THE DRILL SERGEANT: Hannans Reward (ASX: HNR) announced diamond drillhole assay results from the Central deposit at the company’s Pahtohavare copper-gold project, located south-west of Kiruna in northern Sweden.

Pahtohavare comprises three deposits, Central, Southern and South Eastern.

Hannans’ Swedish joint venture partner Lovisagruvan AB is funding the costs of exploration under the terms of a Joint Venture struck up in March this year, under which Hannans will retain a 25 per cent free carried interest through to a Decision to Mine.

Hannas said assay results have now been received for drillholes PADH15006 and also the diamond tail PARC13001D, which include copper-gold-silver intercepts of:

PADH15006
30.43 metres at 1.75 per cent copper, 0.49 grams per tonne gold, 1.54g/t silver from 20.07m (0.1% copper lower-cut, 1m internal dilution), including 12.3m at 2.99 per cent copper, 0.87g/t gold, 1.66g/t silver from 29.2m (1% copper lower-cut, 0m internal dilution).

PARC13001D
18m at 1.48 per cent copper, 0.36g/t gold, 0.9g/t silver from 155m (0.1% copper lower-cut, 1m internal dilution);

9m at 0.49 per cent copper, 0.15g/t gold, 0.71g/t silver from 176m (0.1% copper lower-cut, 1m internal dilution).

“All drillholes from the recent diamond drilling program have now been logged, sampled and dispatched to the laboratory for assaying; the balance of results is expected in October,”Hannans Reward said in its ASX announcement.

“Joint venture partner Lovisagruvan AB is expected to make a decision on whether to proceed to Stage 2 of the joint venture agreement in late October.”

The Central deposit contains a current JORC-compliant Inferred Mineral Resource Estimate of 1.4 million tonnes at 1.8 per cent copper and 0.6g/t gold (2.4% copper equivalent).

Email: admin@hannansreward.com

Website: www.hannansreward.com

THE DRILL SERGEANT: Ausgold (ASX: AUC) has announced an updated JORC 2012 Mineral Resource estimate at the company’s 100 per cent-owned Katanning gold project (KGP), located in the south west of Western Australia.

The new Mineral Resource estimate has come in at 11.3 million tonnes at 1.26 grams per tonne gold for 460,000 ounces of contained gold for Jinkas, Dingo and Jackson lodes.

The prospect breakdown comprises:

Jinkas at approximately 270,000 ounces (including a high-grade core of around 125,000 ounces at 2.57g/t gold);

Dingo approximately 155,000 ounces (which includes a higher grade core of 40,000 ounces); and

Jackson at approximately 35,000 ounces.

Ausgold said the Mineral Resource estimate includes a substantial proportion sitting in the Measured and Indicated categories (87 per cent), is reported at a 0.5g/t gold cut-off grade, and restricted to approximately 150 metres below surface, which suggests it could be potentially amenable to low cost open cut mining.

“We are extremely pleased with the updated resource which follows the recent successful Resource Development and Exploration drilling program at the Katanning gold project,” Ausgold said in its ASX announcement.

“The delineation of a significant shallow 460,000 ounce gold resource at potentially economic grades is a major milestone for Ausgold and the result of a great team effort – both within Ausgold and together with the Katanning community and our various service providers.

“Accordingly we have commenced a Scoping Study to assess amenability to open cut mining and to capitalise on the favourable geology, geometry and location of the Mineral Resource.

“With an improving understanding of the mineralisation, which remains open in a number of directions, there is significant scope for further increases.

“We are proposing further drilling at the KGP and regional targets”

Email: info@ausgoldlimited.com.au

Website: www.ausgoldlimited.com.au

THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has claimed to have identified a new epithermal gold target, named Bunyip, on the company’s Drummond tenements in Queensland.

The Bunyip target was defined from on-ground prospecting, including rock chip sampling and FPXRF soil geochemistry.

According to Adelaide Resources quartz veins at Bunyip display typical epithermal textures that extend for over 800 metres of strike, reaching widths in excess of five metres.

Rock chip samples record anomalous levels of gold with individual assays including:

5.16g/t, 0.23g/t, 0.23g/t and 0.12g/t gold.

The sampling has indicated epithermal pathfinder metals to be enriched with arsenic to 330ppm and molybdenum to 70ppm.

“First pass FPXRF soil geochemistry over Bunyip has defined large, high magnitude arsenic and molybdenum anomalies,” Adelaide Resources said in its ASX announcement.

“A number of siliceous sinters have been located in the sediments that lie stratigraphically above the veins, and may record the palaeo land surface during the epithermal event.

“Reconstruction of the palaeo land surface, the presence of shallow level pathfinder metals like arsenic, and the vein textures are consistent with the main gold zone target at Bunyip remaining preserved at depth.”

Adelaide Resources indicated it has further detailed surface exploration to carry out in order to prepare Bunyip for drill testing.

Email: adres@adelaideresources.com.au

Website: www.adelaideresources.com.au

THE DRILL SERGEANT: Pilbara Minerals (ASX: PLS) announced a major Resource upgrade of the company’s 100 per cent-owned Pilgangoora lithium-tantalum project, located in the Pilbara region of Western Australia.

The company said the upgrade has resulted in the value of the project’s lithium content increasing nearly threefold.

The project now stands with an Indicated and Inferred Resources of 52.2 million tonnes at 1.28 per cent Li2O (spodumene) containing 668,000 tonnes of lithium oxide with 32.9 million tonnes grading 0.022 per cent Ta2O5 (Tantalum) containing 15.7 million pounds of Ta2O5;

Within the total Mineral Resource of 52.2 million tonnes, and at a cut-off of one per cent Li2O, the Inferred and Indicated Lithium Resource amounts to 40.7 million tonnes at 1.43 per cent Li2O containing 581,000 tonnes of lithium oxide.

The company indicated it has already commenced its next phase of resource extension drilling at Pilgangoora where it is focusing on the southern domains and the Monster prospects, which lie outside of the currently defined Mineral Resource.

Pilbara anticipates the drilling in these zones to result in further increases in the Resource inventory.

The company has commenced a Feasibility Study as part of a strategy to fast-track development of the project to take advantage of the increasing demand for quality spodumene concentrate to feed the growing lithium battery market.

“This represents the culmination of a highly successful resource in-fill and extensional drilling program this year which has clearly demonstrated the world-class scale, grade and potential of the Pilgangoora project,” Pilbara Minerals executive director Neil Biddle said in the company’s announcement to the Australian Securities Exchange.

“This is a significant advance on the resource updates announced earlier this year and, importantly have seen the high-value lithium content of the resource jump significantly.

“Pilgangoora is now confirmed as the world’s second largest lithium deposit, and one of the highest grade globally – with the added advantage of having a significant tantalite component which will help to reduce operating costs by providing a valuable by-product credit.

“We are also encouraged by the results of the drilling which is continuing at the moment but which couldn’t be included in this resource upgrade.

“This work has clearly demonstrated that Pilgangoora will continue to grow significantly, underpinning a greatly expanded overall Exploration Target for the deposit.

“We now have sufficient confidence in the scale and quality of the deposit to press ahead with a Feasibility Study.

“Key elements of this work are already well underway and we look forward to providing further information in the weeks ahead as we put the foot down to get this project into development as quickly as possible.

“The very high level of interest we have seen from potential off-take partners gives us great confidence that Pilgangoora is the right project at the right time for the lithium market and we are looking forward to unlocking the enormous value of this asset for our shareholders.”

Website: www.pilbaraminerals.com.au

THE DRILL SERGEANT: Coventry Resources (ASX: CYY) provided an update on continued drilling the company’s Caribou Dome copper project in Alaska, USA.

Coventry completed an initial 1,000m drilling program in July 2015, after which it mobilised a second rig to the project in August to accelerate a 4,000m exploration drilling program.

So far eleven additional diamond core holes have been completed with recent drilling focused primarily on testing for strike extensions of mineralisation at the Lense 7/8 Target and depth extensions of mineralisation at Lense 2.

In September Coventry announced the intersection of thicknesses of high-grade copper mineralisation in CD15‐14, the first hole drilled to evaluate the Lense 7/8 Target.

Assay results included:

0.8 metres at 12.4 per cent copper from 128.7m;

14.1m at 9.9 per cent copper from 134.6m;

2.4m at 3.7 per cent copper from 159.8m, and

0.4m at 13.6 per cent copper from 167.4m.

The company has since completed a further 6 holes at the Lense 7/8 Target to test for extensions of this mineralisation.

“In each of these six holes multiple intervals of semi‐massive to massive copper‐sulphide mineralisation have been intersected, particularly when holes have been drilled through Lenses 3, 7, 8 and/or 9 at shallow depths, prior to progressing deeper to test the strike extensions of the mineralisation intersected in CD15‐14,” Coventry Resources said in its ASX announcement.

“At least one individual mineralised interval is greater than 10 metres thick.”

Coventry declared the latest drilling has demonstrated high‐grade mineralisation to be present over at least 120 metres of strike at the Lense 7/8 Target.

According to the company, visual results it has received indicate there may also be areas where the mineralisation in Lenses 3, 7, 8 and/or 9 may be thicker than that intersected in drilling by previous explorers.

“There is potential to discover extensions of the mineralisation at the Lense 7/8 Target both along strike and at depth,” Coventry said.

“Further drilling will be undertaken in the next drilling program, following receipt and interpretation of assay results and installation of additional access tracks.”

Email: info@coventryres.com

Website: www.coventryres.com