Vital Metals Increases Tardiff MRE Tonnage

/in , /by

THE DRILL SERGEANT: Vital Metals (ASX: VML) reported an updated Mineral Resource Estimate (MRE) for the Tardiff Upper Zone deposit, part of the company’s Nechalacho rare earths project in Canada.

Vital Metals said the updated MRE for Tardiff demonstrates a notable lift in the contained Neodymium and praseodymium (NdPr) in the total resource in comparison to an estimate the company had released in February 2023.

The updated MRE features a total resource tonnage (across all categories) of 212.7 million tonnes at 1.17 per cent total rare earth oxide (TREO) containing 2.48 million tonnes TREO, including more than 623,000 tonnes of NdPr.

“Deposit size and grade matters and Nechalacho’s world-class character is reinforced with our latest MRE for the Tardiff deposit, which shows its sector impact potential, particularly within a North American perspective, and is highlighted by the substantial increase in contained neodymium-praseodymium oxide, or NdPr, to more than 623,000 tonnes,” Vital Metals managing director and CEO Geordie Mark said in the company’s ASX announcement.

“We believe that Tardiff is an outstanding asset, given that it represents a shallow deposit hosted within a single pit-constrained resource with a high NdPr:TREO ratio (~25%), and a size that affords potential for project size and scalability of production over a protracted period.

“We will continue to deliver a range of catalysts over the course of the year, with more Tardiff drill results expected over the next few months, where high-grade mineralization remains open in several directions out from the 2023 drill grid perimeter.

“These data and updated geological interpretations will form the basis of targeted metallurgical work to inform a Scoping Study to be completed in late 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Corazon Mining Defines New Mt Gilmore Porphyry Copper-Gold Target

/in , /by

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has defined a new, large-scale, high-priority porphyry copper-gold target at the company’s Mt Gilmore project in New South Wales.

Corazon Mining explained the new target, known as the May Queen target lies adjacent to the historically identified May Queen copper-magnetite skarn deposit.

The company described it as being a feature of approximately two kilometres in strike, located in the northern extent of the Mt Gilmore Trend, which Corazon has defined as a copper-cobalt gold trend over 20 kilometres in length, considered prospective for intrusion-related copper-gold deposits.

Corazon is of the opinion that large, regional-scale and complex geochemical anomalies like Mt Gilmore are well suited to mineral chemistry targeting programs, rather than conventional geophysics and blind drilling.

To this end the company had a geochemical program undertaken at Mt Gilmore by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania (UTAS) to define higher confidence drill targets.

The program found the May Queen target displays favourable hydrothermal alteration, along with coincident surface copper-in-soil and geophysical anomalism.

Corazon has commenced planning for a maiden drill program at May Queen, which will include access requirements and all drilling approvals.

“The results of our body of work with CODES at UTAS has been a great success for the company, and our exploration of the Mt Gilmore project,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“The geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment.

“Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on.

“We’re hoping the targeting process completed has mitigated the need to do this.

“Mt Gilmore displays many characteristics typical of large porphyry copper systems, and the outcomes of the work by CODES has helped define what is interpreted as a high-priority drill target at the May Queen prospect.

“Drilling of the May Queen will now be a high-order priority for the company.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Dreadnought Resources Scores Drilling and Geophysical Results from Tarraji-Yampi

/in , /by

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) supplied assay and geophysical results from RC and diamond drilling at the Tarraji-Yampi project, located in the Kimberley Region of Western Australia.

Dreadnought Resources took receipt pf assays and downhole EM (DHEM) results have been received for 11 RC holes and two diamond holes drilled at Tarraji-Yampi in late 2023 that has delivered additional mineralisation and geological understanding for the project.

Two EIS co-funded diamond holes (KMRD056 and KMRD057) intersected laminated, brecciated and semi-massive sulphides extending mineralisation at the Orion deposit a further 100m down dip remaining open at depth and along strike.

Intercepts include:

KMRD057
4.2 metres at 1 per cent copper, 15.1 grams per tonne silver, and 0.01 per cent cobalt from 213m and 0.42m at 1.1 per cent copper, 2.7 per cent zinc, 80g/t silver and 4.1g/t gold from 257.82m; and

KMRD056
1.35m at 1 per cent copper, 0.01 per cent cobalt from 198.6m.

Dreadnought’s modelling of DHEM results from KMRD056 has demonstrated a conductive horizon that sits within a larger (300m x 230m) and highly conductive horizon that extends to the 500m depth of the Orion geophysical anomaly.

“The 2023 drilling program in the Kimberley was challenging and cut short due to unseasonable weather, bush fires and rig breakdowns,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“However, the program still delivered an extension to the Orion mineralisation and confirming mineralisation and or identifying significant off hole conductors from many of the holes drilled.

“And, thanks to the GSWA’s co-funded Exploration Incentive Scheme diamond holes drilled at Orion, there has been significant advancements in the understanding of the mineral systems active at Tarraji-Yampi including that Orion is a copper-gold-VMS system, similar to Degrussa in the Bryah Basin, which will improve our targeting and follow up programs.

“The program remains largely incomplete as originally intended and we look forward to applying our learnings and prioritizing targets for testing in 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Galan Lithium Increases HMW Resource to 8.6Mt LCE

/in , /by

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) managing director JP Vargas de la Vega eventually flew into Singapore in time for the company to announce an increase to the JORC (2012) reported Mineral Resource estimate for the company’s’ Hombre Muerto West project located in Catamarca Province, Argentina.

Galan Lithium has now increased its 100 per cent-owned Mineral Resources to 8.6 million tonnes of contained lithium carbonate equivalent (LCE) at 859mg/L lithium (previously 7.3Mt LCE @852mg/L Li).

The company has declared this to now be one of the highest-grade resource estimates in Argentina.

“This latest significant upgrade in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan’s 100 per cent-owned tenements in Argentina,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“The initial HMW resource in March 2020 was 1.08 million tonnes LCE at 946mg/L lithium, upgraded in May 2023 to 6.6 million tonnes LCE at 880mg/L lithium.

“This has now been increased a further approx. 20 per cent to a tier one size of 8.6 million tonnes LCE at 859mg/L lithium, with the inclusion of our Catalina tenements.

“Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60,000 tonnes pe annum LCE.

“The HMW Project is robust and underpinned by strong financial metrics as illustrated in its Stage 1 and Stage 2 DFS results.

“We constantly evaluate opportunities to increase the value of the HMW Project in parallel with continuing to construct Stage 1 as we look forward to first commercial production in 1H 2025.”

The updated HMW Mineral Resource was supported by new core porosity data from Santa Barbara, Casa del Inca III and Del Condor tenements.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caspin Resources Confirm New Brassica Prospect Drill Targets

/in , /by

THE DRILL SERGEANT: Caspin Resources (ASX: CPN) has identified two new conductors having run a moving loop electromagnetic (MLEM) survey at the Brassica prospect within the company’s Yarawindah Brook project in Western Australia.

Caspin Resources ran the survey over an area of five square kilometres, comprising 454 stations, across a large nickel-copper-PGE mineralised mafic-ultramafic intrusive complex along the stratigraphic extension of rocks hosting Chalice Mining’s Gonneville deposit.

The company said it had been encouraged by the geological context of the new conductors adding that supporting datasets have indicated potential for the conductors to be related to a mineralised magmatic sulphide source.

“This is a significant development for the Yarawindah Brook project, as it confirms the prospectivity of the Brassica Shear Zone, which has been only lightly explored compared to the company’s efforts at the Yarabrook Hill prospect,” Caspin Resources managing director Greg Miles said in the company’s ASX announcement.

“The recognition of EM conductors within what was already a conceptually prospective geological setting is highly encouraging.

“There are now several independent datasets that indicate excellent potential for nickel-copper-PGE mineralised sulphide.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Flynn Gold Identifies Firetower Strike and Depth Potential

/in , /by

THE DRILL SERGEANT: Flynn Gold (ASX: FG1) brought market watchers up to date on recent activities at the company’s 100 per cent-owned Firetower project located in northwest Tasmania.

Flynn Gold took receipt of final assay results from a four-hole diamond drilling program undertaken at the Firetower polymetallic (gold-cobalt-tingsten-copper) prospect in December 2023 that entailed extension tails to three historical diamond holes and one new hole drilled.

The company explained the short drill program was designed to test for depth/strike extensions to historically drilled polymetallic mineralisation, and to provide stratigraphic and structural information to assist geological evaluation of controls to high-grade mineralisation.

“The drilling program was successful in testing for depth extensions of the main mineralised zone and providing key geological and structural information which greatly improves our understanding of the controls to high-grade mineralisation at the Firetower project,” Flynn Gold managing director and CEO Neil Marston said in the company’s ASX announcement.

“Our initial review of the project generated depth extension targets that we started testing with an initial four-hole drill program in November 2023.

“Previous drilling at Firetower has been generally shallow across a limited strike length, with very few holes extending beyond 100 metres from the surface.

“Several historic drill holes reportedly ended in mineralisation.

“These early results demonstrate the continuity of polymetallic mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Matsa Resources Achieves Further High-Grade Gold Assays From Devon Pit Gold Mine

/in , /by

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) reported results from drilling undertaken at the Devon Pit Gold Mine, situated within the company’s Lake Carey gold project south of Laverton in Western Australia.

Matsa Resources has received the final results for a 53 reverse circulation (RC) drill hole program completed in September 2023 at the Devon Pit Gold Mine.

The company declared the drilling results had continued to return strong intercepts, providing support to recent updated studies to recommence open pit mining at the Devon Pit Gold Mine.

Drilling results from the West Lode have again returned consistent high-grade intercepts.

Matsa is progressing permitting as it investigates potential mine design and pit scheduling options that could provide early cash flow.

Permitting applications for development and mining at the Devon Pit Gold Mine have been lodged with several approvals already granted.

“The results of the drilling are pleasing in that they confirm our modelling,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“Having said that, we are hoping these new high-grade intercepts from the West Lode will give us an uplift.

“Whilst the Main Lode was mined as recently as 2016, the West Lode has seen no mining activity since the 1920s where three small shafts were sunk on what appears to be high-grade shoots.

“These shafts are not very deep and with these new drilling results, we’re confident the West Lode will be a significant contributor to the mining operation.

“Importantly, ore from the West Lode is expected from surface.

“Our studies to date have demonstrated a potential mine that produces in excess of 250,000 tonnes at over four grams per tonne which is exciting.

“Earlier this month, Matsa signed a Heads of Agreement with BML Ventures Pty Ltd to formalise a mining contract for the Devon Pit Gold Mine.

“We are expecting this to be signed and sealed in the coming days and I’m very excited about that because it will generate cash flow for Matsa.

“With the recent approval of our dewatering application, we now only have a couple more approvals required before mining can commence and we are expecting these approvals in the coming months.

“The recent rains have delayed the final flora survey planned for late March by a few weeks which is unfortunate.

“This final survey is required for the mining application to be processed and, other than timing of this field work, we don’t see an adverse impact to our schedules.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Cygnus Metals Rock Chips Reveal Sakami Project LCT Pegmatite Indicators

/in , /by

THE DRILL SERGEANT: Cygnus Metals (ASX: CY5) has been encouraged by recent exploration efforts carried out at the company’s Sakami lithium project in James Bay, Quebec.

Cygnus Metals conducted its first exploration program at Sakami entailing collection of 85 pegmatite rockchip samples on wide spaced regional traverses.

Results from this work have identified highly fractionated pegmatites forming a coherent trend over four kilometres of strike which remains open in all directions.

This includes anomalous LCT pegmatite pathfinder results of up to 130ppm tantalum, 154ppm tin and 261ppm caesium alongside favourable K/Rb fractionation ratios as low as 22.

“These are exciting results from Sakami and very similar to fractionation trends we saw at the Auclair project, which resulted in two spodumene-bearing pegmatite discoveries,” Cygnus Metals managing director David Southam said in the company’s ASX announcement.

“It is important to point out that exploration was severely restricted last year at Sakami with the extreme wildfire season and then early snow.

“As such, much of the project remains unexplored with significant potential to make a discovery this season.

“The company remains highly active in James Bay with exploration programs planned for all projects, including our follow up prospecting at Sakami.”

Cygnus Metals plans an active exploration season for James Bay in 2024 and has prioritised follow-up prospecting at the Sakami project on the back of recent efforts and what it considers unexplored potential of the greenstone belt.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Miramar Resources Ground EM Surveys Outline Multiple Bangemall Drill Targets

/in , /by

THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has identified multiple drill targets at the company’s 100 per cent-owned Mount Vernon and Trouble Bore projects in the Gascoyne region of Western Australia.

Miramar Resources made the identification via ground electromagnetic (EM) surveys comprising a mixture of Fixed Loop (FLTEM) and Moving Loop (MLEM) methods that tested five airborne EM anomalies within the Mount Vernon and Trouble Bore projects.

The company said the survey confirmed and refined each of the airborne EM anomalies and outlined large shallow conductive drill targets consistent with its Norilsk-style nickel-copper-cobalt-PGE deposit model.

“The company is excited about the district-scale opportunity evolving within the Bangemall projects and we look forward to the maiden drilling campaign,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Whilst many nickel producers are under pressure at the moment, mafic intrusion-hosted deposits such as Nova and Nebo Babel can be large and very valuable, due to the mix of metals present, which makes them immune to short-term fluctuations in the nickel price.

“At Mount Vernon and Trouble Bore, we are seeing all the ingredients needed for the formation of this type of deposit.

“We have nickel and copper-bearing dolerite sills intruding into sulphidic sediments, evidence of differentiation, including mafic cumulate rocks, and indications of accumulations of conductive sulphides within and/or beneath the sills.”

Miramar explained its initial aim is to show ‘proof of concept’ of its Norilsk-style deposit model by discovering nickel-copper-cobalt-PGE sulphide mineralisation.

This has been its objective over the past 24 months as it has progressed from regional-scale area selection to collection of project-scale datasets and, more recently, to delineation of individual drill targets.

Upcoming work is to include systematic rock chip sampling and preparation for the initial drilling campaign.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Larvotto Resources Intersects Visible Gold at Hillgrove Project

/in , /by

THE DRILL SERGEANT: Larvotto Resources (ASX: LRV) got excited by its first diamond drilling program at the company’s newly acquired, 100 per cent-owned Hillgrove gold-antimony project near Armidale in New South Wales.

Larvotto Resources carried out the drilling targeting extensions to the high-grade gold and antimony mineralisation identified in drilling undertaken in 2022.

The company said the new drilling had revealed numerous zones of visible gold in quartz-carbonate breccias and quartz-carbonate veins associated with wider carbonate altered breccias that also hosted visible stibnite mineralisation.

Assay results are not yet available but are anticipated for delivery in early April.

“The diamond drilling program at Bakers Creek was always a priority, aimed at building on the significant high-grade intercepts from drilling undertaken in 2022,” Larvotto Resources managing director Ron Heeks said in the company’s ASX announcement.

“It was pleasing to complete the program so quickly and note numerous instances of visible gold across multiple sections of the drill core.

This suggests the potential to mirror historic high-grade results, such as the 0.45 metres at 257 grams per tonne gold previously reported at Bakers Creek.

“Identifying visible gold in the deeper part of the Hillgrove system helps confirm that it may be geologically similar to the high-grade gold and antimony systems identified at the Costerfield Mine operated by Mandalay and the high-grade gold mineralisation identified by Southern Cross Gold in Central Victoria.

“Larvotto is working to deliver an initial Ore Reserve Estimation at Hillgrove in the near term from its significant Mineral Resources.

“This being at a time of a record AUD gold price and near record antimony price.

“Drill core is currently being cut for assay, with initial results expected in early April and we look forward to moving closer to releasing an initial resource for Bakers Creek mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE