Hot Chili Heightens Cortadera’s Open Pit Potential

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THE DRILL SERGEANT: Hot Chili (ASX: HCH) reported recent drill results achieved from the company’s Cortadera copper-gold discovery in Chile.

Hot Chili said the results had continued to expand the deposit ahead of an anticipated global resource upgrade for the company’s Costa Fuego coastal copper development.

The company’s drilling in late 2021, focussed on expanding any remaining open flanks on each of Cortadera’s three porphyries and completing required in-fill drill holes for upgrading resource classification.

Initial results analysed from shallow Reverse Circulation (RC) drilling across Cuerpo 1 and Cuerpo 2 has confirmed wide intersections of copper-gold mineralisation from surface across both porphyries.

Three months of drilling results from the end of the company’s 2021 drilling campaign at Cortadera are being compiled and further announcements are expected.

The new drill results from the Cortadera copper-gold porphyry deposit confirm growth of shallow resources at both Cuerpo 1 and 2.

These include:

CRP0148
156m at 0.4 per cent copper equivalent (CuEq) (0.4 per cent copper, 0.1 grams per tonne gold) from surface, including 32m at 0.6 per cent CuEq (0.5 per cent copper, 0.2g/t gold) from 90m depth; and

CRP0183
80m at 0.4 per cent CuEq (0.4 per cent copper, 0.1g/t gold) from 10m depth, including 12m at 0.6 per cent CuEq (0.6 per cent copper, 0.1g/t gold) from 44m depth.

“We commence the year with $34 million in treasury, 100 percent ownership of Cortadera, Glencore as a strategic investor and our company now consolidated and dual-listed in Canada,” Hot Chili managing director Christian Easterday said in the company’s ASX announcement.

“It is pleasing to see further growth in Cortadera’s open pit potential with these new drill results and we look forward to announcing further results soon.

“A resource upgrade this quarter and a combined pre-feasibility study in the third quarter will position Costa Fuego as a production front-runner in the senior copper development space this year.

“In addition, we have kicked off our next phase of growth, with first drilling well underway across the first of several large exploration targets we will be testing this year, all capable of materially lifting the scale and economics of Costa Fuego even further.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@hotchili.net.au

 

Web: www.hotchili.net.au

 

OZZ Resources Increases Leonora Tenement Holding

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THE BOURSE WHISPERER: OZZ Resources (ASX: OZZ) has made a strategic acquisition in the form of a new tenement holding in the Leonora mining district of Western Australia.

OZZ Resources acquired two additional Exploration Licences covering an area of 63 square kilometres adjacent to the company’s recently acquired Pinnacle Well project, located 25km north of Leonora and immediately to the east of OZZ’s existing Mt Davis project.

The newly acquired area has had limited drilling since the early 2000s, despite the presence of a prospective greenstone belt and structural preparation from the district-scale Keith-Kilkenny Shear Zone.

Transported cover sitting over most of the tenement area has restricted historical exploration.

In addition to the gold potential that OZZ considers in play, the tenements lie on the same structures and lithologies as the Jaguar base metal deposits, located 25km to the north.

“Following our acquisition of the Pinnacle Well project in November, this acquisition further consolidates our land-holding in the world-class Leonora district, with the proximity of the tenements to our existing projects delivering significant synergies for our exploration efforts,” OZZ Resources managing director Jonathan Lea said in the compay’s ASX announcement.

“We are planning extensive drilling programs targeting both gold and base metal mineralisation across the Pinnacle Well consolidated ground package in 2022, with the new tenure expected to yield numerous drilling targets this year and beyond.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ozzresources.com.au

 

Web: www.ozzresources.com.au

 

Predictive Discovery Scores Impressive Bankan Gold Hit

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THE DRILL SERGEANT: Predictive Discovery (ASX: PDI) reported new results from diamond drilling completed at the company’s Bankan gold project in Guinea.

The results, encountered from depth at NE Bankan include:

BNERD0103
48 metres at 2.1 grams per tonne gold from 562m, and 8m at 1.4g/t gold from 613m; and

BNERD0104
7m at 1.02g/t gold from 516m, and 33m at 4.5g/t gold from 536m, including 8m at 13.4g/t gold from 547m.

Both holes intersected broad zones of gold mineralisation more than 100m below the current US$1,800 per ounce resource pit shell.

Predictive Discovery said the BNERD0103 result reinforced the southern plunge of the gold mineralised zone at NE Bankan, while the BNERD0104 intercept provides further confirmation of the consistency of the core high-grade gold zone.

“This deeper drilling continues to extend the high-grade zone, now more than 100 metres below the open-pit, confirming Bankan as one of the most exciting gold deposits globally,” Predictive Discovery managing director Andrew Pardey said in the company’s ASX announcement.

“The company has twin focuses of growing and infilling the known deposits at NE Bankan and Bankan Creek and also a continuing search for further new gold deposits.

“Technical director Paul Roberts is directing a range of aggressive programs designed to uncover new deposits along Bankan’s 35 kilometres-long gold corridor.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@predictivediscovery.com

 

Web: www.predictivediscovery.com

 

 

Drillers Get Straight Back to Work After Holiday Break

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THE DRIL SERGEANT: There is plenty of drill bit action around the traps as companies gear up after the Christmas and New Year break.

 

Battery Minerals (ASX: BAT) announced it will soon resume drilling at the company’ Stavely-Stawell copper-gold project in Victoria.

The company has received confirmation that an aircore rig will return to site in late January with aircore drilling activity set to focus on defining gold-copper targets in the project’s Frying Pan-Cosmopolitan-Cox’s Find prospect areas.

The drilling will be supported by four-acid geochemical analysis and the recommencement of Falcon airborne gravity surveying.

The drilling comes at a time when recently appointed experienced resources executive and geologist Peter Duerden steps up to the plate to take over as managing director and David Flanagan making the move executive chairman to non-executive chairman.

 

E79 Gold Mines (ASX: E79) is another explorer bringing the drill rigs out from summer storage.

E79 Gold has re-commenced drilling operations over the company’s Laverton South gold project in WA.

E79 Gold listed on the ASX last year on the back of a $7 million IPO armed with two flagship projects, the Laverton South project in the Laverton gold district and the Jungar Flats project in the North Murchison region.

“We commenced our initial 25,000 metres aircore program at Laverton South in late November 2021 and, after a short break for Christmas and New Year, we are excited to be back into the field to complete the balance of this initial program,” E79 Gold CEO Ned Summerhayes said in the company’s ASX announcement.

“The first drill target has already had 3,330 metres of drilling so far and we will test a number of additional targets through to the end of the program.

“Meanwhile, the gravity survey at Jungar Flats in the North Murchison region commenced in December and will finish in mid-late January.

“This survey will allow us to gain a better understanding of the geology of the project and focus our exploration efforts moving forward.”

 

Dundas Minerals (ASX: DUN) recommenced Reverse Circulation (RC) drilling at the company’s Kokoda gold prospect in the Albany-Fraser Orogen of WA.

The company has completed eleven of a planned fifteen drill holes, so the Kokoda program is expected to be finalised quickly, after which drilling will move to the Jumbuck nickel prospect located approximately 8km to the west of Kokoda.

At Jumbuck, Dundas will be following up on historic rotary air blast (RAB) drilling that was drilled in 2011, pre-dating discovery of the Nova nickel deposit, which is located approximately 116km to the northeast of Jumbuck.

Dundas has also re-processed historic electro-magnetic survey data which partially covers the prospect.

This has identified several late-time conductive anomalies that are untested by drilling.

 

Black Cat Syndicate (ASX: BC8) has recommenced RC drilling at the company’s Kal East gold project outside Kalgoorlie in WA.

The RC drilling recommenced at Kal East with two rigs operating.

The first of these is drilling at the Fingals Mining Centre targeting extensions to the current Resource of 4 million tonnes at 2.2g/t gold for 275,000 ounces.

This drilling will systematically test the multiple shallow targets surrounding the Fingals Fortune deposit that Black Cat identified during November 2021.

The second RC rig is continuing at the Jones Find deposit, finishing a program the company commenced in December 2021.

Jones Find has a current Resource of 0.8 million tonnes at 1.3g/t gold for 33,000 ounces and is located only 1.5km to the east of the planned Kal East processing facility.

“Drilling has recommenced with two RC rigs operating at Kal East, focussed on extending current Resources at Jones Find and Fingals Fortune,” Black Cat managing director Gareth Solly said

“Resource upgrades are also underway at the Majestic underground and the planned open pit at Jones Find.

“In addition, discovery drilling is planned around our main mining centres as we follow up on numerous encouraging results from 2021.

“The team will be concluding studies for maiden Ore Reserves in the March 2022 quarter.”

 

Eagle Mountain Mining Drills Oracle Ridge Resources Expansion Potential

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported assays it has received for seven drill holes completed at the company’s 100 per cent-owned Oracle Ridge Mine project in Arizona, USA.

Eagle Mountain reported the high-grade copper assays were achieved at the Western Talon area, which sits outside the existing JORC Mineral Resource of 12.2 million tonnes at 1.51 per cent copper for 184,000 tonnes contained copper.

New assay results received include:

WT-21-43
0.8m at 7.75 per cent copper, 258 grams per tonne silver and 2.54g/t gold;

WT-21-44
13.4m at 1.98 per cent copper, 15.96g/t silver and 0.35g/t gold, within 61.5m at 1.07 per cent copper, 9.87g/t silver and 0.14g/t gold; and

WT-21-45
3.1m at 6.85 per cent copper, 32.23g/t silver and 0.13g/t gold, within 74.4m at 0.93 per cent copper, 6.92g/t silver and 0.1g/t gold.

Drilling recommenced at Oracle Ridge on 3 January 2022 after a short break over Christmas. Two rigs will continue drilling at the Talon, focussing on the Western Talon and potential mineralisation between WT-21-31 and the Leatherwood Mine. Two additional drill pads are currently being established to facilitate better drill positions.

The third rig is testing for expansions to the existing Resource in the central part of the mine area. After this stream of work is completed, the rig will move towards the northern part of the mine area where several targets have been delineated with strong potential to add mineralisation through step-outs as well as infill of broadly spaced historical holes.

“We are delighted that drilling continues to deliver further strong results which supports the upside prospectivity at Oracle Ridge,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“All these results are outside the existing JORC Mineral Resources Estimate (JORC MRE), further supporting the potential to build our mineral resources.

“These results are from the Wave Zone, part of the Western Talon, which continues to excite us with a combination of both high-grade mineralisation and broad mineralised zones which may be more amendable to larger scale mining methods with relatively lower mining costs on a unit basis.

“To provide improved access to target this prospective area, we are currently constructing two new pads above the historic Leatherwood mine which reported historic production of 12 per cent copper, 200 grams per tonne silver and one gram per tonne gold.

“The longer turnaround time for assays means we now have 39 holes pending results.

“This is certainly disappointing, although not unique as these delays are impacting most companies in our sector.

“We remain on track to deliver an update on our JORC MRE in Q1 2022 which will include these latest results.”

 

 

Email: info@eaglemountain.com

 

Web: www.eaglemountain.com

 

Resource Sector ASX Listings to Maintain Their Pace in 2022

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THE BOURSE WHISPERER: the unsated hunger felt by voracious Resource Sector investors for fresh meat to list on the ASX continues to be met by new arrivals.

There were 44 exploration plays in attendance at the 2021 RIU Resurgence Conference in Perth.

In February there will be another 87 in attendance at the upcoming RIU Explorers Conference to be held in Fremantle.

Of course, these 131 companies are the tip of the exploration company ASX listings, the number of which changes so often it is hardly worth recording it, but if one were to guess it would most likely be hitting around the 800+ mark.

That doesn’t stop new chums being eager to join in the fun and the listings slated for January alone make interesting reading.

 

Belararox (ASX: BRX) comes with the aspirations shared by many of its ilk of recent times being an Australian mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets.

Belararox has majority interest in tenements in a project area in the Lachlan Fold Belt of New South Wales and a project with tenements in the Bullabulling Goldfield near Coolgardie in Western Australia.

The company considers the projects to hold potential for zinc, copper, gold, silver, nickel and lead resources.

Belararox’ main focus is its Belara project in NSW south-east of Dubbo in the East Lachlan Orogen.

This deposit is listed as the fifth largest VAMS deposit in the Lachlan Fold Belt.

The Coolgardie project in WA consists of 26 Prospecting licences that are located around the Bullabulling gold deposit in the Bullabulling goldfield near Coolgardie.

 

Cosmo Metals (ASX: CMO) is a spin out of Great Boulder Resources (ASX: GBR) to allow the demerger of that company’s base metals portfolio allowing it to focus on its gold projects.

Cosmo Metals inherits the Yamarna project, a multi-commodity target northeast of Laverton in the Eastern Goldfields of Western Australia.

The Yamarna project hosts advanced nickel-copper-cobalt sulphide discoveries at the Mt Venn and Eastern Mafic prospects with mineralsiation at Mt Venn already identified over 1.5 kilometres.

 

Nico Resources (ASX: NC1) is looking to list on the back of its Central Musgrave project (CMP) tenements that comprise three main exploration licences straddling the border between Western Australia and South Australia.

The licences are known as – Wingellina (WA), Claude Hill (SA) and Mt Davies (SA).

Mt Davies is an exploration licence covering the Lewis calcrete resource and three miscellaneous licences covering the defined water resources.

The tenements host nickel-cobalt-scandium lateritic Mineral Resources in excess of 200 million tonnes, containing 1.95 million tonnes of nickel and 150 thousand tonnes of cobalt, along with a probable Ore Reserve of 164.8 million tonnes containing 1.56 million tonnes of Nickel and 123,000 tonnes of cobalt.

Mt Malcolm Mines Confirms Shallow Golden Crown Gold Mineralisation

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THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) reported receipt of remaining assays and completion of an inaugural RC drilling program at the company’s Golden Crown prospect near Leonora in Western Australia.

Mt Malcolm Mines encountered noteworthy gold intercepts from the nine RC holes for an advance of 860 metres.

Assay results for the RC drill program include:

21GCRC001
1 metres at 0.54 grams per tonne gold (19-20m) and 2m at 0.59g/t gold (32-34m)
3m at 11.97g/t gold (37-40m) including 1m at 33.61g/t gold (37-38m); and

21GCRC003
2m at 0.92g/t gold (19-21m) and 7m at 0.34g/t gold (25-31m) and 1m at 0.66g/t gold (62-63m).

“The Golden Crown prospect is shaping up well with several high-grade gold intersections received to date,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.

“Limited drilling has confirmed and identified high-grade shallow gold mineralisation that remains open along strike and completely open at depth.

“The prospect is at an early exploration stage and warrants further follow-up RC drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@mtmalcolm.com.au

 

Web: www.mtmalcolm.com.au

 

 

St George Mining Resumes Mt Alexander Diamond Drilling

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THE DRILL SERGEANT: St George Mining (ASX: SGQ) announced resumption of diamond drilling at the company’s high-grade Mt Alexander project, located in the north-eastern Goldfields of Western Australia.

St George Mining reported the drilling will focus on testing high-priority targets identified from a seismic survey the company recently had completed at Mt Alexander.

St George and CSIRO commenced a research project in 2021 aimed at characterising the unique nickel-copper sulphide mineralisation and intrusive geology in the Cathedrals Belt.

The purpose of the project is to better understand the generation and emplacement mechanism behind the mineralised intrusive system, which may provide an insight into the most prospective areas to host further high-grade nickel-copper-PGE mineralisation in the project area.

The first target to be drilled is S1, a large seismic target that has been modelled with a dip-extent of 450 metres located down-dip from and within the same Cathedrals Belt structure that hosts extensive massive nickel-copper sulphides drilled at Investigators.

“I am delighted that we have been able to commence our drilling so early in the New Year,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“The 2022 diamond drilling is our first-ever drilling of seismic targets and the results will be keenly anticipated by all shareholders.

“Our excitement has been dialled up with initial findings from the St George-CSIRO research project that the Cathedrals Belt intrusions are associated with the Warakurna Large Igneous Province, significantly increasing the prospectivity for us to discover more large-scale nickel-copper-PGE mineralisation at Mt Alexander.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

 

Renascor Resources Completes Commercial-Scale Milling Trials at Siviour

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THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) has completed of commercial-scale downstream milling equipment trials for the company’s planned Siviour project, a vertically integrated graphite mine and battery anode material manufacturing operation in South Australia.

The recently completed trials achieved spherical graphite yields from Renascor’s Siviour graphite deposit in excess of 65 per cent (versus the 50% yield adopted in Renascor’s Battery Anode Material Study).

Renascor Resources said the higher yields from the milling process offer potential to produce more Purified Spherical Graphite (PSG) and improve profit margins as a result of an increased proportion of PSG material being produced per unit of Graphite Concentrate feed.

The higher yields were achieved with an industry leading equipment manufacturer, confirming the ability to process Siviour Graphite Concentrates into spherical graphite products consisting of a primary spherical product for use in high-volume lithium-ion battery anode applications, as well as finer spherical products for use in high performance and other speciality applications.

Spherical graphite produced from the milling trials met or exceeded physical customer specifications that require physical specification parameters, including product size, particle size distribution, tap density and surface area, must be achieved after the milling process for use in high quality anode material

Data generated from the equipment trials will be used for engineering design works and final equipment selection for Renascor’s planned manufacturing facility in SA.

“The completion of the downstream equipment trials is another important step in advancing and de-risking the Siviour project, with the potential for improved yields offering further upside in our plans to become a global leader in the production of high-quality, sustainable Purified Spherical Graphite products for lithium-ion battery anode makers worldwide,” Renascor Resources managing director David Christensen said in the company’s ASX announcement.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@renascor.com.au

 

Web: www.renascor.com.au

 

Sunshine Gold Intersects Titov Mineralised Zone

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THE DRILL SERGEANT: Sunshine Gold (ASX:SHN) reported on diamond drilling completed last year at the Titov copper-silver-molybdenum target within the company’s Ravenswood West gold-copper-rare earth project in Queensland.

Sunshine Gold completed drilling the 501.5 metres deep Titov diamond drill hole (21TVDD001) in late December 2021.

The hole was collared approximately 300m south-east of the surface outcrop, having targeted an Induced Polarisation (IP) anomaly, the company had interpreted to be an extension of the copper-silver-molybdenum mineralisation it had intersected in the RC drilling carried out in September 2021.

The company believes the sulphide abundance in the mineralised zone adequately explains the IP anomaly.

“The Titov core looks quite spectacular!” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“Coarse molybdenite is common in quartz veining and chalcopyrite is observed in veining and disseminated in the host porphyry.

“The hole provides context to observations made in weathered surface outcrop and RC drill chips.

“We can see lithological and alteration contacts, mineralisation styles and have been able to gather orientation data on small faults and veining.

“We have now defined the Titov copper-silver-molybdenum system over 300 metres of strike and 300 metres down dip from the outcrop.

“Titov is open at depth and to the east, where the highest copper grades have been intersected.

“There is also a gold in soil anomaly to the east of the drill defined system and exploration efforts will focus on extending the system in 2022.”

Sunshine will have the core cut and assayed, with results expected in late March 2022.

Once cut, select samples of core will be sent for petrology to better understand the timing of alteration events and mineralisation.

Historic diamond drill core from Titov drilling in 1967 has been located at the Queensland Exploration Data Centre, Brisbane.

Sunshine geologists will assess the condition of the historic core in February and relog and photograph all available drill core.

The company has submitted application to cut and sample the historic core.

Follow up RC is being planned to test the eastern extension to the Titov mineralised system at relatively shallow depths that is planned to commence in April.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au