Rio Tinto Contrite, But Still Digging, After Juukan Gorge Destruction

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THE BOURSE WHISPERER: Rio Tinto (ASX: RIO), publicly at least, has its tail between its legs in regards to the destruction of a 46,000-year-old Aboriginal heritage site in Juukan Gorge.

The company blew up the Juukan Gorge rock shelters in the Hamersley Range in the Pilbara of Western Australia in May to expand its Brockman 4 iron ore mine.

The Puutu Kunti Kurrama and Pinikura people (PKKP) had pleaded with Rio, telling it they wanted to preserve the site and had issued an urgent request to halt the blast five days before the detonation took place.

Photo Credit: Puutu Kunti Kurrama And Pinikura Aboriginal Corporation

Rio Tinto made a submission to a Senate inquiry into the destruction of the site, saying that it, “has unreservedly apologised to the Puutu Kunti Kurrama and Pinikura people (PKKP), and we reaffirm that apology now”.

Then came the lip-service, letting the company look contrite, but not taking away from the wanton damage it caused.

“For the benefit of current and future generations of Australians,” the company continued.

“We are determined to learn the lessons to ensure that the destruction of heritage sites of exceptional archaeological and cultural significance, such as the Juukan rock shelters, never occurs again”.

It is probably fair to give credit to the company here, as it is true the destruction of the Juukan rock shelters can never happen again, because it has happened and they can never be re-constructed for them to fall under any further protection. They’ve gone. Never to return.

What has come to light from the Senate inquiry is that Rio had another three options on the table to expand its iron ore mine that would not have damaged the caves.

Instead, it chose option four, which allowed it to, “access higher volumes of high-grade ore”, which would ensure it maintained the happiness of its shareholders who all received a healthy dividend of approximately $2.16 this year.

Rio informed the inquiry that it had engaged an independent expert to see if it could unload explosives from the relative holes before the blast.

It was found there was, “insufficient time to do so safely”.

On how much time compared to 46,000 years it did not expand.

As we were going to press a response was in the offing from Fortescue Metals (ASX: FMG) to a submission by the Wintawari Guruma Aboriginal Corporation (WGAC) regarding two rock shelters, estimated at 60,000 years old, that are under threat from FMG expansion.

 

 

 

Middle Island Resources Hits “Bonanza” Gold Intercepts at Sandstone

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) declared its latest drilling results from the company’s 100 per cent-owned Sandstone gold project in Western Australia as being “bonanza gold grade intercepts”.

Middle Island’s latest gold results emerge from the recent Phase 2 reverse circulation (RC) drilling campaign at the Sandstone gold project at the new Ridge satellite deposit.

New Phase 2 reverse circulation (RC) intercepts at Ridge include:

4m at 99.5 grams per tonne gold
4m at 50.5g/t gold
4m at 2.42g/t gold
9m at 1.05g/t gold
9m at 5.41g/t gold
2m at 5.85g/t gold
11m at 2.16g/t gold

“Phase 2 RC drilling at the new Ridge satellite deposit confirm the previous drilling and, subject to pending drilling results from the northern extension, provide further encouragement that Ridge likely represents another new open pit deposit to supplement the planned Sandstone mill recommissioning inventory,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“The veracity of a bonanza grade intercept in MSRC544 of 4m at 50.5g/t gold (from 3m depth), including 1m at 198g/t gold (from 4m) is confirmed by MSRC545, drilled 20 metres directly behind and down dip from MSRC544, which includes an intercept of 9m at 5.41g/t gold (from 22m depth).

“MSRC544 and MSRC545 are infill holes drilled towards the southern end of the Ridge satellite gold deposit.

“The bonanza intercept in MSRC530 of 4m at 99.5g/t gold (from 13m depth), includes 1m at 390g/t gold (from 14m) for which a duplicate assay of 1m at 502g/t gold was returned.

“MSRC530 is the most northerly hole assayed to date at the Ridge deposit; potential extensions to the north are being addressed via the completion of a further 37 RC holes (1,261m), for which assays results are pending.

“To the north of this, yet again, lies the Shillington Gap target, where initial exploratory RC drill traverses are planned later in the Phase 2 campaign.”

Ridge is one of a cluster of three new proximal satellite gold deposits at Sandstone, the others being McClaren and McIntyre, and all hosted within the southeast extension of the Shillington banded iron formation (BIF) package, located on granted Mining Lease M57/129, 2.5 kilometres from the company’s on-site Sandstone gold processing plant.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Azure Minerals Ready to Commence Drilling at Andover

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has commenced first stage exploration and geophysical works on the company’s recently acquired Andover nickel-copper project in the West Pilbara region of Western Australia.

Azure is purchasing – subject to shareholder approval – 60 per cent of the project with the remaining 40 per cent to be retained by vendor, the Creasy Group.

Azure has prioritised two target locations for its maiden drilling program to start this month that have been identified by work already completed by the vendor.

However, priority has been given to pre-drilling FLTEM surveys to be carried out over the two key target zones containing the earlier mineralised drill intersections.

The FLTEM surveying will utilise multiple off-set loops to increase three-dimensional definition of the conductor plates, increase the depth penetration to assess down-dip potential, and refine the drill hole targeting.

The first phase of Azure’s maiden drilling program is to comprises six diamond core holes.

Additional drilling is planned to follow-up positive results and to test new targets identified by the regional FLTEM surveys.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@azureminerals.com.au

 

Web: www.azureminerals.com.au

 

Ausgold Fills Coffers for Katanning Drill Push

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THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) is well and truly cashed-up for drilling planned at the company’s 100 per cent- owned Katanning gold project in Western Australia.

Ausgold announced it had binding commitments from institutional and sophisticated investors for a share placement to raise just over $6.3 million to underpin an extensive exploration and Resource expansion drill program at it’s the Katanning gold project.

The raising included a $3 million cornerstone investment from Canadian resources investor, Dundee Goodman Merchant Partners.

The company indicated the proceeds will be used to accelerate Resource drilling within the Central Zone at the Katanning project, which currently boasts a JORC Resource of 1.2 million ounces of gold.

“We are pleased to welcome our new investors, including Dundee Goodman Merchant Partners (DGMP), as significant shareholders in Ausgold,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Following the completion of a thorough due-diligence process, DGMP share our view of the significant potential of the Katanning gold project (KGP).

“The funds raised in this placement will be used to accelerate drill programs at the KGP, which are expected to add further high-grade Resource ounces and to advance high priority targets within the Company’s significant tenement position.

“The Mineral Resource at the KGP is currently 1.2 million ounces with clear extensions to mineralisation as demonstrated by the recent round of high-grade drill results which should add to the current gold Resource at Katanning and further improve the project economics.

“Further drilling is planned to target high-grade mineralisation down dip and north along strike where it remains open.

“With this new funding Ausgold will be expanding its current drill programs and we look forward to updating the market with further exploration success.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Antipa Minerals Well-Positioned For Exploration Triumph

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THE DRILL SERGEANT: Few junior explorers can claim a list of heavyweight partners like Antipa Minerals (ASX: AZY).

Antipa Minerals first lured a big name to join its hunt for giant deposits in Western Australia’s Paterson Province in 2015 when it struck a $60 million farm-in agreement with Rio Tinto on its Citadel project.

Since then, interest in the Paterson has exploded with Rio’s Winu copper find and Greatland Gold’s Havieron gold discovery, and Antipa has lined up two more top-class partners for other parts of its extensive landholding in the region.

In February this year, Newcrest Mining, entered a farm-in agreement over 2,180 square kilometres of ground held by Antipa that surrounds its Telfer gold operation, the largest mine in the Paterson.

Newcrest, which is keen to find new sources of ore to keep Telfer running beyond 2023 when current reserves are due to run out, can earn 75 per cent of the Wilki project, as it has been dubbed, by spending $60 million over eight years.

Antipa followed up the Newcrest deal by signing a third major farm-in agreement, this time with $3 billion gold and base metals producer IGO Ltd, at the start of this month.

Under this agreement, IGO can earn a 70 per cent interest in 1,563sqkm of tenements held by Antipa by spending $30 million over 6.5 years, with a requirement to spend at least $4 million in the first 2.5 years.

While the partners have the right to pull out after reaching certain expenditure milestones as is typical in mining industry farm-ins, Antipa could ultimately be free carried for a whopping $150 million of exploration expenditure if the agreements are all seen through to their conclusions.

The company also retains 100 per cent ownership of 144sqkm of ground in the Paterson that includes established gold-copper resources at Minyari-WACA (723,340 ounces of gold and 26,390 tonnes of copper).

In conjunction with the farm-in agreements, both Newcrest and IGO took positions on the Antipa register through share placements (Newcrest 9.9%, IGO 4.9%).

These placements have ensured Antipa is well funded to continue exploration on its 100 per cent-owned ground, study development scenarios and potentially look at new opportunities.

The company listed on the ASX in 2011 with its main asset being a package of tenements in the Paterson acquired from Centaurus Metals.

At that time, the region was far from the fashionable address for mineral exploration it is today.

But there was a recognition among board and management that it had the potential to host world-class deposits such as Telfer, which had a pre-mining endowment of 32 million ounces of gold and 1 million tonnes of copper.

They went on to assemble a commanding landholding of more than 5,000sqkm by acquiring additional ground from the likes of Paladin Energy and legendary WA prospector Mark Creasy.

The strategy has proven to be prescient with recent developments.

 

Antipa Minerals is presenting at the M+C Partners/Vertical Events Gold ‘n Brews Seminar.

RSVPs are required to attend this free event. To do so CLICK HERE.

Musgrave Minerals Drills Its Way to Gold Success

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THE DRILL SERGEANT: Musgrave Minerals has been one of the standout performers among junior gold stocks in recent months due to its success with drilling at the Break of Day deposit, part of its Cue gold project in Western Australia’s Murchison district.

Musgrave shares have soared from 10 cents at the start of April to a record high of 83 cents this week thanks primarily to some thick, near-surface and exceptionally high-grade hits from the Starlight lode at Break of Day, including:

85 metres at 11.6 grams per tonne gold from 7m,

60m at 13.1 g/t gold from 76m, and

42m at 77.3 g/t gold from 30m.

Musgrave Minerals managing director Rob Waugh, a former WMC geologist, told The Resources Roadhouse the Starlight discovery might never have happened had the company not challenged conventional thinking around the geology that features in that part of the Murchison.

“There was a slight geological anomaly that didn’t fit the existing model,” Waugh said.

“That was reason enough for us to start thinking differently.

“We turned the drill rig around.”

The mineralised structure in which existing resources at on Musgrave’as 100 per cent-owned ground at Cue (6.45 million tonnes at 3g/t gold for 613,000 ounces) are hosted run in a north-west/south-east orientation, whereas the holes drilled at Starlight are the only holes in the whole project area drilled in a north-east/south-west orientation.

The interpretation confirmed by Starlight’s discovery has shed a new light on Cue and already resulted in the discovery of another parallel lode, White Light, at Break of Day.

Musgrave has advised that it will release an updated resource estimate for Break of Day including Starlight and White Light at the end of the September quarterly, which should see a material increase to the deposit’s current resource of 868,000 tonnes at 7.2g/t gold for 199,000 ounces.

Break of Day already demonstrated the potential to support a mine; the new discovery at Starlight has only increased its development prospects as the near-surface gold should allow for rapid payback of project capital.

The Cue project is in a part of the Murchison that is rich with gold processing infrastructure, with five operational mills within proximal distance.

These mills all present potential options for treating ore from Musgrave deposits.

Drilling is continuing at Starlight with a focus on infilling and extending the high-grade mineralised at depth, where it remains open.

Musgrave is also continuing to test for new lodes within the Break of Day/Lena mineralised corridor, with a third rig due to start drilling on its 100%-owned ground at Cue in mid-August.

The company signed an $18 million earn-in and joint venture agreement with Evolution Mining in September last year over a portion of its ground at Cue include Lake Austin.

Evolution must spend a minimum of $4 million in the first two years, and as part of that activity, the partners are undertaking a large aircore drilling program identifying and testing targets on Lake Austin.

 

Musgrave Minerals is presenting at the M+C Partners/Vertical Events Gold ‘n Brews Seminar.

RSVPs are required to attend this free event. To do so CLICK HERE.

 

Saturn Metals Sees Gold in Apollo Hill Drill Intersections

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) continued to release encouraging results from ongoing reverse circulation (RC) drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Saturn Metals is drilling at Apollo Hill as part of the company’s strategy to grow the Apollo Hill project’s current 781,000-ounce Mineral Resource.

The company is anticipating a further resource upgrade to be ready for late 2020 that will incorporate results from drilling it has conducted since November 2019.

The RC drilling at Apollo Hill returned new intersections, including:

AHRC0362 (Apollo Hill main lode)
5 metres at 32.6 grams per tonne gold from 301m, including 3m at 54.2g/t gold from 301m within, 9m at 18.2g/t gold from 301m;

AHRC0363 (Apollo Hill hanging-wall intercept)
9m at 1.48g/t gold from 276m; and

AHRC0162 re-entry (Apollo Hill main lode)
5m at 1.97g/t gold from 191m.

Saturn Metals claimed the AHRC0362 result to be amongst the best intersections it has seen to date at Apollo Hill, and contains the highest-grade individual assay ever returned from the project being 1m at 128.5g/t gold from 301m.

Visible gold was also noted in association with high grades in the 3m at 54.2g/t gold intercept in hole AHRC0362.

“The latest assay results continue to highlight the 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.

“Drilling is continuing on multiple fronts across the deposit.

“Assays remain pending for several important holes around this exciting new footwall zone and we look forward to reporting on the results in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnetals.com.au

 

Web: www.saturnmetals.com.au

 

 

Middle Island Resources Scores at McIntyre Deposit

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) continued its run of positive results from a Phase 2 reverse circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island’s recent results have come in the form of broad intervals of shallow dipping, BIF-hosted gold mineralisation from surface in infill and extension drilling of the new McIntyre satellite gold deposit.

New Phase 2 reverse circulation (RC) intercepts from McIntyre include:

13 metres at 1.94 grams per tonne gold
9m at 3.53g/t gold
26m at 1.38g/t gold
18m at 1.36g/t gold
17m at 1.20g/t gold
23m at 2.08g/t gold
24m at 1.95g/t gold
18m at 2.47g/t gold
14m at 2.22g/t gold

Middle Island believes the McIntyre prospect could very well make a positive contribution to the project’s mill recommissioning inventory.

“Phase 2 infill and extension RC drilling at the new McIntyre deposit has confirmed the broad, consistent gold intercepts returned from Phase 1 RC drilling of that deposit,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“These provide further encouragement that McIntyre will likely represent a new, low strip ratio, open pit deposit to supplement the planned Sandstone mill recommissioning inventory.

“I look forward to sharing with you further Phase 2 RC drilling results, derived from the remaining four new satellite deposits, as they are received and compiled over the coming weeks.”

The McIntyre results were quickly followed up by further Phase 2 reverse circulation (RC) intercepts from the Old Town Well target that included:

3m at 20.6g/t gold
14m at 2.22g/t gold
6m at 3.23g/t gold
14m at 1g/t gold
8m at 1.8g/t gold

Middle Island considers Old Town Well is likely to represent a larger oxide gold deposit, the majority of which is shallow, including a blanket of mineralised laterite from surface.

The Old Town Well satellite deposit, situated only 600m north of the company’s 100 per cent-owned 600,000 tonnes per annum gold processing plant, will now be assessed as part of Sandstone’s current feasibility study (FS).

TO READ BOTH ANNOUNCEMENTS IN FULL: CLICK HERE and CLICK HERE

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Musgrave Minerals’ Gold Hits Continue to Shine at Starlight

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THE DRILL SERGEANT: The needle-of-truth has continued to deliver for Musgrave Minerals (ASX: MGV) with drilling at the company’s 100 per cent-owned Cue project confirming its Starlight and White Light gold discoveries.

Musgrave Minerals reported assay results for a further five reverse circulation (RC) drill holes and the first five diamond drill holes from the current program at the new Starlight gold discovery at Break of Day.

RC drilling at Starlight delivered strong gold intercepts including:

20MORC068
14 metres at 191.1 grams per tonne gold from 4m, including 3m at 884.7g/t gold from 5m, including 1m at 2,518.8g/t gold from 6m;

20MORC067
22m at 5.8g/t gold from 15m, including 3m at 26.2g/t gold from 31m;

20MORC064
5m at 14.3g/t gold from 90m; and

20MORC063
6m at 5.3g/t gold from 232m.

Diamond drilling at Starlight returned intercepts including:

20MODD008
16m at 13.7g/t gold from 18m, including 4m at 40.8g/t gold from 18m and 9m at 6.1 g/t gold from 25m; and

20MODD007
0.5m at 25.4g/t gold from 269.5m.

Musgrave is continuing with drilling at Starlight, focussing on infilling and also extending the high-grade gold mineralisation at depth.

Drilling will also continue to test for new lodes within the Break of Day/Lena mineralised corridor with a third drill rig due to commence on the 100 per cent-owned Musgrave ground in mid-August.

Recent drilling undertaken at these locations returned:

20MODD007 (White Light lode)
3.8m at 40.5g/t gold from 100.2m, including 0.75m at 203.3g/t gold from 100.2m;

20MODD007 (Twilight lode)
0.7m at 34.1g/t gold from 65.1m; and

20MORC063 (Velvet lode)
12m at 6.4g/t gold from 40m.

“Starlight continues to produce stunning gold results in near-surface drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Further RC drilling is underway to infill and extend the Starlight mineralisation with the aim of completing a JORC resource update late in Q3 2020.

“Diamond drilling is also continuing to test for depth extensions of the high-grade Starlight lode below 250 vertical metres and to further define the White Light lode.

“We anticipate having four drill rigs on site by mid-August.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Legend Mining Releases Further Mawson Drilling Results

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THE DRILL SERGEANT: Legend Mining (ASX: LEG) announced further assay results from aircore drilling carried out at the Mawson target at the company’s Rockford project in the Fraser Range of Western Australia.

Legend Mining received results from an additional 37 holes, six of which returned broad intervals with anomalous nickel and copper values associated with mafic/ultramafic intrusives.

New assay results from infill aircore drilling within the eastern geochemical nickel-copper footprint, east and northeast of the Mawson massive sulphide discovery include:

RKAC841
38 metres at 0.2 per cent nickel, 0.05 per cent copper, 0.03 per cent cobalt from 72m to EOH; and

RKAC842
43m at 0.12 per cent nickel, 0.02 per cent copper, 0.02 per cent cobalt from 64m to EOH.

“These results are from the ongoing infill aircore program at Mawson and have extended and strengthened the eastern geochemical footprint,” Legend Mining managing director Mark Wilson said in the company’s announcement to the Australian Securities Exchange.

“This footprint is a compelling target for RC/Diamond drilling which is already underway.”

 

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au