ABM hits best results at Hyperion

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THE DRILL SERGEANT: ABM Resources has enjoyed recent success with Reverse Circulation drilling on the company’s Hyperion gold project in the Northern Territory returning the project’s best results to date.

The Hyperion gold project is 100 per cent -owned by ABM and is located 18 kilometres north-northeast of the Groundrush gold deposit of ASX-listed Tanami Gold.

 

Location map of the Hyperion gold project relative to the Twin Bonanza
project and the Groundrush mine Northern Territory. Source: Company
announcement

Recent RC drilling results from the Hyperion gold project include:

–    35 metres at 5.43 grams per tonne gold (0.5g/t cut-off) from 36 metres depth, including 10 metres at 17.27grams per tonne gold (1.0g/t cut-off) and a peak value of 135 grams per tonne gold over one metre;

–    15m at 2.06g/t gold (0.5g/t cut-off), including 10m at 2.85g/t gold (1.0g/t cut-off);

–    12m at 3.48g/t gold (0.5g/t cut-off). Including 9m at 4.36g/t gold (1.0g/t cut-off);

–    26m at 1.14g/t gold (0.5g/t cut-off), including 4m at 2.3g/t gold (1.0g/t cut-off) and 13m at 1.13g/t gold (1.0g/t cut-off); and

–    8m at 1.25g/t gold (0.5g/t cut-off), including 4m averaging 1.95g/t gold (1.0g/t cut-off).

The company said further assays of drill results from the 2011 program at Hyperion are awaiting completion.

“ABM’s tiered exploration approach sees the company working advanced projects such as Old Pirate and Buccaneer along with regional discoveries and grass-roots targets simultaneously,” ABM Resources managing director Darren Holden said in the company’s announcement to the Australian Securities Exchange.

“This approach gives the company excellent optionality across its extensive portfolio.

“The Hyperion gold project is one of the company’s regional discoveries and is located only 18 kilometres from Tanami Gold’s Groundrush gold deposit.

“We expect that an initial resource will be estimated for the project following receipt of the remaining results from the 2011 drilling program.”

 

Naracoota completes drill program

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THE DRILL SERGEANT: Naracoota Resources has received further high-grade gold results from the final three holes of a recently competed eight hole first pass drill program at the company’s Hill 680 prospect located 125 kilometres north of Meekatharra in Western Australia.

Naracoota owns 100 per cent of the gold rights at Hill 680.

The prospect is located on the Horseshoe Range, situated approximately 25km south-east of the Fortnum gold plant and mine, and two kilometres west of the Cassidy Pit, both of which are in the process of being acquired by ASX-listed Resource and Investment.

Naracoota said the drilling of the final three holes of the program had encountered a number of high-grade gold intersections.

 

Cross-section through the Hill 680 prospect. Source: Company announcement

 

Results include:

–    17 metres at 3.71 grams per tonne gold, including 2 metres at 21.7g/t gold and 4m at 3.1g/t gold.

The company also identified broad zones of anomalous mineralisation surrounding the high-grade results such as:

–    79m at 0.42 g/t gold (0.1 g/t cut-off).

Naracoota claims the results confirm the tenor of known mineralisation that was identified by a limited drill program that was conducted in the area in the late 1980’s.

The company also said it has now expanded upon this known mineralisation, extending it closer to surface in an area that had previously not undergone drill testing.

“The results from this initial program are pleasing,” Naracoota Resources managing director Steve Crabbe said in the company’s announcement to the Australian Securities Exchange.

“We have confirmed that there is significant gold mineralisation at Hill 680 and extended the known mineralisation where it remains open along strike and at depth.

“The recent study by CSIRO on the range shows that this mineralisation may extend not just along the range but also along a series of cross cutting structures which have been identified for the first time.

“We look forward to testing this in the next round of drilling at this prospect.”

Vital hits high-grade tungsten at Watershed

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THE DRILL SERGEANT: Drilling carried out by Vital Metals on the company’s Watershed tungsten project in Queensland has intersected high-grade tungsten mineralisation in multiple vein swarms.

Vital Metals has received tungsten assay results from a diamond drilling program and trench sampling program the company completed in December 2011.

According to Vital the drilling intersected multiple vein swarms typical of the Scheelite mineralisation found at Watershed.

The company claims a third of the reported intercepts have a grade higher than 0.30 per cent tungsten, which it noted is close to the head grade of the operating underground mine at Mittersill, Austria.

Results received from the diamond drilling on the Watershed tungsten project include:

–    10 metres at 0.41 per cent tungsten from 73 metres;

–    1m at 6.37 per cent tungsten from 122m;

–    20m at 0.22 per cent tungsten from 4m;

–    14m at 0.39 per cent tungsten from 27m; and

–    10m at 0.25 per cent tungsten from 136m.

 

Watershed drilling showing reported intersections. Source: Company announcement

 

The trench sampling carried out by Vital across a vein swarm reported:

–    13m at 1.07 per cent tungsten from surface; and

–    30m at 0.31 per cent tungsten from surface.

The majority of the eight hole diamond drilling program targeted open pit-able mineralisation at less than 200m with hole depths from the program varying from a shallow 105.4m to 417.1m in total depth.

The most significant Tungsten intercepts Vital received from the program stemmed from two particular holes (1m at 6.37 per cent and 14m at 0.39 per cent).

Seven of the holes were designed to provide additional data on tungsten mineralisation around the limits of the previous pit design while another was designed to test for deeper tungsten mineralisation.

“Tungsten was a standout commodity last year with the price closing over 30 per cent higher than the start of the year,” Vital Metals said in its ASX announcement.

“Continued supply pressure and increased demand have supported that price increase since the start of 2012.

“Vital believes that the Watershed project is well placed to take advantage of these prices and based on the current schedule at Watershed our goal is to be in construction during 2013 and producing tungsten concentrate by 2014.”

 

Image encouraged by Erayinia JV drilling

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THE DRILL SERGEANT: Image Resources has conducted a program of wide-spaced reconnaissance aircore drilling on 125 square kilometres of tenements the company holds at the Erayinia Joint Venture, located 160 kilometres southeast of Kalgoorlie.

According to Image the drilling identified an area of broad gold anomalism at Zone A.

Results from the drilling include:

–    8m at 0.80 grams per tonne gold from 44m;

–    4m at 0.50% g/t gold from 20m;

–    4m at 0.24 g/t gold from 32m; and

–    1m at 0.21 g/t gold from 51m.

The 100 per cent-owned Image tenements are held in Joint Venture with ASX-listed gold producer Integra Mining.

 

Zone A aircore drilling results overlain on grey-scale magnetics. Source: Company announcement via Integra Mining

 

The tenements form part of Integra’s Aldiss gold project situated 60km southeast of its Randall’s gold processing facility.

Under the terms of the joint venture Integra may earn a 70 per cent interest in the tenements by spending $750,000.

“The Zone A gold trend extends for at least three kilometres into Image’s tenements and forms part of a broader zone, the Admiral Trend, extending for a further five kilometres into Integra’s adjacent tenements,” Image Resources explained in its ASX announcement.

“The geology comprises a sequence of mafic and andesitic volcanics, sediments and granite below complex regolith cover.

“Integra is planning a program of follow up drilling in Zone A and soil sampling of other target areas on the Image tenements.”

Image said it had been encouraged by the results achieved so far by this early stage exploration.

South Boulder and Independence recommence drilling Duketon JV

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THE DRILL SERGEANT: South Boulder Mines has announced the recommencement of diamond and RC resource definition and extension drilling at the Duketon Nickel Joint Venture (DNJV), located approximately 120 kilometres of Laverton in Western Australia.

South Boulder’s JV partner Independence Group is earning 70 per cent of the nickel rights at Duketon by sole funding exploration and development through to the completion of a Bankable Feasibility Study.

The JV has identified a number of drilling targets, which it plans to test at the Rosie and C2 nickel-copper-platinum group elements deposits.

 

Rosie Long-section showing drill hole intercepts, DHEM conductors and drill targets. Source: Company announcement

 

Exploration activities earmarked for the Rosie deposit include exploring strike extents of the Rosie system for additional resources, including structural target zones, in order to test for thicker high-grade zones within the Contact domain.

A maiden JORC Compliant Mineral Resource Estimate for the Rosie deposit was released in January.

The JV will conduct in-fill drilling at the C2 deposit to 50 metre sections.

This drilling will test for potential higher grade zones and better define the current resource outline.

The upcoming drilling program will also test beneath the TBRC034 target where a reconnaissance RC program in 2008 returned an oxide intercept of 4m at 0.44 per cent nickel, 0.19 per cent copper and 1.7 grams per tonne platinum and palladium.

The JV has also outlined testing of the Eastern contact of the Bulge Ultramafic, situated south of C2, on 100m spaced sections to explore for possible repeats of Rosie-style mineralisation between Rosie and the C2 Ni sulphide deposit.

“It is very pleasing to see exploration step up a notch at the DNJV with the most intensive drilling plans to date,” South Boulder Mines chief executive officer and managing director Lorry Hughes said in the company’s announcement to the Australian Securities Exchange.

“The mineralisation discovered to date at the DNJV is similar to other magmatic nickel systems that host long-life nickel mines.

“The Rosie JORC Compliant Resource Estimate completed in January provides a robust starting point for resource growth and I’m expecting many new discoveries.”

South Boulder said the total number of holes it plans to drill will be dependent upon results.

The company added however, that it expects up to 60 holes for around 16,000m will be completed in a continuous program over the next three months.

Evolution elevates Edna May Resource

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THE DRILL SERGEANT: Evolution Mining has updated the underground Mineral Resource at the company’s 100 per cent-owned Edna May gold operations in Western Australia.

The revised underground Mineral Resource now comprises a total Indicated and Inferred Resource of 1.2 million tonnes at 7.0 grams per tonne gold for a total of 270,000 contained gold ounces.

 

Edna May Underground Mineral Resource Statement February 2012 (> 3.0g/t lower gold cut off). Source: Company announcement

The upgrade resulted from the company’s 2011 drilling campaigns, which were focused on upgrading a high proportion of Inferred Resources to Indicated and extending mineralisation at depth.

The updated Mineral Resource represents a 70 per cent increase in ounces to the previous estimate.

Evolution said it has only defined the underground Mineral Resource to a depth of 550 metres below surface where it remains open both at depth and along strike.

Infill drilling carried out by the company to date has prioritised the upgrade of Inferred Resources close to the existing decline, beneath the current open pit operation.

“This is an encouraging addition to our efforts to maximise the value of Edna May,” Evolution Mining executive chairman Jake Klein said in the company’s announcement to the Australian Securities Exchange.

“Our focus at the operation over the next 12 months remains on improving the reliability and performance of the plant, but underground development represents an option for adding value to the long term future at Edna May.”

Evolutions recent drilling program targeted the infill of high value areas of the Resource and extensional targeting aimed at testing depth and strike extensions to mineralisation.

So far this drilling has enabled the company to define additional reefs in the hanging wall of the Edna May Gneiss as well as strong grade continuity both laterally and at depth.

MIL receives final Golden Peak drilling results

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THE DRILL SERGEANT: MIL Resources has reported further results from drilling carried out on its Golden Peak project, located 40 kilometres east of Port Moresby in Papua New Guinea.

Previous results included:

–    20 metres at 8.5 grams per tonne gold and 10.9 grams per tonne silver from 44.4 metres, Including 1 metre at 154.0 grams per tonne gold and 207.0 grams per tonne silver from 47.4 metres.

Recently received results include:

–    18.7m at 0.22g/t gold from 40.3m;

–    31m at 0.97g/t gold from 59.0m, Including 1m at 11.0g/t gold from 75.0m; and

–    25m at 0.15g/t gold from 90m.

MIL said the results from one of the holes indicated 74.2m (not including 0.5m core loss) of mineralisation was intersected continuously down the hole from 40.3m.
 
They also demonstrate mineralisation to be open along strike, while the drilling has confirmed depth continuity to the high-grade mineralisation, which also remains open.

Two copper in soil geochemical anomalies remain untested, however, a ground magnetics orientation survey has confirmed the suitability of this technique to identify sub-surface mineralisation at Golden Peak.

 

Copper in soil anomaly, trench and drill hole locations at Golden Peak. Source: Company announcement

 

MIL claims the magnetic anomaly extends the drill intersected mineralisation a further 80m to the south east of the hole that provided the earlier results.

The company said this remains open to the north-west, and supports the subsurface presence of mineralisation below the previously reported trench assays.

“The results reaffirm our belief that the system at Golden Peak is potentially substantial, and that there are now additional incentives to explore further due to the high grades from drilling and untested targets,” MIL Resources chairman Doug Halley said in the company’s announcement to the Australian Securities Exchange.

Blackthorn hits high-grade copper

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THE DRILL SERGEANT: Blackthorn Resources has received some impressive copper results from the Phase 5 exploration program underway at the company’s Mumbwa project in Central Zambia.

Blackthorn has intersected the best copper intersections recorded to date at Mumbwa. These results all came from the Kitumba mineral resource area.

Drilled thickness intersections include:

Hole S36-033

–    231 metres at 4.49 per cent copper between 201 metres and 432 metres, including:

–    17m at 14.88 per cent copper between 211m and 228m;

–    10m at 10.06 per cent copper between 265m and 275m; and

–    10m at 9.11 per cent copper between 283m and 293m.

This particular drill hole was abandoned in mineralisation at 463m before it reached its target depth.

Blackthorn plans to recover or to redrill the hole to its target depth of 500m.

The company also received copper assay results for other ‘step-out’ holes.

Significant drilled thickness intercepts from this drilling include:

Hole S36-029

–    12m at 0.61 per cent copper between 246m and 258m;

–    22m at 0.89 per cent copper between 349m and 371m;

–    10m at 0.39 per cent copper between 383m and 393m;

–    6m at 0.48 per cent copper between 395m and 401m; and

–    6m at 0.66 per cent copper between 576m and 582m.

Hole S36-030

–    2m at 0.93 per cent copper between 214m and 216m; and

–    2m at 0.86 per cent copper between 253m and 255m.

–    Hole S36-031

–    4m at 0.37 per cent copper between 329m and 333m;

–    2m at 0.50 per cent copper between 340m and 342m; and

–    1m at 0.80 per cent copper between 346m and 347m.

The drilling component of the Phase 5 exploration program is nearing completion with the company having completed 15 holes for 7,684.39m.

 

Phase 5 drill hole location plan for the Kitumba mineral resource area. Source: Company announcement

 

An additional hole has been planned for drilling in Phase 5 which is targeting a nearby anomaly at Kitumba.

 “It is genuinely exciting and a very important achievement to receive such high-grade copper results from drill hole S36-033,” Blackthorn Resources managing director Scott Lowe said in the company’s announcement to the Australian Securities Exchange.

“These results are the best recorded copper assays from the Kitumba area to date, and clearly demonstrates the high-grade potential of the Mumbwa district.

“It is a credit to the exploration team who have been working hard and are dedicated to uncovering the potential of the Kitumba mineral resource area.

“The company eagerly anticipates the redrilling of this target to the planned depths or beyond, and other results to further build on the database that will allow the economic viability of the Kitumba area to be evaluated, with particular focus on the high-grade copper core.”

YTC confirms gold at Kadungle

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THE DRILL SERGEANT: YTC Resources has released the latest exploration results from the company’s 100 per cent-owned Kadungle copper-gold project in central New South Wales.

The Kadungle project is located approximately 40 kilometres northwest of the NorthParkes copper-gold deposit of Rio Tinto.

 

Source: Company announcement 

In December 2011, YTC completed 2 RC holes at the Mt Leadley prospect at Kadungle, testing for copper-gold mineralisation.

According to the company assay results from these holes have confirmed broad intervals of low-grade gold-copper mineralisation, with high gold grade mineralisation.

Results included:
 
–    154 metres at 0.37 grams per tonne gold and 0.12 per cent copper from surface, including 3 metres at 7.08 grams per tonne gold and 0.31 per cent copper from 115 metres; and

–    131m at 0.13g/t gold and 0.17 per cent copper from 41m.

YTC said the higher grade gold interval of 3m at 7.08g/t gold is associated with an eastern breccia margin 50m south along strike from high grade gold intersected in the same structural position of previously released drilling results ( 12m at 7.73g/t gold).
 
The company said the drilling has confirmed the preferential development of high grade gold in this position and that it considers the breccia margin zone at Kadungle to represent a potential high grade gold target.

“These results look to have confirmed the preferential development of high grade gold on the margin of the diatreme breccia at Kadungle,” YTC Resources chief executive officer Rimas Kairaitis said in the company’s announcement to the Australian Securities Exchange.

“The breccia margin represents an exciting high-grade gold target for further exploration”

Integra identifies gold trend near Daisy Milano

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THE DRILL SERGEANT: Western-Australi-based gold producer Integra Mining has received results from an initial RC drilling campaign it conducted throughout November and December 2011 at the company’s Mt Monger Reefs prospect.

The Mt Monger prospect is located 13 kilometres northwest of Integra’s Randalls gold processing facility.

 

Mt Monger exploration targets location plan. Source: Company announcement

 

The RC drilling was carried out to test anomalous gold results the company achieved during previous aircore drilling, which included 3 metres at 77.66 grams per tonne gold.

Results from the recent RC drilling included:

–    5 metres at 2.84 grams per tonne gold; and

–    4m at 2.12 g/t gold.

Integra said the newly identified gold mineralisation appears to be a similar style to that being mined at the neighbouring Daisy Milano Mine of Silver Lake Resources.

The company has interpreted the mineralisation to be hosted in splays from the Goddard Fault identifying it to occur along two north-northwest trends, one of which may continue up to 180 metres south-southeast from previous RAB hole drilling.

This previous drilling returned 4m composite at 984.67g/t gold re-sampled at 3m at 77.66g/t gold including 1m at 229.59 g/t gold.

“The north-northwest trending gold anomalies remain open at depth and are currently unconstrained along strike,” Integra Mining said in its ASX announcement.

“Additional RC drilling is planned and is due to commence shortly to further test the depth and strike extent of gold mineralisation at the Mt Monger Reefs.”