Kairos Minerals Claims New Conglomerate-Style Gold Discovery

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THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) kicked off its 2019 exploration field season at the company’s 100 per cent-owned Pilbara gold project in Western Australia by claiming the discovery of an extensive area of conglomerate-hosted gold nuggets and visible gold.

Kairos Minerals made the discovery during ground-based exploration activities at the Croydon project, located within the central part of the Pilbara project, situated around 100 kilometres to the west of the Mt York gold project.

Kairos said the new discovery was a major advance in its conglomerate exploration program and was the first time the company has encountered intact gold nuggets hosted directly in a conglomerate unit and is considered to be directly analogous to the Purdy’s Reward discovery near Karratha, which first sparked interest in conglomerate-hosted gold in the Pilbara.

To date, Kairos has recovered a total of 223 nuggets for 656 grams/21.1 ounces at the base of the conglomerate outcrop near the contact with the granitic rocks of the Archean basement.

The company said its metal detector is also indicating that there is gold in five different locations in-situ.

A more detailed mapping program is now underway to define the mineralised horizon within the conglomerate unit.

“Our 2019 exploration field season in the Pilbara is off to a great start with our field team achieving a significant early breakthrough with the discovery of a large area of visible gold and nuggets hosted in conglomerate sequence,” Kairos Minerals executive chairman Terry Topping said in the company’s announcement to the Australian Securities Exchange.

“This is the first time that we have found intact gold nuggets hosted directly in rock on our tenements – a really exciting development.

“The gold-bearing conglomerate horizon is located in a valley which lies just two kilometres from the six nugget patches discovered last field season and extends over a strike length of approximately 700 metres and width 200 metres.

“The conglomerate horizon occurs at surface and is therefore easily accessible from the perspective of metal detecting and potential future sampling and trial mining.

“Importantly, the gold-bearing conglomerate appears to be directly analogous to the extensive gold-bearing horizon reported previously by Novo Resources Corp at its Purdy’s Reward project near Karratha – demonstrating just how widespread this style of gold mineralisation is in the Pilbara.

“Together with the results of previous stream sediment sampling and the extensive program of soil sampling currently underway, this has added significantly to our understanding of the scale of the exploration opportunity at the Croydon project.

“We have so far identified multiple high-priority gold targets over 22 kilometres of strike, established access tracks to facilitate 4WD-assisted exploration and now discovered our seventh significant nugget patch – this time with gold hosted directly in the conglomerate sequence.

“Field exploration activities are continuing with sampling, mapping and metal detecting, and we are looking forward to reporting further results as they come to hand.”

 

Website: www.kairosminerals.com.au

 

Dark Horse Resources Demonstrates Continuation of Cachi Gold Mineralisation

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THE DRILL SERGEANT: Dark Horse Resources (ASX: DHR) has identified a further anomalous gold prospect at the company’s Cachi gold project in Argentina.

Dark Horse Resources identified the new prospect, named El Camino, from assays results from recent rock chip sampling, bringing the total number of prospects to fifteen in the southern half of the Cachi tenement.

The company explained the El Camino prospect is another high potential mineralised structure close to the south-eastern border of the caldera.

Fourteen rock chip samples were collected from over 900m of vein subcrop that returned anomalous gold and arsenic values averaging 0.4 grams per tonne gold and 540g/t arsenic, with maximum values of 1.1g/t gold, and 982g/t arsenic.

“This association of gold with high arsenic values appears to place EL Camino, along with Aurora, Vetas Cachi and Valiente, near the top of the mineralised epithermal system opening potential for high-grade gold discoveries with drilling,” Dark Horse Resources said in its ASX announcement.

 

Website: www.darkhorseresources.com.au

 

Carawine Resources Identifies New Paterson Project Targets

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THE DRILL SERGEANT: Carawine Resources (ASX:CWX) released preliminary results from a VTEM™ Max heli-EM survey completed during June 2019 at the company’s Paterson Project, located in the Paterson Province of Western Australia.

Carawine Resources said the results of the geophysical survey over the Red Dog tenement had identified several new high priority anomalies, adding to the company’s current list of targets within the tenement and setting the it up for an exploration program at the Paterson project this year.

“Helicopter-borne EM systems like VTEM have been successfully deployed to detect anomalies associated with a number of recent discoveries in the Paterson Province, including Rio Tinto’s Winu discovery, as well as defining discrete resistive alteration zones within otherwise conductive sequences such as those associated with Metals X’s Nifty copper deposit,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“Preliminary data from our Red Dog survey has resulted in much better definition of targets at known prospects Leatherneck, Earl and Bravo, as well as identifying several new, discrete conductive anomalies.

“Once we have received the final processed data, we will model the sources of these anomalies so they can be prioritised for further groundwork and drill testing.”

Analysis of the preliminary, pre-processed VTEM™ Max data identified twelve conductive and four resistive anomalies in new areas and at previously identified prospects.

All anomalies are in areas with recent transported cover, essentially rendering them ‘blind’ to surface geochemical exploration techniques.

The depth to the basement host rocks under this cover is relatively shallow, ranging from 30m in the west to about 120m in the east of the tenement, meaning any drill testing of the anomalies can be done using relatively inexpensive drilling techniques.

Carawine Resources declared its next step to advance these targets is to confirm and model the anomalies once the finalised dataset has been received, which is expected during August.

This will allow prioritisation of the targets for follow-up ground EM surveys and/or drill testing.

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Spectrum Metals Hits High-Grade Penny North Extensions

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THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) announced the latest results from the high-grade Penny North lode at the company’s 100 per cent-owned Penny West project near Youanmi in Western Australia.

Spectrum Metals said the results, which stem from four new holes, demonstrate the continuity of high-tenor mineralisation within the high-grade Penny North shoot.

The results from the latest four holes included:

SPWRC067
3 metres at 34.4 grams per tonne gold from 264m, including 1m at 99.9g/t gold from 265m;

SPWRC068
9m at 24.1g/t gold from 265m, including 3m at 69.3g/t gold from 267m;

SPWRC069
9m at 15.9g/t gold from 294m, including 6m at 22.5g/t from 295m; and

SPWRC070
2m at 16.6g/t gold from 274m.

Spectrum also reported additional results to complete six holes whose main lode intersections had been previously reported.

Results from the further two holes included:

SPWRC051
4m at 16.8g/t gold from 116m, including 2m at 31.1g/t gold from 116m; and

SPWRC048
4m at 6.1g/t gold from 68m.

Spectrum explained that it had previously considered hole SPWRC070 to lie outside the interpreted high-grade shoot boundary, but its position now lies within the 20to 40gm contour.

It also stated that the intersection encountered by hole SPWRC051 of 2m at 31.1g/t from 116m sits in a hanging wall lode position, 20m up-hole from the structure that hosts the main high-grade mineralisation at Penny North.

The company has drilling continuing at Penny North with further rigs planned to commence mid to late August to expand the project on multiple fronts.

“We are impressed by the width and grade of the latest drill results from Penny North, particularly as these results lie at the edge of the high-grade envelope,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.

“We have been able to increase the known strike length at the base of the zone to at least 200 metres and have very high-grade mineralisation in the deepest hole yet drilled at Penny West in hole SPWRC069.”

 

Email: info@spectrummetals.com.au

Website: www.spectrummetals.com.au

 

Todd River Resources Identifies New Mt Hardy Mineralised Areas

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THE DRILL SERGEANT: Todd River Resources (ASX: TRT) has identified seven new areas of surface mineralisation from a systematic mapping and sampling program carried out at the company’s 100 per cent-owned Mt Hardy copper-zinc project in the Northern Territory.

Todd River Resources identified the new areas of surface mineralisation across the project tenure around known prospects by combining the mapping and sampling with reconnaissance mapping and prospecting over areas of outcrop and disturbance it had previously identified from high resolution satellite imagery.

The company said the sampled material is similar to that at the surface of Mt Hardy’s Hendrix prospect, where a small area of gossanous outcrop is the only surface manifestation of the underlying mineralisation that comprises the Hendrix Mineral Resource estimate of 2.6 million tonnes at 10.5 per cent zinc-equivalent.

Assay results Todd River received from the first batch of rock chip samples returned grades of up to 41.4 per cent combined base metals with the highest individual grades being 28.8 per cent copper, 29.9 per cent lead and 12.7 per cent zinc, all of which are associated with brecciated sulphide material in gossan form.

Source: Company announcement

“Following the maiden Resource estimate for Hendrix, identifying and testing new areas of mineralisation and ultimately adding to the mineral inventory is clearly the priority for us,” Todd River Resources managing director Will Dix said in the company’s announcement to the Australian Securities Exchange.

“These seven new areas of surface gossans and mineralisation, none of which have ever been drill tested, are highly promising.

“It would be highly unusual for the style of mineralisation at Hendrix to occur in isolation and the discovery of new zones of surface mineralisation further reinforces that model.

“We plan to get out on the ground and commence the next phase of exploration on these targets with detailed geophysics to commence early in August and ultimately drilling to follow up refined targets.”

Todd River outlined its August exploration program will focus on a number of priority target areas including adding to the mineral inventory around Hendrix by shallow drill testing the new extensional targets to the south and the north west.

The company also intends testing new electromagnetic conductors north and south of the main Hendrix mineralisation and is keen to follow up the high priority regional targets with a combination of further mapping to determine the extents of the targets, focused geophysics to better define drill targets and ultimately drilling to test the depth extent and continuity of the mineralisation observed at surface.

 

Email: corporate@trrltd.com.au

Website: www.trrltd.com.au

 

Dark Horse Resources Confirms High Grades at Las Opeñas Gold Project

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THE DRILL SERGEANT: Dark Horse Resources (ASX: DHR) has completed detailed mapping and a diamond‐sawn rock channel sampling program at the company’s Las Opeñas gold project in Argentina.

Dark Horse Resources declared the recent work had confirmed widespread high-grade zones of gold and silver.

The channel sampling consisted thirty‐four channel samples cut over a two-kilometre strike length of the Presagio mineralized zone, and nine samples cut over the Vultur mineralized zone.

Of these, seventeen produced gold assays in excess of one gram per tonne and another five of gold grades in excess of 5g/t.

The highest gold grade was 54g/t and the highest silver grade was 739g/t.

Best sample results returned with the highest gold grades included:

0.4m at 54.2g/t gold, 83g/t silver
0.8m at 17.9g/t gold, 225g/t silver
0.7m at 10.4g/t gold, 263g/t silver
1.0m at 7.2g/t gold, 271g/t silver
0.8m at 7.7g/t gold, 336g/t silver
0.8m at 4.1g/t gold, 384g/t silver
1m at 2.5g/t gold, 597g/t silver

Before undertaking the detailed mapping and surface exploration, Dark Horse had carried out a first phase drilling program in March-April this year that identified five mineralised vein systems at Las Opeñas, with the Presagio vein target showing the most promising results.

Detailed mapping of the Presagio vein system identified the existence of an altered corridor of more than 2.5km in length, including a 1km long vein‐breccia system containing high gold‐silver grades with massive sulfides, located to the west of a drillhole area investigated during the March‐April 2019 drilling program.

Dark Horse considers the exploration results indicate gold and silver mineralisation is most prevalent where northeast and northwest faults intersect, which it acknowledged to be is common at Las Opeñas.

“The gold‐silver mineralisation is distributed throughout the system in parallel, on‐echelon structures,” Dark Horse Resources said in its ASX announcement.

“A hypothetical geological model of Presagio has been interpreted by the company’s geoscientist team and shows the target mineralisation at depth.

“Positive results of this discovery will be used to target further drilling, which is planned to commence in the last quarter of 2019 following the Argentinean winter.”

 

Website: www.darkhorseresources.com.au

 

Mako Gold Doubles Napié Project Strike Length

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THE DRILL SERGEANT: Mako Gold (ASX: MKG) reported assay results from the first sixteen holes of a recent twenty-seven hole reverse circulation (RC) drill program at the company’s Napié project in Côte d’Ivoire.

Mako Gold is earning up to a 75 per cent interest in the Napié project under a farm-in and Joint Venture agreement with Occidental Gold SARL, a subsidiary of West African-focused gold miner Perseus Mining (ASX: PRU).

Mako currently holds 51 per cent interest in the permit and is operator of the project.

The recent drilling consisted twenty-four RC drill holes drilled on the Tchaga prospect and three RC holes to test mineralisation between the Tchaga and Gogbala prospects.

The drilling was designed to extend mineralisation previously outlined over a 500 metre strike length on the Tchaga prospect.

Mako said the assays it has received to date from drilling on Tchaga have doubled the strike extent of gold mineralisation to one kilometre.

Broad and high-grade zones of gold mineralisation were intersected in shallow drilling, returning results including:

NARC080
18 metres at 3.25 grams per tonne gold from 39m;

NARC084
23m at 2.46g/t gold from 15m;

NARC082
15m at 1.13g/t gold from 104m;

NARC079
2m at 6.37g/t gold from 4m;

NARC072
27m at 1.29g/t gold from 15m;

NARC073
4m at 3.19g/t gold from 72m.

NARC075
10m at 0.95g/t gold from 66m; and

NARC087
1m at 16.12g/t gold from 7m.

Mako is currently awaiting assays from drilling of the three further RC drill holes testing the interpreted shear in an undrilled area between the gold mineralised Tchaga and Gogbala prospects.

The company believes the gold mineralisation intersected at the Tchaga prospect and the Gogbala prospect could be part of the same system and both lie along the recently interpreted 17km-long shear zone.

“We are encouraged by the results received to date from our recent drilling program on Tchaga, which has doubled the strike length of gold mineralisation and further enhanced the potential of the project,” Mako Gold managing director Peter Ledwidge said in the company’s announcement to the Australian Securities Exchange.

“We eagerly await the remaining assay results from our Tchaga drilling which may extend the mineralised trend even further, as well as our regional drilling results.

“Mako looks forward to providing the final assay results from the drilling program shortly.”

 

Website: www.makogold.com.au

 

Galan Lithium Receives Argentine Drilling Permits

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has received permits from the Secretaria de Estado de Minería ‐ Gobierno de Catamarca (the authority that approves drilling permits in Catamarca, Argentina).

The permitting allows Galan Lithium to conduct a maiden drill program over the company’s Western Basin projects located on the Hombre Muerto salar in Argentina.

The permits come following the recent completion of Galan’s initial resource drilling phase over the Candelas project located in the south‐east region at Hombre Muerto.

The company has been granted permits to drill a total of 14 drillholes plus five water bores within 18 months.

Work to enable access in preparation for drilling is now underway with drilling to commence thereafter.

Initial exploratory drilling is planned within the Pata Pila and Rana del Sal project areas.

“The drilling will target highly conductive anomalies recorded from CSAMT (Controlled Source Audio‐frequency Magnetotellurics) surveys previously completed in late September last year,” Galan Lithium said in its ASX announcement.

“These were the first surveys ever conducted over these targets with cover alluvial fans interpreted by the company to overlie prospective salar.

Pata Pila covers a large alluvial fan along the western margin of the salar with the geophysical profile showing an upper, horizontal conductive layer over approximately two kilometres being compatible with geological units interpreted to contain brines.

The Rana de Sal profile covers an alluvial fan area interpreted to overlie the salar.

The geophysical profile shows a highly conductive response over approximately 1.5km that are compatible with units interpreted to contain brines.

The eastern end shows the conductive anomaly remaining open, as expected, as the line enters the salar in the area where Livent has its operations.

Towards the west a more resistive unit is interpreted as basement.

 

Website: www.galanlithium.com.au

 

Magnetic Resources Extends HN9 Gold Zone

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THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) claimed a plus 200m-wide gold zone is emerging on the north-eastern part of the company’s Hawks Nest 9 (HN9) gold project near Laverton in Western Australia.

Magnetic Resources completed an extensive drilling program of 250 RC holes at HN9, which remains open downdip and to the north.

The drilling encountered the best shallow grades the company has intersected to date in this north-eastern zone, including:

MHNRC220
4 metres at 10 grams per tonne gold from 28m; and

MHNRC219
4m at 7.1g/t gold from 28m.

The company indicated it has nine new holes planned for this zone to test for further downdip extensions of what it considers to be a highly promising gold mineralised area.

Magnetic highlighted interesting shallow intersections of 8m at 2.9g/t Au from surface in MHNRC270 and 4m at 2.7g/t Au from surface in MHNRC280, which it claimed to have confirmed a very extensive surface gold zone on the western side.

An additional 31 infill holes are planned for this area to further define these thicker zones.

“With the Australian gold price around record levels of $2,050 the HN9 project being only 15 kilometres north-west of the Granny Smith Operations owned by Gold Fields Australia Pty Ltd and only 10 kilometres north-east of the Jupiter Operations owned by Dacian Gold Ltd at Laverton, (HN9) is shaping up and has potential for a large-scale shallow deposit,” Magnetic Resources managing director George Sakalidis said in the company’s announcement to the Australian Securities Exchange.

“This significant 2.1-kilometre target is coherent and is not closed off to the north, south, southwest and downdip to the east and is so far defined by 250 RC holes totalling 9813 metres and is now being tested over a very large 4.5-kilometre length.

“Future deeper drilling will be guided by the outline of the very extensive near surface results both on the downdip north-eastern side with 4 metres at 10 grams per tonne from 28 metres in MHNRC220 and 4 metres at 7.1 grams per tonne in hole MHNRC219 and the surficial gold mineralisation shown up by our latest drilling of 8 metres at 2.9 grams per tonne from surface in MHNRC270.”

 

Website: www.magres.com.au

 

Metalicity Drilling at Kookynie Gold Project

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has kicked off drilling at the company’s Kookynie gold project, south of the Western Australia Goldfields town of Leonora.

Metalicity is to carry out a program of reverse circulation (RC) and diamond drilling (DD) at Kookynie to confirm and extend zones of known mineralisation.

The program is to consist of approximately six holes in total (four planned into the DCC Trend, one planned into the McTavish prospect, and a final hole into the Champion prospect) for approximately 600 metres of RC and 600 metres of DD.

Metalicity recently completed mapping of the targeted area that it said supports the company’s interpretation of the controls of mineralisation.

The drilling on the DCC Trend is designed to also test mineralised cross cutting (east-west) structures that control the main north-south mineralised trends that host the Diamantina, Cosmopolitan and Cumberland historical workings.

The Company expects initial results from this drilling program to be available during July.

“We are very pleased to be undertaking the initial drilling program at Kookynie,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“We look forward to the results which will determine the direction of future drill programs to advance the understanding and confidence in the potential mineral resources.”

 

Website: www.metalicity.com.au