Musgrave Minerals Hits Thick Gold Intercepts at Lake Austin North

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) released further assay results from reverse circulation (RC) basement holes drilled at A and C Zones at the Lake Austin North prospect.

The Lake Austin North prospect sits three kilometres north of the Break of Day gold deposit on the company’s Cue project in Western Australia’s Murchison district.

Musgrave Minerals has interpreted the latest thick zones of gold mineralisation from RC drilling at A Zone at Lake Austin North to be indicating the discovery of a large mineralised gold system.

Results include:

18MORC049
157 metres at 0.55 grams per tonne gold from 90m down hole, including 24m at 1.6g/t gold from 132m and 31m at 1g/t gold from 216m; and

18MORC048
144m at 0.5g/t gold from 84m down hole, including 18m at 1.3g/t gold from 162m.

One metre re-samples of six-metre composites from 18MORC039 confirmed high-grade mineralisation at A Zone, including:

36m at 3.6g/t gold from 111m down hole, including 20m at 6.1g/t gold from 116m, including 5m at 15.3g/t gold from 125m.

Drilling at C Zone also intersected gold mineralisation including:

18MORC050
66m at 0.85g/t gold from 72m down hole, including 6m at 5.1g/t gold from 96m.

Musgrave Minerals said its interpretation of recent RC results suggests high-grade gold mineralisation within A Zone is steeply dipping to the east and many of the initial holes have not tested the interpreted basement target zone.

RC drilling is currently testing this new interpretation and a diamond drill rig is expected to commence late October.

“The thick, extensive gold intercepts continue to support Musgrave’s view that Lake Austin North is a large, well-mineralised gold system and a new gold discovery for the company,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The Lake Austin North A and C Zone both have high-grade cores and drilling is continuing to piece together the geology to trace the strike and dip of the higher-grade gold lodes.

“The mineralisation is open north, south and down dip.

“A diamond drill rig will be on site in the next few weeks to provide drill core through the mineralisation and deeper drilling capacity which will enhance the geological interpretation.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

 

Middle Island Extends Wirraminna Gold Mineralisation

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) advised of assay results from infill and extension RC (reverse circulation percussion) drilling recently completed at the Wirraminna gold deposit, within the company’s wholly-owned Sandstone gold project in Western Australia.

Middle Island’s Wirraminna deposit is situated one kilometre from the company’s 100 per cent-owned, Sandstone 600,000 tonnes per annum gold processing plant.

“The results of the RC drilling have extended the depth potential of the deposit, but are otherwise broadly consistent with expectations and previous drilling results,” Middle Island Resources said in its ASX announcement.

“However, holes drilled to verify historic, broad, high-grade intervals again proved unsuccessful.”

Highlight RC drill intercepts included:

MSRC274
7 metres at 1.76g/t gold from 68m;

MSRC276
6m at 6.62g/t gold from 84m;

MSRC282
14m at 1.82g/t gold from 82m;

MSRC285
14m at 1.8g/t gold from 42m, including 1m at 18.2g/t gold from 52m; and

MSRC291
5m at 2.51g/t gold from 41m.

An existing Mineral Resource estimate for the Wirraminna deposit sits at 550,000 tonnes at 1.3 grams per tonne gold for 23,000 ounces gold (at a 0.5g/t lower cut-off grade).

Around 55 per cent of this is classified as an Indicated Mineral Resource, whilst the balance is in the Inferred category.

 

Email: info@middleisland.com.au

Website: www.middleisland.com.au

 

Lithium Australia Boss Laments Lack of Government Foresight

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COMMODITY CAPERS: Lithium Australia (ASX: LIT) managing director Adrian Griffin launched a stinging criticism of the lack of government support for the emerging Australian lithium industry.

Griffin has never been one to waste words when getting a point across and he took aim at a government he – and others – see to be missing a great opportunity for the country.

That opportunity being the development – in country – of technologies to produce lithium concentrates to export as the essential additive to the battery industry and make the country richer than it currently is.

Griffin intimated that there is currently plenty of interest in the battery technologies being developed by Lithium Australia from industry players internationally.

Unlike the company’s home country, he said many of these jurisdictions sitting beyond our sea-girt shores are encouraging Lithium Australia to consider opportunities within their own regions, where governments are prioritising the development of such technologies as a key focus of next-generation economic growth.

“Unfortunately, although Lithium Australia is at the forefront of next-gen battery technology and supply sources, it has not received the same encouragement from within Australia, where its governing bodies, while voicing enthusiastic support for mooted downstream lithium processing, are in reality allowing the country to lag behind international competitors – despite the natural advantages Australia enjoys with its rich endowment of lithium and other battery elements,” Griffin said.

“Australia’s federal government in particular has significantly reduced R&D rebates, now capped at $4 million per annum for all but the biotech industry, which will continue to enjoy open-ended rebates for the purposes of conducting clinical trials.

“Is this anomalous, in that pilot testing and product endorsement within the metallurgical industry in many ways mimic clinical trial processes for biotech products?

“Lithium Australia has, for example, initiated similar procedures to secure product endorsement of the advanced cathode powders being produced at its VSPC plant in Brisbane, Australia.

“As it stands then, the federal government’s R&D policy would provide biotech companies with an open-ended rebate for clinical trials of lithium carbonate (an accepted treatment for certain medical conditions but also a precursor to the manufacture of lithium-ion battery cathodes) but not Lithium Australia for trials of the same product for other applications.”

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

Intermin Resources Updates Teal Gold Resources

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released an updated Mineral Resource Estimate for the company’s 100 per cent-owned Teal gold project area located northwest of Kalgoorlie-Boulder in Western Australia.

Intermin Resources completed the upgrade following a drilling program of 182 angled RC holes for 23,545m to downhole depths of between 60 to 270 metres.

The company explained the drilling comprised infill, lateral and depth extensional and new discovery drilling at the Jacques Find, Peyes Farm, Yolande and Teal prospects.

Results were originally released to the ASX between April and August 2018 and included:

JFRC18048
10m at 6.7 grams per tonne gold from 60m;

JFRC18026
8m at 5.70g/t gold from 64m;

JFRC18095
8m at 5.28g/t gold from 64m;

JFRC18042
6m at 6.69g/t gold from 91m;

JFRC18034
3m at 10.28g/t gold from 102m;

JFRC18049
13m at 2.78g/t gold from 90m and 11m at 2.77g/t gold from 73m;

JFRC18038
6m at 4.72g/t gold from 54m and 6m at 4.34g/t gold from 42m;

JFRC18010
37m at 2.16g/t gold from 90m and 9m at 4.45g/t gold from 118m; and

JFRC18129
7m at 4.47 g/t gold from 34m and 12m at 2.33 g/t gold from 105m;

Deeper downhole RC intercepts included:

JFRC18039
8m at 10.31g/t gold from 123m;

JFRC18136
8m at 5.88g/t gold from 124m; and

JFRC18112
5m at 4.49g/t gold from 117m and 7m at 3.46g/t gold from 90m.

Intermin said the updated 2012 JORC Code-compliant Teal project area Mineral Resource shows an 80 per cent increase in ounces compared to the previous Teal Resource.

The company also noted the Mineral Resource for Teal has been depleted to consider the recently completed Teal Stage 1 and 2 open cut developments.

The current Mineral Resource Estimate for Teal now stands at 4.25 million tonnes at 2.11g/t gold for 289,000 ounces at a greater than 1g/t Au lower grade cut-off with various top cuts applied.

“The company commenced the self-funded $4 million, 55,000 metre drilling program in February this year and it has certainly delivered results,” Intermin Resources managing director Jon Price said in the cmpany’s announcement to the Australian Securities Exchange.

“An 80 per cent increase in resources at Teal at a $14 per ounce discovery cost is not only a testament to quality of the assets but also the exploration team who have worked tirelessly on target generation and project priorities.

“With a significant amount of drilling still ongoing at Anthill, Binduli and Blister Dam, the company looks forward to releasing further results and resource updates as we move closer to achieving the significant one million ounce milestone.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Cassini Resources Claims New Near-Mine Discovery at Nebo

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a new discovery at the company’s West Musgrave project (WMP) in Western Australia.

Cassini Resources said the discovery was made while conducting a program of resource extension drilling at the Nebo deposit within the WMP that is being funded as part of the Earn-in/JV Agreement the company has with OZ Minerals (ASX: OZL).

The JV partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits as well as a regional exploration program.

The new high-grade lode position – to be known as that Angie Lode – was discovered by the PFS resource infill drilling, for which several holes had been designed to target potential high-grade extensions of mineralisation on the peripheries of the current Nebo resource.

Cassini has previously reported early success in this program at the H-T Lode at Babel.

The more recent program also targeted positions on the eastern margins of the Nebo deposit with success enjoyed from the first round of drilling.

The most successful of these was been drill hole CZD0084, intersecting:

50.35 metres at 0.62 per cent nickel, 0.54 per cent copper, 0.02 per cent cobalt and 0.15g/t PGE from 170.85m, including a high-grade core of 5.6m at 2.68 per cent nickel, 2.09 per cent copper, 0.09 per cent cobalt and 0.33g/t PGE from 186.95m.

In addition, drill hole CZD0082 returned:

58m at 0.32 per cent nickel, 0.37 per cent copper, 0.01 per cent cobalt and 0.12g/t PGE including 1.9m at 2.69 per cent nickel, 2.44 per cent copper, 0.07 per cent cobalt and 0.48g/t PGE from 202m, together with a broad zone of medium grade disseminated mineralisation.

Nearby holes CZD0080 and CZD0081 returned narrow, but high-grade intercepts of 0.15m at 1.47 per cent nickel, 0.06 per cent copper, 0.06 per cent cobalt and 0.11g/t PGE from 195.3m and 0.75m at 1.40 per cent nickel, 0.50 per cent copper, 0.05 per cent cobalt and 0.23g/t PGE from 263.75m respectively, representing potential strike continuity of at least 550m from CZD0084 through to CZD0081.

Cassini noted that historically there has been a lack of drilling carried out in the south-eastern and eastern margins of Nebo.

Because of this, the south-eastern area was targeted after detailed modelling of Downhole Electromagnetics (DHEM) from the 2017 drill program identified conductive plates that had not been adequately tested by drilling.

“Subsequent DHEM surveys have shown clusters of conductive plates surrounding CZD0082 as well as CZD0080 and CZD0081,” Cassini Resources said in its ASX announcement.

“There is no drilling between these zones and it remains a priority target for further extensional and infill drilling.

“Geological interpretation work on mineralisation controls on the Angie Lode are continuing.”

Cassini explained the high-grade Angie Lode results lie outside the current pit shell design, saying they can be reasonably expected to have a positive impact on future resource estimate and open pit mine optimisation updates.

Follow-up drilling will step 50m either side of CZD0082 testing the extensions of DHEM conductors along strike.

Further drilling is also planned to follow-up CZD084 once DHEM is completed on this hole.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Nusantara Resources Increases Awak Mas Gold Reserves

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THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) announced an upgrade to the Ore Reserve of the company’s 100 per cent-owned Awak Mas gold project in South Sulawesi, Indonesia

Nusantara Resources declared an increase of 1.1 million ounces contained gold for the Awak Mas gold project Probable Reserve at a 0.5 grams per tonne gold cut-off using a US$1250 per ounce gold price.

The new figure has come in at 26.9 million tonnes at 1.32g/t gold for 1.14 million contained ounces.

Nusantara said the Ore Reserve estimate was based on the Mineral Resource estimate reported for the Awak Mas and Salu Bulo deposits in May 2018.

The upgraded Ore Reserve represents an 11 per cent increase in contained gold from the previous Ore Reserve and incorporates all drilling and mine planning completed as part of a Definitive Feasibility Study (DFS).

The company has planning underway for a program of further drilling to lift the resource category to the Measured category in the initial mining areas.

The company believes the closer spaced drilling has the potential for an uplift in grade through the intersection of additional higher-grade vertical zones it says are pervasive through the Awak Mas and Salu Bulo deposits.

The company also indicated that extensions to the proposed Awak Mas, and Salu Bulo pits, and the possible inclusion of the Tarra deposit into the mine plan, represent a near term opportunity to extend the mine life by a further three years.

“The 11 per cent increase in the Ore Reserve will be incorporated in the Awak Mas gold project Definitive Feasibility Study, representing further value improvement in the project,” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“The new Ore Reserve was based on the results of the completed resource drilling program, highlighting the potential upside in the project as exploration continues.

“This Ore Reserve, combined with the exploration potential of the project, underpins the company’s confidence in delivering the proposed long-life, low cost, stand-alone gold project at Awak Mas.

“The DFS is undergoing final data verification and will be released in late September confirming that the project is technically and financially robust.”

 

Email: info@nusantararesources.com

Website: www.nusantararesources.com

 

Metallica Minerals to Merge with Melior Resources

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THE BOURSE WHISPERER: Metallica Minerals (ASX: MLM) announced it has entered into a binding Arrangement Agreement (AA) to merge with TSX_V-listed Melior Resources.

Metallica Minerals said the merger would be via a Plan of Arrangement to be approved by the court in British Columbia, Canada.

The company intimated the merger will create a diversified Queensland mining company with near term production and a strong pipeline of future growth opportunities, boasting a strong portfolio of assets located in Queensland, which has a stable and well-established regulatory regime.

The merging entities believe their complementary mineral sands and bauxite projects, together with project proximity and combined management expertise, provide the opportunity for both sets of shareholders.

The merger is to be implemented by way of a Canadian Plan of Arrangement, whereby Metallica has agreed to acquire all issued capital of Melior by the issue of 20 new Metallica shares for every 1 Melior share held.

Announcing the deal, Metallica said the merged entity will have an enhanced capital markets profile, a strengthened investor base and a strong pipeline of growth assets, positioning it to become a strong new ASX-listed mining company well situated to take advantage of the favourable outlook for mineral sands and bauxite.

“This is a transformational deal for both companies,” Metallica Minerals chairman Peter Turnbull said in the company’s announcement to the Australian Securities Exchange.

“Melior’s Goondicum ilmenite project shares similar attributes to Urquhart Bauxite in that it is fully funded and will be brought into production relatively quickly for a modest capital outlay and will provide a valuable source of near-term cash flow.

“We look forward to combining the respective skills of the two companies to successfully develop those projects and pursue further growth opportunities to build a significant, profitable mining house generating excellent returns for shareholders.”

 

Email: admin@metallicaminerals.com.au

Website: www.metallicaminerals.com.au

 

Saturn Metals Completes Apollo Hill Resource Expansion Drilling

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported further results from infill and extensional resource drilling at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals said the latest drilling had further extended several thick and higher-grade zones of mineralisation towards the surface within the main Apollo Hill resource area.

Highlights of the recent Apollo Hill resource drilling include:

AHRC0061
23m at 1.76 grams per tonne gold from 124m, including 17m at 2.32g/t gold from 130m;

AHRC0041
46m at 1.11g/t gold from 19m, including 10m at 1.85g/t gold from 25m, and 7m at 2.5g/t gold from 58m;

AHRC0064
22m at 1.08g/t gold from 74m, including 12m at 1.72g/t gold from 78m;

AHRC0063
10m at 2.39g/t gold from 61m;

AHRC0056
22m at 1.02g/t gold from 62m; and

AHRC0064
32m at 1g/t gold from 127m, including 20m at 1.46g/t gold from 127m;

Saturn Metals explained these results will be the last to be received from the infill and extensional resource drilling program that was commenced just after the company listed on the ASX in March 2018.

They will be incorporated with all other results from the program and utilised in the Resource recalculation Saturn is currently undertaking and expects to complete later this year.

“The reported intersections have improved the mineral inventory in the heart of the Apollo Hill Resource area,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“These results, when coupled with other impressive extensional results reported during August, further demonstrate the capacity to improve the development potential of this major gold system.

“Having reported all outstanding results, we are now in the process of incorporating them into a new resource estimate, which we expect to release in the December quarter.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Lithium Australia Produces Lithium Chemicals From Sileach Trial Plant

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THE BOURSE WHISPERER: Lithium Australia announced the production of lithium chemicals from the company’s Sileach Pilot Plant.

SiLeach® is Lithium Australia’s proprietary lithium processing technology.

The company has conducted Stage 1 and 2 trials of the process at the ANSTO’s minerals piloting facility in New South Wales shortly after commissioning of the second generation, purpose built pilot plant.

Lithium Australia declared Stage 1 of the SiLeach pilot plant trial achieved 94 per cent lithium extraction on continuous run, after which Stage 2 of the SiLeach pilot plant trial kicked off on schedule and produced lithium phosphate within 16 hours of start-up.

from Stage 1 of the trial, SiLeach succeeded in generating lithium solutions from mine waste to feed Stage 2 of the trial, designed to generate lithium chemicals from those solutions.

The Stage 2 trial began as planned on 10 September 2018.

The SiLeach technology was used to separate and remove calcium and fluorine impurities from the lithium solutions generated during Stage 1.

The impurities were precipitated as solids prior to the subsequent precipitation of high-purity lithium phosphate.

Lithium Australia indicated that the barren liquor from that process will be further vendor tested for the recovery of potassium sulphate.

“The success of the new pilot plant facility at ANSTO augurs well for our scale-up aspirations,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“It’s encouraging to note the relative ease with which we’ve achieved targets to date, particularly in view of the feed material used – in this case, contaminated mine waste from the Kalgoorlie region.

“SiLeach is ideal for recovering lithium from such materials.

“We’re also enthusiastic about other applications for some of these process steps; in particular, the recovery of lithium from brine, which currently involves lengthy solar evaporation and is subject to the vagaries of the weather.”

 

Email: info@lithium-au.com

Website: www.lithium-au.com

 

Cassini Resources Announces Further Drill Success from Yappsu

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) reported further drilling results from the Yappsu prospect within the West Musgrave Project (WMP) in Western Australia.

Cassini Resources described the hit as the, “second significant intersection of nickel and copper mineralisation at the Yappsu prospect.

The current drilling is beibng funded as part of the Earn-in/JV Agreement Cassini has with OZ Minerals (ASX: OZL) where the JV Partners are currently undertaking a Pre-feasibility Study on the Nebo-Babel deposits as well as a regional exploration program.

Cassini reported that assay results for diamond drill hole CZD0079 confirmed a broad zone of nickel and copper sulphide mineralisation, including:

A narrow, disseminated zone of mineralisation returning 5.75 metres at 0.28 per cent nickel, 0.63 per cent copper, 0.01 per cent cobalt, 0.30 grams per tonne PGE and 0.15g/t gold from 545m;

An underlying broad disseminated zone of disseminated mineralisation of 70.25m at 0.48 per cent nickel, 0.44 per cent copper, 0.02 per cent cobalt, 0.34g/t PGE and 0.08g/t gold from 555.05m.

This includes a massive sulphide zone of 0.8m at 4.39 per cent nickel, 0.11 per cent copper, 0.13 per cent cobalt, 1.45g/t PGE and 0.02g/t gold from 555.75m.

Including the barren interval between the two main zones, the diluted intercept is 80.3m at 0.44 per cent nickel, 0.44 per cent copper, 0.02 per cent cobalt, 0.32g/t PGE and 0.09g/t gold, which is the thickest intercept of mineralisation the JV has drilled to date.

“The thickness, grades and continuity of massive sulphide mineralisation, which has been intersected in almost every hole at Yappsu drilled to date, indicates the overall potential for the system to host additional significant accumulations of massive nickel sulphides,” Cassini Resources said in its ASX announcement.

The intercept in CZD0079 complements an earlier result from CZD0076B, confirming the company’s belief that historical drill holes had not intersected the core of the mineralised system.

“Mineralisation has continuity over 250 metres down plunge and remains completely open at depth and untested by current Downhole Electromagnetic (DHEM) or surface Moving Loop Electromagnetic (MLEM) systems,” Cassini said.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au