Catalyst Metals records best gold hits to date at Hayanmi prospect

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THE DRILL SERGEANT: Catalyst Metals (ASX: CYL) announced its best gold intersections to date at the Four Eagles gold project, located near Bendigo in Victoria.

The company has carried out a two hole program of angled air core drilling, which intersected two broad zones of gold mineralisation with internal high-grades up to 18 grams per tonne gold at the Hayanmi prospect.

The two holes were drilled 1.6 kilometres apart and, according to Catalyst, have extended the prospect’s previously reported mineralised zone.

The Hayanmi prospect is one of three defined lines of gold mineralisation at the Four Eagles gold project.

Catalyst explained the angled air core program was designed to infill a 2.6 kilometre long mineralised zone to a spacing of about 200m.

Twenty-seven holes were completed on seven east west traverses across the interpreted mineralised structure with most traverses containing at least one gold intersection of note, including:

FE696
42 metres at 2.12 grams per tonne gold, including 21m at 3.42g/t gold or 6m at 9.6g/t gold;

FE700
24m at 2.31g/t gold, including 15m at 3.36g/t gold or 3m at 12.4g/t gold;

FE679
3m at 2.86g/t gold;

FE681
6m at 0.91g/t gold;

FE684
3m at 2.57g/t gold; and

FE686
3m at 1.23g/t gold.

“These broad intersections are the best that we have ever seen at Four Eagles and the combination of low and high grades is encouraging,” Catalyst Metals technical director Bruce Kay said in the company’s announcement to the Australian Securities Exchange.

“This is the first major deep angled drilling program that has been carried out across the Hayanmi mineralised corridor and seems to confirm that the gold mineralisation is disseminated within a steeply dipping shear zone.”

Website: www.catalystmetals.com.au

Horseshoe Metals continues run-of-fun at Horseshoe Lights

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THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has continued its recent run of good news with encouraging copper assays resulting from an ongoing resource and exploration drilling program being carried out at the company’s 100 per cent-owned Horseshoe Lights copper-gold project in the Gascoyne region of Western Australia.

Fourteen holes have been drilled to date (RC1110 ‐ RC1123) at the Motters Zone, a shallow zone of mainly oxide copper mineralisation which the company considers to be a northern extension of the ‘East Lode Mineralisation’, or possibly, a fault offset extension from the Main Zone of the Horseshoe Lights deposit.

Assay results have been received for five holes (RC1110 ‐ RC1114), with each hole intersecting a wide zone of oxide copper mineralisation, mostly from surface, including:

RC1112
37 metres (0–37m) at 1.1 per cent copper, including 10m (10‐20m) at 2.1 per cent copper.

RC1110
35m (0‐35m) at 0.9 per cent copper;

RC1114
30m (15‐45m) at 0.7 per cent copper;

RC1111
16m (0‐16m) at 0.7 per cent copper; and

RC1113
10m (0‐10m) at 0.7 per cent copper and 21m (13‐34m) at 0.6 per cent copper.

Horseshoe Metals said it had taken some positives from the results from the first five drill holes at the Motters Zone, saying they appear to confirm and expand the extent of copper mineralisation when compared with earlier drilling results.
 
“The latest assay results come from resource drill holes at the Motters Zone, where oxide copper mineralisation exists at surface,” Horseshoe Metals said in its ASX announcement.

“This drilling has intersected significant intervals of copper mineralisation, in line with results previously reported from the current drilling program.

“The latest batch of results add greater certainty to the existing mineral resource block model and, importantly, copper mineralisation outside the existing resource model has been intersected, highlighting further resource expansion potential.”

Website: www.horseshoemetals.com.au

Phoenix Copper scores further high grade assays at Mount Bonnie

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THE DRILL SERGEANT: Phoenix Copper (ASX: PNX) reported assay results from three reverse circulation (RC) holes drilled at the company’s 100 per cent-owned Mount Bonnie deposit, located within the Hayes Creek project in the Pine Creek region of the Northern Territory.

The company said the latest results demonstrate grade and continuity within the deposit along with the potential of continuing mineralisation to the north-west.

Phoenix Copper completed a 12 hole RC drill program at Mount Bonnie in late May, in part of which drill holes MBRC16, MBRC17 and MBRC018 were designed to test the continuation of known mineralisation.

Hole MBRC016 encountered multi-element sulphide mineralisation in of considerable thickness of 15 metres containing 6.99 per cent zinc, 0.78 grams per tonne gold, 157g/t silver, 0.5 per cent copper, and 1.14 per cent lead from 54m (an equivalent gold value of 6.65g/t).

Hole MBRC017 further to the north intersected a 6m zone of similar mineralisation containing 7.34 per cent zinc, 2.01g/t gold, 216g/t silver, 0.52 per cent copper, and 1.43 per cent lead from 54m (an equivalent gold value of 8.83g/t).

MBRC018 was abandoned short of planned depth and anticipated mineralisation due to excessive water flows.

“The results from the first six holes drilled at Mount Bonnie demonstrate excellent near-surface continuity of mineralisation and contain high grades of zinc, gold and silver,” Phoenix Copper managing director James Fox said in the company’s announcement to the Australian Securities Exchange.

“It is encouraging to see the growth potential of the deposit beyond the areas drilled by way of an untested lower EM conductor which we will aim to test in the next round of drilling.

“An initial resource at Mount Bonnie will be estimated shortly.

“When combined with the mineral resources already defined at Iron Blow we feel that sufficient contained metal exists at the Hayes Creek project to justify commencement of a scoping study which will aim to demonstrate the economic potential of this project.”

Email: info@phoenixcopper.com.au

Website: www.phoenixcopper.com.au

Geopacific Resources encounters new gold zone at Kou Sa

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THE DRILL SERGEANT: Geopacific Resources (ASX: GPR) has claimed to have confirmed a new gold zone at the company’s Kou Sa project in Cambodia.

The company has intercepted gold mineralisation when drilling the first of a program of diamond holes into the project’s Prospect 190 gold geochemical anomaly, which corroborated earlier soil geochemistry that suggested the one kilometre long, 200 metre wide anomalous zone would be a gold only target.

Geopacific considers the width and interpreted strike length of the zone implies potential to host a substantial sulphide gold zone.

Gold mineralisation has been identified in two zones, one of which commences from surface and the other from a depth of 21m.

According to Geopacific the gold is associated with narrow pyrite veins within a strongly foliated breccia zone.

Single metre samples have grades up to 2.46 grams per tonne gold within broader zones.

“This is the first time we have drilled a gold-only geochemical anomaly at Kou Sa and to get immediate results so close to surface is very encouraging,” Geopacific Resources managing director Ron Heeks said in the company’s announcement to the Australian Securities Exchange.

“We were confident from mapping and surface sampling that the area had the potential to produce gold mineralisation and this is now confirmed.

“The shear hosted nature of the mineralisation has the potential to be deep and long.

“The similarities in geology and geochemistry between the Prospect 170 and 190 gold anomalies are encouraging and we await results from initial testing at Prospect 170.”

Email: info@geopacific.com.au

Website: www.geopacific.com.au

Red River identifies feeder zones with first Wattle Tree drillhole

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THE DRILL SERGEANT: Red River Resources (ASX: RVR) has intersected disseminated and stringer, zinc-lead-copper sulphide mineralisation with the first exploration drill hole (TH665) at the company’s Wattle Tree prospect.

The Wattle Tree prospect is part of the company’s Thalanga zinc project, located west of Charters Towers in North Queensland.

Red River claims TH665 has confirmed the presence of:

Mineralised feeder zones similar in nature to feeder zones intersected in historic drill holes beneath the known massive sulphide mineralisation at the Thalanga and West 45 deposits; and

Has also intersected multiple Quartz Eye Volcaniclastic (QEV) units, which the company explained forms the host rock to the massive sulphide mineralisation at Thalanga and West 45, with the more permeable nature of the QEV allowing the mineralising fluids of the feeder zone to penetrate and replace the QEV, depositing massive sulphide mineralisation.

“We are very excited by this result as TH665 has confirmed the presence of the two key ingredients for massive sulphide mineralisation in the Thalanga project area – the mineralised feeder zone and the QEV host rock,” Red River Resources managing director Donald Garner said in the company’s announcement to the Australian Securities Exchange.

“TH665 has hit the plumbing (feeder zone) which is similar in style and nature to the feeder zones associated with Thalanga and West 45.

“The presence of mineralised feeder zones is potentially indicative of a substantial mineralising event, and we have also hit a number of previously unknown QEV units which host the massive sulphide mineralisation at Thalanga and West 45.

“To have identified a previously unknown mineralised system with the second drill hole of Red River’s maiden exploration drilling program at Thalanga is a great result and validates our systematic approach to exploration.”

Red River explained the Thalanga exploration program is part of the company’s overall exploration strategy with the objective of identifying additional resources to extend the mine life of the Thalanga zinc project, where it is working towards restarting zinc production by the end of 2015.

Email: info@redriverresources.com.au

Website: www.redriverresources.com.au

Rox identifies new Fisher East conductors

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) has continued its run of promising exploration results from the company’s Fisher East nickel project, north of Kalgoorlie in Western Australia.

Rox recently completed an airborne Versatile Time Domain Electro-Magnetic (VTEM) survey along strike and to the south of the Camelwood and Musket nickel sulphide deposits at Fisher East.

The survey has allowed the company to identify a number of conductors along the trend of the Fisher East ultramafic unit that hosts the nickel sulphide deposits Rox has discovered over the last two and a half years.

The company’s attention has been drawn to one particular area, situated about five kilometres to the south of the recent Sabre discovery, with a cluster of five conductors, with other conductors further south than those.

“We are very pleased with the results of this VTEM survey, which was designed to detect accumulations of nickel sulphide mineralisation,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We have used this technique very successfully in the past and these new conductors, situated along the trend of the Fisher East ultramafic unit where we have already successfully discovered a number of nickel sulphide deposits, are very encouraging.”

Rox indicated it was continuing its evaluation of the VTEM survey with the assistance of the company’s geophysical consultants, Southern Geoscience.

This is anticipated to lead to the design of a drilling program.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Oro Verde samples high-grade gold at Topacio

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THE DRILL SERGEANT: Oro Verde (ASX: OVL) announced it has encountered additional areas of high-grade gold from a reconnaissance sampling program underway at the company’s Topacio gold project in southeastern Nicaragua.

The company said its recent reconnaissance covered multiple veins located outside of the Topacio resource area:

Including the West Mico, Gallina, Chicago and Celedonio veins and the Buena Vista area.

Rock chip and old stockpile samples taken at the Mico/Gallina/Chicago veins to the northwest of the Topacio resource area return important high grade gold results, including:

West Mico samples: 23.9 grams per tonne gold, 21.4g/t gold and 10.8g/t gold.

Gallina samples: 6.49g/t gold and 3.57g/t gold.

Chicago samples: 7.98g/t gold.

Oro Verde claimed follow up sampling from a new target area at Buena Vista had confirmed and extended gold mineralisation in a potentially new system, including: 3.35g/t gold and 1.48g/t gold.

“Our reconnaissance sampling campaigns continue to confirm undrilled gold mineralisation outside the known resource area,” Oro Verde managing director Trevor Woolfe said in the company’s announcement to the Australian Securities Exchange.

“The northwest region looks very prospective, while follow up on the recently announced Buena Vista mineralisation, six kilometres to the northeast of Topacio, confirmed our earlier anomalous gold results.”

Oro Verde has taken sampling from old workings, outcrops and road cuts to the northwest, which it said contained high-grade gold values (including 23.9g/t), with the highest coming from the West Mico vein dumps and a 2.2 metre channel sample along a road cut.

The company considers these results to have confirmed the western extension of the Mico vein can produce consistent high-gold grades.

Oro Verdes said it had been encouraged by the results from the Gallina and Chicago veins, saying these provide further evidence of the potential to increase the current resource in the northwestern section.

Oro Verde recently announced gold mineralisation six kilometres northeast of the Topacio resource area at the Buena Vista prospect, where an initial rock chip sample returned a gold grade of 2.97g/t in surface sub-crop.

A repeat sample was collected from the same subcrop in this latest program, returning a 3.35g/t gold, which Oro Verde considers to have confirmed the presence of mineralisation.

Website: www.oroverde.com.au

Doray Gnaweeda drilling hits gold close to Andy Well

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THE DRILL SERGEANT: Doray Minerals (ASX: DRM) has scored a number of high-grade gold results from a maiden drilling campaign being carried out on the Turnberry prospect at the company’s 88 per cent-owned Gnaweeda project (12% Chalice Gold [ASX: CHN]).

Gnaweeda is located approximately 15km south east of Doray’s Andy Well gold project, in the northern Murchison region of Western Australia.

Doray considers the proximity of Gnaweeda to Andy Well provides potential for additional high-grade ore within trucking distance of the Andy Well processing plant.

The drilling campaign was conducted with the aim of confirming a number of historic high-grade drill results within the project.

Highlights from the results returned include:

TBRC002
1 metre @ 37.2 grams per tonne gold from 75 metres downhole (mdh)

TBRC003
1m @ 12.2g/t goldu from 142mdh, and 3m @ 10.1g/t gold from 149mdh;

TBRC005
5m @ 17.4g/t gold from 71mdh, including 1m @ 79.8g/t gold from 72mdh;

TBRC007
4m @ 17.9g/t gold from 45mdh, including 1m @ 63.3g/t gold from 46mdh, and 37m @ 1.1g/t gold from 212mdh; and

TBRC008
2m @ 5.8g/t gold from 101mdh, including 1m @ 10.4g/t gold from 102mdh.

“Having an operating processing plant at Andy Well opens up a number of potential opportunities for additional ore sources within trucking distance, such as at Gnaweeda,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securirties Exchange.

“This first drilling campaign at Turnberry has been very successful and we look forward to outlining the opportunity with further drilling.”

Doray drilled eight RC holes at Turnberry, targeting mineralisation intersected by previous explorers.

The company explained the previous drilling at Turnberry was considered to be either too shallow, or not systematic enough to confirm geological controls to mineralisation, and the latest drilling was targeted below these sporadic previous intersections, to test the concept of a simple steep-dipping shear zone.

Doray’s interpretation was based on re-logging of existing drill core and re-interpretation of geophysical datasets by Doray staff.

Drilling aimed to test this interpretation along a strike length of approximately 120m.

The company indicated it anticipates follow-up RC drilling and exploration field work will be completed at Turnberry in the September quarter.

Email: info@dorayminerals.com.au

Website: www.dorayminerals.com.au

Blackham Resources updates Matilda Resource

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has updated the resource estimate for the company’s Matilda Mining Centre near Wiluna in Western Australia.

The Matilda Mine resource now totals 12.5 million tonnes at 1.8 grams per tonne gold for 713,000 ounces of gold.

The Measured and Indicated resource now sits at 7.26 million tonnes at 1.8g/t gold for 424,000 ounces of gold.

Blackham indicated the new totals represent a 40 per cent increase in Indicated and Measured ounces on the previous resource estimate for zones M1 through M5.

“The increase in the Measured and Indicated resources at the Matilda Mine gives us further confidence for the mining studies and allows the management team to move quickly with the next phase of feasibility studies,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“The Matilda Mine is shaping up as an important source of base load free milling ore to re-commission the Wiluna gold plant by Quarter Two, 2016.”

Blackham is continuing its mining studies on the new Matilda mine resource with initial assessments on the current resource indicating the recent discoveries of shallow mineralisation at Iceberg 2 and Scorches Lodes immediately to the north and south of the M4 Pit influence the optimisations to extend in each direction.

The company is currently conducting around 2,000 metres of diamond drilling at the Matilda mine to upgrade the resource confidence, geotechnical and metallurgy.

Additional RC drilling is planned to infill the new zones to ensure any additional mineralisation is included in the next resource update.

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au

Geopacfic Resources identifies new Cambodia mineralised zone

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THE DRILL SERGEANT: Geopacific Resources (ASX: GPR) released results from the first of two drill holes being carried out south of Prospect 190 at the company’s 85 per cent-interest Kou-Sa copper-gold project in Cambodia.

The company said that from hole KDH085 it has identified multiple zones of copper and silver mineralisation.

Geopacific used Induced Polarisation (IP) geophysics to identify the drill targets, which comprise two 600 metre long chargeability anomalies.

The company claims its use of IP Geophysics and geochemistry enabled it to consistently and accurately identify drill targets that yield impressive results.

It backed that statement up with stats of over 80 per cent of the drill holes at the Kou Sa project exhibiting mineralisation.

“Once again we have gone to an entirely new area identified from IP geophysics and have hit mineralisation in the very first hole,” Geopacific Resources managing director Ron Heeks said in the company’s announcement to the Australian Securities Exchange.

 

Source: Company announcement

 

“The second hole drilled in the parallel zone to the south is also expected to confirm copper and silver mineralisation.

“The upside of this project is increasing rapidly and I look forward to the results from further drilling in these areas.

“The results continue to prove the effectiveness of IP geophysics at identifying new zones of mineralisation within the Kou Sa project.”

Geopacific indicated it is yet to test the area between the chargeability anomalies of Prospect 190 and Prospect 128 by IP geophysics, and as such anomalies on the edge of both surveys not fully defined.

The company has scheduled follow-up IP geophysics in this area to establish the extent of the current chargeability trend that stretches from Prospect 160 in the west to Prospect 128 in the east.

A number of anomalies, mainly around the Prospect 128 area, are currently being drilled.

Email: info@geopacific.com.au

Website: www.geopacific.com.au