Alchemy Resources Running High-Resolution UAV Magnetic Surveys at Karonie

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) is set to run high-resolution UAV magnetic surveys at the company’s 100 per cent-owned Karonie project in Western Australia.

Alchemy Resources explained it expects the surveys will provide a better understanding of the areas defined from the recent field mapping and aid in interpreting basement geology and mineralisation trends.

Alchemy is planning to drill test these areas shortly.

To refine the targets for drill testing, Alchemy has commissioned detailed UAV magnetic geophysical surveys to be conducted over the structures to the north of the existing Taupo and KZ5 resources, Karonie east and to the south at the new greenfields Western Brown lakes target and the Gilmore trends.

Results and interpretation of the magnetics data are expected to be completed in late October.

“Concurrent with our proposed drill programs, we have engaged Pegasus Airborne Systems to complete a very detailed drone based geophysical survey over high priority areas at Karonie,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“I am very keen to define the structural framework that potentially hosts mineralisation north and south of the nearby Aldiss Mining Operations, which remains poorly tested by modern exploration methods.

“The geophysics will give us the detail needed to ensure our target generation is efficient and any follow-up drilling planned is as effective as possible.”









Dreadnought Resources Drilling at Tarraji-Yampi

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) announced commencement of RC drilling at the company’s Tarraji-Yampi project in the West Kimberley region of Western Australia.

Dreadnought Resources indicated the RC drilling has kicked off with a total of 30 holes planned at the Orion, Fuso and Grant’s Find prospects.

The drilling will commence at Orion (23 holes) followed by Fuso (4 holes), Grant’s Find (3 holes) with follow up drilling undertaken based on the results of initial drilling and down hole EM (DHEM) surveys.

The drilling at Orion will follow up on a previous massive sulphide intersection of:

12 metres at 1.6 per cent copper, 31.7 grams per tonne silver and 0.5g/t gold from 45m;

…and will test along strike, at depth and for shallow supergene mineralisation.

“We are embarking on a 30+ hole RC drill program that will follow up on the significant intercepts at Orion, Fuso, and Grant’s Find,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“In addition, we will test a further six high quality magnetic/EM anomalies.

“Orion, Fuso and Grant’s Find are considered to be part of a large mineralised system and this program will provide the framework to determine the scale of the opportunity.”












Latitude Consolidated Commences Murchison Phase 2 Drilling

THE DRILL SERGEANT: Latitude Consolidated (ASX: LCD) has kicked off its Phase 2 exploration program for the company’s Murchison gold project in Western Australia.

Latitude Consolidated will commence drilling at the Turnberry South target location with RC drilling infilling and testing a thick high-grade south plunging shoot.

This will be followed by drilling at Turnberry Central were broad high-grade mineralisation remains open at depth.

In addition to the RC drilling, Latitude has diamond drilling service provider on board, ready to mobilise to site in the December quarter to complete diamond tails for several deeper targets within the Turnberry Central zone.

To keep things moving, aircore drilling is scheduled to commence at St Anne’s in the December quarter as drilling at Turnberry concludes, with the company eager to follow up previous broad high-grade drill results at that prospect where anomalous gold is observed over 500m of strike.

“We are excited to be getting our second exploration field program underway at the Murchison gold project,” Latitude Consolidated CEO Tim Davidson said in the company’s ASX announcement.

“Our Phase 1 exploration program, which we completed earlier this year, was designed as an advanced greenfield program testing a number of areas on our tenure where previous exploration has shown there to be high-grade mineralisation.

“Our drilling confirmed this and provided valuable information as we advance each of those prospects.

“Our upcoming Phase 2 exploration program is a very targeted brownfield drilling program focussing on the near mine high-grade mineralisation which is important for both growth and confidence in the resources as the company advances the project to development ready.

“We are exceedingly confident in the quality of our Murchison gold project, and I look forward to providing further updates over the coming weeks as the exploration program progresses.”







Matsa Resources Updates Fortitude Optimisation Study

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) reported results from a recently updated scoping study for the Fortitude Pit, at the company’s Lake Carey gold project in the Eastern Goldfields of Western Australia.

Matsa Resources said the study had determined the Fortitude Pit would produce a potential cash surplus of $95 million over an estimated mining period of four years based on Matsa’s proposed 600,000 tonnes per annum processing plant.

A sensitivity review was also carried out that indicated the project to be robust with potential for improvement from lower mining and processing costs by utilising a larger mining fleet and a bigger processing plant.

The revised optimisation has been driven by the recently announced revised Minerals Resources Estimate for Fortitude, which stands at 8,048,000 tonnes at 1.9 grams per tonne gold for 489,000 ounces and represents a 43 per cent increase in resource ounces from this time last year.

“This is a fantastic result, Lake Carey just keeps getting better and whilst more work will improve the economics of the Fortitude mine, on face value it alone now justifies the mill strategy,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“The Devon and Fortitude open pits alone could now provide collective positive cash flows of $140 to $150 million and with ongoing exploration in this great project, I’m very confident we can continue to build on this result.

“This study was completed using a gold price of $2,400 per ounce for the optimisation and the results have effectively doubled the mine life and gold production.

“What’s also really pleasing is that 95 per cent of the ounces in this bigger pit are in the Measured and Indicated categories.

“I’m also very confident we can improve on this projection with the lower cost structures you would expect from a larger mill than the 600,000 tonnes per annum currently envisaged and I expect the larger pit should also provide an improved scheduling and cost structure scenario.

“The exploration potential at Lake Carey is significant.

“Importantly, we’ve already commenced underground studies at Fortitude, if we can add an underground component to the Fortitude open pit this could be very interesting indeed.”







Zenith Minerals Commencing New Split Rocks Drill Program

THE DRILL SERGEANT: Zenith Minerals has begun a major infill and extensional aircore (AC) drill program targeting key targets within the compapny’s Split Rocks gold project in Western Australia.

Zenith Minerals has the program, consisting approx. 100 additional holes, underway at the Dulcie Far North, Dulcie North, Scott’s Grey and Estrella prospects.

The company recently completed another program of 100 AC drilling holes that confirmed and upgraded these and other targets.

The current AC program is anticipated to be followed by RC drilling on these near surface gold results and at the adjoining Dulcie targets (Dulcie Laterite Pit & Water Bore).

“We have now identified multiple mineralised structures that extend over a cumulative strike of more than three kilometres,” Zenith Minerals chairman Peter Bird said in the company’s ASX announcement.

“This phase focuses on testing the continuity of gold mineralisation within the individual shear zones as we work towards building gold inventory later in the year.

“At that point real value can be ascribed to the property.”







Kairos Minerals Expands Pilbara Gold Project

THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) announced further expansion to the company’s 100 per cent-owned Pilbara gold project in Western Australia.

Kairos Minerals advised the market it has secured a strategic tenement package it considers prospective for both intrusive-related gold and lithium discoveries.

The package includes the newly named Rocklea project that comprises two new Exploration Licence Applications (E45/5960 and E45/5961), while a new Exploration Licence Application (E45/6018) was added to the existing Lalla Rookh project.

The two Rocklea Exploration Licence Applications cover mainly the granitic rocks of the Sisters Supersuite intrusion, which is displaced by a northwest-southeast fault zone.

The new Lalla Rookh Exploration Licence Application primarily covers the paleoarchaean rocks of the Cleland and Callina supersuites.

Ultramafic rocks are mapped within the ELA and are considered prospective for gold and base metals mineralisation.

The Lalla Rookh historic gold mine sits approximately two kilometres south of the new tenement area.

“This is an exciting addition to our Pilbara gold project, which already encompasses a very large and strategic footprint in this Tier-1 mining and exploration district,” Kairos Minerals executive chairman Terry Topping said in the company’s ASX announcement.

“The new licence applications will increase our overall ground-holdings by 30 per cent to over 2,000 square kilometres, making us one of the largest land-holders in the central and east Pilbara with ground situated across a number of important strategic geological structures.

“The new Exploration Licences covering the Rocklea and Lalla Rookh projects are highly prospective for both Hemi-style, intrusive-related gold discoveries and LCT-style pegmatite lithium discoveries.

“This is another demonstration of our commitment as a long-term strategic explorer in the Pilbara region and further strengthens our deep pipeline of exploration opportunities.

“We look forward to the commencement of initial exploration activities including an airborne magnetic and radiometric survey.”







Ausgold to Commence Drilling Campaigns at Katanning Gold Project

THE DRILL SERGEANT: Ausgold (ASX: AUC) is steeling itself, preparing for some serious drilling activity to commence at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold anticipates the upcoming activity to build on the project’s existing 1.54 million ounce gold Resource.

A program of eight diamond drill holes is currently underway targeting key Resource areas within the Central and Southern zones that is expected to be completed soon.

This drilling is designed to support metallurgical and geotechnical studies at the KGP that are supporting feasibility studies targeted for early CY2022.

The company is also analysing over 18,500m of drilling results in existing Resource areas within the Central and Southern zones that are to be incorporated into a further Resource update aimed for Q1, CY2022.

A large-scale reverse circulation (RC) multi-rig drill campaign is scheduled to begin late October and continue through to early CY2022 with the primary focus on high-grade targets outside the existing Resource within the Central and Southern zones that were identified as part of over 18,500m of RC and diamond drilling completed since April.

But wait, there’s more. Ausgold plans a regional exploration program of 2,500m of auger and 30,000m of aircore drilling to test 12 high priority gold and PGE targets across its regional ground.

High-priority gold targets, including the Nanicup Bridge, Bullock Pool, Mutters and Burong targets, will be tested.

As well, a follow-up program will test potential identified earlier in the year at Woodanilling, including 1.3 per cent copper and 12.6g/t silver with elevated gold, zinc bismuth, cadmium, cobalt, titanium and zinc.

“Ausgold is at an exciting transition point heading into a large-scale drilling campaign where we are focused on our ambition for a multi-million-ounce Resource which will support a significant mining operation at the KGP,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“I look forward to a highly active summer period as we continue to build out scale at Katanning.”








Peel Mining Continues High-Grade Mallee Bull Hits

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported assays from recent drilling at the company’s 100 per cent-owned Mallee Bull copper deposit, centred approx. 100 kilometres south of Cobar in New South Wales.

Peel Mining claimed the infill drillholes conducted during resource upgrade drilling confirmed additional high-grade copper and very high-grade zinc-lead-silver mineralised intercepts.

The latest assays from Mallee Bull resource upgrade drilling yielded further high-grade copper and very high-grade zinc-lead-silver mineralisation, including:

57 metres at 3.7 per cent copper, 39 grams per tonne silver from 614m

24.7m at 4.33 per cent copper, 33g/t silver from 414.3m, and 4.41m at 16.82 per cent zinc, 17.67 per cent lead, 109g/t silver, 0.45 per cent copper, 0.98g/t gold from 352.59m

10m at 3.41 per cent copper, 35g/t silver from 426m

20.7m at 2.28 per cent copper, 44g/t silver from 390.3m

9m at 13.11 per cent zinc, 12.83 per cent lead, 107g/t silver, 1 per cent copper, 1.57g/t gold from 395m.

“As anticipated, Mallee Bull is now delivering the broad high-grade copper intercepts we saw historically, with MBDD048 and MBDD052 yielding very impressive chalcopyrite-rich intersections,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“In addition, and as foreshadowed, the very high-grade zinc-lead-silver mineralisation seen in MBDD046 has now been repeated in nearby drillholes MBDD048 and MBDD051, substantiating the likely presence of a new, economically important, zinc-lead-silver lens.

“Drilling at Mallee Bull continues to advance well with approx. 75 per cent of the original resource definition program now completed.

“A review of drilling is currently underway seeking to optimise the resource upgrade outcome in anticipation of study work in the new year.

“Further results are anticipated to be received in the coming weeks.”








Predictive Discovery Releases Bankan MRE

THE DRILL SERGEANT: Predictive Discovery (ASX: PDI) released a JORC 2012-compliant Mineral Resource Estimate (MRE) for the company’s Bankan gold project, located in Guinea’s Siguiri Basin.

The total Inferred Mineral Resource has been estimated at 72.8 million tonnes at 1.56 grams per tonne gold for 3.65 million ounces of gold.

Predictive Discovery has reported the maiden MRE just 17 months since the Bankan project discovery drillholes were reported to the market, which the company said highlights the rapid growth of the Bankan project.

“We are delighted by the scale of this initial Mineral Resource Estimate which reflects excellent continuity of mineralisation and has been generated from 32,700 drilling metres,” Predictive Discovery managing director Paul Roberts said in the company’s ASX announcement.

“After only 17 months from announcement of the initial NE Bankan drill results, this is just the beginning of the Bankan gold discovery story.

“Our gold discovery success in such a small time period invites comparisons with the best gold deposit discovered in West Africa in the last decade – Fekola in Mali.

“Also announced 17 months after first discovery, the Fekola MRE contained 3.9 million ounces averaging 1.7g/t gold at a 0.5g/t gold cut-off grade and 3.1 million ounces averaging 2.4g/t gold at a 1g/t gold cut-off grade.

Today, Fekola’s 2021 production is projected to be 530,000 to 560,000 ounces at an AISC of US$745-785 per ounce, with current quoted resources (excluding mine depletion since 2017) at Fekola itself and nearby deposits totalling 7.6 million ounces.

“We are very well-funded to accelerate a drilling program to grow resources in both NE Bankan and Bankan Creek, increase drill density to increase confidence, and to quickly advance earlier stage regional prospects through to discovery and resource definition.”







Cazaly Resources Encounters New Halls Creek EM Conductors

THE DRILL SERGEANT: Cazaly Resources (ASX: CAZ) recently completed a ground based Moving Loop Transient Electromagnetic (MLEM) survey at the company’s Halls Creek project in Western Australia.

Cazaly Resources reported the MLEM survey identified two substantial bedrock conductors at Mount Angelo North and Moses Rock.

The EM conductor at Moses Rock is located within the Koongie Park Formation, the same rock units that host the Mount Angelo North copper-zinc deposit.

The company explained that both EM conductors exhibit similar conductance however the southern target at Moses Rock is somewhat larger in scale than the conductor at Mount Angelo North, from which Cazaly has taken further encouragement of a potentially large massive sulphide discovery.

Recent reprocessing of historical Heli-TEM survey data also highlights these two areas and shows structural complexity at Moses Rock.

Cazaly has also recently completed diamond drilling at Mount Angelo North that intersected broad zones of copper and zinc mineralisation 70m below the current resource model.

The RC drilling confirmed good, consistent high-grade copper-zinc mineralisation, which marginally extended the known limits of the deposit and highlighted a potential new down plunge position for zinc mineralisation.

“The ground MLEM survey was designed to follow up on targets previously identified in historical airborne HeliTEM data,” Cazaly Resources CEO Tara French said in the company’s ASX announcement.

“The recent MLEM survey confirmed a target along strike to the southwest of Mount Angelo North copper-zinc deposit.

“A second larger scale target has also been identified at Moses Rock.

“This provides the company with further encouragement that the Halls Creek project has the potential to host more massive sulphide deposits hidden under cover.”