Saturn Metals Confirms High-Grade Mineralisation at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the first results from the 2020 reverse circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Apollo Hill gold project in Western Australia.

Saturn Metals is currently drilling at Apollo Hill as part of its efforts to rapidly expand and improve the newly discovered high-grade hanging wall zone and to grow and improve the project’s current Mineral Resource.

High-grade, thick and shallow intersections were achieved in the latest step out drill hole:

AHRC0330
8 metres at 12.9 grams per tonne gold from 126m within 14m at 7.75g/t gold from 120m, and;

5m at 8.03g/t gold from 111m.

These intersections follow on from recently released results of:

AHRC0312
12m at 9.98g/t gold from 269m and 11m at 3.2g/t gold from 208m in hole

Saturn Gold believes the results combine to provide important evidence of the repeatability of high-grade mineralisation in the Apollo Hill hanging walls.

The latest results also provide an important vector for additional discovery with several high-grade stacked lodes now interpreted.

As before, the new intersections sit outside, but adjacent to, the current Mineral Resource of 24.5 million tonnes at 1g/t gold for 781,000 ounces of gold and highlight the potential to increase the grade, quality and scale of the resource.

“These excellent results have provided strong evidence of the repeatability of high-grade mineralisation in this thick mineralised corridor,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Drilling continues to show the potential for significant resource improvement and growth immediately adjacent to the initial Apollo Hill zone.

“Key vectors for additional discovery are now apparent.

“Drilling continues with two rigs focussed on follow up drilling around this important zone and several assays are pending.

“We look forward to the ongoing results flow and to including the new information into our next resource update currently scheduled for mid-2020.”

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Matsa Resources Extends Fortitude North Mineralisation

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has received early results from diamond drilling at Fortitude North, located within the company’s Lake Carey gold project in Western Australia.

Matsa Resources originally planned for a four0hole drilling program, however it ended up completing seven drill holes (20FNDD02 – 20FNDD08) and has to date received assay results for only two of these.

Drilling was designed to test the strike extent of gold mineralisation the company had previously intersected by diamond and RC drilling in 2018 and 2019.

Drilling at the time was limited to only the northern end of a 1,500 metre long basement gold anomaly discovered by Matsa’s aircore drilling in 2018.

“All seven diamond drill holes intersected alteration and veining which appear to be a continuation of the mineralised zone,” Matsa Resources said in its ASX announcement.

“This program has tested only half of the 1,500m basement gold anomaly.”

Key intercepts include:

20FNDD02
4 metres at 13.63 grams per tonne gold from79m, including 1m at 10.2g/t gold from 81m and 1m at 42.9g/t gold from 82m; and

20FNDD04
10.3m at 3.48g/t gold from 124.6m, including 6.5m at 4.79g/t gold from127m, including 1m at 13.9g/t gold from 127m.

“Originally only four drill holes were planned but due to the presence of distinctive and highly prospective alteration and veining, the program was expanded to seven drill holes,” Matsa explained.

“Further drilling is planned over the remaining strike extent of the anomaly and to test the resource potential of this discovery.”

 

Email: reception@matsa.com.au

Web: www.matsa.com.au

 

Ardiden Identifies High-Grade Gold Hits in Pickle Lake Review

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THE DRILL SERGEANT: Ardiden Limited (ASX: ADV) scored well from a recently completed review of historical drillhole data at the company’s Pickle Lake gold project in Ontario, Canada.

Ardiden reported that the review revealed numerous high-grade drill intercepts up to 472.8 grams per tonne gold over a 25 kilometres strike length.

The data under review concerned Ardiden’s recent acquisition over the New Patricia gold property with Exiro Minerals Corp as well as Ardiden’s 100 per cent-owned Dorothy-Dobie gold property.

The New Patricia and Dorothy Dobie tenements extend over a continuous length of 40 kilometres of under-explored yet prospective geological setting, directly along strike from the historical Golden Patricia gold mine.

Highlights of the drillhole intercepts revealed from the review of the diamond drilling include:

DOR-90-043
0.5 metres at 472.8 grams per tonne gold from 184.1m;

DOR-07-005
0.44m at 153.5g/t gold from 111.4m;

MD-90-119
0.32m at 26.4g/t gold from 60.34m;

MD-90-113
0.4m at 17.5g/t gold from 54.12m;

DOR-88-034
1.5m at 13.7g/t gold from 43.32m;

MDW-90-026
1.1m at 12g/t gold from 71.72m;

DOR-88-028
8.63m at 5.5g/t gold from 55.82m, including 3.8m at 10.8g/t gold;

DOR-88-025
20.65m at 3.6g/t gold from 96.85m, including 1.5m at 14.9g/t gold;

DOR-88-032
7.12m at 3.6g/t gold from 113.06m; and

ME-88-08
12.03m at 3.2g/t gold from 29.9m, including 0.9m at 13.5g/t gold.

“Our review of historical data provides clear evidence of significant extensions of high-grade gold mineralisation on our ground along strike of the historical underground gold mine at Golden Patricia,” Ardiden managing director Rob Longley said in the company’s announcement to the Australian Securities Exchange.

“In addition to good width intercepts of high-grade gold, this data shows numerous spectacular grade intercepts along a 25 kilometres strike.

“An intersection of 472.8 grams per tonne gold over half a metre supports our exploration strategy to focus on high-grade lode-style gold mineralisation.

“Our aggregation of a compelling ground holding at the Pickle Lake gold project has a clear objective of defining the next world class gold deposit in Ontario.”

The historical data set that Ardiden compiled and reviewed together with Exiro’s proprietary data included 480 drillholes representing over 38,000m of drilling over the 25km strike length.

Some drilling dates back to 1971, with the most recent drillholes being completed in 2009.

This is the first time the results have been reported under the JORC Code 2012.

 

Email: info@ardiden.com.au

 

Web: www.ardiden.com.au

 

Bellevue Gold Drilling Results to Contribute to Resources Update

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THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Bellevue Gold currently has eight diamond core rigs operating across both exploration and resource infill drilling at the project.

The company declared the recent results from all the resource domains currently targeted with infill drilling have confirmed robust underground mineable widths and grades of the lodes and excellent continuity to the plunging ore shoots.

The latest infill diamond drilling results include:

Viago Lode

DRDD240
4.7 metres at 32.7 grams per tonne gold from 600.7m;

DRDD236
3.2m at 20.8g/t gold from 585.8m; and

DRDD294
4.6m at 10.4g/t gold from 376.5m.

Tribune Lode

DRDD337
5.7m at 17.4g/t gold from 329.3m;

DRDD376
8.2m at 7.9g/t gold from 123.9m; and

DRDD382
2.9m at 36.5g/t gold from 137.4m.

Bellevue Lode

DRDD319
4.3m at 27.6g/t gold from 140.6m;

DRDD306
2.5m at 22.4g/t gold from 116.5m; and

DRDD355
2.4m at 22.8g/t gold from 418.6m and 1.5m at 16.3g/t gold.

Vlad Lode

DRDD349
1.9m at 23.1.4g/t gold from 224.7m;

DRDD350
2.9m at 15.3g/t gold from 184.2m; and

DRDD316
12.5m at 5.5g/t gold from 237m.

Bellevue Gold considers these results important because they strongly support the company’s geological model, which predicts gently-plunging high-grade shoots within the mineralised envelop.

This interpretation is consistent with shoots that were mined at Bellevue underground from 1986 – 1997, when the low prevailing gold price forced the operation to be closed.

The mine produced 800,000 ounces at around 15 grams per tonne in this time.

Bellevue’s independent JORC Inferred Resource currently stands at 1.8 million ounces at 11.1g/t gold.

The company is on track to publish its maiden Indicated Resource next quarter and mining studies are set to commence in the September quarter.

“These outstanding results continue to demonstrate the large potential of this asset,”: Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The grades are very high, the mineralisation is consistent and the geometry is in line with our model.

“These latest results will feed into our coming Indicated Resource estimate, which will go a long way to de-risking the project.

“Drilling is continuing at a frenetic pace with eight rigs operating and we are preparing to start mining studies in the next quarter.

“Everything we are seeing supports our view that Bellevue is set to become a significant WA gold producer with high grades and substantial growth potential.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

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THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Antipa Minerals’ Citadel project sits 80 kilometes north of Newcrest’s Telfer gold‐copper‐silver mine and within five kilometres of Rio Tinto’s recent Winu copper‐gold deposit.

Exploration at Citadel is being fully funded by Rio Tinto Exploration Pty Limited pursuant to a Farm‐in and Joint Venture Agreement.

A 2019 Gradient Array Induced Polarisation survey undertaken at the Citadel project JV with Rio Tinto identified six new greenfield gold‐ copper targets that the JV proposes to be drill tested in 2020.

These new targets are all located within 30 to 40km of Rio Tinto’s Winu copper‐gold‐silver deposit within a similar geological setting.

Citadel currently hosts a global Mineral Resource of 63.8 million tonnes at 0.8 grams per tonne gold and 0.2 per cent copper for 1.6 million ounces of gold and 127,000 tonnes copper.

Results from an Airborne gravity survey over the Citadel project are expected to hit the Antipa desktop in March.

As for now, Rio Tinto is moving ahead with the next stage of the Citadel project earn‐in whereby it can increase its interest to 65 per cent by sole funding $14 million in exploration expenditure.

nder the terms of the Farm-in Agreement, Rio Tinto may spend an additional $14 million within five years to increase its interest in the Citadel JV from 51 per cent to 65 per cent.

Subject to Rio Tinto earning the 65 per cent interest in the JV and Antipa then electing not to contribute to expenditure to maintain its 35 per cent interest, Rio Tinto has the ability to increase its interest to 75 per cent by sole funding a further $35 million within a further three years with the total of Rio Tinto’s sole funding potentially being $60 million.

 

Web: www.antipaminerals.com.au

 

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

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THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has hit more than 60 metres of strong alteration and disseminated sulphides including chalcopyrite and pyrite with the first diamond core drill hole of a maiden multi-hole drill program at the company’s 100 per cent-owned Wolf Mountain project in Sweden.

Alicanto Minerals is drilling at Wolf Mountain, targeting multiple large-scale, high-grade, copper-gold targets it had identified by Induced Polarisation (IP) chargeability and resistivity anomalies for potential disseminated and semimassive sulphide mineralisation.

The company’s earlier mapping and sampling activities identified numerous, sub-parallel lines of ancient shallow mine workings over more than a kilometre with rock chips up to 11.9 per cent copper and 2.9 grams per tonne gold at Wolf Mountain.

The company reported that the maiden drilling program has intersected more than 60 metres of disseminated chalcopyrite mineralisation from 54.25 to 117.5 metres down hole, ending in disseminated mineralisation.

“Alicanto is excited to announce that maiden diamond core drilling targeting multiple large-scale, high-grade copper-gold mineralisation at Wolf Mountain in Sweden has intersected at least 60 metres of disseminated sulphides of typically one to five per cent, including logged chalcopyrite and pyrite mineralisation and intense wall rock alteration in the first drill hole,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.

“Initial geophysical Induced Polarization surveying (IP) at the Wolf Mountain prospect last year identified multiple, large-scale anomalies that have never been drill tested prospective for high-grade copper-gold mineralisation.

“Previously mapped, mineralised trends with coincident high-grade rock-chips of up to 11.9 per cent copper at surface were highlighted by the survey but, excitingly, further large-scale targets were also been identified under thin glacial cover.

“This drilling represents the first of these exciting new targets to be tested.

“Drilling is interpreted by Alicanto geologists to have intersected the margins or ‘halo’ of what could be a large-scale mineralising system in the Wolf Mountain area.

“The rig has now been mobilised towards the interpreted geophysical higher intense anomaly of the system. Drill results will be anticipated over the coming weeks.”

 

Email: admin@alicantominerals.com.au

Web: www.alicantominerals.com.au

 

Musgrave Minerals More Than Doubles Lena Deposit Gold Resource

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported a substantial resource update at the company’s 100 per cent-owned Lena gold deposit on the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals has increased the total Indicated and Inferred Mineral Resources for the Lena deposit taking it to 4.3 million tonnes at 2.3 grams per tonne gold for 325,000 ounces of contained gold.

To put things in perspective, since the previous Mineral Resource estimate that was achieved in July 2017, Musgrave Minerals has added 172,000 ounces of gold, increasing the Mineral Resources at Lena by 112 per cent and improving the overall grade of the deposit by 28 per cent to 2.3g/t gold.

The company explained the resource update incorporates the results of intensive reverse circulation (RC) and diamond drilling programs it has completed over the past six months.

The updated total Indicated and Inferred Mineral Resources for the Cue project, incorporating the Lena and Break of Day deposits and several smaller deposits, now stands at 6.45 million tonnes at 3g/t gold for 613,000 ounces of contained gold.

“We are continuing to make new discoveries and grow the existing 100 per cent-owned gold resources at Cue,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This latest update significantly grows the contained ounces in the Lena Resource and improves the overall grade of the deposit while also delivering a major uplift in the geological confidence by reducing the drill hole spacing of the near surface component and thus growing the Indicated Resource category.

“With drilling underway at the nearby high-grade Break of Day and Mainland-Consols deposits we are looking forward to more exciting results as the programs progress.”

Musgrave has executed an $18 million Earn-in and Exploration Joint venture with Evolution Mining (ASX: EVN) over the Lake Austin portion of the Cue project.

The Break of Day, Lena and Mainland areas are excluded from the Earn-in and Exploration Joint Venture with Evolution Mining.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

Impact Minerals Ramps Up NSW Exploration Focus

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) declared it would be picking up the exploration pace at the company’s Broken Hill and Commonwealth projects in New South Wales.

Impact Minerals said exploration at these sites is being invigorated under a new 2020 focus for the company underpinned by current record Platinum Group Metal (PGM) prices, palladium and rhodium in particular, and the recent Boda-Kaiser copper-gold discovery of Alkane Resources (ASX: ALK) near Dubbo.

The company explained its 2020 campaign will build on previous work by Impact and others in the Broken Hill area which resulted in the discovery of some the highest grades of all six Platinum Group Metals (PGM: platinum, palladium, rhodium, osmium, ruthenium, iridium) in Australia, together with exceptional nickel-copper grades along a 40 kilometres long belt southeast of Broken Hill.

Three key prospects for follow-up work including drilling, have been identified: these are Red Hill, Platinum Springs, and Little Broken Hill.

Across at Impact’s Commonwealth project, the company is waiting on assays from rock chip samples taken as follow-up to reconnaissance work on four key targets for porphyry copper-gold mineralisation along trend from and close to the Boda-Kaiser porphyry copper-gold discovery and where follow-up drilling by Alkane Resources is in progress.

Impact’s four targets are Boda South, Apsley, Spicers Creek and Greenobbys.

The company has also identified one new target area, Gladstone, along trend to the south of the prospects Bodangora and Lady Ilse, recently identified by Magmatic Resources (ASX: MAG).

“We are excited to be returning to explore at Broken Hill and Commonwealth where Impact has generated some highly prospective targets for currently high-priced precious metals and where followup work including extensive drilling, is required,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“The company is busy designing drill programs at Red Hill and other prospects at Broken Hill to follow-up the exceptional grades discovered in our earlier work there.

“This includes drilled grades of up to 250 grams per tonne or nearly nine ounces per tonne of palladium, together with very high-grades of platinum and even exceptional levels of the rare PGMs, rhodium, currently at US$9,500 per ounce, osmium, iridium and ruthenium.

“At Commonwealth, Impact has identified five targets close to the recent Boda-Kaiser discover with potential for porphyry copper-gold mineralisation.

“We are awaiting assays from rock chip samples to help prioritise follow-up work, which will include soil geochemistry surveys and ground geophysics to identify targets that will be drilled after Broken Hill.”

 

Email: info@impactminerals.com.au

Web: www.impactminerals.com.au

 

Golden Rim Extends Gold Lodes at Kouri Project

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THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) reported the latest drilling results from a major exploration campaign underway at the company’s Kouri gold project in Burkina Faso.

Mineral Resource extensional drilling on the Kogodou prospect has confirmed eastern strike extensions up to 350 metres for the multiple gold lodes that comprise the project’s 1.4 million ounce Mineral Resource.

Best of the latest gold intercepts include:

BADH014
15 metres at 1.2 grams per tonne gold from 7m, including 1m at 11.6g/t gold and a 1m artisanal mining cavity; and

GDH004
8m at 2.2g/t gold from 106m, including 1m at 14.3g/t gold.

Golden Rim has assays pending for drill holes located up to 700m east of the Mineral Resource where it indicated it has observed strong, multiple zones of quartz – pyrite mineralisation, which is generally associated with gold at Kouri.

The company believes this suggests potential for further extensions to the gold lodes exists, adding that the results continue to confirm the potential for a major strike extension to the east of the Mineral Resource and into the Kogodou prospect where high-grade gold results have been obtained in rock chip sampling over multiple structures for approximately four kilometres.

Drilling is ongoing at the Kogodou prospect with a Mineral Resource update scheduled for the June 2020 quarter.

“At present, we are systematically stepping out to the east of the existing 1.4 million ounce Mineral Resource at Kouri, along a major cross-structure and completing fences of drill holes at 100 metre intervals,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.

“To date, we have drilled holes over 700 metres to the east of the Mineral Resource.

“The results so far have been impressive and we still have a further three kilometres along this cross-structure to explore.

“There are also an additional three cross-structures that we have identified to the east of the Mineral Resource that have returned high-grade gold in rock chip samples and which are yet to be drilled.

“We believe the potential to considerably expand the Mineral Resource at Kouri is huge.”

New infill drilling has also been carried out in the sparsely drilled northeast portion of the Mineral Resource that has confirmed the continuity of the gold lodes in this area.

Healthy intercepts have been encountered, including:

BADH015
6m at 1.9g/t gold from 0m, including 1m at 10.1g/t gold and 7m at 1.7g/t gold from 45m.

Elsewhere, regional drilling at Diabatou East, 9km northeast of the Mineral Resource, encountered a gold intercept of:

MRC025
2m at 5.7g/t gold from 114m.

This was achieved in the first drilling to test a 1.7km long IP chargeability anomaly highlighting the potential for the discovery of further mineralisation.

 

Email: info@goldenrim.com.au

Web: www.goldenrim.com.au

 

Gold Road Releases 2020 Gruyere Guidance and Resource Upgrade

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) reported 2020 production guidance and a Resource upgrade for the Gruyere Joint Venture.

The Gruyere JV is a 50:50 deal with Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd Group, which manages and operates the Gruyere gold mine.

Drilling completed by the JV in 2019 resulted in a 1.23 million ounce (29%) increase in Measured and Indicated Resources to 6.1 million ounces at the Gruyere JV through the upgrade of Inferred Resources to Indicated Resources.

The Gruyere JV Total Mineral Resource now stands at 154 million tonnes at 1.34 grams per tonne gold for 6.6 million ounces after mining depletion of 0.19 million ounces using an $1,850 per ounce gold price assumption.

The Resource upgrade is expected to provide the basis for an updated evaluation of open pit Reserves during 2020.

Gold Road’s attributable Mineral Resources increased from 3.3 million ounces to 3.6 million ounces (post depletion) largely through the addition of 100 per cent-owned Resources in 2019 from its satellite projects.

2020 annual guidance anticipates Gruyere gold production of 250,000 to 285,000 ounces (125,000 to 142,500 ounces GOR).

Gold Road’s all‐in‐sustaining costs (AISC) should fall between $1,100 to $1,200 per attributable ounce.

The company’s upcoming exploration budget sits at an impressive $26 million.

“The purpose of our 2019 drilling program beneath the Gruyere pit shell was to convert Inferred Resources into Indicated Resources,” Gold Road Resources managing director and CEO Duncan Gibbs said in the company’s announcement to the Australian Securities Exchange.

“The increase in Measured and Indicated Resources by 1.2 million ounces is meaningful and very encouraging.

“The Gruyere JV focus will now move to reviewing Reserves with the goal of growing mine life whilst maintaining a low AISC.

“2020 production and cost guidance affirms Gruyere’s position as a Tier 1 operation with significant cash generation.

“Our exploration team is well supported as we look to make meaningful discoveries in a surprisingly underexplored part of Western Australia.”

 

Email: perth@goldroad.com.au

Web: www.goldroad.com.au