Azure Minerals Commences Exploration at Andover Nickel-Copper- Project

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has kicked off activity at the company’s recently acquired Andover nickel-copper project (60% Azure / 40% Creasy Group), in the West Pilbara region of Western Australia.

Azure Minerals said the work at the Andover project will build on work previously undertaken by its JV partner, the Creasy Group that had identified a target-rich environment for nickel and copper sulphide mineralisation.

Azure’s first exploration program at Andover is to comprise:

Ground electromagnetic surveys (FLTEM) to cover the two locations where previous drilling intersected significant quantities of nickel and copper sulphide mineralisation;
Additional FLTEM surveys to follow-up numerous other VTEM anomalies throughout the property;
Diamond core drilling program of 12 holes for approximately 3,000m;
Downhole EM (DHEM) surveying of the drill holes; and
Systematic geological mapping and sampling.

“Andover is a highly prospective nickel and copper project and we’re very excited to get on the ground and start our exploration program,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“Mark Creasy and his team have provided strong foundations for a successful project and Azure is looking forward to building on this initial work.

“Since announcing this acquisition, our shareholders have expressed significant support for the project and our reasoning in coming back to Western Australia.

“I’m looking forward to advancing Andover and the continued development of our growth strategy.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.azureminerals.com.au

 

Aruma Resources Identifies Anomalous Gold at Melrose

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) achieved further anomalous gold results at the company’s Melrose gold project in the Pilbara region of Western Australia.

Aruma Resources’ Melrose project sits on the southern edge of the Pilbara Craton, adjacent to Northern Star Resources’ (ASX: NST) Paulsens gold mine and Belvedere deposit.

The latest anomalous gold results come from two new Exploration Licence Applications (ELA47/4414 and ELA08/3244) mad by Aruma, which cover a total of 19 square kilometres at the Melrose project, hat have delivered historical gold samples up to 1.74 grams per tonne in quartz veins as well as rock chips assays.

Exploration Licence Application ELA08/3244 hosts gold mineralisation within quartz veins that were reported in Northern Star Resources’ 2012 Annual Exploration Report on the Ashburton project.

“The significance of the quartz veins in the new lease area is that they are expected to be associated with adjacent lode style gold mineralisation,” Aruma Resources said in its ASX announcement.

“Aruma will be utilising these veins to identify any associated lodes systems.”

 

 

Email: info@arumaresources.com

 

Web: www.arumaresources.com

 

Vimy Resources DFS Refresh Improves Mulga Rock Numbers

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THE BOURSE WHISPERER: Vimy Resources (ASX: VMY) completed its revisitation of the Definitive Feasibility Study for the company’s 100 per cent-owned Mulga Rock project in Western Australia.

Vimy Resources declared the refresh demonstrates that the uranium project will generate stronger financial returns than previously forecast.

Nutshell-wise the project economics now stand at:

─ Net Present Value pre-tax US$393 million, a 14 per cent increase
─ Internal Rate of Return 31 per cent, a 23 per cent increase
─ Capital cost of US$255 million, a 20 per cent reduction
─ Payback 2.4 years, reduced by 8 months
─ Free cash flow US$61 million year, a 22 per cent increase

The refresh also improved operating costs:

─ Cash operating cost (C1) of US$23.33 uranium over the first 5 years, an 8 per cent decrease
─ C1 of US$26.02 uranium over Life of Mine, a 7 per cent decrease
─ All In Sustained Costs of US$28.09 uranium over the first 5 years and US$31.22 uranium over Life of Mine, both an 8 per cent decrease

“The DFS Refresh reinforces the global importance of the Mulga Rock project, which is the largest advanced uranium project in Australia; a first-world jurisdiction with low sovereign risk,” Vimy Resources CEO Mike Young said in the company’s announcement to the Australian Securities Exchange.

“With a completed DFS and State and Federal Government approvals, it is leader of the pack in terms of the next wave of world-wide uranium projects.

“The Refresh has been transformational for the project and moves it into the middle of the uranium producer AISC cost curve and on par with the higher cost Kazakh operations and well ahead of most other uranium juniors.

“As we move into the coming contracting cycle, the utilities will look very favourably on our location in Australia, our multi-mine pipeline, and our long, sustainable mine life at Mulga Rock.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@vimyresources.com.au

 

Web: www.vimyresources.com.au

 

Stavely Minerals Sees Parallel Gold Lode Emerging at Cayley Discovery

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THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported further strong assay results from drilling at the Cayley shallow high-grade copper-gold discovery deposit withing Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Stavely Minerals has long considered there to be at least two parallel zones of higher-grade copper-gold-silver mineralisation located close to surface within the chalcocite-enriched blanket that hosts the Stavely project’s current 28 million tonnes at 0.4 per cent copper Inferred Mineral Resource.

The company’s interpretation of previous drilling has been drilling targeting the Cayley Lode would begin to encounter the parallel Cayley Lode Splay (CLS) at shallow depths as it progressively advances to the west.

The recent drilling appears to have done just that, encountering a very broad zone of copper mineralisation, including a shallow 18 metres intercept in the interpreted near-surface position of the parallel Copper Lode Splay (CLS).

SMD093
299.7 metres at 0.4 per cent copper from 35m down-hole, including 64m at 0.68 per cent copper from 35m, including 18m at 1.11 per cent copper from 36m in the interpreted Copper Lode Splay; and

30.1m at 1.44 per cent copper, 0.21 grams per tonne gold and 4.4g/t silver from 304.6m in the Cayley Lode, including 4m at 3.17 per cent copper, 0.26g/t gold and 7.5g/t silver.

“The Cayley Lode continues to deliver consistently good widths of high-grade copper, gold and silver mineralisation with some excellent new high-grade results from the south-eastern end in holes 94, 95, 96 and 97,” Stavely Minerals executive chairman Chris Cairns said in the company’s announcement to the Australian Securities Exchange.

“For some time, we have been predicting that, as the collars of drill holes testing the Cayley Lode mineralisation at increasing depths migrate further west, the upper portions of these drill holes should start to intercept the inferred near-surface position of the Copper Lode Splay.

“The identification of the Copper Lode Splay close to surface may have significant implications for the scale of a potential Phase 1 open pit development.

“Clearly there is a great deal of drilling to be done to confirm this potential, but we do now have the funding available to pursue this opportunity aggressively.

“These multiple lode intercepts really highlights that we have a large amount of drilling to do before we get to the position of detailed studies, and we must caution that there is no guarantee of a positive economic outcome when we do.

“However, we need to be thinking of the potential scale of the system as it becomes better drill defined and what that could translate to as a development proposition.

“The potential for additional near-surface lodes could add to that in a meaningful way, not to mention what additional lodes at depth may mean for a possible Phase 2 underground.

“In addition to completing the drilling required for a maiden JORC Mineral Resource estimate later this year, we are also commencing various ancillary programs including metallurgical test-work, environmental monitoring and groundwater monitoring that will provide critical information to the various stages of future development studies.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stavely.com.au

 

Web: www.stavely.com.au

 

Moho Resources Pleased with Sampson Dam Gold Recoveries

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THE DRILL SERGEANT: Moho Resources (ASX: MOH) reported results from preliminary metallurgical tests conducted on composite samples of gold mineralisation from the East Sampson Dam gold prospect at the company’s Silver Swan North project in Western Australia.

Moho Resources declared the results as “excellent” with the composite samples representing 99 per cent of mineralisation within the prospect’s preliminary pit shell design.

Conventional cyanide leaching yielded 95.6 per cent and 95.9 per cent overall gold recovery replicating standard Kalgoorlie toll treatment processing.

Reasonably high gold recoveries of 41.8 per cent to 52.9 per cent were also achieved from conventional gravity tests.

“Moho is very encouraged by the positive metallurgical results on the East Sampson Dam samples, particularly as they represent greater than 99 per cent of mineralisation within preliminary pit shell design and the high overall gold recoveries have been achieved using conventional cyanide leaching similar to standard Kalgoorlie toll treatment plants,” Moho Resources managing director reiterated in the company’s announcement to the Australian Securities Exchange.

Moho had the tests carried out as part of a scoping study that is assessing the potential viability of East Sampson Dam gold mineralisation.

Further test work is hoped to provide information, armed with which Moho may approach toll millers to secure a toll milling agreement, confident that the potential mineralisation to be mined can be treated successfully through their mill at their operating conditions.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@mohoresources.com.au

 

Web: www.mohoresources.com.au

 

Saturn Metals Encounters Strong Gold Hits at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced further pleasing results from ongoing RC drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian goldfields.

Saturn Metals’ latest drilling at Apollo Hill is a key part of the company’s strategy to grow the project’s current 781,000 ounce Mineral Resource with a further resource upgrade targeted for late 2020, incorporating results from drilling conducted since November 2019.

Recent high-grade and thick intersections achieved on the main lode include:

AHRC0375
7 metres at 5.55 grams per tonne gold from 286m, including 3m at 12.1g/t gold from 287m;

AHRC0367
19m at 1.06g/t gold from 230m, including 12m at 1.46g/t gold from 232m; and

AHRC0367
24m at 1.02g/t gold from 280m, including 12m at 1.62g/t gold from 290m.

“The latest results continue to show the strong potential to improve both the scale and quality of the Apollo Hill gold system,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We have mobilised a third RC drill rig to site to allow us to attack several areas across the deposit simultaneously.

“Assays remain pending for several important holes and we look forward to reporting on the results in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

Kin Mining Claims East Lynne Gold Discovery

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported new assay results from air-core (AC) drilling carried out at the East Lynne prospect at the company’s 100 per cent-owned Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining considers the results to be of some “significance” as the East Lynne prospect is located just three kilometres from the proposed plant site at the CGP.

Results include:

EL20AC041
20 metres at 1.36 grams per tonne gold from 20m;

EL20AC042
4m at 1.29g/t gold from 32m;

EL20AC078
4m at 0.97g/t gold from 16m;

EL20AC079
8m at 0.91g/t gold from 24m; and

EL20AC090
4m at 1.72g/t gold from 12m.

The company claimed the drilling discovered shallow, ore grade mineralisation in new zones not previously drilled with attendant high-grade rock chips from goethite-rich, altered felsic volcanic rocks at surface.

Follow up AC drilling has commenced to in-fill and extend the zones at 200m line spacing.

“The East Lynne target is a significant structural and geochemical greenfields target within the CGP,” Kin Mining managing director Andrew Munckton said in an exhaustive quote in the company’s announcement to the Australian Securities Exchange.

“There are several sets of workings along the target that have produced high-grade rock chips, significant alluvial gold won by prospectors and strong high-grade drill results from holes drilled immediately under the old workings.

“However, there has been limited and inadequate testing of the mineralised trends by previous explorers, and the target is ripe for a systematic, broad-spaced drill testing program to test the entire length and width of the anomaly and highlight new zones for immediate follow-up.

“We started the program at the northern end of the target in July and have been working our way south, with the entire 15,000 metres program now complete.

“The results from the initial four lines of drilling are excellent, particularly considering the wide-spaced nature of the drilling.

“Significant new zones of mineralisation have been discovered in AC lines 3a, 3b and 4b in four-metre composite sampling and mineralisation marked by historical workings has been extended.

“These new zones are being immediately followed up with in-fill and extension AC drilling at 200 metres line spacing before potentially commencing RC drilling programs.

“We also look forward to receiving the assay results from the remaining 10 lines of 400 metres spaced drilling in the central and southern sections of the East Lynne geochemical anomaly.

“If these are also successful then further in-fill AC and follow-up RC programs are likely to commence as a priority.

“Once the diamond rig has finished at Cardinia Hill, we also plan to drill two diamond holes at East Lynne to give us a clearer picture of the structural orientation and controls on the mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Galan Lithium to Focus on HMW Project Following Pond Modelling Results

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has sharpened its focus on the company’s Hombre Muerto West lithium project in Argentina.

Galan Lithium made the adjustment following the completion of preliminary predictive modelling for brine concentration through an evaporation ponds system at the HMW project.

Results indicate concentrate with up to a 4.8 per cent lithium (or 25.6% Lithium Carbonate Equivalent (LCE)) can be obtained including high lithium recovery and low impurities.

Galan declared HMW has the potential to be a world class lithium brines project.

“The preliminary modelling results for HMW confirm that it is a higher priority development project than Candelas,” Galan Lithium managing director JP Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“Our efforts are now fully focussed on developing an economic and competitive project at Hombre Muerto West.

“Importantly, due to the project’s high-grade/low-impurity settings, Galan’s HMW project ranks very favourably amongst new developing lithium brine projects in the world-renowned lithium triangle.

“We fully believe in our special project and are primarily focused on proving that HMW can and will be, a future lithium producer.

“We remain on track to deliver our PEA/Scoping Study in Q4 2020.

“We look forward to continuing to optimise results and to test work further solutions once we have our brine delivered to the laboratory.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.galanlithium.com.au

 

Dreadnought Resources Confirms Copper-Gold Targets

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) declared the confirmation of new targets at the Fuso and Paul’s Find copper-gold targets within the company’s Tarraji-Yampi project in Western Australia.

Dreadnought Resources made the confirmation via the results of 3D inversion of detailed magnetic and gravity data surveys recently undertaken at the Fuso and Paul’s Find targets.

The 3D inversion at the Fuso target refined and confirmed an intense south-east dipping magnetic anomaly with a central gravity anomaly associated with demagnetisation that Dreadnought believes to be a geophysical signature typical of Proterozoic copper-gold deposits such as those seen in Tennant Creek and Mt Isa.

At Paul’s Find, the survey spotted an intense, isolated, reversely/remanently magnetised anomaly with a coincident density anomaly.

Inversion modelling suggests the isolated feature is located near surface, measuring approximately 300m by 200m.

“Dreadnought is excited about the results of these surveys which highlight the scale and attractiveness of our targets in an area which seen no exploration since 1978,” Dreadnought Resources managing director Dean Tuck said in the company’s announcement to the Australian Securities Exchange.

“Fuso and Paul’s Find are large and intense coincident magnetic-gravity targets completely undercover with an abundance of copper-gold-bismuth-antimony smoke.”

RC drilling at Fuso will test the contacts of the magnetic and gravity anomalies as well as the centre of the gravity anomaly.

At Paul’s Find, RC drilling will test the coincident magnetic and gravity anomaly.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@dreadnoughtresources.com.au

 

Web: www.dreadnoughtresources.com.au

 

Riversgold Commences Kurnalpi Field Work

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THE DRILL SERGEANT: Riversgold (ASX: RGL) is out and about conducting field work activities at the company’s Kurnalpi project, east of Kalgoorlie in Western Australia.

Riversgold has mobilised a field crew to carry out sampling activities and to validate remote sensing regolith interpretation.

The company’s consultant geologists have identified over 40 potential targets from the reprocessing of available magnetics datasets.

Initial remote sensing interpretation shows 14 of those targets are potentially amenable to conventional soil sampling as first pass exploration method.

Consultants are now refining targets by validating the magnetics interpretation against historical data, geological information and new field data acquisition in order to prioritise work over the next weeks.

Following this next phase of work, Riversgold expects to be in a position to start permitting of drilling activities on first order targets under cover, which it hopes to commence next quarter when the weather allows for access on and around salt lakes.

“We are very excited to finally have boots on the ground after 18 months of inactivity in the company,” Riversgold executive director Xavier Braud said in the company’s announcement to the Australian Securities Exchange.

“The sampling currently underway will help us confirm existing targets, generate new ones and prepare for the next phase of exploration.

“We are defining and working through an impressive pipeline of projects, finally extracting the full value of our outstanding tenement package.

“We look forward to be updating the market with results from the field.

“Our systematic, back to basics approach is already showing more early exploration targets than we ever had before.

“The search for the next significant gold deposit in the Kalgoorlie region is now well underway.”

The company is cahsed up to carry out its current activities due to the recent receipt of just over $173,000 being first substantial cash payment from Mamba Minerals for its farm-in acquisition of Riversgold’s Alaskan projects.

“This cash payment is a welcome addition to the Kurnalpi exploration budget, realising value from both our Alaskan Tenements and our Western Australian assets,” Braud said.

“We are looking forward to a mutually beneficial collaboration with Mamba Minerals over the Alaskan projects.”

 

 

Email: info@riversgold.com.au

 

Web: www.riversgold.com.au