Kairos Minerals confirms high-grade lithium and tantalum at Mt York

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THE DRILL SERGEANT: Kairos Minerals (ASX: KAI) has received analytical results from an initial campaign of reconnaissance rock chip sampling recently undertaken at the company’s Mt York lithium-gold project.

The project is located in the emerging lithium-endowed Pilgangoora Region of Western Australia’s East Pilbara.

Kairos said the samples from its recent work had returned encouraging results of up to 2.22 per cent lithium oxide Li₂O and 0.44 per cent tantalum oxide Ta₂O₅.

The company has also checked historical mapping and drilling, which it said confirmed the presence of both outcropping and subsurface pegmatites throughout the project area.

The majority of pegmatite targets identified from radiometric and aeromagnetic data interpretation Kairos has reported previously have not been subject to drilling, however the company indicated these remain priority targets.

“The initial results from Mt York highlight the project’s immense lithium potential,” Kairos Minerals managing director Joshua Wellisch said in the company’s announcement to the Australian Securities Exchange.

“These results are extremely strong and demonstrate that Kairos’ strategy to pursue lithium exploration at Mt York has the potential.

“Intensive groundwork including mapping, rock chip and soil sampling continues to refine high-priority targets in preparation for imminent drilling.”

Website: www.kairosminerals.com.au

Southern Gold intersects mineralised alteration zones at Tooting Bec

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THE DRILL SERGEANT: Southern Gold (ASX: SAU) recently completed a program of seven Reverse Circulation (RC) drill holes at the Tooting Bec prospect, on the company’s 100 per cent-owned mining lease E25/349 in Western Australia.

The drilling was carried out to evaluate anomalous gold grades within several historical RAB drill holes at the Tooting Bec prospect, which is located two kilometres southwest of the Cannon Gold Mine some 30km to the East of Kalgoorlie.

The seven RC holes were drilled on two sections and intersected a 200m wide sequence of basalts intercalated with narrow intervals of variably silicified, graphitic sediments.

Southern Gold said the gold grades intersected by the recent Tooting Bec drilling demonstrate the drilling program intersected the margin of a mineralised system associated with a granodiorite intrusion to the east.

Two intervals of anomalous composite samples (>0.1g/t) were returned in the assays recording a best intercept of:

BSRCD259
20 metres at 0.35 grams per tonne gold from 63m.

The company explained individual samples from these intervals are in the process of being submitted for analysis and the results will be reported as soon as they are available.

“The RC drill results from Tooting Bec are very encouraging and hint at a much larger mineralised system than previously thought,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“The identification of a relationship between magnetite alteration and elevated gold grades provides Southern Gold with a new style of target in the Cannon area and while these first pass RC drill results are sub-economic, the width and consistent elevated tenor of the gold grades point to the possibility of us finding something of larger scale.

“As always, it comes down to more drilling!”

Email: info@southerngold.com.au

Website: www.southerngold.com.au

Varsican Mines releases Porte-aux-Moines Resource

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THE DRILL SERGEANT: Variscan Mines (ASX: VAR) announced a maiden JORC 2012-compliant resource calculation for the Porte-aux-Moines (PAM) volcanogenic massive sulphide (VMS) deposit within the company’s Merléac exploration licence in Brittany, France.

The JORC Mineral Resource has been calculated at:

2.2 million tonnes at 6 per cent zinc, 1.3 per cent lead, 0.8 per cent copper, 80.6 grams per tonne silver and 0.9g/t gold.

Varsican said the overall resource grade to be equivalent to 13.6 per cent zinc, (for just over 300,000 tonnes zinc metal equivalent), which according to the company, places the deposit within the first grade quartile for zinc-rich deposits worldwide.

“Despite the large amount of previous exploration and the relatively well defined nature of mineralisation within the central section of the deposit, much of the resource has been classified as Inferred, primarily reflecting the uncertainty of the precise density (SG) of mineralisation due to the modest number of density measurements completed,” Varsican Mines said in its ASX announcement.

“In addition, drill hole spacings, particularly in the shallow parts of PAM are wide and require infill work to upgrade confidence levels.

“These will be addressed in future drilling programs.”

Website: www.varsican.com.au

Metalicity applies to extend Admiral Bay tenement holding

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has submitted six new exploration licence applications (E04/2443-2448) surrounding the company’s existing Admiral Bay zinc project in Western Australia.

The new applications cover an area of 3,300 square kilometres along a total strike length of approximately 130 kilometres of the Admiral Bay Fault zone in the central Canning Basin.

Once granted they will swell the total size of Metalicity’s tenement package over the Admiral Bay project area to 3,678sqkm.

This area includes two mining leases (M04/244 and M04/249) that cover the existing mineral resource estimate for Admiral Bay of 111.3 million tonnes at 5.7 per cent zinc equivalent for 6.34 million tonnes of contained zinc equivalent.

Metalicity made the applications on the back of recent geological study work carried out by Dr David Leach, a globally recognised expert in Mississippi Valley Type (MVT) zinc-lead deposits, which highlighted the potential for district wide mineralisation.

Metalicity is als reviewing existing work of previous petroleum exploration companies to gain an understanding of the potential trap sites for zinc and lead mineralisation along an extended 130km strike length of the Admiral Bay Fault zone.

Metalicity believes there is potential for multiple Admiral Bay size mineral resources along the Admiral Bay Fault zone and has moved quickly to secure this ground.

“A review of historical regional drill hole data and intensive study work with global MVT experts substantiates Metalicity’s view that the Admiral Bay zinc project is a district wide base metal opportunity,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“Once granted these tenements will be 100 per cent-owned by MCT and unencumbered.”

Website: www.metalicity.com.au

Doray Minerals extends Wilber and Judy lodes at Andy Well

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THE DRILL SERGEANT: Doray Minerals (ASX: DRM) has extended high-grade gold mineralisation at both the Wilber and Judy orebodies at the company’s Andy Well gold project near Meekatharra in Western Australia.

The extensions have come courtesy of recent underground diamond drilling undertaken by Doray at Andy Well as part of an ongoing campaign to delineate and extend mineralisation at the three main high-grade orebodies at the project.

Drilling is being carried out with up to three underground diamond core rigs at any one time and has so far focussed on extending and infilling high-grade gold mineralisation on the Wilber, Judy and Suzie lodes.

Following on from previous results released for both the Wilber and Judy South lodes the drilling has targeted steep northerly plunging high-grade shoots at all lodes.

The drilling at the Wilber and Judy lodes has encountered high-grade mineralisation below the current mining operations.

Assays received to date include:

WBUG0977
2.6 metres at 41.3 grams per tonne gold from 369 metres downhole (mdh) (True Width approx. 0.6m) (Wilber Lode);

WBUG1018
1.7m at 32.5g/t gold from 131.8mdh (True Width approx.0.7m) (Wilber Lode);

WBUG0990
1.5m at 42.8g/t gold from 243.7mdh (True Width approx.0.4m) (Wilber Lode);

JDUG0106
0.6m at 92.3g/t gold from 141.5mdh (True Width approx.0.3m) (Judy South Lode);

JDUG0109
1m at 95.4g/t gold from 127.3mdh (True Width approx.0.8m) (Judy South Lode);

JDUG0110
2.3m at 64.9g/t gold from 176.5mdh (True Width approx.1.5m) (Judy South Lode);

SZUG0031
0.6m at 191.4g/t gold from 222.8mdh (True Width approx.0.3m) (Suzie Lode);

SZUG0050
2.3m at 21g/t gold from 247.7mdh (True Width approx.0.8m) (Suzie Lode); and

SZUG0033
1.1m at 15.2g/t gold from 214.3mdh (True Width approx.0.5m) (Suzie Lode).

“Results have provided confidence in the persistence of these high-grade north-plunging shoots present through all three orebodies currently identified at Andy Well,” Doray Minerals said in its ASX announcement.

“In particular, drilling previously completed at Judy (MNDD158 – 0.5m at 17.3g/t gold) demonstrated the persistence of this high-grade mineralisation at depths of approximately 800 metres below surface.

“Mineralisation has now been delineated at depths of over 750 metres within the Wilber Lode and approximately 800 metres within the Judy Lode.

“Current mining activities are presently at approximately 250 metres below surface at Judy, and approximately 450 metres below surface at Wilber, demonstrating the significant additional potential that exists below the current mining operations.”

Doray has drilling ongoing at both Wilber and Judy testing further extensions of the Wilber Lode, as well as Judy South and North.

The company anticipates using drilling results to update the Mineral Resource and subsequent Ore Reserve for Andy Well as part of the Annual Resource and Reserve Statement.

Doray also highlighted Suzie as a target for further drilling to test concepts regarding more prospective positions on the host structure.

These positions will be tested as part of drilling in the new financial year.

Website: www.dorayminerals.com.au

Rox Resources claims ‘world-class’ zinc discovery at Teena

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) announced a zinc-lead maiden Inferred Mineral Resource for the – “world-class” Teena zinc-lead deposit, located eight kilometres west of the McArthur River zinc-lead mine in the Northern Territory.

Rox declared the Inferred resource to have confirmed what has thought for some time – that  the Teena deposit represents the largest and highest grade zinc-lead mineral resource discovered in Australia for over 20 years.

Utilising a six per cent zinc-lead (Zn+Pb) cut-off, the JORC (2012) Inferred Mineral Resource is:

58 million Tonnes grading 12.7 per cent Zn+Pb (11.1 per cent zinc, 1.6 per cent lead) for 7.4 million tonnes of contained zinc and lead metal (6.5Mt Zn and 0.9Mt Pb).

“This is a world-class Mineral Resource with the estimated tonnage and grade of Teena comparable to other giant zinc-lead resources globally,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“Teena has zinc grades as high as currently operating mines at McArthur River, Mt Isa and previously at Century.

“Teena contains a total of 16.3 billion pounds of zinc and lead metal (14.2 billion pounds zinc, 2.1 billion pounds lead), which in terms of contained metal exceeds the endowments of either the Cannington or the Dugald River deposits.

“The value of this project to Rox, currently being a 49 per cent interest, but ultimately a 30 per cent interest after Teck completes its earn-in, can be compared favourably with other companies with minority interests in significant projects, such as Independence Group’s 30 per cent of Tropicana, Talisman’s 30 per cent of Monty, and Creasy Group’s original 30 per cent (now sold) of Nova.

“All of these have significant value, just like Rox’s interest in Teena has.”

Rox explained the zinc-lead mineralisation at Teena occurs as two sub-parallel lodes, termed the Lower Lode and the Upper Lode.

The Upper Lode is thicker and higher grade than the Lower Lode.

At a six per cent Zn+Pb cut-off grade the Inferred Mineral Resources for each lode are estimated to be:

Upper Lode:
45 million tonnes at 13.7 per cent Zn+Pb (12 per cent zinc, 1.8 per cent lead); and

Lower Lode:
14 million tonnes at 9.4 per cent Zn+Pb (8.2 per cent zinc, 1.2 per cent lead).

From 1961 a total of twenty-two drill holes have been completed at Teena, 17 of which have intersected mineralisation used to define the Mineral Resource.

Rox believes it is likely the Mineral Resource will grow by further drilling, especially along the margins of the deposit.
The Teena deposit forms part of the Reward zinc-lead project, subject to an option/joint venture agreement between Rox and Teck Australia Pty Ltd, a subsidiary of Teck Resources Limited.

The JV is currently owned 49 per cent by Rox and 51 per cent by Teck.

Teck has the option to increase its JV interest to 70 per cent by spending up to $15 million in total by 31 August 2018.

As at 31 March 2016 Teck had spent approximately $13.85 million.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Tyranna Resources claims new Jumbuck gold discovery

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THE DRILL SERGEANT: Tyranna Resources (TYX: ASX) has claimed a new gold discovery at the company’s Jumbuck project in the Northern Gawler block of South Australia.

The discovery – to be known as the Greenwood prospect – stems from the receipt  of assay results from the first 21 reverse circulation (RC) drill holes carried out at the project’s Mainwood prospect.

These holes (16MWRC001 to 16MWRC21) are the first half of a 42 RC hole program planned at Mainwood.

The remaining 21 holes are currently being drilled.

Tyranna said that when the drilling at Mainwood is completed the rig will be moved to the Camp Fire Bore prospect to complete the overall 6,200 metres planned for this first phase of drilling.

The drilling has encountered three Intercepts over 75 metres strike extent, which remain open ended of:

2 metres at 7.94 grams per tonne gold from 41m down hole, including 1m at 14.1g/t gold from 41m;

3m at 2.45g/t gold from 31m down hole; and

2m at 2.36g/t gold from 30m down hole.

“The discovery of the Greenewood prospect now opens up a new front for the further discovery of near surface gold resources, which will help in achieving Tyranna’s stated goal of attaining over 500,000 ounces of gold, in resource, by the end of 2016,” Tyranna Resources said in its ASX announcement.

“The discovery also opens up the possibility that the new Greenewood prospect may be linked, not only to the Mainwood prospect 800 metres to the South West, but also to the Camp Fire Bore prospect to the North.

“With like rock types, of similar ages in the same geological setting, the increasing geological similarities of the Jumbuck terrain with the linear to curvilinear bodies of the Tropicana deposits in the Albany/ Fraser Ranges of Western Australia are becoming increasingly evident.”

Email: info@tyrannaresources.com

Website: www.tyrannaresources.com

Azure Minerals puts drilling pedal to the metal

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has picked up the pace of ongoing diamond drilling at the company’s Alacrán project in Mexico following a recent $15 million fundraising.

The company said the fundraising will support a 10,000 metre exploration drilling program, which is to be accelerated with the addition of a second core rig mobilising to site.

There are a number of targets to be tested immediately, which include extensions of the gold mineralised zone at Loma Bonita and high-grade silver mineralisation at Mesa de Plata Norte.

Further drilling scheduled for 2016 will test for gold-silver mineralisation around Puerto del Oro and San Simon as well as precious and base metal mineralisation deeper beneath Loma Bonita.

Additional core drilling will be carried out at Mesa de Plata to collect bulk samples for advanced metallurgical testing and mineral processing studies.

“The strong support shown by investors in the recent fundraising and the current Share Purchase Plan will allow Azure to accelerate both our development and exploration programs,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“With the exploration drilling again underway, after a scheduled pause, I anticipate more good news to come from drilling of the near surface gold mineralised zone at Loma Bonita and also the high-grade silver mineralisation identified on surface at Mesa de Plata Norte.

“Additionally, we expect that deeper drilling at Loma Bonita has potential for the discovery of base metal mineralisation deeper within the feeder system as the typical epithermal / porphyry model predicts.

“We will also be drilling several large diameter core holes into the Mesa de Plata silver deposit to collect bulk samples for metallurgical testing and mineral processing studies to advance the development of this project.”

Email: admin@azureminerals.com.au

Website: www.azureminerals.com.au

Impact Minerals kicks off new drilling at Commonwealth

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THE DRILL SERGEANT: Impact Minerals has commenced a drill program at the company’s 100 per cent-owned Commonwealth project, located 95 kilometres north of Orange in New South Wales.

The program will comprise reverse circulation (RC) and diamond drilling and is to test a number of targets Impact has identified at four prospects: the Commonwealth deposit, Silica Hill, Welcome Jack and Doughnut.

The targets were identified in geological, geochemical and geophysical data sets Impact has collected and compiled over the past 12 to 18 months and in particular as areas of variably overlapping gravity, Induced Polarisation (IP) and soil geochemistry anomalies.

One diamond hole has already been completed to test a small EM conductor at the southern end of the Commonwealth deposit.

According to the company, this hole intersected vein and disseminated mineralisation over a width of six metres at the upper contact of a main rhyolite unit.

Impact described the intersection as being visually similar to base metal mineralisation it has previously encountered in other holes at Commonwealth South.

“Assays are expected in four to six weeks,” Impact Minerals said in its ASX announcement.

“Massive sulphides were not intersected in the hole and the source of the EM conductor has not been found and a down hole EM survey will be required.

“The survey will be completed together with other holes towards the end of the drill program.

“A second diamond drill hole is in progress to test the down dip extension of the centre of the Commonwealth deposit.

In the same announcement, Impact declared it has raised $250,000 via a Placement of approximately 10.4 million shares at 2.4 cents per share to a sophisticated investor arranged by Patersons Securities Limited.

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

Doray to run aeromag survey over Mithril gold target

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THE DRILL SERGEANT: Mithril Resources (ASX: MTH) announced its exploration partner at the Duffy Well gold project, Doray Minerals (ASX: DRM), is to carry out a high-resolution aeromagnetic survey to better define two existing gold targets ahead of a program of RAB / aircore drilling, planned for the September 2016 Quarter.

Duffy Well (EL51/1649) is located in Doray’s neighbourhood, sitting 30 kilometres east of Meekatharra in Western Australia.

It covers an interpreted southern extension of the Gnaweeda Greenstone Belt where Doray has intersected high-grade gold mineralisation in RC drilling at the Turnberry prospect, including:

3 metres at 10.1 grams per tonne gold from 149m;

5m at 17.4g/t gold from 71m; and

4m at 17.9g/t gold from 45m.

“The two gold targets have been identified from a review of previous exploration at Duffy Well (which comprises reconnaissance RAB and aircore drill traverses with little or no follow-up) and are characterised by zones of structural complexity with coincident bedrock gold (+50ppb) and arsenic (+100ppm) anomalism within wide-spaced drillholes,” Mithril Resources said in its ASX announcement.

Doray exploration efforts on the project are part of the terms of a Farm-in and Exploration Joint Venture Agreement, under which it can earn up to an 85 per cent interest by reimbursing Mithril’s tenement acquisition costs and completing exploration expenditure of $500,000 over three years.

Email: admin@mithrilresources.com.au

Website: www.mithrilresources.com.au