Core Exploration Upgrades BP33 Lithium Mineral Resource

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THE DRILL SERGEANT: Core Exploration (ASX: CXO) released a substantial Mineral Resource upgrade for the BP33 lithium deposit at the company’s Finniss lithium project in the Northern Territory.

Core Exploration announced the Mineral Resource tonnes have grown by 51 per cent in size at BP33 to 2.15 million tonnes and the already high-grade has increased to 1.5 per cent lithium oxide (Li2O).

The company indicated the resource confidence classification has also improved to Indicated and Inferred, having previously only announced an Inferred Mineral Resource.

Core Exploration declared the increase in the size, grade and confidence of the estimate of the BP33 Resource, together with the recently announced 42 per cent increase in resources at the Grants lithium deposit, enhances the potential for the Finniss project to deliver robust returns, which the company expects to be confirmed by the current Definitive Feasibility Study (DFS).

The BP33 Lithium Mineral Resource estimate currently comprises 2.15 million tonnes at 1.5 per cent Li2O and is claimed by Core to be one of the highest-grade spodumene resources in Australia.

The global Mineral Resource for the Finniss project is now 5 million tonnes at 1.5 per cent Li2O, however Core anticipates this to grow further in coming weeks when a new Mineral Resource estimate is announced at Sandras.

Additional drilling at BP33, targeting both an increase in resource confidence and size is planned for the near future.

“The excellent results from BP33 confirm our expectations that the Finniss lithium project will have extremely robust economics,” Core Exploration managing director Stephen Biggins said in the company’s announcement to the Australian Securities Exchange.

“We look forward to publishing the DFS in late November.”

Core is in the final stages of completing a DFS for the development of a spodumene concentrate operation from the Finniss lithium project where it is targeting commencement of mining and construction mid-2019 and first production of high-quality spodumene concentrate in late 2019.

The company expects the DFS to build on strong financial outcomes highlighted in the Pre-Feasibility Study while factoring in substantially expanded Mineral Resources and longer mine life, optimised recoveries and increased grade of product as well as committed offtake and customer prepayment finance.

 

Email: info@coreexploration.com.au

Website: www.coreexploration.com.au

 

European Metals Commences Cinovec Resources Drilling

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THE DRILL SERGEANT: European Metals Holdings (ASX: EMH) has commenced resource drilling at the company’s Cinovec lithium-tin project in the Czech Republic.

European Metals reported that a total of eight resource drill holes will be completed during this campaign with the first hole already completed.

Geophysical logging of the first four geotechnical drill holes at the proposed mine portal site has been completed.

A further five geotechnical drill holes are planned once resource drilling has been completed.

The company explained that drilling is aimed at converting enough of the existing Indicated Mineral Resource to the Measured Resource category to cover the first two years of the scheduled mining plan.

“We are very pleased to have begun our DFS drilling program so soon after receiving permission for the work,” European Metals managing director Keith Coughlan said in the company’s announcement to the Australian Securities Exchange.

“This drilling campaign will provide an upgrade to the existing resource at Cinovec.

“We are excited about the acceleration in the rate of project development that has been achieved by the team in recent months.

“We look forward to soon being in a position to release the results of our lithium hydroxide, final product, option study.”

 

Website: www.europeanmet.com

 

Boss Resources Extends Honeymoon Mineralisation

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THE DRILL SERGEANT: Boss Resources (ASX: BOE) recently completed a drilling campaign at the company’s Honeymoon uranium project in South Australia.

Boss Resources conducted the drilling, concentrating on the East Kalkaroo area, located approximately three to ten kilometres from the Honeymoon uranium mine.

The work program comprised:

Step-out drilling: targeting the easternmost edge of the Honeymoon Mining Lease, with the objective of identifying extensions to the current Mineral Resource; and

Regional exploration drilling: focusing on a poorly-explored central part of Exploration Licence 5621, with the objective of identifying new areas of mineralisation for future exploration.

Boss announced the drilling identified two new zones of mineralisation in what it has interpreted to appear as channel limbs of northeast-southwest and broadly east-west orientation, respectively.

The company also carried out regional-scale, airborne electromagnetic (EM) data, which its said suggest that these limbs are extensions of the same Tertiary-aged Yarramba Palaeochannel that hosts the Honeymoon uranium deposit, making these new targets highly prospective and worthy of further exploration.

New drill intercepts of uranium (PFN results, ppm pU3O8) include:

BIF0204 from 119m GT 2,902 (3.5m at 829 ppm pU3O8);

BIF0186 from 124.75m GT 1,136 (2.0m at 568 ppm pU3O8); and

BIF0198 from 109.25m GT 1,177 (2.75m at 428 ppm pU3O8).

pU3O8 is the equivalent grade as estimated from Prompt Fission Neutron (PFN) logging.

“The results from the 2018 exploration drilling campaign provide strong justification for further exploration over the two new target areas,” Boss Resources said in its ASX announcement.

“Prior to committing to an expensive drill program, comparably low-cost surface geophysics is recommended to provide better channel definition.

“The next stage of exploration activities will therefore involve the use of the ground-based passive seismic system to map out the underlying basement topography, identifying areas of basement depression and structure as well as improving the current resolution of the known morphology of the Yarramba Palaeochannel.

“The passive seismic system is a far cheaper and proven exploration alternative to the other standard geophysical techniques, and has been used extensively within the exploration industry to successfully map out palaeochannel morphology for various projects throughout Australia.”

Boss Resources indicated it intends undertaking a small orientation survey within the Honeymoon Mining Licence to provide definitive confirmation that the passive seismic system will derive expected results.

The company will then use the resulting data to produce a depth-to-basement model, with the recent drilling utilised as calibration data.

Once the model has been produced, the geophysical method will be applied to regional areas around the tenement package.

Boss anticipates this phase of exploration to commence in the first half of 2019.

 

Email: admin@bossresources.com.au

Website: www.bossresources.com.au

 

Saturn Metals Drilling at Apollo Hill

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THE DRILL SERGEANT: Saturn Metals (ASX: STN) announced the commencement of a new phase of exploratory RC drilling at the company’s wholly owned Apollo Hill gold project, near Leonora in the Western Australian goldfields.

Saturn Metals has completed earlier drilling at the project, from which it has determined it to be a major gold and alteration system wide open for expansion

Recent drilling results from the northern end of Apollo Hill, include:

AHRC0036
10 metres at 2.98 grams per tonne gold from 92m within 28m at 1.2g/t gold from 82m.

At the southern end of the deposit drilling encountered:

AHRC0049
58m at 1.06g/t gold from 65m, including 36m at 1.39g/t gold from 87m.

Saturn Metals commenced drilling earlier this week with the intent of completing approximately 20 holes for approximately 2,500 metres in its search for additional opportunities to expand the deposit’s footprint.

The planned drilling will step out along a six-kilometre-long anomalous gold corridor and provide an initial test of the area between the Apollo and Ra zones testing multiple interpreted structures and targets.

“This program of drilling is in keeping with Saturn’s objective of growing the Apollo Hill gold system as rapidly as possible,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We have been looking forward to testing these more expansionary targets for some time and we are hopeful the results will demonstrate the greater potential at Apollo Hill.

“Our confidence in the system continues to grow.”

Saturn Metals said it anticipates announcing an update to the Apollo Hill resource in the coming weeks utilising drilling results from a drilling program completed in July that highlighted the potential to increase the scale of the known mineralised system from the current 0.5 million-ounce JORC 2012-compliant inferred gold resource of 17.2 million tonnes at 0.9 grams per tonne gold.

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Musgrave Minerals Extends Lake Austin North High-Grade Gold

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further assay results from reverse circulation (RC) basement holes drilled at the Lake Austin North prospect, north of the Break of Day gold deposit within the company’s Cue project in Western Australia’s Murchison district.

Musgrave Minerals drilled hole 18MORC057 100m south of the Lake Austin discovery hole 18MORC039, intersecting the high-grade mineralised A Zone lode approximately 135m vertically below surface.

The company said the southernmost RC drill hole returned its best result to date in the A Zone at Lake Austin North of:

18MORC057

94 metres at 2.4 grams per tonne gold from 156m to end of hole (EOH), including 52m at 4.1g/t gold from 198m to EOH, including 12m at 8.8g/t gold from 204m and 6m at 6.3g/t gold from 240m.

“Drill hole 18MORC057 has returned another thick high-grade result and delivered our best intercept to date at A Zone,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“It is the most southerly hole drilled to date testing the basement on A Zone and the results indicate the system is open to the south as well as to the north and at depth.

“Lake Austin North is proving to be a large, well mineralised system and the current diamond drilling program will aim to further outline the size and grade of this new and exciting gold discovery.”

Musgrave explained the third basement hole drilled into the C Zone (18MORC056), 450m north of previous RC drilling intersected gold mineralisation, including:

12m at 1.3g/t gold from 102m down hole within a broader zone of 30m at 0.6g/t gold from 102m.

However, due to drilling difficulties the hole was terminated early and did not reach planned depth.

Musgrave has commenced diamond drilling at Lake Austin North with first assay results expected in early December.

A regional gravity survey over newly granted tenement applications adjacent to the existing tenure at Cue is progressing with the aim of defining new gold targets for drill testing.

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

 

Azure Minerals Encounters High-Grades in Oposura Central Zone

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) intersected high-grade zinc, lead and silver mineralisation while drilling the Central Zone at the company’s 100 per cent-owned Oposura project, located in Sonora, Mexico.

Azure Minerals said it had encountered several mineralised intersections situated in the middle of the Central Zone, located more than 200 metres from the Oposura East Zone and West Zone resource boundaries.

The company considers the intersections to have confirmed potential to expand the current Oposura Mineral Resource into this previously under-explored area.

The recent drilling encountered high-grade, near-surface mineralisation in the middle of the Central Zone, including:

OPDH-173
12 metres at 7.7 per cent zinc plus lead (Zn+Pb) from 44m, including 4.1m at 12.5 per cent Zn+Pb; and

OPDH-178
9.5m at 18.9 per cent Zn+Pb from 23.05m, including 6.2m at 26.6 per cent Zn+Pb.

The drilling has also extended high-grade mineralisation from the East Zone into the Central Zone, retruning:

OPDH-159
4.8m at 19.3 per cent Zn+Pb and 122 grams per tonne silver from 107.05m;

OPDH-171
4.4m at 20.4 per cent Zn+Pb and 294g/t silver from 99.05m; and

OPDH-177
4.6m at 36.9 per cent Zn+Pb and 138g/t silver from 107.55m.

“These latest, high-grade, massive sulphide drill intersections from the sparsely drilled Central Zone confirm that this area has the potential to significantly increase Oposura’s resource base,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“They continue to build on the very positive results from the Oposura Scoping Study and confirm potential to extend the mine life and further improve the already impressive project economics.”

Azure completed additional drilling outside of the East Zone resource boundary which intersected wide zones (average true width of >4.0m) of massive sulphides containing high-grade zinc and lead mineralisation and very high silver grades, mostly >100g/t silver.

The company said these drill intercepts extended the mineralised system by more than 100m towards the west, into the Central Zone.

Acknowledging the positive results it achieved in the recent Scoping Study that identified that similar grade, near-surface mineralisation will be exploited by low-cost open pit and underground mining techniques, Azure declared these new Central Zone drill intersections are expected to increase the Mineral Resource, extend the current mine life of 5.3 years and have a very positive impact on the overall Project economics.

 

Website: www.azureminerals.com.au

 

Cassini Resources – OZ Minerals JV Hits Best Nebo Intersection

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THE DRILL SERGEANT: Cassini Resources (ASX: CZI) provided an update of Resource Infill Drilling activity at the company’s West Musgrave copper-nickel project Joint Venture with OZ Minerals (ASX: OZL) in Western Australia.

Cassini Resources and OZ Minerals are conducting the drilling as part of the West Musgrave Pre-Feasibility Study (PFS) where OZ Minerals has recently progressed through the Stage 1 Earn-in requirement of contributing $22 million to acquire a 51 per cent interest in the project.

The current activities involve three reverse circulation (RC) drill rigs that are approximately 75 per cent through a 40,000 metre program, the aim of which is to improve resource confidence and allow a maiden Reserve estimate to be published with the PFS results.

Results from drilling at Nebo have returned the best nickel intersection encountered to date at the project of:

CZC0285
58 metres at 1.3 per cent nickel, 0.61 per cent copper, 0.05 pwer cent cobalt and 0.23 grams per tonne PGE from 67m, including 23m at 2.91 per cent, 1.13 per cent copper, 0.09 per cent cobalt and 0.47g/t PGE from 88m.

Cassini declared the resource extension drilling program had been successful in targeting high-grade extensions of mineralisation on the peripheries of the current resources which may have a material impact on the development strategy.

The company reported early success in July this year from this program at the H-T Lode within the Babel deposit recording an intercept of:

CZD0077
25.6m at 0.63 per cent nickel, 1.04 per cent copper, 0.03 per cent cobalt and 0.23g/t PGE from 317.3m.

“The results to date demonstrate the robustness of the resource and the potential for further discovery,” Cassini Resources said in its ASX announcement.

“An updated Mineral Resource estimate for Nebo and Babel is due in Q1 2019.

“Following completion of the current infill drilling program, estimated to be by the end of October, a further 23,000 metres will be brought forward from the planned Stage 2 Feasibility Study (FS) program and commenced immediately.

“This will reduce the risk of FS schedule slippage while also maximising operational and logistical efficiencies through the remainder of the 2018 field season.”

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Rox Resources Encounters High-Grades at Collurabbie

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) released high-grade assay results from a recently completed diamond drilling campaign at the company’s Collurabbie nickel project, located 230km north of Laverton in Western Australia.

Rox Resources explained the overall aim of the diamond drilling program was to obtain samples of mineralisation from the Olympia deposit for metallurgical test work, and to test RC and aircore anomalies at the Olympia North prospect.

Results received from Olympia included hole CXDD004:

1.8 metres at 1.27 per cent nickel, 2.81 per cent copper, 0.09 per cent cobalt, 5.97 grams per tonne platinum and palladium (Pt+Pd) from 90.4m; and

6.05m at 1.31 per cent nickel, 1.06 per cent copper, 0.12 per cent cobalt, 2.25g/t Pt+Pd from 97.95m, including 1.9m at 2.25 per cent nickel, 2.02 per cent copper, 0.07 per cent cobalt, 3.21g/t Pt+Pd from 97.95m.

Another 2.1m interval of massive sulphides was also intersected in hole CXDD001 at Olympia from 203.2m depth.

Rox indicated the whole sample will be used for a metallurgical test, so the assay from this interval will be determined during that test work.

“These results from Olympia add to our understanding of the mineralogy and type of sulphide material present,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“With nickel, copper, cobalt and platinum group elements (Pt and Pd) all being present it is important to know the metallurgical recovery characteristics of these valuable metals.”

A further two diamond holes were drilled at the Olympia North prospect, co-funded by the Western Australian Government.

Rox noted that the target ultramafic unit seems to have thinned at depth below the aircore and RC drilling anomalies.

In hole CXDD002 immediately above the mineralised ultramafic unit, a thick porphyry unit was intersected and may be associated with potential remobilisation of nickel-copper sulphides.

Downhole electromagnetic surveys are expected to commence shortly.

Best results were:

CXDD002
0.2 metres at 0.48 per cent nickel, 0.25 per cent copper, 0.02 per cent cobalt, 0.53g/t Pt+Pd from 167.3m; and

CXDD003
0.2m at 0.91 per cent nickel, 0.81 per cent copper, 0.03 per cent cobalt, 0.62g/t Pt+Pd from 202.9m.

Current JORC 2012 Mineral Resources at Collurabbie total 573,000 tonnes at 1.6 per cent nickel, 1.2 per cent copper, 0.082 per cent cobalt and 2.3g/t Pt+Pd, for contained tonnes of 9,170 nickel, 6,880 tonnes of copper, 470 tonnes of cobalt, 42,400 ounces Pt+Pd.

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Alt Resources Produces Second Bottle Creek Resource Upgrade

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THE DRILL SERGEANT: Alt Resources (ASX: ARS) is pleased to provide an update to the Bottle Creek Mineral Resource estimate for the Emu and Southwark deposits at the company’s Bottle Creek gold project in Western Australia.

Alt Resources carried out a second round of RC drilling testing extensions to the north and south of the Emu deposit, as well as laterite-hosted mineralisation at Southwark, which has provided an additional 50,000 ounces of gold and 246,000 ounces of silver.

This brings the total for the Bottle Creek gold project to 2.6 million tonnes at 1.9 grams per tonne gold, for 160,000 ounces of gold, including 2.5 million tonnes at 10.7g/t silver for 900,000 ounces of silver.

Alt Resources had previously published the Maiden JORC Resource estimate for Bottle Creek in August 2018.

The company explained the current upgrade constitutes an expansion of its initial Bottle Creek Resource, expanding the overall inventory for the larger Mt Ida gold project, which the company said was now rapidly evolving into a promising gold hub, with multiple exploration and mining targets throughout the landholding.

In combination with existing mineral resources within the Mt Ida gold project, at the Quinns and Mt Ida South projects, Alt’s combined mineral resource Inventory now stands at 3.9 million tonnes at 2.07g/t gold, for 257,000 ounces of gold.

“We have produced this small resource upgrade at Bottle Creek with the intent to demonstrate the cost-effectiveness of resource drilling at Bottle Creek,” Alt Resources CEO James Anderson said in the company’s announcement to the Australian Securities Exchange.

“This resource upgrade has been produced from an additional 29 drill holes at a cost under $5.00 per resource ounce, and with a greatly reduced overall average cost per resource ounce down to $7.80. Bottle creek is returning around 10,000 ounces gold and 56,000 ounces silver per 100 metres of strike drilled and we have only drilled 1,600 metres of the 11 kilometres of strike to date.

“We now have a project wide global resource of 257,000 ounces gold and 900,000 ounces silver at Mt Ida and what I see as a clear pathway to reaching a critical mass through continued drilling.

“We aim to continue to build the resource over the next 12 months to a level that will warrant development of a plant at Bottle Creek.”

 

Website: www.altresources.com.au

 

Sheffield Resources Claims New Minerals Sands Discoveries

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced drilling results from regional exploration drilling at the Cold Duck, Porphyry Pearl, Cisco and Nomad prospects at the company’s Dampier mineral sands project near Derby in northern Western Australia.

Sheffield Resources explained the Cold Duck, Porphyry Pearl and Cisco prospects to be new discoveries located within 15 kilometres of the company’s world class Thunderbird deposit and near current project infrastructure.

A further prospect, Nomad, which was first drilled in 2015, is located within 5km of the proposed haul road and just 700 metres north of the Great Northern Highway.

These results follow results Sheffield recently released results from the Night Train deposit and relate to 94 aircore drill holes completed in September 2018.

The drilling is part of an extensive regional exploration program that has Sheffield targeting additional large, zircon rich deposits suitable for downstream processing at the Thunderbird project dry mineral separation plant.

Results include:

Cold Duck

DAAC131
37.5 metres at 3.56 per cent heavy minerals (HM) from 1.5m, including 16.5m at 5.49 per cent HM from 21m;

Porphyry Pearl

DAAC141
19.5m at 2.93 per cent HM from 19.5m, including 6m at 5.8 per cent HM from 21m;

Cisco

DAAC149
34.5m at 2.64 per cent HM from 58.5m, including 12m at 3.74 per cent HM from 81m; and

Nomad

DAAC119
7.5m at 5.78 per cent HM from 19.5m, including 6m at 6.94 per cent HM from 19.5m.

Sheffield Resources has now identified eight zones of mineralisation, including Thunderbird and Night Train, along a 100km long highly mineralised trend situated north of the highway and extending from Seagull in the north to Nomad in the south.

The company anticipates receiving remaining drill results from a regional exploration program at Concorde and Buckfast, located south of the highway in the coming weeks.

“The new discoveries along with the zircon-rich Night Train deposit, all located in close proximity to the company’s world class Thunderbird deposit clearly demonstrate the global significance and strategic value of Sheffield’s Dampier Mineral Sands Project,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“These discoveries add to an already exciting time for shareholders as we move forward with the development of Thunderbird, continue to progress our Night Train discovery and unlock the exploration upside of the Canning Basin mineral sands province.”

 

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au