Ausgold Encounters High-Grade Gold at Jinkas South

/in , /by

THE DRILL SERGEANT: Ausgold (ASX: AUC) released results from recent reverse circulation (RC) drilling undertaken at the Jinkas South prospect, one of what the company considers to be many near-resource targets recently identified at its 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed an additional eight RC holes at Jinkas South during March following up positive results from previous drilling seeking to expand the broad zone of gold mineralisation that company has identified at the prospect, which lies approximately 275m south along strike from the Jinkas deposit.

The eastern-most hole drilled in this program (BSRC0814) intersected a zone of high-grade gold mineralisation similar in width and grade to those found along the northern portion of the Jinkas Resource of 20.9 million tonnes at 1.17 grams per tonne gold for 785,000 ounces of gold.

Assays of hole BSRC0814 returned:

26 metres at 6.6g/t gold from 117m, including 4m at 37.19g/t gold from 119m; and

4m at 3.35g/t gold from 124m.

Ausgold said the recent drilling supports the company’s geological interpretations and provides potential for the extension of the Jinkas Resource further along strike to the south and down dip to the east.

“These RC results from Jinkas South highlight the exploration potential that exists relatively close to the Jinkas deposit and the Resource areas at the KGP,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The new drilling has shown the potential for the discovery of further high-grade mineralisation along strike and the down dip of the main Jinkas deposit.

“At Jinkas South there is 650 metres of potential strike length in addition to the existing 1,400 mertes strike length of the Jinkas resource.

“Such high-grade mineralisation has the potential to significantly increase the Resource base and grade of the KGP as a whole.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Rox Resources Brings Fisher East Resource to JORC 2012 Compliancy

/in , /by

THE DRILL SERGEANT: Rox Resources (ASX: RXL) released an updated version of the gold resource at the company’s Mt Fisher gold project in Western Australia.

Rox Resources explained the update now complies with the 2012 version of the JORC Code.

“There is no difference between the figures in the 2004 JORC Code resource estimate and this updated one,” Rox Resources said in its ASX announcement.

“However, the current updated version now has additional background information and disclosure as required by the 2012 JORC Code.”

Mt Fisher comprises three separate gold deposits at Moray Reef, Mt Fisher and Damsel.

The current JORC 2012-compliant Resource stands at:

973,000 tonnes at 2.75 grams per tonne gold for 86,080 ounces of gold, comprising:

Measured: 171,900 tonnes at 4.11g/t gold for 22,712 ounces;
Indicated: 204,900 tonnes at 2.82g/t gold for 18,548 ounces; and
Inferred: 596,200 tonnes at 2.34g/t gold for 44,821 ounces.

“With outstanding results from recent aircore drilling, a number of strong targets for gold mineralisation and increased resources have been identified,” Rox said.

“A 3,600 metre program of RC drilling has been designed to test these targets at Dam, Dam North, Damsel, Damsel South, Dirks and Shiva.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Azure Minerals Completes Oposura Drill-Out

/in , /by

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) announced completion of a resource definition drilling program undertaken at the company’s flagship Oposura project in Mexico.

Azure Minerals released further high-grade zinc and lead assay results from the drilling program with the latest batch stemming from the East Zone, which delivered thick intervals of high-grade zinc and lead sulphide mineralisation.

The company explained the mineralisation has been shown to commence in surface outcrop, extending horizontally at shallow depths over an area of approximately 400 metres (east-west) by 300 metres (northsouth).

The mineralised zone remains unconstrained to the north and west.

Some of the more impressive East Zone mineralised intersections from the latest results include:

OPDH-053
5.5m at 20.9 per cent zinc and lead (Zn+Pb) from 95.15m;

OPDH-059
9.6m at 18.2 per cent Zn+Pb from 50.6m;

OPDH-067
7.2m at 13.9 per cent Zn+Pb from 41.7m;

OPDH-072
3.4m at 19.3 per cent Zn+Pb from 13.05m;

OPDH-077
7.4m at 17 per cent Zn+Pb from 38.85m; and

OPDH-087
5.4m at 16 per cent Zn+Pb from 00.00m.

Azure identified the near-surface mineralisation within the eastern and southern areas is likely to be mined by open pit and, where the terrain rises to the west and north, underground mining is expected to be carried out using a simple room and pillar mining method utilising industry-standard mechanised mining equipment.

Azure explained the need to increase the number of drill holes within and surrounding both the East and West zones from the initial estimate of 120 to 156 to get the best result possible out of the drilling program.

“This expansion of the drill program resulted in an extra two months of drilling, and accordingly a commensurate increase in time to complete the resource estimate,” Azure Minerals said in its ASX announcement.

“The resource estimate is now expected to be completed in late May to June.

“These extensions are not expected to affect the delivery of the Scoping Study / Preliminary Economic Assessment, which is still scheduled for completion in the third quarter of 2018.”

 

 

Website: www.azureminerals.com.au

 

Impact Minerals Drills Further Evidence of Silica Hill Mineralised System

/in , /by

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

Aruma Resources said the second phase of drilling at Slate Dam will commence in April and will consist around 30 reverse circulation (RC) drill designed to follow up from the maiden drilling program completed in February, which resulted in the discovery of a new gold system at Slate Dam.

The drilling will also target new areas to the northeast of the earlier drilling with the aim of discovering new gold zones in potential repetitions of the mineralised sequence, where the mineralisation will be closer to the granites and grades are predicted to be higher.

Aruma indicated drill targeting for this component of the program will be guided by results from a soil geochemical program to be undertaken before the drilling commences.

“The results of the first phase drilling are significant and have confirmed Aruma’s sediment hosted gold exploration model for Slate Dam,” Aruma Resources said in its ASX announcement.

“The addition of historic drill results from the project has further validated and strengthened the company’s model.

“The intersections and the outcrop assay demonstrate that the shoots will likely be close to surface.

“This may impact on the testing methods and result in reduced drilling costs in order to delineate JORC Resources at the Slate Dam project.”

Email: info@arumaresources.com

Website: www.arumaresources.com
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) revealed new drill assays and detailed studies on core from the Silica Hill prospect at the company’s 100 per cent-owned Commonwealth project north of Orange in New South Wales.

Impact Minerals declared the latest results further demonstrate the large scale and high-grade nature of the mineralised system in the area.

Impact completed drilling hole CMIPT72, the eastern most hole it has drilled to date at the emerging high-grade gold-silver discovery at Silica Hill.

The hole intersected two zones of strong silica-sulphide alteration with anomalous gold and silver values over a combined thickness of more than 200 metres downhole, including a high-grade gold and silver vein within the upper zone, which the company interpreted to indicate potential for more veins nearby in particular to the south.

The upper zone in Hole CMIPT72 returned:

46 metres at 0.04 grams per tonne gold and 5g/t silver from 200m downhole, including 0.4m at 2.5g/t gold and 327g/t silver from 257.2m.

The lower zone returned:

67m at 0.3g/t gold and 1g/t silver from 402m downhole.

Additional detailed studies conducted on drill core demonstrated the two east-west trending mineralised structures at Silica Hill become more north west-south east orientated to the east and that the Silica Hill rhyolite is more extensive at depth to the south than previously recognised.

“Following the recent discovery of high-grade gold and very high-grade silver veins at Silica Hill, these new results are a further breakthrough for Impact as it demonstrates the system extends over an area of at least 500 metres by 500 metres in dimension and also to considerable depth,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“We are also recognising different units within the Silica Hill rhyolite that are an important control on the mineralisation and may also be the upper parts of a deep rooted intrusion that could be mineralised over a significant vertical extent.

“This augers well for our 2018 drill program.”

 

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

 

Aruma Resources to Commence Second Phase Drilling at Slate Dam

/in , /by

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

Aruma Resources said the second phase of drilling at Slate Dam will commence in April and will consist around 30 reverse circulation (RC) drill designed to follow up from the maiden drilling program completed in February, which resulted in the discovery of a new gold system at Slate Dam.

The drilling will also target new areas to the northeast of the earlier drilling with the aim of discovering new gold zones in potential repetitions of the mineralised sequence, where the mineralisation will be closer to the granites and grades are predicted to be higher.

Aruma indicated drill targeting for this component of the program will be guided by results from a soil geochemical program to be undertaken before the drilling commences.

“The results of the first phase drilling are significant and have confirmed Aruma’s sediment hosted gold exploration model for Slate Dam,” Aruma Resources said in its ASX announcement.

“The addition of historic drill results from the project has further validated and strengthened the company’s model.

“The intersections and the outcrop assay demonstrate that the shoots will likely be close to surface.

“This may impact on the testing methods and result in reduced drilling costs in order to delineate JORC Resources at the Slate Dam project.”

 

Email: info@arumaresources.com

Website: www.arumaresources.com

 

Draig Resources Hits More Gold at Tribune Discovery

/in , /by

THE DRILL SERGEANT: Draig Resources (ASX: DRG) released drill results from the Tribune discovery within the company’s Bellevue gold project near Kalgoorlie in Western Australia.

Draig Resources said the latest drill results from the Tribune discovery have extended the high grade gold mineralisation at depth and along strike to the south.

Results include:

DRCD020
2.5 metres at 29 grams per tonne gold from 147.5m and 3.8m at 5.2g/t gold from 133m downhole;

DRCC033
4m at 9.0g/t gold from 57m downhole;

DRDD036
2.4m at 16.6 g/t gold 102.4m downhole;

DRCD034
7m at 7.20g/t gold including 2m at 17.8g/t from 288m downhole – this is the southernmost drill intersection to date and confirms mineralisation is open to the south; and

DRDD031
9m at 5.4 g/t gold from 375m including 2m at 15.2g/t gold – this is the deepest drill intersection Draig has encountered to date, which the company said confirms high-grade gold mineralisation at depth.

Draig Resources recently completed a fully underwritten institutional placement to secure exploration funding for the company to fast track key targets including:

Step-out extensions of the high-grade Tribune Lode;
Further mineralisation in the ‘Western Mineralised Corridor’;
Drill testing Bellevue Mine Lode deeper targets;
Regional targeting over 20 kilometres of potential strike; and
Initial first pass targeting at the South Yandal gold project located on the Bronzewing-Darlot-Jubilee gold belt only 40 kilometres to the east of the Bellevue gold project.

The company indicated a Resource estimate for Bellevue gold project is anticipated in Q3 2018.

“The company is pleased to update the market on the progress of the high-grade Tribune Lode discovery,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Our most recent step-out extensional drilling has confirmed the high-grade mineralised system is very much alive to the south, at depth and down plunge, with numerous high-grade drill intersections received from this latest round of results.

“With the recent fully underwritten institutional placement completed the company now has the opportunity to aggressively augment drilling at the Tribune Lode and explore for further high-grade zones within the highly prospective Western Corridor and beyond.

“We see a real opportunity to significantly grow the Bellevue gold project into a standout high-grade gold project.”

 

Email: admin@draigresources.com

Website: www.draigresources.com

 

Azure Minerals Records High-Grade Lead and Zinc Hits at Oposura

/in , /by

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) provided further encouraging results from resource definition drilling of the company’s Oposura project in Mexico.

Azure Minerals said it anticipates the initial mineral resource estimate to be ready in May and the release of a Scoping Study / Preliminary Economic Assessment expected in Q3 2018.

The company took rock chip samples of outcropping mineralisation at the West Zone, which returned individual grades up to 43.7 per cent zinc and 29.6 per cent lead, with combined grades up to 59.6 per cent zinc and lead (Zn+Pb).

Drilling along strike from this mineralised outcrop intersected high-grade zinc and lead sulphide mineralisation which extends at shallow depths over an area of more than 400 metres (east-west) by 400m (north-south), with evidence of internal continuity of the horizontal mineralised zone.

The mineralisation remains open to the north and east.

Some of the better mineralised intersections from the West Zone include:

OPDH-032
2.4 metres at 15.5 per cent Zn+Pb in from 15.65m (lower zone);

OPDH-049
7.4m at 15.9 per cent Zn+Pb in from 60.45m (lower zone);

OPDH-056
2.8m at 19.0 per cent Zn+Pb in from 12.30m (newly identified upper zone);

OPDH-056
3.7m at 15.6 per cent Zn+Pb in from 78.25m (lower zone);

OPDH-061
3.5m at 13.2 per cent Zn+Pb in from 43.05m (lower zone); and

OPDH-079
4.6m at 15.0 per cent Zn+Pb in from 56.05m (lower zone).

“With the mineralisation being mostly horizontal, the vertical height of the mineralised zone continues to be optimal for a simple room and pillar underground mining operation utilising industry-standard mechanised mining equipment,” Azure Minerals said in its ASX announcement.

 

Website: www.azureminerals.com.au

Peel Mining Confirms Large-Scale Mineral System at Wagga Tank

/in , /by

THE DRILL SERGEANT: Peel Mining (ASX: PEX) released further drill results from the company’s 100 per cent-owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales.

Peel Mining said the results continue to confirm its view that it has discovered a large or ‘camp-scale’ base metal-rich mineral system comprising multiple high-grade deposits clustered close to one another.

The drilling was carried out before and after the Christmas/New Year break and Peel considers them to emphasise the extensive and high-grade nature of zinc-lead-silver-gold mineralisation present at the Southern Nights prospect.

Other drilling included a first-pass program on the The Bird/Fenceline prospect, the results from which indicate potential to add further high-grade mineralisation to the Wagga Tank/Southern Nights project.

Previous and latest high-grade zinc-lead-silver-gold intercepts from Southern Nights, returned:

WTRCDD062
12m at 16.11 per cent zinc, 5.41 per cent lead, 151 grams per tonne silver, 0.44g/t gold from 215m;

WTRCDD061
15m at 4.81 per cent zinc, 2.31 per cent lead, 0.61 per cent copper, 66g/t silver, 0.59g/t gold from 234m and 18m at 4.41 per cent zinc, 1.57 per cent lead, 19g/t silver, 0.12g/t gold from 274m;

WTRCDD075
9.2m at 7.18 per cent zinc, 1.98 per cent lead, 0.48 per cent copper, 34g/t silver, 0.64g/t gold from 263m;

WTRC090
6m at 5.01 per cent zinc, 1.91 per cent lead, 435g/t silver, 2.46g/t gold from 195m; and

WTRC093
22m at 4.71 per cent zinc, 1.93 per cent lead, 80g/t silver, 0.12g/t gold from 178m.

The recent drilling confirmed the Bird/Fenceline prospect as an additional high-priority target with high-grade lead-silver-gold intercepts returned.

Better assays include:

TBRC001
24m at 12.55 per cent lead, 0.2 per cent zinc, 68g/t silver, 2.49g/t gold from 118m, including 13m at 21.49 per cent lead, 0.27 per cent zinc, 120g/t silver, 4.36g/t gold from 119m;

TBRC002
6m at 11.69 per cent lead, 0.4 per cent zinc, 39g/t silver, 1.38g/t gold from 91m, including 3m at 20.95 per cent lead, 0.61 per cent zinc, 66g/t silver, 2.08g/t gold from 92m; and

TBRC012
2m at 7.48 per cent zinc, 4.49 per cent lead, 36g/t silver, 0.21g/t gold from 137m.

“RC and diamond drilling at the Wagga Tank/Southern Nights project is ongoing, with a focus on processing and sampling drilling material that is currently at hand,” Peel Mining said in its ASX announcement.

“Follow-up drilling at Fenceline/The Bird is also planned.

“Drilling will be designed to continue to test for strike and dip extensions; and to test other targets in the general Wagga Tank area.

“Additional surface geophysical surveys are also planned to assist with targeting.

“First-pass metallurgical testwork is underway with follow-up work expected to commence during the next quarter.”

 

Email: info@peelmining.com.au

Website: www.peelmining.com.au

 

Corazon Mining Extends Cobalt Ridge Footprint

/in , /by

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) claimed discovery of four new cobalt-copper-gold anomalies at the Cobalt Ridge prospect, located within the company’s Mt Gilmore project in New South Wales.

Corazon Mining said the new geochemical anomalies have extended the known cobalt-mineralised system at Cobalt Ridge to an area of approximately three kilometres in strike and one kilometre in width, which remains open in all directions.

The company said the newly-identified cobalt-copper-gold anomalies strengthen its exploration model for the entire project area to potentially host cobalt dominant sulphide deposits, in addition to the known mineralisation at the Cobalt Ridge prospect.

The new anomalies were identified via results from a recently completed geochemical soil-sampling program at Cobalt Ridge testing for extensions to previously defined mineralisation.

Corazon is continuing its exploration activities at the project, including additional sampling, mapping and geophysics, which it will use to define specific targets for the next phase of drilling.

“To date, the results of Corazon’s exploration work at Cobalt Ridge suggests the geochemical dispersion of metals within the soil profile is restricted due to the carbonate rich nature of the host rocks,” Corazon Mining said in its ASX announcement.

“As such soil sampling has proven to be a good indicator of mineralised basement.

“Four new areas of interest have been identified from this latest soil-sampling program.

“The generated anomalies are of lower tenor than that discovered over the Cobalt Ridge outcrop areas, where mineralisation outcrops.

“However, they are not closed off and may represent the margins of much larger soil anomalies.

“Field validation, infill and extension soil sampling is currently underway to further test these features.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Intermin Resources Accrues World-Class Vanadium Resource

/in , /by

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released an updated JORC 2012-compliant Mineral Resource for the company’s Richmond vanadium project in central north Queensland.

Intermin Resources owns 100 per cent in five Mineral Exploration Permits (EPM25163, EPM25164, EPM25258, EPM26425 and EPM26426) covering 481 Blocks near Richmond and 100 per cent of the metal rights to Global Oil Shale Plc’s Julia Creek (Burwood) MDL 522.

The company explained the updated Mineral Resource has been compiled to consider changes to tenement boundaries and to ensure compliance with the JORC Code (2012).

The Mineral Resource for the Richmond project area now stands at:

2,579 million tonnes at 0.32 per cent vanadium oxide (V2O5) at a 0.29 per cent lower cut-off grade.

The Richmond project is a Joint Venture with Chinese backed AXF Vanadium Pty Ltd (AXF), under which AXF can earn up to 75 per cent interest by spending $6 million by 2021 inclusive of completion of a Feasibility Study.

“The Richmond project hosts a globally significant Vanadium resource amenable to low cost, shallow open cut mining in close proximity to existing road, rail and ports,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“With vanadium prices reaching ten-year highs on the back of tightening supply and surging demand in the grid-scale battery market, Richmond has the potential to become a major supplier of vanadium to the energy storage and steel markets.

“The company looks forward to supporting AXF as the JV completes infill drilling and metallurgical test work to assess the most economic and efficient pathway to commercial production.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au