Musgrave Minerals Recommences Break of Day Drilling

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is back out drilling on the Break of Day gold deposit and at the new Louise discovery at the company’s Cue project in the Murchison region of Western Australia.

Musgrave Minerals explained its current diamond drilling at Break of Day is focused on extensions to high-grade shoots where previous drilling intersected:

17MORC084
11 metres at 54 grams per tonne gold.

This intersection is outside the current resource boundary and open down plunge.

A diamond drilling program that commenced in early December is progressing and is expected to take another four to six weeks to complete with first assays returned in early February.

An initial nine-drill hole program of reverse circulation (RC) drilling has also commenced at the recent Louise discovery to follow-up a near surface discovery intersection of:

17MORC112
4m at 15.4g/t gold from 79m.

This drilling is anticipated to take approximately seven days to complete with first assays expected in late February.

“The diamond drilling is confirming the continuity of the geology and gold mineralisation is consistent with the RC results,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The diamond drilling is now focusing on extending the high-grade gold shoots at depth at Break of Day.

“RC follow-up drilling at Louise will aim to extend the newly discovered near surface high-grade gold mineralisation and infilling the 750 metre gap in drilling between Break of Day and Louise.

“This is a high priority area for the company with significant upside potential to extend and grow our high-grade gold resource.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

Middle Island Resources Receives Positive Pit Optimisation News

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THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) announced results from pit optimisation of the Wirraminna deposit Mineral Resources.

Midlle Island Resources’ Wirraminna deposit is located immediately adjacent to the company’s 100 per cent-owned Sandstone gold project in Western Australia within one kilometre of the associated gold processing plant.

Middle Island declared a JORC 2012-compliant Mineral Resource estimate in December last year of 550,000 tonnes at 1.3 grams per tonne gold for 23,000 ounces of gold at a 0.5g/t gold lower cut-off grade for Wirraminna.

The company had open pit optimisations completed on the December 2017 Mineral Resource model using a base case Australian dollar gold price of $1,600 per ounce, as well as utilising other input parameters derived from the December 2016 Sandstone project Pre-Feasibility Study.

At a gold price of $1,600 per ounce the optimal pit shell, based on the maximum undiscounted operating cash flow, includes 72,000 tonnes at a grade of 1.97g/t gold for a strip ratio of 9:1.

According to Middle Island, this equates to a mill recovered 4,200 ounces of gold from a pit shell depth to a maximum of 45 metres from surface that is wholly contained within the oxide zone.

The company believes opportunity remains to further extend and enhance the Wirraminna deposit via follow-up drilling, including infill and extension drilling of Inferred Mineral Resources, and confirming the location of historic higher-grade holes.

To that end, it is planning further RC drilling and will obtain additional data, prior to updating pit optimisations, considering pit design work and Ore Reserve estimation.

“The positive drilling results, Mineral Resource estimation and pit optimisation work on the Wirraminna deposit serves to further extend the production profile for the proposed Sandstone gold operation,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“However, the quantum and grade of the deposit is presently insufficient to trigger a mill recommissioning decision in isolation.

“Drilling indicates that substantial potential remains to extend the deposit, and the location of higher grade historic drill intercepts of 11 metres at 23.8 grams per tonne, 16 metres at 14.6 grams per tonne and 19 metres at 4.85 grams per tonne gold remain unresolved.

“As such, a program of infill and extension RC drilling is planned to address these opportunities.”

 

 

Email: info@middleisland.com.au

Website: www.middleisland.com.au

Kin Mining Finalises Ball Mill Acquisition

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THE BOURSE WHISPERER: Kin Mining (ASX: KIN) exercised an option to acquire a 2.5 megawatt ANI-Ruwolt ball mill, CIL agitators and screens through the payment of $1.27 million to Macca-Interquip.

Kin Mining said the purchase completes the acquisition of necessary key equipment required for the development of the company’s Leonora gold project (LGP) in Western Australia, which currently under development.

Kin explained the purchase of the essential drive train components came with a few extras, including a spare motor, gearbox and pinion along with engineering details which will serve to reduce installation costs.

The ANI mill was last used at the Mt McClure gold operation in WA and is said to be in good condition with the six intertank screens and agitators being unused and in new condition.

The installation of the 2.5MW ball mill forms part of the upgrade of the Lawlers plant at the LGP, which Kin expects to provide single-stage primary grinding of the Cardinia ores at an annualised throughput rate of 1.5 million tonnes per annum.

“Kin has been very fortunate to secure this long lead equipment at a very competitive price,” Kin Mining managing director Don Harper said in the company’s announcement to the Australian Securities Exchange.

“Our construction team can now commence refurbishment work to ensure it can be installed according to the LGP development schedule.”

 

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

Matsa Resources Completes Maiden Red Dog Resource

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) released a Mineral Resource for the company’s 100 per cent-owned Red Dog project, located near Laverton in Western Australia.

Matsa Resources declared the JORC 2012 Code-compliant Red Dog Mineral Resource estimate of 368,000 tonnes at 2.2 grams per tonne gold for 26,300 ounces of gold with the majority of ounces (94%) sitting in the Indicated Category.

The company explained the resource estimate has been reported at a 0.5g/t gold lower cut-off and has not been constrained within a resource pit shell.

The Red Dog project is located 25 kilometres west of the company’s Fortitude gold project where trial mining is underway.

The Resource estimate follows recently completed RC drilling at Red Dog with results including:

17RDRC077
6 metres at 155 grams per tonne gold from 6m, including 1m at 921g/t gold from 7m;

17RDRC073
11m at 2.59g/t gold from 5m;

17RDRC082
14m at 1.97g/t gold from 3m;

17RDRC029
6m at 4.57g/t gold from 13m;

17RDRC087
8m at 3.23g/t gold from 22m;

17RDRC032
8m at 3.11g/t gold from 4m;

17RDRC081
10m at 2.31g/t gold from 8m; and

17RDRC072
8m at 2.56g/t gold from 11m.

“In order to determine the economic potential of the Red Dog gold project, Matsa is conducting pit optimisations, metallurgical testing and mining studies,” Matsa Resources said in its ASX announcement.

“A Native Vegetation Clearing Application was completed and submitted to DMIRS late in 2017 in order to speed up potential mining timeframes.

“Matsa considers the Red Dog project has the potential to be a near term mining opportunity with Matsa’s Fortitude mine infrastructure only 25 kilometres to the east and the Red October camp and accommodation infrastructure only 20 kilometres to the north.”

 

 

Email: reception@matsa.com.au

Website: www.matsa.com.au

Alliance Resources Confirms New Weednanna Gold Shoot

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released results from the third round of reverse circulation (RC) drilling at the Weednanna gold prospect.

The Weednanna prospect forms part of the Wilcherry project Joint Venture in South Australia between Alliance (61.36%) and Tyranna Resources (ASX: TYX) (38.64%).

Alliance Resources completed the RC drilling program in early November 2017, which was designed to define the geometry of Targets 1, 2 and 3 with step-out drilling and to test a new prospect – Target 4.

A total of 21 RC holes were drilled (17WDRC050-70), 15 of which returned intercepts of greater than one gram per tonne gold, with four holes returning greater than 50g/t-metres gold.

Alliance claims the drilling confirms a new high-grade gold zone within the project complex.

Results include:

17WDRC051
35 metres at 3.65 grams per tonne gold from 43m (Target 1), including 9m at 8.91g/t gold from 44m;

17WDRC057
6m at 13.63g/t gold from 59m (Target 2), including 3m at 26.6g/t gold from 62m;

17WDRC067
15m at 18.21g/t gold from 107m (Target 4), including 7m at 35.94g/t gold from 109m; and

17WDRC070
3m at 25.45g/t gold from 81m (Target 4), including 1m at 74.2g/t gold from 81m.

“These latest and final results from the drilling program at Weednanna clearly indicate to us that we have a significant high-grade gold project on our hands,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“We expect to commence progressing Weednanna towards a resource definition, encouraged by these latest widths and grades.

“Weednanna continues to impress and with further exploration planned we believe it has the scale and grade to be a company making project.”

 

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

Gascoyne Resources Commences Aggressive Exploration Drilling Program

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has kicked off a big exploration campaign across the company’s 2.3 million ounce gold projects in Western Australia.

Gascoyne Resources will carry out some 40,000 metres of aircore drilling at the Dalgaranga gold project to test extensions to the Sly Fox deposit.

Drilling will also be undertaken at the Seagrams prospect, and to test the Greencock prospect and extensions.

Other new targets will also be subjected to testing.

Around 10,000m of RC drilling will follow up and extend exploration results at Greencock, and other anomalous Aircore results.

At the Glenburgh gold project, approximately 10,000m of Aircore drilling will test regional targets alongside 20,000m of RC drilling to improve and extend the existing resource and test new mineralisation.

Auger and Soil Geochemistry will also test extensions of known mineralisation trends.

The Mt Egerton gold project will undergo 5,000m of aircore drilling to provide preliminary testing of a southwest extension to the Hibernian and Gaffney’s shear zones greenfields exploration targets.

“The multi rig exploration drill program has been designed to test a number of the highest priority targets at the 1.3 million ounce Dalgaranga gold project, confirmation drilling at a number of the inferred resources at the 100 per cent-owned 1 million ounce Glenburgh gold project, along with initial drill tests of a number of regional exploration targets and to follow up previous shallow and high grade gold intersections at the Egerton gold project,” Gascoyne Resources said in its ASX announcement.

“The program, funded from the recently completed capital raising, will take approximately six months to complete.”

 

 

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au

Corazon Mining Strengthens Cobalt Ridge Exploration Model

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has received assay results from the final two holes of a recently completed 18-hole drilling program undertaken on the Cobalt Ridge prospect located within the company’s Mt Gilmore project in New South Wales.

Corazon Mining reported that drill hole MGRCD036, which tested the Main Cobalt Lode, returned results of:

5 metres at 0.53 per cent cobalt, 0.16 per cent copper, 0.08 grams per tonne gold from 224 m.

This intersection was within a broader zone of 42m at 0.11 per cent cobalt.

Corazon claimed the drilling to have highlighted multiple cobalt, copper and gold mineralised trends in what it has interpreted as being a, “long-lived, multiphase alteration and mineralising event”.

The Main Cobalt Lode has been the primary target of the company’s recent drilling and much of the historical drilling.

This lode is up to 25 metres in true width and contains multiple narrow zones of higher-grade mineralisation.

“The results of Corazon’s drilling programs to date have continued to validate and strengthen the company’s exploration model for the project as a potentially significant cobalt-copper-gold development asset,” Corazon Mining said in its ASX announcement.

“Based on the results achieved to date, Corazon will continue to rapidly advance the project.

“The next phase of work will include geophysical and geochemical surveys to test for potential extensions to the project area, as well as the continuation of Corazon’s highly successful metallurgical testwork programs.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

Azure Minerals Extends Oposura Mineralised Zone

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported further near-surface, high-grade zinc and lead drill results from the company’s Oposura project, located in the northern Mexican state of Sonora.

Azure Minerals said the latest high-grade zinc and lead results have extended the mineralisation previously reported at the project.

In 2017, Azure completed its first drilling campaign at Oposura, which entailed 72 diamond drill holes for 4,424 metres, the majority of which were focused on the Oposura East Zone.

2018 drilling has already commenced and is now being undertaken concurrently on both the East and West Zones.

Azure indicated further results are expected to be reported shortly.

The latest round of drill results has extended the high-grade mineralised zone to the south and west of previously reported near-surface, high-grade mineralisation in the East Zone, including:

OPDH-008
16.62 metres at 14.09 per cent zinc and 7.95 per cent lead, including 9.32m at 23.89 per cent zinc and 13.03 per cent lead.

Drill holes OPDH-036, OPDH-023 and OPDH-026 extended this flat-lying, near-surface, high-grade mineralisation approximately 100m to the south of drill hole OPDH-008.

Mineralised intervals include:

OPDH-036
2.05m at 21.33 per cent zinc and 21.23 per cent lead from 37.5m:

OPDH-023
2.9m at 9.68 per cent zinc and 6.45 per cent lead from 18.9m; and

OPDH-026
2.15m at 8.73 per cent zinc and 5.47 per cent lead from 15.2m.

Azure said the mineralisation remains open to the south and west of OPDH-036, OPDH-023 and OPDH-026 and further drilling is planned for this area.

“The latest results from the Oposura East Zone continue to be encouraging, with high grade zinc and lead mineralisation being consistently intersected, confirming the continuity of the near to surface, massive sulphide mineralised horizon,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“While drilling initially focused on the East Zone, drilling is now being conducted concurrently in both the East and West Zones, and results continue to be regularly received.

“The resource drill-out is proceeding smoothly and is on time to be completed in February, enabling a maiden mineral resource estimate to be released by April 2018.

“Further drilling to test possible resource extensions and additional exploration potential is in planning.”

 

Website: www.azureminerals.com.au

Intermin Resources Looks to Consolidate on 2017 Exploration Results

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THE BOURSE WHISPERER: Intermin Resources (ASX: IRC) released an update on exploration activities carried out across the company’s 100 per cent-owned gold projects located near Kalgoorlie-Boulder in Western Australia.

Intermin Resources completed over 26,000 metres of reverse circulation (RC) and diamond drilling during 2017 across eight key project areas on major gold bearing shear zones, including the Teal, Anthill and Blister Dam gold projects.

The company reported high-grade intercepts from the Teal gold camp, including:

26m at 7.8 grams per tonne gold from 48m and 16m at 5.3g/t gold from 86m (Jacques Find);

27m at 4.16g/t gold from 53m (Jacques Find);

8m at 11g/t gold from 53m and 9m at 7.1g/t gold from 89m (Jacques Find);

15m at 5.4g/t gold from 28m and 13m at 5.4g/t gold from 55m (Peyes Farm);

9m at 5.2g/t gold from 82m and 6m at 5g/t gold from 55m (Peyes Farm);

31m at 3.2g/t gold from 64m and 16m at 4.1g/t gold from 73m (Teal); and

11m at 7.8g/t gold from 51m and 15m at 4.2g/t gold from 130m (Teal).

Intermin indicated its focus for Teal in 2018 will be Resource extensions along two parallel strike zones and at depth and detailed metallurgical testwork to determine optimal processing pathways.

High-grade intercepts encountered at the Anthill gold project, included

41m at 2.63g/t gold from 69m and 30m at 2.98g/t gold from 73m;

11m at 3.72g/t gold from 46m and 29m at 1.84g/t gold from 49m; and

17m at 5.3g/t gold from 137m and 6m at 11.15g/t gold from 110m.

This year, Intermin will look for Resource extensions at Anthill in 2018 along strike and at depth while testing for repeat structures to the north at Fire Ant and to the east and west.

A maiden JORC 2012 Mineral Resource for Anthill is expected in the current March Quarter.

At Blister Dam, first pass drilling has been completed with results expected in February.

Intermin picked up a $60,000 EIS Government co-funding grant to drill recently defined induced polarisation targets at Blister Dam in 2018.

The company explained that follow up drilling at the Olympia, Baden Powell, Chadwin and Goongarrie Lady prospect will be completed in 2019 so it can focus on the core projects at Teal, Anthill and Blister Dam.

Preparations well advanced to commence a fully-funded $4 million drilling program in the current March Quarter.

“The past year has been one of significant growth for the company on the back of a highly successful exploration program, the generation of cash flow from the first stages of the Teal mining operation and a number of value accretive acquisitions and joint ventures,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Intermin is now in a strong and quite unique position to be able to self-fund a larger Resource growth drilling program in 2018 with the focus on our key projects at the Teal gold camp, Anthill and Blister Dam with planning at an advanced stage for 50 to 60,000 metres of drilling to commence this Quarter.

“Our shareholders are very supportive of our strategy to grow our resource base above the one million ounce mark with an aggressive drill program and that is our key objective for 2018.

“We have done it before and we’ll be working very hard to do it again in what is a world class gold producing region.”

 

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

Talisman Mining Expands Lachlan Fold Belt Landholding

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Talisman Mining (ASX: TLM) has expanded its landholding in the prospective Lachlan Fold Belt of New South Wales.

Talisman Mining, through a farm-in agreement with private company Bacchus Resources Pty Ltd.

Bacchus is a privately-owned exploration company with a primary focus on the exploration and potential development of the Wollwonga gold project in the Pine Creek Orogeny of the Northern Territory.

Under the terms of the Farm-in Agreement, Talisman has the right to earn up to an 80 per cent interest in six granted exploration licences, covering an area of approximately 1,067 square kilometres held by Bacchus in the Lachlan Fold Belt through on-ground expenditure of $2.3 million over a four-year period.

Talisman will undertake a staged farm-in, involving an expenditure of $1.3 million in the first 36 months from commencement to earn a 51 per cent interest.

Should Talisman elect to continue, it will be required to spend a further $1 million over 12 months to earn an 80 per cent interest.

Talisman has also inked a purchase agreement with Kidman Resources (ASX: KDR), under which it will acquire a 100 per cent interest in the Kidman copper-gold projects.

Kidman’s Crowl Creek project comprises a total of six granted exploration licences covering an area of approximately 278sqkm , which are adjacent to, and west of, the Mineral Hill polymetallic mine.

Crowl Creek covers the same stratigraphic sequence and a parallel structure to the Mineral Hill deposit host structure and is considered prospective for low-sulphidation epithermal and orogenic precious and base-metals mineralisation.

Talisman has entered into an agreement to purchase the Crowl Creek project from Kidman for consideration of $250,000 which becomes payable upon formal renewal, transfer and registration of the tenements from Kidman to Talisman by the NSW Department of Industry Division of Resources and Energy.

The company considers both projects to be complementary and contiguous with its existing 100 per cent-owned NSW exploration tenements and the previously announced Peel Mining (ASX: PEX) Joint Venture where Talisman is earning up to a 75 per cent interest.

“Securing control of these two projects consolidates Talisman’s position in the highly mineralised Lachlan Fold Belt and provides an exciting new front for gold and base metal exploration activities,” Talisman Mining managing director Dan Madden said in the company’s announcement to the Australian Securities Exchange.

“Talisman has secured its large 2,360 square kilometre position for minimal upfront cost and near-term capital commitment.

“The focus of expenditure on the New South Wales projects will be into the ground, with on-ground activities starting in early 2018 and our first drill program anticipated late in the March quarter 2018.

“The Lachlan Fold Belt projects fit neatly alongside the ongoing active exploration program being undertaken at the Springfield Joint Venture in Western Australia where we believe significant upside potential remains.”

 

Website: www.talismanmining.com.au