THE DRILL SERGEANT: Matador Mining (ASX: MZZ) increased the Mineral Resource at the company’s Cape Ray gold project in Newfoundland, Canada.
THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) reported further results from a second drill program completed at the company’s 100 per cent-owned Pioneer Dome project in Western Australia.
THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) reported further results from a second drill program completed at the company’s 100 per cent-owned Pioneer Dome project in Western Australia.
Pioneer Resources focus for this round of drilling was the Dome North group of lithium prospects, where it previously discovered a suite of spodumene-bearing pegmatites.
Drilling consisted of a combination of resource drilling at the Cade Deposit and exploration drilling at five additional targets.
Of the five targets drill tested, two new mineralised pegmatites were intersected at the Davy and Cade South prospects.
Drilling at the Cade deposit encountered infill intersections within the Inferred Resource of 8.2 million tonnes at 1.23 per cent lithium oxide (Li2O), including:
PDRCD292
31.6 metres at 1.31 per cent Li2O from 72m;
PDRCD294
27.4m at 1.38 per cent Li2O from 131m;
PDRCD295
27.2m at 1.46 per cent Li2O from 209m, including 11m at 1.79 per cent Li2O;
PDRCD318
22.2m at 1.72 per cent Li2O from 128m;
PDRCD319
22.3m at 1.49 per cent Li2O from 199m.
At the Davy prospect a new zone of mineralisation was located approximately 1.4 kilometres west of the Cade deposit with results of:
PDRC325
9m at 1.31 per cent Li2O from 56m;
PDRC326
8m at 1.27 per cent Li2O from 26m;
PDRC324
22m at 1.44 per cent Li2O from 153m, including 10m at 1.75 per cent Li2O.
Pioneer believes the results highlight the potential to increase Mineral Resources in the Dome North Area, which are currently based only on the Cade deposit.
“In just two drilling programs we have demonstrated that the Dome North Area is highly prospective for spodumene mineralisation with excellent lithium grades and widths,” Pioneer Resources CEO Tim Spencer said in the company’s announcement to the Australian Securities Exchange.
“This represents a fantastic return for what was a modest but targeted drilling program undertaken prior to Christmas and there are clear opportunities to make further discoveries and increase Mineral Resources.
“We have appointed Primero to undertake first-pass metallurgical test work that will help us understand our options as we advance the project.
“The outcomes of that work along with further target identification will assist us in planning our next phase of drilling with a view to rapidly advancing what appears to be a substantial emerging lithium asset in a prime location in WA’s Eastern Goldfields.”
Email: pioneer@PIOresources.com.au
THE DRILL SERGEANT: Matador Mining (ASX: MZZ) increased the Mineral Resource at the company’s Cape Ray gold project in Newfoundland, Canada.
Matador Mining delivered the increase on the back of drilling carried out at Cape Ray during 2019.
The Resource at the Cape Ray project increased by 18 per cent, growing to 16.6 million tonnes at 2.2 grams per tonne gold and 7g/t silver for 1.2 million ounces of gold and 3.9 million ounces of silver.
Just over half of this resource, 55 per cent, is classified in the Indicated category (650,000 ounces of gold at 2.9g/t gold)
Matador explained its major focus for the 2019 exploration program was at the Window Glass Hill deposit (WGH), which grew by 71 per cent to 230,000 ounces of gold (previously 134,000 ounces of gold).
The grade at WGH also increased by 34 per cent to 1.6g/t gold (previously 1.2g/t gold).
Drilling, structural mapping and high-grade rock chips samples taken by Matador have identified priority targets for the company’s 2020 exploration program at WGH.
Matador indicated the updated Mineral Resource will underpin an upcoming Scoping Study, which is scheduled for release in late March.
“Following the completion of the largest drill program at Cape Ray in more than 30 years, we are pleased to report the resource has grown to 1.2 million ounces of gold and 3.9 million ounces of silver,” Matador Mining executive director Keith Bowes said in the company’s announcement to the Australian Securities Exchange.
“Importantly, this growth has not been to the detriment of the resource grade, as the total average grade remains at just over 2.2 grams per tonne gold.
“Notably, at Window Glass Hill, which saw the most significant growth in resource size, the grade of this deposit also increased significantly by approximately 34 per cent.
“Window Glass Hill is our second largest deposit and will be an important part of the development plans going forward.
“It is also very pleasing to note that the discovery costs at Window Glass Hill of US$5 per ounce were very low and exceeded our expectations.
“Overall, total discovery costs, which included all greenfield drilling, were also very competitive at just US$12 per ounce.
“In addition to the increased resource, our regional exploration program has identified additional targets.
“Regional exploration is expected to form a more significant part of future exploration at Cape Ray.”
Email: info@matadormining.com.au
THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) results for further rock chip samples and from geophysical data it collected as part of an ongoing exploration campaign at the company’s Kouri gold project in Burkina Faso.
THE BOURSE WHISPERER: Alicanto Minerals (ASX: AQI) exercised an option to acquire 100 per cent of shares in Zaffer (Australia) Pty Ltd.
THE DRILL SERGEANT: African Gold (ASX: A1G) recently completed a maiden drill program for the preliminary assessment of the Kirchon and Grand Filon prospects on the company’s Sitakili Permit in West Mali.
THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) results for further rock chip samples and from geophysical data it collected as part of an ongoing exploration campaign at the company’s Kouri gold project in Burkina Faso.
Golden Rim Resources obtained assays for the additional 289 rock chip samples collected from the Margou and Gouéli permits that demonstrated high-grade gold results continue to cluster at the Kogodou prospect, which extends directly east of the project’s current 1.4 million ounce gold Mineral Resource for over 3.8 kilometres.
The best new results at the Kogodou Prospect include:
32.3 grams per tonne gold;
29.2g/t gold;
22.4g/t gold;
14.5g/t gold; and
11.7g/t gold.
“Preliminary ground magnetic data from the recently completed geophysical survey suggests the stronger gold mineralisation at the Kogodou prospect may be associated with a series of four major east-west-trending cross-structures,” Golden Rim Resources said in its ASX announcement.
“Results continue to confirm the potential for a major strike extension to the Mineral Resource to the east and the exceptional prospectivity of the previously unexplored Margou and Gouéli permits.”
Golden Rim reported the program also returned high-grade rock chip samples in two new areas located to the northeast of the Mineral Resource.
The first area is located approximately 12.5km from the Mineral Resource and returned a peak assay of 13g/t gold.
This zone consists of two parallel lines, sitting about 50m apart, of artisanal workings that both extend for 250m.
The second new zone is located approximately 18km northeast of the Mineral Resource and returned a peak assay of 24.4g/t gold.
This area has not been covered by the company’s recent ground geophysical survey.
“Although high-grade gold in rock chip samples have been obtained throughout the Kogodou prospect, most of the area has received no geochemical testing due to the sparsity of outcropping rocks,” Golden Rim explaned.
“To better define target areas for follow-up RC drilling a program of auger drilling, on a 200 metres by 50 metres pattern, is currently underway at the Kogodou prospect.”
Web: www.goldenrim.com.au
THE BOURSE WHISPERER: Alicanto Minerals (ASX: AQI) exercised an option to acquire 100 per cent of shares in Zaffer (Australia) Pty Ltd.
Zaffer is the owner of the Oxberg and Naverberg VMS (Volcanogenic Massive Sulphide) projects within the highly endowed copper-gold-zinc-lead-silver Bergslagen Mining District of Southern Sweden where Alicanto has been undertaking exploration activities over the past six months.
This has consisted confirmation drilling on the Oxberg project that intersected high-grade copper, gold and zinc mineralisation beneath extensive surface anomalies, which remains open in all directions.
Extensive field mapping and surface geochemistry sampling defined both a new copper gold target and substantial extensions of base metal mineralisation confirming a +45km mineralised trend, which the company thinks deserves further exploration activity and maiden drill testing.
During this time, Alicanto acquired additional tenure consolidating the Oxberg-Naverberg-Wolf Mountain projects into a contiguous land package where it completed an initial IP (Induced Polarisation) geophysical survey highlighting a large-scale, undrilled copper-gold target, complemented by surface rock chip results.
At this stage, the Wolf Mountain prospect is undrilled and these newly identified IP anomalies represent high priority drill targets for the company.
The acquisition of the Oxberg and Naverberg project concessions will give Alicanto an aggregate 130 square kilometres holding on two major VMS horizons, including ownership of the historic Skyttgruvan mine and targets only five kilometres along strike from the historic Falun Mine.
The combined projects are located within the larger highly prospective Bergslagen District in Sweden, which is also host to the operating mines of Garpenberg and Zinkgruvan, operated by Boliden and Lundin respectively.
“We are very pleased to move ahead with the acquisition which is identified as an exciting district-scale project consisting of highly prospective and underexplored tenements within the prolific Bergslagen high-grade VMS district in Sweden,” Alicanto Minerals chairman Didier Murcia said in the company’s announcement to the Australian Securities Exchange.
“High-grade deposits such as Garpenberg, Zinkgruvan and Falun highlight the prospectivity of the region, and we look forward to exploring new targets at Oxberg and Naverberg.
“The Oxberg-Naverberg project and newly identified Wolf Mountain project were selected following a detailed review of the region, conducted by geologists with more than 25 years’ experience in the region, including multiple discoveries.
“The exploration potential, and results received to date, strongly support our decision to move forward in Sweden.”
Alicanto indicated it intends to immediately follow up the identification of multiple large-scale IP anomalies with initial drill testing over the next few months as well as completing maiden diamond drilling over the Oxberg and Naverberg target areas in the coming months.
Email: admin@alicantominerals.com.au
Web: www.alicantominerals.com.au
THE DRILL SERGEANT: African Gold (ASX: A1G) recently completed a maiden drill program for the preliminary assessment of the Kirchon and Grand Filon prospects on the company’s Sitakili Permit in West Mali.
African Gold outlined the objective of this program being to target systematically testing of a portion of what it considers to appear to be a very large system.
The drilling aimed to look beyond the obvious known gold lodes outcropping in artisanal workings dotting the landscape of the project, as well as defining areas of potential thicker and higher-grade shoots within these known lodes, broader disseminated zones and different orientations and structural styles to understand mineralisation.
The company declared the results to be extremely encouraging with all 16 holes returning shallow anomalous gold intercepts, including:
19SIR013
9 metres at 5.17 grams per tonne gold from 54m;
19SIRC006
3m at 3.07g/t gold from 40m and 2m at 4.71g/t gold from 59m;
19SIRC009
6m at 3.35g/t gold from 53m;
19SIRC010
6m at 5.8g/t gold from 126m and 3m at 2.34g/t gold from 117m; and
19SIRC011
6m at 1.97g/t gold from 42m.
Mineralisation remains open in all directions.
African Gold indicated it has follow up drilling in the pipeline at Sitakili that is expected to commence in the coming quarter.
A maiden shallow reconnaissance drilling program is also being undertaken at the nearby Bourdala, BouBou and Tintinba-Nord Permits, from which results are anticipated over the coming weeks.
“We are extremely encouraged by the multiple high-grade gold results from this initial drill program at our new Sitakili Permit in West Mali,” African Gold exploration manager and CEO Glen Edwards said in the company’s announcement to the Australian Securities Exchange.
“This region of the Kedougo-Kenieba Inlier is host to a number of world class gold mines and we are fortunate to have acquired a significant landholding in this highly sort after region.
“These first pass drill results point towards what could be a significant gold system with gold mineralisation open both along strike and down dip.
“We look forward to further results from our recent drilling and geochemical programs in the coming weeks and are already planning follow up drilling based on these results.”
Email: admin@african-gold.com
Web: www.african-gold.com
THE DRILL SERGEANT: Neometals (ASX: NMT) declared to encouraged by results from reverse circulation (RC) drilling at the company’s Mt Edwards nickel project in Western Australia.
Neometals reported the completion of drilling, sampling and down-hole electromagnetic (DHEM) surveys at the Armstrong deposit on Mining Lease M15/99, and on recently acquired Exploration Licence E15/1553 that is located less than two kilometres directly north and along strike from Mincor’s Resources Cassini Mineral Resource.
The drilling at Armstrong and the yet to be named exploration licence comprised 11 RC holes completed in November and December 2019 and included a sampling and assay program the company expects to enable results to be used in future Mineral Resource estimations.
Massive nickel sulphide intercepts were encountered on the Armstrong deposit, including:
6 metres at 8.11 per cent nickel, including 5m at 9.63 per cent nickel;
10m at 1.65 per cent nickel, including 4m at 2.42 per cent nickel; and
3m at 1.07 per cent nickel.
These intercepts were within wide mineralised zones of disseminated nickel with assays including:
34m at 1.94 per cent nickel; and
24m at 1.13 per cent nickel.
The drilling encountered 1m at 1.18 per cent nickel at newly acquired tenement.
“These strong results from Armstrong continue our success in identifying massive nickel sulphide mineralisation within our existing inventory,” Neometals managing director Chris Reed said in the company’s announcement to the Australian Securities Exchange.
“In preparation for a strengthening nickel market in the medium term, driven by increasing demand in the battery materials sector, Neometals will undertake mining studies and develop a pipeline of short lead time nickel sulphide resources.
“The successful discovery of nickel sulphide mineralisation along strike from Cassini just inside the boundary of a newly acquired tenement provides encouragement that our extensive tenement package around the Widgiemooltha Dome is one of the most prospective areas for greenfields nickel discoveries.”
Email: info@neometals.com.au
Web: www.neometals.com.au
THE DRILL SERGEANT: Breaker Resources (ASX: BRB) reported activities from early reconnaissance drilling underway across several areas at the company’s Lake Roe gold project east of Kalgoorlie in Western Australia.
Breaker Resources is undertaking the major drilling program at Lake Roe to systematically build on the current one-million-ounce Resource.
The company’s initial focus is on discovery and extension outside the shallow Resource envelope and to enhance its understanding of the geometry of the gold mineralisation over the full extent of an 8.5 kilometres-long greenfields gold system.
So far, the drilling has returned strong preliminary results from shallow, wide-spaced drilling across three new areas:
A high-grade intersection was encountered at Bombora South, establishing plus-400 metres-long zone of west-dipping gold mineralisation upgrading its potential to a large area.
This result was achieved from drill hole BBDD0087, returning:
3.22 metres at 11.22 grams per tonne gold
Drilling at the Claypan prospect, 1.3km southeast of the Bombora Resource, encountered bedrock (primary) gold results up to 4m at 2.72g/t gold, upgrading its potential to host a substantial new gold zone.
A new plus-400m-long zone of greater than 1g/t bedrock gold was identified by geochemical drilling at the recently named Kopai prospect, located 3km north of Bombora.
These results substantiate the potential of a 4km-long zone directly north of the Bombora Resource that includes the Crescent prospect.
Breaker indicated that RC and diamond drilling will shortly transition to Kopai/Crescent area while pending assay results from Claypan and Bombora South areas are assessed.
“A third (diamond) drill rig targeting the down-plunge depth extensions of the Tura, Daisy and Mindil lodes below the current Resource is planned to start in the coming fortnight,” Breaker Resources said in its ASX announcement.
“The initial hole will be a deep (approx. 1,200m) diamond drill hole at the southern end of the Bombora deposit.
“The drill hole is part of the Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme (EIS) co-funded drilling program.”
Email: breaker@breakerresources.com.au
Web: www.breakerresources.com.au
THE CONFERENCE CALLER: Blackstone Minerals took a lot of market pundits by surprise when it announced it was entering a binding term sheet for the exclusive option to acquire a 90 per cent interest in the Ta Khoa nickel project.
The Ta Khoa nickel project is located 160 kilometres west of Hanoi in the Son La Province of Vietnam and includes an existing modern nickel mine built to Australian Standards that was under care and maintenance.
The Ban Phuc nickel mine operated as a mechanised underground nickel mine from 2013 to 2016 and its previous owners invested more than US$136 million in capital and generated US$213 million in revenue during a 3.5-year period of falling nickel prices.
The project was placed into care and maintenance in mid-2016 during some of the lowest nickel prices in the past 10 years.
Existing infrastructure associated with the project includes an internationally-designed 450,000 tonne per annum processing plant connected to local hydro grid power with a fully-permitted tailings facility and a modern 250- person camp.
Blackstone Minerals had its eyes on the potential the project offers with the 150 square kilometre land package hosting more than 25 advanced stage massive sulphide vein (MSV) targets and many large disseminated sulphide (DSS) targets including the unmined Ban Phuc DSS.
Blackstone also signalled its interest in investigating 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.
“Blackstone will be the first company to explore Ta Khoa for both MSV and DSS nickel sulphide deposits all the while investigating downstream processing opportunities to meet the demands of the growing Asian lithium ion battery sector,” Blackstone Mineral managing director Scott Williamson said.
Blackstone wasted little time in getting the drills spinning on site at Ta Khoa and produced a steady stream of intersections of disseminated nickel sulphide.
The project also demonstrated potential for substantial platinum group element (PGE) credits with Blackstone becoming the first company to assay the Ban Phuc DSS for PGEs, which resulted in the recent uncovering of what the company considers as a previously unrecognised opportunity.
Previous operators focused on the Ban Phuc MSV, which has relatively low PGE grades, and hence did not consider or investigate the full potential of the PGEs throughout the Ta Khoa project.
Blackstone’s maiden PGE assays combined with the abundance of disseminated nickel sulphide targets, leading the company to think PGEs associated with disseminated nickel sulphide mineralisation could greatly improve the economics of the Ta Khoa nickel project.
Blackstone ended 2019 on a high by entering a memorandum of understanding (MoU) with Korea’s largest electric vehicle (EV) battery cathode manufacturer.
Blackstone inked a non-binding MoU with Ecopro BM Co Limited that outlines an alliance structure whereby Ecopro BM and Blackstone will work in partnership to develop a downstream processing facility in association with the company’s Ta Khoa nickel project in northern Vietnam.
The MoU is a boon for both entities in that Blackstone wishes to engage a development partner to provide funding to commercialise the Ta Khoa nickel project, while Ecopro BM has indicated its willingness to enter into an alliance with Blackstone with a view to formalising a Joint Venture on the downstream processing infrastructure project in association with the project.
The intention of the MOU is for the parties to enter into an alliance to form a JV with the intention to develop a suitable nickel, cobalt or other battery mineral product for lithium-ion battery manufacturing.
“Our Ta Khoa nickel project has significant potential to deliver the critical raw materials required for Ecopro’s cathode manufacturing process and meet the ever-increasing demand for high-nickel content cathodes driven by the imminent electric vehicle (EV) revolution,” Williamson said.
Blackstone is very keen to deliver a maiden resource on the disseminated sulphide (DSS) at Ban Phuc as it investigates the potential to restart the existing Ban Phuc concentrator through focused exploration on both massive sulphide veins (MSV) and DSS deposits.
The company commenced a scoping study on the downstream processing facility at Ta Khoa, the purpose of which is to provide detail for potential JV partners to formalise a binding agreement.
Blackstone also commenced metallurgical testing on the Ban Phuc DSS orebody with an aim to develop a flow sheet for a product suitable for the lithium ion battery industry.
In addition, Blackstone 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
Directors: Hamish Halliday, Scott Williamson, Andrew Radonjic, Steve Parsons
