Southern Gold Confirms Deokon Mineralisation

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THE DRILL SERGEANT: Southern Gold (ASX: SAU) announced assays for a maiden diamond drilling program undertaken at the company’s Deokon project in South Korea.

Southern Gold carried out the drilling of six scout diamond drill holes at the Bonanza Zone as a first pass drill program to test high gold and silver grades the company had visualed in outcrop with close spaced drilling to determine the true width of the mineralised zone and gold and silver grade at depth.

The company declared the s scout program confirmed mineralisation at depth, albeit at lower grade tenor.

Results from the drilling include:

DKDD004
0.15 metres (0.11m estimated true width (ETW)) at 4.59 grams per tonne gold, 708g/t silver from 42.35m; and

0.23m (0.17m ETW) at 1.13g/t gold, 211g/t silver from 41.77m.

DKDD002
0.34m (True width) at 1.4g/t gold, 8.1g/t silver from 26.78m.

“We are pleased to have been able to drill the first program at the Golden Surprise Trend within such a short timeframe after reconnaissance exploration,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“This demonstrates our ability to quickly drill test newly generated targets.

“While these first pass results are lower in grade tenor than expected, plenty of potential remains at our 100 per cent-owned Deokon project, both locally and regionally.

“Clearly the area has seen some rich mineralised fluids with bonanza grade gold and silver on surface and two historical mines, one of which, Shin Hill, has never been drilled at depth.

“Further work is required at Deokon to fulfil its potential, along with Southern Gold’s numerous other exploration projects in South Korea, including several newly defined ones from our project generation initiative, which we will report on shortly.”

Souther Gold also reported on extensive field work completed during November 2019 in three separate districts in South Korea that produced several anomalous gold and silver results.

The three regions investigated were the South Jeolla District surrounding the company’s Neungju project, the Seongju District on the margin of the Gyeongsang Basin and the Yeongdong District surrounding the company’s Weolyu project.

New assays returned a peak of 4.75g/t gold from the Yeongdong District and 930g/t silver from the Seongju District, both from historical mine working dumps.

A new discovery in the South Jeolla District at Daeam Valley, with peak assay of 4.36g/t gold in Float, exhibited classic high-level low-sulphidation epithermal textures similar to Southern Gold’s Neungju project.

“These anomalous results show that there are an incredible number of project opportunities in South Korea,” Mitchell said.

“We know where our target areas are, and it is basically just a matter of putting boots on the ground to cover the areas required and conduct this first pass reconnaissance sampling.

“We intend to increase this effort in 2020 to build a long pipeline of quality projects to unlock the enormous exploration potential of South Korea.”

 

Email: info@southerngold.com.au

Web: www.southerngold.com.au

 

Pantoro Releases Additional Daisy South and Gladstone-Everlasting Results

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THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released additional drilling results from the Daisy South and Gladstone-Everlasting deposits at the company’s 50 per cent-owned Norseman project in Western Australia.

Pantoro has been drilling in the area since September 2019 and expects to complete drilling on the prospects during the coming weeks in advance of re-estimation of the current Mineral Resource.

The Daisy South and Gladstone-Everlasting deposits are part of the Gladstone Mining Centre, one of the six key focus areas for Pantoro at Norseman.

Drilling in and around the existing Mineral Resource area has identified a wide zone of mineralisation at Daisy South supporting the structural model.

Drilling at Gladstone-Everlasting has demonstrated continuity of the higher-grade mineralisation, while indicating southern extensions to the Everlasting deposit outside of current indicative open pit optimisations.

Pantoro already has additional drilling around these extensions underway.

Continuity of mineralisation at both Daisy South and Gladstone-Everlasting has been confirmed with best new results including:

Daisy South

31 metres at 3.75 grams per tonne gold;
2m at 3.67g/t gold;
3m at 4.01g/t gold; and
3m at 4.13g/t gold.

Gladstone-Everlasting

2.8m at 20.07g/t gold;
2.02m at 8.35g/t gold;
0.95m at 24.55g/t gold;
2.02m at 8.35g/t gold; and
2.4m at 3.41g/t gold.

Pantoro indicated it has re-modelling of the Mineral Resource at the Gladstone Mining Centre underway using both existing and new drilling data.

Once this is completed, the company expects mine planning and Ore Reserve definition for the deposit will commence during the current quarter.

The current Mineral Resource at Gladstone-Everlasting is approximately 250,000 ounces.

“Norseman continues to return excellent results, and the site is shaping up to be a significant near term multi-mine production centre, as we expected when acquiring the project,” Pantoro managing director Paul Cmrlec said in the company’s announcement to the Australian Securities Exchange.

“We remain focussed on the mine planning and infrastructure works required for recommencement of operations in line with the project timeline.”

 

Email: admin@pantoro.com.au

Web: www.pantoro.com.au

 

Matsa Resources Encounters Gold in New Olympic Target

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) released further results from its December 2019 RC drilling program, which was designed to test a number of exploration targets close to the company’s Red October gold mine in Western Australia.

Matsa Resources said the drilling, included eight RC holes completed at the newly acquired Olympic target.

The Olympic target is a new exploration target previously unexplored by Matsa and only 800 metres west of its Devon gold mine where high-grade gold results were recently announced.

Drilling at Olympic returned a number of highly encouraging gold intercepts including:

19ODRC005
8 metres at 6.94 grams per tonne gold, including 3m at 16.3g/t gold;

19ODRC001
2m at 16.6g/t gold, including 1m at 28.6g/t gold;

19ODRC008
1m at 4.57g/t gold; and

19ODRC007
1m at 4.1g/t gold.

The Olympic target has not been previously explored by Matsa,” Matsa Resources said in its ASX announcement.

“These results reaffirm Matsa’s view of the high prospectivity and potential of its Lake Carey gold project in the Eastern Goldfields of Western Australia.”

 

Email: reception@matsa.com.au

Web: www.matsa.com.au

 

Ausgold Intersects Further High-Grades at Katanning

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THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) released the latest drilling results achieved at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed a program of RC drilling in December 2019 within the Central Zone targeting extensions of previously identified high-grade gold mineralisation at the Jinkas South and Jackson deposits.

The company believes high-grade mineralisation in both areas has the potential to add both grade and total ounces to the KGP Mineral Resource, which currently stands at 33.1 million tonnes at 1.1 grams per tonne gold for 1.2 million ounces of gold.

Most of the December drill program was conducted at Jinkas South targeting high-grade gold mineralisation.

The drilling intersected several broad zones of gold mineralisation which show continuity along 400 metres of strike length, including:

BSRC0916
12 metres at 3.52 grams per tonne gold from 120m, including 3m at 9.64g/t gold;

BSRC0916
1m at 5g/t gold from 54m and 1m at 9.81g/t gold from 117m;

BSRC0914
18m at 0.97g/t gold from 120m including 1m at 10.25g/t gold from 123m;

BSRC0918
20m at 0.94g/t gold from 119m and 1m at 11.2g/t gold from 142m;

BSRC0918
13m at 1.11g/t gold from 99m including 2m at 2.18g/t gold from 107m;

BSRC0909
22m at 0.85g/t gold from 132m; and

BSRC0910
23m at 0.8g/t gold from 126m.

Ausgold said the he recent drilling at Jinkas South had better delineated the high-grade mineralisation in south-eastern portion of the defined Resource.

The company indicated its ongoing work on the geology of the Jinkas South area is focusing on the key host rock associations and the accompanying alteration zones, which primarily contain pyrrhotite and biotite (potassic) alteration, as well as strike slip faults in the area.

“Following the recent capital raise Ausgold is now well funded to conduct a significant exploration program at Katanning,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The initial results from RC drilling within the Central Zone have validated new geological concepts which have the potential to significantly extend Resource areas and to add high-grade ounces to the current 1.2-million-ounce gold Resource at Katanning, as well as extending high-grade mineralisation outside of current optimised pit shells.

“Further work is currently being undertaken to better delineate high-grade gold mineralisation down dip and along strike from the Jinkas trend.

“This high-grade gold mineralisation, down dip and east of the current Resource, has been intersected over 400 metres and remains open both down dip and along strike.

“In addition to the near-Resource drilling, Ausgold is targeting mineralisation in nearby regional identified areas such as the Burong and Cleggs Bend prospects.

“These areas are located within five kilometres of the main Resource and have potential for the discovery of significant new gold mineralisation.”

Ausgold has commenced a 4,500m aircore drill program to test regional targets at the above mentioned Burong and Cleggs Bend prospects.

The company has commenced planning for a high-impact RC drill program in February 2020 within the Central Zone, targeting high-grade gold mineralisation.

This will be followed by RC drilling of regional targets, including Burong and Nanicup Bridge prospects, which is to be partially funded by the WA Government Exploration Incentive Scheme.

Additional field work is being completed within the regional KGP, which includes mapping, reconnaissance rock chip sampling and auger programmes being conducted over six prospects.

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

Encounter Resources Intersects Tanami Bedrock Gold

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported on recent drilling activities undertaken at the Afghan and Mojave prospects in the Tanami region of Western Australia with Joint Venture partner Newcrest Mining.

Encounter Resources said the drilling had identified bedrock gold mineralisation and geological controls at both prospects with the mineralisation hosted by structures developed within folded dolerite units, which are a favourable host for orogenic gold mineralisation.

The company indicated it had been encouraged by the results achieved at the Mojave prospect where a hinge zone of the interpreted antiform is untested along strike.

Encounter considers such positions represent a key target for large zones of gold mineralisation in the Tanami, making it a high-quality target for future drilling.

One section of three RC drill holes was completed at Mojave, intersecting multiple, broad zones of bedrock gold mineralisation, including:

MOJ004
16 metres at 0.27 grams per tonne gold from 36m;
4m at 0.25g/t gold from 56m;
6m at 0.47g/t gold from 66m;
8m at 0.3g/t gold from 76m;
10m at 0.69g/t gold from 228m; and
10m at 0.38g/t gold from 256m.

MOJ002
4m at 0.7g/t gold from 20m;
4m at 0.28g/t gold from 124m;
6m at 0.53g/t gold from 174m;
4m at 0.38g/t gold from 196m; and
10m at 0.34g/t gold from 210m.

Results from an eight-hole broad-spaced RC drill program at Afghan confirmed gold mineralisation over a two-kilometre zone including:

AFG002
10m at 1.6g/t gold from 4m, including 6m at 2.5g/t gold from 6m;

AFG005
2m at 2g/t gold from 40m and 2m at 3.5g/t gold from 136m; and

AFG008
24m at 0.32g/t gold from 102m.

“The first pass RC drilling at the Afghan and Mojave prospects in the Tanami has confirmed historical near surface gold and intersected new zones of gold anomalism within tightly folded dolerite bedrock,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“The level of bedrock gold anomalism at Mojave potentially represents a halo to a higher-grade, orogenic gold deposit and the primary structural target located south-east remains open and untested.”

 

Email: contact@enrl.com.au

Web: www.enrl.com.au

 

Red 5 Continues Growth at King Of The Hill

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THE DRILL SERGEANT: Red 5 Limited declared its decision in the December 2019 Quarter to boost underground drilling capacity at the company’s King of The Hill (KOTH) project in Western Australia with three diamond rigs, has paid off.

Red 5 reported the drilling has produced results that add further confidence to the Final Feasibility Study (FFS) it currently has underway for KOTH.

The latest broad ‘whole-of-hole’ intercepts include:

190.6 metres at 1.3 grams per tonne gold
231m at 1.2g/t gold and
58m at 4.1g/t gold.

Extensional drilling delivered widths of up to:

57.3m at 2.3g/t gold outside of the existing 3.1-million-ounce Resource envelope, together with high-grade intersections, including:

15.9m at 34.5g/t gold and
18.2m at 11.5g/t gold.

“The 85,000-metre underground drilling program is progressing strongly with approximately 60 per cent of the program completed,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The volume and quality of the data being generated are progressively being fed into an updated Resource model, that will underpin an update to the current 3.1-million-ounce Mineral Resource as part of the FFS on an integrated bulk open pit and underground mining operation due to be released in the September 2020 Quarter.

“Importantly, the results continue to contribute towards achieving the three outcomes we are targeting – namely, to convert as much of the existing Underground Resource into Ore Reserves as we can for inclusion in the FFS, to reassess the final shape of the open pit, and to identify extensions to the underground Resource both along strike and down-dip.

“In-fill and grade control drilling is also delivering positive results by reinforcing the continuity and tenor of the stockwork development zones, which have formed part of our transition to bulk underground mining program and will provide us greater confidence for the future.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Peel Mining Drills New Southern Nights Gold Zone

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported the discovery of strong gold mineralisation associated with a new high-grade zone at the southern end of the Southern Nights deposit from the recent resource upgrade drilling program at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales.

Peel mining completed a drilling program in 2019 that was designed to develop a higher confidence Mineral Resource Estimate at Wagga Tank-Southern Nights.

The drilling was targeted towards the Wagga Tank, Southern Nights and the Corridor Zone located between Wagga Tank and Southern Nights.

This returned strong assay results, including some of the highest-grade gold mineralisation the company has intersected at Southern Nights to date:

WTRCDD238
35 metres at 6.3 per cent zinc, 2.59 per cent lead, 105 grams per tonne silver, 0.24 per cent copper, 1.87g/t gold from 232m, including 5.9m at 17.13 per cent zinc, 8.34 per cent lead, 376 g/t silver, 0.26 per cent copper, 7.6 g/t gold from 232.8m; and
7m at 13.3 per cent zinc, 4.4 per cent lead, 97 g/t silver, 0.1 per cent copper 0.89 g/t gold from 251m.

Peel Mining completed a review of these and other infill results, from which it determined that adequate drilling has now been completed to commence Mineral Resource Estimation work with an upgraded resource anticipated for March quarter 2020.

This resource will form the basis for further concept study work to progress the project towards development.

“The high-grade gold associated with the mineralisation in drillhole WTRCDD238 is a very welcome development for the Southern Nights system, all the more exciting as this area remains completely open to the south,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“More importantly, a recent review of resource upgrade drilling indicates good infill and extensional coverage has been established, supporting an update of the Mineral Resource Estimate.

“We look forward to providing an updated resource this quarter.”

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

Magnetic Resources Encounters Encouraging Gold Results at Lady Julie

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THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) has completed an initial RC drilling program at the Lady Julie project, not far from the company’s Hawks Nest 9 project, located near Laverton in Western Australia.

Magnetic Resources said the drilling had produced promising results along two western mineralised lines, which are only one kilometre and 1.5km east of the HN9 3km-long mineralised project.

Results from the recent drilling include:

MLJRC039
2 metres at 5.44 grams per tonne gold from 29m;

MLJRC073
1m at 18.18g/t gold from 15m;

MLJRC076
6m at 1.79g/t gold from 1m; and

MLJRC083
3m at 1.78g/t gold from 5m.

The recent drilling is being followed up over a total of 1.3km strike length with 30 RC holes.

The company considers the area covering Lady Julie and HN9 to be well endowed and, as such, it has become a focus for potential gold mineralisation over 11.4 square kilometres for a mining centre after more drilling is completed.

Magnetic has found the Lady Julie mineralised zones to be similar to HN9 and occur within altered porphyry and altered porphyry and mafic contacts and in some case with sediment zones.

“The western half of the Lady Julie project is typified by shallow dipping and sub horizontal mineralised zones and is proximal to the contact of mafic and intruding porphyry,” Magnetci Resources said in its ASX announcement.

The Lady Julie tenements have demonstrated strong mineralisation, returning 198 gold intercepts greater than 0.5g/t gold.

These include 88 greater than 1g/t, 33 greater than 2g/t, 19 greater than 3 g/t and 12 greater than 4g/t.

“Both detailed ground magnetics and the remaining soil geochemical surveys will be completed over the Lady Julie tenements followed up with further shallow RC 30-hole program totalling 1520 metres testing mainly for extensions to the north and south and at depth below promising intersections,” Magnetic said.

 

Web: www.magres.com.au

Matsa Resources Drills High-Grades Under Devon Mine

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced preliminary results from RC drilling undertaken at the Devon mine site within the company’s Lake Carey gold project in the Eastern Goldfields of Western Australia.

Matsa Resources said the five-hole RC drilling program, which was carried out in December 2019 to test continuity of gold mineralisation below historic underground and more recent open-pit mine workings, had illustrated continuation of high-grade mineralisation.

Highly encouraging gold assay results were returned in four of the five drill holes completed, including:

Main Lode

19DVRC001
3 metres at 35.03 grams per tonne gold;

19DVRC005
3m at 5.93g/t gold and 3m at 1.56g/t gold; and

19DVRC002
3m at 1.38g/t gold.

Hanging Wall Lode

19DVRC003
15m at 20.78g/t gold, including 3m at 94.1g/t gold and 3m at 5.98g/t gold.

“Three of these intercepts are interpreted to lie on a continuation of the Devon Main Lode zone which was previously mined by GME Resources Ltd,” Matsa Resources said in its ASX announcement.

“High-grade gold mineralisation was also intersected in one drill hole, in the hanging wall above the Main Lode zone.

“This mineralisation, referred to as the Hanging Wall Zone was not previously mined and appears to be poorly tested by previous drilling and hence warrants much further work.”

Matsa indicated it has further drilling planned to better define high-grade mineralisation in the Main Lode and the Hanging Wall lode.

A test IP survey is planned to confirm whether high-grade lodes can be detected by this technique.

 

Email: reception@matsa.com.au

Web: www.matsa.com.au

 

Pantoro Continues Scotia Run

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THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released initial drilling results from the Scotia deposit, located at the company’s 50 per cent-owned Norseman project in Western Australia.

Pantoro commenced drilling at Scotia in October 2019 and has completed around 27 holes of the planed RC and Diamond drilling program to date.

The Scotia gold deposit is located approximately 25 kilometres south of Norseman and is part of the Scotia Mining Centre that also includes the Taurus, Lady Eleanor and Free Gift deposits that combine for a Mineral Resource estimated to contain approximately 2.43 million tonnes at 5.3 grams per tonne gold for 413,000 ounces of gold.

Scotia is the fourth major mining centre tested by Pantoro at Norseman.

All areas the company has drilled to date have returned excellent results in line with expectations.

Drilling in and around the existing Scotia Mineral Resource has confirmed continuity of mineralisation with intercepts to date including:

4 metres at 44.46 grams per tonne gold , including 1m at 115g/t gold ;
4m at 5.51g/t gold;
2m at 5.33g/t gold;
1m at 7.95g/t gold;
5m at 6.3g/t gold;
1m at 16.6g/t gold;
3m at 4.38g/t gold; and
4m at 3.87g/t gold.

Pantoro is drilling at Scotia targeting infill and extension of the current 413,000-ounce Mineral Resource to approximately 150 metres below surface.

The company’s objective is to define both open pit and future underground mining potential.

Results to the north of the current pit and underground workings have been encouraging and will be followed up in the remainder of the planned program.

“These excellent results come from the fourth deposit that we have drilled at Norseman,” Pantoro managing director Paul Cmrlec said in the company’s announcement to the Australian Securities Exchange.

“Each deposit drilled to date has provided outcomes in line with or exceeding Pantoro’s expectation, demonstrating the outstanding quality of the project.”

 

Email: admin@pantoro.com.au

Web: www.pantoro.com.au