Azure Minerals Welcomes $20M Investment from SQM

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THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has welcomed a new $20 million cornerstone investor to the company register.

Azure Minerals announced the investment by global lithium company Sociedad Química y Minera de Chile S.A., via its wholly-owned subsidiary SQM Australia to acquire a 19.99 per cent interest in Azure in a two-stage transaction.

Azure declared the investment by SQM as a strong endorsement of the lithium potential of the company’s Andover project (60% Azure / 40% Creasy Group) while highlighting the upside potential for Andover.

Having SQM on board in the form if its funding and technical expertise provides essential support to Azure as it looks to accelerate its lithium exploration and development program.

Needless to say, Azure is now well-funded to progress the Andover project.

“Azure is using the funds raised under the transaction to undertake an accelerated growth strategy to advance the company’s multi-commodity opportunity on the Andover project,” Azure Minerals said in its ASX announcement.

“Lithium exploration is being fast-tracked with substantial diamond and Reverse Circulation drilling being carried out to determine the scale of the high-grade lithium mineralisation already mapped and sampled at surface.

“Nickel exploration and mine development studies on the Andover and Ridgeline deposits will also continue through 2023.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Global Lithium Resources Delivers Increased Manna Deposit Exploration Upside

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THE DRILL SERGEANT: Global Lithium Resources (ASX: GL1) received further assay results from a 2022 drilling program at the company’s 100 per cent-owned Manna lithium project, located on the outskirts of Kalgoorlie in Western Australia.

Global Lithium Resources said the results have highlighted a large-scale lithium bearing pegmatite system extending to the Northeast.

The company explained it had identified the Northeast spodumene extension of the Manna deposit late last year but due to priority placed on the Manna Resource upgrade, the area was not drilled until late in the 2022 exploration program.

Global Lithium has now received the majority of the results from this prospective area that highlight an 800 metres long zone containing large high-grade intercepts of spodumene bearing pegmatites, that extend along strike and down dip in all directions.

The company considers this new prospective zone to be a direct extension of the Manna deposit.

An interim resource upgrade is currently underway using the remaining assay results from the 2022 drilling program, which Global Lithium expects will improve its level of confidence and add to the overall size of the resource.

Reverse Circulation (RC) drilling results include:

MRC0192
19 metres at 1.2 per cent lithium oxide (Li2O) from 263m;

MRC0232
17m at 1.76 per cent Li2O from 341m; and

MRC0182
15m at 1.72 per cent Li2O from 277.

“I am very pleased with these exceptional assay results within the new North-eastern extension of the Manna Lithium deposit,” Global Lithium Resources general manager exploration Stuart Peterson said in the company’s ASX announcement.

“These results have increased our confidence that this new area could potentially hold significant tonnes and the company will continue to build on the existing Manna Resource.

“The exploration team have planned a large scale, 35,000m drilling program that is targeted to drill out and define new prospective areas within Manna.

“Our team continues to work hard to understand the extent of the possible strike length of the deposit outside of our current resource estimate.”

The Manna lithium project currently hosts a Mineral Resource of 32.7 million tonnes at 1 per cent Li2O.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Miramar Resources Focusing on Gascoyne Exploration

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THE DRILL SERGEANT: Miramar Resources (ASX: M2R) signalled its exploration focus for 2023 will centre on the company’s portfolio of projects located in Gascoyne region of Western Australia.

Miramar Resources has a number of 100 per cent-owned projects in the Gascoyne Mineral Province, which it considers prospective for a range of commodities including: iron oxide copper-gold (IOCG), REEs hosted in carbonatites and nickel-copper-PGEs associated with Proterozoic dolerite sills.

The company is eager to get out on its Whaleshark project where modelling and inversion of detailed gravity data collected during 2022 identified a discrete gravity anomaly within the neck of the Whaleshark granite which is cross-cut by a NW-trending structure interpreted from aeromagnetic data.

Miramar has received Program of Work approval for a drill program to test the gravity anomaly with 1-2 diamond holes and has also submitted an application to be considered for the current round of co-funded drilling under the WA government’s Exploration Incentive Scheme (EIS).

Drilling will commence following completion of a heritage survey over the proposed drill sites.

On the back of discoveries of several REE-bearing carbonatite intrusions by neighbouring companies, Miramar flew a detailed magnetic and radiometric survey over the Dooley Downs target in late 2022 that highlighted several radiometric anomalies.

Of these, the Eden Bore target stood out as a large circular magnetic anomaly at the contact between Edmund and Collier Basin rocks.

Miramar plans to test this target with systematic soil and/or auger sampling, followed by drilling.

“We have a number of fantastic discovery opportunities right across our project portfolio but the Gascoyne region has really heated up over the last 12-18 months,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Now that we have completed regional-scale targeting on our granted projects, we are looking forward to focussing in on our more advanced targets this year.

“We’re excited about the potential at Whaleshark and/or Bangemall with a new IOCG, REE or nickle-copper-PGE discovery a real possibility at these project sites.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Killi Resources (ASX: KLI) CEO Kathryn Cutler

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VIDEO DIARY: Killi Resources (ASX: KLI) CEO Kathryn Cutler zoomed into The Resources Roadhouse to bring Wally Graham up to speed on the company’s recent exploration efforts at its Ravenswood North project in Queensland.

Great Boulder Resources Drills High-Grade Intersections to Extend Ironbark

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) has completed its first RC drill run for 2023 on the Ironbark prospect, within the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources’ Phase 1 RC program at Ironbark comprised nine holes designed to extend mineralisation down dip and along strike to the north, as well as infilling previous drilling on some sections.

The company explained that while assaying is complete for most of the program a small number of results are still being processed for hole 23IBRC002.

Assays that have been received showed high-grade gold intersected with results including:

23IBRC007
20 metres at 9.41 grams per tonne gold from 111m, including 5m at 17.47g/t gold from 125m;

23IBRC004
8m at 9.89g/t gold from 115m, including 1m at 72.6g/t gold from 117m;

23IBRC003
14m at 3.61g/t gold from 82m, including 9m at 5.49g/t gold from 82m; and

23IBRC001
31m at 2.22g/t gold from 25m, including 6m at 8.1g/t gold from 26m.

RC hole 23IBRC001 extended the strike of Ironbark north by 50m.

“This is a great start to the year, with our first RC hole at Ironbark extending the strike north by 50 metres and a number of thick, high-grade intersections adding ounces at depth,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“The northern-most intersection has defined a wide zone of mineralisation; 31 metres down-hole, including a higher-grade portion of six metres averaging 8.1 grams per tonne gold.

“This result is a significant increase to the mineralised envelope which adds to our expectation that Ironbark has excellent potential for open pit mining.

“The other intersections in this round of drilling add high-grade ounces at depth.

“This small program of RC drilling has added a lot of value.”

 

 

 

 

Neometals Highlights Vanadium Recovery from Feasibility Study Results

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THE BOURSE WHISPERER: Neometals (ASX: NMT) has completed a Feasibility Study on recovery of high-purity vanadium pentoxide (V2O5) from waste high-grade vanadium-bearing steel by-product material, known as slag.

Neometals announced completion of an Association for the Advancement of Cost Engineering (AACE) Class 3 Feasibility Study on V2O5 recovery that was completed with assistance from leading Nordic engineering group Sweco Finland Oy (Sweco).

Assuming a 300,000 tonnes per annum feed rate, the study determined average annual production of 19.1 million pounds per annum (approx. 8,655tpa) of potentially carbon negative high-purity V2O5 secured by 10-year supply agreement with Scandinavian steelmaker SSAB.

Neometals is a 50 per cent shareholder in an incorporated Joint Venture company, Recycling Industries Scandinavia AB (RISAB), which is evaluating the feasibility of constructing a facility to process and recover high-grade V2O5 from vanadium-bearing steel making by-product generated by SSAB.

Under a binding feedstock supply contract with SSAB, that company will supply two million tonnes of slag with RISAB having the first right to purchase additional tonnes on an as available basis.

“Neometals is encouraged by the outcomes of the FS,” Neometals managing director Chris Reed said in the company’s ASX announcement.

“Importantly, increased evaluation detail and cost accuracy has not seen a significant departure from prior cost studies.

“VRP1 remains in the first quartile of the operating cost curve and since the historical PFS, the sector tailwinds behind this project have increased markedly.

“With our newly expanded 300,000 tonnes per annum feed rate and some updated data since the last cost study, the FS highlights the significant opportunity that exists.

“Specifically, that opportunity is to deliver some of the highest-grade, lowest-cost vanadium chemicals globally with a carbon-negative footprint.

‘Security of supply is a key issue globally, particularly so in the EU where battery material resilience is the topic du jour.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Killi Resources Drills Strong Results at Rocky Prospect

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THE DRILL SERGEANT: Killi Resources (ASX: KLI) recently completed its first RC drilling program on the Rocky prospect within the company’s Ravenswood North project in Queensland.

Killi Resources completed five RC holes into a gold-silver-copper-molybdenum geochemical target it had identified in 2022.

All five holes intersected the Ravenswood granitoids, which Killi explained are the desired host rocks for gold mineralisation.

Results of mineralised intersections of gold and/or silver were returned, including:

2 metres at 1.58 grams per tonne gold, 9.75g/t silver, and 0.23 per cent lead from 177m
1m at 2.38g/t gold, 10.2g/t silver, and 0.28 per cent lead from 32m
5m at 6.9g/t silver, including 2m at 15.6g/t silver from 160m and
1m at 1.26g/t gold from 163m.

Killi has interpreted the results from the first five holes as being consistent with first pass drilling results of gold deposits within the district, and likely represent proximity to a potential intrusive gold system.

“We are all very excited with the discovery of a significantly mineralised granodiorite at Rocky,” Killi Resources CEO Kathryn Cutler said in the company’s ASX announcement.

“It’s a fantastic result for the first holes at the Ravenswood North project.

“These first drill holes have not only come back with broad zones of gold, silver, copper and lead mineralisation, they are also located close to surface, and within the same rock suite as the near-by major gold deposits.

“The results of the geophysics also indicate we are in the thick of it, and only 200 metres from one of the major targets.

“Rocky is fast becoming a priority for Killi, and based on these results and the targets generated, we plan on completing a targeted drill program in coming months.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caprice Resources Drills Encouraging Base Metals Hits at Northampton

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THE DRILL SERGEANT: Caprice Resources (ASX: CRS) reported drilling results from the company’s Northampton polymetallic project, located in the Northampton Mineral Field of Western Australia.

Caprice Resources recently completed an 11 hole RC program at the Lady Sampson prospect, situated approximately 40 kilometres southeast of the Northampton project to test north-south oriented base metals mineralisation over approx. 750 metres of strike.

The company noted this was the first time that any drilling has been done in this area.

The first drill hole (23NHRC001) of this program encountered encouraging grades and widths of mineralisation from 39m down hole.

In addition, a second zone was intersected from 67m, with the hole finishing in mineralisation.

Results include:

23NHRC001
14 metres at 7.6 per cent lead, 1.1 per cent zinc and 3.1 grams 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.

“Given this is the first drilling in this area, we see these initial results as exceptional,” Caprice Resources managing director Andrew Muir said in the company’s ASX announcement.

“The high grades and polymetallic nature, in addition to the presence of at least two zones, demonstrate the potential of the Lady Sampson prospect.

“Whilst we have only received the first hole to date, we recognise the significance of these results and will look to fast track follow up drilling at Lady Sampson.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Rox Resources Encounters Bonanza Gold Intercept at Youanmi South

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) and Joint Venture partner Venus Metals (ASX: VMC) reported initial drilling results from reverse circulation (RC) and diamond drilling (DD) programs currently underway at the Youanmi gold project (OYG JV) in Western Australia.

Rox Resources explained it is drilling to gain understanding of splay structures off the Youanmi Main zone, both to the west (Midway) and east (Youanmi South) with the aim of identifying new high-grade zones with strike continuity.

The company reported early stage results from Youanmi South it believes opens up an area largely untested at depth for potential resource growth.

The first of a series of holes to test a range of structural trends has returned continuous bonanza grades in RC drilling with:

RXRC458
28m at 34.81 grams per tonne gold from 204m, including 18m at 51.96g/t gold from 207m, including 10m at 79.55g/t gold from 211m, including 3m at 138.07g/t gold from 218m.

Follow up drilling is set to commence to determine the orientation and dip direction of this new discovery.

“Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained,” Rox Resources managing director Robert Ryan said in the company’s ASX announcement.

“The exceptional grade and continuous high-grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.

“A core focus of our current exploration program is to test the splay structures off the historically-mined zone structures along the granite margin.

“The results from Midway, and those reported here on Youanmi South emphasize that Youanmi has the potential to deliver extensive resource growth with quality ounces through near-mine discovery.

“Our confidence continues to increase that Youanmi is a large-scale, high-grade system that is still in the early stages of understanding and resource evaluation.

“Our team is doing an excellent job in processing all available data, refining our targeting and delivering on efficient execution.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Saturn Metals Pleased with First Pass AC Drill Results near Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) has made early progress with its strategy of exploring for complementary gold deposits adjacent to the company’s Apollo Hill gold project in Western Australia.

Saturn Metals reported recent drilling regional to the project’s 1.47 million ounce Mineral Resource has delivered strong results in what it see as a new and exciting geological terrain.

Thick and higher-grade aircore (AC) intersections include:

AHAC1537
20 metres at 1.44 grams per tonne gold from 88m, including 8m at 3.37g/t gold from 96m; and

AHAC1516
4m at 12.95g/t gold from 78m.

The recent results are located only 10 kilometres southeast of the Apollo Hill Mineral Resource and 3-6km southeast of Saturn’s Bob’s, Calypso and Erebus gold prospects, effectively adding to Apollo Hill’s camp scale mineralised potential.

To ensure some market attention, Saturn also reported several rare earth (REE) drill intersections close to the reported gold intersections, which it has interpreted to be further evidence of a fertile mineralised terrain.

“These are great greenfields drill results and I am most excited by the geological ingredients we are interpreting and more importantly intersecting in this new terrain next door to Apollo Hill,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“We are continuing the hunt for the next major discovery on our regional scale drill based gold anomaly as we work away on our parallel development plans at Apollo Hill.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE