Cassini Resources Spies New Targets at One Tree Hill

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) released results from recent drilling at the One Tree Hill prospect within the company’s West Musgrave Project (WMP) in Western Australia.

Cassini Resources is conducting the program, which is funded as part of an Earn-in/JV Agreement the company has with OZ Minerals (ASX: OZL), which recently moved to 51 per cent beneficial ownership in the project.

The JV is currently undertaking a Prefeasibility Study (PFS) on the Nebo-Babel deposits as well as a regional exploration program.

“The drilling results confirm our thinking that the mineralised system at One Tree Hill has scale,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“We have intersected more copper sulphide mineralisation and follow up DHEM has identified a significant conductor that could represent a large-scale extension to this mineralisation.

“We look forward to testing this target in our 2019 program.”

The JV completed two diamond drill holes targeting moving loop electromagnetic (MLEM) anomalies and extensions to previously encountered mineralisation.

The first of these, drill hole CZD0083A, returned:

24.65 metres at 0.69 per cent copper and 0.44 grams per tonne PGE from 337m with a higher grade core of 9m at 1.15 per cent copper and 0.64g/t PGE.

This intersection also included a massive sulphide zone of 2.6m at 0.96 per cent copper, 0.48 per cent nickel, 0.1 per cent cobalt and 1g/t PGE.

Cassini said the results were generally consistent with earlier results from drillhole CZD0017, which intersected a massive sulphide zone returning 3.2m at 2.16 per cent copper, 0.58 per cent nickel, 0.1 per cent cobalt and 1g/t PGE within a broader disseminated zone of 34m at 1.05 per cent copper and 0.5g/t PGE from 332m.

The JV has interpreted the results to show mineralisation appears continuous between CZD0017 and CZD0083A and remains open to the north.

A second diamond drill hole, CZD0087A, sited approximately 100m south of CZD0017, missed the target intrusion the company blamed on an apparent fault offset, striking east-west and has down-thrown the geology on the southern side.

However, the hole did intersect a 40m zone of PGE anomalism towards the bottom of hole, possibly representing the halo of magmatic mineralisation.

Of further note, a down hole electromagnetic survey (DHEM) in CZD0087A identified a large off-hole conductor, 240m long by 140m wide, with a modelled conductance of 4,400S, which is consistent with copper sulphide conductivity.

The conductor is less than 100m to the east of CZD0087A and given that the new geological interpretation suggests approximately 200m of displacement along the fault, the JV thinks this conductor may represent the extension of mineralisation observed in CZD0017, but on a much larger scale.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Corazon Mining Defines new Mt Gilmore Cobalt-Copper Anomalies

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced assay results from an on-going regional geochemical soil-sampling program at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining completed the extensive geochemical sampling program by collecting a total of 3,533 soil samples and 206 rock-chip samples at Mt Gilmore acquiring the project in 2016, with 3,335 assays now returned.

The company explained the program had been designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from the drill-defined Cobalt Ridge deposit, which has been Corazon’s priority target.

The soil-sampling program resulted in the discovery of multiple, new, high-tenor cobalt-copper-gold anomalies – with soil sampling results of up to 450ppm cobalt and 1,060ppm copper, supported by rock chip samples grading up to 1,795ppm cobalt and 16.3 per cent copper.

Corazon’s sampling program has tested approximately 19 kilometres of the Mt Gilmore Trend and has identified extensive metal-rich anomalism in soils over basement rocks, from which the company has deduced the metal-association and size of the anomalies to suggest the wider project area could host a substantial, long-lived hydrothermal mineralising event.

“The company’s geochemical sampling program has proven highly effective in mapping alteration and mineralisation within the outcropping basement rocks at Mt Gilmore, with results correlating positively with known mineralisation and identifying multiple new target areas,” Corazon Mining said in its ASX announcement.

“The results to date have far exceeded the company’s expectations, already identifying several new priority prospects, and, with most of the anomalous areas yet to be explored in detail, strong potential exists to define additional new targets.

“The tenor of these newly discovered cobalt anomalies are on par with the outcropping Cobalt Ridge deposit and potential exists for the discovery of additional cobalt-copper-gold sulphide deposits.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Lithium Australia Produces Batteries From Mine Waste

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) informed the market of work carried out by its wholly-owned subsidiary, VSPC Ltd.

Using Lithium Australia’s registered Sileach process, VSPC has produced Li-ion battery (LIB) cathode material, and Li-ion batteries, from tri-lithium phosphate produced directly from mine waste.

LIT’s ground-breaking SiLeach process removes the requirement for generating high-purity lithium hydroxide or carbonate, which has long been one of the most cost-intensive, and challenging steps in the manufacture of LIBs.

VSPC converted the tri-lithium phosphate to lithium-iron-phosphate (LFP) cathode material at its advanced electrochemical laboratory and pilot plant facility in Brisbane.

Lithium Australia explained that the proprietary processes used to generate the LFP nanoparticles is covered by patents granted to VSPC, resulting in the cathode material being independently characterised and determined to be of similar quality to VSPC standard LFP material.

LIT declared the test’s demonstrated ability to bypass lithium carbonate and lithium hydroxide as battery precursors, provides potential to greatly reduce the costs associated with battery manufacture.

It also demonstrated that use of mine waste in the battery production cycle can provide greater sustainability to global lithium resources.

Lithium Australia is also developing a process for direct production of cathode powders from lithium brines.

This could not only eliminate the requirement to produce high-purity lithium hydroxide or carbonate but also reduce the requirement for evaporation ponds.

Lithium Australia claimed the conversion of mine waste, to LIB without the requirement to produce a lithium hydroxide or lithium carbonate precursor as a world first that has potential to provide a commercial outcome to many stranded resources creating ethical and sustainable supply in the process.

“The remarkable outcome is a credit to our development team,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The most notable aspect of this achievement is its simplicity, and ability to streamline the processes and cost required to produce LIB cathode materials.

“The broader application to lithium brine exploitation provides enormous potential for that part of the lithium industry, by removing the cost intensive route to lithium hydroxide – the direct use of lithium phosphate to produce cathode powders may do that.”

 

Email: info@lithium-au.com

Website: www.lithium-au.com

 

Ventnor Resources Releases Maiden Muchea Silica Sand Project Resource

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THE DRILL SERGEANT: Ventnor Resources (ASX: VRX) released results from an independent estimate of the Mineral Resource at the company’s Muchea silica sand project, located 50 kilometres north of Perth.

Ventnor Resources declared the Mineral Resource estimate (MRE) for the Muchea project comprises a combined total of JORC Code 2012-compliant Indicated and Inferred Mineral Resources of 191 million tonnes at 99.6 per cent silicon dioxide (SiO2).

The Indicated component of the MRE comprises 19 million tonnes at 99.7 per cent SiO2, with the Inferred component being 172 million tonnes at 99.6 per cent SiO2.

Ventnor explained the Mineral Resource estimate was carried out by CSA Global, based on aircore and hand auger drilling carried out by Ventnor as part of its due diligence exercise during the March 2018 quarter, prior to the acquisition of the Muchea project in July 2018.

The company said the large Maiden Mineral Resource of high-grade silica sand vindicated its decision to acquire the project.

The area of the Inferred Mineral Resource estimate is predominately based on shallow hand auger results and has the potential to be deeper with a much larger Mineral Resource

Ventnor believes the Indicated Mineral Resource area is adequate for detailed mining studies, and closer spaced drilling will also extend the area and tonnage for a potential Ore Reserve.

A third round of testwork is being finalised, with additional attritioning that will be used to determine the final circuit design to produce a high-quality feedstock for ultra-clear glass production.

Testwork results are expected during the December 2018 quarter, to be followed by engineering studies.

“This Maiden Mineral Resource Estimate has confirmed our belief that the Muchea silica sand prospect is a world class high-grade deposit, which can be processed to supply almost any grade sand for glassmaking in Asia,” Ventnor Resources managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“The company will move quickly into detailed engineering and mining studies to support mining proposals for forwarding to relevant Government agencies to commence the approvals process.”

 

Website: www.ventnorresources.com.au

 

Saturn Metals Increases Apollo Hill Resource

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) completed an updated Mineral Resource estimate for the Apollo Hill gold deposit, part of the company’s 100 per cent-owned Apollo Hill gold project near Leonora in the Western Australian Goldfields.

Sturn Metals’ upgraded Mineral Resource for Apollo Hill totals 20.7 million tonnes at 1 gram per tonne gold for 685,000 ounces.

This represents a 36 per cent increase in contained ounces from the company’s previously published resource.

The new Resource incorporates the results of a 72-hole extensional and in-fill drilling campaign Saturn Metals completed earlier this year.

The company said it already has drilling in progress to further test the extents of the Apollo Hill gold system, adding that the drilling to date on the six-kilometre Apollo Hill trend is only a small part of the exploration potential on Saturn’s underexplored 1,000 square kilometre, 100 per cent-owned contiguous tenement package.

“This resource upgrade is a significant step for the company and the Apollo Hill asset only a short while after listing,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improvements in grade, ounces, tonnes, quality and JORC Code category, all with minimal drilling and at a low discovery cost per ounce, bode well for the development of our business.

“With some of the strongest intersections located at both the northern and southern extent of the deposit, the system is wide open for rapid expansion.

“Drilling has already resumed to test these targets and results from this expansionary phase of our journey will be reported in due course.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Gold Road Resources Encounters High-Grades at Gilmour Deposit

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THE DRILL SERGEANT: Gold Road Resources released results from framework exploration drilling being undertaken at the company’s 100 per cent-owned Southern projects within the Yamarna Belt, 200 kilometres east of Laverton in Western Australia.

Gold Road Resources said recent drilling results had confirmed continuity of high¬-grade gold mineralisation at the Gilmour deposit, returning intersects of:

18WDRC0183
4 metres at 19.61 grams per tonne gold from 111m, including 1m at 74.98g/t gold from 113m;

18WDDD0024
8.14m at 7.11g/t gold from 261m, including 1.23m at 31.98g/t gold from 267.91m;

18WDRC0178
3m at 12.77g/t gold from 170m, including 2m at 18.98g/t gold from 170m; and

18WDRC0179
5m at 5.12g/t gold from 219m, including 1m at 24.06g/t gold from 221m.

Gold Road explained that Resource definition drilling is underway over a 500-metre strike length and that mineralisation intersected to date, over 250 metres below surface is open at depth.

Work to date has demonstrated the main mineralised shear zone is approximately three to five metres wide and is characterised by coarse visible gold within a highly continuous laminated quartz vein, with moderate alteration and lesser subsidiary gold¬-bearing veins.

Gold Road has completed a conceptual economic assessment based on a preliminary geological model derived from the current broad drilling information.

The company has been encouraged by the results, which it said justified ongoing follow-¬up extensional diamond and infill Reverse Circulation (RC) drilling programs that it anticipates completing during the December 2018 quarter.

“The Gilmour deposit is shaping up to be a very interesting discovery on our 100 per cent-owned ground, exhibiting excellent continuity of mineralisation characterised by a consistent and predictable gold¬-bearing quartz vein in most intersections,” Gold Road Resources executive director¬ exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“A diligent focus on understanding both the geological controls to mineralisation, and the potential economic value of the discovery has allowed the team to rapidly advance the project to detailed drilling capable of supporting potential future resource modelling activities.

“The widths, grades, and extent of mineralisation identified to date provide the encouragement to progress Gilmour as one of the priority projects going into 2019.”

 

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

 

Peel Mining Scores Big Hit at Southern Nights

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) described the latest intercept encountered at the company’s 100 per cent- owned Wagga Tank project, south of Cobar in western New South Wales as, “stunning”.

Peel Mining said the latest result enhanced the Wagga Tank project’s reputation, which includes the Southern Nights prospect, as emerging to be one of the most significant zinc polymetallic discoveries in Australia in recent years.

Drillhole WTRCDD150 returned the spectacular zinc-lead-silver-gold-copper mineralisation intersection occurring as sphalerite-galena-chalcopyrite rich massive sulphides, with a downhole mineralised interval of 18.2 metres at 40.3 per cent zinc, 15.7 per cent lead, 0.97 per cent copper, 356 grams per tonne silver and 2.77g/t gold from 182m.

Peel had drilled WTRCDD150 to infill Southern Nights Central Zone, adjacent to drillholes WTRCDD033 and WTRCDD035, where very strong mineralisation was previously returned.

The company claimed the interval returned from WTRCDD150 to rank as the highest-grade zinc-rich intercept that it has reported since its inception, and when coupled with adjacent drillhole intercepts, indicates a zone of near-surface, very high-grade mineralisation.

The intercept further highlights the economic potential of the Southern Nights discovery and the unsurpassed tenor associated with Cobar Basin mineral systems.

As a result, Peel is targeting this area with close-spaced infill drilling to better define the geometry and scale of the target zone.

Drilling now underway is part of an approximate 20,000m RC and diamond drilling program designed to enable the completion of a maiden JORC-compliant mineral resource estimate by the end of the 2018/19 financial year.

The program is also designed to test for extensions to the mineralised system, which remains open along strike and at depth.

Two multi-purpose (RC/diamond) drill rigs recently commenced drilling on a double shift (24/7) basis, to systematically infill and extend the current two-kilometre long footprint of the Wagga Tank-Southern Nights mineral system.

“The ultra-high-grade massive sulphides returned from WTRCDD150 are awe-inspiring, highlighting the prize that the Cobar Basin can deliver, and reaffirming the company’s recent decision to acquire the royalty associated with the project,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“With funding secured and 100 per cent unfettered ownership, Peel can expeditiously drill test this area to better determine its geometry, scale and evident economic potential.”

 

Email: info@peelmining.com.au

Website: www.peelmining.com.au

 

Intermin Resources Encounters Gold Hits at Crake Prospect

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC) announced further reverse circulation (RC) drilling results from the company’s 100 per cent-owned Binduli gold project, located west of Kalgoorlie-Boulder in the Western Australian goldfields.

Intermin Resources completed drilling at the Crake prospect, part of the Binduli gold project area, consisting 85 RC holes for 8,096 metres drilled to an average depth of 95m.

The company has received all one-metre split assay results, which included:

BRC18036
13 metres at 4.1 grams per tonne gold from 65m, including 2m at 18.52g/t gold from 75m;

BRC18069
15m at 2.75g/t gold from 27m;

BRC18079
9m at 4.38g/t gold from 39m, including 1m at 31.2g/t gold from 39m;

BRC18044
4m at 4.9g/t gold from 52m and 10m at 2.49g/t gold from 74m;

BRC18096
1m at 26.1g/t gold from 68m; and

BRC18071
3m at 7.4g/t gold, including 1m at 19.6g/t gold from 27m and 2m at 4.41g/t gold from 46m.

The company declared the results demonstrate gold mineralisation over a 420-metre strike length and remains open along strike to the north and at depth.

It is now compiling all data to generate a maiden Mineral Resource Estimate with metallurgical test work and initial mining studies to commence in the March Quarter 2019.

Extension drilling at Crake is to continue as a priority in 2019, together with high priority targets including Coote, Darter and Honeyeater.

Intermin said it has now confirmed Binduli alongside Teal, Anthill and Blister Dam as a key project area for resource expansion and testing for new open cut and underground discoveries.

“These latest results continue to demonstrate the potential scale and quality of the Crake prospect in an area that has seen little modern exploration, particularly at depth,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“To have now identified mineralisation over a 420-metre strike length provides us with great confidence in the entire Binduli project area which will be a priority in 2019.

“We now look forward to compiling the first Mineral Resource Estimate at Crake and moving forward with mining studies and metallurgical test work to rapidly advance the project into the mine development pipeline.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Bellevue Gold Maps Out Exploration Plan

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THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) reminded everybody of how well it is travelling at the moment by releasing an update on exploration activities at the company’s Bellevue gold project in Western Australia.

Bellevue Gold is currently undertaking exploration drilling at the project with two diamond core drill rigs operating on double shift and a third rig due to arrive anon.

The company is well-funded following a recent $15 million capital raise, allowing it to aggressively continue resource expansion through step-out drilling in the top 500 metres to build on the current 1,040,000 ounces at 12.3 grams per tonne gold Inferred category resource in early 2019.

Bellevue Gold has outlined its focus of the resource expansion drilling for 2019 aiming its attention at three advanced targets:

Bellevue Lode: nearby extensions to the north and south of the Bellevue underground mine as well as a few unmined areas proximal to existing underground development. There are also several recently identified and untested Down Hole Electro-Magnetic (DHEM) conductors.

Viago Lode: drilling is underway targeting step-out down plunge and down dip as well as multiple (DHEM) conductors.

Northern Bellevue: depth extensions in the top 250 metres north of Bellevue workings targeting shallow dipping mineralisation intercepted in historic shallow broad spaced drilling.

Recent drilling since the Viago maiden resource (550,000 ounces at 22g/t gold Inferred resource) has been focussed on extensions of lodes adjacent to the Bellevue historical development.

Drill core holes are currently being marked up and cut ready for assaying, and visible gold has been noted over multiple intercepts.

The company indicated it would now turn its attention to the Viago discovery, targeting extensions of the high-grade lode.

Results from recent drilling will be made available to the market at the first opportunity.

“We are delighted at how rapidly the team is discovering and adding high-grade gold ounces at the Bellevue gold project,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“With the recent oversubscribed placement to a number of significant global institutions we are well funded to continue step-out extensional drilling with multiple drill rigs ready for an updated resource statement in Q1 2019.”

 

Email: admin@bellevuegold.com.au

Website: www.bellevuegold.com.au

 

Venture Minerals Confirms Thor VMS Targets

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) received results of a recently completed EM (Electromagnetic) survey over the company’s tenement package that encapsulates the Thor VMS prospect in Western Australia.

Venture Minerals reported the EM survey confirmed multiple Priority VMS (Volcanogenic Massive Sulphide) targets across the tenement package.

The company intends commencing drill testing immediately as it continues to focus exploration efforts at Thor, following the recent discovery of massive and semi-massive sulphides in reconnaissance drilling targeting a large historic EM anomaly.

Final processing of the recent detailed EM survey shows that the strongest responses sit outside of the areas drilled by the first two reconnaissance holes targeting the Thor VMS style sequence, consequently the next phase of drilling will test, the highest ranked targets based on the new, high resolution survey results.

“The company is excited about the next phase of work at Thor, which will see a number of highly ranked, massive sulphide targets drill tested over the coming weeks,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The drilling contractor has been engaged and the rigs are scheduled to be mobilised in the coming days.

“The fact that the maiden drill program intersected large zones of sulphides in areas that the final EM data does not rank amongst the strongest responses, significantly elevates the company’s confidence in the next phase of drill testing.”

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au