ABx Group Increases Tasmanian Rare Earth Resources to 89Mt

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THE DRILL SERGEANT: ABx Group (ASX: ABX) released an updated Mineral Resources Estimate (MRE) for the company’s projects in northern Tasmania.

Abx Group, with assistance from consultants, completed an updated resource estimation of the Deep Leads – Rubble Mound and Wind Break rare earth resources located on the outskirts of Launceston.

The estimate is 89 million tonnes averaging 844ppm total rare earth oxides (TREO), from 29 per cent of the mineralised outline being a 70 per cent increase in tonnes and three per cent higher grade than the company’s previous estimate.

“This 70 per cent expansion of our rare earths resource arises from 400 new drillholes and expansion of our mineralised outline by ABx’s proprietary exploration technology,” ABx Group managing director and CEO Mark Cooksey said in the company’s ASX announcement.

“This campaign has enhanced the higher-grade zones that are our top candidates for production studies.

“Because ABx is beginning economic studies, we have introduced a cut-off grade based on the gross value of contained rare earth oxides that allows us to easily vary the in-situ gross dollar value of resource estimates in the higher-grade zones.

“ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar.

“ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Meteoric Resources Strikes Offtake MoU with Neo Performance Materials

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THE BOURSE WHISPERER: Meteoric Resources (ASX: MEI) announced the inking of a non-binding Memorandum of Understanding (MoU) with TSX-listed Neo Performance Materials Inc.

Meteoric Resources struck the MoU for offtake of 3,000 metric tonnes of total rare earth oxide (TREO) per year from the company’s Caldeira project in Minas Gerais, Brazil, to supply Neo’s magnet manufacturing plant.

The MoU provides the framework for the parties to negotiate a binding commercial offtake agreement for the supply of mixed rare earth carbonate (MREC) from the Caldeira project.

Under the terms of the MoU Neo will ultimately be expected to enter into a binding offtake agreement for annual purchases of MREC containing 3,000 million tonnes TREO from Caldeira.

The length of the offtake agreement is expected to extend until Neo has purchased a total of 30,000 million tonnes TREO, with a customary renewal provision for subsequent terms.

“We are very pleased to be bringing this important agreement with Neo to market,” Meteoric Resources CEO Nick Holthouse said in the company’s ASX announcement.

“This represents Meteoric’s first step in our staged offtake strategy, and are delighted to support Neo in their aim to provide high-performance magnetics for automotive, factory automation, high-efficiency motors, residential appliances, and many other industries.

“Connecting and integrating into the developing alternate rare earth materials supply chain signals strong external market confidence in the Caldeira project’s ability to progress to an FID and into production.

“We look forward to working with NEO and having the benefit of their technical support as we continue to pursue and develop our own downstream capabilities and progress to a binding commercial arrangement.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Dreadnought Resources Scores Drilling and Geophysical Grant Double

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) picked up two WA Government Exploration Incentive Scheme (EIS) co-funded grants for drilling at the company’s 100 per cent owned projects in Western Australia.

Dreadnought Resources has been awarded two EIS co-funded drilling grants worth up to $150,000 each for:

RC drilling at the Tiger target part of the Mangaroon gold project; and

An induced polarization geophysical survey at the Tarraji copper-gold project aiming to highlight additional Grant’s Find like copper-gold epithermal targets.

“Dreadnought is pleased to continue to receive recognition and support from the Geological Survey’s EIS co-funded drilling program,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“The program is highly competitive, and the awarding of these grants further recognises the technical merits and potential of Tiger and Tarraji.

“We look forward to commencing these programs and we are already mobilising to Mangaroon Gold.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Impact Minerals Awarded EIS Funding of $180,000 for Drilling at Caligula

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has scored $180,000 under the WA Government’s Exploration Incentive Scheme to co-fund drilling at the company’s 100 per cent-owned Arkun project in Western Australia.

Impact Minerals will use the funds for drilling of the Caligula copper prospect at the Arkun project.

The Caligula prospect comprises a large soil geochemistry anomaly coincident with several conductors identified via helicopter-borne Mobile Magneto-Telluric (MMT) data that the company believes may represent disseminated or massive sulphides.

“This award validates our exploration programs at Arkun over the past few years,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“Caligula is one of many geochemical and geophysical targets we have at the project and so the information we will gain from the proposed drill program will add immensely to our knowledge of this poorly exposed and poorly explored area.

“We will now start the statutory approvals process for the drilling.

“We have just completed our maiden drill programme at Hyperion to test for Rare Earth Elements and are interpreting the handheld XRF data to select samples for assaying, and we are looking forward to those results.”

Impact recently carried out a follow-up infill and extensional soil geochemistry survey to help define the full extent of the Caligula anomaly and help identify specific drill targets.

Caligula is the first of the four areas to be more fully defined by detailed soil geochemistry surveys, producing encouraging results for further work on the other partly tested and untested anomalies within the Arkun project.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Southern Cross Gold Drilling Extends Apollo Deep Gold Mineralisation

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THE DRILL SERGEANT: Southern Cross Gold (ASX: SXG) received assay results from three drillholes recently completed at the company’s 100 per cent-owned Sunday Creek project in Victoria.

Southern Cross Gold drilled the holes on the Apollo prospect, all of which intersected high-grade mineralisation and extended mineralisation beyond the bounds of the company’s current exploration target area as well as defining continuity in other areas.

Hole SDDSC111 was designed to test the hanging wall position of two high-grade vein sets and intercepted seven mineralised structures, three of which are considered high-grade.

Hole SDDSC112 was drilled in the footwall of the mineralised host and was terminated early due to SXG geologists observing the hole was deviating out of the host position to the south into unaltered sediment.

The hole was redrilled as wedge hole SDDSC112W1 that progressed through the host structure with high-grade gold intercepted on the eastern margins of the Apollo prospect.

SDDSC112W1 contained assayed intervals with three zones of visible gold mineralisation.

Combined both holes intercepted eight high-grade structures.

Hole SDDSC116 was drilled parallel to and 45 metres along strike from SDDSC112/112W1 and was designed to intersect the mineralised hanging wall while SDDSC112/112W1 targeted the footwall.

SDDSC116 contained four assayed intervals greater than 10 grams per tonne gold.

“Sunday Creek has delivered another set of extremely strong high-grade gold and antimony drill results, this time from the Apollo project, located 400 metres east of Rising Sun, which has provided most of the intersection highlights in Sunday Creek over the last six months,” Southern Cross Gold managing director Michael Hudson said in the company’s ASX announcement.

“Like Rising Sun, Apollo is now catching up with better results intersected at depth.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Miramar Resources Scores EIS funding for Bangemall Drilling

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THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has picked up funding via Western Australia Government’s Exploration Incentive Scheme (EIS) to drill at the company’s 100 per cent-owned Bangemall projects in the state’s Gascoyne region.

Miramar Resources has been awarded up to $180,000 by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) to be put towards the drilling campaign, which will target Norilsk-style nickel, copper, cobalt and platinum group element mineralisation at the Mount Vernon and Trouble Bore projects.

“Over the last 24 months, the company has advanced the Bangemall projects from an exploration concept to regional-scale area selection followed by collection of project-scale datasets and, more recently, to delineation of individual drill targets through ground EM surveys,” Miramar Resources executive chairman Allan Kelly said in th company’s ASX announcement.

“We have the opportunity to make a discovery of a new style of mineralisation in an underexplored geological province where we are the dominant landholder.”

Upcoming work will focus on Miramar’s initial aim, which is to demonstrate ‘proof of concept’ of its Norilsk-style deposit model by discovering nickel, copper, cobalt and platinum group element sulphide mineralisation.

Upcoming work is to involve completion of heritage surveys where required, systematic rock chip sampling, RC drilling, and working towards grant of various tenement applications.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Yandal Resources Extends Oblique Prospect Mineralisation

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THE DRILL SERGEANT: Yandal Resources (ASX: YRL) reported initial assay results from the first three holes of a reverse circulation (RC) drilling program recently undertaken at the company’s Ironstone Well–Barwidgee (IWB) gold project in Western Australia.

Yandal Resources conducted the drilling across the project’s Oblique and Quarter Moon prospects achieving results confirming the presence of broad and high-grade mineralisation 500 metres north of any previous RC drilling completed by the company.

Intercepts include:

24IWBRC0002
15 metres at 1.7 grams per tonne gold from 74m, including 3m at 5.3g/t gold from 79m; and

24IWBRC0001
3m at 1.5g/t gold from 66m.

Yandal will continue RC drilling across the Oblique and then Quarter Moon prospects from April to early May, after which diamond drilling program is currently scheduled for commencement mid-May.

The company expects the initial diamond drilling across the Oblique prospect will provide detailed information regarding the host stratigraphy, structures, intrusive types and the nature of the magnetite-rich unit.

“It is very satisfying to see a compelling intercept in these early results, particularly given the difficult weather conditions endured by the team in March,” Yandal Resources managing director Tim Kennedy said in the company’s ASX announcement.

“These initial results demonstrate the under-explored nature and potential scale of the Oblique prospect, with a material intercept 500 metres north of any previous RC drilling by the company; we look forward to providing further updates as more results are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Roadhouse Roadshow Brings Melbourne Punters Together

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CONFERENCE CALLER: The Resources Roadhouse presented its inaugural Roadhouse Roadshow this week.

The Roadhouse welcomed punters to the auspicious surrounds of the Kelvin Club in the Melbourne CBD to listen to presentations from four ASX-listed companies.

Encounter Resources (ASX: ENR) executive chairman Wil Robinson provided plenty of food for investment thought giving an insightful look at the company’s large portfolio of 100 per cent-owned projects in one of Australia’s exciting mineral provinces considered prospective for copper and critical minerals including the Aileron project in the West Arunta region of Western Australia.

Encounter Resources executive chairman Wil Robinson presenting to the Kelvin Club throng

Adelong Gold (ASX: ADG) managing director Ian Holland explained how his company is on track to becoming a mineral producer at the company’s Adelong Goldfield project in New South Wales as well as giving a brief look at its new lithium project in Brazil.

Bass Oil (ASX: BAS) managing director Tino Guglielmo steered the room on an oil & gas tack explaining the benefits the company is earning as an oil producer with majority interest in eight permits in the Cooper Basin of Australia that includes the 100 per cent-owned Worrior and Padulla oil fields.

Alto Metals (ASX: AME) managing director Matthew Bowles closed the day’s presentations by enlightening attendees on the company’s aspirations for the shallow, open pit gold resource of 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces across its Sandstone Gold Project in Western Australia.

Punters and presenters alike, left the day with a sense of either having learned something new to think about or having met a new set of prospective investors that showed much interest after the formal part of proceeding was complete.

There will be more Roadhouse Roadshows in the future. Keep an eye out for these as they arise.

Great Boulder Resources Hits High-Grade Intersections at Saltbush Discovery

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) experienced recent exploration results joy from the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources carried out air-core (AC) and reverse circulation (RC) drilling at the Saltbush prospect that defined shallow, high-grade gold mineralisation over a strike length of approx. 300 metres.

Highlights included:

24SWAC184
4 metres at 5.96 grams per tonne gold from 9m, and 6m at 2.37g/t gold from 19m;

24SBRC004
3m at 6.96g/t gold from 91m, including 1m at 16.25g/t gold from 91m;

24SBRC002
12m at 2.16g/t gold from 69m, including 4m at 3.94g/t gold from 75m; and

24SBRC003
3m at 5.25g/t gold from 27m.

“Saltbush is continuing to grow, and after only a small number of holes in two phases of drilling we have defined high-grade gold over 300 metres of strike,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“We have sufficient confidence in this prospect to say it’s the first discovery in all our new targets along the Ironbark Corridor.

“Saltbush appears to be plunging towards the north, a hypothesis supported by the strong surface geochemistry trending towards the northwest.

“Everything we’ve seen so far suggests this zone is an Ironbark analogue, with the mafic host unit within ultramafic country rock and the same geochemistry and alteration.

“In addition to those results, our first-pass AC drilling on broad surface anomalism north of Ironbark has intersected gold grades up to 0.55g/t gold, with anomalous gold results in multiple locations.

“Remember, this is AC drilling within the weathered profile so we’re not expecting ore grades in the first program.

“We are now planning follow-up drilling into all these targets.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Cavalier Resources Commences Drilling at Ella’s Rock Lithium Project

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THE DRILL SERGEANT: Cavalier Resources (ASX: CVR) has mounted its first drilling campaign at the company’s Ella’s Rock lithium-nickel-gold project located in Forrestania, Western Australia.

Cavalier Resources has an initial program of 2,500 metres of aircore drilling planned to test the Fitzgerald and Baché lithium-caesium- tantalum (LCT) targets it has previously identified via geochemical surveys conducted in 2023.

These surveys identified 277 Deep Ground Penetrating Radar (DGPR) targets through a follow-up survey with signals that correlated to those surveyed at the Mt Cattlin lithium project, which had revealed coarse-grained lithium-bearing pegmatites.

“This maiden drill program over the untested Fitzgerald and Baché LCT anomalies marks a major milestone for the Ella’s Rock lithium-nickel-gold project,” Cavalier Resources executive technical director Daniel Tuffin said in the company’s ASX announcement.

“The project, which is located between the world-class Mt Cattlin and Mt Holland lithium projects, has remained largely unexplored due to its remoteness and challenges associated with access.

“This initial campaign is the first step towards drill-testing some of the 277 LCT signals identified by UltraMag via their DGPR survey.

“UltraMag’s findings were promising as the signals not only exhibited correlation with the company’s previous geochemical surveys, but also matched historic signals that led to the discovery of further coarse-grained lithium-bearing pegmatites at the Mt Cattlin lithium project, located 90 kilometres to the south.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE