Impact Minerals Cashed Up for Exploration Advance

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THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has received firm commitments to raise just over $2.1 million.

The raising is by way of a placement of 233.4 million share to sophisticated and professional investors at 0.9 cents per share.

Impact Minerals indicated it would be using the funds raised to fund new drilling at the company’s Broken Hill project targeting high-grade palladium and other platinum group metals at Red Hill, and other prospects, at a time of record prices for palladium and rhodium.

In addition, follow-up copper-gold focused work at Impact’s Commonwealth project, near Orange and along trend from the recent Boda discovery of Alkane Resources, including soil geochemistry surveys and ground geophysics, is also now fully funded and will commence as soon as practicable.

“With palladium at a record price of more than US$2,500 per ounce, and rhodium prices literally exploding above US$10,000 an ounce in the past week, Impact is pleased to now have the funds to aggressively return to exploration at our unique Broken Hill project,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“Our previous drilling there has delivered exceptional grades of all six platinum group metals (palladium, platinum, rhodium, ruthenium, osmium and iridium) not to mention gold, nickel and copper as well.

“We are looking forward to getting the drill bit turning at Red Hill as soon as possible where we returned drill grades of 1.2 metres at 254 grams per tonne palladium and 4.6 grams per tonne rhodium – exceptional PGM grades on a world scale.

“The company is also about to commence re-assays of key drill intercepts, for rhodium, which is not routinely assayed for.

“With this new funding, Impact is also now in a position to push forward with follow-up work on our exciting Commonwealth project targets along trend and close to the recent Boda discovery in the copper-gold rich Lachlan Fold Belt, currently one of the hottest exploration footprints in Australia.

“We will have boots on the ground there shortly to complete soil geochemistry surveys and subsequently ground geophysical surveys to define targets for drilling later in the year.”

 

Email: info@impactminerals.com.au

Web: www.impactminerals.com.au

 

Barra Resources Finalises Mt Thirsty PFS

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THE BOURSE WHISPERER: Barra Resources (ASX: BAR) released the long-awaited results for the Pre-Feasibility Study completed at the company’s Mt Thirsty cobalt-nickel project in Western Australia.

Barra Resources declared Mt Thirsty has now claimed the number one position of Australia’s ‘most advanced genuine cobalt project’.

Nickel is not forgotten and has emerged as a useful by-product with a cobalt-nickel value split of 71 per cent to 29 per cent.

The study has scaled up the project to a 1.8 million dry tonnes per annum feed rate to produce 19100 tonnes of cobalt and 24800 tonnes of nickel as a Mixed Sulphide Product (MSP) over a 12 year mine life.

The project boasts an estimated maiden JORC 2012 Probable Ore Reserve of 18.8 million dry tonnes at 0.13 per cent cobalt and 0.54 per cent nickel.

The release of the study results coincides with a cobalt price that is forecast to rise by investment banks surveyed by the company as demand for electric vehicle batteries continues to grow and other cobalt supply growth options limited.

The Mt Thirsty Joint Venture (MTJV) has identified the highest value development path to be a farm-in from a large global firm, eager to secure a guaranteed sustainable source of cobalt.

The direct project expenditure for the MTJV now reverts to a minimum while the partnering strategy is pursued as planned.

The MTJV is now re-engaging with several major Australian and international mining, trading and refining firms who have all identified a high quality PFS as their minimum investment criteria.

“This study is the culmination of 18 months’ work by the MTJV,” Barra Resources managing director and CEO and MTJV PFS manager Sean Gregory said in the company’s announcement to the Australian Securities Exchange.

“I am confident that the PFS has been completed to a very high standard by global engineering houses that will stand up to the most detailed scrutiny from potential project partners.

“We are now looking forward to engaging with these large global firms who are eager to secure a guaranteed sustainable source of cobalt for electric vehicle batteries.”

 

Email: info@barraresources.com.au

Web: www.barraresources.com.au

 

Stavely Minerals Takes Out 2020 Craig Oliver Award at RIU Explorers Conference

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THE CONFERENCE CALLER: Stavely Minerals (ASX: SVY) was named winner of the 202 Craig Oliver award on Day two of the 2020 RIU Explorers Conference in Fremantle.

The award is given to the ASX-listed resources company that is considered by the judging panel to exemplify an all-round excellence in several fields over the past year, including exploration, mining, corporate, market results, environment and community.

Accepting the award in front of a packed ballroom at The Esplanade Hotel, Stavely Minerals executive chairman Chris Cairns said he was blown away at receiving the gong.

“It is an honour to receive this award on behalf of the team at Stavely,” Cairns said.

“I must also acknowledge the outstanding list of other nominees for this year’s award.

“I think the phenomenal achievements currently being made across the Australian mining and exploration industry including some very exciting news of discoveries on both sides of the country and the incredible performance of the mid-tier gold sector in recent years is testament to the industry’s tenacity and resilience.”

Other companies nominated this year for the 2020 Craig Oliver Award were:

Alkane Resources (ASX: ALK)
A gold producer with a multi-commodity exploration and development portfolio.

Alkane’s projects are predominantly in the Central West region of New South Wales, but extend throughout Australia.

Bellevue Gold (ASX: BGL)
A West Australian gold explorer advancing the historic Bellevue gold mine.

In its day, the Bellevue mine was one of Australia’s highest-grade gold mines, producing 800,000 ounces at 15 grams per tonne gold from 1986 to 1997.

Gold Road Resources (ASX: GOR)
A gold producer with Tier 1 mine and exploration projects in the underexplored and highly prospective Yamarna Greenstone Belt in Western Australia’s north-eastern Goldfields.

Gold Road officially opened the Gruyere gold mine (50:50 JV with Gold Fields) late last year.

Image Resources (ASX: IMA)
Australia’s newest minerals sands mining company, operating at its high-grade, zircon-rich Boonanarring project in the infrastructure rich North Perth Basin.

RIU Explorers Conference managing director Stewart McDonald told the packed auditorium Stavely Minerals was a deserved winner of the 2020 Craig Oliver Award.

“While all five nominees have all notched up significant achievements throughout 2019, Stavely Minerals was the one that really stood out not only in terms of its exceptional exploration success but also in terms of acquisitions, share market activity and leadership,” McDonald said.

“I congratulate Chris and the Stavely team with this prestigious win.”

 

 

THE DAILY ROADHOUSE

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Saturn Metals Confirms High-Grade Mineralisation at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the first results from the 2020 reverse circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Matsa Resources Extends Fortitude North Mineralisation

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has received early results from diamond drilling at Fortitude North, located within the company’s Lake Carey gold project in Western Australia.

Ardiden Identifies High-Grade Gold Hits in Pickle Lake Review

THE DRILL SERGEANT: Ardiden Limited (ASX: ADV) scored well from a recently completed review of historical drillhole data at the company’s Pickle Lake gold project in Ontario, Canada.

Alloy Resources Acquires New Exploration Pipeline Via Dingo Resources

THE BOURSE WHISPERER: Alloy Resources (ASX: AYR) has entered into a binding Heads of Agreement to acquire unlisted public company Dingo Resources Limited.

 

Alloy Resources Acquires New Exploration Pipeline Via Dingo Resources

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THE BOURSE WHISPERER: Alloy Resources (ASX: AYR) has entered into a binding Heads of Agreement to acquire unlisted public company Dingo Resources Limited.

Alloy Resources explained that Dingo has the right to acquire two mineral exploration projects in Western Australia which Alloy believes will revitalise its pipeline of exploration projects and offer new opportunities for exploration success.

“We have been looking for the right opportunity to revitalise the company’s pipeline of projects and these high-quality exploration plays have the potential to be ‘company makers’ for Alloy,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“Through Dingo, we are pleased to be acquiring two fantastic exploration opportunities in Western Australia.

“To complement our JV with Rio Tinto in the Paterson, we are now purchasing a project from Rio in the West Musgrave region which has a well-defined target.

“In addition, we have also secured a large landholding right in the middle of Sandfire’s Bryah Basin exploration areas which has numerous early stage copper-gold targets.

“This year is going to be incredibly busy for Alloy and we look forward to delivering on this huge potential for both existing shareholders and new investors.”

The Morgan Range project is located in the West Musgrave belt of Western Australia and encompasses similar geology to the large Nebo-Babel and Succoth nickel-copper deposits, located some 50 kilometres to the south west, which have been the subject of a recently completed Pre-feasibility Study by Oz Minerals in Joint Venture with Cassini Resources.

The principal target is a strong historical aerial electro-magnetic anomaly (TEM) selected by Rio Tinto Exploration (RTX) for pegging, which has now been optioned to Dingo.

The Bryah Basin project is located approximately 80 kilometres north of Meekatharra in the Gascoyne district of Western Australia.

The project comprises five early stage Exploration Licences covering 260 square kilometres.

 

Email: info@alloyres.com

Web: www.alloyres.com

 

Saturn Metals Confirms High-Grade Mineralisation at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the first results from the 2020 reverse circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Saturn Metals is currently drilling at Apollo Hill as part of its efforts to rapidly expand and improve the newly discovered high-grade hanging wall zone and to grow and improve the project’s current Mineral Resource.

High-grade, thick and shallow intersections were achieved in the latest step out drill hole:

AHRC0330
8 metres at 12.9 grams per tonne gold from 126m within 14m at 7.75g/t gold from 120m, and;

5m at 8.03g/t gold from 111m.

These intersections follow on from recently released results of:

AHRC0312
12m at 9.98g/t gold from 269m and 11m at 3.2g/t gold from 208m in hole

Saturn Gold believes the results combine to provide important evidence of the repeatability of high-grade mineralisation in the Apollo Hill hanging walls.

The latest results also provide an important vector for additional discovery with several high-grade stacked lodes now interpreted.

As before, the new intersections sit outside, but adjacent to, the current Mineral Resource of 24.5 million tonnes at 1g/t gold for 781,000 ounces of gold and highlight the potential to increase the grade, quality and scale of the resource.

“These excellent results have provided strong evidence of the repeatability of high-grade mineralisation in this thick mineralised corridor,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Drilling continues to show the potential for significant resource improvement and growth immediately adjacent to the initial Apollo Hill zone.

“Key vectors for additional discovery are now apparent.

“Drilling continues with two rigs focussed on follow up drilling around this important zone and several assays are pending.

“We look forward to the ongoing results flow and to including the new information into our next resource update currently scheduled for mid-2020.”

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Matsa Resources Extends Fortitude North Mineralisation

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has received early results from diamond drilling at Fortitude North, located within the company’s Lake Carey gold project in Western Australia.

Matsa Resources originally planned for a four0hole drilling program, however it ended up completing seven drill holes (20FNDD02 – 20FNDD08) and has to date received assay results for only two of these.

Drilling was designed to test the strike extent of gold mineralisation the company had previously intersected by diamond and RC drilling in 2018 and 2019.

Drilling at the time was limited to only the northern end of a 1,500 metre long basement gold anomaly discovered by Matsa’s aircore drilling in 2018.

“All seven diamond drill holes intersected alteration and veining which appear to be a continuation of the mineralised zone,” Matsa Resources said in its ASX announcement.

“This program has tested only half of the 1,500m basement gold anomaly.”

Key intercepts include:

20FNDD02
4 metres at 13.63 grams per tonne gold from79m, including 1m at 10.2g/t gold from 81m and 1m at 42.9g/t gold from 82m; and

20FNDD04
10.3m at 3.48g/t gold from 124.6m, including 6.5m at 4.79g/t gold from127m, including 1m at 13.9g/t gold from 127m.

“Originally only four drill holes were planned but due to the presence of distinctive and highly prospective alteration and veining, the program was expanded to seven drill holes,” Matsa explained.

“Further drilling is planned over the remaining strike extent of the anomaly and to test the resource potential of this discovery.”

 

Email: reception@matsa.com.au

Web: www.matsa.com.au

 

Ardiden Identifies High-Grade Gold Hits in Pickle Lake Review

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THE DRILL SERGEANT: Ardiden Limited (ASX: ADV) scored well from a recently completed review of historical drillhole data at the company’s Pickle Lake gold project in Ontario, Canada.

Ardiden reported that the review revealed numerous high-grade drill intercepts up to 472.8 grams per tonne gold over a 25 kilometres strike length.

The data under review concerned Ardiden’s recent acquisition over the New Patricia gold property with Exiro Minerals Corp as well as Ardiden’s 100 per cent-owned Dorothy-Dobie gold property.

The New Patricia and Dorothy Dobie tenements extend over a continuous length of 40 kilometres of under-explored yet prospective geological setting, directly along strike from the historical Golden Patricia gold mine.

Highlights of the drillhole intercepts revealed from the review of the diamond drilling include:

DOR-90-043
0.5 metres at 472.8 grams per tonne gold from 184.1m;

DOR-07-005
0.44m at 153.5g/t gold from 111.4m;

MD-90-119
0.32m at 26.4g/t gold from 60.34m;

MD-90-113
0.4m at 17.5g/t gold from 54.12m;

DOR-88-034
1.5m at 13.7g/t gold from 43.32m;

MDW-90-026
1.1m at 12g/t gold from 71.72m;

DOR-88-028
8.63m at 5.5g/t gold from 55.82m, including 3.8m at 10.8g/t gold;

DOR-88-025
20.65m at 3.6g/t gold from 96.85m, including 1.5m at 14.9g/t gold;

DOR-88-032
7.12m at 3.6g/t gold from 113.06m; and

ME-88-08
12.03m at 3.2g/t gold from 29.9m, including 0.9m at 13.5g/t gold.

“Our review of historical data provides clear evidence of significant extensions of high-grade gold mineralisation on our ground along strike of the historical underground gold mine at Golden Patricia,” Ardiden managing director Rob Longley said in the company’s announcement to the Australian Securities Exchange.

“In addition to good width intercepts of high-grade gold, this data shows numerous spectacular grade intercepts along a 25 kilometres strike.

“An intersection of 472.8 grams per tonne gold over half a metre supports our exploration strategy to focus on high-grade lode-style gold mineralisation.

“Our aggregation of a compelling ground holding at the Pickle Lake gold project has a clear objective of defining the next world class gold deposit in Ontario.”

The historical data set that Ardiden compiled and reviewed together with Exiro’s proprietary data included 480 drillholes representing over 38,000m of drilling over the 25km strike length.

Some drilling dates back to 1971, with the most recent drillholes being completed in 2009.

This is the first time the results have been reported under the JORC Code 2012.

 

Email: info@ardiden.com.au

 

Web: www.ardiden.com.au

 

THE DAILY ROADHOUSE 18/2/20

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Middle Island Resources Grabs More Barkly IOCG Ground

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has been allocated between 19 per cent and 95 per cent of each of four competing exploration licence applications, located within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory.

Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has hit more than 60 metres of strong alteration and disseminated sulphides including chalcopyrite and pyrite with the first diamond core drill hole of a maiden multi-hole drill program at the company’s 100 per cent-owned Wolf Mountain project in Sweden.

 

Middle Island Resources Grabs More Barkly IOCG Ground

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THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has been allocated between 19 per cent and 95 per cent of each of four competing exploration licence applications, located within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory.

Middle Island had already had a further six Middle Island exploration licence applications accepted in full (100%).

The latest Barkly super-project allocations to Middle Island comprise:

ELA32297 – 35 of 186 blocks allocated (19%), representing 110.92 square kilometres;
ELA32298 – 137 of 228 blocks allocated (60%), representing 443.37sqkm;
ELA32301 – 230 of 242 blocks allocated (95%), representing 740.7sqkm; and
ELA32304 – 21 of 73 blocks allocated (29%), representing 67.8sqkm.

The newly allocated Middle Island applications include three sites that have been reserved for government basement stratigraphic drilling in 2020, and five applications surround or immediately adjoin those of Newcrest Mining.

Subject to normal approval procedures, Middle Island’s awarded super-project blocks collectively comprise 10 applications covering 3,253sqkm, extending semi-continuously for over 350km along the axis of the East Tennant ridge from Tennant Creek east to the Queensland border.

Competing applications with Rio Tinto (in the Tennant Creek area) and Newcrest Mining (in the Barkly moratorium area) gave the applications a ringing endorsement of the project’s technical merit and strategy.

Middle Island believes the project represents a low entry cost and low initial exploration cost opportunity for the company to identify high value, Tier 1 IOCG targets of interest to major and mid-tier resources companies.

“We are extremely pleased with the outcome of what appears to have been a very equitable process involving the allocation of various competing exploration licence applications within the now former Barkly moratorium area,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Middle Island has secured priority areas and targets in several cases, and the allocated areas also include or immediately adjoin three sites planned for much anticipated government stratigraphic basement drilling during 2020.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au