Musgrave Minerals and Westgold to Develop Cue Project

/in , /by

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) gained a great leap forward for the company’s Cue project in the Murchison district of Western Australia.

Musgrave Minerals has signed a non-binding Term Sheet with Westgold Resources (ASX: WGX) providing a near term development pathway for the existing gold resources at Musgrave’s Cue project.

The Term Sheet outlines the terms of a Mine Management and Profit Sharing arrangement, under which Musgrave can receive 50 per cent of profits from operations that would be financed, managed and operated by Westgold.

Musgrave explained the Term Sheet is non-binding and provides the scope on which a formal Mine Management and Profit Sharing Agreement can be negotiated.

The arrangement would be restricted to the existing JORC-compliant gold resources Musgrave has already established at the Lena, Break of Day, Jasper Queen, Gilt Edge and Rapier South deposits on its 100 per cent-owned tenements at Cue.

Musgrave would retain 100 per cent of the exploration interests and upside outside of the defined resources.

“This outcome reduces the technical and capital risk for Musgrave and provides the potential for a near term development option for the company,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“We welcome the opportunity to partner with Westgold, an experienced gold mining company with strong technical capabilities, equipment and operating mills in the region.

“Musgrave would retain a 100 per cent interest in all the exploration upside and the potential development is expected to generate positive cashflow that can be utilised to fund exploration, resource growth and discovery for the benefit of Musgrave shareholders.

“The relationship would also enable Musgrave to focus on its exploration strengths and accelerate our drilling programs across a range of high-grade targets including Lake Austin North.”

 

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au

 

Saturn Metals Strikes Visible Gold Hits in First Drill Hole

/in , /by

THE DRILL SERGEANT: Saturn Metals (ASX: STN) reported visible gold in the first diamond tail completed by the company at its Apollo Hill gold project near Leonora in the West Australian goldfields.

Saturn Metals said the visible gold was supported by a 3D X-ray scan of a 20-metre section of core from the diamond tail, AHRCD0016, using Swick Mining Services’ Orexplore GeoCore X10 core scanning technology showing the presence of additional interpreted gold grains.

Using the Orexplore technology, interpreted gold grains were scanned at 181.7m, 184.21m, 184.45m 197.2m and 201.25m, giving gold indications over the entire 20m section of AHRCD0016 core.

Saturn has submitted the whole drill core to the laboratory for assay to ensure all gold grains are captured in the analysis.

The company explained that AHRCD0016 is the first of a nine-hole diamond drilling program completed in June to test for higher grade plunging shoots (including the Armstrong and Eagle Shoots) within the current Apollo Hill 0.505 million ounce JORC 2012 Inferred Resource of 17.2 million tonnes at 0.9g/t gold.

“We are extremely pleased with the unusually high number of gold indications we have seen in the AHRCD0016 core so far,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“We look forward to reporting the assay results for this hole, and the other eight holes in the coming weeks.

“The GeoCore X10 scan has provided us with additional confidence in our interpretations, some timely geological targeting information for the start of our upcoming RC program and a great data set for the deposits apparently simple metallurgical development.”

 

Email: info@saturnmetals.com.au

Website: www.saturnmetals.com.au

 

Alto Metals Claims New Vanguard Gold Mineralisation

/in , /by

THE DRILL SERGEANT: Alto Metals (ASX: AME) claimed discovery of gold mineralised systems at the Vanguard deposit on the company’s Sandstone gold project in Western Australia.

Alto Metals received 50 gram metre fire assays of four metre composite aircore samples taken from 35 AC holes drilled on the periphery of the Vanguard deposit.

According to the company, ten of these ‘extension holes’ intersected shallow intersections of plus-0.5 grams per tonne gold.

Assay highlights include:

SAC206
20 metres at 1.4 grams per tonne gold from 40m; and

SAC214
12m at 2.5g/t gold from 0m and 9m at 4.0g/t gold from 60m.

Alto interpreted these new gold results as further evidence the Vanguard system is robust and open and justifies the current aircore drill program to test and expand the footprint of the Vanguard gold deposit.

“Between 26 May and 25 June 2018, Alto completed 253 infill and/or extensional aircore drill holes for a total of 12,175 metres over ten high priority prospect areas at Sandstone,” Alto Metals managing director Dermot Ryan said in the company’s announcement to the Australian Securities Exchange.

“Approximately half of these holes and half of the metres were drilled around Vanguard and between Vanguard and Vanguard North.

“This first batch of four-metre composite assays now received from 35 holes around Vanguard are highly encouraging, and they add two more mineralised structures to the three mineralised structures previously defined by Alto.

“We are looking forward to the assay results of the outstanding 118 Vanguard AC holes over the next four to five weeks, which will potentially define further mineralized structures.”

 

Email: admin@altometals.com.au

Website: www.altometals.com.au

 

Metalicity Defines New Lithium Targets

/in , /by

THE DRILL SERGEANT: Metalicity (ASX: MCT) has identified further lithium targets at the company’s 100 per cent-owned Pilgangoora North lithium project located in the Pilbara Region of Western Australia.

Metalicity reported on recent field work, from which it identified two lithium target areas to advance additional field work and potential drilling at the Pilgangoora North lithium project, located approximately nine kilometres north of the world class Pilgangoora group of lithium deposits currently being developed by Pilbara Minerals (ASX: PLS) and Altura Mining (ASX: AJM).

Metalicity completed preliminary mapping, satellite imagery interpretation and rock ship sampling to define a series of pegmatites over a 10km trend.

The recent reconnaissance mapping and rock chip sampling, combined with the earlier rock chip sampling results, has identified priority target areas for further work.

“The exploration program has confirmed the likely source granite for many of the pegmatites with rare-element geochemical signatures present within the Pilgangoora North tenements and has provided additional information which supports the two priority target areas (PN 2 and PN 3) in which to focus further exploration activity for lithium bearing pegmatites,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

 

Website: www.metalicity.com.au

 

Impact Minerals Following Silica Hill Mineralisation

/in , /by

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has commenced a new round of drilling at the company’s 100 per cent-owned Commonwealth project north of Orange in New South Wales.

Impact Minerals is carrying out follow up diamond drill program to test the depth extent of high-grade gold and silver mineralisation at the Silica Hill prospect

The drill holes are targeted at the down dip and down plunge extension of the southern and northen mineralised zones that company identified either side of a recently identified porphyry unit within the Silica Hill rhyolite.

The company outlined the southern mineralised structure has good grade and geological continuity over a strike extent of at least 150 metres and recently returned high-grade gold and very high-grade silver results within the north west trendng part of the zone.

The lower-grade northern mineralised zone also demonstrates continuity and recently returned its thickest zone of mineralisation to date, which Impact has interpreted to suggest that, similar to the southern zone, lower-grade mineralisation is increasing in thickness and grade at depth and also to the east.

Impact declared the Silica Hill results continue to demonstrate the potential for bulk mining and to increase the Resources at the Commonwealth project, which currently stand at 720,000 tonnes at 2.8 grams per tonne gold, 48g/t silver, 1.5 per cent zinc and 0.6 per cent lead.

“The recently identified porphyry unit within the Silica Hill rhyolite is similar in composition to the porphyry unit at the Commonwealth deposit 150 metres to the west which comprises a gold-silver rich base metal massive sulphide lens and veins and disseminations of gold and silver mineralisation,” Impact Minerals said in its ASX announcement.

“This suggests a common link between the two mineralised areas and importantly indicates that this new porphyry unit could be the top of a pipe or sheet like feature that extends to some depth.”

 

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

 

BCI Minerals Releases Maiden Kumina Resource

/in , /by

THE DRILL SERGEANT: BCI Minerals (ASX: BCI) released a maiden JORC Mineral Resource estimate for the company’s Kumina tenements in northwest Western Australia, comprising estimates for deposits A, E and J.

BCI Minerals’ Kumina tenements comprise three granted exploration licences covering an area of approximately 480 square kilometres and are located approximately 100km south of Karratha and 50km north-east of the company’s Bungaroo South deposit.

The tenements host numerous channel iron deposit (CID) targets and higher grade bedded iron deposit (BID) targets with associated detrital iron deposit (DID) mineralisation.

The Mineral Resource estimates were completed at Kumina A (Channel Iron Deposit – CID), E and J (both Bedded and Detrital Deposits – BID and DID).

Calculations resulted in an Inferred Mineral Resource of 78.3 million tonnes at 59.1 per cent iron at a 57 per cent iron cut-off, or 115.2 million tonnes at 58 per cent iron at a 53 per cent iron cut-off.

“Proving up three deposits at Kumina to Resource status within nine months of acquisition is a positive result, particularly given these ‘forgotten’ tenements came with zero exploration information when acquired in late 2017,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.

“We now have a very promising group of deposits, including a significant tonnage of bedded iron mineralisation with a grade of greater than 59 per cent iron and relatively low impurities, providing a credible ore source in the current iron ore market environment.

“Kumina also has substantial exploration upside, with many prospective targets remaining untested, and we see it as an attractive standalone development opportunity.

“The Kumina resource quality is equal or better than many ore sources from the central Pilbara area, and the distance by existing road from Kumina to Port Hedland is shorter than the distance from our Iron Valley tenement (an operating mine) to Port Hedland, making profitable trucking or rail solutions possible.”

 

Email: info@bciminerals.com.au

Website: www.bciminerals.com.au

 

Cassini Resources Intercepts Massive Sulphides at Yappsu

/in , /by

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a ‘significant’ intersection of massive sulphide mineralisation at the Yappsu prospect within the West Musgrave Project (WMP) in Western Australia.

Cassini Resources is conducting the current drilling as part of an Earn-in/JV Agreement with OZ Minerals Limited (ASX: OZL).

The JV Partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits as well as a regional exploration program.

Diamond drillhole CZD0076B undertaken at Yappsu was designed to test two distinct ‘off-hole’ DHEM conductors identified from historical drilling.

The hole intersected 6.2 metres of massive sulphide corresponding with an area known as the upper ‘C’ conductor.

Cassini Resources said visual observations have identified pentlandite (nickel sulphide), chalcopyrite (copper sulphide) and pyrrhotite (barren iron sulphide) from 426.1m downhole.

A lower zone measuring over 60m wide, of disseminated and stringer sulphide mineralisation (varying from 5 to 20 per cent total sulphide) and also containing nickel and copper mineralisation was intersected below the massive sulphide.

The company explained this zone corresponds with another area – the ‘B’ conductor.

“Exploration at the prospect is at an early stage and at present mineralisation appears open in all directions,” Cassini Resources said in its ASX announcement

“The intersection is the thickest massive sulphide mineralisation drilled at the prospect to date.

“The hole is continuing through the barren footwall to a proposed depth of 600 metres to provide a suitable platform for DHEM.

“The drill core is currently being logged and cut on site before samples are expedited through the assay laboratory (along with samples from CZD0077 at the H-T Lode as announced on 21 June 2018) in Perth.”

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Alliance Resources Encouraged by Preliminary Gundockerta South Aircore

/in , /by

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) received preliminary gold results from aircore drilling at the company’s Gundockerta South project, located 72 kilometres east of Kalgoorlie in Western Australia.

Alliance Resources completed a 66 hole aircore drilling program over the northern part of the target zone at the Gundockerta South project, which it considers prospective for greenstone-hosted orogenic gold deposits.

A total of 3,007 metres was drilled to test for low-level gold in regolith beneath a large zone of sporadic gold in soil anomalism.

Alliance said all holes were drilled vertically on a 160 metre by 640 metre spaced grid and the average depth of drilling was 46m.

Preliminary gold assays based on 4m composite scoop samples have been received for all holes, with two holes returning anomalous results, as follows:

GSAC016
4 metres at 0.15 grams per tonne gold from 0m; and

GSAC062
4m at 0.31g/t gold from 8m.

Alliance explained GSA016 is associated with transported cover and siliceous duricrust over strongly carbonate altered mafic and GSA062 is associated with upper saprolite over deeply weathered mafic saprock.

“These results definitely warrant follow up,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“The drilling grid is very wide spaced and both intercepts are open in at least one direction.”

The company outlined work for the coming financial year to include confirming the intercepts by submitting the one-metre samples for assay and conducting the next phase of aircore drilling over the southern part of the target zone and infill drilling of these anomalous results.

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Alto Metals Defines ‘Superb’ Anomaly at Sandstone

/in , /by

THE DRILL SERGEANT: Alto Metals (ASX: AME) announced that soil sampling has located a strong linear gold-in-soil anomaly approximately 12 kilometres south of the Sandstone township in Western Australia.

Alto Metals said assays from 24 samples out of a total of 74 samples collected in the vicinity of a geophysical target approximately 12km south of Sandstone have defined a 1,500 metres-long, south-east striking gold in soil anomaly of plus-7ppb gold.

The maximum value was 228ppb gold, and 13 samples returned over 15ppb gold.

Alto said the assayed gold in soil anomaly, now known as the Superb Anomaly, lies in an area of iron rich duricrust (or laterite).

“It is not known at this stage whether the gold in the soil is representative of a primary gold source at depth or is alluvial in nature (ie. transported),” Alto Metals said in its ASX announcement.

“Further soil sampling is required to determine the extent of the gold in soil anomaly which is open to the south east.”

The company has lodged a Program of Work (PoW) for Aircore drilling with the Department of Mines, Industry and Safety but approval is yet to be granted.

 

Email: admin@altometals.com.au

Website: www.altometals.com.au

 

Alloy Resources Drills High-Grade RC Gold Results

/in , /by

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) has recently completed exploration drilling activities at the Horse Well gold project Joint Venture.

Alloy Resources Horse Well JV (Alloy 51%: Doray Minerals Limited 49%) is located in the north-east goldfields of Western Australia adjacent to Northern Star’s Limited’s Jundee Gold Mine.

Alloy is currently sole funding exploration to earn up to 60 per cent in the Joint Venture.

A program totalling fourteen holes for 1,877 metres were completed at Warmblood, Filly SW and Dusk til Dawn prospects with the aim to test concepts for extensions and orientations of higher grade zones within known mineralised areas.

The RC drilling conducted at Warmblood confirmed high-grade shoot development at depth, returning:

AHWR 068
14 metres at 8.38 grams per tonne gold from 57 metres downhole (mdh), including 4m at 20.08g/t gold from 67 mdh and 3m at 10.05g/t gold from 89 mdh; and

AHWR 069
15m at 5.34g/t gold from 83 mdh, including 7m at 10.25g/t gold from 85 mdh.

The drilling also confirmed a northern extension to the high-grade Filly SW zone, including:

1m at 18.15g/t gold from 61 mdh.

The one-kilometre long Warmblood–Filly SW mineralised zone is open to the north and south and at depth.

At Filly SW there is a defined Inferred Mineral Resource of 85,000 tonnes at 8.24g/t gold.

Mineralisation was not closed off to the north where historic air-core drilling had intersected 4m at 43.6g/t gold and not been followed up.

Five RC holes, ACDR011-015, were drilled for 1,183m and 776 samples at the Dusk til Dawn prospect in the northern part of the Horse Well JV project.

Alloy Resources explained the results did not confirmed the concept of the target being a potential high-grade mineralised structure and further review is required to define the controls on higher grade gold mineralisation.

“The results at Warmblood and Filly SW confirm that the Horse Well JV area has potential for high grade gold mineralisation, and that this can occur over extensive strike lengths,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“Our interpretation suggests the mineralisation style can be narrow and in ‘poddy’ very high-grade shoots related to the Celia Shear system and needs tight targeted drilling.

“Within the project The Celia Shear has numerous prospects from soil anomalies to drill anomalies that demonstrates the significant exploration potential over a 60-kilometre strike length.”

 

Email: info@alloyres.com

Website: www.alloyres.com