Pioneer Resources Releases Sinclair Caesium Zone Mineral Resource Estimate

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THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) released a Mineral Resource Estimate for the Sinclair Caesium Zone, located within the company’s 100 per cent-owned Pioneer Dome lithium-caesium-tantalum (LCT) project in Western Australia.

The Mineral Resource Estimate is 10,500 tonnes of the caesium ore – pollucite – with a grade of 17.1 per cent caesium oxide (Cs2O).

Pioneer Resources completed a program of 22 reverse circulation (RC) drill holes (PDRC088- PDRC109) in January, drilled along strike both north and south of the Sinclair Caesium Zone to test for evidence of further caesium mineralisation.

The company claimed to have intersected “high-value caesium mineral pollucite” at an extension to the Sinclair Zone, taking the mineralised strike length to 70 metres.

Pioneer said geochemical vectors for pollucite were also indicated in the drill information, leading it to declare the Sinclair Caesium Zone to be one of a number of caesium and lithium targets for investigation going forward.

High-grade caesium drill intersections from the January 2017 drilling included:

PDRC090
1 metre at 12.3 per cent caesium oxide (Cs2O) from 48m;

PDRC093
2m at 10.4 per cent Cs2O from 49m; and

PDRC094
3m at 11.5 per cent Cs2O from 49m.

“The Mineral Resource Estimate is a significant step toward the company realising the value of the Sinclair Caesium Zone, which was discovered in September 2016,” Pioneer Resources managing director David Crook said in the company’s announcement to the Australian Securities Exchange.

“Preliminary metallurgy is looking very positive, with a simple process identified that can produce the very high-value, high-density caesium formate brine for use in the Oil and Gas industry.”

Pioneer Resources indicated it is preparing to collect a bulk sample of pollucite for larger scale comminution and metallurgical test work by way of an adit.

Preparation for this work includes a mine design, environmental studies and a safety management plan.

The company has identified other priority exploration targets for caesium and lithium via drilling and soil geochemistry.

Pioneer Resources’ next round of drilling is planned to resume in the June quarter of 2017 with specific holes drilling for geotechnical studies.

Website: www.pioresources.com.au

Peel Mining Claims New Intersections Demonstrate Wirlong Potential

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported drilling results from the company’s 60 per cent-owned Wirlong prospect near Cobar in western New South Wales.

Peel Mining said the recent drilling at Wirlong had returned further encouraging intercepts, including a strong copper mineralised interval at depth (assays pending), extending the down-dip continuity of copper mineralisation to approximately 600 metres below surface.

Peel Mining explained that drillhole WLRCDD043 had been designed to test for mineralisation at approximately 600m below surface, down dip of previously encountered high-grade intersections at Wirlong, including:

WLRCDD015
4.9 metres at 4.3 per cent copper, 13 grams per tonne silver from 402.1m and 22m at 1 per cent copper, 4g/t Ag from 332m;

WLDDD001
9m at 8 per cent copper, 17g/t silver, 0.21g/t gold from 616m and 38m at 1.18 per cent copper, 4g/t silver from 450m;

WLRCDD024
26m at 1.21 per cent copper, 5g/t silver from 227m; and

WLRC035
9m at 3.29 per cent copper, 0.6 per cent zinc, 18g/t silver from 70m.

“Significantly, WLRCDD043 intersected strong copper mineralisation, with preliminary logging showing a 16 metre zone from 749 metres comprising chalcopyrite-rich veins/stringers/breccia,” Peel Mining said in its ASX announcement.

“The true width of mineralisation is interpreted to be approximately 14 metres.

“Logging of the mineralisation shows very pure chalcopyrite with only minor accessory pyrrhotite and pyrite sulphides.

“Assays for WLRCDD043 are pending and expected in approximately four weeks.

“The encouraging initial indications have prompted the decision to drill another hole, WLRCDD044, testing down-dip from WLRCDD043, which is now underway.”

The Wirlong prospect is part of Peel’s Cobar Superbasin project, which is subject to a farm-in agreement with Japan Oil, Gas, Metals National Corporation (JOGMEC).

JOGMEC has earned a 40 per cent interest through expenditure of $4 million, and is now earning a further 10 per cent interest through an additional $3 million expenditure.

Email: info@peelmining.com.au

Website: www.peelmining.com.au

Alloy Resources Working to Identify New Targets at Ophara

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THE DRILL SERGEANT: Alloy Resources (ASX: AYR) reported from continued exploration at the company’s Ophara project located 50 kilometres west of Broken Hill in New South Wales.

Alloy Resources said results from recent RC drilling and historical data compilation had indicated the potential for widespread gold-cobalt mineralisation within the Great Goulbourn project area.

“The company believes that the Great Goulburn prospect has only advanced as a prospect because of some limited areas of outcrop of mineralisation that has been obvious to early explorers,” Alloy Resources said in its ASX announcement.

Alloy Resources explained it was now conducting field checking of GEOTEM anomalies before it makes any decision to complete new EM surveying.

“Satellite photography indicates that many of the interpreted anomalies are in largely unexplored areas and may be suitable for rock chip and/or soil sampling,” “Alloy said.

“Following this field work, the company expects to be able to define priority targets for continued exploration, including RAB and RC drill testing.”

Email: info@alloyres.com

Website: www.alloyres.com

Avalon Minerals Makes Drilling Progress at Viscaria Copper Project

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THE DRILL SERGEANT: Avalon Minerals (ASX: AVI) reported on progress at the company’s Viscaria copper project, located in Kiruna, northern Sweden.

Avalon Minerals said it had logistical preparation underway to advance a diamond drilling campaign at Viscaria to test ‘near mine’ targets the company reported in February 2017.

The company explained the difficulty it had encountered accessing drill rigs in Scandinavia, due to the current high level of exploration in the region, particularly in northern Finland, where copper, nickel and gold targets are being explored by junior and major mining companies.

Avalon said the drilling program will test several targets close to the Viscaria copper deposit and further follow-up drilling is expected to be planned once results are received.

“Ground magnetic surveys in the ‘near mine’ environment are in progress over areas that were not previously surveyed,” Avalon Minerals said in the company’s ASX announcement.

“Interpretation of the results to date is ongoing and once completed will enable further detailed 3-D modelling of magnetite deposits, which are commonly host to copper mineralisation.

“Detailed structural geology studies are also in progress and are aimed at delivering a 3- D structural model that will be used to target interpreted high grade copper zones.”

Avalon Minerals said the work is already providing breakthroughs in identifying thickened magnetite zones and potential higher copper grade feeder zones as well as identifying, and prioritising, new and existing targets within 2.5 kilometres of the Viscaria copper deposit.

Avalon Minerals anticipates providing updates on progress with this work and the drilling program will in early April.

Email: info@avalonminerals.com.au

Website: www.avalonminerals.com.au

Liontown Resources hits Lithium and Tantalum Mineralisation at Kathleen Valley

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THE DRILL SERGEANT: Liontown Resources (ASX: LTR) has intersected zones of lithium-tantalum mineralisation during a maiden drilling program at the company’s Kathleen Valley lithium-tantalum project, located north-east of Perth in Western Australia.

Liontown Resources said the results confirm the potential of the pegmatite swarms at Kathleen Valley to host substantial widths of high-grade lithium and tantalum mineralisation.

Better intersections encountered by the drilling include:

KVRC0015
58 metres at 1.2 per cent lithium oxide (Li2O) and 156ppm tantalum pentoxide (Ta2O5) from 135m, including 9m at 1.8 per cent Li2O and 220ppm Ta2O5 from 141m and 13m at 2 per cent Li2O and 138ppm Ta2O5 from 167m; and

24m at 1.3 per cent Li2O and 139ppm Ta2O5 from 206m, including 3m at 1.6 per cent Li2O and 105ppm Ta2O5 from 208m and 2m at 2.6 per cent Li2O and 271ppm Ta2O5 from 217m and 4m at 1.6 per cent Li2O and 145ppm Ta2O5 from 226m.

KVRC0002
13m at 1.6 per cent Li2O and 114ppm Ta2O5 from 0m, including 9m at 1.9 per cent Li2O and 107ppm Ta2O5 from 2m; and

13m at 1.6 per cent Li2O and 111ppm Ta2O5 from 83m, including 6m at 2 per cent Li2O and 113ppm Ta2O5 from 88m;

KVRC0003
14m at 1.7 per cent Li2O and 163ppm Ta2O5 from 91m including 8m at 2 per cent Li2O and 130ppm Ta2O5 from 97m.

Liontown Resources said the recently completed drilling program at Kathleen Valley comprised a total of 19 Reverse Circulation holes was designed to test the immediate northern extensions of the main mineralised trends at the project, where heritage approvals to drill had been obtained.

“We are very encouraged by these early results, particularly considering that we have yet to test the main target zones, where the thickest pegmatites and strongest grades have been traced at surface,” Liontown Resources managing director David Richards said in the company’s announcement to the Australian Securities Exchange.

“Where we have drilled so far, we have encountered strong zones of continuous lithium-tantalum mineralisation including some very high grade zones of predominantly spodumene-related mineralisation.

“Given the overall scale of the pegmatite swarm at Kathleen Valley and the potential to expand the system, we are looking forward to resuming drilling as soon as possible.”

Email: info@ltresources.com.au

Website: www.ltresources.com.au

Musgrave Minerals Extends Break of Day and Lena Mineralisation

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) couldn’t wait to release assay results for the first four drill holes from a reverse circulation (RC) drilling program currently underway at the Break of Day and Lena gold prospects on the company’s Joint Venture Cue project in the Murchison region of Western Australia.

Extensional drilling at Break of Day has intersected shallow high grade gold including:

17MORC001
11m at 6.8 grams per tonne gold from 23m down hole including, 3m at 12.7g/t gold from 23m.

Musgrave Minerals said the infill drilling at Break of Day has intersected the highest grade result to date of:

17MORC002
1m at 244.1g/t gold from 99m down hole within a broader interval of 6m at 45.5g/t gold from 99m.

At Lena, extensional drilling has intersected high-grade gold near surface beneath the existing oxide resource including:

17MORC005
2m at 7.6g/t gold from 64m down hole; and 

7m at 6.9g/t gold from 80m down hole including, 1m at 42.5g/t gold from 80m.

“This is a fantastic start from the first holes of the new drill program at Break of Day and Lena,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The intersection of new shallow high-grade gold oxide mineralisation at Break of Day and the exceptional high gold grade in hole 17MORC002 are positive for the potential future economics of the project.

“In addition, the extensions of high-grade gold down dip at Lena will enable Musgrave to continue to grow our high-grade resources.”

Musgrave Minerals said the current RC drilling program is continuing and will consist of approximately 40 to 45 drill holes in total with results expected over the next six week period.

The objective of the drilling is to extend and infill the high-grade gold mineralisation at both prospects to complete a new resource estimate in the second quarter of 2017 that will underpin studies to demonstrate a viable near term path to development.

Email: info@musgraveminerals.com.au

Website:  www.musgraveminerals.com.au

Sheffield Resources Releases Thunderbird Reserve Update

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) released an updated Ore Reserve for the company’s Thunderbird mineral sands project, located near Derby in northern Western Australia.

Sheffield Resources said the Ore Reserve forms the basis for the current Bankable Feasibility Study (BFS) due for release by the end of this month.

The Thunderbird Ore Reserve has been updated to 680.5 million tonnes at 11.3 per cent heavy mineral (HM).

Of particular note the amount of material in the highest confidence Proved category, in this updated Ore Reserve has doubled from 115.1 million tonnes to 235.8 million tonnes, with only minor changes to HM and in-situ Valuable HM grades.

“In terms of confidence, grade and tonnage, this Ore Reserve ranks amongst the top tier of mineral sands ore reserves in the world, including those associated with operating mines,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.

“The fact the project is located in one of the world’s best mining jurisdictions, with proximity to quality infrastructure, further enhances Thunderbird as a world class asset.

“In the early stages of any mine development you need certainty and confidence.

“With 97 per cent of the first 10 years of production, and more than one-third of the new Ore Reserve in the highest Proved category, this Ore Reserve delivers that confidence.

“Final touches are being made to the BFS which will be released on schedule by the end of this month.”

Email: info@sheffieldresources.com.au

Website: www.sheffieldresources.com.au

Gascoyne Resources Increases Dalgaranga Gold Reserves

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) updated the Mineral Resource estimate for the company’s 100 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.

Gascoyne Resources noted the updated Resource excludes the recent discovery at the Sly Fox prospect, explaining the Mineral Resource update is for the Gilbeys deposit and includes a maiden Resource for Gilbeys South, less than 10 months after the discovery of the Gilbeys South zone.

The Gilbeys deposit Measured, Indicated and Inferred Mineral Resource now stands at 27.6 million tonnes at 1.3 grams per tonne gold for 1,130,000 ounces of gold.

The Measured and Indicated portion has increased to 16.4 million tonnes at 1.3g/t gold for 685,000 ounces.

The Golden Wings deposit remains unchanged at 2 million tonnes at 1.6g/t gold for 100,000 ounces.

The total Dalgaranga gold project Mineral Resource now stands at 1.23 million ounces (29.6Mt at 1.3g/t gold) with 755,000 ounces in the Measured and Indicated category (17.8Mt at 1.3g/t gold).

Gascoyne Resources said the new resource will form the basis for an updated Ore Reserve, which is expected to be completed in the next few weeks.

The company expects the updated Ore Reserve will be the key input for an updated mine plan, which will form the basis for financial modelling to enable the debt portion of the project financing.

“The updated Resource estimates for Gilbeys to include the Gilbeys South mineralisation is an important step forward for the Dalgaranga gold project as it demonstrates the potential to extend the mine life from the six years envisaged in the November 2016 Feasibility Study to at least seven years, if not more, through exploration success,” Gascoyne Resources managing director Mike Dunbar said in the company’s announcement to the Australian Securities Exchange.

“As part of the Resource update there has been a substantial increase in the oxide and transitional Resources at Gilbeys.

“This will allow a higher mill throughput in the early years of the project, which will assist in reducing costs, increasing operating margins, and is expected speed up the time for capital payback.

“The increase in the Resource confidence is also significant with the Measured and Indicated portion of the Resource increasing to over 750,000 ounces of gold.

“This is expected to underpin an increase to the Ore Reserve for the project which currently sits at over 550,000 ounces.

“Additionally, and just as importantly, the Resource update excludes the recently discovered Sly Fox mineralisation, where exploration has intersected significant widths and grade of mineralisation.

“This new zone has the potential to extend the mine life well beyond the current six to seven years”

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au

Corazon Mining Assays Confirm Fraser Lake Complex Mineralisation

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) released initial assay results from its recent Phase 1 drilling program conducted at the Fraser Lake Complex (FLC), located within the company’s Lynn Lake nickel-copper-cobalt project in Canada.

Corazon Mining said the results it has received to date confirm the intersection of Lynn Lake Mine tenor grade nickel-copper-cobalt mineralisation.

The company said the results support its view that the large mineralised magmatic sulphide system, identified by drilling to date at the FLC, has the capacity to host nickel-copper-cobalt deposits like those which supported mining for decades at the nearby Lynn Lake Mining Centre.

Corazon is focusing on a large induced polarization (IP) chargeable geophysical anomaly (the Matrix Trend) with a defined strike of 600 metres and potential strike of more than 1.5 kilometres.

Initial results of selectively sampled semi-massive to massive zone intersection the company reported in February have identified two discrete intersections of:

1.36 metres at 1.8 per cent nickel equivalent (NiEq) (0.92% nickel, 0.89% copper and 0.07% cobalt); and

1.31m at 1.85 per cent NiEq (1.05% nickel, 0.67% copper and 0.08% cobalt).

Corazon noted the cobalt grades to be nearly double those historically reported at Lynn Lake.

“The company believes the potential exists to identify zones of higher grade mineralisation in the FLC, particularly massive sulphide mineralisation (50% to 100% sulphide content), which will deliver very strong nickel, copper and cobalt results,” Corazon Mining said in its ASX announcement.

“Point Values taken with a hand-held XRF, from the small massive zones and strong sulphide aggregates, returned grades on average between 3 per cent and 4 per cent nickel.

“Cobalt grades returned in the Phase 1 drilling were almost double the grade for corresponding nickel grade rocks within the historical Lynn Lake Mining Centre.

“The company interprets this mineralisation to be a small finger off a larger sulphide body.

“The higher cobalt content supports that the mineralisation is late stage and possibly higher up in the magmatic system.”

Corazon has already commenced the next phase of drilling at the FLC, with the first hole in this program (FLC-2017-008) completed, targeting a strong electromagnetic conductor generated from a recent down-hole electromagnetic survey (DHEM) of hole FLC- 2017-002, some 120m to the southwest.

In conjunction with holes FLC-2017-002 and -003, Corazon’s initial interpretation of hole FLC-2017-008, has identified more than 400m strike of sulphide mineralisation within the Matrix Trend, a zone measuring plus-600m by 120m and open.

“Exploration of the FLC is at an early stage, and the project continues to appreciate in value and deliver impressive results,” Corazon said.

“The discovery of the Matrix Trend is an exciting development and, importantly, represents just one of many priority targets within the intrusion.

“The first three holes into this zone have provided an enormous amount of information that is being fed back into the exploration targeting process.”

Email: info@corazon.com.au

Website: www.corazon.com.au

Investigator Resources Upgrades Nankivel to Drill Target Status

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THE DRILL SERGEANT: Investigator Resources (ASX: IVR) completed a review of drilling carried out in 2016 and an Induced Polarisation (IP) geophysical survey on the Nankivel copper-gold porphyry target.

The Nankivel target is located four kilometres southeast along a structural corridor from the company’s 33 million ounce Paris silver project in South Australia.

Investigator Resources has refined and upgraded the target following the assessment and IP work and is gearing up to conduct drilling to test Nankivel’s potential for porphyry copper-gold mineralisation.

Investigator drilled Nankivel in September 2016, from which results indicated a large porphyry copper system that the company’s geological team predicted as a potential deposit style adjacent to the Paris deposit.

The company explained the upcoming drill program at Nankivel is based on these and further results from three reverse circulation percussion (RCP) holes and the IP survey completed late in 2016.

“Careful comparison of the IP geophysics and drill results from November has enabled Investigator to confidently upgrade the undrilled copper-gold target at Nankivel,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.

“With such good potential for a new copper-gold deposit style in South Australia, Investigator is immediately returning to drill into and around IP targets in the undrilled central area.

“Four 300 metre inclined diamond drill holes are planned to investigate this large porphyry target.

“The first hole is scheduled to begin before the end of this month.

“The drilling will be partially funded by the balance of a PACE drilling grant from the South Australian government.”

Email: info@investres.com.au

Website: www.investres.com.au