Cassini Resources Continues Encouraging Run at Mount Squires

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) continued its recent good run of encouraging RC drilling results from the company’s 100 per cent-owned Mount Squires project in the Musgrave Province of Western Australia.

Cassini Resources declared the latest results have again returned economic mineralisation near surface and extending to shallow depths.

The Mount Squires project is an early stage exploration project that Cassini considers highly prospective for gold, located adjacent to the western border of the company’s West Musgrave JV project with OZ Minerals (ASX: OZL).

Results from another three holes of the 10-hole program have been received and include results of:

MSC0004
27 metres at 1 gram per tonne gold from 31m, including 3m at 2.59g/t gold from 38m; and

MSC0005
19m at 0.68g/t gold, including 6m at 1.26g/t gold from 38m.

“Recent drilling results support the current geological interpretation,” Cassini Resources said in its ASX announcement.

“Mineralisation is hosted within a hydrothermal breccia at the stratiform contact of a rhyolite and overlying (predominantly barren) volcaniclastic unit.

“Mineralised lodes, defined by a 0.1g/t gold halo, strike E-W to ESE-WNW and are near vertical to steeply south dipping.

“Mineralisation is potentially controlled by the intersection of NW-SE and SW-NE trending structures.

“Surface rock chip sampling of the hydrothermal breccia and extrapolation of recent and historical drill results indicates a potential mineralised strike of at least 600m which remains open down plunge.”

Cassini indicated it anticipates receiving results for the remaining four holes over the next couple of weeks.

The company said that regardless of the results, it has been encouraged enough already to begin planning follow-up programs at Handpump and the remaining project area.

The evaluation of recent airborne magnetic survey geochemical data will also inform the company’s decision-making process for the next phase of exploration.

 

Email: admin@cassiniresources.com.au

Web: www.cassiniresources.com.au

 

Bellevue Gold Confirms High-Grades at Deacon and Mavis

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THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) announced further drill results from the recent Deacon and Mavis discovery, located 400 metres east of the company’s historic Bellevue gold mine in Western Australia.

Bellevue Gold said its recent drilling has focussed on extending the mineralisation up dip and along strike with step outs to the north and the south followed by down hole electromagnetic (DHEM) surveying.

Each hole drilled into the Deacon target passes through the Bellevue Lode before entering the new discoveries at Deacon and Mavis.

Bellevue has completed broad spaced step-out drilling it claims has confirmed further high-grade gold mineralisation at the Deacon discovery with an intersection of:

DRDD237
3.8 metres at 13.9 grams per tonne gold in a zone of quartz, pyrrhotite and visible gold mineralization.

The company explained this drill hit is a 160m step-out north of a previously announced result of 3.6m at 18.3g/t gold (DRDD139); and a 260m step-out north of another earlier hit of 4.4m at 62.4g/t gold (DRDD218)

Bellevue has results pending on an even larger 350 metre step-out hole (DRDD242) to the north that has intercepted visible gold mineralisation.

The first step-out drill hole testing 120m up dip (DRDD225) intercepted 0.8m at 36.9g/t gold.

Bellevue indicated the Deacon discovery to be now defined over an area of 1,700mby 260m and remains open in every direction.

The Mavis discovery is located only 60 metres to the east and parallel to Deacon Lode with high-grade gold including a previously announced intercept of 2.2m at 38g/t gold.

Bellevue currently has six diamond core rigs spinning, targeting discovery step-out at Deacon and Mavis Lodes as well as infilling Tribune, Viago and Bellevue Surrounds Lodes.

“The footprint of the Deacon and Mavis discovery continues to expand as exploration progresses with further high-grade drill intersections and significant new untested DHEM conductors defined,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“This discovery is yet another ‘game changer’ at the project, given the significant scale and new entirely untested geological sequence to the east which has opened up exploration in the third dimension.

“The Bellevue mineralisation system is resembling the beginnings of other significant large scale and long-life operating mines in the Goldfields region of Western Australia due to its large mineralised footprint and multiple lodes.

“The DHEM testing has truly been revolutionary for exploration at the project, allowing the rapid ranking of and targeting of prospective structures.

“Our exploration strategy utilising broadly spaced step-out holes followed by the use of DHEM to define the mineralisation panels within the shear network works consistently well for us.

“So far at Deacon over 1.7 kilometres of strike has been defined and numerous large scale untested DHEM conductors remain to be drill tested suggesting significant potential to add further high-grade mineralisation to the resource inventory.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Meteoric Resources Prepares for Novo Astro Diamond Drilling Program

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THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) has greeted the arrival of the GEOSOL diamond drill rig and crew to the company’s 100 per cent-owned Novo Astro gold project in Mato Grosso, Brazil.

Drilling is expected to commence early October with four initial targets having been selected based on geological mapping, artisanal workings, soil geochemistry and grab sampling.

Novo Astro is located 30 kilometres from the company’s active drilling campaign at its 100 per cent-owned Juruena project.

Together with Juruena, Novo Astro comprises the most prospective cluster of targets within Meteoric’s extensive Brazilian portfolio.

FOLLOW THIS LINK TO SEE OUR INTERVIEW WITH MANAGING DIRECTOR ANDREW TUNKS

Meteoric Resources explained that previous mining at Juruena and Novo Astro identified and exploited both alluvial and primary mineralisation.

Artisanal mining across both sites commenced at the end of the 1960s and was responsible for the production of approximately one million of gold.

Although the Juruena project was subjected to intense drilling by several previous explorers, Novo Astro has only been explored by surface exploration.

Subsequently, there has never been any drilling of Novo Astro to test the gold grade and depth extent of the surface alteration and mineralisation that has been mapped, and where Meteoric recently collected high-grade rock chips up to 290 grams per tonne gold.

The company’s previous reconnaissance mapping and rock chip sampling at the Novo Astro project defined four targets for follow up drilling: Graça, Matteus, José, and Bodhi.

Meteoric is now set to commence a 21-hole drilling program at Novo Astro.

Over at the Juruena project, diamond drilling has continued to progress with two rigs completing double shifts.

The rigs are completing the final holes at Dona Maria and will soon move to other targets at Querosene and Tomate.

 

Web: www.meteoric.com.au

 

Pioneer Resources Receives First Drill Results From Cade Spodumene Discovery

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

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

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

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

Assays have been received for drill holes PDRC263 to PDRC277, while those for holes PDRC278–PDRC288 are still awaited.

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

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

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

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

PDRC265
25 metres at 1.61 per cent Li2O;

PDRC267
33m at 1.63 per cent Li2O;

PDRC268
18m at 1.47 per cent Li2O;

PDRC270
23m at 1.36 per cent Li2O; and

PDRC277
10m at 1.60 per cent Li2O.

Results from drilling at the Spodumene 1 Target included:

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

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

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

 

 

Web: www.pioresources.com.au

 

Musgrave Minerals Hits Gold Beneath Lena Resource

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further high-grade gold assay results from diamond drilling at the Lena deposit, part of the company’s 100 per cent-owned tenure on the Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals said assays from the first diamond drill holes in the company’s current program at Lena returned high-grade gold over potentially mineable widths and are between 80 metres and 140m vertically below the current JORC resource boundary that support the potential continuity of mineralisation at depth.

The two diamond drill holes completed at Lena (19MODD017 and 19MODD016) both intersected two high-grade gold lodes

Results include:

19MODD017
0.7 metres at 74.7 grams per tonne gold from 314m down hole approximately 140m vertically beneath the existing resource on the western high-grade lode; and

1.8m at 3.8g/t gold from 242m down hole, 80m below the existing resource on the eastern lode.

16MODD016
7m at 2.95g/t gold from 258m down hole, including 2.2m at 6.5g/t gold from 261.8m, including 0.6m at 14.3g/t gold from 261.8m approximately 100m below the existing resource boundary on the lode; and

1.7m at 6.3g/t gold from 289.2m down hole approximately 125m below the existing resource boundary on the western lode.

The mineralisation is open at depth on all lodes.

“These are excellent results and continue to increase our confidence in the high-grade plunge of the mineralisation at Lena where it remains open at depth,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The upside at Lena is significant and we look forward to further strong results as drilling continues.”

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

Rox Resources Hits Best Results to Date at Youanmi

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) declared the best drilling results achieved to date from a drilling campaign underway at the Youanmi gold project in Western Australia.

The Youanmi gold project (OYG JV) is a Joint Venture with Venus Metals Corporation (ASX: VMC).

Rox Resources has completed over 9,000 metres of drilling that it has received results for around 75 per cent.

Results received from Youanmi South drilling include:

RXRC063
12 metres at 12.7 grams per tonne gold from 80m;

RXRC064
12m at 8.5g/t gold from 44m;

RXRC053
4m at 11.2g/t gold from 110m; and

RXRC066
4m at 7.6g/t gold from 76m

Drilling at Plant Zone has defined shallow, potential base load mill feed, with new results showing continuations to shallow mineralisation including:

RXRC038
4m at 5.6g/t gold from 24m;

RXRC047
30m at 1g/t gold from 96m; and (depth continuation)

RXRC046
14m at 1.7g/t gold from 70m. (depth continuation)

Rox said its understanding of controls on mineralisation at Youanmi is rapidly increasing and as a result its targeting methodology has improved markedly as demonstrated by these results.

The company is looking forward to potentially translating this into strong resource growth at the project.

The RC drill program is ongoing and will continue into October, with resource estimation work to follow.

The company is testing both new conceptual targets that it considers to have the potential to open up new areas of mineralisation and drilling out positions of the Youanmi gold deposits or areas where it believes there is potential for repeats.

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

Cassini Resources Encounters Early Excitement at Mt Squires

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) released the first results from RC drilling underway at the company’s 100 per cent-owned Mount Squires project in the Musgrave Province of Western Australia.

Cassini Resources describes the project as being an early stage exploration project thatit considers to be highly prospective for gold and is located adjacent to the western border of the company’s West Musgrave JV Project with OZ Minerals (ASX: OZL).

The drilling was undertaken at the Handpump prospect and comprised 10 holes for 1,134 metres of RC.

The program was designed to confirm mineralisation controls and extensions to previous drill intercepts and represents the first drilling at the Handpump prospect since 2011, prior to Cassini’s ownership.

Cassini said the results have confirmed the potential for economic mineralisation at surface and extending to shallow depths providing an exciting start to its Mount Squires field program.

Results from the first three holes include a healthy result of:

MSC0003
20 metres at 1.27 grams per tonne gold, including 7m at 2.54g/t gold from 23m.

The intersection included a peak result of 1m at 4.98g/t gold from 26m, highlight potential for high grade mineralisation.

This intercept represents a new lode position that had not been intersected by previous drilling.

“We’re really encouraged by these early results which confirm the presence of significant gold mineralisation at the Handpump prospect and reinforce the prospectivity of our Mount Squires gold project,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“This is a new frontier for gold exploration in Australia with unrealised potential.

“Cassini is well positioned to exploit this opportunity through our understanding of the geology of the region and established operational capability.

“We look forward to receiving the results from the rest of the program.”

 

Email: admin@cassiniresources.com.au

Web: www.cassiniresources.com.au

 

Black Cat Syndicate Increases Satellite Resources at Myhree

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has updated the JORC 2012 Mineral Resource Estimate at the Boundary and Trump deposits within the company’s Bulong gold project in Western Australia.

Black Cat Syndicate has increased the Boundary Resource by 87 per cent to 0.63 million tonnes at 2.1 grams per tonne gold for 41,100 ounces, while the Trump Resource has increased 89 per cent to 0.26 million tonnes at 2.3g/t gold for 18,900 ounces.

The increases have had the knock-on effect of taking the total Resource at the Bulong gold project to 2.6 million tonnes at 2.4g/t gold for 206,000 ounces with a potential open pit Resource of 2.2 million tonnes at 2.4g/t gold for 168,000 ounces.

Black Cat Syndicate indicated the feasibility study it currently has underway will continue to assess Myhree as the base load producer and will now incorporate the Boundary and Trump Resources as potential satellite mines.

The company considers Queen Margaret/Melbourne United, Trump North and Strathfield all to demonstrate good potential as satellite mines.

Metallurgical testwork and geotechnical studies at Myhree are in progress, as is exploration drilling covering multiple targets at Greater Woodline; infill drilling at Myhree.

Extensional drilling at Trump North and at the Myhree Southern Offset Target will commence in early October 2019.

“We are pleased to show continuing growth in Resources, particularly in the immediate area of Myhree,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“Myhree is presenting as the base load producer adjacent to a number of potential satellite mines including Boundary, Trump, Trump North, Queen Margaret, Melbourne United, and Strathfield.

“Recent drilling has also shown that grades within both Trump and Boundary are better than historic drilling indicates, causing us to review the potential of a number of historic deposits.

“The current gold price environment, combined with the quality of the Bulong Resources and our location near infrastructure, provide strong impetus to move to production.

“In the meantime, we are about to embark on a very exciting phase of drilling aimed at extending the mineralisation at Myhree and Trump and exploring priority targets in the high-grade Greater Woodline area.

“Resources at Bulong will next be estimated and upgraded in the March 2020 quarter based on drilling to 31 December 2019.”

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

Image Resources Confirms Continuation of High-Grade Boonanarring Core

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THE DRILL SERGEANT: Image Resources (ASX: IMA) declared that close-spaced infill drilling has provided further confirmation of the continuation of the very high-grade core within the eastern strand in Block A of the company’s 100 per cent-owned, high-grade, zircon-rich Boonanarring mineral sands project located north of Perth in the North Perth Basin in Western Australia.

The announcement follows previous releases, including the first in July 2019, of a high-grade core in the eastern strand at Boonanarring from assay results from early stage drilling in Block C (the project’s current mining block) and a second announcement in September of secondary confirmation from assay results from drilling in Block B.

The latest assay results come from the next stage of drilling that was undertaken at Block A, which the company claims to have confirmed the continuation of the high-grade core over the full length (1.4km) of Block A.

The total length of the high-grade core has now been shown to stretch over 5.4 kilometres within Blocks A, B and C, with Block C currently being mined.

Image Resources said these results are part of a larger drilling program designed to re-assess the Mineral Resources and Ore Reserves at Boonanarring.

The full drilling program includes close-spaced, infill drilling to delineate the full extent of the high-grade core in the eastern strand across Blocks A, B, C and D.

Things have been busy at Boonanarring since Image got serious with the project by kicking off the open-cut mine and associated processing facility in April 2018.

The company completed construction and project commissioning ‘on-budget’ and ‘on-schedule’ with production commencing in December 2018.

After just two months of operation production of heavy metal concentrate (HMC) was ramped-up to exceed the long-term steady-state forecast production level of 20,000 tonnes HMC per month.

In March, Image determined the Ore Reserve ore grade had been understated, based on actual mined and processed ore grades and resultant HMC production levels leading the company to realise that the eastern strand of the Boonanarring deposit contains a very high-grade core that was not adequately delineated by the standard drill spacing of 20 metres.

A subsequent close-spaced drilling program (5 metre) commenced in April and continued through July, the results from which will be used to reassess the Mineral Resources and Ore Reserves estimates.

At the end of June 2019, the actual ore grade for the half year was 43 per cent higher than forecast based on the Ore Reserve.

Updated Mineral Resources and Ore Reserves estimates and an update of overall project economics are anticipated to be announced in the October quarter 2019.

Image’s first shipment of HMC product, culminating in its receipt of first revenue, came in January 2019.

Since then, more bulk shipments of HMC of nominally 20,000 tonnes have departed the Bunbury Port at the rate of roughly one per month.

The Boonanarring deposit is rich in zircon,which is one of the most valuable of the four heavy minerals contained in the HMC product.

The company is further encouraged by global zircon production being forecast to be lower than market demand for the next three years, making zircon prices relatively buoyant.

Image sees the combination of these factors to represent more than 80 per cent of its near-term total revenue.

The company is well-placed to take advantage of the upswing with market-based offtake agreements for 100 per cent of production for the life of the mine, with key zircon processing and manufacturing companies in China, which consumes more than half the world’s production of zircon.

Image has now completed two full quarters of active mining and production and at the end of June 2019 is profitable and cashflow positive.

For the first half of 2019 the company reported HMC production at 138 per cent of budget, operating costs of only 76 per cent of budget, EBITDA of 127 per cent of budget and provisional net profit after tax of 157 per cent of budget.

In July the company published updated market guidance and increased its forecast EBITDA from $40 to $50 million to $55 to $65 million for CY2019.

Image is actively drilling to delineate additional Mineral Resources for conversion to Ore Reserves at
Boonanarring with the goal of adding mine life.

Image Resources was eager to point out that Boonanarring is only one of a number of 100 per cent-owned mineral sand deposits in the company’s portfolio in the region, and that it is currently actively exploring and will be looking to develop one or more additional operating centres in the coming years.

 

Email: info@imageres.com.au

Web: www.imageres.com.au

 

Black Cat Syndicate Hits Potential New Myhree Lode

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) claimed to intersect a potential new lode while drilling at the company’s Bulong gold project In Western Australia.

Black Cat Syndicate informed the market that recent extensional drilling at Myhree intersected a new, unmodelled zone of mineralisation under the southern part and to the east of the current Resource.

The hole ended in mineralisation returning an intercept of:

19MYRC093
10 metres at 2.77 grams per tonne gold from 190m, the hole ended in mineralisation.

The company anticipates follow up drilling of this new zone, which remains open in all directions, will occur in early October 2019.

The company’s latest round of infill drilling also intercepted strong results at the southern edge of Myhree, confirming shallow mineralisation with results including:

19MYRC088
22m at 3.21g/t gold from 1m, including 9m at 4.26g/t gold from 11m;

19MYRC090
4m at 2.55g/t gold from 12m, and 5m at 1.48 g/t gold from 46m; and

19MYRC091
2m at 3.77g/t gold from 56m, and 2m at 4.42g/t gold from 62m.

Other Resource infill drilling at Myhree returned:

19MYRC083
2m at 5.59g/t gold from 32m; and

19MYRC084
4m at 2.48g/t gold from 61m.

Black Cat also carried out drilling at the Trump prospect that intersected high-grade mineralisation, further underlining the importance of this deposit which runs parallel to Myhree.

Results include:

19TRRC028
3m at 8.32g/t gold from 66m.

Black Cat has Trump and Boundary Resource upgrades currently underway with results expected to be reported late September 2019.

Exploration RC drilling in the Greater Woodline area will commence in early October 2019.

“The discovery of a potential new lode at Myhree is an exciting emerging development for Black Cat,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The potential new lode sits below our current Resource and 100 metres below known mineralisation.

“At depth, the nearest mineralisation is 100 metres to the north with no drilling in between.

“This result fits well with current interpretations of the geology and of a fault offsetting the mineralisation.

“There is now a possibility of Myhree continuing to the south and drilling in this southern area will be fast-tracked.

“In addition, the current phase of infill drilling at Myhree is effectively complete and is consistent with expectations.

“Results at Trump are also pleasing in terms of the potential impact on Resource upgrades.

“Trump remains under drilled with numerous open targets to test in the near future.”

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au