Meeka Metals Reports Initial High-Grade Oxide Mineral Resource at St Anne’s

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THE DRILL SERGEANT: Meeka Metals (ASX: MEK) has reported an initial open pit constrained Mineral Resource for the St Anne’s deposit, part of the company’s 100 per cent-owned Murchison gold project in the lead up to the RIU Resources Roundup in Sydney next week.

Meeka Metals has taken the Mineral Resource Estimate (MRE) for the Murchison gold project to 12.7 million tonnes at three grams per tonne gold for 1.215 million ounces on the back of the newly reported initial open pit constrained oxide Mineral Resource of 270,000 tonnes at 2.8g/t gold for 25,000 ounces.

The company describes St Anne’s as a shallow, high-grade deposit with no prior mining where it has reported initial MRE from surface to a depth of approx. 90m.

The deposit has a strike length of 550m and remains open to the south and at depth presenting potential for an underground Mineral Resource to be reported below the open pit with further drilling.

“Over the 6 months to December 2022, drilling identified shallow, high-grade oxide gold at St Anne’s and we quickly moved to determine a high-confidence Indicated Mineral Resource,” Meeka Metals managing director Tim Davidson said in the company’s ASX announcement.

“This decision was strategic, given we knew shallow high-grade oxide material would be a valuable addition to our upcoming Pre-feasibility Study.

“The open pit optimisation constraining the Mineral Resource reflects current mining costs and provides immediate input into our Pre-feasibility Study.

“This approach ensures a conservative and valuable addition to our Mineral Resource is reported for St Anne’s.

“St Anne’s remains open to the south and at depth, and it is likely that with further drilling an underground Mineral Resource will be reported.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Meteoric Resources Releases Caldeira REE Project Maiden Mineral Resource

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) reported its maiden Mineral Resource Estimate (MRE) for the company’s Caldeira REE project in Minas Gerais Brazil.

Meteoric Resources delivered the MRE at a 1000ppm TREO cut-off at 409 million tonnes at 2,626ppm total rare earth oxide (TREO) and contains Magnet REO grades of 631ppm comprising 24 per cent of TREO.

The company explained the MRE comes from just 24 per cent of the Caldeira REE project area, and only 20 per cent of the combined area in the company’s proposed acquisition it announced in late April.

An expanded diamond drilling program is currently testing depth extensions of the clay zone below the maiden resource model.

“What a beautiful set of numbers, this is indeed a world class, Tier 1 project,” Meteoric Resources executive chairman Dr Andrew Tunks said in the company’s ASX announcement.

“Since first encountering the Caldeira REE project in October 2022, we have come a long way in our understanding of the geology and the distribution of rare earth mineralisation within the clay zone of the regolith profile.

“Our maiden Mineral Resource Estimate marks another major milestone for Meteoric Resources and a crucial component of our plans to develop this project.

“There are several key take aways from today’s MRE announcement: First is the enormous size of the resource.

“Over four hundred million tonnes have been defined in our maiden resource, yet less than twenty percent of the holding has been drilled with an average hole depth of 6.9 metres and 85 per cent of holes terminating in grades above 1,000ppm TREO.

“The second key point to note is the remarkable grade, for a true IONIC Clay Rare Earth project, the high-grade resource above a cut off 3,000ppm equates to 115 million tonnes at a grade of 4,072ppm TRE.

“This is literally off the charts and makes this the highest-grade deposit yet discovered globally.

“A quick analysis of the grade tonnage curve and block-model maps and sections will show that within drilled areas there are several large ultra high-grade zones.

“These zones of exceptional TREO grades are the immediate focus of our exploration and development teams.

“We will soon commence a 100,000 metres drilling program, designed to convert portions of todays inferred resource into higher confidence categories of Measured and Indicated Resources.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Green Technology Metals Encounters High-Grade Lithium at Root Bay

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THE DRILL SERGEANT: Green Technology Metals (ASX: GT1) reported lithium assay results from the Root Bay and Morrison prospects within the company’s 100 per cent-owned Root project, located just to the west of its Seymour project in Ontario, Canada.

Green Technology Metals said the drilling at the Root Bay prospect is revealing a multiple, shallow-dipping LCT pegmatite system up to 18m thick, encountering lithium grades up to 1.73 per cent lithium oxide (Li2O).

Highlights from a further 13 diamond holes have been received, returning results that include:

RB-23-088
17.8 metres at 1.73 per cent Li2O from 99.4m;

RB-23-085
16.0m at 1.58 per cent Li2O from 181.4m; and

RB-23-091
14.3m at 1.52 per cent Li2O from 33.1m.

The company completed Phase 2 diamond drilling at Morrison, receiving assays from a further 15 diamond holes with highlights including:

RB-23-347
7.63m at 1.64 per cent Li2O from 81m;

RB-23-362
5.46m at 1.21 per cent Li2O from 44m; and

RB-23-366
7.58m at 0.72 per cent Li2O from 94m including 3.0m at 1.64 per cent Li2O from 95m.

Green Technology Metals indicated a large-scale field exploration program consisting of prospecting, mapping and sampling is about to commence over the Root project to identify additional new drill targets.

“We are very pleased with the pegmatite intercepts and high-grade lithium results received from Root Bay and are eagerly awaiting further assay results to determine the size of the potential maiden resource at the Root Bay prospect,” Green Technology Metals chief executive officer Luke Cox said in the company’s ASX announcement.

“Our drilling and exploration focus is now centred on the 20 kilometres long Root Bay lithium corridor, and we are excited to be undertaking extensive exploration activities over this highly prospective area to add to our current 14.4 million tonnes JORC Resource base.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Galan Lithium Increases HMW Project Resources

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced a further consolidating increase to the JORC 2012-compliant reported Mineral Resource estimate for the company’s Hombre Muerto West project (HMW Project) located in Catamarca Province, Argentina.

This is Galan’s fourth upgrade for the project that has again increased the global JORC Resource inventory as well as elevating the JORC Resource category and confidence in the HMW Resource inventory.

The company said the latest resource upgrade enhanced its objective to achieve the conditions necessary to commence construction and commercial production at HMW in the shortest practical timeframe.

The HMW Measured Mineral Resource now exceeds 4.7 million tonnes of contained lithium carbonate equivalent (LCE) product grading 873mg/L lithium.

The total HMW Mineral Resource (Measured + Indicated + Inferred) has increased by approximately 14 per cent to now sit at over 6.6 million tonnes of contained LCE grading at 880mg/L lithium.

“This latest increase in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan’s 100 per cent owned tenements in Argentina,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“We have continued to acquire tenements and continued to drill holes since our maiden resource was announced at HMW.

“The initial HMW resource in March 2020 was 1.08 million tonnes at 946Mg/L lithium.

“This now sits at a world class size of 6.6 million tonnes contained LCE at 880mg/l lithium.

“Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly confidence, that its Hombre Muerto Salar resources fully support its four-stage lithium production target of up to 60,000 tonnes per annum LCE.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Warriedar Resources Drills High-Grade Rothschild Gold Extension

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) reported assay results from the first four holes drilled at the Rothschild prospect, part of an ongoing Reverse Circulation (RC) drilling program at the company’s Fields Find project in the Murchison province of Western Australia.

Warriedar Resources recently completed the Rothschild drilling program that was designed to test the scale potential of the existing deposit including depth extensions, repeat parallel lodes and satellite lodes.

The company said results demonstrate the targeted depth extension to this deposit with multiple parallel lodes and evidence that the high-grade core is potentially sustained with depth.

Key returned intervals include:

BRRC081
11 metres at 3.39 grams per tonne gold from 197m;

BRRC078
9m at 1.85g/t gold from 150m; and

BRRC079
10m at 1.63g/t gold from 202m, including 3m at 3.12g/t gold.

“The Rothschild prospect was selected as the first area to drill within the Fields Find project given that the existing deposit lies on a Mining Lease and the historic drilling data demonstrated gold mineralisation extending along strike for up to one kilometre,” Warriedar Resources explained in its ASX announcement.

“The high-grade core of the mineralisation also appeared to remain open both at depth and along strike.

“This drilling…represents the first major exploration program to explore for primary gold mineralisation at Rothschild in over seven years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Platina Resources Sells Scandium Project to Rio Tinto for up to US$14 million

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THE BOURSE WHISPERER: Platina Resources (ASX: PGM) is set to bank up to US$14 million (approx. A$21 million) in cash from the sale of the company’s wholly-owned Platina scandium project after signing a binding sale agreement with a subsidiary of Rio Tinto (ASX: RIO).

Platina Resources’ Scandium project hosts one of the largest and highest-grade scandium deposits in the world and has the potential to be Australia’s first scandium producer of scandium oxide over a 30-year mine life.

The company views the sale of the scandium project to finalise its transitioning away from platinum and speciality metal projects allowing it to focusing on gold projects.

Platina said the sale unlocks value in the project where it has made a considerable investment advancing the project through exploration to the Definitive Feasibility Study stage.

“The transaction with Rio Tinto is congruent with Platina’s strategy of advancing projects along the value chain and monetising when a new combination of technical, market or financial capability is required,” Platina Resources managing director Corey Nolan said in the company’s ASX announcement.

“This enables projects to achieve optimal scale, minimises Platina’s capital outlay and accelerates returns to investors.

“Platina discovered the scandium resource in 2011 as part of an exploration program for platinum and nickel/cobalt.

“Platina has advanced the project over the last 12 years through geological, metallurgical and engineering studies to the point where its value has been recognised by one of the world’s largest and leading natural resource companies.

“This transaction with Rio Tinto will also allow Platina shareholders to benefit from an injection of new funding to advance its extensive gold portfolio and pursue other more advanced project opportunities without shareholder dilution.”

 

 

 

Black Cat Syndicate Continues High-Grade Gabbro Veins Growth

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8”) released more positive drilling results from underground diamond drilling at the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Black Cat Syndicate rates Paulsens underground as one of Australia’s highest grade gold deposits with a current JORC 2012 Mineral Resource 258,000 ounces at 10.8 grams per tonne gold (56% Measured & Indicated).

The company declared its ongoing extensional drilling, targeting the Gabbro Veins in the mid-levels of the mine, continues to demonstrate the Resource growth potential for the Gabbro Veins, which boast a current Resource of 86,000 ounces gold at 11.9g/t gold.

New assays from intersects encountered outside the current Resource include:

PGRD23074
0.37 metres at 16.5 grams per tonne gold from 157.61m and 2.1m at 2.31g/t gold from 187.07m (outside current Resource); and

PGRD23075
0.58m at 20.83g/t gold from 156.07m and 1.77m at 5.89g/t gold from 161.32m ( outside current Resource).

“The ongoing results coming out of the Gabbro Veins drilling is strong validation of our thesis that they represent both a significant gold Resource and a potential new mining area for the Paulsens gold operation,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The most recent results are all extensional to the current Paulsens Resource and will be included in the update to be completed in May 2023.

“Engineering activities are also in full swing as we ready the site for a potential restart decision in the middle of the year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Who’s Who in the Roundup Zoo

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THE CONFERENCE CALLER: With the RIU Sydney Resources Roundup fast approaching, we thought it would be the ideal time to check in an a few of the companies that will be presenting to see what they’re up to.

 

Alto Metals (ASX: AME)

Alto Metals recently reported a Mineral Resource update for the company’s 100 per cent-owned Sandstone gold project in Western Australia.

The updated Mineral Resource incorporated updates for deposits across the Sandstone project, including the Indomitable Camp (including a maiden resource for Indomitable East and Musketeer), an update to Lord Nelson and a maiden Mineral Resource estimate for Bull Oak.

The independent Mineral Resource Estimate outlined an optimised and pit-constrained 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces of gold within $2,500 per ounce optimised pit-shells reported at 0.5g/t gold cut-off.

The latest MRE included all drilling Alto had completed on the aforementioned deposits up to the end of November 2022.

It is important to note that Resource estimates for Lord Henry, Vanguard, Vanguard North, Havilah Camp, Tiger Moth, Piper and Ladybird deposits remained unchanged from Mineral Resources the company reported in March 2022, September 2018 and June 2019, respectively.

“This latest update once again highlights the shallow nature of mineralisation and has delivered a robust, optimised and pit-constrained Resource of 832,000 ounces gold at 1.5 grams per tonne, representing 80 per cent of the total MRE and remains open in all directions,” Alto Metals managing director Matthew Bowles said.

“Our systematic approach to exploration is continuing to deliver and we are confident further drilling will continue to grow the resource and increase the confidence of additional Inferred resources to Indicated.”

With over 27 per cent of the Total MRE within the optimised pit-shells in the Indicated category, Alto considers the total mineral resources for the Sandstone gold project have a reasonable prospect of eventually being mined.

These considerations stem from the shallow nature and the thickness and gold grades of the deposits, which are located on granted mining or exploration leases, and close to existing infrastructure.

“The company is focused on adding further ounces and sees plenty of avenues to continue growing the Sandstone resource with numerous priority targets, as well as starting to target the significant potential at depth, which remains relatively untested,” Bowles remarked.

“The total mineral resource now delineated at Sandstone is a significant milestone for the company.”

 

Lunnon Metals (ASX: LM8)

Lunnon Metals made the market take notice by releasing an updated nickel JORC (2012) Mineral Resource Estimate (MRE) for the Warren deposit within the company’s Kambalda nickel project (KNP) in Western Australia.

Lunnon reported the updated Warren MRE at 445,000 tonnes at 2.5 per cent nickel for 11,200 contained nickel tonnes, comprising: – 345,000 tonnes at 2.6 per cent nickel for 8,800 nickel tonnes in Indicated Resource; and – 100,000 tonnes at 2.4 per cent nickel for 2,400 nickel tonnes in Inferred Resource.

The update took Lunnon Metals’ global MRE across the KNP to 2.9 million tonnes at 3.1 per cent nickel for 87,800 contained nickel tonnes.

To put the achievement into focus, this equates to a 125 per cent increase in contained metal since Lunnon Metals listed on the boards of the ASX in June 2021.

“The drill programs at Warren have delivered steady growth to the MRE but importantly, have achieved other, just as significant, outcomes,” Lunnon Metals managing director Ed Ainscough said.

“We have hit nickel in host positions not previously considered prospective in this area, opening up an exciting new exploration search space.

“This discovery has dramatically increased the footprint of nickel mineralisation at Warren, now captured in the increased MRE.

“To test this potential properly, we will likely need to get underground and this MRE provides confidence that Warren will form an important part of the PFS studies for a possible re-start of the Foster nickel mine, from which Warren would be accessed.”

Lunnon will use the MRE as the basis of economic studies to investigate the potential to mine the Warren deposit as part of a Foster PFS.

These studies will include mine design and scheduling, estimation of capital access costs, estimation of future operating costs of mining and discussion with potential ore tolling and concentrate purchase partners with respect to the metallurgical recovery and payability terms of future Warren nickel sulphide production.

These studies, if positive, will form the basis of a development study that could eventually position the company to negotiate with potential ore tolling and concentrate purchase partners in the immediate local area.

 

Revolver Resources (ASX: RRR)

Revolver Resources is a copper-focused exploration play with two 100 per cent-owned copper projects in Queensland.

The Dianne project covers six Mining Leases and an Exploration Permit in the proven polymetallic Hodkinson Province in north Queensland.

Project Osprey covers six exploration permits within the North-West Minerals Province, one of the world’s richest mineral producing regions.

The principal targets Revolver is chasing are Mount Isa style copper and IOCG deposits.

Late 2022, Revolver released an initial Mineral Resource Estimate (MRE) for the Dianne Mine primary and supergene massive sulphide (MS) and the Green Hill supergene oxide deposits.

The MRE for the Dianne Mine includes:

Dianne Primary and Supergene MS: Total Indicated and Inferred Mineral Resource of 135,000 tonnes at 6.1 per cent copper for 8,200 tonnes of contained copper metal, at a 0.5 per cent copper cut-off grade.

Green Hill Supergene Oxide: Total Indicated and Inferred Mineral Resource of 1.49 million tonnes at 0.66 per cent copper for 11,000 tonnes of contained copper metal, at a 0.25 per cent cut-off grade.

The combined MRE tonnage contains 72.1 per cent in the Inferred Mineral Resource and 27.9 per cent in the Indicated Mineral Resource categories.

“This initial mineral resource estimate equips Revolver with the necessary information to progress a dual track approach to unlocking early value at Dianne,” Revolver Resources managing director Pat Williams said.

“The already establish highly prospective copper district surrounding Dianne is now complimented by the clear definition of the starting resource that has the potential to support near term open pit mining.”

Revolver began 2023 in an equally exciting way with the announcement it had discovered a substantial new VMS system in the district scale tenement package containing the Larramore Volcanic Belt, within the greater Dianne project area.

Following results of a Heli-EM survey that had identified multiple priority conductive anomalies across the region, Revolver’s first diamond hole testing the first of these targets confirmed the VMS potential of the district and the validity of the Heli-EM targets intersecting VMS mineralisation.

“This is a ground-breaking result and provides Revolver with the clear evidence needed to upscale exploration activities across this exciting district-scale copper precinct,” Williams said.

 

 

E79 Gold Mines Reveals More Target 3 Targets

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THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) recently completed a geophysical program at Target 3 within the company’s Laverton South gold project in Western Australia.

E79 Gold Mines reported the results from the program demonstrated new exploration drill targets with a potential northern extension and southern offset to the prospective granite that hosts the Target 3 gold system.

The company has commenced an air-core drill program to test the potential southern extension.

A RC rig is expected on-site next week to test for high-grade shoots along the granite contact at depth, to evaluate the potential for Granny Smith-style mineralisation at Laverton South.

“Gravity surveys are a great tool for early exploration, with the ability to dramatically reduce your search radius and make exploration drilling more focused and effective,” E79 Gold Mines CEO Ned Summerhayes said in the company’s ASX announcement.

“The recently completed gravity survey over Target 3 has identified the main prospective granite – where drilling has intersected multiple plus-one gram per tonne hits – as well as a possible extension to the north and a possible offset to the south.

“Increasing the exploration area for the prospective granite contact is a high priority and will lead to more focused exploration drilling.

“The current air-core drill program will test the potential southern offset, and deeper RC drilling is set to begin next week at Target 3.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Dreadnought Resources Releases Initial High-Grade Gold Resource at Metzke’s Find

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) released an initial Mineral Resource Estimate for the Metzke’s Find gold deposit within the company’s Central Yilgarn project located in the Yilgarn Craton of Western Australia.

Metzke’s Find is located around 200 kilometres from Kalgoorlie where gold was discovered and worked in the early 1900s.

Dreadnought acquired the project in 2020, since when it has completed RC and diamond drilling to delineate the Resource.

The drilling targeted historic workings and anomalous results from sparse historic drilling.

The MRE has come in at 68,400 tonnes at 6.8 grams per tonne gold for 14,900 ounces of gold.

This contains an Indicated Resource of 45,500 tonnes at 7.3g/t gold for 10,700 ounces and an Inferred Resources of 22,900 tonnes at 5.8g/t gold for 4,200 ounces of gold.

“The initial shallow and high-grade Resource over Metzke’s Find is a solid foundation for future discoveries and growth within the widely unexplored Central Yilgarn project,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“This represents the first ever Resource declared over any part of the Central Yilgarn project which covers four greenstone belts.

“We continue to view Central Yilgarn as having significant potential for gold and nickel which will be progressed in the background while we continue to focus on rare earths at Mangaroon.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE