Metals of Africa releases Montepuez Central maiden graphite Resource

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THE DRILL SERGEANT: Metals of Africa (ASX: MTA) announced a maiden JORC 2012 Mineral Resource estimate for the company’s Montepuez Central graphite project, located in the Cabo Delgado graphite province of Mozambique in East Africa.

The total Resource has been calculated at:

61.6 million tonnes at 10.3 per cent total graphitic carbon (TGC) and 0.27 per cent vanadium oxide (V2O5) for 6.3 million tonnes of graphite and 163,000 tonnes of V2O5 (at a 6% TGC cut-off).

The Mineral Resource comprises:

An Indicated JORC Mineral Resource of 27.6 million tonnes at 10.4 per cent TGC and 0.23 per cent V2O5 for 2.9 million tonnes of graphite and 62,000 tonnes V2O5; and

An Inferred JORC Mineral Resource of 34.1 million tonnes at 10.2 per cent TGC and 0.3 per cent V2O5 for 3.5 million tonnes TGC and 101,000 tonnes V2O5.

The company declared the Mineral Resource to be high-grade, at 10.3 per cent TGC, and remains open along strike and down dip.

It went on to say that it anticipates further resource tonnage is highly likely to be confirmed from any future drill programs.

“This impressive maiden resource positions Metals of Africa as a major player in the global graphite space,” Metals of Africa managing director Cherie Leeden said in the company’s announcement to the Australian Securities Exchange.

“A resource of 61 million tonnes will enable the company to meet the growing demand of end users and is ample for our proposed mine design.

“Our flake size and quality is exceptional and our deposit clearly boasts the best ratio of large and jumbo flake of graphite deposits in Mozambique.

“Large flake sells for a premium and gives us optionality with respect to any end users.

“We have outlined a pathway to fast track the project and, in parallel to commencing our pre-feasibility study, we intend to investigate the viability of setting up a spherical graphite plant in the USA.”

Website: www.metalsofafrica.com.au

Peel Mining confirms new copper hits at Mallee Bull

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) has received assay results from recent extensional drilling carried out at the company’s 50 per cent-owned Mallee Bull project near Cobar in Western New South Wales.

Peel said the results had confirmed a considerable new copper mineralised intercept on the northern edge of the project’s current mineral resource model.

Drilling is ongoing at Mallee Bull as part of Peel’s investigations to test for new mineralisation.

Four drillholes were completed in this most recent round of drilling, whilst a fifth drillhole is continuing (MBRCDD049 to MBRCDD051, MBRCDD050W1 and MBDD026W1).

The company explained these drillholes were designed to test along strike to the north from previously identified mineralisation.

Assay results for MBRCDD050 have been received with results for all other drillholes pending.

MBRCDD050 was designed to test for mineralisation at between 400 to 500 metres below surface and about 80m further north than previous drilling.

MBRCDD050 returned:

62 metres (approx. 40m true width) at 3.15 per cent copper, 42 grams per tonne silver, 0.28g/t gold from 465m, including a high grade zone of 34m (approx. 22m true width) at 4.6 per cent copper, 63g/t silver, 0.44g/t gold from 475m.

“The mineralisation occurs as a broad interval of quartz-sulphide (chalcopyrite-pyrrhotite) stringer/breccia style within structurally deformed turbidite sediments,” Peel Mining said in its ASX announcement.

“The true widths of these intervals are significantly wider than the three metre ‘footwall domain’ interval previously modelled for this area, and is likely extensional.”

Follow-up wedge diamond drillhole MBRCDD050W1 was also completed targeting approx. 80m down dip from MBRCDD050.

MBRCDD050W1 intersected approx. 13m of pyrite-pyrrhotite-chalcopyrite massive sulphide mineralisation from approx. 406m downhole.

Peel interpreted the true width of this mineralisation to be around 9m.

“This mineralisation correlates with the ‘hanging-wall domain’ present at Mallee Bull and occurs about 50 metres further north than the current assumed modelled boundary position for this type of mineralisation, and is assumed extensional,” the company said.

“No significant stringer mineralisation was intercepted.”

Diamond drillhole MBDD026W1 is currently underway and has been designed to test for mineralisation at around 500m below surface and about 40m further north of drillhole MBRCDD050.

“Peel is encouraged by the mineralised intervals in MBRCDD050 and MBRCDD050W1, which indicate greater strike continuity of copper mineralisation than previously assumed,” the company said.

“DHEM is now planned for several recently completed drillholes to guide further drillhole planning.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au

Montezuma Mining drilling campaign confirms Yamarna potential

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THE DRILL SERGEANT: Montezuma Mining Company (ASX: MZM) has received assay results from a recently completed maiden aircore drilling program carried out at the company’s 100 per cent-owned Yamarna project in Western Australia.

The company said this was the first ever drilling campaign to be conducted in this area adding the results have confirmed strong widespread regional anomalism within the project area with the drilling encountering gold signatures commensurate with Archean gold mineralisation at all three targets Jatz, Captains and Cruskit.

They also confirmed multiple kilometre scale mineralised corridors in Archean basement rocks, including 15 metres at 0.4 grams per tonne gold in Archaean greenstone and individual assay values up to 2.7g/t gold.

Montezuma explained the geochemical aircore drilling program had been designed to test for basement (Archaean) hosted primary gold mineralisation beneath multiple regional scale historic gold in soil anomalies.

Of the three targets drilled, Montezuma named Jatz to be the standout target, with strong basement mineralisation, including ore grade intercepts along a strike of over 1.5 kilometres.

The company said it intends carrying out deeper RC drilling to test these targets, which should commence as soon as possible.

“This program has now confirmed the potential for significant Archean gold mineralisation at all three primary target areas, all of which are open in all directions,” Montezuma Mining Company executive director Justin Brown said in the company’s announcement to the Australian Securities Exchange.

“The results have far exceeded expectations and the team stands ready to undertake follow up RC drilling in coming weeks”.

Website: www.montezuma.com.au

Highlands Pacific reconfirms mineralisation at Star Mountains

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THE DRILL SERGEANT: Highlands Pacific (ASX: HIG), along with its joint venture partner Anglo American, has received assay results from two additional drill holes completed at the Star Mountains tenements in the Western Province of Papua New Guinea.

Highlands Pacific claims the results reconfirm copper/gold mineralisation at the tenement’s Olgal and Kum Kom prospects.

The JV has completed eight diamond drill holes in its current campaign for a total of approximately 3400 metres.

Assays from the first four holes were released in September, now four additional holes have since been completed, with one further hole planned for this year to test extensions of the mineralised zone.

The latest assays to be received from Star Mountains include the following intercepts at 0.2% cut-off:

At the Olgal prospect:

018OLG15
260 metres at 0.31 per cent copper and 0.19 grams per tonne gold, including 10.9m at 0.6 per cent copper and 0.34g/t gold from 314m downhole.

At the Kum Kom prospect:

004KUM15
13m at 1.3 per cent copper and 0.5 g/t gold from 107m downhole;

26.5m at 0.89 per cent copper and 1.4g/t gold from 282m downhole; and

30m at 1 per cent copper and 0.23g/t gold from 515m downhole.

“The drilling has provided a steady stream of information assisting in the understanding of the geology of the Star Mountains prospect,” Highlands Pacific managing director John Gooding said in the company’s announcement to the Australian Securities Exchange.

“The assays received to date have reconfirmed the presence of an extensive low grade copper-gold porphyry zone at Olgal as well as skarn mineralisation at Kum Kom.

“Based on the information received through this campaign, and the results of a ZTEM survey to be flown over the entire prospect in the coming weeks, we intend to commence field sampling and mapping to identify new targets for drilling in the second half of next year.”

Website: www.highlandspacific.com

Wildhorse Energy releases Lake Wells maiden Resource

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THE DRILL SERGEANT: Wildhorse Energy (ASX: WHE) has reported its maiden JORC Mineral Resource estimate from the company’s Lake Wells project, in Western Australia.

The total Mineral Resource Estimate (MRE) at Lake Wells has been estimated at 29 million tonnes of sulphate of potash (SOP), with 90 per cent classified as Measured and Indicated.

The company claimed the Mineral Resource Estimate has confirms Lake Wells as one of the largest undeveloped salt lake brine projects in the world.

Wildhorse indicated it would be commencing a Scoping Study shortly to examine the economic viability of the project.

The Mineral Resource estimate is based on an average depth of only 16 metres below surface with mineralisation open at depth across most of the Lake.

The company has an aircore drilling program currently underway to test the extent and geology of the brine pool at depth.

“The successful completion of our shallow drilling program and estimation of such a high quality mineral resource estimate, prepared in accordance with JORC, is a major step forward in demonstrating the potential of Lake Wells to support a substantial SOP brine project,” Wildhorse Energy executive director Jason Baverstock said in the company’s announcement to the Australian Securities Exchange.

“The potential for an even larger resource at depth, as well as the project’s inherent location and infrastructure advantages, indicate a really exciting future for the project and the company.”

Investigator Resources upgrades Paris silver Resource

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THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has released a revised upward estimation for the Inferred Mineral Resources at the Paris silver project, located within the company’s 100 per cent-held Peterlumbo tenement on the northern Eyre Peninsula of South Australia.

The upgraded Inferred Mineral Resource for the Paris silver project has come in at 8.8 million tonnes at 116 grams per tonne silver, comprising 33 million ounces of contained silver.

The JORC Code-compliant Mineral Resource estimate is reported using a silver cut-off grade of 50g/t and was constrained above the 25mRL (equivalent to about 160m below the surface).

This compares with the 2013 maiden Inferred Mineral Resource of 5.9 million tonnes at 110g/t silver, containing 20 million ounces at a 30g/t silver cut-off.

The revised Inferred Mineral Resource was independently prepared by H & S Consulting using the Multiple Indicator Kriging method, which Investigator indicated is suitable for the complex mineralisation style of the Paris silver deposit as  the company considers the dominant soft host rock and shallow depth of the Paris deposit offers potential for an open-pit operation.

H&SC have modelled and classified the resource in accordance with that assumption.

“Investigator is delighted with the outcome of the revised resource estimate for the Paris silver deposit,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.

“This shows a 60 per cent increase in silver ounces with a slight uptick in the already robust grade.

“The upgrade was made possible firstly by adding some of the northern extensions drilled after the maiden resource in 2013, but primarily through the increased confidence in the geological model.

“This enabled the fresh geostatistical approach to better model the mineralisation for the high-grade zones and the margins, while not imposing any preconception about pit designs.

“The Paris silver mineralisation is irregularly distributed between the surface and about 160 metres depth within a flat elongate clay-altered breccia body that extends over nearly 1.5 kilometres in length.

“Understanding of the highly variable distribution of the mineralisation, typical for this style of deposit, benefited from the application of the more sophisticated MIK modelling technique that is well accepted by the industry.

“The resource upgrade, along with the positive metallurgical test work undertaken subsequent to the 2013 maiden resource, strengthens the value of the company’s key asset.

“Investigator is scoping the work program needed to convert Paris to an Indicated Mineral Resource, with only a modest drill program likely to be required in the first instance.”

Email: info@investres.com.au

Website: www.investres.com.au

Rox Resources encounters further mineralisation at Teena

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) reported further assay results from diamond drilling carried out at the Teena zinc prospect, part of the company’s Reward project in the Northern Territory.

Hole TNDD021 was drilled to confirm the northern extent of high-grade mineralisation toward the Bald Hills Fault zone between previous holes TNDD010 and TNDD011.

This hole intersected high-grade zinc and lead sulphide mineralisation with further results, including:

TNDD021
19.7 metres at 14.9 per cent zinc plus lead (Zn+Pb) from 997.4m; and

7.2m at 9.2 per cent Zn+Pb from 1041.8m.

“We continue to receive great drilling results from the Teena prospect,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Excahnge.

“This latest hole infills a 500 metre space between previous drill holes and firmly establishes the continuity of this mineralisation over an impressive 1.3 kilometre strike length.”

Rox indicated it was now waiting on assays from another hole, TNDD020, drilled on the same section line between holes TNDD021 and TNDD014.

A fourth and last hole of the program, TNDD022, located between holes TNDD011 and TNDD017, has also been completed with assays awaited.

Mulholland explained the mineralisation occurs in a synclinal basin, which Rox believes demonstrates the extent of the mineralisation will be longer around the syncline.

The depth of mineralisation ranges from 400m below surface at the western end to about 1,000m below surface at the eastern end, he said, adding that the high-grade mineralisation extends for over 1.3km in strike length

“The thickness and extent of this mineralisation is of an impressive size,” Mulholland said.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Geopacific Resources encounters high copper numbers at Kou Sa

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THE DRILL SERGEANT: Geopacific Resources (ASX: GPR) has returned strong copper hits from drilling being conducted on Prospect 150 at the company’s Kou Sa copper-gold project in Cambodia.

Prospect 150 is the most advanced area at Kou Sa and has now been drilled over a strike length of 500 metres and down dip for some 250m.

With its latest drilling at Prospect 150, Geopacific has been targeting a potential feeder zone that lies on the western margin of the known mineralisation.

RC holes were targeted to intercept the near surface expression of the zone.

The mineralisation encountered:
KRC145
17 metres at 12.38 per cent copper equivalent (Cueq) from 19m;

KRC148
5m at 2.28 per cent Cueq from 53m;

KRC144
9m at 1.81 per cent Cueq from 8m; and

KRC150
4m at 1.61 per cent Cueq from 69m.

The next diamond holes targeted deeper mineralisation, returning results of:

KDH132
4.6m at 4.76 per cent Cueq from 87m;

KDH142
5.3m at 3.52 per cent Cueq from 83.7m; and

KDH146
5m at 2.55 per cent Cueq from 9m.

“The results from these holes continue to confirm the high-grade nature of the central zone of Prospect 150 mineralisation,” Geopacific Resources managing director Ron Heeks said in the company’s announcement to the Australian Securities Excahnge.

“We’ve identified more near-surface copper and gold mineralisation, extending the zone further to the west – an excellent result which will enhance economics.

“We believe we’ve intercepted the top of the feeder zone that may have provided a pathway for the mineralisation forming the shallow dipping mineralisation lying to the east of Prospect 150.

“Understanding the source of this mineralisation will assist us identifying repetitions at depth and along strike”.

Geopacific has inidicated its strategy is to develop Kou Sa to generate revenue to support expansion.

By targeting a ‘kickstarter’, maiden resource and scoping study for Kou Sa, the company hopes to take the project into production, with ongoing exploration increasing the scale of the project, well beyond the initial resource.

Email: info@geopacific.com.au

Website: www.geopacific.com.au

Metallica Minerals maiden drilling hits 120m graphite mineralistaion

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THE DRILL SERGEANT: Metallica Minerals (ASX: MLM) has completed the first drill hole at the company’s Esmeralda graphite project, south of Croydon in north Queensland.

Based on visual observation, the company claimed the hole (WD001) intersected more than 120 metres of graphite mineralisation from a depth of 68m.

The hole ended in mineralisation at 189m.

From its visual inspection, Metallica said the majority of the mineralised core could potentially contain over 10 per cent graphite, with healthy portions containing over 20 per cent graphite.

The company has commenced a second hole (WD002) where it is targeting similar mineralisation.

Initial assay results for both holes are expected to be ready toward the end of November.

“We are extremely encouraged by these initial results from Esmeralda,” Metallica Minerals CEO Simon Slesarewich said in the company’s announcement to the Australian Securities Exchange.

“The results provide the first hard evidence that Esmeralda hosts an extensive and high-grade graphite deposit.

“It is gratifying to see our research and theoretical modelling validated so clearly and so early in our first field program.

“While we do have to wait for the assays to tell the full story, the substantial width and consistency of mineralisation indicates a potentially world-class discovery.

“The intersection in WD001 is well above the mineralised length of some of the emerging graphite results from east Africa and more than comparable with graphite zone widths from the globally renowned Albany project in Ontario, Canada.”

Email: admin@metallicaminerals.com.au

Website: www.metallicaminerals.com.au

Gascoyne Resources takes Dalgaranga over 1M ounce mark

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THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has announced an updated Mineral Resource estimate for the company’s 80 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.

The new estimate has been updated to include recent drilling results and conforms to the JORC 2012 code.

The combined Dalgaranga Measured, Indicated and Inferred Mineral Resource now stands at 23 million tonnes at 1.4 grams per tonne gold for 1.02 million ounces of gold, of which 21.8 million tonnes at 1.4g/t gold for 949,000 ounces is within the Gilbeys deposit.

“The updated JORC 2012 Dalgaranga Resource represents a major step forward for Gascoyne’s Dalgaranga project and the company as a whole,” Gascoyne Resources managing director Mike Dunbar said in the company’s announcement to the Australian Securities Exchange.

“The company now has two plus-one million ounce gold projects on granted Mining Leases within Western Australia.

“Development Studies at both the Glenburgh and Dalgaranga projects highlight the potential for near term, high margin and relatively low capital cost developments.

“It is expected that the Dalgaranga project which has potential for 80,000 to 100,000 ounces per annum for around six years, will be developed first providing a solid base on which to grow the production base to plus-150,000 ounces per annum with the development of Glenburgh.”

Highlights from the updated resource include:

A 35 per cent increase in total Mineral Resource at Dalgaranga of over 260,000 ounces to plus-one million ounces;

509,000 ounces of Measured and Indicated Mineral Resource at Dalgaranga project, an increase of 215,000 ounces (74 per cent), adding substantially to the confidence in the Gilbeys Mineral Resource and to the project as a whole;

The Gilbeys Mineral Resources increased 39 per cent to 21.8 million tonens at 1.4g/t gold for 949,000 ounces (using a 0.5 g/t cut-off above 120mRL and 1.0g/t cut-off below 120mRL);

Excellent grade and geological continuity of the mineralisation at Gilbeys; and

97 per cent of the resource within the Detailed Scoping Study stage three pit design is classified as Measured or Indicated, providing an excellent base to define an Ore Reserve on completion of the current Pre-Feasibility Study.

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au