Anglo Australian Resources Expands Mineralised Footprint at Mandilla Gold Project

THE DRILL SERGEANT: Anglo Australian Resources (ASX: AAR) reported on progress of reverse circulation (RC) drilling underway at the Mandilla East prospect, part of the company’s 100 per cent-owned Mandilla gold project, located south of Kalgoorlie in Western Australia.

Anglo Australian Resources said the drilling has confirmed good continuity of mineralisation within the existing resource area with some outstanding intersections recorded, including:

MDRC103
99 metres at 1.47 grams per tonne gold from 36m

MDRC104
163m at 1.75g/t gold from 37m, including 90m at 2.45g/t gold from 39m

MDRC105
35m at 1.42g/t gold from 84m

MDRC106
18m at 1.55g/t gold from 67m

MDRC106A
8m at 1.09g/t gold from 63m
64m at 0.64 /t gold from 101

MDRC107
58m at 1.52g/t gold from 59 m
1m at 7.72g/t gold from 136m
20m at 2.1g/t gold from 172m

MDRC108
56m at 0.61g/t gold from 72m

MDRC111
32m at 0.75g/t gold from 13m
7m at 2.27g/t gold from 95m
17m at 0.75g/t gold from 142m

MDRC112
6m at 2.05g/t gold from 91m
40m at 0.63g/t gold from 136m

MDRC113
56m at 1.36g/t gold from 101m, including 1m at 42.35g/t gold from 143m

MDRC140
4m at 1.82g/t gold from 191m

“These new assay results continue to deliver excellent widths and grade, confirming that the Mandilla Gold Project has an extensive strike length whilst remaining open at depth,” Anglo Australian Resources chairman John Jones said in the company’s announcement to the Australian Securities Exchange.

“Ongoing drill campaigns will likely continue to expand the footprint of the syenite-hosted gold mineralized system.

“All the evidence to date points to there being significant potential for bulk open-pit mining style mineralisation at Mandilla.”

 

Email: info@anglo.com.au

Web: www.anglo.com.au

 

Blackstone Minerals Encounters Further Broad Nickel Sulphide Intersections at Ta Khoa

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) enjoyed a good start to the 2019 Brisbane Resources Roundup by reporting on the second round of results from maiden drilling at the company’s Ta Khoa nickel project in Northern Vietnam.

Blackstone Minerals said the second round of results from diamond drilling at the Ta Khoa project delivered further substantial intersections of disseminated nickel sulphide as well as noteworthy PGEs.
The maiden drilling results from the latest six drill holes in the program include:

BP19-04
16.6 metres at 0.34 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.07 grams per tonne PGE from 104.4m;

BP19-05
15.8m at 0.57 per cent nickel, 0.07 per cent copper, 0.01 per cent cobalt and 0.26g/t PGE from 118.2m;

BP19-06
27.7m at 0.88 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt and 0.74g/t PGE from 101m;

BP19-08
29.4m at 1.00 per cent nickel, 0.12 per cent copper, 0.02 per cent cobalt and 0.6g/t PGE from 140.6m;

BP19-09
11.9m at 1.46 per cent nickel, 0.15 per cent copper, 0.02 per cent cobalt and 1.09g/t PGE from 107m; and

BP19-10
33.3m at 0.80 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt and 0.37g/t PGE from 136.9m.

“Drilling at Ta Khoa continues to deliver significant intersections of disseminated nickel sulphide and, with the recently identified potential for substantial platinum group element (PGE) credits, the Ban Phuc DSS is shaping up to be a globally significant nickel sulfide system,” Blackstone Mineral managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

Blackstone is the first company to assay the Ban Phuc DSS for PGEs that has resulted in the recent uncovering of what it considers as a previously unrecognised opportunity.

Previous operators focused on the Ban Phuc MSV, which has relatively low PGE grades, and hence did not consider or investigate the full potential of the PGEs throughout the Ta Khoa project.

Blackstone feels its maiden PGE assays combined with the abundance of disseminated nickel sulphide targets suggest PGEs associated with disseminated nickel sulphide mineralisation could greatly improve the economics of the Ta Khoa nickel project.

 

Email: admin@blackstoneminerals.com.au

Web: www.blackstoneminerals.com.au

 

Lithium Australia Increases Stake in Envirostream

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has increased its interest in Envirostream Australia Pty Ltd from 18.9 to 23.9 per cent.

Lithium Australia said the $100,000 investment greatly enhances its exposure to the process of collecting and separating spent lithium-ion batteries (LIBs), a fundamental precursor to the recycling of battery chemicals.

LIT has already, at laboratory scale, successfully recovered metals from separated batteries, used the lithium so retrieved to regenerate cathode materials and, from those materials, manufactured coin-cell LIBs, testing of which vindicated the company’s aim of closing the loop on the energy-metal cycle.

Lithium Australia explained that EA is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of LIBs, including the lithium.

The company highlighted EA’s infrastructure, saying it is essential to developing an environmentally responsible solution to the mounting problems spent LIBs represent.

EA’s collection and physical processing/separation of spent battery components makes for a perfect fit with LIT’s recycling R&D.

Lithium Australia anticipates its expanded equity in EA, and acceleration of its R&D program will contribute to the restructuring of the recycling business to best amalgamate the capabilities of both entities.

In recycling spent LIBs, we hope to meet the ethical, social and governance standards the community has grown to expect,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The world’s capacity to deal with climate change is also bolstered by the resulting improvements in resource sustainability and reductions in the environmental footprint of portable power.

“Our further investment in recycling in general, and EA in particular, therefore represents a tremendous opportunity for the company.”

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

Meteoric Resources Welcomes Dr Paul Kitto Aboard

THE BOURSE WHISPERER: Meteoric Resources NL (ASX: MEI) made its presence felt at the 2019 Brisbane Resources Roundup by announcing the appointment of Dr Paul Kitto as non‐executive technical director.

Meteoric Resources recognised Dr Kitto’s more than thirty years’ experience working within the mining industry, having served on a number of ASX Boards and having held senior level management positions around the world, including Australasia and Africa.

Dr Kitto is currently technical director for ASX-listed Tietto Minerals (ASX: TIE) and was most recently (2015‐2019) exploration manager, Africa for Newcrest Mining and prior to that, was CEO and managing director of Ampella Mining from 2008 until 2014, when Ampella was acquired by LSE/TSX-listed Centamin PLC.

Throughout his career, Dr Kitto has led or been part of exploration teams that have discovered numerous multi‐million-ounce gold deposits in Africa, Australia and Papua New Guinea providing him with extensive experience associated with a wide range of deposit types, predominantly associated with gold and base metal deposits.

In addition, Dr Kitto has considerable experience dealing with global equity capital markets, project finance together with mergers and acquisitions.

“I am thrilled to welcome Paul to the board of Meteoric Resources,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Paul is someone in the industry I have known, admired and respected for many years and his knowledge of the gold space is second to none.

“Paul will play a hugely significant role moving forward with Meteoric as we progress our exploration programs on the ground in Brazil at both the Juruena and Novo Astro gold projects and no doubt the company and shareholders alike will benefit from his significant global experience in developing world class gold deposits.”

 

Web: www.meteoric.com.au

 

Black Cat Syndicate Reports on First Myhree Holes

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) greeted the 2019 Brisbane Resources Roundup crowd with the release of results from the first diamond drilling program at the Myhree target within the company’s Bulong gold project in Western Australia.

Black Cat Syndicate designed the first three diamond drill holes into Myhree to infill the Resource and provide critical geological, geotechnical and metallurgical information on the mineralised structures.

High-grade results include:

19MYDD003
1.7 meters at 335.96 grams per tonne gold from 52.2m, including 0.5m at 1,130g/t gold from 52.9m; and
7m at 9.84g/t gold from 59.5m.

19MYDD001
4.74m at 5.99g/t gold from 166.3m; and
3.04m at 3.07g/t gold from 140.6m.

Black Cat Syndicate said the results demonstrate potential for high-grade zones within Myhree and highlight underground mining potential.

The company has commenced preparations for a December 2019 quarter drilling program, which is to include extensional RC drilling of the south-east extension of Myhree following up from an earlier intercept of 10m at 2.77g/t gold, diamond drilling, also at Myhree, for completion of final metallurgical and geotechnical studies and RC drilling for hydrogeological studies.

Other work will entail extensional drilling at the Trump North target following up on 4m at 13.46g/t gold and exploration drilling at the Greater Woodline area on multiple targets including Anomaly 38, Woodline, Fenceline and Solitaire.

“These first diamond holes into Myhree show the outstanding potential of this deposit,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“We are also about to commence RC drilling to test the Myhree Southern Offset.

“Confirmation of the offset will have important implications for the current Feasibility Study.

“Later in October the drill rig will be moving to the highly prospective Greater Woodline area to test the priority targets identified in the recently completed Sub Audio Magnetic (SAM) survey.

“This promises to be an action-packed quarter for Black Cat.”

Black Cat claimed discovery of Myhree in June 2018 and since then, up to June 2019, has established a current JORC Resource of 1.4 million tonnes at 2.7g/t gold for 119,000 ounces.

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

THE DAILY ROADHOUSE

Golden Rim Resources Accelerates Kouri Exploration

THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) is making exploration campaign progress at the company’s Kouri gold project in Burkina Faso.

Cygnus Gold and Gold Road JV Operating Smoothly

THE DRILL SERGEANT: Cygnus Gold (ASX: CY5) has been kept busy of late at the company’s Joint Ventures with Gold Road Projects, a wholly-owned subsidiary of gold producer Gold Road Resources (ASX: GOR).

Comet Resources Identifies Priority Graphite Targets

THE DRILL SERGEANT: Comet Resources (ASX: CRL) has had an aerial electromagnetic survey (EM) carried out over the company’s Springdale graphite project in southern West Australia.

AMEC’s Overtures Result in WA Government Lithium Sector Review

IN THE LOBBY: The Western Australian lithium sector received a recent boost in the form of a supportive announcement from the State government.

Golden Rim Resources Accelerates Kouri Exploration

THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) is making exploration campaign progress at the company’s Kouri gold project in Burkina Faso.

Golden Rim Resources has just re-commenced its 21,000 metres reverse circulation (RC) and diamond drilling program that still has approximately 9,200m of RC drilling and 4,000m of diamond drilling (for approximately 100 holes) remaining to be drilled.

In addition to the RC and diamond drilling program, Golden Rim has also kicked off an auger drilling program and a ground magnetic and gradient-array IP geophysical survey.

Diamond Drilling at the Diabatou prospect (Margou permit) has seen the completion of the first diamond drill hole (MDH001) to a depth of 80m.

Golden Rim explained MDH001 is a twin hole to previous RC drill hole MRC008 that returned 7m at 121.2 grams per tonne gold from 41m, including 1m at 783.8g/t gold from 44m, and 3m at 7.2g/t gold from 56m.

“MDH001 was planned to confirm the orientation of this bonanza grade gold mineralisation prior to step-out drilling,” Golden Rim Resources said in its ASX announcement.

“MDH001 intersected several zones of granite-hosted quartz-sulphide mineralisation with visible gold.

“The first assays from the re-commenced program are expected in approximately three weeks.”

The next diamond drill hole at the Diabatou prospect (MDH002) is already underway and has a planned depth of 160m.

MDH002 is designed to test the depth extent of the high-grade mineralisation intersected in MRC008 along with the up-dip extent of a second zone of high-grade mineralisation (4m at 23.2g/t gold from 67m, including 1m at 65.7g/t gold) intersected in previous RC hole MRC014.

“Upon the completion of MDH002, further diamond drill holes are planned to the northeast and to the southwest to determine the strike extent of the high-grade gold mineralisation,” the company said.

An auger drilling program that is expected to comprise 3,750 holes (total of ~15,000m) has also commenced at Kouri.

Drilling is initially being conducted at the Diabatou prospect and will then extend to systematically cover various target areas in the newly acquired Margou permit.

While all this is happening, Golden Rim has also commenced a considerable ground magnetic and gradient-array IP geophysical survey at the Diabatou prospect that will be extended through the Margou and Goueli permits.

The survey will be conducted over a three to four month period and comprises approximately 500 line kilometres conducted on 100m spaced lines.

 

Web: www.goldenrim.com.au

 

Cygnus Gold and Gold Road JV Operating Smoothly

THE DRILL SERGEANT: Cygnus Gold (ASX: CY5) has been kept busy of late at the company’s Joint Ventures with Gold Road Projects, a wholly-owned subsidiary of gold producer Gold Road Resources (ASX: GOR).

The Cygnus Gold – Gold Road JVs include the Lake Grace JV and the Wadderin and Yandina JVs covering an area of more than 5,000 square kilometres in the Wheatbelt region of Western Australia along the Yandina Shear, a largely unexplored regional structure interpreted to control the location of gold deposits such as Tampia, Griffin’s Find and Lake Magenta.

The current focus on the Lake Grace JV is the Hammerhead prospect, a target identified from regional aircore drilling of a zone of surface gold anomalism coincident with the prospective Yandina Shear Zone.

Recent aircore drilling at the Hammerhead prospect returned additional widespread, anomalous gold including:

LGAC0058
3 metres at 0.35 grams per tonne gold from 52m; and

LGAC0091
6m at 0.28g/t gold from 56m to end of hole.

Cygnus explained these intersections are associated with widespread anomalous gold pathfinder elements such as arsenic, copper, and molybdenum, and are in addition to the results reported in earlier announcements.

Anomalous gold and pathfinder anomalism have now been returned from four of eight broad spaced drill lines through transported cover over nearly 15km strike length of interpreted greenstone rocks at Hammerhead.

Work being carried out at the Wadderin and Yandina JVs is also targeting gold mineralisation associated with the regional Yandina Shear.

Due to the sparse outcrop in these large tenement packages exploration has been driven by detailed geological interpretation of geophysical datasets to map out the geology and structures thought to control gold mineralisation.

In addition to ongoing targeting at Hammerhead, recent exploration activity has included regional targeting on the Wadderin and Yandina JVs, which has identified a number of high priority targets for drill testing.

Cygnus indicated it is now planning a program to extend and infill the AC drill coverage at Hammerhead as well as deeper reverse circulation (RC) drilling under the best results to date.

The AC program will include first pass traverses across the higher priority Wadderin and Yandina targets.

These programs are planned to commence immediately post-harvest in late Q4.

“Even though early stage, the Hammerhead prospect is now a focus area on the Lake Grace JV where drilling programs are planned to commence over the coming months,” Cygnus Gold managing director James Merrillees said in the company’s announcement to the Australian Securities Exchange.

“Other targets on the Wadderin and Yandina JVs fill a pipeline of Joint Venture funded projects to be tested over the coming 6 to 12 months.

“I’d like to thank our partners Gold Road and acknowledge their support as we aim to emulate their success at Yamarna in the Southwest, an equally underexplored area within the prolific Yilgarn Craton.”

Gold Road has now reached the expenditure required to earn 51 per cent of the Lake Grace Earn-in project, and has elected to form a JV to earn an additional 24 per cent interest (75% in total) in the project by spending a further $500,000 within 18 months.

On the Wadderin Earn-in project, Cygnus and Gold Road have agreed to extend the minimum expenditure time required to achieve the $900,000 until December 31 2019 and extend the earn in period to 31 December 2020 where Gold Road is required to spend $1.6 million on exploration expenditure to earn 51 per cent.

All other terms remain unchanged.

The Hyden group of tenements were granted during September and these will be added to the existing Yandina JV.

 

Email: info@cygnusgold.com

Web: www.cygnusgold.com

 

Comet Resources Identifies Priority Graphite Targets

THE DRILL SERGEANT: Comet Resources (ASX: CRL) has had an aerial electromagnetic survey (EM) carried out over the company’s Springdale graphite project in southern West Australia.

Comet Resources said the survey had identified multiple high-conductivity graphite targets all within close proximity to the currently defined Springdale graphite JORC Resource.

The company has earmarked all as high-priority targets for drill testing.

Comet reported the EM survey had clearly defined the outline of the Springdale graphite JORC Resource while also identifying multiple conductive graphite bedrock anomalies as high amplitude responses in the late-time EM within the block 1 survey area.

These targets are close to the existing Resource as well as along, the now clearly defined, prospective stratigraphy in the wider licence area.

The block 1 survey area was flown over the main Springdale graphite project licence that hosts an Inferred Resource of 15.6 million tonnes at 6 per cent Total Graphitic Carbon (TGC), including a high-grade portion of 2.6 million tonnes at 17.5 per cent TGC.

The majority of defined resources are situated within 60 metres of surface.

Comet has interpreted the strength of the graphite conductor response in this area to reflect the relatively shallow, flat-dipping geometry of the high-grade graphite units that has been demonstrated by previous drilling, making them high priority targets for future drilling.

In addition to the targets in close proximity to the existing resources, the survey also delineated numerous new targets within the project licence the company considers to clearly reflect the folded geometry of the prospective target graphite stratigraphy.

“EM has again been demonstrated as a powerful tool for us to target shallow, high-grade graphite mineralisation, increasing the capital efficiency of our exploration,” Comet Resources CEO Philippa Leggat said in the company’s announcement to the Australian Securities Exchange.

“The priority targets closest to the shallow, high-grade areas of our existing Inferred Resources of 2.6 million tonnes at 17.5 per cent TGC is where we will focus.

“Our recent diamond drilling program centred around the fold closure in the northern area of the resource.

“The strength of the EM response in this area is interpreted to reflect the relatively shallow, flat-dipping geometry of the high-grade graphite units as seen in previous drilling.

“We are excited to see the new results as they become available over the coming weeks.”

 

Email: comet@cometres.com.au

Web: www.cometres.com.au

 

AMEC’s Overtures Result in WA Government Lithium Sector Review

IN THE LOBBY: The Western Australian lithium sector received a recent boost in the form of a supportive announcement from the State government.

The WA government announced lithium royalty amendments to encourage downstream processing, a raft of changes it said would provide much needed support to the state’s battery materials sector.

WA Mines and Petroleum Minister Bill Johnston announced a regulatory review would be undertaken that would include a high level of input from industry players, indicating that the McGowan Government will introduce a new royalty arrangement for lithium producers that will encourage downstream processing and manufacturing.

“The McGowan Government is committed to supporting Western Australia’s battery materials industry,” Johnston said.

“Updating the royalty arrangements provides a fairer system for all lithium producers and will enable Western Australia to move up the battery value chain beyond mining and processing.

“This will create more jobs and encourage innovation in meeting the needs of the growing demand for electric vehicles and battery storage systems.

“Western Australia is increasingly becoming an internationally attractive destination for downstream processing and manufacturing of lithium and other battery minerals.”

The Department declared that a five per cent feedstock royalty rate for lithium hydroxide and lithium carbonate, where those are the first products sold and the feedstock is spodumene concentrate, will be introduced as soon as practicable.

The government believes this new royalty arrangement clears up any uncertainty regarding lithium royalties, compared to the previous regulations.

The new lithium feedstock royalty rate, introduced via amendment to Mining Regulations 1981, is hoped to ensure all lithium producers are treated equally, in turn encouraging further downstream processing of lithium in Western Australia.

The Association of Mining and Exploration Companies (AMEC) was one of the first to react to the announcement and it was not surprising that it was in a positive vien.

AMEC said it was a good result for the sector and was a response it was hoping to see from its suggestion to the government to introduce appropriate incentives to encourage development throughout the supply chain in the body’s Lithium Industry in Australia Report published with Future Smart Strategies in January 2018.

“Today’s royalty rate announcement helps Western Australia compete internationally to lock its place in the global lithium value chain,” AMEC CEO Warren Pearce said.

“Defining the royalty provides certainty for companies investing in Western Australia and will support the financing of projects and further investment.

“Western Australia has a phenomenal geological opportunity, particularly in battery minerals, but needs to make sure the regulatory settings are right so companies will choose to invest here.

“Today’s announcement increases certainty and Western Australia’s investment attractiveness for lithium downstream processing.”