Red 5 Scores Big Hits Assaying Historical KOTH Core

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THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is continuing to produce encouraging results from ongoing assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Red 5 said the results confirm the presence of gold mineralisation by revealing zones in areas that have been assigned zero grade in the current 3.1 million ounce Resource model.

Latest highlights include:

KUD00024
3m at 13.3 grams per tonne gold;

KUD00059
1.4m at 30g/t gold;

KUD00138
16m at 2.6g/t gold;

KUD00153
7m at 5.0g/t gold;

KUD00175
3m at 16.8g/t gold;

KUD00182
15.4m at 2.6g/t gold;

KUD00183
2.8m at 14.4g/t gold;

KUD00184
1m at 39.9g/t gold;

KUD00186
14.1m at 5.2g/t gold;

KUD00224
10m at 3.6g/t gold;

KUD00225
4.5m at 7.6g/t gold;

KUD00226
7.2m at 6.0g/t gold;

KUD00228
6.6m at 6.2g/t gold;

KUD00234
18m at 1.8g/t gold;

KUD00239
2.6m at 66g/t gold;

KUD00485
8m at 5.8g/t gold; and

KUD00562
7.2m at 4.6g/t gold.

Red 5 has now assayed a total of 17,047m of previously unassayed drill core from 266 historical diamond holes, representing approximately 49 per cent of the total length of these holes.

A further 12,600m of un-sampled intervals of historical drill core has been identified and is planned to be assayed, bringing the total to around 30,000m (compared to the initial estimate of 20,000m).

Red 5 explained that assaying of historical core is being undertaken in parallel with underground diamond drilling programs, with approximately 85,000m of drilling planned for FY2020.

The company is conducting the assay program for historical drill core in parallel with ongoing underground drilling as it considers both programs offer strong potential to expand the existing 3.1 million ounce KOTH Mineral Resource base.

“This program has been a big free kick for the project and company,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We continue to see very positive results from systematically assaying the extensive quantity of previously unassayed historical core available at KOTH, with the results demonstrating the presence of significant amounts of gold mineralisation located in between the high-grade veins that were the primary focus for past owners.

“In parallel, we are progressing the major underground drill program at King of the Hills, with planning underway to drill approximately 85,000 metres for FY2020.

“Assay results from this ongoing drilling will be progressively announced in due course.

“These programs will both feed into future Mineral Resource updates, as well as the ongoing Final Feasibility Study for the integrated bulk open pit and underground mining operation at KOTH, which is scheduled for completion by mid next year.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Encounter Resources and Newcrest Drilling at Tanami JV

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) announced the completion of the first phase of RC drilling at Hutch’s Find in the Tanami region of Western Australia that is held in Joint Venture with Newcrest Mining (ASX: NCM).

Encounter Resources reported that a total of 17 RC drill holes for 4,930 metres of drilling was completed at Hutch’s Find with assay results expected in November 2019.

Newcrest is sole funding exploration activities across a series of JVs with Encounter in the Tanami and West Arunta regions of WA.

Three of these JVs (Watts, Selby and Lewis) cover over 100 kilometres of strike along the major Trans-Tanami Structure structural corridor that extends through the Tanami region.

Watts contains Hutch’s Find while Selby, where drilling is now underway, includes a number of regional scale geochemical anomalies defined in shallow drilling, discrete geophysical targets and historical high-grade gold intersections in limited deeper drilling.

Current high priority prospects at Selby include the Afghan, Mojave and Camel prospects.

The Newcrest-funded drilling program has now moved to the Afghan prospect targeting a series of dolerite units along an interpreted thrusted margin between the Stubbins Formation (equivalent unit to the host of the plus-14 million-ounce Callie gold deposit and the Killi Killi Formation.

Previous drilling at Afghan has outlined a broad near surface gold anomaly that extends over four kilometres of strike.

Exploration at Afghan is targeting down dip and plunge extensions of known mineralisation along the interpreted thrust position.

“The Newcrest operated RC drill program in the Tanami has started well with the first phase of drilling successfully completed at Hutch’s Find,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“The rig has now moved to the Afghan prospect to complete a planned 12-hole program of 300 metre deep RC holes.

“The program is targeting down dip and plunge extensions of known mineralisation within a broad anomalous gold halo defined in previous shallow drilling.”

 

Email: contact@enrl.com.au

Web: www.enrl.com.au

 

THE DAILY ROADHOUSE

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Carawine Resources Adds New Tenements and Welcomes Rio as JV Partner

THE BOURSE WHISPERER: Carawine Resources (ASX: CWX) released an ASX double banger in regards to the company’s Paterson project in Western Australia.

Auroch Minerals Confirms High-Grade Nickel at Saints

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) announced the first assay results to emerge from the first drilling program undertaken at the company’s recently-acquired Saints nickel project northwest of Kalgoorlie in Western Australia.

Kopore Metals Intercepts Trace Amounts of Visible Copper Mineralisation

THE DRILL SERGEANT: Kopore Metals (ASX: KMT) kept the market up to speed on exploration activities being undertaken at the company’s Kalahari Copper Belt tenement holdings in Botswana and Namibia.

Magmatic Resources Gives David Flanagan a Chair at the Boardroom Table

THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) has appointed David Flanagan to the company’s Board as an independent non-executive director.

Magmatic Resources Gives David Flanagan a Chair at the Boardroom Table

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THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) has appointed David Flanagan to the company’s Board as an independent non-executive director.

Magmatic Resources declared it is entering an exciting new phase at its four East Lachlan gold and porphyry copper-gold exploration projects, and that Flanagan’s vast experience in exploration and developing mines will greatly enhance the company’s capabilities.

“David Flanagan has a strong track record, from greenfields exploration, project development, strategic planning to marketing and has a broad range of global industry contacts,” Magmatic Resources managing director David Richardson said in the company’s announcement to the Australian Securities Exchange.

“We are delighted that he has agreed to join our Board and we look forward to his contribution in what is a very exciting period of the company’s evolution as we progress planning our drill programs at our East Lachlan projects.

“David’s assistance in progressing our projects will be invaluable.”

For his part, Flanagan said he was excited to be joining the Board of Magmatic at a point in time where it is on the cusp of unlocking the value of its dominant position in the East Lachlan.

“Alkane Resources Limited’s (ASX: ALK) recent Boda porphyry copper gold discovery has highlighted the significant potential for new Tier 1 copper and gold discoveries in this underexplored region,” Flanagan said.

“With recent discoveries in a region that hosts a number of world class mining operations, I am looking forward to working with the Board and management team in developing and executing a strategy that will assist the company to maximise the value of its projects.”

 

Email: info@magmaticresources.com

Web: www.magmaticresources.com

 

Kopore Metals Intercepts Trace Amounts of Visible Copper Mineralisation

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THE DRILL SERGEANT: Kopore Metals (ASX: KMT) kept the market up to speed on exploration activities being undertaken at the company’s Kalahari Copper Belt tenement holdings in Botswana and Namibia.

Kopore Metals is carrying out diamond drilling at the Otjari Domal prospect where it has completed its first two diamond drill holes.

A third diamond drill hole has been commenced to test an identified target within the Otjari/Qembo Corridor that will seek to test a known copper occurrence and test the inferred Ngwako Pan/D’Kar Formation geological contact.

Kopore has interpreted the Otjari Domal prospect as the along strike extension of the Qembo Dome, where previous explorers obtained historical copper intersections.

The initial two Otjari diamond drillholes have been interpreted to intersect the lower D’Kar Formation proximal to the targeted contact position.

Company observations from the recent drilling program include high temperature alteration and pathfinder sulphides, known to occur on the Kalahari Copper Belt along with the identification of trace amounts of visible copper mineralisation, including chalcocite and bornite in OTJ_002, at 201.10m depth downhole.

The company will complete the third diamond drillhole and revaluate returning to the first holes for possible depth extension.

“We are very happy with our initial exploration foray into the Otjari/Qembo corridor,” Kopore Metals managing director Simon Jackson said in the company’s announcement to the Australian Securities Exchange.

“This area of the Kalahari Copper Belt is extremely underexplored and we are pleased to be the first movers on many targets.

“The presence of visible copper mineralisation tells us that we are on the right track and coupled with our increasing geological knowledge, we are looking forward to making the next copper discovery on the belt.”

 

Email: info@koporemetals.com

Web: www.koporemetals.com

 

Carawine Resources Adds New Tenements and Welcomes Rio as JV Partner

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THE BOURSE WHISPERER: Carawine Resources (ASX: CWX) released an ASX double banger in regards to the company’s Paterson project in Western Australia.

The first came in the shape of the addition of four new exploration licence applications to the Paterson project.

Carawine Resources explained its tenement applications were lodged simultaneously with competing applications from up to six other applicants and that in such cases the priority of the competing applications is decided by a ballot conducted by the Mining Warden of Western Australia.

“The results of this ballot are good news for Carawine, especially as we have won the largest of the competing tenement applications, adjacent to and adjoining the Baton tenements,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“We look forward to progressing these tenements towards grant and evaluating their exploration potential in this highly prospective, and sought-after exploration region.”

The four exploration licence applications, named Cable, Magnus, Puffer and Eider are located in the western part of the Paterson Province, and cover parts of the Broadhurst, Yandanunyah and Isdell Formations.

The Cable and Puffer tenements straddle the Vines Fault, a major regional structure associated with several exploration prospects.

The Broadhurst Formation is host to Metals X’s Nifty copper deposit, with Magnus and Puffer located just one kilometre and 20km respectively from Nifty.

The Cable tenement is immediately adjacent to the company’s granted Baton tenements which were the subject of the company’s second announcement of the day.

Carawine announced a Farm-In and Joint Venture Agreement with Rio Tinto Exploration Pty Limited (RTX) a wholly-owned subsidiary of Rio Tinto (ASX: RIO).

The Farm-In and JV will explore Carawine’s Baton (E45/4871 & E45/4955) and Red Dog (E45/4881) Tenements where work to date has identified more than twenty high-priority target areas, covering a range of potential deposit types in the Paterson region, all requiring follow-up exploration.

David Boyd said the commitment from Rio Tinto underlined the potential of the Red Dog and Baton prospects.

“To have one of the world’s largest resources companies committing to significant expenditure on our Baton and Red Dog tenements is a strong endorsement of the prospectivity of the Tenements,” Boyd said.

“RTX is actively exploring in the Paterson to complement their Winu discovery.

“They have the technical knowledge and resources to rapidly and systematically evaluate the numerous high priority targets at Baton and Red Dog, increasing the chances of a successful discovery.

“This deal also ensures Carawine is well positioned to share in the benefit of any discoveries, with Rio Tinto well placed to support a potential development should the exploration activities be successful.

“We look forward to sharing the details of the exploration programs as they progress.”

Under the term sof the agreement RTX is to pay $200,000 cash up-front and subscribe for $300,000 of Carawine shares.

RTX is required to spend $1 million on exploration and complete at least 2,000m of drilling within the first two years.

RTX has the right to earn a 70 per cent interest by spending at least $5.5 million within six years and can earn to 80 per cent interest by sole funding to a discovery milestone, or completion of a scoping-level study on any discovery.

Carawine said that RTX brings high-calibre technical knowledge, exploration resources and recent track record of discovery success in the region to the table.

Carawine indicated it will continue target generation work on its other Paterson project tenements, including the newest additions mentioned above, in line with its strategy of advancing exploration programs in its own right, and/or considering suitable joint venture opportunities.

Carawine said an important aspect of the agreement is that it also allows the company to concentrate its resources in the near term on exploration at its Jamieson project in Victoria, where it has identified porphyry-related mineralisation at its Hill 800 prospect, and potential for additional large copper-gold porphyry mineral systems.

A detailed helicopter-borne magnetic survey has commenced at Jamieson, with results to be used to provide targets for direct drill testing of the porphyry model at depth.

Drilling is planned to commence mid-November, initially targeting extensions to known porphyry-related mineralisation at Hill 800 from relatively shallow depths.

 

Email: info@carawine.com.au

Web: www.carawine.com.au

 

Auroch Minerals Confirms High-Grade Nickel at Saints

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THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) announced the first assay results to emerge from the first drilling program undertaken at the company’s recently-acquired Saints nickel project northwest of Kalgoorlie in Western Australia.

Auroch Minerals said the results from diamond drill-hole SNDD005 confirmed extremely high-grade nickel sulphide mineralisation, in particular high-grade nickel, including:

1.77 metres at 6.72 per cent nickel, 0.27 per cent copper and 0.13 per cent cobalt from 227.31m down-hole, including 0.50m at 9.98 per cent nickel, 0.24 per cent copper and 0.2 per cent cobalt.

The company explained the drill-hole was part of infill drilling at the Saint Patricks target area aimed at confirming the continuity of the high-grade nickel sulphide mineralisation intersected in historic drill-holes drilled by WMC in the 1990s.

Auroch claimed the intersection not only confirmed the existing mineralisation model, but the nickel grade exceeded all previous intersections.

Down-hole electromagnetic (DHEM) surveys completed last week identified a very strong EM conductor in close proximity to drill-holes SNDD001 and SNDD002 of a high conductance (over 13,000S) that Auroch identified to be typical of that caused by massive sulphide mineralisation.

The company considers the proximity of the modelled EM plate to the known high-grade nickel mineralisation on the Western Contact increases the probability that such massive sulphides may be nickel-bearing.

Auroch believes DHEM is an extremely important tool for targeting potential massive nickel sulphide mineralisation, and indicated it would be using the DHEM information gained from this program in modelling drill targets for the next phase of drilling to begin in early 2020.

“We are very encouraged by the first assay results from our maiden drilling program at the Saints nickel project,” Auroch Minerals managing director Aidan Platel said in the company’s announcement to the Australian Securities Exchange.

“The extremely high-grade of the nickeliferous massive sulphides intersected in drill-hole SNDD005 exceeded our expectations and highlight that we are in a very nickel-rich ultramafic system at Saints that is capable of hosting a major nickel sulphide deposit.

“The initial results from our DHEM surveys completed last week are also very encouraging, with a strong EM conductor on the Western Contact potentially representing extensions to the known high-grade nickel sulphide mineralisation, providing an exciting drill target that we will test as soon as practicable.

“With drilling ongoing, assay results for the first six holes pending, and further DHEM results to come, it is an exciting time for Auroch and the Saints nickel project.”

 

Email: admin@aurochminerals.com

Web: www.aurochminerals.com

 

Pioneer Resources Encouraged by Cade Drilling Results

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THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) received assay results from the final 11 holes of a recent drilling program completed at the company’s 100 per cent-owned Pioneer Dome project in Western Australia.

The Resources Roadhouse managed a quick chat with Pioneer Resources managing director David Crook at the 2019 Brisbane Resources Round-up.

Pioneer Resources carried out the drilling that tested two of four lithium-caesium-tantalum (LCT) pegmatite targets, resulting in the discovery of the Cade spodumene deposit.

The drilling also encountered intersections of mineralisation at Spodumene Target 1.

Assays have been received for holes PDRC278 through PDRC288, and include:

From the Cade deposit, intersections of low iron spodumene:

PDRC278
15 metres at 1.48 per cent lithium oxide (Li2O);

PDRC287
13m at 1 per cent Li2O; and

PDRC288
15m at 1.13 per cent Li2O.

From the CNE target, which was an unrecognised pegmatite located immediately northeast of the Cade deposit:

PDRC282
4m at 1.22 per cent Li2O.

From Spodumene Target 1, which outcrops approximately 2km west of the Cade Deposit:

PDRC291
10m at 1 per cent Li2O.

Pioneer noted that all mineralised pegmatites remain open and that drilling is expected to resume in November to further determine their dimensions.

The company highlighted that the four targets it has identified to date have same apparent orientation and dip, suggestive of regional pegmatite stacking.

“The Cade deposit is a significant low-iron spodumene discovery confirmed by our first pass of drilling,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“This is testament to the way Pioneer approaches exploration and provides us with an outstanding starting base from which we hope to build a substantial lithium project.”

The drilling scheduled to resume in November will initially target mineralisation at Spodumene Target 1 and the CNE pegmatite, as well as other substantiated geochemical and geophysical targets, including anomalies identified by deep ground penetrating radar (DGPR) survey that is currently in progress.

In addition, six diamond core holes will be drilled into the Cade spodumene deposit to test the proposed plunge of the mineralisation and to produce samples for metallurgical testing.

 

Email: info@pioresources.com.au

Web: www.pioresources.com.au

 

Blackstone Minerals Hits More Nickel Sulphide Intersections at Ta Khoa

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) enjoyed a good start to the 2019 Brisbane Resources Roundup by reporting on the second round of results from maiden drilling at the company’s Ta Khoa nickel project in Northern Vietnam.

The Resources Roadhouse caught up with Blackstone Minerals managing director Scott Williamson at the 2019 Brisbane Resources Round-up.

Blackstone Minerals said the second round of results from diamond drilling at the Ta Khoa project delivered further substantial intersections of disseminated nickel sulphide as well as noteworthy PGEs.
The maiden drilling results from the latest six drill holes in the program include:

BP19-04
16.6 metres at 0.34 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.07 grams per tonne PGE from 104.4m;

BP19-05
15.8m at 0.57 per cent nickel, 0.07 per cent copper, 0.01 per cent cobalt and 0.26g/t PGE from 118.2m;

BP19-06
27.7m at 0.88 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt and 0.74g/t PGE from 101m;

BP19-08
29.4m at 1.00 per cent nickel, 0.12 per cent copper, 0.02 per cent cobalt and 0.6g/t PGE from 140.6m;

BP19-09
11.9m at 1.46 per cent nickel, 0.15 per cent copper, 0.02 per cent cobalt and 1.09g/t PGE from 107m; and

BP19-10
33.3m at 0.80 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt and 0.37g/t PGE from 136.9m.

“Drilling at Ta Khoa continues to deliver significant intersections of disseminated nickel sulphide and, with the recently identified potential for substantial platinum group element (PGE) credits, the Ban Phuc DSS is shaping up to be a globally significant nickel sulfide system,” Blackstone Mineral managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

Blackstone is the first company to assay the Ban Phuc DSS for PGEs that has resulted in the recent uncovering of what it 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 feels its maiden PGE assays combined with the abundance of disseminated nickel sulphide targets suggest PGEs associated with disseminated nickel sulphide mineralisation could greatly improve the economics of the Ta Khoa nickel project.

 

Email: admin@blackstoneminerals.com.au

Web: www.blackstoneminerals.com.au

 

Middle Island Receives Positive Results from Sandstone Stand-Alone Re-Optimisation

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THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has had an independent re-optimisation completed at the company’s 100 per cent- owned Sandstone gold project in Western Australia.

Middle Island Resources engaged Mining Focus Consultants (MFC) to undertake a series of Whittle Optimisations based on two input parameters being updated from those applied in the previously conducted Pre-Feasibility Study (PFS).

The company said the Whittle re-optimisation has demonstrated that the Sandstone gold plant can be profitably refurbished utilising feed from MDI’s existing Mineral Resources.

Mining Focus Consultants utilised current gold prices and revised pit slope parameters, with around 90 per cent of the optimised JORC 2012 Mineral Resources classified in the higher confidence Indicated category.

In all other respects the inputs to the Pre-Feasibility Study (PFS) were applied.

The re-optimisation study utilised a range of contemporary gold prices of $2,000 per ounce and $2,500 per ounce, consistent with the current gold price of $2,180 per ounce and considerably higher than the base-case gold price of $1,600 per ounce utilised in the PFS.

The Two Mile Hill, Shillington and Wirraminna open pit deposits were included in the re-optimisation.

“Based on the positive result of this re-optimisation study, MDI has commenced an update of the PFS,” Middle Island Resources said in the company’s ASX announcement.

“The update will revisit several key inputs, and expected to be of particular significance, re-evaluation of the geotechnical parameters.

“No additional resource definition drilling is planned at this stage, as over 90 per cent of the Mineral Resource is classified in the Indicated category.”

Middle Island indicated that its drilling database records over 265,000m of historic and contemporary, representing approximately 7,163 drill holes located within the company’s tenure.

This represents an average depth of only 37m per drill hole with all gold discoveries claimed to date based on outcropping mineralisation.

Drill holes deeper than 50m have been focussed mainly on the Two-Mile Hill tonalite deeps deposit, much of which has been completed by Middle Island.

“MDI considers the Sandstone project to have excellent exploration potential, combined with the potential stand-alone gold production operation defined by the recent study,” the company said.

Middle Island went on to explain that as part of the Sandstone acquisition, it has proprietary rights to the original Sandstone database including over 1.07 million meters of drilling in over 25,000 drillholes.

This includes the physical drillcore and metadata covering the entire Sandstone greenstone belt, inclusive of all historical drilling completed within the Alto Metals permits.

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au