Dreadnought Resources Completes Metzke’s Find Drilling

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) has completed its latest round of RC drilling at the company’s Illaara gold-VMS project near Kalgoorlie in Western Australia.

Dreadnought Resources completed six holes at the Metzke’s Find target that has returned visually encouraging intersections.

The company reported the drilling had intersected the targeted lode horizon which consists of sugary recrystalised quartz sulphide veining with a zone of intensely sheared and chlorite, sericite and biotite altered mafic metavolcanics.

Assays are expected during July 2020.

“Dreadnought is pleased to have completed follow up drilling at the historic high-grade Metzke’s Find on time and on budget,” Dreadnought Resources managing director Dean Tuck said in the company’s announcement to the Australian Securities Exchange.

“The visual results are encouraging, and we look forward to announcing the assay results during July 2020.

“In the meantime, Dreadnought is gearing up for a return to Rocky Dam by mid-July to follow up on the recently drilled thick near surface gold intercepts.”

 

Email: info@dreadnoughtresources.com.au

Web: www.dreadnoughtresources.com.au

 

Meteoric Resources Commences Work at WA Acquisition

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) is poised to commence its 2020 field season at the Palm Springs gold project. located near Halls Creek in the Kimberley of Western Australia.

Meteoric Resources explained that, pending the imminent completion of the acquisition of the Palm Springs project, the company has already mobilised to site in preparation of an initial exploration and drilling program, which is expected to commence in Q3.

This initial program will include:

RC and Diamond Drilling Program to explore for extensions of the Butchers Creek Orebody where historic drilling encountered encouraging gold intercepts below the base of the open pit;
Evaluation of Regional Structural targets focussing in on the ‘Host Unit’, a trachyte host rock that concentrates gold mineralisation, following which the company will build a 3D model across the licences; and
Baseline geophysical studies to identify and target non‐outcropping host unit and sulphide alteration.

“We are delighted to have been in a position to move swiftly to enter into an agreement to secure an Australian asset in the Palm Springs project and we already have boots on the ground (within a week of announcing its acquisition) thus officially kicking‐off our 2020 field season in the Kimberley,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The Palm Springs project has significant upside potential for shear hosted high grade mineralisation, as demonstrated by the historical drill intercepts.

“Our plan is to heed the advice of numerous geologists previously working at the project by engaging structural experts to commence a detailed exploration program to gain an understanding of the structural setting and its controls on mineralisation.

“Following this we will compile a 3D model and get busy drill testing these high‐grade gold targets.”

While mobilising down under, Meteoric is also running a drilling program in Brazil at its wholly-owned Juruena project.

“At Juruena in Brazil we have successfully executed our back to work strategy and we are already on hole two of our Resource expansion program targeting the Dona Maria and Crentes prospects,” Tunks continued.

“We have commenced work at the very high‐grade Dona Maria project where we are looking to convert inferred resources to indicated and extend the resource down plunge.

“After Dona Maria we will move onto a potential company maker where we look for the source of the high‐grade mineralisation, namely the gold copper porphyry system which we believe is driving the entire Juruena mineralised system.”

 

Web: www.meteoric.com.au

 

 

Genesis Minerals to Acquire the Kookynie Gold Project

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THE BOURSE WHISPERER: Genesis Minerals Limited (ASX: GMD) has entered into a binding agreement to acquire 100 per cent of the Kookynie gold project, located immediately south-east of the company’s 100 per cent-owned Ulysses gold project in Western Australia.

Genesis Minerals will part with $13.5 million to pick up the project, comprising a $3 million upfront cash and share payment with the full balance of $10.5 million due in six months, plus a one per cent net smelter royalty (NSR) capped at $5 million.

The tenement package includes a JORC 2012 Indicated and Inferred Mineral Resource of 8.53 million tonnes at 1.5 grams per tonne gold for 414,000 ounces.

This will take the total Mineral Resource of the Greater Ulysses project to 17 million tonnes at 2.34g/t gold for 1.28 million ounces, providing a strong foundation for the next stage of Genesis’ development as a future mid-tier Australian gold company.

“This is an acquisition which ticks every box for us from a strategic, corporate, geological and tactical perspective,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“It provides the springboard for a significant re-boot of the Genesis story and puts us on a firm growth trajectory towards the establishment of a significant new standalone gold mining and processing operation at Ulysses.

“The acquisition consists of two distinct parts.

“The northern tenement package represents the immediate south-eastern extension of the Ulysses project, consolidating our ownership of this highly prospective gold corridor.

“It gives us an immediate opportunity to in-fill and extend the current Resources at the Admiral, Butterfly and Clark deposits – drawing on the geological IP we have developed on our neighbouring ground at Ulysses.

“We see enormous potential to extend the existing Resources down-dip, to find new high-grade lodes just as we did at Ulysses, and to make potential new discoveries and find parallel structures along strike.

“The package being acquired also offers vast regional exploration upside, including along the under-explored southern tenement package, providing us with a pipeline of both near-mine and regional exploration targets.”

Genesis Minerals indicated that for the remainder of CY2020, the company will be focusing on a combination of resource definition and expansion drilling to feed into a Feasibility Study on the development of a standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources.

Genesis is targeting completion of this Feasibility Study in the first quarter of CY2021.

 

 

Web: www.genesisminerals.com.au

 

RareX Boosts Company Coffers by Completing $2.3 Million Raising

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THE BOURSE WHISPERER: RareX Limited (ASX: REE) has raised $2.3 million on the back of firm commitments from institutional and professional investor support for a share placement.

RareX will issue 46 million shares at 5 cents per share, with company directors chipping in to the tune of collectively subscribing for $200,000 worth of shares.

The shares to be issued to the Directors will be subject to shareholder approval at a meeting to be convened in due course.

RareX indicated the proceeds will further strengthen its balance sheet, placing it in an excellent position to progress the upcoming maiden drilling program at the company’s 100 per cent-owned Cummins Range rare earths project in the Kimberley region of Western Australia.

An upcoming drill program is to be the first drill program carried out at Cummins Range in almost a decade with the last drilling completed by previous ownership in 2011.

Elsewhere, RareX has exposure to an exciting ongoing exploration campaign via its 35 per cent free-carried interest in the Trundle copper-gold porphyry project in New South Wales, alongside Kincora Copper (65%).

The company also has 100 per cent interest in a highly prospective gold project near Orange in NSW known as Orange East, which is located within close proximity to the large McPhillamys gold mine owned by Regis Resources Limited.

Following completion of the Placement, RareX will hold cash and listed investments totalling $6.1 million, including its 9.65 per cent stake in TSX.V-listed Kincora Copper.

“We are delighted with the strong support received from investors as part of this capital raise, which reflects the quality of our assets and the exciting outlook for the company,” RareX chairman John Young said in the company’s announcement to the Australian Securities Exchange.

“RareX shareholders will have exposure to two quite different, but equally exciting, exploration campaigns over the coming weeks and months.

“Drilling is on track to commence next month at Cummins Range targeting extensions of our high-quality existing Resource as well as new satellite discoveries.

“Meanwhile, we are in the midst of a potentially game-changing drill program at the Trundle project in New South Wales, where the Kincora team have intersected significant porphyry mineralisation in the first two diamond drill holes.

“The third hole is in progress and we are eagerly awaiting further results, and assays, from this maiden drill program.”

 

 

Breaker Resources Drills Potential Depth Growth at Bombora

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THE DRILL SERGEANT: Breaker Resources (ASX: BRB) claimed discovery of several new high-grade lodes from deeper drilling undertaken below the one-million-ounce open pit Resource at the Bombora deposit within the company’s Lake Roe project near Kalgoorlie in Western Australia.

Breaker Resources declared results received from four reconnaissance diamond drill holes completed below the northern part of Bombora on a 300m spacing highlighted potential to expand the existing Resource at depth.

With the objective to scope out the potential for future underground mining below the open pit Resource ahead of targeted resource definition drilling, all four drill holes encountered gold mineralisation with visible gold present in several intersections.

This included the deepest Breaker has reported to date at Bombora in two new steep lodes situated approximately 600 metres below surface.

Highlighted results include:

BBDD0096W2
4.6 metres at 12.5 grams per tonne gold, including 1.3m at 42.7g/t gold within a broader zone of 19.6m at 3.13g/t gold (a new steep lode with visible gold);

2.47m at 12.1g/t gold, including 1.37m at 20g/t gold within a broader zone of 5.7m at 5.56g/t gold (a new steep lode with visible gold); and

2.65m at 10.6g/t gold, including 0.4m at 67.3g/t gold (new flat lode).

BBDD0093W3
6.85m at 4.8g/t gold, including 1.4m at 10.9g/t gold (new flat lode).

The company said the results have extended the strike length of the high-grade gold lodes below the open pit Resource by 600m to the north.

Together with results reported from previous reconnaissance drilling at depth, increasing the overall strike length of known high-grade gold lodes below the open pit Resource to two kilometres.

“The new drilling has confirmed a two-kilometre strike length of high-grade gold mineralisation situated directly below an extensively de-risked open pit Resource, 80 per cent of which is in the Indicated category,” Breaker Resources executive chairman Tom Sanders said in the company’s announcement to the Australian Securities Exchange.

“The results highlight strong potential for a significant increase in the Resource at grades typically amenable to underground mining.

“It’s also important to note that the high-grade lodes we are seeing at depth at Bombora are similar to the high-grade lodes present in the open pit Resource.

“In fact, in some cases, they are extensions of the same lodes but without a low grade halo that is typically applied in an open pit setting.

“We are now projecting the high-grade lodes over large distances at depth, and we either are hitting them with our reconnaissance drill holes, or discovering new lodes in the process, or both.

“Based on the recent drilling, some of the individual flat lode systems are in excess of one-kilometre-long, which matches the dimension of some of the west-dipping lodes in the shallow portions of the deposit.

“We believe that the continuity we see in the shallow portions of the deposit is likely to translate into a viable future underground mining scenario.”

 

Email: breaker@breakerresources.com.au

 

Web: www.breakerresources.com.au

 

Centaurus Metals Hits Thick Nickel Sulphide at Jaguar Central and North

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THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) recently completed diamond drilling at the Jaguar Central and Jaguar North deposits, part of the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of Brazil.

Centaurus Metals reported the drilling had returned “outstanding” broad high-grade nickel sulphide intercepts from shallow depths.

Results from first two drill holes at Jaguar Central returned consistent thick and shallow high-grade nickel sulphide intersections, including:

JAG-DD-20-042
40.5m at 1.35 per cent nickel, 0.09 per cent copper and 0.03 per cent cobalt from 20m, including 12m at 1.95 per cent nickel, 0.15 per cent copper and 0.04 per cent cobalt from 38.5m

JAG-DD-20-047
2m at 4.57 per cent nickel, 0.11 per cent copper and 0.1 per cent cobalt from 41m and 67.3m at 1.2 per cent nickel, 0.08 per cent copper and 0.03 per cent cobalt from 67m, including 19m at 1.7 per cent nickel, 0.13 per cent copper and 0.04 per cent cobalt from 79.8m

The first three drill holes at Jaguar North also returned consistent thick and shallow high-grade nickel sulphide intersections, including:

JAG-DD-20-046
26.8m at 1.21 per cent nickel, 0.13 per cent copper and 0.04 per cent cobalt from 84.3m, including 10.8m at 2.1 per cent nickel, 0.15 per cent copper and 0.06 per cent cobalt from 84.3m

JAG-DD-20-048
12m at 1.81 per cent nickel, 0.44 per cent copper and 0.08 per cent cobalt from 79m, including 4.5m at 3.66 per cent nickel, 0.63 per cent copper and 0.17 per cent cobalt from 86.5m

JAG-DD-20-050
28.5m at 1.44 per cent nickel, 0.13 per cent copper and 0.05 per cent cobalt from 29.1m, including 3.6m at 3.55 per cent nickel, 0.49 per cent copper and 0.16 per cent cobalt from 50.7m

“It’s quite rare to see such consistent grades and widths across so many shallow deposits which would be amenable to extraction via open pit mining, before possibly moving underground in the future,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“These important attributes put Jaguar in a league of its own as a nickel sulphide development proposition and reinforce why we see it as a company-making project.

“Importantly, these results also show that our targeting method has been very successful in allowing us to infill and often extend the high-grade zones delineated in previous wide-spaced drilling by Vale.

“This targeting method has proven to be successful at Jaguar South, Onça Preta and Onça Rosa and now we are having the same success at Jaguar Central and Jaguar North.

“The shallow zones of mineralisation delineated by this drilling and the historical Vale holes into Jaguar Central and Jaguar North will be incorporated in the upcoming maiden Mineral Resource estimate.

“In the meantime, we will continue to evaluate the deeper potential – which we think is just as exciting.

“Down-hole geophysics on the new drill holes has consistently identified strong conductor plates below the deepest drilling, indicating significant potential for more semi-massive to massive sulphides at depth.

“This potential will be systematically tested in the months ahead.

“With all of the drilling required to deliver our maiden Mineral Resource now complete, two rigs are continuing to operate at Jaguar Central and Jaguar North to test down-dip extensions of the deposits.

“Additionally, a regional field team has commenced mapping, soil sampling and FLEM survey work to generate a pipeline of new regional targets on the western portion of the land package which we will be aiming to start drilling in the next two to three months.”

 

Email: office@centaurus.com.au

Web: www.centaurus.com.au

 

Blackstone Minerals Encounters Wide Zone of Ban Chang Sulphide

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) reported the intersection of massive sulphide from drilling at the company’s Ta Khoa nickel-PGE project in Vietnam.

Blackstone Minerals encountered massive sulphide in three maiden drill holes at the Ban Chang target that were drilled more than one kilometre apart and along strike within a 1.2km-long massive sulphide target zone that had been defined by high priority EM plates.

Of these, drillhole BC20-03 intersected a zone of 9.15m wide veins of sulphide mineralisation including 4.6m of massive sulphide (MSV) and semi massive sulphide veins (SMSV) with the broader intersection comprising:

1 metre disseminated sulphide (DSS) and sulphide veinlets from 57.05m
0.35m sulphide veinlets from 58.05m
0.3m MSV from 58.40m
2.30m DSS, 10 to 12 per cent sulphides from 58.7m
2.35m SMSV from 61m
1.85m MSV from 63.35m
0.4m sulphide veinlets from 65.2m
0.1m MSV from 65.6m
0.5m DSS and sulphide veinlets from 65.7m.

“We’re pleased to announce a significant intersection of a 9.15 metres wide zone of nickel sulphide vein mineralisation at Ban Chang which could have the scale and geometry to be mined as a bulk underground mining scenario,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We’ll continue to explore Ban Chang’s potential to become a supplementary high-grade feed source to the main Ban Phuc disseminated sulphide orebody, with further holes planned for drilling in this area.”

Blackstone also has a second drill rig in operation, following its in-house geophysics crew throughout the Ta Khoa district, testing high-priority EM targets generated from 25 MSV prospects including King Snake, Ban Khoa, Ban Chang, and Ban Khang.

Blackstone is targeting MSV prospects analogous to the Ban Phuc MSV, where previous owners mined 975,000 tonnes of high-grade ore at average grades of 2.4 per cent nickel and 1 per cent copper from an average vein width of 1.3m, producing 20,700 tonnes nickel, 10100 tonnes copper and 670 tonnes cobalt.

The company’s Scoping Study on downstream processing to produce nickel sulphate for the lithium-ion battery industry and a Ban Phuc maiden resource are on track for completion in Q3, 2020.

 

Email: admin@blackstoneminerals.com.au

Web: www.blackstoneminerals.com.au

 

Breaker Resources Hits Gold Beyond Bombora

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THE DRILL SERGEANT: Breaker Resources (ASX: BRB) reported drilling results from the company’s 100 per cent-owned Lake Roe project, located east of Kalgoorlie in Western Australia.

Breaker Resources declared the recent drilling at Lake Roe had highlighted the gold discovery potential of the Kopai prospect, situated three kilometres north of the one-million-ounce Bombora gold deposit.

The company released results from the first 32 reverse circulation (RC) drill holes (BBRC1354-1385) of a 60- hole program targeting the 2km-long Kopai-Crescent area that is at the northern end of a recently expanded 9.5km-long aircore gold anomaly centred on the Bombora deposit.

Preliminary results from the first 32 holes include:

BBRC1373
4 metres at 4.54 grams per tonne gold from 84m within 9m at 2.9g/t gold to EOH in (ending in mineralisation);

BBRC1358
4m at 2.68g/t gold from 20m within 8m at 1.68g/t gold; and

BBRC1365
4m at 2.53g/t gold from 20m within 8m at 1.63g/t gold.

Breaker is awaiting results for the remaining 28 RC drill holes that targeted a potential link between Kopai and the Crescent prospect, which is situated 1km to the south and hosts a 350m-long zone of continuous shallow gold mineralisation that is not in the Bombora Resource.

“The strong results at the Kopai prospect reinforce Breaker’s belief that Lake Roe is a significant new gold camp, centred on the one-million-ounce Bombora deposit, which itself continues to expand at depth,” Breaker Resources said in its ASX announcement.

“The results also continue to repeat the pattern of low-level oxide gold, and pathfinder anomalism, providing a reliable vector to primary mineralisation – a pattern seen at Bombora, Crescent, Claypan, and now Kopai.”

 

Email: breaker@breakerresources.com.au

Web: www.breakerresources.com.au

 

Bellevue Gold Scores Regional High-Grade Gold Hit

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THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) reported a sizeable high-grade gold hit achieved more than seven kilometres from the company’s Bellevue gold project in Western Australia.

Bellevue Gold completed a four-hole reverse circulation drill program at the Government Well prospect, which although being 7.4 kilometres away is part of the Bellevue gold project.

Government Well is the first target Bellevue has tested within 20km of the under-explored regional Bellevue Trend.

The target was previously rock chipped by Bellevue Gold returning results up to 32 grams per tonne gold from outcropping veins as well as a Sub Audio Magnetic (SAM) survey completed at the prospect in 2019.

The company’s first pass program drilling has focussed on the central 500m of the Government Well prospect, which has been defined over 1.2km by field mapping, following up on previous shallow drilling that had intersected two zones of quartz veining.

The recent drilling encountered two high-grade gold intervals of:

DRRC214
3 metres at 9.7 grams per tonne gold from 19m; and 3m at 11.6g/t gold from 33m within an overall interval of 17m @ 4.2 g/t gold.

Drill hole DRRC217 was collared 180m to the south of DRRC214 and about 20m down dip of the historical drilling and results are still pending for this drillhole.

Bellevue noted DRRC217 intersected pyrite quartz veining with visible gold observed in chips over 1m from 54m.

Follow up diamond drilling is planned at the prospect to determine whether the shallow pyrite is reflective of retrograde pyrhotite mineralisation suitable for targeting with DHEM as is the case at Bellevue or whether it reflects a new mineralisation style at the project.

“This result supports our view that there is huge scope to grow the inventory at Bellevue,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The Bellevue Gold Mine sits within a 20 kilometres-long mineralised corridor which has been subjected to very limited exploration.

“The drilling at Government Well represents our first foray away from the mine area and given the strength of this result, we will conduct follow-up drilling at the first opportunity.”

In concert with the exploration drilling, Bellevue Gold is finalising its upcoming maiden Indicated Resource at Bellevue, where the Inferred Resource currently stands at 2.2 million ounces at 11.3g/t gold, and has initiated economic studies on the project.

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Musgrave Minerals Encounters Big Gold Hit at Starlight

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) could hardly contain its own excitement levels when announcing recent drilling results from the company’s 100 per cent-owned ground at its Cue gold project in Western Australia’s Murchison district.

Musgrave Minerals reported assay results for a further seven reverse circulation (RC) drill holes from drilling currently underway at the new Starlight gold discovery at the Break of Day deposit.

The current drilling is focused on infilling and extending the new high-grade Starlight lode where Musgrave has previously intersected mineralisation over a strike of more than 115 metres that remains open down dip and along strike.

Assays received from new RC drilling at Starlight include:

20MORC037
42 metres at 77.3g/t gold from 30m, including 18m at 179.4g/t gold from 30m, including 6m at 498.2g/t gold from 36m;

20MORC031
61m at 12.7g/t gold from 76m, including 6m at 44.6g/t gold from 76m and 21m at 23.6g/t gold from 106m;

20MORC036
22m at 21g/t gold from 2m, including 9m at 49.2g/t gold from 8m;

20MORC029
9m at 16.5g/t gold from 225m, including 3m at 47.6g/t gold from 225m;

20MORC038
4m at 48.2g/t gold from 85m; and

20MORC028
2m at 37.7g/t gold from 74m.

The intersections in all drill holes sit outside, but in close proximity to the current resource at Break of Day.

“These are amazing gold grades to see in near surface drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Our deepest holes to date are still in high-grade mineralisation at 200 vertical metres where Starlight remains open down dip.

“The bonanza grades near surface will have a significant positive impact on future development at Break of Day.”

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au