Matsa Resources Encouraged by Fortitude North Drilling

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) received results from diamond and RC drilling undertaken at Fortitude North within the company’s Lake Carey gold project in the Eastern Goldfields of Western Australia.

Matsa Resource’s recent drilling at Fortitude North has indicated a primary gold mineralised zone that dips moderately towards the east northeast and remains open for 1.5 kilometres to the south.

The drilling consisted of a single diamond drill hole drilled for stratigraphic and structural definition purposes.

The hole intersected primary gold mineralisation with a best intercept of:

8 metres at 2.94 grams per tonne gold from 106.25m, including 5.75m at 3.8g/t gold and 1.3m at 6.73g/t gold.

Matsa has interpreted this intersection to be the down-dip extension of previously announced high-grade gold intersections in RC and aircore drilling located at the northern end of a aircore gold anomaly of which 80 per cent remains untested by RC or diamond drilling.

“Further drilling is planned, including lake diamond drilling over the southern part of the basement gold mineralisation,” Matsa Resources said in its ASX announcement.

 

Email: reception@matsa.com.au

Website: www.matsa.com.au

 

Genesis Minerals Confirms Orient Well Open Pit Potential

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) has been encouraged by new drilling results achieved at the company’s 100 per cent-owned Ulysses gold project, south of Leonora in Western Australia.

Genesis Minerals is currently progressing a multi-pronged exploration program at Ulysses targeting depth extensions of the main 760,000-ounce Mineral Resource in parallel with an expanding regional exploration campaign.

The company expects to incorporate results from recent and upcoming drilling in a 2019 Mineral Resource later this year.

Recent reverse circulation (RC) drilling intersected new mineralisation at Orient Well NW, 10 kilometres east of the current Ulysses Mineral Resource, highlighting the potential to delineate shallow Resources in this area which are potentially amenable to extraction via open pit methods.

Follow-up drilling at Orient Well NW confirmed a zone of shallow gold mineralisation with new assays including:

19USRC345
45 metres at 1.77 grams per tonne gold from 60m, including 20m at 3.37g/t gold from 85m;

19USRC346
15m at 0.74g/t gold from 120m, including 5m at 1.1g/t gold from 125m; and

19USRC348
5m at 1.5g/t gold from 50m.

New results received from pre-collar RC drilling completed ahead of diamond drilling targeting depth extensions of the main Ulysses Resource highlight potential for a new gold mineralised structure north of the Ulysses shear, including:

19USDH068
1m at 12.4g/t gold from 42m; and

19USDH071
4m at 6.92g/t gold from 53m, including 1m at 25.1g/t gold.

“The Orient Well area is shaping up as a potentially important source of shallow oxide ore within the broader project area,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“The drilling completed to date has so far tested just a 250-metre strike length of a four-kilometre-long target zone – highlighting the exciting opportunity that continues to emerge in this area.

“The results generated to date will be incorporated in a maiden Mineral Resource estimate later this year.

“We are also seeing the potential for a plunging high-grade shoot position at Orient Well which will be further evaluated with diamond drilling this month to help us understand the structural controls on the mineralisation.

“An extensive air-core program will also commence this month to evaluate the potential along the broader four-kilometre long corridor.

“In the meantime, our extensional diamond drilling program continues to forward this month, with drilling targeting down-plunge positions well beyond the 760,000-ounce Resource envelope.

“First assays for this program should be available later this month.

“We have also commenced the process of applying for a Mining Lease for Orient Well NW, which reflects our growing confidence in the potential of the project to move quickly towards development.”

 

Website: www.genesisminerals.com.au

Carawine Resources Commences Major Geophysical Program

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THE DRILL SERGEANT: Carawine Resources (ASX: CWX) has kicked off a major geophysical program at the company’s Paterson project located in the Paterson Province of Western Australia.

In February this year, Carawine Resources announced the identification of six priority target areas at the Red Dog and Baton projects from a combination of historic drill and geological data and re-processing of airborne magnetic and electromagnetic (EM) geophysical data.

Each prospect contains many elements common to the major deposits and recent discoveries in the Paterson region, including prospective host rocks, geophysical anomalies, and intrusion-related (skarn-style) alteration.

The company anticipates the results of the program will be used to identify targets for drill testing later this year.

Our Paterson tenements were pegged prior to the recent increase in activity within the region, so we were able to secure areas with the right host rocks, under shallow cover, and limited historic exploration,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“The commencement of our Paterson exploration campaign therefore represents an important and exciting stage for the company.

“We are using geophysical methods proven to be successful in the region, particularly on ground similar to ours, and which have led to several major discoveries in the region.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Metalicity Strikes Earn-in with Nex Metals

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THE BOURSE WHISPERER: Metalicity (ASX: MCT) has entered a farm-in agreement with Nex Metals Explorations (ASX: NME) for the Kookynie and Yundamindra projects in the Eastern Goldfields of Western Australia.

Metalicity said exploration to commence during May with drilling planned for June quarter.

Metalicity, as part of the Farm-In, is required to initially spend a minimum $500,000 within 12 months, moving to a total of $5 million spend within and up to five years to earn 51 per cent of the projects inclusive of the initial spend and time duration.

At that point, a Joint Venture is anticipated to be formed between the parties.

“This deal provides us with access to one of the Eastern Goldfields’ last remaining underexplored, significant production centres,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“The team at Metalicity have significant experience in this region with over 30 years of combined district experience in successful exploration including the Raleigh and Sunrise Dam mines.

“These projects provide Metalicity with the opportunity to define significant gold resources, building off historic exploration, by employing modern techniques and science.

“Exploration will commence during May, a fast start due to the experience of Metalicity’s team and the cooperative work undertaken with NEX’s on the ground team.

“Through a results-based exploration program across both projects our goal is to develop a significant resource and reserve base, from which to eventually commence a sustainable mining operation focusing on grade and margin.

“This is a very exciting development, Metalicity’s stated three-part strategy of near-term production assets, the very large Admiral Bay zinc asset through our holding in Kimberley Mining and the extensive early stage land holding the Paterson Province and Fraser Range is coming together.”

 

Website: www.metalicity.com.au

 

Todd River Resources Confirms High-Grade Core at Hendrix

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THE DRILL SERGEANT: Todd River Resources (ASX: TRT) received assay results from an ongoing drilling program at the company’s 100 per cent-owned Mt Hardy copper-zinc project in the Northern Territory.

Todd River Resources has planned approximately 5,000 metres of Reverse Circulation (RC) and diamond drilling as part of its current phase of exploration, targeting strike extensions and in-fill at the Hendrix high-grade copper-zinc discovery and other high priority targets at Mt Hardy.

The drilling intersected high-grade core within a thick zone of base metal sulphides in the central zone at Hendrix, returning:

MHDD0056
3.04 metres at 18 per cent zinc, 3 per cent copper, 6.2 per cent lead, 148 grams per tonne silver from 519.16m down-hole within a broader zone of 22.2m at 31g/t silver, 0.7 per cent copper, 1.1 per cent lead and 3.7 per cent zinc from 509m.

“Drilling continues to deliver some very encouraging results from the central zone at Hendrix and we continue to expand the mineralisation there,” Todd River Resources managing director Will Dix said in the company’s announcement to the Australian Securities Exchange.

“In addition, we are progressing exploration at other prospects within the Mt Hardy project and we are excited about what some of the initial reviews of previous drilling is turning up, especially at the Lennox and Browns prospects where we will be drilling later this month.”

 

Email: corporate@trrltd.com.au

Website: www.trrltd.com.au

 

Galileo Mining Kicks Off Fraser Range Drilling

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THE DRILL SERGEANT: Galileo Mining (ASX: GAL) has drilling underway at the company’s Empire Rose and Yardilla South prospects in Western Australia’s highly prospective Fraser Range Belt.

Galileo Mining indicated the drilling program will consist of approximately 600 metres of RC pre-collars and 600m of diamond core tails.

The company has three initial holes planned with more work to be undertaken as results dictate.

Both the Empire Rose and Yardilla South prospects are well developed targets where initial shallow drilling, geophysical surveying, and geochemistry suggests potential for economic mineralisation at depths between 150m and 250m below surface.

“We are excited to begin our first diamond drilling campaign in the Fraser Range,” Galileo Mining managing director Brad Underwood said in the company’s announcement to the Australian Securities Exchange.

“The Fraser Range is a fast-developing mineralised province and we hope to make a discovery with the drilling we have planned.”

 

Email: info@galmining.com.au

Website: www.galileomining.com.au

 

Mareinca Energy Granted New Namibia EPLs

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THE BOURSE WHISPERER: Marenica Energy (ASX: MEY) has followed the granting of EPL 6987 (Koppies) last month, with the Namibian Ministry of Mines and Energy granting an additional four exclusive prospecting licences (EPL 7278, 7279, 7368 and 7436).

Marenica Energy sai the new EPLs has increased its ground position in the Namib area to 308 square kilometres.

The company considers the grant of these licences as an important step in the execution of its acquisition strategy adding it could now commence planning of exploration programs on these EPLs.

The shallow nature of the drilling and the low unit cost for drilling in Namibia enables extensive low-cost exploration to be undertaken.

Three of the newly granted EPLs are in the Namib region, adjacent to or within close proximity to the Koppies EPL, which incorporates the eastern extensions of the Tumas palaeochannel.

These EPL’s, plus three other EPL applications, incorporate areas that are interpreted to feed into the Tumas palaeochannel system which hosts multiple uranium deposits, including the Tumas and Tubas uranium deposits owned by Deep Yellow (ASX: DYL).

Marenica also announced that following a decision by the Government of Namibia to remove the requirement for local ownership of EPLs, to encourage foreign investment, it has been able to increase its ownership of the Namib tenements to 100 per cent.

“The grant of these new licences is an important step in executing our strategy in Namibia and compliments the grant of the Koppies EPL,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“It is also pleasing that Marenica has been able to consolidate its ownership of the Namib EPLs to 100 per cent.”

 

Website: www.marenicaenergy.com.au

 

Comet Resources Discovers Two High-Grade Graphite Zones

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THE DRILL SERGEANT: Comet Resources (ASX: CRL) announced discovery of two new, high-grade, graphite zones at the company’s 100 per cent-owned Springdale graphite project in Western Australia.

Comet Resources explained the new zones were discovered following a reconnaissance drill program targeting a series of electromagnetic (EM) anomalies along strike from a recently announced maiden Resource.

The company considers the two new graphite zones of some note as they host high-grade, near-surface mineralisation it believes has the potential to extend over several kilometres of strike.

The newly identified zones also confirm a strong correlation between high-grade graphite and the numerous EM anomalies identified by recent geophysical surveys.

High-grade intercepts include:

10 metres at 16.1 per cent total graphitic carbon (TGC) from 40m, including 7m at 21.6 per cent TGC; and

7m at 18.44 per cent TGC from 34m and 6m at 26.53 per cent TGC from 53m.

Comet suggested the discoveries suggest have potential to grow the current resource base with drilling confirming a strong correlation between EM anomalies and high-grade graphite horizons, improving future drill targeting.

“The shallow nature of the mineralisation in conjunction with the ability to use electromagnetic surveys to target high-grade mineralisation will aid our ability to cost-effectively increase the size of and certainty around our Resources,” Comet Resources CEO Philippa Leggat said in the company’s announcement to the Australian Securities Exchange.

“We are pleased with the new, high-grade discoveries and have Tony Cooper, my predecessor, to thank for his work in identifying the Springdale graphite project.

“He has developed a solid technical base for us to transition the project into the next stage of development.”

 

Email: comet@cometres.com.au

Website: www.cometres.com.au

 

Peel Mining Continues High-Grade Hits at Southern Nights

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported Resource definition drilling results from the company’s 100 per cent- owned Wagga Tank project, south of Cobar in western New South Wales.

Peel Mining said the Resource definition drilling has now been completed, on schedule and on budget, with work on the maiden mineral resource estimate underway and due for completion in June.

The company believes the Wagga Tank project, including Southern Nights, is emerging as an important zinc polymetallic discovery to be made Australia in recent years.

Drilling to date has defined the broader dimensions of the very high-grade mineralisation present at Southern Nights Central Zone (SNCZ) , along with infilling and extending the wider Southern Nights mineral system.

Importantly, mineralisation remains open along strike and down dip/plunge at both Wagga Tank and Southern Nights.

Resource drilling at Southern Nights delivered further exceptional intercepts including:

WTRCDD188
44.11 metres at 4.52 per cent zinc, 1.55 per cent lead, 0.06 per cent copper, 203 grams per tonne silver and 0.07g/t gold from 389.89m, including 1.99m at 23.88 per cent zinc, 10.96 per cent lead, 0.26 per cent copper, 3,548g/t silver and 0.11g/t gold from 389.89m and 2.27m at 18.91 per cent zinc, 6.4 per cent lead, 0.36 per cent copper, 268g/t silver and 0.28g/t gold from 402.16m;

WTRCDD190
21m at 4.94 per cent zinc, 1.77 per cent lead, 0.26 per cent copper, 65g/t silver and 0.11g/t gold from 401m, including 4.72m at 13.79 per cent zinc, 4.84 per cent lead, 0.24 per cent copper, 170g/t silver and 0.07g/t gold from 402.28m; and

WTRCDD192
23.42m at 9.23 per cent zinc, 5.41 per cent lead, 0.7 per cent copper, 125g/t silver and 0.47g/t gold from 351.58m, including 8m at 19.23 per cent zinc, 11.11 per cent lead, 1.36 per cent copper, 307g/t silver and 0.64g/t gold from 352m.

Full final assays for holes WTRCDD179, WTRCDD189 and WTRCDD199 extended the high-grade mineralised intercepts within these holes, and in WTRCDD189 identified a new broad copper-gold zone:

WTRCDD179
35m at 6.5 per cent zinc, 3.28 per cent lead, 0.37 per cent copper, 212g/t silver and 1.02g/t gold from 181m, including 3m at 16.67 per cent zinc, 6.78 per cent lead, 1.04 per cent copper, 437g/t silver and 0.76g/t gold from 185m and 2.9m at 30.34 per cent zinc, 18.24 per cent lead, 0.19 per cent copper, 415g/t silver and 0.38g/t gold from 193m;

WTRCDD189
12m at 15.68 per cent zinc, 7.45 per cent lead, 0.13 per cent copper, 170g/t silver and 0.31g/t gold from 336m, including 5.4m at 29.26 per cent zinc, 13.97 per cent lead, 0.22 per cent copper, 326g/t silver and 0.45g/t gold from 337.2m and 37m at 0.76 per cent copper, 0.46g/t gold, 13g/t silver 0.37 per cent zinc and 0.05 per cent lead from 364m; and

WTRCDD199
28m at 19.03 per cent zinc, 10.77 per cent lead, 0.24 per cent copper, 166g/t silver and 1.21g/t gold from 224m, including 16.35m at 28.09 per cent zinc, 15.77 per cent lead, 0.26 per cent copper, 270g/t silver and 1.8g/t gold from 224.75m.

“Detailed structural and geochemical studies are now underway to further develop the geological model in preparation for the maiden mineral resource estimate,” Peel Mining said in its ASX announcement.

“This work will also assist in generating future drill targets in this large mineralised system.”

 

Email: info@peelmining.com.au

Website: www.peelmining.com.au

 

Aurelia Metals Discovers High-Grade Mineralisation at Federation Prospect

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THE DRILL SERGEANT: Aurelia Metals (ASX: AMI) declared discovery of a new polymetallic mineral system at the Federation prospect, 10 kilometres south-southwest of the Hera Mine near Cobar in New South Wales.

Aurelia Metals explained the prospect is situated in the southern portion of its 100 per cent-owned Exploration Lease 6162.

In October last year Aurelia announced the discovery of near-surface polymetallic mineralisation at Dominion, located approximately one kilometre southeast of the Federation prospect, producing intercepts that were predominantly oxide or supergene in nature, including: 97 metres at 1 per cent copper and 2.4 per cent lead and zinc (Pb+Zn) in hole DRC017.

Aurelia said base metal sulphide mineralisation (zinc-lead-copper-gold-silver) had been discovered at the Federation prospect that is open in multiple directions with follow up diamond and RC drilling planned at depth and along strike.

Intercepts at Federation to date include:

5m at 22.6 per cent Pb+Zn and 3.07 grams per tonne gold;
6m at 21.1 per cent Pb+Zn and 0.33g/t gold;
6m at 16.9 per cent Pb+Zn and 0.62g/t gold;
4m at 23.4 per cent Pb+Zn and 0.28g/t gold; and
4m at 11.4 per cent Pb+Zn and 0.08g/t gold.

Shallow drilling at the nearby Dominion prospect returned the first notable sulphide copper intercepts, including:

5m at 2.8 per cent copper and 8g/t silver; and
5m at 2.2 per cent copper and 5g/t silver.

“The drilling at Federation is very encouraging, especially with assays showing the presence of gold mineralisation,” Aurelia Metals executive chairman & CEO, Cobb Johnstone said in the company’s announcement to the Australian Securities Exchange.

“Drilling at Dominion has unveiled primary copper mineralisation at relatively shallow depths.

“These results provide more evidence of the prospective nature of this region.

“Immediate follow-up is planned on a number of identified targets.”

 

Email: office@aureliametals.com.au

Website: www.aureliametals.com.au