Metalicity Commences Napier Range Exploration Activities

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has commenced exploration activities on its recently-acquired Napier Range zinc project in Western Australia.

Metalicity said the activities, along a four-kilometre strike of zinc targets, follows the completion of an institutional placement.

The company is refining high-priority targets from recent field mapping, rock chip sampling, drill hole database review and resource block model review for an upcoming drilling program.

This will include a diamond and RC resource and exploration drilling program to commence in concert with an approved program of works (POW), targeting a June Quarter start.

Resource targets within the existing Mineral Resource Estimate (MRE) of 750,000 tonnes at 5.8 per cent zinc, 7.2 per cent lead, 54 grams per tonne silver (13.6% ZnEq) will be targeted with the intent to progress the existing Inferred MRE to the Indicated category.

Exploration targets outside of the resource along the 4km strike extent will be tested for new mineral discoveries including three of nine targets the company has defined to date.

“We are very excited to commence exploration including an aggressive drill program at the Napier Range zinc project which already contains a high-grade near surface resource as well as three of nine excellent high-grade exploration targets identified to be drill tested along a four-kilometre strike extent,” Metalicity managing director Matthew Gauci said in the company’s announcement to the Australian Securities Exchange.

“A POW has been approved by the Department of Mines and, weather permitting, we aim to be drilling during the June Quarter to increase the inferred resource category to indicated while, importantly, testing some high-grade exploration targets which have not been the subject of systematic exploration, and bodes well for new high-grade zinc discoveries.”

 

Website: www.metalicity.com.au

 

Cassini Resources announces imminent West Musgrave Exploration

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced an exploration program is set to commence at the West Musgrave Project (WMP) in Western Australia.

Cassini Resources explained the WMP is entering the second stage of the Earn-in/JV Agreement with OZ Minerals (ASX: OZL) that comprises a $15 million Pre-Feasibility Study for the Nebo-Babel deposits, with a concurrent exploration program of $4 million.

A further $4 million is also available during the next stage of the Joint Venture, for a total minimum of $8 million exploration spend over a maximum time of 2.5 years as part of OZL funded Earn-in/JV, with additional $4 million in next Stage.

Initial targets include the Yappsu prospect, which Cassini describe as being a Nebo look-a-like.

“(Yappsu was) Discovered in 2009, drilling initially targeted a surface moving loop electro-magnetic (MLEM) anomaly, with several holes intersecting a thick zone of disseminated mineralisation and importantly, including zones of high-grade massive to breccia nickel sulphides,” Cassini said in its ASX announcement.

“Platinum and palladium grades are significantly higher than Nebo and Babel and are potentially indicative of a higher tenor system.”

Previous results from Yappsu include: 2.55 metres at 2.42 per cent nickel, 0.48 per cent copper massive sulphide within 44.3m at 0.49 per cent nickel 0.48 per cent copper.

The upcoming work will also chase high-grade extensions at Babel to follow up earlier results that included:

BW3
25.1m at 0.94 per cent nickel 0.94 per cent copper.

“BW3 is the highest conductance DHEM plate in the entire Babel deposit and strikes over 300 metres, extending 230 metres to the west of WMN4049 which has not had any further drill testing,” Cassini said.

“The limit to the extent of the BW3 plate model is only constrained by distance from adjacent holes. Therefore, there is no conceptual reason why this mineralisation could not continue down-plunge.”

In early 2017, Cassini announced the discovery of copper mineralisation at One Tree Hill, approximately 13km southwest of Nebo-Babel.

This was only the 5th hole at the prospect targeting an off-hole conductor from an earlier hole drilled by Cassini in 2015.

The company will follow up the intersection of 3.2m at 2.16 per cent copper, 0.58 per cent nickel massive sulphide within 34m at 1.05 per cent copper with surface and downhole EM programs designed to generate new targets.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Rox Resources Outlines 2018 Exploration Strategy

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THE BOURSE WHISPERER: Rox Resources (ASX: RXL) outlined the company’s proposed exploration activities for 2018.

Rox Resources said its strong financial position means that it can undertake substantial exploration programs while it continues to look for new asset opportunities that will build on its current portfolio.

The company has been focused on the acquisition of a suitable project with a clear path to production over the past six months, but it also has nickel and gold resources in hand, which, in the light of the continued strong performance of the nickel and gold price, it believes deserve to be further progressed.

“We are in an enviable position for an explorer heading into 2018,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We remain well cashed-up with $12 million at the end of December.

“We have an exceptional portfolio of existing assets with exposure to the nickel and gold markets.

“We will continue to pursue these and monitor market conditions, particularly with respect to where we see nickel in coming years, however, our financial position also gives us the firepower to pursue a near-term growth opportunity and we are looking at numerous projects across a range of attractive commodities that we think can deliver significant shareholder value in the short term.”

The company has designed a program of work to both discover new deposits and increase existing resources at both Fisher East and Collurabbie.

At Fisher East diamond drilling is planned to extend the Musket and Camelwood deposits by testing strong downhole EM anomalies, and at Corktree to test a very strong one-kilometre-long EM conductor, detected from surface.

Aircore drilling at Collurabbie and Fisher East will allow continued definition of geochemical trends to allow targeting of deeper drilling to discover new nickel sulphide orebodies.

“At Fisher East our aims are to make a new game changing massive nickel sulphide discovery, while at the same time increasing resources and continuing to assess development options,” Mulholland said.

“At Collurabbie our ultimate aim is to find more massive nickel sulphide orebodies like Olympia.”

Aircore drilling completed at Mt Fisher in December 2017 returned strong results at a number of prospects over a 10km strike length Rox considers warranting follow-up to add to current gold resources.

A program of RC drilling is planned to test targets at Dam, Dam North, Damsel, Damsel South, Dirks and Shiva.

“With our existing resource base of 86,000 ounces of gold, we see the potential for greater than 500,000 ounces of gold in these targets at Mt Fisher.

“If we can achieve that, it will represent a significant gold development opportunity.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Thundelarra Drills Further Promise at Transylvania

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THE DRILL SERGEANT: Thundelarra (ASX: THX) updated the market on recent diamond and reverse circulation drilling carried out at prospects, including Transylvania and Battery, that form part of the company’s Garden Gully gold project near Meekatharra in Western Australia’s Murchison Province.

Thundelarra completed 20 reverse circulation (RC) holes and one diamond hole to test targets at four Garden Gully prospects.

New intersections encountered at Transylvania (downhole widths) returned:

TGGRC123
3 metres at 8.3 grams per tonne gold from 68m, within 8m at 3.3g/t gold from 67m.

New intersections at Battery (downhole widths) returned:

TGGRC137
4m at 2.6g/t gold from 52m, within 6m at 1.9g/t gold from 52m.

The results follow previously announced intersections at Transylvania of:

TGGRC044
2m at 4.4g/t gold from 108m, within 7m at 1.3g/t gold from 107m; and

TGGRC022
2m at 6.1g/t gold from 106m, within 6m at 2.8g/t gold from 103m.

And previously announced intersections at Battery of:

TGGRC053
4m at 3.3g/t gold from 164m, within 8m at 2g/t gold from 164m.

“Evaluation of new data from drilling at Transylvania, Battery, South Crown and Granite Well continues to support the possible existence of a large mineralised system at depth beneath Garden Gully, acting as a single source for the mineralisation at these prospects and at Lydia and Crown Prince,” Thundelarra said in its ASX announcement.

“Next drilling programs will work towards delivering maiden resources at both the Crown Prince and the Lydia prospects and at identifying new mineralised structures to contribute to the Garden Gully project’s inventory.

“Results from over 26,000 metres drilled in 141 holes (23,556m RC; 2,523m DD) since mid-2016 continue to support the potential for a major new gold discovery at Garden Gully, located in one of Western Australia’s most productive gold provinces.”

 

Email: info@thundelarra.com.au

Website: www.thundelarra.com.au

 

Azure Minerals to Resume Drilling at Sara Alicia

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) is set to commence a second diamond drilling campaign on the company’s 100 per cent-owned Sara Alicia gold-cobalt project in the northern Mexican state of Sonora.

Azure Minerals explained the drilling is being carried out to follow up on the company’s successful 2017 maiden drilling program, in which all six drill holes to be completed intersected high grades of gold and cobalt mineralisation at shallow depths.

The best intersection from Azure’s maiden drill program returned:

26.2 metres at 9.5 grams per tonne gold and 1.26 per cent cobalt from 0.60m depth, including 12.6m at 16.8g/t gold and 6.35m at 3.57 per cent cobalt.

“Our first drilling program at Sara Alicia returned one of the thickest and highest-grade cobalt drill intersections reported from anywhere in the world in 2017,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“Following this success, we accelerated exploration with surface geochemical and geophysical surveys to delineate the shape and potential size of the body hosting the high-grade gold and cobalt mineralisation.

“This was a very successful program and with these results now in, it looks like most, if not all, of the target body is hosted within our property.

“We’re confident that our next drilling program will identify significant amounts of additional gold and cobalt mineralisation.”

 

Website: www.azureminerals.com.au

 

BCI Minerals Delivers Further Positive News from Kumina

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THE DRILL SERGEANT: BCI Minerals (ASX: BCI) released further results from phase 1 drilling at the Kumina A deposit within the company’s Kumina tenements in Western Australia.

BCI Minerals’ Kumina tenements comprise three granted exploration licences covering an area of approximately 480 square kilometres, located approximately 50km north-east of the company’s Bungaroo South deposit.

Iron ore deposits discovered at Kumina are intended to become part of BCI’s Buckland project, where the company is targeting a 15 million tonnes per annum operation for 15 years from Bungaroo South, Kumina and other deposits for export through its proposed Cape Preston East Port.

The company said that assays from the final 25 holes of Kumina A phase 1 drilling had confirmed the presence of further Channel Iron Deposit (CID) mineralisation from surface.

Best results included:

KRC0060
34m at 59.1 per cent iron from surface; and

KRC0061
34m at 58.7 per cent iron from surface.

Further activities included mapping and rock chip sampling at other Kumina targets, which also confirmed the presence of higher grade Bedded Iron Deposits (BID) in the Brockman Iron Formation.

Best rock chip results were from Target E and included 67.2 per cent iron, 65.2 per cent iron and 64.3 per cent iron and Target J, which included 65 per cent iron, 64.9 per cent iron and 64.2 per cent iron.

“Kumina exploration results continue to meet and exceed BCI’s expectations,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.

“We are increasingly confident that Kumina can deliver sufficient tonnage of good quality iron ore to support a viable 15 million tonnes per annum operation at Buckland and development of the strategic Cape Preston East Port.”

 

Email: info@bciminerals.com.au

Website: www.bciminerals.com.au

 

Emmerson Resources to Retain Gold Projects in Restructure with Evolution Mining

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THE BOURSE WHISPERER: Emmerson Resources (ASX: ERM) revealed results of discussions on the future of the Tennant Creek Mineral Field (TCMF) JV with Evolution Mining (ASX: EVN).

Emmerson Resources said the discussions had resulted in a proposed new ownership structure that reflects the differing size and corporate objectives of the two companies.

Under the restructure, Emmerson is to retain a 100 per cent (as opposed to 35% under the current terms of the TCMF JV) of all the gold dominant assets, prospects and associated exploration ground.

Emmerson emphasised that the TCMF is one of Australia’s highest-grade goldfields and is where Emmerson (and partners) have made the first new discoveries for over a decade.

The company added that these discoveries have been underpinned by a substantial investment by Evolution in acquiring new data, along with the application of new exploration tools and directly leading to the discovery of a new generation of hematite hosted, high grade gold projects such as seen at Edna Beryl and Mauretania.

Evolution will take a 100 per cent holding in the tenements (or parts of them) that contain the Gecko, Goanna, and Orlando copper-gold prospects.

These comprise some six per cent of the entire TCMF land position and are predominantly copper rich but are considered to have potential for gold grades to increase at depth.

Further exploration of these prospects will require deep drilling and Evolution intends to test these prospects for potential new discoveries of scale at depth and along strike.

“Emmerson is very pleased with the outcome of these negotiations with our partner, Evolution Mining,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.

“This proposed restructure better aligns the assets with the respective companies.

“It provides Emmerson shareholders with near term, high margin gold assets and exploration ground that can be more easily developed within the constraints of the Emmerson balance sheet.

“Importantly, the investment in new data during the term of the JV has provided new insights into what we believe is a new generation of high grade, hematite hosted gold deposits.

“Directly leading to discoveries at Edna Beryl West, Mauretania and a string of promising drill intercepts that will now be followed up.

“Emmerson also look forward to accelerating the monetisation of our small mines portfolio given that we are now the 100 per cent owner.”

 

Website: www.emmersonresources.com.au

 

Intermin Resources Conducting New Discovery and Resource Growth Drilling Program

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC) has kicked off a major discovery and Resource expansion drill program at the company’s 100 per cent-owned gold projects in the Kalgoorlie region of Western Australia.

Intermin Resources explained the drilling will be split approximately 50 per cent on new discovery and 50 per cent on resource growth.

The program will focus on three core project areas: Teal, Anthill and Blister Dam.

Resource expansion drilling at Teal, Jacques Find, Peyes Farm and Anthill will be testing extensions along strike and at depth outside current resource envelopes.

New discovery drilling at Blister Dam, Teal, Fire Ant and Anthill will be extended to target high-grade open cut and underground orebodies.

RC and diamond drilling will also be carried out to test beyond the limits of historic drilling.

“With the significant free cash flow that has been generated from our first mining project at Teal, our focus now turns to exploration success as we kick off the largest drill program in Intermin’s history,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“New discovery drilling comprises roughly half of the fully funded $4 million program with priority walk up targets on the prolific Zuleika Shear and Bardoc Tectonic Zone.

“The Western Australian goldfields is a world class gold producing region with significant discoveries still being made through modern systematic exploration and investment in deeper drilling.

“We look forward to the first drilling results and adding our own chapter to the rich mining history of the Western Australian Goldfields.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Legend Mining Poised to Commence Rockford Drilling

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THE DRILL SERGEANT: Legend Mining (ASX: LEG) is set to commence a drill program at Area D aircore on the company’s Rockford project in the Fraser Range of Western Australia.

Legend Mining said the drilling will comprise 100 holes and has been designed to follow up highly anomalous nickel-copper results the company received in two aircore holes it drilled at the target in November 2017.

The upcoming program will also test additional aeromagnetic and gravity features.

Drilling is scheduled to commence in early-mid March 2018 and expected to take up to three months to complete.

“We are pleased to start our 2018 field season leveraging off the success of the aircore work late last year,” Legend Mining managing director Mark Wilson said in the company’s announcement to the Australian Securities Exchange.

“We feel we have found the haystack and are now working our way to the needle.”

 

Website: www.legendmining.com.au

Corazon Mining Commences Lynne Lake Drilling

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) informed the market it has commenced at the Fraser Lake Complex (FLC), located just five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt mining centre in Canada.

Corazon Mining kicked off the drilling on Valentine’s Day and expects the first hole (FLC-2018-018) to reach more than 600 metres in length.

The company said it had already encountered disseminated to heavy net-textured sulphide mineralisation from surface in the first hole, which is consistent with mineralisation it intersected with its 2017 drilling program.

“This is encouraging insofar as it supports the geophysical models being used to target drilling,” Corazon Mining said in its ASX announcement.

“Corazon expects to drill a minimum of 1,500 metres in the current program with at least two holes testing the large geophysical anomalies within the FLC.”

The company indicated the drilling is scheduled to be completed mid- March and will include new priority drill targets that were confirmed from Corazon’s 2017 fieldwork.

“The initial drill target is a deep-rooted, funnel-shaped, strongly magnetic anomaly, which has similar characteristics to the nearby high-grade nickel-copper-cobalt sulphide EL Mine Deposit, within the major historic Lynn Lake Mining Centre,” Corazon said.

Corazon has been exploring at the FLC since December 2016, carrying out drilling, ground geophysics, downhole geophysics and geochemistry.

The company believes the FLC has the potential to host substantial nickel-copper-cobalt sulphide deposits.

The large amount of data the company has generated to date has produced geophysical and geochemical models that have further refined the focus of the current drilling program at the FLC.

 

Email: info@corazonmining.com.au

Website: www.corazon.com.au