Kin Mining Deep Diamond Drilling Large-Scale Gold Targets

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) has kicked off its next phase of exploration and resource growth drilling at the company’s 100 per cent-owned 1.41 million ounces Cardinia Gold Project (CGP), located near Leonora in Western Australia.

Kin Mining has commenced an initial deep diamond drilling program to evaluate Induced Polarisation (IP) geophysical anomalies located below the Helens, Helens East, Cardinia Hill and Rangoon deposits.

A total of five separate targets have been identified and will be tested with a series of approximately 350 metres deep diamond holes into each.

This is the first generation of deeper targets to be tested at Cardinia and represents a big exploration development for the project.

Kin is also ramping up exploration activities elsewhere as part of its ongoing exploration campaign at the CGP.

This will involve a combination of Reverse Circulation (RC) and diamond drilling that is scheduled to commence later this month to further evaluate the under-explored Rangoon area, located within the Eastern Corridor area at Cardinia.

Drilling results from Rangoon and other prospects within this corridor over the past 12 months have reinforced the substantial endowment of the Eastern Corridor as a priority focus for exploration at the CGP.

“The current diamond drill program will test the first generation of deeper targets at Cardinia and continues our efforts to uncover new large-scale discoveries within the exciting Eastern Corridor,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“Preparations are also underway for a new phase of RC and diamond drilling at Rangoon, where we see excellent potential to add to the updated 95,000-ounce resource announced last quarter.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.kinmining.com.au

 

 

Gascoyne Resources Shuts Down Dalgaranga Gold Mine Operations

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THE BOURSE WHISPERER: Gascoyne Resources (ASX: GCY) has taken the decision to close operations at the company’s 100 per cent-owned Dalgaranga gold project in Western Australia for the time being.

Gascoyne Resources said the project had been hit hard in recent times by a culmination of abnormally high rainfall, labour shortages and COVID-19 impacts.

Things haven’t improved through October and into November, leading to reduced production levels, higher production costs and negative cash-flow from operations, which the Gascoyne Board has determined is not sustainable.

And even though it considers its portfolio of gold assets in Yalgoo, Gilbey’s North and Never Never to hold lots of blue sky potential, the transition to mining this higher-grade ore is not affordable and cannot be optimised at the current time given Gascoyne’s liquidity position.

Gascoyne indicated the following steps would be implemented immediately:

• Open pit mining and ore processing operations at Dalgaranga will be suspended;
• The 2.5 million tonnes per annum Dalgaranga mill will be transitioned to operating on a care and maintenance basis over the next 2-3 weeks and maintained in a state ready for a rapid resumption of production; and
• Most of the workforce currently at Dalgaranga will be demobilised.

“It is very disappointing to have to make this decision, particularly in light of all the hard work the exceptional team at Dalgaranga has put in over the past couple of years,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“The continued pressure of industry-wide cost inflation, approval delays and sub-par operational performance have contributed to the Board and I uniting in the view that continuing to operate in these challenging times is extremely high risk.

“We are committed to developing a sustainable +5-year solid mine plan targeting higher margin production and we strongly believe that this focus is in the best interests of the Company and our shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.gascoyneresources.com.au

 

Cygnus Gold Commences James Bay Resource Drilling

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THE DRILL SERGEANT: Cygnus Gold (ASX:CY5) has commenced drilling at the company’s Pontax lithium project in the James Bay lithium region of Quebec, Canada.

Cygnus Gold reported the 10,000 metres drill program will focus on both Resource definition and step out drilling over the next six months.

The company explained the initial focus of this first stage drill program is to target down dip and along strike extents of the known high-grade Pontax Central outcrop, which has existing known shallow, high-grade intercepts of up to 2.6 per cent lithium oxide (Li2O) from only 19.4 metres.

“We are delighted to be drilling such highly prospective lithium targets within just three months of acquiring the project,” Cygnus Gold executive director Michael Naylor said in the company’s ASX announcement.

“We know from previous drilling that there is significant high-grade spodumene over a 620 metres strike length.

“This initial phase of drilling is designed to extend that known mineralisation down dip and along strike.

“The bulk of existing drilling only scrapes the surface at around 80 metres vertical depth.

“The first few holes will test the potential to increase the size of the system rapidly.

“The Cygnus team has also just completed a recent site visit to assist with executing the mapping and sampling programs from which we are eagerly awaiting results.

“We are already seeing exciting results across the board with LiDAR proving to be a highly efficient tool in identifying vegetation-covered outcrop, with several new pegmatites now mapped and sampled across the project.

“With approximately $10 million in cash and commitments, it’s going to be an exciting six months as exploration begins to ramp up, with 10,000 metres of drilling just beginning.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.cygnusgold.com

 

Alicanto Minerals Hits Visual Sulphides at Greater Falun Project

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THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) reported visual zinc-copper-silver-lead in first drill hole at the Skyttgruvan-Naverberg target within the company’s Greater Falun project in Sweden.

Alicanto Minerals said drill hole GRO22-19 at the Skyttgruvan-Naverberg target intersected multiple zones of massive sulphide and semi-massive to disseminated sulphides over a 43 metres interval within the prospective limestone unit associated with an extensive skarn alteration.

The massive sulphide intersections consist of sphalerite, galena, chalcopyrite and pyrrhotite over discrete zones of mineralisation up to seven metres in width.

Native silver mineralisation has also been identified within the massive sulphide intervals.

Based on the visual mineralisation seen to date, a second diamond drillhole has commenced to target extensions of the mineralisation system.

“While still early days, to hit multiple zones of polymetallic massive sulphide in our first drill hole at one of our priority targets at the Greater Falun project is a great result,” Alicanto Minerals managing director Rob Sennitt said in the company’s ASX announcement.

“This result, along strike from the historic Falun Mine, builds on our thesis that the Greater Falun project is part of a major mineralised belt that forms part of a significant mining district in the region.

“We have already commenced a follow up hole to further identify the scope and extent of this discovery.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.alicantominerals.com.au

 

 

Thor Mining Hits High-grade Gold at Kelly’s Ridge

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THE DRILL SERGEANT: Thor Mining (ASX: THR) reported on recent drilling from the company’s Kelly’s Ridge prospect in the Eastern Pilbara of Western Australia.

Thor Mining said the drilling had encountered high-grade gold along Kelly’s Ridge were previous rock chip sampling at surface reported up to 15 grams per tonne gold and 535g/t silver.

The company received its best intercept to date of:

22RRC0052
4 metres at 12.2 grams per tonne gold from 194m.

“The intercept of 4 metres at 12.2 grams per tonne gold is an exceptional result under Kelly’s Ridge, especially given the depth of the 194 metres downhole, showing excellent grade continuity from the surface,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.

“This confirms the potential of the site as indicated by historical drilling. Furthermore, with more drilling results to come, we are looking forward to gaining further understanding of the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.thormining.com

 

St George Mining Intersects Pegmatites with Visible Lithium

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THE DRILL SERGEANT: St George Mining’s (ASX: SGQ) lithium search is paying early dividends with the company reporting encouraging results from its Mt Alexander project in the Goldfields of Western Australia.

St George Mining said there had been early indications that the maiden RC drill program has intersected lithium-bearing pegmatites below surface with rock chip samples returning assays of up to 3.25 per cent lithium oxide (Li2O).

High-grade lithium assays were returned in a second batch of rock chip samples submitted for laboratory assay,

MARK238
3.25 per cent Li2O, 225ppm caesium oxide (Cs2O), 53ppm Tantalum pentoxide (Ta2O5) and 1.24 per cent rubidium (Rb);

MARK235
1.89 per cent Li2O, 180 ppm Cs2O, 86ppm Ta2O5 and 0.63 per cent Rb;

MARK278
1.35 per cent Li2O, 307ppm Cs2O, 192ppm Ta2O5 and 0.77 per cent Rb; and

MARK250
1.24 per cent Li2O, 96ppm Cs2O, 93ppm Ta2O5 and 0.55 per cent Rb.

St George has a diamond drill rig on its way to Mt Alexander that will initially test for deeper extensions to the mineralised pegmatites and assist with the geological interpretation of the evolving lithium targets.

Several diamond holes will then be drilled to test high-priority nickel targets including strong EM conductors and the large seismic reflector located near the interpreted granite/greenstone contact south of the high-grade Cathedrals nickel-copper-PGE deposit.

“Exploration is in full swing at Mt Alexander and we are delighted with the positive results being delivered by our team in the field,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“Exciting news is starting to emerge from our first-ever lithium drill program at the Jailbreak prospect which – though still at an early stage – has already confirmed the near-surface continuity of lithium-bearing pegmatites.

“The latest assays for rock chip samples have delivered our highest-grade lithium values at Jailbreak, providing further validation of the potential for pegmatite-hosted lithium mineralisation at Mt Alexander.

“Significantly, the high-grade assays now extend across five pegmatites mapped across a broad area.

“The drilling program will increase in scope next week with diamond drilling scheduled to commence alongside the ongoing RC campaign.

“With drilling of both our nickel and lithium targets at Mt Alexander, the next few weeks will be a very productive end to the year for St George and we look forward to reporting more results to shareholders as they come to hand.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.stgm.com.au

 

Great Boulder Resources Continues High-Grade Results at Mulga Bill

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THE DRILL SERGEANT: Great Boulder Resources reported drilling results from the Mulga Bill prospect at the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources received results from RC drilling carried out at Mulga Bill during August and September this year that was conducted at both the High Grade Vein (HGV) area in the north and the Primary Zone in the centre of the Mulga Bill prospect.

Results include:

22MBRC061
13 metres at 25.5 grams per tonne gold from 96m, including 4m at 76.9g/t gold from 100m, and 5m at 8.65g/t gold from 182m, including 1m at 35.4g/t gold from 183m (HGV area);

22MBRC067
10m at 28.74g/t gold from 96m, including 4m at 29.4g/t gold from 96m and 1m at 121g/t gold from 101m (Central Zone); and

22MBRC069
14m at 5.22g/t gold from 92m, including 4m at 7.56g/t gold from 96m and 2m at 20.47g/t gold from 102m (Central Zone).

“These results demonstrate exciting upside across a number of prospects,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“Firstly, we have some extremely high-grade results in the central area of Mulga Bill which has seen less drilling than the HGV area.

“These hits highlight the potential for additional high-grade zones to the south.

“Secondly, we have extended the HGV area further north and opened up the potential that it may continue north of the cross-cutting Proterozoic dyke.

“This area remains relatively untested by RC drilling so there is a lot of scope for extensions in that direction.

“Thirdly, the intersections on our new eastern high-grade lode discovery from a small number of test holes provide confidence in our geological model and targeting process.

“Lastly, and significantly is the ongoing identification of new targets coming from our AC drilling.

“With new areas to test at Flagpole, Loaded Dog and Ironbark South we have a very busy program ahead of us.”

 

Web: www.greatboulder.com.au

 

Rox Resources Boosts Mt Fisher – Mt Eureka Gold Resource

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) reported an increase to the Mineral Resource Estimate (MRE) for the Mt Fisher gold project (Rox 100%) and the Mt Eureka project (Cullen Resources Joint Venture).

The total Indicated and Inferred Mineral Resource for Mt Fisher – Mt Eureka now stands at 3.5 million tonnes at 1.65 grams per tonne gold for 187,000 ounces of contained gold.

“We are very pleased to announce this significant 110 per cent increase to the Mt Fisher – Mt Eureka Gold Resource and at a discovery cost of just $7 per ounce, it is a testament to the hard work and quality of our exploration geology team,” Rox Resources managing director Rob Ryan said in the company’s ASX announcement.

“Whilst the 3.2 million ounce Youanmi project sits at the forefront of the company’s future plans, the quality of our exploration asset at Mt Fisher should not be understated.

“The Mt Fisher greenstone belt has vast untapped potential, and we will continue to evaluate corporate and exploration opportunities to advance the project.”

The Mt Fisher – Mt Eureka gold project is in the Northern Goldfields, approximately 500 kilometres northeast of Kalgoorlie (about 120km east of Wiluna) within the Mt Fisher greenstone belt.

This belt is located 40km east of the prolific Yandal greenstone belt, host of large gold deposits including Jundee, Bronzewing and Mt McClure.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.roxresources.com.au

 

Azure Minerals Encounters Further Strong Ridgeline Nickel Mineralisation

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported high-grade assay results from the Ridgeline nickel-copper-cobalt sulphide deposit within the company’s Andover Project (60% Azure / 40% Creasy Group) in the West Pilbara region of Western Australia.

Azure Minerals has completed 61 diamond core holes in Mineral Resource definition drilling at the Ridgeline deposit that encountered high-grade shoots of massive and semi-massive sulphides hosted within broad halos of lower grade disseminated sulphide mineralisation.

Results from the latest batch of assays include:

ANDD0172
31.8m at 1.41 per cent nickel, 0.88 per cent copper and 0.06 per cent cobalt from 434.1m, including 12.1m at 1.77 per cent nickel, 1.21 per cent copper and 0.08 per cent cobalt from 434.1m and: 15.3m at 1.4 per cent nickel, 0.8 per cent copper and 0.06 per cent cobalt from 450.6m;

ANDD0176
19.3m at 1.44 per cent nickel, 0.4 per cent copper and 0.06 per cent cobalt from 444.2m, including 6.2m at 1.68 per cent nickel, 0.45 per cent copper and 0.08 per cent cobalt from 444.2m and 7.6m at 2.16 per cent nickel, 0.59 per cent copper and 0.09 per cent cobalt from 455.9m; and

ANDD0168
27.7m at 1.04 per cent nickel, 0.43 per cent copper and 0.04 per cent cobalt from 478.3m, including 4.9m at 1.47 per cent nickel, 0.65 per cent copper and 0.06 per cent cobalt from 478.3m and 4.5m at 1.85 per cent nickel, 0.49 per cent copper and 0.08 per cent cobalt from 492m and 5m at 1.73 per cent nickel, 0.53 per cent copper and 0.07 per cent cobalt from 501m;

“The Ridgeline nickel-copper-cobalt deposit continues to grow in size and scale with another round of extremely positive drill results adding significantly to the known mineralised zones,” Azure Minerals managing director Tony Rovira said in the company’s AX announcement.

“The steeply plunging strongly mineralised shoots demonstrate significant vertical extent and still remain open up and down plunge.

“The central cores of these shoots are characterised by zones of high grade semi-massive to massive nickel and copper sulphides surrounded by a broad halo of disseminated sulphide mineralisation.

“We now have sufficient drill density for geological modelling of the deposit and to complete a Mineral Resource Estimate.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.azureminerals.com.au

 

Hammer Metals Completes Kalman Ore Sorting Trial

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THE DRILL SERGEANT: Hammer Metals (ASX: HMX) received pleasing results from preliminary ore sorting test-work completed on samples taken from the company’s Kalman copper-gold-molybdenum-rhenium deposit, south-east of Mt Isa in North-West Queensland.

Hammer Metals explained the aim of this trial test work was to determine whether ore sorting technology could be applied to ore from the Kalman deposit.

Trial test work using a bulk sample taken from the Kalman deposit has shown that approx. 80 per cent of ore can potentially be recovered with an approx. 40-45 per cent reduction in mass processed.

Copper grade increase of 28 per cent (0.71 per cent to 0.91 per cent Cu) with a mass reduction of 35 per cent and recovery of 83.4 per cent;

Gold grade increase of 39 per cent (0.23g/t to 0.32g/t Au) with a mass reduction of 35 per cent and recovery of 91 per cent; and

Molybdenum grade increase of 103 per cent (0.33 per cent to 0.67 per cent Mo) with a mass reduction of 62 per cent and a recovery of 77 per cent.

The favourable initial results have given Hammer confidence to embark on a larger program of testwork.

“This is a tremendous result from early-stage test work and shows that the Kalman deposit is amenable to ore sorting technology,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.

“Processing costs can represent a significant proportion (>50%) of overall production costs and reducing the amount of sub-economic material going through a grinding and flotation circuit could significantly increase project returns.

“Similarly, an increased head grade through the grinding/flotation circuit may lead to significant capital savings by reducing the required throughput capacity of the plant.

“It was pleasing to see the copper and molybdenum ore domains both behave in a similar manner to the same sort algorithm.

“The overall benefits of ore sorting will not only apply to reduced operating and capital costs but are also likely to result in an expanded resource when the upgrade factors are applied within the Kalman Resource model.

“It’s an exciting time for the Kalman project as we embark on further shallow extensional drilling.

“Successful drilling and learnings from the ore sorting test work will enable Hammer to review and upgrade the existing resource model.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Web: www.hammermetals.com.au