Black Cat Syndicate Extends Paulsens Gabbro Veins

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) continues to produce drilling highlights from the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Paulsens underground is one of Australia’s highest-grade deposits with a current JORC 2012 Mineral Resource of 259,000 ounces at 10.7 grams per tonne gold (56% Measured & Indicated).

Recent results from extensional and discovery drilling outside the current Gabbro Veins Resource has continued to demonstrate the growth potential at Paulsens with assays from drilling up plunge of previous drilling returning:

PGRD23001A
0.9 metres at 9.32 grams per tonne gold from 59.3m;

PGRD23002
1.96m at 5.71g/t gold from 61.47m and 1.63m at 16.05g/t gold from 64.87m, including 0.56m at 35.3g/t gold from 64.87m;

PGRD23002A
1.1m at 8.95g/t gold from 92.9m;

PGRD23003
0.32m at 62g/t gold from 47.24m; and

PGRD23005
0.70m at 13g/t gold from 78.3m and 0.5m at 14g/t gold from 91.5m.

Black Cat has drilling ongoing with two underground rigs operating in preparation for a Resource update in May 2023.

“More extensional results from the footwall Gabbro Veins highlight their extensive and high-grade nature,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The Gabbro Veins represent an untested opportunity at Paulsens with strong near-term mining potential, being located adjacent to the existing decline.

“The current Resource is already robust at 259,000 ounces at 10.7 grams per tonne gold (56% Measured & Indicated).

“With two underground diamond rigs now operating and accelerating results, we are excited about the growth potential of the high-grade underground Resource at Paulsens.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caprice Resources Confirms Lady Sampson Base Metals

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THE DRILL SERGEANT: Caprice Resources (ASX: CRS) reported results from recent drilling undertaken at the company’s Northampton polymetallic project in Western Australia.

Caprice Resources completed 11 holes at the Lady Sampson target, which was the first time any drilling has been done in the area.

The company reported results from the first drill hole (23NHRC001) earlier this month that had returned encouraging grades and widths of mineralisation from 39m down hole, including:

14 metres at 7.6 per cent lead, 1.1 per cent zinc and 3.1grams per tonne silver from 39m, including 6m at 11.4 per cent lead, 1.7 per cent zinc and 4.4g/t silver from 40m, and
3m at 4.2 per cent lead, 2.2 per cent zinc and 4.6g/t silver from 67m to EOH.

Caprice said the remaining holes (23NHRC002 – 011) confirmed the mineralisation, delineating a north-north-west strike with a likely steep easterly dip.

Anomalism and mineralisation have been delineated over at least 1,000 metres and remains open at depth and along strike, results included:

23NHRC011
7m at 3.5 per cent lead and 1.1 grams per tonne silver from 59m, including 2m at 7 per cent lead and 2.1g/t silver from 59m;

23NHRC008
5m at 3.1 per cent lead and 1.8g/t silver from 46m, including 1m at 7.4 per cent lead and 2.7g/t silver from 50m and 6m at 2.2 per cent lead and 1g/t silver from 53m; and

23NHRC0004
2m at 3 per cent zinc and 1.1 g/t silver from 56m.

“The program has highlighted the potential for mineralisation in this previously untested area, with the zone remaining open at depth and along strike,” Caprice Resources managing director Andrew Muir said in the company’s ASX announcement.

“The imminent follow up drilling will give further insight into continuity, metal zonation as well as depth and strike extents.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

Singapore Set to Shine

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THE CONFERENCE CALLER: You know the world’s collective mining industries are starting to get serious about the inevitable transition to renewable energy generation and storage to offset the impact of climate change when all links of the supply chain gather in one place.

The Future Facing Commodities Conference is a ground-breaking gathering set to take place in the Asian economic stronghold of Singapore in the first week of April.

Future Facing Commodities, also known as critical minerals, are metals and non-metals that have emerged through the unique properties each contributes to modern day technologies.

They each hold particular economic functions due to the fact they are difficult to replicate, and therefore replace, when used in manufacturing renewable energy generators such as solar panels or wind turbines.

Not are they difficult to replicate or replace, some are very difficult to find leading to high degrees of supply risks such as geological scarcity, geopolitical issues, trade policy or other factors, which in turn, makes them extremely valuable.

It has been hard to avoid any chatter of electric vehicle and the predicted global rise they are to be responsible for regarding the increased demand in battery minerals.

This will be a subject of great discussion at the Future Facing Commodities Conference as companies meet to mull over how to meet this demand as the world transitions to renewable energy generation and storage to offset the impact of climate change.

The Future Facing Commodities Conference provides the perfect opportunity to bring together world leaders of Electric Vehicles and the critical minerals industry with global capital markets to meet at one major event in one major city.

An early presentation on Day One will be delivered by BHP Xplor vice president Dr Sonia Scarselli.

BHP Xplor is an initiative by Mining giant BHP, which has opened its doors to aspiring exploration companies, especially those in the hunt for copper, nickel and other critical minerals.

The major’s new BHP Xplor initiative is a simple way for the company to outsource grassroots exploration by financing juniors with a good tale to tell, but nobody to listen.

When launching the program, BHP described Xplor as being, “dedicated to accelerating innovative, early-stage mineral exploration start-ups to find the critical resources necessary to drive the energy transition”.

A smart move to get in early and being in the room should any of these minnows hit something of potential, thereby removing any possible bidding wars with any other super-miner that may be interested.

Also on Day One punters will hear from John Stover portfolio manager for Asia Pacific based investment and advisory firm Tribeca’s Asia Credit Strategy.

Stover’s presentation will look at the Supercyle investment opportunities arising in the Asia-Pacific region.

An appearance from Australian Government Minister Hon Madeleine King, MP Minister for Resources, Minister for Northern Australia will build on presentations at Critical Metals focused conferences by the previous Liberal Government.

No matter who oversees the nation’s capital, all persuasions of Australian governments are realising the importance Future Facing Commodities will play in our immediate future.

The World Bank is just one authority that anticipates demand for critical minerals in renewable and clean energy to increase, citing expectations of a rise of 500 per cent by 2050.

In its Resources and Energy Major Projects Report for December 2022, the Department of Industry, Science and Resources declared critical minerals projects would be perfectly placed to build momentum for Australia’s critical minerals sector.

At the time of releasing the report, Australia’s critical minerals major project pipeline comprised 81 projects with an estimated value of $30 to 42 billion.

Compare this to the same in 2021 when there were 71 projects worth an estimated $22 to 36 billion in the gun and it is obvious this sector is on the rise.

Western Australia has lead the charge to maintain its standing as the nation’s pre-eminent mining destination with over fifty per cent of all Australian critical minerals’ projects — in terms of both project numbers and investment value —located in the state.

That doesn’t mean the rest of the country has given up, on the contrary the hunger for Future Facing Commodities is driving exploration on projects based in most Australian states and territories, with New South Wales, the Northern Territory and Queensland accounting for most of the remaining investment dollars.

“Around a quarter of this year’s critical minerals projects are at the publicly announced stage, worth $6.5 to 11.6 billion,” the Department of Industry, Science and Resources said in its report.

“Projects at the feasibility stage account for more than half of all critical minerals’ projects — worth $16.3 to 22.9 billion.

“A total of 13 projects were at the committed stage ($6.7 billion), and three projects with a capital value of $800 million were completed during the year.”

Although the Future Facing Commodities are being exhumed from WA they are being put to more use on the eastern seaboard.

According to the Clean Energy Council’s Renewable Projects Quarterly Report – Q4 2022 New South Wales contributed the most financially committed generation projects in 2022, with five projects, Victoria came second with four new projects accounting with Queensland completing the podium in in third position.

All up, in 2022, 15 generation projects for a total of 3.57 gigawatts (GW) of installed capacity reached Financial Close, which was down on 2021’s total of 23 projects.

The Clean Energy Council noted that a pattern seems to be developing where there are fewer total projects, however, those that are coming on board are larger in size in terms of installed capacity.

“In 2022, 26 projects across Australia reached financial commitment. This was seven projects fewer than 2021 and the lowest annual tally of new projects reaching this stage since the Clean Energy Council began recording data in 2017.

This equates to 13.7 GW of installed capacity, as well as 10.1 GWh of storage,” The Clean Energy Council said.

“Over this same period, 189 generation and storage projects have been commissioned, contributing 13.9 GW of installed capacity, and 1.1 GWh of storage.”

Despite these figures, the hunger for investment in renewable energy and storage goes unsated with investment in new financially committed capacity projects hitting $4.29 billion in Q4 2022, a 10-fold increase to the previous quarter, and more than $4.1 billion compared to 12 months previous.

“The rolling 12-month quarterly average investment spiked to $1.56 billion for new capacity projects, and huge increase from the $531 million seen in Q3,” The Council added.

“Total investment on new financially committed capacity projects for 2022 reached $6.24 billion, an increase of $0.99 billion (+18.9 per cent) compared to 2021.”

 

 

 

St George Mining Acquires Strategic Lithium Projects

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THE BOURSE WHISPERER: St George Mining (ASX: SGQ) has struck an agreement to acquire 100 per cent ownership of seven lithium prospective projects located in Western Australia.

St George mining entered the deal via its wholly owned subsidiary, Lithium Star with sellers Chariot Corporation Limited and Stallion Lithium to acquire a package of tenements comprising 14 exploration licences – 13 of which have been granted with one in application – covering a total area of approximately 653 square kilometres.

The tenements comprise seven distinct projects located along strike from high-grade lithium deposits and established spodumene producing lithium mines and include:

The Split Rock Project, located approx. 25 kilometres north-west of the Earl Grey lithium deposit;

The Buningonia and Buningonia North projects, located in the same lithium province as Global Lithium’s Manna project and the Bald Hill mine;

The Ten Mile West project, located east of Liontown Resources’ Buldania deposit; and

The Myuna Rocks project, located near Allkem’s operating Mt Cattlin mine.

“This is a strategic move by St George to deliver a step-change in exploration opportunities in the world’s premier hard-rock lithium address of Western Australia,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“Several of the projects being acquired are located in regions that have delivered very significant results for other explorers and led to the confirmation of high-grade deposits being developed or already underpinning mining operations.

“Exploration ground in these regions is highly sought after.

“The projects being acquired by St George are underexplored for lithium.

“Our focus will be on unlocking any resource potential through systematic exploration.

“The acquisitions are in line with our strategy to build and explore a high-quality portfolio of lithium assets in Tier 1 jurisdictions like Western Australia.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Matador Mining Reports Multigram Samples from Bunker Hill Greenfields Target

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THE DRILL SERGEANT: Matador Mining (ASX: MZZ) claimed discovery of anomalous gold mineralisation at the Bunker Hill target area, which is located along the company’s tenure on the Cape Ray Shear Zone (CRSZ) in Newfoundland, Canada.

Matador Mining made the claim based on assays from its 2022 prospecting program at the Bunker Hill target area.

Anomalous gold mineralisation was achieved in four prospecting samples:

3.52 grams per tonne gold (MR001250 – float sample)
2.51g/t gold (MR001150 – float sample)
1.72g/t gold (MR000644 – float sample)
1.57g/t gold (MR001149 – float sample)

The company reported several samples from Bunker Hill yielded anomalous pathfinder elements up to 27.72g/t silver, 0.24 per cent copper, 3.37 per cent lead, 0.69 per cent zinc, 67.98ppm molybdenum.

“Our extensive 2022 Greenfields prospecting program continues to yield encouraging results that further demonstrate the attractiveness of our large exploration ground in Newfoundland,” Matador Mining managing director and CEO, Sam Pazuki said in the company’s ASX announcement.

“The Bunker Hill target area, which is adjacent along the CRSZ to the east of the Malachite target area has a strike length of 24 kilometres or 60 per cent greater than that of Malachite.

“It is another essentially unexplored part of the CRSZ however, with very limited historical work including discovery of outcropping veins containing 20.6g/t silver, and 17.9 per cent copper with up to 407g/t silver in float during the 1980s, outcropping samples that returned 34.1g/t silver and 57 per cent copper in 2011, and outcropping veins that returned upwards of 18.67g/t gold in the early 2000s.

“The historic work also included four diamond drill holes focused on base metals.

“Our 2022 prospecting program discovered multigram gold (3.52g/t) approximately 900 metres from the 18.67g/t gold historic sample and multigram samples spanning an area of approximately 2.5 kilometres in strike.

“As a result, the Bunker Hill target area has been confirmed as yet another key area for us to conduct future exploration activities.

“This has been elevated in our priorities and we are planning to complete additional prospecting and geophysics in 2023 field season to follow-up on these exciting high-grade gold occurrences.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Corazon Mining Identifies Nickel Sulphide Targets at Miriam Project

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has identified three initial, priority drill targets at the company’s Miriam nickel sulphide, lithium project in the Eastern Goldfields region of Western Australia.

Corazon commenced on-ground activities in January, testing for nickel sulphide mineralisation, resulting the identification of three targets the company has interpreted as three large ultramafic lava paleo-channels or paleo-depressions (channels) that may be favourable traps for nickel sulphide accumulation; the Miriam Main Channel, the North Channel and South Channel.

The Main Channel hosts the Miriam nickel sulphide deposit and has been defined by multiple drill hole intercepts, including the Miriam discovery hole HH92 that was reported in 2021 to have intersected violarite (a weathered nickel sulphide mineral) with 9.6 metres at 5.6 per cent nickel.

The North Channel has not been drill tested below about 100 metres depth, however, mapped gossans (iron-oxide minerals formed from weathered sulphide) exist as does soil geochemical anomalism at surface.

The South Channel is also not well tested by drilling and will be mapped in more detail with ground geophysics prior to defining targets for drilling. Previous deeper drilling has intersected nickel sulphide.

“Corazon is currently testing the Miriam Trend via detailed ground magnetic and gravity geophysics,” the company said in its ASX announcement.

“This work will better define the basal contact of the prospective ultramafic for targeted drilling, as well as possibly identifying variations in the depth of weathering that may infer sulphide bodies.

“The results of this detailed targeting work are expected next month.

“Once drill targets have been confirmed, a program of works will be submitted for governmental drilling approval.”

 

 

 

Killi Resources Confirms Tanami Copper Sulphide Mineralisation

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THE DRILL SERGEANT: Killi Resources (ASX: KLI) has confirmed magmatic copper mineralisation at the company’s West Tanami project in the Kimberley region of Western Australia.

Killi Resources announced the results from a diamond drill hole completed at the West Tanami project, from which magmatic copper mineralisation in the form of the mineral chalcopyrite had been observed in drill core.

The company said assays had now confirmed the visuals with the zone of massive sulphides returning:

4.2 metres at 728ppm copper, 58ppm cobalt and 0.46 grams per tonne silver, including 0.6m at 2,730ppm copper, 114.5ppm cobalt and 1.23g/t silver.

The company has claimed this as the first confirmed record of copper mineralisation within mafics of the Tanami region.

“The discovery of a copper mineralised magmatic system in the Tanami is the first of its kind within the region,” Killi Resources CEO Kathryn Cutler said in the company’s ASX announcement.

“This result highlights the potential for magmatic sulphide systems at the project, which could host nickel-copper-cobalt deposits.

“Magmatic units within the Tanami region are particularly underexplored, with no recorded cases of copper mineralisation currently on file, until now.

“These rocks were formed in the Proterozoic period, with multiple nickel-copper-cobalt sulphide deposits in Western Australia of a similar age, such as Nova-Bollinger and Nebo-Babel.

“Mineral exploration at these truly remote greenfield projects leverages the company to unique opportunities, like this, which includes the discovery of a new commodity in a known province.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Cygnus Metals Extends Known Pontax Mineralisation

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THE DRILL SERGEANT: Cygnus Metals (ASX:CY5) has received further high-grade assays from four holes recently drilled at the company’s Pontax lithium project in the James Bay region of Québec, Canada.

Cygnus Metals has drilling ongoing with three drill rigs targeting resource definition at Pontax Central and step out exploration.

Cygnus explained it has designed the drill program to systematically step out from known mineralisation at Pontax Central.

Latest high-grade assays have extended known stacked mineralisation at Pontax Central from shallow intersections within 230 metres of surface remaining open in all directions.

Assays include:

DDH975-22-029
11.1 metres at 1.2 per cent lithium oxide (Li2O) from 146.3m, including 2.5m at 2.6 per cent Li2O, 3.6m at 1.4 per cent Li2O from 65.6m and 6.3m at 1 per cent Li2O from 94.9m;

DDH975-22-032
5.5m at 1.4 per cent Li2O from 178.7m and 5.9m at 1 per cent Li2O from 262m; and

DDH975-22-026
3.3m at 2.8 per cent Li2O from 107m, including 1.0m at 5 per cent Li2O and 4.2m at 0.9 per cent Li2O from 124.4m.

“These results are important because they continue to grow the known mineralisation at Pontax,” Cygnus Metals managing director David Southam said in the company’s ASX announcement.

“They are also high-grade and shallow, and reveal areas of intense spodumene, all of which is very good news for the upcoming maiden Resource.

“The outlook is exceptional, with mineralisation outcropping from surface, results demonstrating mineralisation remains open in all directions and three diamond drill rigs working 24/7.”

 

 

 

Flynn Gold Delivers Trafalgar and Popes Gold Drilling News

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THE DRILL SERGEANT: Flynn Gold (ASX: FG1) is keeping itself occupied with drilling underway at the company’s 100 per cent-owned gold projects in Northeast Tasmania.

Flynn Gold has commenced Phase 2 drilling of the Trafalgar prospect within its Golden Ridge project targeting extensions of known gold mineralised vein structures.

The company recently completed an initial two hole diamond drilling program at the Popes gold prospect within its Portland gold project.

The drilling at Trafalgar follows a seven-hole Phase 1 diamond drilling completed in February 2023 that encountered several gold intersections.

Drilling at the Popes prospect entailed two diamond drill holes targeting gold mineralisation.

Flynn Gold’s explained its main exploration target at the Portland gold project is for Victorian-style, turbidite-hosted orogenic high-grade gold deposits.

The Popes prospect comprises a series of historical shallow gold workings (trenches, pits and abandoned shafts).

Previous exploration at the Popes prospect has been limited to soil sampling as part of a project wide soil sampling program across the Portland mineralised system.

“Flynn Gold’s Phase 2 drilling program at the Trafalgar prospect has commenced,” Flynn Gold CEO Neil Marston said in the company’s ASX announcement.

“At Trafalgar, we made a significant new gold discovery from our 2022 drilling program and now the next step with our Phase 2 drilling, is to continue testing for strike and dip extensions of mineralised vein structures.

“We have also completed our maiden diamond drilling program at the Popes prospect, which is located at the southern extension of the Portland gold project.

“This under-explored project area is prospective for Victorian-style orogenic high-grade gold deposits.

“Early visual examination of the drill core from the two holes completed at the Popes prospect has revealed moderate to intense alteration, multiple generations of quartz veining and the presence of sulphides.

“We look forward to receiving laboratory results from this drilling as they become available.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caspin Resources Identifies New Conductor at Serradella

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THE DRILL SERGEANT: Caspin Resources (ASX: CPN) is keeping busy releasing further news from the Serradella prospect, within the company’s Yarawindah Brook project in Western Australia.

Caspin Resources ported results from a Moving Loop Electromagnetic (MLEM) survey undertaken at the Serradella prospect, designed to search for massive sulphide accumulations within the Yarabrook Intrusion down plunge from recent drilling activities that identified PGE mineralisation.

The survey identified a large conductor to the north of the Serradella prospect the company considers likely to be hosted within ultramafic rocks of the Yarabrook Intrusion.

Caspin noted the conductor lies along strike of recently reported high-grade PGE mineralisation, such as 8.9 metres at 2.47 grams per tonne 3E and 0.22g/t nickel in YAD0029.

The conductor also lies within the eastern portion of the intrusion where recent drilling has confirmed the presence of metasediments in contact with the mineralised ultramafic sequence.

“This is an exciting development for the Serradella prospect,” Caspin Resources CEO Greg Miles said in the company’s ASX announcement.

“Recent drill results have demonstrated that near surface mineralised lodes remain open along strike to the north and this is where the MLEM conductor has been identified.

“It is therefore a very compelling target.

“There remains a lot to learn about the nature of the Yarabrook Intrusion, although one fact that is not disputed is that the mineralised system is large and much of the intrusion is yet to be adequately explored by any method.

“This result provides the company some confidence to continue using EM techniques as a method of exploration, particularly for prospective rocks with no surface expression.

“The company is still waiting for the return of assays from approximately 12 drill holes before assessing its next steps, although this conductor will be a priority target on resumption of the program.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE