Hammer Metals Identifies Gold and Copper Targets in North Queensland

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THE DRILL SERGEANT: Hammer Metals (ASX: HMX) has identified a strong EM conductor within the company’s 100 per cent-owned Mount Isa project in north-west Queensland.

Hammer Metals recently completed ground-based fixed loop electromagnetic (FLEM) survey that identified the EM conductor in the Revenue mine area.

Soil surveys carried out in 2024 also identified several copper-gold and gold-only targets within the Mount Isa project.

The new EM conductor is now known as the Lex Target, the area of which lies west of the Revenue trend of historical workings, where historical drilling intersected metre scale zones of percent level copper and gold.

Lex is located north-northeast of the Clarks historical workings which consists of a chalcopyrite-bearing calcite vein.

Hammer indicated that Lex is to be drilled in the company’s upcoming RC program along with Tourist Zone South target in April.

“Hammer’s team had a busy 2024 collecting and collating significant datasets that have since yielded a number of high-quality targets to pursue in the coming year,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.

“The region remains lightly explored with our recent soil sampling program across the Pilgrim Fault representing the first meaningful work to be conducted on this tenure despite its proximity to highly mineralised projects at Tick Hill and Kalman.

“The standout EM conductor at Lex is intriguing with the added mystery of the area being undercover.

“I’m looking forward to seeing the drill test of this EM anomaly in the near term.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Impact Minerals Identifies Major Drill Targets at the Caligula Prospect

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THE DRILL SERGEANT: Impact Minerals (AX: IPT) has identified a new nickel-copper-palladium-platinum-gold-in-soil anomaly within the eastern part of the Caligula prospect at the company’s 100 per cent-owned Arkun project located just outside Perth in Western Australia.

Impact Minerals had previously identified Caligula as a large copper-dominated soil geochemistry anomaly over approx. 5,000m north-south and at least 2,000m east-west based on broad-spaced sampling.

Associated metals include silver, tellurium, bismuth, and molybdenum, indicating potential porphyry-style copper mineralisation.

The company explained the new, better-defined anomaly it has identified is situated along the eastern margin of the original Caligula anomaly.

The new target was identified via ongoing analysis of soil geochemistry results, regional magnetic and gravity data, as well as Mobile Magnetotelluric (MMT) and Electromagnetic (EM) data from airborne surveys.

“Our focus over the past 12 months has been on the Pre-Feasibility Study for the Lake Hope High Purity Alumina project, which is nearing completion,” Impact Minerals managing director Dr. Mike Jones said in the company’s ASX announcement.

“In the background, we have been developing the Caligula target for a maiden drill program, which will be partially funded by the $180,000 EIS grant we received last year.

“We hope to deliver another discovery in the emerging mineral field of the South West Yilgarn.

“The strong correlation between elevated palladium, platinum, and gold-in-soil anomalies and key geophysical conductors identified in our previous ground-breaking MMT and EM surveys highlights the compelling targets we plan to drill soon after the closure of the current renounceable rights issue on March 21st.

“I encourage all shareholders to participate in the issue to fund the completion of the Lake Hope PFS and this exciting drill program at Arkun. ”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Legacy Minerals Updates Drake Epithermal Gold-Silver Resource

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THE DRILL SERGEANT: Legacy Minerals (ASX: LGM) reported an updated Mineral Resource Estimate (MRE) for the company’s Drake epithermal gold-silver project in New South Wales.

Legacy Minerals’ updated open pit MRE stands at 0.65 million ounces gold, 24.3 million ounces silver, 147,000 tonnes zinc, 33,000 tonnes lead, 20,000 tonnes copper.

The total Resource now stands at 34 million tonnes containing 0.8 million ounces of contained gold equivalent metal and 35 million ounces of contained silver equivalent metal.

Gold and silver are the dominant contained metals in the Resource (653koz Au, 24.3Moz Ag), with a healthy zinc content and lesser amounts of copper and lead.

“With gold and silver prices at all-time highs, it’s a fantastic time to release a substantially increased Mineral Resource Estimate at our Drake Project,” Legacy Minerals CEO and managing director Christopher Byrne said in the company’s ASX announcement.

“The updated MRE highlights the impressive mineral endowment of the large-scale system at the Drake Project.

“Importantly for Legacy Minerals, the updated Resource model highlights the Drake Project’s significant exploration upside potential, with strong opportunities for resource growth through clear strike and depth extensions and new greenfield discoveries.

“Drake is a low-sulphidation epithermal gold-silver system.

“These systems are attractive deposits because they are often high-grade, high-margin, long-life underground mining operations.

“The fact that we are looking at a 34Mt deposit at surface, with no underground resource in the current mineral resource estimate, gives a glimpse of the system’s untested potential at depth.

“Achieving such significant MRE growth in such a short time highlights the quality of the Project and the team’s ability to leverage historical datasets and capitalise on the Project’s significant previous exploration expenditure.

“In addition to significant investment in historical exploration, the Drake Project also contains a substantial amount of critical infrastructure, including a tailings dam, grid easements, a 750ML water source, a site office, accommodation, a core shed, and core processing facilities within the exploration licence.

“The next round of exploration at Drake will aim to deliver substantial extensions to existing mineralised areas and new standalone discoveries that will be targeted upon completing the current geophysical and geochemical work programs.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Lincoln Minerals Re-assaying Historic Drill Core to Unlock Copper-Lead-Zinc Potential

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THE DRILL SERGEANT: Lincoln Minerals (ASX: LML) is conducting a detailed assay program targeting base metal intervals in previously unassayed drill core at the company’s Minbrie copper and base metals project near Cowell, South Australia.

Lincoln Minerals took the initiative to re-assay drill core from an historic Centrex exploration program following recent discoveries of multiple sulphide-rich zones it considers to have enhanced the project’s scale potential.

Centrex’s 2011 exploration focused solely on magnetite, leaving base metal potential largely untested.

Lincoln is targeting untested base metal mineralisation from selection of historic drill core previously unassayed for copper, lead, zinc, silver and other payable metals at Minbrie.

By leveraging existing drill core, Lincoln is implementing a rapid, cost-effective exploration program.

“We have commenced assaying historic core samples from Minbrie for copper, lead, zinc, and silver,” Lincoln Minerals CEO Jonathon Trewartha said in the company’s ASX announcement.

“Over the coming months, I feel this site represents the most exciting exploration opportunity in South Australia.

“Our goal is not only to provide evidence of a major base metal discovery but also allow Lincoln to develop and undertake an exploration program.

“Success here will demonstrate that the southern Gawler Craton is a highly desirable address, complementing the northern portion, which hosts Olympic Dam, Prominent Hill and Carrapateena.

“Our initial discovery at Minbrie, highlighted by copper, lead, zinc and silver intercepted in discovery hole BUDD192, underscored the untapped potential of this project.

“With an extensive archive of historic drill core, we can systematically assess Minbrie’s base metals prospectivity without the need for immediate redrilling.

“Centrex’s past focus on magnetite exploration meant base metals were overlooked.

“We anticipate completing the assaying process within the next 8 to 10 weeks and will provide updates as results emerge.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Adelong Gold Executes Advancement Deal for Adelong Gold Project

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THE BOURSE WHISPERER: Adelong Gold (ASX: ADG) has executed a binding agreement with Great Divide Mining (ASX: GDM) over the company’s Adelong gold project in New South Wales.

Adelong Gold explained the agreement would result in advancement of the Adelong gold project with GDM assuming responsibility for progressing the project towards production, aiming for first gold production within 12 months.

Should this milestone not be met, Adelong Gold retains the right to revert to 100 per cent ownership of the project.

Key terms of the agreement include:

• Investment Structure – GDM to invest $300,000 for an initial 15 per cent stake in Challenger Gold Mines (CGM) following due diligence.

• Operational Control – GDM will act as the project operator, managing site activities and overseeing plant refurbishment.

• Milestone-Based Ownership – Upon achieving first gold pour, GDM’s interest will increase to 51 per cent, with Adelong Gold maintaining a 49 per cent strategic interest.

• Free Carry for Adelong Gold – No funding obligations for Adelong Gold until gold production commences.

• Exploration Commitment – Additional exploration and feasibility studies to expand gold resources within the project area.

“We are pleased to have secured this agreement with GDM, which provides a clear pathway towards production at Adelong,” Adelong Gold managing director Ian Holland said in the company’s ASX announcement.

“The agreement aligns with our strategy to unlock the value of the project while ensuring a pathway to retain control should key milestones not be met.

“We look forward to working closely with GDM to advance the project and deliver value to our shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Ausgold Drilling Intercepts High-Grade Gold

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THE DRILL SERGEANT: Ausgold (ASX: AUC) reported the latest assay results from a Reverse Circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Katanning Gold Project (KGP) and surrounding tenement position in Western Australia.

Ausgold is conducting the drilling campaign with three main objectives in mind:

1) De-risk areas within the existing KGP mineral resource which are expected to comprise mining inventory in the early years of project operations.
2) Add to the existing resources at the KGP; and
3) Generate new gold mineralisation potential in the regional prospects surrounding the KGP.

Drilling at the Dingo target intersected zones of high-grade gold mineralisation, returning intercepts including:

BSRC1794
10 metres at 10.55 grams per tonne gold from 42m, including 2m at 50.57g/t gold from 43m;

BSRC1800
22m at 2.16g/t gold from 117m, including 14m at 3.03g/t gold from 123m; and

BSRC1793
11m at 2.8g/t gold from 49m, including 6m at 4.82g/t gold from 52m.

“The grade and width of the results from Dingo is particularly encouraging,” Ausgold executive chairman John Dorward said in the company’s ASX announcement.

“While Dingo has traditionally contributed a modest amount to the resource inventory at Katanning, these high-grade and shallow intercepts indicate the potential for a more meaningful contribution to the overall project from Dingo.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

New Murchison Gold Encounters Visible Gold in Crown Prince Drilling

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THE DRILL SERGEANT: New Murchison Gold (ASX: NMG) has been encouraged by what it has seen from recent diamond drilling undertaken at the Crown Prince gold project within the company’s Garden Gully gold project near Meekatharra, Western Australia.

New Murchison Gold is in the midst of drilling a series of deeper diamond holes targeting mineralisation down plunge from the south-eastern zone of mineralisation outside the current mineral resource estimate envelope.

Diamond hole NGGRCDD974 intersected a strong zone of alteration and shearing at 251.5m down hole which, New Murchison interpreted to be at the target zone.

At 252m an obvious zone, visible, vein hosted dendritic native gold was encountered.

The company acknowledged that assays were weeks away but couldn’t wait to get news out of the visual indications it said were highly encouraging, and material, in relation to the likely extension of the resource envelope.

“While we caution that assays are awaited from Diamond Hole NGGRCDD974 we are pleased to report the strong visual indications of mineralisation in a key extensional area for the Crown Prince resource,” New Murchison Gold CEO Alex Passmore said in the company’s ASX announcement.

“We look forward to further updating the market on the assay results and what the broader results are from this deeper drilling program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Alice Queen Hits High-Grade Epithermal Gold in Fiji

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THE DRILL SERGEANT: Alice Queen (ASX: AQX) reported an encounter with high-grade epithermal gold mineralisation in its maiden drill hole at the company’s 100 per cent-owned Viani project in Vanua Levu, Fiji.

Alice Queen conducted the diamond drilling at the Dakuniba prospect to test high-grade low sulphidation epithermal gold mineralisation that has been previously mapped over an area of three kilometres.

24VDD001 intersected several zones of gold mineralisation from 103.5 to 166.88m (63.38m) returning best results of:

1.25 metres at 2.24 grams per tonne gold and 12.48g/t silver from 107.9m, including 0.5m at 4.77g/t gold and 24.8g/t silver; and

1.9m at 8.52g/t gold and 13.1g/t silver from 144.2m, including 0.7m at 17.6g/t gold and 12.32g/t silver.

“While it is too early to call this a ‘discovery’, it certainly seems to me that this has all the hallmarks of one,” Alice Queen managing director Andrew Buxton said in the company’s ASX announcement.

“Now that we have been able to replicate the high-grade gold hit that JICA made in the 90’s, with more than three kilometres of surface gold anomalism still to test within a large 200 square kilometres tenement area, and with drilling continuing on site, it feels like just a matter time before we can claim Viani as the ‘next big thing’ in the exciting and evolving story of gold mining in Fiji.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Meeka Metals Encounters New Turnberry South High-Grade Gold Zone

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THE DRILL SERGEANT: Meeka Metals (ASX: MEK) has identified a new zone of shallow high-grade gold at the company’s Murchison gold project in Western Australia.

Meeka Metals reported assays from this new zone it encountered on the western side of Turnberry South at the Murchison project.

Assays from the new gold zone include:

25TBGC012
21 metres at 5.13 grams per tonne gold from 51m, including 5m at 15.65g/t gold;

25TBGC011
18m at 3.61g/t gold from 83m, including 4m at 10.85g/t gold; and

25TBGC010
11m at 4.04g/t gold from 52m, including 1m at 22.5g/t gold and 2m at 7.46g/t gold.

The company considers the width of mineralisation and high-grade achieved by the recent drilling is likely to result in an expansion of the Turnberry South stage 1 open pit design.

The company also reports new assays from the high-grade eastern side of Turnberry South.

“We had not previously intersected this high-grade gold zone on the western side of Turnberry South due to the orientation of prior drilling,” Meeka Metals managing director Tim Davidson said in the company’s ASX announcement.

“We are now prioritising drill delineation along strike to incorporate into an expanded grade control model and updated stage 1 open pit design.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Warriedar Resources Achieves High Gold Recoveries at Windinne Well

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) has been busy at the company’s Golden Range Project located in the Murchison region of Western Australia.

Warriedar Resources recently conducted metallurgical testwork in the form of bottle roll leach tests on recent Reverse Circulation (RC) drilling samples taken from the project’s Windinne Well gold deposit.

The company had the test carried out on five primary gold samples (fresh rock) extracted from the Windinne Well deposit.

The results demonstrated Windinne Well primary gold mineralisation to be free milling with excellent recoveries producing an average gold recovery of 98.2 per cent, with the best result up to 99.8 per cent.

Last year, Warriedar commenced evaluating other deposits within the Golden Corridor aside from its main focus of the Ricciardo deposit.

 

Amanda Buckingham spoke with The Resources Roadhouse at the recent RIU Explorers Conference.

 

This resulted in identification of Mineral Resource growth potential from several deposits, including M1 and Windinne Well, Azure Coast and Bugeye.

This potential is set to be a key focus of Warriedar’s growth-focussed drilling at the Golden Range project during 2025.

“Warriedar’s main focus is growing its fresh rock gold resources at Golden Range, via both extension of existing deposits and targeted new discoveries along the shear,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“At almost one million ounces and growing, Ricciardo is our flagship deposit in this regard.

“However, we also hold other deposits within the ‘Golden Corridor’ that, by virtue of their possible free milling nature, possess the potential for more rapid, capital-lite commercialisation.

“Following our drilling and successful extension of it during 2023, and with an existing high-grade resource approaching 100,000 ounces (at 2.9 g/t Au) and further growth potential, Windinne Well is at the forefront of this complementary focus.

“We have recommenced drilling at Windinne Well, and we are excited to advance our evaluation of its potential for early mining and monetisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE