Aurelia Metals Confirms Potential of Peak Deeps

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THE DRILL SERGEANT: Aurelia Metals (ASX: AMI) received assay results from drilling carried out on the Peak Deeps system at the company’s Peak gold mine near Cobar in New South Wales.

Aurelia Metals completed the 19-hole resource extension and infill program in the Peak Deeps area in February and assays from the first 12 holes have returned multiple high-grade gold and base metal intercepts.

The company has now received assays for the final seven holes drilled in this program that returned results including:

UD19PP1538
39 metres at 6.9 grams per tonne gold, 20.3 per cent lead+zinc (Pb+Zn), 32g/t silver and 0.9 per cent copper;

UD18PP1533
11m at 8.4g/t gold, 4.5 per cent Pb+Zn, 4g/t silver and 0.1 per cent copper;

UD18PP1534
9m at 0.7g/t gold, 18.7 per cent Pb+Zn, 15g/t silver and 0.1 per cent copper; and

UD19PP1542A
3m at 4.9g/t gold, 7.7 per cent Pb+Zn, 32g/t silver and 1.1 per cent copper.

Aurelia said these latest results highlighted the high-grade potential of the Peak Deeps system, with mineralisation open at depth and along strike.

The company considers the association of strong lead and zinc mineralisation with high-grade gold (as seen in UD19PP1538) further enhances the comparison to the Chronos ores currently being mined.

Following the completion of up-dip extensional drilling at the Chronos lode, Aurelia has now re-commenced underground drilling in the Peak Deeps area.

The company indicated the new program will aim to infill and extend the high-grade mineralisation already identified, comprising 14 holes for 4,200 metres of drilling.

“The first phase of drilling at Peak Deeps is complete with the second phase already underway,” Aurelia Metals managing director and CEO Jim Simpson said in the company’s announcement to the Australian Securities Exchange.

“The company is very excited about the longer term prospects of this orebody and intends to fast track development to access the high-grade and develop more drilling platforms to identify extensions both deeper, laterally and potential up dip.”

 

Email: office@aureliametals.com.au

Website: www.aureliametals.com.au

 

Red 5 Identifies New Regional Targets at KOTH

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THE DRILL SERGEANT: Red 5 (ASX: RED) is full steam ahead at the company’s King of the Hills (KOTH) gold mine in Western Australia.

Red 5 has a regional Reverse Circulation (RC) drilling program underway as well as a review of existing exploration datasets that has delivered a series of new high-priority targets.

The company said the RC program is designed to test five Tier-1 near-mine regional targets – Cerebus, Eclipse, Centauri, Cavalier and Puzzles.

The drilling program is targeting opportunities for near-term gold production, with the aim of generating early mill feed for a potential stand-alone gold processing facility at KOTH.

A recently-completed geophysicsreview by Southern Geoscience Consultants (SGC) identified new high-priority targets along the Ursus and Tarmoola Fault Zones’ structural corridors.

These datasets were composited to form a detailed litho-structural interpretation acrossthe KOTH tenure, resulting in multiple new exploration targets, of which 22 have been ranked as high-priority.

Further assessment of each target is now underway to prioritise for drill planning.

“The results from the processing of both the geophysical data by Southern Geoscience and the review of the historical exploration data confirms that just about the entire length of both the Tarmoola and Ursus Fault Zones is alive with discovery opportunities,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We now have drilling underway to test five initial targets, and we are building a strong pipeline of new opportunities that we will progressively and systematically test over the coming months.

“Mineralisation delineated to date within the KOTH area varies from shallow to steep dipping, with our data review indicating that a significant proportion of historical drilling may not have been deep enough to effectively test the ground for mineralisation.

“There are also large gaps between drill holes along the Ursus Fault Zone.

“The untapped potential within this region is very exciting.

“This near-mine regional exploration program at KOTH represents an important element of our bulk mining strategic review, with the real potential for these targets to deliver early mill feed for a potential future stand-alone processing plant on site, which we expect could enhance the economics of a future bulk mining operation.”

 

Email: admin@red5limited.com

Website: www.red5limited.com

 

Tanga Resources Hits Impressive Scores with Hagenhof Copper Samples

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THE BOURSE WHISPERER: Tanga Resources (ASX: TRL) has identified new copper and copper-gold targets at the company’s Hagenhof project in Namibia.

Tanga Resources has currently mapped over eight kilometres of strike at Hagenhof in a Katangan-style metallogenic setting that remains open to the east.

At Liv’s Hill, Tanga has mapped and sampled outcropping stratabound copper mineralisation over 450 metres of strike.

Average surface copper grades from 16 samples is 0.62 per cent copper, with a peak of 5.75 per cent copper.

Anomalous cobalt values of up to 0.19 per cent were reported in several rock chip samples.

Tanga said there is no evidence of any previous work being carried out at Liv’s Hill.

Copper Cap is located one kilometre to the north of Liv’s Hill.

Three samples returned gold values ranging from 0.154 grams per tonne gold to a peak value of 1.1g/t gold and are associated with high barium values, very high copper values (up to 0.6 per cent copper) and high vanadium levels (up to 0.14 per cent).

Additional rock chip samples showed showed visual copper mineralisation with assay results still pending.

Initial sampling from Jette’s Hill, located three kilometres west of Liv’s Hill, returned copper values of over two per cent copper and anomalous gold of over 0.5g/t gold from surface rock chip samples in secondary copper mineralised (chrysocollamalachite) gossanous dolomite and micaceous schist.

“We have now defined a stratigraphic mineralised horizon extending over eight kilometres from the original Main Gossan, eastwards through several new targets at Jette’s Hill, Copper Cap and Livs Hill, which hosts extensive stratabound copper and gold mineralisation,” Tanga Resources CEO Matthew Bowles said in the company’s announcement to the Australian Securities Exchange.

“We are excited by this latest round of results that have identified additional, new copper/gold targets and further highlights the significant potential at Hagenhof.

“Our Technical Director, John Stockley, has worked extensively in the Zambian Copper Belt and is impressed with the overall similarities to the Katangan-style copper mineralisation.

“We look forward to securing the final Environmental Clearance Certificate, which will permit us to commence our maiden drill program, starting at the Main Gossan, where historical drilling has already reported intersecting copper mineralisation.”

 

Email: info@tangaresources.com.au

Website: www.tangaresources.com.au

 

De Grey Mining Hits Encouraging Gold at Toweranna

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) received new RC drilling results from the Toweranna gold deposit within the company’s Pilbara gold project in Western Australia.

De Grey Mining said the results comprise the first 12 holes of a planned Resource extension drilling program, targeting lateral and depth extensions to the existing shallow 2018 Toweranna Mineral Resource of 2.01 million tonnes at 2.2 grams per tonne gold for 143,900 ounces.

The company expects drilling to recommence within two weeks, having been delayed due to recent heavy rains associated with tropical Cyclone Veronica.

The latest results include lateral extensions to the existing shallow resource and numerous new lodes at depth, between 100 metres and 200m below surface.

Essentially all new drilling results occur outside of the modelled lodes within the existing resource.

Best bulk intersection in the latest results was encountered in hole TRC138, of:

136 metres at 2 grams per tonne gold from 94m, including 26m at 3.07g/t and 29m at 4.38g/t.

Other high-grade gold intersections below 100m included:

TRC138
29m at 4.38g/t gold from 201m, including 1m at 41.9g/t gold and 2m at 29.9g/t gold;

TRC131
6m at 6.45g/t gold from 135m, including 1m at 20.3g/t gold;

TRC133
6m at 3.5g/t gold from 204m; and

TRC134
3m at 7.02g/t gold from 150m and
5m at 5.04g/t gold from 218m, including 1m at 22.9g/t gold.

“We are very pleased with these new drill results as they confirm strong gold mineralisation occurs to at least 200 metres below surface and material resource extensions are likely with further drilling,” Ge Grey Mining technical director Andy Beckwith said in the company’s announcement to the Australian Securities Exchange.

“The potential to extend resources from 200 to 400 metres depth will be our next focus.

“The bonanza high-grade nature of some of the individual veins is also particularly encouraging as it suggests selective or bulk underground mining methods may be possible.

“Importantly, the new drilling shows Toweranna has multiple stacked lodes across the entire intrusion, strong mineralisation extending at depth and remains open.

“This is a new style of mineralisation for the Pilbara and similar style deposits elsewhere around the world validates the potential for large scale and multi-million-ounce resources.”

 

Email: admin@degreymining.com.au

Website: www.degreymining.com.au

 

Metro Mining Recommences Bauxite Hills Operations

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THE BOURSE WHISPERER: Metro Mining (ASX: MMI) has recommenced operations at the company’s Bauxite Hills mine, north of Weipa, marking the end of the wet season.

Metro focus during the wet months was on expanding the project’s production target for 2019.

Metro carried out maintenance on fixed and mobile plant, completed upgrade and beautification works in the camp, and finished haul road maintenance and upgrades.

In readiness for an increase in production in 2019 the port area was increased in size and the layout changed to improve traffic flow.

Stockpile management systems were modified to improve quality control systems.

Mining and haulage operations commenced in late March/early April, focusing on building stocks in preparation of the first ship.

Screening, stockpiling and barge loading at the port is underway, as are ship-loading activities from the stocks on hand with a second ship due to arrive soon.

Both shipments are to be delivered to Metro’s foundation customer Xinfa.

The company indicated it was progressing the Definitive Feasibility Study (DFS) for Stage 2 of the project as planned and is anticipated to be finalised within this quarter.

“We are very pleased with what has been achieved on site and welcome our new and returning personnel to Bauxite Hills,” Metro mining managing director and CEO Simon Finnis said in the company’s announcement to the Australian Securities Exchange.

“Now we have laid the groundwork I am very confident the team will meet this calendar year’s revised production target of 3.5 million Wet Metric Tonnes (WMT) and build on last years’ successes.

“After the break for the wet season we are very much looking forward to getting back into operation.”

 

Email: info@metromining.com.au

Website: www.metromining.com.au

 

Oz Minerals Meets West Musgrave Earn-In Requriements

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THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced that its Joint Venture partner in the West Musgrave Project (WMP), OZ Minerals (ASX: OZL) has satisfied its 70 per cent earn-in requirements.

Cassini Resources explained that under the Earn-in/Joint Venture agreement, OZ Minerals has satisfied the 70 per cent (Stage 2) earn-in milestone by contributing a total of $36 million towards the Nebo-Babel Pre-Feasibility Study (PFS) and regional exploration.

OZ Minerals’ affection for the project is demonstrated by it achieving the earn-in milestone 14 months earlier than required under the agreement.

“OZ Minerals has now notified, and Cassini are satisfied, that this expenditure commitment has been met,” Cassini Resources said.

The PFS for Nebo-Babel remains on track and is scheduled for completion by OZ Minerals late Q2/early Q3 2019, after which OZ Minerals will continue to sole fund the Nebo-Babel Studies until a Definitive Feasibility Study and decision to mine is delivered.

In respect of any amount funded by OZ Minerals in excess of $36 million, Cassini will be loan-carried for its 30 per cent contribution, with principal and capitalised interest to be repaid five years after the commencement of production at the WMP.

On the back of the Cassini announcement, OZ Minerals relayed that following the 2018 infill drilling program undertaken to increase Resource confidence it was able to release an updated Mineral Resource estimate for the Nebo-Babel deposits at the WMP.

OZ Minerals said that the JV’s confidence in the Resource has increased through conversion from the lower, inferred category to the higher, indicated category.

Inferred Resource conversion has resulted in a 26 per cent increase in Indicated Resources to 141 million tonnes.

Indicated Resources now comprise 59 per cent of the total Nebo-Babel Resource.

The 2018 drilling increased the amount of Indicated Mineral Resources at Babel from 73.9 million tonnes in 2017 to 108 million tonnes in 2019.

Indicated Resources at Nebo have remained relatively unchanged from 2017 to 2019, however strategic drilling, including two areas of close spaced drilling, have increased geological understanding of the deposit.

Drilling is continuing at both Nebo and Babel, including resource infill and resource extension.

Drilling of other targets in the area including Succoth and One Tree Hill are part of a separate exploration drilling program being conducted and managed by Cassini under the JV arrangements.

“This is another positive step towards realising the considerable potential of the Musgrave Province,” OZ Minerals chief commercial officer Mark Irwin said.

“Infill and extension drilling is continuing for the Nebo-Babel deposits and the uplift in resource confidence resulting from the 2018 drilling program will feed into our ongoing mine design optimisation.

“Our confidence in the project continues to build and we remain focused on our goal of maximising project value.”

 

Email: admin@cassiniresources.com.au
info@ozminerals.com

Website: www.cassiniresources.com.au
www.ozminerals.com

 

Spectrum Metals Continues Penny North Golden Run

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THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) received assay results from a further eight holes from recent drilling at the company’s Penny North prospect, located south of the Youanmi mining centre in Western Australia.

The assay results included intercepts of:

SPWRC027
2 metres at 140 grams per tonne gold from 153m, within 6m at 47.4g/t gold from 150m;

SPWRC029
6m at 46.8g/t gold from 121m, within 11m at 25.8 g/t gold from 121m;

SPWRD024
2m at 12g/t gold from 173m;

SPWRC028
1m at 16.2 g/t gold from 172m; and

SPWRC030
1m at 11.4 g/t gold from 175m.

Spectrum Metals said the intersection in hole SPWRC029 was encountered immediately up dip of previously released hole SPWRC002, which recorded an intersection of 8m at 23.3g/t gold within 14m at 14.4g/t gold from 128m.

Spectrum refer to SPWRC002 as the ‘discovery hole’.

“The Penny North prospect continues to deliver exceptional results for Spectrum, remaining open in all directions,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.

“We are currently designing and preparing for our Phase II drilling program to expand on our recent discoveries both at the Penny North prospect and under the open pit at Penny West.”

 

Email: info@spectrummetals.com.au

Website: www.spectrummetals.com.au

 

Canyon Resources Identifies 70 New Bauxite Targets

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THE DRILL SERGEANT: Canyon Resources (ASX: CAY) completed a LiDAR (light imaging, detection and ranging) and high resolution ortho-photographic survey over the company’s Minim Martap project area in Cameroon.

Canyon Resources said the survey had identified more than 70 additional bauxite plateaux across its three permits.

Canyon processed data from the LiDAR survey into a highly accurate and detailed digital elevation model (DEM), which identified the exact size, location and elevation of more than 70 additional plateaux on the Minim Martap, Makan and Ngaoundal permits, which are not already included in the existing Mineral Resource Estimate for the project.

The company explained the newly identified plateaux represent 65 per cent of all the plateaux surface area identified at the target elevation on the three Minim Martap project permits.

To date, plateaux investigated at this elevation have consistently contained 7 metres to 15m thick, high-grade, low contaminant bauxite.

The 70 new plateaux represent an additional area of 65.4 square kilometres compared with the current resource area which is identified across 35.6sqkm.

“This LiDAR survey is the first time a detailed survey of all the bauxite plateau on the Minim Martap project has ever been completed,” Canyon Resources managing director Phillip Gallagher said in the company’s announcement to the Australian Securities Exchange.

“It is pleasing to see that the untested bauxite plateaux that can be seen into the distance when visiting the project, are all at a similar elevation as the identified high-grade bauxite plateaux.

“Our past experience from the Birsok project confirmed that the elevation of a bauxite plateau in that region is a key driver of the grade, level of contaminants and width of the bauxite on the plateau.

“The Minim Martap project has the potential to be one of the largest and highest grade bauxite deposits globally and it is located alongside operating and accessible rail infrastructure.”

The Minim Martap project has a JORC Code 2012-compliant resource of 550 million tonnes at an average grade of 45.5 per cent total aluminium oxide (Al2O3) and total 2.06 per cent silicon dioxide (SiO2).

In March 2019, Canyon announced a very high-grade resource of 250.9 million tonnes at 50.8 per cent Al2O3 (total) and 1.9 per cent SiO2 (total) as part of this resource, which it claimed validated its theory the project is one of the highest grade, very low silica bauxite resources globally.

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

OZ Minerals Completes West Musgrave 70% Earn-in

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THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced that its Joint Venture partner in the West Musgrave Project (WMP), OZ Minerals (ASX: OZL) has satisfied its 70 per cent earn-in requirements.

Cassini Resources explained that under the Earn-in/Joint Venture agreement, OZ Minerals has satisfied the 70 per cent (Stage 2) earn-in milestone by contributing a total of $36 million towards the Nebo-Babel Pre-Feasibility Study (PFS) and regional exploration.

OZ Minerals’ affection for the project is demonstrated by it achieving the earn-in milestone 14 months earlier than required under the agreement.

“OZ Minerals has now notified, and Cassini are satisfied, that this expenditure commitment has been met,” Cassini Resources said in its ASX announcement.

The PFS for Nebo-Babel remains on track and is scheduled for completion by OZ Minerals late Q2/early Q3 2019, after which OZ Minerals will continue to sole fund the Nebo-Babel Studies until a Definitive Feasibility Study and decision to mine is delivered.

In respect of any amount funded by OZ Minerals in excess of $36 million, Cassini will be loan-carried for its 30 per cent contribution, with principal and capitalised interest to be repaid five years after the commencement of production at the WMP.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Cassini Resources Exercises Yarawindah Option

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THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) exercised its option to acquire 80 per cent of the Yarawindah Brook nickel-copper-cobalt-PGE project in Western Australia.

The acquisition comes through acquiring 80 per cent of the issued capital of Souwest Metals Pty Ltd, a private company associated with Kalgoorlie prospector Scott Wilson.

“The Yarawindah Brook project offers Cassini a well-priced entry into an exciting, early-stage exploration project that allows us to leverage our expertise in nickel-copper sulphide systems, and provides Cassini with further exposure to the evolving battery metals thematic,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“Cassini’s technical team have generated a number of priority targets that we look forward to drilling as soon as the access agreements have been finalised.”

The Yarawindah Brook project is located northeast of Perth, on agricultural land near the township of New Norcia.

It has had limited nickel, copper and cobalt exploration, despite a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper mineralisation.

Historic exploration focussed primarily on a small platinum and palladium (PGE’s) resource which Cassini views as a pathfinder anomaly for potential massive nickel – copper – cobalt sulphides.

The company completed an airborne electromagnetic survey (AEM) over the project in early 2018 identifying conductors it determined worthy of further investigation.

A surface fixed loop electromagnetic (FLEM) survey has also been completed over some of the higher-priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling.

Cassini said the FLEM reinforced the XC05 and XC06 anomalies as priority targets along with down-plunge testing of YWRC083.

The company has been encouraged enough by exploration results to date to add further tenements along strike, taking the total land position to146 square kilometres.

Cassini is currently seeking an access agreement with local landholders and environmental approvals in preparation for drill testing.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au