THE DRILL SERGEANT: IMX Resources (ASX: IXR) has received the latest drilling results from the company’s Ntaka Hill nickel sulphide project in south-eastern Tanzania.

IMX claims the results have confirmed the discovery of a new zone of nickel sulphide mineralisation immediately adjacent to the current resources.

The new zone, referred to as “P Zone”, lies approximately 400 metres east of the existing Zeppelin and Sleeping Giant deposits, which host the current resources at Ntaka Hill, and 700m south of ‘G’ and ‘J’ Zones.

Ntaka Hill – location of P Zone relative to current resources. Source: Company announcement

Results include:

11.4 metres at 0.51 per cent nickel and 0.15 per cent copper from 211 metres down-hole (NAD13-369);

2m at 1.1 per cent nickel from 266m and 3.4m at 1.2 per cent nickel from 272.4m down-hole (NAD13-375);

3m at 0.4 per cent nickel from 186m down-hole (NAD13-376); and

17m at 0.4 per cent nickel from 223m and 9.3m at 0.4 per cent nickel from 272.7m down-hole (NAD13-377).

Recent drilling at Ntaka Hill has been designed to test potential extensions to the
J, G, M, and P Zones to establish the broader scale and potential of the project to host a nickel sulphide system.

IMX said modelling of P Zone indicates it is potentially an up-dip extension of the mineralisation at Zeppelin and Sleeping Giant to the west and south-west.

Based on this interpretation, the joint venture believes there is potential to increase the size of the Sleeping Giant and Zeppelin resources with further drilling.

“We are particularly encouraged by the discovery of a significant new area of mineralisation at P Zone which appears to be the up-dip extension of the main deposits,” IMX Resources acting managing director John Nitschke said in the company’s announcement to the Australian Securities Exchange.

“This confirms that Ntaka Hill hosts multiple zones of mineralisation that appear to be linked and clearly have the potential to form part of a very sizeable, single deposit.

“Our work suggests that this system is approximately 1.5 kilomteres wide and remains open to the south and east.

“More drilling will be required to define the broader extent of this very large system and also to help us to vector in on higher grade zones of mineralisation within it.

“Extensive programs of ‘deep-looking’ geophysical surveys are also underway to test the broader potential of the Ntaka Hill-Lionja corridor.

“Results from this work should be available early in the New Year, providing drill targets for the 2014 drilling season.”

Exploration at Ntaka Hill is being managed and sole funded by IMX’s joint venture partner, MMG Exploration Holdings, under a US$60 million earn-in joint venture.

Email:
info@imxresources.com.au

Website:
www.imxresources.com.au

THE DRILL SERGEANT: Northern Star Resources (ASX: NST) has achieved some impressive drilling results from the recent Titan gold discovery at the company’s Paulsens project in Western Australia.

Northern Star said the results have highlighted Titan’s potential to be a high-grade deposit.

Drilling results from Titan include (uncut):

0.2 metres at 687 grams per tonne gold from 488 metres;

0.4m at 103g/t gold from 436m;

3m at 12.6g/t gold from 380m;

2.4m at 8g/t gold from 396m; and

1m at 7.7g/t gold from 370m.

Northern Star is particularly keen on the Titan results due to its location – just 100m from Paulsens, which means it could be accessed from the existing underground mine.

The company has commissioned a third drilling rig at Titan with a view to further defining the extremities of the quartz rock.

The drilling will then seek to locate the mineralisation within the quartz.

Other drilling at Paulsens has extended the known mineralisation at the Voyager 1 lode by 150m down-plunge from the current resource.

Long section view (looking North) of significant drill results for Voyager 1. Source: Company announcement

According to Northern Star the high-grade mineralisation remains open at depth and will be included in future resource upgrades, potentially extending Paulsens’ mine life.

Results achieved from the Voyager 2 lode include grades up to 132g/t gold, which Northern Star claims continue to show the potential of this lode, which the company announced in May extends down-plunge by 200m.

This high-grade mineralisation, which remains open at depth, will be included in future resource estimates.

Ore development is underway at Voyager 2 as part of the company’s strategy to mine the Voyager lodes in parallel.

“The results from both Titan and the Voyager lodes all point to the ability to continue extending Paulsens’ life well beyond the current reserve and resource estimates,” Northern Star Resources managing director Bill Beament said in the company’s announcement to the Australian Securities Exchange.

“Drilling at Titan is still in its early days but we are extremely encouraged by the outstanding grades received so far.

“At the Voyager lodes, we continue to extend the limits of the known mineralisation with high-grade results.

“With a tight lid on our costs and drilling continuing to intersect new mineralisation, we have every reason to be confident about Northern Star’s production and financial outlook.”

Email:
info@nsrltd.com

Website:
www.nsrltd.com

THE DRILL SERGEANT: Carpentaria Exploration (ASX: CAP) has expanded its gold portfolio in the Lachlan Fold Belt, having been granted the Grong Grong licence (EL 8189) near Narrandera in New South Wales.

Grong Grong adjoins Carpentaria’s Barellan tenement for a combined area of 702 square kilometres, which the company considers to be prospective for intrusion related gold systems (IRGS) and orogenic sulphide fault replacement hosted deposits.

Grong Grong EL over regional RTP aeromagnetic image. Source: Company announcement

The Grong Grong project also includes the Harry Smith prospect, where historical drilling identified a coherent gold mineralised structure.

Carpentaria said historical drill hole intersections on the same section, open down dip and along strike, provide it with a promising immediate target for drilling.

The company indicated it is focused on quickly advancing the latest addition to its gold portfolio and has field reconnaissance planned to begin before the end of the year.

“Grong Grong is a highly attractive prospect, due to its prospectivity for IRGS-style gold deposits and it also has the benefit of an existing drill target,” Carpentaria Exploration managing director Quentin Hill said in the company’s announcement to the Australian Securities Exchange.

“When combined with the encouraging recent results at our Advene gold project and existing prospects at Barellan and Temora, Carpentaria has assembled a strategic gold portfolio with great potential for discovery.

“It is rare to find such prospects with existing untested near economic drill hole intersections available on open ground at no acquisition cost.”

“Carpentaria will continue to exploit these opportunities and explore for gold during this down turn in market sentiment.

“However some recent market commentary has suggested that only five per cent of gold companies would be making money at current gold prices, and if this is even partly true, supply will contract and prices will likely rebound.”

Carpentaria’s wholly-owned gold project portfolio now totals 1800sqkm across four projects within the Lachlan Fold Belt.

The company believes its portfolio has potential for discovery of significant IRGS and Fosterville style deposits at its Advene, Barellan and Grong Grong projects, as well as epithermal and/or large porphyry copper gold deposits at its Temora and Glen Isla projects.

Email:
info@capex.net.au

Website:
www.capex.net.au

THE DRILL SERGEANT: Core Exploration (ASX: CXO) recently completed an Induced Polarisation (IP) geophysical survey, which identified drill targets at both the Blueys and Inkheart prospects within the company’s Albarta project in the Northern Territory.

Core believes these new IP targets combine with high silver in soil and high-grade rock chip results to be a strong indicator of mineralisation at depth.

Location of IP lines, all rock chip samples with samples over
100ppm silver highlighted and silver in soil displayed, Blueys and
Inkheart prospects. Source: Company announcement

Core has already commenced processes to enable drilling at Blueys and Inkheart as early as possible in 2014.

“The bulk of the chargeable IP targets appear to be between 75 to 150 metres depth and are underlying silver (± copper ± lead) soil anomalism and mineralised rocks at surface,” Core Exploration said in its ASX announcement.

“Drilling has never been conducted to these depths at Blueys so these targets are untested.

“Previous mapping and rock chip sampling at Blueys has identified a broad zone of pervasive stock-work veining associated with malachite and azurite (copper) and argentiferous galena (lead/silver) minerals at surface.”

Rock chip samples Core took from Blueys graded up to 4,065 grams per tonne silver, 8 per cent copper and 25 per cent Lead.

Core said its recent soil results also defined a high core of silver anomalism at both the Blueys and Inkheart prospects.

Core’s recent soil results also confirmed a strong correlation between lead and copper in soils and the high silver anomalism that characterise Blueys and Inkheart.  

Core indicated it is planning to commence an RC drilling program as early as possible in 2014, subject to having required approvals.

The company has commenced the process of securing land access approvals to enable the drilling program to proceed.

Core is currently undertaking further modelling of the IP data and drilling, which it anticipates will further define the depth, dimension and intensity of the chargeable features of the two prospects.

Email:
info@coreexploration.com.au

Website:
www.coreexploration.com.au

THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has intersected copper mineralisation while conducting its latest phase of drilling at the company’s 100 per cent-owned Horseshoe Lights copper-gold project in the Peak Hill Mineral Field of Western Australia.

The Horseshoe Lights project is located, 75 kilometres west-northwest of Sandfire Resources’ (ASX: SFR) DeGrussa copper/gold project.

Horseshoe Metals has taken receipt of the full laboratory analysis results from the recently-completed eight hole, 1,818 metre Reverse Circulation drilling program at the Horseshoe Lights project.

Drill Section through RC358 (+/- 100m) looking northwest
overlain with DDIP Line 6 Inverted Chargeability image. Source: Company
announcement

Latest results include Drill hole RC358, which was originally drilled in 1987 to a down hole depth of 120m.

Horseshoe Metals extended the drill hole to test a chargeability anomaly identified from a ground based Dipole-Dipole Induced Polarisation (DDIP) survey it completed in 2011.

A zone of low-grade copper mineralisation on the inner DDIP contour was intersected between 218-224m and included 1 metre (218-219m) at 0.05 per cent copper and 1m (223–224m) at 0.22 per cent copper.

The company considers the information it has gleaned from this drill hole, combined with other geological information provides evidence the DDIP anomaly sits at depth in the Narracoota Formation, within the nose of an interpreted fold.

“The copper mineralisation in hole RC358 is encouraging as it suggests there is potential for further copper mineralisation at depth, and additional drilling is warranted to determine the source of the DDIP anomaly,” Horseshoe Metals said in its ASX announcement.

The latest results come after the company released results from the first two holes of the drill program in October 2013, which reported high-grade copper intersections including:

32m at 1.8 per cent copper, including 12m at 2.8 per cent copper and 0.2 grams per tonne gold, which included a peak interval of 2m (199-201m) at 5.5 per cent copper and 0.3g/t gold.

“The intersection of copper mineralisation in RC358 is encouraging as it suggests there is potential for further copper mineralisation at depth,” Horseshoe Metals said.

“RC 358 was not drilled deep enough to fully test the DDIP anomaly, therefore additional drilling is considered to be warranted to determine the source of the DDIP anomaly.”

Email:
info@horseshoemetals.com.au

Website:
www.horseshoemetals.com.au