THE DRILL SERGEANT: Prospect Resources (ASX: PSC) has intersected high-grade gold during a recently completed maiden drilling program at the company’s Prestwood gold project in Zimbabwe.

Prospect said the six hole RC drilling program at the historic Prestwood gold mine was successful in achieving its two main objectives.

 

Prestwood grid plan projected over Quick Bird Satellite. Source: Company announcement

 

These were to prove the continuity of the historically mined Main Gold Reef, at economic grades along strike and down dip and to identify parallel zones of mineralisation, particularly at the greenstone-monzonite contact, which the company considers can be projected to near-surface, potential targets for open-pit operations.

Highlight Results included:

BPC001
Primary intercept of Main Reef: 9.23 ggrams per tonne gold over 1m, at 153m (130m vertical). Average grade after three re-assays of 7.86g/t gold;

Upper Reef: 1.1g/t gold over 1m at 120m;

Sheared Monzonite contact: 1.1 g/t gold over 1m at 107m.

BPC004
Primary intercept of Main Reef: 2.73g/t gold over 1m, at 219m.

BPC005
Primary intercepts of Main Reef: 4.11g/t gold over 1m, at 190m (175m vertical) and 9.94 g/t gold over 1m at 193m.

BPC006
Prestwood A Shear Zone: 12.28g/t gold over 1m, at 52m.

“Prospect is delighted with the results of the drill program at the Prestwood Mine, which have helped validate its development plan to bring the project into production as a high-grade gold mine in the near term,” Prospect Resources said in its ASX announcement.

“The company now plans to proceed quickly with shaft rehabilitation and then underground drilling.”

Prospect said the recent drilling program had confirmed the mineralised reef continues below the historic gold workings, and five of six holes drilled intersected intact Main Reef down dip of the existing workings, to 195m below surface.

The company considers the presence of high grade intercepts (12.3g/t gold over 1m) within the shallower shear zone (that also hosts the Prestwood A mine) to be of some significance as it believes the present an ideal target for potential larger disseminated deposits, amenable to open-cast extraction.

Email: info@prospectresources.com.au

Website: www.prospectresources.com.au

THE DRILL SERGEANT: Syndicated Metals (ASX: SMD) has intersected high-grade copper mineralisation during its maiden regional Reverse Circulation (RC) exploration drilling program at the company’s Barbara copper-gold Joint Venture project in northern Queensland.

The company has been drilling to target potential new zones of mineralisation at a group of satellite exploration prospects located south-west of the Barbara deposit.

 

Long Section showing recent RC drilling results. Source: Company announcement

 

Syndicated has asserted this drilling has been successful in confirming the presence of high-grade copper mineralisation down-plunge of historical workings and surface mineralisation at the Lillymay and Mt Olive prospects.

Best results included:

Lillymay:

3 metres at 7.41 per cent copper from 106 metres; and

5m at 2.16 per cent copper from 99m.

Mt Olive:

2m at 3.02 per cent copper from 38m;

2m at 2.52 per cent copper from 82m; and

2m at 1.70 per cent copper from 49m.

“These results, particularly the high-grade hits at Lillymay and Mt Olive, clearly show the significant untapped exploration potential within the broader Barbara area and the opportunity to establish additional zones of high-grade mineralisation which could complement the known resources and deliver future high-grade feed to the main operation,” Syndicated Metals managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

The company explained the intersections are relatively narrow, however it considers they confirm the depth continuity of the high-grade mineralisation extracted historically from surface workings.

Syndicated claimed the results support the interpretation of vein and shear zone hosted sheets of steeply plunging high-grade copper mineralisation and confirm the Barbara deposit to be an obvious follow-up exploration target.

“The objective of the maiden satellite prospect drilling program was to assess the depth potential below old workings in areas where the initial exploration encouragement was generated by successful soil geochemistry programs completed last year,” Munckton said.

“These results have provided certainty that the copper-rich veins and shear zones sampled at surface do persist to significant depths.

“We are very encouraged by these results, especially given the presence of strong EM conductors located close to the high-grade intersections.

“These EM plates provide an immediate target for follow-up drilling which could help us to vector into the most conductive and potentially highest grade areas of the mineralisation.

“We look forward to this next phase of work, which will commence shortly with the drill rig currently being mobilised back to Lillymay.”

Email: info@syndicatedmetals.com.au

Website: www.syndicatedmetals.com.au

THE DRILL SERGEANT: Laconia Resources (ASX: LCR) has received formal permission to drill (Ordene Initio) on the company’s Kimsa Orcco project in Peru.

The company has been granted permission to drill by the Peruvian regulator, the Ministry of Energy and Mines (MINEM) in Directoral Resolution Nº 0106-2014-MEM/DGM.

 

Location of tenements and prospects. Source: Company announcement

 

The nod from the government department follows Laconia gaining all of the necessary environmental approvals and Social Licence over the immediate area of impact of the Kimsa Orcco project, which comprises its 100 per cent-owned Patacancha tenements and the contiguous Huaco Cucho tenements, over which Laconia has an option to earn an 80 per cent indirect interest.

Laconia has commenced exploration activities have commenced with sampling and geological mapping programs currently in progress.

“This is a great result for the Laconia, opening up an enormous exploration opportunity and we now look forward to ongoing exploration and testing our high-grade copper drilling targets,” Laconia Resources managing director Ian Stuart said in the company’s announcement to the Australian Securities Exchange.

“The sheer size and quality of the project has driven Laconia to persevere in challenging market conditions to work constructively with local community groups in a manner that provides a sustainable working relationship that will reward both the patience of shareholders and all other stakeholders.”

Laconia has confidence in its ongoing systematic review of historical sample and drill data, as well as interpretation of ‘state of the art’ satellite alteration data, which the company said has indicated a fully intact high-sulphidation copper-gold-silver system with potential for an underlying mineralised copper porphyry system or associated deposits.

The company has secured access to the entire Ccarhuaraso Epithermal System through the Kimsa Orcco project via its 100 per cent interest the Patacancha tenements and its indirect interest in the Huaco Cucho tenements (seven-year opt ion to earn up to 80 per cent).

Email: info@laconia.com.au

Website: www.laconia.com.au

THE DRILL SERGEANT: St George Mining (ASX: SGQ) is close to starting Phase 1 of the 2014 drilling program to be undertaken at the company’s 100 per cent-owned East Laverton Property with drilling planned to commence in mid-May 2014.

The company said the drilling program will test a number of high quality EM (electromagnetic) conductors located on the Stella Range belt.

The EM conductors are situated within a section of a belt where St George previously identified nickel sulphide in three RC drill holes – DRAC35, DRAC38 and DDNRC002.

 

TMI (Total Magnetic Intensity) RGB plan map with location of
modelled EM conductors along a high-priority section of the Stella Range
belt that hosts the Desert Dragon North, Desert Dragon and Windsor
nickel prospects. The DDN1 conductor is now modelled as two plates –
DDN1A and DDN1B. Source: Company announcement

The company believes these spaced intersections demonstrate the presence of several nickel-rich mineral systems within this section of the Stella Range belt.

“The presence of known nickel sulphide mineralisation increases the potential for the EM conductors to be massive nickel sulphide deposits,” St George Mining said in its ASX announcement.

“The drill campaign is the company’s first ever test drilling of EM conductors along the Stella Range belt, and offers an excellent opportunity for a significant discovery.”

Further to the upcoming drill program, St George explained an EM conductor it encountered at Desert Dragon North in February has subsequently been labelled as DDN1.

A FLEM survey has now been completed over the DDN1 conductor, the results from which, the company said have better defined its physical parameters.

“The forward modelling of the electromagnetic response from the FLEM survey has effectively constrained the physical location of the conductor allowing for more effective drill testing,” St George claimed.

The company’s field crew is currently completing FLEM surveys over the remaining priority EM conductors, which have been targeted for test drilling in the Phase 1 program.

Once the FLEM surveys are conducted and modelling completed, final drill hole selection for each EM target will be determined.

A MLEM survey is continuing at the Cambridge North nickel prospect on the Stella Range belt, as well as other high priority areas on the Central and Minigwal ultramafic belts.

St George anticipates this survey will generate further EM conductors that will be tested by Phase 2 of the 2014 drilling program, scheduled for the second half of the year.

Email: info@stgm.com.au

Website: www.stgeorgemining.com.au

THE DRILL SERGEANT: Sirius Resources (ASX: SIR) has identified new drill targets via ongoing exploration at the company’s Fraser Range and Polar Bear projects in Western Australia.

Centauri nickel target (Fraser Range JV – SIR 70%)

Ground electromagnetic (EM) surveying has identified a broad EM anomaly beneath the Centauri nickel-copper soil anomaly, which Sirius said coincides with the extent of the nickel-copper anomaly.

Preliminary modelling of this EM anomaly has indicated the presence of a shallow, broad, flat-lying conductor.

Crux nickel target (Fraser Range JV – SIR 70%)

A broad EM anomaly has been identified beneath the southern part of the Crux nickel-copper soil anomaly, which has been interpreted to partially coincide with the southern cluster of nickel-copper soil anomalies at Crux and is similar to that at Centauri.

Drilling is scheduled to follow the initial drill program at Centauri.

Talbot and Southern Hills soil anomalies (Fraser Range – SIR 100%)

Reconnaissance soil geochemical sampling on Sirius’ 100 per cent-owned tenements in the southern part of its Fraser Range project has identified two nickel-copper soil anomalies associated with mafic intrusions.

The Southern Hills anomaly is approximately 1.2 kilometres long and 0.7km wide and is defined by nickel values up to 200ppm and copper values up to 80ppm.

The Talbot anomaly is approximately 1.4km long and 0.8km wide and is defined by nickel values up to 200ppm and copper values up to 60ppm.

Infill sampling is ongoing.

Western Trend (Fraser Range – SIR 100% subject to shareholder approval)

Drilling on the Western Trend, located immediately to the west of the Nova -Bollinger deposits within the Nova mining lease application is aimed at defining near surface nickel-copper sulphide mineralisation intersected in previous drilling.

A deep penetration EM survey, using a high power system known as Samson, has been planned to cover the entire MLA.

A trial of this system confirmed it can detect the Bollinger deposit (which was invisible to conventional EM) at a depth of 450m.

This program is scheduled to commence in early May, and is aimed at identifying EM conductors at depths of up to 600m – over twice the depth penetration range of the conventional EM undertaken so far.

 

The Nova mining lease application area showing the Western
Trend, where drilling has recommenced to follow up previous
intersections of nickel mineralisation. Source: Company announcement

 

Nanook gold prospect and reconnaissance drilling (Polar Bear – SIR 100%)

Reconnaissance drilling is underway at the Nanook gold prospect to tighten up drill spacing from 200m spaced lines to 100m spaced drill lines.

Only a few results have been received from this drilling, including:

16 metres at 1.17 grams per tonne gold from 40 metres, including 4 metres at 3.16 grams per tonne gold from 44 metres in SPBA1474;

4m at 4.93g/t gold from 40m in SPBA01475; and

4m at 2.32g/t gold from 44m, and 10m at 1.03g/t gold from 60m (to end of hole), including 4m at 2.33g/t gold from 64m in SPBA01476.

First pass broad spaced reconnaissance drilling of targets at the Polar Bear project has returned intercepts of:

4m at 6.29g/t gold from 24m in SPBA1102;

4m at 1.1g/t gold from 56m in SPBA1153; and

20m at 1.35g/t gold from 4m, including 4m at 2.11g/t gold from 4m in SPBA1379.

Sirius indicated its next stage of infill drilling will resume in May.

Email: admin@siriusresources.com.au

Website: www.siriusresources.com.au