Gateway Mining Increases Gidgee Gold Project Tenure

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THE BOURSE WHISPERER: Gateway Mining (ASX: GML) announced it has doubled the size of the company’s Gidgee gold project in Western Australia.

Gateway Mining has secured additional prospective tenements covering total area of 262 square kilometres to the north of the Gidgee gold project, taking it to 480sqkm.

The company explained the new tenements were acquired via low-cost acquisition agreements, a strategic Joint Venture and new Exploration Licence Applications.

The expansion follows recent exploration breakthroughs Gateway has made at Gidgee that include a detailed gravity survey, re-processing of airborne magnetic data and drilling.

The new ground includes a range of prospective targets ranging from prospects with similarities to the Montague Granodiorite, to Kanowna Belle and Wallaby-type targets.

Gateway signalled its intentions are to plan systematic exploration programs across the new tenement areas as part of an expanded, multi-pronged exploration push, subject to grant of tenure.

“We have been building our belief that the Gidgee gold project is located within a major mineralised corridor that really hasn’t been viewed in this way previously,” Gateway Mining managing director Peter Langworthy said in the company’s announcement to the Australian Securities Exchange.

“There has been a lack of a systematic exploration and the fact that the majority of the trend is covered by transported cover means historically the prospectors have not identified any mineralisation.

“We have now invested in collecting and re-processing key geophysical, geochemical and drilling datasets, which has resulted in identifying areas we think have a lot of potential in the medium to long term.

“The transactions we have completed to consolidate this new ground has been done at low cost, but at the same time provides upside to our new project partners in the event of a significant discovery.”

 

Web: www.gatewaymining.com.au

 

Corazon Mining Intersects Strong Nickel-Copper Sulphide Mineralisation at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) received preliminary results from the first three holes completed in the current phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide Mining Centre in Canada.

Corazon Mining said the preliminary results were highly positive with all three holes intersecting strong sulphide mineralisation, including a broad zone of more than 35 metres of strong sulphide mineralisation (between 7 metres to 42 metres downhole) in hole 7.

The three completed holes (holes 5, 6, 7) have been drilled for a total of approximately 356 metres, targeting areas around the A Orebody that had previously been covered by infrastructure from the A-Shaft and processing plant area within the historical Lynn Lake Mining Centre.

Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the project’s already large resource base.

Approximately 1,200 metres of diamond core drilling are planned for the current program, which is expected to be completed in the current month.

Hole #5 intersected at least five metres of good sulphide mineralisation, before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope.

Hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.

Hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole.

“Corazon’s recent mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below surface,” Corazon Mining said in its ASX announcement.

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

“These areas are the initial focus for the current drilling program.”

In addition to testing the historical mining areas, Corazon has also defined several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits within the Lynn Lake Mining Centre, which the company considers to represent further resource upside potential.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Cassini Resources Shuffles Boardroom Seating Plan

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THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced the appointment of Ms. Sze Man Suen (Simone) to the Board of the company as a non-executive director.

Simone is a highly credentialed company director with a Bachelor of Business and over 20 years’ experience predominantly in the resources industry in Australia and internationally.

She held the position of executive director between 2010 and 2018 at Alliance Mineral Assets Limited where she procured, mobilised and organised staff and resources for the development, commissioning and operations of the Bald Hill tantalum/lithium project in Western Australia.

In order to manage the size of the board, Greg Miles has resigned from his position as an executive director to be appointed as chief operating officer.

Cassini explained that Miles’ day to day role will not change within the company, as he steers the company’s technical and operations team, working closely with Joint Venture partner OZ Minerals, to deliver a Pre-Feasibility Study at the West Musgrave Project.

“Simone’s appointment to the board of Cassini is perfectly timed ahead of a defining year for the company,” Cassini Resources chairman Mike Young said in the company’s announcement to the Australian Securities Exchange.

“As we prepare for the delivery of the Nebo-Babel Pre-Feasibility Study, Australia’s largest copper-nickel development project, Simone’s experience will broaden the company’s expertise and assist the company transition to the next phase of its life.

“As a substantial shareholder, Simone is strongly aligned with the company’s direction and will assist with developing stronger relationships with a number of Cassini’s key shareholders and extend our reach into new investor markets.”

 

Email: admin@cassiniresources.com.au

Web: www.cassiniresources.com.au

 

Gateway Mining Hits Strong Zones of Shallow Oxide Gold at Achilles Prospect

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THE DRILL SERGEANT: Gateway Mining (ASX: GML) claimed to have defined a sieable zone of shallow oxide gold mineralisation over a strike length of at least 400 metres at the Achilles prospect, part of the company’s 100 per cent-owned Gidgee gold project in Western Australia.

Gateway Mining made the claim on the back of Reverse Circulation (RC) drilling results from the Achilles prospect, which it said had marked a strong start to its recently completed 11,000m RC drilling program.

Results include:

GRC446
21 metres at 2.1 grams per tonne gold from 32m, including 7m at 5.2g/t gold;

GRC447
13m at 3.4g/t gold from 5m, including 3m at 12.5g/t gold;

GRC430
11m at 3g/t gold from 32m;

GRC432
7m at 2.2g/t gold from 60m;

GRC435
6m at 3.8g/t gold from 17m;

GRC437
10m at 3.8g/t gold from 31m;

GRC443
6m at 2.1g/t gold from 22m; and

GRC426
19m at 1.3g/t gold from 29m.

The company said a substantial number of assay results remain outstanding from the program, and are expected to be progressively received and reported over the coming weeks.

“This program of RC drilling is a great starting point for our evaluation of the Achilles prospect,” Gateway Mining managing director Peter Langworthy said in the company’s announcement to the Australian Securities Exchange.

“We have already defined a significant zone of near-surface mineralisation over a strike length of at least 400 metres, including a large component of oxide and transitional mineralisation, and we have significantly improved our understanding of the key controls on the mineralisation which can be applied in a wider context.

“Ultimately though we see the Achilles area as part of a major gold system that requires ongoing systematic programs of exploration.

“Our growing understanding of the controls on the gold mineralisation, combined with the quality of our datasets we now have available to us, means that we are now moving a lot closer towards unlocking the broader potential of this hugely prospective but remarkably under-explored project.

“All of the evidence we are accumulating is pointing towards the potential for a very large gold system on these tenements, and we feel that we are now getting a lot closer to pin-pointing its overall dimensions and identifying the areas of significant economic interest.”

 

Web: www.gatewaymining.com.au

 

Barra Resources Enhances Burbanks Mining Opportunity

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THE DRILL SERGEANT: Barra Resources (ASX: BAR) recently completed the latest phase of a Reverse Circulation (RC) drilling program at the company’s Burbanks project, south of Coolgardie in Western Australia.

Barra Resources conducted the recent 24 RC drill hole program at Main Lode to follow up drilling completed in 2017 and 2018 and an inaugural Mineral Resource Estimate for Main Lode of 29,900 ounces at 2.59 grams per tonne gold.

The company explained the program had two main objectives: Firstly, to extend the existing Mineral Resource between the historic Main Lode and Birthday Gift gold mines from its current depth of 100 metres below surface to 200m below surface; and

Secondly, to extend the strike of the Main Lode system by targeting the gap between Main Lode and the Burbanks North deposit and, if successful and continuity can be demonstrated, a continuous 3.5 kilometres of mineralised strike length along the Burbanks Shear Zone.

Best results included:

BBRC299
3m at 24.69 grams per tonne gold from 167m down-hole;

BBRC303
8m at 4.1g/t gold from 159m down-hole;

BBRC300
2m at 16.3g/t gold from 173m down-hole;

BBRC292
3m at 5.38g/t gold from 185m down-hole; and

BBRC294
4m at 2.58g/t gold from 168m down-hole.

“The proximity of these high-grade results to mineralisation identified for mining in our recent scoping study raises their significance and enhances the mining opportunity available at Burbanks,” Barra Resources managing director and CEO Sean Gregory said in the company’s announcement to the Australian Securities Exchange.

“The additional discovery of a new mineralised position below a hitherto unrecognised fault, represents a new exploration focus and obvious drill target going forward.”

 

Email: info@barraresources.com.au

Web: www.barraresources.com.au

 

Venture Minerals Scores Tasmanian Government Co-Funding to Drill Mt Lindsay EM Targets

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has secured 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 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 recognised as 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 363,500t in 2018).

Venture explained the Renison-style target is 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,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“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.

“Tin and tungsten are globally classified as critical minerals.

“Recently 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.”

 

Email: info@ventureminerals.com.au

Web: www.ventureminerals.com.au

 

Saturn Metals Extends Apollo Hill Mineralisation

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) released results from a reverse circulation (RC) drilling program recently completed at the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian goldfields.

Saturn Metals completed the Apollo Hill program as part of its efforts to rapidly expand the newly discovered high-grade hanging wall zones and to grow the project’s recently upgraded 781,000 ounce Mineral Resource.

The company claimed the drilling successfully extended mineralisation in multiple directions.

Results include:

AHRC0297
5 metres at 4.7 grams per tonne gold from 126m;

AHRC0281
6m at 4.08g/t gold from 108m within 55m at 0.62g/t gold from 92m;

AHRC0291
14m at 1.4g/t gold from 133m;

AHRC0296
14m at 1.21g/t gold from 12m within 28m at 0.9g/t gold;

AHRC0292
8m at 1.7g/t gold from 33m within 21m at 0.72g/t gold from 33m;

AHRC0287
6m at 2.2g/t gold from 129m within 19m at 0.91g/t gold from 116m;

“Results continue to show the potential for significant resource growth immediately adjacent to Apollo Hill in the higher-grade hanging-wall zones, while a widening mineralised corridor may provide multiple opportunities for additional discovery,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improving mineralisation in other areas such as the Ra area is a bonus.

“Importantly, we look forward to results from our recently completed deeper step out holes which have been drilled to test for mineralisation down dip of both the northern and southern higher-grade hanging-wall zones.

“A second 10,000 metre extensional RC phase is planned to commence in early January 2020.”

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Neometals Drills Mt Edwards Nickel Results

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THE DRILL SERGEANT: Neometals (ASX: NMT) has been encouraged by assay results from reverse circulation (RC) drilling at the Mt Edwards nickel project near Kalgoorlie in Western Australia.

Neometals completed drilling, sampling and down-hole electromagnetic (DHEM) surveys conducted across the Widgie 3 and Gillett deposits and the Widgie 3 North, Rhona and Widgie 3 South prospects.

These deposits and prospects, including Widgie Townsite, are collectively known as the Widgie South Trend and are located on Mining Lease M15/94 south of the community of Widgiemooltha.

In addition, further drilling was carried out at the Lake Eaton prospect on Exploration Licence E15/989.

Drill assay results include:

16 metres at 1.45 per cent nickel, including 2m at 4.79 per cent and 5m at 1.81 per cent nickel;
21m at 1.05 per cent nickel, including 4m at 2.42 per cent nickel; and
7m at 1.37 per cent nickel, including 3m at 2.39 per cent nickel.

“Neometals is progressively increasing the quantity and quality of its Mt Edwards Nickel Mineral Resources and improving the geological understanding with modern geophysics,” Neometals said in its ASX announcement.

“The company is very pleased with the outcomes of this exploration program, which represents the first drilling for nickel at the Widgie South Trend since April 2008.

“The four kilometres long Widgie South Trend zone, with its three Mineral Resources, contains an estimated 67,000 tonnes of nickel, in a pro-mining jurisdiction located near major road, rail and energy infrastructure in a world class nickel camp.”

In addition to the positive assay results, Neometals indicated it has conducted also DHEM surveys on all 13 drill holes completed at the Widgie South Trend which show several conductors considered to be strong targets for nickel sulphide mineralisation.

Further DHEM surveys are currently being conducted on historic drill holes across the Widgie South Trend to generate further drill targets.

 

Email: info@neometals.com.au

Web: www.neometals.com.au

 

Renascor Resources Granted Production of Large-Scale Siviour Marketing Samples

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THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) has received approval from the South Australia Government’s Department for Energy and Mining (DEM) to extract a 60 tonne bulk sample from the company’s 100 per cent-owned Siviour graphite project on Eyre Peninsula.

Renascor Resources said the ore extracted from the bulk sample will be used in a pilot plant production trial in China and will provide large-scale marketing samples to permit potential end-users and strategic partners to conduct advanced testing and qualification.

“Since the completion of the Siviour Definitive Feasibility Study last month, we have received positive feedback from potential off-take and strategic partners who are seeking a secure, long-term supply of graphite to cover projected shortages in graphite supply as lithium-ion battery anode demand for graphite continues to grow,” Renascor Resources managing director David Christensen said in the company’s announcement to the Australian Securities Exchange.

“With this approval granted, we will now be able to supplement previously provided samples of Siviour graphite with large-scale quantities as we seek binding offtake agreements to permit us to finance the construction of the mine and processing plant at Siviour.”

Renascor submitted a Program for Environment Protection and Rehabilitation (PEPR) to the DEM earlier this year to extract a 60 tonne bulk sample from Siviour, which has now been approved application permitting Renascor to commence collection of the bulk sample.

Renascor previously conducted pilot testing on an 18 tonnes sample of Siviour ore to confirm grade, recovery and other flowsheet parameters used in the Siviour Definitive Feasibility Study.

Graphite concentrates produced from that trial were used for initial customer testing, as well as downstream spherical graphite testing.

The company indicated the graphite concentrates to be produced from this latest bulk sample and processing program will permit the production of large-scale marketing samples that will supplement the previously provided smaller-scale marketing samples.

This will permit potential end-users to undertake more advanced testing and qualification of Siviour graphite.

 

Email: info@renascor.com.au

Web: www.renascor.com.au

 

Perseus Mining Signs Yaouré Mining Convention

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THE BOURSE WHSIPERER: Perseus Mining (ASX: PRU) announced that a Mining Convention has been executed in the city of Abidjan, Côte d’Ivoire by representatives of the State of Côte d’Ivoire and Perseus’s Ivorian subsidiary, Perseus Mining Yaouré SA.

Perseus Mining explained the Convention provides a guarantee of fiscal stability and sets out a range of other rights and obligations that will apply to the company during the life of its Yaouré gold mine located in central Côte d’Ivoire.

“The signing of the Yaouré Mining Convention is a major milestone on the path to bringing the Yaouré gold mine into production,” Perseus Mining managing director and CEO Jeff Quartermaine said in the company’s announcement to the Australian Securities Exchange.

“With the document now signed, we can move forward with confidence in the knowledge that the fiscal laws on which our decision to develop the mine was based, will not change during the life of the mine.”

Construction of the Yaouré gold mine is being completed at a total cost of US$265 million.

Development work started in June 2019 and is progressing on schedule and on budget with first gold is expected to be poured in December 2020, one month ahead of the currently contracted completion date.

When commissioned, Yaouré will become Perseus’s third gold mining operation, joining the Sissingué gold mine, also in Côte d’Ivoire, and the Edikan gold mine located in Ghana, in Perseus’s multi-mine, geopolitically diverse portfolio of mines.

“At this stage, an open pit mine with an expected mine life of 8.5 years has been defined at Yaouré, however, it is considered likely that the life of the mine will be extended well beyond this limit as the very considerable mineral potential of the tenements on which the mine is located, is progressively unlocked,” Quartermaine continued.

“In this regard, work has begun on delineating Mineral Resources that can be mined using underground mining techniques and at this stage the results of this work are encouraging.

“Yaouré will be Perseus’s third gold mine and our second gold mine in Côte d’Ivoire.

“When Yaouré is fully operational, Perseus will be producing in excess of 500,000 ounces of gold per year.

“The average all-in site cost of producing gold at Yaouré over the first five years of the mine is forecast to be US$734 per ounce, meaning that if gold prices are maintained at current levels, then very strong cashflows will be generated and available for funding benefits for our stakeholders.”

 

Email: info@perseusmining.com

Web: www.perseusmining.com