St George Mining Continues Producing Results at Mt Alexander

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THE DRILL SERGEANT: St George Mining (ASX: SGQ) related progress of drilling underway at the company’s Mt Alexander project, located near Leonora in the north Eastern Goldfields of Western Australia.

St George Mining recently completed two drill holes – MARC093 and MARC094 – at the eastern margin of the Fairbridge prospect to test a large chargeable anomaly the company has interpreted to be the western extension of the mineralised ultramafic at the Cathedrals prospect.

Both drill holes intersected thick intervals of ultramafic rocks and nickel sulphide mineralisation.

The company said the interim results it has received demonstrate that the mineralised ultramafic dips to the north, with stronger nickel sulphide mineralisation at depth.

A large chargeable anomaly has been modelled to the north of MARC094, at a vertical depth from surface of approximately 250m.

St George is set to commence the first ever drilling of this large anomaly.

“The drill program at Mt Alexander continues to deliver exciting results and further hits of thick nickel sulphide mineralisation,” St George Mining executive chairman John Prineas said in the company’s announcement to the Australian Securities Exchange.

“Initial drill results at Fairbridge fit very well with our geological model for the Cathedrals Belt, which interprets the ultramafic unit dipping to the north with potential for further mineralisation down-plunge.

“This is encouraging for the remaining nickel sulphide drill targets at Fairbridge – particularly the large chargeable anomalies recently identified down plunge of the known mineralisation at the Cathedrals Belt.

“At West End, the downhole EM surveys continue to identify conductive material.

“This supports the potential continuation of the mineralised ultramafic to the west of Investigators and increases our confidence to complete a series of drill holes all the way to the Ida Fault in the west.

“Extensional drilling between Investigators and Stricklands has also delivered success with a new zone of nickel sulphide mineralisation discovered in this previously undrilled 500-metre east-west strike of the Cathedrals Belt.

“This kind of geologically driven and systematic exploration is the foundation for most major discoveries.

“We are very pleased with the positive results achieved already in the current drill program and the potential for more significant results as the drilling continues over the coming weeks.”

 

Website: www.stgm.com.au

 

Bellevue Gold Extends Strike at Viago and Tribune Lodes

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THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) reported strike extensions to the Viago and Tribune Lodes within the company’s Bellevue gold project in Western Australia.

Recent drilling undertaken on the Tribune Lode has increased strike to over 1,000 metres where it remains open.

Bellevue Gold said the drilling encountered high-grade mineralisation in the Tribune Mineralised Shear, which has now been extended approximately 350 metres north of the original resource envelope (currently 650m of strike length) and a further 50m south and remains completely open.

Diamond drill core hole DRDD111 returned an intersection of 6m at 24.9 grams per tonne gold from 188 metres downhole indicating further high-grade ore shoots 350m to the north hosted in the Tribune Shear.

This intercept is in the hanging-wall to the historic Bellevue Mine while high-grade mineralisation has also been extended further south with the most southern hole drilled at Tribune.

This hole, DRDD112 intersected 6.5m at 22.2g/t gold from 96m down hole.

Bellevue explained the high-grade lode positions at Tribune are defined by plunging ore shoots controlled by fold axes within the shear zone.

These folds at Tribune have an analogous fold asymmetry and plunge lineation to mineralisation at the Bellevue lode located just 300m to the east.

Other drilling has confirmed the Viago Lode discovery by doubling its strike length to 1,400m also remaining open both north and south.

First pass broadly spaced diamond core drilling has extended the initial resource envelope of 750m strike length by approximately 550m to the north in the hanging wall of the Bellevue Mine and a further 200m to the south.

The previously reported Viago resource is 550,000 ounces at 22g/t gold of inferred category resources over a strike length of only 750m.

A downhole EM survey (DHEM) indicated the continuation of the EM plates into this area, which Bellevue says to be are largely untested.

The company said the DHEM plates are similar to what it had encountered during its first pass drilling when it discovered the Viago Lode.

Follow up drilling will now target these DHEM plates.

Five diamond drill core holes intersected the Viago Lode with visible fine-grained gold present in all drill holes.
The most northern hole (DRDD111) intersected 2.6m at 15.4g/t gold from 397.7m.

Hole DRDD128 intersected 2.4m at 15.4g/t gold from 445.4m.

Hole DRDD114 returned 4m at 14.8g/t gold from 544.6m.

To the south, Bellevue has extended the Viago Lode a further 200m with initial broad reconnaissance step-out drilling.

This drilling to the south has shown the Viago Shear to be more split than the northern Viago Shear, often into two or three mineralised shears associated within a much broader and strongly sheared zone.

Here diamond drill hole DRDD101 returned 3.9m at 8.1g/t gold, including 0.35m at 78.2g/t gold.

Hole DRDD120 returned 1.7m at 34.6g/t gold from 623.7m.

“Since the latest resource estimate upgrade at the ‘Bellevue Surrounds’ in January the drill rigs have moved from Bellevue Surrounds resource area and have commenced step-out extensional drilling at the Viago, Tribune and Bellevue Lodes,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“We are extremely excited by this latest round of first pass step-out drill holes that confirm both Viago and Tribune Lodes extend a significant distance both north and south and also that the high-grade mineralisation remains open.

“The discovery of the Viago Lode continuing to the north is extremely encouraging and we are looking forward to the next phase of drilling that will infill and target the high priority DHEM conductors in this new mineralised area.

“There is a startling resemblance of the Viago North drilling to the initial drilling at the Viago discovery prior to the later infill drilling and drill testing of high tenor DHEM conductors.

“We are continuing with four diamond core drill rigs at site to target high priority DHEM targets at Viago North, resource definition as well as further step-out extension drilling at the Tribune, Viago & Bellevue Lodes.

“The company expects to update the Bellevue project resource estimate in the 2nd Quarter this year.

“Ongoing drill results continue to confirm that the Bellevue gold project is a globally significant high-grade gold discovery.”

 

Email: admin@bellevuegold.com.au

Website: www.bellevuegold.com.au

 

FYI Resources Produces 99.999% (5N) Alumina

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THE BOURSE WHISPERER: FYI Resources (ASX: FYI) has produced 99.999 per cent purity alumina (Al2O3) during continued product development and benchmark variability test work for the company’s HPA (high purity alumina) project bankable feasibility study (BFS).

FYI Resources declared the purity of 99.999 per cent alumina was independently analysed and verified by Ultra Trace Pty Ltd in Perth.

The company achieved the 99.999 per cent product grade from testwork conducted as part of the BFS designed to provide data and information from the process flowsheet results of the laboratory-based test work as a replication of the full scale (production sized) process design and Locked Cycle testing.

“Achieving 99.999 per cent or 5N HPA is an extremely encouraging result,” FYI Resources managing director Roland Hill explained in the company’s announcement to the Australian Securities Exchange.

“Not only is it an incredible outcome to attain this level of purity, it also has a potentially profound impact on the overall project economics.

“Whilst focusing on the 4N as the predominant HPA market segment, FYI sought to produce 5N HPA to demonstrate the flowsheet effectiveness, as well as to develop an additional product line that could supply a market that displays forecasted long-term growth at a significant premium to the 4N market.

“Demonstrating the strong premium to the 4N market, Allied Market Research estimates 4N HPA product to sell in a range from US$30,000 to $35,000 per tonne in 2018/19 versus over US$50,000 per tonne for 5N.

“We believe the ability to generate such a ultra-high purity product continues to demonstrate the Cadoux kaolin project is world-class potential and we look forward to progressing discussions with possible end use customers.”

 

Website: www.fyiresources.com.au

 

De Grey Mining Drilling for Toweranna Resource Potential

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) has been encouraged by recent drilling results at the Toweranna gold deposit to declare it an initial resource exploration target.

De Grey Mining has commenced a Resource extension RC drilling program at Toweranna, which forms part of the company’s 1.4 million ounce Pilbara gold project (PGP), located near Port Hedland in the Pilbara region of Western Australia.

The company has set a corporate goal of increasing overall project resources at PGP to two million ounces by the end of the 2019.

Toweranna is considered one of four highest priority targets, along with Withnell Underground, Mallina and Mt Berghaus, for substantial resource extensions De Grey considers will likely impact the 2 million tonnes per annum PFS it currently has underway.

The Toweranna deposit currently hosts a shallow resource of 2 million tonnes at 2.2 grams per tonne gold for 143,900 ounces (JORC 2012) to approximately 100-120m depth.

Recent assessments by De Grey have determined the Toweranna deposit to be under drilled with potential to extend both the shallow resources to the east within the granite body and to increase resources at depth.

De Grey said further resource extension drilling is warranted to enable the final proposed open pit limits to be accurately defined.

Recent RC drilling intersected mineralisation in both Eastern and Western Zones, with results including:

Eastern Zone

TD002
5.8 metres at 5.79 grams per tonne gold from 140.2m, including 1.6m at 16.04g/t gold from 140.2m; and

TD003
7m at 4.02g/t gold from 8m, including 1m at 22g/t gold from 8m.

Western Zone

TD007
10.4m at 4.93g/t gold from 8m, including 3.25m at 12.51g/t gold from 11m; and

4.8m at 9.94g/t gold from 48.2m.

“Toweranna is growing in stature with every drill hole and the shallow resource potential to 200-250 metres depth provides the opportunity to underpin a substantial step-change in the future open pit dimensions and economics,” De Grey Mining technical director Andy Beckwith said in the company’s announcement to the Australian Securities Exchange.

“This new style of mineralisation in the region demands attention with high priority resource extension drilling underway.

“On the regional exploration front, we are assessing two early stage targets for similar style granite hosted gold, one to the east of Toweranna and another southwest of Mt Berghaus.”

 

Email: admin@degreymining.com.au

Website: www.degreymining.com.au

 

Venture Minerals Targeting Renison-Style Tin at Mt Lindsay

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) is about to conduct a high-resolution Airborne Electromagnetic (EM) survey over the company’s Mount Lindsay tin-tungsten project in Tasmania.

Venture Minerals has charged UTS Geophysics to use its VTEMTM Max system with the aim of identifying further high-grade tin targets, including those with the potential to host Renison Bell style mineralisation.

Previous exploration at Mount Lindsay has identified potential tin targets located within carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the nearby Renison Mine, one of the world’s largest and highest-grade tin mines.

Venture believes the VTEMTM Max system is an ideal exploration tool for making discoveries for the Renison style of tin mineralisation at Mount Lindsay.

The company outlined the aim of the EM survey being to generate drill targets that may lead to further tin discoveries that could enhance future development of the Mount Lindsay tin-tungsten project.

With this in mind, Venture is advancing a recently commissioned Underground Scoping Study it anticipates optimising the higher-grade portions at Mount Lindsay, that previously reported resources including 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent tungsten.

Venture hopes to leverage on the feasibility work previously completed.

“All the geological factors make the Mount Lindsay’s Renison style targets a compelling proposition for the company to test, and it looks forward to delivering those results in the near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“Should a new tin discovery result at this time of high price, it would be of great benefit to the project and the company.”

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Excore Resources Hits More Good News at Antoinette

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THE DRILL SERGEANT: Exore Resources (ASX: ERX) reported the latest results from RC drilling at the Antoinette deposit within the company’s Bagoe project, that forms part of its Cote d’Ivoire gold projects.

Exore Resources has completed a Phase One RC drilling program at the Antoinette Central discovery of 62 drill holes designed to infill sections to allow for resource definition, and to test for down-dip extensions along with the step-out drilling along strike to the north and south.

The latest shallow, high-grade intersections from Antoinette Central include:

11m at 11.59 grams per tonne gold from 89m;

15m at 9.96g/t gold from 80m;

8m at 10.33g/t gold from 105m;

21m at 4.32g/t gold from 96m;

5m at 15.64g/t gold from 158m;

18m at 3.34g/t gold from 42m;

9m at 5.11g/t gold from 28m; and

4m at 10.41g/t gold from 63m.

“The RC drilling results we are seeing from Antoinette Central continue to reinforce our view that this is shaping up to be a very exciting, high-grade gold discovery,” Excore Resources managing director Justin Tremain said in the company’s announcement to the Australian Securities Exchange.

“With approximately 9,000 metres of RC drilling completed at Antoinette, we are looking forward to receiving further results and undertaking a second phase of drilling in a few weeks.

“In the meantime, the RC and AC rigs are continuing to operate at Veronique and stepping out in Antoinette region to begin testing some of our many targets within the Bagoe project.

“We are looking forward to reporting initial results from the first ever aircore drilling on the Veronique in the coming days.”

 

Email: info@excoreresources.com.au

Website: www.excoreresources.com.au

 

Black Cat Syndicate Continues Bulong Gold Mineralisation Run

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has been busy of late at the company’s Bulong gold project, east of Kalgoorlie in Western Australia.

Black Cat Syndicate announced a maiden JORC 2012 Mineral Resource Estimate at Bulong in February totalling 1.4 million tonnes at 2.5 grams per tonne gold for 109,000 ounce of gold.

Recent activity at Bulong included the first 2019 drilling program designed to extend Resources at the Boundary, Myhree and Trump deposits.

Drilling at Myhree was designed to test the high-grade plunge component to the mineralisation as well as shallow holes to test the north of the deposit.

In total, four holes were drilled returning best results of:

19MYRC001
7 metres at 4.25 grams per tonne gold from 152m;

19MYRC001
2m at 4.75g/t gold from 170m; and

19MYRC004
3m at 1.73g/t gold from 62m.

RC drilling at Boundary aimed to extend mineralisation to the south and to test for a potential new parallel lode to the east of Boundary South.

The program consisted of six holes that followed on from recent diamond drilling.

Best results from Boundary included:

19BORC001
5m at 2.52g/t gold from 57m (Boundary South);

19BORC003
1m at 4.08g/t gold from 90m (Boundary South); and

19BORC005
1m at 3.47g/t gold from 63m (Potential new lode east of Boundary South).

RC drilling undertaken at Trump consisted of six holes that extended the zone of continuous mineralisation at Trump an additional 100m to the north.

“All of these drill results sit outside our current Resource models and show that we are on track to substantially increase Resources during 2019,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“All Resources remain open along strike and at depth.

“Our next extensional drilling program is imminent.

“Particularly pleasing is the depth extension at Myhree.

“Myhree continues to deliver thick high-grade intersections.

“The current optimised pit shells at Myhree and Trump sit only 50 metres apart.

“Expanding the size of any potential pit at Myhree may well benefit the economics of open pit mining at Trump.”

 

Email: admin@blackcatsyndicate.com.au

Website: www.blackcatsyndicate.com.au

 

Canyon Resources Zeros in on High-Grade Bauxite Zones

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THE BOURSE WHISPERER: Canyon Resources (ASX: CAY) reported a “very high-grade” Inferred Resource of 250.9 million tonnes at 50.8 per cent aluminium oxide (Al2O3) (total) and 1.9 per cent silicon dioxide (SiO2) (total) within the existing resource at the company’s Minim Martap project in Cameroon.

Canyon Resources said the new Resource was defined following a detailed review of previous exploration on the Minim Martap project that identified zones of extremely high-grade bauxite with very low contaminants within the existing bauxite resource.

The company declared the Resource to have validated its theory that the project is one of the highest grade very low silica bauxite resources globally, with clear potential to substantially grow the scale of the very high-grade zones.

The review determined that more than 50 per cent of the previously announced resource on the Minim Martap licence has a grade above 50.8 per cent Al2O3.

The high-grade sections within the individual plateau highlight trends that are consistent with Canyon’s interpretation of the project’s geology.

“By conducting a more detailed assessment of the historic resource, we have identified significant areas with very high-grade aluminium oxide and low total and reactive silica on all of the Minim Martap licence plateaux,” Canyon Resources chief geologist Alexander Shaw said in the company’s announcement to the Australian Securities Exchange.

“The remarkably high-grade, combined with very low levels of contaminants, and significant cumulative volume of greater than 250 million tonnes of bauxite in these areas further reinforces the fact that the Minim Martap project bauxite deposit is a true global tier 1 bauxite resource.

“We are utilising the information from this resource analysis to assist to target the drilling campaigns, to identify new high-grade zones at the Minim Martap project.”

Canyon is continuing its exploration drilling program at Minim Martap, focussing on the high-grade zones identified from the previous data.

The company has completed 157 holes for a total of 1,556m drilled.

Samples from the drilling are currently in the process of being assayed by ALS in Ireland.

Drilling is continuing at the Minim Martap permit, targeting bauxite zones that are consistent with the very high-grade zones identified by the resource review.

Plans are currently being implemented to extend the drilling onto new and previously undrilled bauxite plateaux on the Minim Martap and Makan permits that have also been identified as being consistent with the very high-grade bauxite zones.

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

Musgrave Minerals Continues to Intersect Thick A-Zone Gold

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) announced further assay results from diamond drilling underway at the A-Zone gold target at Lake Austin North, near the Break of Day gold deposit within the company’s Cue project in Western Australia’s Murchison district.

Musgrave Minerals explained the second phase of diamond drilling on the A-Zone has to date completed seven holes with gold assay results now received for the first six holes.

The company has now defined basement mineralisation at A-Zone over 500m of strike below an 800m long regolith (weathered rock) gold halo that was identified from aircore drilling.

Although it is developing the geological model, Musgrave noted most of the current phase of diamond drilling at A-Zone has not adequately tested the high-grade target zones due to dip variability along strike and at depth and further drilling is required.

New intercepts include:

19MODD003
295 metres at 0.33 grams per tonne gold from 83.8m down hole, including 6.4m at 3g/t gold from 83.8m;

19MODD002
90.6m at 0.33g/t gold from 152.2m down hole, including 2.2m at 4.83g/t gold from 152.2m; and

19MODD006
70.1m at 0.66g/t gold from 144.7m down hole, including 4.6m at 4.17g/t gold from 149.8m.

“Diamond drilling is continuing to intersect thick zones of alteration and gold mineralisation in the basement at A-Zone where the system remains open along strike and at depth,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The ongoing focus will be to define the higher-grade zones within the system and drill test the new targets defined by the current lake aircore drilling.

“The supergene gold blanket that sits in the weathered zone is up to 350 metres wide on some sections, so there is the potential for multiple ore positions on each section that are yet to be drill tested.

“We remain highly encouraged by the size of the gold system at Lake Austin North, and as each hole is drilled our understanding of the system increases.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

 

Western Australia Climbs Fraser Institute Rankings

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COMMODITY CAPERS: There was good news for Western Australian mining types in the Fraser Institute Annual Survey of Mining Companies for 2018.

This year the institute managed to evaluate 83 jurisdictions, compared to the 91 jurisdictions evaluated in 2017, 104 in 2016, 109 in 2015, and 122 in 2014.

Western Australia moved up from fifth in 2017 to take out second place on the survey’s top jurisdiction in the world for investment based on the Investment Attractiveness Index.

The Fraser Institute overall Investment Attractiveness Index is constructed by combining the Best Practices Mineral Potential index, which rates regions based on their geologic attractiveness, and the Policy Perception Index, a composite index that measures the effects of government policy on attitudes toward exploration investment.

The only jurisdiction to do better than WA was Nevada, which moved up from third place in 2017.

WA was the only Australian jurisdiction to rate a spot in the survey’s Investment Attractiveness Index top 10.

Narrowing the field to encapsulate Australia and Oceania provided Australian jurisdictions with more joy.

On this list WA took top spot with Queensland second.

Fiji prevented an Aussie trifecta by taking third spot pushing Northern Territory into fourth and South Australia to fifth.

New South Wales, Victoria, and Tasmania maintained some respect by finishing above The Philippines.

The Fraser Institute Policy Perception Index (PPI), which the institute describes as “A report card to governments on the attractiveness of their mining policies” provided some encouragement to local jurisdictions.

Victoria and WA both improved their PPI scores by more than 10 points this year with Victoria taking its ranking from 52nd (of 91) in 2017 to 43rd (of 83) in 2018.

Respondents to this year’s survey expressed less concern over Victoria’s political stability (-17 points), uncertainty regarding the administration, interpretation, or enforcement of existing regulations (-13 points), and the taxation regime (-11 points).

Western Australia enjoyed a big jump in its score and rank, moving up to 5th (of 83) from 17th (of 91) last year, as fewer respondents rated the state’s taxation regime (-23 points), political stability (-15 points), and uncertainty concerning environmental regulations (-12 points) as deterrents to investment.

New South Wales enjoyed an increase of eight points over last year, improving its ranking to 53rd (out of 91) in 2017 to 47th (out of 83) in 2018.

This year miners were less worried about trade barriers (-10 points), although they did have higher concern over the legal system (+14 points).

Despite an increase in the rankings, New South Wales is Australia’s lowest ranked jurisdiction when considering policy factors alone.

Comments from respondents regarding some of the local jurisdictions, included:

New South Wales

Frequent changes to policy, poor consultation with industry, and frequent changes to regulatory staff are concerning for investors.
An exploration company president.

Getting access to Crown Lands is much more difficult than accessing private lands, which poses challenges for investors.
An exploration company senior management.

South Australia

Poor and flawed legislation relating to the Mining Act (1971) is a major concern for investors. Although the legislation has been acknowledged as flawed by the government, no attempt is being made to address its deficiencies in the latest amendments.
An exploration company president.

Victoria

Victoria’s high electricity prices are a deterrent for investors.
An exploration company chairman.

Victoria’s moratorium on onshore gas exploration is a deterrent for investors.
A producer company with less than US$50M company president.

Western Australia

Western Australia’s environmental policies and permitting requirements are streamlined and easy to understand. In addition, well-documented environmental, economic, and social requirements create a positive experience for investors.
An exploration company other senior management.

Western Australia’s wonderful new data sets are stimulating exploration in the region.
An exploration company manager.

 

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