Peel Mining to Advance Mallee Bull Decline

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) and CBH Resources have agreed to seek regulatory approval to establish an exploration decline at their Mallee Bull 50:50 Joint Venture project, located near Cobar in western New South Wales.

Peel Mining indicated the decline is to enable definition drilling and exploration from underground of the deeper portions of the deposit, and to obtain a bulk sample of the Silver Ray zinc-lead-silver lens for processing at CBH’s Endeavor Mine.

Following completion of development studies into the project’s advancement, an exploration decline has been deemed by the JV partners as a low risk path to unlock the value of the multitude of high-grade base metals-rich drill intercepts recorded at Mallee Bull where deep drilling has highlighted the project’s economic potential.

Should the underground exploration prove fruitful, the JV intends seeking approval for conversion to a full mining operation.

Regulatory approval for the exploration decline is anticipated to take between six to 12 months and is being sought via a Review of Environmental Factors (REF) which is being submitted to the NSW Department of Planning and Environment – Resources Regulator.

“The advancement of Mallee Bull via an exploration decline is a logical, low-risk way to unlock the project’s obvious economic potential and we are extremely pleased to see the project moving forward,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“Given the exceptional grades of copper mineralisation at depth, and the nature of the deposits in the Cobar Basin, Peel and CBH have formed the view that there is strong potential for a significantly economic operation to exist at Mallee Bull.

“Mallee Bull is a Cobar-style deposit and is viewed by the JV as a CSA-mine analogue.

“It is worth noting that CSA is amongst the highest-grade copper mines in the world and is operating at more than 1,700 metres below surface.”

 

Email: info@peelmining.com.au

Website: www.peelmining.com.au

 

Emmerson Resources Funded for Continued Exploration at Mauretania

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THE BOURSE WHISPERER: Emmerson Resources (ASX: ERM) is well-funded for more exploration at the company’s Mauretania project following the completion of a placement and receipt of additional gold royalty payment funds.

Emmerson Resources said the completion of the second tranche placement at a premium to its current share price is a strong sign of continued support from its Joint Venture partner Territory Resources.

“This now completes the conditions subsequent to the previously announced Exploration and Small Mines Joint Venture over the Southern Project area of Emmerson’s Tennant Creek project,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.

Emmerson recently received the second royalty payment from the toll treatment of the first parcel of ore from Edna Beryl, bringing the total to date to around $242,000.

Most of the value from the processing of the first 3,000 tonne parcel is anticipated from the processing of the gravity concentrate, which is now in progress.

“Toll treatment of the first 3,000 tonnes of ore from the Edna Beryl mine is nearing completion and Emmerson continues to receive a 12 per cent royalty on all gold produced from the mining and processing funded by Territory.

“The processing of the gravity concentrate component from toll treating of the first parcel of ore from Edna Beryl is now underway and is expected to generate the majority of revenue from this campaign.

“Proceeds from the first royalty payment from CIL recovery are being used to undertake the first diamond drilling at our exciting 100 per cent-owned Mauretania discovery, and to fund further geophysical programs in the Tennant Creek Mineral Field.”

Diamond drilling is currently underway at the Mauretania project in the Northern Project Area at Tennant Creek where the first drill hole has intersected brecciated hematite ironstone in the oxide zone, which is geologically akin to previous Reverse Circulation (RC) drilling.

 

Email: admin@emmersonresources.com.au

Website: www.emmersonresources.com.au

 

AVZ Minerals Increases Manono Resource and Confidence

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THE DRILL SERGEANT: AVZ Minerals (ASX: AVZ) has increased resource confidence levels of the company’s 60 per cent-owned Manono lithium and tin project in the Tanganyika Province of Democratic Republic of Congo (DRC).

AVZ Mineral’s heightened confidence stems from an upgrade in the current Mineral Resource for the project, so much so the company now claims Manono as being the largest Measured and Indicated lithium Resources in the world.

The new figures show a 41.7 per cent increase in combined Measured and Indicated Resources, up from 189.8 million tonnes to 269 million tonnes at 1.65 per cent lithium oxide (Li2O), 816ppm tin and 36ppm tantalum.

The improvement in Mineral Resource confidence comes from 67 per cent of total Mineral Resources now classified as Measured and Indicated, up from 47 per cent previously.

The improved Resource category also provides AVZ with further certainty to production schedules and financial modelling for the 5 million tonnes per annum Scoping Study currently underway.

“This resource upgrade represents another major step forward in the company’s plans for development of the Manono project,” AVZ Minerals managing director Nigel Ferguson said in the company’s announcement to the Australian Securities Exchange.

“This update provides further assurances as to the demonstrated world-class scale, grade and nature of the Manono project.

“We are encouraged by the results of the upgrade in resource categories which were expected given the results of the drilling program.

“This ongoing work shows us that Manono will continue to grow significantly and will be underpinned by a high-grade Measured and Indicated Mineral Resource for the majority of the Roche Dure pegmatite drilled to date.

“The greatly increased confidence level in sections of the Roche Dure Mineral Resource is more than sufficient to support the production schedules and financial modelling within the 5 million tonnes per annum scoping study, which is now close to completion.

“With Manono confirmed as the world’s largest lithium deposit, we are increasingly confident that the project will continue to develop into production and potentially become a world leading source of lithium and tin.”

 

Email: admin@avzminerals.com.au

Website: www.avzminerals.com.au

 

Blackstone Minerals Acquires Interest in Vietnamese Nickel Project

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) rocked the auditorium on Day One at the RIU Sydney Resources Roundup by announcing it was entering a binding term sheet for the exclusive option to acquire a 90 per cent interest in the Ta Khoa nickel project.

The Ta Khoa nickel project is located 160 kilometres west of Hanoi in the Son La Province of Vietnam and includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance.

The Ban Phuc nickel mine perated as a mechanised underground nickel mine from 2013 to 2016 and its previous owners invested more than US$136 million in capital and generated US$213 million in revenue during a 3.5-year period of falling nickel prices.

The project was placed into care and maintenance in mid-2016 during some of the lowest nickel prices in the past 10 years.

Existing infrastructure associated with the project includes an internationally-designed 450,000 tonne per annum processing plant connected to local hydro grid power with a fully-permitted tailings facility and a modern 250- person camp.

Blackstone Minerals also has its eyes on the potential the project offers with the 150 square kilometre land package hosting more than 25 advanced stage massive sulphide vein (MSV) targets and many large disseminated sulphide (DSS) targets including the unmined Ban Phuc DSS.

Blackstone also signal its interest in investigating the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium ion battery industry.

“This is an exciting opportunity for Blackstone to acquire a 90 per cent interest in a project that has a history of profitable nickel production even during low nickel prices,” Blackstone Mineral managing director Scott Williamson said ni the company’s announcement to the Australian Securities Exchange.

“Blackstone will be the first company to explore Ta Khoa for both MSV and DSS nickel sulphide deposits all the while investigating downstream processing opportunities to meet the demands of the growing Asian lithium ion battery sector.”

 

Email: admin@blackstoneminerals.com.au

Website: www.blackstoneminerals.com.au

 

Barra Resources Completes Burbanks Phase 2 Drilling

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THE DRILL SERGEANT: Barra Resources (ASX: BAR) has completed a Phase 2 Air Core (AC) drilling program aimed at extending known mineralisation along the Burbanks North Trend, part of the company’s Burbanks gold project in Western Australia.

Barra Resources completed the 99-hole Air Core drilling campaign at Burbanks, completing drill testing of 1,000 metres of strike length along the Burbanks North Trend.

The drilling defined mineralisation over an additional 300m of strike length with interim results for 50 per cent of holes the company has received to-date returning results that include:

20 metres at 2.37 grams per tonne gold from 8m down-hole;
8m at 4.3g/t gold from 20m down-hole;
4m at 4.24g/t gold from 20m down-hole; and
13m at 1.06g/t gold from 44m down-hole.

Barra indicated it would now commence the estimation of a Maiden Mineral Resource.

The company said the results exceeded expectations by extending the gold mineralisation at Fangjaw to at least 300m of strike length.

Further results are due in over the next few weeks for drilling that tested the system a further 300m to the north, including the area where the Fangjaw shear intersects with the Burbanks North shear.

“The remaining results from the second half of the current program will be reported shortly,” Barra Resources said in its ASX announcement.

“All mineralised intercepts will then be re-split at one-meter intervals, giving greater resolution of high-grade distribution than the assays of four-metre composite samples reported here on an interim basis.”

Based on the gold mineralisation reported in this announcement, the company’s earlier drilling programs, and the expectation of further positive results, Barra indicated it will now move forward to estimating a maiden shallow oxide Mineral Resource for the Burbanks North Trend.

“This will continue the trajectory towards realising the previously announced Exploration Target for the Burbanks project,” the company said.

 

Email: info@barraresources.com.au

Website: www.barraresources.com.au

 

De Grey Mining Receives Positive Ore Sorting Results

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THE DRILL SERGEANT: De Grey Mining reported on preliminary ore sorting test work undertaken on geological samples from the Toweranna gold deposit within the company’s Pilbara gold project in Western Australia.

De Grey noted that mineralised quartz and sulphide vein material was efficiently separated from non-mineralised host granitoid and sediments with single pass laser sorting.

The results also showed the sorting was effective at a coarse feed size of 20mm to 100mm with negligible quartz observed in the reject fraction, indicating very low ore loss.

De Grey considers the results are excellent and clearly demonstrate the potential to upgrade and concentrate the quartz vein material prior to trucking to the proposed processing plant.

“The results provide additional confidence that ore sorting may provide significant added benefits through enhanced grade increases that may enhance future economics at Toweranna,” De Grey Mining said in its ASX announcement.

“Further test work is considered warranted.”

The company considers the application of ore sorting at Toweranna has potential to improve project economics and increase gold production through:

Facilitation of bulk mining that would reduce unit mining costs and ore loss experienced in selective mining and capture additional mineralisation outside the modelled resource;
Rejection of waste material ahead of milling, leaching and tails disposal leading to lower processing costs; and
A possible reduction in ore transport costs.

The company indicated ongoing conventional metallurgical test work, ore sorting test work and financial evaluation is considered warranted.

It already has further activities planned that include finalising metallurgical test work on the purpose drilled PQ core, which is already well advanced by ALS Metallurgy.

 

Email: admin@degreymining.com.au

Website: www.degreymining.com.au

 

Helix Resources JV Drilling to be Funded By Partner JOGMEC

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THE DRILL SERGEANT: Helix Resources (ASX: HLX) has been advised by its Joint Venture partner, Japanese organisation JOGMEC that it has received internal approvals to commit to funding the exploration drilling phase of the Samuel copper project JV.

Helix Resources said a US$800,000 ($1.13 million) contribution from JOGMEC will sole-fund a minimum 3,000 metres of diamond drilling in an additional 8 to 10 holes, fulfilling its funding commitment to Stage 2 of the Samuel Joint Venture Agreement.

The Stage 2 Program will be completed over a shortened six-month period to the end of September 2019.

Drill collar positions at priority targets have been approved by the JV Management Committee.

Helix said the aggressive timeframe and program commitment ensures early drill testing of up to 10 priority target areas derived from the Stage 1 field activities, and maximises copper exploration at the Samuel project over the coming months that is considered prospective for both Mantostyle and Porphyry-style copper (+gold) systems.

“Our JV Partner, the highly regarded Japanese organisation JOGMEC, informed us of their desire to immediately commit to the exploration drilling phase of the Samuel JV on a shortened timeframe,” Helix Resources managing director Mick Wilson said in the company’s announcement to the Australian Securities Exchange.

“This commitment to this drilling-focused phase of the JV is an exciting development, with drilling news flow expected throughout the second and third quarters of 2019 from the Samuel copper project.

“Importantly, Helix retains a material exposure to another large copper asset in this world-class jurisdiction, and it allows Helix to continue to focus our main efforts on the advancement of our flagship copper assets in New South Wales.”

 

Email: helix@helix.net.au

Website: www.helix.net.au

 

Magnetic Resources Raises $3.1M to Fund Ongoing Exploration

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THE BOURSE WHISPERER: Magnetic Resources (ASX: MAU) received applications for approximately $3.1 million via a placement of new shares at 28 cents per share.

Magnetic Resources had initially sought to raise $2.5 million, but accepted oversubscriptions due to strong demand shown from existing and new shareholders.

The company indicated the funds raised will be predominately used at the Hawks Nest 9 project for a shallow program of 96 RC holes totalling 3360 metres, which is expected to be finished by May 2019 and a number of follow up deeper RC program starting with a 20 hole 3000m program in late June 2019.

Metallurgical and scoping studies will commence in August 2019 with additional funds used for general working capital requirements.

“The company is continuing to undertake an aggressive drilling program as it continues to define additional mineralisation and ultimately a resource,” Magnetic Resources managing director George Sakalidis said in the company’s announcement to the Australian Securities Exchange.

“These funds will allow the company to fully explore the known mineralisation and test targets at depth.”

 

Website: www.magres.com.au

 

Heron Resources Identifies High-Potential Drill Targets

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THE DRILL SERGEANT: Heron Resources (ASX: HRR) reported results of an IP geophysical survey at the company’s wholly-owned Woodlawn zinc-copper project in New South Wales.

Heron Resources explained the program consisted of a modern IP survey within the company’s granted mining lease, covering an area of 4 kilometres by 2.4km directly north of the Woodlawn Mine.

The survey delineated a number of IP anomalies, with two key targets taking prominence: a coincident chargeability and conductivity anomaly at the Murphy’s prospect; and a large chargeability anomaly at the Bucklands North prospect.

Both anomalies lie on Heron’s granted mining lease and within 2.5km of the Woodlawn plant site, currently being commissioned.

“Our exploration team is focusing on the area around the Woodlawn Mine with the specific aim of discovering a new Woodlawn-style deposit,” Heron Resources managing director and CEO Wayne Taylor said in the company’s announcement to the Australian Securities Exchange.

“Modern geophysical techniques are ideally suited for this style of mineralisation and this IP survey has generated some of the most exciting responses since the discovery of the Kate Lens electro-magnetic anomaly.

“We look forward to mobilising a drilling rig in the coming weeks to drill test these anomalies.”

 

Email: heron@heronresources.com.au

Website: www.heronresources.com.au

 

 

Galan Lithium Hits Conductive Brines Drilling Fifth Hole at Candelas

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) is currently drilling the fifth drill hole at the company’s Candelas lithium brine project located on the Hombre Muerto salar in Argentina.

Galan Lithium said that field measurements indicate that the upper levels of a brine bearing aquifer have been encountered by the hole and that the geological sequence largely replicates that observed in the earlier drill holes incorporating a thick layer of ignimbrite lying below surficial alluvial cover.

The company explained that hole has encountered a sequence of sands and clays hosting salty waters which then turned to brines hosted within a permeable breccia-conglomerate.

Conductivity measurements from brine samples taken from packer testing an interval from 280m to 320m exceeded the 200 millisiemens/cm limits of the field recording instrument whilst high specific gravity was recorded at 1.195g/cm3.

Drilling is ongoing and when completed, downhole geophysical logging will be conducted, and further packer tests performed to collect samples for analyses.

“The discovery of further brines confirms that there is consistent brine coverage over a large area in this northern part of the Candelas channel,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange

“The result reinforces our view that the project has the potential to host a significant lithium resource on one of the world’s premium salars at Hombre Muerto.

“We look forward to finalising the hole and confirming that grades and impurity levels are consistent with those already observed in this area.”

 

Website: www.galanlithium.com.au