Medallion Metals Adds Gift Resource to Ravensthorpe Gold Project

/in , /by

THE DRILL SERGEANT: Medallion Metals reported a new initial JORC 2012-compliant Mineral Resource Estimate (MRE) at the Gift deposit within the Kundip Mining Centre (KMC) that is part of the company’s Ravensthorpe Gold Project (RGP) in Western Australia.

The Gift MRE has come in at 1.26 million tonnes at 1.4 grams per tonne gold for 60,000 ounces of gold and is based on approx. 11,000 metres of drilling completed between 2008-22 by a string of previous owners.

The inclusion of Gift to the resource inventory takes the Ravensthorpe Gold Project to a MRE of 1.47 million ounces gold equivalent (AuEq) at 2.5g/t AuEq.

Medallion anticipates a further MRE update based on between 12,000m and 15,000m of completed drilling will be released in the early part of 2023 that will form the basis of a Pre-Feasibility Study to be completed later this year.

“The inclusion of Gift to the Kundip Mineral Resource inventory for the first time is important on two fronts,” Medallion Metals managing director Paul Bennett explained.

“Firstly, it further highlights the potential of Medallion’s ground holding at Ravensthorpe being the third maiden resource declared since listing in 2021.

“Gift looks a lot like Harbour View so the continuation of the structure at depth and along strike represents further significant discovery upside.

“Then there is the alluvial component which represents approximately 57 per cent of the Gift resource as it stands.

“That mineralisation occurs as a broadly continuous package of free digging sediments within ten metres of surface.

“While moderate in terms of gold grade, the material is expected to generate high margins and is an obvious target early in the mine plan to de-risk a start-up.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Ioneer Receives US Dept of Energy Loan Offer of US$700m for Rhyolite Ridge

/in , /by

THE BOURSE WHISPERER: Ioneer (ASX: INR) has received Conditional Commitment from the US Department of Energy (DOE) for a proposed loan of up to US$700 million to develop the company’s Rhyolite Ridge lithium boron project.

The Rhyolite Ridge lithium-boron project is the most advanced undeveloped lithium project in the United States, which the company has on track to provide an environmentally sustainable, long-life source of both lithium and boron for delivery into the US domestic electric vehicle (EV) supply chain.

The proposed loan is to be made under the DOE Loan Programs Office’s Advanced Technology Vehicles Manufacturing program for a term of approximately 10 years with an interest rate fixed from the date of each advance for the term of the loan at applicable US Treasury rates.

The Conditional Commitment follows nearly two years of extensive and detailed technical, legal, and market due diligence by the DOE.

The proposed DOE loan coupled with Sibanye-Stillwater’s expected equity contribution to secure a 50 per cent interest in the project, is anticipated to fund a hefty amount of preliminary capital expenditure.

The DOE’s conditional commitment reflects continued strong and dedicated support under the Biden Administration to develop a US domestic EV supply chain.

“We are pleased to have finalised the term sheet and received a Conditional Commitment from the DOE for up to a US$700m loan from the ATVM program,” Ioneer managing director Bernard Rowe said.

“The Conditional Commitment is the culmination of 23 months of discussions with and due diligence by the Loan Programs Office and it represents a significant milestone for Rhyolite Ridge.

“We look forward to working with the DOE and Sibanye-Stillwater to complete the remaining milestones to start construction of Rhyolite Ridge.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Galan Lithium Reports Successful 2022 Pumping Test Program

/in , /by

THE DRILL SERGEANT: Galan Lithium announced completion of the company’s 2022 brine pumping test campaign at the HMW Project in Catamarca Province, Argentina.

A total of three production pumping wells were completed during the second half of 2022 – two at Pata Pila (PPB-01-21 and PPB-02-22) and one at Rana de Sal (PBRS-01-21)

The results from the three production wells tested at HMW, confirmed that the HMW Project is ready to provide the brine flow and quality for the 4,000 tonnes per annum LCE pilot development.

Strong extraction and production well chemistry results from all three long-term brine pumping tests support the Definitive Feasibility Study (DFS) as it approaches completion.

Further exploration drilling and sampling has continued across the HMW Project tenements to complement surface geophysical work.

“The positive long-term pumping brine test results are extremely significant by providing certainty of brine flow extraction, lithium grade, and cementing the HMW reserve model,” Galan Lithium exploration manager Álvaro Henríquez said.

“We have further demonstrated a high production capacity at both Pata Pila and Rana de Sal.

“Importantly, we have extended the reservoir quality throughout the main (uphill) alluvial deposits of Pata Pila.

“Recent results at Pucara de Salar also show further potential to expand the total HMW Project resource and reserve.

“All of the above factors, keep adding empirical support for the world-class nature of the HMW Project and its continued rapid advancement and development to production.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Black Cat Syndicate Declares Coyote One of Australia’s highest-grade deposits

/in , /by

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) provided an updated JORC 2012 Mineral Resource at Coyote Central, part of the company’s 100 per cent-owned Coyote Gold Operation in Western Australia

Black Cat has completed the first combined Resource over Coyote Central since 2008 that has increased the total Resources at the Coyote Gold Operation by 32 per cent from 488,000 ounces at 5.1 grams per tonne gold to 645,000 ounces at 5.5g/t gold.

Total Indicated Resources increased 105 per cent from 150,000 ounces at 3.8g/t gold to 307,000 ounces at 5.3g/t gold.

The underground Resource at Coyote Central increased to 356,000 ounces at 14.6g/t gold (51% Indicated), making Coyote Central one of the highest-grade deposits in Australia.

“With our new geology model and just five months of drilling, we have demonstrated that Coyote Central is one of the highest-grade underground deposits in Australia, containing 356,000 ounces at 14.6 grams per tonne gold,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“We have also substantially increased the total Coyote Central Resource to 424,000 ounces at 8.8 grams per tonne gold, with average ounces per vertical metre of greater than 1,000 ounces.

“Furthermore, the new Resource currently extends to 400 metres below surface even though there is known mineralisation down to 700 metres and remains open beyond that.

“We expect to further extend the Resource with additional drilling.

“It is exciting to have already demonstrated the grade and scale potential of Coyote within such a short period of time.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Auroch Minerals Confirms Kangaroo Hills LCT Pegmatites

/in , /by

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) reported assay results from pegmatite rock chip samples taken at the company’s 80 per cent-owned Kangaroo Hills Lithium Project (KHLP) in Western Australia (Lodestar Minerals 20%).

Auroch Minerals said the results achieved had exceeded its expectations, returning 2.37 per cent lithium oxide (Li2O) and 0.17 per cent Li2O.

The company made note that the mineralised outcrops it encountered are located over 600 metres south-east of drill hole NPRC084 that provided the first hit of lithium mineralisation observed at KHLP (6m at 1.38 per cent Li2O from 198m) in November 2022.

Auroch considers the latest results could potentially expand the mineralised footprint of the project.

“The discovery of outcropping mineralised pegmatites at a different location to the earlier November 2022 discovery at the Kangaroo Hills project is extremely exciting,” Auroch Minerals technical director Robin Cox said in the company’s ASX announcement.

“Just as exciting are the elevated pathfinder elements for LCT pegmatite in the weathered outcrops across the project.

“The company now has confirmed three high priority targets that present the potential for significant strike length mineralisation and will be tested in the first phase of drilling at Kangaroo Hills.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caspin Resources Encounters Copper at Surface at Mount Squires Project

/in , /by

THE DRILL SERGEANT: Caspin Resources (ASX: CPN) reported on recent activity at the West Musgrave nickel-copper extension at the company’s Mount Squires project in the West Musgrave region of Western Australia.

Caspin Resources declared the discovery of surface copper mineralisation along an 8km copper geochemical anomaly in November – now known as the Sienna prospect – where it has now completed extensive exploration programs of drilling, soil and rock chip sampling as well as airborne geophysics.

Assays carried out on these samples have returned high-grade copper values up to 10.6 per cent from a small malachite-rich outcrop within a broader area of mafic outcrop covering an area of approximately 2.5 square kilometres.

All up, a total of four samples were collected from this outcrop, averaging 7.1 per cent copper, including elevated levels of gold (up to 0.1g/t) and silver (up to 6.9g/t).

“It is fantastic to have confirmation of high-grade copper mineralisation at the newly proclaimed Sienna prospect,” Caspin Resources CEO Greg Miles said in the company’s ASX announcement.

“But just as important is to see the association of other metals such as platinum and palladium that are commonly associated with magmatic sulphide deposits in the West Musgrave region.

“More important still, is that we’re also seeing anomalous copper and PGE mineralisation in rock chips on several locations along the strike of a large eight kilometres-long copper and palladium anomaly.

“This gives us confidence that we’ve identified a new mineralised intrusion, or suite of intrusions, with the potential for a discovery or discoveries of significant scale.”

Caspin indicated it was now awaiting results from a further 1,200 soil samples along the West Musgrave nickel-copper corridor which it suggested will assist evaluation of additional copper (and nickel) anomalies along this trend and possibly define drill targets or additional geophysical surveying for its 2023 field campaign.

Results are also still to come from aircore drilling in the One Tree Hill area near the eastern tenement boundary as well as the Duchess prospect, which recently returned encouraging grades of gold, silver, copper and molybdenum.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Metal Hawk Gets Diamond Drilling Underway at Berehaven

/in , /by

THE DRILL SERGEANT: Metal Hawk (ASX: MHK) has a program of diamond drilling underway at the company’s Berehaven nickel project on the outskirts of Kalgoorlie in Western Australia.

Metal Hawk has been carrying out systematic exploration at Berehaven since its discovery of high-grade nickel sulphide in September 2021 at the Commodore prospect, located five kilometres north of the Blair nickel mine.

The company has kicked off diamond drilling at the Torana prospect that is located about 1.5km north and along strike from Commodore, targeting a strong late-time off-hole DHEM (downhole electromagnetic) conductor.

“As we progress our systematic search for nickel sulphides at Berehaven, with deeper drilling we are gaining a better understanding of the mineralised system beneath the zone of extensive weathering,” Metal Hawk managing director Will Belbin said in the company’s ASX announcement.

“This is the first diamond drillhole at Torana and is testing a compelling DHEM massive nickel sulphide target.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.metalhawk.com.au

 

 

Charger Metals Commences Drilling at Medcalf Spodumene Prospect

/in , /by

THE DRILL SERGEANT: Charger Metals (ASX: CHR) has commenced drilling at the company’s Lake Johnston lithium project in Western Australia.

Charger Metals reported commencement of a program of up to 40 reverse circulation drill holes testing the Medcalf spodumene prospect where previous fieldwork had identified a spodumene-pegmatite swarm, comprising about 20 anastomosing pegmatite dykes that outcrop in an area 800 metres long within a 300m wide corridor.

Charger has mapping continuing to identify additional spodumene-pegmatite outcrops in this area.

“Charger Metals has commenced drilling its maiden drilling program into the Medcalf Spodumene prospect,” Charger Metals managing director David Crook said in the company’s ASX announcement.

“The initial program aims to test a 300m by 800m outcropping pegmatite swarm.”

The Lake Johnston lithium project is located 450 kilometres east of Perth.

Charger’s predominately 70 per cent interest is through a Joint Venture, with the remaining 30 per cent held by Lithium Australia (ASX: LIT).

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.chargermetals.com.au

 

Greenstone Resources Hits Shallow High-Grade Gold Intercept at Burbanks

/in /by

THE DRILL SERGEANT: Greenstone Resources (ASX: GSR) reported a big gold hit from the company’s Burbanks gold project outside Coolgardie in Western Australia.

Greenstone Resources declared a Phase-1 drill campaign it has underway had already returned multiple high-grade drill intersections at Burbanks, including:

BBRC371D
7 metres at 57.84 grams per tonne gold from 90m, including 1m at 375g/t gold from 90m;

BBRC373D
3m at 4.18g/t gold from 17m, including 1m at 10g/t gold from 19m; and

BBRC371D
2m at 5.88g/t gold from 38m.


“We are highly encouraged by the first results from the Phase-1 drill campaign at Burbanks, having returned multiple high-grade intercepts in the first holes drilled which are in line with the historical underground production grades from the Burbanks gold project of 324,000 ounces at 22.7 grams per tonne gold,”Greenstone Resources managing director and CEO Chris Hansen said in the company’s ASX announcement.

“Furthermore, with BBRC371D having returned 1 metre at 375 grams per tonne gold, serves to place the Burbanks gold project in the top ten gold intercepts for predevelopment projects in Western Australia for 2022.

“Importantly these most recent intercepts serve to highlight the potential to significantly increase the resource base at Burbanks over the coming months through the completion of the 10,000 metre Phase-1 drill campaign which is targeting the unclassified mineralisation supporting the Exploration Target.

“Following the completion of the Phase-1 drill campaign in March 2023, we look forward to testing the broader strike and depth extensions at Burbanks, which remain open in all directions and are not included in the existing Resource or Exploration Target.”

 

TO READ THE FULL ANNOUNCEMENT:

CLICK HERE

 

Web: www.greenstoneresources.com.au

 

Miramar Resources Steps Out High-Grade Gold at Glandore East

/in , /by

THE DRILL SERGEANT: Miramar Resources (ASX: M2R) reported a diamond drilling encounter with high-grade gold mineralisation at the company’s Glandore project near Kalgoorlie in Western Australia.

Miramar Resources achieved its recent gold hit Glandore East where drill hole GDDD004 was drilled 150m north of historical high-grade diamond drill intersections and intersecting:

0.8 metres at 12.6 grams per tonne gold, including 0.4m at 23g/t gold.

Miramar claimed its drilling efforts have now confirmed the presence of high-grade gold mineralisation over a strike length of approximately 240 metres with mineralisation remaining open along strike and at depth.

“The new results are extremely significant as they have substantially increased the strike length of high-grade bedrock gold mineralisation intersected to date,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“In addition, the new results also reinforce the strong relationship between the shallow aircore intersections and deeper high-grade bedrock gold mineralisation.

“The aircore gold footprint at Glandore East stretches for well over a kilometre, but we have only tested a small portion of the total strike length with deeper drilling so far.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.miramarresources.com.au