Cannon Resources (ASX: CNR) released a second Resource update for the Sabre deposit within the company’s Fisher East nickel project in Western Australia. CEO Steve Lynn zoomed into The Resources Roadhouse to explain how the company is achieving its current goals.
THE DRILL SERGEANT: Nexus Minerals (ASX: NXM) received high-grade gold assay results from regional exploration drilling completed at the Branches prospect, within the company’s Wallbrook gold project northeast of Kalgoorlie in Western Australia.
Nexus Minerals’ Branches prospect lies along strike from the company’s Crusader-Templar prospect, three kilometres to the south and sits on mineralised corridor 1 (MC1) that has been defined over 5km in length and approx. 300 metres wide.
Assay results from 26 holes at Branches have been received, including:
4 metres at 7.23 grams per tonne gold (within 10m at 3.33g/t gold from 115m);
4m at 7.47g/t gold (within 8m at 3.96g/t gold from 73m);
8m at 3.65g/t gold (within 27m at 1.16g/t gold from 26m);
3m at 4.21g/t gold (within 27m at 1.19g/t gold from 27m);
3m at 3.90g/t gold (within 8m at 1.51g/t gold from 124m); and
5m at 3.45g/t gold (within 16m at 1.23g/t gold from 38m).
“To have received such strong gold results from this early-stage drilling at Branches validates our exploration strategy, which continues to reap rewards and demonstrates our growing understanding of the district mineralisation,” Nexus Minerals managing director Andy Tudor said in the company’s ASX announcement.
“This early success in testing the first prospect outside of our Crusader-Templar prospect, really opens up the opportunity of the four mineralised corridors to host significant gold mineralisation.
“These results are extremely positive and lead Nexus to believe that we may be sitting on a significant gold camp.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Panoramic Resources (ASX: PAN) reported further strong results from ongoing infill underground Resource definition drilling at the company’s Savannah nickel project in Western Australia.
Panoramic Resources has completed a third underground drill fan to infill the Savannah orebody immediately above the 900 Fault that encountered mineralisation thicknesses that continue to be much better than predicted.
All three holes extended mineralisation along strike or down plunge, returning results of:
KUD1932
19.9 metres at 0.96 per cent nickel; 0.71 per cent copper; 0.05 per cent cobalt from 104.15m, including 8.9m at 1.33 per cent nickel; 0.57 per cent copper; 0.07 per cent cobalt from 104.15m;
KUD1937
16.95m at 0.97 per cent nickel; 0.42 per cent copper; 0.05 per cent cobalt from 114.05m, including 5.95m at 2.05 per cent nickel; 0.7 per cent copper; 0.1 per cent cobalt from 114.05m; and
KUD1942
9m at 0.82 per cent nickel; 0.25 per cent copper; 0.04 per cent cobalt from 140.3m.
The company believes the results from the first three drill fans above the 900 Fault have the potential to greatly increase the Mineral Resource in this area of the mine and support the development of a second mining front to supplement mining operations at Savannah North.
“The continued success of the drill program to infill and extend the Savannah orebody immediately above the 900 Fault is very pleasing,” Panoramic Resources managing director and CEO Victor Rajasooriar said in the company’s ASX announcement.
“The results from the third completed drill fan in this area strongly supports the initial two drill fans and together they show potential to increase our mineral inventory above the 900 Fault and support the planned opening of a new mining front over the next 12 months.
“This will supplement and further de-risk the current mining operations at Savannah North.
“We look forward to announcing more drill results from the ongoing drilling within Savannah in due course.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@panres.com
Web: www.panoramicresources.com
THE DRILL SERGEANT: Hot Chili (ASX: HCH) reported a new, shallow high-grade, copper-silver drill intersection from the company’s Valentina copper deposit in Chile.
Hot Chili received assays results for hole VALMET0002, which it explained was a twin diamond drill hole of earlier reverse circulation drill hole VAP0009 the company had reported in August 2022.
VALMET0002 recorded 3 metres at 12.1 per cent copper equivalent (CuEq) (11.8% copper & 52.6g/t silver) within a broader drilling intersection of 12m at 4.6 per cent CuEq (4.5% copper & 16.5g/t silver) from 25m depth down-hole.
The company explained the result confirms a 120m extension of high-grade, copper-silver mineralisation to the south of the historical Valentina underground mine and provides material for development-related metallurgical testwork, which it considers key to the inclusion of the Valentina Resource in the Costa Fuego combined prefeasibility study (PFS) due in Q1 2023.
“The new drill result represents exceptional near-surface grades, providing an exciting potential additional front-end ore source for the company’s Costa Fuego coastal range copper-gold development,” Hot Chili said in its ASX announcement.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@hotchili.net.au
Web: www.hotchili.net.au
THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) continues to make progress at the company’s 100 per cent-owned Oracle Ridge copper mine project in Arizona, USA.
Eagle Mountain Mining has maintained from surface drilling at Oracle Ridge that has focused on the Talon area with a few holes also testing peripheral extensions to the west and north of the mine.
Assay results have been received for 22 holes, including resource expansion holes.
Results include:
WT-22-88
12.5 metres at 2.08 per cent copper, 18.81 grams per tonne silver and 0.33g/t gold;
WT-22-110
10.7m at 2.23 per cent copper, 19.62g/t silver and 0.35g/t gold;
WT-22-140
9.2m at 2.2 per cent copper, 35.72g/t silver and 0.45g/t gold; and
WT-22-143
8m at 2.98 per cent copper, 27.46g/t silver and 0.33g/t gold.
The company indicated an updated Mineral Resource Estimate (MRE) is ongoing with the next update on schedule for the end of September 2022.
Mapping and sampling of historical mines adjacent to Oracle Ridge is also underway to refine the local geology model, aid the MRE and identify new drill targets.
“With drilling continuing, we have concurrently launched several initiatives to continue to advance the project,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.
“The mining contractor is currently on site refurbishing the underground mine, with the generator already delivered and installed and the electrical equipment currently being serviced with the ventilation fans to follow shortly thereafter.
“Our goal is to leverage the existing infrastructure to drill and sample underground.
“We are only two months away from driving our first underground rig through the Oracle Ridge portals.
“Metallurgical studies have commenced to review and update existing information that we will need for the upcoming mining studies.
“On the geological front, the team is currently mapping the historical workings peripheral to the Oracle Ridge mine and also fine tuning our drilling plans for OREX.”
Email: info@eaglemountain.com.au
THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) reported on recent drilling activity from the company’s 100 per cent-owned Binduli and Black Flag project areas located on the outskirts of Kalgoorlie-Boulder in Western Australia.
Horizon Minerals recent work consisted two small RC drilling programs conducted at the Honeyeater prospect at Binduli and at Black Flag near the Paddington area north of Kalgoorlie.
New high-grade mineralisation intercepted at Honeyeater included:
HRC22006
2 metres at 34.85 grams per tonne gold from 74m, including 1m at 68.04g/t gold from 74m; and
HRC22008
2m at 5.34g/t gold from 28m, including 1m at 9.98g/t gold from 28m, 1m at 1.21g/t gold from 38m and 2m at 3.34g/t gold from 44m.
At the Black Flag prospect, 15 kilometres northwest of Honeyeater, new high-grade mineralisation was discovered across a gravity structure, producing results of:
BFAC21013
8m at 2.19g/t gold from 30m, including 5m at 3.03g/t gold from 30m; and
BFAC21026
1m at 0.55g/t gold from 14m and 1m at 2.74g/t gold from 26m.
“The company is very pleased with these excellent drilling results from Honeyeater which have returned some exceptional grades,” Horizon Minerals managing director Jon Price said in the company’s ASX announcement.
“The results show the growth potential of the Binduli area progressing into a large mineralised system of multiple deposits, along with the very encouraging results at the early stage Black Flag project.
“We look forward to further drilling programs in these exciting areas in 2023 to follow up extensions and new discovery drilling, with strong resource growth potential leveraging off existing infrastructure in the eastern goldfields area.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@horizonminerals.com.au
Web: www.horizonminerals.com.au
THE DRILL SERGEANT: Estrella Resources (ASX: ESR) reported further news on progress at the company’s Spargoville nickel project, located outside Kambalda in Western Australia.
Estrella Resources received the second last batch of assays, which it said had confirmed good mining widths and high grades below the 5A Open Pit’s southern and central sections.
Results include:
SPDD018
6.8 metres at 4.4 per cent nickel from 66.2m, including 1.76m at 10.21 per cent nickel;
SPDD017
4.05m at 3.05 per cent nickel from 76.9m, including 1.28m at 7.28 per cent nickel;
SPDD016
3m at 1.15 per cent nickel from 23.3m, including 2m at 1.23 per cent nickel; and
SPDD015
19m at 0.74 per cent nickel from 36m, including 3.3m at 1.09 per cent nickel.
The company is now preparing to produce an updated Mineral Resource that is anticipated to be completed around three weeks after the receipt of final assays.
“As expected, we continue to see very high-grade assays returned from the recent confirmation diamond drilling of the 5A nickel deposit,” Estrella Resources managing director Chris Daws said in the company’s ASX announcement.
“Planning for the extraction of the bulk sample has progressed significantly and I look forward to updating shareholders on how, where and when we are able to deliver these valuable nickel tonnes for processing as the company steps towards a profitable nickel operation.
“Outlook for nickel prices continue to look very favourable and now couldn’t be a better time to plan and develop a nickel mining operation.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@estrellaresources.com.au
Web: www.estrellaresources.com.au
THE DRILL SERGEANT: Mt Monger Resources (ASX: MTM) reported assay results from a recent reconnaissance aircore drilling campaign at the Pt Kidman prospect, part of the company’s East Laverton project in Western Australia.
Mt Monger Resources said the drilling had intersected good widths and grades of rare earth element (REE) mineralisation in all areas that were tested.
Total Rare Earth Oxide (TREO) mineralisation intersections, include:
22ELAC048
15m at 1,461ppm TREO, from 21m;
22ELAC003
5m at 1,790ppm TREO, from 27m;
22ELAC043
6m at 1,493ppm TREO, from 12m;
22ELAC046
2m at 1,889ppm TREO, from 15m; and
22ELAC039
3m at 1,753ppm TREO, from 27m.
“These assays confirm the presence of shallow, rare earth element mineralisation across three broad areas of the Pt Kidman prospect,” Mt Monger Resources managing director Lachlan Reynolds said in the company’s ASX announcement.
“The mineralised saprolitic clay horizon shows continuity over a significant area and only a small fraction of the overall target area has been tested.
“Elsewhere, surface samples and historical drilling results indicate that there is substantial additional potential for zones of clay-hosted rare earth mineralisation.
“Planning and permitting is currently underway to undertake further drilling.
“These results suggest that the Pt Kidman prospect is an exciting opportunity that could evolve into a new critical minerals deposit of importance.”
Email: admin@mtmongerresources.com.au
Web: www.mtmongerresources.com.au
Dreadnought Resources (ASX: DRE) is eagerly drilling at the company’s recent Yin REE discovery in Western Australia, along with other nearby targets. Managing director Dean Tuck zoomed into The Resources Roodhouse to bring Wally Graham up to speed on the company’s activities.
Turaco Gold (ASX: TCG) has its Satama gold project emerging as a front runner from the company’s portfolio of gold projects in Côte d’Ivoire. Managing director Justin Tremain zoomed into The Resources Roadhouse to provide an update on how things are progressing.
