Venture Minerals Scores Tasmanian Government Co-Funding to Drill Mt Lindsay EM Targets

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has secured co-funding from the Tasmanian Government to drill test priority EM targets at the company’s Mt Lindsay tin project in 2020.

Venture Minerals enjoyed a successful outcome of submissions it made to the Tasmanian State Government, receiving for co-funding of up to $202,000 for exploration drilling to be carried out at three priority targets the company generated via a recently completed Major EM Survey over the Mount Lindsay project.

The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell-style high-grade tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets.

The Mount Lindsay project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset, which Venture Minerals believes will only be further enhanced by the delineation of several high-priority drill targets of the same style of mineralisation through the recently completed major EM Survey.

Venture claims Mount Lindsay as one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten.

Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000 tonnes per annum by 2030 (world tin consumption was 363,500t in 2018).

Venture explained the Renison-style target is a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine.

“The successful submission for co-funded drilling (in 2020) of some of our priority drill targets generated by the recently completely Major EM Survey at Mount Lindsay validates the strength of all the numerous priority targets at Mount Lindsay that include Renison-style tin, Mount Lindsay-style tin-tungsten and nickel sulphide targets,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“With the increased exploration potential at Mount Lindsay combined with its current status as one of the largest undeveloped tin assets in the world, clearly Mount Lindsay is a leading Australian Critical Minerals Project.

“Tin and tungsten are globally classified as critical minerals.

“Recently the Australian Government said that global demand for Australian resources has broadened in recent years to include minerals used in a range of emerging high tech applications across a variety of sectors such as renewable energy, aerospace, defence, automotive (particularly electric vehicles), telecommunications and agri-tech.

“Known as critical minerals, this group of minerals is considered essential for the economic and industrial development of major and emerging economies.”





Saturn Metals Extends Apollo Hill Mineralisation

THE DRILL SERGEANT: Saturn Metals (ASX: STN) released results from a reverse circulation (RC) drilling program recently completed at the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian goldfields.

Saturn Metals completed the Apollo Hill program as part of its efforts to rapidly expand the newly discovered high-grade hanging wall zones and to grow the project’s recently upgraded 781,000 ounce Mineral Resource.

The company claimed the drilling successfully extended mineralisation in multiple directions.

Results include:

5 metres at 4.7 grams per tonne gold from 126m;

6m at 4.08g/t gold from 108m within 55m at 0.62g/t gold from 92m;

14m at 1.4g/t gold from 133m;

14m at 1.21g/t gold from 12m within 28m at 0.9g/t gold;

8m at 1.7g/t gold from 33m within 21m at 0.72g/t gold from 33m;

6m at 2.2g/t gold from 129m within 19m at 0.91g/t gold from 116m;

“Results continue to show the potential for significant resource growth immediately adjacent to Apollo Hill in the higher-grade hanging-wall zones, while a widening mineralised corridor may provide multiple opportunities for additional discovery,” Saturn Metals managing director Ian Bamborough said in the company’s announcement to the Australian Securities Exchange.

“Improving mineralisation in other areas such as the Ra area is a bonus.

“Importantly, we look forward to results from our recently completed deeper step out holes which have been drilled to test for mineralisation down dip of both the northern and southern higher-grade hanging-wall zones.

“A second 10,000 metre extensional RC phase is planned to commence in early January 2020.”





Neometals Drills Mt Edwards Nickel Results

THE DRILL SERGEANT: Neometals (ASX: NMT) has been encouraged by assay results from reverse circulation (RC) drilling at the Mt Edwards nickel project near Kalgoorlie in Western Australia.

Neometals completed drilling, sampling and down-hole electromagnetic (DHEM) surveys conducted across the Widgie 3 and Gillett deposits and the Widgie 3 North, Rhona and Widgie 3 South prospects.

These deposits and prospects, including Widgie Townsite, are collectively known as the Widgie South Trend and are located on Mining Lease M15/94 south of the community of Widgiemooltha.

In addition, further drilling was carried out at the Lake Eaton prospect on Exploration Licence E15/989.

Drill assay results include:

16 metres at 1.45 per cent nickel, including 2m at 4.79 per cent and 5m at 1.81 per cent nickel;
21m at 1.05 per cent nickel, including 4m at 2.42 per cent nickel; and
7m at 1.37 per cent nickel, including 3m at 2.39 per cent nickel.

“Neometals is progressively increasing the quantity and quality of its Mt Edwards Nickel Mineral Resources and improving the geological understanding with modern geophysics,” Neometals said in its ASX announcement.

“The company is very pleased with the outcomes of this exploration program, which represents the first drilling for nickel at the Widgie South Trend since April 2008.

“The four kilometres long Widgie South Trend zone, with its three Mineral Resources, contains an estimated 67,000 tonnes of nickel, in a pro-mining jurisdiction located near major road, rail and energy infrastructure in a world class nickel camp.”

In addition to the positive assay results, Neometals indicated it has conducted also DHEM surveys on all 13 drill holes completed at the Widgie South Trend which show several conductors considered to be strong targets for nickel sulphide mineralisation.

Further DHEM surveys are currently being conducted on historic drill holes across the Widgie South Trend to generate further drill targets.





Southern Gold Confirms Major Epithermal System at Beopseongpo

THE DRILL SERGEANT: Southern Gold (ASX: SAU) received results from the first pass scout drilling program undertaken at the Lotus North and Hand of Faith prospects at the company’s Beopseongpo project in South Korea.

Southern Gold said the drilling had confirmed major epithermal system at Beopseongpo with best results achieved at the Hand of Faith prospect, including:

1 metre at 1.48 grams per tonne gold from 9.4m in hole (True width);

0.96m at 5.7g/t gold from 36.45m in hole (Est. 0.67m True width); and

1.05m at 1.17g/t gold from 46.68m in hole (True width).

The company said it was encouraged by these results as they come from a very small strike section of veining (<100m strike extent of one vein system) drilled to date, which equates to less than five percent of the total outcrop, subcrop and float train-inferred strike of vein systems mapped at Beopseongpo project area.

Southern Gold noted that the quartz vein textures intersected were typical of the upper-most levels of Low Sulfidation vein systems, less than 50 metres below the palaeowater table, which it has interpreted to mean the main potential for high-grade precious metal mineralisation is preserved and interpreted to be between one hundred and five hundred metres below the paleo-water table, which has yet to be drilled.

Now that the veins have been intersected, Southern Gold suggests they can easily be targeted down dip in the next program at Hand of Faith.

“We are pleased to have successfully executed the maiden drill program at Beopseongpo and confirm the large vein widths at Hand of Faith,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“The results and vein textures are typical of high level low-sulfidation systems and we intend to target these at depth where high-grade mineralisation is much more likely in a second phase program next year.

“Beopseongpo has all the right technical characteristics of a large-scale epithermal system and will require several drill programs to fully test the multiple targets in the extensively veined area.”





Cassini Resources to Commence Drilling at Yarawindah Brook

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) is set to commence a program of diamond drilling at the company’s 80 per cent-owned Yarawindah Brook project located near New Norcia in Western Australia.

Cassini Resources declared the project as being prospective for nickel, copper, cobalt and PGE’s, adding that the drilling program will target two separate prospect areas, the XC05 conductor and the AN01-AN02 conductors.

Approximately 1,000 metres of diamond drilling is expected to conclude in January after a short break for Christmas.

The company completed an airborne electromagnetic survey (AEM) over the project in early 2018 that identified numerous conductors it considered worthy of further investigation.

A surface fixed loop electromagnetic (FLEM) survey was also completed over several of the higher priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling.

The FLEM reinforced the XC05 and XC06 anomalies as priority targets, however, only the XC05 conductor will be tested in this program due to access difficulties at XC06.

XC05 has been modelled as three discontinuous conductors over a strike length of 300m, with a maximum conductance of 2400S. This will be the first-ever drill testing in this area of the project, which is a distinctly different part of the belt which hosts the AN01 and AN02 conductors.

The AN01 and AN02 conductors sit at the southern end of a large ultramafic belt that hosts a small lateritic platinum and palladium resource.

Cassini considers the platinum and palladium enrichment in the regolith as ‘path-finders’ for potential massive nickel – copper – cobalt sulphides, which have been proven to exist by historic exploration drilling carried out in 2007 that returned several intercepts of sulphide mineralisation.

No follow-up drilling was conducted and now Cassini has re-modelled surface and downhole electromagnetic (DHEM) data and identified multiple offhole conductors which it hopes may represent extensions to recognised mineralisation.

“This is an exciting time for our company and we are not slowing down for the holiday period,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“This is our maiden drill program at Yarawindah Brook, supported by some excellent work done by our exploration team.

“There is a high level of anticipation amongst our team and we hope this program delivers a great start to the New Year.”






Breaker Resources Launches Bombora Drill Campaign

THE DRILL SERGEANT: Breaker Resources (ASX: BRB) has commenced a major reverse circulation (RC) and diamond drilling program designed to grow the one million-ounce Bombora Resource within the company’s Lake Roe gold project, east of Kalgoorlie in Western Australia.

Breaker Resources indicated the main focus of the drilling will be on extensions and discovery outside the Resource envelope, both along strike and at depth.

Drilling is expected to continue throughout 2020, using at least three drill rigs.

Diamond drilling at Bombora South has already commenced to extend the 3.2km-long gold system to the south.

The initial objective of the drilling is to discover and extend the main mineralised structures (faults) controlling the gold mineralisation observed at Bombora, prior to follow-up resource drilling.

RC and diamond drilling to be carried out at Claypan will test a 2.5km by 500m gold anomaly identified by recent aircore drilling 1.3km southeast of Bombora.

Breaker explained the Claypan anomaly is partially coincident with a newly identified, Bombora Sill-like quartz dolerite and has a geochemical signature comparable with that associated with the Bombora and Crescent primary discoveries.

As with Bombora South, the initial objective is discovery and to pin down the main structures controlling the mineralisation to guide further drilling.

The diamond and RC drill rigs will continue through to just before Christmas and then resume early in the New Year.

A third diamond drill rig will start early in the New Year to commence targeting the down-plunge extensions of the Tura, Daisy and Mindil lodes below the current Resource where reconaissance drilling has previously identified high-grade gold mineralisation.

The initial hole in this area will be a deep (~1,200m) diamond drill hole at the southern end of the Bombora deposit and will be conducted as part of a Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme (EIS) co-funded drilling program.

“The drilling campaign was designed to accelerate the unlocking of the immense exploration potential at Lake Roe,” Breaker Resources executive chairman Tom Sanders said in the company’s announcement to the Australian Securities Exchange.

“Our team has done a great job unravelling the geology and believes there is huge scope to grow the one million ounce Resource based on a good understanding of the geology after 225,000 metres of drilling and detailed modelling.

“We are now applying this understanding outside the 3.2 kilometre Resource area to the rest of the 8.5 kilometre mineralisation system.

“The targets are a mix of prospects, some of which have already yielded strong reconnaissance intersections but which are poorly understood and inadequately drilled due to the early focus on Bombora (Bombora South, Bombora Deeps, Crescent).

“Other targets have compelling geochemistry with significant aircore drilling intersections that elevate the probability of fresh discovery (Claypan, Claypan North).

“I think this will translate into cost-effective extensional ounces and further discovery but it is now time to let the drill bit do the talking.

“The business case for our strategy is sound and simple.

“Our discovery cost at Bombora is approximately $18 per ounce…and the market is valuing resource ounces like ours at around $65 per ounce, rising to over $250 per ounce in many cases as projects develop.

“We believe drilling to expand the resource base is likely to add significant value and expand our development options.”





Ausgold Commences RC Drilling at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) is spending its recently-raised $2.4 million on an exploration drilling program at the company’s 100 per cent-owned Katanning gold project in Western Australia.

Ausgold has kicked off the program with the drilling of 20 Reverse Circulation (RC) holes for 2,500m, which it expects to be completed during December.

The new drilling within the Central Zone will target extensions to recently identified high-grade gold mineralisation intercepted at the Jinkas South and Jackson areas.

High-grade gold mineralisation was intersected at Jinkas South by previous drilling beyond the limits of the current Resource.

The Jackson area is located at the north western portion of the Central Zone and has also ceded high-grade intercepts in earlier campaigns.

“Following the recent announcement of the receipt of binding commitments for $2.4 million to institutional and sophisticated investors, Ausgold is immediately commencing an RC drill program which targets high-grade mineralisation within the Central Zone,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This round of drilling will test new geological concepts which aim to extend high-grade mineralisation with the potential to add high-grade ounces to the current the 1.2 million ounce gold Resource at Katanning.

“The results of this initial drill program will be used to prioritise targets for a larger drill program planned in 2020.

“In addition to these near Resource targets, Ausgold is targeting mineralisation in nearby identified areas such as the Burong and Cleggs Bend prospects, which are located within five kilometres of the main Resource.

“This suggests there is potential for significant further gold Resources to be discovered.

“We’re looking forward to updating the market in the coming weeks with the results.”





Auroch Minerals Historic Review Highlights Nickel Potential

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) completed a review of historic data that it claims has confirmed thick high-grade massive nickel sulphide mineralisation at the company’s recently-acquired Leinster project in Western Australia.

Auroch Minerals said the review involved recalculation of important intersections for all historic drill-holes undertaken at the Horn prospect, several of which demonstrated thick zones of high-grade nickel sulphide mineralisation, including:

14.66 metres at 2.19 per cent nickel, 0.48 per cent copper and 0.12 per cent cobalt from 132.6m down-hole;

7m at 2.58 per cent nickel, 0.63 per cent copper and 0.14 per cent cobalt from 158.6m down-hole; and

10.8m at 2.21 per cent nickel, 0.53 per cent copper and 0.12 per cent cobalt from 143.97m down-hole.

Reviewing the modelled mineralisation in long-section at the Horn prospect demonstrated that thick high-grade nickel mineralisation occurs at relatively-shallow depths, and remains open along strike and down plunge.

Auroch had reprocessing of the high-resolution aeromagnetic data at the Leinster project completed by Southern Geoscience Consultants (SGC) that showed a strong correlation between the known nickel sulphide mineralisation and magnetic highs.

The company now has interpretation and modelling of the reprocessed data underway.

SGC has also commenced reprocessing and modelling of the large amount of down-hole electromagnetic (DHEM) data and surface moving-loop EM (MLEM) data at both the Horn and Valdez target areas of the Leinster project, in order to confirm the conductivity and location of the modelled EM plates that will be the focus of an RC drilling program to be carried out early in 2020.

“Our review of the large historical geological database from the Leinster project has demonstrated thick zones of massive nickel sulphide mineralisation within prospective ultramafic lithologies,” Auroch Minerals managing director Aidan Platel said in the company’s announcement to the Australian Securities Exchange.

“Reprocessing the detailed aeromagnetic data has provided insight into the known nickel sulphide mineralisation and hence confirmed the importance of aeromagnetic data when targeting komatiitic nickel sulphide mineralisation.

“We look forward to receiving the reprocessed EM data from SGC which will form the basis of our targeting for the RC drilling program planned for early 2020.

“The known mineralisation at the Horn provides an excellent base to build on, whilst the strong EM conductor in prospective lithologies at Valdez provides an excellent target for a potential new nickel sulphide discovery in close proximity to existing processing infrastructure.”





Marenica Energy Widens Koppies 2 Palaeochannel

THE DRILL SERGEANT: Marenica Energy (ASX: MEY) has completed a Phase 3 reverse circulation (RC) drilling program to extend the width of the palaeochannel on the company’s Koppies tenement in Namibia, Africa.

Marenica Energy reported the recent drilling had identified the Koppies 2 palaeochannel to be up to 1.2 kilometres wide, extending to now encompass the full width of the tenement, being approximately 3.6km.

The company explained the importance of the resulting wider channel width, saying that the wider the mineralised palaeochannel the greater the potential for increased numbers contained uranium pounds in any given length.

The palaeochannel was identified through the drill holes intersecting calcrete hosted mineralisation, which is the rock type within palaeochannels Marenica is targeting.

“Identifying that the Koppies 2 palaeochannel has a width of approximately 1.2 kilometres is fantastic news, especially with a length of at least 3.6 kilometres,” Marenica Energy managing director Murray Hill said in the company’s announcement to the Australian Securities Exchange.

“The substantial width is expected to greatly increase the contained uranium pounds per unit length of palaeochannel, which is extremely positive for the potential economics of the Koppies project.

“The Koppies story continues to develop, with the extensive Koppies 2 palaeochannel, excellent grades achieved from Phase 2 drilling, and with only approximately 10 per cent of the Koppies tenement explored, let alone the remaining 2,494 square kilometres of tenements held by the Company in the Namib area.”

Mrenica followed its Phase 2 drill program, which had identified a mineralised palaeochannel at Koppies 2, with three HLEM survey lines across the Koppies 2 palaeochannel that were designed to determine the potential width of the palaeochannel ahead of the Phase 3 drill program.

The HLEM results indicated a more extensive palaeochannel than expected, which resulted in the drill program being expanded, extending further north and south than initially planned.

Following from the identification of a wide palaeochannel at Koppies 2 and confirmation that HLEM has been successful in locating palaeochannels at Koppies, the company indicated it would continue with the exploration program.

Receipt of the assay results from the Phase 3 drill program is expected in January 2020.




Gold Road Estimates New Wholly-Owned Yamarna Gold Resources

THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) reported the first 100 per cent company‐owned resource addition since it entered the Gruyere Joint Venture.

The Mineral Resource of 3.5 million tonnes at 2.62 grams per tonne gold for 297,600 ounces was estimated at the Gilmour and Renegade deposits, both 100 per cent-owned by Gold Road.

The Gilmour Maiden Mineral Resource totals 2.6 million tonnes at 3.09g/t gold for 258,400 ounces, with 0.8 million tonnes at 5.2g/t gold for 120,000 ounces, or 46 per cent of contained ounces, classified as an Indicated Resource.

This makes Gilmour the third largest and second highest grade deposit so far discovered on the Yamarna Belt.

The Gilmour Maiden Mineral Resource is located 55 kilometres, by road, south of the Gruyere Mine, which means the open pit and underground Mineral Resources could be developed by Gold Road and processed at Gruyere via toll treatment provisions under the Gruyere JV agreement.

The Gruyere development option provides a pathway to monetise the discovery and realise value from Gold Road’s exploration program.

The Renegade deposit, previously reported as Khan North, has been re‐estimated as an Inferred Mineral Resource of 0.9 million tonnes at 1.3g/t gold for 39,200 ounces.

The new resource estimate follows detailed geological interpretation and optimisation for open pit extraction, applying appropriate modifying factors and a gold price assumption of $1,850 per ounce.

Renegade is located just 35 kilometres by road from the Gruyere Mill, and is adjacent to the Gruyere Main Access Road.

Like Gilmour, Renegade could also potentially add value to Gold Road through toll treatment in accordance with the terms of the Gruyere JV agreement.

“The Maiden Mineral Resource for Gilmour represents the first gold deposit identified at Yamarna outside of the original discoveries on the Golden Highway, and our Gruyere discovery which is now being mined in Joint Venture with Gold Fields,” Gold Road executive director ‐ exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“The significance in being the third largest, and second highest grade deposit so far discovered at Yamarna is considerable.

“The relatively high‐grade demonstrates a diverse endowment consistent with our belief in the Belt having potential to host multiple deposits varying in style, size and grade as seen in other major Greenstone Belts in Western Australia ‐ the main difference at Yamarna is it remains significantly underexplored.

“We are now applying the improved understanding from our Gilmour exploration programme to assist our ongoing targeting of greater than one million ounce deposits on the considerable Yamarna tenement holding.”