Lithium Australia Set to Complete Maiden Sadisdorf Drilling

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) informed of progress at the company’s polymetallic tin-lithium Sadisdorf project in Saxony, Germany where the company is farming into a Joint Venture with German company Tin International AG.

Lithium Australia said the Sadisdorf project has the potential to provide feed to a commercial scale SiLeach® lithium carbonate plant.

The project is located on the doorstep of the German automotive industry, which is rapidly gearing up to produce large numbers of electric vehicles.

Late last year, LIT announced a JORC (2012) Inferred Mineral Resource of 25 million tonnes grading 0.45 per cent lithium oxide (Li2O) (at a cutoff of 0.3% Li2O) at the project.

Sadisdorf JV partner Tin International AG has previously defined a JORC (2012) tin Inferred Mineral Resource of 3.36 million tonnes at 0.44 per cent tin (at a cutoff of 0.25% tin).

The JV is just about to complete a diamond-drilling program at the Sadisdorf project, which was designed to validate historical drilling data and increase confidence in future mineral resource estimates.

LIT explained that geological logging of the core has shown encouraging visual indications.

The company has made completion of sampling and assaying of the remaining core a priority over April and May and it expects to provide a further update from Sadisdorf, including assay results from the completed drill program, in coming weeks.

“The mineralisation encountered in the drilling to date supports our vision of unlocking the value of the historic tin-tungsten mine Sadisdorf by adding lithium as an additional value driver,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Further metallurgical evaluation, including SiLeach® testing, will follow the drilling program with results being announced as they become available.”

 

Email: info@lithium-au.com

Website: www.lithium-au.com

 

Magmatic Resources Makes Yamarna Move

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THE BOURSE WHISPERER: Magmatic Resources (ASX: MAG) picked up two highly prospective gold exploration licences, within the proven Yamarna greenstone belt northeast of Laverton in Western Australia.

Magmatic Resources’ Yamarna gold project consists of exploration licence E38/2918 where the company has a binding agreement to acquire Landslide Investments Pty Ltd, the holder of the tenement, and exploration licence application E38/3312.

The total 252 square kilometre Yamarna project area is situated just 15 kilometres northwest of the six million ounce Gruyere gold mine, currently under construction by major gold miner Gold Fields and its Joint Venture partner Gold Road Resources (ASX: GOR), which made the initial Gruyere discovery.

Gold Fields also owns 20 per cent of Magmatic Resources.

“The addition of the Yamarna gold project is in-line with the company’s acquisition and evaluation strategy being applied to its advanced exploration portfolio in New South Wales,” Magmatic Resources managing director David Richardson said in the company’s announcement to the Australian Securities Exchange.

“Both the Yamarna project and separate acquisition of the Mt Venn copper-nickel-cobalt project, just 40 kilometres to the west, are located in proven mineralised districts and are targeting gold and growth commodities.”

 

Email: info@magmaticresources.com

Website: www.magmaticresources.com

 

Barra Resources Ready to Drill at Main Lode Gold Mine

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THE DRILL SERGEANT: Barra Resources (ASX: BAR) outlined its 2018 exploration program, which will commence with RC drilling at the company’s wholly-owned Burbanks gold project, southeast of Coolgardie in Western Australia.

Barra Resources has completed a geological assessment and strategic review of its gold portfolio which it indicated to have resulted in a comprehensive update to the company’s gold strategy.

“The updated gold strategy is based on an initial Exploration Target of 223,000 to 564,000 ounces of gold for Burbanks alone,” Barra Resources said in its ASX announcement.

“The potential quantity and grade of the Exploration Target is conceptual in nature as there has been insufficient exploration to estimate a Mineral Resource beyond Birthday Gift.

“It is uncertain if further exploration will result in an estimation of a Mineral Resource.”

Barra will kick off the drilling phase of its updated strategy with 4,000m of RC drilling at the high-priority Main Lode Gold Mine.

The Main Lode underground mine produced 146,000 tonnes at 18.3 grams per tonne gold for 85,900 ounces of gold to a depth of 240 metres below surface level between 1885 and 1914.

From 1946 to 1951, Western Mining Corporation accessed Level 8 at Main Lode and undertook extensive strike drive sampling, yielding a pay-run of 160m at 16.1g/t gold at an average width of 0.4m.

Drilling carried out by Barra in 2017 at Main Lode returned encouraging results, including:

11 metres at 5.70g/t gold from 44m;
5m at 9.62g/t gold from 33m;
5m at 8.65g/t gold from 37m;
5m at 3.70g/t gold from 44m; and
5m at 3.29g/t gold from 82m, including 2m at 6.77g/t gold from 82m.

“The 2017 program at Main Lode successfully defined a 400 metres long strongly mineralised zone along the Burbanks Shear to a depth of 70 metres below surface level, immediately adjacent to the historical mine workings,” Barra Resources said.

“This demonstrated the potential for significant resources to be delineated along strike and below the historic underground mining areas.

“Based on this history and results, Main Lode has been deservingly selected as the highest priority drilling target.”

Barra has approvals in place from the WA Mines Department and a drilling contractor ready to go.

The company explained drilling will focus on extending the strike of the existing mineralised zone from 400m to 800m by initially testing an additional 200m of strike extent to the north and south.

The 4,000m program also aims to increase the depth extent to 250m below surface level by testing the next 180m vertically below the 2017 program.

 

Email: info@barraresources.com.au

Website: www.barraresources.com.au

Alliance Resources Returns to Wilcherry for Diamond Drilling

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) has commenced regional diamond drilling for base metals at the Wilcherry project, along with Joint Venture partner Tyranna Resources (ASX: TYX).

The Wilcherry project is located within the southern part of the Gawler Craton in the northern Eyre Peninsula, South Australia.

“Our exploration objectives are twofold, (1) to access the economic potential of the high grade Weednanna gold prospect for development, and (2) to assess the regional potential for base metals,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“Should we make a base metals discovery, it has the potential to materially and positively impact the company’s value.

“In support of this, previous exploration suggests the project is highly prospective for gold, iron, tin, copper, zinc, lead and silver.”

Alliance Resources explained the drilling is expected to possibly take up to 12 weeks to complete on single shift, however, initial results are anticipated to start flowing through within four weeks from completion of the first hole.

During February, the JV completed ground moving loop electromagnetic (MLEM) surveys over the last of the heli-electromagnetic (HEM) target areas to better define those HEM conductors.

Fourteen MLEM targets were defined as follows:

Eight targets were RC drilled for 1,256 metres during February and March (results awaited); and

Six are planned to be drilled using a multipurpose rig capable of rotary mud pre-collars and triple tube diamond core tails for 1,960 metres.

In addition to the drilling above, hole 17EMRC006 at HP2 (North), drilled in late 2017, was abandoned at 162m due to broken ground and clay, yet intersected 3 metres at 0.4 per cent zinc from 159m to end of hole.

Alliance Resources said the diamond drilling will return to commence at the MLEM target HP2 (North) in the western part of the project area to test the zinc mineralisation, then move to HP2 (South) and the remainder of the MLEM targets.

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Blackham Resources Declares Record Production Month

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THE BOURSE WHISPERER: Blackham Resources (ASX: BLK) declared a record gold producing month for March 2018 at the company’s 6.5 million ounce Matilda-Wiluna gold operation in Western Australia.

Blackham Resources announced gold production in March of 7,419 ounces, an 11 per cent increase on February 2018, when it produced 6,713 ounces.

The figures presented a new record quarterly gold production of 20,631 ounces of gold, providing at a 38 per cent increase to the previous December 2017 quarter achievement of 14,922 ounces.

The company put the March quarter’s production increase down to it gaining access to higher grade zones in the M4 and Galaxy pits late in the December 20117 quarter

During the September 2017 and December 2017 quarters 248,000 tonnes and 206,000 tonnes of low grade stockpiles where processed respectively at an average grade of 0.7 grams per tonne, reducing mill feed grade for those quarters.

During the March quarter throughput increased eight per cent on the prior quarter while plant recoveries decreased slightly as deeper ore from the M4 pit was processed.

“The March operational results demonstrate a continuation of the step change in project economics that commenced in December 2017,” Blackham Resources executive chairman Milan Jerkovic said in the company’s announcement to the Australian Securities Exchange.

“Record production and significantly reduced costs underpinned a quarter of strong operational cashflows, whilst building stockpiles.

“We remain confident that 2018 will be a transformational year that will generate significant operating cash flows and value for Blackham and its shareholders.”

 

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

 

Alliance Resources Hits Further High-Grade Gold at Weednanna

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released provisional results for the fourth round of reverse circulation (RC) drilling undertaken at the Weednanna gold prospect, part of the Wilcherry Project Joint Venture between Alliance (67.35%) and Tyranna Resources (ASX: TYX) (32.65%).

Alliance Resources explained the RC drilling program was completed in March and was designed to define the geometry of Target 4 at the project.

Drilling consisted 19 holes testing Target 4 and three initial holes testing the new Target 5.

A total of 22 RC holes were drilled (18WDRC001-022) and preliminary results have been received for 17 holes.

Of these, 14 holes reported intercepts greater than one gram per tonne gold, with three holes returning >50g/t-m gold.

Alliance said the drilling at Weednanna Target 4 continued to return high-grade gold results, including:

18WDRC003
16 metres at 3.2g/t gold from 84m;

18WDRC005
12m at 10.2g/t gold from 92m, including 4m at 28.1g/t gold from 96m; and

18WDRC006
4m at 12.4g/t gold from 52m.

The drilling also confirmed a new Target 5 lode returning a best intercept of:

18WDRC016
8m at 2.2g/t gold from 164m.

“These latest results from drilling at Targets 4 and 5 indicate very robust gold intercepts and reinforces our view of Weednanna as a growing high-grade gold system that we are continuing to progress successfully with each round of drilling,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

Alliance Resources followed up with the commencement of a high-resolution gravity survey at the Weednanna gold prospect, during which 2,550 stations will be surveyed, comprising 1,900 stations using a 25-metre grid over the central Weednanna area and 600 stations using a 50m grid elsewhere.

Alliance expects the high-resolution gravity survey at Weednanna and surrounds will assist with mapping the sub-surface geology, particularly the target corridors of calc-silicate and magnetite skarn that host high grade gold shoots.

The data will complement the existing airborne magnetic, induced polarisation and drilling datasets at Weednanna and will be utilised for constrained 3D inversion modelling to assist with targeting new gold lodes.

“Successful drill results have shown us that this deposit has high potential for economic development with what we’ve discovered so far,” Johnston said.

“This close-spaced gravity survey will provide a powerful targeting tool to help unlock the further potential of the high grade Weednanna gold system.”

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Ventnor Resources Tables Muchea Silica Sand Project Drilling Results

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THE BOURSE WHISPERER: Ventnor Resources (ASX: VRX) received results from a preliminary due diligence drill program carried out at the Muchea silica sand project in Western Australia.

Ventnor Resources recently announced that, subject to shareholder and regulatory approvals, it has secured an option from Australian Silica Pty Ltd to acquire tenement E70/4886, which forms the Muchea silica sand project located 50 kilometres north of Perth.

As part of Ventnor’s initial due diligence investigations into the project prior to grant of the option, the company conducted an aircore (AC) and hand auger drilling program within the tenement area to confirm the potential of the project as indicated by previous work undertaken by Australian Silica.

The drilling included an AC drilling program of 46 holes for 522 metres and 43 hand auger holes for 249 metres and returned an average intercept grade of 99.5 per cent silicon dioxide (SiO2).

The company has now received a full analysis of all the quality control data, which it said had validated the drill assay dataset and conforms to the guidelines for reporting under the JORC-2012 code.

“The results of our preliminary due diligence drilling program have confirmed the results provided by Australian Silica and also that this project has the potential for a very large high-grade silica sand resource,” Ventnor Resources managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“It supports and justifies the company’s decision to secure an option to acquire the underlying tenement.

“As part of our due diligence investigations, we have also commenced a comprehensive testwork program to ascertain what products could be produced and marketed from the project and later to support a JORC-2012 compliant Mineral Resource.

“The testwork program, which is ongoing, will also produce sufficient quantities of products to enable samples to be sent to prospective customers.”

“The company has already received a number of enquiries from potential Asian customers.

“As part of its due diligence the company undertook an environmental desktop study which will also support a referral to the relevant environmental authorities prior to field studies for a Mining Proposal.”

 

Email: info@ventnorresources.com.au

Website: www.ventnorresources.com.au

 

Calidus Resources Produces Encouraging Metallurgical Results from Klondyke

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) released results of metallurgical testing carried out at the Klondyke project located at the company’s Warrawoona gold project in the Pilbara of Western Australia.

Calidus Resources said the metallurgical testwork results are consistent with the company’s expectations as it continues to advance the Warrawoona project towards a pre‐feasibility study.

The testwork produced highlights, including:

Excellent gold recovery characteristics with similar testwork response from oxide and fresh ores;

Greater than 96 per cent cyanide leach recoveries at relatively coarse grind (80% passing 150 microns) and 24‐hour leach;

High gravity recoverable gold of 63 per cent;

Exceptionally low reagent consumption (average sodium cyanide 0.17 kilograms per tonne, lime 0.74kg/t); and

Ore characteristics well suited to conventional crushing and ball milling.

“These metallurgical results position Calidus very favourably as we progress towards the commencement of the pre‐ feasibility study to evaluate the development options for the Klondyke project,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Attractive resource grade, geometry well suited to open pit mining and simple ore processing with high gold recoveries and low reagent consumption could underpin Klondyke as a low operating cost mine in Western Australia.”

The Klondyke deposit forms part of the Warrawoona Gold Belt, which was the initial focus for Calidus, and hosts a current JORC resource of 654,000 ounces at 2.06 grams per tonne gold and forms part of the global resource 712,000 ounces at 2.12g/t gold.

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Gold Road Kicks Off 2018 Yamarna Drilling Campaign

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) has commenced the company’s $23 million 2018 greenfields exploration drilling campaign at Yamarna.

Gold Road Resources has turned the key on four drill rigs operated by Ranger Drilling and DDH1 Drilling across prioritised company projects.

Gold Road completed a systematic exploration targeting project over the summer period, from which it prioritised the upcoming drill program that is aimed at testing all the highest‐ranked prospects through 2018.

The company has allocated the majority of its 2018 budget ($17 million) to its 100 per cent-owned Yamarna tenements.

The drilling has commenced on targets the company considers to have the best chances of discovering multi‐million ounce gold deposits capable of supporting the development of stand‐alone gold mining operations.

Gold Road has allocated the remainder of the budget ($6 million) to exploration on the Gruyere Project Joint Venture (Gruyere JV), a 50:50 joint venture with Gold Fields Limited, where Gold Road as Manager is targeting additional high‐margin deposits to supplement the Gruyere Project Life of Mine schedule.

“Our Yamarna Exploration Team has done excellent work in planning a well‐structured drilling campaign for 2018,” Gold Road Resources executive director – exploration and growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“Incorporating the drilling data and new geological interpretations from 2017, and maintaining our strict quality focus, we have balanced practicality with the flexibility required for remote greenfields exploration, while maintaining our continued focus on quality drill targets.

“We will intersperse our main activities targeting new stand‐alone discoveries with programs focussed on important resource and reserve development to add high‐margin satellite feed to the Gruyere JV.

“With drilling underway, we are now looking forward to receiving our first assays for the year and continuing the development of the Yamarna Belt as Australia’s newest gold district.”

 

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

 

Ausgold Encounters High-Grade Gold at Jinkas South

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THE DRILL SERGEANT: Ausgold (ASX: AUC) released results from recent reverse circulation (RC) drilling undertaken at the Jinkas South prospect, one of what the company considers to be many near-resource targets recently identified at its 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed an additional eight RC holes at Jinkas South during March following up positive results from previous drilling seeking to expand the broad zone of gold mineralisation that company has identified at the prospect, which lies approximately 275m south along strike from the Jinkas deposit.

The eastern-most hole drilled in this program (BSRC0814) intersected a zone of high-grade gold mineralisation similar in width and grade to those found along the northern portion of the Jinkas Resource of 20.9 million tonnes at 1.17 grams per tonne gold for 785,000 ounces of gold.

Assays of hole BSRC0814 returned:

26 metres at 6.6g/t gold from 117m, including 4m at 37.19g/t gold from 119m; and

4m at 3.35g/t gold from 124m.

Ausgold said the recent drilling supports the company’s geological interpretations and provides potential for the extension of the Jinkas Resource further along strike to the south and down dip to the east.

“These RC results from Jinkas South highlight the exploration potential that exists relatively close to the Jinkas deposit and the Resource areas at the KGP,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The new drilling has shown the potential for the discovery of further high-grade mineralisation along strike and the down dip of the main Jinkas deposit.

“At Jinkas South there is 650 metres of potential strike length in addition to the existing 1,400 mertes strike length of the Jinkas resource.

“Such high-grade mineralisation has the potential to significantly increase the Resource base and grade of the KGP as a whole.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com