Stavely Minerals Encounters Second Thick Bornite Zone

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THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) update the market on progress of a diamond drill hole currently underway at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project, in Western Victoria.

Stavely Minerals reported the hole had encountered a second substantial zone of visual copper sulphide mineralisation including an interval containing bonanza bornite mineralisation.

Stavely previously reported an intersection from drill hole SMD044 at Thursday’s Gossan of a broad zone of copper sulphide mineralisation from 584 metres to 697m down-hole.

The new interval is from 890m to 938m and contains semi-massive and vein pyrite with bornite-chalcocite stringers and disseminations.

The latest result follows the earlier 110-metre intercept of chalcopyrite-bornite mineralisation and, based on visual inspection of the core by experienced Stavely geologists, has outdone the previous interval to be the best visual intercept returned from the project to date.

“The second, deeper zone of visual mineralisation encountered in the latest drill hole represents another exciting breakthrough for the company’s exploration team in its search for the core of the porphyry system at Thursday’s Gossan,” Stavely Minerals executive chairman Chris Cairns said in the company’s announcement to the Australian Securities Exchange.

“Hot on the heels of the 110-metre intercept of chalcopyrite-bornite copper mineralisation we announced last week, this is some outrageously good looking bornite-chalcocite copper mineralisation.

“Importantly, we are confident that this assemblage is clearly hotter and is likely proximal to the porphyry we are after.

“We believe that these two well-mineralised structures converge to the south and that will be the target for our next drill hole – which, after a small ‘wedge’ hole to get another intercept to confirm the orientation of the mineralisation, we hope to commence in early March.”

 

Email: info@stavely.com.au

Website: www.stavely.com.au

 

Antipa Minerals to Kick Off 2019 Greenfields Exploration

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THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) indicated its intention to commence drilling as part of an ongoing exploration program on the company’s Paterson Province projects in Western Australia.

Antipa Minerals declared its objective is to aggressively advance multiple exploration and development opportunities across the company’s 100 per cent-owned North Telfer and Paterson projects, which are close to both Newcrest Mining’s Telfer gold mine and Rio Tinto’s Winu discovery.

“We are pleased to confirm that drill testing of the company’s exciting greenfields geophysical targets is on track to commence in early April,” Antipa Minerals managing director Roger Mason said in the company’s announcement to the Australian Securities Exchange.

“This new breed of targets, concealed beneath shallow cover, were generated during our 2018 expanded greenfields exploration program via state-of-the-art geophysical survey techniques.

“The 2018 AEM and 2019 aeromagnetic targets will be systematically evaluated this year with the aim of making a world-class discovery in Western Australia’s underexplored Paterson Province.”

Antipa’s first phase of the 2019 exploration program will consists of Air Core and slim-line Reverse Circulation (RC) drilling, testing up to 25 greenfields geophysical targets and one brownfield prospect.

The greenfield program will focus on the El Paso corridor, which extends for approximately 40 kilometres on Antipa’s Citadel Project Joint Venture with Rio Tinto and 100 kilometres on the company’s 100 per cent-owned ground.

The objective of this program is the discovery of large-scale gold and/or copper deposits.

Antipa evaluated historic data during 2018 that identified several high-priority brownfields prospects.

The first phase of Antipa’s 2019 greenfield exploration plan includes Air Core and slimline RC drill testing of the Turkey Farm prospect, located just one kilometre west of the Chicken Ranch deposit, and surface geochemical sampling and geological mapping programs focussed on the Pajero and Triangle brownfield target areas.

 

Website: www.antipaminerals.com.au

 

Cassini Resources Confirms Potential of Succoth Deposit

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced results from recent drilling at the Succoth deposit, situated within the West Musgrave Project in Western Australia.

Cassini Resources is developing the WMP with its Joint Venture partner OZ Minerals.

The JV partners are currently undertaking a Prefeasibility Study (PFS) on the project’s Nebo-Babel deposits as well as a regional exploration program.

The Succoth deposit is a large, Inferred copper resource of 156 million tonnes at 0.6 per cent copper, located only 13km northeast of Nebo the JV believes could benefit to the project by providing additional mineralisation to a future mining operation at Nebo-Babel.

Cassini reported the recent results have confirmed thick zones of copper mineralisation that support a favourable, folded mineralisation geometry, with significant implications for future resource updates and mining evaluation.

Drilling has also provided further evidence of a proximal source of nickel sulphide mineralisation.

Three diamond drill holes were completed in late 2018, infilling a strategic section critical to resolving the folded stratigraphy model hypothesis.

Results from the program included:

CZD0096
76.3 metres at 0.71 per cent copper and 0.17g/t platinum group elements (PGE) from 46.7m;

CZD0097
92.55m at 0.75 per cent copper and 0.19g/t PGE from 271.45m;

Cassini highlighted an intersection encountered within CZD0097 of 0.25m of re-mobilised massive sulphide within a dolerite dyke grading 3.17 per cent nickel, 1.41 per cent copper and 0.22 per cent cobalt; and

CZD0098
141.3m at 0.5 per cent copper and 0.11g/t PGE from 431.5m.

“The importance of these results goes well beyond the assays themselves,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“They support a favourable geological interpretation that has significant potential benefit for the scale of the resource at Succoth, its amenability to open pit mining and our goal of building a multi-decade mining operation in the West Musgrave.

“The perseverance of our geological team is successfully unlocking the potential of Succoth and we look forward to further drilling success in 2019.”

The JV considers the Succoth deposit presents future optionality on copper with likely low capital intensity development costs that may support a multi-decade project in the region.

Cassini indicated a second infill section requiring approximately 2,000m of drilling will be undertaken to confirm a folded geological interpretation that has been identified that extends along strike.

Site works have already been completed and drilling will commence early in the 2019 field program.

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Saturn Metals Resumes Apollo Hill Resource Drilling

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) is back out on the ground having resumed resource extension and infill drilling at the company’s 100 per cent-owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals is undertaking a new program of up to 3,600 metres of reverse circulation (RC) drilling at Apollo Hill as it looks to rapidly grow the project’s Mineral Resource, which currently stands at 20.7 million tonnes grading 1 gram per tonne gold for 685,000 ounces.

This round of drilling follows broad-spaced step-out drilling the company carried out last year that confirmed the continuation of the Apollo Hill system, to the north and south.

The company explained the new program will seek to infill these corridors of mineralisation.

“Significant potential exists to find higher grade zones between the step-out intersections reported in December last year and the northern and southern ends of the current Apollo Hill resource envelope,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“That is what particularly excites us about this new program.”

Saturn indicated it would provide further information from the resource extension drilling and the regional aircore program that is taking place concurrently at Apollo Hill as results are received and analysed.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Australian Mines Increases Sconi Project Mineral Resource

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THE DRILL SERGEANT: Australian Mines (ASX: AUZ) released an updated Mineral Resource estimate for the company’s 100 per cent-owned Sconi cobalt-nickel-scandium project in North Queensland.

Australian Mines said it anticipated the new Mineral Resource estimation to result in substantial flow-through benefits to the project’s overall development economics.

A recent expansion drilling program delineated consistent high-grade nickel and cobalt zones across the project area, with some assays from the program exceeding previous results.

The Greenvale nickel deposit’s in-situ material now stands at 24.4 million tonnes, up 63.2 per cent from 14.95 million tonnes in the previous estimate with the adjacent Lucknow deposit now at 14.62 million tonnes, up 94.6 per cent from 7.51 million tonnes previously.

The two deposits, combined with the Kokomo deposit, take the project’s total to 75.71 million tonnes at 0.6 per cent nickel, 0.08 per cent cobalt (0.83 per cent nickel equivalent) for 455,579 tonnes nickel, 57,157 tonnes cobalt (627,945 tones nickel equivalent).

“This Mineral Resource update for the Sconi project is a major boost for the company’s development plans, as we head towards our target of first construction activities at Sconi later this year, pending a final investment decision on the project,” Australian Mines managing director Benjamin Bell said in the company’s announcement to the Australian Securities Exchange.

“With an updated Mineral Resource, Australian Mines is positioned to become a significant cobalt, nickel and scandium supplier through the Sconi project – a project that has already shown to be commercially viable via the November 2018 Bankable Feasibility Study.

“This updated Mineral Resource is likely to further enhance the economics of the project, and in turn provide additional long-term benefits for our investors and off-take partner.

“The fact we have managed to almost double the Resource tonnage at the Lucknow deposit, which will be our initial primary source of cobalt production and added significant tonnes at the previously-mined Greenvale deposit is testimony to the world-class nature of the Sconi project, as well as the scale and grade of the mineralisation contained within our broader tenement package.”

 

Email: info@australianmines.com.au

Website: www.australianmines.com.au

 

Antipa Minerals Identifies Havieron Lookalikes

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THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) reported news from ongoing exploration at the company’s 100 per cent-owned North Telfer and Paterson projects which are both close to Newcrest Mining’s Telfer gold mine and Rio Tinto’s Winu discovery in Western Australia.

Antipa Minerals recently expanded its greenfield exploration program to include a high-resolution aeromagnetic survey covering a total strike length of 60 kilometres and a combined area of 260 square kilometres.

The company explained its objective was to both refine existing, and also define new, magnetic high anomalies with potential to represent semi-massive to massive sulphides associated with gold and/or copper mineralisation, including Havieron deposit lookalikes.

The Havieron deposit is an aeromagnetic anomaly discovered by Newcrest in 1991 that Antipa described as ‘visible sitting under 430 metres of cover

Antipa claimed its December aeromagnetic survey identified several Havieron lookalike targets.

“We are pleased to confirm that the recent aeromagnetic survey, completed during December as part of our expanded greenfields exploration program, has identified several Havieron gold-copper deposit lookalike magnetic anomalies,” Antipa Minerals managing director Roger Mason said in the company’s announcement to the Australian Securities Exchange.

“These aeromagnetic targets along with the AEM targets identified in 2018 will be systematically evaluated this year with the aim of making a world-class discovery in Western Australia’s under explored Paterson Province.”

Aerial Electromagnetic (AEM) and aeromagnetics have played pivotal discovery roles in the Paterson Province, and are considered by Antipa as effective geophysical exploration techniques for revealing gold and/or copper deposits concealed beneath barren cover in the region.

 

Website: www.antipaminerals.com.au

 

Galan Lithium Claims Argentina Lithium Discovery

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) claimed a new lithium discovery based on results from the first samples taken from the maiden drillhole (C‐01‐19) at the company’s Candelas lithium brine project in Argentina.

Galan Lithium indicated the ongoing drillhole is currently at 354 metres having encountered a substantial intercept of brine from depths of approximately 235m to 354m within coarse clastic sediments to 311m and fractured basement lithologies from 311m to 354m.

The exploration program is being led by the company’s chief geologist, Francisco Lopez, with onsite QA/QC control and technical support provided by Camilo de los Hoyos from SRK Consulting (Argentina) a specialist in hydrogeology and in the exploration of lithium brines.

Hoyos declared the initial results as exceptional, adding they confirm the presence of high‐grade lithium bearing brines within a geological setting unique to the Hombre Muerto salar.

“Preliminary field measurements and laboratory analyses on brine suggests that the Candelas project has the potential to become a world‐class soluble lithium deposit hosted in a unique geological setting,” Hoyos said in Galan Lithium’s announcement to the Australian Securities Exchange.

“Further results from exploration must be assessed step by step to define matrix specific yield and hydraulic conductivity, brine quality and aquifer geometry.”

Acknowledging that the exploration is in its early days, the company said it was greatly encouraged by this initial success and now awaits confirmation of these results from further samples and testing.

Galan will aim to fast track the exploration at Candelas with the goal of targeting a resource as soon as practicable.

Th e current maiden drill program is planned to comprise five holes drilled along the approximate 15-kilometre extent of the Candelas channel.

“To encounter lithium grades of this tenor with low impurities in our first hole is remarkable and has given us further encouragement that the Candelas project has the potential to host a significant resource of lithium bearing brines,” Galan Lithium managing director Juan Pablo Vargas de la Vega said.

 

Website: www.galanlithium.com.au

 

Gold Road Updates Gruyere Resources and Reserves

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) released its annual Mineral Resource and Ore Reserve statement as at December 2018.

Gold Road Resources made the point that all Resources and Ore Reserves are currently located within the Gruyere Project Joint Venture tenements.

The Gruyere JV is a 50:50 JV managed by Gruyere Mining Company Pty Ltd, a member of the Gold Fields Limited group.

Gold Road, on behalf of the Gruyere JV, manages all exploration activities and resource development to pre‐feasibility completion on the JV tenements other than the Gruyere gold project.

The company explained the Ore Reserve is derived from Gruyere, and the Golden Highway deposits which include Attila, Alaric, Argos and Montagne, all of which are in the Gruyere JV.

The Gruyere estimate is based on ongoing operational studies, while the Golden Highway estimate is based on Pre‐feasibility Studies (PFS) completed by Gold Road.

The Ore Reserve totals 97.2 million tonnes at 1.25 grams per tonne gold for 3.92 million ounces of gold.

Ore Reserves are reported on a 100 per cent basis at a $1,600 per ounce gold price (US$1,200 at US$0.75:A$1.00).

The Ore Reserve increased by 176,000 ounces (+5%) from the previous Ore Reserve at December 2017.

The Mineral Resource is derived from the Gruyere deposit, the Golden Highway deposits, YAM14 and Central Bore, all of which are in the Gruyere JV.

As at December 2018, the Mineral Resource is 155.37 million tonnes at 1.32g/t gold for 6.61 million ounces, an increase of 2 per cent from the Mineral Resource reported at December 2017.

Mineral Resources are reported on a 100 per cent basis and are constrained within optimised pit shells or underground stope shapes based on a $1,850 per ounce gold price and deposit‐specific modifying factors and cut‐off grades.

The Gruyere Mineral Resource decreased by 1.7 per cent to 139.56 million tonnes at 1.29g/t gold for 5.78 million ounces due to changes to the geology model and estimation methodology.

“Positive exploration results and excellent technical work by the Gold Road exploration and Gruyere JV operational teams has increased the reserve by five per cent to almost four million ounces, including the Maiden Ore Reserve additions on the Golden Highway,” Gold Road Resources managing director and CEO Duncan Gibbs said in the company’s announcement to the Australian Securities Exchange.

“Encouragingly the Golden Highway Mineral Resource increased by 17 per cent to almost 700,000 ounces, and the addition of a robust high‐grade underground resource at Central Bore increases the mineralisation options available to the Gruyere JV.

“The increased reserve grade and ounces has the potential to add further value to the recently updated Gruyere Mine Plan.”

 

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

 

Riversgold Identifies New Targets at Ella Prospect

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THE DRILL SERGEANT: Riversgold (ASX: RGL) identified new drill targets from a review of historic drilling data surrounding the company’s recently announced Western Australia gold discoveries at Farr-Jones, Eales and Little.

Riversgold has identified added drill targets at the Ella prospect, approximately 4.5 kilometres north of Farr-Jones.

The Ella prospect is located immediately south of the Transline access road and approximately 2.5km north of the Little prospect, where Riversgold recently intersected 12 metres at 1.9 grams per tonne gold, including 8m at 2.8g/t gold in the first drilling of this target.

Riversgold explained that as with the Farr-Jones prospect, Ella is hosted in clastic sediments to the east of the Randall Fault and was previously drilled in 1990-92 by Mt Martin Gold Mines, as part of a wider campaign testing several soil anomalies generated over what was then known as the Gundockerta project.

The drilling intersected anomalous gold over a strike length of approximately 1,200m and down to a depth of approximately 80m below surface.

The east dipping mineralisation remains open at depth on several sections and no subsequent work has been completed since 1992.

“The historical results gained more prominence since the discovery of new gold mineralisation by the company at the North Farr-Jones, Eales and Little targets, all generated from soil sampling conducted by Riversgold during 2018,” Riversgold managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“These historical drilling results are similar to what we have been seeing in our recent aircore drilling and have never been followed up with any systematic deeper drilling.

“Given the discovery of high-grade gold mineralisation in deeper RC drilling at Farr-Jones, the potential for additional high-grade gold deposits along this emerging 7km long trend is significant.”

Riversgold indicated it is planning further drilling along the Farr-Jones corridor, following completion of the lake drilling campaign at Queen Lapage, and has submitted a POW application for drilling at Ella.

On the back of what it has seen from drilling beneath soil anomalies within the Farr-Jones project so far, the company will also extend its recently completed soil survey to the north, south and east.

 

Email: info@riversgold.com.au

Website: www.riversgold.com.au

 

Corazon Mining Makes Metallurgical Breakthrough at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared a major technical breakthrough from initial metallurgical testwork completed at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining said the initial results from the metallurgical testwork program at Lynn Lake were exceptional and, for the first time, have delivered separate high-value nickel and copper concentrates.

The results include:

New nickel concentrate with a grade of 26 per cent nickel with recoveries of 71 per cent; and

New copper concentrate with a grade of 27 per cent copper with recoveries of 77 per cent.

The company explained these results have not been fully optimised and that it expects on-going work will deliver further improvements.

“This significant technical breakthrough represents an important step in Corazon’s development pathway for Lynn Lake,” Corazon Mining said in its ASX announcement.

“It supports the production and dispatch of separate copper and nickel concentrates from site to smelters and removes the need for potentially costly secondary processing from a bulk (nickel-copper) concentrate onsite.”

Corazon has testwork underway focused on ore characterisation, flotation and product definition for down-stream processing and is designed to provide key data for future mining and development studies for the possible re-commencement of mining at Lynn Lake.

The recent testwork demonstrated nickel and cobalt are captured together in the flotation process and separated from the copper sulphides.

The nickel concentrate does contain a small amount of copper and the copper concentrate retains a small amount of nickel, as such, Corazon’s on-going work aims to determine how much the recoveries can be improved while maintaining high concentrate grades.

 

Email: info@corazonmining.com.au

Website: www.corazonmining.com.au