Dreadnought Resources Reports High-Grade Indicated Mangaroon Gold Resource

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) reported a JORC Code 2012-complaint Mineral Resource Estimate (MRE) for the company’s Star of Mangaroon project in the Gascoyne region of Western Australia.

Dreadnought Resources declared the MRE as a high confidence Resource with approx. 84 per cent labelled in the Indicated category.

The Resource sits on a mining lease with minimal production permits required and is considered amenable to open pit mining and remains open at depth and along strike.

The numbers have come in at 56,600 tonnes at 12.8 grams per tonne gold for 23,300 ounces gold.

This includes Indicated Resources of 44,400 tonnes at 13.6g/t gold for 19,500 ounces and Inferred Resources of 12,200 tonnes at 9.8g/t gold for 3,900 ounces.

The company labelled the initial Resource as a major milestone in its strategy to become a self-funded explorer indicating it will form the foundation for an open pit scoping study that is currently underway and expected to be completed in the March 2025 quarter.

“We are pleased that the Star of Mangaroon has delivered a high-grade Resource that supports the prospects for commercialisation,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“High grades, near surface and with exceptionally high metallurgical recoveries make the Star of Mangaroon a strong foundation for our self-funded explorer strategy.

“Over the next 12 months, Dreadnought will be focused on bringing the Star of Mangaroon into production and producing cashflow while outsourcing funding, development, haulage and processing to third parties.

“In parallel with this focus on development, will be delivering additional mineable ounces from our other advanced prospects also located on mining leases while building a pipeline of high-grade gold targets for drill testing in 2025.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Arrow Minerals Extends Known Niagara Bauxite Mineralisation

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THE DRILL SERGEANT: Arrow Minerals (ASX: AMD) reported assays from a maiden drilling program recently conducted on the company’s Niagara bauxite project in Guinea.

Arrow Minerals delivered the second batch of results its first drilling at the Niagara bauxite project, which it reported to have defined high-grade bauxite to over five kilometres cumulative strike within trucking distance of a multi-user railway.

Results from the latest batch of assays include:

BS000020
7 metres at 49.4 per cent aluminium oxide (Al2O3), 0.7 per cent silicon dioxide (SiO2) from surface;

BS000035
6m at 48.3 per cent Al2O3, 2.6 per cent SiO2 from surface;

BS000036
6m at 45.7 per cent Al2O3, 1 per cent SiO2 from surface;

BS000040
5m at 49.5 per cent Al2O3, 3 per cent SiO2 from surface;

BS000042
8m at 43.3 per cent Al2O3, 3.3 per cent SiO2 from 6m; and

BS000043
3m at 45.5 per cent Al2O3, 2 per cent SiO2 from 3m.

Arrow indicated it still has assays from another 90 holes pending.

“These are more strong results which have delineated three broad zones of mineralisation from surface over a combined 5km strike length within trucking distance of a multi-user railway at a time of record alumina and bauxite prices,” Arrow Minerals managing director David Flanagan said in the company’s ASX announcement.

“Guinea is the world’s largest and most important supplier of high-quality bauxite.

“These results are comfortably in line with the product that has made Guinea the world’s number one bauxite producer.

“Guinea bauxite is in high demand contributing approximately 30% of global consumption and at 45% Al2O3 and 3% SiO2 is currently approaching US$100/t CIF China.

“Arrow is focused on achieving its goal to be a low-capital, highly profitable mining operation that will serve as a platform for future growth.

“We are very excited about our drilling results and look forward to receiving more over the coming weeks, with the goal of estimating resources to form the basis for our planned Scoping Study to follow in the first half of 2025.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

Encounter Resources Confirms High-Grade West Arunta Niobium Discovery at Green

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) claimed confirmation of extensive, enriched, high-grade niobium mineralisation at the company’s 100 per cent-owned Aileron project in the West Arunta region of Western Austtralia.

Encounter Resources made the declaration on the back of the first RC drilling results received from the Green prospect at the Aileron project where assay results confirmed the presence of high-grade niobium mineralisation in the upper portion of the system.

The company said the results demonstrate the continuity of the high-grade niobium system from next door neighbour WA1’s Luni discovery in the south-west, across the tenement boundary into Green.

New intercepts from Green include:

EAL894
116 metres at 1.7 per cent niobium from 52m to EOH, including 28m at 3.3 per cent niobium from 62m and 32m at 2.1 per cent niobium from 95m; and

EAL899
81m at 1.5 per cent niobium from 39m, including 43m at 2.4 per cent niobium from 43m.

Encounter highlighted the 197 metres intersection of hole EAL894, claiming it to be the highest ‘grade x thickness’ RC drill intercept returned from the entire West Arunta province to date.

The company’s initial RC drilling at Green has now established a zone of strike extensive, thick, high-grade mineralisation, and subsequently, a diamond hole has been completed for metallurgical test work.

Further batches of assays from the remaining 30 RC holes completed across approx. 2km of strike at the western part of Green will be returned in the coming months.

“Green is a large mineralised carbonatite (+3km long) containing multiple zones of shallow, high-grade niobium mineralisation identified with aircore drilling,” Encounter Resources executive chairman Will Robinson said in the company’s ASX announcement.

“The first RC holes completed at the western side of Green demonstrate some of the best, depth extensive niobium mineralisation in the West Arunta.

“A further 30 RC drill holes have been completed at Green, through the better mineralised zones defined by aircore drilling, and we look forward to providing further assay results in the months ahead.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Impact Minerals Reports Lake Hope HPA Project Measured Resource

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has reported a substantial and high-grade initial Measured Resource Estimate for the company’s Lake Hope High Purity Alumina (HPA) project, located east of Perth in Western Australia.

Impact Minerals reported a Measured Resource of 730,000 tonnes at 25.8 per cent alumina (Al2O3) for a contained 189,000 tonnes of alumina at the Lake Hope HPA project.

The company anticipates the Measured Resource to support the first 15 years or more of proposed HPA production from Lake Hope.

It is expected to underpin a Probable or Proven Reserve, subject to ongoing mining studies, test work, and economic studies to be completed as part of a Pre-Feasibility Study on Lake Hope.

Impact aims to bring Lake Hope into production to deliver low-cost, high-margin end products to a rapidly expanding global market.

Current prices for benchmark 4N HPA (99.99% Al2O3) and related products are more than US$20,000 per tonne.

Impact expects the Pre-Feasibility Study will be completed in Q1 2025 after the final reports from various contractors and consultants are received, which are expected in December and January.

“The new Mineral Resource Estimate will be incorporated, as per the JORC 2012 Code, into the Pre Feasibility Study for Lake Hope, which is nearing completion,” Impact Minerals said in its ASX announcement.

“Final reports from the engineering and design studies, mining schedules, and mining cost estimates, as well as from other contractors and consultants, are awaited.

“Some of these are expected in mid-December, and accordingly, the PFS is expected to be completed in Q1 2025.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Centaurus Metals Intersects More Shallow High-Grade Boi Novo Copper

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THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) reported further results from drilling undertaken at the company’s 100 per cent-owned Boi Novo copper-gold project in the Carajás Mineral Province of northern Brazil.

Centaurus Metals drilling has delivered encouraging results, expanding both the shallow breccia-hosted high-grade copper mineralisation and intersecting more zones of thick disseminated mineralisation.

Drilling at the Nelore West prospect, from which visual results were reported in October, has intersected a shallow breccia zone of stringer and semi-massive sulphide mineralisation which has returned the following assays, including:

BON-DD-24-016
24.2 metres at 0.76 per cent copper and 0.05ppm gold from 42.3m, including 9.1m at 1.55 per cent copper and 0.08ppm gold from 57.4m.

Drill-hole BON-DD 24-021 intersected an 80-metre-wide zone of disseminated copper-gold mineralisation.

Centaurus explained all prospects remain open along strike and down-dip, with multiple Down Hole Electro-Magnetics (DHEM), Fixed Loop Electro-Magnetics (FLEM) and Induced Polarisation (IP) targets still to be tested.

The company recently extended this maiden drill campaign by an additional 2,000m to at least the end of 2024.

“The Boi Novo project is continuing to emerge as an exciting copper gold discovery with two distinct mineralisation styles,” Centaurus Metals managing director Darren Gordon said in the company’s ASX announcement.

“Our in-house EM team generated multiple DHEM and FLEM conductor plates that resulted in the discovery of the high-grade breccia zone that was intersected in drill hole BON-DD-24-016.

“The sulphide mineralisation was dominated by pyrrhotite, so we were very pleased to see that the zone of stringer and semi-massive sulphides carried sufficient chalcopyrite to return 9.1m at 1.55 per cent copper and 0.08 grams per tonne gold.

“With each drill-hole the team is improving their understanding of the controls of both the high-grade breccia mineralisation and the broad bulk-tonnage disseminated mineralisation at Boi Novo.

“Importantly, we still have multiple DHEM and FLEM plates and IP targets to follow-up with the mineralisation remaining open both along strike and down-dip.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Estrella Resources Claims New Supergene Manganese Discoveries

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THE DRILL SERGEANT: Estrella Resources (ASX: ESR) has claimed two new in-situ supergene manganese discoveries located within granted exploration licenses at the company’s Lautém Manganese project in Timor-Leste.

Estrella Resources made discovery of the Ira Miri prospect during reconnaissance mapping.

Ira Miri is described as a three-metre-high bed of outcropping supergene manganese.

The company reported portable XRF on crushed field samples returned high grades.

The second discovery is the Sica prospect an in-situ supergene manganese located in surrounding hills.

Estrella explained its exploration model predicted the position of this secondary supergene correctly.

Upcoming work is to entail collection of samples for analysis and follow-up geophysics being planned for the prospects and surrounding hills to locate additional in-situ supergene buried below scree material.

“We are thrilled to delineate further instances of wide-scale manganese mineralisation in the unexplored nation of Timor-Leste,” Estrella Resources managing director Chris Daws said in the company’s ASX announcement.

“While it is early exploration work, making discoveries is a numbers game.

“Identifying a swathe of encouraging prospects gives us a better chance of developing a high-grade manganese deposit.

“Furthermore, I am particularly impressed with the modelling work undertaken by our exploration team.

“What began with a blank sheet of paper when Estrella was first awarded tenure in December last year has emerged into a detailed and increasingly predictive discovery tool.

“Estrella will continue to develop and refine this model, which is expected to become even more powerful with the introduction of Induced Polarisation surveys, which are set to get underway soon.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Warriedar Resources Delivers 99% Ricciardo MRE Increase

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) reported an updated Mineral resource Estimate (MRE) for the Ricciardo gold deposit, part of the company’s Golden Range project in the Murchison region of Western Australia.

Warriedar Resources updated MRE for the Ricciardo deposit has come in at 16.44 million tonnes at 1.8 grams per tonne gold for 947,000 ounces of gold.

The new figure represents a 99 per cent increase in Ricciardo MRE contained gold ounces.

The updated Ricciardo MRE comprises 467,500 ounces at 1.6g/t gold open-pit gold Resource (75% Measured and Indicated); and 480,000 ounces at 2g/t gold underground gold Resource.

Warriedar noted the Ricciardo system remains wide open at depth and along strike.

Total Mineral Resources for the Golden Range project now stand at over 1.28 million ounces gold, a 58 per cent increase from the previous level.

“This is the result we have been working towards all year,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“With less than 15,000m of targeted, efficient drilling we have added over 470,000 ounces to the Ricciardo deposit, doubling the Resource.

“We are excited by both the outcome itself, and the outlook that it delivers us for the wider corridor of gold deposits.

“The simple strategy of drilling below shallow open pits to find mineable ounces worked exceptionally well for our producing neighbours.

“The validity of this strategy is now beyond doubt, for us.

“Not only is the Ricciardo system still wide open down-plunge, but the entire 25km long ‘Golden Corridor’ offers similar potential upside from such a relatively simple drilling focus.

“In the middle of the infrastructure-rich southern Murchison, and located on existing Mining Leases, the opportunity in front of us is utterly irresistible.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Black Canyon Scores Further High-Grade Manganese Results from the Wandanya Project

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THE DRILL SERGEANT: Black Canyon (ASX: BCA) reported on its latest drilling efforts at the company’s Wandanya project in Western Australia.

Black Canyon recently completed RC drilling at the W2 Prospect within the Wandanya project that intersected high-grade hydrothermal related stratabound manganese mineralisation.

The company declared the assay results had confirmed its previously released assay results.

Latest results include:

WDRC005
5m at 31.1 per cent manganese from surface, including 2m at 42 per cent manganese;

WDRC007
7m at 28.3 per cent manganese from 6m, including 5m at 34.9 per cent manganese;

WDRC013
7m at 26.3 per cent manganese from 2m, including 3m at 38.2 per cent manganese; and

WDRC021
6m at 26.3 per cent manganese from 4m, including 3m at 40.1 per cent manganese.

The mineralisation shows consistent thickness and grades, with only 240m of strike drill tested within the 3,000m long manganese corridor identified at the W2 Prospect.

Black Canyon views the W2 discovery as being complementary to the large mineral resources it has already defined across the Balfour Manganese Field and is only 80km south of the Woodie Woodie mine site.

“The company is extremely pleased with the final drill assays from the W2 high-grade manganese target,” Black Canyon managing director Brendan Cummins said in the company’s ASX announcement.

“Of the 35 holes drilled, 25 holes intersected mineralisation over 20 per cent manganese, a fantastic success rate for a first pass program.

“Even at this early stage, with these final drill assays in hand, we are now beginning to appreciate the significant potential of the W2 Prospect.

“We have mapped the mineral system at W2 for over 3000m and these assay results have tested only 240m, or less than 10 per cent, so the lion’s share of potential remains both along strike and significantly down dip.

“The W2 Prospect represents a shallow and potentially open pittable target, with all of the manganese drill intersects encountered to date within 15m of surface and most within 10m.

“The flat- dipping stratabound mineralisation will benefit follow-up drill programs by reducing exploration risk and importantly minimising drill costs to keep our discovery costs low.

“What I find most appealing about the Wandanya project though, is its simplicity.

“To date it has been quite predictable in terms of grade and thickness and now with surface mapping completed there is potential to demonstrate scale to this discovery.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Astral Resources Hits Further Wide High-Grade Intercepts at Kamperman

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THE DRILL SERGEANT: Astral Resources (ASX: AAR) reported results from the final holes of an in-fill and extensional RC drill program completed at the Kamperman prospect, part of the company’s 100 per cent-owned Feysville gold project south of Kalgoorlie in Western Australia.

Astral Resources said assays received from the final holes had confirmed the high-grade nature and upside potential of the Kamperman deposit.

Results of the 31-hole RC program were not included in the maiden Kamperman Mineral Resource Estimate (MRE) Astral announced earlier in November 2024 of 2 million tonnes at 1.3 grams per tonne gold for 83,800 ounces of contained gold.

The company said the results demonstrate the opportunity for continued MRE growth at Kamperman.

Best results included:

FRC387
33 metres at 3.75 grams per tonne gold from 58m, including 3m at 14.8g/t gold from 75m;

FRC389
10m at 1.63g/t gold from 131m and 22m at 5.21g/t gold from 149m, including 2m at 30.9g/t gold from 164m and 2m at 12.2g/t gold from 168m;

FRC388
22m at 4.44g/t gold from 105m, including 2m at 25.9g/t gold from 121m; and

FRC385
6m at 12.8g/t gold from 76m, including 1m at 63.4g/t gold from 77m;

“Following the recent release of the maiden Kamperman MRE, it is highly encouraging to now be reporting further high-grade in-fill results and a successful drill test of a previously identified high-grade zone,” Astral Resources managing director Marc Ducler said in the company’s ASX announcement.

“These results highlight the potential for MRE upside at Kamperman.

“The in-fill drill line (FRC387, FRC388 and FRC389) testing the high-grade southern zone at Kamperman returned excellent results.

“These three in-fill holes averaged a gold accumulation of 112 gram-metres through this high-grade southern zone.

“This is clearly a very successful in-fill test and bodes well for the potential to upgrade the MRE in this area.”

The Feysville project hosts a MRE of 5 million tonnes at 1.2 grams per tonne gold for 196,000 ounces of contained gold across the Kamperman, Think Big and Rogan Josh deposits.

The company considers this provides a strong foundation for the project to become a source of satellite ore feed for a future operation based on its flagship Mandilla gold project.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Uranium Set to Have its Day

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COMMODITY CAPERS: Uranium remains the under-appreciated Australian commodity despite the global membership badges our domestic industry displays.

Australia is ranked number one in the world for uranium resources, a lot of which still sits unmined.

Be that as it may, we are able to boast being ranked as the fourth largest uranium producer globally with the value of our uranium exports for the year 2023-204 hitting an impressive $1,200 million.

Australia’s uranium exports are currently produced at the Four Mile, Olympic Dam and the newly-opened Honeymoon mines in South Australia.

When the Honeymoon mine kicks in it is anticipated to push up Australia’s uranium export earnings to about $1.3 billion in 2024–25, with exports predicted to hit $1.5 billion in 2025-26.

Exploration for uranium has run rampant this year with uranium miners forking out some $15.2 million on exploration in the June quarter 2024, a healthy rise on the $3.4 million spent in the March quarter 2021.

In a recent research note on Paladin Energy (ASX: PDN) broking house ShawandPartners declared its bullish outlook for the uranium market.

“There is not enough supply to meet current demand, let alone increased demand from reactor restarts, new reactor builds and demand from Small Modular Reactors (e.g. Amazon, Google),” it said.

“The long-term contract price is continuing to shift higher each month (currently US$82/lb) and we think it is likely that contracting prices head above US$100/lb.”

Paladin Energy restarted its Langer Heinrich mine in Namibia this year after six years in care and maintenance.

Langer Heinrich is forecast to produce approximately 6Mlb of uranium when in production which is around three per cent of global supply.

“The two main issues impacting Langer Heinrich are the grade of the material on the previously mined stockpiles, and the availability of water from NamWater,” ShawandPartners said.

“Neither of these issues will be a problem post the processing of the stockpiles once production shifts to processing of freshly mined ore.

“Paladin has commented that it expects to reach full production rates of 6Mlb/yr by the end of 2025 as previously expected.”

ShawandPartners highlighted the recent run enjoyed by the spot uranium price through US$100/lb on the back of strong global support for nuclear energy to decarbonise power grids.

This has been heightened by supply constraints being felt by major producers such as Kazatomprom and Cameco.

“In our view the uranium price is likely to continue moving higher with US and European utilities not covered for the fuel requirements from 2026-2028 and limited new supply in that timeframe,” ShawandPartners said.

“It is difficult to see what will cap the upside in the short term.

“We assume a multi-year price spike to US$150/lb, before settling to our long-term U3O8 realised price assumption of US$76/lb (2024 Real) in 2030.”

Uranium will be the main agenda point at the RIU Uranium Investment Day being held at Claremont Football Club next Tuesday 19 November.

 

For information on the day CLICK HERE