THE DRILL SERGEANT: Oro Verde (ASX: OVL) reported results from its recent round of sampling undertaken at the company’s Topacio gold project in southeastern Nicaragua.

The recent work has returned impressive gold assay results from the historical Dispute vein, which was first mined in the late 1890s.

Oro Verde sampled a one metre surface channel sample across the width of the Dispute vein, which assayed at 89.3 grams per tonne gold and greater than 100g/t silver.

The company explained a split of the grade sample pulp assayed at 92.9g/t gold, which it said had confirmed repeatability.

This is Oro Verde’s highest gold result to date from the Topacio gold project.

The company added it has taken a further three samples from the Dispute vein, two of which returned assays of 22.6g/t gold and 5.1g/t gold.
 
The Dispute vein is located within the Topacio resource area, in close proximity, and subparallel, to the Dos Amigos vein, from where the company recently reported similarly high grades of 33.6g/t gold, 38.5g/t gold and 23.5g/t gold from the Dos Amigos vein.

In addition to the impressive gold grades, re-assaying of earlier over-range silver assays returned values as high as 480g/t silver from the Topacio vein.

“Bonanza gold grades and visible panned gold, from the Dispute and East Mico vein areas, respectively, give us great encouragement that the existing gold resource grade may be underestimated,” Oro Verde managing director Trevor Woolfe said in the company’s announcement to the Australian Securities Exchange.

“This is highlighted by the consistent exceptional grades we have been reporting from our reconnaissance surface sampling during 2015.”

In 25 February 2015, Oro Verde announced the acceptance of an Option to Purchase Agreement over the Topacio gold project.

The project boasts a historical NI 43-101compliant Inferred Resource of:

2.7 million tonnes at 3.9/t gold, containing 340,345 ounces of gold, at a 1.5g/t gold cut-off.

Website: www.oroverde.com.au

THE DRILL SERGEANT: Predictive Discovery (ASX: PDI) has completed a shallow, reconnaissance RC drilling program near the company’s Bongou gold project in Burkina Faso.

The company claims the recent drilling has resulted in the discovery of gold mineralisation at four prospects: Prospect 71, Target 92, and Targets W2 and W8, all of which are within 10 kilometres of the high-grade Bongou gold Resource.

Results included:

Target 92:

TBFRC11
9 metres at 2.8 grams per tonne gold from 4m, including 1m at 11.8g/t gold.

TBFRC10
3m at 3.9g/t gold from 17m, including 1m at 10.8g/t gold. This was a down-dip extension of the TBFRC011 gold intercept.

Target 92 remains open at depth and along strike for 600m in both directions.

Prospect 71 South:

PSORC056
6m at 2.3g/t gold from 19m, including 1m at 6.8g/t gold.

Drilling stopped in gold mineralisation.

PSORC058
4m at 3.3g/t gold from 10m, including 1m at 9.2g/t gold.

PSORC060
14m at 0.8g/t gold from 0m, including 1m at 5.4g/t gold.

The target remains open along strike to the south and at depth.

Bongou W2 (600m from Bongou)

BNGRC027
21m at 1.0g/t gold from 20m, including 8m at 1.6g/t gold.

BNGRC026
9m at 1.3g/t gold from 56m, including 1m at 5.2g/t gold.

BNGRC025
2m at 3.4g/t gold from 10m.

Bongou W2 remains open at depth and along strike for at least 150m to the west.

Bongou W8 (2km from Bongou)

BNGRC023
8m at 1.7g/t gold from 18m, including 1m at 5.3g/t gold.

Target is open to depth and to the west.

“This program was planned to make low cost, shallow drill tests of multiple targets,” Predictive Discovery managing director Paul Roberts said in the company’s announcement to the Australian Securities Exchange.

“Most of the drill holes were less than 30 metres deep and we have also demonstrated good hole-to-hole continuity in at least three of the new prospects.

“The next step is to follow up the new gold discoveries with deeper drilling along strike and down-dip with the aim of delineating new resources to add to the high-grade Bongou discovery.”

Predictive indicated its exploration season is over for now with the onset of the rainy season in Burkina Faso.

The company said it will now undertake a project-wide assessment of all drill results to date before designing its next drill program.

It explained the next program will focus on using the latest results to delineate resources to add to 184,000 ounces in the Inferred and Indicated Mineral Resource categories with an average grade of 2.6g/t gold including 136,000 ounces at 3.8g/t gold Bongou Resource.

Website: www.predictivediscovery.com

THE DRILL SERGEANT: West African Resources (ASX: WAF) reported first results from shallow oxide drilling carried out at the Mankarga 1 (M1) prospect, on the company’s Tanlouka permit in Burkina Faso.

Recent RC drilling undertaken by WAF at the M1 prospect intercepted oxide mineralisation beneath historic artisanal workings with two scissor holes ending in mineralisation.

The company explained it is now completing shallow first pass RC drilling with an Aircore rig.

Two holes, TAC0657 and TAC0658, both ended in quartz veining returning: 8 metres at 1.5 grams per tonne gold and 6m at 1.3g/t gold respectively.

These results are up dip of a previous RC hole TAN10-RC-23, WAF drilled in 2010, which returned results of 2m at 25g/t gold from 58m.

WAF said it expects oxide mineralisation from M1 will exhibit similar metallurgical characteristics to M5 oxides, from which it presumes it will be amenable to heap leach processing.

“Shallow RC drilling at the M1 prospect has intercepted mineralisation in the oxide zone beneath artisanal workings and above historic drilling,” West African Resources managing Director Richard Hyde sadi in the company’s announcement to the Australian Securities Exchange.

“The results at M1 will be added to the current Feasibility Study.

“Adding higher grade oxide tonnes to the mine schedule will enhance the economics of the project.

“RC drilling is ongoing at M1 and, importantly, only 15 per cent of the current program has been completed.”

WAF explained none of the gold mineralisation at the M1 prospect is currently included the project resource inventory.

The M1 mineralisation will be modelled and incorporated in a resource update later this year, and subsequently added to the mine schedule.

The company anticipates any additional higher grade oxide tonnes will have a positive impact on the project economics.

RC drilling at M1 has produced initial results including:

TAC0656
2m at 0.78g/t gold from surface and 1m at 0.74g/t gold from 6m;

TAC0657
8m at 1.45g/t gold from 25m, ending in mineralisation;

TAC0658
6m at 1.32g/t gold from 21m, ending in mineralisation; and

TAC0659
1m at 0.65g/t gold from surface.

WAF declared it is fully-funded by Macquarie Bank to complete a Feasibility Study for a heap leach starter project by Q3 of this year, which will incorporate any positive results from ongoing exploration programs.

Email: info@westafricanresources.com

Website: www.westafricanresources.com

THE DRILL SERGEANT: IronClad Mining (ASX: IFE) announced the commencement of a 6000 metre drilling program at the company’s Jumbuck gold project in the North Western Gawler Craton in South Australia.

The Jumbuck project is located approximately 45 kilometres from the Challenger gold mine.

The program is to consist a total of 110 air core (AC) and Reverse Circulation (RC) holes, which have been planned to be carried out at three of the project’s more advanced prospects – Golf Bore, Golf Bore North and Camp Fire Bore.

“The Golf Bore and Campfire Bore prospects are within the Kingsgate Joint Venture area (IFE 53.4% – KCN 46.6%),” IronClad said in the company’s ASX announcement.

“The program and budget has been approved by both parties to the Joint venture.

“Golf Bore North lies within IronClad’s 100 per cent-owned EL 5526 (Galaxy Tank) and drilling of 25 planned AC holes (approx. 1250m) in that area remains subject to native title clearance.”

The drilling is being co-funded by the South Australian Government to the tune of $75,000 through its Programme for Accelerated Exploration (PACE) initiative.

IronClad explained all drilling targets are currently constrained to an area within 50kms from the Challenger milling operations where, subject to certain conditions, all joint venture ore can be treated.

Website: www.ironcladmining.com.au

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) has completed a geophysical survey on the company’s Alacrán project, located in the northern Mexican state of Sonora.

This was the first modern IP survey to have been undertaken on the Alacrán project and Azure said it had provided a detailed, deep-looking coverage of the La Morita area.

The survey comprised ten, 200 metre-spaced east-west lines totalling 26 line kilometres, covering approximately five square kilometres.

According to Azure the survey identified a number of strong and well defined chargeability anomalies within the survey area, starting about 150m below surface and continuing to the maximum penetration depth of the IP survey (at least 400m below surface).

Three chargeability anomalies have been interpreted to represent substantial bodies of sulphide-rich mineralisation.

These are also associated with a deeper conductive body which is interpreted to be an intrusive.

One chargeability anomaly, identified as Zone C, lies beneath the La Morita mine workings where previous mapping and sampling conducted by Azure identified exposures of exotic copper and mixed copper sulphide mineralisation.

The company said this particular IP result supports its belief that zones of copper sulphide mineralisation may extend to depth beneath La Morita.

Azure indicated it intends testing that model by drilling in its upcoming program.

Two larger and stronger adjoining chargeability anomalies – identified as Zones A and B – were shown to extend in a north-south orientation for more than one kilometre.

Both zones come to within 150m to 200m of surface and are capped by a resistive surface layer, which Azure considers to likely represent intense silicification of the host rocks.

“We believe that Alacrán has the potential to host substantial mineral deposits, and the very positive results from this IP survey support this view by identifying strong anomalies that are interpreted to represent near-surface precious metal mineralisation and deeper porphyry copper mineralisation,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“When these results are combined with the geological and geochemical data gathered over the past six months, the prospectivity of the project is evident and numerous high-priority drill targets have been identified.

“I’m keen to start drill testing these anomalies as soon as possible, and I look forward to updating shareholders of further progress and results as they become available.”

Email: admin@azureminerals.com.au

Website: www.azureminerals.com.au