Saturn Metals Drilling at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the commencement of a new phase of exploratory RC drilling at the company’s wholly owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals has completed earlier drilling at the project, from which it has determined it to be a major gold and alteration system wide open for expansion

Recent drilling results from the northern end of Apollo Hill, include:

AHRC0036
10 metres at 2.98 grams per tonne gold from 92m within 28m at 1.2g/t gold from 82m.

At the southern end of the deposit drilling encountered:

AHRC0049
58m at 1.06g/t gold from 65m, including 36m at 1.39g/t gold from 87m.

Saturn Metals commenced drilling earlier this week with the intent of completing approximately 20 holes for approximately 2,500 metres in its search for additional opportunities to expand the deposit’s footprint.

The planned drilling will step out along a six-kilometre-long anomalous gold corridor and provide an initial test of the area between the Apollo and Ra zones testing multiple interpreted structures and targets.

“This program of drilling is in keeping with Saturn’s objective of growing the Apollo Hill gold system as rapidly as possible,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We have been looking forward to testing these more expansionary targets for some time and we are hopeful the results will demonstrate the greater potential at Apollo Hill.

“Our confidence in the system continues to grow.”

Saturn Metals said it anticipates announcing an update to the Apollo Hill resource in the coming weeks utilising drilling results from a drilling program completed in July that highlighted the potential to increase the scale of the known mineralised system from the current 0.5 million-ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Musgrave Minerals Extends Lake Austin North High-Grade Gold

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further assay results from reverse circulation (RC) basement holes drilled at the Lake Austin North prospect, north of the Break of Day gold deposit within the company’s Cue project in Western Australia’s Murchison district.

Musgrave Minerals drilled hole 18MORC057 100m south of the Lake Austin discovery hole 18MORC039, intersecting the high-grade mineralised A Zone lode approximately 135m vertically below surface.

The company said the southernmost RC drill hole returned its best result to date in the A Zone at Lake Austin North of:

18MORC057

94 metres at 2.4 grams per tonne gold from 156m to end of hole (EOH), including 52m at 4.1g/t gold from 198m to EOH, including 12m at 8.8g/t gold from 204m and 6m at 6.3g/t gold from 240m.

“Drill hole 18MORC057 has returned another thick high-grade result and delivered our best intercept to date at A Zone,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“It is the most southerly hole drilled to date testing the basement on A Zone and the results indicate the system is open to the south as well as to the north and at depth.

“Lake Austin North is proving to be a large, well mineralised system and the current diamond drilling program will aim to further outline the size and grade of this new and exciting gold discovery.”

Musgrave explained the third basement hole drilled into the C Zone (18MORC056), 450m north of previous RC drilling intersected gold mineralisation, including:

12m at 1.3g/t gold from 102m down hole within a broader zone of 30m at 0.6g/t gold from 102m.

However, due to drilling difficulties the hole was terminated early and did not reach planned depth.

Musgrave has commenced diamond drilling at Lake Austin North with first assay results expected in early December.

A regional gravity survey over newly granted tenement applications adjacent to the existing tenure at Cue is progressing with the aim of defining new gold targets for drill testing.

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

 

Federal Labor Makes Battery Play

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COMMODITY CAPERS: Although the next Federal General Election is – at this stage – still months in the offing, it appears we can expect to witness a good deal of strange bed-fellowing going on in the meantime.

This was no more apparent than in the recent joint announcement by Labor Party MPs Kim Carr, shadow minister for Innovation, Industry, Science and Research; Jason Clare, shadow minister for Trade and Investment and for Resources and the Northern Territory; and Madeleine King, shadow minister for Consumer Affairs, Assisting Small Business, and Assisting for Resources.

It seems the shouts of the Association of Mining and Exploration Companies (AMEC) have resonated down the corridors of potential power and have been heard by those responsible for directing the attention of these MPs, resulting in the mining lobby group’s 2018 Report: A lithium industry in Australia: A value chain analysis of downstreaming Australia’s lithium resources. landing on their collective desks.

The report was commissioned by AMEC in January this year and called on the State and Federal Governments to seize the opportunity AMEC believes exists to ensure Australia can realise greater value from its wealth of battery minerals.

Carr, Clare and King declared that should their party be elected it will get behind Australia’s battery metal manufacturing industry.

The sentiment is to be praised, however, the promise came with the usual political reasonings to do such a thing being mainly to create Australian manufacturing jobs and adapting to a clean energy future…blah, blah, blah.

Finally, the triumvirate’s release got into the nitty-gritty of the issue, acknowledging Australia as the world’s biggest supplier of lithium as well as producing every metal needed to make a lithium battery.

“But we still send most of our battery metals overseas without local manufacturing getting much of the action,” they said.

Carr, Clare and King cited AMEC’s study, identifying that the need to develop capacity to store renewable energy, along with the growth in electric cars, and smart devices is estimated in the report to grow the global Lithium value chain from $160 billion in 2018 to $2 trillion by 2025.

“Australia should have a bigger slice of that pie,” the Labor MPs said.

They recognised the ability of Australian manufacturing workers to refine locally-sourced battery metals and make batteries onshore.

“We can be a country that makes more things,” they added, sounding more like our current Prime Minister than they possibly would like.

There are presently companies investing in Australia to refine battery metals and establish battery manufacturing facilities.

Such investments include BHP’s nickel refinery and Tianqi’s Lithium processing plant in Kwinana and the Sonnen battery plant in Adelaide and Energy Renaissance’s battery plant planned for Darwin.

The Western Australia, Queensland and the Northern Territory governments are actively developing their own battery metal manufacturing strategies, actions that have more than likely sparked the federal interest, realising that by being as an advocate, rather than an antagonist, of the mining industry, advancements benefitting all can be achieved.

This point was not lost on AMEC chief executive officer Warren Pearce.

“AMEC has been advocating to all Australian governments to take a leadership role to ensure Australia does not miss out on this opportunity,” Pearce said in AMEC’s response to the announcement.

“This is a modern nation building opportunity, a chance to secure a significant position in a new emerging industry for Australia in what will quickly become one of the largest industries in the world.

“This new industry will create thousands of skilled jobs for Australians.

“Both the Resource 2030 Taskforce Report, and the Chief Economist’s September 2018 Resources Quarterly Report clearly articulate the opportunity that exists for Australia.

“AMEC will continue to engage with both the Federal Government and Federal Opposition to ensure bipartisan support for these nation building initiatives.”

 

Website: www.amec.org.au

 

Azure Minerals Encounters High-Grades in Oposura Central Zone

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) intersected high-grade zinc, lead and silver mineralisation while drilling the Central Zone at the company’s 100 per cent-owned Oposura project, located in Sonora, Mexico.

Azure Minerals said it had encountered several mineralised intersections situated in the middle of the Central Zone, located more than 200 metres from the Oposura East Zone and West Zone resource boundaries.

The company considers the intersections to have confirmed potential to expand the current Oposura Mineral Resource into this previously under-explored area.

The recent drilling encountered high-grade, near-surface mineralisation in the middle of the Central Zone, including:

OPDH-173
12 metres at 7.7 per cent zinc plus lead (Zn+Pb) from 44m, including 4.1m at 12.5 per cent Zn+Pb; and

OPDH-178
9.5m at 18.9 per cent Zn+Pb from 23.05m, including 6.2m at 26.6 per cent Zn+Pb.

The drilling has also extended high-grade mineralisation from the East Zone into the Central Zone, retruning:

OPDH-159
4.8m at 19.3 per cent Zn+Pb and 122 grams per tonne silver from 107.05m;

OPDH-171
4.4m at 20.4 per cent Zn+Pb and 294g/t silver from 99.05m; and

OPDH-177
4.6m at 36.9 per cent Zn+Pb and 138g/t silver from 107.55m.

“These latest, high-grade, massive sulphide drill intersections from the sparsely drilled Central Zone confirm that this area has the potential to significantly increase Oposura’s resource base,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“They continue to build on the very positive results from the Oposura Scoping Study and confirm potential to extend the mine life and further improve the already impressive project economics.”

Azure completed additional drilling outside of the East Zone resource boundary which intersected wide zones (average true width of >4.0m) of massive sulphides containing high-grade zinc and lead mineralisation and very high silver grades, mostly >100g/t silver.

The company said these drill intercepts extended the mineralised system by more than 100m towards the west, into the Central Zone.

Acknowledging the positive results it achieved in the recent Scoping Study that identified that similar grade, near-surface mineralisation will be exploited by low-cost open pit and underground mining techniques, Azure declared these new Central Zone drill intersections are expected to increase the Mineral Resource, extend the current mine life of 5.3 years and have a very positive impact on the overall Project economics.

 

Website: www.azureminerals.com.au

 

Cassini Resources – OZ Minerals JV Hits Best Nebo Intersection

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) provided an update of Resource Infill Drilling activity at the company’s West Musgrave copper-nickel project Joint Venture with OZ Minerals (ASX: OZL) in Western Australia.

Cassini Resources and OZ Minerals are conducting the drilling as part of the West Musgrave Pre-Feasibility Study (PFS) where OZ Minerals has recently progressed through the Stage 1 Earn-in requirement of contributing $22 million to acquire a 51 per cent interest in the project.

The current activities involve three reverse circulation (RC) drill rigs that are approximately 75 per cent through a 40,000 metre program, the aim of which is to improve resource confidence and allow a maiden Reserve estimate to be published with the PFS results.

Results from drilling at Nebo have returned the best nickel intersection encountered to date at the project of:

CZC0285
58 metres at 1.3 per cent nickel, 0.61 per cent copper, 0.05 pwer cent cobalt and 0.23 grams per tonne PGE from 67m, including 23m at 2.91 per cent, 1.13 per cent copper, 0.09 per cent cobalt and 0.47g/t PGE from 88m.

Cassini declared the resource extension drilling program had been successful in targeting high-grade extensions of mineralisation on the peripheries of the current resources which may have a material impact on the development strategy.

The company reported early success in July this year from this program at the H-T Lode within the Babel deposit recording an intercept of:

CZD0077
25.6m at 0.63 per cent nickel, 1.04 per cent copper, 0.03 per cent cobalt and 0.23g/t PGE from 317.3m.

“The results to date demonstrate the robustness of the resource and the potential for further discovery,” Cassini Resources said in its ASX announcement.

“An updated Mineral Resource estimate for Nebo and Babel is due in Q1 2019.

“Following completion of the current infill drilling program, estimated to be by the end of October, a further 23,000 metres will be brought forward from the planned Stage 2 Feasibility Study (FS) program and commenced immediately.

“This will reduce the risk of FS schedule slippage while also maximising operational and logistical efficiencies through the remainder of the 2018 field season.”

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Impact Minerals Confident of Blackridge Gold Potential

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THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) completed a review of previous gold production data at the company’s Blackridge conglomerate-hosted gold project located about 30 kilometres north of Clermont in central Queensland.

Impact Minerals used previous data that had been recorded by the Geological Survey of Queensland from 82 small mine shafts, which the company said demonstrated that high-grade gold had been mined over an area of at least one square kilometre from surface to depths of up to 80 metres.

The distribution of the old shafts and mapping by the Geological Survey indicates that the high-grade zones occur in linear fault-controlled zones that were referred to by the original miners as ‘runs’.

Impact has received bulk sample results for gold it says has identified potential for further high-grade runs that have not been mined both closer to surface and deeper, further to the west beyond the limited mining depths achieved by the early miners.

The company has interpreted other gold results from bulk samples taken by previous workers, and by Impact, to indicate the potential for large volumes of lower grade gold between these high-grade runs as well as higher up in the sequence.

The company considers, together, all of this data demonstrates the large-scale potential of the gold bearing units at Blackridge, and further bulk samples are planned for this Quarter.

These samples will be mostly taken on granted Mining Lease 2385 which was recently purchased by Impact Minerals and has now been approved by the Minister for Mines in Queensland.

“All of this work indicates the potential for a large mineralised system at Blackridge,” Impact Minerals said in its ASX announcement.

“Further bulk samples are now required on a more systematic basis to determine the gold grade distribution close to surface.

“A program of work for this is being compiled and will be completed as soon as practicable.

“In addition, shallow drill holes are also required to help determine the effectiveness of drilling as a sampling medium.

“Work by companies such as Novo Resources Corporation in the emerging conglomerate-hosted gold province of the Pilbara region of Western Australia, has shown that very large samples may need to be processed in order to overcome the significant ‘nugget effect’ that is a major factor in the exploration for this style of deposit.

“Impact has shown that the nugget effect was an important factor affecting the results of previous exploration drilling at Blackridge.

“Accordingly, drilling may not be highly effective at Blackridge.

“However, the purchase of Mining Lease ML2386 has provided a strategic advantage by allowing very large samples to be taken where appropriate.”

 

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

 

Rox Resources Encounters High-Grades at Collurabbie

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) released high-grade assay results from a recently completed diamond drilling campaign at the company’s Collurabbie nickel project, located 230km north of Laverton in Western Australia.

Rox Resources explained the overall aim of the diamond drilling program was to obtain samples of mineralisation from the Olympia deposit for metallurgical test work, and to test RC and aircore anomalies at the Olympia North prospect.

Results received from Olympia included hole CXDD004:

1.8 metres at 1.27 per cent nickel, 2.81 per cent copper, 0.09 per cent cobalt, 5.97 grams per tonne platinum and palladium (Pt+Pd) from 90.4m; and

6.05m at 1.31 per cent nickel, 1.06 per cent copper, 0.12 per cent cobalt, 2.25g/t Pt+Pd from 97.95m, including 1.9m at 2.25 per cent nickel, 2.02 per cent copper, 0.07 per cent cobalt, 3.21g/t Pt+Pd from 97.95m.

Another 2.1m interval of massive sulphides was also intersected in hole CXDD001 at Olympia from 203.2m depth.

Rox indicated the whole sample will be used for a metallurgical test, so the assay from this interval will be determined during that test work.

“These results from Olympia add to our understanding of the mineralogy and type of sulphide material present,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“With nickel, copper, cobalt and platinum group elements (Pt and Pd) all being present it is important to know the metallurgical recovery characteristics of these valuable metals.”

A further two diamond holes were drilled at the Olympia North prospect, co-funded by the Western Australian Government.

Rox noted that the target ultramafic unit seems to have thinned at depth below the aircore and RC drilling anomalies.

In hole CXDD002 immediately above the mineralised ultramafic unit, a thick porphyry unit was intersected and may be associated with potential remobilisation of nickel-copper sulphides.

Downhole electromagnetic surveys are expected to commence shortly.

Best results were:

CXDD002
0.2 metres at 0.48 per cent nickel, 0.25 per cent copper, 0.02 per cent cobalt, 0.53g/t Pt+Pd from 167.3m; and

CXDD003
0.2m at 0.91 per cent nickel, 0.81 per cent copper, 0.03 per cent cobalt, 0.62g/t Pt+Pd from 202.9m.

Current JORC 2012 Mineral Resources at Collurabbie total 573,000 tonnes at 1.6 per cent nickel, 1.2 per cent copper, 0.082 per cent cobalt and 2.3g/t Pt+Pd, for contained tonnes of 9,170 nickel, 6,880 tonnes of copper, 470 tonnes of cobalt, 42,400 ounces Pt+Pd.

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Alt Resources Produces Second Bottle Creek Resource Upgrade

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THE DRILL SERGEANT: Alt Resources (ASX: ARS) is pleased to provide an update to the Bottle Creek Mineral Resource estimate for the Emu and Southwark deposits at the company’s Bottle Creek gold project in Western Australia.

Alt Resources carried out a second round of RC drilling testing extensions to the north and south of the Emu deposit, as well as laterite-hosted mineralisation at Southwark, which has provided an additional 50,000 ounces of gold and 246,000 ounces of silver.

This brings the total for the Bottle Creek gold project to 2.6 million tonnes at 1.9 grams per tonne gold, for 160,000 ounces of gold, including 2.5 million tonnes at 10.7g/t silver for 900,000 ounces of silver.

Alt Resources had previously published the Maiden JORC Resource estimate for Bottle Creek in August 2018.

The company explained the current upgrade constitutes an expansion of its initial Bottle Creek Resource, expanding the overall inventory for the larger Mt Ida gold project, which the company said was now rapidly evolving into a promising gold hub, with multiple exploration and mining targets throughout the landholding.

In combination with existing mineral resources within the Mt Ida gold project, at the Quinns and Mt Ida South projects, Alt’s combined mineral resource Inventory now stands at 3.9 million tonnes at 2.07g/t gold, for 257,000 ounces of gold.

“We have produced this small resource upgrade at Bottle Creek with the intent to demonstrate the cost-effectiveness of resource drilling at Bottle Creek,” Alt Resources CEO James Anderson said in the company’s announcement to the Australian Securities Exchange.

“This resource upgrade has been produced from an additional 29 drill holes at a cost under $5.00 per resource ounce, and with a greatly reduced overall average cost per resource ounce down to $7.80. Bottle creek is returning around 10,000 ounces gold and 56,000 ounces silver per 100 metres of strike drilled and we have only drilled 1,600 metres of the 11 kilometres of strike to date.

“We now have a project wide global resource of 257,000 ounces gold and 900,000 ounces silver at Mt Ida and what I see as a clear pathway to reaching a critical mass through continued drilling.

“We aim to continue to build the resource over the next 12 months to a level that will warrant development of a plant at Bottle Creek.”

 

Website: www.altresources.com.au

 

Sheffield Resources Claims New Minerals Sands Discoveries

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced drilling results from regional exploration drilling at the Cold Duck, Porphyry Pearl, Cisco and Nomad prospects at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Sheffield Resources explained the Cold Duck, Porphyry Pearl and Cisco prospects to be new discoveries located within 15 kilometres of the company’s world class Thunderbird deposit and near current project infrastructure.

A further prospect, Nomad, which was first drilled in 2015, is located within 5km of the proposed haul road and just 700 metres north of the Great Northern Highway.

These results follow results Sheffield recently released results from the Night Train deposit and relate to 94 aircore drill holes completed in September 2018.

The drilling is part of an extensive regional exploration program that has Sheffield targeting additional large, zircon rich deposits suitable for downstream processing at the Thunderbird project dry mineral separation plant.

Results include:

Cold Duck

DAAC131
37.5 metres at 3.56 per cent heavy minerals (HM) from 1.5m, including 16.5m at 5.49 per cent HM from 21m;

Porphyry Pearl

DAAC141
19.5m at 2.93 per cent HM from 19.5m, including 6m at 5.8 per cent HM from 21m;

Cisco

DAAC149
34.5m at 2.64 per cent HM from 58.5m, including 12m at 3.74 per cent HM from 81m; and

Nomad

DAAC119
7.5m at 5.78 per cent HM from 19.5m, including 6m at 6.94 per cent HM from 19.5m.

Sheffield Resources has now identified eight zones of mineralisation, including Thunderbird and Night Train, along a 100km long highly mineralised trend situated north of the highway and extending from Seagull in the north to Nomad in the south.

The company anticipates receiving remaining drill results from a regional exploration program at Concorde and Buckfast, located south of the highway in the coming weeks.

“The new discoveries along with the zircon-rich Night Train deposit, all located in close proximity to the company’s world class Thunderbird deposit clearly demonstrate the global significance and strategic value of Sheffield’s Dampier Mineral Sands Project,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“These discoveries add to an already exciting time for shareholders as we move forward with the development of Thunderbird, continue to progress our Night Train discovery and unlock the exploration upside of the Canning Basin mineral sands province.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Blackstone Minerals Identifies Copper Cobalt Targets

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has identified copper-gold-cobalt targets centred on the Jewel prospect located 1.1 kilometres north-northeast of the Little Gem prospect at the company’s BC cobalt project in British Columbia, Canada.

Blackstone Minerals identified the new soil anomalies over more than 1.5 kilometres adding they coincide with recently announced IP survey results, which indicate a large sulfide bearing body associated with the Jewel copper-gold-cobalt prospect.

The company took surface rock chip samples from the Jewel prospect that also delivered high-grade assay results including 5.6 per cent copper and 5.1 per cent copper.

Blackstone explained the Jewel prospect has never been drill tested and with the multiple large-scale IP targets coinciding with the new copper-gold-cobalt soil anomalies it has declared the Jewel prospect is its highest priority target to be drill tested at the earliest opportunity.

Blackstone has now completed the first ever cobalt focussed exploration field season in the Bridge River Mining Camp and the initial results indicate the BC Cobalt Belt is rapidly emerging into a potential world class cobalt district.

“Our soil sampling program has identified a major copper-gold-cobalt target at Jewel which coincides with the large IP anomaly we believe to be a substantial sulfide bearing body at depth,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We are eagerly anticipating the drilling of these new targets so as to better understand the primary source of the high-grade copper-gold-cobalt mineralisation at Jewel, Little Gem and Erebor.

“We look forward to further results from our 2018 fieldwork program as we continue to unlock what is shaping up to be a potential world class cobalt district located in a tier one mining jurisdiction in British Columbia, Canada.”

 

Email: admin@blackstoneminerals.com.au

Website: www.blackstoneminerals.com.au