Great Boulder Resources Increases Side Well Mineral Resource

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) released an updated Mineral Resource Estimate (MRE) for the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources reported the MRE to have substantially increased for the Mulga Bill and Ironbark deposits at Side Well, upping the total resource by 29 per cent, coming in at 1.45 million tonnes at 2.8 grams per tonne gold for 668,000 ounces of gold.

The MRE ross the Mulga Bill and Ironbark deposits that have been estimated at 6.5Mt at 2.7g/ gold for 568,000 ounces and 938,000 tonnes at 3.3g/t gold for 100,000 ounces respectively.

Mulga Bill North, where Great Boulder has had some drilling success of late, has not been included in this resource estimate.

The company noted that despite recent success at the 700m-long prospect there is still insufficient drilling to define an Inferred mineral resource, although it remains a target for ongoing drilling and subsequent resource estimation during 2024.

“This is an important step for Great Boulder, with a significant increase in contained ounces at Mulga Bill and Ironbark as well as the conversion of a large proportion of both deposits from the Inferred to Indicated JORC category,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“That means both deposits are defined with sufficient confidence to commence economic studies once the current inflationary cycle peaks and we can confidently predict future cost inputs.

“All our infill drilling at Mulga Bill this year has confirmed the geological model we used for the initial resource, which reflects the excellent technical work involved in understanding this exceptional orebody.

“Side Well sets itself apart as a shallow, high-grade greenfields deposit on the outskirts of an historic, operating gold field, which is almost unprecedented in the junior gold sector.

“We are now looking forward to commencing the first exploration on new targets within the Ironbark Corridor, starting with Saltbush.

“This is another important step towards our goal of defining the first of what could be several million ounces of gold in resource at Side Well.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

True North Copper Intersects Big Copper Hit at Vero

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THE DRILL SERGEANT: True North Copper (ASX: TNC) turned on the superlative dictionary to report recent drilling activity at the company’s 100 per cent-owned Mt Oxide project near Mount Isa, Queensland.

True North Copper reported its latest assay results as “phenomenal” from drillhole MOXD225, drilled as part of an initial Vero Resource drilling program.

Results included:

MOXD225, which intercepted two wide intervals of high-grade copper mineralisation.

26.2 metres (16.48m estimated true width [ETW]) at 4.45 per cent copper, 42.9 grams per tonne silver and 1,964ppm cobalt from 258.8m, including 10.9m (6.87m ETW) at 7.32 per cent copper, 72.2g/t silver and 2,915ppm cobalt from 265.50m, and

46.6m (34.02m ETW) at 2.18 per cent copper, 26.3g/t silver and 487ppm cobalt from 352.5m, including 4.2m (3.07m ETW) at 11.15 per cent copper, 129.5g/t silver and 135ppm cobalt from 352.5m; and

MOXD223, which intercepted strong pyrite mineralisation with chalcopyrite and chalcocite

4.2m (3.02m ETW) at 2.72 per cent copper, 32.4g/t silver and 173ppm cobalt from 231.25m, and
6.5m (4.68m ETW) at 1.4 per cent copper, 13.4g/t silver and 62ppm cobalt from 364.5m.

“We are thrilled to share these outstanding results from our recent Vero drilling program,” True North Copper managing director Marty Costello said in the company’s ASX announcement.

“The intersections in MOXD225 reveal remarkably high-grade copper and cobalt lenses, with two intersections impressively both returning over 100 Cu% m (downhole width by copper grade).

“We are in the process of constructing a new geological model that will inform Vero Resource re-estimation and advance ongoing mining studies.

“Metallurgical sampling and test program design is also progressing as we continue to maximise the Mt Oxide project’s highly prospective potential.

“Assay results continue to confirm the Vero Resource’s phenomenal mineralisation.

“However, we are also committed to strategic exploration across the entire Mt Oxide project and identifying other high-grade copper, cobalt and silver deposits.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Cooper Metals Intercepts More Gold at Brumby Ridge Prospect

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THE DRILL SERGEANT: Cooper Metals (ASX: CPM) kept the news flowing by reporting assay results from the Brumby Ridge and Raven copper-gold prospects at the company’s Mt Isa East copper-gold project.

Cooper Metals latest results follow earlier hits from initial RC drill hole 23MERC024 that intercepted 50 metres at 1.32 per cent copper from 80m, including 2m at 6.1 per cent copper and 0.23 grams per tonne gold at the Brumby Ridge prospect, which was the best assayed drill intercept achieved at the Mt Isa East project to date.

Shooting a portable XRF at follow up drilling at Brumby Ridge, which commenced last week, has revealed a strong intercepted hosted in strongly altered iron oxide copper-gold brecciated mafic volcanics.

Drilling at the Raven prospect intersected mineralisation, including:

23MERC019
15 metres at 1 per cent copper and 0.1 grams per tonne gold from 35m within a wider intercept of 28m at 0.63 per cent copper and 0.061g/t gold from 34m.

This results also built on previous results.

“To say we are pleased with the results of the initial scout drilling on five copper-gold prospects is an understatement,” Cooper Metals managing director Ian Warland said in the company’s ASX announcement.

“The Brumby Ridge drill intercept is the single strongest mineralised intercept drilled by Cooper Metals in the last two years.

“Raven continues to expand with another great intercept into a home-grown conceptual target.

“These two prospects are now the company’s main focus and are being followed up as we speak, as Cooper continues to test its pipeline of quality copper-gold prospects in the region.

“This cluster of prospects, including Mafic Sweats South, are only around 30 kilometres to the southeast of Mt Isa, close to infrastructure and worthy of further priority investigation and exploration by Cooper.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

TG Metals Expands Lake Johnston Lithium Soil Anomaly

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THE DRILL SERGEANT: TG Metals (ASX: TG6) talked its way out of a speeding ticket from the ASX by providing an update on lithium exploration activities at the company’s Lake Johnston lithium-nickel-gold project in Western Australia.

TG Metals informed the market of having conducted infill and extensional soil sampling (400m x 50m spacing) over the area immediately east of the company’s recent spodumene rich pegmatite discovery at Burmeister.

The company said the results from the sampling defined a new area of lithium in soils anomalism, which has been identified as the Jaegermeister prospect that is larger in scale than the Burmeister soil anomaly.

“Since the discovery of the spodumene pegmatites at Burmeister, the deposit models we have been considering have been based on the Earl Grey lithium mine area,” TG Metals CEO David Selfe said in the company’s ASX announcement.

“With this in mind, the lithologies at Jaegermeister, were always going to be a target.

“The current drilling at Burmeister, targeting up dip, down dip and along strike of the known high-grade lithium pegmatites, will provide knowledge we can apply to the Jaegermeister area and provides us with another quality drill target for early 2024.

“We are eagerly anticipating the next drilling results from Burmeister which we expect assays back in the next 2 weeks.”

TG Metals indicated further soil sampling to infill and test extensions to the Jaegermeister anomaly is to be carried out over the coming weeks and drill testing will be designed as a first pass over the defined high tenor lithium contours.

The company is continuing Phase 2 RC drilling at the Burmeister lithium discovery with samples to be dispatched to the laboratory regularly with a diamond drill rig is deployed as required for drill hole extensions.

Aboriginal heritage surveys will be conducted over proposed drill lines as they are designed and targeted flora and fauna surveys will be completed in conjunction with a Program of Work (POW) to be submitted for the proposed drilling program.

Full approvals are expected in Q1 2024.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Hillgrove Resources Confirms Kanmantoo Underground Drilling Results

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THE DRILL SERGEANT: Hillgrove Resources (ASX: HGO) reported on recent drilling activity undertaken at the company’s Kanmantoo Mine Lease southeast of Adelaide in South Australia.

Hillgrove Resources carried out underground diamond drilling to map the grade continuity of the main Kavanagh mineral system, which has returned results within the underground mining footprint.

The underground diamond drilling commenced in May 2022 from the Exploration Decline for 12 holes, and then re-commenced in July in 2023 as production activities started.

In total, Hillgrove completed 96 UG drill holes completed by 1 October 2023 for more than 10,000 metres of drilling.

The latest results include:

23KVUG064
36.6 metres at 3.35 per cent copper (uncut) from 43m downhole in East Kavanagh, including 2.1m at 24.76 per cent copper (uncut) from 53m downhole;

23KVUG072
40m at 1.27 per cent copper (uncut) from 91m downhole in Central Kavanagh; and

23KVUG083
33.23m at 1.46 per cent copper (uncut) from 42m downhole in East Kavanagh.

Hillgrove interpreted the infill underground diamond drilling results to have demonstrated exploration drilling results previously reported for the Kavanagh and Spitfire mineral zones are being confirmed.

“It is always pleasing to see trays full of high-grade drill core, such as this run of 36.6 metres at 3.35 per cent copper,” Hillgrove Resources CEO and managing director Lachlan Wallace said in the company’s ASX announcement.

“The infill drilling increases the geological data density, enabling individual stope designs to be completed as we prepare for the commencement of copper production early next year.

“The geological reconciliation of the early stopes which are relied upon for first revenues remain the priority target for infill drilling.

“These areas will be drilled as the decline advances and additional underground drill platforms are established.

“Additional drilling capacity has been mobilised to accelerate the drilling information from the early stopes as drill locations become available.

“The additional drilling capacity is also following up on the recent step out hole at Spitfire, which recorded 45.4 metres at 1.19 per cent copper and 0.12 grams per tonne gold.

“This intersection was more than 100 metres away from the nearest hole, providing an opportunity for increased mineral resources in this area with further drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Saturn Metals Intersects High-Grade and Visible Gold at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported new results from drilling recently undertaken at the company’s Apollo Hill gold project in Western Australia.

Saturn Metals explained the assay results returned from two diamond drill holes that were originally drilled for geotechnical purposes have also:

• provided further definition around some of the deposit’s higher-grade architecture;
• highlighted the potential for positive reconciliation in an area of the current Measured Mineral Resource (potential for localised improvements in grade); and
• further highlighted the potential for higher grade ores at surface across the deposit.

High grade and thick intersections returned from near surface include:

AHDD0018
16.6 metres at 14.5 grams per tonne gold from 11m, including 11.1m at 21.55g/t gold from 16.1m, including 4.7m at 49.25g/t gold from 17.4 m; and

AHDD0017
18.6m at 0.9g/t gold from SURFACE, including 11m at 1.33g/t gold from 2m.

“Results from infill drilling are consistently showing strong intersections and pockets of higher-grade within the deposit,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“As we continue to progress Apollo Hill project through its development studies towards production we also look forward to additional results from this year’s planned exploration and Resource development drill programs.”

Saturn indicated the assay results achieved from this program will ultimately be used in future upgrades to Apollo Hill’s current Mineral Resource Estimate of 105 million tonnes at 0.54 grams per tonne gold for 1.84 million ounces.

The next upgrade is due after additional drilling planned for 2023/24.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Estrella Resources Claims Pegmatite Field Discovery at Carr Boyd East

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THE DRILL SERGEANT: Estrella Resources (ASX: ESR) has claimed discovery of a large field of stacked, fractionating pegmatites in the Eastern tenements of the company’s Carr Boyd project, located outside Kalgoorlie in Western Australia.

Estrella Resources said it has so far observed the pegmatites up to 16m in width and that they can be traced across the surface for a few hundred metres before being obscured by alluvial sediments that cross much of the area.

“The discovery of a significant field of stacked, fractionating pegmatites in the Eastern tenements at Carr Boyd is encouraging and, while its early days, it further highlights the project’s LCT potential,” Estrella Resources managing director Chris Daws said in the company’s ASX announcement.

“Coupled with the additional pegmatite system recently located within the Western tenements, this bodes well for the upcoming work program consisting of mapping and sampling currently underway across the tenements.

“This will be followed by targeted soil sampling program to guide further exploration.

“With this further work we hope to gain a strong understanding of the lithium prospectivity which may eventually lead to generation of lithium targets for drilling.

“Estrella’s lithium work enhances the company’s potential to make a significant discovery while imposing only minor costs, allowing us to simultaneously maintain our primary focus of unlocking further nickel sulphides at Carr Boyd.

“I look forward to further updating shareholders as we progress with this work program.”

Estrella has already commenced a more complete mapping and sampling program across the tenements with a targeted soil sampling program set to follow to guide further exploration.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Impact Minerals Releases ‘Positive’ Lake Hope Scoping Study

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THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) released, what it declared as being, “positive results” of a Scoping Study for the company’s Lake Hope high purity alumina (HPA) project in Western Australia.

Impact Minerals explained the Scoping Study had been carried out, “based on realistic production and capital expenditure estimates”.

The Lake Hope project contains a substantial alumina (Al2O3) resource, which the company believes could become a major global supplier of HPA due to the unique nature of the deposit that allows very cost-effective mining and processing.

By combining the Scoping Study results with other published data, Impact come to believe the Lake Hope project could be one of, if not the lowest-cost producer of HPA globally, possibly by a healthy margin of up to 50 per cent.

“This Scoping Study demonstrates the world-class potential of the Lake Hope project and supports what we first thought was possible when we came across it and the work already done by Roland Gotthard and the Playa One team,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“If you are playing in the industrial minerals space, at least one of four things has to be true about your mine otherwise you will not make it through the market cycle: the deposit has to be either the biggest, have the highest grade, be the first to market or, preferably, be the lowest cost producer.

“The unique characteristics of the Lake Hope deposit, both in terms of mining and processing, look like they could possibly deliver HPA at the lowest cost globally by a significant margin.

“Even though we are only at the Scoping Study stage, with all its inherent uncertainties, the financial model demonstrates the world-class economics of the project, which has an NPV of more than $1 billion, very large operating margins and significant after-tax earnings of $174 million per year.

“The ability to deliver sub-US$4,000 per tonne HPA is an extraordinary competitive advantage that Impact will continue to leverage in the current Preliminary Feasibility Study, due for completion in 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Venture Minerals Defines New REE Target at Brothers

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) announced the identification of a new large REE target within the company’s Brothers rare earths elements project in Western Australia.

Venture Minerals has defined, what has been named, the Jupiter prospect as a coincident gravity and magnetic anomaly extending over 40 square kilometres that hosts extensive REE rich clays.

The company has carried out reconnaissance aircore drilling that has shown a strong correlation between the magnetic/gravity highs and the broad widths of near-surface, high-grade total rare earth oxide (TREO) results.

Venture believes there to be potential to deliver a substantial resource from these results and has follow up drilling in train to commence shortly.

The company also received the first batch of one metre split samples from a previously announced reconnaissance Air Core drilling program, including one metre splits for drill hole BRAC036 from the Jupiter target, which it has interpreted to confirm the high tenor and thickness of the clay hosted REE mineralisation at the Jupiter target.

The Brothers project is approx. 250kms from Iluka’s Eneabba Rare Earths Refinery, which aspires to be in production in 2025 and approx. 520kms from Lynas Rare Earths currently operating Mount Weld Concentrator.

“The recent exploration work at Jupiter suggests that Venture has the makings of an exceptional Rare Earths project, capable of delivering a large scale, high-grade, clay hosted rare earth resource in a short period of time,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“Being located in Western Australia, with excellent access to infrastructure as well as existing and planned rare earth processing facilities are additional benefits.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Southern Cross Gold Drills More Big Gold Hits at Sunday Creek

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THE DRILL SERGEANT: Southern Cross Gold (ASX: SXG) announced further bonanza grades from the company’s 100 per cent-owned Sunday Creek project in Victoria.

Southern Cross Gold’s latest results come from drill hole SDDSC091 drilled at the Rising Sun prospect, which the company explained has been drilled to target one vein set, RS50, in a NE to SW drill orientation unlike recent west to east drill orientations that had targeted multiple veins.

Results included:

SDDSC091
20 metres (estimated true width 11.6 m) at 63.6 grams per tonne gold equivalent (AuEq) (62.7g/t gold, 0.5 per cent antimony) from 430m, including:
0.4 m at 955.6g/t AuEq (950g/t gold, 3.6 per cent antimony) from 438.4m
0.5m at 1,497.4g/t AuEq (1,490g/t gold, 4.7 per cent antimony) from 438.8m, and
0.6m at 66.5g/t AuEq (65.4g/t gold, 0.7 per cent antimony) from 439.6m.

Southern Cross Gold managing director Michael Hudson said in the company’s ASX announcement.
“Sunday Creek delivers yet again with the second-best individual intersection on the project of 20m at 63.6g/t AuEq (62.7g/t gold, 0.5 per cent antimony) from 430m.

“The hole was significant as it was drilled from the NE to SW to target the RS50 vein set alone, in a scissored orientation to drillholes SDDSC077B and SDDSC082.

“Further drilling continues to highlight the significance of the Sunday Creek discovery, with extremely high grades observed across the project, within multiple veins sets (up to 23 defined to date with more being found), with continuity in individual named vein sets now established over +500m from surface to depth.

“We look forward to seeing the project continue to develop with SXG holding $11.8 million cash as of last quarter, with four drill rigs currently operating and 19 kilometres of drilling planned from now through to April 2024, with many holes still in the laboratory.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE