Galan Lithium (ASX: GLN)

THE CONFERENCE CALLER: Galan Lithium Limited (ASX: GLN) released the maiden JORC (2012) compliant Mineral Resource estimate for the Candelas lithium brine project located in Catamarca province, Argentina.

The indicated mineral resource estimate for the higher grade Candelas North zone is 684,850 tonnes of
contained lithium carbonate equivalent (LCE) product grading at 672mg/l lithium(at 500mg/l Li cut off).

The company said the Indicated Resource forms a solid basis for an upcoming Pre-Feasibility Study and has exceeded its expectations by further validating the high-grade, low impurity nature of the Candelas project and our strategy to fast-track Candelas towards commercial development.

With further drilling, Galan is confident of delivering future upgrades to this resource.”

The Resources Roadhouse was able to catch up with Galan Lithium managing director at the recent RIU Resources Roadshow in Melbourne.

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Galan Lithium also recently announced preliminary assay results from its maiden drill hole at Pata Pila, which forms part of the company’s Western Basin projects located on the Hombre Muerto salar in Argentina.

Galan Lithium’s Pata Pila licence covers a large alluvial fan adjacent to Livent Corporation’s (NYSE: LVHM) tenure covering the western margin of the Hombre Muerto salar.

The drillhole intercepted several brine horizons varying from 25m to 258m in thickness and was completed at 718 metres after encountering basement at a depth of 713 metres.

Preliminary results from four samples returned consistent, high lithium grades greater than 900mg/l lithium with low impurity levels.

Galan Lithium is confident that Galan has the potential to increase its lithium resource inventory beyond its Candelas project.

 

Web: www.galanlithium.com.au

 

Galileo Mining (ASX: GAL)

THE CONFERENCE CALLER: Galileo Mining (ASX: GAL) is undertaking exploration activities at the company’s Empire Rose and Yardilla South prospects in Western Australia’s highly prospective Fraser Range Belt.

Both the Empire Rose and Yardilla South prospects are well developed targets where initial shallow drilling, geophysical surveying, and geochemistry suggests potential for economic mineralisation at depths between 150m and 250m below surface.

The company is also conducting the first drilling program at the company’s Subzero prospect near Norseman, also in Western Australia.

The Resources Roadhouse spoke with Galileo Mining managing director Brad Underwood and technical director Noel O’Brien at the RIU Resources Investor Roadshow in Melbourne.

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Galileo Mining drilled six Reverse Circulation (RC) at the Subzero prospect, constituting the first drilling program focussed on testing beneath a zone of outcrop with anomalous surface copper assays.

Three holes (NRC241 to 243) were drilled on the same section to provide an understanding of the geometry and potential for mineralisation.

A further three holes (NRC244 to 246) were drilled beneath the outcrop 25 metres north and south of the drill section.

Galileo declared the drilling had intersected highly anomalous zinc and copper in all six drill holes.

 

Email: admin@galmining.com.au

Web: www.galmining.com.au

 

Blackstone Minerals (ASX: BSX)

THE CONFERENCE CALLER: Blackstone Minerals (ASX: BSX) announced PGE assays from the maiden drill results at the company’s Ta Khoa nickel project in Northern Vietnam.

The Resources Roadhouse spoke with Blackstone Minerals managing director Scott Williamson at the RIU Resources Investor Roadshow in Melbourne.

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Blackstone Minerals declared the maiden PGE assays have potential to greatly the economics of the large unmined disseminated sulphide prospect at Ban Phuc with the initial three holes delivering results of:

BP19-01
22 metres at 0.76 per cent nickel, 0.13 per cent copper, 0.01 per cent cobalt and 0.4 grams per tonne PGE from 138m;

BP19-02
17.8m at 1 per cent nickel, 0.09 per cent copper, 0.01 per cent cobalt and 0.74g/t PGE from 106.6m; and

BP19-03
45.5m at 1.2 per cent nickel, 0.17 per cent copper, 0.01 per cent cobalt and 0.35g/t PGE from 56.5m.

Blackstone explained that its assays are the first ever PGE assays for the Ban Phuc disseminated sulphide zone (DSS), as previous owners focused entirely on massive sulphide veins (MSV) and only minimal PGE assays have been taken throughout the Ta Khoa nickel project.

The company’s drilling of the Ban Phuc DSS has delivered peak assays up to 3.4 per cent nickel and 2g/t PGE.

Blackstone considers the previously unrecognised PGE grades associated with the Ban Phuc DSS suggest a potential by-product credit could enhance the future economics of the Ta Khoa nickel project.

“Our maiden PGE assays from the Ban Phuc disseminated sulphide are a game-changer for the Ta Khoa nickel project,” Blackstone Mineral managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We look forward to better understanding the project’s full potential as we receive further assays from our drilling program.”

Blackstone is continuing with drilling at Ta Khoa to test high impact targets generated from a recently completed maiden induced polarisation (IP) survey.

Assays are also pending for the next four drill holes from the Ban Phuc disseminated sulphide zone.
The Ta Khoa nickel project is located 160 kilometres west of Hanoi.

The project includes the existing Ban Phuc nickel mine, which was built to Australian Standards and is currently under care and maintenance.

The Ban Phuc nickel mine operated as a mechanised underground nickel mine from 2013 to 2016.

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Kopore Metals (ASX: KMT)

THE CONFERENCE CALLER: Kopore Metals (ASX: KMT) is currently conducting a program of diamond drilling at the company’s Namibian Otjari Domal prospect in Namibia.

Kopore Metals is drilling at the Otjari Domal prospect having completed a NSAMT ground geophysical survey, identifying a potentially shallow D’Kar/Ngwako Pan footwall contact position within 200 metres of surface.

The company’s technical team has interpreted the Otjari Domal prospect as a potential subsurface domal structure and the faulted south-western continuation of the identified Qembo Dome, known to host copper mineralisation.

This current drilling program is the Kopore’s first campaign into the Otjari Domal prospect.

The Resources Roadhouse spoke with Kopore Metals managing director Simon Jackson at the RIU Resources Investor Roadshow in Melbourne.

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Kopore Metals is actively exploring its copper-silver prospects on the emerging world class Kalahari Copper Belt, located in the Republic of Botswana and Namibia.

Kopore is exploring for stratabound copper-silver deposits across its sixteen 100 per cent-owned prospecting licenses in Botswana and eight prospecting licences in Namibia, for a total of 14,363 square kilometres on the world class Kalahari Copper Belt.

Kopore believes the Kalahari Copper Belt can provide the potential for large scale discovery.

 

Email: info@koporemetals.com

Web: www.koporemetals.com

 

Middle Island Resources (ASX: MDI)

THE CONFERENCE CALLER: Middle Island Resources (ASX: MDI) has outlined a schedule of exploration and corporate activities focused on its stated intentions of recommissioning its 100 per cent-owned Sandstone gold processing plant at the earliest opportunity.

The Resources Roadhouse had a brief chat with Middle Island Resources managing director at the recent RIU Resources Investor Roadshow in Melbourne to hear the company’s latest strategy.

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Middle Island’s exploration to date at the Sandstone project has been largely focussed on assessing brownfields targets, such as the Two Mile Hill deposit.

This has left the majority of greenfields targets untested or inadequately tested.

Advancing the Two Mile Hill deposit will remain a priority, but while that carries on, further exploration will hone in on identifying and quantifying additional open pit deposits of sufficient gold grade to facilitate a recommissioning decision.

“A recommissioning decision for the Sandstone gold operation is predicated on defining adequate gold resources, at an acceptable grade, to justify the modest recommissioning costs and ensure sustainable production,” Middle Island Resources managing director Rick Yeates said in a previous announcement.

“This is being progressively achieved via a dual approach; systematic exploration on Middle Island’s own tenure and engagement with neighbouring companies to consolidate adjacent deposits.”

Middle Island recently reached out to neighbour Alto Metals (ASX: AME), offering an all scrip off‐market take‐over offer for all that company’s issued ordinary shares.

Middle Island considers combining of the assets of the two companies would create a company with near-term cash flow potential and considerable production and exploration upside.
The company believes access to the Sandstone processing plant would provide Alto with an immediate, proximal and cost-effective processing solution for its gold resources that is not otherwise available.

“The collective Middle Island‐Alto gold assets offer a substantial growth opportunity for current and future shareholders of the Combined Group, via low capital intensity and a near-term production profile,” Yeates said.

“The further potential is to significantly extend this production profile via Middle Island’s Two Mile Hill underground deposits, consolidate further proximal deposits within a 100 kilometre radius, and amalgamate an entire greenstone belt offering significant resource and exploration upside.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Ardiden Limited (ASX: ADV)

THE CONFERENCE CALLER: Ardiden Limited (ASX: ADV) recently reported a Maiden Mineral Resource estimate for the Kasagiminnis deposit within the company’s Pickle Lake gold project in Ontario, Canada.

Ardiden declared the Inferred Resource estimate of 790,000 tonnes at 4.3 grams per tonne gold for 110,000 ounces to represent the first building block of planned gold resource upgrades as drilling re-commences and exploration activities ramp up on site.

The Resources Roadhouse managed a quick chat with Ardiden CEO Rob Longley at the RIU Resources Investor Roadshow in Melbourne.

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Ardiden has commenced planning for additional drilling, including negotiations with First Nations groups and approvals aimed at extending the Resource along strike and at depth at Kasagiminnis.

The company is also planning geophysical surveys, compiling historical data and evaluating drill targets with the aim of also building Project Mineral Resources at the South Limb, West Pickle and Dorothy-Dobie prospects at the Pickle Lake gold project.

“The Pickle Lake Greenstone area has been overlooked and under-loved since the 1980s, but now there is renewed interest from numerous mining and exploration companies in both the dormant underground mines and adjacent extensions of mineralised areas,” Longley said when releasing the announcement.

“A higher gold price and much improved exploration techniques has made this Gold Camp ripe for re-evaluation.

“Kasagiminnis is only a small part of our Pickle Lake gold project and following a recent site visit, I am encouraged by the prospectivity of the district in terms of mineralisation, opportunity and stakeholder willingness to advance these projects.”

 

Email: info@ardiden.com.au

Web: www.ardiden.com.au

 

Moho Resources (ASX: MOH)

THE CONFERENCE CALLER: Moho Resources (ASX: MOH) recently completed a maiden auger drilling program at the Crossroads prospect within the company’s Burracoppin gold project in Western Australia.

Moho Resources’ auger exploration program consisted 814 shallow auger holes to test aeromagnetic and gravity targets plus gold in soil anomalies within E70/4688.

The program focused on a number of exploration targets which the company had previously identified within the Tampia Structural Corridor of the Southwestern Terrane and located approximately 22 kilometres from Ramelius’ Edna May gold mine near Westonia.

The Roadhouse caught up with the company’s executive director Ralph Winter at the RIU Resources Investor Roadshow in Melbourne.

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Moho received results from the first 380 samples at the Crossroads prospect, demonstrating >25ppb gold anomalies and a number of >100ppb gold anomalies within E70/4688.

A broader gold anomaly was also identified at the >8ppb level measuring approximately 1.4 kilometres east to west by 0.7km north to south that remains open to the north, west and east.

A partly coincident, high contrast arsenic anomaly peaks between 16 to 61ppm arsenic over a grid background level of 1-4ppm arsenic at the west, east and northern ends of the >25ppb gold anomaly.

Moho indicated it is proposing to undertake follow up auger sampling to the north, east and west of the currently defined >8ppb gold anomaly.

“Identification of such a strong gold in soil anomaly in first pass auger drilling is a great result for Moho and our exploration team and confirms the company’s initial assessment of the gold prospectivity of the Burracoppin project, Moho Resources managing director Shane Sadlier said.

“Coincidence of arsenic with the gold anomalism is very encouraging.”

 

Email: admin@mohoresources.com.au

Web: www.mohoresources.com.au

 

Pioneer Resources (ASX: PIO)

THE CONFERENCE CALLER: Wally Graham caught up with Pioneer Resources managing director David Crook who was awaiting the results of recent drilling at the company’s Cade spodumene deposit.

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Pioneer Resources (ASX: PIO) reported receiving assay results from a recently completed drilling program on the Cade spodumene deposit, within the company’s 100 per cent-owned Pioneer Dome lithium-caesium-tantalum project in Western Australia.

Pioneer Resources conducted the drilling in order to test two lithium-caesium-tantalum (LCT) pegmatite targets beneath the previously reported discovery outcrops.

In July this year the company reported that spodumene-bearing LCT pegmatites had been discovered by its geologists at two locations within the Dome North Area.

The company has claimed to have confirmed the discovery of dominantly spodumene-rich deposits.

Assays have been received for drill holes PDRC263 to PDRC277, while those for holes PDRC278PDRC288 are still awaited.

PDRC263 was the discovery drill hole for the Cade spodumene deposit, intersecting:

113 metres at 1.04 per cent lithium dioxide (Li2O).

The company explained this drilling intersected the mineralised pegmatite at an angle near-parallel to the plunge orientation, so while the 113 meters is not truly representative of width, the company considers this hole does give an indication of mineralisation continuity with depth.

Results from further holes drilled at right angles to the Cade spodumene deposit, meaning that the reported intersections are close to ‘true width’, included:

PDRC265
25 metres at 1.61 per cent Li2O;

PDRC267
33m at 1.63 per cent Li2O;

PDRC268
18m at 1.47 per cent Li2O;

PDRC270
23m at 1.36 per cent Li2O; and

PDRC277
10m at 1.60 per cent Li2O.

Results from drilling at the Spodumene 1 Target included:

PDRC275
10m at 1.08 per cent Li2O and 129ppm tantalum pentoxide (Ta2O5).

Pioneer indicated it anticipates receiving the remaining assays before the end of September 2019.

“Having successfully completed its first mining operation at the Sinclair caesium mine, and now well-funded through the sale of pollucite, Pioneer returns to being an active explorer focused on key global demand-driven commodities, looking for its next mining opportunity,” Pioneer Resources said in its ASX announcement.

 

Web: www.pioresources.com.au

 

 

Meteoric Resources (ASX: MEI)

THE CONFERENCE CALLER: Meteoric Resources managing director Andrew Tunks filled us in about the company’s recent Brazilian drilling success at the RIU Resources Investor Roadshow in Melbourne.

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Meteoric Resources (ASX: MEI) received assays from from its maiden drilling program currently underway at the company’s 100 per cent- owned Juruena gold project in Brazil.

Meteoric Resources said the assays related to the first two diamond drill holes of its current campaign, JUDD001 and JUD002, both of which intersected visible gold at the Dona Maria rospect.

DDH JUDD001 intercepted a thick zone of strongly altered granite and assays confirm a broad zone of bonanza grades, including:

20.6 metres at 94.9 grams per tonne gold from 96.8m, including 3.65m at 508.4g/t gold from 107.5m.

DDH JUDD002 intercepted two separate zones of alteration and gold mineralisation returning assays of:

1.1m at 22.68g/t gold from 41.2m; and
4.5m at 6.2g/t gold from 46.6m.

“We were expecting something special from our first holes at Juruena after we intersected visible gold and intense alteration, however the results have exceeded even my expectation,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“In fact, this is the best drilling intercept I have ever been involved with in my career.

“While we were confident of the possibilities based on the historic drilling and the gold we observed, it is very reassuring to have assay numbers that support our interpretation.

“I am extremely proud of what the company and the exploration team has achieved since the acquisition in April.

“We have recruited and deployed excellent staff, contracted and mobilised two drill rigs and struck bonanza grades.

“All done in remarkably quick time.

“We have now completed eight holes and are testing some deeper targets beneath Dona Maria that are very exciting.

“The geological logging, sample dispatch and assay procedures are flowing well ensuring a steady flow of drill results over the coming months.

“Furthermore, we have recognised the untapped potential at the Novo Astro project and moved quickly to execute an exploration and drilling program in tandem with Juruena.”

 

Web: www.meteoric.com.au

 

 

Venture Minerals (ASX: VMS)

THE CONFERENCE CALLER: Wally Graham caught up with Venture Minerals Managing director Andrew Radonjic at the recent RIU Resources Investor Roadshow in Melbourne.

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Venture Minerals (ASX: VMS) recently committed to the recommencement of mining activities at the company’s Riley iron ore mine in Tasmania.

Venture Minerals made the announcement following completion of an updated Riley Iron Ore Mining Study with the associated Pre-Feasibility Study (PFS) delivering strong returns from a low capex two-year project, that the company believes to be well positioned to capture the current higher iron ore price environment.

In addition to completing the study the company, having previously signed a Binding Terms Sheet for the Riley Iron Ore Mine off-take with Prosperity Steel, has now signed a full off-take agreement for the Riley product for 100 per cent of the first two years of iron ore production.

First shipment of ore from the Riley Mine is currently planned for the fourth quarter of 2019, however the company indicated it was continuing to work on additional strategies to further reduce operating costs on the project before the first ore shipment.

These cost optimisation programs will focus on enhancing ore transport solutions.

“This is an exciting phase for the company as it moves from explorer to producer,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The Riley Iron Ore Mining Study demonstrates the delivery of an exceptional Internal Rate of Return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production.

“Venture has brought together an experienced team with a blend of local knowledge that has built, managed and operated iron ore and other similar sized projects, thereby de-risking the execution phase of the Riley project.

“The Riley Iron Ore Mine will create 80 to 100 jobs and will be a boost for the economy of the West Coast of Tasmania.

“We look forward to commencing production shortly.”