Doray JV hits gold structure at Horse Well

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THE DRILL SERGEANT: Doray Minerals (ASX: DRM) has reported the completion of a diamond drill hole at the Horse Well Joint Venture project in the North East Yilgarn of Western Australia.

Doray signed a farm-in Agreement with Alloy Resources (ASX: AYR) in May over the Horse Well gold project.

The diamond drilling (ACDD001) was completed with the assistance of a Department of Mines and Petroleum Exploration Incentive Scheme grant.

It is the first to be carried out at the Dusk til Dawn prospect and, according to Doray, has intersected a considerable gold mineralised structure.

Results from ACDD001 demonstrate the hole to be mineralised along much of its length, including an interval of 120 metres at 0.60 grams per tonne gold from 105m downhole.

 

Dusk til Dawn prospect. Source: Company announcement

 

“The results from this first hole demonstrate the widespread alteration previously recognised at Dusk til Dawn by Alloy is most likely part of a major mineralising system and therefore indicates the Horse Well project could potentially host a substantial new gold deposit,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“It is still early days at Horse Well, but it is very exciting to see an intersection of this nature so early on in the exploration program.

“The wide mineralised structure that this hole has intersected indicates that, given the right geological environment, a significant gold deposit could have developed within the prospect area.”
 
Doray explained the hole was collared between two previously drilled RC holes to ensure high-quality drill core was obtained from a zone of known gold mineralisation.

The reasons for this course of action were to increase the JV’s understanding of the style and nature of alteration, mineralisation and structure within the
Dusk til Dawn system and to provide information for an aircore drilling program that is currently underway.

Structural data from ACDD001 has shown the hole was drilled oblique (approximately 45 degrees) to a gold bearing shear the JV considers could be a feeder to a substantial gold deposit.

Doray has commenced a regional scale aircore drilling program to test along the length of the granite contact northwest of the ACDD001 intersection in order to locate any mineralisation hosted within the identified structural corridor.

The program will take approximately one month to complete with assays and interpretation expected to be completed during the last quarter of 2014.

Email: info@dorayminerals.com.au

Website: www.dorayminerals.com.au

Genesis confirms high-grade gold at Beaker

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THE DRILL SERGEANT: Genesis Minerals (ASX: GMD) has received results of the initial drill program recently completed at the company’s Viking gold project in Western Australia.

A thirteen-hole confirmatory RC program targeted the Beaker 4 and Beaker 2 gold zones which form part of the Beaker gold prospect.

 

Viking project location with regional geochemistry on 1VD magnetic image. Source: Company announcement

 

According to Genesis the initial shallow drilling at Beaker 4, which focused on the Beaker 4 West structure, the western most structure currently defined at the Beaker 4 anomaly, confirmed high-grade gold mineralisation.

Best results included:

14VKRC001:
7 metres at 4.02 grams per tonne gold from 31 metres; and

14VKRC002:
6m at 6.04g/t gold from 73m, including 3m at 11.35g/t gold.

Genesis said the drilling highlighted a north-south trend to the Beaker 4 West structure with gold mineralisation open along strike and at depth.

The company expects future drilling at the Beaker 4 West structure will target the depth and strike extents of the Beaker 4 West structure.

“The initial results at Viking are extremely promising and validate the company’s belief in the project and its geological model,” Genesis Minerals managing director Michael Fowler said in the company’s announcement to the Australian Securities Exchange.

“Our small, first program of drilling at Viking confirmed the excellent potential of this project.

“This potential is demonstrated by the wide zones of oxide gold mineralisation returned in the limited drilling completed so far, as well as the confirmation of the high-grade structural targets that require systematic drill testing.”

At Beaker 2 three RC holes were drilled across part of a strike extensive Beaker 2 air core-defined gold anomaly, which Genesis described to wrap around the eastern edge of a magnetic intrusion which is spatially associated with the Beaker prospect.

Wide zones of near-surface oxide mineralisation were intersected at Beaker 2 including:

14VKRC009;
20m at 0.74g/t gold from 10m, including 5m at 1.88g/t gold;

14VKRC010:
20m at 0.59 g/t gold from 5m, including 5m at 1.91g/t gold; and

14VKRC011:
15m at 0.42g/t gold from 15m.

Genesis is confident potential exists to define a large oxide gold system associated with a high-grade vein system.

In addition to follow-up drilling at Beaker 4 and Beaker 2, the company plans further exploration in the coming months targeting at the strike extends of known mineralisation at the Beaker prospect.

Genesis indicated it will also commence the assessment of a number of the auger-defined gold anomalies throughout the Viking project.

Email: info@genesisminerals.com.au

Website: www.genesisminerals.com.au

Primary Gold increases Mt Bundy Resource

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THE DRILL SERGEANT: Primary Gold (ASX: PGO) has increased Mineral Resources at the company’s Mt Bundy gold project in the Northern Territory to 1.43 million ounces gold (JORC 2012-compliant).

Primary Gold said the updated figures represent a 21 per cent lift in ounces at Mt Bundy from the previous upgrade in July 2013, and a 40 per cent increase since the company acquired Mt Bundy in April 2013.

 

Mt Bundy gold project Mineral Resource, September 2014 (Rustlers Roost
represents PGO’s 80% interest). Source: Company announcement

 

The company emphasised 969, 000 ounces of gold now lies within the Indicated Mineral Resource classification.

The Mt Bundy gold project is located 90 kilometres southeast of Darwin and comprises the Toms Gully mine and mill and proximal resources at the Rustlers Roost and Quest 29 projects.

Primary Gold said the project encompasses an additional 2,200 square kilometres of under-explored Pine Creek terrain, which it considers to be prospective for further discoveries of quartz vein hosted gold mineralisation.

 

Toms Gully location & regional setting. Source: Company announcement

 

The Mineral Resource update incorporates results of recently completed drilling at Toms Gully, and updates of the Rustlers Roost estimate has been based on a review of the current reporting parameters and bringing them into line with JORC 2012 requirements.

In addition, a maiden Resource estimate has been reported for the Quest 29 deposit, located 13 kilometres south of Toms Gully.

“The Mt Bundy gold project has many of the key geological features of the multi-million ounce Pine Creek-Katherine gold camps to the south, yet the project remains substantially under-explored,” Primary Gold managing director Clay Gordon said in the company’s announcement to the Australian Securities Exchange.

“This resource inventory, situated within about 300 metres of the surface, we believe demonstrates there is significant gold in our part of the system, and given the lack of exploration, this presents an excellent opportunity for further resource growth.”

Email: info@primarygold.com.au

Website: www.primarygold.com.au

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.

Eyre Peninsula drilling progressing

Investigator Resources (ASX: IVR) has completed approximately half of a 13,000 metre reverse circulation percussion (RCP) drilling program on the company’s precious and base metals prospects on the Eyre Peninsula in South Australia.

Drilling re-commenced at the end of July on extensional step outs and satellite targets to the company’s path finding and now 100 per cent-owned Paris silver resource, 150km from Whyalla.

Investigator’s latest exploration program is also first-pass testing new targets at Ajax (30km east of Paris) and at Uno/Morgans (85km east of Paris) in the emerging Uno minerals province.

“With some $7million in cash, Investigator is in a strong position to continue our exploration momentum on the Eyre Peninsula,” Investigator Resources managing director John Anderson said.

“Investigator is now over half-way through its planned 13,000 metre, two-month drilling program on the highest priority targets on the Peterlumbo and Uno/Morgans tenements.

“The drilling results and pending assays will further increase our understanding of this emerging minerals province and will be reported when received and assessed.”


Drilling to test high-grade target at Lobo

Red Mountain Mining (ASX: RMX) has commenced drilling at Camo, one of five new priority drilling targets within the company’s Lobo prospect on the Batangas gold project, located south of Manila in the Philippines.

The objectives of the initial five diamond drill hole program are twofold:

To define the strike extremities of the near surface high-grade silver, copper and gold siliceous lode; and

To trace the down-plunge projection of the lode into the potential high-grade gold or ‘boiling’ zone.

“Over the past few months, while the rigs haven’t been turning, our in-country team has been working hard to identify and define five new priority target areas for drilling at Lobo – and Camo is the first cab off the rank,” Red Mountain Mining managing director Jon Dugdale said.

“The surface results at Camo indicate we are on top of a preserved epithermal system with high-grade silver (with copper and gold) at surface and the potential for a ‘look-alike’ to the high grade South West Breccia gold zone at shallow depth.

“Drilling will initially target the shallow silver-copper-gold target, then test for a high grade gold zone below.”

Rox increases Fisher East by 100% and some

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) has completed a maiden Mineral Resource estimate for the Musket nickel sulphide deposit, which has substantially increased the company’s Fisher East nickel sulphide project mineral resource inventory by over 100 per cent.

The Musket mineral resource estimate comprises 2.1 million tonnes at 1.8 per cent nickel containing 37,500 tonnes of contained nickel.

Of particular note is 64 per cent of the Musket resource estimate is in the Indicated Mineral Resource category, using a one per cent nickel lower cut-off.

At a higher cut-off grade of 2.5 per cent nickel the Mineral Resource contains 10,100 tonnes of nickel with approximately 75 per cent Indicated.

The resource at this higher cut-off grade is 100,000 tonnes at 10.1 per cent nickel.

Total Fisher East project resources (Musket + Camelwood) now stand at 3.6 million tonnes at 2 per cent nickel containing 72,100 tonnes of contained nickel.

Indicated resources account for 52 per cent of the total resource.

 

Camelwood-Musket long section showing Mineral Resource outlines. Source: Company announcement

 

“This maiden resource estimate for Musket demonstrates the continued prospectivity of the Fisher East nickel sulphide belt, and now builds the overall project resources to a total of more than 72,000 tonnes of contained nickel at a grade of 2 per cent nickel,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“Musket contains a very high grade core of approximately 100,000 tonnes grading 10.1 per cent nickel which lies close to surface and would be an obvious economic driver for any planned development.

“The high percentage of the resource in the Indicated category is indicative of the good continuity of the mineralisation.

“We previously stated that deposits of the style of Camelwood do not typically occur in isolation, and we proved that by discovering Musket.

“We have a strong ground position with the potential to discover a lot more nickel and continue to significantly grow the project resource base.

“Our discovery cost so far has been around 4.2 cents per pound of nickel, which is one of the lowest in the world.”

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

Impact extends Commonwealth mineralisation

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has received further assays from the maiden drill program underway at the company’s Commonwealth project, located north of Orange in New South Wales.

Impact claims the results have confirmed high-grade extensions to the deposits at the Main Shaft and the Commonwealth South prospects.

The company explained the drilling was designed to test a number of geophysical and geochemical target, including possible extensions to the known mineralisation both along trend and at depth.

Main Shaft

Extension to massive sulphide mineralisation:

6 metres at 7 grams per tonne gold, 383g/t silver, 8.5 per cent zinc, 3.2 per cent lead and 0.3 per cent copper from 59m, including:

1m at 14g/t gold, 279g/t silver, 2.4 per cent zinc and 2.9 per cent lead from 60 m;

1m at 11g/t gold, 509g/t silver, 11.2 per cent zinc and 3 per cent lead from 62 m; and

1m at 5g/t gold, 687g/t silver, 17.7 per cent zinc, 7.1 per cent lead, 0.7 per cent copper at 64 m;

Confirmation of high-grade mineralisation in previously known mineralisation:

10m at 6.8g/t gold, 216g/t silver, 15 per cent zinc, 3.4 per cent lead and 0.3 per cent copper from 51m, including:

1m at 23g/t gold, 311g/t silver, 7.4 per cent zinc and 4.5 per cent lead from 52 m; and

1m at 7.9g/t gold, 264 g/t silver, 25 per cent zinc and 3.4 per cent lead from 55 m.

Identification of possible copper-dominant ‘feeder zone’ at depth:

31m at 0.13 per cent copper and 5g/t silver from 209m, including:

1m at 1 per cent copper, and 14g/t silver from 210 m; and

1m at 0.7 per cent copper, 1.1 per cent zinc, 0.4 per cent lead, 31g/t silver and 0.4g/t gold from 218m.

Commonwealth South

Further extension of known mineralisation:

5m at 5.2g/t gold, 18g/t silver, 0.8 per cent zinc and 0.2 per cent lead from 94m, including:

1m at 16g/t gold, 27g/t silver, 0.6 per cent lead and 1.3 per cent zinc.

Further confirmation of near surface bulk mineable widths of mineralisation:

35m at 1g/t gold, 15g/t silver, 0.8 per cent zinc and 0.2 per cent lead from 21.4 m, including:

2m at 4g/t gold from 21.4m;

6.1m at 0.8g/t gold and 2.4 per cent zinc from 23.9 m; and

3.4m at 4.8g/t gold, 26g/t silver, 2.3 per cent zinc and 0.5 per cent lead from 51.6m.

“These results are very encouraging for the discovery of a significant deposit at Commonwealth,” Impact minerals managing director Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“This is the first systematic drill program beneath the near surface high-grade mineralisation and our intention was to try to define the orientation of the mineralisation in order to allow further step out drilling at depth.

“This is being achieved.

“The first discovery of massive sulphide mineralisation at Commonwealth South is also very exciting for Impact with the potential for further extensions to the south and at depth.

“Further permitting will be required for extra drilling and we have started preparing the required documentation for a follow up drill program.”

Heavy rain recently prevented access to the drill sites for a number of days in the past two weeks.

A further three shallow diamond drill holes remain to be completed and Impact indicated further assays are expected progressively over the next few weeks, which will include assays from Silica Hill.

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

Toro flipped by Wiluna disequilibrium

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THE DRILL SERGEANT: Toro Energy (ASX: TOE) has had an independent analysis carried out on uranium samples from the company’s Wiluna uranium project in Western Australia by the Australian Nuclear Science and Technology Organisation (ANSTO).

According to Toro the analysis has highlighted levels of positive disequilibrium in three of the Wiluna deposits.

The company explained disequilibrium analysis to be a lab-based analytical technique that tests the accuracy of measuring uranium via a gamma probe compared to chemical assay.

Apparently the presence of disequilibrium can affect the interpretation of gamma measurements and subsequent uranium estimates that result.

Toro went on to say that a substantial portion of the published Mineral Resources for the Wiluna project have been based on historic samples which estimated uranium content from the results of gamma data alone.

The consequence of ANSTO’s findings, it said, is that the existing published Mineral Resources at the Wiluna uranium project could be greatly understated.

Disequilibrium of greater than 1.1 is considered by ANSTO to be ‘positive disequilibrium’.

ANSTO undertook disequilibrium analysis on 40 half metre full core samples, from 22 sonic holes at the Lake Way, Millipede and Dawson Hinkler deposits collected during Toro’s 2013 drilling season.

Of the 40 samples tested by ANSTO, 27 returned positive disequilibrium results.

Toro has interpreted ANSTO’S results to suggest the application of a disequilibrium factor of at least 1.2 may be appropriate to gamma results used to estimate existing Mineral Resources for the Wiluna uranium project, with the exception of the Lake Maitland deposit.

Toro acquired the Lake Maitland project in November 2013, and its Mineral Resource estimate already includes the application of a disequilibrium factor of 1.18 to gamma results.

This factor was determined from previous positive disequilibrium results.

During 2013 and the first half of 2014, Toro undertook a major drilling campaign at the Wiluna project, totalling 2,074 air core and sonic drill holes.

The purpose of the drilling was to provide further information on the continuity of uranium mineralisation and facilitate Ore Reserve calculations as part of the project definitive feasibility study when that study is commenced.

Early indications from the 2014 drilling program geochemical and gamma results support the positive difference shown by the ANSTO results.

Toro will now evaluate the magnitude and extent of the positive disequilibrium, and assess how to incorporate the findings into the Mineral Resource estimation process.

Email: info@toroenergy.com.au

Website: www.toroenergy.com.au

Triton encouraged by Nicanda Hill intersections

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THE DRILL SERGEANT: Triton Minerals (ASX: TON) has received assays from an ongoing RC and diamond drilling program being undertaken at the company’s Nicanda Hill prospect in Mozambique.

Triton said the drilling has continued to identify high-grade graphite mineralisation at the prospect.

“The continued interception of strong graphitic and vanadium mineralisation on the initial wide-spaced drilling grid reinforces the company’s belief that the Nicanda Hill prospect will become one of the world’s largest multi-element projects,” Triton Minerals managing director Brad Boyle said in the company’s announcement to the Australian Securities Exchange.

“Further, the interception of graphite mineralisation of grades up to 25.2 per cent, also continues to validate the extension of the previously identified high-grade zones that are present along the entire mineralisation strike length of 4.8 kilometres and can be seen from surface to depths in excess of 400 vertical metres.

“These latest drill results continue to provide a solid foundation for the rapid progression and creation of the JORC 2012 resource at Nicanda Hill.”

Triton said it has completed approximately 70 per cent of the exploratory drilling program on the Nicanda Hill prospect, with 45 RC drill holes and 23 diamond drill holes finished.

The company claimed diamond drill hole (GBND0017) on drill section N6 intercepted 275 metres of graphite mineralisation from surface, finishing in graphite mineralisation and the hole remains open at depth.

Other highlights from the drilling include:

GBNC0034
142m continuous at 10.2 per cent graphitic carbon (GrC), including 36m at 15.2 per cent GrC and 10m at 19.6 per cent GrC;

GBNC0026
137m total at 10.1 per cent GrC, including 22m at 12.6 per cent GrC and 8m at 15.9 per cent GrC; and

GBNC0029

144m continuous at 10.4 per cent GrC, including 20m at 15.5 per cent GrC.

 

Plan showing significant drilling results at Nicanda Hill on License 5966. Source: Company announcement

 

Triton said the drill results had confirmed its belief graphite mineralisation intensifies and strengthens towards the north of the mineralisation footprint.

The early validation of the northern exploration targeting model, has provide Triton with the impetus to declare subsequent drilling will continue to focus on the location and interception of the high-grade areas.

The company indicated the drilling results have returned multiple high-grade graphite intercepts across the whole of the Nicanda Hill mineralisation footprint of up to 25.2 per cent GrC (GBNC0026).

Triton considers these results continue to indicate the strong present of graphite and vanadium and is confident of encountering further high-grade interceptions.

Website: www.tritonmineralsltd.com.au

Maximus returns pleasing results at Narndee

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THE DRILL SERGEANT: Maximus Resources (ASX: MXR) has received further assay results a recently completed drilling campaign on the company’s Narndee poly-metallic project located northeast of Perth in the Murchison region of Western Australia.

Maximus said 12 Reverse Circulation (RC) drill holes were completed across two mineralised targets, to follow-up previous drilling on the E59/908 tenement in the south of the Narndee project.

 

Narndee drilling showing ore zone clusters associated with interpreted fault structures. Source: Company announcement

 

The program was designed to test new targets Maximus had identified during an Induced Polarization (IP) survey earlier in the year on the tenement, in addition to testing previously identified targets.

Maximus said the results have confirmed the existence of at least two poly-metallic structures.

The company went on to say these structures appear to be separated by fault structures, as it had identified in the initial investigation phase in 2011.

The new assay results include:

1 metre at 3.83 per cent copper from 61m;

1m at 1.63 per cent zinc from 74m; and

10m intersection containing 10m at 0.46 per cent copper, including 1m at 1.2 per cent copper – plus 2m at 0.35 per cent zinc plus 3m at 0.2 per cent lead.

“The recent drilling also confirmed the earlier interpretation that mineralisation is associated with fault structures with major accumulations of mineralisation at the intersections of these fault structures,” Maximus Resources said in its ASX announcement.

“Maximus is now planning a further ground Electromagnetic (EM) investigation to determine the extent of the system followed up by additional drilling to continue to test the lateral and depth extent of these new poly-metallic systems.”

Email: info@maximusresources.com

Website: www.maximusresources.com

Centaurus increases Cadonga Resource

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THE DRILL SERGEANT: Centaurus Metals (ASX: CTM) has reported an increase in the DSO Mineral Resource for the company’s 100 per cent-owned Candonga iron ore project in south-east Brazil.

The updated JORC 2012 Mineral Resource estimate for the DSO (Direct Shipping Ore) component of the Candonga project now stands at 1.2 million tonnes (Mt) grading 63.2 per cent iron, of which one million tonnes grading 63.3 per cent iron is in the Measured and Indicated categories.

The company explained the updated DSO Mineral Resource will underpin the Candonga DSO Feasibility Study, which is scheduled for completion by the end of September 2014.

According to Centaurus the latest DSO Resource estimate represents a 33 per cent uplift in DSO Resource tonnes and a 7.5 per cent increase in the DSO Resource iron grade compared with the previous Mineral Resource estimate of August 2013.

The DSO Resource is part of the global Candonga Mineral Resource estimate, which now stands at 9.4Mt grading 43.7 per cent iron.

 

Candonga project JORC 2012 Mineral Resource Estimate by Resource Category, August 2014. Source: Company announcement

 

As part of the Feasibility Study for the project, the company indicated it has already commenced mine planning and pit optimization work.

The application for a Trial Mining Licence (Guia deUtilização – “GU”), which allows for mining of 300,000 tonnes per annum of ore per licence, was lodged in early April 2014.

“We are steadily ticking the boxes in moving Candonga towards development as a simple, low-cost DSO operation,” Centaurus Metals managing director Darren Gordon said in the company’s announcement to the Australian Securities Exchange.

“We are very pleased with the results of the recent drilling, which have enabled us to report a significant uplift in both the tonnage and grade of the DSO component of the resource.

“The new JORC 2012 compliant resource forms the foundation of our Feasibility Study, which is already well advanced and on track for completion by the end of the month.

“I’m pleased to say that all aspects of the project are progressing extremely well and we expect to be in a position to push the button on financing and development, subject to receipt of approvals, in Q4 2014.”

 

 

Email: office@centaurus.com.au

Website: www.centaurus.com.au