Nexus encounters high-grade gold intersections at Pinnacles JV

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THE DRILL SERGEANT: Nexus Minerals (ASX: NXM) announced the results of a seven hole RC drilling program completed at the Pinnacles JV – with Sarcen Mineral holdings (ASX: SAR) – gold project in December 2015.

The company said the program achieved in what it set out to do, that being to test for depth extensions of high-grade mineralisation it had already identified.

From the results, this high grade mineralisation is now known to extend to around 100 metres below the existing JORC resource of 413,000 tonnes at 2.1 grams per tonne gold for 28,000 ounces of gold and remains open at depth and along strike.

Best intersections returned include:

6m at 13.1g/t gold;

8m at 7.7g/t gold; and

11m at 5.6g/t gold.

This was the first RC drilling program completed by Nexus since it entered the JV with Saracen in December 2015.

“We are very excited to have intersected the target zone where modelled, and that significant widths of high grade mineralisation were identified in the Nexus drill holes,” Nexus Minerals chief executive officer Andy Tudor said in the company’s announcement to the Australian Securities Exchange.

“Geological modelling will now take place integrating the Nexus drilling with that of previous operators, resulting in the next phase of drill planning.”

Website: www.nexus-minerals.com

Ventnor Resources stirs up Green Dragon

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THE DRILL SERGEANT: Ventnor Resources (ASX: VRX) has received results from a recent diamond drill program carried out on the company’s Thaduna/Green Dragon copper project in Western Australia.

The drilling was conducted with the aim of at resource definition at the project and was completed by Ventnor’s Joint Venture partner Sandfire Resources (ASX: SFR).

The program comprised six diamond drill holes and two preliminary RC pre-collars.

Best results received were:

TDDD010
11 metres at 4.7 per cent copper and 19.3 grams per tonne silver; and

TDDD013
6.3m at 6 per cent copper and 28.2g/t silver.

Ventnor explained the program had been planned to target gaps in drill hole coverage over the main ore body between known mineralisation intercepts and that all holes had intersected the target zone.

“These diamond holes have intersected the main ore body at Thaduna, with the results meeting our expectations and confirming the predictability and consistency that was indicated by previous resource drilling,” Ventnor Resources managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

Email: info@ventnorresources.com.au

Website: www.ventnorresources.com.au

Gascoyne Resources makes new Dalgaranga gold discovery

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has claimed a new gold sicovery at the company’s Dalgaranga gold project in the Murchison region of Western Australia.

The discovery at the Hendricks prospect stems from the first assay results Gascoyne received from a 10,000 metre aircore exploration drilling program at Dalgaranga.

The Dalgaranga gold project contains a Measured, Indicated and Inferred Resource of 23 million tonnes at 1.4 grams per tonne gold for 1.02 million ounces of contained gold.

The discovery intersection at Hendricks returned:

DGAC303 
11m at 2.2g/t gold from 36m to the end of hole (EOH); and

16m at 0.53g/t, including 4m at 1.48g/t gold from 4m.

Gascoyne indicated the discovery intersection at Hendricks was encountered only three kilometres east of the Gilbeys deposit.

The result was from follow up testing being conducted around an isolated historic shallow RAB hole, which contains an anomalous gold zone of 8m at 0.3g/t gold located in a NE magnetic low trend similar to the Gilbeys shear trend and magnetic signature.

Gascoyne has now completed three aircore lines of drilling at Hendricks, with the new Aircore intersection from 4m composite sampling in drillhole DGAC303 occurring on the southern-most line completed to date.

“We are extremely pleased that our early drilling has already resulted in the discovery of Hendricks, and demonstrates the strong ability for our Dalgaranga project Resources to grow further as we continue drilling other high priority targets in the area,” Gascoyne Resources managing director Michael Dunbar said in the company’s announcement to the Australian Securities Exchange.

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au

Blackham Resources continues to grow Matilda base load ore

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THE DRILL SERGEANT: Blackham Resources has continued to grow the base load source of ore at the company’s Matilda gold project in Western Australia.

Balckham said the latest results it has received from drilling at the Matilda project from a recently completed program of four RC holes and 20 diamond holes is expected to both expand and add further confidence to the free-milling, open pit ore reserves.

The diamond drilling program comprised 20 holes and was designed to provide geotechnical assessment of proposed pit walls and metallurgical samples of oxide, transitional and fresh rock from each of the proposed sub pits.

Results include:

High grade ore confirmed in the base of the M10 pit:
6.8 metres at 12.6 grams per tonne gold from 73m (MADD0027);

1.6m at 11.4g/t from 86m (MADD0036)

Broad ore zones within and extending the M3 & M4 orebodies:
35.8m at 1.85g/t from 130m (MADD0032);

14m at 3.26g/t from 87m (MADD0024);

24m at 1.78g/t from 83m (MARC0309);

1.7m at 11.6g/t from 35m (MADD0028);

2.8m at 6.06g/t from 123m (MADD0030);

2.5m at 5.15g/t from 105m (MADD0037).

Broad ore zones within the M1 & 2 orebodies:
12.6m at 2.96g/t from 68m (MADD0029);

19.3m at 1.66g/t from 115m (MADD0031).

Blackham considers the Matilda Mine to be an important source of open pit ore that will provide base load ore for the recommissioning of the Wiluna Plant, which is anticipated to commence around mid-2016.

The base load Matilda ore will be supplemented with high-grade quartz reefs for an estimated average feed grade of 2.8 grams per tonne gold.

“Blackham’s Matilda mine orebodies continue to grow in size,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“The Matilda mine is a very important source of base load oxide ore that we will use to recommission the Wiluna gold plant around the middle of the year.

“The Wiluna gold plant has not had a base load oxide feed for many years which gives Blackham a very significant comparative advantage over previous operators.

“Resource extensional drilling at Matilda, Golden Age and Galaxy is ongoing with a view to growing the mine life further prior to starting production.”

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

Peel Mining claims new Cobar copper discovery

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) has claimed a copper discovery at the Wirlong prospect – located within the company’s Cobar Superbasin project (Peel Mining Ltd 100%; Japan Oil, Gas, and Metals National Corporation (JOGMEC) earning up to 50%) in central New South Wales.

The company said recent drilling at Wirlong, funded by JOGMEC, had intersected multiple mineralised intervals, subsequently confirming a new and potentially important high-grade copper discovery.

Drilling results included:

WLDD001
9 metres at 8 per cent copper, 17 grams per tonne silver, 0.21g/t gold from 616m, including 2.82m at 21.85 per cent copper, 46g/t silver, 0.62g/t gold from 619.68m;

38m at 1.18 per cent copper, 4g/t silver from 450m;

6m at 1.23 per cent copper, 5g/t silver from 430m; and

4m at 1.14 per cent copper, 3g/t silver from 643m.

WLRCDD015
4.9m at 4.3 per cent copper, 13g/t silver from 402.1m, including 0.9m at 19.5 per cent copper, 58g/t silver from 402.1m;

22m at 1 per cent copper, 4g/t silver from 332m;

3m at 2.1 per cent copper, 6g/t silver from 451m; and

2m at 1.8 per cent copper, 13g/t silver, 1.63 per cent zinc from 524m.

“Extensional drilling of WLDD001 is now underway,” Peel Mining said in its ASX announcement.

“Upon completion, the drill rig will be mobilised to a location further south, where a deep drillhole is planned to test beneath the centre of the large Wirlong multi-element geochemical anomaly.

“Additional geophysical surveying is also planned.”

Peel also reported results from drilling carried out at Mallee Bull prior to the end of 2015, as part of investigations to test for new mineralisation.

Latest results from Mallee Bull include:

MBRCDD051
5m at 2.1 per cent copper, 59g/t silver, 0.72g/t gold from 385m;

4m at 1.18 per cent copper, 23g/t silver, 0.12g/t gold from 398m;

4m at 1.87 per cent copper, 18g/t silver, 0.09g/t gold from 463m; and

4m at 2.64 per cent copper, 34g/t silver, 0.77g/t gold from 483m.

MBDD026/026W1
2m at 2.33 per cent copper, 46g/t silver, 0.62g/t gold from 422m.

MBRC052
4m at 1.52 per cent copper, 111g/t silver, 0.21g/t gold, 2.52 per cent lead, 4.2 per cent zinc from 197m.

Peel said it has been encouraged by these latest mineralised intervals, which it considers likely to indicate greater strike continuity of copper mineralisation than it previously assumed.

The company is now planning follow-up work to continue to advance the project.

Email: info@peelmining.com.au

Website: www.peelmining.com.au

Rox Resources encounters copper at new prospects

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) reported further high-grade copper results from recent reverse circulation (RC) drilling undertaken at the company’s Bonya copper project, located east of Alice Springs in the Northern Territory.

The drilling was undertaken at the Bonya Mine prospect to follow up drilling results from last December (38m at 4.4 per cent copper) and two new prospects, Green Gully and Green Hoard.

Three holes were drilled at Green Gully with one hole returning an encouraging:

GGRC001:
2 metres at 3.2 per cent copper from 29m.

Drilling at the Bonya Mine prospect returned mineralised intersections throughout the entire length of the drill hole which ended in mineralisation:

BYRC020:
5m at 1.6 per cent copper from 79m;

4m at 1.8 per cent copper from 87m;

4m at 2.3 per cent copper from 125m; and

6m at 2.6 per cent copper from 140m.

“We are excited to be continuing to drill copper mineralisation at Bonya,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“Not only have we continued to drill high-grade copper sulphide mineralisation at the Bonya Mine prospect, but the new intersection at the Green Gully prospect indicates a totally new area of copper mineralisation.

“It’s still early days exploration-wise at Bonya.

“Our work so far has concentrated on locating prospects for drilling, and these excellent results so early on in the exploration program are very exciting.”

Rox has a 51 per cent interest in the Bonya tenement and has elected to increase that interest to 70 per cent by spending $1 million by December 2016.

Approximately $200,000 has been invested towards that expenditure requirement.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Impact Minerals encounters copper and nickel sulphides at Platinum Springs

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has intersected a 60 centimetre thick unit of massive sulphide containing extensive copper and nickel sulphides with drillhole PSD02, recently conducted at the Platinum Springs prospect, located north east of Broken Hill in New South Wales.

The massive sulphide unit is close to previous high-grade nickel-copper-platinum group metals (PGM’s) intersected in massive sulphide in two drill holes completed by previous explorers.

Impact explained these previous drillholes were not surveyed and their precise location is unknown.

The latest holes – PSD01 and PSD02 – were drilled to test an electromagnetic (EM) conductor identified by Impact in a down hole survey of a previous drill hole.

The anomaly was modelled to be a narrow and strongly conductive (>5,000 siemens) unit.

PSD01 did not intersect the conductor while PSD02 was targeted on a refined position and geometry of the conductor based on a down hole EM survey of PSD01.

The company said the massive sulphide unit is the source of the EM conductor, adding there was a considerable difference in the modelled orientation and geometry between the two surveys it had already completed.

A third down hole survey, PSD02, has now been completed and the data is being processed ready for interpretation, which will be used to help design follow up work programs to be carried out in the first quarter of 2016.

Impact indicated that assays are expected in about five to six weeks after the Christmas break.

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

Rox closes off 2015 with impressive zinc intersection at Teena

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) has finished 2015 with a bang by reporting another big result from diamond drilling being carried out at the Teena zinc prospect, which forms part of the company’s Reward project in the Northern Territory.

Hole TNDD022 was the fourth and final hole drilled at Teena this year, producing a strong intercept of high-grade zinc and lead sulphide mineralisation in both defined lenses:

Lens 2:
20.8 metres at 12.8 per cent zinc plus lead (Zn+Pb) from 849.7m, including 15.1m at 16.4 per cent Zn+Pb from 855.4m, and

Lens 1:
5.1m at 9 per cent Zn+Pb from 892.2m, including 3.8m at 11 per cent Zn+Pb from 892.2m.

“The drilling program is now complete at Teena for 4,949 metres and the four drill holes completed during 2015 have all returned results well above our expectations,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“They have confirmed the continuity of mineralisation in both east-west and north-south directions, and the grades have been appreciably higher as well.”

Based on the results Rox has achieved at Teena it has revised the prospect’s conceptual Exploration Target to 70 to 80 million tonnes grading 11 to 13 per cent Zn+Pb (10 to 12 per cenr zinc, 1 to 2 per cent lead) for 7.7 to 10.1 million tonnes of contained Zn+Pb.

The Reward project is subject to an option/joint venture (JV) agreement between Rox (49%) and Teck Australia (51%), a subsidiary of Teck Resources Limited.

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

As at 30 September 2015 Teck had spent approximately $12.4 million.

Rox has made it known it is seeking to commercialise its interest in the project either by way of outright sale to a third party, or by a spin-off into a dedicated zinc company.

The company is continuing to actively explore these options.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Metalicity identifies new mineralised zones at Admiral Bay

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has identified two zones of zinc and lead mineralisation sitting outside of the existing Mineral Resources Estimate on the company’s 100 per cent-owned Admiral Bay zinc project, located in Western Australia.

The first of these zones, DD89SS17 is located one kilometre northeast of the Admiral Bay MRE and comprises several zones of mineralisation, including a particularly wide zone of:

26 metres at 4.4 per cent zinc, 3.3 per cent lead, and 28 grams per tonne gold (8.7% ZnEq) encompassing an intersection of 14m at 5.1 per cent zinc, 4.26 per cent lead and 31g/t silver (10.5% ZnEq).

A second mining lease at Admiral Bay, M04/244, hosts the DD87SS06 zone, which Metalicity has defined by a section of four drill holes, 11.5km northwest of the main deposit.

Metalicity explained that no resources have been estimated for these areas due to the lack of supporting information and geological understanding.

However, the work the company currently has underway is providing its technical team greater understanding of the mineralisation, leading the company to investigating whether estimation of resources for these zones is possible.

“The company is working through a comprehensive geological interpretation program, re-logging of all drill core and re-processing of all 2D seismic data program, with teams recently on site at Admiral Bay logging both the mineralised and non-mineralised drill core,” Metalicity said in its ASX announcement.

“The seismic team are re-processing and re-interpreting existing seismic data to complement the new geological model.

“The new geological model will be designed to enhance the understanding of the mineralisation, its continuity, and to generate discrete drill targets with the potential to upgrade the MRE in both size and classification.

“This work is being undertaken by industry leading consultants and is due for completion as part of the Scoping Study in March 2016.”

Kin Mining encounters high-grade gold at Merton’s Reward

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) has hit a high grade gold intersection during recent drilling carried out at Merton’s Reward, part of the company’s Leonora gold project in Western Australia.

The intersection was encountered whilst drilling the T1 target and, according to the company, has defined an extension to the Merton’s Reward ore zone, which currently stands at 1.08 million tonnes at 2.6 grams per tonne gold for 91,000 ounces.

The drilling returned a high grade intersection of:

5 metres at 7.99g/t gold from 59m, including a higher grade interval of 1m at 24.7g/t gold.

Kin’s recently completed drill program consisted of four deep Reverse Circulation holes over three target areas, with two holes drilled into T1, and one each into target areas T2 and T3.

Results from T2 and T3 are expected before Christmas.

“Kin are very pleased with the results from our maiden drill campaign at the T1 target at Merton’s Reward,” Kin Mining managing director Trevor Dixon said in the company’s announcement to the Australian Securities Exchange.

“Intersecting five metres of almost eight grams, at a vertical depth of 50 metres is very encouraging.

“Furthermore we are seeing mineralisation persist at depths below the historic Merton’s Reward underground working and further north than previously expected which is an interesting development.

“The mineralisation is correlating with predicted target zones and confirms the new geological model is robust and will be used to target future drill campaigns.

“We also still have results pending from the T2 and T3 target areas which is very exciting.”

Email: info@kinmining.com.au

Website: www.kinmining.com.au