Once More into The Conference Breech for 2022

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THE CONFERENCE CALLER: The conference season comes to a close next week with the RIU Resurgence Conference in Perth.

As always, the line-up of companies in attendance and presenting will be varied in both commodities and market caps.

A quick look at the table to our left shows the Resurgence Conference has once again attracted companies that represent investment opportunity across the board.

De Grey Mining stands out with its $1.85 billion market cap, and it will be remiss of any market watcher to not take the opportunity to quiz technical director Andy Beckwith regarding the recent Gold Road Resources / Barrick Gold scuttlebutt being peddled across different media platforms.

One anomaly that stands out is the $1 market cap attributed to Burley Minerals. We put the code into the ASX machine a number of times hoping they had amended this, but that is what the ASX says, so that is what we report here.

We did our research well after the company had announced its acquisition of the Chubb Lithium project in Quebec, Canada, at least we were onto things.

Looking at the table we can see there are a lot of different numbers between $1.85 Billion and $1, which can only mean there are a lot of different stories on offer and, as we always say here at The Roadhouse, the in-person nature of a non-line conference enables Joe and Joanne Public the chance to ask questions.

The conference provides punters with the chance to check out the ‘Christmas stocking bargains’ on offer.

The market has taken a hit of late and now could be the time to take a well-informed plunge on some of the stocks on offer.

Remember, The Roadhouse is not an investment adviser, but merely an introductory service. Do your own homework or speak with appropriate professionals before making such investments.

Gold companies lead the roll call at 19 on the register, however, should we tote up the battery metals companies that include lithium, nickel, rare earths, and copper the tables are turned with just shy of 30 companies calling present when their name is called.

Keep an eye out on The Roadhouse web page next week as we drop all the interviews from Resurgence 2022.

There are companies attending we haven’t had the chance to chat with during the year, so we will be taking the opportunity to do so, and we encourage you to come along and do the same.

 

 

 

CHECK OUT THE CONFERENCE PROGRAM HERE

 

Black Cat Syndicate Spies Visible Gold in First Gabbro Veins Holes at Paulsens

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) is currently carrying out a program of underground diamond drilling at the company’s Paulsens gold operation in the north of Western Australia.

Black Cat Syndicate has completed the first six holes of the program into the Gabbro Veins that are in the footwall of the Paulsens decline and considered by the company as readily accessible for potential mining restart.

All six holes infilled historic high-grade intercepts for Resource upgrades as well as intersecting wide quartz veins (up to 2m wide) in the interpreted positions with assays for all holes expected in December 2022.

A bonus was visible gold intersected in three drillholes hosted in both thick quartz veins and narrow shears within the gabbro.

“Our first holes at Paulsens are targeting potential production areas adjacent to existing workings,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The Gabbro Veins are an overlooked opportunity that we believe have the potential to lead a restart scenario while we undertake the hunt for another Paulsens in both offset and repeat target positions.

“We are excited by what we see in these first holes given they intersect our interpreted structures and contain visible gold.

“Drilling will be ongoing at Paulsens to delineate near-term mining opportunities throughout the December 2022 quarter.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.blackcatsyndicate.com.au

 

Alchemy Resources Completes RC Drilling on Karonie Lithium Targets

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THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has completed its first Reverse Circulation (RC) drill program at the company’s 100 per cent-owned Karonie lithium-gold project near Kalgoorlie in Western Australia.

Alchemy Resources reported that geological logging of drillholes has defined multiple zones of pegmatites with zones up to 700 metres strike extent within the northern part of the Hickory prospect.

The company has interpreted these pegmatites to extend at least 150m from surface and remain open with varying widths from 1m up to 27m downhole.

The zone remains open along strike and to the west.

“The discovery of extensive thick stacked pegmatites at Hickory is an outstanding result,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“This confirms our model that mapped pegmatites are continuous at depth, have a stacked geometry and continue to the north and west under the shallow alluvial cover which extends for roughly three kilometres to the north masking any surface geochemical expression.

“We will now start planning follow-up programs so we can hit the ground running immediately once assays are received.

“In addition, we will also look at other techniques such as gravity and ground penetrating radar to try and outline pegmatites under alluvial cover.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.alchemyresources.com.au

 

 

Venture Minerals Claims Golden Grove North REE Discovery

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) claimed discovery of “very high-grade” rare earth elements (REE) surface mineralisation at the Vulcan prospect within the company’s Golden Grove North project in Western Australia.

Venture Minerals reported recent results included several values over one per cent Total Rare Earth Oxide (TREO) ranging up to 12.5 per cent TREO with 5,460 ppm (0.55 per cent) Praseodymium Oxide (Pr6O11) and 14,575 ppm (1.46 per cent) Neodymium Oxide (Nd2O3).

The company said the new REE target had been supported by historic soil sampling that was originally focused on Volcanic Massive Sulphide (VMS) style mineralisation that was also assayed for two REEs being Lanthanum (La) and Cerium (Ce).

Recently completed soil sampling, from which the Total Rare Earth Elements (TREE) were analysed to confirm and define the new discovery.

“The discovery of Very High-Grade Rare Earth mineralisation at one of our VMS prospects at Golden Grove North, effectively doubles the company’s exposure to the Rare Earth space, as it follows our recent Rare Earth discovery at Mount Lindsay,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“Clearly the company’s diverse portfolio of projects affords the unique opportunity for such discoveries, due to Venture’s strategic landholdings in areas with the potential to host multiple mineralised systems, consequently leading to a higher probability of exploration success.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.ventureminerals.com.au

 

VRX Silica Reports Arrowsmith North Mineral Resource and Ore Reserve Update

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THE DRILL SERGEANT: VRX Silica (ASX: VRX) announced an update to the Mineral Resource Estimate (MRE) and Ore Reserve Statement (ORS) for the company’s Arrowsmith North silica sand project, north of Perth in Western Australia.

VRX Silica reported a maiden Proved Ore Reserve of 9.2 million tonnes and updated total Ore Reserve of 221 million tonnes.

The updated Mineral Resource of 768 million tonnes at 98 per cent silica (SiO2), includes a Measured Resource of 10 million tonnes at 95.9 per cent SiO2.

The company explained the MRE update is based on an additional 130 close spaced grade control holes.

These holes were drilled as a pre-production activity to increase the resource confidence in the initial years of mining, and to produce a bulk sample for pilot scale metallurgical testwork and the generation of bulk samples for potential offtake partners.

“This updated Mineral Resource and Reserve is a culmination of significant metallurgical testwork and evaluation of the Resource to determine the premium products we can produce,” VRX Silica managing director Bruce Maluish said in the company’s ASX announcement.

“These products include sought after foundry sand as well as glassmaking sand suitable for flat glass, including automobile glass and also container glass.

“We have despatched large samples to a number of foundry and glassmaking companies in Korea, Japan and Taiwan for evaluation and subsequent discussions for offtake.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.vrxsilica.com.au

 

Mt Malcolm Mines Recommences Calypso Diamond Drilling

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THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) is has recommenced diamond drilling at the company’s Calypso prospect in Western Australia.

Mt Malcolm Mines explained the five-hole drill program follows on from previous drilling and is designed to test mineralised magnetite-altered porphyry zones that demonstrate increasing widths at depth.

The objectives of the current diamond drill program include a deep hole designed to test the lithological and structural architecture that was proposed off the back of the initial diamond drilling campaign.

It is anticipated this will provide understanding of the potential size of the mineralised system and delineate the targeting framework at depth.

The program is also aimed at extending the known mineralisation footprint beyond two previously reported holes that contained healthy significant gold intersections.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.mtmalcolm.com.au

 

Gateway Mining Scores RC Gold Results Along Caledonian-Evermore Trend

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THE DRILL SERGEANT: Gateway Mining (ASX: GML) reported assay results from Reverse Circulation (RC) drilling at the company’s Montague gold project in the Murchison Region of Western Australia.

Gateway Mining is drilling targeting extensions to known mineralisation along the major Caledonian-Montague Shear system, which hosts the Montague-Boulder and Evermore deposits within the project area.

The RC drilling was completed as part of a larger program designed to test extensions to existing deposits within the Montague Project area.

Gateway Mining was only able to complete two holes due to access restrictions caused by historical mining waste dumps and tails storage facilities.

However, both holes intersected wide zones of shearing with associated quartz veining within the interpreted structure at depth, returning assays of:

GRC1005
13 metres at 1.4 grams per tonne gold from 101m, including 2m at 6.4g/t gold; and

GRC912
18m at 0.5g/t gold from 106m.

“The strategic focus of much of our recent drilling has been to open up new avenues where we see the opportunity to make quantum leaps in terms of discovery and resource growth at the Montague gold project,” Gateway Mining managing director Mark Cossom said in the company’s ASX announcement.

“The Caledonian-Montague Shear System is clearly one such opportunity.

“We have now intersected significant primary mineralisation over a vast strike distance, from the Caledonian pit in the south to the Evermore deposit in the north.

“There are big gaps in the drilling, and we see a clear pathway to add further ounces and make further discoveries along this large, well-endowed shear zone system.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Web: www.gatewaymining.com.au

 

 

E79 Gold Mines Hits Multiple Zones of Significant Gold Anomalism

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THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) recently completed an air-core drilling program across Target 3 and Target 4 at the company’s Laverton South gold project in Western Australia.

E79 Gold Mines received assay results from the first 80 holes of the program, drilled at Target 3, which have demonstrated thick zones of gold anomalism.

A Central Core zone has been identified where a thick zone of anomalous gold persists until the end-of-hole.

Best results include:

22LRAC246
18 metres at 0.15 grams per tonne gold from 52m; (east end of drill line)

22LRAC256
8m at 0.21g/t gold from 48m;

22LRAC264
19m at 0.13g/t gold from 80m; and

22LRAC268
12m at 0.19g/t gold from 68m.

“The air-core program at Target 3 was to in-fill the wide spaced drill lines from the previous program and extend the anomaly to the south, where it remains open,” E79 Gold CEO Ned Summerhayes said in the company’s ASX announcement.

“The assays received so far are from the in-fill part of the program.

“The identification of a central core is an exciting development: in addition to being below the regional paleochannel, the central core target shows a thick zone of anomalous gold to the end-of-hole.

“The gold pathfinder elements, evidence of fluid flow and location close to a granite/sediment/mafic contact at the central core zone has analogies to large deposits in the region such as Victory (St Ives) and Sunrise Dam (AngloGold Ashanti), both of which were discovered under thick transported cover with RAB/AC drilling giving the first clues to the mineralisation.

“We look forward to testing this target at depth with the upcoming RC drilling program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Web: www.e79gold.com.au

 

 

Meeka Metals Claims New Wood Lode Gold Discovery

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THE DRILL SERGEANT: Meeka Metals (ASX: MEK) is pleased to report the discovery of a new lode at St Anne’s, part of the company’s 100 per cent-owned Murchison gold project in Western Australia.

Meek Metals’ recent shallow drilling at St Anne’s intersected a zone of strong oxide gold mineralisation, now called the ‘Wood’ lode, on a previously untested contact.

Assays include:

22SAAC165
16 metres at 3.48 grams per tonne gold from 48m, including 8m at 6.17g/t gold;

22SAAC164
12m at 2.48g/t gold from 76m, including 8m at 3.55g/t gold; and

22SAAC128
12m at 1.38g/t gold from 88m, including 4m at 2.27g/t gold.

Assays are pending for a further 25 shallow strike extension holes and drilling remains ongoing.

“The ongoing shallow drilling at St Anne’s continues to expand the footprint of high-grade oxide mineralisation within this large gold system,” Meeka Metals managing director Tim Davidson said in the company’s ASX announcement.

“The Wood lode is the first of a number of targets to be tested outside of the Driver and Iron lodes, which sit on the western mafic contact at St Anne’s and where we have been drilling since June 2022.

“This positive early result from the first target in our broader, but disciplined, target testing program highlights the growth opportunity available at our Murchison gold project.

“Reinforcing this is the success the team are having with deeper RC drilling at St Anne’s, which intersected high-grade and visible gold in fresh rock below the oxide horizon, and diamond drilling, which has intersected the shear zone with intervals of sulphides and quartz marking the lode position.

“Core processing is underway with first assay results from the diamond holes expected in December 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.meekametals.com.au

 

Alto Metals Encounters Wide Gold intercept at Indomitable

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THE DRILL SERGEANT: Alto Metals (ASX: AME) reported more results from ongoing drilling at the Indomitable Camp, within the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Alto Metals had designed the RC drilling program to be carried out at Indomitable and Indomitable North to infill and test extensions between and to the north-west of existing resources.

Extensional holes targeting the area between Indomitable and Indomitable North existing resource pit-shells delivered one of the highest gram-metre results drilled at Indomitable by Alto (SRC808).

Drilling intersected shallow gold in multiple holes returning results of:

SRC808
80 metres at 1.6 grams per tonne gold from 21m, including 10m at 5.2g/t gold from 43m;

SRC812
18m at 0.7g/t gold from 8m and 32m at 1.1g/t gold from 79m, including 6m at 2.1g/t gold from 87m; and

SRC803
18m at 1.1g/t gold from 47m, including 3m at 2.3g/t gold from 51m, and 5m at 3g/t gold from 129m, including 1m at 9.7g/t gold from 129m.

Alto explained the drilling is focused on increasing the current open-pitable 635,000 ounces a 1.6 grams per tonne gold resource at the Sandstone gold project, with an updated mineral resource planned for the March quarter in 2023.

Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.
“These results highlight the extensive mineralisation that exists well beyond the existing resource at Indomitable, with SRC808 intersecting a high-grade structure of 10 metres at 5.2 grams per tonne within an overall 80 metres at 1.6 grams per tonne from only 21m depth – which is one of our best results from Indomitable to date.

“A number of assays are still pending from our resource drilling at Indomitable, focused on further extending the resource and we look forward to receiving these in the coming weeks.

“With drilling now almost completed at Indomitable East, we are preparing to commence our maiden drilling program to test high-grade gold targets at the Oroya mine, which has not been drilled in over 15 years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.altometals.com.au