Tiger Resources meets Kipoi 2013 copper guidance

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THE DRILL SERGEANT: Tiger Resources (ASX: TGS) has informed the market it achieved its 2013 production guidance of 41,000 to 43,000 tonnes of copper-in-concentrate at the company’s Kipoi copper project in the Democratic Republic of Congo (DRC).

Tiger said it produced 41,255 tonnes of copper for the 12 months to 31 December 2013 at the Stage 1 heavy media separation (HMS) plant at Kipoi.

“For the plant to achieve our updated production guidance of more than 41,000 tonnes – exceeding our initial guidance by more than 4,000 tonnes – is extremely satisfying and is testament to the commitment of our staff on the ground as well as our management team,” Tiger Resources managing director Brad Marwood said in the company’s announcement to the Australian Securities Exchange.

“The HMS has been operating well above nameplate capacity for most of 2013.”

Tiger’s 2014 production guidance for the HMS plant at Kipoi is 39,000t of copper in concentrate, up 85 per cent from the original guidance of 21,000t.

The HMS plant’s average operating cash cost for 2014 is forecast to be $0.30 per pound of copper produced.

Tiger also declared its Stage 2 solvent-extraction electro-winning (SXEW) plant at Kipoi is on schedule to commence production of copper cathode in Q2 2014.

The company anticipates producing 25,000t of copper cathode in the first full 12 months of production at the SXEW plant, and 50,000t per year from then on.

Email: tiger@tigerez.com

Website: www.tigerresources.com.au

Image Resources identifies potential Boonanaring augmentation

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THE DRILL SERGEANT: Image Resources (ASX: IMA) has identified, what it considers to be, potential multiple extensions north of the company’s 10.5 kilometre strike length high-grade Boonanarring mineral sands Reserves.

The Boonanarring Reserves form part of Image’s North Perth Basin project (NPB project).
Image claims the current Boonanarring Reserves contain amongst the highest in ground value per tonne of mineral sands in the world at 8.3 per cent heavy minerals (HM), with 24.5 per cent of the HM consisting of zircon.

The company considers any potential strike or resource extensions at Boonanarring would therefore add economic value to the NPB project.

Image recently completed magnetic mapping between Boonanarring and its Red Gully project, from which it has identified magnetic features it suspects may host potential extensions to both the high-grade Boonanarring Eastern Strand and the medium-grade Western Strand.

“These new targets represent a real opportunity for Image which we are keen to test further,” Image Resources managing director Peter Davies said in the company’s announcement to the Australian securities Exchange.

“Should the targets…be later converted to JORC Resources, this may enable Image to further improve the already strong economics of the NPB project through a combination of longer mine life at Boonanarring, higher production rates or greater opportunity for optimised grade scheduling.

“The potential for the Boonanarring mineralisation to extend north to our Red Gully project is also something that we are continuing to test.”

 

Boonanarring Resource and Conceptual Extensions from Magnetic survey Interpretation. Source: Company announcement

 

Image has identified a total of three undrilled magnetic targets to the north and west of Boonanarring.

The company explained the newly-delineated targets have similar characteristics to those of the currently defined Boonanarring Resource, which it considers to augur well for a follow up drilling program it has scheduled for the first half of 2014.

Prior to finalising the next drill program, Image has some infill ground magnetic surveying planned to better define these new targets.

Email: admin@imageres.com.au

Website: www.imageres.com.au

Gold Road confirms consistency of Gruyere

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THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) has received assay results for the remaining 25 drill holes from a program of reverse circulation (RC) drilling the company carried out at its Gruyere prospect, located on the Dorothy Hills Trend in Western Australia.

Gold Road claims gold mineralisation was encountered from 22 of those holes.

The drilling comprised 27drill holes for 3,319 metres, of which assays from two holes (13GYRC0038 and 13GYRC0053) were reported in December 2013.

Highest individual one‐metre assays received included:

1 metre at 8.74 grams per tonne gold from 41 metres (13GYRC0061);

1m at 7.36g/t gold from 30m (13GYRC0042);

1m at 6.7g/t gold from 130m (13GYRC0048);

1m at 6.03g/t gold from 23m (13GYRC0063); and

1m at 5.6g/t gold from 70m (13GYRC0064);

 

Gruyere plan projection illustrating interpreted geology and
significant intersections (0.5g/t gold cut‐off, minimum 2m thickness)
(Hole GYRC0053) results reported in December 2013. Source: Company
announcement

 

“We continue to be very encouraged with the rapid growth of the Gruyere gold system since its discovery in October 2013,” Gold Road Resources executive chairman Ian Murray said in the company’s announcement to the Australian Securities Exchange.

“We made an aggressive call to step‐out the drilling by 500 metres in the December 2013 drilling program and shareholders have been rewarded with the highest‐grade, broad gold interval drilled to date at Gruyere (30m at 3.5g/t).

“The latest drilling program is testament that the gold mineralised system continues with good grades and widths to the north.

“We look forward to testing this gold system further to both the north and south.”

Gold Road indicated it intends conducting further RC drilling this year to delineate a consistent 100m section spacing over the 1,100m strike length of the main discovery area.

Drilling will also follow‐up on high‐grade mineralisation the company intersected in drill hole 13GYRC0053 (Section N) to determine the geometry of mineralisation at this location.

Gold Road also has a program of diamond drilling scheduled to commence in 2014 targeting known mineralised locations to provide additional information to improve its current understanding of the prospect geology.

Email: perth@goldroad.com.au

Website: www.goldroad.com.au

Buxton Resources hits big graphite at Yalbra

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THE DRILL SERGEANT: Buxton Resources (ASX: BUX) has received results from a RC drilling program it recently-completed at the company’s Yalbra graphite project, located east of Gascoyne Junction in Western Australia.

The drilling at Yalbra consisted of 15 RC drill holes for a total of 1,674 metres and was conducted in November 2013.

Drilling completed within the Main Zone of the project intersected widths of high-grade graphite mineralisation across multiple parallel zones.

 

Map across Main Zone at Yalbra showing substantial intercepts of
very high-grade graphite and simplified geology. Source: Company
announcement

 

Higher grade drilling results include:

YBRC001 – 32 metres at 23.4 per cent total graphitic carbon (TGC) (from 55 metres), including 7 metres at 32.6 per cent TGC;

YBRC002 – 14m at 22.3 per cent TGC (from 75m) including, 6m at 26.8 per cent TGC;

YBRC011 – 14m at 21.5 per cent TGC (from 45m) including, 5m at 33 per cent TGC;

YBRC012 – 31m at 22.9 per cent TGC (from 19m) including, 5m at 30.2 per cent TGC; and

YBRC015 – 31m at 22.5 per cent TGC (from 158m) including, 6m at 33 per cent TGC.

Buxton declared it considers the latest results from Yalbra to be the highest grade graphite drill intercepts reported in Australia.

The company explained further petrographic studies have shown substantial portions of medium and coarse flake graphite occur in the samples.

Buxton indicated it has observed graphite flakes generally range from 100 to 500 microns long and in some cases reach over 1mm in length.

“We are extremely pleased with these Yalbra drilling and petrographic results, both of which have far exceeded the company’s expectations,” Buxton Resources managing director Anthony Maslin said in the company’s announcement to the Australian Securities Exchange.

“This drilling program has demonstrated both very high grades and significant thicknesses across multiple parallel zones of mineralisation whilst the petrographic study has shown a significant portion of medium and coarse flake graphite.

“These results open up numerous possibilities for the Yalbra graphite project and pave the way for Buxton to begin advancing Yalbra both technically and strategically.

“These results come as great news as we are about to imminently embark on drilling at Buxton’s lead project – the Zanthus nickel-copper project.”

Email: info@buxtonresources.com.au

Website: www.buxtonresources.com.au

Antofagasta commits to Encounter Resources’ Yaneena project

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) has kicked off the New Year in style with conformation from one of the world’s largest copper producers, Antofagasta, that it will be continuing the Yeneena earn-in agreement into a second year.

“Following a series of positive exploration results in the first year of the earn-in agreement we are delighted that Antofagasta has extended into the second year,” Encounter Resources managing director Will Robinson said in the company’s announcement to the Australian Securities Exchange.

“We look forward to working with Antofagasta in escalating exploration activity in 2014.”

Encounter signed the earn-in agreement in April last year with a wholly owned subsidiary of Antofagasta.

Under that agreement, Antofagasta may earn a 51 per cent interest in two tenements within the Yeneena project by incurring expenditures of US$20 million over a five year period.

 

Yeneena project leasing and targets areas. Source: Company announcement

Encounter is, no doubt, happy to hear Antofagasta intends continuing the earn-in agreement at Yeneena into the second year.

Antofagasta is required to spend a minimum of US$4 million in the second year to maintain the earn-in.

The second year of the earn-in commences in April 2014 and Encounter indicated the majority of the year-two expenditure will be completed in the upcoming field season during April to November.
 
In the first year of the earn-in agreement Antofagasta is funding a US$3 million exploration program at Yeneena.

Exploration programs carried out so far under the earn-in agreement have basically tripled the footprint of the regolith copper anomaly at BM7.

They have also achieved the highest grade primary copper sulphide intersection at the project.

Encounter explained the continuation of the Antofagasta earn-in ensures a highly active and fully funded exploration program of diamond, RC and aircore drilling in 2014.

Exploration at Yeneena will recommence following the completion of the summer cyclone season, which is generally around March/April.

Email: contact@enrl.com.au

Website: www.enrl.com.au

 

Trafford claims confirmation of tin discovery

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THE DRILL SERGEANT: Trafford Resources (ASX: TRF) has received results of diamond drill hole 13ZLDH001, which was drilled in late December, 2013 at the company’s Zealous tin prospect, at Wilcherry Hill in South Australia.

The wide diameter diamond hole was the first hole of a current 1500m drill program Trafford announced it was commencing late last year.

Results from hole 13ZLDH001 included 12.3 metres at 1.10 per cent tin from 119 metres, including 1.3m at 4.8 per cent tin.

Trafford explained the hole was drilled to intersect the down dip extension it had encountered with its first discovery hole, which returned 7m at 3.28 per cent tin from 52m, including 1m at 6.81 per cent tin in hole 12ZLRC007.

Trafford claims it is confident it has discovered a near surface, high-grade tin deposit with a total of four high-grade intercepts defining a strike extent of over 200m extending from surface to a vertical depth of approx. 100m.

 

Position of drill holes defining high-grade tin intercepts at Zealous prospect. Source: Company announcement

 

The extent of the body remains open in all directions.

“High grade, near surface hard rock tin deposits are rare and grades reported in projects targeted for open pit development are generally less than 0.5 per cent tin,” Trafford Resources said in its ASX announcement.

“Drilling at Zealous is producing consistent plus-1 per cent tin intersections with widths in excess of five metres.”

The company alluded to the demand for tin worldwide, which it said is growing steadily.

According to Trafford the forecasted decrease in production of tin from alluvial mining and the limited number of new developing mines has tin achieving the highest price amongst the mainstream London Metal Exchange (LME)-traded metals at a prevailing price of around $21,700 per tonne.

“A combination of these facts makes this maiden discovery by Trafford a very important target for further exploration and development,” the company said.

“Wide diameter HQ diamond core has been drilled in order to obtain samples for metallurgical test work.

“Initial mineralogy identified Cassiterite as the main tin bearing mineral which may be concentrated by gravity separation.”

Trafford has drilling of an additional 1300m of reverse circulation (RC) drilling scheduled to commence on 12 January, 2014.

The company anticipates results by the end of February 2014.

Website: www.traffordresources.com

Syndicated Metals confirms expansion of Barbara open pit

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THE DRILL SERGEANT: Syndicated Metals (ASX: SMD) has been encouraged by results it has received from in-fill and extensional drilling completed at the company’s Barbara copper-gold project in northern Queensland.

The company said the latest results confirmed the strength of the mineralisation within the Southern Shoot as well as highlighting the potential of the emerging Fault Gap area in the central part of the proposed Barbara open pit.

Syndicated has taken receipt of all outstanding assay results from a 45-hole in-fill and extensional RC drilling program completed prior to Christmas with best results including:

27 metres at 1.73 per cent copper, including 11 metres at 2.88 per cent copper in BARC112 (Southern Shoot);

14m at 2.17 per cent copper in BARC107 (Southern Shoot);

16m at 0.69 per cent copper, including 3m at 2.02 per cent copper in BARC118 (Fault Gap); and

6m at 2.52 per cent copper in BARC113 (Fault Gap).

The company indicated new deep intersections in the Fault Gap area support previous results including 14m at 1.72 per cent copper and 20m at 1.48 per cent copper.

Syndicated consider the latest results to confirm this area is continuously mineralised at depth.

Before the Christmas break Syndicated announced agreement with its joint venture partner CopperChem Limited to resume drilling at Barbara in late January.
 
The Barbara JV is a 50/50 joint venture with CopperChem, which is funding the Feasibility Study for the development of Barbara as part of its earn-in requirements.

“Last year’s drilling was extremely successful and highlighted the significant upside potential of the Barbara project,” Syndicated Metals managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“Of particular note are the thick intersections encountered outside the current open pit boundaries at depth within the Fault Gap area – which could underpin a significant expansion of the open pit.

“Other positives from last year’s drilling include confirmation of the shallow nature of the oxidized boundary particularly above the Southern Shoot and confirmation of high-grade mineralisation below the Northern Shoot – all of which illustrate the outstanding potential of this project.

“We are now able to progress with the remaining drilling and technical work for the project commencing this month, subject to continued access and weather conditions, with upcoming work programs covering water production, geotechnical and metallurgical drilling as well as follow-up work to further evaluate the Fault Gap area and the potential northern extension of Barbara.

“The New Year will also see our maiden exploration programs begin at significant depth below Barbara which will guide our thinking around the ultimate potential for underground mining of the deposit below the Barbara open pit mine.

“This should ensure a continued strong flow of news and results for Syndicated during the traditionally quieter wet season period – which is great news for our shareholders as we continue to build momentum in our quest to join the ranks of Australian copper producers over the coming year.”

Email: info@syndicatedmetals.com.au

Website: www.syndicatedmetals.com.au

Santa delivers new nickel discoveries for Rox Resources

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) has encountered massive, matrix and disseminated nickel sulphide mineralisation while conducting a Reverse Circulation (RC) drilling program on two new prospects at the company’s Fisher East nickel sulphide project, north of Kalgoorlie in Western Australia.

The company carried out visual logging and portable XRF analyser readings, which its claims has confirmed the presence of fresh nickel sulphide mineralisation in a number of drill holes at the Cannonball and Musket prospects.

 

Cannonball-Musket prospects and drill intercept locations. Source: Company announcement

 

The results have determined each mineralised zone to be over 200 metres in strike length.

At Musket a number of RC holes returned portable XRF analyser results of:

8 metres at 1.4 per cent nickel from 55m downhole in hole MFEC036;

6m at 2.3 per cent nickel from 129m downhole in hole MFEC040;

3m at 2.9 per cent nickel from 129m downhole in hole MFEC037, including
1m at 5.1 per cent nickel from 129m; and

13m at 2.2 per cent nickel from 176m downhole in hole MFEC048, including
6m at 3.0 per cent nickel from 179m.

At Cannonball a number of RC holes drilled in the vicinity of a previous aircore hole (FEAC149 that returned assays of 3m at 3.42 per cent nickel) returned portable XRF analyser results of:

5m at 2.7 per cent nickel from 114m downhole in hole MFEC042, including 2m at 4.7 per cent nickel from 114m;

2m at 3.1 per cent nickel from 128m downhole in hole MFEC043;

3m at 2.3 per cent nickel from 84m downhole in hole MFEC045; and

4m at 3.3 per cent nickel from 159m downhole in hole MFEC049, including 1m at 4.9 per cent nickel from 159m and 1m at 5.4 per cent nickel from 162m.

“These outstanding results of two more nickel sulphide discoveries confirm our belief that we are dealing with a whole new mineral field and not just an isolated deposit at Fisher East,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We will now follow-up these results with diamond drilling to evaluate these new discoveries which are anticipated to add to the mineral resource inventory for a combined Camelwood–Cannonball-Musket project.

“It should be noted that these initial RC results at Cannonball and Musket exceed the thickness and grade of the results we achieved at Camelwood in the early stages there.”

Email:
admin@roxresources.com.au

Website:
www.roxresources.com.au

Romang Island continues to deliver for Robust Resources

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THE DRILL SERGEANT: Robust Resources (ASX: ROL) has received assay results from five diamond drill holes from recent drilling at the Perak Basin VMS target, within the company’s Romang Island project in Indonesia.

According to Robust each hole intersected precious metals and base metals with the most encouraging results coming from drilling on the open western side of the Perak Basin.

Two holes, LWD 385 and LWD 390, were drilled in this area.

Results from LWD 385 included high-value VMS exhalative style mineralisation, returning:

7.4 metres at 4.58 grams per tonne gold equivalent and 2.99 per cent combined base metals from 12.6m (1.97g/t gold, 138g/t silver, 0.08 per cent copper, 2.9 per cent lead, 0.02 per cent zinc).

Located 80m south-east of LWD 385, LWD 390 intersected higher grades of:

7.2m at 14.1g/t gold equivalent and 5.56 per cent combined base metals from 18.8m (0.77g/t gold, 707g/t silver, 0.14 per cent copper, 3.11 per cent lead, 2.41 pe cent zinc);

Including a high-grade zone of:

2m at 34.84g/t gold equivalent and 14 per cent combined base metals from 23m (0.41g/t gold, 1,825g/t silver, 0.33 per cent copper, 7.55 per cent lead, 6.12 per cent zinc).

 

Map showing location or recent drillholes in the Perak Basin (red
dots) with most significant results shown. Source: Company announcement

 

Robust Resources said it considers the results, when combined with previous results and geological logging of holes where assay results are awaited, indicate the western flank of the Perak Basin remains open for further discovery.
 
The company claimed high-grade manganese mineralisation was also encountered in Perak Basin during the recent round of drilling, intersecting zones grading more than 40 per cent manganese.
 
The company said drilling and data compilation remains on track for completion of a new Romang Island mineral resource estimate by first quarter CY2014.

Additional drilling to extend this resource will be the focus of Robust’s 2014 drilling campaign.

“As the 2013 drilling year on Romang Island draws to a close, it is an opportune time to reflect on our achievements during the past 12 months,” Robust Resources managing director Gary Lewis said in the company’s announcement to the Australian Securities Exchange.

“The company has made significant progress in achieving its aims of commercialising our discoveries on Romang Island.

“We have:

Completed the maiden independent JORC mineral resource estimate of our high-grade manganese deposits;

Discovered the exciting high-value Perak Basin VMS deposit;

Discovered the ultra-high-grade Batu Mas Deeps polymetallic sulphide deposit;

Completed record diamond drilling for any year of over 12,000 metres;

Significantly advanced the geological understanding and orebody models; and

Reformulated the development strategy to a low-risk, low CAPEX pathway based on high-grade mineral deposits and commenced execution of that strategy.

“2014 should be a watershed year for Robust and I look forward to sharing more excellent results including a mineral resource update for Romang Island in the early part of the year.”

Email:
info@robustresources.com.au

Website:
www.robustresources.com.au

Pacifico Minerals to acquire Berrio gold deposit in Colombia

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THE DRILL SERGEANT: Pacifico Minerals (ASX: PMY) has signed a binding Heads of Agreement to acquire an interest in the Berrio gold deposit in Antioquia, Colombia.

The Berrio project is situated in the southern part of the Segovia Gold Belt, which the company described to be characterised by a number of operational, artisanal-scale adits, tunnels, and inclines.

“We are extremely pleased with the acquisition and of course we are extremely excited by the results of the underground channel sampling program,” Pacifico Minerals managing director Simon Noon said in the company’s announcement to the Australian Securities Exchange.

“This sampling program has confirmed the very high-grade nature of the main vein mineralisation as suggested by anecdotal evidence from the existing artisanal operations as well as confirmation of good grades in parallel mineralised zones.

 

Highlights of tunnel sampling program. Source: Company announcement

 

“One channel sample identified a significant high grade of 64 grams per tonne gold over a 10 metre channel sample in the El Bus mine which is centrally located on the tenements.

“Our sampling program has also confirmed a lower grade gold envelope in a mineralised stockwork which surrounds the high grade core.

“Additionally, we are very excited to note that the Segovia Batholith granodiorite country rock also produced important gold results.”

Pacifico explained it has already completed a first-pass technical program including the collection of underground channel samples from existing artisanal mine workings, which it claims has confirmed mineralisation consists of structurally controlled, steeply-dipping, auriferous veins comprised of quartz-pyrite.

The program has also indicated the presence of several areas of gold mineralisation over considerable widths.

The company said gold mineralisation has been confirmed in several geological environments on the property.

This has occurred in multiple vein sets containing high-grade gold mineralisation with numerous wide (10m) channel sample intersections returning over 10g/t gold with the maximum of 64g/t gold over a 10m sample width.

“Clearly, with the identification of multiple, mineralized veins on the property, there is a considerable amount of additional exploration required to fully understand the economic significance of gold mineralisation at Berrio,” Noon said.

 

 

Email:
admin@pacificominerals.com.au

Website:
www.pacificominerals.com.au