The Pick at 2022 RIU Sydney Resources Roundup

THE CONFERENCE CALLER: Try as we might, The Resources Roadhouse couldn’t reach all the presenters at the recent 2022 RIU Sydney Resources Roundup, but luckily our chums from The Pick were on hand to pick up the slack.

Resources Roadhouse at 2022 RIU Sydney Resources Roundup

THE CONFERENCE CALLER: The Resources Roadhouse caught up with a plethora of presenters at the recent 2022 RIU Sydney Resources Roundup.

Here’s a couple to whet your appetite. To see all The Roadhouse vids from the conference CLICK HERE


White Noise at 2022 RIU Sydney Resources Roundup

THE CONFERENCE CALLER: Good friends of The Roadhouse, White Noise Communications attended the recent 2022 RIU Sydney Resources Roundup where they were able to speak with some of the companies we missed.


Gascoyne Resources Increases New Dalgaranga Gold Discovery

THE CONFERENCE CALLER: Gascoyne Resources (ASX: GCY) welcomed visitors to its booth at the 2022 RIU Explorers Conference after reporting new drilling results from the zone of recently discovered gold mineralisation immediately north of the Gilbey’s open pit, the main ore source at the company’s 100 per cent-owned Dalgaranga gold project in Western Australia.

Gascoyne Resources said the new zone, known as Gilbey’s North, has been outlined by shallow RC drilling carried out immediately north of the Gilbey’s pit.

The mineralisation commences from shallow depths (just 1m) and has so far been defined over a strike length of more than 300m, to a depth of almost 200m and over down-hole widths of up to 20m.

“Our on-site geology team continues to deliver consistent drilling results less than one kilometre from the processing facility at Dalgaranga,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“Importantly, the latest drilling results from Gilbey’s North continue to highlight the similarities with the mineralisation styles seen in the main Gilbey’s open pit and, with the closest assay result received so far less than 50 metres from the pit crest, we are growing increasingly confident of the near-term potential to increase resources, reserves and mine life at Dalgaranga.

“The recent addition of a second dedicated RC drill-rig at Gilbey’s North will help us to accelerate the drill-out of what appears to be an important resource extension area in close-proximity to existing mining operations and infrastructure.”









Carnaby Resources IP Survey Lights Up Lady Fanny

THE CONFERENCE CALLER: Carnaby Resources (ASX: CNB) attracted a crowd on the final day of the 2022 RIU Explorers Conference after reporting exploration results from the company’s 100 per cent-owned Lady Fanny copper gold discovery, located within its Greater Duchess copper gold project in Mt Isa, Queensland.

Carnaby Resources reported results from the first three lines of IP completed at Lady Fanny that outlined several strong inversion chargeability anomalies across all three lines.

Data from an additional three infill and extension IP lines have been received and inversion modelling of the data is underway and is expected to be reported soon.

The IP lines were completed over 1.4 kilometres long east-west traverses covering the entire Lady Fanny to Burke & Wills lines of workings.

“The Lady Fanny IP results are extremely encouraging and are suggestive of a much larger copper sulphide bearing system at depth and along strike,” Carnaby Resources managing director Rob Watkins said in the company’s ASX announcement.

“The IP at Lady Fanny appears to be working as well as it did at Nil Desperandum which led to the high-grade discovery.

“This bodes well for the follow up drilling at Lady Fanny which is underway.

“The strength of the Lady Fanny inversion chargeability anomalies is stronger than in the high-grade discovery IP section at Nil Desperandum.

“While the strength of the chargeability inversion anomalies cannot be used as a guide for copper grades or widths, the strength of the Lady Fanny IP chargeability anomalies is certainly a positive sign.

“With this in mind, we are genuinely excited about what lies ahead at Lady Fanny and Nil Desperandum and the broader Greater Duchess copper gold project in the weeks and months ahead.”








Matador Mining Doubles Gold Target at Window Glass Hill Granite

THE CONFERENCE CALLER: Matador Mining (ASX: MZZ) was holding court at its 2022 RIU Explorers Conference booth as punters took in the announcement that interpretation of detailed magnetics, lithogeochemistry and historic data has doubled the known strike length of the highly prospective Window Glass Hill Granite (WGHG) Intrusion to over six kilometres at the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining explained the new detailed magnetics and bottom of hole (BOH) lithogeochemistry data demonstrate that an untested sheared wedge of the WGHG extends three kilometres further north-east along the Cape Ray Shear Zone (CRSZ) than previously interpreted, immediately north of the 519,000 ounces gold Central Zone Mineral Resources.

“The opportunity presented by the large WGHG system to support significant mineral resource growth within a stone’s-throw of the proposed processing facility at Central Zone is extremely exciting,” Matador Mining executive chair Ian Murray said in the company’s ASX announcement.

“To find that the WGHG extends a further three kilometres to the north-east, immediately adjacent to the existing 519,000 ounce gold Central Zone Mineral Resource, in an area almost completely devoid of previous drilling, represents a great opportunity for Matador to test through 2022.

“Matador will dedicate at least one diamond drill rig throughout the 2022 summer drilling season aiming to grow the WGHG-hosted resources footprint and continue to make new discoveries across the 85 per cent of WGHG area and granite contact zones that are still to be effectively drill tested.

“We will also concurrently advance the broader greenfield discovery efforts and exploration target pipeline.”








Eagle Mountain Mining Going Underground at Oracle Ridge

THE CONFERENCE CALLER: Eagle Mountain Mining (ASX: EM2) had punters queuing at its 2022 RIU Explorers Conference booth after announcing its plan to recommission parts of the existing underground mine at the company’s 100 per cent-owned Oracle Ridge project in Arizona, USA.

Eagle Mountain explained its reasoning behind the decision being that by accessing the existing Oracle Ridge underground mine it would be able to drill from underground, gaining improved access for future studies.

Indicated benefits include shorter drill holes that will increase productivity and reduce costs and faster upgrading of the Mineral Resource Estimate (MRE) to increase the Measured and Indicated resource categories.

“Drilling from underground will be a massive step-change for our exploration and move us closer to feasibility studies,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“We are very fortunate to have an existing underground mine in very good condition with development in the right location to continue to build and upgrade our Mineral Resources.

“We don’t need to de-water the mine to access the drill sites and rehabilitation is expected to be relatively minor.

“Along with drilling shorter holes, it also enables better access to the orebody for taking bulk samples for metallurgical test work for optimisation of processing design and recoveries.

“Importantly, two drill rigs will continue to focus on resource expansion and upgrade drilling at the Talon as results have demonstrated the growth potential of the Resource.

“Given the large number of assays pending (56 holes), results will continue to be received whilst we recommission the underground mine.

“With the reduction of one drill rig and the recommissioning of the mine, we do not expect a significant impact on our rate of expenditure.

“However, it is setting us up for the future with drill platforms to efficiently build out the resource and potentially install a drill drive to the south into the Talon zone which is growing with almost every drill hole.

“We are currently in discussions with underground drilling contractors, and we are working to secure a drill rig for mobilisation around Q3 2022.”







Azure Minerals Expands Barton Gold Project

THE CONFERENCE CALLER: Azure Minerals (ASX: AZS) was anticipating a rush of booth enquiries at the 2022 RIU Explorers Conference after announcing the staking of two new Exploration Licence Applications (ELAs) in the Kookynie gold district and application for an additional two new ELAs to the south of the company’s Barton tenement package.

Azure has made application for two Exploration Licences located within the Kookynie gold district.

The tenements are:

• Christmas Well ELA 40/421 69sqkm Azure is sole applicant;
• Two Dees ELA 40/432 33sqkm Azure is sole applicant.

Christmas Well is thought to have potential for Kookynie-style gold mineralisation and Volcanogenic Massive Sulphide (VMS) mineralisation (copper-zinc-lead-gold-silver).

Two Dees is considered prospective for gold mineralisation similar to Genesis’ nearby Ulysses and Admiral-Butterfly-Clark gold deposits.

Azure has also made applications for two new Exploration Licences further south from Kookynie:

• Cranky Jack ELA 31/1310 173sqkm Azure is sole applicant; and
• Yarri ELA 31/1314 208sqkm Multiple applications, pending ballot.

Azure Minerals expects to eventually hold a large, strategically-situated portfolio of tenements within the Kookynie district with potential extensions to the south, comprising:

• One granted Exploration Licence (E40/393: 198sqkm);

• Six ELAs (totalling 483sqkm) with Azure as the sole applicant; and

• Four ELAs (totalling sq336km) where Azure is a competing applicant, and which will go into a Mining Warden’s Court ballot to decide ownership.








De Grey Mining Wins Craig Oliver Award and Reports New Results from Diucon Deposit at Hemi

THE CONFERENCE CALLER: De Grey Mining (ASX: DEG) enjoyed the opening morning of the 2022 RIU Explorers Conference by picking up the celebrated Craig Oliver Award.

The Craig Oliver Award is presented each year at the RIU Explorers Conference in memory of the former Sundance Resources director and major contributor to the mining industry and recognises the ASX resources sector’s best all-round achiever throughout the previous 12 months.

When accepting the award in front of a packed day one auditorium at The Esplanade Hotel in Fremantle, De Grey Mining general manager exploration Phil Tornatora said the De Grey story was one that perfectly suited an explorer’s conference.

“The Hemi discovery was made in a frontier area in the Pilbara not seen as a gold destination,” he said.

“Our philosophy has been a geologist’s main job is to find the ore body.

“You can’t find anything without drilling and never die wondering.

“My summary for Hemi is it’s big, it will get bigger and it will be a very big gold mine.”

De Grey had earlier released the latest resource definition and resource extension results from the Diucon deposit at the company’s Hemi gold project in Western Australia.

The drilling has demonstrated gold mineralisation at Diucon to have similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Eagle.

Drilling at Diucon and Eagle has intersected broad zones of mineralised intrusive in resource definition and extensional drilling including late high-grade mineralisation associated with quartz-carbonate veining, sericite-albite alteration and visible gold.

New resource definition drilling results include:

148.6 metres at 2 grams per tonne gold from 92m, including 8.9m at 7.3g/t gold from 101m and 34.8m at 2.9g/t gold from 129.3m;

8m at 5g/t gold from 131m and 71.1m at 3.5g/t gold from 188m, including 38.1m at 6.2g/t Au from 221m;

64m at 3.7g/t gold from 259m;

152.5m at 2.3g/t gold from 53m, including 25m at 4.4g/t gold from 106m and 6.3m at 25.7g/t gold from 135.4m; and

104m at 1.2g/t gold from 151.8m, including 33.2m at 2.3g/t gold from 151.8m.

New extensional drilling results include:

128.9m at 1.5g/t gold from 340m, including 26.3m at 2.3g/t gold from 341m and 43.9m at 2.2g/t gold from 374.1m and 9m at 2.4g/t gold from 441m.

“The resource definition results at Diucon have continued to intersect broad deposits of mineralisation including high grade intervals near surface,” Tornatora said in the company’s ASX announcement.

“[These] and other recent intersections are expected to have a positive impact on the Diucon resource grade and PFS mine schedule.

“The new extensional result at Diucon in HERC775D…including higher grade intervals is located approximately 100 metres beneath the Scoping Study open pit design.

“New pit shell optimisations will be conducted in the PFS aiming to increase gold production from the Diucon pit.

“Diamond drilling at Hemi will pivot to resource extension and discovery drilling after the March quarter and these new results at Diucon provide encouragement.

“Exploration with aircore and RC drilling continues to be conducted in the Greater Hemi region outside the Hemi footprint seeking new near surface gold bearing intrusions.”









Charger Metals Completes Flyover Investigation at Coates Project

THE CONFERENCE CALLER: Charger Metals recently listed on the ASX targeting battery-component and precious metals.

The company arrived with a portfolio consisting three projects, two in Western Australia and the third in Northern Territory.

The Coates nickel-copper-gold PGE project in WA (Charger 70%-85% interest) is approximately 20 kilometres SE of Chalice Mining’s Julimar nickel-copper-gold-PGE discovery.

Coates has SkyTEM anomalies, some with coincident nickel, copper, gold and PGE geochemistry anomalies that the company has identified as priority targets for further testing.

Charger just announced identification of a cluster of HEM anomalies at the priority Target 1 via a SkyTEM aerial survey.

The survey showed Target 1 consists of a cluster of 19 HEM anomalies that have been interpreted to form several parallel conductors extending over 1500 metres of strike length.

The Target 1 conductors sit immediately adjacent to magnetic features interpreted to be components of the Coates mafic intrusion.

The northern end of Target 1 has a nickel-copper-gold-PGE geochemistry anomaly, while the southern end of the target has previously not been tested.

Some of the other targets are less extensive but are considered good conductors by Charger and will be progressively further tested, including Target T8, which is highly conductive and along strike from the Target T1.

The second WA project, Lake Johnston lithium and gold project (Charger 70%-100%), includes the Medcalf spodumene discovery and much of the Mount Day lithium caesium tantalum (LCT) pegmatite field.

The region has attracted considerable interest for LCT Pegmatite mineralisation due to its proximity to the large Earl Grey lithium deposit (owned by Wesfarmers Limited and SQM of Chile), located approximately 70km west.

In the Northern Territory, the Bynoe lithium and gold project sits within the Litchfield Pegmatite Field.

The area has a history of tin mining and is demonstrably prospective for tantalum and alkali metals including spodumene, which are primarily hosted in LCT pegmatites.

The Bynoe project is surrounded by the extremely large tenement holdings of Core Lithium’s Finnis lithium project that is at a very advanced stage of development having had completed a definitive Feasibility Study in April 2019.