Genesis Minerals Encounters Thick Shallow Gold Zones

/in , /by

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported recent drilling from the company’s Barimaia Joint Venture gold project in the Murchison District of Western Australia.

Genesis Minerals said the drilling had continued to confirm and define a shallow gold mineralisation system with strong open pit potential at the Barimaia JV.

The company has received results from a 21-hole/2,140m Reverse Circulation (RC) drilling program it completed late last year, which it considers has further enhanced the prospectivity of the project.

Thick zones of mineralisation were intersected with results including:

18BARC028
74 metres at 0.66 grams per tonne gold from 59m, including 8m at 1.44g/t gold from 59m, including 7m at 1.79g/t gold from 77m, including 5m at 2.18g/t gold from 106m;

18BARC029
26m at 1.15g/t gold from 17m, including 11m at 2.21g/t gold from 18m and 6m at 2.56g/t gold from 103m, including 1m at 12.6 gold from 107m;

18BARC031
29m at 0.84g/t gold from 43m, including 8m at 2.08g/t gold from 63m and 28m at 0.71g/t gold from 90m, including 6m at 1.44g/t gold from 102m;

18BARC037
14m at 0.87g/t gold from 77m;

18BARC041
12m at 1.61g/t gold from 93m;

18BARC042
11m at 1.08g/t gold from 82m, including 2m at 1.38g/t gold from 82m, including 2m at 4.23g/t gold from 90m and 3m at 1.64g/t gold from 104m; and

18BARC046
17m at 0.94g/t gold from 51m o including 9m at 1.38g/t gold from 57m.

“We are very encouraged by the potential we now see at Barimaia to define a very large shallow gold system,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“The application of a new geological interpretation based on an east-west orientation of the controlling structures has allowed us to turn the rig around and deliver some broad zones of gold mineralisation over a very extensive area.

“We now see clear potential to define shallow gold resources with strong open pit potential within a one-kilometre long corridor that has been tested with wide-spaced drilling to date.

“What is particularly exciting is the fact that there is over four kilometres of strike of the same controlling structure to be systematically drill tested.

“Given its strategic location in a region with proven gold endowment, as highlighted by the nearby Mt Magnet gold mine, Barimaia remains a great growth opportunity for the company, and we are looking forward to getting back with more drilling this year to allow us to define an initial JORC Mineral Resource while also continuing to test the broader gold trend.

“Our focus remains squarely on advancing our flagship Ulysses gold project near Leonora as quickly as we can, but this is not a bad second string to have to our bow, and we’ll be doing as much as we possibly can to unlock its value for our shareholders.”

 

Email: info@genesisminerals.com.au

Website: www.genesisminerals.com.au

 

Galan Lithium Hits Brines with First Drillhole

/in , /by

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) informed the market of its encounter with a substantial intercept of brine from its maiden drillhole at the company’s Candelas lithium brine project, located on the Hombre Muerto salar in Argentina

Galan Lithium reported the hole, C‐01‐19, encountered the intercept from depths of approximately 235 metres to a depth of approximately 300m.

The company explained the hole had initially intersected around 9m of alluvial cover before intersecting a thick layer of ignimbrite (a volcanic pyroclastic flow) to 165m and went on to meet a sequence of sands and clays hosting salty waters which then, at about 235m, turned to brines hosted within coarse clastic sediments including a breccia‐conglomerate.

Conductivity measurements from brine samples exceeded the 200 milli siemens/cm limits of the field recording instrument.

Galan Lithium said the early results from its first hole drilled at Candelas had confirmed its geological model that brine does exist within the feeder channel into Hombre Muerto and that it was obviously in the early stages of exploration at the project it was greatly encouraged by this initial success and now awaits confirmation that the brine is lithium bearing from preliminary samples which are to be transported to the laboratory in Argentina.

Samples will also be collected and sent to the USA for porosity test work particularly to determine specific yield (drainable porosity).

Should the testwork confirm expectations then Galan will aim to fast track the exploration at Candelas with the aim of targeting a resource as soon as practicable.

This current maiden drill program is planned to comprise five holes drilled along the approx. 15-kilometre extent of the Candelas channel.

“We are delighted that we have successfully encountered this amount of brine in ideal host sediments in our very first drillhole at Candelas,” Galan Lithium managing director, Juan Pablo Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“Whilst we still await confirmation that the brine is lithium bearing, the fact that brines even exist in an area not previously thought to be prospective is particularly pleasing and augers well for the continued exploration of the 15-kilometre long channel at the project.”

 

Email: admin@galanlithium.com.au

Website: www.galanlithium.com.au

 

Calidus Resources Grows Warrawoona Gold Resource by 75%

/in , /by

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced a substantial increase to its Mineral Resource with a high conversion to Indicated Mineral Resources at the company’s 100 per cent-owned Warrawoona gold project, located in the Pilbara of Western Australia.

Calidus Resources has taken the total JORC 2012-compliant Mineral Resource (Measured, Indicated and Inferred) for the Warrawoona project to21.2 million tonnes at 1.83 grams per tonne gold for 1.25 million ounces.

The total includes a 75 per cent increase (1.25 million ounces) in total contained ounces from the previously announced December 2017 Mineral Resource.

The Mineral Resource contains a high‐grade component estimated to contain 14.6 million tonnes at 2.37g/t gold for 1.1 million ounces.

The company said the Resource remains open both at depth and along strike, and that it considers potential exists for further resource growth.

The updated Resource will be incorporated into the Pre‐Feasibility Study, which is progressing and due for completion later this year.

The company indicated the major contributor to the Resource increase being the Klondyke Main Shear, which encompasses the Klondyke East prospect as well as the St George Shear prospect lying 150m immediately to the north of the Klondyke Main Shear.

Infill and extensional drilling increased overall shallow Resources by 42 per cent to a total of 17.8 million tonnes at 1.62g/t gold for 930,000 ounces (at a 0.5g/t Au cut‐off).

Calidus explained that at a 0.8g/t Au cut‐off, the shallow portion of the Klondyke resource is potentially amenable to open‐pit mining comprising 800,000 ounces at a grade of 2.19g/t gold.

The company said it has developed the he updated Resource to demonstrate proof‐of‐concept of the potential for underground development of Klondyke Deeps with an initial resource of 2.2 million tonnes at 3.13g/t gold for 220,000 ounces (at a 2g/t Au cut‐off) of all mineralised material below the 100mRL (200m below surface).

“To effectively triple our high‐grade resource base to 1.25 million ounces within 18 months of listing highlights the unique attributes of the major gold system at Warrawoona,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Given the shallow and high‐grade nature of the resource and its prime location in proximity to high‐quality infrastructure and a number of operating mines, Warrawoona has rapidly emerged as a highly‐valuable asset which we believe will clearly justify the development of a standalone mining and processing operation.

“The updated resource will underpin the pre‐feasibility study that is due for completion in Q3‐CY2019 and the subsequent bankable study as we continue our strategy of becoming a low risk, near term gold producer.

“There is obvious opportunity to grow the Mineral Resource along strike and at depth, plus we will evaluate and test a number of regional prospects in 2019, which have excellent potential to generate shallow ounces that could be included within our overall Mineral Resource inventory.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Corazon Mining Identifies Mt Gilmore Copper Targets

/in , /by

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared the discovery of a major copper-cobalt-silver-gold trend at the company’s Mt Gilmore project in New South Wales.

Corazon Mining’s recent exploration activity has resulted in the discovery of multiple, large (plus-1km) priority targets within a major copper-cobalt-silver-gold feature of more than 11 kilometres in strike length, which forms part of the currently defined 22 kilometre-long, mineralised Mt Gilmore Trend.

Corazon said the newly identified Mt Gilmore geochemical trend represents a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits and provides the company with a unique early-stage copper-driven opportunity in eastern Australia.

The region has had little or no modern exploration or drill testing within the priority areas defined.

Corazon identified the geochemical anomalies from surface sampling undertaken that was part of a program that took 3,893 soil samples and 230 rock-chip samples that provided evidence of an extensive hydrothermal event within the project, containing metal associations indicative of large intrusive related copper-gold systems.

This sampling tested what Corazon has interpreted as high-grade ‘leakage structures’ extending from much larger, concealed, copper sulphide-rich hydrothermal centres.

These structures, in isolation, also provide prospective targets for further exploration and drilling.

“Corazon’s assessment that the numerous occurrences of copper-cobalt-gold mineralisation identified in late-1800s/early-1900s small scale mining operations may in fact be part of a much larger system, represents a significant advancement for the project, substantially increasing it’s potential,” Corazon Mining said in its ASX announcement.

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Carawine Resources Claims Hill 800 Gold Discovery

/in , /by

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced results from the first hole of a Phase 2 drilling program at Hill 800 gold prospect, located within the company’s 100 per cent-owned Jamieson project in northeast Victoria.

Carawine Resources said the results indicate the discovery of a new gold zone that has the potential to add significant size to the deposit.

The assay results in question are from drill hole H8DD015 that Carawine completed in late December 2018, targeting the continuation of gold and copper mineralisation in the Footwall Stringer Zone.

Results include high-grade intervals of:

H8DD015
6 metres at 4.54 grams per tonne gold, 0.3 per cent copper from 270m (0.3g/t gold cut-off), including 2m at 13.3g/t gold, 0.6 per cent copper from 270m (1g/t gold cut-off).

The hole also intersected a 44m interval of intense silica-sericite-pyrite alteration identical to the 740 and 800 Zones higher in the sequence, in an area untested by previous drilling.

An assay interval was returned from this new 650 Zone of:

33m at 0.86g/t gold from 229m (0.3g/t gold cut-off), including 22m at 1.12g/t gold from 230m (1g/t gold cut-off).

In the company’s announcement to the Australian Securities Exchange, Carawine Resources managing director David Boyd said the discovery of a broad new zone of gold mineralisation associated with intense silica-sericite-pyrite alteration in the 650 Zone, and confirmation of further high-grade mineralisation in the Footwall Stringer zone represents a fantastic start to the second phase of drilling at Hill 800.

“We are less than 12 months into our exploration at Hill 800 and have already discovered four distinct zones of gold mineralisation, putting Carawine in a great position to significantly expand the deposit,” Boyd continued.

“Multiple gold zones are typical for this type of deposit, and the 650 Zone discovery confirms the exploration model, targeting additional stacked systems at Hill 800.

“Drilling is underway with the next two holes targeting further strike extensions to the mineralisation.

“We look forward to advancing the drilling program during February and March and updating our shareholders with additional results in the coming months.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Bellevue Gold Increases Resources Over 1.5M Ounces

/in , /by

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) announced a further resource upgrade at the company’s Bellevue gold project in Western Australia.

Bellevue Gold increased the Inferred resource estimate for the project, taking it to 4 million tonnes at 11.8 grams per tonne gold for 1.53 million ounces of gold (3.5g/t gold cut-off).

The company said the upgrade was the result of recent drilling it completed in 2018 to extend mineralisation of the historic Bellevue Lode and mineralisation adjacent the underground workings, known as the Bellevue Surrounds resource area.

The latest upgrade represents a 54 per cent increase in global tonnes, a 47 per cent increase in contained metal and only a 4 per cent reduction in global grade.

Mineralisation remains open and further expansion drilling is continuing with four diamond core drill rigs currently operating.

“The company is delighted to announce a further substantial resource upgrade at the Bellevue gold project,” Bellevue Gold executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The exploration team has discovered and delineated in excess of 1.5 million ounces of high-grade gold in just over 12 months since resource drilling commenced and at a very low discovery cost of less than $15 per ounce.

“The latest upgrade once again confirms the exceptional quality of the Bellevue gold project, which is globally one of the highest-grade and fastest growing gold projects and we are confident further drilling will continue to rapidly advance the resource base in 2019.

“This Bellevue Surrounds resource estimate is important for the project as it is located within metres of the historic underground mine development.

“The company has now turned its attention to delineating further resource ounces from step-out drilling with the four drill rigs at the very high-grade Viago Lode and Western Corridor.

“We anticipate the next round of drill results in the very near future and a further resource upgrade in a few months time during the second quarter.”

 

Email: admin@bellevuegold.com.au

Website: www.bellevuegold.com.au

 

VRX Silica Acquires Boyatup Silica Sand Project

/in , /by

THE BOURSE WHISPERER: VRX Silica (ASX: VRX) completed an agreement with Silatec Pty Ltd for the acquisition of the Boyatup silica sand project, located 100 kilometres east of the Western Australian port town of Esperance.

VRX Silica will issue two million of the Company’s ordinary fully paid shares plus $10,000 in full consideration for the acquisition of Boyatup, located on E69/3560 which has a total area of 105.7 square kilometres.

The project is connected to the Esperance Bulk Port via a sealed road which by-passes the city of Esperance.

The tenement is almost totally covered by vacant crown land (VCL), only a very small section is over farming freehold land which is of no interest.

The Esperance Deep Water Bulk Port has been the exit port for bulk nickel and iron ore commodities and can load ships of up to 200,000 tonnes.

“The Boyatup deposit is subtlety different to the company’s Arrowsmith and Muchea silica sand projects and can provide yet another option in the product range that the company can market in Asia,” VRX Silica managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“The company will conduct a first pass drill program following an Aboriginal Heritage study on the granted PoW drill sites.

“The drill program will also provide adequate sample for a preliminary testwork program to determine the final sand quality, a preferred process circuit design and supply potential product samples to be forwarded to interested buyers

“The company, and its International Marketing Manager have now compiled a significant number of potential buyers for glass making and foundry industry raw materials.”

 

Email: info@vrxsilica.com.au

Website: www.vrxsilica.com.au

 

Magnetic Resources Extends HN9 Over 2km

/in , /by

THE DRILL SERGEANT: Magnetic Resources (ASX: MAG) reported on recent drilling activity at the company’s Hawks Nest 9 (HN9) gold target, located outside Laverton in Western Australia.

Magnetic Resources completed a 40-hole RC drill program at HN9, focussing on a two-kilometre long sheared gold rich porphyry where it has outlined a large coherent mineralised zone by drilling detailed spacing of 50m apart.

The company has drilled a total of 104 shallow holes making up the 24 drill lines it has completed to date, which average 95m in length.

Twenty of the twenty-four drill-lines (83 per cent) have gold intersections remaining open to the east and are being followed up with another 51 RC holes.

Magnetic explained this drilling is aimed at mainly extending the mineralised zone to at least 120 to 150m down dip and to infill drill the numerous promising gold rich zones already identified.

“With the Australian gold price greater than $1,800 the HN9 project, which is only 15 kilometres northwest of the Granny Smith Operations owned by Gold Fields Australia Pty Ltd and only10 kilometres northeast of the Jupiter Operations owned by Dacian Gold Ltd at Laverton, WA., is shaping up and has potential for a large-scale shallow deposit based on the two-kilometre mineralised shear zone and the open down dip gold mineralisation,” Magnetic Resources managing director George Sakalidis said in the company’s announcement to the Australian Securities Exchange.

“This significant two-kilometre target is coherent where it has been drill tested within its central 1.5 kilometres and is defined by 104 holes over 24 lines spaced around 50 metres apart and is between 50 to 200 metres wide and is open to the north and south and is currently being further investigated over a large 3.6-kilometre length.”

 

Website: www.magres.com.au

 

Southern Gold Confirms High-Grade Weolyu South Zones

/in , /by

THE DRILL SERGEANT: Southern Gold (ASX: SAU) announced completion of a second phase of systematic underground channel sampling at the company’s 100 per cent-owned Weolyu South gold-silver project in central South Korea.

Southern Gold explained the sampling had been designed to infill and extend previous results and as a quality assurance (QAQC) program checking on assaying protocols.

In this new phase of work a total of 18 new channel sample lines were taken as infill or extensional samples and a further 29 lines were re-assayed for 34 samples, from coarse rejects retained from an initial round of sampling carried out in 2017

New samples were collected from three horizons along the historical drives.

Intercepts included:

0.4 metres at 32.8 grams per tonne gold and 764g/t silver;
0.45m at 30g/t gold and 1,280g/t silver; and
0.55m at 28.9g/t gold and 1,350g/t silver.

The company said these newly reported results have continued to produce excellent gold and silver grades associated with the three currently defined high grade zones or shoots.

A review into sample preparation and assaying results was conducted as part of a general QAQC review through a third-party laboratory following indications of statistical variance in the original analysis.

This review returned a variance on all sample fire assay gold results including an average 30 per cent increase in gold grades from the Weolyu samples, a substantial uplift, which the company considers having an impact on economic potential with a clear high-grade gold-silver zone showing greater consistency.

“Weolyu is Southern Gold’s premier exploration target and continues to impress with its very high-grade gold and silver tenor from high quality drill-equivalent channel samples at close to true width on the vein,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“This underground channel sampling is on only one vein system while we have identified multiple epithermal quartz veins on surface, most of which remain untested by drilling.

“The company plans to drill the down plunge extension of this very high-grade gold-silver system and the other untested epithermal quartz vein systems in the coming year.”

 

Email: info@southerngold.com.au

Website: www.southerngold.com.au

 

Alliance Resources Strikes First Weednanna Blow for 2019

/in , /by

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released the latest results from aircore drilling for gold underway at the company’s Wilcherry Project Joint Venture in South Australia between Alliance (79.01%) and Tyranna Resources (ASX: TYX) (20.99%).

Alliance Resources carried out the drilling at Weednanna East and close to the Weednanna gold deposit.

Aiilaince completed a total of eighty-five (85) aircore drillholes for 3,101 metres as a first pass test to extend known gold in regolith anomalism at Weednanna East.

This drilling program consisted 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.

Assay results have now been received with four holes returning greater than 100ppb gold with a best result of:

18WDAC078
2 metres at 1.31 grams per tonne gold from 49m.

The zone of discontinuous greater-than 100ppb gold anomalism extends over 1,000m and is open in the north.

Alliance explained that most of the gold anomalism has a northeast trend and is located towards the end of hole, near the saprolite/saprock boundary.

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

Alliance interpreted the results to show the magnitude and distribution of gold in the regolith may be indicative of primary gold mineralisation and has therefore determined 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,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

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

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au