Marenica Energy Drills Koppies Mineralisation

THE DRILL SERGEANT: Marenica Energy (ASX: MEY) announced assay results from a Phase 2 reconnaissance rotary air blast (RAB) drilling program on the company’s Koppies prospecting in Namibia, Africa.

Marenica Energy claimed the Phase 2 RAB drill program has identified exceptional uranium mineralisation at the Koppies tenement, with the best intersections including:

KP055
13 metres at 905ppm uranium from 3m, including 2m at 4,504ppm uranium;

KP045
10m at 687 ppm uranium from 2m, including 2m at 1,974ppm uranium;

KP012
7m at 277ppm uranium from 10m; and

KP047
5m at 194ppm uranium from 5m and 2m at 593ppm uranium from 15m.

Marenica highlighted the interval of 2m at 4,504ppm uranium encountered in hole KP055, saying the direction of the palaeochannel in this area is yet to be established, however, this will be the focus of the next drilling program expected to commence shortly.

“With such fantastic results, the Koppies story continues to develop, with excellent grades achieved from Phase 2 drilling, coupled with the discovery of a new highly mineralised palaeochannel at Koppies 2,” Marenica Energy managing drector Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“We look forward to continuing to advance the project over the coming period with expanded drilling to commence shortly.”

Marenica indicated it intends to complete additional HLEM work within the vicinity of Koppies 1 and 2, with its priority to now confirm the extent of the palaeochannels to guide a Phase 3 drill program.

The company plans to complete the Phase 3 drilling before the end of the calendar year with exploration continuing through 2020 to test the extent of mineralisation on the Koppies exploration permit.

 

Web: www.marenicaenergy.com.au

 

Rox Resources reports Further High-Grade Results from Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Rox Resources’ recent drilling at the Youanmi gold project has intersected more high-grade gold mineralisation.

Results received from Youanmi South and Commonwealth drilling include:

RXRC073
4m at 11.23 grams per tonne gold from 92m; (Youanmi South)

RXRC079
8m at 3.73g/t gold from 60m; and (Commonwealth)

RXRC077
3m at 5.45g/t gold from 87m. (Commonwealth)

The company said that drilling at the Plant Zone has continued to define shallow, potential ‘base load mill feed’ with new results showing continuations to shallow mineralisation including:

RXRC058
8m at 2.62g/t gold from 60m;

RXRC055
9m at 1.04g/t gold from 83m; and

RXRC056
8m at 1.03g/t gold from 44m.

“These results continue to show the excellent potential of the Youanmi belt and the OYG JV in particular and we look forward to presenting further results when they become available,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“Drilling at the Plant Zone prospect, a granite stockwork style of mineralisation now delineated over a 1.4 kilometre strike length, continues to add scale to the overall project gold inventory.”

Rox’s recent drilling has been focussed on the Plant Zone (potentially base load mill feed) and the high-grade Commonwealth prospect.

The company expects to shift its focus onto the Youanmi South prospect following completion of geophysical surveying (drone mag).

The Youanmi South prospect has previously returned some of the best drill intersections of the current drill program.

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

THE DAILY ROADHOUSE

 

Mincor Resources Enhances Cassini Mineral Resource

THE DRILL SERGEANT: Mincor Resources (ASX: MCR) released a healthy increase in the Mineral Resource for the company’s Cassini nickel sulphide deposit at Kambalda in Western Australia.

Lithium Australia Subsidiary Confirms Offtake Deal with Korean Battery Recycler

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced its 24 per cent subsidiary Envirostream Australia Pty Ltd signed a memorandum of understanding (MoU) with South Korean company SungEel HiTech Co., Ltd for the sale of recycled battery metals.

Meteoric Resources Extends Juruena and Claims Porphyry Style Gold‐Copper Discovery

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) received the latest assays from drill holes JUDD009 and JUDD010 that were completed during the maiden drill program at the company’s 100 per cent-owned Juruena gold project in Brazil.

Gateway Mining to Divest Non-Core Edjudina Exploration Project

THE BOURSE WHISPERER: Gateway Mining (ASX: GML) has entered into a tenement sale agreement for the sale of the company’s Edjudina project Exploration Licences in the Laverton Region of Western Australia.

 

Mincor Resources Enhances Cassini Mineral Resource

THE DRILL SERGEANT: Mincor Resources (ASX: MCR) released a healthy increase in the Mineral Resource for the company’s Cassini nickel sulphide deposit at Kambalda in Western Australia.

The updated Cassini Indicated and Inferred Mineral Resource comprises 1.254 million tonnes at 4 per cent nickel.

Mincor Resources said this represents an increase of 12,600 high-grade nickel tonnes.

Of note is that the addition of 269,000 tonnes of ore was delivered at a grade of 4.7 per cent nickel, increasing the average grade of the Mineral Resource from 3.8 per cent nickel to 4 per cent.

The company declared this confirms Cassini as one of the largest and highest-grade nickel deposits in the Kambalda district.

Over 86 per cent of the expanded Mineral Resource is now classified in the higher-confidence Indicated category, and is available for conversion to Ore Reserves.

Mincor’s total Kambalda Mineral Resource inventory now stands at 4.9 million tonnes at 3.8 per cent nickel for 187,900 nickel tonnes, with 84 per cent in the Indicated/Measured category.

The company considers the continued rapid growth in the Cassini Mineral Resource this year in terms of tonnage, grade and quality has vindicated its faith and confidence in the untapped exploration potential of this newly defined district within the Kambalda region.

“From a Maiden Mineral Resource of 18,700 nickel tonnes in August last year, Cassini has grown quickly into a substantial asset for our shareholders, one of the cornerstone deposits of our plan to restart nickel production at Kambalda and the most significant greenfields discovery seen in the district in over two decades,” Mincor Resources managing director David Southam said in the company’s announcement to the Australian Securities Exchange.

“Since our last Mineral Resource update in August 2019, we established a short-term plan to complete a bespoke drill program aimed at upgrading this beachhead resource for inclusion in the Definitive Feasibility Study – and we have more than achieved this outcome in just six drill holes, which is an exceptional return in terms of nickel tonnes by any measure.

“We like to think of it as extremely cost effective ‘nickel banking’.

“The last four drill intercepts in particular have been stand-outs and show that the CS5 surface is becoming both higher grade and thicker the deeper we drill – which bodes well for the future exploration of this and the other parallel channels from the planned underground workings to be established at Cassini.

“With 50,000 nickel tonnes now delineated and drilled from surface, we believe that Cassini displays the same characteristics of all large, long-life orebodies discovered and mined in the Kambalda region.

“What is particularly exciting is that it is the first greenfields discovery in the Kambalda region for decades on a newly identified contact.

“The updated Cassini Mineral Resource will now be incorporated into the ongoing Definitive Feasibility Study for our Nickel Restart Strategy, which we are planning to release in the March quarter next year, along with a Maiden Ore Reserve.”

 

Email: mincor@mincor.com.au

Web: www.mincor.com.au

 

Gateway Mining to Divest Non-Core Edjudina Exploration Project

THE BOURSE WHISPERER: Gateway Mining (ASX: GML) has entered into a tenement sale agreement for the sale of the company’s Edjudina project Exploration Licences in the Laverton Region of Western Australia.

Gateway Mining explained the divestment is part of the company’s strategy of extracting value from its portfolio of non-core exploration assets while maintaining a strong focus on gold exploration and development at its 100 per cent-owned Gidgee gold project.

Through a wholly-owned subsidiary company, Gateway has entered into a conditional tenement sale agreement with Syndicated Metals (ASX: SMD), under which SMD has agreed to acquire an 80 per cent interest in tenements E39/1765, E39/1882, E31/1150 and E31/1134.

The transaction is subject to SMD conducting due diligence in respect of the tenements to its reasonable satisfaction, a condition that must be satisfied or waived by 30 November 2019.

As consideration, SMD will provide Gateway $250,000 that could be paid in up to $200,000 worth of SMD shares.

The deal also involves the grant of a 1.5 per cent gross revenue royalty over the Tenements, payable after the first 200,000 ounces of gold or equivalent mineral product has been recovered.

Gateway’s subsidiary’s remaining 20 per cent interest in the tenements will be free-carried until such a time as a decision to mine is declared, and the parties have agreed to enter into a Joint Venture.

“Syndicated is a well-established ASX-listed explorer with an experienced corporate and technical team with whom we have an existing strong relationship,” Gateway Mining non-executive chairman Trent Franklin said in the company’s announcement to the Australian Securities Exchange.

“The transaction crystallises value, including cash, from the divestment of this non-core project, while preserving exposure for our shareholders to future upside from exploration success through a future production royalty, a free-carried 20 per cent interest and, potentially, shares in Syndicated Metals.”

 

Web: www.gatewaymining.com.au

 

Meteoric Resources Extends Juruena and Claims Porphyry Style Gold‐Copper Discovery

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) received the latest assays from drill holes JUDD009 and JUDD010 that were completed during the maiden drill program at the company’s 100 per cent-owned Juruena gold project in Brazil.

Meteoric Resources claimed the new drill results highlight both a deep high‐grade epithermal gold intercept together with an entirely separate style of porphyry hosted gold‐copper mineralisation, which the company has interpreted to be part of a larger gold‐rich copper porphyry system.

JUDD009 intersected:
1.2 metres at 45.83 grams per tonne gold from 248.9m.

This intersection was achieved at the base of the high‐grade epithermal Dona Maria resource that currently stands at 88,000 ounces gold at 12.7g/t gold.

Meteoric believes JUDD009 confirms high‐grade gold mineralisation at Dona Maria is open at depth and now has deeper drilling planned to extend epithermal gold mineralisation below the high‐grade resource.

Hole JUDD010 intersected a thick zone of gold‐copper mineralisation at the Crentes prospect, immediately adjacent to Dona Maria, returning:

54.3m at 1.33g/t gold and 0.23 per cent copper from 171m, including 12m at 4.54g/t gold and 0.25 per cent copper from 178.5m.

Meteoric declared that the gold‐copper mineralisation encountered at Crentes in JUDD010 raises the potential for additional gold‐rich porphyry discoveries across the entire Juruena project.

A further hole, JUDD011 also intersected the up‐dip extension of the gold-copper porphyry mineralisation intersected in JUDD010 at Crentes with assays pending at time of writing.

The company has mobilised a second drill rig to Novo Astro, with first assay results due in late November.

“I couldn’t be happier to report that JUDD009 has confirmed high‐grade gold mineralisation at Dona Maria is open at depth, as our structural models suggested,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“This hole intersected high‐grade gold at the base of the current resource, deeper than any historic drilling and has allowed us to plan follow‐up deep drilling that if successful could significantly increasing this resource.

“The gold‐copper mineralisation in JUDD010 and JUDD011 (awaiting assays) is incredibly exciting and builds on our belief that the high‐grade prospects like Dona Maria and Querosene are epithermal gold deposits related to a proximal porphyry gold-copper system.

“This intercept opens a new and exciting exploration opportunity for Meteoric and the geology team are working hard to understand the real potential of this gold-copper mineralisation before planning further drilling, with the high‐grade gold lodes remaining the focus of drilling for the completion of this program at Juruena.

“Novo Astro exploration is ongoing and drilling will now ramp up with a second GEOSOL rig having mobilised to the project and first assay results expected in late November.”

 

Web: www.meteoric.com.au

 

Lithium Australia Subsidiary Confirms Offtake Deal with Korean Battery Recycler

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced its 24 per cent subsidiary Envirostream Australia Pty Ltd signed a memorandum of understanding (MoU) with South Korean company SungEel HiTech Co., Ltd for the sale of recycled battery metals.

Lithium Australia explained the Envirostream/SungEel MoU involves the exclusive supply of metals extracted from recycled lithium-ion batteries (LIBs) out of Australia.

That supply comprises mixed metal dust (MMD) that contains the energy metals cobalt, nickel and lithium that are recovered from spent LIBs at Envirostream’s battery recycling plant in Melbourne.

Currently, Envirostream is the only Australian company able to recycle all the energy metals from spent LIBs.

Envirostream will recommence shipments of MMD this month, following a recent expansion of the company’s recycling facilities.

Under the new deal, SungEel has agreed that Envirostream will have exclusivity of MMD supply from Australia.

Envirostream will now increase its MMD shipments to SungEel, for refining into cobalt, nickel and lithium chemicals for the production of new LIBs.

“Lithium Australia is working with Envirostream to roll out the latter’s Australia-wide collection network and expand its shredding and separation capacities as rapidly as possible,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The MoU with SungEel provides for immediate refining of the MMD that Envirostream produces.

“It is expected that Envirostream’s next MMD shipment to SungEel will take place this month.

“Expanding Envirostream’s processing capacity to keep spent LIBs from landfill and export the energy metals they contain is an Australian imperative.

“Closing the loop on the production of battery materials reduces the environmental footprint of the mining and processing aspects inherent in LIB production, improves sustainability and prevents the components of spent LIBs from leaking into groundwater and oceans as a consequence of their relegation to landfill or transport to other jurisdictions.

“Together, Lithium Australia, Envirostream and SungEel can provide an immediate and viable solution to the LIB disposal crisis in this country.”

SungEel recovers critical energy metals from LIB scrap, has become not only South Korea’s largest battery recyclers, but is also a global leader in the development of environmentally sustainable technologies.

Envirostream is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of spent LIBs, which Lithium Australia considers makes it a perfect fit with its recycling expertise.

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

THE DAILY ROADHOUSE

 

Hillgrove Resources Amends Kavanagh Estimate

THE DRILL SERGEANT: Hillgrove Resources owned up to an error the company made in its recent announcement regarding the maiden Underground Mineral Resource Estimate for the Central and East Kavanagh underground area at the company’s Kanmantoo copper mine in South Australia.

 

Hillgrove Resources Amends Kavanagh Estimate

THE DRILL SERGEANT: Hillgrove Resources owned up to an error the company made in its recent announcement regarding the maiden Underground Mineral Resource Estimate for the Central and East Kavanagh underground area at the company’s Kanmantoo copper mine in South Australia.

Hillgrove Resources acknowledged that dot point 2 on page 1 of its ASX release of 30 October 2019 is not in accordance with the JORC Code, whereby the reporting of Exploration Targets cannot be streamlined.

As a result, the company was required to re-iterate the Competent Person Statement and the Exploration Target as a range of tonnes and grade as previously provided in its ASX release of 27 May 2017 for the West Kavanagh Exploration Target of:

0.8 to 1.6 million tonnes at 2 per cent to 2.5 per cent copper, 0.01 grams per tonne to 0.05g/t gold, 2g/t to 2.5g/t silver.

The company stressed the Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource, adding that it is uncertain if further exploration will result in the determination of a Mineral Resource under the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code” (JORC 2012).

The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.

 

Web: www.hillgroveresources.com.au

 

THE DAILY ROADHOUSE

 

Stavely Minerals Continues Thursday’s Gossan Growth

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported further news from the shallow, high-grade copper-gold discovery at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Calidus Resources Hits More Gold in Planned Klondyke Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported a further batch of high-grade RC drilling results from the company’s Warrawoona gold project in the Pilbara of Western Australia.

Independence Group Makes Take-Over Bid for Panoramic Resources

THE BOURSE WHISPERER: Independence Group (ASX: IGO) rattled the boards of the ASX by announcing its intention to make an off-market takeover offer to acquire all of the ordinary shares of Panoramic Resources (ASX: PAN) it does not already own.

Galileo Mining Confirms Fraser Range Nickel Target

THE DRILL SERGEANT: Galileo Mining (ASX: GAL) recently completed aircore drilling at the company’s Lantern prospect, within the Fraser Range nickel belt of Western Australia.

Rox Resources Hits Healthy Gold Intersections at Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL) released results of an air core drilling program undertaken at the company’s VMC Joint Venture, located north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects in Western Australia.