Magmatic Resources Confirms High-grade Gold Target at Bodangora

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THE DRILL SERGEANT: Magmatic Resources (ASX: MAG) announced results of recent rock chip sampling and mapping carried out at the company’s Bodangora gold target in the East Lachlan province in central New South Wales.

Magmatic Resources recovered 19 samples over the area, from which a best result of 92.8 grams per tonne gold, 74g/t silver, and 1.2 per cent copper was returned from a laminated, chalcopyrite-bearing quartz vein from mine spoil at Dicks Reward mine.

The company said it expected these distinct lode styles to be repeated under shallow cover at Bodangora South.

Magmatic has developed an exploration model which will target these lodes in Ordovician stratigraphy above the faulted Ordovician-Silurian contact.

The recently-gathered rock chips were collected along sub-cropping quartz reefs and from float along the interpreted continuation of the reefs under thin cover.

“This is a fantastic result and shows the high-grade nature of the veins at Bodangora,” Magmatic Resources managing director David Richardson said in the company’s announcement to the Australian Securities Exchange.

“These results confirm our exploration strategy at Wellington North of targeting this area for potential veins under shallow cover.

“If the area was in WA’s Yilgarn and was one to two kilometres along strike from a plus 230,000-ounce historic production centre, the area would have already been hammered with drill holes.

“We are of course very enthusiastic about the 92.8 grams per tonne gold hit in particular, which gives us great confidence for immediate follow up exploration.”

 

Email: info@magmaticresources.com

Website: www.magmaticresources.com

 

BCI Minerals Confirms Kumina E Iron Ore Discovery

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THE DRILL SERGEANT: BCI Minerals (ASX: BCI) claimed that recent drilling at the company’s Kumina tenements have confirmed the discovery of a high-grade iron ore deposit.

BCI Minerals made the claim based on initial assay results from drilling undertaken on the Kumina E target, part of the Kumina tenements comprising three granted exploration licences located approximately 100 kilometres south of Karratha and 50km north-east of BCI’s Bungaroo South deposit.

The company acquired the highly prospective tenements in September 2017, which have had minimal previous exploration.

BCI considers the tenements to have the potential to host iron ore deposits.

Iron ore deposits discovered at Kumina are intended to become part of BCI’s Buckland project, where the company is targeting a 15 to 20 million tonnes per annum operation for 15 years from Bungaroo South and Kumina for export through its proposed Cape Preston East Port.

A 300-hole Stage 2 drilling program is well advanced, with more than 200 holes completed.

Assays from first 37 holes at Kumina E returned results that confirmed the presence of high-grade iron ore, including:

KRC0100
40 metres at 62 per cent iron from surface;

KRC0068
34m at 60.3 per cent iron from surface;

KRC0069
32m at 59.9 per cent iron from surface, including 10m at 62.1 per cent iron from surface;

KRC0106
30m at 59.9 per cent iron from surface, including 6m at 63.3 per cent iron from surface;

KRC0120
22m at 61.9 per cent iron from surface, including 10m at 64.4 per cent iron from 10m;

KRC0087
20m at 64.4 per cent iron from surface, including 6m at 66.1 per cent iron from 4m; and

KRC0088
18m at 62.4 per cent iron from surface, including 12m at 64.2 per cent iron from 4m.

“These positive drilling results support our view that the Kumina tenements potentially host a meaningful tonnage of high-grade bedded iron ore mineralisation,” BCI Minerals managing director Alwyn Vorster said in the company’s announcement to the Australian Securities Exchange.

“This could transform the overall Buckland Iron Ore Project and also provides options to consider a standalone Kumina operation with higher quality products.”

 

Email: info@bciminerals.com.au

Website: www.bciminerals.com.au

 

Aruma Resources Completes Second Drill Phase at Slate Dam

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) has completed the second phase of drilling at the company’s 100 per cent-owned Slate Dam gold project in the Eastern Goldfields of Western Australia.

Aruma Resources explained the program was designed to follow up the maiden drilling program at Slate Dam, which resulted in the discovery of a new gold system.

Aruma has completed 23 reverse circulation (RC) drill holes in the latest phase of drilling, comprising:

10 extensional holes design to test the grade and dimensions of the 20 metre thick trend identified in the maiden drill program;

10 repetition holes designed to test stratigraphic repetitions of the gold mineralised system to the east; and

Three holes targeting the priority 440ppb gold anomaly, situated north of Aruma’s previous drilling at Slate Dam.

The company said the holes showed deep oxidation and weathering to around 50 metres as well as abundant sulphides in the last hole.

“The drilling sought to test the dip and strike potential of the major gold shoots identified in the first phase of drilling,” Aruma Resources said in its ASX announcement.

“All samples have been submitted for laboratory analysis and results are expected in the current month.

“The results of this phase of drilling will be utilised, in conjunction with Aruma’s ongoing exploration activities, to define drill targets for the next phase of drilling.

“This is planned to be an RC program of at least 2,100 metres, scheduled to commence after results are evaluated.”

Aruma is also assembling the data base from the recently-acquired Trojan and Transville leases that it will use to assist in selecting priority targets over the total lease area.

 

Email: info@arumaresources.com

Website: www.arumaresources.com

 

Alliance Resources Assessing Weednanna Regional Gold Prospects

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) spruiked the regional gold potential surrounding the company’s Wilcherry project area in South Australia, which forms part of the joint venture (JV) between Alliance (71.09%) and Tyranna Resources (ASX: TYX) (28.91%).

Alliance Resources explained that since the formation of the JV, its primary focus has been to assess the potential of the high-grade Weednanna gold prospect for economic development.

The company has since advanced with this work and plans to establish a maiden mineral resource estimate in the first half of this year.

Alliance has improved its understanding of the gold skarn mineralisation model at Weednanna with two significant advances:

(1) The recognition of discrete high-grade gold shoots; and

(2) The location of gold shoots in both Paleo-Proterozoic meta-sediments and Archaean granite-gneiss.

Of note, the company has identified that previous exploration did not use appropriate drill hole spacing for the discrete high-grade gold shoots and largely ignored the opportunities in the Archaean granite-gneiss.

Alliance has commenced a review of the regional gold prospectivity to identify prospects with potential for gold mineralisation within five kilometres of Weednanna.

Preliminary compilation of the historic geochemical and drilling databases indicates gold exists at the Mawson, Ultima Dam South and Weednanna North prospects, with anomalous gold at the Ultima Dam and Ultima Dam North prospects.

“Now that our flagship Weednanna gold prospect is advancing towards a maiden mineral resource estimate, we have turned our attention to the regional gold potential proximal to the prospect,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“It is emphasised that the exploration potential at Weednanna itself remains very high, however, the high-grade gold intercepts at Mawson and Ultima Dam South, both within a short trucking distance to Weednanna, are also very exciting.”

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

 

Gold Road Resources Confirms South Yamarna High-Grade Gold

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) released the first assay results from 2018 exploration campaign underway at the company’s 100 per cent-owned Yamarna project.

Gold Road Resources announced that high-grade mineralisation has been confirmed at both the Smokebush Camp, in the former South Yamarna Joint Venture, which it now owns 100 per cent, and along the 14-kilometre-long Supergroup Trend in the Wanderrie Camp which starts approximately 15 kilometres to the north of the Smokebush Camp.

Smokebush diamond drilling hs improved Gold Road’s understanding of and the continuity of high-grade dolerite hosted mineralisation, with best intersections including:

18SMDD0005
56.25 metres at 1.95 grams per tonne gold Au from 98.75m, including 5.41m at 4.22g/t gold from 133.65m and 7.73m at 5.45g/t gold from 144m; and

18SMDD0001
1.27m at 3.88g/t gold from 25m.

Diamond and RC drilling results from Wanderrie over the approximate 14-kilometre strike length of the Supergroup Trend have confirmed the potential to define several more deposits.

Best intersections include:

18WDRC0149
2m at 17.45g/t gold from 80m;

18WDRC0157
1m at 17.27g/t gold from 134m and 5m at 4.5g/t gold from 140m;

18WDRC0156
5m at 3.63g/t gold from 85m and 2m at 10.31g/t gold from 130m; and

18WDRC0159
5m at 3.64g/t gold from 57m.

“First drilling of our 2018 drilling campaign at our now 100 per cent-owned South Yamarna project has yielded immediate positive results at the Smokebush Camp, confirming high-grade mineralisation in a very prospective part of the Yamarna Belt,” Gold Road Resources executive director – exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“Approximately 15 kilometres to the north of Smokebush new zones of high-grade mineralisation, along an approximate 14 kilometre strike of the Supergroup Trend, also confirmed multiple areas of potential.

“Understanding the detailed controls in both areas, together with drill testing of high ranking targets at Toppin Hill and Yaffler South, also in this southern area, is likely to identify a district scale opportunity for follow-up drilling later this year.”

Gold Road acquired Sumitomo’s 50 per cent interest in the South Yamarna project consolidating its ownership over the majority of the Yamarna Belt, which now totals approximately 5,000 square kilometres, covering the 100 per cent-owned Yamarna project, 50 per cent of the Gruyere Joint Venture, and the 100 per cent-owned Throssel project north-east of Yamarna.

Consolidating the South Yamarna project area and its prospective targets, has allowed Gold Road to prioritise and focus on highest ranked prospects compared to previous years.

The company has identified priority targets to be tested in 2018 including Smokebush, Toppin Hill, Breelya, Yaffler South, Kingston North, and Hirono Trend.

These targets are all within 15 to 30 kilometres of the Supergroup Trend on the Wanderrie Camp and will be a major focus of Gold Road’s activity through 2018.

 

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

 

Intermin Resources Achieves Positive Metallurgy Results at Richmond

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC), along with JV partner AXF Vanadium Pty Ltd, announced positive initial metallurgical testwork results from the Lilyvale prospect area, part of the Richmond vanadium project in northwest Queensland.

Intermin Resources said the first pass pre-concentration testwork was completed on samples from the Lilyvale prospect area aimed at upgrading the run of mine ore utilising gravity, screening and flotation prior to downstream processing.

The test work was carried out by Beijing General Research Institute of Mining and Metallurgy and the Hunan Research Institute for Nonferrous Metals in China.

Intermin explained both Institutes account for over 60 per cent of test work conducted on vanadium in China with testwork programs jointly developed using AXF’s in-house expertise and the considerable experience of both institutes.

Two-stage concentration tests resulted in a 1.1 per cent vanadium oxide (V2O5) grade in 39 per cent of the mass at a 78.4 per cent recovery.

Further test work is now underway to optimise the pre-concentration stages with the aim of delivering a 1.5 per cent to 2 per cent V2O5 feed stock at acceptable recovery for downstream processing test work.

The Lilyvale prospect has an Inferred Mineral Resource (JORC 2012) of 670 million tonnes at 0.35 per cent V2O5 at a 0.29 per cent cut-off grade.

Lilyvale is the initial development focus for the JV and forms part of the greater Richmond project with a Mineral Resource of 2,579 million tonnes at 0.32 per cent V2O5 at a 0.29per cent cut-off grade.

“The first pass results from Lilyvale are extremely encouraging and confirm the historic testwork completed by Intermin over the last decade,” Intermin Resources managing Director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“To have highly credentialed research institutes in China delivering 78 per cent of the vanadium into 39 per cent of the mass at good grades bodes well for the optimisation testwork now underway.

“We look forward to further results and moving forward with AXF on the downstream processing studies and upgrading the Lilyvale resource.

“With the soft oxide mineralisation just four metres below surface at Lilyvale, the scale of the project has the potential to compete with any world class vanadium deposit and meet the supply needs of both the steel and emerging energy storage markets.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Blackham Resources Identifies Mineralisation Extensions at Wiluna

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) declared its latest drilling program at the company’s Wiluna and Matilda gold operation in Western Australia has identified extensions to shallow oxide and transitional mineralisation.

Blackham Resources said the results indicate potential for new open pits close to the Wiluna plant.

During March and April, Blackham’s exploration team drilled 130 RC holes focused on delineating further free milling open pit reserves over the 3.7 kilometres of strike at the Wiluna Mine.

The company said the Wiluna Mine drilling is expected to conclude in mid-May and resources will be re-estimated at that time.

“Pit optimisation studies completed immediately prior to this drilling demonstrate the potential for open pit cutbacks and new open pits to be developed at the Wiluna mine site,” Blackham Resources said in its ASX announcement.

“The $1,400 and $1,800 shells are similar in extent, which shows open pit mining is expected to be economic at a range of potential gold prices.

“These latest drilling results are expected to support substantial increases to open pit resources and reserves within open pits.”

Blackham said the potential for increased sulphide resources was highlighted by drill hole WURC0508, which intersected high-grade Wiluna shear-style sulphide mineralisation of:

22 metres at 3.29 grams per tonne gold from 97m down-hole, including 2m at 5.15g/t gold and 3m at 8.33 g/t gold.

Balckham said these zones show improving grade and thickness of Starlight mineralisation at depth and remain open for follow-up drill testing.

“Wiluna Mine final drilling results from outstanding holes are expected by the end of May, with resource and reserve updates to follow,” the company said.

“Golden Age underground drilling is ongoing and Lake Way drilling is due to commence this month.”

 

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

 

Gascoyne Resources Close to First Gold at Dalgaranga

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) advised that ore commissioning of the 2.5 million tonnes per annum processing plant at the company’s Dalgaranga gold project in Western Australia, is underway.

Gascoyne Resources indicated that GR Engineering has commenced the ore commissioning of the Dalgaranga processing plant, declaring it to be effectively complete with components being commissioned with ore and progressively tested up to their design capacities.

“First gold production expected in around 10 days,” Gascoyne Resources said in its ASX announcement.

“Construction of the project has progressed ahead of the original schedule, and remains under budget.”

 

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au

 

Nusantara Resources Updates Awak Mas Gold Minerals Resource

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THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) announced a Mineral Resource update for the company’s Awak Mas gold project in South Sulawesi, Indonesia.

Nusantara Resources declared the Indicated and Inferred Resource estimate, at 0.5 grams per tonne gold cut‐off, for Awak Mas, consisting of the Awak Mas, Salu Bulo and Tarra deposits, to now stand at 45.3 million tonnes at 1.4g/t gold for 2 million ounces.

The company highlighted that 95 per cent of the contained ounces within the Awak Mas deposit and 90 per cent of the contained ounces in the Salu Bulo deposit now report to the Indicated Resource category.

This represents a 0.2 million ounce increase in contained gold in the Indicated Resource category compared to the previous Mineral Resource estimate.

Nusantara expects an increase in resource confidence with the reclassification from Inferred to Indicated to positively influence the Ore Reserve, open pit mine life, and project economics as the DFS progresses.

The DFS is currently on track for delivery in July 2018 with a further material upgrade in the Ore Reserve anticipated following incorporation of this Mineral Resource update.

The company explained the focus of the DFS to now being on value enhancement with attention to waste dump design, pit optimisation, materials handling efficiency and mine scheduling.

“Achieving 89 per cdent in the Indicated Resource category for the Awak Mas gold project is a direct reflection of strong confidence in the geological model,” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“This Mineral Resource update also confirms potential to increase the mine life beyond our initial ten-year target, which will be confirmed in the forthcoming DFS.

“It is pleasing to see our geological and feasibility work continuing to demonstrate Awak Mas as a long-life, low cost, stand-alone gold project with significant exploration upside for further growth.”

 

Website: www.nusantararesources.com

 

Berkut Minerals Hit Further Cobalt Intersections at Skuterud

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THE DRILL SERGEANT: Berkut Minerals (ASX: BMT) received assay results from recent additional sampling of core from a maiden diamond drill program carried out at the company’s 100 per cent-owned Skuterud cobalt project in Norway.

Berkut Minerals claimed it has now identified three distinct cobalt anomalous zones in both of the sections it has drilled at Middagshville within the Skuterud project.

The company said the lates results defined a 7.6m wide anomalous cobalt/copper zone in hole MDV006.

Berkut carried out relogging of drill core in March, along with additional cutting and sampling of selected core targeting intersections of anomalous cobalt/copper mineralisation that were not completely terminated by previous sampling.

Results from this sampling include:

MDV006
2 metres at 0.08 per cent cobalt from 72m within a 7.6m wide anomalous cobalt/copper zone (0.04 per cent cobalt and 0.1 per cent copper from 72m); and

MDV003
9m at 0.03 per cent cobalt and 0.15 per cent copper from 46m.

The company indicated the newly identified zones will aid in both 3D interpretation and targeting on the ground.

“The company looks forward to progressing field activities at Skuterud in May this year,” Berkut Minerals managing director Neil Inwood said in the company’s announcement to the Australian Securities Exchange.

“The results from the recent infill core sampling have confirmed that at least three distinct cobalt anomalous zones are being seen within a broader copper halo near the Middagshville workings.

“Berkut is now preparing for a follow up drilling program designed to vector in on high grade cobalt zones exploited within the historical workings.

“With $4 million of cash, Berkut is well funded to continue to explore this exciting 6.5 kilometre trend of cobalt workings at Skuterud which was, in its day, the World’s largest cobalt producer.”

 

Website: www.berkutminerals.com.au