ridge

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported further strong copper intercepts from ongoing drilling at the company’s 80 per cent-owned Oracle Ridge mine project in Arizona, USA.

Eagle Mountain drilled hole WT-20-16 to the west of previous hole, WT-20-03, targeting the extension to mineralisation it had encountered in recent and had noted in historical drill hole data.

Two mineralised zones were encountered, returning:

12.7 metres at 1.41 per cent copper, 17.72 grams per tonne silver and 0.22g/t gold, from 206.5m; and
17m at 1.48 per cent copper, 19.23g/t silver and 0.23g/t gold, from 278.6m, including 3.6m at 2.59 per cent copper, 32.37g/t silver and 0.25g/t gold from 279.4m.

The recently-achieved intercepts are outside the existing Oracle Ridge JORC Mineral Resource Estimate.

They sit in a sparsely drilled area that is contained within a broad mineralised zone of 100m, located within 60m of existing underground development.

Eagle Mountain believes the intercepts further demonstrate the potential for future expansion of the Mineral Resources Estimate (MRE).

“The significant intercept widths in WT-20-16 further illustrate the real potential for a substantial increase in resource tonnage,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“The intercepts are open to the north and north-east for approximately 100 metres and large portions of the Leatherwood contact remain untested towards the east.

“Importantly, the upper intercept is within 60 metres of existing underground development, which in a potential future mining operation will reduce the costs of accessing this mineralisation at an early stage.

“Based on the strong results from this hole, two further holes have been drilled in this area (WT-21-01 and WT21-02) with assays pending.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@eaglemountain.com.au

 

Web: www.eaglemountain.com.au

 

Kin Mining Identifies New Exploration Opportunities at Cardinia Gold Project

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) received further cause to talk up the exploration potential of the company’s 100 per cent-owned Cardinia Gold Project near Leonora in Western Australia.

Kin Mining’s swagger came courtesy of results from a detailed gravity survey completed in December 2020 over the eastern part of the project tenements.

The survey was designed to map the distribution of felsic porphyry and dolerite intrusions intersected in both RC and diamond drilling at prospects along this Eastern Corridor.

“The gravity survey results from the eastern part of the Cardinia Gold Project have revealed a number of intrusions that we believe are critical geological features in controlling the locations of the high-grade gold mineralisation intersected in RC and diamond drilling at key locations drilled during Phase 3 exploration programs last year,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

““The survey has also highlighted extensions of the north-south oriented Faults both south of Helens and Cardinia Hill and north through Rangoon to East Lynne.

“This structural architecture of intrusions and faults therefore represents a compelling exploration target for high-grade gold mineralisation to be followed up in 2021, with up to seven priority target areas identified.”

These targets will be systematically tested as part of the company’s 2021 Phase 4 drilling program.

The company’s Phase 3 program in 2020 consisted of drilling at Cardinia over a number of prospects, mostly on the eastern side of the project, including historical prospects at Helens, Comedy King, East Lynne and Hobby and the new discoveries at Cardinia Hill Helens East and Collymore.

Results from the Phase 3 drilling included shallow high-grade mineralisation at Pelsart, positive results from deeper drilling at Cardinia Hill and results from diamond drilling at Helens East.

The final two drill-holes from drilling at the Bruno-Lewis deposit did not record assays of note.

“That paves the way for us to further update the Mineral Resource for several key deposits this quarter, building further on the project-wide resource update announced just prior to Christmas,” Munckton said.

“Importantly, it also clears the way for us to resume drilling with our Phase 4 program scheduled to get underway in the near future.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

 

Calidus Resources Consolidates Warrawoona Land Position

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THE BOURSE WHISPERER: Calidus Resources (ASX: CAI) has entered into a Farm-in Agreement with Nimble Resources, giving it the right to earn up to 90 per cent of a highly promising tenement (E46/1035) located about 75 kilometres from the company’s 1.5 million ounce Warrawoona gold project in Western Australia.

The tenement in question is located along strike of two geochemical trends identified on tenements immediately to the west.

“The farm-in agreement with Nimble provides Calidus with another low-cost opportunity to consolidate the company’s land position in a highly prospective region,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“The Nimble ground provides Calidus with the potential to add greenfields projects to the Blue Spec satellite mining operation that will provide ore to the central Warrawoona processing facility.

“Many soil and rock-chip anomalies on the tenement have not been previously followed up with drilling.

“Fieldwork will start in earnest this calendar year.”

Under the terms of Farm-in, Calidus can at its election:

Stage 1: Earn a 25% interest with an initial minimum exploration expenditure of $75,000 within 1 year from the commencement date.

Stages 2-4: Earn a 50% interest (Stage 2 Earn In) with a further $125,000 of exploration expenditure within 2 years of the commencement date.

Stage 3: Earn a 75% interest (Stage 3 Earn In) with an additional $300,000 of exploration expenditure within 4 years of the commencement date.

Stage 4: Earn a 90% interest (Stage 4 Earn In) with a further $300,000 of exploration expenditure within 6 years of the commencement date.

Nimble will retain Alluvial Rights on the tenement.

Standard CPs apply including the extension of the term of the tenement until 2025.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@calidus.com.au

Web: www.calidus.com.au

 

Apollo Consolidated Acquires Further Rebecca Tenure

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THE BOURSE WHISPERER: Apollo Consolidated (ASX: AOP) has added ground to the company’s 100 per cent-owned one-million-ounce Lake Rebecca gold project east of Kalgoorlie in Western Australia.

Apollo Consolidated made the strategic purchase of an additional 1.35 square kilometres of unencumbered tenure around the 775,000 ounce Rebecca deposit to allow full operational and planning flexibility as the Company moves toward commercial studies.

The purchase brings an additional 400m to the east and 400m to the north of the Rebecca gold deposit, allowing more space for future pit design, pit infrastructure and hydrology.

The additional area will also be evaluated as part of ongoing exploration targeting and possible optimised pit extensions.

The area in question was previously part of the larger Bulletin Resources/Matsa Resources Lake Rebecca project.

The deal also involves a first right of refusal over adjoining granted exploration licences owned by Bulletin Resources and Matsa Resources.

Apollo is currently compiling all outstanding 2020 drilling results to feed into a re-estimation of Mineral Resources.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@apolloconsolidated.com.au

 

Web: www.apolloconsolidated.com.au

 

Meteoric Resources Drilling for a Giant Brazilian Copper-Gold Nut

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THE DRILL SERGEANT: Meteoric Resources L (ASX: MEI) is set to commence its 2021 Brazilian drilling program at the company’s Juruena Gold Project in Brazil.

Meteoric Resources will be targeting a potential copper-gold porphyry system beneath the high-grade Juruena Epithermal gold deposits.

The key priority of this program, which begins in early February, will be to test the high chargeability anomalies generated by a Deep IP survey, which the company completed at the end of 2020.

An initial 3,600 metres drilling campaign will commence in early February with the rig already onsite.

Three diamond drill holes will test the peak of the chargeability anomaly defined by the 2020 Deep IP and MT survey.

“This drilling campaign could well be a potential game changer for Meteoric,” Meteoric Resources managing director Dr. Andrew Tunks said in the company’s ASX announcement.

“Up until this point we have had a host of positive indicators that led us to believe that the shallow high-grade Epithermal gold mineralisation we see at Juruena was potentially related to a deeper magmatic source.

“The 2020 Deep IP &MT survey continues to support this theory having defined a large, high-response IP chargeability anomaly that demands immediate drill testing.

“As such I am pleased to advise that we mobilised the geology team to site early in the New Year and that drilling of an initial three-hole program totalling around 3,600 metres will start in early February.

“Drilling high value targets like this is a key reason that I became an explorer – there is never a more exciting time than when you are drilling a target that has multiple lines of support and serious size potential.

“What we are about to commence in Brazil represents an enormous opportunity for the company and I look forward to updating you on our results over the coming months as the drilling continues.”

 

 

Web: www.meteoric.com.au

 

Musgrave Minerals Hits Gold with First White Heat Drilling

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) added to its list of 100 per cent-owned Cue project achievements with recent reverse circulation (RC) drilling returning strong assay results from the newly discovered White Heat prospect in Western Australia.

Before being called White Heat, the prospect was formerly known as Target 2.

The recent drilling campaign identified high-grade gold in two basement zones with both zones open along strike and at depth.

Nine RC drill holes have been completed to date with assays received for the first four holes.

Intercepts from 1m individual samples include:

21MORC001
6m at 15.3 grams per tonne gold from 38m, including 3m at 28.8g/t gold from 38m

21MORC002
9m at 7.1g/t gold from 60m, including 2m at 28.7g/t gold from 60m and
4m at 43.2g/t gold from 98m, including 2m at 83.9g/t gold from 98m

21MORC003
6m at 7.4g/t gold from 35m, including 2m at 18.8g/t gold from 35m; and

21MORC004
5m at 8.8g/t gold from 40m.

“This is a great result from the first four RC holes at the new White Heat prospect and demonstrates the exploration upside of the tenement package,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The gold is high-grade and near surface but masked from previous explorers by two to three of transported hardpan clays.

‘Drilling is ongoing at White Heat which is only 400 metres south of the new Starlight lode.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@miramarresources.com.au

 

Web: www.miramarresources.com.au

 

 

Miramar Resources Outlines 4km Mineralised Structure

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THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has completed the first round of aircore drilling at the company’s 80 per cent-owned Gidji JV project intersecting regolith gold anomalism within a structure over approximately four kilometres of strike.

Miramar Resources reported the drilling outlined regolith gold anomalism within a mineralised structure, intersected visible gold in a quartz vein and highlighted multiple targets including one it considers to hold apparent similarities to the 10 million ounces Paddington deposit.

The structure extends from the northern projection of the neighbouring 314,000 ounce Runway deposit to the regionally important Boorara Shear Zone where a series of shallow historical RC drill holes previously intersected gold mineralisation.

Results from the recent program include:

GJAC096
8m at 495ppb gold from 56m, including 4m at 925ppb gold from 56m;

GJAC058
2m at 779ppb gold from 68m to EOH;

GJAC085
8m at 351ppb gold from 48m to EOH;

GJAC084
8m at 194ppb gold from 52m; and

GJAC092
8m at 184ppb gold from 44m to EOH.

Miramar Resources aid the results confirmed the company’s view that the Gidji JV project was highly prospective but greatly underexplored.

“Our maiden aircore program, the first drilling at Gidji since 2013, has defined a mineralised structure over several kilometres and highlighted several new targets, including one with apparent similarities to the 10 million ounce Paddington deposit, located 10km further north within the same structure,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Despite its prime location, the previous drilling within the Gidji project has mostly been shallow with only a handful of RC drill holes across the entire project area.

“We effectively need to disregard much of the previous drilling and treat the project like a new greenfields exploration opportunity.

“In addition to the potential for a northern extension to the existing Runway deposit, we believe there are multiple drill targets that may present similar, if not better, opportunities for discovery of an economic deposit at Gidji.”

On the back of the results, Miramar will immediately follow up the recent aircore drilling at Gidji with a second campaign of approximately 10,000m which will infill the drill spacing to approximately 200m by 50m.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@miramarresources.com.au

 

Web: www.miramarresources.com.au

 

Matador Mining Drills High-Grade Canadian Results

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THE DRILL SERGEANT: Matador Mining (ASX: MZZ) released results from drilling underway at the company’s 100 per cent-owned Cape Ray gold project in Newfoundland, Canada.

Matador Mining completed further Mineral Resource infill drilling at the Isle aux Morts (IAM) target that delivered wide intervals with excellent gold grades, including:

CRD162
18 metres at 10.96 grams per tonne gold; and

CRD161
19m at 4.6g/t gold as part of a broader intercept of 29.5m at 3.06g/t gold.

“These new assay results continue to demonstrate the prospectivity of our Cape Ray gold project,” Matador Mining executive chairman Ian Murray said in the company’s ASX annouancement.

“The grades and widths intersected at Isle aux Morts exceed those in the surrounding holes and represent some of the highest grade holes drilled on the tenement package.

“With a further six holes from Isle aux Morts pending assays, and 17 holes still in the laboratory, we aim to build on our recent successes.

“We are well advanced on planning for our 2021 exploration program and will refine our strategy as we receive the final outstanding assay results.

“We aim to commence field work as soon as possible to maximise the field time available to us.”

Matador also produced new results from the recent greenfield Angus discovery of further wide intercepts of stockwork-vein-related gold mineralisation similar to the earlier hits, including:

CRD184
6m at 2.18g/t gold, include 1m at 12.13g/t gold from 43m, 12m at 0.43g/t gold from 3m, 15m at 0.47g/t gold from 78m and 13m at 0.58g/t gold from 114m

CRD174
10m at 1.37g/t gold, including 1m at 10.97g/t gold.

The company said these results reinforce its view that Angus is a large, pervasively mineralised, granite-hosted, quartz-vein stockwork gold mineral system which remains open in all directions.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@matadormining.com.au

 

Web: www.matadormining.com.au

 

Matsa Resources Declares New Business Strategy

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THE BOURSE WHISPERER: Matsa Resources (ASX: MAT) woke up this morning with a brand-new lease on life and vision for the company’s Lake Carey gold project in Western Australia.

Matsa Resources has decided to grab the bull by the proverbials and delivered an outline for a new business strategy and strategic pathway centred on resource growth through a targeted exploration drive to support a proposed 100 per cent Matsa owned, 600,000 tonnes per annum treatment plant.

The Matsa Board believes that the strategy of becoming a mid-tier gold producer through exploration and construction of its own gold-ore treatment plant will create greater shareholder value and appeal.

As a result, the Board has announced its commitment to making the necessary changes to achieve this strategy.

“Since 2018, Matsa has demonstrated it has the capacity to successfully operate both open cut and underground mines,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“With that in mind, our recently completed CPC study into a 600,000 tonnes per annum facility presents a compelling case for Matsa to preserve resource tonnes for a Matsa owned treatment plant and commence an aggressive exploration program in order to substantially increase the company’s resources.

“We already have 515,000 ounces of gold resources and we fully intend to grow these through our planned exploration activities.

“We will be working through our plans at Red October in light of our recent highly successful drilling programs, and a Matsa owned treatment plant will enable us to work towards getting Fortitude and Devon into production with far more attractive project economics than were previously achievable.

“Our recent drilling at Red October, Devon, Olympic and Fortitude North, tells me that we have a great opportunity to significantly expand the company’s resources and reserves through a concentrated exploration effort.

“I am regularly reminded that our tenements in the Lake Carey area represents as some of the most attractive exploration space in the goldfields.

“We already have multiple walk up targets that are ready for drilling.

“At Red October, our geologists recently identified two new structural targets parallel to the ROSZ and Marlin lodes, each of which have the capacity to substantially alter the outlook for the mine.

“As a result of our confidence in exploration success at Red October we will need to wind down the ore production and change our focus to drilling and identifying those impressive targets and grow the reserves into a long term mine plan.

“Over the coming months our team expects to provide new targets from the seismic and SAM geophysics datasets and we will also add those to our drilling programs.

“At Devon, Olympic, Hill East and Fortitude North we are busy updating models and we’ve got some very strong gold anomalism in excess of seven kilometres along the Fortitude Fault and five kilometres long on the Bindah structural trends.

“This area remains largely unexplored and simply needs drilling and that’s what we’ll do.

“During the December quarter our geologists have worked up a comprehensive exploration and development pipeline which we intend to fully exploit.

“I’m very confident we have the tenement package and more importantly, the right people to deliver on this strategy.

“When all this is done and we have successfully executed our strategy, we will be a very different company.”

 

TO READ THE COMPANY’S PREVIOUS ANNOUNCEMENT: CLICK HERE

 

Email: reception@matsa.com.au

 

Web: www.matsa.com.au

 

De Grey Mining Claims Two More Hemi Gold Discoveries

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) appears to have done it again with the claiming of two new gold discoveries at the company’s Hemi gold project located south of Port Hedland in Western Australia.

De Grey Mining announced the discovery of two new mineralised intrusions immediately west of Crow, at Hemi.

The new discoveries, Diucon and Eagle, are located immediately west of Crow along the SW-NE trending structural corridor running from Scooby to Antwerp.

Recent aircore and RC drilling defined two new zones of gold mineralisation over approximately one kilometre and 500 metres of strike respectively.

The company noted the intrusions are not highlighted by any magnetic signature, which it said leaves large scope to define further non-magnetic intrusions throughout the region.

Gold mineralisation was intersected in first pass aircore and RC drilling, including:

Diucon intrusion initial RC drill results include:

HERC382
99 metres at 1 gram per tonne gold from 114m (at a 0.3g/t lower cutoff), including 19m at 2g/t gold from 158m, 6m at 4.5g/t gold from 186m and 9m at 1.3g/t gold from 204m; and

HERC435
29m at 1.1g/t gold from 55m in (at a 0.3g/t low cutoff) including 10m at 2.6g/t gold from 74m

An encouraging gold zone was identified in aircore drilling over approximately 1km in strike and 300m wide.

The strongest gold mineralisation appeared at the western end from 40m to 200m depth and remains open to the west and at depth with further RC drilling underway.

Eagle intrusion results from the first two RC holes at Eagle include:

HERC377
68m at 0.7g/t gold from 50m (at a 0.3g/t lower cutoff), including 3m at 1.3g/t gold from 51m and 6m at 2g/t gold from 78m and 18m at 1.3g/t gold from 96m.

“Systematic aircore drilling around Hemi has discovered two new mineralised intrusions: Diucon and Eagle,” De Grey Mining managing director Glenn Jardine said in the company’s ASX announcement.

“The initial follow up RC drilling has intersected broad zones of shallow gold mineralisation.

“Wide spaced drilling is at an early stage and both intrusions remain open along strike and at depth.

“Follow up RC drilling will continue with the aim to delineate the extent and continuity of gold mineralisation in both intrusions.

“Potential exists to define new resources to add to the existing gold endowment at Hemi.

“Systematic aircore drilling continues in the Greater Hemi area.”

 

 

Email: admin@degreymining.com.au

 

Web: www.degreymining.com.au