Mincor Resources Hits New High-Grade Nickel Sulphide Intercept at Cassini

/in , /by

THE DRILL SERGEANT: Mincor Resources (ASX: MCR) announced the latest result from ongoing diamond drilling at the company’s Cassini nickel sulphide deposit at Kambalda.

Mincor Resources reported the drilling returned another exceptional high-grade nickel intercept of:

MDD339
17.6 metres at 5 per cent nickel, including 13m at 6.1 per cent nickel.

The company explained it has interpreted the intersection to be within the CS4 channel and was encountered 115m down-plunge from the last reported CS4 intersection.

The intersect represents the first result from a discrete program the company has underway that is aimed at demonstrating the continuity of nickel sulphide mineralisation at Cassini.

Of note is that the intersection is down-plunge of the boundary of the reported Mineral Resource of 1.254 million tonnes at 4 per cent nickel for 50,400 nickel tonnes.

“What a great way to start the New Year with significant new drilling success at Cassini,” Mincor Resources managing director David Southam said in the company’s announcement to the Australian Securities Exchange.

“The CS4 surface has recently taken somewhat of a back-seat from the remarkable success we achieved with our drilling program in the December 2019 quarter surrounding the CS5 surface intersections.

“Today’s result shows that the CS4 surface could also extend significantly, with this intersection being 115 metres down-plunge from the last reported intersection.

“It is also our second highest value hole per metre (measured as intercept width multiplied by nickel grade) at Cassini.

“We have committed part of the proceeds from our recent $35 million capital raising to continue to invest in resource extension, resource development and exploration while we complete the Definitive Feasibility Study for our integrated Nickel Restart Strategy.

“The outstanding new drilling results reported today represent a clear vindication of this approach, demonstrating that our extensional drilling strategy at Cassini has the potential to deliver substantial success beyond our existing Mineral Resource which, at just over 50,000 high-grade nickel tonnes, is already one of the most significant new nickel sulphide discoveries in the Kambalda district in recent decades.

“The next sequence of step-out holes will be targeted in the CS5 and CS2 channels of Cassini through January and into early February 2020 while we finalise our nickel restart studies.”

 

Email: mincor@mincor.com.au

Web: www.mincor.com.au

 

Red 5 to Conduct Resource Drilling at Darlot Gold Mine

/in , /by

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is soon to commence a new program of exploration and resource drilling to test a series of priority gold targets located within an economic trucking radius of the company’s Darlot gold mine in Western Australia.

Red 5 indicated the program will test gold targets located at the Cables and Mission and Great Western gold deposits which are both subject to recent Option Agreements, as well as the Taranaki Trend, the Ockerburry Project and the Darlot Project tenements.

“The new regional surface drilling program at Darlot is an important addition to our already expanded drilling program for FY2020 – which includes a previously announced budget of 120,000 metres of planned drilling across the King of the Hills and Darlot assets,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The addition of over 11,000 metres of surface exploration and resource drilling reinforces our commitment to delivering growth through exploration.

“Following the recent Option Agreements for two ‘bolt-on’ resources at Great Western and Cables and Mission as part of the Darlot Mining Hub Strategy, we now have an expanded pipeline of exciting targets to test within an economic trucking radius of the Darlot Mill.

“These programs have the potential to quickly grow our resource base, make new discoveries and provide us with further targets for future follow-up.

“This multi-pronged strategy is consistent with our objective to meaningfully increase the mine life of the Darlot Operation – as part of our overall target of having two long-life, high-quality gold production centres operating in parallel as the cornerstone assets of a multi-asset, mid-tier gold producer.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Corazon Mining Intersects Strong Nickel-Copper Sulphide Mineralisation at Lynn Lake

/in , /by

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) received preliminary results from the first three holes completed in the current phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide Mining Centre in Canada.

Corazon Mining said the preliminary results were highly positive with all three holes intersecting strong sulphide mineralisation, including a broad zone of more than 35 metres of strong sulphide mineralisation (between 7 metres to 42 metres downhole) in hole 7.

The three completed holes (holes 5, 6, 7) have been drilled for a total of approximately 356 metres, targeting areas around the A Orebody that had previously been covered by infrastructure from the A-Shaft and processing plant area within the historical Lynn Lake Mining Centre.

Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the project’s already large resource base.

Approximately 1,200 metres of diamond core drilling are planned for the current program, which is expected to be completed in the current month.

Hole #5 intersected at least five metres of good sulphide mineralisation, before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope.

Hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.

Hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole.

“Corazon’s recent mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below surface,” Corazon Mining said in its ASX announcement.

“This work has highlighted the potential to define additional resources closer to surface adjacent to Lynn Lake’s historically mined areas.

“These areas are the initial focus for the current drilling program.”

In addition to testing the historical mining areas, Corazon has also defined several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits within the Lynn Lake Mining Centre, which the company considers to represent further resource upside potential.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Gateway Mining Hits Strong Zones of Shallow Oxide Gold at Achilles Prospect

/in , /by

THE DRILL SERGEANT: Gateway Mining (ASX: GML) claimed to have defined a sieable zone of shallow oxide gold mineralisation over a strike length of at least 400 metres at the Achilles prospect, part of the company’s 100 per cent-owned Gidgee gold project in Western Australia.

Gateway Mining made the claim on the back of Reverse Circulation (RC) drilling results from the Achilles prospect, which it said had marked a strong start to its recently completed 11,000m RC drilling program.

Results include:

GRC446
21 metres at 2.1 grams per tonne gold from 32m, including 7m at 5.2g/t gold;

GRC447
13m at 3.4g/t gold from 5m, including 3m at 12.5g/t gold;

GRC430
11m at 3g/t gold from 32m;

GRC432
7m at 2.2g/t gold from 60m;

GRC435
6m at 3.8g/t gold from 17m;

GRC437
10m at 3.8g/t gold from 31m;

GRC443
6m at 2.1g/t gold from 22m; and

GRC426
19m at 1.3g/t gold from 29m.

The company said a substantial number of assay results remain outstanding from the program, and are expected to be progressively received and reported over the coming weeks.

“This program of RC drilling is a great starting point for our evaluation of the Achilles prospect,” Gateway Mining managing director Peter Langworthy said in the company’s announcement to the Australian Securities Exchange.

“We have already defined a significant zone of near-surface mineralisation over a strike length of at least 400 metres, including a large component of oxide and transitional mineralisation, and we have significantly improved our understanding of the key controls on the mineralisation which can be applied in a wider context.

“Ultimately though we see the Achilles area as part of a major gold system that requires ongoing systematic programs of exploration.

“Our growing understanding of the controls on the gold mineralisation, combined with the quality of our datasets we now have available to us, means that we are now moving a lot closer towards unlocking the broader potential of this hugely prospective but remarkably under-explored project.

“All of the evidence we are accumulating is pointing towards the potential for a very large gold system on these tenements, and we feel that we are now getting a lot closer to pin-pointing its overall dimensions and identifying the areas of significant economic interest.”

 

Web: www.gatewaymining.com.au

 

Barra Resources Enhances Burbanks Mining Opportunity

/in , /by

THE DRILL SERGEANT: Barra Resources (ASX: BAR) recently completed the latest phase of a Reverse Circulation (RC) drilling program at the company’s Burbanks project, south of Coolgardie in Western Australia.

Barra Resources conducted the recent 24 RC drill hole program at Main Lode to follow up drilling completed in 2017 and 2018 and an inaugural Mineral Resource Estimate for Main Lode of 29,900 ounces at 2.59 grams per tonne gold.

The company explained the program had two main objectives: Firstly, to extend the existing Mineral Resource between the historic Main Lode and Birthday Gift gold mines from its current depth of 100 metres below surface to 200m below surface; and

Secondly, to extend the strike of the Main Lode system by targeting the gap between Main Lode and the Burbanks North deposit and, if successful and continuity can be demonstrated, a continuous 3.5 kilometres of mineralised strike length along the Burbanks Shear Zone.

Best results included:

BBRC299
3m at 24.69 grams per tonne gold from 167m down-hole;

BBRC303
8m at 4.1g/t gold from 159m down-hole;

BBRC300
2m at 16.3g/t gold from 173m down-hole;

BBRC292
3m at 5.38g/t gold from 185m down-hole; and

BBRC294
4m at 2.58g/t gold from 168m down-hole.

“The proximity of these high-grade results to mineralisation identified for mining in our recent scoping study raises their significance and enhances the mining opportunity available at Burbanks,” Barra Resources managing director and CEO Sean Gregory said in the company’s announcement to the Australian Securities Exchange.

“The additional discovery of a new mineralised position below a hitherto unrecognised fault, represents a new exploration focus and obvious drill target going forward.”

 

Email: info@barraresources.com.au

Web: www.barraresources.com.au

 

Venture Minerals Scores Tasmanian Government Co-Funding to Drill Mt Lindsay EM Targets

/in , /by

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has secured co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020.

Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving for co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project.

The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets.

The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey.

Venture claims Mount Lindsay as one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.

Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500t in 2018).

Venture explained the Renison-style target is a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine.

“The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project.

“Tin and tungsten are globally classified as critical minerals.

“Recently the Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech.

“Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.”

 

Email: info@ventureminerals.com.au

Web: www.ventureminerals.com.au

 

Saturn Metals Extends Apollo Hill Mineralisation

/in , /by

THE DRILL SERGEANT: Saturn Metals (ASX: STN) released results from a reverse circulation (RC) drilling program recently completed at the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian goldfields.

Saturn Metals completed the Apollo Hill program as part of its efforts to rapidly expand the newly discovered high-grade hanging wall zones and to grow the project’s recently upgraded 781,000 ounce Mineral Resource.

The company claimed the drilling successfully extended mineralisation in multiple directions.

Results include:

AHRC0297
5 metres at 4.7 grams per tonne gold from 126m;

AHRC0281
6m at 4.08g/t gold from 108m within 55m at 0.62g/t gold from 92m;

AHRC0291
14m at 1.4g/t gold from 133m;

AHRC0296
14m at 1.21g/t gold from 12m within 28m at 0.9g/t gold;

AHRC0292
8m at 1.7g/t gold from 33m within 21m at 0.72g/t gold from 33m;

AHRC0287
6m at 2.2g/t gold from 129m within 19m at 0.91g/t gold from 116m;

“Results continue to show the potential for significant resource growth immediately adjacent to Apollo Hill in the higher-grade hanging-wall zones, while a widening mineralised corridor may provide multiple opportunities for additional discovery,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improving mineralisation in other areas such as the Ra area is a bonus.

“Importantly, we look forward to results from our recently completed deeper step out holes which have been drilled to test for mineralisation down dip of both the northern and southern higher-grade hanging-wall zones.

“A second 10,000 metre extensional RC phase is planned to commence in early January 2020.”

 

Email: info@saturnmetals.com.au

Web: www.saturnmetals.com.au

 

Neometals Drills Mt Edwards Nickel Results

/in , /by

THE DRILL SERGEANT: Neometals (ASX: NMT) has been encouraged by assay results from reverse circulation (RC) drilling at the Mt Edwards nickel project near Kalgoorlie in Western Australia.

Neometals completed drilling, sampling and down-hole electromagnetic (DHEM) surveys conducted across the Widgie 3 and Gillett deposits and the Widgie 3 North, Rhona and Widgie 3 South prospects.

These deposits and prospects, including Widgie Townsite, are collectively known as the Widgie South Trend and are located on Mining Lease M15/94 south of the community of Widgiemooltha.

In addition, further drilling was carried out at the Lake Eaton prospect on Exploration Licence E15/989.

Drill assay results include:

16 metres at 1.45 per cent nickel, including 2m at 4.79 per cent and 5m at 1.81 per cent nickel;
21m at 1.05 per cent nickel, including 4m at 2.42 per cent nickel; and
7m at 1.37 per cent nickel, including 3m at 2.39 per cent nickel.

“Neometals is progressively increasing the quantity and quality of its Mt Edwards Nickel Mineral Resources and improving the geological understanding with modern geophysics,” Neometals said in its ASX announcement.

“The company is very pleased with the outcomes of this exploration program, which represents the first drilling for nickel at the Widgie South Trend since April 2008.

“The four kilometres long Widgie South Trend zone, with its three Mineral Resources, contains an estimated 67,000 tonnes of nickel, in a pro-mining jurisdiction located near major road, rail and energy infrastructure in a world class nickel camp.”

In addition to the positive assay results, Neometals indicated it has conducted also DHEM surveys on all 13 drill holes completed at the Widgie South Trend which show several conductors considered to be strong targets for nickel sulphide mineralisation.

Further DHEM surveys are currently being conducted on historic drill holes across the Widgie South Trend to generate further drill targets.

 

Email: info@neometals.com.au

Web: www.neometals.com.au

 

Southern Gold Confirms Major Epithermal System at Beopseongpo

/in , /by

THE DRILL SERGEANT: Southern Gold (ASX: SAU) received results from the first pass scout drilling program undertaken at the Lotus North and Hand of Faith prospects at the company’s Beopseongpo project in South Korea.

Southern Gold said the drilling had confirmed major epithermal system at Beopseongpo with best results achieved at the Hand of Faith prospect, including:

BPDD005
1 metre at 1.48 grams per tonne gold from 9.4m in hole (True width);

BPDD006
0.96m at 5.7g/t gold from 36.45m in hole (Est. 0.67m True width); and

BPDD007
1.05m at 1.17g/t gold from 46.68m in hole (True width).

The company said it was encouraged by these results as they come from a very small strike section of veining (<100m strike extent of one vein system) drilled to date, which equates to less than five percent of the total outcrop, subcrop and float train-inferred strike of vein systems mapped at Beopseongpo project area.

Southern Gold noted that the quartz vein textures intersected were typical of the upper-most levels of Low Sulfidation vein systems, less than 50 metres below the palaeowater table, which it has interpreted to mean the main potential for high-grade precious metal mineralisation is preserved and interpreted to be between one hundred and five hundred metres below the paleo-water table, which has yet to be drilled.

Now that the veins have been intersected, Southern Gold suggests they can easily be targeted down dip in the next program at Hand of Faith.

“We are pleased to have successfully executed the maiden drill program at Beopseongpo and confirm the large vein widths at Hand of Faith,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“The results and vein textures are typical of high level low-sulfidation systems and we intend to target these at depth where high-grade mineralisation is much more likely in a second phase program next year.

“Beopseongpo has all the right technical characteristics of a large-scale epithermal system and will require several drill programs to fully test the multiple targets in the extensively veined area.”

 

Email: info@southerngold.com.au

Web: www.southerngold.com.au

 

Cassini Resources to Commence Drilling at Yarawindah Brook

/in , /by

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) is set to commence a program of diamond drilling at the company’s 80 per cent-owned Yarawindah Brook project located near New Norcia in Western Australia.

Cassini Resources declared the project as being prospective for nickel, copper, cobalt and PGE’s, adding that the drilling program will target two separate prospect areas, the XC05 conductor and the AN01-AN02 conductors.

Approximately 1,000 metres of diamond drilling is expected to conclude in January after a short break for Christmas.

The company completed an airborne electromagnetic survey (AEM) over the project in early 2018 that identified numerous conductors it considered worthy of further investigation.

A surface fixed loop electromagnetic (FLEM) survey was also completed over several of the higher priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling.

The FLEM reinforced the XC05 and XC06 anomalies as priority targets, however, only the XC05 conductor will be tested in this program due to access difficulties at XC06.

XC05 has been modelled as three discontinuous conductors over a strike length of 300m, with a maximum conductance of 2400S. This will be the first-ever drill testing in this area of the project, which is a distinctly different part of the belt which hosts the AN01 and AN02 conductors.

The AN01 and AN02 conductors sit at the southern end of a large ultramafic belt that hosts a small lateritic platinum and palladium resource.

Cassini considers the platinum and palladium enrichment in the regolith as ‘path-finders’ for potential massive nickel – copper – cobalt sulphides, which have been proven to exist by historic exploration drilling carried out in 2007 that returned several intercepts of sulphide mineralisation.

No follow-up drilling was conducted and now Cassini has re-modelled surface and downhole electromagnetic (DHEM) data and identified multiple offhole conductors which it hopes may represent extensions to recognised mineralisation.

“This is an exciting time for our company and we are not slowing down for the holiday period,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“This is our maiden drill program at Yarawindah Brook, supported by some excellent work done by our exploration team.

“There is a high level of anticipation amongst our team and we hope this program delivers a great start to the New Year.”

 

Email: admin@cassiniresources.com.au

 

Web: www.cassiniresources.com.au