Indiana Resources Kicks Off Mali Soil Sampling Program

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THE DRILL SERGEANT: Indiana Resources (ASX: IDA) announced the commencement of a comprehensive soil geochemistry program at the company’s Saboussire gold prospect in Western Mali.

Indiana Resources has an Earn-In Agreement in place, through its wholly-owned subsidiary Mukuyu Resources Limited, with FIMOCO SARL, under which Indiana has the option to acquire an eventual 85 per cent stake in Saboussire.

The Saboussire licence covers an area of 100 square kilometres of the Main Transcurrent Zone, immediately north of the Kossanto West license.

Indiana explained the Main Transcurrent Zone is interpreted to be one of the major structures which controls mineralisation in Western Mali and Eastern Senegal and is considered by the company to be an excellent geological and structural location, within the highly prospective Kenieba Inlier of Western Mali, which is known to host a number of multi-million ounce gold deposits, including the Loulou 12.5 million ounce deposit (Barrick Gold) and the Sabodala six million ounce deposit (Teranga Gold).

Indiana has designed the soil geochemistry program to test and extend existing Government soil sample anomalies on the licence, extend soil sampling from the adjacent Kossanto West licence and test the strike extent of a strong mineralised trend identified at Kossanto and further south at Koussikoto.

The program will focus on three high-priority zones on the Saboussire licence.

“Historically Saboussire has had very little modern and systematic exploration activities and this program represents the first phase of proposed activities for the licence,” Indiana Resources said in its ASX announcement.

“The soil geochemistry has been designed to test and extend existing Government soils sample anomalies on the licence and extend soil sampling from the adjacent Kossanto West licence.

“It is anticipated the soil geochemical program will take approximately two weeks to complete in the field.

“Future planned activities at Saboussire include rock chip sampling, and mapping of all outcrop and existing artisanal activity also during the current field season.”

 

Web: www.indianaresources.com.au

 

EMU Kicks Off Fully-Funded Exploration Program

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THE DRILL SERGEANT: EMU (ASX: EMU) commenced its 2019/2020 on-ground prospecting campaign at the company’s Elevado project in Maricunga, Chile in October.

EMU declared its intentions to continue to explore for gold and silver building on discoveries it has already claimed at the project.

The company indicated the prospecting program will cover previously identified prospects as well as other areas within the wider regional area of the Elevado project and are to include rock chip and soil sampling activities directed at developing drilling targets.

A program of diamond drilling is scheduled to commence at Elevado anon, which has been planned to include approximately 1800 metres of diamond drilling comprising four holes to test depth extensions of near-surface mineralisation, particularly around and below the recent ‘Discovery hole’ in Vidalita, and IP geophysical targets at NEPlains prospect.

EMU aims to complete the diamond drilling before Christmas and follow it, commencing January 2020, with approximately 6000m of aircore drilling at Vidalita and regional targets.

“EMU awarded preferred contractor status and is preparing the drilling contract with Synergy Drilling, a locally based, diamond drilling specialist, following a rigorous selection process,” the company said in its ASX announcement.

“Significantly, drilling activities at Elevado will be overseen and managed by an Australian drilling services contractor appointed by EMU for the duration of drilling.

“The contractor, who comes with excellent global experience and credentials has been endorsed by the Australian exploration drilling community.

“A key mandate for the appointment will be to guide the conversion of a suitable drill rig for the aircore phase of drilling.”

From September, EMU raised $5,265,313 that the company believes will ensure its 2019/20 program is fully funded.

 

Email: info@emunl.com.au

Web: www.emunl.com.au

 

Red 5 Continues Drilling Success at King of The Hills

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THE DRILL SERGEANT: Red 5 Limited (ASX: RED) declared a boost for its strategy to develop a stand-alone bulk mining operation at the company’s King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Red 5 reported the boost had come in the form of additional assay results from ongoing underground diamond drilling.

The company completed a 30,000-metre underground diamond drilling program between November 2018 and June 2019, designed to in-fill and extend the current KOTH Mineral Resource totalling 3.1 million ounces of contained gold.

A second and third underground rig commenced on site during the September 2019 Quarter to continue the Resource development program and target the potential for further mineralisation.

These additional rigs brought the company’s expected total underground drilling for FY2020 to 85,000 metres with the program aimed at converting as much of the existing underground Resource into Reserves as possible for the Final Feasibility Study, due in the September 2020 Quarter.

The drilling was also charged with the reassessment of the final pit shape to determine whether more of the underground could be included in the pit due to grade uplift in both the South and North, and extension of the underground Resource along strike and down dip.

The latest results Red 5 has achieved include broad ‘whole-of-hole’ intercepts including:

107.1 metres at 2 grams per tonne gold and 61m at 4.8g/t gold.

High-grade assays were also received, including:

47.9m at 4.1g/t gold and 11.2m at 22.5g/t gold.

The company said the ongoing in-fill drilling continues to reinforce the continuity and tenor of stockwork development at the King of the Hills (KOTH) gold mine, supporting the potential for an open pit mine and strengthening the case for bulk underground mining using long-hole stoping.

“These excellent results not only support our ongoing studies for a proposed bulk open pit operation at King of the Hills but also confirming the strong potential to expand the current 3.1 million-ounce Resource, which is currently open in all directions,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We have a very active drilling program scheduled for the remainder of FY2020, with 85,000 metres of underground diamond drilling in progress, as well as ongoing assaying of historical drill core and a regional drilling program targeting near surface oxide mineralisation.

“Collectively, these programs will underpin future updates to the KOTH Resource and feed into the ongoing Final Feasibility Study for the integrated bulk open pit and underground mining operation which is scheduled for completion by the September 2020 Quarter.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Pioneer Resources Resumes Drilling at Dome North Lithium Group Targets

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THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) has resumed drilling at the company’s Dome North lithium group located betwixt Kalgoorlie and the Port of Esperance in Western Australia.

Pioneer Resources is drilling at the project on a group of prospects where a suite of spodumene-pegmatites was recently discovered.

The latest drilling follows on from the company’s announcement in October of high-grade lithium drilling results from the Cade deposit.

Pioneer’s geology team has recently claimed discovery of three separate pegmatites containing the premium lithium mineral spodumene at the Northern Pioneer Dome.

First pass of drilling returned very encouraging lithium results beneath two of the pegmatites, and more recent work has highlighted four other targets for drilling.

This second drilling program will be completed in three parts:

Extensional drilling at the Cade deposit (to the North East and South) and at Spodumene Target 1;

First Pass drilling at Spodumene Target 3 where pegmatite outcrops, as well as other geochemical and geophysical targets; and

Diamond core drilling into the Cade spodumene deposit to provide samples for metallurgical testing.

In all, six targets will be tested during this campaign, with drilling expected to be completed before the end of the year with assay results expected to be available during January 2020.

“The first round of drilling, which identified the significant Cade spodumene deposit and other mineralised pegmatites, was an unqualified success,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“The current drilling campaign will extend on this success, testing a range of targets generated through mapping, soil geochemistry and ground geophysics, and is designed to enable the company to get a sense of the potential scale of the project.”

Having completed its first mining operation at the Sinclair caesium mine, and now being well-funded through the sale of pollucite, Pioneer is returning to being an active explorer with its stated focus being key global demand-driven commodities to provide its next mining opportunity.

Sale of the final shipment of crushed high-grade pollucite is scheduled for the end of November.

Total sales for the period from 1 July 2019 to 31 December 2019 are expected to total approximately US$4.8 million (approx. $7 million).

From a cash perspective, Pioneer held $5.7 million in cash at the end of October and a further $1 million is expected to be received from the remaining sales of high-grade pollucite.

 

Web: www.pioreources.com.au

THE DAILY ROADHOUSE

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Metalicity Pegs New Tenements

THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of a further four prospecting and exploration tenements in the Kookynie Area in the Goldfields region of Western Australia.

Marenica Energy Drills Koppies Mineralisation

THE DRILL SERGEANT: Marenica Energy (ASX: MEY) announced assay results from a Phase 2 reconnaissance rotary air blast (RAB) drilling program on the company’s Koppies prospecting in Namibia, Africa.

Rox Resources reports Further High-Grade Results from Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Metalicity Pegs New Tenements

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THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of a further four prospecting and exploration tenements in the Kookynie Area in the Goldfields region of Western Australia.

On top of that, Metalicity received notification its applications on the Fraser Range North and two of the three Warburton tenements have now been granted.

“I am absolutely delighted we were able to peg and apply for this incredibly strategic and prospective tenure within the Kookynie Area,” Metalicity managing director and CEO Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.

“We are making great strides towards consolidation of the Kookynie and Yundamindra gold projects through farm-ins and joint ventures, coupled with opportunistic pegging of ground to ensure that value is created for Metalicity shareholders.

“With part of the Warburton and the Fraser Range North projects being converted to live tenure, I look forward to working with the Traditional Owners to ensure access agreements are fair and equitable for all.

“Metalicity is growing a pipeline of projects headed by our Kookynie and Yundamindra farm-in agreements with incredibly prospective greenfields acquisitions.”

While Metalicity’s focus remains on the Kookynie and Yundamindra gold projects, the company highlighted that it is striving to create value through the development of a pipeline of projects within the gold and base metal space.

The Kookynie area especially has been subject to fractured ownership over a very long period and Metalicity considers, through well-structured farm-in/joint venture arrangements and being highly cognisant of competitor activities in the region, it is making great head way into re-consolidating the Kookynie area to ensure exploration is not hampered by arbitrary tenement boundaries.

Coupled with the grant of two exceptionally prospective nickel-copper and copper projects in proven, well-endowed provinces of the Fraser Range and Musgraves, this further illustrates Metalicity’s drive to develop a well credentialed pipeline of Projects to generate value for the company.

 

Web: www.metalicity.com.au

 

Marenica Energy Drills Koppies Mineralisation

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THE DRILL SERGEANT: Marenica Energy (ASX: MEY) announced assay results from a Phase 2 reconnaissance rotary air blast (RAB) drilling program on the company’s Koppies prospecting in Namibia, Africa.

Marenica Energy claimed the Phase 2 RAB drill program has identified exceptional uranium mineralisation at the Koppies tenement, with the best intersections including:

KP055
13 metres at 905ppm uranium from 3m, including 2m at 4,504ppm uranium;

KP045
10m at 687 ppm uranium from 2m, including 2m at 1,974ppm uranium;

KP012
7m at 277ppm uranium from 10m; and

KP047
5m at 194ppm uranium from 5m and 2m at 593ppm uranium from 15m.

Marenica highlighted the interval of 2m at 4,504ppm uranium encountered in hole KP055, saying the direction of the palaeochannel in this area is yet to be established, however, this will be the focus of the next drilling program expected to commence shortly.

“With such fantastic results, the Koppies story continues to develop, with excellent grades achieved from Phase 2 drilling, coupled with the discovery of a new highly mineralised palaeochannel at Koppies 2,” Marenica Energy managing drector Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“We look forward to continuing to advance the project over the coming period with expanded drilling to commence shortly.”

Marenica indicated it intends to complete additional HLEM work within the vicinity of Koppies 1 and 2, with its priority to now confirm the extent of the palaeochannels to guide a Phase 3 drill program.

The company plans to complete the Phase 3 drilling before the end of the calendar year with exploration continuing through 2020 to test the extent of mineralisation on the Koppies exploration permit.

 

Web: www.marenicaenergy.com.au

 

Rox Resources reports Further High-Grade Results from Youanmi

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THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Rox Resources’ recent drilling at the Youanmi gold project has intersected more high-grade gold mineralisation.

Results received from Youanmi South and Commonwealth drilling include:

RXRC073
4m at 11.23 grams per tonne gold from 92m; (Youanmi South)

RXRC079
8m at 3.73g/t gold from 60m; and (Commonwealth)

RXRC077
3m at 5.45g/t gold from 87m. (Commonwealth)

The company said that drilling at the Plant Zone has continued to define shallow, potential ‘base load mill feed’ with new results showing continuations to shallow mineralisation including:

RXRC058
8m at 2.62g/t gold from 60m;

RXRC055
9m at 1.04g/t gold from 83m; and

RXRC056
8m at 1.03g/t gold from 44m.

“These results continue to show the excellent potential of the Youanmi belt and the OYG JV in particular and we look forward to presenting further results when they become available,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“Drilling at the Plant Zone prospect, a granite stockwork style of mineralisation now delineated over a 1.4 kilometre strike length, continues to add scale to the overall project gold inventory.”

Rox’s recent drilling has been focussed on the Plant Zone (potentially base load mill feed) and the high-grade Commonwealth prospect.

The company expects to shift its focus onto the Youanmi South prospect following completion of geophysical surveying (drone mag).

The Youanmi South prospect has previously returned some of the best drill intersections of the current drill program.

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

THE DAILY ROADHOUSE

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Mincor Resources Enhances Cassini Mineral Resource

THE DRILL SERGEANT: Mincor Resources (ASX: MCR) released a healthy increase in the Mineral Resource for the company’s Cassini nickel sulphide deposit at Kambalda in Western Australia.

Lithium Australia Subsidiary Confirms Offtake Deal with Korean Battery Recycler

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced its 24 per cent subsidiary Envirostream Australia Pty Ltd signed a memorandum of understanding (MoU) with South Korean company SungEel HiTech Co., Ltd for the sale of recycled battery metals.

Meteoric Resources Extends Juruena and Claims Porphyry Style Gold‐Copper Discovery

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) received the latest assays from drill holes JUDD009 and JUDD010 that were completed during the maiden drill program at the company’s 100 per cent-owned Juruena gold project in Brazil.

Gateway Mining to Divest Non-Core Edjudina Exploration Project

THE BOURSE WHISPERER: Gateway Mining (ASX: GML) has entered into a tenement sale agreement for the sale of the company’s Edjudina project Exploration Licences in the Laverton Region of Western Australia.

 

Mincor Resources Enhances Cassini Mineral Resource

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THE DRILL SERGEANT: Mincor Resources (ASX: MCR) released a healthy increase in the Mineral Resource for the company’s Cassini nickel sulphide deposit at Kambalda in Western Australia.

The updated Cassini Indicated and Inferred Mineral Resource comprises 1.254 million tonnes at 4 per cent nickel.

Mincor Resources said this represents an increase of 12,600 high-grade nickel tonnes.

Of note is that the addition of 269,000 tonnes of ore was delivered at a grade of 4.7 per cent nickel, increasing the average grade of the Mineral Resource from 3.8 per cent nickel to 4 per cent.

The company declared this confirms Cassini as one of the largest and highest-grade nickel deposits in the Kambalda district.

Over 86 per cent of the expanded Mineral Resource is now classified in the higher-confidence Indicated category, and is available for conversion to Ore Reserves.

Mincor’s total Kambalda Mineral Resource inventory now stands at 4.9 million tonnes at 3.8 per cent nickel for 187,900 nickel tonnes, with 84 per cent in the Indicated/Measured category.

The company considers the continued rapid growth in the Cassini Mineral Resource this year in terms of tonnage, grade and quality has vindicated its faith and confidence in the untapped exploration potential of this newly defined district within the Kambalda region.

“From a Maiden Mineral Resource of 18,700 nickel tonnes in August last year, Cassini has grown quickly into a substantial asset for our shareholders, one of the cornerstone deposits of our plan to restart nickel production at Kambalda and the most significant greenfields discovery seen in the district in over two decades,” Mincor Resources managing director David Southam said in the company’s announcement to the Australian Securities Exchange.

“Since our last Mineral Resource update in August 2019, we established a short-term plan to complete a bespoke drill program aimed at upgrading this beachhead resource for inclusion in the Definitive Feasibility Study – and we have more than achieved this outcome in just six drill holes, which is an exceptional return in terms of nickel tonnes by any measure.

“We like to think of it as extremely cost effective ‘nickel banking’.

“The last four drill intercepts in particular have been stand-outs and show that the CS5 surface is becoming both higher grade and thicker the deeper we drill – which bodes well for the future exploration of this and the other parallel channels from the planned underground workings to be established at Cassini.

“With 50,000 nickel tonnes now delineated and drilled from surface, we believe that Cassini displays the same characteristics of all large, long-life orebodies discovered and mined in the Kambalda region.

“What is particularly exciting is that it is the first greenfields discovery in the Kambalda region for decades on a newly identified contact.

“The updated Cassini Mineral Resource will now be incorporated into the ongoing Definitive Feasibility Study for our Nickel Restart Strategy, which we are planning to release in the March quarter next year, along with a Maiden Ore Reserve.”

 

Email: mincor@mincor.com.au

Web: www.mincor.com.au