Alicanto Minerals Reports Maiden Arakaka Gold Resource

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) released a maiden JORC 2012-compliant Inferred Resource for the company’s 100 per cent-owned Arakaka gold project in Northwest Guyana, South America.

Alicanto Minerals’ declared the Inferred Resource of 500,000 ounces at 1.8 grams per tonne gold based on a review of data at Arakaka collected by Alicanto in conjunction with that provided by Barrick Gold Corp. (ASX 19 June 2018) and NordGold, (ASX 12 May 2020).

The Resource was calculated by Perth-based Cube Consulting.

The Mineral Resource Estimate (MRE) for the Arakaka gold project is taken from two separate domains, the Purple Heart and Gomes deposits located approximately six kilometres from one another.

The Purple Heart resource lies within a stacked thrust system developed to the margin of multiple porphyry intrusions of variable composition hosted within metavolcanics and metasediments where mineralisation has been observed to extend to approximately 150 metres vertical depth.

At Gomes the current resource is located within approximately 500m of strike along a West South West dipping regional scale shear, the Temberlin shear zone where mineralisation has been observed to extend approximately 100m vertical depth.

“This Resource is shallow, the mineralisation remains open in all directions and we already have numerous intersections outside the resource which will form part of the next estimate,” Alicanto Minerals managing director Peter George said in the company’s ASX announcement.

“We also have multiple walk-up targets with multi-million-ounce bulk tonnage potential that remain to be drilled.”










Great Boulder Resources Extends Blue Poles Mineralisation

THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) reported results from the second phase of aircore (AC) drilling carried out on the Blue Poles discovery, within the company’s Whiteheads project north of Kalgoorlie.

Great Boulder Resources had designed this phase of drilling to define the limits of mineralisation at Blue Poles prior to RC drilling, which is scheduled to be completed this month.

Blue Poles has now been closed off to the north but remains open to the south with total strike length of the prospect now in excess of one kilometre.

Great Boulder claimed a further VMS-style lead-zinc discovery from other drilling conducted 500 metres to the west of Blue Poles to provide additional geological information.

This drilling intersected lead-zinc sulphide minerals, returning assays of:

1 metre at 13 grams per tonne silver, 1.04 per cent lead and 1.01 per cent zinc from 92m; and

2m at 7.35g/t silver, 0.63 per cent lead and 0.8 per cent zinc from 97m to EOH.

The company declared this to be a completely new discovery in an area with no surface geochemical signature, signalling its intent to plan further work in order to assess the nature and scale of base metal mineralisation.

“These new results add further weight to the Blue Poles discovery” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.

“We are very keen to get some deeper drilling into it with the RC rig shortly.

“The base metal discovery out to the west is completely unexpected, so we’ll also be working on that to see how significant it might be.

“There is no geophysics or historic drilling in the area, so it’s a true greenfields discovery.

“At this stage we are still receiving assays from the programs completed at Side Well in September. We’ll have further updates on the Side Well air-core and auger programs in the coming weeks.”








De Grey Mining Extends Crow and Aquila Mineralisation

THE DRILL SERGEANT: De Grey Mining (ASX: DEG) reported on drilling recently carried out at the company’s Hemi gold discovery, located south of Port Hedland in Western Australia.

De Grey Mining has been drilling on the Aquila and Crow zones that are located adjacent and to the north of the large Brolga intrusion at Hemi.

The company is continuing with extensional step out drilling in these two zones on a nominal 80m by 80m spacing to the northwest while infill resource definition drilling to a 40m by 80m spacing is continuing in the central and eastern portions of Crow.

Step out and infill drilling at Hemi is on-going and the latest results at Aquila and Crow continue to firm up areas of high-grade gold mineralisation (+2g/t) within a much larger and broader gold system.

High-grade gold was intersected at the eastern edge of Crow with mineralisation remaining open to the east.

Results on section 30520E include:

17 metres at 12.9 grams per tonne gold from 91m, including 7m at 29.4g/t gold from 94m;

5m at 7.4g/t gold from 139m, including 3m at 11.6g/t gold from 141m; and

15m at 1.8g/t gold from 79m.

Depth and strike extensions were encountered at the southwestern portion of Crow where mineralisation remains open along strike and up and down dip.

Results on section 30080E include:

24.6m at 1.4g/t gold from 345m.

New results from Aquila extended mineralisation at depth and to the southwest, again mineralisation remains open.

Results include:

Section 30080E

24.6m at 2.7g/t gold from 244.36m, including 5m at 5g/t gold from 252m; and

Section 29920E

35.6m at 1g/t gold from 419m.

“The new results at Crow continue to demonstrate potential for higher grade lodes within the large, broad mineralised zones,” De Grey Mining managing director Glenn Jardine said in the company’s ASX announcement.

“The company recently announced extensions to the northwest of Crow.

“Potential also remains for extensions to the northeast and southwest.

“Wide spaced 80 by 80 metres extensional RC drilling continues in the northwest of Crow, with assay results awaited.

“Aircore drilling further to the west of the Crow intrusive has identified areas for follow up RC drilling.

“Drilling will continue at Crow to infill and expand the mineralised footprint.

“Drilling at the western end of Aquila continues and has extended mineralisation at depth and to the west toward Falcon.

“A broad mineralised zone is present at least 400 metres below surface that includes narrower high-grade intervals.

“Total metres drilled at Hemi now exceed 200,000 metres since the discovery in December 2019.

“Seven rigs are currently operating around Hemi in support of completion of a maiden resource by the middle of 2021.”








Blackstone Minerals Drilling at Ban Phuc

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has kicked off a new round of drilling at the company’s Ta Khoa nickel-copper-PGE project in Vietnam.

Blackstone Minerals is drilling at the Ban Khoa nickel-copper-PGE prospect that sits around 1.5 kilometres from the project’s main Ban Phuc deposit.

The company considers the Ban Khoa prospect to be analogous to the Ban Phuc disseminated sulphide (DSS) orebody where the company made the King Cobra discovery, at which it has previously announced a maiden Indicated Mineral Resource of 44.3 million tonnes at 0.52 per cent nickel for 229,000 tonnes nickel and Inferred Mineral Resource of 14.3 million tonnes at 0.35 per cent nickel for 50,000 tonnes nickel.

“We are very excited to commence exploration at Ban Khoa,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Based on geological similarities and historical results, we believe it has the potential to deliver similar results to Ban Phuc.

“The geology at Ban Khoa is relatively well-understood given the historic drillings and we have refined our targets using modern geophysics.

“Exploration success here could add meaningful inventory, extend mine life and improve the economics demonstrated in our recently completed scoping study.

“We continue to systematically test our 25 MSV prospects and with our in-house geophysics crew and Blackstone-owned drill rigs, we can cost effectively explore this globally significant nickel sulphide district using modern geophysical techniques.

“We see potential to increase annual nickel production from the Ta Khoa nickel-copper-PGE project through targeting high-grade MSV to complement the base load nickel sulphide feed from the Ban Phuc DSS and King Cobra discovery zone.”









Azure Minerals Claims New Andover Nickel-Copper Sulphide Discovery

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) claimed discovery of a new nickel-copper sulphide zone at the company’s Andover nickel-copper project (60% Azure / 40% Creasy Group) in Western Australia.

Azure Minerals made the claim after its latest diamond drillhole, ANDD0004, intersected a 38m-wide zone containing substantial intervals of nickel-copper sulphides, including zones of massive and semi-massive sulphides, which the company suspects to be the likely source of a newly defined and previously untested, strongly conductive and laterally extensive, electromagnetic (EM) conductor.

ANDD0004 was designed to test a strong and laterally extensive conductor (VC7) that had been identified by a recent surface fixed loop electromagnetic (FLTEM) survey.

The hole intersected a 38.1m-wide interval containing multiple zones of nickel-copper sulphide mineralisation from a downhole depth of 336.1m, including:

6.1m from 347.5m of blebby to matrix nickel-copper sulphides;
4.05m from 354.8m of massive nickel-copper sulphides; and
4.1m from 359.2m of heavily disseminated grading to matrix and massive nickel-copper sulphides.

The drilling has demonstrated the VC7 conductor extends for approximately 1,050m east-west and at least 150m to 200m vertically and remains unconstrained at depth, down-dip to the north.

“Given Azure’s recent success in our first three holes drilled at Andover (announced in November 2020) and the distribution of outcropping nickel and copper-rich gossans, we considered that the area to the west of our initial drilling was highly prospective,” Azure Minerals managing director Tony Rovira said in the company’s ASX announcement.

“This concept was supported when new surface FLTEM surveys identified a highly conductive and laterally very extensive east-west trending conductor that was interpreted to represent a substantial body of sulphide mineralisation.

“Geophysical modelling indicates this conductor lies beneath and is spatially separate from the anomalies targeted by our first three drill holes.

“Diamond drill hole ANDD0004 targeted the eastern end of the new conductor about 150 metres to 200 metres below the mineralisation intersected in the first three holes.

“The hole successfully intersected substantial quantities of nickel and copper sulphide mineralisation at almost the exact depth the modelling predicted the EM conductor plate to be located.

“The key point to take away from our drilling successes to date, is that wherever we have targeted an EM conductor at Andover, we have intersected nickel-copper sulphide mineralisation.

“The strongly mineralised intersection in ANDD0004 leads us to believe that if the one-kilometre-long conductor plate is similarly mineralised throughout, there is excellent potential here for a major new nickel-copper deposit.”

Azure already has hole ANDD0005 underway to test the up-dip extension with a planned intersection point approximately 50m above the sulphide zone intersected in ANDD0004.

A subsequent hole, ANDD0006, will test the down-dip extent approximately 50m below ANDD0004.

Downhole EM (DHTEM) surveying is being undertaken in each of the drillholes as they are completed, which Azure expects to provide greater definition on the vertical / down-dip extent of the VC7 conductor plate.

Based on FLTEM surveying completed to date, the company has identified 12 separate conductor anomalies within the Andover project area.

Drilling to test other high-priority conductors is being planned and, subject to drill rig availability, likely to commence in the first quarter of 2021.








Venture Minerals Hits Further Copper and Zinc Rich Sulphides at Golden Grove North

THE DRILL SERGEANT: Venture Minerals (ASX: VMS) has continued its recent drilling success at the Orcus target within the company’s Golden Grove North project in Western Australia.

Venture Minerals announced the second and third holes drilled into the Orcus target had both encountered disseminated to semi-massive sulphides with copper and zinc.

Venture’s second drill hole (ORRC002) at Orcus intersected 23 metres of disseminated to semi-massive sulphides with copper and zinc, 50 metres down-dip of the firsthole ORRC001 (33 metres of disseminated to semi-massive sulphides with copper and zinc).

Venture’s third drill hole (ORRC003) at Orcus intersected 69m of disseminated and semi-massive sulphides with copper and zinc, 50m down-dip of ORRC002 and over 120m down-dip of the historic drill intersection from WRC054.

The company carried out a visual inspection and preliminary hand-held XRF analyses on the RC chips in sulphide rich zones of ORRC002 and ORRC003, which it claimed verified the presence of copper and zinc (chalcopyrite and sphalerite) within the pyrite dominated sulphides.

Samples from the first three holes at Orcus have been submitted to the laboratory for assay to confirm the observed mineralisation.

“The second and third drill holes at Orcus have confirmed the success of the first drill hole with further intersections of sulphides containing copper and zinc,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“This now means we have already identified 120 metres of VMS style sulphide mineralisation open at depth on the first line of drilling at Orcus, which bodes well for the next line of drilling 300 metres to the south across the strongest part of the EM anomaly, and the highest-grade copper in soil results recorded at the prospect.”









Musgrave Minerals Updates Break of Day Mineral Resource

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) released a Resource update at the company’s 100 per cent-owned Break of Day gold deposit on the Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals’ Mineral Resource (Indicated and Inferred) update at Break of Day has estimated the Starlight and White Light lodes to host: 360,000 tonnes at 13.9 grams per tonne gold for 161,000 ounces of contained gold.

The total Indicated and Inferred Mineral Resources for the Break of Day deposit now stand at 797,000 tonnes at 10.2g/t gold for 262,000 ounces of contained gold.

When combined with Musgrave’s nearby Lena Resource located only 130m to the west, the two deposits host a combined 5.1 million tonnes at 3.6g/t gold for 587,000 ounces of contained gold, of which a large component will be amenable to open pit mining methods.

“This is a significant milestone for the company with ongoing focus on grade and margin,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“It confirms Break of Day as a standout, high-grade, near-surface gold deposit that will largely be amenable to open pit mining.

“The deposit sits on a granted Mining Lease in a region with excellent infrastructure within a favourable mining jurisdiction.

“High-grade top cuts were used in the resource impacting the bonanza grades near surface at Starlight.

“Undeveloped, near-surface, high-grade gold resources, close to existing infrastructure, are very rare in Australia.

“The growing resource base on our 100 per cent-owned Cue project, which includes Break of Day and Lena is exceptional and carries significant value.

“We are continuing to make new discoveries and grow the 100 per cent-owned gold resources at Cue.

“This latest update increases the contained ounces in the Break of Day Resource and improves the overall grade of the deposit while also delivering a major uplift in the geological confidence by refining the geological model and growing the Indicated Resource category.

“With drilling continuing to intersect high-grade gold on new regional targets, we are looking forward to further exciting results as the programs progress.”









Firefly Resources Encounters Thick Shallow Gold Intercepts at Melville Gold Deposit

THE DRILL SERGEANT: Firefly Resources (ASX: FFR) reported the completion of the second phase of a planned maiden drill program at the company’s 100 per cent-owned Yalgoo gold project in Western Australia.

Firefly Resources declared the results received from the first seven RC drill-holes as “outstanding”, adding that they had confirmed the presence of thick, shallow zones of mineralisation at the Melville gold deposit.

Assays include:

24 metres at 3.5 grams per tonne gold, including 3m at 11.77g/t gold and 4m at 7.71g/t gold, 2m at 2.97g/t gold and 5m at 3.39g/t gold, including 2m at 6.5g/t gold;

30m at 1.35g/t gold, including 10m at 2.62g/t gold from 2m;

50m at 1.1g/t gold, including 20m at 2.02g/t gold;

31m at 1.00g/t gold, including 3m 5.82g/t gold;

15m at 0.56g/t gold and 16m at 0.76g/t gold, including 1m at 3.05g/t gold; and

10m at 1.58g/t gold from surface and ends in mineralisation.

“The Yalgoo gold project is just starting to show its real potential,” Firefly Resources managing director Simon Lawson said in the company’s announcement to the Australian Securities Exchange.

“Our drilling results so far show the presence of a consistent, wide mineralised zone along and across the Melville gold deposit.

“Local and regional exploration upside and growth potential is already also starting to become evident through the newly discovered high-grade zone below and to the east of Melville, as well as the correlation of regional architecture to historical high-grade intercepts, demonstrating that Yalgoo has real kilometre-scale potential.

“The Firefly team is working hard to progress our value-driven approach to exploring and growing the potential of the Yalgoo gold project.

“These efforts are made easier by the fact that the geology of the area is outstanding for its gold potential, the presence of a proven goldfield that has existed for over 100 years with an unmined primary gold deposit, mineralised from surface, and with proven potential to deliver new discoveries as well as kilometres of scale for many more.

“This all amounts to a rare and valuable opportunity in the WA gold space.

“Firefly has the necessary experience, funding and support to build something special at Yalgoo and we expect to be out there on the ground making that happen for many years to come.”










Auteco Minerals Scores Outside Current Resource Boundary

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) announced drilling results from the company’s Pickle Crow project in Ontario, Canada.

Auteco Minerals claimed the latest drilling at Pickle Crow demonstrated the potential to increase the existing JORC 2012 Inferred Resource of 1 million ounces at 11.3 grams per tonne gold with reconnaissance drilling defining multiple new extensive mineralised envelopes in several areas outside the current Resource.

Multiple new lodes were discovered in Vein 13 drill area outside the existing resource including:

18.52 metres at 2.75 grams per tonne gold from 122.18m, including 1.38m at 21.02g/t gold from 131.94m;

1.52m at 12.34g/t gold from 91.44m; and

1.52m at 17.28g/t gold from 6.41m. (no selvedge sampling)

The first two holes drilled into Vein 5 SW extension defined a target area of 200m by 200m returning results of:

3.6m at 8.2g/t gold from 370m; and

2m at 3.8g/t gold from 138.45m.

The drilling also extended the previously reported Vein 5 Lode Extension, which is now defined over 300m by 350m with visible gold in multiple drill holes, with results including:

0.6m at 99.4g/t gold from 167.4m, including 0.3m at 181g/t gold from 167.4m;

1.6m at 25.8g/t gold from 95m, including 0.6m at 65.2g/t gold from 95.7m; and

1.6m at 19.6g/t gold from 372m.

“The definition of multiple new areas of quartz vein-hosted mineralisation with excellent geological continuity and multiple instances of visible gold provides more evidence of the vast potential of Pickle Crow,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“This is the same style of mineralisation from which the mine produced 1.5 million ounces at 16 grams per tonne historically.

“At the current drill spacing, the defined mineralised envelopes are analogous to existing high-grade resources, giving us confidence that infill drilling will constrain the high-grade gold shoots within the envelopes and bring the defined areas into the Inferred Resource category.

“This ongoing success supports Auteco’s investment assumption that historical exploration activity at the Pickle Crow Gold Mine had been constrained by prevailing geological assumptions that were open to challenge through an open-minded approach to old datasets and a return to first principal geological techniques.

“And given the strength of the latest results, we remain on track to meet our intended Resource upgrade in the first half of 2021.”








Genesis Minerals Drills Growth Potential at Orient Well

THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) reported on progress of a resource upgrade and extensional drilling program underway at the company’s 100 per cent-owned Ulysses gold project in Western Australia.

Genesis Minerals said it had been encouraged by recent results from the ongoing Reverse Circulation (RC) drilling program at the Orient Well deposit, one of several cornerstone deposits currently being targeted as part of a broader drilling program currently underway.

Results include:

12 metres at 1.44 grams per tonne gold from 85m; and
3m at 13.05g/t gold from 117m, including 1m at 37.2g/t gold from 117m;

9m at 1.68g/t gold from 39m;

33m at 0.76g/t gold from 68m, including 5m at 1.13g/t gold from 68m, including 5m at 2.49g/t gold from 96m;

34m at 0.81g/t gold from 75m, including 10m at 1.71g/t gold from 84m; and

25m at 0.51g/t gold from 82m.

“Orient Well continues to shape up as an important growth opportunity for the company,” Genesis Minerals managing director Michael Fowler said in the company’s ASX announcement.

“Importantly, the latest batch of assays are all from drilling well beyond the current 61,000 ounces Mineral Resource envelope, which bodes well for the potential Resource growth.

“The success of our drilling to date has prompted us to extend the program at Orient Well to the tune of a further 9,000 metres of drilling, as part of the upsized plus-35,000 metres program announced recently.

“Our team is continuing to do a great job of running the program in an efficient and cost-effective manner, notwithstanding the capacity constraints currently being experienced across the WA exploration sector.

“The key takeaway message for investors is that our drilling is continuing to verify and upgrade the known Resources on the Kookynie tenements and demonstrate strong potential to expand these Resources when we re-estimate the Mineral Resources early next year.”