Riversgold Scores New Farr-Jones Discoveries

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THE DRILL SERGEANT: Riversgold (ASX: RGL) announced completion of first aircore drilling at the company’s 80 per cent-owned Farr-Jones project near Kalgoorlie in Western Australia.

Riversgold sai the recent drilling had returned gold results from several holes, including from the first holes drilled at the new Eales and Little targets.

Highlights from the drilling include:

FJAC0021
12m at 1,904ppb gold from 36m, including 8m at 2,818ppb gold (Little);

FJAC0012
4m at 1,026ppb gold from 56m (Eales); and

FJAC0007
12m at 1,174ppb gold from 84m, including 8m at 1,732ppb gold (North Farr-Jones).

“We were previously looking at the potential for a single gold deposit at Farr-Jones, but we have now discovered oxide and/or primary gold mineralisation over 2.5 kilometres of strike beneath soil anomalies at FarrJones, Eales and Little, with a number of other soil anomalies still to test,” Riversgold managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“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.”

Website: www.riversgold.com.au

NTM Encouraged by Hub RC Drilling

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THE DRILL SERGEANT: NTM Gold (ASX: NTM) released the first reverse circulation (RC) drill results from the Hub prospect at the company’s Redcliffe gold project located near Leonora, Western Australia.

NTM Gold explained the drilling targeted the discovery traverse to replicate initial shallow results from a previously announced aircore program in order to test mineralisation at depth and along the interpreted strike.

Five-metre RC composite samples were returned, which the company said had confirmed the aircore results, as well as highlighting that the mineralisation continues at depth.

Better results included:

18RRC001
20 metres at 3.26 grams per tonne gold from 30m, including 10m at 4.88g/t gold from 40m;

18RRC002
5m at 2.16g/t gold from 155m;

18RRC003
30m at 2.28g/t gold from 155m, including 5m at 6.49g/t gold from 155m;

18RRC003
5m at 1.6g/t gold from 220m; and

18RRC003
5m at 3.2g/t gold from 255m.

NTM has interpreted the results it has received to date to show gold mineralisation appears to be steeply dipping and of similar orientation seen in its other Redcliffe deposits.

Mineralisation was intersected in all three holes in the main drill traverse (18RRC001 – 003) though continuity appears to be impacted by the presence of a mafic dyke.

“While we were unable to drill as many holes as we had planned, those that were completed highlighted the significant potential of the Hub prospect,” NTM Gold managing director Andrew Muir said in the company’s announcement to the Australian Securities Exchange.

“The results confirmed that the mineralisation extends at depth, with good grades and widths encountered at over 250 metres downhole.

“More drilling is required to understand the strike and depth of the mineralisation, as well as the geometry and influence the mafic dyke may have on the mineralisation.

“We are due to recommence RC drilling at the Hub shortly, with drilling to then move to a number of other areas including Infinity, Nambi, Bindy, GTS and Redcliffe.

“NTM also plans to recommence aircore drilling later this quarter to delineate additional targets for RC drilling.”

Website: www.ntmgold.com.au

Musgrave Minerals Extends A-Zone Mineralisation

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further highly-encouraging assay results from diamond drilling undertaken at the A-Zone gold target at the Lake Austin North target.

Lake Austin North is located three kilometres north of the Break of Day gold deposit within the company’s Cue project in Western Australia’s Murchison district.

Recent diamond drilling has extended the basement gold mineralisation at A-Zone to more than 350 metres in strike where it remains open in all directions.

Drilling intersected:

18MODD009
137.2 metres at 0.6 grams per tonne gold from 97.8m down hole, including 20.2m at 2.3g/t gold from 194m;

18MODD011
239.4m at 0.4g/t gold from 71.6m down hole, including 43.2m at 1g/t gold from 115m; and

18MODD012
128.1m at 0.5g/t gold from 133.3m down hole, including 32m at 1.5g/t gold from 133.3m, including 9.7m at 3.1g/t gold from 133.3m.

Musgrave Minerals explained that drill hole 18MODD012 is now the most southerly basement hole to be drilled into A-Zone and the mineralisation remains open to the south and north.

The company has commenced a new diamond drilling program at A-Zone, from which it expects further assays in late February.

“Diamond drilling continues to extend the basement gold mineralisation at A-Zone with recent assays returning further thick intervals of mineralisation,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The system remains open in all directions with further drilling underway.

“Two drill rigs are currently operating and a third is expected to commence this week.

“Diamond drilling will continue to step-out and test the extents of the mineralisation along strike and down dip with the aim to outline the size and grade of this potentially large and exciting gold discovery.”

Website: www.musgraveminerals.com.au

Image Resources Generates First Revenue from Boonanarring

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THE BOURSE WHISPERER: Image Resources (ASX: IMA) has loaded the first bulk shipment of nominally 10,000 wet metric tonnes of heavy mineral concentrate (HMC) from the company’s 100 per cent-owned Boonanarring mineral sands project, located north of Perth in Western Australia.

Image Resources secured payment for the shipment by way of a letter of credit (LC) under a life-of-mine off-take agreement with Shantou Natfort Zirconium and Titanium Co., Ltd.

The company expects to cash the LC once the ship departs from Bunbury Port.

“The Operating group…has delivered on another very significant milestone for the company, being completion of the first bulk shipment of HMC and receipt of first revenue,” Image Resources managing director Patrick Mutz said in the company’s announcement to the Australian Securities Exchange.

“We look forward to developing a routine nominal monthly shipping schedule to support our aggressive mining and processing schedule.”

Website: www.imageres.com.au

Australian Mines Picks-up Healthy R&D Rebate

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THE BOURSE WHISPERER: Australian Mines Limited (ASX: AUZ) received a rebate from the Australian Taxation Office of $1,911,075 in relation to the company’s research and development (R&D) expenditure during the 2017-18 financial year.

Australian Mines picked up the cheque in addition to a $295,765 R&D tax rebate it received in October 2018 and relates to continued development work completed at the company’s demonstration-size High-Pressure Acid Leach (HPAL) and solvent extraction (SX) plant located in Perth, Western Australia.

“The operation of the demonstration plant has continued to play an instrumental role for Australian Mines in our strategy to maximise economic returns from our assets, especially our flagship Sconi cobalt-nickel-scandium project in North Queensland,” Australian Mines managing director Benjamin Bell said in the company’s announcement to the Australian Securities Exchange.

“Not only has operation of the plant allowed optimisation of the proposed flowsheet for Sconi, the R&D work conducted has also allowed us to explore potential future commercial opportunities for scandium oxide expected to be produced at Sconi.”

Email: info@australianmines.com.au

Website: www.australianmines.com.au

Genesis Minerals Confirms Ulysses Satellite Discovery

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) announced an encounter with shallow oxide mineralisation at the Orient Well NW prospect, located east of the Ulysses Mineral Resource at the company’s 100 per cent-owned Ulysses gold project, 30 kilometres south of Leonora in Western Australia.

Genesis Minerals carried out follow-up drilling at Orient Well NW, claiming the result from which have confirmed a zone of shallow oxide gold mineralisation.

Assays returned:

18USRC302
20 metres at 9.1 grams per tonne gold from 50m;

18USRC264
28m at 0.69g/t gold from 62m, including 5m at 1.52g/t gold from 73m; and

18USRC265
8m at 1.8g/t gold from 108m.

Genesis Minerals said the results continue to demonstrate the potential to define Resources outside of the Ulysses deposit while highlighting the under-explored nature of the broader project.

Further extension drilling at Ulysses also produced encouraging results from wide-spaced, extensional RC drilling targeting strike extensions to the Ulysses Mineral Resource of 7.1 million tonnes at 3.3g/t gold for 760,400 ounces.

New extensional drilling results at Ulysses East, outside of the Resource, include:

18USRC293
10m at 3.05g/t gold from 102m; and

18USRC287
5m at 5.08g/t gold from 75m.

Genesis indicated its intentions to systematically test the potential high-grade gold shoot position the drilling has defined at Ulysses East.

Extensional drilling conducted immediately east of the Resource demonstrated mineralisation continues outside and to the east of the Resource with results including:

18USRC272
4m at 3.32g/t gold from 218m;

18USRC275
5m at 2.15g/t gold from 167m; and

18USRC282
4m at 2.44g/t gold from 150m.

“The outstanding results generated from shallow RC drilling at Orient Well NW show just how under-explored the broader Ulysses project is,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“We have now outlined a very prospective oxide zone which spans a strike length of at least 1.5 kilometres.

“Achieving intercepts such as 20 metres at 9 grams per tonne gold in a completely greenfields position is an outstanding result, and we are really looking forward to drilling out this satellite prospect to a Resource level during the first half of 2019.

“At the same time, we have now received the remaining results from extensional drilling completed at Ulysses last year following the updated 760,000-ounce Mineral Resource announcement.

“The assays have identified step-outs to the mineralisation at Ulysses East and confirmed the presence of a potential new high-grade shoot position which needs to be systematically drill tested at depth.

“Drilling will resume at Ulysses at the end of the month, initially with one rig focusing on extensions at Ulysses and drilling out Orient Well NW.

“We will progressively bring more rigs online as the results begin to flow.

“Our overall objective is to deliver another upgrade to the Ulysses Mineral Resource by the end of Q2 2019.”

Website: www.genesisminerals.com.au

Impact Minerals Confirms Further Commonwealth South Gold Mineralisation

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) announced high-grade assay results from the final two of eight diamond drill holes completed at the company’s 100 per cent-owned Commonwealth project, located north of Orange in New South Wales.

Impact Minerals said the latest results confirmed extensions to the mineralisation at the Commonwealth South prospect at the southern end of the Commonwealth deposit.

Assays from the two diamond drill holes at Commonwealth South confirmed extensions to near the surface resource both along trend and at depth:

Hole 086
8 metres at 5.1 grams per tonne gold, 20g/t silver, 1.3 per cent zinc and 0.5 per cent lead from 94 metres down hole, including 5m at 7.7g/t gold, 25g/t silver 2.1 per cent zinc and 0.7 per cent lead, which includes 0.5m at 34.3g/t gold, 40g/t silver, 5.8 per cent zinc and 2.3 per cent lead from 97.6 metres; and

Hole 087
6m at 1.5g/t gold, 22g/t silver, 0.7 per cent zinc and 0.2 per cent lead from 96.8 metres down hole, including 0.35m at 8.9g/t gold, 21g/t silver, 3.5 per cent zinc and 0.6 per cent lead.

Impact Minerals indicated a second lower zone of mineralisation was intersected from about 115 metres down hole with increasing gold grades at depth which is open.

Hole 087 in this zone returned 5m at 1.2g/t gold within a 12m thick zone of anomalous gold, silver, lead and zinc.

“The results have materially extended the down plunge extent of high-grade mineralisation at the southern end of the Commonwealth deposit, beyond the extent of the current resource outline,” Impact Minerals said in its ASX announcement.

“The results also further demonstrate that the deposit contains numerous narrow high-grade veins commonly carrying grades of between 10 grams per tonne and more than 30 grams per tonne gold.”

 

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

 

Alliance Resources Extends Weendanna Gold

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released results from the latest round of reverse circulation (RC) drilling at the Weednanna gold prospect, which forms part of the Wilcherry Project Joint Venture between Alliance (79.01%) and Tyranna Resources (ASX: TYX) (20.99%).

Alliance Resources said drilling during September consisted 28 RC holes, for 4,278 metres at the Weednanna prospect, returning the following gold intercepts:

18WDRC027
20 metres at 12.44 grams per tonne gold from 104m, including 8m at 28.57g/t gold from 112m;

18WDRC029
3m at 5.97g/t gold from 64m;

18WDRC030
5m at 3.06g/t gold from 145m;

18WDRC034
5m at 3.96g/t gold from 117m;

18WDRC039
22m at 1.29g/t gold from 64m, including 8m at 2.3 g/t gold from 64m.

“The 20 metres at 12.44 grams per tonne gold intercept continues to demonstrate the outstanding exploration potential at Weednanna for the discovery and definition of high-grade gold lodes at relatively shallow depth,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Vango Mining Confirms Cinnamon Gold Discovery

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THE DRILL SERGEANT: Vango Mining (ASX: VAN) announced further broad and high-grade gold intersections from a recently completed extension drilling program at the Cinnamon gold deposit, at the company’s 100 per cent‐owned Marymia gold project in the Mid-West region of Western Australia.

Vango Mining completed a two hole diamond drill program at Cinnamon designed to test down-plunge extensions of broad and high-grade gold zones associated with a plunging flexure in the conglomerate hosted mineralised structure.

The company has received assay results from the first hole, which it declared to have confirmed the presence of a broad zone of high-grade gold mineralisation, down-plunge from previous drilling intersections and open down-plunge to the west.

Results included:

VBGRCD0003

2 metres at 9.5 grams per tonne gold from 96m;

18m at 3.1g/t gold from 155m, including 4m at 4.59g/t gold from 162m;

2m at 4.04g/t gold from 185m; and

3m at 1.42g/t gold from 193m.

“These latest high-grade gold intersections at Cinnamon are highly significant to the company’s exploration and development strategy at the Marymia project, which aims to build a substantial resource inventory for processing at a proposed stand-alone gold mining and processing operation,” Vango Mining said in its ASX announcement.

 

 

Website: www.vangomining.com

 

Rox Resources MD Calls Time

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THE BOURSE WHISPERER: Rox Resources (ASX: RXL) announced that managing director Ian Mulholland has advised the Board of Directors of his intention to retire and step down from the position effective 30 April 2019.

Rox Resources is now on the hunt for a suitable replacement with Mulholland working on a reduced salary until his departure and being available to work with the Board and the new appointee to ensure a smooth transition.

“Ian was a co-founder of the company and has been with it since its inception in late 2003, leading to a successful IPO and ASX listing in April 2004,” Rox Resources chairman Stephen Dennis said in the company’s announcement to the Australian Securities Exchange.

“Along the way, Ian has made a significant contribution, including negotiation of a number of project acquisitions, including the Laos zinc project; the Reward zinc project, its subsequent Joint Venture with Teck, and the resulting sale of our interest for approximately $20 million; and the Mt Fisher gold and Fisher East and Collurabbie nickel projects that have led to JORC mineral resources being established and a Scoping Study completed on the Fisher East nickel project.

“The Fisher East nickel discovery led to Rox being awarded the Explorer of the Year in 2015 by Australian Mining, and the Teena zinc discovery resulted in Ian and two members of the Teck team sharing the prestigious AMEC Prospector Award in 2016.

“On behalf of the Rox Board of Directors, I want to thank Ian for his commitment and contribution to Rox over the past 15 years.

“We wish Ian well in his retirement, however I am certain he will continue to make a valuable contribution to the resources industry.”

In response Mulholland said he was proud of the achievements of Rox under his watch.

“It has been an honour and privilege to lead the company over the last 15 years,” <ulholland said.

“I wish to thank all of our staff, past and present, who have also contributed to our successes and supported me as managing director.

“I also wish to thank the three chairmen I have had the pleasure of working with, Dr Alistair Cowden, Mr Jeff Gresham, and Mr Stephen Dennis.

“I have benefitted greatly from their guidance and encouragement over the last 15 years.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au