Red Metal Produces Maiden Trial MREC Product From Sybella REO Ore

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THE DRILL SERGEANT: Red Metal (ASX: RDM) completed a proof-of-concept impurity removal trial on ore from the company’s Sybella rare earth project near Mt Isa.

Red Metal declared the results of its first proof-of-concept impurity removal trial on the Sybella rare earth ore has resulted in a potentially saleable mixed rare earth carbonate (MREC) product.

The MREC product comprised 48.7 per cent total rare earth oxides (TREO), of which the percentage of magnet rare earths (neodymium, praseodymium, dysprosium and terbium oxides) was 39.5 per cent.

The company explained the result to be well above that of other REO projects expecting it should result in higher payability based on industry pricing mechanisms.

Red Metals’ first-pass MREC precipitation achieved high downstream recoveries of 93% neodymium, 94% praseodymium, 93% dysprosium and 93% terbium.

“Impurity removal and precipitation of a saleable product with minimal REO loss is an important hurdle to clear for both the Granite-Hosted Sybella and Ionic Clay-Hosted deposit types,” Red Metals managing director Rob Rutherford said in the company’s ASX announcement.

“As such, success with our first impurity removal attempt is a major step forward for the Sybella REO discovery as it shows the essential indicators are in place to cost effectively produce a quality MREC product.

“The company is very confident that our ongoing studies will confirm a process route that optimises REO recovery (increases revenue) while reducing the acid consumption rate and ensuring that impurities in the final product are satisfactorily minimised (lowering processing costs).

“Success with the studies would give confidence that a premium MREC product could be delivered with low operating costs.

“We look forward to announcing assay results from the over 8000 metres of step-out drilling recently completed across a 24 square kilometres area of the mineralised granite.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Black Canyon managing director Brendan Cummins

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Black Canyon (ASX: BCA) released a scoping Study for the company’s KR1 and KR2 manganese deposits in the Pilbara of Western Australia. Managing director Brendan Cummins visited The Resources Roadhouse to bring Wally Graham up to speed.

Encounter Resources Score Further West Arunta High-Grade Niobium Intercepts

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) announced further shallow, high-grade niobium intercepts via aircore drilling at the company’s Aileron project in the West Arunta region of Western Australia.

Encounter Resources’ 2024 aircore drill program is being undertaken to test and define areas of high-grade, shallow mineralisation near major structures across key targets it has previously identified at Aileron.

Based on the aircore results, the company envisages follow-up RC and potentially diamond drilling will test the depth extent of this mineralisation and provide further geological and metallurgical information.

A second batch of assays results from the Crean target includes additional shallow, high-grade niobium-REE mineralisation from previously reported results.

Aircore drilling at the Emily target returned shallow, high-grade niobium-REE mineralisation north and south of previously reported results.

“Aircore drilling is defining new belts of shallow niobium-REE carbonatite hosted mineralisation in the West Arunta,” Encounter Resources executive chairman Will Robinson said in the company’s ASX announcement.

“Highly enriched, near surface mineralisation has now been intersected at both the Crean and Emily targets which are located on separate structures at Aileron, over 10km apart.

“The aircore rig is currently completing further drill sections at the western end of Crean and will then return to Emily and Green.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Iltani Resources Encounters High-Grade Silver-Indium Mineralisation at Orient

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THE DRILL SERGEANT: Iltani Resources (ASX: ILT) reported assay results from a reverse circulation (RC) drilling program recently undertaken on the company’s Orient project in North Queensland.

Iltani Resources declared the highlight of the drilling to come from hole ORR030 that intercepted multiple high-grade silver-lead-zinc-indium vein systems including the highest-grade mineralisation intersected at Orient to date by the company, including:

9m at 334 grams per tonne silver equivalent (AgEq) (67g/t silver, 110g/t Indium, 1.3 per cent lead and 3.4 per cent zinc) from 23m, including;
5m at 567g/t AgEq. (111g/t Ag, 195g/t In, 2.1% Pb and 5.8% Zn) from 26m, including;
1m at 1,552g/t AgEq (266g/t Ag, 500g/t In, 5% Pb and 17.4% Zn) from 28m.

Iltani noted ORR030 being 400m along strike from high-grade mineralisation previously encountered in drillhole ORR021 (5m at 440g/t AgEq. from 117m and 4m at 448g/t AgEq. from 186m), which it considers demonstrating the potential for Orient West to host a high-grade silver-indium resource.

“Iltani’s recently completed RC drilling program at Orient West of 11 RC drillholes continues to deliver with the highest-grade intercept at Orient to date…in ORR030,” Iltani Resources managing director Donald Garner said in the company’s ASX announcement.

“The high-grade mineralisation intersected in ORR030 is 400m along strike from the high-grade mineralisation intersected in ORR021, demonstrating the potential of the Orient West vein system to host a high-grade silver-lead-zinc-indium resource within a far bigger mineralised envelope.

“The results reinforce the potential to build a high-grade core at Orient West, and we believe the high-grade core could have a strike extent of more than 700m.

“It is particularly pleasing to see intersections at grades that we could potentially chase underground from an open pit.

“Looking at what we have achieved to date at Orient West, plus adding in what we have at Orient East, confirms our belief that Orient is Australia’s most exciting silver exploration project with potential to host a large silver-indium deposit.

“Once we have received the final assay results from the recent RC program for ORR032 to ORR035, Mining One will start work on estimating an initial Exploration Target for Orient West.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Ardea Resources Gets KNP Goongarrie Hub DFS Underway

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THE DRILL SERGEANT: Ardea Resources (ASX: ARL) has kicked off the Definitive Feasibility Study (DFS) for the company’s Kalgoorlie Nickel Project (KNP) – Goongarrie Hub.

The DFS is starting with an infill drill program designed to upgrade the nickel-cobalt laterite resources to Measured Mineral Resource category for the first five year open pits.

The planned program comprises 888 Reverse Circulation (RC) drill holes for a total of 51,745 metres on a 40x40m spacing.

The RC drilling has commenced at the Big Four nickel-cobalt deposit with some 16,215m planned.

One RC rig is starting proceedings, with additional rigs planned to be brought on to site in September 2024.

“The full Goongarrie Hub infill RC drill program is expected to be completed by end of CY2024,” Ardea Resources explained it its ASX announcement.

“The results from the drilling will then be used to provide an updated Mineral Resource Estimate (Measured category) for the first five year open pits.

“This will increase confidence in the existing nickel laterite resources, particularly during the payback period.

“As part of the DFS, additional drill programs are also planned for geotechnical testwork and hydrogeological testing.

“Additional diamond core drilling to provide bench-scale metallurgy material and validate historic RC results will also be completed.

“Commencement of these programs are pending granting of approvals (programs of work) from DEMIRS and final drill design.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Warriedar Resources Diamond Drilling Hits High-Grade Gold at Ricciardo

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) reported results from diamond drilling undertaken at the Ricciardo deposit within the company’s Golden Range project in the Murchison region of Western Australia.

Warriedar Resources completed the first round of diamond drill program at Ricciardo since 2014, when just three diamond holes were drilled by the previous operator.

Assay results returned for the first four holes at Ricciardo include:

RDRC039 DD
19 metres at 4.94 grams per tonne gold from 188m, including a contiguous final RC result of 4m at 14.49 g/t from 188m;

RDRC040 DD
12m at 6.98g/t gold from 110m, including 3m at 22.12g/t gold from 112m;

RDRC055 DD
16m at 2.3g/t gold from 243m, including 6m at 3.13g/t gold from 252m; and

RDRC055 DD
17m at 2.38g/t gold from 264m, including 8m at 4.03g/t gold from 273m.

Warriedar welcomed the results saying they add confidence and continuity to the MRE in this area.

“The results from these initial four diamond holes extend the high-grade shoot below the Silverstone North pit and infill a previous gap in the high-grade zone of the MRE below the northern part of the Ardmore pit (adding confidence and continuity to the MRE in this area),” Warriedar Resources said in its ASX announcement.

“These outcomes, while stemming from only a small part of the overall current phase of drilling, continues to demonstrate the outstanding MRE growth potential that exists at Ricciardo and along the broader ‘Golden Corridor’ trend.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Great Boulder Resources Scores Gold Hits in Mulga Bill North AC Drilling

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THE DRILL SERGANT: Great Boulder Resources (ASX: GBR) reported results from aircore (AC) drilling undertaken at the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources completed the AC drilling at the Mulga Bill North target that has added definition to gold mineralisation approximately 500m north of the Mulga Bill resource envelope.

The company explained the program is part of an ongoing process it is carrying out to identify and define additional gold mineralisation to expand the existing 568,000 ounces gold Mulga Bill Mineral Resource.

Highlights include:

24SWAC214
12m at 2.61 grams per tonne gold from 88m, including 4m at 4.27g/t gold from 93m;

24SWAC216
4m at 5.03g/t gold from 84m and 3m at 2.31g/t gold from 112m;

24SWAC211
3m at 2.68g/t gold from 114m; and

24SWAC220
9m at 1.95g/t gold from 100m.

“We use AC drilling to identify pathfinder elements and gold anomalism, so intersecting high-grade mineralisation is always a great result,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“These results sit between 500m and 800m north of the Mulga Bill mineral resource.

“There is very little effective drilling between this area and the high-grade drill results we announced last month from drilling further south, which highlights the scale and potential of the Mulga Bill North area.

“We’re starting to see west-dipping high-grade veins, including the result in 24SWAC214…and we will be looking to extend these with further drilling.

“Another outcome from this program is the identification of a dacitic unit on the eastern margin of the drilling.

“This is significant because dacitic volcaniclastics host the high-grade mineralisation at Mulga Bill, suggesting we should extend our drilling further east.

“Meanwhile we have assays pending on 45 AC holes from Polelle, which is the first drilling we’ve completed there, and we’ll be drilling again soon at Saltbush and Mulga Bill North.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Centaurus Metals Delivers Strong Economics from Jaguar Feasibility Study

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THE BOURSE WHISPERER: Centaurus Metals (ASX: CTM) has completed a Feasibility Study looking into development of the company’s 100 per cent-owned Jaguar nickel sulphide project in the Carajás Mineral Province of northern Brazil.

Centaurus Metals reported the outcomes of the Jaguar Feasibility Study demonstrate the potential for Jaguar to become a sustainable, long-term and low-cost producer of low-emission nickel for global markets, generating strong financial returns while also delivering social and economic benefits for local communities.

The company claims Jaguar as currently being one of the largest undeveloped nickel sulphide projects globally and a highly strategic potential source of unencumbered nickel concentrate product, particularly for the EV battery supply chain.

The Feasibility Study only took into account the mining of open pit nickel sulphide ore over an initial 18-year mine life, delivering nickel sulphide feed to a 3.5 million tonnes per annum conventional nickel flotation plant to produce approximately 18,700 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of US$2.30/lb and AISC of US$3.57/lb, on a contained nickel basis.

“The compelling economics and forecast financial returns outlined in the Study confirm Jaguar’s outstanding fundamentals and our long-standing belief that we have one of the world’s best new nickel sulphide projects, both from an economic and sustainability perspective,” Centaurus Metals managing director Darren Gordon said in the company’s ASX announcement.

“The Study shows that Jaguar has a clear pathway to development, forming the cornerstone of our strategy to build a Brazilian strategic minerals business to benefit our shareholders, our people and the communities where we operate.

“The delivery of the Jaguar Feasibility Study puts us firmly on a path to achieve this vision, with compelling economics and ESG credentials that will be highly sought after as the world continues to transition to electrification.

“The Feasibility Study shows a project which yields outstanding financial and economic returns while at the same time delivering significant social benefits to our local communities over a long period of time.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caprice Resources Completes West Arunta Acquisition

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THE BOURSE WHISPERER: Caprice Resources (ASX: CRS) has purchased real estate in the highly prospective rare earth hotspot of the West Arunta region of Western Australia.

Caprice Resources has completed acquisition of 90 per cent of the Bantam project consisting of four tenements (one granted, three applications), providing it with the fourth largest land holding in the region.

The project is adjacent to and shares a 30km long border with WA1 Resources’ (ASX: WA1) West Arunta project, host to the world class Luni niobium-REE discovery.

Caprice has taken confidence from the WA1 Luni and Pachpadra niobium discoveries, along with Encounter Resources’ recent Crean niobium discovery, which it considers have highlighted the region’s prospectivity for niobium and rare earths, generating a new geological model targeting niobium rich carbonatites, hosted within carbonate rich subduction zones along regional and local fault zones.

“With the formal completion of the Bantam project, following our comprehensive due diligence review, encompassing geological, geophysical, tenement and heritage considerations, we are now ready to commence our exploration activities in the West Arunta,” Caprice Resources chairman Glenn Whiddon said in the company’s ASX announcement.

“The acquisition secures Caprice a commanding land position, the fourth largest ASX-listed exposure, in this highly fertile and chronically underexplored region which is being proven to host world class discoveries.

“Geophysical works will commence this month and we look forward to building our relationship with the local Kiwirrkurra community as we work through the appropriate heritage approvals process.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

American West Metals Hits Copper Leading Into Summer Drilling Season

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THE DRILL SERGEANT: American West Metals (ASX: AW1) reported an encounter with a new zone of thick, near-surface high-grade copper at the company’s Storm copper project on Somerset Island, Nunavut, Canada.

American West Metals received assays from its spring drilling program undertaken in The Gap area of the project, which is located midway between the Cirrus deposit and the Thunder high-grade copper prospect.

The drilling at The Gap intersected a thick interval of high-grade copper sulphides associated with an EM anomaly of 20 metres at 2.3 per cent copper from 38m downhole containing copper grades up to 7.3 per cent copper (from 41m downhole), which the company declared to continue to confirm the association of EM anomalies with very high-grade, semi-massive copper sulphides.

“Results for the spring phase of the program have immediately built on last year’s great discovery record and confirmed a new zone of thick, near-surface copper mineralisation at the Gap prospect, with grades over seven per cent copper,” American West Metals managing director Dave O’Neill said in the company’s ASX announcement.

“Drilling at The Gap clearly demonstrates that the southern graben area hosts multiple high-grade copper deposits along the largely untested fault network.

“Multiple high-priority EM targets are yet to be tested in this area, highlighting the exceptional exploration upside and potential for further discoveries.”

American West Metals has kicked off its summer drilling program testing a range of exploration and resource targets, including the Thunder, Cyclone and Chinook deposit areas.

The program will initially use two RC rigs and one diamond drilling rig with a total of over 20,000m of drilling planned for the 2024 program.

“The summer drilling will now aim to build on this with a significantly expanded work program that will initially see two Reverse Circulation (RC) rigs and one diamond drilling rig operating 24/7,” O’Neill said.

“The introduction of the track mounted RC drill rig this year has exceeded our expectations in terms of production capacity and operational flexibility, and this will help us achieve over 20,000 metres of planned drilling during the season.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE