Bellevue Gold Drilling Results to Contribute to Resources Update

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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.

Bellevue Gold currently has eight diamond core rigs operating across both exploration and resource infill drilling at the project.

The company declared the recent results from all the resource domains currently targeted with infill drilling have confirmed robust underground mineable widths and grades of the lodes and excellent continuity to the plunging ore shoots.

The latest infill diamond drilling results include:

Viago Lode

DRDD240
4.7 metres at 32.7 grams per tonne gold from 600.7m;

DRDD236
3.2m at 20.8g/t gold from 585.8m; and

DRDD294
4.6m at 10.4g/t gold from 376.5m.

Tribune Lode

DRDD337
5.7m at 17.4g/t gold from 329.3m;

DRDD376
8.2m at 7.9g/t gold from 123.9m; and

DRDD382
2.9m at 36.5g/t gold from 137.4m.

Bellevue Lode

DRDD319
4.3m at 27.6g/t gold from 140.6m;

DRDD306
2.5m at 22.4g/t gold from 116.5m; and

DRDD355
2.4m at 22.8g/t gold from 418.6m and 1.5m at 16.3g/t gold.

Vlad Lode

DRDD349
1.9m at 23.1.4g/t gold from 224.7m;

DRDD350
2.9m at 15.3g/t gold from 184.2m; and

DRDD316
12.5m at 5.5g/t gold from 237m.

Bellevue Gold considers these results important because they strongly support the company’s geological model, which predicts gently-plunging high-grade shoots within the mineralised envelop.

This interpretation is consistent with shoots that were mined at Bellevue underground from 1986 – 1997, when the low prevailing gold price forced the operation to be closed.

The mine produced 800,000 ounces at around 15 grams per tonne in this time.

Bellevue’s independent JORC Inferred Resource currently stands at 1.8 million ounces at 11.1g/t gold.

The company is on track to publish its maiden Indicated Resource next quarter and mining studies are set to commence in the September quarter.

“These outstanding results continue to demonstrate the large potential of this asset,”: Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The grades are very high, the mineralisation is consistent and the geometry is in line with our model.

“These latest results will feed into our coming Indicated Resource estimate, which will go a long way to de-risking the project.

“Drilling is continuing at a frenetic pace with eight rigs operating and we are preparing to start mining studies in the next quarter.

“Everything we are seeing supports our view that Bellevue is set to become a significant WA gold producer with high grades and substantial growth potential.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

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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.

Antipa Minerals’ Citadel project sits 80 kilometes north of Newcrest’s Telfer gold‐copper‐silver mine and within five kilometres of Rio Tinto’s recent Winu copper‐gold deposit.

Exploration at Citadel is being fully funded by Rio Tinto Exploration Pty Limited pursuant to a Farm‐in and Joint Venture Agreement.

A 2019 Gradient Array Induced Polarisation survey undertaken at the Citadel project JV with Rio Tinto identified six new greenfield gold‐ copper targets that the JV proposes to be drill tested in 2020.

These new targets are all located within 30 to 40km of Rio Tinto’s Winu copper‐gold‐silver deposit within a similar geological setting.

Citadel currently hosts a global Mineral Resource of 63.8 million tonnes at 0.8 grams per tonne gold and 0.2 per cent copper for 1.6 million ounces of gold and 127,000 tonnes copper.

Results from an Airborne gravity survey over the Citadel project are expected to hit the Antipa desktop in March.

As for now, Rio Tinto is moving ahead with the next stage of the Citadel project earn‐in whereby it can increase its interest to 65 per cent by sole funding $14 million in exploration expenditure.

nder the terms of the Farm-in Agreement, Rio Tinto may spend an additional $14 million within five years to increase its interest in the Citadel JV from 51 per cent to 65 per cent.

Subject to Rio Tinto earning the 65 per cent interest in the JV and Antipa then electing not to contribute to expenditure to maintain its 35 per cent interest, Rio Tinto has the ability to increase its interest to 75 per cent by sole funding a further $35 million within a further three years with the total of Rio Tinto’s sole funding potentially being $60 million.

 

Web: www.antipaminerals.com.au

 

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

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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.

Alicanto Minerals is drilling at Wolf Mountain, targeting multiple large-scale, high-grade, copper-gold targets it had identified by Induced Polarisation (IP) chargeability and resistivity anomalies for potential disseminated and semimassive sulphide mineralisation.

The company’s earlier mapping and sampling activities identified numerous, sub-parallel lines of ancient shallow mine workings over more than a kilometre with rock chips up to 11.9 per cent copper and 2.9 grams per tonne gold at Wolf Mountain.

The company reported that the maiden drilling program has intersected more than 60 metres of disseminated chalcopyrite mineralisation from 54.25 to 117.5 metres down hole, ending in disseminated mineralisation.

“Alicanto is excited to announce that maiden diamond core drilling targeting multiple large-scale, high-grade copper-gold mineralisation at Wolf Mountain in Sweden has intersected at least 60 metres of disseminated sulphides of typically one to five per cent, including logged chalcopyrite and pyrite mineralisation and intense wall rock alteration in the first drill hole,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.

“Initial geophysical Induced Polarization surveying (IP) at the Wolf Mountain prospect last year identified multiple, large-scale anomalies that have never been drill tested prospective for high-grade copper-gold mineralisation.

“Previously mapped, mineralised trends with coincident high-grade rock-chips of up to 11.9 per cent copper at surface were highlighted by the survey but, excitingly, further large-scale targets were also been identified under thin glacial cover.

“This drilling represents the first of these exciting new targets to be tested.

“Drilling is interpreted by Alicanto geologists to have intersected the margins or ‘halo’ of what could be a large-scale mineralising system in the Wolf Mountain area.

“The rig has now been mobilised towards the interpreted geophysical higher intense anomaly of the system. Drill results will be anticipated over the coming weeks.”

 

Email: admin@alicantominerals.com.au

Web: www.alicantominerals.com.au

 

THE DAILY ROADHOUSE

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Musgrave Minerals More Than Doubles Lena Deposit Gold Resource

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported a substantial resource update at the company’s 100 per cent-owned Lena gold deposit on the company’s Cue gold project in the Murchison district of Western Australia.

Matador Mining Raises $5.2M to Support Cape Ray Scoping Study

THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) announced the raising of $5.2 million to support activities at the company’s Cape Ray gold project in Newfoundland, Canada.

 

Musgrave Minerals More Than Doubles Lena Deposit Gold Resource

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported a substantial resource update at the company’s 100 per cent-owned Lena gold deposit on the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals has increased the total Indicated and Inferred Mineral Resources for the Lena deposit taking it to 4.3 million tonnes at 2.3 grams per tonne gold for 325,000 ounces of contained gold.

To put things in perspective, since the previous Mineral Resource estimate that was achieved in July 2017, Musgrave Minerals has added 172,000 ounces of gold, increasing the Mineral Resources at Lena by 112 per cent and improving the overall grade of the deposit by 28 per cent to 2.3g/t gold.

The company explained the resource update incorporates the results of intensive reverse circulation (RC) and diamond drilling programs it has completed over the past six months.

The updated total Indicated and Inferred Mineral Resources for the Cue project, incorporating the Lena and Break of Day deposits and several smaller deposits, now stands at 6.45 million tonnes at 3g/t gold for 613,000 ounces of contained gold.

“We are continuing to make new discoveries and grow the existing 100 per cent-owned gold resources at Cue,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This latest update significantly grows the contained ounces in the Lena Resource and improves the overall grade of the deposit while also delivering a major uplift in the geological confidence by reducing the drill hole spacing of the near surface component and thus growing the Indicated Resource category.

“With drilling underway at the nearby high-grade Break of Day and Mainland-Consols deposits we are looking forward to more exciting results as the programs progress.”

Musgrave has executed an $18 million Earn-in and Exploration Joint venture with Evolution Mining (ASX: EVN) over the Lake Austin portion of the Cue project.

The Break of Day, Lena and Mainland areas are excluded from the Earn-in and Exploration Joint Venture with Evolution Mining.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

Matador Mining Raises $5.2M to Support Cape Ray Scoping Study

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THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) announced the raising of $5.2 million to support activities at the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining raised the cash by way of a private placement of shares to institutional, professional and sophisticated investors at a price of 20 cents per share.

“The placement includes participation by directors of the company, who subscribed for 1.35 million shares, the issue of which will be subject to the approval of Matador shareholders at the company’s next general meeting,” Matador Mining said in its ASX announcement.

The company indicated the proceeds will be put towards the completion of a Scoping Study, which is on schedule to be completed later this quarter, as well as the recommencement of exploration activities at the Cape Ray project.

The capital raising follows a recent increase to the Resource at the Cape Ray project.

The updated Mineral Resource currently stands at 16.7 million tonnes at 2.2 grams per tonne gold and 6.6g/t silver for 1.2 million ounces gold and 3.9 million ounces silver.

 

Web: www.matadormining.com.au

Impact Minerals Ramps Up NSW Exploration Focus

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) declared it would be picking up the exploration pace at the company’s Broken Hill and Commonwealth projects in New South Wales.

Impact Minerals said exploration at these sites is being invigorated under a new 2020 focus for the company underpinned by current record Platinum Group Metal (PGM) prices, palladium and rhodium in particular, and the recent Boda-Kaiser copper-gold discovery of Alkane Resources (ASX: ALK) near Dubbo.

The company explained its 2020 campaign will build on previous work by Impact and others in the Broken Hill area which resulted in the discovery of some the highest grades of all six Platinum Group Metals (PGM: platinum, palladium, rhodium, osmium, ruthenium, iridium) in Australia, together with exceptional nickel-copper grades along a 40 kilometres long belt southeast of Broken Hill.

Three key prospects for follow-up work including drilling, have been identified: these are Red Hill, Platinum Springs, and Little Broken Hill.

Across at Impact’s Commonwealth project, the company is waiting on assays from rock chip samples taken as follow-up to reconnaissance work on four key targets for porphyry copper-gold mineralisation along trend from and close to the Boda-Kaiser porphyry copper-gold discovery and where follow-up drilling by Alkane Resources is in progress.

Impact’s four targets are Boda South, Apsley, Spicers Creek and Greenobbys.

The company has also identified one new target area, Gladstone, along trend to the south of the prospects Bodangora and Lady Ilse, recently identified by Magmatic Resources (ASX: MAG).

“We are excited to be returning to explore at Broken Hill and Commonwealth where Impact has generated some highly prospective targets for currently high-priced precious metals and where followup work including extensive drilling, is required,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“The company is busy designing drill programs at Red Hill and other prospects at Broken Hill to follow-up the exceptional grades discovered in our earlier work there.

“This includes drilled grades of up to 250 grams per tonne or nearly nine ounces per tonne of palladium, together with very high-grades of platinum and even exceptional levels of the rare PGMs, rhodium, currently at US$9,500 per ounce, osmium, iridium and ruthenium.

“At Commonwealth, Impact has identified five targets close to the recent Boda-Kaiser discover with potential for porphyry copper-gold mineralisation.

“We are awaiting assays from rock chip samples to help prioritise follow-up work, which will include soil geochemistry surveys and ground geophysics to identify targets that will be drilled after Broken Hill.”

 

Email: info@impactminerals.com.au

Web: www.impactminerals.com.au

 

Golden Rim Extends Gold Lodes at Kouri Project

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THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) reported the latest drilling results from a major exploration campaign underway at the company’s Kouri gold project in Burkina Faso.

Mineral Resource extensional drilling on the Kogodou prospect has confirmed eastern strike extensions up to 350 metres for the multiple gold lodes that comprise the project’s 1.4 million ounce Mineral Resource.

Best of the latest gold intercepts include:

BADH014
15 metres at 1.2 grams per tonne gold from 7m, including 1m at 11.6g/t gold and a 1m artisanal mining cavity; and

GDH004
8m at 2.2g/t gold from 106m, including 1m at 14.3g/t gold.

Golden Rim has assays pending for drill holes located up to 700m east of the Mineral Resource where it indicated it has observed strong, multiple zones of quartz – pyrite mineralisation, which is generally associated with gold at Kouri.

The company believes this suggests potential for further extensions to the gold lodes exists, adding that the results continue to confirm the potential for a major strike extension to the east of the Mineral Resource and into the Kogodou prospect where high-grade gold results have been obtained in rock chip sampling over multiple structures for approximately four kilometres.

Drilling is ongoing at the Kogodou prospect with a Mineral Resource update scheduled for the June 2020 quarter.

“At present, we are systematically stepping out to the east of the existing 1.4 million ounce Mineral Resource at Kouri, along a major cross-structure and completing fences of drill holes at 100 metre intervals,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.

“To date, we have drilled holes over 700 metres to the east of the Mineral Resource.

“The results so far have been impressive and we still have a further three kilometres along this cross-structure to explore.

“There are also an additional three cross-structures that we have identified to the east of the Mineral Resource that have returned high-grade gold in rock chip samples and which are yet to be drilled.

“We believe the potential to considerably expand the Mineral Resource at Kouri is huge.”

New infill drilling has also been carried out in the sparsely drilled northeast portion of the Mineral Resource that has confirmed the continuity of the gold lodes in this area.

Healthy intercepts have been encountered, including:

BADH015
6m at 1.9g/t gold from 0m, including 1m at 10.1g/t gold and 7m at 1.7g/t gold from 45m.

Elsewhere, regional drilling at Diabatou East, 9km northeast of the Mineral Resource, encountered a gold intercept of:

MRC025
2m at 5.7g/t gold from 114m.

This was achieved in the first drilling to test a 1.7km long IP chargeability anomaly highlighting the potential for the discovery of further mineralisation.

 

Email: info@goldenrim.com.au

Web: www.goldenrim.com.au

 

Ardiden Limited (ASX: ADV) Explorers 2020

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THE CONFERENCE CALLER: Ardiden has declared its main focus to be progressively building gold resources at the company’s 100 per cent-owned Pickle Lake gold project in Ontario, Canada.

In September 2019, Ardiden announced a maiden Inferred high-grade 790,000 tonnes at 4.3 grams per tonne gold for 110,000 ounces of gold Resource for the Kasagiminnis gold deposit.

The Kasagiminnis deposit represents only a small section (600m) of a potential 20 kilometres strike length at the Pickle Lake gold project.

Subject to necessary approvals, Ardiden plans to recommence drilling at Kasagiminnis in winter 2019/20 to extend this resource.

In November 2019, Ardiden finalised interpretation of an airborne geophysical survey at the West Pickle prospect.

The West Pickle gold prospect includes more than 5km of prospective geological setting directly along strike to the nearby Central Patricia underground mine, which produced more than 600,000 ounces of gold at 12.5g/t gold.

The survey identified several priority targets for gold mineralisation, which may have been a bit surprising for previous owners who gave the deposit very little historical exploration attention, despite its location directly along strike of the high-grade Central Patricia and Pickle Crow gold mining centres.

The geophysical survey undertaken by Ardiden highlighted hidden structural discontinuities and multiple possible conduits for hydrothermal fluids at West Pickle.

These included two large and highly conductive geophysical responses detected at West Pickle in proximity to iron formations.

This gave the company encouragement as strong conductors are typically associated with pyrrhotite and gold mineralisation along strike at the Central Patricia Mine.

The survey also highlighted multiple magnetic lows at West Pickle in prospective Iron Formations that again raised company eyebrows as magnetic lows can indicate that gold-mineralising fluids may have altered the rock.

The West Pickle property has been explored by previous owners, however these searches focused mainly on nickel and copper.

Ardiden’s recent airborne magnetic and EM survey discovered complex geological structures which will form the base of future gold exploration by the company on the West Pickle property.

Concurrent with the West Pickle survey, Ardiden reviewed the historical drilling data available at South Limb gold prospect located immediately south of the Dona Lake underground gold mine that is currently being assessed by TSX-V listed Metals Creek Resources.

Ardiden owns eight kilometres of favourable geological formation directly along strike from the Dona Lake mine.

From the historical data at South Limb, Ardiden has outlined multiple targets that may provide opportunities for similar deep mineralised gold systems.

Drill targets are planned in a fold nose near drill hole 172-007, which reported 7.8g/t gold from 8m.

Drill targets are also planned on the southern iron formation to test known sulphide mineralisation.

Ardiden recently expanded its landholding at Pickle Lake by signing an earn-in agreement with Exiro Minerals Corp over that company’s New Patricia gold prospect.

New Patricia extends over 30km of prospective geological setting directly along strike from the Golden Patricia gold mine that was previously operated by Barrick Gold.

It also adjoins Ardiden’s Dorothy-Dobie gold prospect.

By acquiring the New Patricia gold prospect Ardiden will effectively more than double the prospective ground position it controls in the area, taking it from 123 square kilometres to 257sqkm.

The earn-in agreement will result in Ardiden forming a contiguous belt of highly-prospective gold claims over a total width of 90km to form a dominant position in the Pickle Lake gold camp.

“Our collaboration with Exiro’s well-respected management team has been put together in the true spirit of exploration, where stakeholders are only significantly rewarded through smart exploration work and ultimately, discovery,” Ardiden CEO Rob Longley said.

“Exiro has invested significant time and applied expertise in identifying highly prospective segments of the Uchi Geological Subprovince.

“The New Patricia package fits perfectly within Ardiden’s existing 100 per cent-owned holding and gold aggregation strategy.

“We look forward to a productive collaboration with Exiro in the region for the benefit of our respective shareholders.”

During 2019/20, Ardiden aims to build on the Resource at Kasagiminnis with further drilling as well as exploration activities at the West Pickle, South Limb and Dorothy-Dobie prospects planned.

Ardiden also wholly-owns the Seymour Lake lithium project in Ontario that has a Mineral Resource Estimate of 4.8 million tonnes at 1.25 per cent lithium oxide and 186ppm tantalum pentoxide.,

Ardiden has made it known that it is looking for a partner or alliance to draw value from the Seymour Lake project, as well as its other lithium interests in Ontario including the Root Lake and Wisa Lake lithium projects.

 

Email: info@ardiden.com.au
Web: www.ardidien.com.au
Directors: Neil Hackett, Dr Michelle Li, Pauline Gately, Rob Longley

 

Venture Minerals (ASX: VMS) Explorers 2020

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THE CONFERENCE CALLER: There has been plenty of action at Venture Minerals’ 100 per cent-owned Riley DSO iron ore mine in Tasmania as the company made serious moves to cash in on the current high demand and price for iron ore.

Venture completed an updated Riley Iron Ore Mining Study with an associated Pre-Feasibility Study (PFS) that demonstrated strong returns from a low capex two-year project, the company believes to be well positioned to capture the current higher iron ore price environment.

In addition to completing the study, having previously signed a Binding Terms Sheet for the Riley Iron Ore Mine off-take with Prosperity Steel, Venture signed a full off-take agreement for the Riley product for 100 per cent of the first two years of iron ore production.

“The Riley Iron Ore Mining Study demonstrates the delivery of an exceptional Internal Rate of Return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production,” Venture Minerals managing director Andrew Radonjic said.

The Riley DSO project is located 10km from the Mt Lindsay tin-tungsten deposit.

The Mt Lindsay project covers 148 square kilometres in north-western Tasmania within the contact metamorphic aureole of the highly perspective Meredith Granite.

The project sits between the world class Renison Bell Tin Mine (Metals X Ltd/Yunnan Tin Group where more than 231,000 tonnes of tin metal has been produced since 1968) and the Savage River Magnetite Mine (operating for around 45 years, currently producing approximately 2.5 million tonnes per annum of iron pellets).

Venture Minerals was able to secure co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020.

Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving for co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project.

The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets.

The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey.

Venture claims Mount Lindsay as being one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.

Tin is now a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500 tonnes in 2018).

Venture has demonstrated the Renison-style target to be a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine.

“The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Radonjic said.

“With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project.

“The Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high-tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech.

“Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.”

The company also has projects in Western Australia at the Thor prospect, the Pingaring project, the Odin prospect and the Caesar project.

Drilling at Thor intersected massive sulphides confirming a 20 kilometre VMS style system.

 

Email: info@ventureminerals.com.au
Web: www.ventureminerals.com.au
Directors: Mel Ashton, Hamish Halliday, Andrew Radonjic, John Jetter