Venture Minerals Hits Best Jupiter Drill Intersection to Date

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported further aircore drilling success from the company’s Jupiter rare earth discovery in Western Australia.

Venture Minerals declared the latest results from the large-scale, high-grade, Jupiter rare earth discovery to have eclipsed all expectations, with the whole southern zone of the 40 km2 target delivering consistent broad and high-grade REE mineralisation.

The drilling included the company’s best intersection to date of:

BRAC234
58 metres at 2,723ppm total rare earth oxide (TREO).

“The most telling way to assess exploration success is to compare the before and after results,” Venture Minerals managing director Philippa Leggat said in the company’s ASX announcement.

“When you see infill drilling delivering a sea of magenta that represents the highest grade, like we see in the southern area of Jupiter, you know you’re onto a very, robustly mineralised system.

“And, after over 200 drill holes we are still breaking records, with amazing intersections of up to 58 metres at 2,723ppm TREO in this latest batch of assays.

“We are excited to receive the final assay results and move forward with our metallurgy and then maiden resource estimate.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Great Boulder Resources managing director Andrew Paterson

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Great Boulder Resources (ASX: GBR) released two encouraging drilling result announcements from the company’s Side Well gold project in Western Australia. Managing director Andrew Paterson visited Wally Graham of The Resources Roadhouse to provide some details.

Calidus Resources Estimates Maiden Resource to underpin Nullagine Restart

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported a maiden JORC 2012 Mineral Resource Estimate (MRE) for the company’s Nullagine gold project in Western Australia.

Calidus Resources has commenced work on a Feasibility Study for the re-start of the Nullagine Mill based on two weeks on, two weeks off campaign milling at the 1.8 million tonnes per annum Golden Eagle mill.

This study is expected to be finished in the coming quarter.

The maiden Nullagine MRE has come in at 6.9 million tonnes at 2.15 grams per tonne gold for 475,114 ounces.

This includes Measured and Indicated Resources of 4.1 million tonnes at 2.33g/t gold for 307,497 ounces, representing 65 per cent of the total Resource.

Calidus explained the Mineral Resource does not incorporate the remnant stockpiles on the run of mine (ROM) pad, where the company is undertaking a drill program to delineate Mineral Resources that will be included in the Feasibility Study and provide an ore source for commissioning.

“We are excited to release an initial Maiden Resources at Nullagine which forms the basis for a Study on the restart of the Golden Eagle mill, which has a nameplate capacity of 1.8 million tonnes per annum, on a campaign basis,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“Any production from Nullagine will result in a substantial uplift in Calidus’ overall production profile and provide significant free-cashflow generation as there is no hedging in place on any of these ounces.

“We look forward to releasing a Feasibility Study in the September Quarter 2024 with production targeted to commence no later than Q1 CY25.

“Work continues on the remaining 16 historic resources not included in this release which will provide a substantial uplift to these Resources when complete.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Corazon Mining Makes High-Grade Zinc Acquisition

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) is to acquire three drill-defined zinc-copper-gold deposits, near the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in the province of Manitoba, Canada.

Corazon Mining sees zinc-copper as possible high-value feedstock for a future mineral processing operation at Lynn Lake while maintaining the company’s Canadian focus on critical minerals.

The three deposits add to Corazon’s existing portfolio of seven zinc-copper-gold deposits within its 100 per cent-owned Lynn Lake tenure, and include:

The high-grade MacBride deposit that hosts historically published metal endowment, with continuity from surface to approx. 300m drilled depth.

The deposit has been drilled by previous owners over a 400m strike and remains open in all direction – the deposit is part of a 1,800m long EM conductor defined by modern aerial geophysics.

The Wellmet prospect displays surface copper and EM conductors.

Drilling of the main zinc horizon at Wellmet over a 240m strike has defined mineralisation from surface to approx. 370m depth.

Limited exploration drilling at the Barrington prospect has targeted a small outcrop reportedly approx. 107m in strike, averaging 4.6m in width and 2.63 per cent copper.

Corazon outlined its immediate work on the deposits will be focused on collating historical exploration data and defining the resource potential of the zinc-copper deposits within the Lynn Lake region and defining new targets and deposit extensions utilising the company’s own extensive dataset of modern geophysics.

“Our strategy for the Lynn Lake mining studies is to deliver low operational costs,” Corazon Mining chairperson Terry Streeter said in the company’s ASX announcement.

“The knock-on effect of this is that with lower costs, there are lower cutoff grades, resulting in a much larger mining inventory for consideration, within the existing resource areas.

“We don’t need more tonnes.

“This VMS concept is about value.

“The grade we see in some of these zinc-copper deposits is very good, and we will seek to establish if this is value we can exploit up-front for a restart of mining at Lynn Lake.

“Alternatively, we will explore whether the VMS deposits are better suited to mining later in the project’s mine plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Sayona Mining Drills Further High-Grade Moblan Intersections

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THE DRILL SERGEANT: Sayona Mining (ASX: SYA) released results of its 2023 drilling campaign at the company’s Moblan lithium project in the James Bay region of Quebec, Canada.

Sayona Mining explained the drilling program was designed to test extensions to mineralisation and provide in-fill data for the upgrade of Mineral Resource categories.

The company reported that a total of 34 drillholes had revealed the potential of a single, large continuous orebody with the 2023 drill program demonstrating the potential to increase the mineral resource base at Moblan.

Individual dykes have been documented and modelled comprising the Main Zone, South Zone, Inter Zone and Moleon domain.

Drilling results include:

New South Pegmatites (East):

1331-23-515
41.8 metres at 1.44 per cent lithium oxide (Li2O) from 206.2m; and

1331-23-516
40m at 1.37 per cent Li2O from 253m.

New South Pegmatites (West):

1331-23-678
39.55m at 1.63 per cent Li2O from 38m.

Moleon Pegmatites:

1331-23-689
44.95m at 1.56 per cent Li2O from 81.05m; and

1331-23-689
46.75m at 1.49 per cent Li2O from 197.35m.

“Moblan continues to present outstanding high-grade drilling results over wide intersections,” Sayona Mining interim CEO James Brown said in the company’s ASX announcement.

“Today’s announcement emphasises the continuation of known mineralisation and areas of in-fill between zones, suggesting considerable potential for uncovering additional extensions to this premium lithium deposit.

“Recent results from both Moblan and NAL reinforce the quality and potential of both the Abitibi-Temiscamingue and Eeyou Istchee James Bay hubs which provides Sayona an abundance of options and potential flexibility for development of an integrated lithium business in Quebec.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Tesoro Gold Claims High-Grade Gold Discovery at Drone Hill

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THE DRILL SERGEANT: Tesoro Gold (ASX: TSO) reported on recent drilling activities undertaken at the company’s El Zorro gold project in Chile.

Tesoro Gold received results from three holes of first-pass diamond drilling at the Drone Hill target that sits approximately 700 metres northwest of the project’s 1.3 million ounces Ternera gold deposit.

Drone Hill is one of four high-priority drill targets Tesoro has located within a 1.5 kilometre radius of Ternera.

The company said the results returned from diamond drilling at the Drone Hill target confirm the continuity of high-grade fault zones extending northwest from Ternera with shallow, very high-grade gold returned in:

ZDDH0338
1.8 metres at 77.15 grams pr tonne gold from 59.2m, including 0.8m at 173g/t gold from 59.2m, and
3m at 2.48g/t gold from 111m, including 1m at 7.06g/t gold from 111m.

“The exceptional results returned from first pass drilling at Drone Hill are highly encouraging and represent some of the highest grades intersected at the El Zorro gold project to date,” Tesoro Gold managing director Zeff Reeves said in the company’s ASX announcement.

“Gold discovered in these initial holes is associated with a northwest-trending fault system that also hosts high-grade mineralisation within the Ternera gold deposit.

“This fault system has the potential to link Ternera to Drone Hill over 700 metres of strike.

“We are focused on exploration at four high-priority targets to delineate additional shallow gold extending from or near to Ternera.

“Any additional resource ounces that are discovered so close to our existing deposit have the potential to meaningfully elevate the already attractive Ternera economics.”

A further four diamond drill holes have been completed, two at the Buzzard target and two at Ternera East, with assay results expected in the coming weeks.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Global Lithium Resources Increases Manna Lithium Deposit Mineral Resource

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THE DRILL SERGEANT: Global Lithium Resources (ASX: GL1) has increased the Mineral Resource Estimate (MRE) and contained lithium oxide content for the company’s 100 per cent-owned Manna lithium project near Kalgoorlie in Western Australia.

Global Lithium Resources reported the updated Manna lithium deposit MRE to now stand at 51.6 million tonnes at 1 per cent lithium oxide (Li2O).

Numbers associated with the update are compelling with the MRE positioning the project as the 2nd largest lithium resource in the Eastern Goldfields.

These numbers include a 43 per cent increase in the Manna lithium project Mineral Resource tonnes to 51.6 million tonnes, a 26 per cent increase in total contained Li2O from 406,000 tonnes to 515,000 tonnes, contained lithium carbonate equivalent (LCE) of 1.276 million tonnes, and a 63 per cent increase in the higher confidence indicated JORC classification to 32.9 million tonnes at 1.04 per cent Li2O.

“The company is pleased with this significant Mineral Resource upgrade at our 100 per cent-owned Manna lithium project, a great outcome following the extensive and safely executed exploration program our team undertook during 2023,” Global Lithium Resources managing director Ron Mitchell said in the company’s ASX announcement.

“The 63 per cent increase in the indicated resource classification is particularly important as we continue to advance our geological understanding of the deposit.

“I am delighted to report this increase in the overall tonnage and contained lithium mineralisation within the Manna lithium deposit.

“This growing resource demonstrates that Manna has potential to become one of the most important near-term lithium development projects in Western Australia, a proven low risk mining jurisdiction.

“This Mineral Resource upgrade will be included in the mine schedule and planning for the Manna DFS which is now well advanced.

“Coupled with the positive technical results in relation to our commercial scale ore sorting trials and ongoing metallurgical test work, our confidence in the robustness of the Manna deposit has grown.

“The Global Lithium team is now heavily focussed on executing several parallel project related activities including the near-term completion of all material project approvals, our CY24 exploration campaign and the conclusion of the Manna DFS.

“We look forward to updating shareholders in the coming months as these milestones are delivered.”

 

Global Lithium Resources managing director Ron Mitchell at RIU Sydney Resources Round-up

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Adelong Gold Commences Phase 2 Exploration at Paraiba Tenements in Brazil

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THE DRILL SERGEANT: Adelong Gold (ASX: ADG) has commenced Phase 2 exploration activities at the company’s Paraiba tenements in Brazil.

Adelong Gold explained the new exploration phase is designed to build upon previous preliminary reconnaissance results while enhancing the company’s understanding of the mineral potential in the region.

The 10 Brazilian licenses that Adelong was granted in March this year in the Paraiba Province project are divided into two blocks: North Block (2 tenements near the Nova Palmeira town) and Southwest Block (8 tenements near the Taperoá town).

The granted licenses represent two areas approximately 82km apart.

Area 1 comprises two licenses covering 11.31 square kilometres, rated as highly prospective for lithium pegmatites and surrounded by permits already granted for such minerals as beryl and tantalum.

Area 2 comprises 8 licenses covering a total area of 151.49sqkm.

Within this shear zone, there are beryl and aquamarine occurrences and granted tenements, suggesting this shear zone hosts pegmatite deposits.

“We are excited to commence Phase 2 of our exploration at the Paraiba Tenements,” Adelong Gold managing director Ian Holland said in the company’s ASX announcement.

“The initial findings, along with those of some of our neighbours, have been very promising.

“This next phase will allow us to further evaluate the potential of this region.

“Our goal is to unlock significant value from these tenements and contribute to the growth of Adelong Gold.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

 

Copper Search Drilling High Priority Copper Prospects

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THE DRILL SERGEANT: Copper Search (ASX: CUS) has kicked off a two-hole diamond core drilling program at the company’s Peake project in the Gawler Craton of South Australia.

Copper Search is undertaking the diamond core drilling with the aim to identify large-scale copper-gold deposits, targeting what it considers targets of similar scale potential to Prominent Hill and Carrapateena.

Drilling has commenced on the first target – the Paradise Dam prospect with a planned depth of 600 metres.

The second drill hole will test the Douglas Creek prospect, which the company has defined as being a large-scale shallow classic IOCG-style coincident ‘Magnetics and Gravity’ anomaly.

“I am delighted that drilling has commenced to test these quality large-scale copper prospects that could add significant shareholder value,” Copper Search CEO and exploration manager Duncan Chessell said in the company’s ASX announcement.

“The compelling drill targets have been developed from $2 million of geophysics data acquisition, $4 million of drill testing and iterative refining of the exploration model from our highly credentialled technical team from an original 40 geophysical anomalies over the last three years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

Great Boulder Resources Extends Mulga Bill with New High-Grade Gold Vein Discovery

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) reported on recent exploration activities completed at the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources carried out drilling at the northern end of Mulga Bill, from which it has claimed discovery of a new shallow high-grade vein extending approx. 150 metres north of the project’s current JORC Mineral Resource of 7.45 million tonnes at 2.8 grams per tonne gold for 668,000 ounces of gold.

Highlights from the recent campaign include:

24MBRC001
32 metres at 8.38 grams per tonne gold from 104m, including 18m at 13.76g/t gold from 104m;

24MBRC002
16m at 2.12g/t gold from 108m, including 4m at 5.68g/t gold from 108m; and

24SWAC194
26m at 3.31g/t gold from 88m, including 8m at 10.02g/t gold from 88m.

The new vein discovery at Mulga Bill extends into Mulga Bill North, where drilling has now defined gold mineralisation over 1.5km of strike.

“This is an extremely exciting development at Mulga Bill, with the discovery of a thick high-grade vein immediately north of the current Mulga Bill resource,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“Our drilling has defined it over 150 metres of strike, with indications that it could extend 350 metres or more.

“It appears to have the same orientation as high-grade veins previously discovered within the resource area and has the potential to be a significant extension to the Mulga Bill deposit.

“This new discovery connects the Mulga Bill and Mulga Bill North prospects.

“Mulga Bill North is 1,500 metres long and still relatively poorly drilled.

“It’s a big gold system and we definitely haven’t defined the full extent of it yet.

“The northern end of Mulga Bill is the shallowest part of the mineral resource, so any additional gold ounces defined in that area have good potential to enhance the economics of the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE