Alliance Resources Takes Full Ownership at Wilcherry

/in , , /by

THE INSIDE STORY: Alliance Resources (ASX: AGS) has become 100 per cent owner of the Wilcherry project, located within the southern part of the Gawler Craton in the northern Eyre Peninsula of South Australia.

Alliance Resources has been the senior partner in the Wilcherry JV for some time and has now purchased the remaining 18.59 per cent of the project for $1.5 million from the subsidiary company of partner Tyranna Resources (ASX: TYX).

Finalising ownership means Alliance now owns 100 per cent of the high-grade Weednanna gold deposit where a mining and processing scoping study is in progress.

The deal also delivers an 80-person camp on leasehold land located just 45 kilometres from the proposed mine site, in the township of Kimba.

Importantly, it also eliminates the administrative burden and costs associated with operating a joint venture and will streamline the future statutory approvals required at the time Alliance submits a Mining Lease Proposal in respect of the Weednanna gold deposit.

“Buying the remaining interest now, rather than later, is a logical move for Alliance,” Alliance Resources managing director Steve Johnston told The Resources Roadhouse:

“The majority party must buy-out the minority party’s interest in the project when the latter’s interest falls to 10 per cent or less as outlined in our ASX announcement dated 23 September 2016.

“By the time Alliance earns 90 per cent in the project, 18 to 24 months from now, the enterprise value of the project may be much higher than it is now, especially as we move towards production.”

In September 2018, Alliance announced a maiden Mineral Resource estimate for the Weednanna deposit of 1.097 million tonnes at 5.1 grams per tonne gold for 181,000 ounces of gold.

Approximately 45 per cent of the Mineral Resource has been classified as Indicated and 55 per cent classified as Inferred.

The Indicated classification corresponds with areas of higher drilling density and the Inferred classification with areas of lower drilling density.

From this, the company has concluded that the Inferred Mineral Resource reflects both modelled gold shoots with limited drilling and a decrease in the density of drilling with depth.

In addition, zones within the top 100 metres of the Mineral Resource area lack drilling, which Alliance believes to have potential for the discovery of new gold shoots based on historical drilling.

The company explained that the reported Mineral Resource comprises that proportion of gold contained within $2,000 pit shells of greater than 0.5g/t gold and greater than 2g/t gold underground potential.

This signals potential to increase the size of the Mineral Resource with further drilling as all 13 modelled gold shoots are open at in at least one direction.

Eighty-three per cent of the Mineral Resource occurs within 120 metres of surface (1,253 ounces per vertical metre) and is readily accessible using open pit or underground mining techniques.

News of the Joint Venture buyout came on the heels of some encouraging exploration activity at and around the Weednanna project as part of Alliance’s strategy to identify the potential for additional gold mineralisation within five kilometres of Weednanna.

The first was an announcement of gold results Alliance had derived from the re-analysis of historic iron ore drill samples at the Weednanna North prospect.

The Weednanna North prospect was originally explored by Ironclad Mining between 2008 and 2012 for economic concentrations of iron ore, drilling 12 diamond holes, for 761.4 metres and 127 RC holes, for 12,786 metres.

During 2018, Alliance Resources had all historic RC and diamond holes from the Weednanna North prospect systematically relogged for cross-sectional interpretation and 3D geological modelling, resulting in the identification of gold mineralisation at the prospect.

Eleven holes returned above two grams per tonne-metre (grade by thickness), including a best result of:

10WNRC027
22 metres at 0.34g/t gold from 42m in, including 2m at 1.12g/t gold from 42m.

“The broad gold-anomalous intersections we have identified at Weednanna North are similar to what we have previously observed adjacent to the high-grade gold shoots at the Weednanna gold deposit,” Johnston said.

Geologically speaking, the Weednanna North prospect consists of a northwest striking zone of calc-silicate and magnetite skarn altered Paleo-Proterozoic Hutchinson Group metasediments that are bounded by Archaean Sleaford Complex granite and gneiss.

The geology is very similar to the Weednanna Gold Deposit and there appears to be similar structural positions to those that host gold at Weednanna.

Due to the iron ore-based exploration activities of the previous owner, the Weednanna North Prospect has not previously been drilled to target favourable structural positions that may host high-grade gold.

Alliance has interpreted the gold assay results from its re-analysis to confirm the gold prospectivity of the area and indicate that the Weednanna North prospect is a priority gold exploration target that warrants further drill testing.

Next up was results from aircore drilling Alliance had conducted for gold at the Weednanna East prospect.

A program consisting eighty-five aircore drillholes was completed for 3,101 metres as a first pass test to extend known gold in regolith anomalism at Weednanna East.

This drilling program involved drilling of four lines of 50m by 200m spaced holes designed to test around the existing gold in soil and regolith anomalism and extend coverage to the west of existing RAB drilling at Weednanna East to cover a series of northwest striking faults.

The company received one metre scoop assay results with four of the holes returning greater than 100ppb gold with a best result of:

18WDAC078
2m at 1.31g/t gold from 49m.

The drilling demonstrated a zone of discontinuous gold anomalism of greater than 100ppb gold extends over 1,000m and remains open in the north.

From what Alliance has seen to date, it has determined the majority of the gold anomalism to have a northeast trend that is located towards the end of hole, near a saprolite/saprock boundary.

Given the iron-poor felsic nature of these host rocks, this is where the company expects the gold in regolith anomalism to concentrate.

Alliance considers the magnitude and distribution of gold in the regolith may be indicative of primary gold mineralisation and further drilling is warranted to better define the gold in regolith anomalies before bedrock drill testing.

“Weednanna East is the first regional gold exploration target to be tested proximal to the Weednanna gold deposit,” Johnston explained.

“We are very encouraged by these aircore drilling results which indicate to us the prospectivity of the district.”

 

Alliance Resources Limited (ASX: AGS)
…The Short Story

HEAD OFFICE
Suite 3
51 – 55 City Road
Southbank, VIC, 3006

Ph: +61 3 9697 9090

Email: info@allianceresources.com.au
Web: www.allianceresources.com.au

DIRECTORS
Ian Gandel, Tony Lethlean, Steve Johnston

 

Riversgold Upgrades Farr-Jones Gold Potential

/in , /by

THE DRILL SERGEANT: Riversgold (ASX: RGL) received new high-grade gold results from recent drilling at the company’s 80 per cent-owned Farr-Jones gold prospect in the Eastern Goldfields of Western Australia.

Resampling of one metre samples from the company’s most recent aircore program and analysis by fire assay returned results of up to 1m at 6.72 grams per tonne gold.

Further results included the upgrading of aircore intersections at the Farr-Jones and Eales prospects of:

FJAC0002 (Farr-Jones)
4 metres at 0.73g/t gold from 49m, including 1m at 1.49g/t gold;
2m at 1.42g/t gold from 58m, including 1m at 2.15g/t gold.

FJAC0007 (North Farr-Jones)
1m at 1.76g/t gold from 45m;
6m at 2.03g/t gold from 85m, including 1m at 6.72g/t gold and 1m at 2.8g/t gold.

FJAC0012 (Eales)
3m at 1.92g/t gold from 56m, including 1m at 3.04g/t gold.

FJAC0015 (Eales)
4m at 1.11g/t gold from 39m, including 1m at 3.02g/t gold.

The company indicated it was awaiting re-analysis of samples from the Little prospect.

“The new assays indicate the potential for the FarrJones project to host economic grades of gold mineralisation over at least the 1.5-kilometre strike length between the Farr-Jones and Eales prospects,” Riversgold managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“So far, we have defined high-grade primary gold mineralisation at Farr-Jones and North Farr-Jones, including a fantastic intersection of 3m at 17.8g/t gold in the first hole we drilled at Farr-Jones.

“Last December, we tested a number of newly defined soil anomalies with aircore drilling for the first time and now have drill intersections greater than 3g/t gold in two aircore holes 200 metres apart at Eales as well as anomalous supergene gold mineralisation in several other holes.

“The Farr-Jones project, along with additional targets at Cutler and Ella, is shaping up as a potential new gold camp with the opportunity to define numerous gold occurrences adjacent to the Randall Fault.”

Riversgold is planning follow-up drilling at both the Farr-Jones and Cutler prospects, where a high-grade drill intersection of 1m at 62.9g/t gold at the northern end of the Cutler prospect has not yet been followed up.

 

Email: info@riversgold.com.au

Website: www.riversgold.com.au

 

Venture Minerals Intersects Further Massive Sulphides at Thor

/in , /by

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) conducted drilling at the company’s Thor prospect in Western Australia, intersecting further massive sulphides with copper and zinc mineralisation.

Venture Minerals said results from its last two drill holes suggest that drilling is vectoring in towards higher grade zones within the Thor Volcanogenic Massive Sulphide (VMS) sequence.

The company explained that, to date, the Thor project has seen only two single drill holes targeting two of thirteen priority VMS drill targets it has delineated around the initial discovery area.

Further drilling will go towards unlocking, what Venture believes to be, the potential of Thor’s 20-kilometre VMS target zone.

In this second drill campaign at Thor, Venture’s second drill hole (TOR05) intersected massive sulphide zones of up to 2.4 metres (271.45m to 273.85m) and returned assays of up to 0.8 per cent zinc and 0.5 per cent copper and highly anomalous cobalt of up to 435ppm.

Venture has interpreted the results to have confirmed the VMS style of the mineralisation.

“The company is encouraged by these latest results at Thor and is looking forward to unlocking the potential of the VMS project to deliver high-grade mineralisation in the near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

Venture claims Thor has the same EM and geochemical signature as Teck’s adjacent VMS Kingsley discovery, which is one of several VMS occurrences in the Archean Yilgarn Craton of Western Australia with the Golden Grove Camp (Mine), 370kms NNE of Perth, being the prime example with over nine VMS deposits spread over 13kms of strike.

At the end of 2002, Golden Grove had an endowment (resources and production) of 40.2 million tonnes at 1.8 per cent copper, 0.9 per cent lead, 7.6 per cent zinc, 103 grams per tonne silver and 0.8g/t gold.

In February 2017, EMR Capital purchased Golden Grove for US$210 million and states that after 27 years of production there is still over 10 years of mine life for the 1.3 million tonnes per annum operation.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Gold Search Stretches from WA to Alaska

/in , /by

THE INSIDE STORY: Perth-based exploration play Riversgold (ASX: RGL) is building on new gold discoveries in the Eastern Goldfields as it prepares for a second campaign in Alaska’s Tintina Belt.

Riversgold is active in the Eastern Goldfields of Western Australia, a region that still provides plenty of blue sky for those prepared to put in the hard yards, as is the American state of Alaska where the company is exploring in the Tintina Gold Province.

In the past six months, much of Riversgold’s activities have focused on its portfolio of gold tenements in the Eastern Goldfields, southeast of Kalgoorlie.

Riversgold has completed several rounds of RC drilling in the area, the majority of which have focussed on the Farr-Jones property, where the company has intersected high-grade gold mineralisation in multiple positions.

Farr-Jones is approximately 15 kilometres northeast of Silver Lake Resources’ (ASX: SLR) Randalls processing plant.

It is one of several targets Riversgold identified from historical surface geochemical surveys and limited drilling completed during the late 1980s and early 1990s.

Prior to Riversgold, only a single line of drilling completed in 1991-92 had drill tested Farr Jones below 100m with the deepest hole from that program intersecting 2m at 4.71g/t gold from 143m down hole.

In three RC drilling programs completed at Farr Jones in 2018, Riversgold confirmed three zones of easterly dipping gold mineralisation over a strike of 600m.

Drilling delivered high-grade drill hits of:

FJRC0002
4 metres at 6.3 grams per tonne gold from 119m; and

FJRC0001
3m at 17.8g/t gold from 182m.

Regional soil sampling completed by Riversgold during 2018 highlighted the prospectivity of the Farr Jones area, with soil anomalies previously untested by drilling identifying anomalous areas further north.

A number of these targets were tested by aircore drilling in late 2018.

Two new gold discoveries were made at the Eales and Little targets, like Farr Jones named after the World Cup winning Wallabies side of the 1990s.

These results mean the Allan Kelly-led company has identified multiple zones of gold mineralisation along a north-south trending strike spanning 2.5km, demonstrating the potential for the project to host multiple gold deposits over a decent strike length.

“The aircore drilling results confirmed the potential for multiple gold deposits to be delineated within the wider Farr-Jones project,” Riversgold managing director Allan Kelly told The Resources Roadhouse.

“We were previously looking at the potential for a single gold deposit at Farr-Jones, but we believe we have now discovered oxide and/or primary gold mineralisation over 2.5 kilometres of strike beneath soil anomalies at Farr-Jones, Eales and Little, with a number of other soil anomalies still to test.

“We think we have just scratched the surface at this exciting new gold project and are looking forward to systematically testing it with further soil sampling and drilling.”

 

The aircore drilling Riversgold conducted at Eales and Little is relatively wide spaced, and the company expects to be back in the region to complete a program of systematic grid aircore drilling with deeper follow-up RC drilling where required.

The drill rigs are also planned to return to Farr Jones, as well as testing other gold anomalies identified in the region such as Horan, around 500m west of the Eales discovery.

But prior to this, Riversgold has turned its attention to the Queen Lapage gold prospect following the granting of permits which have facilitated Riversgold’s first drilling of this large target located under one of the salt lakes scattered throughout the region.

Queen Lapage encompasses approximately 17km of the Randall Fault, a major mineralised structure that hosts several substantial gold occurrences.

Approximately 11km of the Randall Fault is located under the thin lake sediments of Lake Yindarlgooda where local geology is characterised by a North-North-West trending package of mafic/ultramafic rocks and clastic sediments separated by a faulted contact.

This is akin to what the company has encountered at the Farr-Jones prospect, and like Farr-Jones, the contact at Queen Lapage has been cross-cut by numerous North-East-trending faults.

Historical shallow drilling intersected anomalous gold at several locations within an interpreted shear zone to the west of the Randall Fault, however the drilling was sporadic and mostly limited to the islands within the lake.

No drilling has been conducted at Queen Lapage since the early 2000s and Riversgold’s initial program of 200 wide-spaced aircore holes will be completed in early February as the first important step in the systematic testing of the major target.

“We always considered Queen Lapage to be one of the most prospective targets we had,” Kelly said.

“It was a highlight of our company prospectus when we listed in 2017 and was one of the main reasons for Evolution’s investment in the company.

“We believe it has all the hallmarks of a highly prospective gold target and the scale to potentially host multiple gold deposits along the Randall Shear Zone.”

Further afield in the United States of America, Riversgold has a 100 per cent-interest in three projects in southwest Alaska through a wholly-owned Alaskan subsidiary.

The projects are located at the western end of the Tintina Gold Province, which hosts the giant 45 million-ounce Donlin Creek gold deposit, which is owned equally by wholly-owned subsidiaries of NOVAGOLD and Barrick Gold Corporation.

The province hosts other intrusion-related gold deposits, such as Fort Knox, Pogo and Livengood.

Riversgold completed its first Alaskan field season last year completing geochemical and geophysical surveys over several targets along with a single diamond drill holes at each of the Luna, Luna East and Quicksilver targets.

From the work carried out to date, the company has identified multiple outcropping high-grade gold occurrences along the 40-kilometre-long North Fork Fault corridor.

“We copped more than our share of bad luck in Alaska last year when mechanical problems severely limited the amount of diamond drilling we had hoped to complete,” Kelly said.

“The work we did complete however only added to our belief in the prospectivity of the region to host world-class deposits and we’ve added to our ground position ahead of what we’re hoping will be a more active 2019 field season in Alaska starting in the middle of the year.”

Back in Australia, the company is also exploring for a large Iron-Oxide Copper-Gold deposit at two highly prospective 100 per cent-owned IOCG projects at Churchill Dam and Burt Lagoon in another well-known region, the Olympic Copper-Gold Province of South Australia.

The Churchill Dam prospect is located approximately 90km South-West of the giant Olympic Dam copper-gold-silver-uranium-rare earth element (REE) deposit and 60km west of the Carrapateena and Khamsin deposits.

Churchill Dam is characterised by a large gravity anomaly that has been previously shown to host brecciated and hematite-altered Gawler Range Volcanics with anomalous copper, gold, uranium and REEs along with potassic and sodic alteration.

The Burt Lagoon prospect is located at the intersection of the Torrens Hinge Zone and a North-West trending regional gravity lineament that passes through the Punt Hill and Mt Gunson copper deposits, as well as the company’s existing Churchill Dam IOCG project.

These prospects received a recent boost with Riversgold receiving all approvals required for drill testing of the targets following an announcement by its big-end-of-town neighbour, BHP releasing drill results from its nearby Oak Dam West target.

 

Riversgold Ltd (ASX: RGL)
…The Short Story

HEAD OFFICE
Suite 6
125 Melville Pde
Como WA 6152

Ph: +61 8 6500 7375

Email: info@riversgold.com.au
Website: www.riversgold.com.au

DIRECTORS
Roderick Webster, Allan Kelly, Jeffrey Foster, Aaron Colleran

 

Galan Lithium Encounters Further Lithium Brines

/in , /by

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced further news from the maiden drillhole (C-01-19) underway at the company’s Candelas lithium brine project, located immediately to the southeast of the Hombre Muerto salar in Argentina.

The hole has now reached a depth of 401 metres, hitting an intercept of brine from depths of approximately 235 metres to the end of the hole within coarse clastic sediments to 311 metres and then fractured basement lithologies to 401 metres.

“These initial results are exceptional, confirming the presence of high-grade lithium bearing brines within a geological setting unique to the Hombre Muerto salar,” Galan Lithium managing director Juan Pablo Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“We have encountered exceptionally good grades with low impurities which are comparable to the rest of Hombre Muerto Basin where Livent, POSCO and Galaxy have their operations.

“We believe we have a potential world class lithium project on our hands which we are keen to further demonstrate in our ongoing drilling.”

 

Website: www.galanlithium.com.au

 

Blackham Resources Extends Golden Age Pit and Underground

/in , /by

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has completed drilling at the high‐grade free milling Golden Age North (GAN) orebody, closely located to the company’s 1.8 million tonnes per annum Wiluna gold plant in Western Australia.

Blackham Resources completed the drilling below existing underground workings, which has led to an extension of the Golden Age Underground mine life.

Underground development is scheduled to access the mineralisation in Golden Age Lower (GA Lower) which will provide additional high-grade ore for the mill over at least the next six months.

Blackham said the latest results enable the GAN pit to be extended southward and deepened to connect with the Golden Age Pit – extending the GAN pit mine life, thereby providing increased high‐grade mill feed in coming months.

“Blackham has been actively extending Golden Age, its highest‐grade orebody, over the last two years and has successfully maintained a rolling mine life of at least six months,” Blackham Resources executive chairman Milan Jerkovic said in the company’s announcement to the Australian Securities Exchange.

“Mining is now due to start in the Golden Age Lower area and extensions to the Golden Age North open pit have already been identified.

“Further, outstanding near surface results support the potential for new areas of underground mining immediately below the existing Golden Age open pits.

“Further drilling and evaluation is expected to support the early expansion of the underground development to provide additional high‐grade ore feed to the Wiluna gold plant.”

 

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

 

Nusantara Resources Commences Near Mine Exploration Drilling

/in , /by

THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) started drilling at the Puncak Selatan near-mine prospect at the company’s 100 per cent-owned Awak Mas gold project, located in South Sulawesi, Indonesia.

Nusantara Resources’ recent field exploration has focussed on numerous near-mine prospects within a two-kilometre radius of the planned processing plant with the aim of enhancing and extending the proposed eleven-year mining operation.

To date, the company has completed over 1,500 metres of near-mine trenching yielding encouraging results.

Recent trenching results at the Puncak Selatan prospect have included:

PS11
5 metres at 2.32 grams per tonne gold, 5m at 2.8g/t gold, 2m at 2.13g/t gold;

PS12
2m at 1.28g/t gold, 2m at 3g/t gold, 1m at 2.46g/t gold;

PS19
35m at 1.2g/t gold, including 7m at 2.5g/t gold, 3m at 2g/t gold and 1m at 4.7g/t gold; and

PS21
12m at 1.7g/t gold, including 8m at 2.3g/t gold.

The drilling program will test the possibility that the Awak Mas eastern mineralisation (Lengket domain) could extend up-dip as the Puncak Selatan prospect surface expression and provide information to assist in confirming the geological model in the near-mine area.

An initial six-hole drill program at the Puncak Selatan prospect has commenced.

“The commencement of near mine exploration is the first step in identifying additional resources that have the potential to be processed at the proposed processing plant and add further value to the long life, low cost Awak Mas gold project,” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“The identification of significant mineralisation at the Puncak Selatan prospect and the near-mine area potential to extend the Awak Mas open pit, has made this a high priority drill target.

“Our work continues to define the geological setting of the Contract of Work area and together with a planned geophysics program will increase the possibility of further discoveries that will enhance the project.”

 

Email: info@nusantararesources.com

Website: www.nusantararesources.com

 

Red 5 to Commence KOTH Drill Program

/in , /by

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is preparing exploration drilling to test five high-priority regional gold targets at the company’s King of the Hills (KOTH) project in Western Australia.

Red 5 identified and ranked the five target areas using high-quality datasets comprising historical drilling by previous owners, updated geological and structural interpretations, surface geochemistry and regional aeromagnetics.

The drilling program is designed to assess the potential for both high-grade gold mineralisation as well as mineralisation to support the potential for a bulk mining operation at KOTH.

Red 5 has recently announced an initial bulk mining Mineral Resource at KOTH comprising 28.7 million tonnes grading 2 grams per tonne gold for an estimated 1.88 million ounces of contained gold.

Red 5 indicated the regional drilling program will be conducted in parallel with an underground drill program underway at KOTH aimed at extend and in-filling the current 1.88 million ounce bulk mining Mineral Resource area, with results from both sets of drilling programs to feed into the bulk mining Strategic Review.

“We are very excited about the significant untapped exploration potential at KOTH over and above the exciting new bulk mining opportunity which we are currently pursuing,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The broader tenement package is very under-explored, and we believe that the outstanding suite of targets we have defined have potential to develop and grow the current Resource base.

“All of the proposed drill targets have already been defined by the presence of shallow, oxide gold mineralisation, each of which are open along strike and remain completely untested down-dip into fresh rock.

“We believe that the geological setting of each target demonstrates characteristics analogous to KOTH- and Gwalia-style gold mineralisation and present significant discovery opportunities.

“This major new regional exploration program constitutes a third significant branch of exploration activity within the KOTH project over the next few months, alongside continuing assay results from the ongoing 30,000 metre underground diamond drill program and the program of assaying previously un-assayed historical drill core.”

 

Email: info@red5limited.com

Website: www.red5limited.com

 

Encounter Resources Drilling at Nazare Gold Project

/in , /by

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) has commenced aircore drilling to test a geochemical anomaly at the company’s Nazare gold project in the Laverton Tectonic Zone in Western Australia, approximately, 150 kilometres east-north-east of Kalgoorlie.

The Laverton Tectonic Zone is one of Australia’s most productive and prospective gold regions that hosts major gold mines at Laverton, Granny Smith, Wallaby and Sunrise Dam.

Encounter Resources has focused its targeting and project generation activities on extensions of this corridor under shallow cover.

Encounter initially acquired a 98 square kilometre Exploration Licence E28/2709 at Nazare targeting the intersection of an interpreted structure extending south-east from the Apollo Consolidated (ASX: AOP) Bombora gold discovery within the interpreted southern extension of the well-mineralised Laverton Tectonic Zone.

The company chose Nazare for an initial trial of an innovative new CSIRO-developed geochemical sampling technique, UltraFine+, a potential breakthrough geochemical sampling technique in areas of thin cover.

The application of Ultrafine+ at Nazare defined a high-quality gold anomaly in an area where traditional geochemistry was ineffective.

This coherent gold anomaly is coincident with major structural intersection at Nazare.

“This initial aircore program at Nazare is the first application of the new CSIRO Ultrafine+ geochemical sampling technique,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“It has generated a high-quality, coherent gold anomaly in an area where traditional geochemistry was ineffective.

“If this potential breakthrough geochemical technique is successful at Nazare, it would have very significant regional implications.

“Accordingly, Encounter has secured approximately 1,000 square kilometres of tenure in the area and Ultrafine+ will be applied regionally if our current aircore drilling successfully intersects sub surface gold mineralisation.”

Encounter is now reviewing this additional ground for additional structural targets where the UltraFine+ technique can be deployed.

An initial 20-hole aircore drill test of the geochemical anomaly generated at Nazare has commenced and assay results are likely to be available in late March 2019.

 

Email: contact@enrl.com.au

Website: www.enrl.com.au

 

Carawine Resources Spots Six New Paterson Province Targets

/in , /by

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) has generated six new prospects at the company’s Paterson project, located in the Paterson Province of Western Australia.

The Paterson region is host to the Telfer gold-copper and Nifty copper mines and has recently seen a marked increase in exploration activity; notably the widely reported Winu discovery by Rio Tinto Exploration, and the Havieron discovery by AIM-listed Greatland Gold.

Carawine Resources identified the six priority target areas across the Red Dog and Baton projects from a combination of historic drill and geological data, re-processing of airborne magnetic and electromagnetic (EM) geophysical data.

The company said each prospect contains elements common to major deposits and recent discoveries in the Paterson region, including host rock, magnetic anomalies, EM conductive anomalies, intrusion-related (skarn-style) mineralisation and alteration.

At the Baton project two prospects, Javelin and Wheeler have been identified, described by Carawine as discrete bullseye magnetic anomalies (analogous to Havieron and Winu discoveries) hosted by the Broadhurst and Isdell Formations.

A further four targets at the Red Dog project include the Earl prospect – a discrete magnetic and EM anomaly on the edge of a large interpreted felsic intrusion; the Leatherneck prospect – an alteration zone within the Broadhurst Formation (host to the Nifty copper deposit), with associated anomalous zinc (to 2,380ppm) and copper (to 375ppm) in limited drilling; the Bravo prospect – a discrete EM anomaly within interpreted altered and faulted Nifty host rocks; and the Duke prospect – a discrete bullseye magnetic anomaly and coincident gravity anomaly, magnetite-bearing calc-silicate skarn, around a quartz monzonite intrusive.

Carawine indicated it has planning underway to advance these prospects to drill-ready status, while target generation work is continuing for its other Paterson tenements.

“It is exciting to see several high priority targets generated by historic exploration data and from the incorporation of new geophysical data,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities exchange.

“At Red Dog in particular, we now have access to geophysical datasets which have only recently become available.

“This combined with our knowledge of mineralisation styles and settings in the region has allowed us to identify what we consider are six highly prospective new targets in one of the most sought-after exploration regions in Australia.

“Our focus will now shift to planning the next stage of exploration on these tenements, including on-ground work commencing during Q2 2019.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au