Cygnus Metals Declares “Spectacular” Rock Chip Results from Pegasus

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THE DRILL SERGEANT: Cygnus Metals (ASX: CY5) reported on recent surface rock chip activity undertaken at the company’s Auclair lithium project in James Bay, Quebec.

Cygnus Metals declared the results achieved from the project’s recent Pegasus and Lyra pegmatite discoveries as “spectacular”.

The company described Pegasus and Lyra as two newly discovered areas with spodumene-bearing pegmatite outcrops that are only 1.7 kilometres apart and demonstrate scale to be, “potential major lithium discoveries”.

The recent rock chip results from Pegasus include grades of 6.6 per cent lithium oxide (Li2O), 5.5 per cent Li2O, 5.3 per cent Li2O, 4.6 per cent Li2O, 2.2 per cent Li2O, 1.8 per cent Li2O, 1.5 per cent Li2O, and 0.7 per cent Li2O.

Results from rock chips from Lyra include 6.7 per cent Li2O and 2.0 per cent Li2O.

Cygnus has interpreted the high-grade results to highlight Auclair to be a highly fertile system with lithium mineralisation now identified over 6km to date between the Auriga, Lyra and Pegasus discoveries.

“Pegasus and Lyra represent outstanding drilling targets with immense potential given their favourable location to infrastructure, their grade and outcrop size,” Cygnus Metals managing director David Southam said in the company’s ASX announcement.

“Our aim is to expand on the mineralised footprint at surface by drilling at depth and along strike, while potentially linking up these two outcrops which may be part of one large continuous dyke.

“Pegasus is on track to be drilled in January.

“This will be followed by drilling at Lyra, where the results already show that the system we have been targeting at Auclair is extremely fertile.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Lithium Energy Scores High Marks for Burke Graphite Battery Anode Material Testwork

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THE DRILL SERGEANT: Lithium Energy (ASX: LEL) announced “excellent” spheronisation and purification testwork results with graphite concentrate produced from the company’s Burke graphite project in north-west Queensland.

Lithium Energy said the results, although hard to pronounce, would provide key design criteria metrics to enable the company to progress the Battery Anode Material (BAM) Facility component of its current Pre-Feasibility Study (PFS).

The completed BAM testwork has defined the process flowsheet requirements to produce high purity 99.97 per cent Total Graphitic Carbon (TGC) spheronised graphite material, which will be suitable as feedstock for the battery anode making process.

“The exceptional results of the BAM testwork conducted on the 95 per cent TGC Burke graphite concentrate have surpassed expectations,” Lithium Energy executive chairman William Johnson said in the company’s ASX announcement.

“The development of a flowsheet that supports a two-product strategy, along with the exceptional purity of the final spherical purified graphite of 99.99 per cent TGC, underpins the quality of the Burke graphite and supports the vertically integrated BAM strategy Lithium Energy is implementing.

“We anticipate that the restrictions placed on graphite exports by China will further tighten the market and accelerate the demand for natural graphite, which is a key battery anode material required in all lithium-ion batteries.

“Given the high-quality BAM results from the Burke graphite deposit, the overall metallurgical characteristics and favourable location in North-West Queensland, the Burke graphite project is very well positioned to take advantage of this expected massive growth in demand for battery anode material.

“We are excited to be taking this next step in the advancement of Burke and to be playing an important role in supporting the decarbonisation of the world.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Moho Resources Confirms Thick, High-Grade Clay-Hosted REE at Peak Charles

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THE DRILL SERGEANT: Moho Resources (ASX: MOH) reported assay results from recent reconnaissance aircore drilling undertaken at the company’s Peak Charles project north of Esperance in Western Australia.

Moho Resources explained the objective of the phase 2 drill program was to test the continuation of clay basin hosted rare earth elements mineralisation, which it had identified between three different prospects during the first phase of drilling.

Of the 43 phase 2 aircore drill holes completed, 81 per cent returned assays greater than 300ppm total rare earth oxide (TREO) and 35 per cent returned assays greater than 750ppm TREO.

TREO results returned from the Top Block prospect demonstrated large thicknesses of high-grade clay-hosted mineralisation (grades below based on 300ppm TREO cutoff), including:

PPAC095
56 metres at 1,023ppm TREO from 24m, including 18m at 1,470ppm TREO;

PPAC094
40m at 689ppm TREO from 30m, including 6m at 1,057ppm TREO;

PPAC096
21m at 1,056ppm TREO from 24m, including 8m at 1,528ppm TREO; and

PPAC097
18m at 971ppm TREO from 20m, including 6m at 1,185ppm TREO.

“The second phase of Outstanding Total Rare Earth results from Peak Charles with large thicknesses of clay hosted rare earth mineralisation over 1.4 kilometres is a fantastic outcome for the company’s critical minerals strategy,” Moho Resource managing director ralph winter said in the company’s ASX announcement.

“With positive landholder relationships being cultivated the company is perfectly situated to take advantage of the burgeoning clay hosted rare earth province near Esperance and now has multiple targets to expand across the project.”

Moho’s next activity is to include a passive seismic survey over the Top Block prospect to define the extent of the Top Block clay basin as well as aircore drilling at Rollond East prospect and road reserve access drilling around the Gimli prospect.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Sunshine Metals Gold Hit Confirms Liontown Feeder Zone

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THE DRILL SERGEANT: Sunshine Metals (ASX: SHN) reported on recent drilling activity at the Liontown prospect within the company’s Ravenswood Consolidated project in North Queensland.

Sunshine Metals announced it has intersected multiple high-grade gold zones in the first of 12 RC holes at the Liontown prospect, which it has interpreted to be gold and copper rich feeder zones to the project’s overlying 2.3 million tonne zinc-gold-copper VMS Resource.

The company declared the assays from the first hole into this zone as ‘exceptional’, adding they validate the new Main Feeder concept:

23LTRC002
2 metres at 8.99 grams per tonne gold from 20m
1m at 4.54g/t gold from 42m, and
17m at 22.14g/t gold from 67m, Including 6m at 58.74g/t gold from 68m.

“The stunning intercepts at Liontown are a great reward for the solid geological work completed by the team,” Sunshine Metals managing director Dr Damien Keys said in the company’s ASX announcement.

“The decision was made to target the gold-copper rich footwall and feeder zones to the Liontown Resource with a high impact, shallow RC program.

“The feeder zones have not been recognised by past explorers and are often difficult to target.

“We have also completed a shallow diamond hole into the feeder target, approx. 30 metres west of the intercept in 23LTRC002.

“The diamond hole will yield critical structural orientation data, which will be used to target the feeder to the north of the current Liontown Resource.

“The identification of the likely feeder zone has given us confidence in our novel approach.

“It also suggests that there are possibly two further feeder zones that are poorly drill tested.

“One coincides with the historic Carrington gold workings and the second is potentially located in the under drilled Gap Zone between Liontown and Liontown East.

“The find presents a new opportunity to rapidly grow the gold and copper inventories at the Liontown Resource and validates a means of hunting these feeder zones at other VMS prospects nearby including Waterloo and Orient.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Lefroy Exploration Gets Mt Martin Resource Extension Drilling Underway

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) has started resource expansion drilling at the company’s Mt Martin Gold Mine outside Kalgoorlie in Western Australia.

Lefroy Exploration explained this drilling is to be the first new exploration undertaken at Mt Martin in over ten years and will entail some 37 reverse circulation (RC) drill holes planned to evaluate multiple shallow west dipping gold mineralised structures over a 1000m strike length.

The company has interrogated limited shallow historic drilling, from which it has ascertained there to be multiple mineralised shear structures outside the open pit that remain largely untested, including the Adelaide Shear.

This program is designed to extend known mineralised shear zones outside the historic mine workings and deliver additional gold resources for open pit mine development planning.

This program is expected to be completed within three weeks with initial assay results anticipated to be returned in early December, and final results in January 2024.

“We are thrilled to kick off our maiden resource drilling program at the Mt Martin Gold Mine located within Location 45 where we recently acquired the mineral rights over this freehold property,” Lefroy Exploration managing director Wade Johnson said in the company’s ASX announcement.

“Mt Martin contains a significant gold resource beneath the open pit that has remained undrilled for almost 10 years and that presents an opportunity for near term development.

“Our aim is to rapidly assess and grow the resource to pursue restart of the mine as the gold price continues to strengthen.

“We are fortunate to have several major gold mines neighbouring Mt Martin and believe this provides potential options to rapidly realise value from this asset, in addition we have developed a strong exploration framework to significantly grow the resource.”

 

 

Magnetic Resources Increases Laverton Gold Resources

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THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) continued to demonstrate its gold credentials have no sign of slowing down with the release of updated Mineral Resource Estimates (MRE) from deposits in the company’s Laverton and Homeward Bound South projects in Western Australia.

The main deposits contributing to the MRE include Hawks Nest 9 (HN9), Lady Julie Central (LJC), Lady Julie North 4 (LJN4), Mount Jumbo and Homeward Bound South, which are all located in an area with regional infrastructure including three processing plants within 35kms.

Total Mineral Resources reported for the Laverton and Homeward Bound South projects is now 22.7 million tonnes at 1.69 grams per tonne gold at 0.5g/t gold cut-off totalling 1,236,000 ounces of gold.

The company suggested it considers the cutoff grade appropriate for a large-scale open pit operation.

“The Lady Julie North 4 Resource has been the prime drilling focus as reported in periodic releases to the ASX,” Magnetic Resources managing director George Sakalidis said in the company’s ASX announcement.

“It has multiple stacked lodes with a number of thick intersections that have not been closed off at depth.

“The initial deeper drilling started on the 25 January 2023 and has expanded in subsequent months to a 95-hole RC program for 16,356m.

“Drilling is continuing, with holes in excess of 400m depth, which is expected to increase the current resource at LJN4 of 13.1 million tonnes at 2.02 grams per tonne gold for 852,000 ounces at a 0.5g/t cut off.

“This LJN4 deposit sits within a regional structure called the Chatterbox Shear Zone that extends over a 12 kilometres length within the Magnetic tenements.

“This shear extends southwards of LJN4 and has had initial AC and RC drilling completed and some anomalous intersections that will be followed up with some shallow RC drilling for the purpose of finding further gold deposits.

“Drilling in the last six months included diamond drill holes for geotechnical evaluation of proposed pits, and for hydrology analysis.

“Project environmental, heritage and technical background studies are close to completion – optimisation and pit design has commenced on LJC and the expanded LJN4 – the aim is to prepare and submit a Mining Proposal in early 2024.

“Other strategic opportunities are also being investigated.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Alchemy Resources Kicks Off Lake Rebecca Lithium Hunt

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THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) is the latest company to join the ranks of the ‘we’re not going to miss out if there’s a sniff of lithium’ companies by commencing lithium exploration programs on its Lake Rebecca projects in Western Australia.

Alchemy Resources is currently progressing project wide soil geochemistry programs, which it expects to have finished by the end of November 2023.

The soil geochemistry comes on the heels of recent field reconnaissance undertaken by Alchemy as well as a detailed geochemical review of lithium prospectivity that led to a decision to conduct regional soil sampling to assess the potential of all project areas at Lake Rebecca.

It is not surprising exploration for lithium has not been historically carried out, with the majority of the tenure having only ever been explored for gold, due mainly to its proximity to areas of gold production.

Previous soil sampling carried out by Alchemy on the southern areas at Middle Tank prospect identified lithium in soils anomalism.

“Alchemy was very encouraged by the first round of soil sampling at Middle Tank prospect, so the decision was made to cover the rest of Lake Rebecca to assess the lithium potential,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“The regional soils program will give us a broad picture of lithium anomalism and will help generate targets for our 2024 exploration campaign.

“We are excited to have boots on the ground with the soil sampling well underway at Lake Rebecca.

“At the same time we are preparing to test our Karonie lithium caesium tantalum (LCT) Pegmatite targets and hope to commence drilling in early December 2023.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Eagle Mountain Mining Increases Oracle Ridge Mineral Resource Estimate

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) has completed a new Mineral Resource Estimate (MRE) on the company’s 100 per cent-owned Oracle Ridge copper project in Arizona, USA.

Eagle Mountain Mining completed the new MRE using the revised geological model that was completed by incorporating drilling and channel sampling data acquired since the October 2022 resource update.

The company consider this revised geological model better reflects the style of mineralisation observed from the new data and underground mapping.

The revised MRE for Oracle Ridge has increased substantially to 28.2 million tonnes at 1.35 per cent copper, 11.06 grams per tonne silver and 0.16g/t gold using a 0.8% copper cut-off grade for 380,000 tonnes of contained copper.

Measured and Indicated Resources account for over half of the new MRE and better grades exist in higher confidence categories of the new MRE.

“The new Mineral Resource Estimate reflects a 27 per cent increase in contained copper on a like-for-like basis from the previous resource and is on track to surpass more than 400 thousand tonnes of contained copper,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“This update is a key milestone on our path to become a significant producer of copper, with a strong focus on low emission production.

“Our recent refurbishment of the underground mine was instrumental to this latest update, as it provided us with previously unrecognised insight into the geology and mineralisation and has confirmed the mining and processing optionality of the project.

“In particular, we see a greater opportunity for a much larger mining operation at Oracle Ridge than previously contemplated, leveraging off recent advancements in processing and mining technologies to reduce both costs and our impact on the environment.

“Our activities are currently focusing on processing pathways for a lower grade, larger tonnage operation.

“The resource remains open in multiple areas, and we are confident that further resources will be defined.

“We are currently assessing and prioritising resource extension targets, along with upgrades of existing Inferred resources to further de-risk production in the first five years of mine life.

“Taking all this into consideration, I am optimistic that we have the foundations to become a mid-tier copper producer at Oracle Ridge.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Aruma Resources Intersects High-Grade Gold at Salmon Gums Project

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) reported further high-grade gold intersections from the company’s 100 per cent-owned Salmon Gums project, in the Eastern Goldfields of Western Australia.

Aruma Resources’ latest phase of drilling comprised a targeted seven-hole diamond core drilling program, designed to follow-up and extend previous gold intersections encountered at the project’s Thistle prospect.

The company declared the latest assays from drilling at Salmon Gums to have confirmed a high-grade gold-bearing structure, results included:

SG23DD007
5.9 metres at 10.5 grams per tonne gold from 38.4m, including 2.6m at 9.85g/t gold from 38.4m and 0.85m at 40.9g/t gold from 43.4m; and

SG23DD003
3.65m at 1.25g/t gold from 42m, including 0.95m at 3.66g/t gold from 42.7m.

The company indicated it would use these results to define the next phase of field work and drilling at the Thistle prospect.

“The latest results from our ongoing exploration at the Salmon Gums project continue to deliver exceptional results and validate our exploration approach,” Aruma Resources managing director Glenn Grayson said in the company’s ASX announcement.

“Norseman-style mineralisation is structurally controlled and can be incredibly high-grade, and this is exactly what we are seeing at Salmon Gums, with our drilling programs continuing to deliver very high-grade gold results, which extend the high-grade mineralised zone at the project.

“Controls on this style of mineralisation are tight, making the combination of structure within the right lithology the key to exploration success.

“We will now commence planning for our next phase of drilling, to further unlock the project’s value.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Green Technology Metals Increases Seymour Resource Confidence

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THE DRILL SERGEANT: Green Technology Metals (ASX: GT1) provide a Mineral Resource Estimate (MRE) update for the company’s Seymour lithium project in Ontario, Canada.

Green Technology Metals’ latest MRE efforts have resulted in a 13 per cent increase in the indicated category for the Seymour project’s mineral resource to 10.3 million tonnes at 1.03 per cent lithium oxide (Li20).

This new figure contributes to the combined global resource base across the company’s eastern and western hubs in Ontario of 24.9 million tonnes at 1.13 per cent Li2O.

Green Technology Metals explained the revised MRE encompasses two deposits situated within the Aubry complex at Seymour, North Aubry and South Aubry where it has undertaken drilling activities to constrain the updated mineral resource.

While the revised MRE largely aligns with the company’s December 2022 Interim MRE update, Green Technology Metals said other improvements have been made, including improved geological confidence achieved through additional peripheral holes and a comprehensive geological reinterpretation from Bayside Geoscience.

“We are pleased with the mineral resource and confidence increase to our flagship Seymour project a result of a refined geological interpretation,” Green Technology Metals CEO Luke Cox said in the company’s ASX announcement.

“We eagerly anticipate further enhancements to the resource as we continue our ongoing +7,000-meter drilling program and with the commencement of drilling at the newly acquired Junior lithium project in Q1 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE