Barra Resources Drilling at Burbanks North

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THE DRILL SERGEANT: Barra Resources (ASX: BAR) has commenced an air core drilling program on the company’s Burbanks project, south of Coolgardie in Western Australia.

Barra Resources indicated the drilling is aimed at extending known mineralisation along the Burbanks North Trend.

The company’s previous air core drilling, undertaken at the Burbanks North deposit, identified broad and continuously gold mineralisation at shallow depths over an initial strike length of 350 metres.

The current program is expected to extend on the earlier drilling to test a further 650m of strike length to the north to a total of up to 1,000m along the Burbanks North Trend.

This will include some infill drilling through the Fangjaw prospect where Reverse Circulation (RC) drilling in 2010 yielded encouraging gold results.

“Based on the significant mineralisation identified from the earlier drilling programs alone, Barra expects to be able to estimate a shallow oxide maiden Mineral Resource for the Burbanks North Trend immediately following the drilling program,” Barra Resources said in its ASX announcement.

 

Email: info@barraresources.com.au

Website: www.barraresources.com.au

 

Carawine Resources Extends Hill 800 Gold-Copper Zone

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Carawine Resources (ASX: CWX) declared it latest results as some of the highest gold grades returned to date from Hill 800, an advanced gold prospect within the company’s 100 per cent-owned Jamieson project, located in northeast Victoria

Carawine Resources said the latest diamond drilling program at Hill 800 increased the strike and width of the Stringer Zone mineralisation.

The latest assay results are from the extension of hole H8DD004, targeting strike extensions to gold and copper mineralisation in the Stringer and 650 Zones, returning the following intervals:

H8DD004

Stringer and 650 Zones (combined interval)

67 metres at 2.13 grams per tonne gold, 0.1 per cent copper from 143m (0.3g/t gold cut-off)

Stringer Zone

49m at 2.54g/t gold, 0.2 per cent copper from 143m (0.3g/t gold cut-off), including: 17m at 6.62g/t gold, 0.3 per cent copper from 157m (1g/t gold cut-off), including: 1.1m at 10.3g/t gold, 1 per cent copper from 162m (10g/t gold cut-off);

1m at 20.2g/t gold, 0.2 per cent copper from 166m (10g/t gold cut-off); and

2m at 37.5g/t gold, 0.3 per cent copper from 172m (10g/t gold cut-off)

650 Zone

14m at 1.28g/t gold from 196m (0.3g/t gold cut-off), including: 7m at 2.27g/t gold from 203m (1g/t gold cut-off)

“These latest results were particularly exciting because they have increased the width and strike length of the Stringer Zone, the highest-grade part of Hill 800 mineralised system discovered to date,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“We recognised the importance of the Stringer Zone with our first drill holes at Hill 800 and these latest results show its potential to become a significant body of high-grade gold and copper mineralisation.

“Each hole we drill gives us a better understanding of its size, orientation and grade, defining a wide mineralised envelope containing numerous extremely high gold grades which together make a very attractive target.

“This is also just our second hole into the recently discovered 650 Zone, with the results showing an increase in gold grade and alteration intensity.

“Both zones remain open, with a drill hole currently in progress targeting the area immediately above these latest, exceptional intersections.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Ausgold Intersects Further Jinkas South Mineralisation

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THE DRILL SERGEANT: Ausgold (ASX: AUC) reported results of reverse circulation drilling (RC) undertaken at the Jinkas South prospect, within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia’s south-west.

Ausgold commenced the drilling in March targeting high-grade gold mineralisation within the Jinkas South area it considers having potential to add both grade and total ounces to the current KGP Mineral Resource, which stands at 25.1 million tonnes at 1.29 grams per tonne gold for 1.04 million ounces of gold.

Intercepts from the recent RC drilling at Jinkas South include:

BSRC0871
16 metres at 6.21 grams per tonne gold from 114m, including 4m at 22.38g/t gold;

BSRC0871
5m at 1.88 g/t gold from 76m;

BSRC0875
25m 1.13 g/t gold from 115m including 5m at 3.41 g/t gold;

BSRC0875
6m at 2.11 g/t gold from 97m;

BSRC0876
4m at 2.63 g/t gold from 72m including 2m at 4.65 g/t gold;

BSRC0872
12m at 0.85 g/t gold from 63m including 6m at 1.15 g/t gold;

BSRC0878
5m at 1.45 g/t gold from 71m including 4m at 1.70 g/t gold; and

BSRC0877
14m at 0.98 g/t gold from 86m including 1m at 7.30 g/t gold.

Ausgold said the new drilling had combined with a ground gravity program to identify controls on high-grade gold mineralisation and supports the recent geological interpretation along the eastern edge of the Jinkas deposit.

“RC drilling at Jinkas South has again intersected high-grade gold mineralisation, further extending the identified zone of high-grade mineralisation over a strike length of 350 metres,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This high-grade mineralisation remains open along strike making it an attractive target with the potential to significantly add to the 1.04 million ounces already identified at the KGP.

“With the new gravity survey, several previously unidentified faults have been highlighted allowing more targeted drill programs in the future.

“Further work is currently being undertaken to better delineate gold mineralisation down dip of and along the Jinkas trend.

“These represent immediate exploration targets coincident with gravity anomalies, where the Jinkas and White Dam lodes coalesce.

“This down-dip position towards the east remains poorly tested with the current drilling at the KGP only effectively testing the top 150 metres, leaving the down- dip extent of the Jinkas-White Dam mineralisation largely untested.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Spectrum Metals Encounters Highest Grade Penny North Intersection

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THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) announced results from a further three holes from recent drilling at the Penny North lode, located south of the Youanmi mining centre in Western Australia.

Highlights from the results include:

SPWRC022
4 metres at 105.2 grams per tonne gold from 151m, including 1m at 292.8g/t gold from 153m;

SPWRC001
2m at 19.7g/t gold from 115m; and

SPWRC021
1m at 10.8g/t gold from 154m.

Spectrum Metals explained the intersection in hole SPWRC022 was encountered immediately down dip of previously released hole SPWRC018, which recorded an intersection of 4m at 35.2g/t within 9m at 16.2g/t gold from 130m.

The company declared the new results add another high-grade section line to the south in the Penny North lode and increases its knowledge of the continuity of the high-grade mineralisation around the initial discovery.

Assays are pending for other drilling – Magenta (3 holes), Penny West (11 holes) and Penny North (12 holes).

“The intersection of four meters at 105.2 grams per tonne gold in hole SPWRC022 is the highest-grade intersection yet seen in our program at Penny North and lies down dip of four metres at 35.2 grams per tonne,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.

“At this location, the lode is exhibiting a very strong tenor and builds on our knowledge base of the distribution of high-grade within the lode structure.

“As more results become available, we expect to be able to discern the orientation of this high-grade zone which in turn will inform our targeting of the gold system down plunge as our program continues.”

 

Email: info@spectrummetals.com.au

Website: www.spectrummetals.com.au

 

Technology Metals Australia Upgrades Gabanintha North Resource

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THE DRILL SERGEANT: Technology Metals Australia (ASX: TMT) reported on the update of the JORC Code 2012-compliant Northern Block Mineral Resource estimate and resulting Global Mineral Resource estimate for the company’s Gabanintha vanadium project.

The updated Northern Block Mineral Resource estimate includes a Measured and Indicated Mineral Resource of 30 million tonnes at 0.9 per cent vanadium oxide (V2O5) and 11 per cent titanium dioxide (TiO2), incorporating the maiden Measured Mineral Resource estimate in the North Pit area.

The Global Resource estimate for the project of 131 million tonnes at 0.9 per cent V2O5 and 10.1 per cent TiO2 includes a high-grade component of 71.2 million tonnes at 1.1 per cent V2O5 and 12.7 per cent TiO2 contained within a consistently mineralised massive magnetite zone.

“The significant increase to the Indicated Resource, a key component to support a material extension to the project mine life, and the substantial increase to the high-grade portion of the Resource, provides an indication of the potential very long tenor of this high-quality globally significant vanadium project,” Technology Metals Australia managing director Ian Prentice said in the company’s announcement to the Australian Securities Exchange.

 

Email: investors@tmtlimited.com.au

Website: www.tmtlimited.com.au

 

Kin Mining Confirms Mertondale 5 Pit Down-Plunge Extension

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported results from recent drilling at the Mertondale 5 deposit, part of the ongoing assessment of development opportunities at the company’s Cardinia gold project in Western Australia.

Kin Mining explained the deeper diamond drilling at Mertondale 5 focused on testing the geological, geotechnical and metallurgical assumptions for mining and interpretation of the deposit and understanding the controls on gold mineralisation.

The company indicated the Mertondale 5 drilling confirmed the orebody extends at depth, returning:

ME19DD001
14 metres at 2.5 grams per tonne gold from 217m; and

ME19DD002
3.8m at 1g/t gold from 279.2m.

The drilling was undertaken as an initial test of the continuity and direction of the interpreted northerly plunging shoot of historically-mined high-grade gold mineralisation and to determine if graphitic shale forms a component of the mineralisation.

“The latest drilling has significantly improved the company’s geological understanding of the Mertondale 5 prospect and will guide the future resource development drilling which will target expansion and category upgrade of the existing Mineral Resources at the deposit,” Kin Mining said in its ASX announcement.

The Mineral Resource Estimate for Mertondale 5 currently stands at 1.03 million tonnes at 1.8g/t gold for 60,000 ounces, consisting of 0.81 million tonnes at 1.83g/t gold of Indicated and 0.22 million tonnes at 1.71g/t gold of Inferred Resources.

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Helix Resources to Commence Samuel Copper Project Drilling

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THE DRILL SERGEANT: Helix Resources (ASX: HLX) has been asked by its funding partner, JOGMEC, to fast-track drilling at the company’s Samuel copper project in Chile.

Helix Resources said JOGMEC has requested for the fast-tracking of drilling following the positive outcomes from the field surveys in the initial phase of geophysics and surface sampling.

The drilling is intended to test historic copper oxide workings, in an area of coincident geophysical anomalism, copper geochemistry at surface and local structural complexity.

The first hole is expected to be drilled to a depth of 400 metres to pass under the copper workings, continuing into fresh rock to test for manto-style copper and/or porphyry style copper mineralisation at depth.

“We are excited to see positive results returned from the initial field campaign at the Samuel copper project JV in Chile,” Helix Resources managing director Mick Wilson said in the company’s announcement to the Australian Securities Exchange.

“Our JV Partner, the highly regarded Japanese organisation JOGMEC, has requested the JV to move immediately to drilling and is fully-funding the programs.

“With third-party funding covering costs in Chile over the next few years, it allows Helix to retain exposure while the projects are de-risked.

“Importantly it allows Helix to continue to focus our main efforts on the advancement of our flagship copper assets in New South Wales, where a Maiden Resource for the Collerina project is imminent.”

 

Email: helix@helix.net.au

Website: www.helix.net.au

 

MOD Resources Releases T3 Copper Feasibility Study Results

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THE DRILL SERGEANT: MOD Resources (ASX: MOD) announced the results of a recently-completed Feasibility Study (FS) carried out at the company’s 100 per cent-owned T3 copper project in Botswana.

MOD Resources’ T3 project is a new sediment hosted copper and silver deposit located in the underexplored Kalahari Copper Belt of Botswana.

The project features a proposed 11.5-year open pit mine, a 3 million tonnes per annum conventional processing plant and all associated infrastructure

The T3 FS was modelled on the recently-announced 34.4 million tonnes at 1 per cent copper and 13.2 grams per tonne silver for 342,700 tonnes (approx. 756mlb) of copper and 14.6 million ounces of silver T3 Ore Reserve.

MOD has progressed T3 to completion of the Feasibility Study from the discovery drill hole, drilled in 2016.

The company claimed the FS has demonstrated the opportunity to develop a copper mine that is expected to generate revenue of US$2.3 billion at a margin of over 47 per cent across the 11.5-year mine life using a long-term consensus copper price of $3.08 per pound.

The FS determined the T3 copper project is underpinned by strong fundamentals including an LOM average copper grade of one per cent, an orebody geometry that facilitates a simple, six-stage open pit design and metallurgy that requires a relatively moderate capital investment, producing high grade copper concentrates with an average copper grade of 30.4 per cent.

Key Outcomes of the T3 Copper Project Feasibility Study

The project boasts strong economics with estimated LOM revenue of US$2.3 billion and EBITDA of US$1.1 billion, an NPV (pre-tax) of US$368 million and an IRR of 33 per cent.

It will sustain a long-term US$3.08 per pound copper price rate, producing pre-tax free cashflows of US$777 million, inclusive of development capital.

Payback is estimated at 3.7 years from production start with LOM All-In Sustaining costs (AISC) of US$1.56 per pound copper after deducting silver credits.

Expected development capital of US$182 million includes mine development, process plant and infrastructure.

The 342.7kt copper and 14.6 million ounce silver Ore Reserve supports an 11.5-year mine life targeting first production Q1 2021.

An average open pit mine grade of one per cent copper and 13.2g/t silver underpins LOM average annual production of around 28,000 tonnes (61mlb) copper and 1.1 million ounces silver, averaging over 30,000 tonnes (66mlb) copper in the first seven years of full production.

The high-grade concentrate that is expected to be produced at an average LOM concentrate grade of 30.4 per cent copper and 383g/t silver has already attracted strong interest from metal traders and smelters.

MOD has received written, formal Expressions of Interest from many global, top-tier debt institutions, several of which have commenced preliminary due diligence and completed site visits.

MOD is currently advancing discussions with several potential strategic parties for non-debt funding.

“The strong economics clearly demonstrate the value of this high-quality asset located within the excellent mining and investment jurisdiction of Botswana,” MOD Resources managing director Julian Hanna said in the company’s announcement to the Australian Securities Exchange.

“There are a number of outstanding operational and financial outcomes of the Feasibility Study, however several stand out when compared to other emerging global copper developers and producers.

“Firstly, the T3 project represents a relatively straightforward open pit mine and processing plant, requiring moderate capital expenditure to bring into production.

“Then, due to the very favourable geometry, grade and metallurgical characteristics of the orebody, the Feasibility Study has demonstrated that even at copper prices much lower than today’s spot price, the T3 copper project is expected to generate excellent returns.

“T3 also provides the possibility for future production expansion from other potential deposits in the surrounding area, where MOD has already demonstrated early drilling success.

“Drilling is expected to focus on this satellite potential during 2019 to take advantage of the capital invested into T3.”

 

Email: administrator@modresources.com.au

Website: www.modresources.com.au

 

Peel Mining Continues Southern Nights Festival of Hits

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) has continued its run of high-grade infill drilling results from the company’s 100 per cent-owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales.

Peel Mining is systematically progressing Resource definition drilling at Wagga Tank-Southern Nights with the aim of establishing a maiden JORC Mineral Resource Estimate it has scheduled for delivery in June 2019.

Assay results from drillhole WTRCDD199 returned:
23.1 metres at 22.54 per cent zinc, 12 per cent lead, 0.25 per cent copper, 200 grams per tonne silver and 1.42g/t gold from 224m, including 16.35m at 28.09 per cent zinc, 15.77 per cent lead, 0.26 per cent copper, 270g/t silver and 1.8g/t gold from 224.75m.

Peel explained that drillhole WTRCDD199 is located approximately 50 metres northwest of previously announced drillhole WTRCDD150 and exhibits the same high-grade tenor.

Drillhole WTRCDD189 assay results included:
9m at 19.91 per cent zinc, 9.55 per cent lead, 0.17 per cent copper, 220g/t silver and 0.36g/t gold from 336m, including 5.4m at 29.26 per cent zinc, 13.97 per cent lead, 0.22 per cent copper, 326g/t silver and 0.45g/t gold from 337.2m.

Peel said this hole had confirmed continuity between the shallower mineralisation that was previously encountered by WTRCDD150 and the deeper mineralisation in WTRCDD166, approximately 170m down dip.

WTRCDD150 returned 18.2m at 55.5 per cent zinc+lead (Zn+Pb) from 182m, and WTRCDD166 returned a high-grade section of 16.2m at 21.9 per cent Zn+Pb from 366m.

A further drillhole WTRCDD179, drilled on an infill section in the south of the Central Zone approximately 100m south of drillhole WTRCDD150, returned assay results of:
17m at 10.36 per cent zinc, 6.05 per cent lead, 0.6 per cent copper, 401g/t silver and 1.86g/t gold from 181m, including 3m at 16.67 per cent zinc, 6.78 per cent lead, 1.04 per cent copper, 437g/t silver and 0.76g/t gold and 2.9m at 30.34 per cent zinc, 18.24 per cent lead, 0.19 per cent copper, 415 g/t silver and 0.38 g/t gold from 193m.

Peel claimed WTRCDD179 confirmed continuity of high-grade mineralisation to the south increasing the strike length of the high-grade zone.

“Drilling so far has successfully defined the approximate dimensions of the high-grade mineralisation,” Peel Mining said in its ASX announcement.

“Detailed structural and geochemical studies are also underway to further develop the geological model in preparation for the maiden mineral resource estimate for completion in June.

“This work will also assist in future drill targeting of additional high-grade zones in this large mineralised system.

“It is important to note the broader mineralisation is still open in all directions, with the company primarily focused on defining the high-grade component in order to fast track any potential economic assessments and ultimately production scenarios.”

 

Email: info@peelmining.com.au

Website: www.peelmining.com.au

 

Musgrave Minerals Scores New High-Grade Gold Hit

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported regional aircore drilling at Lake Austin North has identified a new high-grade, high priority basement target for follow-up drill testing.

Musgrave Minerals said that assay results from the current regional scout aircore drilling program at the company’s Cue project in Western Australia’s Murchison district had returned noteworthy intervals of gold anomalism hosted in Archaean regolith (weathered basement rock) which commonly form as a gold geochemical halo derived from underlying basement gold mineralisation.

The company indicated that many of the aircore drill holes terminated in mineralisation providing a target for follow-up diamond drilling.

Regional aircore drill results have been received for an area north-east of A-Zone at Lake Austin North. highlighting a new extension to the D-Zone basement target.

The company believes the new target may represent a splay off the main A-Zone shear and has the potential to host high-grade basement gold mineralisation in fresh rock beneath the gold halo.

New aircore gold intercepts include:

19MOAC036
38 metres at 2.08 grams per tonne gold from 111m down hole to EOH, including 5m at 14.8g/t gold from 135m, including 1m at 65.4g/t gold from 136m;

19MOAC034
52m at 0.29g/t gold from 116m to EOH; and

19MOAC037
20m at 0.21g/t gold from 111m.

“This is another excellent result from the regional scout aircore drilling on Lake Austin and supports the company’s positive view that a large gold system is hidden below the salt lake,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This regional drilling continues to define geochemical gold ‘halos’ to focus basement drill testing, with this intercept being the highest grade intersected from aircore drilling to date.

“The goal is to define all the individual high-grade basement deposits beneath this gold halo.

“The new target is close to A-Zone where we have been conducting deeper drilling and having a rig in the area means it can be tested immediately.

“Diamond drilling will commence this week to test this new high-grade gold target.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au