Encounter Resources Identifies New Copper-Gold Drill Targets at Lamil

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) recently completed IP and AEM surveys at the company’s 100 per cent-owned Lamil copper-gold project in the Paterson Province of Western Australia.

Encounter Resources said the surveys had “highlighted compelling new targets” at the Lamil project.

The Lamil project covers an area of around 61 square kilometres 25km northwest of the gold-copper mine at Telfer, owned by Newcrest Mining (ASX: NCM) and 40km north of Encounter’s own Yeneena copper-cobalt project, also in the Paterson Province.

Encounter completed an AEM Survey at Lamil in September 2019 to cover an area previously covered by an IP survey that was completed in August.

The geophysical surveys have combined to produce an enhanced geological interpretation and structural setting of the project area and have highlighted two new drill targets.

Target 1 is an untested chargeability anomaly below thick zones of copper-gold anomalism that was subjected to historical drilling by Newmont in the 1980s.

Targeting gold, this drilling intersected shallow thick zones of strong copper-gold anomalism.

The IP survey highlighted a semi-coincident chargeability anomaly below the broad zones of copper and gold anomalism intersected by the shallow historical drilling.

Encounter indicated this target will be drill tested by one or two diamond holes to a depth of 300 metres to determine if the chargeability anomaly represents a stronger accumulation of copper-gold mineralisation.

Target 2 is a group of untested IP chargeability anomalies discordant to stratigraphy.

These chargeability anomalies were identified across the three southern IP lines adjacent to a corridor of magnetic anomalism.

Historical drilling targeted on the magnetics intersected copper sulphide mineralisation.

The chargeability anomalies were not tested by the prior drilling.

Encounter is confident that drilling at Target 2 will determine if the chargeability anomaly represents stronger sulphide development associated with higher grade copper-gold mineralisation.

“The recently completed IP and AEM surveys have defined new compelling drill targets at Lamil,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“These surveys have also significantly enhanced the geological interpretation at Lamil where previous drilling has intersected thick zones of copper-gold mineralisation.

“These exciting new drill targets will be tested in an EIS co-funded drill program planned for early in the new year.”

Lamil has been awarded a competitive EIS co-funded drilling grant of up to $150,000, which is available from January 2020.

Encounter indicated the drill targets defined in the IP and AEM surveys will be tested in a co-funded drill program early in the new year.

 

Email: contact@enrl.com.au

Web: www.enrl.com.au

 

THE DAILY ROADHOUSE

 

Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Carawine Resources Identifies New Victorian Porphyry Copper-Gold Targets

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey completed at the company’s 100 per cent-owned Jamieson project in northeast Victoria, host to the Hill 800 and Rhyolite Creek prospects.

Alicanto Minerals Completes Geophyisal IP Survey at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

 

Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Musgrave Minerals recently completed a six-hole RC drill program at Break of Day that extended the high-grade gold mineralisation to the south as well as identifying a new high-grade ‘link-lode’ structure between the two main Twilight and Velvet gold lodes.

The company explained the identification of a high-grade ‘link-lode’ structure at Break of Day could hold some significance.

Linking structures are present in many Yilgarn gold deposits and have the potential to add lots of ounces and improve the economics of the deposits by increasing ounces per vertical metre within sections of the deposit.

Drill hole 19MORC037 was drilled to confirm a high-grade thicker section of the Break of Day system and test a new structural interpretation.

The hole identified a quartz dominant linking structure and gold lode assaying:

45 metres at 11.8 grams per tonne gold from 144m down hole, including 5m at 29.2g/t gold from 150m; and
23m at 16.2g/t gold from 166m.

Musgrave said it has yet to confirm the strike and plunge of the mineralisation in 19MORC037, which has made it difficult for the company to estimate the true width of the intersection at this time.

“Drill hole 19MORC037 (45m at 11.8g/t gold) was drilled to test a new hypothesis and structural interpretation and is a fantastic high-grade result for Break of Day on intersecting a potential new link-lode,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This result opens numerous possibilities and opportunities to discover additional lodes and grow the Break of Day resource.

“Break of Day continues to deliver consistent high-grades and a few nice surprises.”

Drill hole 19MORC031 was drilled 35m south of previous drill hole 19MORC015 (2m at 9g/t gold) and returned a high-grade result of:

6m at 5.6g/t gold from 126m down hole in 6m composite samples.

Hole 19MORC033 intersected:

2m at 3.3g/t gold.

This was encountered 50m down dip of 19MORC015 and Musgrave has interpreted this to indicate the mineralisation continues at depth and is plunging to the south.

Musgrave is already planning additional follow-up drilling that will be scheduled for Q1 2020, which the company expects to lead to a resource update in Q2 2020.

The Break of Day area is excluded from the Earn-in and Exploration Joint Venture Musgrave has with Evolution Mining (ASX: EVN).

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

Carawine Resources Identifies New Victorian Porphyry Copper-Gold Targets

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey completed at the company’s 100 per cent-owned Jamieson project in northeast Victoria, host to the Hill 800 and Rhyolite Creek prospects.

Carawine Resources declared the survey as an “outstanding success”, saying that it has provided support for the potential for porphyry targets beneath Hill 800 and Rhyolite Creek while confirming existing targets and providing a number of exciting new anomalies.

“Since establishing a link between mineralisation at Hill 800 and the potential for large gold and copper porphyry mineral systems at the Jamieson project we have been working to identify and refine targets for drill testing,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

Carawine had recently established the potential for gold and copper mineralisation at its Hill 800 prospect to be related to a copper-gold porphyry system.

This was based on its analysis of multi-element geochemical data and the recognition of an alteration pattern typical of porphyry mineral systems that followed the identification of several new prospects around Hill 800 with strong magmatic / porphyry geochemical signatures, and the recognition of two broad but distinct regional-scale magnetic anomalies at Hill 800 and Rhyolite Creek.

Having established this potential, Carawine has been working to advance its porphyry targets to the drill testing stage.

“Magnetic anomalies are commonly associated with mineralised porphyry systems and therefore provide excellent drill targets,” Boyd continued.

“The results from this detailed survey will be used to model the size and depth of each anomaly, which can then be prioritised for drill testing.”

Carawine explained that the detailed heli-mag survey data identified a number of new, individual magnetic anomalies from within the broad magnetic complex underlying the Hill 800 area.

A clear relationship between gold mineralisation has also been previously defined by drilling and surface geochemistry and the larger magnetic anomaly complex, highlighting each individual anomaly as high priority targets.

What has whetted the company’s interest is a discrete magnetic high north-west of the surface exposure of the Hill 800 deposit encompassed by a distinct magnetic low.

Current drilling at Hill 800 is testing the down-dip extensions to the deposit, which appears to be trending directly towards this discrete magnetic high.

This anomaly has therefore been prioritised for three-dimensional (3D) modelling to determine its size and depth prior to designing a program for direct drill testing

“Of particular interest is a magnetic high anomaly potentially down-dip from Hill 800, where we are currently drilling,” Boyd said.

“This anomaly is characteristic of the typical geophysical response from a mineralised porphyry copper-gold stock and is therefore high on the priority list for modelling and drilling.

“We look forward to updating the market with results of this work and the drill program design in coming weeks.”

 

Email: info@carawine.com.au

Web: www.carawine.com.au

 

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

Ausgold indicated it will also be conducting a Share Purchase Plan (SPP) to existing eligible shareholders.

Under the Placement, the company will issue a total of 198 million shares at an issue price of 1.2 cents per share.

Proceeds from the Capital Raising are earmarked for accelerated exploration at the company’s Katanning gold project (KGP), financing an exploration drilling campaign designed to target further high-grade mineralisation within the Central Zone at KGP, the completion of metallurgical test work and to provide additional working capital.

The company indicated the planned drilling program will target Resource extensions including the following recent intercepts of:

26 metres at 6.6 grams per tonne gold from 117m, including 4m at 37.2g/t gold;
16m at 6.2g/t from 114m, including 4m at 22.4g/t gold;
15m at 3.7g/t from 117m, including 5m at 10.4g/t gold; and
17.6m at 2.2g/t gold from 55m.

“An extensive drill campaign will commence immediately targeting high-grade gold mineralisation within the Central Zone of Katanning gold project,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This new drilling will build on the findings of the recent Scoping Study and will include extensions to the high-grade gold mineralisation identified in areas where this mineralisation remains open both along strike and down-dip.

“It is anticipated that drilling these extensions will further expand the current 1.2- million-ounce gold Resource.

“The planned exploration will also extend to Ausgold’s regional targets including the Burong and Nanicup Bridge prospects, leveraging on the recently awarded $150,000 of co-funding provided under the WA Government’s Exploration Incentive Scheme.

“Drilling these prospects, along with other low-cost high-impact exploration programs, will be conducted on Ausgold’s regional land package of over 4,000 square kilometres of underexplored Archean greenstone belt, further developing the company’s geological understanding of the region.

“The company is now well positioned to accelerate its exploration programs at the Katanning gold project and looks forward to updating the market as results become available.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

Alicanto Minerals Completes Geophyisal IP Survey at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.

Alicanto Minerals said the survey identified multiple new, large-scale IP chargeability and resistivity anomalies it believes may correspond to both disseminated and semi-massive sulphide bodies.

In line with the IP anomalies are rock chip results of up to 11.9 per cent copper and 2.9 grams per tonne gold across four separate mapped mineralised trends, over one kilometre strike that are completely open.

Alicanto said multiple IP anomalies were also identified under shallow cover that at this stage remain unsampled and undrilled.

The company explained that the IP only covers 300 metres of strike on regional scale alteration and the structures that have been identified and mapped by Alicanto geologists over 14km are still considered highly prospective for both high-grade and bulk tonnage copper-gold mineralisation.

The Wolf Mountain prospect is yet to be subjected to the drill bit and the company considers these newly identified IP anomalies as high priority drill targets.

“Our initial IP survey at the Wolf Mountain prospect has identified multiple undrilled, large-scale anomalies prospective for high-grade copper-gold mineralisation,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.

“Previously mapped, mineralised trends with coincident high-grade rock chips of up to 11.9 per cent Copper and 2.9 grams per tonne gold, are highlighted by the survey.

“However, excitingly, further large-scale targets have also been identified under thin glacial cover, and all targets are undrilled and remain open along strike.

“The IP was conducted to follow up on the recent identification of a regional scale greater than-14-kilometres long hydrothermal system at Wolf Mountain, considered prospective for high-grade and bulk-tonnage copper-gold mineralisation.

“The survey only partially covers a 300 metre portion of the identified mineralised trend and mineralisation is open in all directions providing great encouragement for further exploration.”

Alicanto is concurrently undertaking 1,000 metres of maiden diamond drill testing of multiple high-grade copper, zinc and gold targets at Naverberg and Oxberg.

“In addition to the proposed maiden diamond drilling at the advanced, high-grade Oxberg and Naverberg zinc-lead-copper-silver-gold VMS targets, Alicanto intends to advance the newly identified anomalies at Wolf Mountain to initial diamond drill testing in the next few months,” George continued.

“Further Geophysical surveys are also being planned and Alicanto will inform the market of these as the company proceeds.

“Industry leading geophysical consultants, Southern Geoscience, are also currently reinterpreting all of the historical and existing geophysical datasets from the region, with new target areas anticipated to drive the next phase of exploration and drilling on the project areas.

“In addition, results from the 12,000 metre diamond drilling program at the Arakaka gold project in Guyana, fully funded by NordGold SE, are anticipated in the near future.”

 

Email: admin@alicantominerals.com.au

Web: www.alicantominerals.com.au

 

THE DAILY ROADHOUSE

 

Blackstone Minerals signs MoU with Korea’s Largest EV Battery Cathode Producer

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) has entered a memorandum of understanding (MoU) with Korea’s largest electric vehicle (EV) battery cathode manufacturer.

NTM Gold Hits High-Grade Gold at Hub Prospect

THE DRILL SERGEANT: NTM Gold (ASX: NTM) has recently completed a round of RC drilling at the Hub prospect at the company’s 100 per cent-owned Redcliffe gold project located near Leonora in Western Australia.

Trigg Mining Doubles Lake Throssell Project

THE DRILL SERGEANT: Trigg Mining (ASX: TMG) has wasted little time since listing to complete three in-field exploration milestones at the company’s two Sulphate of Potash (SOP) projects near Laverton in Western Australia.

Red 5 Signs Option Agreement to Purchase Cables and Mission Gold Deposits

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), via its wholly-owned subsidiary, Darlot Mining Company (DMC), has entered into an Option and Sub-lease Agreement for the right to acquire a sub-lease over the 13 blocks of Exploration Licence E37/1220 in Western Australia.

 

Trigg Mining Doubles Lake Throssell Project

THE DRILL SERGEANT: Trigg Mining (ASX: TMG) has wasted little time since listing to complete three in-field exploration milestones at the company’s two Sulphate of Potash (SOP) projects near Laverton in Western Australia.

Trigg Mining completed a heritage survey with the Ngaanyatjarra traditional owners at the Lake Throssell SOP project, which led to the completion of the very first SOP sampling program across Lake Throssell, from which results are expected early in the next quarter.

The company was encouraged enough by the early sampling results produced that it has now applied for two additional tenements to the north and the south of Lake Throssell along the interpreted underlying palaeochannels, securing the palaeo-system and taking the project area to 752 square kilometres.

Elsewhere in the company’s portfolio, the first drilling program at Lake Hope Campbell within Laverton Links has also been completed with 1463metres of air core drilling across 20 holes testing the entire 100 kilometres of the palaeochannel.

Drilling targeted the gravity lows detected by the recently completed ground gravity survey in combination with the existing publicly available aerial electromagnetic (AEM) survey.

Trigg declared the drilling encountered traditional Goldfields style palaeovalley sediments including a lacustrine clay aquitard up to 50m thick and basal sand and gravel aquifer beneath the clay up to 40m thick.

The drill rig has now moved to Lake Rason where 500m of drilling is planned to supplement previous air core drilling results and will allow for an initial Mineral Resource estimate to be calculated.

“In just a few weeks since listing we have completed multiple significant milestones,” Trigg Mining managing director Keren Paterson said in the company’s announcement to the Australian Securities Exchange.

“At Lake Throssell – a heritage survey, reconnaissance sampling and additional tenement applications covering the Lake Throssell system have been completed.

“At Laverton Links we’ve finished the first drilling program at Lake Hope Campbell which encountered multiple intersections of up to 40 metres of basal sands and gravels.

“Assay results for the sampling programs are expected next quarter and initial mineral resource estimates to follow.

“I would like to take this opportunity to extend our gratitude to the of the Ngaanyatjarra, traditional owners of Lake Throssell, for their support in helping us to achieve the heritage clearance and for the cultural exchange we experienced.

“The field program will continue over the next few weeks with further drilling planned at Lake Rason and East Laverton and I look forward to keeping the market up to date on our rapid progress across both Projects with assay results and initial mineral resource estimates due next quarter.”

 

Email: info@triggmining.com.au

 

Web: www.triggmining.com.au

 

Red 5 Signs Option Agreement to Purchase Cables and Mission Gold Deposits

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), via its wholly-owned subsidiary, Darlot Mining Company (DMC), has entered into an Option and Sub-lease Agreement for the right to acquire a sub-lease over the 13 blocks of Exploration Licence E37/1220 in Western Australia.

The acquisition area totals 38.7 square kilometres and includes the Cables and Mission gold deposits, which were last reported by Leopard Resources on 5 February 2014 to contain total combined JORC 2004 Inferred Resources of 185,000 ounces.

Red 5 will pay a total acquisition cost of $2 million, with a further $500,000 payable on delineation and reporting of a 500,000 ounce JORC 2012 Resource.

The deposits are located 10 kilometres from Red 5’s Darlot gold mining and processing operations.

According to Red 5 managing director Mark Williams the proposed acquisition represents another strategic low-risk opportunity to grow the company’s Resource base in the area surrounding the Darlot gold processing plant.

“We are delighted to have the option to acquire the southern portion of E37/1220,” Williams said in the company’s announcement to the Australian Securities Exchange.

“It is last reported to contain JORC 2004 Inferred Resources totalling 185,000 ounces and is located adjacent to our existing Darlot operations.

“Significantly, the rock units hosting the Cables and Mission deposits are similar to those that host the Centenary orebody, which is currently being mined from underground at Darlot.

“This agreement over the Cables and Missions deposits follows the option agreement we recently secured over the Great Western deposit, with these proposed acquisitions having the potential to provide additional sources of ore feed for the Darlot processing plant.”

The agreement entitles Red 5 to conduct due diligence and drilling activities within the Sub-lease Area to determine the potential of the Cables and Mission deposits to be upgraded to Indicated ± Measured Resource status, and to be mined and trucked to the company’s Darlot processing plant.

The company indicated that should the due diligence be completed to its satisfaction and the option exercised, Red 5 intends to conduct drilling programs and other activities to produce a JORC 2012 compliant Resource as quickly as possible.

 

Email: info@red5limited.com

 

Web: www.red5limited.com

 

NTM Gold Hits High-Grade Gold at Hub Prospect

THE DRILL SERGEANT: NTM Gold (ASX: NTM) has recently completed a round of RC drilling at the Hub prospect at the company’s 100 per cent-owned Redcliffe gold project located near Leonora in Western Australia.

NTM Gold is carrying out the drilling to test northern and southern extensions as well as shallow grade continuity.

The first holes of the program tested shallow mineralisation and returned excellent grades close to surface.

These holes also targeted the up-dip mineralisation to test the grade continuity close to surface.

Better results from the initial five-metre composite samples include:

15 metres at 8.5 grams per tonne gold from 25m;
25m at 5.4g/t gold from 20m, including 5m at 20.3g/t gold;
15m at 4.9g/t gold from 20m, including 10m at 6.6g/t gold; and
10m at 4.1g/t gold from 25m, including 5m at 6.8g/t gold.

Two holes testing deeper grade continuity returned positive results from initial five-metre composites, including:

10m at 4.5g/t gold from 135m; and
10m at 2.6g/t gold from 105m.

The results are from the first eight of a planned 37 RC hole program the company expects to continue until Christmas.

NYM indicated that on completion of the shallower holes, RC drilling will next focus on a number of diamond pre-collars, before moving to extensional drilling along strike.

Diamond drilling has also commenced and is testing for deeper extensions to the gold mineralisation and will also provide valuable geological information.

“These shallow RC results highlight the substantial value of Hub with exceptional grades close to surface,” NTM Gold managing director Andrew Muir said in the company’s announcement to the Australian Securities Exchange.

“Hub has continued to grow with each program and we are optimistic this continues with the current program.

“RC and diamond drilling remains ongoing with more results due in the following weeks after completion of the pre-collars.”

 

Web: www.ntmgold.com.au