Impact Minerals Acquires New Project for Battery and Strategic Metals

THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has acquired a new project it considers prospective for a range of battery and strategic metals sitting close to the Greenbushes lithium-tantalum mine in the southwest Western Australia.

As consideration for a 100 per cent interest in the project, Impact has paid $20,000 cash to the vendor, and will issue three million unlisted options exercisable at 2.4 cents with a three year term.

The Dinninup project comprises four exploration licences covering about 485 square kilometres (E70/5842, E70/6111, E70/6112 and E70/6113).

As part of its due diligence process, Impact utilised in-house geophysical data to identify several areas of interest for follow up.

New targets identified at Dinninup, include: three new priority nickel-copper-platinum group elements (PGE)-gold targets; two lithium-caesium-tantalum targets; and four rare earth elements (REE) targets.

“The Dinninup project adds further significant value to our early project portfolio in southwest Western Australia,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“Once again, our initial soil geochemistry results indicate untapped potential for a range of battery and strategic metals in this part of the state in an area where there has only been previous exploration for bauxite.

“The strong lithium anomalies are particularly exciting given our proximity to the world-class Greenbushes mine just 60 kilometres to the east and with similar geology.

“Together with our flagship Arkun-Jumbo project Impact has identified a significant number of areas for follow up work in the region and we are continuing to negotiate land access agreements to gain access to the priority targets.”








Corazon Mining Progresses Miriam Project Acquisition

THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has further progressed its rights to acquire 100 per cent of the Miriam nickel sulphide project near Coolgardie in Western Australia.

Corazon announced an agreement with the project vendor in 2021 to acquire the Miriam project, since when the company has now completed Stage 2 of the acquisition.

Having completed Stage 2 Corazon is now entitled to 100 per cent of the project taking sole control and management on behalf of all parties, with the vendor retaining the right to mine mullock dumps for gold mineralisation and to metal detect on the area for the first three years post granting of the relevant tenure.

Corazon considers Miriam a highly prospective nickel exploration project that represents a strategic addition to its portfolio of nickel sulphide assets.

“Corazon is enthusiastic about the project’s exploration potential,” Corazon Mining said in its ASX announcement.

“Drilling undertaken predominantly in the 1960s and 1970s at the Miriam nickel deposit intersected ‘high nickel tenor’ massive and disseminated sulphides.

“Corazon has highlighted extensions to areas of known mineralisation as the initial priority exploration focus.”









Alchemy Resources Identifies Lithium Anomalies at Karonie

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has spotted a new coherent lithium and pathfinder elements anomalous corridor at the company’s 100 per cent-owned Karonie gold project near Kalgoorlie in Western Australia.

Alchemy identified the anomalies having conducted multi-element soil sampling at the Pecan/Mesquite/Hickory/Cherry prospects as part of a multi-commodity review.

The company’s analysis of lithium and pathfinder elements demonstrated a pattern of anomalism over 7km long and 1km wide with the northern zone having increasing levels of surface cover.

“The lithium and pathfinder anomalism identified by Alchemy’s soil sampling and recent rock chipping in proximity to Manna are an encouraging start,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“Mapping by our geologists has shown pegmatites in outcrop along strike of Manna which is made more significant by the fact that there’s been no pegmatites mapped in this region before.

“The geochemical review reaffirms the prospectivity of our large tenement package at Karonie in what has historically only ever seen gold and base metals exploration.

“Work is continuing to identify the other intrusive dykes in the vicinity through a program of detailed mapping and sampling.”








Nexus Minerals Hits High-Grade Gold Link at Crusader-Templar

THE DRILL SERGEANT: Nexus Minerals (ASX: NXM) reported on recent drilling activity at the Crusader–Templar prospect, within the company’s Wallbrook gold project in Western Australia.

Nexus Minerals reported the gold mineralisation tenor and widths it has observed in the recent holes complement and enhance its previous drilling results at Crusader-Templar, intersecting broad high-grade mineralisation.

41 of 43 RC drill holes intersected gold mineralisation exhibiting strike and depth continuity, returning results that included:

5m at 4.09 grams per tonne gold, within 43m at 1.2g/t gold from 20m;

7m at 3.4g/t gold, within 20m at 1.27g/t gold from 28m; and

3m at 4.91g/t gold, within20m at 1.43g/t gold from 43m;

“The drill results continue to impress, with broad high-grade zones of mineralisation being returned,” Nexus Minerals managing director Andy Tudor said in the company’s ASX announcement.

“The positive link zone drill results allow us to confidently confirm the joining of the Crusader and Templar prospects into a single 1.6 kilometres mineralised corridor.

“With the five drill rigs continuing to operate on site as planned, we are now well into the 6,000 metres diamond drill program and the follow-up 40,000 metres RC program at Crusader-Templar.

“The strength of these results continues to build our confidence in the potential for the Crusader-Templar prospect to evolve into a very large mineralised system.”






Musgrave Minerals Encounters Thick basement Gold Intersections at West Island, Cue JV

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported assays received from diamond and aircore drilling programs underway on the company’s Cue Joint Venture with Evolution Mining in Western Australia’s Murchison district.

Musgrave Minerals said the diamond drilling continued to intersect potential ore grade intersections over wide thicknesses in basement rocks at the West Island prospect, including:

2.4 metres at 7.1 grams per tonne gold from 137.9m, and 19m at 4.43g/t gold from 282m, including 10.5m at 6.25g/t gold from 287m

2.9m at 9.59g/t gold from 308.1m, and 12m at 4.89g/t gold from 322m, including 9m at 6.37g/t gold from 322m; and

6.55m at 4.66g/t gold from 253.45m.

Aircore drilling results have also extended the large regolith gold mineralisation footprint at the West Island prospect, identifying new zones for follow-up basement drill testing, intersections include:

2m at 119.6g/t gold from 174m, 500m south of current West Island diamond drilling; and

2m at 18.06g/t gold from 74m, in new target area 2.8km south of West Island.

“The gold system at West Island on the Cue JV with Evolution is a discovery that highlights the upside potential of the Cue project,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“Diamond drilling continues to deliver strong basement results with drilling confirming the potential for multiple high-grade basement gold lodes within the dolerite sill.

“To compliment these results aircore drilling continues to extend the West Island system and identify new basement targets under Lake Austin.”

Musgrave explained the intent of the drilling on the JV area is to delineate the scale of the gold system at West Island, test additional gold-in-regolith aircore anomalies and define new diamond drilling targets through aircore drilling.








Miramar Resources Kicks Off Detailed Magnetic Survey at Lang Well

THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has a detailed UAV magnetic survey underway over the company’s 100 per cent-owned Lang Well project in the Murchison region of Western Australia, which it considers prospective for gold and/or rare earth element (REE) mineralisation.

The survey follows a review of historical information that identified some 50 outcropping pegmatite occurrences within the project, including a swarm of pegmatites over seven kilometres of strike in the northern half of the project.

None of the pegmatite occurrences have been assayed for lithium or REEs.

The magnetic survey is expected to assist Miramar in planning a first aircore drilling program testing both the auger gold anomalism and REE potential.

“Lang Well covers a very large area with widespread surficial material covering prospective geology and structures,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Based on the limited historic exploration results, the southeastern part of the project is prospective for gold mineralisation, and also has significant potential for REE mineralisation as indicated by the very limited historic drilling which intersected strongly anomalous REEs.

“Given the widespread occurrence of pegmatites in the outcropping areas of the project, we think there is potential for a significant number of additional pegmatite occurrences, potentially prospective for Lithium or REEs, elsewhere within the project, either outcropping or beneath shallow cover.”








Aruma Resources Intersects Lithium at Mt Deans Lithium Project

THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) emerged from a self-imposed exile after receiving a speeding ticket from the ASX to report a lithium encounter on the company’s Mt Deans lithium project in south-eastern Western Australia.

Aruma Resources announced results from its first phase of drilling at Mt Deans that involved a total of 1,156 metres of reverse circulation (RC) drilling in eight holes, which delivered highly positive results including high-grade rubidium.

Rubidium is a high-value technology metal typically found in hard rock pegmatites.

The current price of Rubidium Carbonate, the most widely used form of rubidium, is $1,059.65 per kilogram.

It has multiple uses and applications, including in solar panels, fibre optic cables, GPS systems and night vision equipment, as well as sodium-ion batteries.

Aruma said the drilling intersected high-grade lithium of up to 1.14 per cent Li2O (lithium oxide) within a wide zone of lithium, all within a near-surface 25 metre thick, vertical body of solid pegmatite, from a depth of just 17 metres.

Results include:

1 metre at 1.14 per cent Li2O at 36m in hole within a wider zone of 10m at 0.62 per cent Li2O and 0.57 per cent rubidium oxide (Rb2O) from 22m;
7m at 0.76 per cent Li2O and 0.69 per cent Rb2O from 31m; and
3m at 0.96 per cent Li2O and 0.83 per cent Rb2O from 34m.

“The first phase of drilling at Mt Deans has delivered highly encouraging and positive results, returning strong lithium and rubidium grades in numerous intersections, some with significant widths,” Aruma Resources managing director Peter Schwann said in the company’s ASX announcement.

“This represents just the start of exploration at Mt Deans, and based on these results, we will move quickly to undertake the remaining approximately 1,800 metres of the maiden drilling campaign.

“The Mt Dean pegmatite is showing zonation with lithium grades up to 1.14 per cent Li2O, and rubidium assays up to 1.05 per cent which is high-grade, and our future work will target Mt Deans as a multi metal asset.”

Based on the results from the first round of drilling at Mt Deans, Aruma signalled it is very keen to complete the remaining 1,800 metres across 12 holes of this maiden drilling program.









Tim Markwell Falcon Metals (ASX: FAL) April 2022

Falcon Metals (ASX: FAL) has commenced exploratory drilling activities at the company’s Pyramid Hill gold project in Victoria. Managing director and CEO Tim Markwell zoomed into The Resources Roadhouse to bring Wally Graham up to speed.

Chris Byrne Legacy Metals (ASX: LGM) April 2022

Legacy Minerals (ASX: LGM) recently received encouraging assay results from drilling undertaken at the Mt Felstead prospect within the company’s Bauloora project in New South Wales. As the company awaits to receive the remaining results, managing director Chris Byrne zoomed into The Resources Roadhouse to update Wally Graham on progress and future activities.

Dreadnought Resources Commences Regional Auger Program at Tarraji-Yampi

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) has been able to commence exploration activities earlier than anticipated at the Tarraji-Yampi prospect, in the Kimberley Region of Western Australia.

Dreadnought Resources has kicked off a low impact auger sampling system that was specially designed for Taraji-Yampi allowing the company to commence exploration earlier in the season, before road access has been re-established, extending and maximizing the dry season activities.

Dreadnought explained the auger program will sample through shallow black plain soil that obscures mineralisation like that it discovered at Orion in 2021.

As the first program of its kind across Tarraji-Yampi, Dreadnought believes it could lead to identification of additional mineralisation across the project.

The program will take 2-3 months including infill sampling of anomalous areas.

Regional targets defined by the auger program will be drilled in August/September 2022.

“This is the first program of its kind at Tarraji-Yampi,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“The program allows us to identify mineralisation below the black plain soils that can obscure massive sulphide deposits such as Orion.

“This is a game changer in an area which has not been explored since the 1970s.

“By taking the learnings from our 2021 program, including an orientation program over the Orion discovery, we have been able to deploy a new technique that will provide the geochemical data needed to discover the rest of Orion’s friends at Tarraji-Yampi.”