Alliance Resources Assessing Weednanna Regional Gold Prospects

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) spruiked the regional gold potential surrounding the company’s Wilcherry project area in South Australia, which forms part of the joint venture (JV) between Alliance (71.09%) and Tyranna Resources (ASX: TYX) (28.91%).

Alliance Resources explained that since the formation of the JV, its primary focus has been to assess the potential of the high-grade Weednanna gold prospect for economic development.

The company has since advanced with this work and plans to establish a maiden mineral resource estimate in the first half of this year.

Alliance has improved its understanding of the gold skarn mineralisation model at Weednanna with two significant advances:

(1) The recognition of discrete high-grade gold shoots; and

(2) The location of gold shoots in both Paleo-Proterozoic meta-sediments and Archaean granite-gneiss.

Of note, the company has identified that previous exploration did not use appropriate drill hole spacing for the discrete high-grade gold shoots and largely ignored the opportunities in the Archaean granite-gneiss.

Alliance has commenced a review of the regional gold prospectivity to identify prospects with potential for gold mineralisation within five kilometres of Weednanna.

Preliminary compilation of the historic geochemical and drilling databases indicates gold exists at the Mawson, Ultima Dam South and Weednanna North prospects, with anomalous gold at the Ultima Dam and Ultima Dam North prospects.

“Now that our flagship Weednanna gold prospect is advancing towards a maiden mineral resource estimate, we have turned our attention to the regional gold potential proximal to the prospect,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“It is emphasised that the exploration potential at Weednanna itself remains very high, however, the high-grade gold intercepts at Mawson and Ultima Dam South, both within a short trucking distance to Weednanna, are also very exciting.”

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Gold Road Resources Confirms South Yamarna High-Grade Gold

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) released the first assay results from 2018 exploration campaign underway at the company’s 100 per cent-owned Yamarna project.

Gold Road Resources announced that high-grade mineralisation has been confirmed at both the Smokebush Camp, in the former South Yamarna Joint Venture, which it now owns 100 per cent, and along the 14-kilometre-long Supergroup Trend in the Wanderrie Camp which starts approximately 15 kilometres to the north of the Smokebush Camp.

Smokebush diamond drilling hs improved Gold Road’s understanding of and the continuity of high-grade dolerite hosted mineralisation, with best intersections including:

18SMDD0005
56.25 metres at 1.95 grams per tonne gold Au from 98.75m, including 5.41m at 4.22g/t gold from 133.65m and 7.73m at 5.45g/t gold from 144m; and

18SMDD0001
1.27m at 3.88g/t gold from 25m.

Diamond and RC drilling results from Wanderrie over the approximate 14-kilometre strike length of the Supergroup Trend have confirmed the potential to define several more deposits.

Best intersections include:

18WDRC0149
2m at 17.45g/t gold from 80m;

18WDRC0157
1m at 17.27g/t gold from 134m and 5m at 4.5g/t gold from 140m;

18WDRC0156
5m at 3.63g/t gold from 85m and 2m at 10.31g/t gold from 130m; and

18WDRC0159
5m at 3.64g/t gold from 57m.

“First drilling of our 2018 drilling campaign at our now 100 per cent-owned South Yamarna project has yielded immediate positive results at the Smokebush Camp, confirming high-grade mineralisation in a very prospective part of the Yamarna Belt,” Gold Road Resources executive director – exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“Approximately 15 kilometres to the north of Smokebush new zones of high-grade mineralisation, along an approximate 14 kilometre strike of the Supergroup Trend, also confirmed multiple areas of potential.

“Understanding the detailed controls in both areas, together with drill testing of high ranking targets at Toppin Hill and Yaffler South, also in this southern area, is likely to identify a district scale opportunity for follow-up drilling later this year.”

Gold Road acquired Sumitomo’s 50 per cent interest in the South Yamarna project consolidating its ownership over the majority of the Yamarna Belt, which now totals approximately 5,000 square kilometres, covering the 100 per cent-owned Yamarna project, 50 per cent of the Gruyere Joint Venture, and the 100 per cent-owned Throssel project north-east of Yamarna.

Consolidating the South Yamarna project area and its prospective targets, has allowed Gold Road to prioritise and focus on highest ranked prospects compared to previous years.

The company has identified priority targets to be tested in 2018 including Smokebush, Toppin Hill, Breelya, Yaffler South, Kingston North, and Hirono Trend.

These targets are all within 15 to 30 kilometres of the Supergroup Trend on the Wanderrie Camp and will be a major focus of Gold Road’s activity through 2018.

 

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

 

Magmatic Resources Completes Mt Venn Acquisition

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THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) completed the acquisition of the Mt Venn copper-nickel-cobalt project, located east of Laverton In Western Australia from Montezuma Mining Company (ASX: MZM).

Magmatic Resources said the deal provides it with coverage over 60 per cent of the Mt Venn Igneous Complex in a proven mineralised district.

The company said the acquisition of exploration licence E38/2961, constituting the Mt Venn project, provides it with immediate access to a highly prospective geological setting, immediately along strike from the copper-nickel-cobalt discovery made by Great Boulder Resources immediately south of Magmatic’s project.

Magmatic has subsequently acquired and applied for two gold exploration licences constituting the Yamarna gold project, in the Yamarna greenstone only 40 kilometres northeast of the Mt Venn project belt.

The Yamarna greenstone belt hosts the six million ounce Gruyere gold mine currently under construction by joint venture partners Gold Fields and Gold Road Resources (ASX: GOR).

Magmatic’s tenements are only 15km from Gruyere.

“We are very pleased to complete this transaction and believe our Mt Venn copper-nickel-cobalt project represents potential near-term upside for our shareholders,” Magmatic Resources managing director David Richardson said in the company’s announcement to the Australian Securities Exchange.

“We intend to commence fieldwork at the property to build on the previous exploration datasets, as well as reprocessing EM and VTEM data to assist planning for our drilling program.”

 

Email: info@magmaticresources.com

Website: www.magmaticresources.com

 

Rox Resources to IPO Mt Fisher Gold Project

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THE BOURSE WHISPERER: Rox Resources (ASX: RXL) announced plans to spin out the company’s Mt Fisher gold project in Western Australia into a newly established, 100 per cent-owned subsidiary, Helios Gold Limited.

Rox Resources intends listing this company on the Australian Stock Exchange via an Initial Public Offering.

The 219 square kilometre Mt Fisher gold project is located 270km north of Leonora, adjacent to the company’s Fisher East nickel project.

Mt Fisher contains a mineral resource of 973,000 tonnes at 2.75 grams per tonne gold for 86,000 ounces of gold.

Under the terms of the transaction, Helios will issue fully paid ordinary shares to Rox as consideration for the Mt Fisher gold assets.

Existing Rox shareholders will be given a priority offer to subscribe for shares in the Helios IPO.

It is expected that Rox will initially hold an interest of approximately 33 per cent in Helios, which will boast a separate management team and board.

The directors of Rox declared their confidence that vending Mt Fisher into Helios and floating the company will be of benefit to the project, bringing an increased focus and dedicated funding.

Rox said its shareholders will retain exposure to the upside potential of Mt Fisher, while allowing the company to focus its advancing nickel and base metals interests.

“We originally acquired the Mt Fisher tenements in 2011 for the outstanding gold potential the project area offered, but the discovery of nickel at Fisher East since that time has made it difficult to give the gold assets the proper focus they required,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“For some time now, the market has not attributed any value to Mt Fisher, and we believe this is the most efficient and effective way for our shareholders to realise the full potential and unlock the inherent value.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Intermin Resources Achieves Positive Metallurgy Results at Richmond

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC), along with JV partner AXF Vanadium Pty Ltd, announced positive initial metallurgical testwork results from the Lilyvale prospect area, part of the Richmond vanadium project in northwest Queensland.

Intermin Resources said the first pass pre-concentration testwork was completed on samples from the Lilyvale prospect area aimed at upgrading the run of mine ore utilising gravity, screening and flotation prior to downstream processing.

The test work was carried out by Beijing General Research Institute of Mining and Metallurgy and the Hunan Research Institute for Nonferrous Metals in China.

Intermin explained both Institutes account for over 60 per cent of test work conducted on vanadium in China with testwork programs jointly developed using AXF’s in-house expertise and the considerable experience of both institutes.

Two-stage concentration tests resulted in a 1.1 per cent vanadium oxide (V2O5) grade in 39 per cent of the mass at a 78.4 per cent recovery.

Further test work is now underway to optimise the pre-concentration stages with the aim of delivering a 1.5 per cent to 2 per cent V2O5 feed stock at acceptable recovery for downstream processing test work.

The Lilyvale prospect has an Inferred Mineral Resource (JORC 2012) of 670 million tonnes at 0.35 per cent V2O5 at a 0.29 per cent cut-off grade.

Lilyvale is the initial development focus for the JV and forms part of the greater Richmond project with a Mineral Resource of 2,579 million tonnes at 0.32 per cent V2O5 at a 0.29per cent cut-off grade.

“The first pass results from Lilyvale are extremely encouraging and confirm the historic testwork completed by Intermin over the last decade,” Intermin Resources managing Director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“To have highly credentialed research institutes in China delivering 78 per cent of the vanadium into 39 per cent of the mass at good grades bodes well for the optimisation testwork now underway.

“We look forward to further results and moving forward with AXF on the downstream processing studies and upgrading the Lilyvale resource.

“With the soft oxide mineralisation just four metres below surface at Lilyvale, the scale of the project has the potential to compete with any world class vanadium deposit and meet the supply needs of both the steel and emerging energy storage markets.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Blackham Resources Identifies Mineralisation Extensions at Wiluna

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) declared its latest drilling program at the company’s Wiluna and Matilda gold operation in Western Australia has identified extensions to shallow oxide and transitional mineralisation.

Blackham Resources said the results indicate potential for new open pits close to the Wiluna plant.

During March and April, Blackham’s exploration team drilled 130 RC holes focused on delineating further free milling open pit reserves over the 3.7 kilometres of strike at the Wiluna Mine.

The company said the Wiluna Mine drilling is expected to conclude in mid-May and resources will be re-estimated at that time.

“Pit optimisation studies completed immediately prior to this drilling demonstrate the potential for open pit cutbacks and new open pits to be developed at the Wiluna mine site,” Blackham Resources said in its ASX announcement.

“The $1,400 and $1,800 shells are similar in extent, which shows open pit mining is expected to be economic at a range of potential gold prices.

“These latest drilling results are expected to support substantial increases to open pit resources and reserves within open pits.”

Blackham said the potential for increased sulphide resources was highlighted by drill hole WURC0508, which intersected high-grade Wiluna shear-style sulphide mineralisation of:

22 metres at 3.29 grams per tonne gold from 97m down-hole, including 2m at 5.15g/t gold and 3m at 8.33 g/t gold.

Balckham said these zones show improving grade and thickness of Starlight mineralisation at depth and remain open for follow-up drill testing.

“Wiluna Mine final drilling results from outstanding holes are expected by the end of May, with resource and reserve updates to follow,” the company said.

“Golden Age underground drilling is ongoing and Lake Way drilling is due to commence this month.”

 

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

 

Gascoyne Resources Close to First Gold at Dalgaranga

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) advised that ore commissioning of the 2.5 million tonnes per annum processing plant at the company’s Dalgaranga gold project in Western Australia, is underway.

Gascoyne Resources indicated that GR Engineering has commenced the ore commissioning of the Dalgaranga processing plant, declaring it to be effectively complete with components being commissioned with ore and progressively tested up to their design capacities.

“First gold production expected in around 10 days,” Gascoyne Resources said in its ASX announcement.

“Construction of the project has progressed ahead of the original schedule, and remains under budget.”

 

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au

 

Nusantara Resources Updates Awak Mas Gold Minerals Resource

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THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) announced a Mineral Resource update for the company’s Awak Mas gold project in South Sulawesi, Indonesia.

Nusantara Resources declared the Indicated and Inferred Resource estimate, at 0.5 grams per tonne gold cut‐off, for Awak Mas, consisting of the Awak Mas, Salu Bulo and Tarra deposits, to now stand at 45.3 million tonnes at 1.4g/t gold for 2 million ounces.

The company highlighted that 95 per cent of the contained ounces within the Awak Mas deposit and 90 per cent of the contained ounces in the Salu Bulo deposit now report to the Indicated Resource category.

This represents a 0.2 million ounce increase in contained gold in the Indicated Resource category compared to the previous Mineral Resource estimate.

Nusantara expects an increase in resource confidence with the reclassification from Inferred to Indicated to positively influence the Ore Reserve, open pit mine life, and project economics as the DFS progresses.

The DFS is currently on track for delivery in July 2018 with a further material upgrade in the Ore Reserve anticipated following incorporation of this Mineral Resource update.

The company explained the focus of the DFS to now being on value enhancement with attention to waste dump design, pit optimisation, materials handling efficiency and mine scheduling.

“Achieving 89 per cdent in the Indicated Resource category for the Awak Mas gold project is a direct reflection of strong confidence in the geological model,” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“This Mineral Resource update also confirms potential to increase the mine life beyond our initial ten-year target, which will be confirmed in the forthcoming DFS.

“It is pleasing to see our geological and feasibility work continuing to demonstrate Awak Mas as a long-life, low cost, stand-alone gold project with significant exploration upside for further growth.”

 

Website: www.nusantararesources.com

 

Berkut Minerals Hit Further Cobalt Intersections at Skuterud

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THE DRILL SERGEANT: Berkut Minerals (ASX: BMT) received assay results from recent additional sampling of core from a maiden diamond drill program carried out at the company’s 100 per cent-owned Skuterud cobalt project in Norway.

Berkut Minerals claimed it has now identified three distinct cobalt anomalous zones in both of the sections it has drilled at Middagshville within the Skuterud project.

The company said the lates results defined a 7.6m wide anomalous cobalt/copper zone in hole MDV006.

Berkut carried out relogging of drill core in March, along with additional cutting and sampling of selected core targeting intersections of anomalous cobalt/copper mineralisation that were not completely terminated by previous sampling.

Results from this sampling include:

MDV006
2 metres at 0.08 per cent cobalt from 72m within a 7.6m wide anomalous cobalt/copper zone (0.04 per cent cobalt and 0.1 per cent copper from 72m); and

MDV003
9m at 0.03 per cent cobalt and 0.15 per cent copper from 46m.

The company indicated the newly identified zones will aid in both 3D interpretation and targeting on the ground.

“The company looks forward to progressing field activities at Skuterud in May this year,” Berkut Minerals managing director Neil Inwood said in the company’s announcement to the Australian Securities Exchange.

“The results from the recent infill core sampling have confirmed that at least three distinct cobalt anomalous zones are being seen within a broader copper halo near the Middagshville workings.

“Berkut is now preparing for a follow up drilling program designed to vector in on high grade cobalt zones exploited within the historical workings.

“With $4 million of cash, Berkut is well funded to continue to explore this exciting 6.5 kilometre trend of cobalt workings at Skuterud which was, in its day, the World’s largest cobalt producer.”

 

Website: www.berkutminerals.com.au

 

Alto Metals Identifies Additional Aircore Drilling Targets

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THE DRILL SERGEANT: Alto Metals (ASX: AME) received the first batch of assays from a regional soil sample program on the company’s Sandstone project in Western Australia.

Alto Metals said the program had defined several new gold-in-soil anomalies between and around the Vanguard and Maninga Marley areas of the project.

The sampling demonstrated extensive gold in soil anomaly associated with Vanguard (and Vanguard North), and a new northeast trending anomaly halfway between Vanguard and Maninga Marley, and a strong and extensive gold in soil anomaly to the north and east of Maninga Marley, which complements a previous soil anomaly detected by Troy Resources.

The recent sampling program followed a compilation put together by Alto of a patchwork of soil sampling programs from various previous explorers.

The soil sampling program is to involve 3,000 samples over 17 target areas that Alto expects will, “fill in the gaps” in regard to its current knowledge base.

“To date, 1,654 soil samples have been collected and submitted for low level gold analysis, and results have been received from the first batch of 332 samples located between Vanguard and Maninga Marley,” Alto Metals said in its ASX announcement.

“The results of Alto’s two previous soil sampling programs, located over Vanguard and Maninga Marley indicated that gold in (residual) soils was more widespread than previously thought, and that further soil sampling at Sandstone could assist in the identification and ranking of gold targets for drill testing.

“The current soil sampling program is approximately 50 per cent complete, with another 1,400 samples planned to be taken.”

Alto Metals indicated a nominal 20,000 metre program of aircore drilling has been budgeted for drill testing soil anomalies at Vanguard, Maninga Marley, and a number of other prospects.

This work will commence in late May with RC drill testing to follow shortly thereafter.

This program includes a 5,000m aircore drilling program between and around Vanguard and Vanguard North, and these new soil results will add further holes and metres to that program.

 

Email: admin@altometals.com.au

Website: www.altometals.com.au