Intermin Resources Updates Anthill Gold Resource

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THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released an updated Mineral Resource Estimate for the company’s 100 per cent-owned Anthill gold project, located northwest of Kalgoorlie in Western Australia.

The JORC Code 2012- compliant Mineral Resource for Anthill now stands at 1.42 million tonnes at 1.72 grams per tonne gold for 78,000 ounces of gold (>1.0g/t Au lower grade cut-off).

Intermin Resources explained the update to th Resource stemmed from drilling completed in 2017.

This included diamond drillhole AHD1701, which the company said was drilled to validate the mineralisation model, examine the mineralisation and vein orientations and obtain samples for metallurgical and physical properties testing.

The results from this hole confirmed Intermin’s geological model whereby mineralisation consists of a discrete steeply plunging quartz stock work zone developed within a folded and altered pillow basalt unit within the Zuleika Shear.

Shallow downhole RC intercepts from the 2017 program included:

AHRC17027
41m at 2.63 grams per tonne gold from 69m;

AHRC17024
30m at 2.98g/t gold from 73m;

AHRC17039
11m at 3.72g/t gold from 46m ;

AHRC17035
29m at 1.84g/t gold from 49m;

AHRC17032
15m at 2.26g/t gold from 32m ;

AHRC17028
7m at 4.58g/t gold from 37m and 43m at 1.46g/t gold from 54m;

AHRC17031
19m at 2.22g/t gold from 39m and 27m at 2.17g/t gold from 98m;

AHRC17029
19m at 1.5g/t gold from 32m and 38m at 1.48g/t gold from 86m; and

AHRC17020
18m at 2.8g/t gold from 48m and 11m at 4.91g/t gold from 90m.

Deeper downhole RC intercepts included:

AHRC17043
17m at 5.37g/t gold from 137m;

AHRC17032
6m at 11.15g/t gold from 110m ; and

AHRC17039
11m at 6.22g/t gold from 157m and 3m at 6.48g/t gold from 187m.

“The successful drilling at Anthill in 2017 has confirmed the company’s geological interpretation and the initial Mineral Resource is an excellent base on which to grow the project,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Intermin takes a very conservative and economic approach to resource estimation and typically applies higher cut-off grades as we commence initial development studies.

“We now look forward to the upcoming extensional and new discovery drill program planned for the June Quarter and believe Anthill and new targets identified within the project area have the potential to be a significant part of our future production pipeline.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Metalicity Set to Commence Yerrida Cobalt Project Drilling

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THE DRILL SERGEANT: Metalicity (ASX: MCT) reported recent activities at the company’s Yerrida cobalt project, located in the Yerrida Basin of Western Australia.

Metalicity said it has generated new targets at the project and that further field work and an approximate four-hole diamond and/or RC drilling program is set to commence at the project.

The company claims to have developed an exploration model for Yerrida with characteristics compatible to the geological setting of the prolific central African copper-cobalt belt.

Previous exploration undertaken by Metalicity demonstrated a geological setting considered amenable to hosting structural/stratigraphic-controlled copper-cobalt mineralisation and nickel-cobalt mineralisation.

Previous exploration by Metalicity at Yerrida identified a high priority target area over approximately seven square kilometres, which includes widespread surface geochemical anomalies including up to 6,400ppm cobalt and 1,500ppm cobalt, while drilling intersected primary stratigraphic controls on mineralisation or a halo to regional base metal transport over a 8 to 12m thick zone containing anomalous cobalt at the K1 target.

“Recent drilling intersected stratabound intervals of geochemically anomalous copper and cobalt mineralisation which are interpreted to indicate primary stratigraphic controls on mineralisation or a halo to regional base metal transport,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“A deeper hole is planned to test the potential for high-grade mineralisation associated with deeper structures from the underlying ‘red bed’ sandstones at K1, while a further three regional targets have been generated associated with an interpreted northwest-striking fault at K2-K4 for field work and drilling to test for leakage and cobalt mineralisation.”

 

Website: www.metalicity.com.au

Cazaly Resources Commences Drilling at Bungonia Cobalt Project

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THE DRILL SERGEANT: Cazaly Resources (ASX: CAZ) started its inaugural drilling program on the Avanti prospect, one of nine prospects within the company’s Bungonia cobalt project in New South Wales.

Cazaly Resources said the drilling program of approximately 80 holes will mostly be focused at the Avanti prospect, which is currently measuring at least 700 metres long and remains open along strike and up to 150m wide.

The company explained that work undertaken previously at the Bungonia cobalt project defined several areas of cobalt and nickel mineralisation, some of which were historically mined as early as the 1890s.

Cobalt mineralisation at the project occurs as flat lying residual on hills extending for several hundred metres associated with manganiferous deposits.

“The deposits typically contain relatively rich cobalt values, with minor nickel and copper credits, and have been worked historically with high cobalt recoveries,” Cazaly Resources said in its ASX announcement.

“The areal extent and assay results from historic work, and now work by Cazaly, points to significant potential to extend known deposits as well as make new discoveries within the project area.

“The potential is highlighted by the results of rock chip grades from this programme along with historic mining from several locations.”

Cazaly highlighted the current strength of the global cobalt price (approximately USD$84,000 per tonne) and the recent developments in the Democratic Republic of Congo (which produces approximately 60% of the world’s cobalt), whereby new legislation has increased the royalty on cobalt.

 

Email: admin@cazalyresources.com.au

Website: www.cazalyresources.com.au

 

Venture Minerals Identifies nickel-copper-cobalt mineralisation at Caesar Project

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) received results from the first hole drilled at the company’s Caesar project in Western Australia.

Venture Minerals conducted the drilling, co-funded by WA State Government’s Exploration Incentive Schem, targeting nickel-copper-cobalt sulphide mineralisation.

The company claimed the drill hole (CSD01) intersected minor disseminated sulphides throughout a zone of dolerite located in the hole and had verified the presence of nickel, cobalt and copper within the intersected sulphides.

Venture declared the results to confirm the mafic rocks (dolerite and gabbro) at Caesar host nickel-copper-cobalt sulphide mineralisation.

On the back of the results Venture has now applied for a further 70 square kilometres of tenure immediately to the north it believes to contain interpreted extensions of the same dolerite and gabbro units.

In addition, CSD01 returned an 18-metre intersection that included: one metre at 1.8 grams per tonne gold, 4.6g/t silver, 806ppm copper, 655ppm zinc and 578 ppm lead.

“The potential for gold mineralisation at the Caesar project is now being evaluated through interpretation of arsenic assay results from the previous surface sampling,” Venture Minerals said in its ASX announcement.

“This work has already highlighted several additional gold targets within the Caesar project.”

Venture Minerals indicated that the drilling of CSD01 did not test the strongest surface geochemical response within the project area, which means follow-up drilling will be designed to re-test the target.

To fully evaluate the potential for gold mineralisation occurring within the project area the company will re-analyse previously collected surface lag samples for gold.

Once the new land application to the north has been granted, a surface geochemistry (lag sampling) program will be initiated to test for extensions of the same dolerite and gabbro units already identified at Caesar.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au

 

Comet Resources Extends Springdale Eastern Zone Mineralisation

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THE DRILL SERGEANT: Comet Resources announced results from drilling carried out on the Eastern and Northern zones of the company’s 100 per cent-owned Springdale graphite project, located east of Hopetoun in Western Australia.

Comet Resources completed a detailed aeromagnetic survey over the Springdale graphite project last year that delineated 26 kilometres of stratigraphy the company deemed to be prospective for graphite mineralisation.

Amongst these high-priority targets was a 1.5km long magnetic low associated with previously encountered high-grade mineralisation from drillhole HD018.

The recent drilling has extended this mineralisation over 800 metres of strike that is open along strike and at depth.

High-grade graphite mineralisation (>20% TGC) was defined for a strike of 500m.

Assay highlights include:

HR0036
12 metres at 12.2 per cent total graphitic carbon (TGC) from 26m, including 5m at 23.1 per cent TGC (160m north of HD018);

HR0069
6m at 9.5 per cent TGC from 38m, including 2m at 16.2 per cent TGC and 6m at 18.3 per cent TGC from 47m, including 5m at 21.7 per cent TGC (320m south of HD018);

HR0064
5m at 11.3 per cent TGC from 24m, including 4m at 13.7 per cent TGC and 16m at 10.8 per cent TGC from 42m, including 7m at 17.5 per cent TGC; and

HR0065
18m at 5.4 per cent TGC from 1m, including 1m at 15.5 per cent TGC and 5m at 13.6 per cent TGC from 69m, including 3m at 20 per cent TGC and 3m at 19.8 per cent TGC from 82m and 2m at 6.1 per cent TGC from 89m.

Comet identified the Northern Zone through previous reconnaissance RC drill testing of an interpreted fold closure.

The Northern Zone is also open at depth and along strike.

Latest assay highlights include:

HR0057
9m at 5.9 per cent TGC from 3m;

HR0060
20m at 19.3 per cent TGC from 30m, including 13m at 25.8 per cent TGC mineralised to end of hole;

HR0061
7m at 16.3 per cent TGC from 15m, including 3m at 35.1 per cent TGC and 15m at 7.3 per cent TGC from 24m, including 2m at 23.1 per cent TGC and 2m at 16.1 per cent TGC;

HR0062
6m at 6.1 per cent TGC from 4m and 14m at 7 per cent TGC from 23m, including 2m at 17.3 per cent TGC and 2m at 15.5 per cent TGC; and

HR0063
10m at 10.1 per cent TGC from 29m, including 2m at 18.2 per cent TGC and 1m at 17.2 per cent TGC and 2m at 17.8 per cent TGC.

“The extension of high graphite mineralisation in the Eastern Zone for a strike of 500 metres and the new discovery of high-grade graphite mineralisation at the Northern Zone further confirms the potential of the Springdale project area,” Comet Resources said in its ASX announcement.

 

Email: comet@cometres.com.au

Website: www.cometres.com.au

 

Corazon Mining Intersects Further Widespread Mineralisation at Lynne Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) completed its latest phase of drilling at the Fraser Lake Complex (FLC), located five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt mining centre in Canada.

Corazon Mining completed three holes at the FLC and two holes at targets closer to the Lynn Lake mining centre targeting large, untested geophysical anomalies that were identified during the company’s 2017 field season at Lynn Lake.

The company indicated the latest drilling has intersected widespread disseminated to heavy net-textured sulphide mineralisation from surface and throughout all holes within the FLC, adding that the initial results appear to be consistent with mineralisation intersected in the 2017 drilling program.

Samples from this drilling have been submitted for laboratory analysis.

“Drilling at the FLC continues to deliver positive results which strengthen Corazon’s geological model for the target, and belief that the FLC has the potential to host significant nickel-copper-cobalt sulphide deposits,” Corazon Mining said in its ASX announcement.

“It is noted, though, that the feeder zone(s) for this mineralisation have not yet been identified.

“With this aim in mind, the results of the recent drilling will enable the company to further refine its targeting and interpretation processes for on-going exploration.”

Corazon said it has commenced work for the re-estimation and up-grade of Resources within the Lynn Lake mining centre.

The company expects these Resources will be used to complete mining studies for the re-establishment of mining at Lynn Lake.

“The price of nickel has risen strongly in the past 12 months and the forecast demand outlook is similarly positive, factors which add weight to the potential economic viability of mining at Lynn Lake,” Corazon said.

 

Email: info@corazonmining.com.au

Website: www.corazonmining.com.au

 

Calidus Resources Hilghlights Warrawoona Gold Potential

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) completed a Regional Target Generation Study over the company’s East Pilbara greenstone assets.

Calidus Resources said the study had identified more than 45 high‐priority exploration targets at its Warrawoona project area that will be ranked and evaluated throughout 2018

The company geologists are following up the highest priority targets conducting mapping and geochemistry programs in advance of RAB and RC drilling planned for quarters two and three this year.

High priority targets include KET 14 and KET 15 in the southwestern part of the project area.

Calidus indicated these targets highlight a strong, northeast trending, +1 km long soil‐rockchip‐shallow drill hole gold anomaly, with broad, low grade gold (up to 0.5g/t gold) intercepts recorded.

“Whilst the main focus has been on the extensive Klondyke Shear zone over the last six months and increasing the overall resource by 74 per cent to its current 712,000 ounces, we have not forgotten about the significant exploration potential within our portfolio,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This comprehensive regional study across Warrawoona has generated numerous high conviction prospects with several priority drill targets already identified.

“We are actively exploring these high‐quality targets and are currently accelerating our 50,000 metre drill program for the year.

“We look forward to providing ongoing details as results come to hand.”

 

Website: www.calidus.com.au

 

Nusantara Resources Extends Awak Mas Deposit

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THE DRILL SERGEANT: Nusantara Resources (ASX: NUS) completed an exploration drilling program on the Awak Mas Highwall, part of the company’s 100 per cent-owned Awak Mas gold project located in South Sulawesi, Indonesia.

Nusantara Resources said the exploration program was designed to confirm the geological model and potential for extensions to the existing Mineral Resources at the 1.72 million ounce Awak Mas and 0.18 million ounce Salu Bulo deposits.

The company said the results from the six-hole program support potential for exploration upside along the untested two-kilometre Mine Corridor between the Awak Mas and Salu Bulo deposits.

Nusantara said it had received assay results from the first three holes that confirm gold mineralisation in the eastern projected extension of the Awak Mas deposit, validating the geological model.

Highlights include:

HWD002
45 metres at 1.3 grams per tonne gold from 257m, 8m at 2g/t gold from 308m, 41m at 0.9g/t gold from 384m and 4m at 2.5g/t gold from 421m.

RTD023
6.3m at 2.1g/t gold from 179m and 6 m at 3.9g/t gold from 237.6m.

“The extremely positive results returned from this program have validated Nusantara’s geological model by proving that the gold mineralisation is not restricted to the immediate current footprint of the Awak Mas deposit.” Nusantara Resources managing director and CEO Mike Spreadborough said in the company’s announcement to the Australian Securities Exchange.

“This provides confidence that further mineralisation in the immediate eastern Highwall area can be expected from the remaining three drill holes, all of which have strong visual indications, and supports our belief of significant exploration upside along the untested Mine Corridor between the Awak Mas and Salu Bulo deposits.”

 

Email: info@nusantararesources.com.au

Website: www.nusantararesources.com.au

 

Azure Minerals Resumes Drilling at Sara Alicia

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has commenced a second diamond drilling campaign on the company’s 100 per cent-owned Sara Alicia gold and cobalt project in the northern Mexican state of Sonora.

Azure Minerals said the drilling is being carried out to follow up on the company’s 2017 maiden drilling program, in which all six drill holes intersected high-grades of gold and cobalt mineralisation at shallow depths.

The previous program included a best intersection of:

26.2 metres at 9.5 grams per tonne gold and 1.26 per cent cobalt from 0.60m depth, including 12.6m at 16.8g/t gold and 6.35m at 3.57 per cent cobalt.

Azure explained that the first phase of this current campaign will comprise 10 to 12 diamond core holes and is expected to take about six weeks to complete.

The drilling has been designed to target along-strike and down-dip extensions of the high-grade mineralisation intersected in the 2017 program.

Based upon anticipating further success, the company is already planning a second phase of drilling over the mineralised body.

“The Sara Alicia mineralised zone consists of carbonate rocks intruded by a porphyry,” Azure Minerals said in its ASX announcement.

“This intrusive event caused strong alteration and mineralising reactions in the limestones to form a skarn body which hosts massive and semi-massive sulphides containing the cobalt and gold mineralisation.

“The mineralised body has a strong and identifiable magnetic signature extending over an area of approximately 300 metres by 150 metres.

“Encouragingly, modelling of the magnetic data indicates that the magnetic body which represents the mineralisation has considerable vertical depth extent, particularly to the north and northeast, providing excellent down-dip targets to extend the gold and cobalt mineralisation in those directions.”

 

Website: www.azureminerals.com.au

Excelsior Gold Making Headway at Kalgoorlie North Gold Project

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THE DRILL SERGEANT: Excelsior Gold is currently drilling a multi-faceted program aimed at the conversion of Resources to Reserves and exploring for new discoveries over the company’s 100 per cent-owned Kalgoorlie North gold project (KNGP).

Excelsior Gold has completed an infill drilling program at Zoroastrian and is anticipating receipt of assay results from the remaining six holes within the next couple of weeks.

The company said all data from the infill program will be incorporated into a new open pit resource model due for completion in April.

“This process will again use the Localised Uniform Conditioning (LUC) modelling technique, which was successfully adopted for the recently completed Zoroastrian Central open pit mine,” Excelsior Gold said in its ASX announcement.

“The Zoroastrian Central LUC model predicted the tonnes, grade and overall gold metal within acceptable limits during the mining and reconciliation process for the last phase of mining activities.”

Once the open pit resource estimate has been completed, Excelsior will remodel the deposit for underground mining using the ordinary kriging estimation technique.

The company expects this will lead to a higher grade, lower tonnage estimate.

“Once the two resource models have been completed, mine design and scheduling work with costings will be carried out to optimise anticipated financial returns,” Excelsior said.

“The updated Zoroastrian model will also allow deeper, down-plunge extensional drilling to be designed, targeting the high-grade lodes at depths of more than 350 metres below surface.”

Excelsior has re-wireframed its eponymous Excelsior open pit deposit utilising updated in-pit mapping, historical reports and data from several diamond holes which had been re-assayed to confirm the new interpretation.

Grade estimation will be carried out using LUC modelling, which estimates into small SMU sized blocks, allowing for more selectivity which can be achieved during mining.

“The modelled tonnes and grades are therefore more likely to be achieved during mining and will assist in providing refined mine scheduling and cashflow forecasting as mine planning is undertaken,” Excelsior said.

“The new resource model is due for completion in April with the reserve model scheduled for completion in June.”

Excelsior Gold detailed exploration programs to be carried out in order to test for new discoveries along the Bardoc Tectonic Zone (BTZ) using a detailed geological and drilling database the company assembled from past and present exploration and mining activities within the KNGP.

Database reviews highlighted further anomalous results that will be followed up with reconnaissance drilling.

The company has flagged a 3,500m aircore program due to commence in early April on the northern extent of the Black Flag Fault (BFF) in the vicinity of the interpreted intersection between the BTZ and the BFF.

This program is designed to close in on exploration targets with RC and diamond drilling to follow as required.

 

Website: www.excelsiorgold.com.au