New World Resources Hits Best Antler Intersection

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

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

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

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

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

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

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

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@newworldres.com

 

Web: www.newworldres.com

 

 

Scott Williamson Blackstone Minerals (ASX: BSX) April 2021

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

Ralph Winter Moho Resources (ASX: MOH) April 2021

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

Azure Minerals Confirms VC-23 Discovery

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

 

Email: admin@azureminerals.com.au

 

Web: www.azureminerals.com.au

 

Auteco Minerals Hits New Gold Mineralisation on Road to Resource Upgrade

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

RareX to Drill High-Grade Extensional Targets at Cummins Range

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

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

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

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

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

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

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

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

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@rarex.com.au

 

Web: www.rarex.com.au

 

 

Panoramic Resources to Restart Savannah Nickel Operation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@panres.com

 

Web: www.panoramicresources.com

 

Encounter Resources Commences Major Paterson Province Drilling Campaign

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) has recommenced drilling at the Yeneena copper-cobalt project in the Paterson Province of WA.

The latest round of drilling is part of the company’s $15 million exploration earn-in with IGO Limited and will involve up to 1,900 metres of diamond drilling targeting:

The Windsor EM target that is located west of the BM1 copper oxide zone where previous drilling encountered 10 metres at 6.8 per cent copper from 32m, 20m at 2 per cent copper from 22m, and 16m at 3.2 per cent copper from 26m;

The Aria IOCG target, which is a conductive feature that has been identified on the margin of the Aria breccia pipe where localised copper mineralisation has been intersected in two diamond holes drilled to date; and

A stratigraphic diamond drill hole (1,000m) to test the contact between sandstone belonging to the Coolbro Formation and shales belonging to the Broadhurst Formation.

Once drilling at Yeneena is done, the rig will be moved to conduct drill testing of a new copper drill target at the Millennium Joint Venture (Encounter 75% / Hampton Hill Mining 25%).

This will be followed by up to 1,500m of EIS co-funded drilling at Encounter’s 100 per cent-owned Lamil copper-gold project.

“We have two months of predominantly copper focussed diamond drilling planned in the Paterson Province,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“This will include drilling of two high quality targets at Yeneena as part of the IGO earn-in; testing of a copper target at the Millennium Joint Venture; and drilling for further mineralised extensions at the 100 per cent-owned Lamil copper-gold project.

“This exciting program has commenced at Yeneena and we expect first results to be returned in May 2021.”

 

 

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au

 

 

Peel Mining Encounters More Copper Hits at Wirlong

THE DRILL SERGEANT: Peel Mining (ASX: PEX) informed of recent resource definition drilling at the company’s 100 per cent-owned Wirlong deposit in New South Wales.

Peel Mining reported the drilling returned further broad and high-grade copper-mineralised intercepts, including:

WLRC083
42 metres and 1.26 per cent copper, 5 grams per tonne silver from 258m to end of hole, including 9m and 4.1 per cent copper, 15g/t silver from 270m; and
26m and 0.58 per cent copper, 5g/t silver from 122m;
2m and 2.17 per cent copper, 22g/t silver from 206m; and
24m and 0.54 per cent copper, 2g/t silver from 222m;

WLRC087
2m and 1.11 per cent copper, 13g/t silver from 262m

WLDD006
3.61m and 3.12 per cent copper, 25g/t silver from 165m;
3m and 0.67 per cent copper, 10g/t silver from 213m;
5m and 2.84 per cent copper, 10g/t silver from 291m; and
11m and 0.88 per cent copper, 5g/t silver from 333m, including 4m and 1.67 per cent copper, 6g/t silver from 340m;

WLDD007
4m and 1.7 per cent copper, 6g/t silver from 255m; and

WLDD008
10m and 2.09 per cent copper, 8g/t silver from 193m.

Wirlong is part of Peel’s South Cobar project in NSW where drilling has been undertaken as part of the company’s ‘Hub & Spoke’, which aims to advance each of the deposits to mineable resources, to achieve critical mass in support of a new substantial centrally located processing plant.

Drilling at Wirlong has been designed to test the upper ~300m of the Wirlong Central Zone where high-grade copper (chalcopyrite) mineralisation has been interpreted to be structurally controlled on a NW-SE orientation.

Peel Mining said the recently returned assays results confirm healthy copper mineralisation in multiple drillholes, including broad mineralised zones (with higher-grade internal zones) and narrower mineralised zones including high-grade mineralisation.

The current results support earlier drillholes that intersected substantial chalcopyrite-dominant sulphide mineralisation over significant downhole widths.

“Wirlong keeps producing excellent copper hits and, encouragingly, is indicating good vertical spatial continuity between intercepts – underlining this is drillhole WLRC083 which is positioned approximately 90 metres above from WLRC073 and has returned a broad interval of copper mineralisation to end of hole including a significant very high-grade interval,” Peel Mining managing director Rob Tyson said.

“The recent switch to diamond drilling provides additional valuable information to assist with our structural and geological modeling as well as material for metallurgical testwork.

Once again, these results, coupled with the visuals and XRF analyses for drillholes still to be reported, assist in our goal of defining a high-grade maiden copper resource at Wirlong.”

 

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Eagle Mountain Mining Hits “Best Grades Ever” at Oracle Ridge

THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) was keen to report its latest drilling results from the company’s 80 per cent-owned Oracle Ridge mine project in Arizona, USA.

Eagle Mountain Mining declared the latest results to be the highest grades to be ever recorded at the project, including:

WT-21-06
12.7 metres at 3.96 per cent copper, 49.1 grams per tonne silver and 1.4g/t gold from 363.1m, including 8.7m at 5.2 per cent copper, 66.7g/t silver and 1.98 g/t gold;
34.4 per cent copper, 367g/t silver and 26.2g/t gold over 0.4m in massive chalcopyrite zone, the highest-grade assay ever recorded at Oracle Ridge.

WT-21-04
14m at 2.1 per cent copper and 22.6g/t silver from 275m, including 7.7m at 3.16 per cent copper and 31.4g/t silver;
24.2m overall mineralised intercept grading 1.38 per cent copper and 14.8g/t silver.

“WT-21-06 followed up the discovery of a high-grade breccia zone in hole WT-20-10 and delivered one of the best intersections recorded at Oracle Ridge, including the highest-grade copper, gold and silver assays ever recorded,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“We are thrilled by the outstanding grades but also extremely pleased by the thickness of the mineralised zone at the Leatherwood contact.

“Drilling is ongoing in the vicinity of WT-21-06 to assess further extensions to this new zone.

The intersection in holes WT-21-06 and WT-21-04 confirms the potential of the Leatherwood contact to deliver substantial additional resources at Oracle Ridge.

“While drilling continues, we are expediting earthworks to obtain access to new drill pads, particularly in the southern area where strongly mineralised holes drilled in the 1970s have never been followed up.”

 

 

 

Email: info@eaglemountain.com.au

 

Web: www.eaglemountain.com.au