Pioneer Resources Commences Mavis Lake Drilling

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has commenced drilling at the Mavis Lake lithium project in Ontario Canada.

Pioneer Resources said the drilling is being undertaken in conjunction with its Joint Venture International Lithium Corp.

The company said it had been advised by its geological consultant that the first hole, MF18-51, which was completed on 21 January, intersected three spodumene-bearing pegmatites, including one with a down-hole thickness of 20 metres from 82m.

“Pioneer will update the market about the progress of drilling at Mavis Lake as the program advances,” Pioneer Resources said in its ASX announcement.

“Drilling is expected to take up to 30 days to complete and assay results are expected to be available by the end of March 2018.”

 

Website: www.pioresources.com.au

Ausgold Highlights Katanning Gold Mineralisation Extensions

THE DRILL SERGEANT: Ausgold (ASX: AUC) announced it has initial results from air core drilling (AC) carried out at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed the large AC drill campaign of 331 holes through December 2017 and January 2018, targeting geochemical and geophysical targets along strike from known gold mineralisation.

Part of the campaign, consisting 264 AC drill holes, tested along strike on the Jackson-Lone Tree and Olympia-Jinkas mineralised trends at the KGP.

The AC drilling results have been received from 181 of the 264 holes drilled, with results from a further 83 holes drilled in the Jackson-Olympia area pending.

Ausgold said the results from Jackson have highlighted the continuity of east-dipping (40-60m) gold mineralisation from Lone Tree towards Jackson in the north.

The company said this northward trend was evident in aeromagnetic images and the continuity of mineralisation has been confirmed by the recent round of drilling with a number of intercepts returning greater than one gram per tonne gold, including three bottom-of-hole intercepts greater than 0.5g/t gold (holes BSAC1593, BSAC1603 & BSAC17420).

Olympia is located 820m north along strike from the Jinkas mineralisation and has a similar moderate easterly dip.

Ausgold said the latest AC drilling results have extended mineralisation a further 700m towards the northwest and highlight prospective mafic granulite that is locally folded around a quartz monzonite (previously referred to as adamellite) body.

“With this latest round of air core drilling, we have significantly advanced our knowledge of the geology and the extent of gold mineralisation within our 100 per cent-owned Katanning gold project,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The initial results have highlighted the relatively untested continuity between Resources that have significant gold grades being intersected close to surface.

“There remains significant potential to grow the KGP’s mineral inventory through near-Resource additions and elsewhere along the project’s total 17-kilometre strike length.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

BCI Minerals Confirms Kumina Iron Ore Potential

THE DRILL SERGEANT: BCI Minerals (ASX: BCI) took receipt of positive initial iron ore drilling results from the company’s Kumina tenements in northwest Western Australia.

BCI Minerals explained the Kumina tenements comprise three granted exploration licences covering an area of approximately 480 square kilometres located approximately 50 kilometres north-east of the company’s Bungaroo South deposit.

The company recently completed a Phase 1 drilling program, consisting of 67 holes at the Kumina A deposit.

Assays results have been received for the first 42 holes, which BC Minerals claims to confirm the presence of iron ore mineralisation at shallow depth.

Best intercepts include:

KRC0023
38 metres at 58.3 per cent iron from surface;

KRC0025
30m at 58.9 per cent iron from surface;

KRC0029
30m at 58.6 per cent iron from surface;

KRC0022
28m at 59.8 per cent iron from surface;

KRC0031
28m at 59.2 per cent iron from surface; and

KRC0027
22m at 61 per cent iron from surface.

The company expects to release a Maiden Mineral Resource estimate at the Kumina A deposit and other targets by Q2 2018.

“BCI identified Kumina as a large, under-explored tenement package and successfully acquired it from Mineralogy in 2017,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.

“We are encouraged by exploration work to date, which is supporting the view that Kumina potentially hosts iron ore deposits that can increase the tonnage available to the Buckland project and improve its development case.”

 

Email: info@bciminerals.com.au

Website: www.bciminerals.com.au

Sayona Mining Acquiring Second Quebec Lithium Project

THE BOURSE WHISPERER: Sayona Mining (ASX: SYA) is making staged acquisition of the Tansim lithium exploration project in Quebec, Canada.

Sayona Mining explained the Tansim project is situated 82 kilometres south-west of the company’s Authier lithium project, also in Quebec.

The project comprises 65 mineral claims of 12,000 hectares, and is considered by Sayona to be prospective for lithium, tantalum, and beryllium.

Historical exploration on the property has included mapping, sampling, geophysics and preparation of a Canadian NI43-101.

Historical work on the project has identified three main rare metal showings, Vézina, Viau, and Viau-Dallaire.

Sayona outlined future exploration activities that will include reinterpretation of historic geophysical data, mapping and sampling of the pegmatites to define drilling targets.

Priority targets include:

Viau Dallaire: a 300-metre-long dyke, dipping 40 degrees north, and 12-20 metres in thickness, which has produced three channel samples, including:

10.3 metres at 1.4 per cent lithium dioxide (Li20)
11.15m at 0.84 per cent Li20 and
18.95 metres at 0.94 per cent Li20, including 7.3m at 1.77 per cent Li20).

Viau: pegmatites have been mapped up to 200m long and 30m wide.

Two separate channel samples returned grades of up to 2.77 per cent Li20 and 1.37 per cent Li20 over 3.2m respectively.

“The company is excited to have another exciting lithium project in close proximity to the Authier project,” Sayona Mining chief executive office Corey Nolan said I the company’s announcement to the Australian Securities Exchange.

“The company will draw on its significant experience and expertise in lithium geology in the region, developed through more than 20,000 metres of drilling and exploration at Authier.

“Tansim demonstrates stand-alone potential but could be developed as a complimentary satellite operation to Authier, where the company is currently completing a Definitive Feasibility Study.”

 

Email: info@sayonamining.com.au

Website: www.sayonamining.com.au

Southern Gold Strikes Deal to Proceed Southern Cross Underground

THE BOURSE WHISPERER: Southern Gold (ASX: SAU) struck a new agreement with development partner, Westgold Resources (ASX: WGX) for the underground development phase at the company’s Cannon gold mine, near Kalgoorlie in Western Australia.

Announcing the deal, Southern Gold outlined the features of the agreement to include Westgold having a five year right-to-mine over a defined one-kilometre radius on mining license M25/333, which essentially covers the Cannon Gold deposit with Westgold assuming all financing and operating risk.

Westgold will also have the right and flexibility to devise its own mine plan.

For this right to mine, Westgold will pay Southern Gold $1.5 million within five business days and a production payment on a $/troy ounce of gold produced under the terms of a production matrix.

Based on an Australian dollar gold price of less than $1800 per ounce Westgold will pay $160 per ounce, or $190 per ounce when the gold price exceeds $1800 for production of up to 15,000 ounces.

For production of more than 15,000 ounces – at the same gold prices – Westgold will pay $180 and $210 per ounce respectively.

“Southern Gold has turned a cash consuming asset into a cash generating one, Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“And it has done so in alignment with Southern Gold’s development philosophy of bringing in third parties who know how to mine and manage risk, particularly the elevated risks of underground mining.

“This deal with Westgold should generate cash for Southern Gold based on the high-grade gold resource at Cannon which stands at 24,000 ounces at 5.2 grams per tonne gold in the Indicated and Inferred categories.

“The arrangement also ensures Southern Gold remains significantly exposed to the upside should the deposit continue at depth.”

 

Email: info@southerngold.com.au

Website: www.southerngold.com.au

Stavely Minerals Encouraged by Ravenswood Results

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) said it has been encouraged by reconnaissance exploration results from the company’s 100 per cent-owned Ravenswood project in north Queensland.

Activity was carried out at the Dreghorn prospect, a group of prospects situated south of the Burdekin River that include the Area 8, Rhyolite Ridge, Ellen Boss, Ellen Boss East, Albion-Queenslander, Rejoice, Hidden Treasure and Percy Keene prospects.

At the Area 8 prospect, surface rock-chips have returned assay results to 0.65 grams per tonne gold, 106g/t silver, 39ppm arsenic and 83ppm antimony.

At the Bowerbird prospect, high-grade rock chip results included 14.2 per cent copper, 279ppm silver, 0.8 per cent zinc and 0.57 per cent lead.

“This exploration potential is particularly enhanced by the fact that Bowerbird is not far from the Area 8 prospect, displaying low-sulfidation colloform and crustiform quartz veining and associated anomalous geochemistry,” Stavely Minerals said in its ASX announcement.

“Further follow-up mapping and sampling is planned.”

Rock chip sampling at the Ravenswood Central prospects returned further encouraging assay results including:

36.6 g/t gold from a 5-10cm thick low-angle quartz vein at the Connolly Far North prospect;

5.54 g/t gold and 2.18 g/t gold from quartz veins at the Trieste prospect;

3.71 g/t gold and 1.88 g/t gold from the Kirker’s prospect; and

0.76 g/t gold and 151 g/t silver from the Dreghorn North prospect.

“Of particular interest, while there were a number of steep to moderate dipping quartz veins, there were also a large number of low-angle quartz veins observed at surface and in creek exposures in the Connolly North and Connolly Far North prospects,” Stavely said.

“Large areas of flat, platy quartz vein float could be indicative of a larger vein system similar to those at the Sarsfield and Nolans deposits at the Ravenswood gold mine, approximately 15 kilometres away.

‘Future work in the Connolly area will likely involve some Induced Polarisation (IP) geophysical surveying aimed at identifying a response from a higher density of quartz veins and associated disseminated sulphide halos.”

 

Email: info@stavely.com.au

Website: www.stavely.com.au

Millennium Minerals Announces Nullagine Results and Redbeard Resource

THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) has been busy at the company’s 100 per cent-owned Nullagine gold project in Western Australia.

Millennium Minerals received results from drilling recently carried out at the ABC Reef, Crow and D Reef prospects that are part of the Golden Gate Mining Centre, which it claims to demonstrate future underground potential below existing open pits.

New assays include:

CROWRD0064A
13 metres at 15.42 grams per tonne gold from 90m, including 11m at 17.60g/t gold (Crow prospect)

DRRD010
4m at 4.84g/t gold from 60m, including 2m at 7.84g/t gold (D Reef prospect)

DRRD010
6m at 4.27g/t gold from 86m, including 1m at 16.55g/t gold (D Reef prospect)

DRRD014A
10m at 5.99g/t gold from 109m, including 4m at 12.42g/t gold (D Reef prospect)

Millennium has also completed a maiden JORC 2012 Mineral Resource Estimate (MRE) for its new Redbeard oxide discovery, located within the Twenty Mile Sandy Mining Centre at Nullagine.

The MRE has come in as an Indicated and Inferred Resource of 245,700 toones at 2.6 grams per tonne gold for 20,600 ounces of gold.

Millennium considers the to be potential to grow the Resource, with further drilling planned this quarter targeting extensions along strike and down-plunge.

“The delivery of an initial oxide resource for the new Redbeard discovery in record time is an exceptional achievement by our exploration team, and shows just how quickly we are able to move from a conceptual exploration target to a resource definition scenario,” Millennium Minerals chief executive Peter Cash said in the company’s announcement to the Australian Securities Exchange.

“Importantly, the mineralisation at Redbeard remains open both along strike and down-plunge, and we see strong potential to build quickly on this initial resource with further drilling planned for this quarter to further evaluate this shallow deposit and assess its potential to form part of our mining plans over the next 1-2 years.

“We are continuing to make new shallow oxide discoveries across the field in areas where there has been relatively little modern exploration – which is a great sign for the future of Nullagine.

“Exploration in other areas is delivering exciting results too.

“Within the Golden Gate Mining Centre, we have identified three areas at Crow, D Reef and ABC Reef where deeper drilling is returning exciting results and demonstrating the potential both for potential cut-backs of existing pits and future underground mining scenarios – as we have seen recently at Bartons.

“Additional drilling is currently underway in this area as part of an aggressive exploration commitment for 2018 which sees four rigs currently operating on site across multiple areas – all focused on rapidly increasing our resource inventory and supporting the expansion studies currently underway to achieve a step-change in our production profile from open pit and underground mining.”

 

 

Email: info@mmltd.com.au

Website: www.millenniumminerals.com.au

Legend Mining Resamples Rockford Results

THE DRILL SERGEANT: Legend Mining (ASX: LEG) received assay results from re-submitted aircore drilling core from Area D at the company’s Rockford project in the Fraser Range of Western Australia.

Legend Mining explained that drilling carried out in November 2017 identified two drillholes, (RKAC151 and RKAC167) with anomalous nickel, copper and cobalt results from four-metre composite samples at Rockford.

Resampling of these holes at one-metre intervals was completed in December 2017 aimed at providing detailed geochemical information within the regolith profile.

Results included:

RKAC151
47 metres at 0.3 per cent nickel, 0.11 per cent copper, 0.03 per cent cobalt from 64m to end of hole, including 10m at 0.23 per cent nickel, 0.25 per cent copper, 0.03 per cent cobalt from 64m, including 6m at 0.38 per cent nickel, 0.15 per cent copper, 0.03 per cent cobalt from 96m; and

RKAC167
10m at 0.09 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt from 56m to end of hole, including 4m at 0.14 per cent nickel, 0.16 per cent copper, 0.02 per cent cobalt from 59m.

“These results are essentially a repeat of the earlier assays and confirm that the four-metre composite sampling methodology that we are employing gives an accurate indication of nickel, copper and cobalt numbers,” Legend Mining managing director Mark Wilson said in the company’s announcement to the Australian Securities Exchange.

Upcoming work at Rockford is to include infill aircore drilling adjacent to drillholes RKAC151 and RKAC167 to determine the extent of the anomalous nickel-copper-cobalt footprint.

The company will also complete the final 20 holes of its 2017 aircore program at Area D and will complete additional drill traverses over other aeromagnetic and gravity features at Area D.

Results from the aircore drilling will be used to assist design of follow-up MLTEM surveying with further evaluation of previously identified EM conductors to be carried out at Areas D, J, Q and U.

“The new aircore program is designed to investigate the anomalous geochemical footprint around holes RKAC151 and RKAC167 and more interesting magnetic/gravity features at Area D,” Wilson said.

 

Website: www.legendmining.com.au

Musgrave Minerals Recommences Break of Day Drilling

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is back out drilling on the Break of Day gold deposit and at the new Louise discovery at the company’s Cue project in the Murchison region of Western Australia.

Musgrave Minerals explained its current diamond drilling at Break of Day is focused on extensions to high-grade shoots where previous drilling intersected:

17MORC084
11 metres at 54 grams per tonne gold.

This intersection is outside the current resource boundary and open down plunge.

A diamond drilling program that commenced in early December is progressing and is expected to take another four to six weeks to complete with first assays returned in early February.

An initial nine-drill hole program of reverse circulation (RC) drilling has also commenced at the recent Louise discovery to follow-up a near surface discovery intersection of:

17MORC112
4m at 15.4g/t gold from 79m.

This drilling is anticipated to take approximately seven days to complete with first assays expected in late February.

“The diamond drilling is confirming the continuity of the geology and gold mineralisation is consistent with the RC results,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The diamond drilling is now focusing on extending the high-grade gold shoots at depth at Break of Day.

“RC follow-up drilling at Louise will aim to extend the newly discovered near surface high-grade gold mineralisation and infilling the 750 metre gap in drilling between Break of Day and Louise.

“This is a high priority area for the company with significant upside potential to extend and grow our high-grade gold resource.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

Middle Island Resources Receives Positive Pit Optimisation News

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) announced results from pit optimisation of the Wirraminna deposit Mineral Resources.

Midlle Island Resources’ Wirraminna deposit is located immediately adjacent to the company’s 100 per cent-owned Sandstone gold project in Western Australia within one kilometre of the associated gold processing plant.

Middle Island declared a JORC 2012-compliant Mineral Resource estimate in December last year of 550,000 tonnes at 1.3 grams per tonne gold for 23,000 ounces of gold at a 0.5g/t gold lower cut-off grade for Wirraminna.

The company had open pit optimisations completed on the December 2017 Mineral Resource model using a base case Australian dollar gold price of $1,600 per ounce, as well as utilising other input parameters derived from the December 2016 Sandstone project Pre-Feasibility Study.

At a gold price of $1,600 per ounce the optimal pit shell, based on the maximum undiscounted operating cash flow, includes 72,000 tonnes at a grade of 1.97g/t gold for a strip ratio of 9:1.

According to Middle Island, this equates to a mill recovered 4,200 ounces of gold from a pit shell depth to a maximum of 45 metres from surface that is wholly contained within the oxide zone.

The company believes opportunity remains to further extend and enhance the Wirraminna deposit via follow-up drilling, including infill and extension drilling of Inferred Mineral Resources, and confirming the location of historic higher-grade holes.

To that end, it is planning further RC drilling and will obtain additional data, prior to updating pit optimisations, considering pit design work and Ore Reserve estimation.

“The positive drilling results, Mineral Resource estimation and pit optimisation work on the Wirraminna deposit serves to further extend the production profile for the proposed Sandstone gold operation,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“However, the quantum and grade of the deposit is presently insufficient to trigger a mill recommissioning decision in isolation.

“Drilling indicates that substantial potential remains to extend the deposit, and the location of higher grade historic drill intercepts of 11 metres at 23.8 grams per tonne, 16 metres at 14.6 grams per tonne and 19 metres at 4.85 grams per tonne gold remain unresolved.

“As such, a program of infill and extension RC drilling is planned to address these opportunities.”

 

 

Email: info@middleisland.com.au

Website: www.middleisland.com.au