Dark Horse Resources Progresses Argentine Gold Projects

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THE DRILL SERGEANT: Dark Horse Resources (ASX: DHR) ecently copleted work on the company’s two major gold projects in Argentina: Las Opeñas in San Juan and Cachi in Santa Cruz.

Dark Horse Resources completed a first phase drilling program at Las Opeñas, resulting in the confirmation of some high-grade mineralised zones to moderate depths from surface and providing justification for the company to proceed to a second phase of drilling.

Other work involved mapping and geophysical programs carried out over some of the mineralised Cachi targets and have provided drill targets for planned drilling later in 2019 following the winter season.

Dark Horse undertook a 17-hole program at Las Opeñas testing known, but previously undrilled, high-grade gold, silver and base metal rich quartz veins discovered during surface mapping and sampling by previous owners.

The previous companies did not test these veins but focused drilling on an adjacent bulk tonnage, low-grade phreatomagmatic breccia target.

Most of the best intersections achieved in the recent drilling were made below the weathered, supergene zone, in primary mineralisation showing that grade persists at depth.

At the Chaci property in Santa Cruz Dark Horse completed mapping, ground magnetic, Induced Polarisation (IP) and rock‐chip sampling programs.

Although it is yet to receive all assay results, the company indicated it had sufficient results from the current program and prior programs to enable it to identify nine mineralised targets within the Cachi property, the five mains ones being Vetas Cachi, Morena, Vetas NW, Patricia and Puma.

Some of these targets have been prioritised for further work to assist with designing a drilling program, planned to commence following winter in the last quarter of 2019.

 

Website: www.darkhorseresources.com.au

 

Canyon Resources Scores Additional High-Grades at Minim Martap Bauxite Project

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THE DRILL SERGEANT: Canyon Resources (ASX: CAY) reported further positive results from an ongoing air core drilling campaign on the Beatrice Plateau at the company’s Minim Martap bauxite project in Cameroon.

Canyon Resources claimed the results demonstrate the project’s thick, high-grade, low contaminant bauxite from surface.

The company’s recent air core drilling completed on the Beatrice plateau recorded substantial high-grade mineralised holes which are much deeper than the current resource, sometimes up to twice the depth.

The Beatrice plateau has previously reported an inferred (JORC 2012) resource of 38.5 million tonnes at 50.76 per cent aluminium oxide (Al2O3) and 2.69 per cent silicon dioxide (SiO2).

The company said the assay results received from the current drill program have generally achieved higher grades, lower silica and deeper mineralised profiles than this previous resource.

Drilling intersections include:

6m at 58.19 per cent Al2O3 and 0.92 per cent SiO2 (total) from surface;

9m at 55.95 per cent Al2O3 and 2.76 per cent SiO2 (total) from surface;

9m at 54.81 per cent Al2O3 and 1.87 per cent SiO2 (total) from surface; and

10m at 54.57 per cent Al2O3 and 3.33 per cent SiO2 (total) from surface.

“The remainder of the assays from the 250 metres by 250 metres grid drilled on the Beatrice plateau have continued the very high-grade assay results and broad bauxite intersections that were recorded in the first batch of assay results,” Canyon Resources chief geologist Alexander Shaw said in the company’s announcement to the Australian Securities Exchange.

“We are also seeing significant increases in the depths of the mineralisation.

“Our drilling has increased the depth of the mineralisation to an average of 12 metres and a maximum of 17 metres.

“In some cases, this is double the previous results.”

 

Email: info@canyonresources.com.au

Website: www.canyonresources.com.au

 

Metalicity Calculates Kookynie Exploration Target

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has calculated a JORC 2012 Code-compliant Exploration Target for the company’s Kookynie project in the Eastern Goldfields of Western Australia.

Although conceptual in nature, Metalicity explained the Exploration Target had been estimated in accordance with JORC 2012 guidelines utilising data from historical work, including the review of pre-JORC 2012 mineral resource estimates, historical production and drilling results.

“The Kookynie gold project presents an opportunity to define high quality ounces in a short period of time,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“Having access to a wealth of historical work including mineral resource estimates, historical production and drilling results has greatly assisted Metalicity to quickly estimate an Exploration Target of between 230,000 ounces and 510,000 ounces.

“We are also buoyed by the fact that all Prospects at Kookynie are open along strike and down dip which bodes well for MCT to define and extend resources with our upcoming drilling campaign.

“We are excited to be progressing with this project and look forward to delivering further exciting news flow in the near term.”

The Kookynie project consists sixsignificant prospects; Champion, McTavish, Leipold, Diamantina, Cosmopolitan and Cumberland.

Metalicity has assessed each of these when preparing the Exploration Target based on an in-depth review of existing data of historical production and exploration.

At Cosmopolitan, the mineralisation is believed to be some 150 metres to 200m down dip from historic workings with no mineralisation assumed within the area of historic workings.

The upper end grade is estimated to be the historic mined grade.

At Diamantina and Cumberland, mineralisation is thought to be around 250m to 350m down dip and 500m along strike.

The maximum grade is assumed to be the historically mined grade of Cosmopolitan as the Diamantina and Cumberland are strike continuations of that mineralisation.

At Champion, McTavish and Leipold, the mineralisation is considered between 100m to 120m down dip and along strike.

The upper grade is assumed to be between 4 grams per tonne gold and 6g/t gold based on averages of drill hole intersections within the structures hosting mineralisation.

Metalicity indicated its first phase of exploration at Kookynie will focus on defining and extending known mineralisation rather than early stage exploration to find prospects as the company believes stating Exploration Targets in accordance with JORC 2012 guidelines will provide the market an insight on what exploration at Kookynie may produce.

The company’s intention is to scope out the extents of the mineralisation then define mineralisation quality at these prospects prior to conducting formal resource estimates.

 

Website: www.metalicity.com.au

 

Genesis Minerals Highlights Orient Well Open Pit Potential

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported drilling results from the company’s 100 per cent-owned Ulysses gold project, located south of Leonora in Western Australia.

Genesis Minerals is progressing an exploration program targeting extensions of the main Ulysses 760,000-ounce Mineral Resource in parallel with an expanding regional exploration campaign.

Recent Reverse Circulation (RC) drilling intersected further mineralisation at Orient Well NW 10 kilometres east of the above-mentioned Ulysses Mineral Resource, which the company deems to highlight potential to delineate shallow Resources in the area that could potentially be amenable to extraction via open pit methods.

The latest results confirm a strong zone of shallow gold mineralisation with assays including:

19USRC369
37 metres at 2.27 grams per tonne gold from 83m, including 11m at 6.16g/t gold from 91m;

19USRC368
32m at 1.8g/t gold from 50m, including 5m at 8.04g/t gold from 50m;

19USRC364
20m at 1.18g/t gold from 53m, including 7m at 2.66g/t gold from 59m; and

19USRC362
6m at 1.85g/t gold from 72m.

“Our recent drilling success at Orient Well shows just how prospective our broader tenement package is,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“We have only completed relatively limited regional drill programs outside of the Ulysses deposit and we have already generated sufficient data to underpin a potential open pit Resource at this emerging prospect.

“The upcoming aircore program will target further open pittable resources along a five-kilometre long prospective target zone which has had very limited exploration and is under transported cover.

“We are particularly encouraged by the fact that the high-grade mineralisation discovered in the Orient Well NW corridor to date is associated with felsic rocks which differ to the mafic-dominated host rocks of the Ulysses Resource.

“This reinforces the potential to define significant mineralisation throughout the Ulysses project.”

 

Website: www.genesisminerals.com.au

 

Ausgold Identifies Strong Anomalism at Winchester Prospect

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THE DRILL SERGEANT: Ausgold (ASX: AUC) announced completion of an aircore (AC) drill program conducted by the company’s Joint Venture partner Great Boulder Resources (ASX: GBR), at the Winchester prospect within the Yamarna project in Western Australia.

Ausgold said the recent exploration program consisted of 118 AC holes drilled and a ground gravity survey of 575 stations.

The AC drilling was conducted on a wide-spaced east-west grid measuring 400m by 1000m with the purpose of improving the current geological interpretation.

The drilling identified geochemical anomalism extending over a strike length of 2,500m with nickel values (>1500ppm), coincident copper (>100ppm) and >10ppb PGE (>10 ppm), which is slightly offset from the Bottom-of-hole (BOH) anomalism.

The geochemical anomaly extends anomalism identified at Winchester to the southern tenement boundary.

Previous drilling at the Winchester prospect by Ausgold and GBR had identified nickel-copper-cobalt-PGE mineralisation.

“We are pleased with the results of the recent exploration program which highlight the potential of the Yamarna project,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“AC drilling intersecting grades of up to 1.1 per cent copper, 0.7 per cent nickel and 0.04 per cent cobalt over 2,500 metres strike length highlight the potential for significant magmatic sulphide mineralisation.

“Great Boulder continue to advance the Yamarna project by spending $250,000, thereby meeting the first milestone to earn a 51 per cent interest in the project.

“The fast rate of progress ensures the highly prospective Yamarna project continues to be advanced by a focused nickel – copper explorer.

“The Joint Venture is structured in such a way that Ausgold retains a 25 per cent free-carried interest through to a decision to mine, allowing Ausgold to focus its efforts on its 100 per cent-owned Katanning gold project (KGP), where the company continues to have exploration success and is progressing towards a mine development of the 1.04 million-ounce gold Resource.”

 

Email: info@ausgold.com

Website: www.ausgold.com

 

Metalicity Kicks off Exploration at Kookynie and Yundamindra

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THE DRILL SERGEANT: Metalicity has commenced exploration activities at the company’s Kookynie and Yundamindra projects in the Eastern Goldfields of Western Australia.

Metalicity recently acquired the rights to develop via a Farm-In Agreement over the projects and is fast-tracking exploration activities targeting gold mineralisation extensions at historical mining operations located within the Keith-Kilkenny Tectonic Zone that have not been targeted by modern exploration over the last 25 years.

The Kookynie project is a known gold province north of Kalgoorlie that hosts the Diamantina-Cosmopolitan-Cumberland (DCC) trend, which produced 360,000 ounces at a grade of 15 grams per tonne gold from 1895 to 1922.

The company has completed geological mapping of the Kookynie project and commenced mapping at the Yundamindra project and accelerated preparations for a maiden drilling program at Kookynie, with drill sites identified and contractors approached to prepare the sites and conduct field logistics.

“The company is pleased to confirm that it remains on schedule to commence drilling activity in June 2019, with the next step to appoint drilling contractors,” Metalicity said in its ASX announcement.

“Metalicity is in the final stages of negotiations with experienced WA goldfields drillers and anticipates providing the market with an update shortly.

“The company intends to target mineralisation at depth, as most drilling has not confined the down dip or along strike extents at the prospects.

“Results of the recently completed mapping will further assist the development of exploration targets, with the company continuing to keep investors informed of drilling plans ahead of the campaign.”

 

The Resources Roadhouse spoke with Metalicity managing director Matthew Longworth at the recent RIU Sydney Resources Roundup. WATCH THE INTERVIEW HERE

 

Website: www.metalicity.com.au

 

De Grey Mining Encounters Further Toweranna High-Grade Intercepts

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THE DRILL SERGEANT: De Grey Mining (ASX: DEG) received results for 13 holes of a 42-hole RC drilling program undertaken at the company’s Toweranna gold deposit in Western Australia.

De Grey Mining explained the drilling was carried out on a 40 metre by 40 metre basis to allow for an open pit resource estimation to 200m depth, targeting lateral and depth extensions to the existing shallow 2018 Toweranna Mineral Resource of 2.01 million tonnes at 2.2 grams per tonne gold for 143,900 ounces.

Latest results include:

TRC141
15 metres at 5.11 grams per tonne gold from 205m, including 5m at 12.52g/t gold from 213m;

TRC142
8m at 16.37g/t gold from 228m, including 2m at 61.7g/t gold from 231m;

TRC146
4m at 15.34g/t gold from 36m;

TRC147
21m at 2.04g/t gold from 194m; and

TRC150
11m at 5.21g/t gold from 25m, including 2m at 18.55g/t gold from 33m.

De Grey Mining said the drilling results to date show numerous additional stacked lodes have been defined by the new RC holes as well as supporting a likely substantial increase to the current open pit resource to 200m depth.

The company is now evaluating potential to extend gold lodes beyond 200m with selected scout diamond holes testing for mineralisation between 200 to 600m depth.

“The new drilling results clearly suggest a substantial resource increase can be expected,” De Grey Mining technical director Andy Beckwith said in the company’s announcement to the Australian Securities Exchange.

“The stacked gold mineralisation has now been confirmed to extend throughout the entire 250 metre diameter granite body and to at least 200 metres depth and remains open at depth.

“The high-grade nature of the gold bearing quartz veins is especially encouraging.

“We expect the large volume of new assays that have been received will support a significant increase in the upper high-grade gold cut in the resource estimate, which may result in an increase in overall grade in addition to increased ounces.

“Importantly, many of the gold lodes remain open below the latest RC drilling and historical diamond drilling shows lodes occur to at least 425 metres depth.”

 

Email: admin@degreymining.com.au

Website: www.degreymining.com.au

 

Bellevue Gold Identifies New Targets and Makes New Discovery

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THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) has been busy at work on the company’s Bellevue gold project in Western Australia.

Bellevue Gold’s recent exploration activities have focused on the project’s Tribune and the Viago Lodes, alongside which the company declared a new discovery at depth in the Bellevue Footwall.

The company has carried out deeper drilling targeting what it considers potential to extend the depth of the Bellevue Lode.

Completion of a WA Government EIS funded, deeper diamond drill hole extended into the Bellevue Footwall intersected a major five-metre biotite shear zone with Bellevue Style mineralisation with visible gold over 1.5m approximately 150m below the underground mine (650m below surface).

Bellevue has identified several DHEM off hole conductors projected along strike that are ready for follow up drill testing.

Drilling of the Viago and Tribune Lodes Resource extension remains ongoing with the Viago Lode extending over 1,400m remaining open north, south and at depth.

The Tribune Lode extends over 1,300m and remains open north, south and at depth.

“The potential for an extension beneath the historic Bellevue mine to host a significant continuation of the mineralised system has been the major exploration target at the project since Bellevue Gold Ltd commenced exploration,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“It is a significant scale target and with no previous drilling completed beneath the 500 to 550 metres below surface level.

“The exploration team is highly encouraged to hit “Bellevue Style Mineralisation” and visible gold in the first hole completed.

“The down hole conductors defined from this maiden drilling are equivalent in size and tenor to the Viago and Bellevue Lodes and we are very excited to have the additional rig on site to test these DHEM conductive plates and step out on the identified shear system at depth over coming weeks.”

The new discovery was made immediately west of the Tribune Lode from drilling undertaken with DHEM that intersected a new, high priority ‘flat lying Viago look-alike’ target immediately west of Tribune Lode.

The first drill hole intersected: 4 metres at 8.3 grams per tonne.

A second step out drill hole 80m to the north intersected a 1.8m zone with abundant visible gold.

“It is also extremely pleasing that we have discovered the next high-grade lode to the west of the Tribune lode, which is in a flat lying orientation similar to the very high-grade Viago discovery last year,” Parsons continued.

“This new lode again reinforces the potential for further discoveries to be defined as we move out from the known Lodes to date.

“At the shallow Tribune and Viago North discoveries step-out drilling has continued to intersect high-grade lode gold mineralisation and has significantly expanded the strike length which still remains open.

“Technical work has commenced to deliver the forecast resource upgrade during Q2 2019.

“It is a sign of the quality of the Bellevue gold project in general that ongoing exploration continues to define new high quality and significant scale targets and maintain discovery momentum as increased step-out drilling is conducted at the project.”

 

Email: admin@bellevuegold.com.au

Website: www.bellevuegold.com.au

 

Red 5 Limited Increases King of the Hills Resource

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THE DRILL SERGEANT: Red 5 Limited (ASX: RED) reported an updated bulk mining Mineral Resource estimate for the company’s King of the Hills (KOTH) gold project, located in the Eastern Goldfields region of Western Australia.

The updated estimate comprises 66 million tonnes at 1.5 grams per tonne gold for an estimated 3.11 million ounces of contained gold.

The updated Resource represents a 65 per cent increase in contained gold over the previous Mineral Resource estimate announced in December 2018, with 76 per cent of the Resource, 53.1 million tonnes at 1.4g/t gold for 2.35 million ounces, now classified in the higher confidence Indicated Resource category.

The Resource includes open pit and underground components, comprising:

Open pit: Indicated and Inferred Resource of 48.5 million tonnes at 1.3g/t gold for 2 million ounces of contained gold (0.4g/t Au cut-off); and

Underground: Indicated and Inferred Resource of 17.5 million tonnes at 2g/t gold for 1.11 million ounces of contained gold (1.0g/t Au cut-off).

Red 5 said there was potential for further Resource growth, with a large proportion of the prospective Eastern Margin Contact remaining largely untested by drilling.

“This result furthers our goal of developing a large standalone bulk mining and processing operation at King of the Hills,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The upgraded Mineral Resource clearly demonstrates the scale and potential of this exceptional project, which we believe has the potential to form the cornerstone of a substantial mid-tier Australian gold business with the resource base, production profile and mine life required to attract global institutional investor interest.

“The updated Resource provides the foundation for a Pre-Feasibility Study to evaluate the economics of a potential stand-alone operation at KOTH which is now well underway.

“This PFS will focus initially on the open pit Resource, supplemented by the Resources currently being evaluated by our ongoing regional exploration program such as the recently announced Resources for the Rainbow and Severn satellite deposits.

“In addition to the results of the PFS, further news from the underground diamond drilling program – which is continuing to deliver exceptional results which have not been fully captured in this Resource upgrade – will be released in due course.

“The results being generated have demonstrated the potential for further significant growth in the Resource both down-plunge and along strike.”

 

Email: info@red5limited.com

Website: www.red5limited.com

 

Black Cat Syndicate Encounters Further High-Grade Drill Results

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) updated the market on recent activities at the company’s Bulong gold project in Western Australia that include initial results for sub-audio magnetic (SAM) targets along the project’s Myhree and Boundary corridor.

Black Cat Syndicate said it had been encouraged by results from initial drilling of the its priority SAM targets between Myhree and Boundary with all targets demonstrating gold mineralisation, confirming SAM surveys as an effective tool for targeting gold at Bulong.

Exploration drilling on the SAM Target 1 returned thick, high-grade results, including:

19BORC007
6m at 4.67 grams per tonne gold from 60m and 9m at 2.13g/t gold from 48m; and

19BORC008
7m at 1.44g/t gold from 72m.

Black Cat indicated these results will be followed up with further drilling to delineate the higher-grade mineralisation at the intersection of SAM Targets 1 and 4.

Exploration drilling along SAM Target 2 intersected a mineralised structure on the geophysical target.

Results include:

19BORC021
3m at 1.06g/t gold from 56m; and

19BORC020
1m at 0.97g/t gold from 71m.

Infill and extensional drilling on the Boundary South lode continued to provide mineralised intercepts, including:

19BORC016
5m at 2.95g/t gold from 107m; and

19BORC018
4m at 1.49g/t gold from 46m.

Black Cat expects the intercepts to increase Resources and to upgrade from Inferred to Indicated when new Resources are released for Myhree in July 2019 and for other deposits during the September 2019 quarter.

RC drilling is currently underway on the northern end of Myhree.

“The drilling results on the interpreted SAM targets are extremely encouraging,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The drilling at SAM Target 1 shows that the intersection of the NS and NE structures contains thick, high-grade mineralisation.

“At SAM Target 2, we have identified a mineralised structure providing a clear vector towards potentially high-grade mineralisation.

“SAM surveys are proving to be an effective targeting tool at Bulong.

“The SAM survey over Greater Woodline is expected to be available in June 2019.

“Other SAM surveys to the north of Boundary and to the south of Myhree are planned for the September 2019 quarter.

“In the meantime, extensional drilling has already recommenced at SAM Target 3 where exceptional mineralisation was drilled during April 2019.

“We continue to close the undrilled gap along this strongly mineralised corridor.”

The mineralised strike across the Myhree and Boundary deposits now totals approximately 965 metres while the untested area between the deposits has been reduced to around 600m with priority targets between to be drilled in the next three months.

 

Email: admin@blackcatsyndicate.com.au

Website: www.blackcatsyndicate.com.au