Corazon Mining Encounters High-Grades Near Surface at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has started 2020 on a positive note with the release of the first assay results from its latest phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining reported partial results from the first two holes (LL2019-01 and LL2019-02) of a recently completed seven-hole diamond core drilling program that have returned exceptional, broad, near-surface high-grade mineralisation.

The company indicated that further assay results from these holes and the remaining holes in the program will be released as they become available.

Hole LL201902 intersected a high-grade interval of:

21.05 metres at 2.47 per cent nickel, 0.66 per cent copper, 0.07 per cent cobalt, within a broader zone of mineralisation, including 37m at 1.71 per cent nickel, 0.68 per cent copper, 0.05 per cent cobalt, from just 10 metres down hole.

The mineralised interval ended in grade (at 47 metres down-hole), with further assays pending.

Hole LL2019-01 returned good marginal-grade material with:

7m at 0.62 per cent nickel, 0.37 per cent copper, 0.02 per cent cobalt, west of the main zone being targeted by LL2019-02.

The drilling of LL2019-01 and LL2019-02 targeted areas around the A Orebody, historically covered with infrastructure from the A-Shaft and processing plant area within the Lynn Lake Mining Centre.

The area being targeted with drilling at the A Orebody is approximately 80 metres by 220 metres, surrounding previously mined high-grade massive sulphide (stoped to surface and backfilled).

The mined massive sulphide mineralisation at the A Orebody is described as ‘pipe-like’ with dimensions of approximately 40 metres by 120 metres.

“The company’s recent exploration work at Lynn Lake focused on defining additional areas of mineralisation with the potential to add to the project’s significant existing resource base,” Corazon Mining said in its ASX announcement.

“Corazon’s recent mining studies at Lynn Lake predominantly centred on nickel deposits at depths of more than 400 metres below surface.

“This work has highlighted the potential to define additional resources closer to the surface adjacent to Lynn Lake’s historically mined areas.

“The initial testing of these areas was the focus for the recent drilling program.”

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

THE DAILY ROADHOUSE

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NTM Gold Encounters Further High-Grades to Increase Hub Strike

THE DRILL SERGEANT: NTM Gold (ASX: NTM) increased the mineralised strike at the Hub prospect within the company’s 100 per cent-owned Redcliffe gold project near Leonora in Western Australia.

Middle Island Kicks Off Major Sandstone Drilling Campaign

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has commenced the first in a planned series of drilling programs to be undertaken at the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Matsa Resources Releases Final Red October First Round Drill Results

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced results from the final three holes of grade-control drilling undertaken at the company’s Red October gold mine in the Eastern Goldfields of Western Australia.

Galan Lithium Returns ‘Remarkable’ Lithium Results From Hombre Muerto

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) added to previous news with the announcement of another exceptional lithium assay result from the company’s Hombre Muerto lithium brine project in Argentina.

 

NTM Gold Encounters Further High-Grades to Increase Hub Strike

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THE DRILL SERGEANT: NTM Gold (ASX: NTM) increased the mineralised strike at the Hub prospect within the company’s 100 per cent-owned Redcliffe gold project near Leonora in Western Australia.

NTM Resources reported that drilling at Hub has confirmed grade continuity, particularly in the central part of the prospect, giving confidence to the robustness of the gold mineralisation.

The drilling also encountered mineralisation over 200 metres south of the previous southernmost intercept, extending the strike of Hub to over 1,350m.

The drilling was completed just before Christmas, testing northern and southern extensions as well as shallow grade continuity, consisting 31 RC holes and six diamond tails.

Five metre composites from the first eight holes (19RRC079 – 086) that returned exceptional grades close to surface were resampled on one-metre intervals with results confirming the tenor of the previously grades and widths.

Five metre composite samples from the remaining RC holes (19RRC087 – 110) have now been received by the company, returning a large number of high-grade results.

Of note, the diamond drilling intersected high-grade mineralisation at depth.

Diamond and RC drilling returned numerous high-grade intersections, including:

10 metres at 6 grams per tonne gold from 85m, including 5m at 9.2g/t gold (RC 5m composite);
4.1m at 8.4g/t gold from 186.4m (Diamond); and
6m at 5.1g/t gold from 323.5m, including 1m at 11.5g/t gold (Diamond).

One-metre RC resamples confirmed outstanding shallow grades and widths including:

9m at 12.5g/t gold from 33m, including 2m at 29.6g/t gold;
12m at 6.8g/t gold from 25m, including 2m at 20.7g/t gold; and
9m at 8.9g/t gold from 24m, including 2m at 14.1g/t gold.

The Hub prospect strike was extended to over 1,350m with results on southernmost RC line of:

5m at 5g/t gold from surface (RC 5m composite); and
5m at 2.1g/t gold from 65m (RC 5m composite).

“These latest results continue to demonstrate the potential of Hub with exceptional grades close to surface and a strike of over 1.3 kilometres,” NTM Gold managing director Andrew Muir said in the company’s announcement to the Australian Securities Exchange.

“Hub continues to grow with each drill program and we look forward to ongoing testing with drilling to recommence in coming weeks.”

 

Web: www.ntmgold.com.au

 

Middle Island Kicks Off Major Sandstone Drilling Campaign

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has commenced the first in a planned series of drilling programs to be undertaken at the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Middle Island Resources explained the drilling will collectively comprise a major exploration and resource definition drilling campaign at the Sandstone gold project and will target around 17 identified prospects and deposits within the company’s existing Sandstone tenure.

The primary objective of the drilling campaign is to confirm (and/or identify) and quantify additional open pit gold deposits and deposit extensions to supplement existing Mineral Resources prior to completing, in the June quarter, an update of the pre-feasibility study (PFS) commenced in the December quarter of 2019.

The 17 identified open pit gold targets and deposit extensions have been prioritised following a detailed internal and external technical review with the majority located on existing permitted tenure (M57/128 & M57/129) and all within five kilometres of the company’s 600,000 tonnes per annum gold processing plant.

“Commencing 2020 with around $2.8 million in cash, either at bank or fully underwritten, provides a rare opportunity to realise a long-held ambition to deploy significant drilling metres across a multitude of targets that have remained untested (or poorly tested) due to previous financial constraints,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“The planned multi-phase drilling campaign has the potential to add significant open pit Mineral Resources to the Sandstone gold project.

“With the Australian dollar gold price near record levels, any additional Mineral Resources identified during the drilling campaign should significantly enhance the outcome of the updated PFS, which is planned to recommence in the June quarter of 2020, hopefully leading to a positive recommissioning decision once completed.

“Middle Island Directors acknowledge Mr Stephen Copulos and his associates for their vision in identifying, not only the more immediate gold production scenario, but endorsing a broader vision to create a significant regional gold processing hub, centred on Middle Island’s Sandstone processing plant, via cornerstone investments in the recent and current capital raisings.

“By its very nature, results from initial AC drilling are unlikely to generate significant excitement, however it is reasonable to anticipate more significant results from the subsequent Phase 1 RC drilling program.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Matsa Resources Releases Final Red October First Round Drill Results

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced results from the final three holes of grade-control drilling undertaken at the company’s Red October gold mine in the Eastern Goldfields of Western Australia.

Matsa Resources completed 11 underground diamond drill holes, focussing on extensions in the main mining area (ROSZ North), from which it achieved impressive gold assays the company claims to confirm the high-grade potential of the Red October gold mine.

Gold intercepts received for new zones from the final three holes of the grade-control drilling program at the Red October gold project include:

0.6 metres at 70.6 grams per tonne gold;
0.98m at 14.88g/t gold; and
1m at 14.6g/t gold.

Further strong results were achieved from the Red October Shear Zone (ROSZ) including:

2.1m at 4.24g/t gold.

“The discovery of new high-grade lodes which are not reflected in the June 2016 Resource model is significant,” Matsa Resources said in its ASX announcement.

“The high-grade lodes indicate the strong potential for more ore-bearing structures to be discovered to the north by further drilling.

“These new lodes will be prioritised for further evaluation as new opportunities outside of the known lode system.”

 

Email: reception@matsa.com.au

Web: www.matsa.com.au

 

Galan Lithium Returns ‘Remarkable’ Lithium Results From Hombre Muerto

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) added to previous news with the announcement of another exceptional lithium assay result from the company’s Hombre Muerto lithium brine project in Argentina.

The latest result came, once again, from the project’s Rana de Sal tenement.

Galan Lithium claimed the result confirms previous substantial intercepts in drill data of high-grade/low-impurity lithium bearing brines from the Western Tenement project areas.

The Rana de Sal license covers large alluvial fan areas covering part of the western margin of the Hombre Muerto salar.

Galan Lithium performed an airlift test, that provides an average grade for the drill hole, of 72 hours duration retrieving brine from between the intervals of 100 metres to 433 metres.

The air lift test sample returned 1,010 milligrams per litre (mg/l) lithium over an interval greater than 330m to confirm an outstanding grade average for drillhole RS-01-19 at Rana de Sal.

The results are the highest lithium grade reported by Galan on any drill hole at Hombre Muerto.

The company indicated its next phase of test work will be to more accurately determine the flow rates from the aquifer.

“We are delighted by these significant Rana de Sal results,” Galan Lithium managing director Juan Pablo Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“On the back of the recent Pata Pila testing, we are very excited as we are now thinking of a potential new project that could be as important as the Candelas project.

“The results will be reviewed by our team as part of our scoping and pre-feasibility studies shortly after the resource estimate for the Western Tenements is finalised.”

 

Web: www.galanlithium.com.au

 

THE DAILY ROADHOUSE

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Cassini Resources Discovers New Mineralised Prospect at Yarawindah

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) has been encouraged by early drilling results from the company’s 80 per cent-owned Yarawindah Brook project located northeast of Perth near New Norcia in Western Australia.

Saturn Metals Drills Major Step Out Result at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) released results from a Reverse Circulation (RC) drilling campaign undertaken at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Lithium Australia Patent Applications Published by WIPO

THE BOURSE WHISPERER: Lithium Australia has had two patent applications published by The International Bureau of the World Intellectual Property Organisation (WIPO).

Impact Minerals Identifies Porphyry Copper-Gold Prospects

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has identified four undrilled priority prospects for porphyry copper-gold deposits at the company’s 100 per cent-owned Commonwealth project in the copper-gold Lachlan Fold Belt in New South Wales.

 

Saturn Metals Drills Major Step Out Result at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) released results from a Reverse Circulation (RC) drilling campaign undertaken at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Saturn Metals carried out the drilling at Apollo Hill in December 2019 as part of the company’s efforts to rapidly expand and improve the newly discovered higher-grade hanging wall zones and to grow and improve the project’s current 24.5 million tonnes at 1 gram per tonne gold for 781,000 ounces of gold Mineral Resource.

The best results came in the form of high-grade, thick intersections from step out drill hole AHRC0312 and include:

12 metres at 9.98 grams per tonne gold from 269m;
36m at 1.32g/t gold from 183m, including 11m at 3.28g/t gold from 208m; and
13m at 1.2g/t gold from 301m, including 4m at 3.63g/t gold from 301m.

Saturn Metals described this as the best result it has achieved on the project to date, with excellent grade and thickness located in a highly favourable step out position relative to the existing resource and known mineralisation.

“These step change results have provided a key breakthrough in the development of the rapidly growing and improving Apollo Hill Gold system,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Drilling clearly shows the potential for a major resource improvement and expansion immediately adjacent to the initial Apollo Hill zone.

“A thick mineralised corridor is providing multiple opportunities for additional discovery with significantly improved grades now being intersected.

“Drilling has recommenced at Apollo Hill with two rigs currently on site.

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

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Lithium Australia Patent Applications Published by WIPO

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THE BOURSE WHISPERER: Lithium Australia has had two patent applications published by The International Bureau of the World Intellectual Property Organisation (WIPO).

The Lithium Australia patent applications are for the recovery of lithium phosphate from lithium-bearing silicates and solutions.

The company explained that publication is an important step towards obtaining a patent grant, which provides legal protection in international jurisdictions.

Production of lithium phosphate is a unit process common to Lithium Australia’s SiLeach® and LieNA® technologies, which potentially reduce the number of processing steps to produce battery cathode powders.

“The company has succeeded in developing technologies that improve the sustainability of, and reduce the environmental impacts associated with, the manufacture, use and disposal of lithium-ion batteries,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Importantly, these technologies can facilitate vertical integration within the battery supply chain, potentially reducing the number of process steps involved and lowering costs for consumers.

“The ability to integrate metal recovery from lithium-ion batteries and regenerate cathode materials represents a major advance for the battery industry as a whole.”

Lithium Australia has developed innovative processes for the recovery of lithium chemicals from lithium-bearing silicates and micas.

The company’s efforts have resulted in unit process enhancements that optimise the recovery of lithium from lowtenor solutions, while managing water-balance challenges, to produce lithium phosphate of a high quality.

The unit processes involved are the subject of the above-mentioned patent applications.

Lithium phosphate produced by way of the company’s proprietary processes meets the specification necessary for its use as feedstock in the production of lithium-ferrophosphate (LFP), a cathode precursor material in the manufacture of batteries for energy-storage system and transport applications.

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

Impact Minerals Identifies Porphyry Copper-Gold Prospects

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has identified four undrilled priority prospects for porphyry copper-gold deposits at the company’s 100 per cent-owned Commonwealth project in the copper-gold Lachlan Fold Belt in New South Wales.

Impact Minerals said the prospects had all been identified along trend from and close to the recent Boda discovery of Alkane Resources, where drilling is in progress.

The company claimed all four prospects have characteristics suggesting they are parts of large porphyry or other intrusive-related copper-gold systems.

The Boda South prospect is the company’s highest priority as it lies south of the Boda discovery hole along the same parent intrusion to the copper-gold mineralisation which extends at least 500 metres onto Impact’s ground.

The area is unexplored because of thin alluvial cover.

The Greenobbys prospect comprises a gold-silver-pathfinder metal quartz vein system associated with circular and linear magnetic anomalies and rock chip assays up to 9 grams per tonne gold and 215g/t silver.

The Apsley prospect has strong similarities to Boda and comprises numerous magnetic anomalies in the same aged rocks and with rock chip assays of up to 8.1 per cent copper and 13.1g/t silver.

The Spicers Creek prospect returned rock chip assays of up to 1.45g/t gold and 7.8 per cent copper.

“This new data has reinforced Impact’s belief that its tenements in the Lachlan Fold Belt are very prospective for the discovery of a major porphyry copper gold deposit,” Imapct Minerals said in its ASX announcement.

“Follow up field work has commenced this week on the four priority prospects with further more detailed field checking and rock chip sampling planned.

“The results of this work will be used to help prioritise targets for ground geophysics and drilling as soon as practicable.”

 

Email: info@impactminerals.com.au

Web: www.impactminerals.com.au