Hammer Metals Welcomes Sumitomo JV Continuation

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THE DRILL SERGEANT: Hammer Metals (ASX: HMX) should be taking questions without notice at the RIU Explorers Conference this morning after announcing it is in confidential discussions regarding a potential merger with Carnaby Resources (ASX: CNB).

Hammer Metals said discussions at this stage remain confidential and incomplete and are at a relatively early stage, adding that there is no certainty that a transaction between the companies will eventuate.

The company released another announcement regarding recent exploration activities and the status of its Mount Isa East Joint Venture with Sumitomo Metal Mining Oceania (SMMO) in North Queensland.

Hammer explained that SMMO has reached a milestone $6 million of exploration expenditure under the JV and has now elected to continue funding the joint venture.

However, Hammer signalled its intention to dilute its interest in the JV in order to preserve capital to focus on its 100 per cent-owned prospects.

“We are very pleased that our partner in the Mount Isa East Joint Venture, Sumitomo Metal Mining Oceania, has elected to continue to fund the JV after reaching the $6 million earn-in milestone,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.

“This is another important and positive milestone for our Mount Isa exploration efforts and secures the continued support of Sumitomo Metal Mining as a valued strategic partner in this part of our portfolio.

“Importantly, this will ensure that we have ongoing funding for exploration activity within the JV, with the first cab off the rank being the start of drilling in early March at the high-priority Shadow South IOCG target.

“This is a large and compelling IOCG target with significant geophysical, geochemical and geological characteristics.

“We are looking forward to seeing what this drilling can deliver.

“We have also now received all of the assay results from drilling completed late last year across multiple prospects within the Mt Isa East JV.

‘The results included several relatively narrow but very high-grade and broad spaced mineralised intercepts, several of which are considered to be worthy of further follow-up.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Azure Minerals Reports More Impressive Lithium Results from Andover

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THE DRILL SERGEANT: Just to underline why it was a worthy winner of The Graig Oliver Award at the RIU Explorers Conference, Azure Minerals (ASX: AZS) reported more lithium intersections from its Andover project in Western Australia.

Azure Minerals released assays it said continued to demonstrate drilling success at Target Area 1 (TA1) with the intersection of numerous exceptionally thick spodumene-bearing intervals within the AP0011 pegmatite.

Multiple broad (>100m) mineralised intersections were returned from AP0011 pegmatite, including:

ANRD0154
112.9 metres at 1.63 per cent lithium oxide (Li2O) from 408.5m (~107.0m True Width), including 24.6m at 2.17 per cent Li2O from 424.7m (~23.3m True Width);

ANDD0309
152.3m at 1.15 per cent Li2O from 330.7m (~137.1m True Width), including 34.7m at 1.73 per cent Li2O from 331.6m (~31.2m True Width); and

ANDD0334
112.0m at 1.24 per cent Li2O from 299.1m (~73.5m True Width), including o 40.6m at 1.55 per cent Li2O from 360.1m (~26.6m True Width).

“The latest assay results from diamond drilling of the AP0011 pegmatite have returned some of the thickest and highest-grade mineralised intersections received to date,” Azure Minerals said in its ASX announcement.

“Importantly, these assayed intervals correlate very strongly with previously reported visual spodumene observations.”

Azure has eight drill rigs currently operating at the project’s TA3 target to continue extensional drilling to define the extents of the mineralised pegmatites and infill drilling to provide sufficient density to support a maiden Mineral Resources Estimate.

A ninth diamond rig is still turning at AP0011 to undertake large diameter core drilling to provide bulk samples for the metallurgical test work program.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Brightstar Resources Encounters High-Grades Drilling at Menzies

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THE DRILL SERGEANT: Brightstar Resources (ASX: BTR) received assays from a recently completed RC drilling program at the Link Zone and Aspacia deposits at the company’s Menzies gold project in Western Australia.

Brightstar Resources completed a 28-hole RC drilling program at the Aspacia deposit, with best intercepts including:

MGPRC068
1 metre at 18.88 grams per tonne gold from 56m;

MGPRC078
1m at 13.91g/t gold from 60m;

MGPRC086
1m at 13.03g/t gold from 84m; and

MGPRC069
1m at 9.55g/t gold from 88m.

The company said the intercepts highlight the high-grade narrow vein nature of the mineralised system at Aspacia that is typical of the rich Menzies goldfield.

Brightstar has commenced work to deliver a JORC Mineral Resource Estimate for Aspacia targeted for released in Q1 2024.

Link Zone assays continued to demonstrate shallow mineralisation with potential for near-surface open pit extraction opportunities, including:

MGPRC096
7m at 1.74g/t gold from 16m; and

MGPRC103
1m at 3.93g/t gold from 35m.

“The RC drilling results returned at Aspacia continue to show strong continuity along strike and at depth, with multiple lodes of high-grade, narrow vein gold mineralisation delineated over a significant strike length of over 600m,” Brightstar Resources managing director Alex Rovira said in the company’s ASX announcement.

“This drilling program was designed to test along strike and down dip from known previous drilling intercepts and historical mining records, in preparation for delineation of a maiden Mineral Resource Estimate targeted for release later this quarter.

“This mineralisation style is common for the Menzies Goldfield and the Aspacia deposit, where the underground workings were historically mined at +30g/t gold.

“It is encouraging to see the consistency of the gold-bearing structures and intercepts across a strike length of 600m and up to 180m down dip and still open across the deposit.

“We are also encouraged by Link Zone also delivering economic (+0.5g/t gold) hits in twelve of fifteen holes drilled in late 2023 complementing the existing results announced on 22 January 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Tennant Minerals Hits High Copper at Bluebird

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THE DRILL SERGEANT: Tennant Minerals (ASX: TMS) reported further drilling results from the Bluebird high-grade copper gold discovery within the company’s 100 per cent-owned Barkly project in the Northern Territory.

Tennant Minerals’ latest drilling results include an exceptional intersection of:

BBDD0045
61.8 metres at 2.3 per cent copper, 0.4 grams per tonne gold from 149.2m.

The company described this as an “intensely mineralised intersection, from the western extension of the Bluebird discovery”.

The intersection included a very high-grade zone of 9.6 per cent copper over 13.2m, and a massive chalcopyrite interval grading 17 per cent copper over 6.85m.

Gold grades of up to 14.7g/t gold were also identified.

Two bulk composite samples; one from BBDD0045 and another from a second hole BDD0046 and are undergoing metallurgical test-work.

The test-work includes flotation tests to recover the copper sulphide mineralisation (predominantly chalcopyrite, chalcocite and bornite) and gravity concentration tests will aim to recover native copper and free gold.

The metallurgical testwork results are expected to be available in March.

“This latest exceptional intersection of copper with gold at Bluebird has extended and confirmed the continuity of the high-grade massive copper sulphide zone, which remains open at depth,” Tennant Minerals CEO Vincent Algar said in the company’s ASX announcement.

“It follows the intersection of significant visible copper mineralisation in two wide-spaced holes at the Bluebird East discovery, which indicates potential for the Bluebird mineralisation to continue from surface to more than 400m depth and link with Bluebird East over a strike-length of more than 800m.

“Every hole we drill gives us more encouragement that Bluebird is an exceptional emerging copper-gold discovery which will continue to grow with further exploration.

“We can now look forward to launching our next drilling program, aiming to define and extend the enlarged mineralised footprint and define a maiden Mineral Resource to support a stand-alone mining and processing operation to help meet growing global demand for copper and gold.”

 

 

Venture Minerals Scores Record Jupiter TREO Drill Hit

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THE DRILL SERGEANT: Venture Minerals (ASX: VMS) will be requesting punter form an orderly queue at its RIU Explorers Conference booth following this morning’s announcement.

Venture Minerals announced the first batch of assay results to be received from a recently completed Stage One Resource definition drill program at the large-scale, clay hosted Jupiter Rare Earths Elements (REE) prospect at the company’s Brothers project in the Mid-West region of Western Australia.

Venture Minerals declared the results validate its geophysics while covering only a fraction of the 40 square kilometres Jupiter target.

The headline drilling result of:

BRRC 71
48 metres at 3,025ppm total rare earth oxide (TREO)

…was claimed by Venture as being the highest grade, clay hosted REE intersection in Australia.

Other high-grade results were encountered, including assays up to 10,266ppm and 20,538ppm TREO, with the latter, again being claimed by Venture, as one of the highest clay hosted REE assay results in Australia to date.

“These record breaking ultra-high grade REE clay results, for Jupiter, place us well above our peers in terms of both grade and scale,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“What’s incredible is that these results are not isolated.

“They confirm consistent grades over 2,000ppm TREO in broad widths of 20-30 meters in 96 per cent of the holes and that is sitting within zones of around 60 metres over 1,000ppm TREO.

“We have lots of news flow to come, with further results pending for our Maiden Resource drill program.

“This drilling is widely spaced and down the track we will be working on infill drilling with the potential to uncover more impressive grades.

“Most drilling will be shallow aircore and RC, so its highly cost-effective.

“Keep in mind that these results cover a small area of our enormous, 40 square kilometres target and you can certainly understand that Jupiter is shaping up to be an incredibly impressive project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Si6 Metals Acquires Brazilian Exploration Portfolio

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THE DRILL SERGEANT: Si6 Metals (ASX: Si6) will have plenty to talk about next week at the RIU Explorers Conference after completing acquisition of a 50 per cent interest in a portfolio of exploration licences in Brazil.

Si6 Metals struck the deal with Foxfire Metals, a diversified exploration company focussed on the discovery and development of critical minerals in underexplored regions of Brazil.

With the Acquisition done and dusted, representatives of Si6 Metals’ subsidiary company, Brazilian Ventures will sit down with Foxfire Metals for an inaugural meeting of the Joint Venture Operating Committee with a view to approving an initial budget and exploration program.

Exploration in Brazil is scheduled to commence this month with an initial focus on the Caldera project in South Minas Gerais.

Foxfire Metals has been appointed as the manager of the JV.

Brazilian Ventures has committed to spend $1 million in the first year of the Joint Venture and free carry Foxfire Metals until completion of a Bankable Feasibility Study.

“This is a great milestone for Si6 and its shareholders, which now include Foxfire Metals, who we welcome and look forward to working with,” Si6 Metals managing director Jim Malone said in the company’s ASX announcement.

“The company is excited about commencing the initial exploration program at the highly prospective Caldera REE project located close to significant REE discoveries by ASX-listed companies, Meteoric Resources (ASX: MEI) and Viridis Mining and Minerals (ASX: VMM).

“This program will be closely followed by a program in the Lithium Valley which is host to Latin Resources (ASX: LRS) and Sigma Lithium Corporation (NASDAQ: SGML), to name a few success stories.

“The Lithium Valley program will take place close to S-Type G4 supersuite granites that are typically known to host lithium in spodumene bearing pegmatites.

“We look forward to emulating the success of our peers in both the Caldera area and the Lithium Valley.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Coda Minerals Consolidates Ownership of Cameron River

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THE DRILL SERGEANT: Coda Minerals (ASX: COD) is set to acquire 100 per cent-ownership of the Cameron River project in the Mt Isa region of Queensland.

The Cameron River project consists of 35 square kilometres of copper, gold, uranium, and rare earths exploration tenure spanning two Exploration Permits (EPMs 27042 and 27053).

The tenure is in an ideal neighbourhood being located approximately halfway between Mt Isa and Cloncurry, and immediately north of the historic Mary Kathleen uranium mine.

In 2021, Coda Minerals entered a binding Farm-In and Joint Venture Agreement receiving the right to acquire up to an 80 per cent ownership in the Cameron River project.

Coda has now executed documents with Wilgus Investments to consolidate 100 per cent-ownership of the tenure.

Wilgus retains the right to a 1% NSR payable on any mineral products mined from the tenure on terms customary for this form of transaction.

“This consolidation is a logical next step for both parties and will simplify ongoing exploration and commercialisation of Cameron River,” Coda Minerals CEO Chris Stevens said in the company’s ASX announcement.

“Elizabeth Creek is clearly our first priority; however, Cameron River remains highly prospective exploration tenure located in an area famous for copper, gold, uranium, and rare earth elements.

“We look forward to reporting the results of current review and exploration work to the market later in the quarter.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Kin Mining Completes Sale of WA Gold Deposits to Genesis Minerals

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) completed the sale of selected gold deposits within the company’s Cardinia gold project in Western Australia to Genesis Minerals (ASX: GMD).

Kin Mining first announced the deal was to be done in December 2023 when it agreed to sell the tenements hosting the Bruno, Lewis, Kyte and Raeside deposits, which collectively contain JORC compliant Mineral Resources totaling 610,000 ounces, to Genesis for consideration comprising $15 million in cash and approx. 22 million un-escrowed Genesis shares based on a 5-day VWAP at the time, valued at $38.5 million.

The total transaction of $53.5 million means Kin is now well-funded with $80 million in cash and liquid assets (assuming a GMD share price of $1.615ps), which the company indicated will assist in its pursuit of a range of strategic opportunities.

“We are very pleased to announce the completion of this transformative transaction, which crystallises significant value for our shareholders from the company’s efforts over the years to build a substantial resource inventory at the Cardinia gold project,” Kin Mining executive chairman Rowan Johnston said in the company’s ASX announcement.

“Kin is now in an enviable position in the junior resources space, with a very strong balance sheet and the ability to move forward with a range of exciting strategic opportunities.

“In the near term, we are excited to be drilling and testing the newly discovered VHMS horizons at Cardinia and then moving on with commencing drilling for deeper and higher grade gold targets.”

 

 

Miramar Resources Identifies Uranium Targets at Bangemall

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THE DRILL SERGEANT: Miramar Resources (ASX: M2R) has added uranium to the suite of commodities it is chasing within the company’s 100 per cent-owned Bangemall projects, in the Gascoyne region of Western Australia.

Miramar Resources reported identification of numerous large uranium targets within the Bangemall project area.

The targets emerged via regional radiometric data the company said to show multiple large and high-amplitude uranium anomalies that stretch over at least 100 kilometres of strike and across several of Miramar’s tenements.

Miramar has defined a 60-kilometre-long uranium anomaly within the Cheyne Springs target towards the northern edge of the Edmund Basin, at the contact with the older Ashburton Basin rocks.

The company explained the large radiometric anomaly has been virtually unexplored except for a few wide-spaced historic rock chip samples.

Miramar is now working towards grant of the tenement applications at Cheyne Springs, and the adjacent Blue Bar target.

“Our Bangemall landholding has potential for multiple commodities and deposit types,” Miramar Resources executive chairman Allan Kelly said in the company’s ASX announcement.

“Proterozoic orogens throughout Australia and worldwide host many large base and precious metal deposits, and we believe the Capricorn Orogen should be no exception.

“Whilst our current focus is on exploring for Norilsk-style nickel, copper and platinum group elements at our Mount Vernon and Trouble Bore projects, we have a very long list of attractive exploration targets we aim to systematically explore.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Barton Gold Holdings hits Shallow High-Grade Mineralisation at Area 51

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THE DRILL SERGEANT: Barton Gold Holdings (ASX: BGD) reported drilling results achieved from the Area 51 gold zone at the company’s Tunkillia gold project in South Australia.

Barton Gold Holdings carried out this round of drilling in late 2023 following prior programs in 2022 and early 2023 that had resulted in updating the projects Mineral Resource Estimate to 1.38 million ounces of gold.

Key new Area 51 intersections include:

TKB172D
47.6 metres at 0.48 grams per tonne gold from 48.4m;

TKB174D
21.4m at 1.06g/t gold from 41.6m, including 12.4m at 1.54g/t gold from 44.6m; and

TKB175D
44.6m at 1.81g/t gold from 64m, including 6m at 5.85g/t gold from 69m, including 1m at 19.95g/t gold from 80m.

The company declared the latest results to have confirmed and extended mineralisation at Area 51 to over 700m, with a substantive ‘core zone’ identified to contain broad gold mineralisation.

“These results further validate the expansive potential of Tunkillia’s gold mineralisation,” Barton Gold Holdings managing director Alex Scanlon said in the company’s ASX announcement.

“Located approx. 4km northwest of the 223 Deposit area, Area 51 is the fifth new gold zone we have confirmed within this radius during the past two years.

“Three of these have recently been converted to JORC Resources during December 2023, and we are now reviewing Area 51 for the same potential as we continue to build out the project’s mineralised footprint.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE