S2 Resources Signals Potential Finland Gold Discovery

THE DRILL SERGEANT: S2 Resources (ASX: S2R) declared a possible gold discovery at the company’s Aakenusvaara gold prospect in Finland.

S2 Resources advised the market that it had intersected numerous zones of sulphides, alteration and brecciation in the first seven diamond holes it has drilled down dip and along strike from historic gold intercepts at the Aakenusvaara gold prospect.

The company indicated it was now waiting on assays for these intercepts, which it explained are visually similar to those in limited historic near surface drilling undertaken by Outokumpu.

Aakenusvaara is located three kilometres along strike from the Outokumpu’s former Saattopora mine, where copper-gold mineralisation was also associated with visually similar breccia zones and veins of pyrrhotite, pyrite, chalcopyrite, quartz, carbonate and strong albite alteration.

While waiting for the results for the Aakenusvaara holes, S2 will move the rig back to start a phase 2 reconnaissance program.

The phase 2 reconnaissance program at Aarnivalkea will tighten the current broad (320 metre) line spacing, follow up better intercepts from phase 1, and test some of the new base of till gold anomalies identified along strike and to the west of the main trend at Aarnivalkea.

“The optionality afforded by having these two drill-stage prospects in a district otherwise unexplored by Australian standards enables logistical flexibility and continuing momentum,” S2 Resources said in its ASX announcement.

“Both prospects are accessible all year round with the exception of some swampy areas at Aarnivalkea (best drilled in winter) and a seasonal environmental exclusion zone covering part of the Aakenusvaara prospect (with restricted access in spring/early summer).”

 

Email: admin@s2resources.com.au

Web: www.s2resources.com.au

 

Blackstone Minerals Identifies New Ta Khoa Nickel Targets

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has completed a maiden Induced Polarisation (IP) survey at the company’s Ta Khoa nickel project in Northern Vietnam.

Blackstone Minerals said the survey had identified multiple new targets at the Ta Khoa nickel project by indicating a strong correlation exists between high chargeability and high-grade disseminated sulphide (DSS) and massive sulphide vein (MSV) mineralization.

Blackstone is the first company to undertake an IP survey at Ta Khoa and the company indicated the geophysical method it has used defined existing and potential further high-grade zones within both MSV and DSS prospects.

The latest IP results follow-up on Blackstone’s recent drilling at Ta Khoa, which delivered initial substantial nickel sulphide intersections.

Blackstone intends using the IP survey results to target a second phase of deeper drilling that is anticipated to commence over the coming weeks.

The company considers potential exists to delineate further high-grade mineralisation throughout the Ta Khoa nickel project, initially within a five kilometre radius of the existing processing facility.

The Ta Khoa nickel project has existing modern infrastructure built to Australian Standards including a 450,000 tonnes per annum concentrator located within a premier nickel sulphide district.

Blackstone declared it would be continuing to investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium ion battery industry.

“Our maiden results from the first ever IP survey at Ta Khoa suggest we have an extensive system of magmatic nickel-copper-cobalt sulphides,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We look forward to continuing our shallow drilling and commencing the deeper drilling of the new targets with a second drill rig mobilising over the coming weeks.”

 

Email: admin@blackstoneminerals.com.au

Web: www.blackstoneminerals.com.au

 

Lithium Australia Scores Strong Lithium Hits at Youanmi

THE DRILL SERGEANT: Lithium Australia (ASX: LIT) reported further assay results from THE maiden RC drilling program underway at the company’s Youanmi project in Western Australia.

Lithium Australia released the results saying they included widths of high-grade lithium mineralisation from the campaign that has been designed to test down-dip extensions of outcropping lithium-bearing pegmatites.

Highlights of the drilling results include:

19YMRC040
3 metres at 1.68 per cent lithium oxide (Li2O) from 32m;

19YMRC041
3m at 1.27 per cent Li2O from 2m;

19YMRC042
4m at 1.61 per cent Li2O from 21m;
5m at 1.54 per cent Li2O from 62m;

19YMRC044
4m at 1.26 per cent Li2O from 2m; and

19YMRC057
6m at 1.61 per cent Li2O from 22m, including 1m at 4.14 per cent Li2O from 22m.

Lithium Australia said the drilling had confirmed mineralisation over 2.5 kilometres of strike, with assays reporting widths of high-grade lepidolite (lithium mica) mineralisation hosted in LCT pegmatites.

Multiple stacked pegmatites have been intercepted in RC drill fences along this strike.

The drilling has also demonstrated that the pegmatites dip at shallow angles (20-30°) towards the east.

Mineralisation remains open down dip and along strike and further drill testing will be required to determine the extent of the mineralised system.

“These results from our maiden drill program – which confirm significant lithium mineralisation at Youanmi – are most encouraging,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The lithium is hosted in lepidolite, a lithium mica ideally suited to processing via our proprietary SiLeach technology.

“Initial results suggest Youanmi could provide critical local feedstock for Lithium Australia’s lithium-cathode and battery business units.”

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

 

Black Rock Mining Completes $3M Raising

THE BOURSE WHISPERER: Black Rock Mining (BKT: ASX) announced completion of a placement to raise $3 million by issuing approximately 42.9 million shares at seven cents per share.

Black Rock Mining indicated that the funds raised will go towards progressing project financing activities being supported by its debt advisors, Ironstone Partners, and completion of commercial and permitting activities for the company’s 100 per cent-owned Mahenge graphite project in Tanzania.

“We are delighted with the level of support we have received from our cornerstone investors and from our board,” Black Rock Mining CEO John de Vries said in the company’s announcement to the Australian Securities Exchange.

“This placement of $3 million enables Black Rock to progress financing activities with a view to being construction ready for delivery of the Mahenge graphite project on resolution of the structure of the Tanzanian Government’s participation in the project.

“Our strategy thus far has been to focus on delivery of project development milestones.

“In achieving our development milestones we have progressed our financing objectives by de-risking the project and enhancing our market entry strategy.

“Simply put, the lower our risk profile, the better the financing outcome.

“With the completion of our technical work program, we can now confidently focus on completing our financing and commercial activities and completing documentation the structure of the Tanzanian Government participation in the project.

“We look forward to progressing the project to financing and execution.”

 

Email: info@blackrockmining.com.au

Website: www.blackrockmining.com.au

 

Meteoric Resources Encounters Visible Gold from First Drillhole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) opened the end of the week by announcing the maiden drill hole JUDD001 at the company’s 100 per cent-owned Juruena gold project intersected visible gold within a broad alteration halo at target depth.

Meteoric Resources said that DDH JUDD001 had been drill confirm previous grades encountered by historic holes:

J‐07
1.8 metres at 20.9 grams per tonne gold;

MR‐10/2015
8m at 62.4g/t gold; and

MD 10‐2016
4.8m at 11.9g/t gold.

The company declared the recent drilling represents an initial confirmation of the high‐grade zone at Dona Maria.

Two holes have been completed by Meteoric, which are currently being logged and sampled before being dispatched for assay with results expected in approximately four weeks.

The second hole, diamond hole JUDD002 was drilled to 104.54 metres returning similar observations to JUDD001 with the host rock being a coarse‐grained, k‐ feldspar altered (pink) granite.

Multiple zones of alteration were intersected; however, no free gold has been observed:

40.5m‐42.8m: strong to moderate sericite‐quartz‐pyrite alteration;
46.6m‐48.2m: moderate chlorite‐carbonate alteration;
67m‐87m: Coarse granite with chlorite veinlets and minor k‐feldspar alteration; and
still awaiting completion of summary log EOH 104.5m.

“It is fantastic to see visible gold in our very first hole and an early vindication of our decision to commit to drilling the project immediately after acquisition,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The exploration team in Brazil were excited to report visible gold in our first hole and this provides management with additional confidence in our program and the prospectivity of our Brazilian assets.

“Importantly, after the recent capital raise, we do not have to compromise the planned Juruena program to commence drilling at Novo Astro which we now anticipate commencing in Mid‐September.

“We are hard at work on both projects and look forward to updating the market when we have received some assays and interpreted the results.”

 

Website: www.meteoric.com.au

 

Calima Energy Ltd Presenting at Good Oil 2019

THE CONFERENCE CALLER: Calima Energy (ASX: CE1) is in a farm‐in agreement involving oil and gas licences prospective for the Montney Formation in British Columbia (BC), Canada.

The Farm-in Agreement allows Calima to acquire a working interest of up to 55 per cent in the Montney project and operatorship of the project.

The company recently completed a three-well drilling campaign on its Calima Lands in BC, the results of which validated its early geoscience work, which predicted that the Calima Lands would be rich in gas, condensate (or light oil) and natural gas liquids.

“Our target was to match the results achieved by our regional neighbours who are established producers,” Calima Energy managing director Dr Alan Stein said.

“We believe our results show the potential to match or exceed the results of our immediate peer group.”

Results from the drilling campaign demonstrated a 35 per cent Well Recovery Increase taking the estimated ultimate recover of each well to 8.4 billion cubic feet (Bcf) per well.

Based on limited test results, the company conservatively estimated gas-to-liquids ratio conservatively estimated at 45 barrels per million cubic feet of gas (bbl/mmcf) with 65 per cent of the liquids being high-value condensate (priced at WTI).

Calima expects the liquids ratio to increase once the wells are cleaned up and on steady production.

Canada, and the Montney region, is a good place for an aspiring producer as it a global top five gas producer.

The Montney accounts for almost half of Canada’ gas and is one of North America’s most productive and lowest cost resource plays.

Production rates have been increasing in the region by 20 per cent per annum over the last three years.

 

Emperor Energy Ltd Presenting at Good Oil 2019

THE CONFERENCE CALLER: Emperor Energy’s (ASX: EMP) major asset is the company’s 100 per cent-owned Vic/P47 exploration permit in the Gippsland Basin next to the BHP/ExxonMobil Kipper field in Victoria.

Emperor Energy recently announced an Independent Resource Statement for the Judith Gas Field within the VIC/P47 Exploration Permit, compiled by consultants 3D-GEO Pty Ltd.

3D-GEO assessed the gas-in-place and recoverable gas volumes in the Judith-1 gas discovery and Greater Judith Structure following the merging and reprocessing of the Northern Fields and 3D seismic surveys in VIC/P47 conducted in 2016/17.

The statement declared a 2C Contingent Gas Resource of 150 billion cubic feet (Bcf); and a P50 Unrisked Prospective Gas Resource of 1.226 trillion cubic feet (Tcf).

Using data from the Judith1 Well along with Seismic interpretation of the Judith Structure, 3D-GEO produced Dynamic Modelling Results for the Judith Structure.

These included:

• A Four well development model indicated an 80 million standard cubic feet per day (MMscf/d) production rate can be maintained for 32 years;

• Gas production modelled at 29Bcf per year with 934Bcf of Raw Gas produced across 32 Years; and

• Simulated flow rates are of enough capacity to supply a plant of equivalent capacity to the existing onshore gas processing plant at Orbost.

Emperor Energy has appointed Ocean Reach Advisory to find a suitable Exploration and Production Partner to participate in the exploration and development of the Judith Gas Field.

The company is seeking a partner of suitable financial and technical capability to assist in the drilling of an exploration well at the offshore Judith Gas Field by February 2021.

Based on successful exploration results the partner would then proceed with development of the field in conjunction with Emperor Energy.

 

Hazer Group Limited Presenting at Good oil 2019

THE CONFERENCE CALLER: Hazer Group Limited (ASX: HZR) is an ASX-listed technology development company undertaking the commercialisation of the Hazer Process, a low-emission hydrogen and graphite production process.

The Hazer Process takes natural gas and iron ore, two reasonably cheap feedstocks that are found in abundance within Australia.

The process uses these to generate hydrogen and synthetic graphite, two products that are currently high in both value and demand due to their global market applications.

“The core of our technology is the use of iron-ore as a low-cost catalyst for the gas decomposition reaction, which gives us a strong commercial advantage for accessing both hydrogen and high-quality graphite markets,” Hazer Group declares on its Web Page.

The process recently generated excitement when Hazer Group’s partner Mineral Resources (ASX: MIN) produced high-quality graphite at its Paddle Tube Reactor (PTR) Pilot Plant.

Hazer Group and Mineral Resources are developing a Mineral Resources owned and operated commercial scale synthetic graphite production facility based on the Hazer Process.

This involves a three-stage development program: Stage 1 is the development of a pilot scale facility capable of producing one tonne per annum of high-quality graphite.

Construction of this facility was completed in March 2019 and initial production runs under the pilot plant test program produced high-quality graphite with graphite product purity greater than 95 per cent TGC (Total Graphitic Carbon).

“The graphite purity achieved is the highest we have recorded to date by the Hazer Process,” Hazer Group CEO Geoff Ward said.

Mineral Resources will now undertake a detailed pilot plant test program of the PTR to establish the design and performance parameters of the commercial scale plant envisaged in Stage 2 and Stage 3.

 

VRX Silica Upgrades Arrowsmith Central Resource

THE DRILL SERGEANT: VRX Silica (ASX: VRX) completed a Resource upgrade for the Arrowsmith Central silica sand project, located north of Perth in Western Australia.

VRX Silica completed the upgrade following a drill program undertaken during March 2019.

The Mineral Resource estimate (MRE) for Arrowsmith Central has been upgraded to an Indicated Mineral Resource of 28.2 million tonnes at 96.6 per cent silicon dioxide (SiO2) in addition to an Inferred Mineral Resource of 48.3 million tonnes at 96.9 per cent SiO2 for a total MRE of 76.5 million tonnes at 96.8 per cent SiO2.

All Mineral Resources are reported in accordance with the JORC Code 2012.

“The Arrowsmith Central silica sand project is ideally positioned for a unique logistics solution with the project traversed by the Eneabba to Geraldton rail line with a direct connection to the Geraldton Port,” VRX Silica managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“This Mineral Resource estimation will now allow the company to finalise estimates of Ore Reserves which will support the impending BFS.”

The company explained that the Indicated Mineral Resource is predominately within the Mining Lease application area for Arrowsmith Central and it expects that the majority of the Indicated Mineral Resource will convert to Probable Reserves and a long-life mining project.

“This Mineral Resource is complementary to our Arrowsmith North silica sand project and adds not only to our total inventory but will also produce alternative products for the glassmaking and foundry industries in Asia,” Maluish said.

VRX Silica is now working towards completing the process for Mining Lease Applications and Environmental Approvals at both the Arrowsmith North and Arrowsmith Central silica sand projects.

The total Indicated and Inferred Resources at the company’s three silica sand projects is now in excess of one billion tonnes.

 

Email: info@vrxsilica.com.au

Website: www.vrxsilica.com.au

 

Pioneer Resources Intersects New Lithium and Caesium

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has just recently completed a drilling program at the company’s 100 per cent-held Pioneer Dome project, located in the Eastern Goldfields of Western Australia.

Pioneer Resources had designed the drilling to further test lithium and caesium extensions north and south of the recently completed Sinclair Caesium Mine Stage 1 Pit.

Drilling Highlights included:

Lithium

PDRC235
11 metres at 1.94 per cent lithium oxide (Li2O) from 40m (petalite)

PDRC236
8m at 3.1 per cent Li2O from 42m (petalite)

PDRC252
14m at 1.68 per cent Li2O from 38m (petalite)

PDRC241
21m at 1.96 per cent Li2O from 38m (petalite and lepidolite)

PDD258
11.2m at 1.77 per cent Li2O from 50m (petalite and lepidolite)

PDRC255
10m at 2.13 per cent Li2O from 40m (lepidolite)

PDD259
11.2m at 2.17 per cent Li2O from 52.5m (lepidolite)

Caesium

PDD262
2.8m at 14.58 per cent caesium oxide (Cs2O) from 51.9m (pollucite)

PDD261
1.9m at 23.92 per cent Cs2O from 54.5m (pollucite)

PDD259
0.8m at 14.01 per cent Cs2O from 54.7m (pollucite)

Pioneer conducted the drilling during late May and June 2019, consisting 24 RC drill holes (PDRC233- PDRC256 for 2,160m) and six diamond drill holes (PDD257 – PDD262 for 400.3m of core).

The company indicated the drilling intersected some of the thickest and highest-grade lenses of lithium (petalite and lepidolite) mineralisation to date (including a high-grade petalite intersection of 8m of 3.1% Li2O), as well as potash (K) feldspar and quartz, being continuations of zones encountered in the stage 1 Sinclair Caesium Mine.

The caesium mineral pollucite was intersected where targeted in three drill holes.

The extremely differentiated pegmatite core, where pollucite may occur, extends both north and south of the Sinclair Mine, albeit in this programme pollucite was intersected only as small pods north of the stage 1 pit.

Pioneer signalled it would now be commencing drilling for spodumene at the SPOD1 and SPOD2 targets, following identification of outcrops of spodumene at the Dome North prospect.

The company has been in discussion with pollucite offtaker, Sinomine Specialty Fluids Limited, resulting in variations to sale and shipping terms to expedite the shipping of pollucite stocks.

A shipment of approximately 2,000 tonnes of pollucite has been containerised ahead of a shipping date of 27 August 2019.

The company received a pre-shipment payment of US$700,000 ($1.029 million) on 12 August 2019, with a second pre-shipment payment of US$650,000 (~$0.956 million) due before containers are loaded onto the ship.

Further discussions are continuing with potential offtake parties interested in minerals other than pollucite that were stockpiled during excavation of the Sinclair Caesium Mine Stage 1 open pit.

“Several parties have, or are, undertaking test work on samples of the stockpiled materials, with most interest received for petalite to date,” Pioneer Resources said in its ASX announcement.

“Market feedback indicates that each of the stockpiled materials in its current form (i.e. run-of-mine) will require beneficiation to increase saleability and margins.

“Ore sorting test work is in train, and the results of this drilling program will contribute to the study of the viability of a future pit expansion.”

 

Website: www.pioresources.com.au