Flynn Gold Identifies Firetower Strike and Depth Potential

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THE DRILL SERGEANT: Flynn Gold (ASX: FG1) brought market watchers up to date on recent activities at the company’s 100 per cent-owned Firetower project located in northwest Tasmania.

Flynn Gold took receipt of final assay results from a four-hole diamond drilling program undertaken at the Firetower polymetallic (gold-cobalt-tingsten-copper) prospect in December 2023 that entailed extension tails to three historical diamond holes and one new hole drilled.

The company explained the short drill program was designed to test for depth/strike extensions to historically drilled polymetallic mineralisation, and to provide stratigraphic and structural information to assist geological evaluation of controls to high-grade mineralisation.

“The drilling program was successful in testing for depth extensions of the main mineralised zone and providing key geological and structural information which greatly improves our understanding of the controls to high-grade mineralisation at the Firetower project,” Flynn Gold managing director and CEO Neil Marston said in the company’s ASX announcement.

“Our initial review of the project generated depth extension targets that we started testing with an initial four-hole drill program in November 2023.

“Previous drilling at Firetower has been generally shallow across a limited strike length, with very few holes extending beyond 100 metres from the surface.

“Several historic drill holes reportedly ended in mineralisation.

“These early results demonstrate the continuity of polymetallic mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Corazon Mining Divests Miriam Lithium Rights to Future Battery Minerals

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) is to boost its coffers via divestment of the lithium and industrial minerals rights and tenement title for the Miriam nickel sulphide and lithium project in the Eastern Goldfields of Western Australia.

Corazon Mining has struck a sale agreement with Future Battery Minerals (ASX: FBM) that will result in the latter company, through its wholly owned subsidiary Eastern Coolgardie Goldfields Pty Ltd, acquiring 85 per cent of Coolgardie Nickel Pty Ltd, a wholly owned subsidiary of Corazon.

Corazon will utilise the funds received from this sale and the funds previously allocated to drilling at the Miriam lithium anomaly to advance activities at the Lynn Lake nickel-sulphide project in Canada and the Mt Gilmore copper-gold-cobalt project in Australia.

Future Battery Minerals likes the location of the Miriam project as a strategic acquisition that consolidates its landholding in the region being immediately north of the company’s Kangaroo Hills lithium project (KHLP).

“Given our strong belief in the Kangaroo Hills lithium project, this acquisition represents an opportunistic and logical move to further consolidate our landholding in the region,” Future Battery Minerals managing director Nicholas Rathjen said in the company’s ASX announcement.

“The Miriam project offers a highly prospective, drill-ready opportunity.

“This strategic addition is on ground endowed with confirmed outcropping spodumene lithium-bearing pegmatites and we look forward to commencing work at Miriam immediately, conducting detailed target generation with first drilling to commence during Q3 CY24.”

 

 

TO READ THE FULL FUTURE BATTERY ANNOUNCEMENT: CLICK HERE

 

TO READ THE FULL CORAZON ANNOUNCEMENT: CLICK HERE

 

 

Brightstar makes Recommended Takeover Offer for Linden Gold

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THE BOURSE WHISPERER: Brightstar Resources (ASX: BTR) approached Monday with a sunny disposition following the announcement of the impending acquisition of unlisted private company Linden Gold Alliance Limited.

Under the terms of the off-market scrip takeover offer, Linden securityholders are to receive 6.9 Brightstar shares for every one Linden share held and 6.9 Brightstar options for every one Linden option held, equating to an implied offer price of 11.04 cents per share.

Linden is a public unlisted Western Australian gold mining and exploration company, with operations located 220km northeast of Kalgoorlie and 109km south of Laverton.

The company holds a combination of gold producing and near-term producing assets which are nice and close to the processing facility owned by Brightstar in Laverton.

“This is an outstanding transaction for both Brightstar and Linden shareholders and aligns with our strategy of becoming a mid-tier gold producer in the near term,” Brightstar Resources managing director Alex Rovira said in the company’s ASX announcement.

“This combination will create a gold producer and development company with a material resource base, synergistic operations, strengthening in-house operational expertise and a strong balance sheet that will drive development and growth.

“We would like to thank the Linden Board and their major shareholders for their support and note the Board of Linden unanimously recommends this compelling offer in the absence of a superior proposal.”

Linden’s Directors have unanimously recommended shareholders accept the offer, in the absence of a superior proposal.

Major shareholder St Barbara Limited (ASX: SBM) has signed a pre-bid agreement with Brightstar to accept the offer in the absence of a superior proposal.

Brightstar sees the merger with Linden being aligned with its strategy to become a mid-tier gold producer from two of WA’s most prolific regions, Laverton and Menzies.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Matsa Resources Achieves Further High-Grade Gold Assays From Devon Pit Gold Mine

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) reported results from drilling undertaken at the Devon Pit Gold Mine, situated within the company’s Lake Carey gold project south of Laverton in Western Australia.

Matsa Resources has received the final results for a 53 reverse circulation (RC) drill hole program completed in September 2023 at the Devon Pit Gold Mine.

The company declared the drilling results had continued to return strong intercepts, providing support to recent updated studies to recommence open pit mining at the Devon Pit Gold Mine.

Drilling results from the West Lode have again returned consistent high-grade intercepts.

Matsa is progressing permitting as it investigates potential mine design and pit scheduling options that could provide early cash flow.

Permitting applications for development and mining at the Devon Pit Gold Mine have been lodged with several approvals already granted.

“The results of the drilling are pleasing in that they confirm our modelling,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“Having said that, we are hoping these new high-grade intercepts from the West Lode will give us an uplift.

“Whilst the Main Lode was mined as recently as 2016, the West Lode has seen no mining activity since the 1920s where three small shafts were sunk on what appears to be high-grade shoots.

“These shafts are not very deep and with these new drilling results, we’re confident the West Lode will be a significant contributor to the mining operation.

“Importantly, ore from the West Lode is expected from surface.

“Our studies to date have demonstrated a potential mine that produces in excess of 250,000 tonnes at over four grams per tonne which is exciting.

“Earlier this month, Matsa signed a Heads of Agreement with BML Ventures Pty Ltd to formalise a mining contract for the Devon Pit Gold Mine.

“We are expecting this to be signed and sealed in the coming days and I’m very excited about that because it will generate cash flow for Matsa.

“With the recent approval of our dewatering application, we now only have a couple more approvals required before mining can commence and we are expecting these approvals in the coming months.

“The recent rains have delayed the final flora survey planned for late March by a few weeks which is unfortunate.

“This final survey is required for the mining application to be processed and, other than timing of this field work, we don’t see an adverse impact to our schedules.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Venture Minerals Makes Strategic Landholding Acquisition Adjacent to Jupiter REE Discovery

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has acquired what it has described as being a “key landholding” alongside the company’s Jupiter rare earths discovery.

Venture Minerals explained the new tenure is located between the large-scale, clay hosted Jupiter prospect and Venture’s northern tenure, which already hosts healthy rare earth mineralisation only 10 kilometres from the Jupiter discovery.

The company explained the landholding is part of a 361 square kilometres strategic tenement package acquisition that complements the existing tenure and expands the project by 36 per cent and secures the remaining priority clay hosted, rare earth targets within the immediate vicinity of the Jupiter discovery.

“This strategic acquisition strengthens the company’s land position around Jupiter and facilitates unencumbered access across the project,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“It provides a potential extension of high-grade, clay-hosted rare earth mineralisation to the north of Jupiter and secures the remaining priority clay-hosted rare earth targets around the discovery.

“Jupiter is emerging as a major, rare earths discovery that is ideally located between Lynas’ existing plant and Iluka’s planned rare earth processing facilities in the tier one jurisdiction of the Mid-West region Western Australia.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Cygnus Metals Rock Chips Reveal Sakami Project LCT Pegmatite Indicators

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THE DRILL SERGEANT: Cygnus Metals (ASX: CY5) has been encouraged by recent exploration efforts carried out at the company’s Sakami lithium project in James Bay, Quebec.

Cygnus Metals conducted its first exploration program at Sakami entailing collection of 85 pegmatite rockchip samples on wide spaced regional traverses.

Results from this work have identified highly fractionated pegmatites forming a coherent trend over four kilometres of strike which remains open in all directions.

This includes anomalous LCT pegmatite pathfinder results of up to 130ppm tantalum, 154ppm tin and 261ppm caesium alongside favourable K/Rb fractionation ratios as low as 22.

“These are exciting results from Sakami and very similar to fractionation trends we saw at the Auclair project, which resulted in two spodumene-bearing pegmatite discoveries,” Cygnus Metals managing director David Southam said in the company’s ASX announcement.

“It is important to point out that exploration was severely restricted last year at Sakami with the extreme wildfire season and then early snow.

“As such, much of the project remains unexplored with significant potential to make a discovery this season.

“The company remains highly active in James Bay with exploration programs planned for all projects, including our follow up prospecting at Sakami.”

Cygnus Metals plans an active exploration season for James Bay in 2024 and has prioritised follow-up prospecting at the Sakami project on the back of recent efforts and what it considers unexplored potential of the greenstone belt.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Miramar Resources Ground EM Surveys Outline Multiple Bangemall Drill Targets

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THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has identified multiple drill targets at the company’s 100 per cent-owned Mount Vernon and Trouble Bore projects in the Gascoyne region of Western Australia.

Miramar Resources made the identification via ground electromagnetic (EM) surveys comprising a mixture of Fixed Loop (FLTEM) and Moving Loop (MLEM) methods that tested five airborne EM anomalies within the Mount Vernon and Trouble Bore projects.

The company said the survey confirmed and refined each of the airborne EM anomalies and outlined large shallow conductive drill targets consistent with its Norilsk-style nickel-copper-cobalt-PGE deposit model.

“The company is excited about the district-scale opportunity evolving within the Bangemall projects and we look forward to the maiden drilling campaign,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Whilst many nickel producers are under pressure at the moment, mafic intrusion-hosted deposits such as Nova and Nebo Babel can be large and very valuable, due to the mix of metals present, which makes them immune to short-term fluctuations in the nickel price.

“At Mount Vernon and Trouble Bore, we are seeing all the ingredients needed for the formation of this type of deposit.

“We have nickel and copper-bearing dolerite sills intruding into sulphidic sediments, evidence of differentiation, including mafic cumulate rocks, and indications of accumulations of conductive sulphides within and/or beneath the sills.”

Miramar explained its initial aim is to show ‘proof of concept’ of its Norilsk-style deposit model by discovering nickel-copper-cobalt-PGE sulphide mineralisation.

This has been its objective over the past 24 months as it has progressed from regional-scale area selection to collection of project-scale datasets and, more recently, to delineation of individual drill targets.

Upcoming work is to include systematic rock chip sampling and preparation for the initial drilling campaign.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Larvotto Resources Intersects Visible Gold at Hillgrove Project

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THE DRILL SERGEANT: Larvotto Resources (ASX: LRV) got excited by its first diamond drilling program at the company’s newly acquired, 100 per cent-owned Hillgrove gold-antimony project near Armidale in New South Wales.

Larvotto Resources carried out the drilling targeting extensions to the high-grade gold and antimony mineralisation identified in drilling undertaken in 2022.

The company said the new drilling had revealed numerous zones of visible gold in quartz-carbonate breccias and quartz-carbonate veins associated with wider carbonate altered breccias that also hosted visible stibnite mineralisation.

Assay results are not yet available but are anticipated for delivery in early April.

“The diamond drilling program at Bakers Creek was always a priority, aimed at building on the significant high-grade intercepts from drilling undertaken in 2022,” Larvotto Resources managing director Ron Heeks said in the company’s ASX announcement.

“It was pleasing to complete the program so quickly and note numerous instances of visible gold across multiple sections of the drill core.

This suggests the potential to mirror historic high-grade results, such as the 0.45 metres at 257 grams per tonne gold previously reported at Bakers Creek.

“Identifying visible gold in the deeper part of the Hillgrove system helps confirm that it may be geologically similar to the high-grade gold and antimony systems identified at the Costerfield Mine operated by Mandalay and the high-grade gold mineralisation identified by Southern Cross Gold in Central Victoria.

“Larvotto is working to deliver an initial Ore Reserve Estimation at Hillgrove in the near term from its significant Mineral Resources.

“This being at a time of a record AUD gold price and near record antimony price.

“Drill core is currently being cut for assay, with initial results expected in early April and we look forward to moving closer to releasing an initial resource for Bakers Creek mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

New World Resources Hits New High-Grade Drilling Results at Antler

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THE DRILL SERGEANT: New World Resources (ASX: NWC) reported on high-grade assay results achieved via a hydrogeological drilling program completed in late-2023 at the company’s 100 per cent-owned Antler copper deposit in Arizona, USA.

New World Resources explained the hydrogeological drilling was undertaken as part of an ongoing baseline environmental program that is an integral part of the mine permit approval process.

In 2023 New World completed five diamond drill holes and installed six additional groundwater monitoring wells for hydrogeological purposes at the Antler copper deposit.

The drilling went according to plan with four of the five diamond drill holes intersecting the Antler deposit encountering high-grade mineralisation returning assay results of:

ANT0122
33.9 metres (estimated true width [ETW] 17m) at 3.2 per cent copper, 12.4 per cent zinc, 2.6 per cent lead, 85.1 grams per tonne silver and 0.36g/t gold (33.9m at 6.9 per cent copper-equivalent);

ANT0123
3.4m (ETW 2.5m) at 4.6 per cent copper, 7.7 per cent zinc, 1.1 per cent lead, 42.1g/t silver and 0.26g/t gold (3.4m at 6.5 per cent copper-equivalent);

ANT0118
2.2m (ETW 1.7m) at 4.2 per cent copper, 8.0 per cent zinc, 0.3 per cent lead, 33.6g/t silver and 0.17g/t gold (2.2m at 6.0 per cent copper-equivalent); and

ANT0120
6.7m (ETW 4.7m) at 0.8 per cent copper, 2.5 per cent zinc, 0.4 per cent lead, 12.5g/t silver and 0.12g/t gold (6.7m at 1.6 per cent copper-equivalent).

“It is pleasing that the assays received from recent holes, drilled within the current envelope of the resource block model for the Antler deposit, have returned outstanding thicknesses and grades of mineralisation, very much in line with expectations,” New World Resources managing director Mike Haynes said in the company’s ASX announcement.

“While these holes were drilled for hydrogeological purposes, in due course the additional geological and assay data will help us upgrade the confidence level (and classification) of the parts of the Resource that these holes intersected.

“The results reinforce the exceptional grade and endowment of the deposit.

“Those holes are now being used to obtain baseline hydrogeological information that is a crucial component of developing a mine at Antler.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Warriedar Resources Extends High-Grade Gold at Ricciardo

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) reported assay results from drilling undertaken at the Ricciardo deposit within the company’s Golden Range project in the Murchison region of Western Australia.

Warriedar Resources said the have confirmed the presence of high-grade shoots below existing oxide open pits and demonstrates the excellent exploration potential for further discoveries at Ricciardo, which had previously been known as Silverstone.

The company received assay results for thirteen RC holes drilled at the Ricciardo deposit, all of which encountered intervals of gold mineralisation, including:

RDRC019
32 metres at 3.59 grams per tonne gold from 148m, including 1m at 10.85g/t gold from 151m;

RDRC031
11m at 3.43g/t gold from 149m

RDRC022
14m at 1.15g/t gold from 114m; and

RDRC025
3m at 5.61g/t gold from 114m, including 1m at 11.2g/t gold from 114m.

Warriedar is now waiting on assays from a further nine RC holes that it expects to be delivered in the next four weeks.

“We are very pleased with the results from this first batch of assays from the growth-focussed 2024 drilling program at Ricciardo,” Warriedar Resources managing director and CEO Dr Amanda Buckingham said in the company’s ASX announcement.

“The results demonstrate the excellent potential to expand the Mineral Resource at Ricciardo, which has a strike length of 2.3 kilometres with high-grade gold mineralisation occurring at numerous locations along the trend.

“With further assays pending, and follow-up drilling planned to commence from next quarter, we are excited as to what our exploration activities at Ricciardo can deliver for Warriedar this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE