Ramelius releases maiden Resource for Blackmans deposit

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THE DRILL SERGEANT: Ramelius Resources (ASX: RMS) announced a maiden Mineral Resource estimate for the company’s Blackmans gold deposit, located 30 kilometres north of Mt Magnet in Western Australia.

The Total Mineral Resource has been estimated at 490,000 tonnes at 2.5 grams per tonne gold for 39,000 contained ounces.

Ramelius has completed initial scoping work it said suggests a viable open pit operation.

The company has commenced a more detailed evaluation as well as heritage and environmental work with a view to gaining all required permitting for an open pit mining operation.

The company has also received results from deeper exploration drilling, carried out in May 2015 below the resource estimate envelope, including:

BMRC0053
10 metres at 15.76g/t gold from 104m in; and

BMRC0048
10m at 3.81g/t gold from 63m;

“The Blackmans project has the potential to provide a valuable source of oxide ore for the Mt Magnet operation,” Ramelius Resources chief executive Mark Zeptner said in the company’s announcement to the Australian Securities Exchange.

“Evaluation and permitting work on the project is already underway with a target of adding Blackmans to the life-of-mine plan in the 2016 calendar year.

“The overall production profile published by Ramelius does not currently include any contribution from Blackmans and the fact that we have some excellent intersections that currently sit outside the Mineral Resource highlights the potential positive impact that this project may have on the company’s future gold production.”

Email: info@rameliusresources.com.au

Website: www.rameliusresources.com.au

Peel Mining hits Barganza intersections at Mallee Bull

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) set the boards alight with the release of recent drilling results from the company’s Mallee Bull project near Cobar in Western New South Wales.

The drilling encountered some very impressive intersections of near-surface zinc-lead-silver-gold mineralisation, including:

MBRC024
12 metres at 20.3 per cent zinc, 14.81 per cent lead, 0.54 per cent copper, 308 grams per tonne silver and 1.59g/t Au from 83m, including 7m at 31.44 per cent zinc, 19.37 per cent lead, 0.58 per cent copper, 440g/t silver, 2.53g/t Au from 83m;

MBRC023
6m at 10.57 per cent zinc, 4.81 per cent lead, 53g/t silver and 0.39g/t gold from 121m, including 2m at 26.65 per cent zinc, 11.88 per cent lead, 0.16 per cent copper, 121g/t silver, 0.69g/t gold from 122m;

BRC021
6m at 10.3 per cent zinc, 4.98 per cent lead, 159g/t silver, 0.76g/t gold from 95m, including 2m at 27.7 per cent zinc, 13.4 per cent lead, 430g/t silver, 1.9g/t gold from 96m; and

MBRC019
4m at 8.21 per cent zinc, 3.35 per cent lead, 113g/t silver, 1.02g/t gold from 88m, including 2m at 14.11 per cent zinc, 5.7 per cent lead, 194g/t silver, 1.93g/t gold from 89m.

MBRC019 to MBRC024 were designed to follow-up on newly discovered mineralisation at the T1 target to the east of Mallee Bull.

All intersected zinc-lead-silver-gold mineralisation.

“This is a very important development for Mallee Bull – exceptionally high-grade zinc-lead-silver-gold mineralisation, open in all directions and within open pit mining depths,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchanged.

“Mallee Bull has once again confirmed its position amongst the most important greenfield’s discoveries in Australia in recent times.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au

Coppermoly extracts high-grade copper results from Nakru samples

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THE DRILL SERGEANT: Coppermoly Limited (ASX: COY) has released final assay results from rock float samples collected on the company’s Nakru exploration licence (EL 1043) on New Britain Island in Papua New Guinea.

The company explained the assays are for previously announced samples that contain high-grade material and were listed previously as containing greater than two per cent copper or two per cent zinc.

Coppermoly collected fifteen rock float (talus debris) samples at the Nakru 2 Northwest and Nakru 4 prospects located approximately 500m to 1000m northwest from known mineralisation at Nakru 2 and Nakru 1 prospects in February 2015.

The three samples from Nakru 2 Northwest (NK2-0011 to NK2-0013) each assayed greater than two per cent copper and together with highly anomalous gold, silver, zinc and molybdenum, which the company interpreted to confirm previously reported high-grade float samples in.

Coppermoly is of the opinion the samples may indicate a new parallel mineralised zone north west of Nakru 2.

Six of the twelve float samples (NK4-014 to NK14-025) collected from the Nakru 4 prospect assayed greater than one per cent copper with two greater than two per cent.

The company considers these samples could also indicate a new parallel mineralised zone to the north of Nakru 1 prospect.

“All of the samples with elevated copper contain sulphides with little or no oxidation,” Coppermoly said in its ASX announcement.

“The dominant sulphides are pyrite and secondary chalcocite with some chalcopyrite.

“The float samples are considered to have a local provenance as the topography is relatively subdued limiting downslope movement and the samples are relatively unoxidised suggesting recent exhumation.

“The sulphide mineralisation is associated with strongly developed silica + sericite + clay altered rho-dacite breccias.

“Similar rocks host mineralisation at Nakru 1 and Nakru 2 prospects.”

Coppermoly claims the results of the samples further extend the potential of the Nakru prospect to host a large copper and gold deposit.

The company is now planning a detailed surface mapping and sampling program to determine the full extent of the mineralised system at Nakru.

Email: info@coppermoly.com.au

Website: www.coppermoly.com.au

Horseshoe Metals continues copper run at Horseshoe Lights

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THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has continued its encouraging run of high-grade assay results from ongoing resource and exploration drilling being carried out at the company’s 100 per cent-owned Horseshoe Lights copper/gold project in the Gascoyne region of Western Australia.

“Drilling has intersected significant zones of copper mineralisation, which will add greater certainty of the existing mineral resource block model and has also intersected broad zones of copper outside the existing resource model, highlighting further resource expansion potential,” the company said in its ASX announcement.

The latest results follow up others the company released in May from the program, which is designed to add copper tonnes and grade to the existing mineral resource block model with a particular focus within the optimised pit shell from a 2014 Scoping Study.

Two holes (RC1107 & RC1108) were drilled on the east side of the pit.

The best zone of copper mineralisation recorded in RC1108 was:

10 metres (126 – 136m) at 2.1 per cent copper, including 3m (126 – 129m) at 4.5 per cent copper.

The best zone of copper mineralisation recorded in RC1107 was:

6m (95 – 101m) at 1.5 per cent copper, including 3m (96 – 99m) at 2.4 per cent copper.

Horseshoe explained the high-grade interval recorded in RC1108 (10m at 2.1% copper) is situated approximately 80m above an earlier drill hole (RC1101), which recorded 32m at 1.8 per cent copper, including 2m at 5.5 per cent copper.

The company considers these two intersections to be within the same structure which remains open at depth.

Additional drill holes are planned to further test this structure including its southerly extension later in the program.

 

Drill hole location plan. Source: Company announcement

 

Two holes (RC1105 & RC1106) were drilled at the northern end of the pit.

RC1105 recorded several zones of copper mineralisation including:

11m (36 – 47m) at 0.9 per cent copper, including 1m (41 – 42m) at 2.2 per cent copper;

6m (48 – 54m) at 1.2 per cent copper, including 1m (49 – 50m) at 4.2 per cent copper;

15m (56 – 71m) at 0.8 per cent copper; and

33m (86 – 119m) at 0.8 per cent copper, including 3m (91 – 94m) at 2.3 per cent copper.

RC1106 also recorded several zones of copper mineralisation including:

13m (50 – 63m) at 0.9 per cent copper;

27m (68 – 95m) at 0.7 per cent copper, including 1m (80 – 81m) at 2.0 per cent copper and 1m (83 – 84m) at 2.4 per cent copper;

10m (116 – 126m) at 0.7 per cent copper, including 1m (124 – 125m) at 2.0 per cent copper; and

5m (154 – 159m) at 1.0 per cent copper, including 1m (157 – 158m) at 2.6 per cent copper.

The resource drilling program at the Horseshoe Lights mine is ongoing and is expected to run to at least 30 June 2015.

Horseshoe Metals has a heritage survey to clear drill sites at the new exploration target areas of Saturn, Titan and Tethys planned to be undertaken in early July.

Once the survey is completed the company expects to commence initial drill testing of these largely untested copper/gold target areas as soon as possible.

Website: www.horseshoemetals.com.au

Potash West upgrades Dinner Hill phosphate and potash Resources

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THE DRILL SERGEANT: Potash West (ASX: PWN) has announced an increase to the potash and phosphate resources at its wholly-owned Dinner Hill project, located to the north of Perth within the company’s 100 per cent-owned Dandaragan Trough project area.

The Dinner Hill Deposit has, above a cut-off grade of 1.45 per cent phosphate, an Indicated Mineral Resource of 250 million tonnes at 2.9 per cent phosphate.

Within this phosphate resource there is an Indicated Mineral Resource of 155 million tonnes at 4.1 per cent potassium oxide and an Inferred Mineral Resource of 20 million tonnes at 2 per cent potassium oxide.

An additional Indicated Mineral Resource of 18 million tonnes at 3.8 per cent potassium oxide occurs marginal to the phosphate resource.

The resource update was calculated from drilling the company carried out in 2014 and 2015 comprising an additional 90 aircore drill holes.

The recent drilling extended the north-south length of the resources from 4000m to 7200m and the east-west width in the central portion of the deposit from approximately 2700m to 3700m.

“These are very pleasing results, which have further highlighted the world class size and prospectivity of our Dandaragan Trough project,” Potash West managing director Patrick McManus said in the company’s announcement to the Australian Securities Exchange.

“This drill program had several objectives: To identify the extent of mineralisation, to allow a definition of the deposit sufficient to delineate an area that will be affected by mining, for permitting purposes; To obtain samples to complete metallurgical and process development testwork, sufficient for feasibility studies; and to drill a sample area of the deposit to confirm the drill density that will be required to report a JORC resource to a Measured Resource category.

“These were all achieved. Importantly, the mineral inventory for phosphate production has increased substantially, and there is still a significant area of the prospective Dinner Hill tenement to be explored.

“Phosphate and potash mineralisation are open to the east and to the south, which offers considerable upside at Dinner Hill for increased project life, or capacity increases.

“We look forward to incorporating these new findings into the scoping study for Dinner Hill.”

Email: info@potashwest.com.au

Website: www.potashwest.com.au

Azure cock-a-hoop with Alacran results

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THE DRILL SERGEANT: Azure Minerals (ASX: AZS) stood up in its toes to announce it had received “exceptional results” from an ongoing sampling program being carried out on the company’s Alacrán project, located in the northern Mexican state of Sonora.

Highlights from the results include channel sampling of La Morita underground mineralised zones returns of:

17 metres at 4.3 per cent copper (includes 2.5m at 20.5 per cent copper; 2.2m at 2.7 per cent copper & 1.5m at 3.1per cent copper); and

117m at 0.33 per cent copper.

Azure also completed surface sampling at several new areas, which returned – what it described as – “bonanza” silver grades plus high-grades in other metals.

 

Source: Company announcement

 

“While the IP and soil sampling surveys are in progress at La Morita and San Simon, we’ve continued our exploration activities across the wider

Alacrán property,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“Results continue to exceed our expectations, with several new areas returning strong precious and base metal mineralisation which we are following up.

“Specifically, at the Mesa de Plata prospect, which is located nearby to San Simon, we’ve discovered an extensive new zone of high-grade silver mineralisation at surface, where almost every sample returned silver grades in the 30 grams per tonne to 100 grams per tonne range, and even up to 213 grams per tonne.

“In addition, high silver, copper, lead and zinc assays, including bonanza silver grades, have been returned from sampling around newly identified, artisanal mine workings in the north and east of the Alacrán project area.

“La Morita, San Simon, Mesa de Plata and Palo Seco are all exciting drill targets.

“We will start drilling there as soon as all the necessary approvals are received, which are expected in July.”

Email: admin@azureminerals.com.au

Website: www.azureminerals.com.au

Adelaide Resources hits copper at Alford West

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THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has reported drilling results from the company’s 100 per cent-owned Moonta copper project in South Australia.

According to the company the first deeper drilling it has carried out at the Alford West prospect has encountered broad intersections of moderate grade copper.

A drilling program of eight Reverse Circulation (RC) holes at the Alford West prospect has intersected copper mineralisation at both the Larwood and Bruce zones, which the company declared had confirmed depth continuity.

Drilling at the Bruce zone returned:

AWRC006
20 metres at 0.56 per cent copper and 0.11 grams per tonne gold from 131m, including 6m at 1.12 per cent copper and 0.17g/t gold from 135m; and

AWRC008
11m at 0.87 per cent copper and 0.10g/t gold from 169m, including 9m at 1.01 per cent copper and 0.08g/t gold from 170m.

Over at the Larwood zone, drilling returned results of:

AWRC002
17m at 0.41 per cent copper and 0.19g/t gold from 93m; and

AWRC004
11m at 0.54 per cent copper and 0.12g/t gold from 166m.

“The new results will be incorporated with previous drill data and the 3D model of the Alford West deposit updated with a view to releasing a resource calculated under JORC guidelines,” Adelaide Resources said in its ASX announcement.

“Alford West deserves further substantial drilling and the company is assessing the various options available to fund this work.”

Adelaide Resources said it was now undertaking a 1,000m diamond drilling program at the company’s 100 per cent-owned Barns and Baggy Green gold projects on the Eyre Peninsula with results anticipated to be released around the end of June.

Email: adres@adelaideresources.com.au

Website: www.adelaideresources.com.au

Ardiden confirms jumbo and large flake graphite at Manitouwadge

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THE DRILL SERGEANT: Ardiden Limited (ASX: ADV) told the market it has received encouraging metallurgical beneficiation test results from the company’s 100 per cent-owned Manitouwadge jumbo flake graphite project in Ontario, Canada.

The metallurgical test work was undertaken on two drill core samples from the company’s March 2015 drill program.

Ardiden said the results indicate the project contains up to 80 per cent jumbo and large flake graphite using a refined beneficiation process compared to previous testing on surface samples it reported in 2014.

The company said the testing also confirmed simple, low cost gravity and flotation beneficiation achieved total graphitic carbon (TGC) grades of up to 95.6 per cent (jumbo flake) and up to 93.7 per cent (large flake).

The flake size distribution places the Manitouwadge project at the top end of global graphite projects,” Ardiden Limited said in its ASX announcement.

“The confirmation of the presence of high-value jumbo and large flake graphite that can be beneficiated with low cost gravity and flotation indicates the project has potential for a shallow surface mining operation extracting high-value graphite products.”

Ardiden indicated it is now preparing a bulk sample of graphite from recent drilling.

The company explained that beneficiated graphite samples from this program will be provided to customers as samples and used for further testwork of its graphite and graphene properties.

Website: www.ardiden.com.au

Pilbara Minerals increases Pilgangoora lithium Resource

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THE DRILL SERGEANT: Pilbara Minerals (ASX: PLS) released an upgrade to the JORC Code-compliant Mineral Resource estimate for the company’s Pilgangoora tantalum-lithium project in the Pilbara region of Western Australia.

The updated Mineral Resource comprises: Indicated and Inferred Resources of 23.83 million tonnes at 0.021 per cent tantalite containing 11.3 million pounds tantalite; and

A corresponding lithium resource of 20.48 million tonnes at 1.16 per cent spodumene containing 237,000 tonnes of lithium oxide.

Within the total Mineral Resource of 23.83 million tonnes, and at a cut-off of one per cent spodumene, the Inferred and Indicated lithium Resource amounts to 12.73 million tonnes at 1.42 per cent spodumene containing 181,000 tonnes of lithium oxide.

Pilbara Minerals explained the updated Mineral Resource includes a 23 per cent increase in contained lithium oxide and a 6 per cent increase in contained tantalite.

The company added the drilling has also indicated potential for the resource to grow further.

The overall Pilgnagoora mineral resource now comprises 11.3 million pounds of contained tantalite and 237,000 tonnes of contained lithium oxide, with recent extensional drilling adding 45,000 tonnes of contained lithium oxide to the Inferred category.

“This interim upgrade builds on the March resource update and, importantly, delivers a significant increment to the high-grade lithium resource,” Pilbara Minerals executive director Neil Biddle said in the company’s announcement to the Australian Securities Exchange.

“Our latest work has also clearly demonstrated the broader potential of this deposit, with the company announcing a 50 to 60 million tonnes Exploration Target which gives investors a good indication of its potential as one of the world’s largest and highest grade hard rock lithium deposits.

“Coming hard on the heels of the $6 million capital raising announced yesterday (1 June 15), this latest resource upgrade shows that we are well on track towards realising our strategy of building a long-life strategic metals business at the Pilgangoora project – supported in the short term by production and cash flow from the Tabba Tabba project.”

Website: www.pilbaraminerals.com.au

Australian Bauxite claims new Portside discovery

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THE DRILL SERGEANT: Australian Bauxite (ASX: ABX) has claimed discovery of a new bauxite production area after receiving high-grade assays from drill hole samples into the PR-18 bauxite deposit located north of Launceston and close to the Bell Bay export port, in northern Tasmania.

The company said the results had demonstrated mainly high-grade, direct shipping bauxite (DSO) at what it has called the Portside production centre.

ABX indicated Portside was most likely to become its third bauxite production centre, which fits in well with its business plan to produce from three production centres so as to maximise blending to produce consistent products.

The first two production centres are: the Campbell Town production centre, which includes the company’s operating Bald Hill mine; and the DL-130 production centre west of Launceston.

Initial bauxite resources for the Campbell Town production centre total 3.5 million tonnes while ABX’s total bauxite resources for all regions total 119 million tonnes, of which 9.2 million tonnes are in Tasmania.

The company has concluded its drilling program for the DL-130 for 2015 and anticipates a revised resource estimation to be conducted over coming months.

Once all assays from the new PR-18 discovery are received and interpreted, ABX intends carrying out additional drilling of several other known targets within the Portside production centre area.

“This discovery is a result of ABX’s proprietary exploration technology and efficient drilling by the ABX exploration team,” Australian Bauxite CEO Ian Levy said in the company’s announcement to the Australian Securities Exchange.

“Bauxite potential in this area was downgraded by early explorers because surface samples were low grade.

“ABX encountered similar surface results but the ABX exploration technology showed that good bauxite should exist in this area.

“So ABX drilled 68 reconnaissance drill holes and the 18th hole discovered this excellent bauxite in an ideal location.”

Email: corporate@australianbauxite.com.au

Website: www.australianbauxite.com.au