Venture Minerals and Chalice Gold Mines Sign South West Project Agreement

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) inked a Binding Terms Sheet with Chalice Gold Mines (ASX: CHN) with the aim of unlicking the potential of Venture’s South West project in Western Australia.

Chalice Gold Mines made news recently by claiming discovery of the Julimar nickel-copper-PGE discovery in a new province near Perth.

The company has committed to spend up to $3.7 million to earn 70 per cent in Venture’s South West project, located south of Perth.

Chalice will advance previous exploration completed by Venture to test for nickel-copper-PGE sulphides in potential ultramafic-mafic intrusive complexes sitting under cover within the South West project.

The two main prospects within the project are Thor and Odin that both contain areas of potential nickel-copper-PGE prospectivity.

Thor is a 20km long magnetic anomaly associated with chromium rich rocks indicative of maficultramafic intrusions.

Odin has previously been subjected to one drill hole drilled that encountered nickel and copper sulphides within a prospective maficultramafic unit that extends over 10 strike kilometres.

This was further supported by surface sampling returning nickel and copper geochemical anomalies.

“The company looks forward to seeing Chalice use its nickel-copper-PGE exploration expertise at the South West project, which sits in the same geological terrane to that of the Julimar discovery,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“This gives Venture shareholders the best opportunity of bringing forward any potential Julimar ‘look-a-like’ discovery within the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Eagle Mountain Mining Cashed-up for Oracle Ridge Exploration

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THE BOURSE WHISPERER: Eagle Mountain Mining (ASX: EM2) has received firm commitments to raise $3 million via a share placement.

Eagle Mointain Mining will use the funds to carry out exploration drilling at the company’s high-grade Oracle Ridge copper project in Arizona, USA.

The company will put the funds towards a surface diamond drilling program at the Oracle Ridge project, and to potential acquisitions of prospective ground in the vicinity.

The initial drilling program at Oracle Ridge will target extensions to high-grade portions of the existing Mineral Resource Estimate (MRE) in three priority zones.

“The successful completion of this placement sees the company being well funded to conduct a maiden diamond drilling program at our high-grade Oracle Ridge copper project in Arizona,” Eagle Mountain Mining chief executive officer Tim Mason said in the company’s announcement to the Australian Securities Exchange.

“Priority drill targets have been defined in prospective zones for higher-grade copper mineralisation as extensions to the existing mineralisation.

“We look forward to updating the market as results arise in the coming months.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@eaglemountain.com.au

 

Web: www.eaglemountain.com.au

 

Blackstone Minerals Hits 200m High-grade nickel-copper-PGE Zone

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has continued to encounter massive sulphide in its maiden drilling program underway at the Ban Chang target, part of the company’s Ta Khoa nickel-copper-PGE project in Vietnam.

Blackstone Mineral’s drill hole BC20-02 at Ban Chang hit a 200 metres long zone of high-grade nickel-copper-PGE with the following high-grade results:

BC20-02

4.1 metres at 0.92 per cent nickel, 0.69 per cent copper, 0.05 per cent cobalt and 0.26 grams per tonne PGE from 85.9m:

Or

2.3m at 1.6 per cent nickel, 1.09 per cent copper, 0.09 per cent cobalt and 0.43g/t PGE from 85.9m, including 1.8m at 2.01 per cent nickel, 1.27 per cent copper, 0.12 per cent cobalt and 0.53g/t PGE from 86.4m.

All four holes Blackstone has drilled to date at Ban Chang have intersected massive sulphide nickel over a 1.2km strike within a 1.2km long massive sulphide target zone defined by high priority electromagnetic (EM) plates.

Assays are pending for drill hole BC20-04, which intersected 15.4m of sulphide vein mineralisation.

“Our latest assays confirm further high-grade mineralisation at Ban Chang,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We continue to demonstrate strong potential for a bulk underground mining scenario at Ban Chang which could be significantly larger scale than the previously mined Ban Phuc massive sulphide underground mine.

“At Ban Phuc, the previous owners successfully mined a 1.3 metre wide MSV at much lower nickel prices than today.

“We are seeing broader widths and significant by-products which could lend to potentially better economics than when this mine previously operated.

“We have now drilled significant massive sulphide nickel mineralisation over 1.2 kilometres of strike at Ban Chang and our in-house geophysics crew continues to test for further massive sulphide mineralisation at the new target, Ta Cuong.

“Ban Chang and Ta Cuong are the first of our 25 MSV targets to be tested throughout the Ta Khoa nickel-copper-PGE district, leaving plenty of upside for adding high-grade feed to what looks like a bulk open pit mining scenario at Ban Phuc and the King Cobra Discovery zone.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Cassini Resources Getting Better Acquainted with Yarawindah Project

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) declared its standalone explorer status by updating the market on recent exploration activities at the company’s Yarawindah Brook project in Western Australia.

Since recently announcing an impending de-coupling with Joint Venture partner OZ Minerals, Cassini is keen to show off the potential of Yarawindah Brook, which is considered prospective for nickel, copper, cobalt and platinum group elements (primarily palladium and platinum).

The project sits in an emerging new nickel-copper-cobalt-PGE province that has been validated by Chalice Gold Mines recent high-grade discovery at the Julimar project, approximately 40km south of Yarawindah Brook.

Cassini has completed two diamond drill holes at the project’s Ovis prospect, one of which, drill hole YAD0010, intersected multiple narrow, massive to semi-massive sulphide zones, returning peak grades of 1.96 per cent nickel and up to 1.81 grams per tonne combined PGE within a 35m-wide disseminated sulphide zone.

Drill hole YAD0011 also returned several narrow mineralised intervals, including 2m at 0.69 per cent nickel and 0.51 per cent copper within a broader sulphide-rich zone, demonstrating down-plunge continuity of the Ovis prospect.

“We’re pleased with the results from our first two drill programs at Yarawindah and we’ve made significant progress in understanding the potential of the region,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“Recent analysis of geophysical data suggests the host intrusion is far larger than originally interpreted and barely explored.

“The recent drill results have shown that we’re in a fertile magmatic nickel-copper environment, and that we’ve barely begun to unlock the potential of our tenement package.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@cassiniresources.com.au

 

Web: www.cassiniresources.com.au

 

De Grey Mining Achieves High-Grade Gold Recoveries at Hemi

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) reported results from initial metallurgical testwork from the company’s Hemi gold deposit, located south of Port Hedland in Western Australia.

De Grey Mining undertook initial metallurgical testwork on mineralisation from the Brolga Zone, which achieved excellent gold recoveries of:

Oxide: 93 per cent based on CIL leach; and
Fresh: 96.3 per cent based on sulphide flotation, oxidation and CIL leach.

The company explained the testwork flowsheet comprised a conventional carbon in leach (CIL) circuit to treat oxide mineralisation.

“The gold recovery achieved in the initial metallurgical testwork of oxide, transition and fresh mineralisation at Brolga is very encouraging,” De Grey Mining managing director Glenn Jardine said in the company’s announcement to the Australian Securities Exchange.

“The testwork significantly de-risks the potential development of Hemi as a Tier 1 gold project in a Tier 1 jurisdiction.

“The testwork flowsheet used for Hemi can also be applied to De Grey’s other regional resources in the Mallina Basin.

“Hemi is a growing resource and contains a combination of oxide, transitional and fresh sulphide mineralisation.

“We will continue to increase our understanding of the scale and metallurgical properties of each of these domains across the deposit with ongoing testwork.

“Hemi’s excellent location, along a major transport, gas and power corridors, all within 60 kilometres of Port Hedland, is a major advantage for a Tier 1 gold resource and development project.”

The flotation circuit generated a gold-rich sulphide concentrate that was oxidised using pressure oxidation (POX) that represented approximately 10 per cent of the ore feed to the flotation circuit.

Oxidised flotation concentrate from the POX circuit was treated by CIL to recover gold.

The company indicated it would assess other methods of oxidation during ongoing test work.

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: admin@degreymining.com.au

 

Web: www.degreymining.com.au

 

Bellevue Gold Raises $100M to Fund Resource Growth and Accelerate Project Development

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THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) announced a fully underwritten institutional placement of new fully paid ordinary shares to raise approximately $100 million.

Bellevue Gold will also undertake a non-underwritten Share Purchase Plan to raise up to $20 million.

The monies raised will complement current cash on hand, and will be used to grow resources and accelerate development of the company’s Bellevue gold project in Western Australia.

“Proceeds from the raising will help ensure we can unlock the full value of what is clearly an exceptional asset with extremely high-grades and immense scope for further inventory growth,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“By implementing our dual exploration and development strategy, we will seek to maximise our ability to create value for shareholders through both resource growth and project development.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: admin@bellevuegold.com.au

 

Web: www.bellevuegold.com.au

 

Black Cat Syndicate Gains Myhree Stage 1 Pit Approval

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) reported on recent activities at the company’s Bulong gold project in Western Australia.

Recent RC drilling undertaken at the Myhree prospect returned numerous zones of shallow, thick, high-grade mineralisation.

Holes were drilled to infill shallow parts of the Resource ahead of potential open pit mining operations.

Results include:

20MYRC043
8 metres at 26.43 grams per tonne gold from 55m

20MYRC030
10m at 5.6g/t gold from 10m

20MYRC032
6m at 7.69g/t gold from 27m

20MYRC042
10m at 4.12g/t gold from 28m

20MYRC040
5m at 8.19g/t gold from 5m

20MYRC044
6m at 6.6g/t gold from 24m

Black Cat has now received all approvals for the Myhree Stage 1 Open Pit, meaning the company now has full approval to commence the first stage of open pit mining at Bulong.

Details on potential mining at Myhree will be incorporated in the Myhree Feasibility Study, due in the September 2020 quarter.

“The continued shallow, high-grade results bode well for early cashflow from potential mining operations at Myhree,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“These results infill the existing Resource and are among the best widths and grades to date.

“This is testament to the robust nature of the Myhree deposit.

“In addition, an important step in our objective to develop Bulong has been achieved with the full approval of the Stage 1 Open Pit at Myhree.

“We also saw some encouragement from an east-west structure at Myhree and 600 metres north of Trump north that requires follow up.

“RC drilling to further test and extend these areas will recommence during August 2020.

“In the meantime, diamond drilling of the deeper Mhyree mineralisation, is currently underway.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Ausgold Extends Jinkas South Lode Mineralisation

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THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) released results from the first six holes it has completed of a 21 hole program of reverse circulation (RC) drilling at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold has utilised down hole electromagnetic (DHEM) and Moving Loop EM (MLEM) to target drilling locations along strike from areas of high-grade gold mineralisation previously intercepted at the project’s Jinkas South and Jinkas areas.

The latest results include:

BSRC0964
5 metres at 13.67 grams per tonne gold from 120m, including 1m at 65.8g/t gold

BSRC0963
39m at 1.32g/t gold from 96m, including 8m at 4.1g/t gold and 1m at 22.2g/t gold

BSRC0965
9m at 2.34g/t gold from 89m, including 5m at 3.95g/t gold
16m at 1.19g/t gold from 126m, including 2m at 4.31g/t gold

BSRC0966
6m at 2.81g/t gold from 78m
5mat 2.93g/t gold from 88m, including 1m at 8.75g/t gold

BSRC0961
1m at 16.8g/t gold from 141m

BSRC0962
6m at 1.41g/t gold from 79m

Ausgold indicated the new drill results have extended the zone of high-grade gold mineralisation to a total strike length of 580 metres north along strike from mineralisation intersected in previous drill programs.

The company said the results validate both the geological model it is using to predict the location of high-grade gold mineralisation and the effectiveness of the geophysics used to directly target this mineralisation.

The results also demonstrate potential for the Jinkas South lode to add substantial high-grade ounces to the existing 1.2 million ounce gold Resource at Katanning.

“We are pleased with the high-grade gold mineralisation intersected within the initial RC drilling results which significantly extend the Jinkas South lode to a strike length of over 580 metres,” Ausgold managing director Matthew Greentree said in the company’s announcement t the Australian Securities Exchange.

“The new drilling has validated the geological model and the initial DHEM targets, providing clear confirmation that the high-grade Jinkas South lode extends over a significant strike length and remains open along strike.

“This zone remains open with drilling underway to test three additional DHEM targets north of the currently identified Jinkas South mineralisation.

“The high-grade Jinkas South gold mineralisation has been now shown to extend north along strike and will add to the current 1.2 million ounce gold Resource at Katanning.

“The new drilling shows high-grade gold mineralisation extends well beyond that estimated in the current resource model.

“This will further expand the open pit Resource 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, Ausgold is extending the coverage of DHEM to target this mineralisation.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Bellevue Gold Declares Maiden Gold Resource

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THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) announced a maiden Indicated Resource for the company’s Bellevue gold project in West Australia.

The total Resources of 2.3 million ounces of gold at 10 grams per tonne gold includes Indicated and Inferred components of:

Indicated
860,000 ounces at 11.6g/t gold; and

Inferred
1.4 million ounces at 9.2g/t gold.

Bellevue Gold has completed a total of 240,000 metres of diamond drilling at the project, infilling selected areas of the previous 80m x 80m drill grid on which the Inferred Resources were based.

Included in the Indicated Resource is a higher-grade core of mineralisation including 480,000 ounces at 15.5g/t gold, hosted in the project’s Viago and Deacon Main Resource areas.

This mineralisation is within a few hundred metres of existing development and contains consistent high-grade high sulphide mineralisation that will be targeted in the early mine life at the project.

Infill drilling is ongoing, with an increase to the Indicated Resource expected in the December quarter, which is intended to convert more of the substantial Inferred Resource adjacent to high-grade core as a priority.

Drilling will also target extensions to current Resources and the recent Government Well discovery which is located seven kilometres from the existing Resource as well as other identified Bellevue analogue outcropping targets to the north.

“This Indicated Resource and the increases to come will underpin the economic studies on the project, which are now well underway,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Completion of these studies will mark the transition to the project development phase, which we believe will demonstrate the technical and economic strengths which come from having a large, high-grade project with simple metallurgy and access to existing infrastructure in a Tier-1 location.

“There is also huge potential to continue growing the overall inventory at Bellevue, where the mineralisation remains open in multiple directions and we have numerous well-established targets, some with known mineralisation.

“We are confident that the combination of economic and technical studies and Resource growth will drive further increases in shareholder value.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@bellevuegold.com.au

 

Web: www.bellevuegold.com.au

 

Auteco Minerals Raises $30M For Pickle Crow Exploration

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THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) has raised approximately $30.4 million via the issue of approximately 225 million new fully paid ordinary shares in the company.

Auteco Minerals announced the funds would be funding ongoing exploration activities at the company’s Pickle Crow gold project, which recently received a maiden JORC 2012-compliant inferred resource of 830,000 ounces at 11.6 grams per tonne gold.

Auteco recently commenced drilling at Pickle Crow, with nine holes already drilled and assays pending analysis.

The placement will enable Auteco drill resource growth with a second diamond drill rig scheduled to arrive in July 2020 to test multiple walk-up targets.

Numerous high-grade targets have been identified for drilling, and Auteco is working towards a resource update that it intends to announce this calendar year.

“The significant support that we have received from the two offshore global resource specialist funds, along with support from our existing shareholders is extremely pleasing, and a significant endorsement of the progress that has been made at Pickle Crow and the enormous opportunity in the project,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s announcement to the Australian Securities Exchange.

“Following our maiden Inferred Resource at Pickle Crow, we are very excited to accelerate our exploration program.

“We have identified numerous high-grade gold targets to test, and expect that we will be able to provide a resource update later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au