Investigator encouraged by latest assays from Paris drilling

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THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has received initial results from the recommencement of drilling around the company’s 100 per cent-owned Paris silver project on South Australia’s Eyre Peninsula.

The company reported the first batch of assays have shown silver intersections in a step-out program around Paris and the first copper hits as well as high-grade silver 3.5 kilometres to the northeast at the Helen prospect.

Investigator has now expanded the drill program from the initially planned 10,000m in response to the positive early results.

Around Paris a total of 30 vertical reverse-circulation percussion (RCP) holes were drilled. Highlights include:

PPRC211
3 metres at 328 grams per tonne silver from 159m;

PPRC204
9m at 65g/t silver from 99m; and

PPRC207
6m at 98g/t silver from 63m.

These results are approximately 300m to 400m to the north of the current 20 million ounce Paris silver Inferred Resource.

At the Helen prospect, 3.5km northeast from Paris, eight vertical RCP holes were drilled.

Assays included:

PPRC234
45m at 0.35 per cent copper from 27m, including 9m at 1.14 per cent copper and 0.31g/t gold from 60m, and 9m at 377g/t silver (and 0.15 per cent copper) from 132m; and

PPRC236

45m at 0.13 per cent copper from 39m.

 

Plan of Paris surrounds and Helen area showing recent drilling for which assays are received. Source: Company announcement

 

“We are about half way through our current Eyre Peninsula drilling around Paris and the first assay results are providing a pleasing strike rate for such a scout program,” Investigator Resources Managing Director John Anderson said in the company’s announcement to the Australian Securities Exchange.

“The Paris silver resource covers an area approximately 1,200 metres by 400 metres, and this new drilling included testing of new zones 400 metres to the north.

“The results are broadly consistent with what we expected – that is some good silver intersections at about 50 metres to 150 metres depth – and we will look to return in the future with more targeted infill drilling.”

Investigator indicated it anticipates further assay results in the coming weeks and months as drilling is completed at the new Helen East and Ajax silver soil targets and Helen West and Diomedes copper gold soil targets.

Other drilling will entail follow-up drilling around the new Paris and Helen intersections and the recently drilled Uno/Morgans prospects 85km to the east of Paris.

“At Helen, only shallow scout drilling had been undertaken in the past on silver soil targets,” Anderson continued.

“Our new drilling went to a deepest depth of 144 metres into a magnetic target and encountered some good copper and silver mineralisation along the way.

“This shows there is a new generation of geophysical targets for testing that adds to the district’s potential to host epithermal precious metals and related porphyry or IOCG-style base metal deposits.

“Assays from the recent first drilling of the nearby Helen East, Helen West and Diomedes targets will also be important in designing follow-up programs.”

Email: info@investres.com.au

Website: www.investres.com.au

Rumble identifies potential feeder zone at Big Red

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THE DRILL SERGEANT: Rumble Resources (ASX: RTR) has completed 3D inversions of a recently-flown airborne magnetics survey at the company’s Big Red project, located in the Northern portion of the Fraser Range Belt in Western Australia.

The company said the 3D inversion results have highlighted a large area that is both conductive and magnetic.

The results have also, for the first time, highlighted a relationship with a large gravity body located adjacent to it.

The newly-identified area is north plunging and is coincident with the 2.2 kilometre conductor which is one of the largest in the Fraser Range.

Rumble considers the area of both high magnetics and moderate conductance to represent a possible feeder zone to a larger body outlined by a large six kilometre gravity body located to the northwest which has been interpreted as a large magma chamber.

 

EM drill target. Source: Company announcement

 

The company explained the importance of feeder zones, saying they can contain nickel and copper sulphides and citing the Ovoid deposit at Voisey’s Bay in Canada as an example.

Rumble said the magnetic response highlighted by the 3D inversions may be due to the presence of magmatic magnetite.

“It has been interesting and exciting to bring these layers of data together to determine that there is a large system with significant gravity, magnetic and importantly conductive units,” Rumble Resources executive director Terry Topping said in the company’s announcement to the Australian Securities Exchange.

“To have an exploration target of this size representing a possible feeder system within rock units of the Fraser Range when exploring for nickel and copper sulphides shows that the company is on the right track.

“We are looking forward to drilling this target in the near future.”

Email: enquiries@rumbleresources.com.au

Website: www.rumbleresources.com.au

Sheffield extends Thunderbird

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THE DRILL SERGEANT: Sheffield Resources (ASX: SFX) announced recently-received drilling results from the company’s 100 per cent-owned Thunderbird mineral sands project, located near Derby in northwest Western Australia.

Results of initial assay batches from 37 extension, infill and groundwater monitoring drill holes from the 2014 aircore drilling program have been received, which the company claims to have extended mineralisation in up-dip and down-dip regions of the Thunderbird deposit.

Best results include:

Up-dip Extension

THAC469
30 metres at 8.56 per cent heavy minerals (HM) from 0m, including 21m at 10.9 per cent HM from 0m;

THAC468
33m at 7.74 per cent HM from 0m, including 10.5m at 16 per cent HM from 1.5m; and

THAC465
30m at 7.77 per cent HM from 0m, including 10.5m at 14.3 per cent HM from 0m.

Down-dip Infill & Extension

THAC448
58.5m at 8.33 per cent HM from 58.5m, including 34.5m at 10.5 per cent HM from 60m;

THAC442
52.5m at 8.9 per cent HM from 36m, including 39m at 10.5 per cent HM from 39m; and

THAC445
49.5m at 9.71 per cent HM from 63m, including 42m at 10.9 per cent HM from 69m.

(>3 per cent HM cut-off, including >7.5 per cent HM cut-off).

 

Plan view of Thunderbird deposit 32-year pit shell outline on Mineral
Resource Classifications showing location of recent drill holes. Source:
Company announcement

 

Sheffield said the results from the up-dip drilling had demonstrated continuity of thick, shallow, high-grade mineralisation beyond the current resource envelope.

It declared the results of the down-dip drilling were similar to the up-dip results in that they too extended mineralisation, this time to the southwest while demonstrating a strong continuity of mineralisation within part of the resource currently classified as Inferred.

The company emphasised these drilling results are outside the 32-year life-of-mine (LOM) optimised pit shell, which was used in the April 2014 Scoping Study.

It considers these results may have potential to improve the project’s already impressive economics.

“This is a terrific result, confirming the deposit extends both up-dip and down-dip and remains open,” Sheffield Resources managing director Bruce McQuitty said in the company’s announcement to the Australian Securities Exchange.

“The discovery of additional high-grade mineralisation in the up-dip region is particularly significant because our Scoping Study delivered higher margins in early production years from this region.

“We look forward to further results from recently completed drilling in the remainder of the up-dip region.”

Sheffield said its current Pre-feasibility work is well advanced and is on schedule to be finalised during Q1 2015.

Website: www.sheffieldresources.com.au

Cardinal claims third high-grade gold discovery

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THE DRILL SERGEANT: Cardinal Resources (ASX: CDV) has claimed the discovery of a third sub‐parallel zone of high-grade gold mineralisation at the Namdini Mining Licence.

Cardinal said the third sub‐parallel zone had been confirmed during a Phase II RC drilling program at the Namdini gold bearing mining licence located within the company’s Bolgatanga project in Ghana.
Latest results fromn the RC drilling include:

2m at 4.10 grams per tonne gold from 4m vertical;

2m at 3.48g/t gold from 17m vertical;

5m at 3.25g/t gold from 61m vertical;

4m at 3.22g/t gold from 78m vertical;

7m at 2.78g/t gold from 8m vertical;

17m at 2.77g/t gold from 56m vertical;

7m at 2.01g/t gold from 23m vertical;

12mat 1.98g/t gold from 67m vertical; and

17m at 1.75g/t gold from 21m vertical.

Cardinal indicated it has further RC drill holes planned to expand the Namdini gold project.

 

Namdini proximity map. Source: Company announcement

 

“We are very encouraged with the confirmation that a third sub‐parallel zone of mineralisation has been intersected at Namdini,” Cardinal Resources managing director Archie Koimtsidis said in the company’s announcement to the Australian Securities Exchange.

“Whilst drilling through the second sub‐parallel mineralised zone, the third sub‐parallel mineralised zone was intersected approximately 10 metres beyond it.

“These very encouraging results will assist with further drill planning which we anticipate will further expand the gold potential with these new sub-parallel discoveries at Namdini.”

Cardinal Resources said its combination of owning the drill rig and having an express service with the assay results, has enabled the company to implement a drill plan strategy of completing selective drill holes, submitting the samples and immediately placing the drill rig contract staff on standby until assay results have been received and assessed.

Using this approach the company indicated it intends to RC drill a further 2,000m over the next 30 days, saying it expects all results and analysis to be completed by late October 2014.

Website: www.cardinalresources.com.au

Bassari releases Makabingui maiden Reserve

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THE DRILL SERGEANT: Bassari Resources (ASX: BSR) has announced a maiden gold Ore Reserve from the company’s Makabingui gold project in Senegal, West Africa.

The company explained the conversion of Indicated Resources to Ore Reserves is for the initial stage of the project, which is focused on high-grade zones within the one million ounce gold resource.

The Ore Reserves are in accordance with the 2012 JORC Code.

The maiden open pit gold Ore Reserve for Makabingui has been calculated at 158,000 ounces in 860,000 tonnes at 5.7 grams per tonne gold.

 

High-grade open pit mine area layout. Source: Company announcement

 

“The maiden open pit gold ore reserve for Makabingui is a significant milestone and underpins our high-grade open pit development strategy,” Bassari Resources managing director Jozsef Patarica said in the company’s announcement to the Australian Securities Exchange.

“We are moving forward on all fronts to rapidly unlock value from our Makabingui gold project.

“This ore reserve has been delivered on the back of the recent high-grade underground scoping study which highlights further significant high-grade zones within the existing resource.

“Importantly, this highlights Makabingui, based on the feasibility study, as a profitable gold project in the current gold price environment.

“Our primary objective is to fast track Makabingui into production establishing early positive cash flow.

“To deliver this we are reviewing funding options with a number of banks and financial institutions and in parallel progressing the plant upgrade design work and developing the mine services contract.”

Email: admin@bassari.com.au

Website: www.bassari.com.au

Laconia review extends Favi Vent Zone mineralisation

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THE DRILL SERGEANT: Laconia Resources (ASX: LCR) has received more good news from its ongoing review of historical data at the company’s Kimsa Orcco project in Peru.

The review has produced further high-grade copper-gold-silver-tellurium results from exploration work completed by Buenaventura Ingenieros SAC during 1999, 2001 and 2002.

This work consisted of surface channel sampling, conducted at the San Valentin and the San Valentin East veins during 1999, trenching and channel sampling at regular intervals along the San Valentin and San Valentin East veins during 2002, and diamond drilling at San Valentin vein during 2001 and 2002.

Laconia declared the San Valentin veins to be the latest additions to the evaluation of the Kimsa Orcco project, adding they have demonstrated the calibre of mineralisation within the Favi Vent Zone.

Surface channel sample results at San Valentin include:

1.3 metres at 31.26 grams per tonne Au, 572.77g/t Ag, 95g/t tellurium and 1.3  per cent copper in sample 29410;

1.25m at 6.32g/t gold, 288.61g/t silver, 83g/t tellurium and 2 per cent copper in sample 29411;

0.4m at 13.08g/t gold, 224.47g/t silver, 24.1g/t tellurium and 1.82  per cent copper in sample 63753; and

0.9m at 7.83g/t gold, 341g/t silver, 69.5g/t tellurium and 1.8 per cent copper in sample 63747.

Surface channel sample results at San Valentin East include:

1.9m at 5.54g/t gold and 61.91g/t silver in sample 63838; and

1m at 2.09g/t gold and 345.12g/t silver in sample 63840.

 

Plan View of the Southern Kimsa Orcco prospects with high-grade
copper-gold-silver (green labels) or gold-silver (black labels).
Copper-gold-silver prospects at the Favi Vent Zone have green-blue
labels. Gold-silver prospects outside the Favi Vent Zone have black
labels. Source: Company announcement

 

“Our evaluation continues to grow the mineralisation zone at Favi,” Laconia Resources Managing Director Ian Stuart said in the company’s announcement to the Australian Securities Exchange.

“The association of tellurium with the high-grade gold-silver-copper is very significant.

“The addition of the San Valentin veins combined with hydrothermal breccias identified at Breccia 18 supports Laconia’s view a stand-alone copper-gold-silver deposit is present at the Favi Vent Zone and is possibly overlying a large porphyry system at the Kimsa Orcco project.”

Email: info@laconia.com.au

Website: www.laconia.com.au

Hammer enhances Kalman open pit potential

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THE DRILL SERGEANT: Hammer Metals (ASX: HMX) reported the thickest and highest grade molybdenum-rhenium intersection yet from the company’s 100 per cent-owned Kalman copper-gold-molybdenum-rhenium deposit.

The hole (K132) was part of a recently-completed Reverse Circulation (RC) drilling program consisting of 10 holes at the Kalman, Overlander North, Dronfield, Even Steven and Trafalgar prospects near Mount Isa in North West Queensland.

K132 was designed to infill a poorly tested section of the upper part of the main ore shoot at Kalman.

Results from K132 include:

62 metres at 0.65 per cent molybdenum, 11.4g/t rhenium, 0.16 per cent copper, 0.07g/t gold and 1.5g/t silver (62 m at 4.3 per cent copper equivalent) from 152m, including 7m at 3.44 per cent molybdenum, 57g/t rhenium, 0.33 per cent copper, 0.16g/t gold and 5.5g/t silver (7m at 21.8 per cent copper equivalent) from 206m;

11m at 1.20 per cent copper and 0.41g/t gold from 55m;

26m at 0.60 per cent copper and 0.22g/t gold from 112m; and

4m at 0.37 per cent molybdenum and 5.9g/t rhenium from 268m.

 

Project locations. Source: Company announcement

 

“Our positive drilling results from our 10o per cent-owned Kalman deposit further demonstrate the substantial potential of our Mount Isa projects,” Hammer Metals executive director Alexander Hewlett said in the company’s announcement to the Australian Securities Exchange.

“This very encouraging result at Kalman reinforces the robustness of this significant deposit.

“Given the high-grade (and high value) of this mineralisation and with the currrent relatively wide-spaced drill pattern there is considerable potential to extend this zone both closer to surface and laterally with further drilling.

“The impact of this discovery on the economics of open pit mining could be significant.”

Two holes were drilled in the Kalman area (K131 and K132).

K132 was designed to infill a poorly tested section of the upper part of the main ore shoot at Kalman and K131 to test for potential strike extensions at the northern end of the deposit.

The results for K131 are still awaited.

The Kalman copper-gold-molybdenum-rhenium deposit is located 60 kilometres southeast of Mount Isa and is 100 per cent-owned by Hammer Metals.

The Kalman Mineral Resource Estimate was updated in March 2014 in accordance with the JORC Code 2012.

The Resource comprises a combined 30 million tonnes at 1.3 per cent copper equivalent (CuEq) at 0.54 per cent copper, 0.28 per cent gold, 0.08 per cent molybdenum and 2.2 grams per tonne rhenium in the Inferred category.

Website: www.hammermetals.com.au

Dart metallurgy tests revive Unicorn

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THE DRILL SERGEANT: Dart Mining (ASX: DTM) claims to have turned around the fortunes of the company’s Unicorn deposit, located near Corryong in Victoria.

Dart has approached Unicorn from a different perspective, utilising metallurgical test work, which it says has demonstrated the ability to produce saleable concentrates of both copper and molybdenum across the Unicorn deposit.

The company declared the results to be an unambiguous turnaround for the Unicorn project and enhances its prospects of development to production.

Dart Mining explained the test work results – replicated by two independent laboratories – were achieved using a number of commercially-proven extraction processes that are used at the Hellyer copper mine in Tasmania and other mines throughout the Lachlan Fold Belt in Australia.

The company described the results as being a major step towards establishing commercial viability of, what it considers to be, Victoria’s most exciting mineral project.

The extraction of marketable concentrates from sulphide material means the twin metallurgical challenges that previously threatened the Unicorn project have now been reversed.

Saleable metal has been extracted from the oxide material and marketable concentrates of molybdenum and copper have been extracted from the more plentiful sulphides across the deposit.

Laboratory test work is continuing to optimise results.

“The important aspect is that these results were achieved using conventional processes, greatly reducing both technical and commercial risk,” Dart Mining chairman Bruce Paterson said in the company’s announcement to the Australian Securities Exchange.

As a result of this successful testwork, Dart is now in the process of developing an indicative draft process flowsheet which includes recoveries from all mineralised zones within Unicorn.

Ongoing detailing and design to optimise economic outcomes, will form a key element of the current prefeasibility studies that are expected to be completed early in the first half of 2015.

Website: www.dartmining.com

Parmelia works-up Dunnsville potential

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THE DRILL SERGEANT: Parmelia Resources (ASX: PML) outlined the progress it has made at the company’s 100 per cent-owned Juardi Hills nickel-sulphide project, located 50 kilometres north-west of Coolgardie in Western Australia.

The company has received results of independent analysis of legacy GEOTEM airborne electromagnetic data, historic rock chip data and surface samples, which it claims to have enhanced the magmatic nickel-sulphide exploration potential of the Dunnsville nickel prospect, situated within the Jaurdi Hills project.

 

Source: Company announcement

 

Parmelia explained it has had a reinterpretation of legacy GEOTEM airborne EM data carried out that has identified a sizeable conductor co-incident with the previously-identified Southern High Priority Target.

The review identified anomalous historical soil samples with peak nickel (1260ppm), copper (315ppm) and cobalt (150ppm) results from the Southern Target are, which Parmelia said were located almost exactly up-dip of the centre of the conductor.

Of note were historical soil samples with elevated PGE (>60ppb platinum+palaldium) results, which were shown to encircle the conductor.

The company considers these enhance the prospect of nickel sulphides being present.

A new rock chip sample taken by Parmelia from an outcrop 230 metres from the surface projection of the conductivity anomaly returned highly anomalous nickel (1358ppm), copper (1849ppm), platinum (194ppb) and palladium (125ppb) results.

The company indicated further, historical, rock chip sample data also confirms the presence of both nickel (over 1000ppm) and copper (over 300ppm) co-incident with the Southern
Target.

Mapping carried out by the company has also confirmed a geological sequence it considers to be typical of that which hosts Kambalda-type nickel-sulphide deposits.

Parmelia said these latest results enhance the possibility of a nickel-sulphide discovery at the Southern High Priority Target.

“All of the data received to date, including the identification of a conductivity anomaly coincident with anomalous nickel and nickel-sulphide pathfinder surface geochemistry in a komatiitic geological setting, points to the significant potential for a nickel-sulphide discovery at the Southern High Priority Target,” Parmelia Resources executive chairman Nigel Gellard said in the company’s announcement to the Australian Securities Exchange.

“We are excited and encouraged by this recent development and we look forward to keeping the market updated on our progress at Dunnsville”

Email: info@parmeliaresources.com

Website: www.parmeliaresources.com

Hi Ho, Hi Ho, it’s off to work we go

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THE DRILL SERGEANT: Each week any number of junior exploration plays set out to drill their ground. Here’s a small selection of what’s been happening this week.

Second drill rig to accelerate drilling program

Hot Chili (ASX: HCH) has an extensive drilling program underway to grow Mineral Resources and Ore Reserves at the company’s Productora copper project in Chile.

The initial drilling is focussing on a series of high-priority exploration targets within development distance of the Productora central pit area.

A number of regional targets have also been prioritised for drill testing as part of the first exploration drilling undertaken at Productora for more than 18 months.

Drilling activities are now set to accelerate with the addition of a second drill rig and the commencement of diamond drilling.


Woodlawn drilling commences

Heron Resources (ASX: HRR) has commenced its 2014 drilling program at the Woodlawn project, located in New South Wales.

The Woodlawn VMS system comprises 12 known massive sulphide lenses and these are the focus of the current drilling program.

The target is to delineate additional resources up and down dip in support of recommencing underground mining at Woodlawn, including the testing of the new Kate Lens, discovered in 2013.

The drilling program consists shallow RC drilling, and diamond drilling and is separated into four major components:

Shallow RC drilling to test the up-dip extension to known lenses;

Mid-depth diamond drilling targeting Kate Lens and other western lenses;

Limited deep drilling targeting I, I2, D and B Lenses; and

Geotechnical drilling for the box cut and access decline.


Resource drilling commencing at O Capitão gold project

Cleveland Mining Company (ASX: CDG) has mobilised a drill rig to commence an in-fill resource definition drilling program at the Dona Maria prospect, one of the two areas of mineralisation within the Cleveland-Premier Joint Venture’s O Capitão project in Goias State, Brazil.

The drilling is expected to take around six weeks to complete, and is aimed at defining an initial JORC compliant Mineral Resource sufficient to underpin the first 12 months of mining from Dona Maria.

In addition, a small ‘trial pit’ is being planned for the nearby “Lavra” prospect, which will be designed based on non-JORC compliant mineralisation due to the existence of an undefined level of historic Garimpeiro (artisanal) underground workings, which make it impractical to define a resource at this stage.

It is envisaged that a small open pit operation will clearly define the level of underground voids and allow for resource definition work to begin.

Drilling commenced at Simmons prospect

Australian Mines Limited (ASX: AUZ) has commenced diamond core drilling at the Simmons prospect, located within the company’s Marymia project area in Western Australia.

This drilling program follows completion of a ground-based electromagnetic (EM) survey over selected base metal targets across the Marymia project area, which detected a conductive body adjacent to an historic nickel-in-soil anomaly.

The initial drill program is anticipated to take one month to complete.

“The team at Australian Mines is very pleased with the results returned from the Simmons prospect to date, and we enthusiastically await the results from the current drill program,” Australian Mines managing director Benjamin Bell said.

“We also look forward to advancing our exploration over a number of other nickel and copper-gold targets recently identified across our Marymia project.”