Matsa Resources Defines Gold Zone at Red Dog Project

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has completed an initial RC drilling program at the company’s Red Dog gold project in Western Australia.

The project is located 25 kilometres west of the company’s Fortitude gold project where trial mining is underway.

Matsa Resources said the drilling program, which consisted of 103 RC holes aimed at testing historical drilling data and evaluating the economic potential of the project, has confirmed shallow and consistent mineralisation with strong potential for further mineralisation.

Assay results (0.5g/t gold lower cut-off) include:

17RDRC077
6 metres at 155 grams per tonne gold from 6m, including 1m at 921g/t gold from 7m;

17RDRC073
11m at 2.59 g/t gold from 5m;

17RDRC082
14m at 1.97 g/t gold from 3m;

17RDRC029
6m at 4.57 g/t gold from 13m;

17RDRC087
8m at 3.23 g/t gold from 22m;

17RDRC032
8m at 3.11 g/t gold from 4m;

17RDRC081
10m at 2.31 g/t gold from 8m; and

17RDRC072
8m at 2.56 g/t gold from 11m.

“The results highlight a near surface, relatively flat lying and continuous zone of mineralisation one metre to 14 metres thick and typically from three metres to 10 metres below surface,” Matsa Resources said in its ASX announcement.

“Mineralisation remains open in several directions.

“Gold mineralisation is hosted within an altered basalt with associated silica, hematite and pyrite alteration.”

The Red Dog gold project consists of three granted mining leases (MLs): M39/38, M39/1099 and M39/1100 for a total area of 81.6 hectares that contain historical drilling results Matsa believes highlights potential for a near term, shallow mining operation.

Matsa is now working to determine the economic potential of the Red Dog gold project and is determining a resource estimate.

Flora, fauna and heritage surveys have already been completed.

Website: www.matsa.com.au

Alliance Resources Confirms High-Grade Gold at Weednanna Target 4

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) reported provisional results for the third round of reverse circulation (RC) drilling carried out recently at the Weednanna gold prospect.

The weednanna prospect is part of the Wilcherry Project Joint Venture between Alliance (61.36%) and Tyranna Resources Ltd (ASX: TYX) (38.64%).

Alliance Resources completed the RC drilling program in early November, which was designed to define the geometry of Targets 1, 2 and 3 with step-out drilling and to test the new Target 4 with initial drilling by Alliance.

A total of 21 RC holes were drilled with nine holes reporting intercepts of greater than one gram per tonne gold and four holes returning greater than 50g/t-m gold.

Results included:

17WDRC067 (Target 4)
16 metres at 22.11 grams per tonne gold from 104m;

17WDRC057 (Target 2)
8m at 14.52g/t gold from 60m;

17WDRC051 (Target 1)
48m at 2.37g/t gold from 44m, including 24m at 3.91g/t gold from 44m; and

17WDRC070 (Target 4)
4m at 16.7g/t gold from 80m.

“These results, in particular the high-grade results from Target 4, confirm our view that Weednanna is a growing gold system that demonstrates significant potential for the discovery of further high-grade gold shoots,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

Calidus Resources Confirms High-Grade Gold Across all Prospects

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported that diamond drilling has confirmed the presence of high-grade gold at all the company’s prospects located in the Pilbara of Western Australia.

Calidus Resources said it had encountered high-grade gold across its Klondyke, Copenhagen, Coronation and Fieldings Gully prospects.

The company will soon commence an accelerated drilling program to follow up these results.

Calidus said visible gold observed during geological logging had been confirmed by high-grade assays in all three core holes drilled at Klondyke.

Wide high-grade mineralisation was confirmed in core drilling at the Copenhagen, Coronation and Fieldings Gully satellite deposits, all located within 10 kilometres of Klondyke.

Drilling intercepts include:

Klondyke

17KLDD001

25 metres at 3.41 grams per tonne gold from 88m

Copenhagen

17CPDD001

6m at 7.74g/t gold from 70m

17CPDD002

4m at 7.46g/t gold from 56m

Coronation

17CRDD001

10m at 3.31g/t gold from 108m

Fieldings Gully

17FGDD001

10m at 9.68g/t gold from 85m.

The company indicated that preparations for extensional drilling at Klondyke East, Fieldings Gully and Copenhagen have commenced, with the aim of completion by end of year.

“We have successfully intersected multiple high-grade gold intercepts at all of our satellite deposits drilled to date, in addition to a wide high-grade zone in the middle of the Klondyke resource,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This ongoing regional exploration in proximity to Klondyke continues to reveal exceptional results which provides further support for the potential for significant new discoveries and additional resource ounces at Klondyke and within the existing tenement portfolio.

“In light of these exceptional results, we have expanded our previously announced Klondyke East drilling to target extensions of the recently drilled Fieldings Gully and Copenhagen deposits with drilling due to commence at the end of this week.

“With drilling due to commence again imminently and our resource upgrade on track for delivery this year, we continue to aggressively define this large, shear hosted gold project which we believe will support a stand-alone gold development in the future.”

Email: info@calidus.com.au

Website: www.calidus.com.au

Encounter Resources Expands footprint of East Thomson’s Gold System

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) announced high-grade assay results from a recent drill program and widespread surface coarse gold recovered from new reefs at East Thomson’s Dome (ETD), located in the Paterson Province in Western Australia.

Encounter Resources conducted a 15 hole program of RC drilling at the Fold Closure reef in early November 2017.

Assay results from what the company consider to be two important drill holes remain pending, however the assays received to date contain a number of additional reef-style, close to surface intersections including:

ETG109
4 metres at 4.3 grams per tonne gold from surface;

ETG110
4m at 3.5g/t gold from 17m; and

ETG106
2m at 5.4g/t gold from 46m.

The Fold Closure reef remains open, demonstrated by the most south-western hole in the program ETG103, which included:

1m at 4.3g/t gold as part of 5m at 1.4gt gold from 189m towards to bottom of the hole.

“The early results from the recent aircore/RC drill drilling has expanded the footprint of the gold system at East Thomson’s Dome,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“The widespread coarse gold recovered is indicative of multiple gold reefs with some impressive nuggets discovered.

“The discovery of the new 46 Reef in a new area with no previous exploration demonstrates the high potential to identify more gold-bearing reefs from the upcoming ultra-detailed surface mapping program utilising drone technology.”

Email: info@enrl.com.au

Website: www.enrl.com.au

Sayona Mining Improves Authier Metallurgy Results

THE BOURSE WHISPERER: Sayona Mining (ASX: SYA) reported the third phase of metallurgical testing results for the company’s Authier lithium project in Quebec, Canada.

Sayona Mining declared the latest results continued to demonstrate the project’s ability to achieve six per cent lithium dioxide (Li20) lithium concentrate grades at 80 per cent metallurgical recoveries or better.

The company carried out the metallurgical testing program using a new representative sample from the Authier deposit, which it said was representative of both the expected feed grade and expected mineralogy of the deposit over the life-of-mine.

Sayona will be incorporating the new results into its Definitive Feasibility Study.

A new diamond drilling program is now underway and will provide approximately five tonnes of drill core to be used on a pilot scale metallurgical testing program.

“The objective of the Phase 3 metallurgical testing was to assess flotation performance with Authier project site water,” Sayona Mining said in its ASX announcement.

“The two most recent phases of metallurgical testing have included variations in the grind size, flotation residence times, reagent dosages, adjustments to magnetic intensity, using unprocessed Authier site water, and assessing the impact of waste dilution on metallurgical outcomes.

“The objective of the programs is to improve on the February 2017 Pre-Feasibility Study assumptions of a 5.75 per cent concentrate at 80 per cent metallurgical recovery.

“The new metallurgical testing program was undertaken with a new representative sample of the Authier deposit from drill core from the company’s Phase 1 and 2 diamond drilling programs.”

Email: info@sayonamining.com.au

Website: www.sayonamining.com.au

Sipa Resources Expands North Paterson Landholding

THE BOURSE WHISPERER: Sipa Resources (ASX: SRI) expanded the company’s tenement package in the Paterson Province of Western Australia to 1,242 square kilometres with the addition of the Anketell North tenement ELA 45/5104.

Sipa Resources picked up the new ground after identifying a series of new exploration targets through the interpretation of data received from a recently completed ground gravity survey.

The recent gravity survey added approximately 2000 data points, taking the total number of data points to over 5000.

Sipa described this as being a compelling new dataset in what it considers to be relatively under-explored and prospective terrain.

The company claims the combination of the gravity data with magnetic data clearly identifies areas where granites intrude (gravity lows) and structural culminations or domes (shown in the magnetic data).

This has been interpreted to collectively demonstrate a similar style or geological setting to Telfer (>25Moz gold plus copper) and other mineralised systems in the Paterson Province.

“The substantial program of work completed in 2017 has confirmed that the Paterson North project is highly prospective and contains large, altered, veined sulphidic mineral systems which are spatially related to granite intrusions of the same age…as the gold systems of the Southern Paterson,” Sipa Resources said in its ASX announcement.

“The gravity survey indicates that this prospective stratigraphy extends further to the north-west and, as a result, a new tenement called Anketell North has been pegged to the North of the Anketell tenement.”

Email: info@sipa.com.au

Website: www.sipa.com.au

Musgrave Minerals Confirms New High Grade Gold Discovery

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is pleased to report assay results from the Louise prospect, the latest gold discovery at the company’s Cue project in Western Australia.

Musgrave Resources completed three reverse circulation (RC) holes at the Louise prospect, located 750 metres south of the Break of Day deposit, from which it observed mineralisation it considers to be similar in style and nature to that at Break of Day.

Assay results for the three drill holes showed two, 17MORC112 and 17MORC111, intersected the targeted structure and quartz lode at Louise demonstrating continuity over strike.

17MORC112
4 metres at 15.4 grams per tonne gold from 79m down hole, including 2m at 29.9g/t gold from 81m open to the north and down dip.

Musgrave also interpreted a northern plunge from the historical workings at surface through 17MORC112, which it compared to the plunge on the Velvet Lode at Break of Day.

The company believe the high-grade gold intersection at Louise demonstrates potential for the formation of multiple high-grade gold shoots along the Break of Day shear which extends for over 20km of strike with very limited basement drill testing.

“This is a great initial result at Louise and highlights the potential for new high-grade gold discoveries within the 20 kilometres of prospective strike of this under explored belt,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The mineralisation is within the southern continuation of the Break of Day shear and is wide open along strike and down dip.

“Louise is the second high-grade gold discovery for Musgrave within 18 months, which is a great achievement for the team.”

 

Email: info@musgraveminerals.com.au

 

Website: www.musgraveminerals.com.au

 

 

Intermin Resources Continues Golden Run

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released further reverse circulation (RC) drilling results, this time from the company’s 100 per cent-owned Teal gold project, located 11 kilometres from Kalgoorlie-Boulder in Western Australia.

Intermin Resources completed five RC holes at the Jacques Find discovery to follow up encouraging RC drilling results announced in November that included:

JFRC1704 
26 metres at 7.81 grams per tonne gold from 48m and 16m at 5.33g/t gold from 86m.

The company explained four of the latest holes targeted oxide-transitional mineralisation zones and the fifth hole was completed as a re-entry of hole JFRC1701, which had been interpreted to have finished short of the target zone.

Results from the latest RC drilling include:

JFRC1711
27m at 4.16g/t gold from 45m ;

JFRC1713
1m at 9.53g/t and 10m at 2.59g/t gold from 71m ; and

JFRC1712
2m at 3.38g/t gold from 31m.

“Jacques Find is shaping up as a significant new discovery within our 100 per cent-owned asset portfolio and will be the subject of a larger scale resource drill program in 2018,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“The latest results, particularly in the shallower supergene zone have demonstrated potential for both open cut and underground mining.

“Jacques Find is quickly joining Anthill and Blister Dam as a key part of Intermin’s longer term production profile.”

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

Middle Island Resources Announces Sandstone Target Resource

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) released an Exploration Target for the Two Mile Hill tonalite deeps deposit at the company’s Sandstone gold project in Western Australia.

Middle Island Resources released the target of 24 million tonnes at 1.1 grams per tonne gold to 1.4g/t gold, comprising between 0.9 million ounces and 1.5 million ounces estimated between 140 metres and 700m depth.

The company declared the potential quantity and grade of the Exploration Target to be conceptual in nature, as it has yet to complete sufficient exploration to estimate a Mineral Resource, adding that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The estimated Exploration Target includes results from diamond core hole MSDD156, which generated a gold intercept of 508.3m at 1.38g/t gold, including 160m at 2.31g/t gold.

Middle Island claimed the Exploration Target confirms the presence of a substantial mineralised system measuring approximately 250m in strike and up to 90m in width at surface, which is mineralised to at least 713m depth and remains open at depth.

Within the Exploration Target, broader, sub-horizontal zones of higher grade mineralisation have been intercepted and include 22m at 5.95g/t gold, 37m at 4.46g/t gold, 50m at 2.71g/t gold, 13m at 6.39g/t gold, and 11m at 6.89g/t gold.

“The new Exploration Target, along with encouraging results derived from recent metallurgical and mineralogical testwork, increases the potential for bulk underground mining beneath the proposed open-pit cutback on the Two Mile Hill tonalite deposit,” Middle Island Resources said in its ASX announcement.

“Formal resource updates for both the Two Mile Hill tonalite deeps and BIF deposits are being prepared by an independent consultant prior to completing the underground mining concept study.”

 

Email: info@middleisland.com.au

 

Website: www.middleisland.com.au

 

Intermin Resources Extends Baden Powell Mineralisation

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) announced results of reverse circulation (RC) undertaken on the company’s 100 per cent-owned Baden Powell gold project, located north of Kalgoorlie-Boulder in Western Australia.

Intermin Resources explained the drilling was designed to test for shallow strike extensions to previously identified mineralisation adjacent to an historic shallow open pit mine.

Intermin has conducted drilling at Baden Powell throughout 2017, comprising eight RC holes carried out in two parts.

The company reported the results from the first five holes in August, which highlighted a new discovery in BPRC1703 (17m at 3g/t gold from 104m).

The final three holes of the program have only recently been completed, encountering mineralisation approximately 120 metres north along strike of hole BPRC1703.

Highlight intercepts include:

BPRC1708
14 metres at 1.87 grams per tonne gold from 129m; and

BPRC1701
10m at 1.3g/t gold from 183m, including 2m at 3.93g/t gold from 183m.

“The results from Baden Powell are encouraging given they have extended the strike length of the mineralisation and demonstrated the system is developing at depth,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Follow up work is planned for the second half of 2018.

“The company is certainly spoilt for choice as we plan the large scale self-funded drilling program for 2018.

“Anthill and Jacques Find will be prioritised given recent drilling success and we eagerly await results from the current drilling at Blister Dam due early in the March Quarter.”

Intermin indicated the drilling results it has achieved throughout 2017 have encouraged the company to conduct further drilling.

This is most likely to occur at the Anthill and Jacques Find projects, which will be prioritised for follow up in 2018.

Intermin will also focus on low level exploration work at Baden Powell, with the intent to conduct a soils-mapping program over M24/959 and possibly an Induced Polarisation (IP) survey.

The company considers the IP survey could assist in fast tracking targeting of potential locations of an interpreted high-grade structure intercepted in hole BPRC1703.

Any IP targets discovered would be drill tested early in 2019.

Email: iadmin@intermin.com.au

Website: www.intermin.com.au