Azure Minerals Extends Oposura Mineralised Zone

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported further near-surface, high-grade zinc and lead drill results from the company’s Oposura project, located in the northern Mexican state of Sonora.

Azure Minerals said the latest high-grade zinc and lead results have extended the mineralisation previously reported at the project.

In 2017, Azure completed its first drilling campaign at Oposura, which entailed 72 diamond drill holes for 4,424 metres, the majority of which were focused on the Oposura East Zone.

2018 drilling has already commenced and is now being undertaken concurrently on both the East and West Zones.

Azure indicated further results are expected to be reported shortly.

The latest round of drill results has extended the high-grade mineralised zone to the south and west of previously reported near-surface, high-grade mineralisation in the East Zone, including:

OPDH-008
16.62 metres at 14.09 per cent zinc and 7.95 per cent lead, including 9.32m at 23.89 per cent zinc and 13.03 per cent lead.

Drill holes OPDH-036, OPDH-023 and OPDH-026 extended this flat-lying, near-surface, high-grade mineralisation approximately 100m to the south of drill hole OPDH-008.

Mineralised intervals include:

OPDH-036
2.05m at 21.33 per cent zinc and 21.23 per cent lead from 37.5m:

OPDH-023
2.9m at 9.68 per cent zinc and 6.45 per cent lead from 18.9m; and

OPDH-026
2.15m at 8.73 per cent zinc and 5.47 per cent lead from 15.2m.

Azure said the mineralisation remains open to the south and west of OPDH-036, OPDH-023 and OPDH-026 and further drilling is planned for this area.

“The latest results from the Oposura East Zone continue to be encouraging, with high grade zinc and lead mineralisation being consistently intersected, confirming the continuity of the near to surface, massive sulphide mineralised horizon,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“While drilling initially focused on the East Zone, drilling is now being conducted concurrently in both the East and West Zones, and results continue to be regularly received.

“The resource drill-out is proceeding smoothly and is on time to be completed in February, enabling a maiden mineral resource estimate to be released by April 2018.

“Further drilling to test possible resource extensions and additional exploration potential is in planning.”

 

Website: www.azureminerals.com.au

Sipa Resources Commences Akelikongo AMT Survey

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THE DRILL SERGEANT: Sipa Resources (ASX: SRI) is about to commence a Natural Source Audio Magneto Telluric (NSAMT) survey over the Akelikongo and Akelikongo West mineralised intrusions, part of the company’s 100 per cent-owned Akelikongo nickel-copper sulphide project in northern Uganda.

Sipa Resources said by conducting the survey it hopes to confirm the shape and orientation of intrusive pipe-like bodies down-plunge in order to optimise further drill targeting.

“AMT surveys have shown to be highly effective in delineating similar mineralised intrusions at depth including Jacomynspan in South Africa where AMT detected the intrusion down to one kilometre below the surface,” Sipa Resources said in its ASX announcement.

“Akelikongo and Akelikongo West are nickel and copper sulphide continuously mineralised bodies located within a pipe or conduit, comprising multiple intrusive pulses of mafic to ultramafic magmas.

“More than 10 additional Akelikongo ‘suite’ intrusions have now been identified as a result of soil sampling and recent field mapping, in a north-north west-trending zone 80 by 30 kilometres in extent from Goma to the Northern Ugandan border.

“Lithogeochemistry and dating of selected rock samples is currently underway with the objective of proving that the suite of intrusions (of which only Akelikongo and Akelikongo West have been tested by drilling) are genetically related and hence also prospective for nickel-copper and PGE’s.”

Sipa explained that the AMT survey will initially be completed over the known Akelikongo mineralisation.

Should it define an intrusion, the company intends extending the survey to up to one kilometre to the north where previous drilling of EM targets AKD003 and AKD012 returned subtly anomalous nickel-copper-PGEs in the host gneisses.

Sipa has interpreted this anomalism to indicate proximity to the intrusive conduit or geochemical leakage from the intrusion.

Should the survey prove successful, Sipa will generate further drill targets at Akelikongo using the data from the survey.

 

Email: info@sipa.com.au

Website: www.sipa.com.au

 

Blackstone Minerals Hits Encouraging Cobalt Numbers with First Hole at Little Gem

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) announced results from the first hole drilled at the company’s Little Gem cobalt-gold project in British Columbia, Canada.

Blackstone Minerals explained the hole had kicked off its first drilling program to be carried out at the project and had intersected massive, semi-massive and disseminated mineralisation, producing results including:

4.3 metres at 1 per cent cobalt and 15 grams per tonne gold, including 1.1m at 3 per cent cobalt and 44g/t gold.

Blackstone claimed the initial results from the maiden drilling program are consistent with historic drilling and adit channel sampling, which returned average grades of 3 per cent cobalt and 20g/t gold.

The company indicated that the first hole had only tested the upper portion of the mineralised target where multiple zones of massive sulphide (cobalt-gold) mineralisation has been identified within a broader alteration halo.

The drilling is also consistent with historic underground drilling from adits including:

1.8m at 2.4 per cent cobalt and 112g/t gold;

3.3m at 1.4 per cent cobalt and 80g/t gold; and

3.3m at 1.4 per cent cobalt and 12.3g/t gold.

Results from historic adit channel sampling at Little Gem include:

1.8m at 4.4 per cent cobalt and 73g/t gold;

2m at 3.1 per cent cobalt and 76g/t gold; and

1.5m at 5.4 per cent cobalt and 26g/t gold.

“An outstanding result from our first drill hole at Little Gem,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We look forward to recommencing the maiden drill program in Q2 2018.

“With further regional exploration results pending we continue to expand our understanding of the full potential of the project.

“These initial results confirm Little Gem as one of the highest-grade cobalt-gold projects in the world located within a region completely unexplored for cobalt.”

 

 

Email: admin@blackstoneminerals.com.au

 

Website: www.blackstoneminerals.com.au

 

Millennium Minerals Upgrades Bartons Underground Resources and Reserves

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THE DRILL SERGEANT: Millennium Minerals (ASX: MOY) has progressed development of the proposed underground mining operation at the company’s 100 per cent-owned Nullagine gold project in Western Australia.

Millennium Minerals has completed an updated Mineral Resource and interim Ore Reserve for the Bartons deposit, comprising 627,300 tonnes grading 4.9 grams per tonne gold for 97,900 ounces of contained gold – a 22 per cent increase on the Phase 1 Mineral Resource announced in August 2017.

Millennium explained the updated Mineral Resource features a more than sixfold increase in Indicated Resources to 407,400 tonnes grading 5.6g/t gold for 72,900 ounces, up from 10,100 ounces previously.

The company said both the Phase 2 Mineral Resource and the maiden Ore Reserve will underpin a Feasibility Study on the Bartons underground mine, due for completion this quarter.

The Nullagine gold project achieved gold production of 21,400 ounces for the December 2017 quarter from ore sourced predominantly from the Bartons open pit cut-back, as well as the Au 81 West and Little Wonder deposits.

The fourth quarter operational performance took production for CY 2017 to 72,800 ounces of gold.

The company has finalised mine plans and production budget for the March 2018 quarter, which it expects to be underpinned predominantly by high-grade ore feed from the new Bartons open pit cut-back, supplemented by ore from the Au 81 West deposit and the new Golden Eagle South deposit.

Production for the quarter is expected to be 18,000 to 20,000 ounces of gold.

“Our strong production result for the December quarter reflects a huge effort by the entire team at Nullagine, and it’s important to note that the slight shortfall in ounces compared to our guidance is expected to be more than made up in the March 2018 quarter,” Millennium Minerals chief executive Peter Cash said in the company’s announcement to the Australian Securities Exchange.

“The company’s strong production profile in a rising gold market environment, underpinned by a debt-free balance sheet, gives us a unique opportunity to continue to invest strongly in the Company’s next chapter of growth.

“In that regard, completion of an upgraded Mineral Resource and Ore Reserve for Bartons Underground provides a very strong platform for us to move ahead rapidly with the development of our first new underground gold mine at Nullagine.”

Cash explained the free-milling ore from Bartons Underground will be processed through the existing CIL plant at Nullagine, which will form an important part of our production profile from the second half of this year onwards.

“At the same time, we are continuing to invest strongly in exploration to continue to grow our Resource and Reserve inventory,” he continued.

“Our exploration team has been incredibly successful in turning exploration concepts and prospects into new discoveries – most recently at Au81 West and Redbeard.

“Redbeard in particular is shaping up as a very exciting discovery for Millennium, having returned some of the thickest and highest-grade intercepts we have ever seen at Nullagine.

“A maiden Mineral Resource estimate for Redbeard is currently in progress and should be announced later this month.

“With our rigs back in the field from 4 January across multiple areas, we are continuing our strong commitment to growth through exploration and shareholders can now look forward to strong and consistent news flow on several fronts – exploration, development and, ultimately, the expansion of the operation as we complete the various studies designed to support a significant upgrade of the Nullagine processing plant later this year.”

 

 

Email: info@mmltd.com.au

 

Website: www.millenniumminerals.com.au

 

 

Corazon Mining Completes Phase 2 Metallurgy Work at Cobalt Ridge

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared the achievement of highly positive results from a recently completed Phase 2 metallurgical testwork program at the company’s Mount Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining completed the testwork on a composited sample of drill core from recent drilling undertaken at the Cobalt Ridge deposit.

The testwork follows Phase 1 metallurgical testwork results the company reported in March this year.

Corzon explained that the Phase 2 testwork targeted lower grade material than that tested in Phase 1, claiming it to have delivered exceptional results.

Using a simple flotation processing has yielded recoveries of 93.6 per cent cobalt and 98.4 per cent copper.

The concentrate mass represented only 5 per cent of the initial mass feed, with the concentrate grading at 2.02 per cent cobalt and 5.18 per cent copper.

The company tested mineralisation that included what it considers to be the ‘background’ grade for the main lode within the Cobalt Ridge deposit.

The assayed grade of the sample was 0.14 per cent cobalt, 0.32 per cent copper and 0.09ppm gold, providing a variation to the previously tested high-grade mineralisation in the first phase metallurgical testwork.

“On-going testwork for the Cobalt Ridge deposit will focus on defining the down-stream concentrate processing options and detailed process engineering studies,” Corazon Mining said in its ASX announcement.

“Results to date suggest excellent potential for the production of a concentrate for hydrometallurgical processing.”

Email: info@corazon.com.au

Website: www.corazon.com.au

Genesis Minerals Results Enhance Ulysses Underground Potential

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported further results from the current resource upgrade and extensional drilling program underway at the company’s 100 per cent-owned Ulysses gold project, south of Leonora in Western Australia.

Genesis Minerals said the latest batch of assays had provided further evidence of the potential for a standalone underground mining and processing operation.

The company has now received assay results for the RC holes (17USRC141 to 151), following the initial batch of 13 RC holes reported on 10 November.

Genesis declared the drilling results have confirmed the continuity of the deeper mineralisation below the open pit and current Mineral Resource.

The current RC and diamond drill program, has now been expanded to 59 holes.

The drilling forms part of the Feasibility Study on the Ulysses underground project.

Latest assay results include:

17USRC142
4 metres at 4.55grams per tonne gold from 188m;

17USRC146
2m at 12.15g/t gold from 145m;

17USRC147
14m at 5.93g/t gold from 120m;

17USRC148
6m at 5.08g/t gold from 157m;

17USRC149
5m at 3.95g/t gold from 142m;

17USRC150
2m at 5.17g/t gold from 156m;

17USRC151
2m at 5.03g/t gold from 126m; and

17USRC151
2m at 5.98g/t gold from 150m.

“We continue to add significant value to the Ulysses Project with each successive drilling program we undertake,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“The latest assays clearly demonstrate that high-grade mineralisation continues over significant widths below the open pit and well beyond the current resource boundaries, supporting the potential for a standalone mining and processing operation.

“In light of the excellent early results being achieved, we expanded the Phase 2 program to some 10,000 metres, allowing us to continue to test the mineralisation down-plunge.

‘This drilling, which was completed on the weekend, will lay the foundations for our next resource upgrade, which we are targeting for February next year.

“At the same time, we are continuing to progress the Underground Feasibility Study with multiple work streams advancing in parallel.

“We are also working towards a major new drilling program that will be undertaken in the first quarter of 2018 to define the broader potential of the Ulysses underground project.”

Website: www.genesisminerals.com.au

Cobalt Blue Holdings Confirms Railway Mineralisation Grade

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THE DRILL SERGEANT: Cobalt Blue Holdings (ASX: COB) released initial assays from its a resource definition drilling program underway at the company’s Thackaringa cobalt project in New South Wales.

Cobalt Blue Holdings declared the results to have demonstrated strong continuity of cobalt mineralisation along both strike and down dip of previous drilling carried out at Railway.

The company said the assays boost the potential for it to enhance the project Mineral Resource supporting the transition from an Inferred to an Indicated Resource, in line with an ongoing Pre-Feasibility Study (PFS).

The company is currently compiling 2017 drill results into an upgraded resource estimate, which it expects to be released by April 2018.

The latest results come from the first 18 reverse circulation (RC) holes drilled at the Railway deposit.

Best intercepts include:

17THR042
72m at 1,115ppm cobalt, 10.1 per cent sulphur and 9.8 per cent iron from 15m;

17THR045
25m at 1,204ppm cobalt, 9.5 per cent sulphur and 10.6 per cent iron from 154m;

17THR047
18m at 1,145ppm cobalt, 7.5 per cent sulphur and 7.5 per cent iron from 11m;

17THR049
67m at 906ppm cobalt, 9.5 per cent sulphur and 9.1 per cent iron from 64m;

17THR052
20m at 982ppm cobalt, 12.2 per cent sulphur and 11.4 per cent iron from 10m and 113m at 830ppm cobalt, 7.3 per cent sulphur and 7.8 per cent iron from 104m; and

17THR055
41m at 1,096ppm cobalt, 10.4 per cent sulphur and 10 per cent iron from 61m.

The current drilling program totals 75 holes, comprising 16 diamond drill (DD) holes and 59 reverse circulation (RC) drill holes and is designed to upgrade to an Indicated Resource, expand the overall resource base, provide comprehensive geotechnical information and supply sample for additional metallurgical testing.

“The work continues to add substantially to our geological understanding of Thackaringa, with its significant combined strike length of 4.5 kilometres and widths varying from 25 to 100 metres,” Cobalt Blue Holdings chairman Rob Biancardi said in the company’s announcement to the Australian Securities Exchange.

“We look forward to the Indicated Resource upgrade to be released by 1 April 2018.”

Email: info@cobaltblueholdings.com

Website: www.cobaltblueholdings.com

Matsa Resources Defines Gold Zone at Red Dog Project

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THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has completed an initial RC drilling program at the company’s Red Dog gold project in Western Australia.

The project is located 25 kilometres west of the company’s Fortitude gold project where trial mining is underway.

Matsa Resources said the drilling program, which consisted of 103 RC holes aimed at testing historical drilling data and evaluating the economic potential of the project, has confirmed shallow and consistent mineralisation with strong potential for further mineralisation.

Assay results (0.5g/t gold lower cut-off) include:

17RDRC077
6 metres at 155 grams per tonne gold from 6m, including 1m at 921g/t gold from 7m;

17RDRC073
11m at 2.59 g/t gold from 5m;

17RDRC082
14m at 1.97 g/t gold from 3m;

17RDRC029
6m at 4.57 g/t gold from 13m;

17RDRC087
8m at 3.23 g/t gold from 22m;

17RDRC032
8m at 3.11 g/t gold from 4m;

17RDRC081
10m at 2.31 g/t gold from 8m; and

17RDRC072
8m at 2.56 g/t gold from 11m.

“The results highlight a near surface, relatively flat lying and continuous zone of mineralisation one metre to 14 metres thick and typically from three metres to 10 metres below surface,” Matsa Resources said in its ASX announcement.

“Mineralisation remains open in several directions.

“Gold mineralisation is hosted within an altered basalt with associated silica, hematite and pyrite alteration.”

The Red Dog gold project consists of three granted mining leases (MLs): M39/38, M39/1099 and M39/1100 for a total area of 81.6 hectares that contain historical drilling results Matsa believes highlights potential for a near term, shallow mining operation.

Matsa is now working to determine the economic potential of the Red Dog gold project and is determining a resource estimate.

Flora, fauna and heritage surveys have already been completed.

Website: www.matsa.com.au

Alliance Resources Confirms High-Grade Gold at Weednanna Target 4

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THE DRILL SERGEANT: Alliance Resources (ASX: AGS) reported provisional results for the third round of reverse circulation (RC) drilling carried out recently at the Weednanna gold prospect.

The weednanna prospect is part of the Wilcherry Project Joint Venture between Alliance (61.36%) and Tyranna Resources Ltd (ASX: TYX) (38.64%).

Alliance Resources completed the RC drilling program in early November, which was designed to define the geometry of Targets 1, 2 and 3 with step-out drilling and to test the new Target 4 with initial drilling by Alliance.

A total of 21 RC holes were drilled with nine holes reporting intercepts of greater than one gram per tonne gold and four holes returning greater than 50g/t-m gold.

Results included:

17WDRC067 (Target 4)
16 metres at 22.11 grams per tonne gold from 104m;

17WDRC057 (Target 2)
8m at 14.52g/t gold from 60m;

17WDRC051 (Target 1)
48m at 2.37g/t gold from 44m, including 24m at 3.91g/t gold from 44m; and

17WDRC070 (Target 4)
4m at 16.7g/t gold from 80m.

“These results, in particular the high-grade results from Target 4, confirm our view that Weednanna is a growing gold system that demonstrates significant potential for the discovery of further high-grade gold shoots,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au

Calidus Resources Confirms High-Grade Gold Across all Prospects

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported that diamond drilling has confirmed the presence of high-grade gold at all the company’s prospects located in the Pilbara of Western Australia.

Calidus Resources said it had encountered high-grade gold across its Klondyke, Copenhagen, Coronation and Fieldings Gully prospects.

The company will soon commence an accelerated drilling program to follow up these results.

Calidus said visible gold observed during geological logging had been confirmed by high-grade assays in all three core holes drilled at Klondyke.

Wide high-grade mineralisation was confirmed in core drilling at the Copenhagen, Coronation and Fieldings Gully satellite deposits, all located within 10 kilometres of Klondyke.

Drilling intercepts include:

Klondyke

17KLDD001

25 metres at 3.41 grams per tonne gold from 88m

Copenhagen

17CPDD001

6m at 7.74g/t gold from 70m

17CPDD002

4m at 7.46g/t gold from 56m

Coronation

17CRDD001

10m at 3.31g/t gold from 108m

Fieldings Gully

17FGDD001

10m at 9.68g/t gold from 85m.

The company indicated that preparations for extensional drilling at Klondyke East, Fieldings Gully and Copenhagen have commenced, with the aim of completion by end of year.

“We have successfully intersected multiple high-grade gold intercepts at all of our satellite deposits drilled to date, in addition to a wide high-grade zone in the middle of the Klondyke resource,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This ongoing regional exploration in proximity to Klondyke continues to reveal exceptional results which provides further support for the potential for significant new discoveries and additional resource ounces at Klondyke and within the existing tenement portfolio.

“In light of these exceptional results, we have expanded our previously announced Klondyke East drilling to target extensions of the recently drilled Fieldings Gully and Copenhagen deposits with drilling due to commence at the end of this week.

“With drilling due to commence again imminently and our resource upgrade on track for delivery this year, we continue to aggressively define this large, shear hosted gold project which we believe will support a stand-alone gold development in the future.”

Email: info@calidus.com.au

Website: www.calidus.com.au