Alloy Resources Drills High-Grade RC Gold Results

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THE DRILL SERGEANT: Alloy Resources (ASX: AYR) has recently completed exploration drilling activities at the Horse Well gold project Joint Venture.

Alloy Resources Horse Well JV (Alloy 51%: Doray Minerals Limited 49%) is located in the north-east goldfields of Western Australia adjacent to Northern Star’s Limited’s Jundee Gold Mine.

Alloy is currently sole funding exploration to earn up to 60 per cent in the Joint Venture.

A program totalling fourteen holes for 1,877 metres were completed at Warmblood, Filly SW and Dusk til Dawn prospects with the aim to test concepts for extensions and orientations of higher grade zones within known mineralised areas.

The RC drilling conducted at Warmblood confirmed high-grade shoot development at depth, returning:

AHWR 068
14 metres at 8.38 grams per tonne gold from 57 metres downhole (mdh), including 4m at 20.08g/t gold from 67 mdh and 3m at 10.05g/t gold from 89 mdh; and

AHWR 069
15m at 5.34g/t gold from 83 mdh, including 7m at 10.25g/t gold from 85 mdh.

The drilling also confirmed a northern extension to the high-grade Filly SW zone, including:

1m at 18.15g/t gold from 61 mdh.

The one-kilometre long Warmblood–Filly SW mineralised zone is open to the north and south and at depth.

At Filly SW there is a defined Inferred Mineral Resource of 85,000 tonnes at 8.24g/t gold.

Mineralisation was not closed off to the north where historic air-core drilling had intersected 4m at 43.6g/t gold and not been followed up.

Five RC holes, ACDR011-015, were drilled for 1,183m and 776 samples at the Dusk til Dawn prospect in the northern part of the Horse Well JV project.

Alloy Resources explained the results did not confirmed the concept of the target being a potential high-grade mineralised structure and further review is required to define the controls on higher grade gold mineralisation.

“The results at Warmblood and Filly SW confirm that the Horse Well JV area has potential for high grade gold mineralisation, and that this can occur over extensive strike lengths,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“Our interpretation suggests the mineralisation style can be narrow and in ‘poddy’ very high-grade shoots related to the Celia Shear system and needs tight targeted drilling.

“Within the project The Celia Shear has numerous prospects from soil anomalies to drill anomalies that demonstrates the significant exploration potential over a 60-kilometre strike length.”

 

Email: info@alloyres.com

Website: www.alloyres.com

 

Investment Showcase Warmly Welcomes Resources Companies

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CONFERENCE CALLER: Delegates at the Gold Coast Investment Showcase provided organisers with a reason to smile with presenting companies enjoying immediate share price gains.

Day one resources industry presenters were greeted extremely well.

Pioneer Resources (ASX: PIO) jumped after managing director David Crook informed those present of the company’s offtake agreement with Cabot Specialty Fluids Ltd, a wholly owned subsidiary of New York-listed Cabot Corporation.

Pioneer Resources struck the deal, which will result in Cabot (NYSE: CBT) buying 100 per cent of the caesium ore to be extracted from the Sinclair Zone caesium deposit – to be known as the Sinclair mine.

The Offtake Agreement includes a US$4.8 million loan facility to fund mining operations at the proposed Sinclair mine, which is part of Pioneer’s 100 per cent-owned Pioneer Dome project near Norseman in Western Australia.

The Sinclair mine will be Australia’s first ever commercial caesium ore producer.

Matsa Resources (ASX: MAT) joined the fun after managing director Paul Poli announced signing a Memorandum of Understanding (MoU) with AngloGold Ashanti Australia.

Poli lauded the benefits of the deal to the company’s gold mining and exploration activities throughout its Lake Carey gold project which includes the Fortitude, Red Dog and Red October gold mines in Western Australia.

Alto Metals (AXS: AME) MD Dermot Ryan informed of completed soil sampling that the company claims located three linear gold-in-soil anomalies along an interpreted ‘splay’ off the Edale Fault near Sandstone in Western Australia.

Ryan described the Edale Fault as a major deep crustal feature forming the eastern boundary of the Sandstone Greenstone belt, and a potential conduit for emplacement of gold-rich fluids.

The company has received assays from 28 samples out of a total of 340 samples collected near the Edale Fault that have returned anomalous results plus-7ppb gold in three discrete linear zones, each between 1,000 metres to 1,500m long.

Calidus Resources (ASX: CAI) managing director Dave Reeves announced confirmation of further high-grade results from the Coronation prospect and depth extensions below the Klondyke Resource at the company’s Warrawoona gold project, located 25kms south of Marble Bar in the East Pilbara of Western Australia.

Calidus Resources completed initial reconnaissance drilling at Coronation that has defined high-grade strike of 250 metres adjacent to the previously high-grade drilling results.

Impact Minerals (ASX: IPT) managing director Dr Mike Jones garnered some interest following his company announcing prior to the conference of intentions for work to be ramped up over the next six months at four of the company’s 100 per cent-owned gold and base metal projects across Australia.

Impact Minerals has drill programs planned for the Commonwealth gold-silver-base metal project in New South Wales, the Clermont gold project in Queensland and the Mulga Tank gold and nickel project in Western Australia.

The work will also entail the first bulk samples taken at the Blackridge conglomerate gold project in Queensland, in which Impact recently acquired an option to earn 95 per cent.

On day two, Meteoric Resources (ASX: MEI) managing director Dr Andrew Tunks provided plenty to think about in the cobalt space.

Meteoric announced completion of a closely spaced, ground based geophysics program of induced polarisation (IP), resistivity and magnetics at the company’s 100 per cent-owned Mulligan cobalt project in Canada.

Meteoric Resources had the ground based gradient IP / resistivity and magnetic survey conducted to investigate the location and extent of cobalt rich polymetallic veins that were previous mined at Mulligan.

These surveys outlined numerous target regions where very little historic work has been reported and where no modern exploration techniques had previously been applied.

Meteoric Resources Defines Cobalt Targets

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) completed a closely spaced, ground based geophysics program of induced polarisation (IP), resistivity and magnetics at the company’s 100 per cent-owned Mulligan cobalt project in Canada.

Meteoric Resources had the ground based gradient IP / resistivity and magnetic survey conducted to investigate the location and extent of cobalt rich polymetallic veins that were previous mined at Mulligan.

These surveys outlined numerous target regions where very little historic work has been reported and where no modern exploration techniques had previously been applied.

“The initial ground‐based geophysics results achieved at Mulligan have certainly exceeded our expectations,” Meteoric Resources managing director Dr Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“The survey has defined numerous highly prospective targets for our first drilling program focussing on the cobalt rich polymetallic veining.

“We are continuing to quickly work through the target generation phase of exploration at all of our prospective cobalt assets in Ontario and we are very much looking forward to getting drill rigs on‐site to test these outstanding targets.

“Drilling is on track to commence at Mulligan in July 2018.”

 

Website: www.meteoric.com.au

 

Blackham Resources Extends Wiluna High-Grade Mineralisation

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) released results from a recent free milling drill program undertaken at the company’s Wiluna-Matilda gold operation in Western Australia.

Blackham Resources said the drilling had extended shallow oxide and transitional mineralisation close to the Wiluna CIL plant.

Results include broad zones of shallow high-grade mineralisation intersected surrounding the modelled East-West pit cutback, in Blackham’s newly discovered cross structure zones that were not mined by previous operators.

Better intercepts include:

WURC0622
20 metres at 4.84 grams per tonne gold from 5m, including 9m at 8.76g/t gold;

WURC0623
19m at 3.52g/t gold from 3m incl. 1m at 5.27g/t gold and 3m at 5.62g/t gold and 2m at 10.63g/t gold;

WURC0619
22m at 2.97g/t gold from 11m, including 7m at 5.90g/t gold;

WURC0627
14m at 4.23g/t gold from 16m, including 7m at 7.66g/t gold;

WURC0617
22m at 2.38g/t gold from 3m, including 1m at 7.10g/t gold and 1m at 7.76g/t gold and 1m at 6.48g/t gold;

WURC0630
13m at 3.58g/t gold from 48m, including 3m at 5.30g/t gold;

WURC0624
15m at 2.70g/t gold from 32m, including 1m at 5.89g/t gold and 1m at 6.95g/t gold; and

WURC0625
19m at 2.00g/t gold from 40m;

Infill drilling at the Happy Jack pit has delivered further high-grade oxide and transitional intersections and enhanced confidence in the resource model interpretation.

The potential for increased sulphide resources was also highlighted by several holes that extended into the deeper fresh rock.

Better results include:

WURC0598
19m at 6.36g/t gold from 35m;

WURC0585
7m at 7.62g/t gold from 35m and 9m at 1.99g/t gold from 111m;

WURC0603
8m at 4.65g/t gold from 112m and 10m at 7.93g/t gold from 136m;

WURC0589
12m at 2.29g/t gold from 122m, 3m at 4.97g/t gold from 138m and 9m at 6.83g/t gold from 147m; and

WURC0602
8m at 2.30g/t gold from 2m, 23m at 1.59g/t gold from 18m and 20m at 8.70g/t gold from 72m.

Drilling was also completed around the Adelaide, Moonlight, Essex and Bulletin pits with moderate tenor results received.

Cutbacks on these pits also appear viable and are being assessed for future mining.

Best results were:

WURC0600
6m at 3.81g/t gold from 103m, including and 13m at 1.95g/t gold from 127m; and

WURC0605
11m at 2.23g/t gold from 19m.

“Further drilling is planned to close out open-pit mineralisation ahead of finalising mine designs for the free milling starter pits,” Blackham Resources said in its ASX announcement.

“Blackham’s next resources and reserves update will incorporate these results and is expected to be completed in the September ’18 quarter.

“Blackham management are currently fast-tracking pit designs and approvals to mine the high-grade East West Cross Structures and Golden Age North pits in the December’18 quarter.”

 

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

 

Sheffield Resources Signs Thunderbird Ilmenite Take-Off Deal

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THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) announced a maiden binding ilmenite offtake agreement for the future sale of low temperature roast (LTR) ilmenite from the company’s Thunderbird Mineral Sands project in Western Australia.

Sheffield Resources has signed the deal with Bengbu Zhongheng New Materials S&T Co., Ltd.

The agreement is based on a five-year minimum annual supply of 150,000 tonnes of LTR ilmenite.

This represents approximately 50per cent of the estimated total volume of LTR ilmenite to be produced from Stage 1 of Thunderbird.

“We welcome and value the important relationship that we have established with Bengbu and look forward to further growth opportunities in the future,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“This binding offtake agreement further demonstrates the quality of products that Sheffield will export from Thunderbird.

“Through this relationship, we are able to target Thunderbird LTR ilmenite as feedstock for the high growth chloride slag market.

“With this agreement now in place, more than 75 per cent of Stage 1 forecast revenue is contracted under binding offtake agreement, covering 100 per cent of our Stage 1 zircon products and 50 per cent of Stage 1 LTR ilmenite.

“Demand for our products remains very strong and we look forward to providing the community and our shareholders with further offtake and project updates in the future.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

 

Pioneer Resources Strikes 100 per cent offtake deal for Sinclair Caesium Mine

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THE BOURSE WHISPERER: Pioneer Resources (ASX: PIO) has entered into an offtake agreement with Cabot Specialty Fluids Ltd, a wholly owned subsidiary of New York-listed Cabot Corporation.

Pioneer Resources struck the deal, which will result in Cabot (NYSE: CBT) buying 100 per cent of the caesium ore to be extracted from the Sinclair Zone caesium deposit – to be known as the Sinclair mine.

The Offtake Agreement includes a US$4.8 million loan facility to fund mining operations at the proposed Sinclair mine, which is part of Pioneer’s 100 per cent-owned Pioneer Dome project near Norseman in Western Australia.

The Sinclair mine will be Australia’s first ever commercial caesium ore producer.

The US$4.8 million interest-free loan facility will fully fund mining operations at the proposed Sinclair mine to extract the project’s caesium ore in the form of the mineral pollucite.

The loan is to be offset by Pioneer through the delivery of direct shipping ore (DSO) pollucite from the Sinclair mine via the Offtake Agreement with Cabot, or by cash settlement.

The offtake agreement provides for the sale and purchase of all of the pollucite mined from proposed Sinclair mine, which will be supplied as DSO product.

“The Offtake Agreement is a significant milestone for Pioneer and for the Sinclair mine,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“We are delighted to have secured an off-taker with the credibility and reputation that Cabot Corporation holds.

“Within two years, the company has discovered and defined Australia’s first caesium deposit, been granted a Mining Lease, completed a robust mining study for the proposed Sinclair mine, and are advancing the statutory mining approval process.

“We now add to that the execution of the Offtake Agreement – a key element of which is the US$4.8 million loan facility which provides sufficient funds to extract the caesium (pollucite) ore from the Sinclair mine, with delivery as a DSO product to a global caesium specialist.”

 

Email: pioneer@PIOresources.com.au

Website: www.PIOresources.com.au

 

Matsa Resources and AngloGold Ashanti Sign MoU

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THE BOURSE WHISPERER: Matsa Resources (ASX: MAT) has struck a Memorandum of Understanding (MoU) with AngloGold Ashanti Australia (AGAA).

Matsa Resources said the deal would be of great benefit to the company’s gold mining and exploration activities throughout its Lake Carey gold project which includes the Fortitude, Red Dog and Red October gold mines in Western Australia.

Key aspects of the MoU include:

AGAA to receive first option, and endeavour to treat all gold ore produced by Matsa within the MoU area subject to ore complying with technical requirements;

Both parties to enter a separate technical data sharing agreement under which exploration and other technical information is to be shared and discussed, subject to confidentiality provisions;

Sharing of infrastructure including airport, roads, medical and other facilities where mutually beneficial; and

A model access agreement to be used in all instances of overlapping tenements, especially miscellaneous licences for haul roads etc. which will streamline the grant process within the MoU area.

Matsa explained the non-binding MoU is the outcome of a working relationship established between Matsa and AGAA over the last two years, which included the Fortitude trial mine that ultimately underpinned the economic viability of that recently completed operation.

The MoU covers a large area including Matsa’s Lake Carey and Red October gold projects and AGAA’s Lake Carey and Sunrise Dam operations in the Lake Carey district.

“This agreement represents a massive increase in potential and boost in credibility to Matsa’s Fortitude, Red October and Red Dog mines within the stated area of interest,” Matsa Resources executive chairman Paul Poli said in the company’s announcement to the Australian Securities Exchange.

“Matsa and AngloGold have developed a strong working relationship with each other and this MoU strengthens that relationship to help identify and develop new gold deposits to both party’s benefit.

“Both companies are winners with this cooperation as it allows Matsa access to facilities and knowledge that has been developed by AngloGold over many years.

“This access will strengthen and increase the ability of Matsa to grow its gold ore resources which in turn may assist AGAA to gain additional ore feed for the Sunrise Dam treatment plant.

“It’s a ‘win-win’ for both companies.”

 

Email: reception@matsa.com.au

Website: www.matsa.com.au

 

Alto Metals Defines Sandstone In-Soil Gold Anomalies

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THE DRILL SERGEANT: Alto Metals (ASX: AME) completed soil sampling it claims to have located three linear gold-in-soil anomalies along an interpreted ‘splay’ off the Edale Fault near Sandstone in Western Australia.

Alto Metals described the Edale Fault as a major deep crustal feature forming the eastern boundary of the Sandstone Greenstone belt, and a potential conduit for emplacement of gold-rich fluids.

The company has received assays from 28 samples out of a total of 340 samples collected in the vicinity of the Edale Fault that have returned anomalous results plus-7ppb gold in three discrete linear zones, each between 1,000 metres to 1,500m long.

“Throughout the Yilgarn Craton, the bounding faults to the Archaean greenstone belts and their environs play host to major orogenic gold deposits,” Alto Metals managing director Dermot Ryan said in the company’s announcement to the Australian Securities Exchange.

“We are very encouraged by these coherent, linear gold in soil anomalies, which we intend to drill test as soon as our Program of Work is approved by the Department of Mines, Industry Regulation and Safety.”

 

Email: admin@altometals.com.au

Website: www.altometals.com.au

 

Calidus Resources Confirms Coronation High-Grades

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced confirmation of further high-grade results from the Coronation prospect and depth extensions below the Klondyke Resource at the company’s Warrawoona gold project, located 25kms south of Marble Bar in the East Pilbara of Western Australia.

Calidus Resources completed initial reconnaissance drilling at Coronation that has defined high-grade strike of 250 metres adjacent to the previously high-grade drilling results.

Latest drilling intercepts include:

18CRRC007
10 metres at 3.84 grams per tonne gold, including 1m at 30.4g/t gold from 27m; and

18CRR008
8m at 2.22g/t gold from 71m.

Calidus also recorded rock chips up to 114.7g/t gold from surface at Coronation.

The company is now planning a Resource drill out program at Coronation for this year to add shallow high-grade ounces.

Recent deep diamond drilling has extended gold mineralisation at Klondyke 150m down dip of previous drilling to 370m depth with an intercept of:

18KLDD010
2m at 6.01g/t gold, including 1m at 9.39g/t gold from 421m.

The company said its Klondyke RC resource drill out was progressing well with first results due within four weeks.

“Reconnaissance drilling at the satellite Coronation prospect has highlighted a 250 metre long high-grade zone that will be in-fill drilled in the coming year to provide a maiden resource for Coronation adding to the 712,000 ounce inventory that already exists at Warrawoona,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“In addition, the intersection of high grade gold at Klondyke 150 metres below previous drilling is very exciting.

“Proving that the structure extends at depth, even on the far edges of our resource, gives us confidence that there is large blue-sky potential across Klondyke at depth.

“For now, however, we will concentrate on the shallow open pit resource potential of Klondyke for the remainder of this year and re-visit the extension of mineralisation at depth once we have gained further knowledge on the deposit.

“I am pleased to report that this resource extension drilling is progressing well and I look forward to announcing these results on a rolling basis over the coming five months.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Alloy Resources Strike Farm-In JV with Rio Tinto

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THE BOURSE WHISPERER: Alloy Resources (ASX: AYR) has struck a Farm-In and Joint Venture Agreement with Rio Tinto subsidiary, Rio Tinto Exploration Pty Limited (RTX).

Alloy Resources and RTX will join forces to explore Exploration Licence EL 45/4807, located in the Paterson region of Western Australia.

The key terms of the Binding Term Sheet include:

Upon Execution RTX is to reimburse Alloy’s previous costs of $40,000.

RTX has the right to earn a 70 per cent joint venture interest in the Tenement by completing the following within 3 years:

Expenditure of at least $500,000; and
At least 500 metres of drilling on the Tenement.

RTX must spend a minimum of $133,000 within 12 months before it can withdraw and is obligated to keep the Tenement in good standing prior to any withdrawal.

In the event RTX earns a 70 per cent interest, Alloy will have a First Election to:

Commence contributing in accordance with its 30per cent participating interest;
Convert its interest to a 1.25 per cent NSR Royalty capped at $15 million plus a right to receive a $1.5 million prepayment of the Royalty upon a decision to mine; or
Not commence contributing to the joint venture and for RTX to continue to sole fund expenditure to earn a further 15 per cent interest.

“We are pleased to have RTX’s interest in exploring our large exploration area north-west of Telfer,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“They have been actively exploring in the region since 2015 and we are hopeful that this intellectual knowledge can accelerate definition of the potential for gold-copper mineralisation within our Tenement.

“The area has some historic first pass copper and gold drill results of interest, however this was from back in the 1990s and we will now benefit from modern exploration techniques and geological models.”

 

Email: info@alloyres.com

Website: www.alloyres.com