Firefinch Drills Old Fashioned Morila Gold Hit

/in , /by

THE DRILL SERGEANT: Firefinch (ASX: FFX) could hardly wait to report results of the first drillhole at the Morila Super Pit, part of the company’s 80 per-cent owned Morila gold project in Mali.

Firefinch’s excitement stemmed from diamond hole MRD0001, that returned:

10.5 metres at 30.4 grams per tonne gold from 309.2m.

Firefinch said the continuity of high-grade mineralisation encountered outside the current Morila Super Pit resource model demonstrates potential for underground mining with initial studies already in progress.

The company is currently waiting on assays for a second drillhole MRD0002, drilled adjacent to MRD0001.

“We were looking for a repeat of the historical high grades in the Morila Super Pit and it’s taken us just one hole to demonstrate that ‘Morila the Gorilla’ is far from done,” Firefinch managing director Dr Michael Anderson said in the company’s ASX announcement.

“This is simply an incredible result from our first diamond core drillhole, which confirms not only the continuity of high-grade mineralisation below the previously mined pit, but also the significant potential for underground mining at Morila.

“This first drillhole is just the beginning; we look forward to ramping up our drilling efforts and to providing a steady flow of results from which to update the Mineral Resource and further optimise the Life of Mine Plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@firefinchltd.com

 

Web: www.firefinchltd.com

 

St George Mining Adds to Mt Alexander EM Conductor Field

/in , /by

THE DRILL SERGEANT: St George Mining (ASX: SGQ) announced location of a new EM target for massive nickel-copper sulphides at the company’s Mt Alexander project, located in the north-eastern Goldfields.

St George Mining reported the EM conductor is modelled with conductivity of 81,000 Siemens, claiming it to be one of the highest of any conductor identified at Mt Alexander to date.

The conductor was observed in the mid to late time data of a recent DHEM survey and recorded a time constant of 100 milliseconds.

The company explained combination of conductivity and time decay of this kind are typical of massive sulphides.

The new EM conductor is coincident with a trend of prominent gravity highs that have been interpreted to represent dense rocks – further confirming the conductor as a compelling target for mineralisation.

Of note, the new conductor is close to several other EM conductors recently identified by the DHEM surveys at West End and Investigators – in drill holes MAD196, MAD199, MAD200 and MAD201.

This field of multiple conductors supports the potential of substantial sulphide mineralisation in this underexplored area of the Cathedrals Belt.

“Our systematic and concurrent use of drilling and downhole EM surveys has delivered another stand-out result with the identification of one of the most exciting EM conductors at Mt Alexander to date,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“We have a 100 per cent success rate in confirming conductors of this kind as nickel-copper sulphides, so we are confident that drilling this target will deliver another discovery of high-grade mineralisation.

“The growing number of significant mineralised intercepts and downhole EM conductors at West End and Investigators demonstrates a very large and fertile mineral system and further supports the potential for a significant deposit in this area.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

Horizon Minerals Reports Richmond-Julia Creek PFS Results

/in , /by

THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) reported on completion of a Pre-Feasibility Study of the company’s Joint Ventured Richmond-Julia Creek vanadium project located in Central North Queensland.

The Pre-Feasibility Study focussed on the higher-grade Lilyvale deposit following an infill drilling program in late 2019, which resulted in an updated JORC 2012 Mineral Resource estimate of 560 million tonnes grading 0.48 per cent vanadium for 2.6 million tonnes vanadium at a 0.3 per cent lower cut-off.

Horizon Minerals reported the updated Pre-Feasibility Study, based on an initial 25-year life (25% of Ore Reserve), demonstrated Richmond-Julia Creek to be a financially strong project with the following key metrics:

Shallow low impact open pit mining producing 101.5Mt of oxide ore at a fully diluted grade of 0.49 per cent vanadium for 19.75Mt of 1.82 per cent vanadium with concentrate production on site;

Refining overall recovery at 86.1 per cent produces 317,500 tonnes of 98 per cent vanadium commercial grade flake with average annual production of 12,700 tonnes vanadium;

Modest up-front capital costs of $242.2 million (US$176.8m) and operating cash costs of $8.66 per pound (US$6.32/lb) of 98 per cent vanadium flake;

At current spot price of $13.15/lb (US$9.60/lb) vanadium the project generates NPV10% of $613 million (US$447.5M) with IRR of 38 per cent and a payback of 3.2 years.

“The Richmond-Julia Creek project is one of the largest undeveloped oxide vanadium resources in the world and can produce globally significant supply for both the steel and emerging energy storage markets,” Horizon Minerals managing director Jon Price said in the company’s ASX announcement.

“Restricted supply and increased demand have resulted in a sustained increase in prices with the initial 25-year mine life at Lilyvale generating an NPV of $613 million at current spot prices.

“What sets this project apart is its minimal impact on the environment with shallow open pit mining, progressive rehabilitation, low capex, conventional processing and first quartile operating costs.

“We look forward to the completion of the DFS in 2022 and believe the project can have significant economic development benefits to regional Queensland and the national economy.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@horizonminerals.com.au

 

Web: www.horizonminerals.com.au

 

Poseidon Nickel Continues Drill Hits at Golden Swan

/in , /by

THE DRILL SERGEANT: Poseidon Nickel (ASX: POS) reported the latest batch of assays results received from a further nine holes of the company’s recent Golden Swan drill program.

Poseidon Nickel kicked off the Golden Swan Resource Definition drilling program in late April 2021, which was designed to increase the company’s confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.

Results include:

PGSD035
0.8 metres at 14.3 per cent nickel from 178.85m;

PGSD042
2.95m at 4.46 per cent nickel from 166.85m;

PGSD044
3.95m at 5.1 per cent nickel from 168m, including 07m at 11.9 per cent nickel from 168.45m;

PGSD045
4.6m at 4.04 per cent nickel from 178.45; and

PGSD047
4.15m at 7.69 per cent nickel from 174.8m, including 1m at 11.6 per cent nickel from 174.8m and 1.15m at 11 per cent nickel from 177.8m.

“The Golden Swan Resource definition drilling program has been completed and assay results continue to be received,” Poseidon Nickel managing director and CEO Peter Harold said in the company’s ASX announcement.

“The latest batch of assays has some good widths and grades, including some very high-grade intervals which will bulk up the tonnes in the mineralised zone.

“Once all the assay results are received, we will be able to prepare a maiden resource which we plan to release late in the September 2021 quarter.

“Drilling is well underway on the Southern Terrace where we are looking for more Golden Swan style high-grade mineralised zones.

“The Silver Swan Reserve Upgrade drill program, which is designed to increase the high-grade nickel mining inventory at Black Swan, should be underway in late August.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@poseidon-nickel.com.au

 

Web: www.poseidon-nickel.com.au

 

Musgrave Minerals Turns Up White Heat Gold Hits

/in , /by

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported continued high-grade gold hits from diamond drilling at the White Heat prospect, 300m south of Break of Day on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia.

Diamond drilling at White Heat (formerly Target 2) has identified further very high-grade gold mineralisation near surface, intersected over a strike extent of 70 to 100 metres.

New intercepts include:

21MODD018
8.4m at 6.8 grams per tonne gold from 27.3m, including 1.2m at 37.2g/t gold from 27.3m

21MODD019
6.8m at 17.8g/t gold from 47m in the hanging wall lode, including 0.7m at 112.9g/t gold from 48.1m; and

3.4m at 107.6g/t gold from 74.6m in the footwall lode, including 1.2m at 303.2g/t gold from 74.6m.

“These are bonanza results and support our previous drilling at the high-grade White Heat deposit,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The White Heat lode is in a similar orientation and geological setting to the high-grade Starlight Lode only 400 metres to the north but is currently not included in a mineral resource estimate.

“These results from White Heat further highlight the potential to discover additional high-grade gold lodes within the project area.

“The combination of near-surface high-grade lodes like White Heat and Starlight, together with the large, moderate grade Big Sky style targets are expected to complement each other and enhance the future development potential of the project.

“Exploration is continuing to deliver strong results and add value for our shareholders.

“Drilling will resume at White Heat in September as we continue to extend the plunge of the mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

AVZ Minerals Confirms Carriere de l’Este Potential

/in , /by

THE DRILL SERGEANT: AVZ Minerals (ASX: AVZ) reported new results from Mineral Resource drilling of the company’s Manono lithium and tin project in the Democratic Republic of Congo.

The latest assay results come from four new, widely spaced ‘step-out’ holes drilled at Carriere de l’Este, located on section lines 200m and 400m NNE along strike from the initial 2017 drill holes.

The company said the new holes have identified additional high-grade spodumene rich zones for future infill resource estimation drill programs.

The Carriere de l’Este pegmatite deposit is now confirmed at 1.2 kilometres long and remains open at both ends and down dip.

High-grade intersections from recent drilling include:

12.05 metres at 2.41 per cent lithium and 735ppm tin;
21.09m ta 2.1 per cent lithium and 943ppm tin; and
16m at 2.49 per cent lithium and 571ppm tin.

“The assay results from these four new holes show highly encouraging mineralisation 400 metres closer to the historical Carriere de l’Este open pit; as well as a more complex geology with intrusions of aplitic pegmatite and dolerite possibly along late-stage faults,” AVZ Minerals managing director Nigel Ferguson said in the company’s ASX announcement.

“The holes were deliberately widely spaced to try and help track the location of the high-grade zones mapped further to the southwest along this massive deposit and to that extent, the drilling has been successful.

“This information will be used to plan focussed infill drilling for the high-grade zones, with a closer pattern required in order to generate near surface Indicated or Measured Resources for possible conversion to reserves, prior to the commissioning of the new processing plant.

“The possible delineation of high-grade future reserves has the potential to initially feed higher grade ore to the plant, providing increased SC6 production volumes from the start of operations.

“This new information has allowed the location of the hanging wall contact to be expanded in areas of poor outcrop, which will help with the efficient targeting of future resource drilling of the overall Carriere de l’Este deposit.

“The drill data has also confirmed the presence of sub-cropping spodumene mineralisation to 1.2 kilometres long at average pegmatite widths of up to 200 metres in places, confirming this deposit as a likely rival to Roche Dure.

“Additionally, drill planning is well advanced on both eluvial laterite hosted tin deposits and the historical F2 and F4 alluvial tin deposits identified from the review of historical tin exploration carried out in the 1980s with drilling expected to commence soon.

“Despite future tin production accounting for only a small percentage of the project’s overall revenue, a strengthening tin and tantalum price continues to justify some exploration expenditure to gain information on the potential scale of these deposits which may sustain a separate placer tin mining business on the concession.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@avzminerals.com.au

 

Web: www.avzminerals.com.au

 

St George Mining Completes Initial Paterson Project Drilling

/in , /by

THE DRILL SERGEANT: St George Mining (ASX: SGQ) advised of completion of the first drilling program undertaken at the company’s Paterson project, located within the Paterson region of Western Australia.

St George Mining’s maiden drill program at the Paterson project commenced in early June with 10,000m of planned air core (AC) and reverse circulation (RC) drilling.

The program comprised several wide spaced drill traverses designed to test the lithology and depth of cover across a 35 kilometres strike of prospective stratigraphy.

St George was encouraged by multiple drill holes intersecting prospective basement rocks, including chalcopyrite bearing, intensely altered and gossanous metasediments.

The company considers these rocks to be indicative of potential base metal and gold mineralisation in the project area.

“The inaugural drill program at our Paterson project is delivering great results with confirmation of basement rocks that are known to host major copper and gold deposits in the Paterson region,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“The RC rig has done its job at Paterson and has now mobilised to our Mt Alexander nickel-copper sulphide project in the Goldfields to drill a range of new targets as well as complete some resource definition drilling.

“We will announce more about the Mt Alexander drilling shortly.

“The next phase of drilling at Paterson will be with diamond core drilling – this will be deeper drilling to further test the emerging copper and gold targets that we have identified.

“A diamond rig is scheduled to arrive at Paterson in mid-October, which gives us time to first complete an important airborne EM survey over the high-priority areas of interest.

“The data from this survey will assist to better define the copper and gold targets for the diamond drilling.

“We are also pleased to launch our first exploration work at our second Paterson tenement – E45/5422 – with a gravity survey to be completed there later this month.

“The Paterson region has already delivered several major copper and gold discoveries.

“As a new entrant to the region, we are excited that our maiden drilling program has delivered such encouraging signs about the fertility of our ground for base metal and gold mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@stgm.com.au

 

Web: www.stgm.com.au

 

Musgrave Minerals Reports Further Big Sky Gold Hits

/in , /by

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further strong assay results from reverse circulation (RC) drilling at the Big Sky prospect along a newly identified gold corridor south-west of Lena and Break of Day on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia’s Murchison district.

Musgrave Minerals received assays for a further 35 RC drillholes it said continue to define thick regolith gold mineralisation within the 2.6km-long aircore gold anomaly at Big Sky.

Gold mineralisation remains open to the south and down dip at Big Sky where RC drilling is continuing.

New intersections include:

21MORC124
18 metres at 2 grams per tonne gold from 18m;

21MORC130
18m at 1.2g/t gold from 18m;

21MORC132
24m at 1.7g/t gold from 24m; and

21MORC141
30m at 1g/t gold from 30m.

Musgrave also received one-metre resample assays from previously reported six-metre composites from 24 resource definition RC drill holes at the Big Sky prospect, which confirmed the results from the six-metre composite sampling.

Re-assaying of one-metre samples from original composites returned:

21MORC101
73m at 1.4g/t gold from 41m, including 5m at 10.1g/t gold from 72m;

21MORC082
36m at 1.3g/t gold from 30m, including 11m at 3g/t gold from 55m; and

21MORC095
9m at 1.8g/t gold from 75m.

“Big Sky is proving to be a significant large scale gold system and the RC drilling continues to return strong results of near surface gold mineralisation within the 2.6 kilometres long corridor,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The continuity of the broad near-surface gold mineralisation intersected to date is very encouraging and demonstrates we are onto a large gold system at Big Sky with the potential to deliver a significant near surface resource.

“Unfortunately, assay turnaround has been slow but is starting to improve.

“We are still awaiting assays for more than 57 RC drill holes from Big Sky and we look forward to updating the market with further results as assays are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

 

PVW Resources Kicking Off Tanami Exploration at Watts Rise

/in , /by

THE DRILL SERGEANT: PVW Resources (ASX: PVW) is set to commence exploration activities on the Watt Rise prospect at the company’s Tanami project in Western Australia.

PVW Resources will be following a path laid by previous owners that drilled gold mineralisation at Watts Rise in 2010.

The ground-based exploration program commencing in August at the Watts Rise prospect will test for surface gold and pathfinders along the Watts Trend and further afield, using an airborne geophysical survey with the aim of completing detailed geophysical coverage of the Tanami project.

Subsequent interpretation of airborne geophysics will focus on defining new regional drill targets for gold and rare earth elements and refining existing targets in preparation for drilling later this year.

“It is hard to believe that the last hole drilled at the project, which intersected highly significant mineralisation, has not been followed up in nearly a decade,” PVW Resources executive director George Bauk said in the company’s ASX announcement.

“Drilling at the Watts Rise prospect has intersected multiple gold horizons but there has been a lack of detailed geological interpretation undertaken by previous explorers.

“We are now on the ground and about to commence the next chapter of exploration.

“Over the past decade, we have seen Northern Star develop a significant land holding in the Tanami Region and most recently Encounter Resources has announced its intent to spin out its Tanami project into a new company focussed on the region.

“The potential of the region is highlighted by the world class Callie deposit which is owned and operated by Newmont Gold, the world’s largest gold company.

“Only a handful of companies hold significant land positions in the region, and we are 100 per cent holders of over 1,000 square kilometres of contiguous tenements with outstanding drill intersections to work with.

“Our team is employing a structured approach to the exploration activities with the completion of detailed airborne geophysical coverage and on ground activities prior to the company’s maiden Tanami drilling program planned for the end of the year.

“The project is well serviced with the Tanami Road intersecting the southern part of our tenement holding and the Coyote Gold Mine Camp provides a convenient and close base to operate from.

“We have expertise in our team on a number of fronts including a long history of exploring in the area for multiple commodities, gold exploration expertise globally and operational experience in the immediate region.

“The journey is now beginning for PVW in the Tanami and we look forward to the outcomes of our efforts in the coming quarters and years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@pvwresources.com.au

 

Web: www.pvwresources.com.au

 

Rox Resources Continues High-Grade Youanmi Gold Hits

/in , /by

THE DRILL SERGEANT: Rox Resources (ASX: RXL) provided an update on continuing drilling underway at the company’s Youanmi gold project near Mt Magnet in Western Australia, a joint venture with Venus Metals Corporation Limited (ASX: VMC).

Rox Resources reported assay results for four RC holes and two diamond holes from the current drilling program at Youanmi, drilled during May after a global Resource upgrade at Youanmi to 1.7 million ounces at 2.85 grams per tonne gold in June.

Results are pending for 14 RC and 14 diamond holes with drilling ongoing.

Highlights from latest results include:

RXRC402
17 metres at 5.14 grams per tonne gold from 151m, including 11m at 7g/t gold from 156m (Link)

RXRC396
9m at 4.57g/t gold from 148m (Junction)

RXRC397
2m at 10.02g/t gold from 268m (Youanmi South)

In conjunction with the high-grade intersection in RXRC402, assays were also received from two diamond extensional holes drilled at the Link deposit.

The results sit outside the current resource and demonstrate continuity of high-grade mineralisation at depth, including:

RXDD011
6.53m at 2.42g/t gold from 288m, including 1.71m at 6g/t gold from 289.2m and 3m at 3.47g/t gold from 309m.

RXDD012
2.03m at 7.18g/t gold from 450.15m.

Parallel hanging wall lodes above this returned 3.8m at 2.4g/t gold from 432.2m and 1.28m at 2.71g/t gold from 406.72m.

“We are very pleased to announce ongoing successful drilling results,” Rox Resources managing director Alex Passmore said in the company’s ASX announcement.

“These high-grade results at Link will contribute to resource growth at Youanmi.

“They transform an area at relevant mining depths that were previously modelled as low grade into a priority zone for adding ounces.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@roxresources.com.au

 

Web: www.roxresources.com.au