Lefroy Exploration Commences Grade Control Drilling Campaign at Lucky Strike

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) greeted punters at the RIU Sydney Resources Roundup with news it has commenced grade control drilling at the company’s Lucky Strike gold project in Western Australia.

Lefroy Exploration described the grade control drilling program at Lucky Strike, targeting the northern pit, as a major step towards commencing operations in the second half of 2025.

The Lucky Strike gold project contains a Mineral Resource Estimate of 1.27 million tonnes at 1.95 grams per tonne gold for 79,600 ounces (Indicated 0.7Mt at 1.93g/t gold for 43,400 ounces. Inferred 0.57Mt at 1.97g/t gold for 36,200 ounces).

Apart from undertaking close spaced grade control drilling at Lucky Strike in readiness for mining, the current program will additionally be used to capture data supporting geotechnical, hydrogeological and waste rock characterisation studies.

“Momentum is building at Lucky Strike, with our mining partners BML Ventures mobilising at the beginning of the month to commence the first phase of grade control drilling,” Lefroy Exploration CEO Graeme Gribbin said in the company’s ASX announcement.

“This and subsequent grade control drilling programs will enable the company to acquire all the necessary data to complete final pre-mining studies at Lucky Strike, setting the stage for mining operations to commence in the second half of this year.”

 

 

Alma Metals Update Briggs Copper Project Mineral Resource Estimate

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THE DRILL SERGEANT: Alma Metals (ASX: ALM) reported a revised Mineral Resource Estimate (MRE) for the company’s Briggs copper project in Queensland.

Alma Metals’ updated MRE for the Briggs project now includes both Indicated and Inferred Resource categories, and for the first time includes silver as a by-product:

INDICATED RESOURCE: 110 million tonnes at 0.27 per cent copper, 39ppm molybdenum, 0.7 grams per tonne silver (0.2% Cu cut-off)

INFERRED RESOURCE: 329 million tonnes at 0.24 per cent copper, 34ppm molybdenum, 0.6g/t silver (0.2% Cu cut-off)

TOTAL RESOURCE: 439 million tonnes at 0.25 per cent copper, 36ppm molybdenum, 0.7g/t silver (0.2% Cu cut-off)

“This updated Mineral Resource Estimate marks another important milestone for Briggs and continues to highlight the scale and robustness of the deposit,” Alma Metals managing director Frazer Tabeart said in the company’s ASX announcement.

“Not only have we defined a substantial volume of Indicated Resource, but this material sits at surface, is higher grade than the deeper mineralisation and is likely to be prioritised in the early stages of any future mining operation.

“Importantly, the block model indicates that coherent zones within the Indicated Resource are higher grade again, which could significantly enhance project economics during the initial stages of potential mining.

“We believe there’s also clear potential to convert more Inferred to Indicated Resources with further infill drilling and extensive undrilled copper-in-soil anomalies beyond the current resource footprint provide additional avenues for growth.

“This model will now form the foundation for developing a potential mining schedule as part of the Scoping Study, the first true economic evaluation of this highly significant project.

“In the context of rising copper prices, ongoing geopolitical uncertainty and more specifically the impending potential closure of the Mt Isa copper smelter, the scale, quality and secure location of Briggs couldn’t be more timely.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Leeuwin Metals Database Review Confirms High-Grade Gold Potential at Marda

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THE DRILL SERGEANT: Leeuwin Metals (ASX: LM1) has carried out a review of historical drilling results at the company’s Marda gold project in Western Australia.

Leeuwin Metals has identified extensive shallow high-grade mineralisation along a three-kilometre trend at Marda Central.

These results lie outside the four open pits previously mined by Ramelius Resources that Leeuwin considers to be an opportunity to define new mineralised zones beyond existing open pits.

The company has drilling to test these targets currently underway.

Leeuwin Metals executive chairman Christopher Piggott said in the company’s ASX announcement.
“The drilling results uncovered by the review of Marda Central strengthen our view about the substantial upside at Marda.

“The results show there is extensive mineralisation outside the mined areas, including high-grade zones, and highlight the potential to create value by extending this mineralisation, current drilling is targeting extensions of this mineralisation.

“They also show there has been little or no deeper drilling, which represents a significant opportunity for Leeuwin, particularly given that the mineralisation is hosted in banded iron formations, which are known for extending at depth.

“Given the success of this review, we will now conduct similar assessments of other key areas at Marda, including Evanston, Golden Ord and King Brown with the expectation there will be additional brownfield targets identified.

“This will be done in parallel with ongoing assessments of early-stage prospects within the project area and other opportunities within the region.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Great Boulder Resources Reports Highest- Grade Gold Intersection to Date at Eaglehawk

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THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) reported recent drilling excitement from the Eaglehawk prospect within the company’s Side Well gold project near Meekatharra in Western Australia.

Great Boulder Resources’ RC drilling effort at the Eaglehawk prospect intersected the highest-grade result to date of:

25MBRC006
3 metres at 46.7 grams per tonne gold from 139m, including 1m at 79.5g/t gold from 140m.

“This is another sensational drilling result from Eaglehawk,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“We’re seeing the results of our improved exploration targeting focussed on these very high-grade veins along the and within the dacite contact and this is the highest-grade drilling intersection we’ve seen to date.

“This result is a new zone of high-grade quartz-sulphide vein mineralisation in an area of Eaglehawk that is not well tested.

“It’s an immediate target for follow-up in the next round of RC drilling.

“We are still waiting for the last four RC holes from this program, after which we expect to see the first batches of air-core assays coming through soon.

“We’ll have more updates for the market as soon as those are available.”

The company completed eleven RC holes at Eaglehawk targeting high-grade gold mineralisation along the contact between dacite and the surrounding andesitic volcaniclastics.

Seven RC holes were also drilled at Mulga Bill to add definition around recent extensional drilling north of the current mineral resource that currently stands at 668,000 ounces at 2.8g/t gold.

 

 

 

St George Mining Reports Brazilian Niobium-REE MRE

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THE DRILL SERGEANT: St George Mining (ASX: SGQ) announced a maiden JORC 2012-compliant Mineral Resource Estimate (MRE for) the company’s 100 per cent-owned Araxá project in Brazil.

St George Mining’s Araxá project contains a substantive niobium and REE deposit located in what the company described as “the world’s premier niobium-producing region”.

Niobium
Total resource: 41.2 million tonnes at 0.68 per cent niobium

Rare Earths
Total resource: 40.6 million tonnes at 4.13 per cent total rare earth oxides (TREO)

St George explained that 100 per cent of the resource is constrained within the weathered profile at the Araxá project and 95.8 per cent of it is within 100m from surface.

The mineralisation is free digging, supporting potential for low-cost open-pit mining.

“The announcement of the initial JORC resource for the Araxá project firmly establishes St George as a significant player in the global niobium and rare earths sector,” St George Mining executive chairman John Prineas said in the company’s ASX announcement.

“Drilling at our project has intersected phenomenal grades exceeding 80,000ppm niobium oxide – or eight per cent Nb2O5 (niobium) – and around 330,000ppm or 33 per cent total rare earth oxide.

“It is no wonder that with these drill results the resource estimate now defined at the project also represents among the highest grade niobium and rare earth deposits in the world today.

“Notably, mineralisation remains open in all directions and at depth, presenting significant upside potential for resource expansion.

“The delivery of the JORC MRE marks a further significant de-risking milestone for the project by providing a strong foundation for permitting, mine planning and economic assessments and ensuring our Araxá project remains at the front of the next generation of potential niobium mining operations.”

 

Hammer Metals Identifies Gold and Copper Targets in North Queensland

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THE DRILL SERGEANT: Hammer Metals (ASX: HMX) has identified a strong EM conductor within the company’s 100 per cent-owned Mount Isa project in north-west Queensland.

Hammer Metals recently completed ground-based fixed loop electromagnetic (FLEM) survey that identified the EM conductor in the Revenue mine area.

Soil surveys carried out in 2024 also identified several copper-gold and gold-only targets within the Mount Isa project.

The new EM conductor is now known as the Lex Target, the area of which lies west of the Revenue trend of historical workings, where historical drilling intersected metre scale zones of percent level copper and gold.

Lex is located north-northeast of the Clarks historical workings which consists of a chalcopyrite-bearing calcite vein.

Hammer indicated that Lex is to be drilled in the company’s upcoming RC program along with Tourist Zone South target in April.

“Hammer’s team had a busy 2024 collecting and collating significant datasets that have since yielded a number of high-quality targets to pursue in the coming year,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.

“The region remains lightly explored with our recent soil sampling program across the Pilgrim Fault representing the first meaningful work to be conducted on this tenure despite its proximity to highly mineralised projects at Tick Hill and Kalman.

“The standout EM conductor at Lex is intriguing with the added mystery of the area being undercover.

“I’m looking forward to seeing the drill test of this EM anomaly in the near term.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Impact Minerals Identifies Major Drill Targets at the Caligula Prospect

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THE DRILL SERGEANT: Impact Minerals (AX: IPT) has identified a new nickel-copper-palladium-platinum-gold-in-soil anomaly within the eastern part of the Caligula prospect at the company’s 100 per cent-owned Arkun project located just outside Perth in Western Australia.

Impact Minerals had previously identified Caligula as a large copper-dominated soil geochemistry anomaly over approx. 5,000m north-south and at least 2,000m east-west based on broad-spaced sampling.

Associated metals include silver, tellurium, bismuth, and molybdenum, indicating potential porphyry-style copper mineralisation.

The company explained the new, better-defined anomaly it has identified is situated along the eastern margin of the original Caligula anomaly.

The new target was identified via ongoing analysis of soil geochemistry results, regional magnetic and gravity data, as well as Mobile Magnetotelluric (MMT) and Electromagnetic (EM) data from airborne surveys.

“Our focus over the past 12 months has been on the Pre-Feasibility Study for the Lake Hope High Purity Alumina project, which is nearing completion,” Impact Minerals managing director Dr. Mike Jones said in the company’s ASX announcement.

“In the background, we have been developing the Caligula target for a maiden drill program, which will be partially funded by the $180,000 EIS grant we received last year.

“We hope to deliver another discovery in the emerging mineral field of the South West Yilgarn.

“The strong correlation between elevated palladium, platinum, and gold-in-soil anomalies and key geophysical conductors identified in our previous ground-breaking MMT and EM surveys highlights the compelling targets we plan to drill soon after the closure of the current renounceable rights issue on March 21st.

“I encourage all shareholders to participate in the issue to fund the completion of the Lake Hope PFS and this exciting drill program at Arkun. ”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Legacy Minerals Updates Drake Epithermal Gold-Silver Resource

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THE DRILL SERGEANT: Legacy Minerals (ASX: LGM) reported an updated Mineral Resource Estimate (MRE) for the company’s Drake epithermal gold-silver project in New South Wales.

Legacy Minerals’ updated open pit MRE stands at 0.65 million ounces gold, 24.3 million ounces silver, 147,000 tonnes zinc, 33,000 tonnes lead, 20,000 tonnes copper.

The total Resource now stands at 34 million tonnes containing 0.8 million ounces of contained gold equivalent metal and 35 million ounces of contained silver equivalent metal.

Gold and silver are the dominant contained metals in the Resource (653koz Au, 24.3Moz Ag), with a healthy zinc content and lesser amounts of copper and lead.

“With gold and silver prices at all-time highs, it’s a fantastic time to release a substantially increased Mineral Resource Estimate at our Drake Project,” Legacy Minerals CEO and managing director Christopher Byrne said in the company’s ASX announcement.

“The updated MRE highlights the impressive mineral endowment of the large-scale system at the Drake Project.

“Importantly for Legacy Minerals, the updated Resource model highlights the Drake Project’s significant exploration upside potential, with strong opportunities for resource growth through clear strike and depth extensions and new greenfield discoveries.

“Drake is a low-sulphidation epithermal gold-silver system.

“These systems are attractive deposits because they are often high-grade, high-margin, long-life underground mining operations.

“The fact that we are looking at a 34Mt deposit at surface, with no underground resource in the current mineral resource estimate, gives a glimpse of the system’s untested potential at depth.

“Achieving such significant MRE growth in such a short time highlights the quality of the Project and the team’s ability to leverage historical datasets and capitalise on the Project’s significant previous exploration expenditure.

“In addition to significant investment in historical exploration, the Drake Project also contains a substantial amount of critical infrastructure, including a tailings dam, grid easements, a 750ML water source, a site office, accommodation, a core shed, and core processing facilities within the exploration licence.

“The next round of exploration at Drake will aim to deliver substantial extensions to existing mineralised areas and new standalone discoveries that will be targeted upon completing the current geophysical and geochemical work programs.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Lincoln Minerals Re-assaying Historic Drill Core to Unlock Copper-Lead-Zinc Potential

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THE DRILL SERGEANT: Lincoln Minerals (ASX: LML) is conducting a detailed assay program targeting base metal intervals in previously unassayed drill core at the company’s Minbrie copper and base metals project near Cowell, South Australia.

Lincoln Minerals took the initiative to re-assay drill core from an historic Centrex exploration program following recent discoveries of multiple sulphide-rich zones it considers to have enhanced the project’s scale potential.

Centrex’s 2011 exploration focused solely on magnetite, leaving base metal potential largely untested.

Lincoln is targeting untested base metal mineralisation from selection of historic drill core previously unassayed for copper, lead, zinc, silver and other payable metals at Minbrie.

By leveraging existing drill core, Lincoln is implementing a rapid, cost-effective exploration program.

“We have commenced assaying historic core samples from Minbrie for copper, lead, zinc, and silver,” Lincoln Minerals CEO Jonathon Trewartha said in the company’s ASX announcement.

“Over the coming months, I feel this site represents the most exciting exploration opportunity in South Australia.

“Our goal is not only to provide evidence of a major base metal discovery but also allow Lincoln to develop and undertake an exploration program.

“Success here will demonstrate that the southern Gawler Craton is a highly desirable address, complementing the northern portion, which hosts Olympic Dam, Prominent Hill and Carrapateena.

“Our initial discovery at Minbrie, highlighted by copper, lead, zinc and silver intercepted in discovery hole BUDD192, underscored the untapped potential of this project.

“With an extensive archive of historic drill core, we can systematically assess Minbrie’s base metals prospectivity without the need for immediate redrilling.

“Centrex’s past focus on magnetite exploration meant base metals were overlooked.

“We anticipate completing the assaying process within the next 8 to 10 weeks and will provide updates as results emerge.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Adelong Gold Executes Advancement Deal for Adelong Gold Project

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THE BOURSE WHISPERER: Adelong Gold (ASX: ADG) has executed a binding agreement with Great Divide Mining (ASX: GDM) over the company’s Adelong gold project in New South Wales.

Adelong Gold explained the agreement would result in advancement of the Adelong gold project with GDM assuming responsibility for progressing the project towards production, aiming for first gold production within 12 months.

Should this milestone not be met, Adelong Gold retains the right to revert to 100 per cent ownership of the project.

Key terms of the agreement include:

• Investment Structure – GDM to invest $300,000 for an initial 15 per cent stake in Challenger Gold Mines (CGM) following due diligence.

• Operational Control – GDM will act as the project operator, managing site activities and overseeing plant refurbishment.

• Milestone-Based Ownership – Upon achieving first gold pour, GDM’s interest will increase to 51 per cent, with Adelong Gold maintaining a 49 per cent strategic interest.

• Free Carry for Adelong Gold – No funding obligations for Adelong Gold until gold production commences.

• Exploration Commitment – Additional exploration and feasibility studies to expand gold resources within the project area.

“We are pleased to have secured this agreement with GDM, which provides a clear pathway towards production at Adelong,” Adelong Gold managing director Ian Holland said in the company’s ASX announcement.

“The agreement aligns with our strategy to unlock the value of the project while ensuring a pathway to retain control should key milestones not be met.

“We look forward to working closely with GDM to advance the project and deliver value to our shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE