Alto Metals Continues High-Grade Results From Lord Nelson

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THE DRILL SERGEANT: Alto Metals (ASX: AME) reported final one-metre re-split assay results from RC drilling recently carried out at the company’s Sandstone gold project in Western Australia.

Alto Metals conducted the drilling, targeting southern extensions of the Lord Nelson deposit and untested areas beneath the open pit.

Assays from drill holes targeting primary gold mineralisation in previously untested areas below the Lord Nelson open pit demonstrated to be in line with previously released four-metre composite results, confirming continuity of wide zones of high-grade gold mineralisation at depth below the open pit.

One-metre re-split fire assay results for the deeper RC drill holes beneath the Lord Nelson open pit include:

SRC175
17 metres at 3.5 grams per tonne gold from 200m, including 4m at 11.6g/t gold from 211m and 1m at 25.5g/t gold from 214m;

SRC176
16m at 5.2g/t gold from 240m, including 3m at 13.5g/t gold from 240m; and

SRC178
5m at 3.1g/t gold from 232m.

We are impressed with the width and grade of these latest assay results from Lord Nelson, particularly as they are from a previously untested primary zone beneath the historical pit,” Alto Metals non-executive director Matthew Bowles said in the company’s announcement to the Australian Securities Exchange.

“These results confirm the continuity of high-grade mineralisation down plunge from the current defined resource, and have very high-grade in the deepest hole Alto has yet drilled at Lord Nelson, in hole SRC176.”

Alto’s current JORC 2012-compliant Inferred Mineral Resource estimate at Lord Nelson is 980,000 tonnes at 2.2 grams per tonne gold for 68,000 ounces.

This forms part of the company’s total Indicated and Inferred Mineral Resource Estimate for the Sandstone project of 5.4 million tonnes at 1.7g/t gold for 290,000 ounces.

 

Email: admin@altometals.com.au

Web: www.altometals.com.au

 

Middle Island Resources Defines Second New Sandstone Gold Deposit

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) reported further results from a recently completed reverse circulation (RC) drilling program at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources carried out the Phase 1 RC program as one of four planned programs that collectively comprise a total 17,300 metres exploration and resource definition drilling campaign.

The drilling has identified a new gold deposit – the McIntyre prospect, within the Sandstone project.

The McIntyre prospect was defined by new, consistent, shallow drill intercepts including:

24 metres at 1.66 grams per tonne gold;
23m at 1.4g/t gold;
11m at 1.39g/t gold; and
18m at 1.35g/t gold.

The company believes there to be a high likelihood that the McIntyre prospect will further complement the project’s mill recommissioning inventory.

McIntyre is one of a cluster of three proximal gold prospects, which include the recently-reported McClaren prospect where substantial intercepts of 4m at 90.6g/t gold and 8m at 3.35g/t gold were achieved.

McIntyre, McClaren and the Ridge gold prospects are hosted within the southeast extension of the Shillington banded iron formation (BIF) package, located on a granted Mining Lease, 2.5km from the 100 per cent-owned Sandstone gold processing plant.

“The broad, consistent gold intercepts returned from Phase 1 RC drilling at the McIntyre prospect provide further exciting encouragement that the prospect may well prove to represent a second new, low strip ratio, 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.

“This follows close on the heels of significant intercepts of 4m at 90.6 grams per tonne gold and 8m at 3.35 grams per tonne gold from the adjacent McClaren prospect as announced last week.

“Recently completed geological mapping of the proximal McIntyre, McClaren and Ridge prospects, all of which are hosted in the Shillington BIF package, reveal a structural link between the McIntyre and McClaren prospects that offers opportunities for resource extensions to both.

“The McIntyre and McClaren prospects lie within granted Mining Lease M57/129 and only 2.5km from the company’s 100 per cent-owned, 600,000 tonnes per annum gold processing plant.

“The Directors look forward to sharing further Phase 1 RC drilling results with you as they are received and compiled.

“At this stage, the results of this program, coupled with the resources announced last week and the prevailing gold price, significantly heighten the prospect of a positive mill recommissioning decision.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Musgrave Minerals Resample Assays Confirm Starlight High-Grades

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported results from resampling of drilling at the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals declared the one metre resampling has confirmed recent high-grade gold assay results the company achieved from reverse circulation (RC) drilling at its 100 per cent-owned Starlight Link-Lode and the Twilight Lode at the Break of Day deposit.

Intercepts returned from new one metre individual samples at Starlight include:

20MORC001
4 metres at 10.3 grams per tonne gold from 225m;

20MORC012
1m at 6.6g/t gold from 127m;

20MORC013
1m at 9.8g/t gold from 181m;

20MORC015
55m at 2.8g/t gold from 97m, including 1m at 61.4g/t gold from 97m and 8m at 9.2g/t gold from 127m and 5m at 3.8g/t gold from 147m;

20MORC019
2m at 5.4g/t gold from 138m to EOH, including 1m at 7.5g/t gold from 139m to EOH;

Drilling also extended the Twilight lode a further 100m south of the existing Break of Day resource with intercepts including:

20MORC001
3m at 118.4g/t gold from 72m, including 1m at 351.2g/t gold from 73m;

20MORC003
1m at 6.3g/t gold from 182m; and

20MORC004
17m at 3.7g/t gold from 19m, including 9m at 5.1g/t gold from 21m.

These results confirm the multiple high-grade gold lodes at Starlight and in many cases improve the grades from the composite sampling,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Any upside resource growth at Starlight has the potential to significantly impact the future development economics of the Cue gold project.”

The company noted that all the intersections returned from Starlight sit outside the current resource at Break of Day, as do the holes drilled at Twilight, which intersected the southern extension of the Twilight lode.

Musgrave Minerals has a further program of follow-up RC drilling at Starlight scheduled to commence in early May 2020.

This will be completed together with a diamond drilling program ahead of a resource update in late Q3 2020.

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

RareX JV Partner to Commence Drilling Lachlan Ford Belt Targets

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THE DRILL SERGEANT: RareX Limited (ASX: REE) announced commencement of drilling by its Joint Venture partner TSXV-listed Kincora Copper Limited on copper gold projects in the Lachlan Fold Belt of New South Wales.

RareX recently sold a 65 per cent interest in the NSW copper gold assets to Kincora Copper, after which it retains a 35 per cent free carried interest while owning 9.9 per cent of Kincora Copper’s listed equity.

Recent work by Kincora Copper has highlighted potential of the package and in particular the Trundle project that is located near the Northparkes copper gold mine (5.5Moz gold and 4.5Mt copper) owned by Sumitomo (20%) and China Molybdenum Co Limited (80%).

Kincora Copper is to commence a fully-funded drill program comprising six deep holes on the Trundle project, which is the only brownfield porphyry project in the Lachlan Fold held by a listed junior.

Two drill holes will be drilled at each of three identified mineralised prospects, Trundle Park, Mordialloc, and Baileys, with follow up drilling planned.

“We are extremely excited by the funded drilling program and targets that have been generated by Kincora as part of the JV,” RareX executive director Jeremy Robinson said in the company’s announcement to the Australian Securities Exchange.

“Kincora’s team have made multiple world-class discoveries, including Cadia in this belt, and at Trundle are testing three known mineralised targets that are the only in a brownfield environment held by a junior in the prolific Lachlan Fold Belt.

“We look forward to multiple catalysts and significant news flow over the coming months with RareX remaining highly exposed to any new discoveries made, which is the ambition of this program, while preserving cash in a market that is significantly rewarding exploration success in the Lachlan Fold Belt.”

 

Email: info@rarex.com.au

Web: www.rarex.com.au

 

Twenty-Seven Co Verifies Large Mineralised Gold System at Creasy 1

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THE DRILL SERGEANT: TSC Limited (ASX: TSC) happily reported results for recent drilling undertaken at the Creasy 1 prospect, within the company’s Rover project in Western Australia.

TSC declared the assays, including up to 3 metres at 2.8 grams per tonne gold, have confirmed the discovery of a large, shallow mineralised gold system at the Creasy 1 prospect.

The company’s confidence came by combining its March 2020 RC drilling campaign, which comprised 20 drill-holes for 1,752m in total across the Creasy 1 and Harmonic5 prospects, and the high-grade shallow economic intercepts achieved from its December 2019 drilling.

De Grey said the latest results reinforced the gold potential at Rover.

Results from the March campaign include:

20RVRC031
3 metres at 1.2 grams per tonne gold from 80m;

20RVRC033
3m at 2.3g/t gold from 71m;

20RVRC035
3m at 2.8g/t gold from 56m;

20RVRC037
3m at 1.9g/t gold from 104m; and

20RVRC037
3m at 0.8g/t gold from 134m.

“At a time when the Australian dollar gold price is at an all-time high, encouragingly, the more we drill at Rover the more gold we find!” Twenty-Seven Company CEO Ian Warland exclaimed in the company’s announcement to the Australian Securities Exchange.

“The standout prize has been finding shallow high-grade gold shoots, verifying that we have discovered an extensive gold mineralised system.

“Factoring in outcropping gold mineralisation 300 metres north at Harmonic, there is still significant further exploratory work ahead across the two prospects which will better enable us to understand the overall gold potential at Rover.

“Recent work has also confirmed the VMS prospectivity of the project, so we are excited to shortly begin work on eight well-defined MLTEM bedrock conductors along the Maynard Hill greenstone belt to test for VMS-style mineralisation.”

 

Email: enquiries@twentysevenco.com.au

Web: www.twentysevenco.com.au

 

De Grey Mining Defines Third Gold Zone at Hemi Discovery

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THE DRILL SERGEANT: De Grey Mining has defined a third gold zone within the Hemi gold discovery at the company’s Pilbara gold project in Western Australia.

Recent drilling undertaken by De Grey Mining has defined the new Crow zone, a NE trending gold in bedrock anomaly one kilometre long and 300 metres wide, north of and parallel to the Aquila and Brolga zones within the Hemi discovery area.

The company had previously confirmed the Aquila and Brolga zones to host strong gold-sulphide mineralisation with deeper RC and diamond drilling.

Additional aircore drilling, mostly to the north of Aquila, returned further encouraging gold results at the new Crow Zone, highlighted by the maximum bedrock gold value in each aircore hole.

De Grey claims the scale of the Crow Zone as being similar to the Brolga and Aquila zones with aircore drilling extending the known extents of the northern intrusion.

To date, De Grey has completed six RC holes (HERC043-HERC048), testing from Aquila and across a portion of the Crow anomaly.

Results for HERC043 have been received, demonstrating encouraging bedrock gold mineralisation in a broad interval that finished in mineralisation.

HERC043
+72 metres at 0.3 grams per tonne gold from 42m, including 4m at 0.7g/t gold from 42m, 4m at 1.2g/t gold from 70m, 4m at 0.5g/t gold from 80m, and 6m at 0.8g/t gold from 106m.

“Crow is an exciting new large and untested gold anomaly, which has the dimensions and a similar order of magnitude of aircore gold results as initially seen at Brolga,” De Grey Mining exploration manager Phil Tornatora said in the company’s announcement to the Australian Securities Exchange.

“Like Brolga, the aircore drilling has only tested the shallow weathered portion of the bedrock.

“The first RC drill section comprising six holes has been completed, encountering variable sulphide mineralisation in each hole.

“HERC043 has returned encouraging gold mineralisation.

“We expect results of the next five holes to be available towards the end of April.”

 

Email: admin@degreymining.com.au

Web: www.degreymining.com.au

 

Corazon Mining Moves to 100% Ownership of Lynn Lake Area

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has acquired 100 per cent of the Lynn Lake nickel copper cobalt sulphide project area in Canada, having exercised an option to do so.

Corazon Mining had already consolidated the entire Lynn Lake nickel-sulphide mining centre, historically one of Canada’s largest nickel producing operations, under its sole ownership, which includes ground 100 per cent owned by Corazon following its acquisition of the Victory nickel-copper project, and the Dunlop project area, where Corazon has the rights to acquire 100 per cent ownership.

Corazon has now satisfied its obligations for settlement to exercise its option to acquire the Dunlop project area, which covers a large portion of the wider Lynn Lake Project.

Corazon considers the Dunlop project area to represent a critical component of the wider Lynn Lake project that covers the high-grade EL Mine and the Fraser Lake Complex (FLC) intrusion, located five kilometres south of the Lynn Lake mining centre and currently the subject of a targeted drilling program.

“Boasting large JORC compliant resources and beneficial infrastructure, Lynn Lake presents Corazon with a major development opportunity – one which is becoming increasingly prospective as a result of recent increases in the value of both nickel and cobalt metals,” Corazon Mining said in its ASX announcement.

“Both metals are forecast to have strong demand outlooks associated with their core use in the emerging global electric vehicle (EV) industry.”

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Neometals Increases Armstrong Mineral Resource

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THE DRILL SERGEANT: Neometals (ASX: NMT) released an updated nickel Mineral Resource for the Armstrong deposit, part of the company’s Mt Edwards project in Western Australia.

Neometals acquired the Mt Edwards project, which is located in a province of historic nickel sulphide mines, in the first half of 2018 and immediately began exploring for nickel and lithium.

The company completed a program of Reverse Circulation (RC) at Armstrong in December 2019, results from which were combined with historical drilling and assay data for an outcome of a reinterpreted Mineral Resource at Armstrong that has increased by 60 per cent to 630,000 tonnes at 2.1 per cent nickel for 13,200 tonnes of contained nickel between 80 and 300 metres below surface.

Neometals indicated future work at Armstrong will include diamond core drilling and sampling to provide understanding of mineralogy and metallurgical characteristics, and RC drilling to increase confidence sufficient to upgrade the Mineral Resource classification and pave the way for advanced mining studies.

“The exploration and development success which has led to the updated Mineral Resource estimate at Armstrong, complements the company’s growth strategy of increasing the mineral inventory across Mt Edwards while seeking new nickel discoveries,” Neometals said in its ASX announcement.

“Neometals is targeting distinct high-grade zones and new discoveries across its large land holding at Mt Edwards, which is located in a well-recognised nickel mining province.”

 

Email: info@neometals.com.au

Web: www.neometals.com.au

 

Cassini Resources Confirms Yarawindah Project to be Part of Emerging Nickel-Copper-PGE Province

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) completed its first diamond drilling campaign at the company’s Yarawindah Brook project near the township of New Norcia, northeast of Perth, Western Australia.

Cassini Resources reported that the drilling, consisting nine diamond holes, returned further nickel and copper results for the project.

The company considers the project prospective for nickel, copper, cobalt and platinum group elements (PGEs) – namely palladium and platinum.

From the drilling, Cassini has identified a third nickel-copper-PGE sulphide prospect it has named the Ovis prospect.

Three holes were completed at Ovis targeting electromagnetic conductors, all of which intersected nickel-copper sulphide mineralisation at shallow depths.

Best results include:

YAD0008
2.25 metres at 1.09 per cent nickel, 0.99 per cent copper, 0.08 per cent cobalt and 0.24 grams per tonne PGE from 84.8m; and

YAD0009
0.9m at 1.44 per cent nickel, 0.76 per cent copper, 0.11 per cent cobalt and 0.19g/t PGE from 86.5m.

“Mineralisation is hosted in metagabbro and metapyroxenite intrusive sequences, consistent with the exploration model targeting mafic-hosted, orthomagmatic massive sulphides,” Cassini Resources said in its ASX announcement.

“The mineralised portion of the host sequence is over 50 metres thick and anomalous in nickel-copper throughout, which is important as massive nickel sulphide accumulations are generally associated with large volumes of sulphide-bearing magma.

“The host sequence in YAD0008 returned an intercept of 50 metres at 0.24 per cent nickel and 0.18 per cent copper (and terminated in mineralised metagabbro) demonstrating the potential scale and prospectivity of the mineralised intrusive.

“Mineralisation remains open along strike and down plunge to the north.

“Follow-up targeting work will integrate results from the geological interpretation and modelling, soil geochemistry and down-hole and surface EM surveys data.”

 

Email: admin@cassiniresources.com.au

Web: www.cassiniresources.com.au

 

Blackstone Minerals Acquires Ta Khoa Nickel-PGE Project

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) announced it has exercised an option to acquire a 90 per cent interest in the Ta Khoa nickel-PGE project in northern Vietnam.

Blackstone Minerals executed the binding option agreement to purchase AMR Nickel Limited’s 90 per cent interest in the project and will subsequently issue 8.6 million shares to Ta Khoa Mining Limited as per the terms of a binding term sheet agreement of $1 million of BSX shares.

Exercising the option to acquire a 90 per cent interest in the Ta Khoa project means Blackstone has now completed a condition of the recently announced binding share purchase agreement with EcoPro.

“We are pleased to announce the acquisition of the Ta Khoa nickel-PGE project and welcome Steve Ennor and all of the team in Vietnam to the Blackstone group, we now look forward to the future of the Ta Khoa nickel-PGE project with our new partner EcoPro,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

Blackstone indicated it now aims to deliver a maiden resource in Q3, focused initially on the disseminated sulphide (DSS) at Ban Phuc as it continues to investigate the potential to restart the existing Ban Phuc concentrator through focused exploration on both massive sulphide veins (MSV) and DSS deposits.

Blackstone has commenced a scoping study on the downstream processing facility at Ta Khoa that is anticipated to be announced in Q3, providing details for Joint Venture partners to formalise the next stage of investment.

Blackstone Minerals has commenced metallurgical testing on the Ban Phuc DSS deposit with an aim to develop a flow sheet for a product suitable for the lithium-ion battery industry and intends to investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium-ion battery industry.

 

Email: admin@blackstoneminerals.com.au

Web: www.blackstoneminerals.com.au