Kin Mining Commences New Drilling Program Targeting Growth & Discoveries

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) has kicked off a new phase of drilling at the company’s 100 per cent-owned Cardinia gold project (CGP), located near Leonora in Western Australia.

Kin Mining is to undertake a multi-phase program of 60 RC drill holes across six target areas focused within what it considers to be the project’s “highly prospective” Eastern Corridor.

The company confirmed the Eastern Corridor via earlier drilling programs to be a series of parallel faults containing high-grade mineralisation along an extensive interconnected structural system with serious depth potential.

Drilling will in-fill and test between Mineral Resources spread along three main geological structures within the Eastern Corridor, as well as provide an initial test of the newly-discovered Mystery Fault.

“Building on the exciting results generated towards the end of last year, we see considerable untested opportunity across the broader project, with the highly mineralised Eastern Corridor displaying all the hallmarks of a major mineralised position where we have only just scratched the surface,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“We know that the Eastern Corridor hosts three significant structures – the Helens-Rangoon Fault, Helens East Fault and the Cardinia Hill Fault – each of which contain several high-grade quartz-sulphide lodes that persist to significant depths.

“We have also previously confirmed the presence of other mineralised zones in the area, which present compelling opportunities for new discoveries.

“We believe the Eastern Corridor is a significant gold mineralised system, which is yet to reveal its best deposits.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Gateway Mining Commences RC Drilling at Montague Gold Project

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THE DRILL SERGEANT: Gateway Mining (ASX: GML) reported the commencement of a new phase of Reverse Circulation (RC) drilling at the company’s Montague gold project, located in the Murchison Gold District of Western Australia.

Gateway Mining will be drilling is its first systematic program testing the entire strike length of the mineralised Montague-Caledonian shear system below the project’s historic Caledonian pit, which was mined in the late 1980s.

The company explained this same shear system hosts the Montague-Boulder deposit, located over 1.3 kilometres to the north, where Gateway has delineated a 163,000 ounces Indicated and Inferred Resource below the historic Montague-Boulder open pit.

“Our initial drilling below this pit, which for the first time tested the continuation of the ore-zone into the fresh rock, intersected the host Caledonian-Montague shear zone and returned a significant thickness of plus one gram per tonne gold mineralisation last year,” Gateway Mining managing director Mark Cossom said in the company’s ASX announcement.

“This new program is designed to extend this zone over a strike length of over 450 metres, down to 150 metres below surface.

“We will also shortly commence a major soil geochemistry program that will cover over 20 kilometres of strike of the mineralised structures north of Montague, where we believe there is outstanding potential to make new large-scale discoveries under cover.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Gold Maintains Relevance Despite Influx of New Age Commodities

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COMMODITY CAPERS: For some, gold seems to have lost its traditional lustre, however there are still exploration plays out there proving there is life in the world’s oldest currency yet.

Punters completing laps of the exhibition floor at the recent RIU Explorers Conference would be forgiven for reaching the conclusion that the exploration sector has lithium and rare earths squarely in its sights.

The race to accumulate the future facing metals that are set to launch us into a digital lifestyle first presented to us by The Jetsons so many years ago does have wide-eyed and wide-walleted investors filled with FOMO scrambling to get their slice of the electrified pie.

Although it probably wasn’t around as long ago to be squirrelled away by The Flintstones, gold has been the favoured metal for those seeking a ‘safe haven’ asset for thousands of years.

For centuries it has provided an inflationary hedge during times of severe economic stress, and in real terms, 2023 is shaping up to maintain this rule.

The bean counters at the World Gold Council determined that 2022 was a good year for gold with global central banks buying some 1,136 tonnes of gold worth $70 billion, which is the most since records began in 1950.

In its December 2022 Resources and Energy Quarterly, the Department of Industry, Science and Resources reminded us that gold prices averaged US$1,728 an ounce in the September quarter 2022 dues to pressure from increasing bond yields and the strong US dollar.

“A rebound to above US$1,750 an ounce in mid-November followed lower-than-expected US inflation data, which lowered market expectations for further interest rate increases,” DISR said.

According to the report, Australian gold mine production in the September quarter 2022 was 5.4 per cent higher year-on-year at 78 tonnes with production forecast to increase to 329 tonnes in 2023–24, as new projects and expansions of existing projects come on line.

So, let’s follow the yellow brick road for a moment to see what some gold-focused companies have been up to in just the two weeks since the RIU Explorers Conference.

 

In the lead up to the RIU Explorers Conference, Black Cat Syndicate (ASX: BC8) released an updated JORC 2012 Mineral Resource at Paulsens Underground, part of the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Total gold Resources at the Paulsens gold operation increased 73 per cent to 401,000 ounces at 3.3 grams per tonne gold, including an increase to total Measured and Indicated Resources of 65 per cent to 163,000 ounces at 8g/t gold.

The Paulsens Underground Resource increased to 258,000 ounces at 10.8g/t gold.

This week, Black Cat reported assays from an additional 15 diamond holes recently undertaken targeting underground Gabbro Veins and shear-hosted mineralisation it declared had continued to demonstrate immediate upside to the high-grade Paulsens Underground Resource.

Results included:

22PGRD038
2 metres at 39.9g/t gold from 18.75m and 1.03m at 17.8g/t gold from 51.12m; and

22PGRD004
1.23m at 14.84g/t gold from 28.68m and 1.55m at 6.14g/t gold from 60.68m and 0.86m at 58.5g/t gold from 102.14m.

“The Gabbro Veins continue to deliver impressive grades often with multiple veins intersected in each hole,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“A second rig will arrive this week as we ramp up drilling in the lead up to a restart decision.

“The Gabbro Veins represent a potential new mining front and host one third of the underground Resource.

“Along with Coyote Central this is one of Australia’s highest grade gold deposits.

“A further two months of drilling has been completed since then and will continue throughout 2023, focussed on Resource growth and discoveries around existing underground infrastructure.

“The next Resource update is planned for May 2023.”

Musgrave Minerals (ASX: MGV) was another to arrive at Explorers with news to tell following the release of assay results from reverse circulation (RC) drilling across multiple prospects, on the company’s 100 per cent-owned ground at the Cue gold project in WA.

The assay results came from drilling completed in December 2022 at the Amarillo, Big Sky, Big Sky North and East Numbers prospects.

Final assays from this drilling were released this week that Musgrave declared to have identified a potential new high-grade lode around 50m north of the Break of Day deposit.

Drilling including a single RC drill hole testing a new target zone that intersected:

22MORC413
4m at 8.2g/t gold from 50m within 14m at 2.8g/t gold from 50m.

“The intersection north of Break of Day may represent a new, untested high-grade lode and demonstrates the ongoing discovery opportunity within this system,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“This is a positive result as it bodes well for further discovery upside within the favourable Break of Day stratigraphic package.

“More drill testing is required to confirm the strike and dip extent of this new lode.

“In addition, further results from White Heat-Mosaic, White Light and the new Waratah zone all have the potential to add to our resource base as we continue to advance the Cue gold project.”

 

 

E79 Gold Mines Identifies New Gold Trend at Target 4 on Laverton South Project

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THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) has identified a second emerging gold trend from recent aircore drilling at Target 4, within the company’s Laverton South gold project in Western Australia.

E79 Gold recently completed 95 aircore holes at Target 4 designed to test a large-scale regional-scale gold-bearing structure, the Pinjin Fault, that hosts gold mineralisation over a 30 kilometres strike length.

The Pinjin Fault runs for six kilometres through E79’s tenure and the recent aircore drilling program explored along 2.5km of this strike length, through an area of structural complexity in the regional magnetics.

Results from recent drilling include:

22LRAC443
8 metres at 0.41 grams per tonne gold from 24m;

22LRAC428
4m at 0.47 g/t Au from 64m; and

22LRAC503
3m at 0.48 g/t Au from 28m.

“Target 4 is an exciting emerging target, located within a regional mineralised gold structure that hosts both historic workings and recent open pits along 30 kilometres of strike,” E79 Gold CEO Ned Summerhayes said in the company’s ASX announcement.

“We know that the structure, the Pinjin Fault, is mineralised in parts and we are seeking higher grades along the six kilometres runs through our tenements.

“Identifying anomalous gold, supported by pathfinder elements, in fresh rock is a great start, demonstrating that the gold is in-situ and has depth potential.

“These results provide two areas of focus for us: in the north, gold is located on either side of a structural break in the stratigraphy, which represents a zone of structural complexity; and in the south, where we have a number of holes with anomalous gold along the western edge of one of the drill lines.

“Our next step is to in-fill the 400 metres-wide spaced drill lines more closely, ahead of deeper RC drilling.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Codrus Minerals Completes Initial Field Work at Karloning REE-Niobium Project

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THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) reported completion of multiple first-pass exploration workstreams at the company’s recently acquired Karloning REE-niobium project in the wheatbelt region of Western Australia.

Codrus Minerals announced a farm-in and Joint Venture agreement to earn up to a 90 per cent interest in the Karloning project with Talgomine Minerals in November 2022.

Recent activities have included soil sampling, drone magnetics and ground radiometric surveys while initial drilling to follow-up high-grade results from recently announced grab samples is now underway.

Datasets collected will be used by the company to assist with drill targeting to test for the high-grade, high-value permanent magnet rare earths dysprosium, neodymium, terbium and praseodymium.

“We are delighted to have completed these initial fieldwork programs, which will provide robust datasets to assist with drill targeting for our upcoming maiden drilling program at Karloning,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“Results from our grab sampling program in 2022 confirmed exceptional grades across a suite of key rare earth elements, with these latest surveys expected to provide a clearer insight into the local geology.

“Our intention is to complete permitting for drilling as quickly as possible to ensure we can get the drill rigs underway as soon as data integration and drill targeting is complete.”

Codrus believes the Karloning project provides an outstanding opportunity for the company to diversify into the critical minerals space and build on its current gold and copper assets.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Charger Metals Claims Confirmation of High-Grade Lithium at Medcalf

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THE DRILL SERGEANT: Charger Metals (ASX: CHR) reported assay results from drilling targeting spodumene-pegmatites at the Medcalf spodumene discovery within the company’s Lake Johnston lithium prospect in the Yilgarn province of Western Australia.

Charger Metals encountered high-grade lithium intersections in 14 of 17 holes drilled in 2022 with a further 23 holes scheduled to be drilled during January and February 2023.

Results show drilling in 2022 intersected multiple stacked spodumene-pegmatites within a 100 metres-wide zone, with an aggregated thickness of up to 12m.

Lithium intersections include:

22CRC002
5 metres at 2.55 per cent lithium oxide (Li2O) from 68m, including 2m at 4.19 per cent Li2O;

22CRC005
3m at 1.25 per cent Li2O from 6m and
6m at 1.52 per cent Li2O from 26m and
3m at 1.21 per cent Li2O from 40m; and

22CRC007
5m at 1.86 per cent Li2O from 24m and
2m at 1.12 per cent Li2O from 47m and
4m at 1.83 per cent Li2O from 56m and
3m at 1.79 per cent Li2O from 71m.

“The first very encouraging drilling results are now to hand and drilling is continuing to intersect similar multiple-sheet pegmatites within a plunging, 100 metres-wide, structural zone,” Charger Metals managing director David Crook sad in the company’s ASX announcement.

“The drill holes reported here confirm high grade lithium from surface down to a vertical depth of 210 metres, and the ongoing drill program is expanding the extent of the spodumene-pegmatites along the strike direction and at progressively greater depths.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Dreadnought Resources Kicks Off 2023 Mangaroon Drilling Campaign

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THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) announced RC drilling has commenced at the company’s 100 per cent-owned Mangaroon project in the Gascoyne Region of Western Australia.

Dreadnought Resources is following up results achieved during 2022, from which it identified 43 kilometres of mineralised ironstones at Yin as well as REE-phosphorous pentoxide-titanium dioxide-scandium C1-C7 carbonatites.

In December 2022, Dreadnought reported an initial, independent, Inferred JORC Resource of 14.36 million tonnes at 1.13 per cent total rare earth oxides (TREO) over only 3km of the 43km of mineralised ironstones.

The company has RC drilling currently underway at Yin to build upon the current Resource as well as testing an Exploration Target along strike.

A second RC rig and a diamond rig will commence in March 2023.

The RC rig will focus on first pass, wide spaced drilling of the C1-C7 carbonatites.

The diamond rig will provide ongoing support for Resource upgrades, metallurgical testwork and geotechnical studies.

“After an extremely successful 2022 drilling program, we are excited to be back on site for what will be a busy year for Dreadnought as we seek to make additional discoveries and to rapidly grow Resources,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“After a short break, the team is ready to deliver on both the ironstones and carbonatites as we build the wider Gifford Creek Ferrocarbonatite Complex into a world class rare earth and critical metals region.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Golden Mile Resources Commences Drilling at Quicksilver Nickel-Cobalt Project

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THE DRILL SERGEANT: Golden Mile Resources (ASX: G88) has kicked off an eight hole diamond drill program at the company’s Quicksilver nickel-cobalt project in Western Australia.

Golden Mile Resources explained the drilling is part of Stage 3 metallurgical test work being undertaken to further de-risk the proposed flowsheet and provide confidence to proceed to a Scoping Study.

A secondary purpose of Stage 3 metallurgical test work is to carry out further tests on the viability of adding further value by downstream processing the nickel and cobalt as well as assessing the potential for REE by-products.

Stage 2 metallurgical test work completed last year had developed the company’s understanding of the saprolitic mineralisation at Quicksilver.

Golden Mile is continuing to develop the metallurgical flowsheet and is gaining more confidence in the process with results to date encouraging the continuation of this work.

“The company will also incorporate additional studies to explore downstream options to produce secondary nickel products suitable for electric vehicle (EV) batteries as well as high value industrial products which may add further value but is not required for the current business model,” Golden Mile Resources said in its ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Auroch Minerals Completes First Kangaroo Hill Lithium Project Drilling

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THE DRILL SERGEANT: Auroch Minerals (ASX:AOU) has recently completed a phase 1 reverse circulation (RC) drilling exploration program targeting Lithium–Caesium–Tantalum (LCT) pegmatites at the Kangaroo Hill lithium project (KHLP) in Western Australia. (Auroch Minerals 80%, Lodestar Minerals Ltd 20%).

Commencing in mid–January, the program tested three high priority LCT pegmatite targets that had been defined by surface geochemistry.

Twelve out of the 14 holes drilled encountered visual pegmatite lithologies with all pegmatite intercepts now delivered to the laboratory for assaying, with results expected over the next one to two months.

“We are pleased with the geology, having successfully intercepted pegmatites in 12 out of the 14 holes drilled and we now eagerly awaiting the assay results!” Auroch Minerals technical director Robin Cox said in the company’s ASX announcement.

“We have learnt much about the geometry of the pegmatite, however it is clear that further ground work is required to fully evaluate the potential of this project.

“We have commenced our geophysical review work and it is anticipated the magnetic litho-structural interpretation will assist in targeting pegmatites where there is no surface expression.

“The culmination of the drill hole assays, lithology and geophysical work will greatly assist the company in planning a highly targeted second phase of exploration at Kangaroo Hills!”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Calling Stumps at 2023 RIU Explorers Conference

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THE CONFERENCE CALLER: Wally Graham and Jaxon Crabb of Vertical Events recap on the 2023 RIU Explorers Conference with a special guest cameo appearance.