Azure hits high-grade Mexican zinc

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THE DRILL SERGEANT: Azure Minerals has received high-grade assay results from recent completed diamond drilling at the company’s 100 per cent-owned El Tecolote project, located in Sonora, Mexico.

Exploration at El Tecolote is conducted in Joint Venture with Japanese Government organisation, JOGMEC, which has the right to earn up to 70 per cent in the project by spending US$13 million.

 

El Tecolote project. Source: Company announcement

Azure has reported a number of drill holes intersected wide zones of skarn-hosted, high-grade zinc mineralisation located within a horizon parallel to the historical El Tecolote mine.

The company has claimed four holes have hit visible sphalerite (zinc sulphide) mineralisation.

Azure has received results from the first hole with the mineralised intercept returning:

–    10.10 per cent zinc over 1.9 metres from 131.15 metres;

–    10.95 per cent zinc over 4.1m from 134.65m;

–    within an overall intercept of 13.6 metres at  6.9 per cent zinc.

Having had the visual intercepts confirmed by assays, Azure elected to drill an additional three holes at 40m to 80m intervals along strike.

All three holes intersected significant amounts of sphalerite along with minor visible copper sulphide mineralisation.

Azure managing director Tony Rovira said he was encouraged with the outcome of the company’s first drilling program at El Tecolote.

“Identifying a new zone of high grade mineralisation is a great result from our first drilling in this area and we look forward to reporting further strong results from the remaining drill holes as soon as possible,” he said in the company’s announcement to the Australian Securities Exchange.

Ventnor continues to tame Green Dragon

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THE DRILL SERGEANT: Australian base metals explorer Ventnor Resources has scored some impressive near surface copper mineralisation assays from a recent Phase 3 drilling program conducted at the Green Dragon prospect.

The Green Dragon prospect is part of the company’s Thaduna and Green Dragon copper project, located 170 kilometres north of Meekatharra, Western Australia, in the Doolgunna district, and 40 kilometres east of Sandfire Resource’s Degrussa project.

 

Tenement status map of the Thaduna – Degrussa area. Source: Company announcement

 

Highlights from the recent drilling include:

–    10 metres at 6.82 per cent copper from 34 metres, including 6 metres at 10.96 per cent copper from 37 metres downhole;

–    7m at 4.43 per cent copper from 75m, including 5m at 6.07 per cent copper from 80m downhole;

–    19m at 3.33 per cent copper from 63m, including 12m at 5.07 per cent copper from 64m downhole;

–    7m at 4.33 per cent copper from 88m, including 5m at 5.93 per cent copper from 88m downhole; and

–    29m at 2.22 per cent copper from surface, including 9m at 4.00 per cent copper from surface.

The latest round of drilling conducted by Ventnor followed results from earlier RC programs.

“The last phase of RC at the Green Dragon has largely completed the investigation of the extent of the main zone of mineralisation to a vertical depth of 200 metres,” Ventnor Resource managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.

“Significant high grade results at or near the surface greatly enhance the economics of this deposit with immediate ore access for production.”

Ventnor said that a Phase 4 drilling program of 9,000m is now underway at the Thaduna and Green Dragon prospects.

This time the drilling is to be predominately diamond drilling and is expected to be completed in April with a JORC compliant Resource estimate anticipated to be completed by June.

The Phase 4 drilling program at Green Dragon is intended to achieve 4 goals:

–    4 deeper RC holes to the north to finalise the drill out of the mineralisation to 200 metres depth;

–    4 shallow holes to the south to follow up the near surface mineralisation;

–    3 RC holes to the east will test a possible second shoot of mineralisation that has splayed off the main mineralised zone; and

–    2 HQ Diamond holes will be drilled within the main mineralised zone to generate metallurgical samples as well as geotechnical data to aid with pit design work. The company said these holes will add to the geological understanding of the Green Dragon mineralisation.

Burkina Faso drill results keep Vital interested

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THE DRILL SERGEANT: Vital Metals has received gold assay results for the latest 16 holes from a recently completed 51 Hole RC drilling program in Burkina Faso.

The company is undertaking the drilling program targeting shallow high-grade gold mineralisation at the Kollo gold prospect, located on the Doulnia tenement (Vital Metals 60 per cent, Ampella Mining 40 per cent).

 

Location of Vital Metals tenements in Burkina Faso. Source: Company announcement

 

Recent results received for infill drilling on the Kollo gold prospect include:

–    4 metres at 6.29 grams per tonne gold from 78 metres;

–    3m at 6.41 g/t gold from 88m; and

–    8m at 3.62 g/t gold from 15m.

“The latest drilling on the Kollo trend (which has a strike of around 2.5 kilometres) has been focussed on the Kollo South, Kollo Central and Kollo North areas with the aim of bringing the drill spacing in these areas to a nominal 50 metre by 50 metre spacing,” Vital Metals said in its ASX announcement.

“Significantly the balance of the Kollo trend is untested by drilling.”

Vital said it expects to have received the balance of assays from the RC drilling program before the end of February or early March.

Once it has done so Vital will commence work on interpreting the data and completing geological modelling of the gold mineralisation.

The company’s exploration team is completing geochemical sampling program on a number of gold targets on the Kampala tenement.

Planning has also commenced on the next drilling program and with the Burkina Faso drilling season having just commenced, Vital appears confident enough time remains for it to complete further drilling once all results have been received and interpreted.

Focus sharpens on Treasure Island

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THE DRILL SERGEANT: Focus Minerals told the market that reconnaissance drilling at its Treasure Island gold project has confirmed a gold bearing system running through the project appears to be much longer in potential strike length than initial estimates.

The Treasure Island gold project on Lake Cowan is located 35 kilometres south-south east along strike from the major gold camp of Kambalda St Ives in Western Australia.

Having received final assays from a reconnaissance aircore drilling program it conducted during the December quarter 2011, Focus has concluded the newly discovered gold bearing system extends for over a 4km strike length through the project, up from its initial estimate of 1.2km.

The company said the latest results also demonstrate the structural complexities of the gold system.

 

Cross Section showing how aircore drilling is identifying the supergene
zone which indicates the potential for a primary ore zone. Source:
Company announcement

“This drilling program has enabled us to identify the supergene zone hot spots that point to the potential primary ore zones beneath the lake sediment,” Treasure Island principal geologist Dean Goodwin said in the Focus Minerals announcement to the Australian Securities Exchange.

“What we are starting to see as we map these is not only a significant increase in the length of the gold system, but also evidence of a lot of structural complexity which is similar to what you see at St Ives. Complexity is the key to finding substantial gold deposits.”

Goodwin said that since Focus had released the preliminary aircore results in November 2011, a further 12 holes had returned composite samples of greater than 50 parts per billion.

“This shows a strong signature as to the existence of the gold bearing structures beneath the lake. We’re excited by the potential,” Goodwin said.

Focus began infill aircore drilling in January 2012, which the company said it expected to produce multiple targets that will subsequently be tested by diamond drilling.

The company expects to have the results from this infill program in approximately one month’s time.

Gryphon Minerals adds to Stinger tale

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THE DRILL SERGEANT: Gryphon Minerals has announced follow up drilling results from its new Stinger discovery located only 10 kilometres to the east of the company’s Nogbele gold deposit and planned gold processing plant.

The Nogbele gold deposit is part of Gryphon’s Banfora gold project in Burkina Faso, West Africa.

 

Banfora gold project, Burkina Faso. Source: Company announcement

Results from the latest round of drilling include:

–    7 metres at 9.80g/t gold from 177 metres;

–    3m at 12.00g/t gold from 13m and 13m at 2.48g/t gold from 100m;

–    4m at 5.99g/t gold from 7m and 3m at 11.22g/t gold from 82m;

–    13m at 1.97g/t gold from 28m and 20m at 1.31g/t gold from 201m;

–    7m at 7.55g/t gold from 9m; and

–    2m at 54.69g/t gold from 20m End Of Hole.

Gryphon said the mineralisation from multiple zones outcrops from surface and has been drilled to typically less than 100 metres vertical depth.

Several recent drill holes confirm mineralisation continues to 150 metres below surface and is open at depth.

The company said that at least three parallel mineralised zones across several kilometres have been identified in, what it has labelled, the “Stinger mineralised corridor”.

 “We are again very excited by the latest drilling results which demonstrate Stinger is shaping up to be a significant new gold target with a very large mineralised footprint similar to the other discoveries at the Banfora Gold Project,” Gryphon Minerals managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

During 2012 the company is undertaking a $30 million exploration program and definitive feasibility study to establish a multi-million ounce gold district at the Banfora gold project.

Breakaway zeroes in on new mineralisation

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THE DRILL SERGEANT: Recent drilling carried out by Breakaway Resources has highlighted a potential new parallel zone of copper-gold mineralisation.

The new find is located approximately 100 metres west of the main mineralised zone at the company’s Sandy Creek copper-gold prospect, located 70 kilometres south-east of Cloncurry in North Queensland.

 

Sandy Creek Long Section showing position of DHTEM anomaly. Source: Company announcement

 

The company also conducted down-hole geophysics, which it said has also identified a new conductor extending down-plunge from existing high-grade drill intercepts within the main zone of mineralisation.

The copper-gold results returned 100m west of the existing mineralisation include:

–    14.38 metres at 0.72 per cent copper, 0.37 grams per tonne gold from 65 metres, including 3.53 m at 1.64 per cent copper, 0.21 grams per tonne gold.

Breakaway considers the results to potentially represent a new parallel mineralised zone, which remains open in all directions.

“It is encouraging to see evidence for a new parallel zone of copper-gold mineralisation at Sandy Creek,” Breakaway Resources managing director David Hutton said in the company’s announcement to the Australian Securities Exchange.

“When considered in conjunction with the DHTEM anomaly, and the broad spacing of existing drilling, the results continue to reinforce the significant size potential of the prospect.

“Sandy Creek continues to grow and, as a result, we are yet to find the limits to the copper-gold mineralisation.

“We are currently determining the next steps to better establish the prospect’s true size.

“This may include further drilling of the DHTEM anomaly and the new western zone, as well as further geophysical surveying throughout the prospect area.”

Naracoota takes Hill 680

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THE DRILL SERGEANT: Naracoota Resources has received high-grade gold results from a recent diamond and RC drilling program carried out at the company’s 100 per cent-owned (gold rights only) Hill 680 prospect 125 kilometres north of Meekatharra.

The Hill 680 prospect is located on the Horseshoe Range approximately 25km south-east of the Fortnum Gold plant and mine and two kilometres west of the Cassidy Pit.

Location map. Source: Company announcement

Both of these are in the process of being acquired by ASX-listed company Resource and Investment.

The company has now received assay results for five of the eight holes drilled and expects results from the remaining three holes in the coming weeks.

Latest drilling results include:

5 metres at 10.58 grams per tonne gold, including 1 metre at 46.4 grams per tonne gold;

2m at 8.98g/t gold; and

2m at 5.21g/t gold.

“These results confirm historic gold mineralisation reported from limited RC drilling conducted in the late 1980’s at Hill 680 by Barrack Exploration, and importantly expand upon the known mineralisation in this area,” Naracoota Resources said in its ASX announcement.

“This gold mineralisation is open along strike and at depth.”

Ampella drilling intercepts high-grade gold

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THE DRILL SERGEANT: Ampella Mining has received drill results showing shallow wide zones of high-grade mineralisation from recent infill drill programs at the company’s 100 per cent-owned Konkera gold resource at the Batie west project, in Burkina Faso West Africa.

The latest assay results were received from a reverse circulation and diamond drill program Ampella completed in the second half of 2011 on the Konkera North, Konkera Main and East and Kouglaga Prospects.

At Konkera North the best drill intercepts included:
 
–    66 metres at 5.4 grams per tonne gold, including 26 metres at 9.7 grams per tonne gold;

–    58m at 4.1 g/t gold;
 
–    55m at 4.2 g/t gold;
 
–    45m at 4.3 g/t gold, including 9m at 8.4 g/t gold; and
 

–    59m at 2.9 g/t gold, including 4m at 8.9 g/t gold.

 

Konkera drill collar plan. Red dots represent drill holes with current
results, yellow dots indicate assays results pending. Source: Company
announcement

Ampella has received approximately 80 per cent of the assay results have been returned from the drill program completed at Konkera Main and East in the second half of 2011 with most results from diamond tails still to be returned.

At Konkera Main and East best intercepts received so far included:
 
–    5m at 20.0 g/t gold, 2m at 49.5 g/t gold and 9m at 3.2 g/t gold (diamond tail assays pending);

–    21m at 4.6 g/t gold;
 
–    26m at 2.9 g/t gold, including 5m at 11.6 g/t gold; and

–    19m at 3.1 g/t gold (diamond tail assays pending).

“The latest round of exciting shallow infill drill results would assist in further increasing the size of the Konkera Resource that reports to the Indicated Resource classification as well as add increased confidence in the assessment of gold grade continuity across the resource”. Ampella Mining managing director Dr Paul Kitto said in the company’s announcement to the Australian Securities Exchange.

The Independent JORC Compliant Mineral Resource for Konkera consists of an Indicated Resource of 30 million tonnes at 1.6 grams per tonne gold for 1.5 million ounces gold and an Inferred Resource of 31.8 million tonnes at 1.5 grams per tonne gold for 1.6 million ounces gold.

Peel tests fitness of Mallee bull

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THE DRILL SERGEANT: Perth-based explorer Peel Mining has reported the results of follow-up Reverse Circulation (RC) and diamond drilling at the Mallee Bull prospect (previously known as 4-Mile).

Mallee Bull is part of the company’s 100 per cent-owned May Day-Gilgunnia project located about 100 kilometres south of Cobar in New South Wales.

 

Source: Company announcement

 

According to Peel the recent drilling has intersected additional new high-grade Cobar-style polymetallic mineralisation.

Assays results received included:

10 metres at 2.89 per cent copper equivalent (2.22 per cent copper, 33 grams per tonne silver, 0.44 grams per tonne gold) from 174 metres; and

 4m at 2.97 per cent copper equivalent (1.98 per cent copper, 45g/t silver, 0.72 g/t gold) from 358m.

“The results continue to confirm that Mallee Bull is host to high-grade copper-dominant mineralisation, and importantly, that the mineralising system is open at depth,” Peel Mining said in its ASX announcement.

The latest results follow on from others the company reported in mid-January where better assay results included:

6m at 3.05 per cent copper equivalent (2.01 per cent copper, 64 g/t silver, 0.43 g/t gold) from 208m;

11m at 3.30 per cent copper equivalent (2.71 per cent copper, 36 g/t silver, 0.26 g/t gold) from 233m; and

10m at 3.47 per cent copper equivalent (2.66 per cent copper, 44 g/t silver, 0.51 g/t gold) from 237m.

Peel carried out the latest drilling program based on these results in order to test along strike and down dip of the previously intersected mineralisation.

Assay data for a number of the recent drillholes remain outstanding, although the company did say multiple drillholes completed to date have intersected zones of polymetallic mineralisation.

“Drilling to date indicates that high-grade copper-dominant polymetallic mineralisation at Mallee Bull has a strike length of at least 120 metres, comes to within at least around 150 metres of surface, extends to at least around 310 metres below surface and is open in multiple directions including at depth,” Peel said.

Coventry commences Canada campaign

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THE DRILL SERGEANT: Coventry Resources has commenced a drilling program at the company’s Rainy River gold project located in north-western Ontario, Canada.

The Rainy River project comprises 120.9 square kilometres of mineral rights and is situated adjacent to the rapidly expanding 6.7 million ounce Rainy River gold deposit of TSX-listed Rainy River Resources.

 

Location of Coventry’s Cameron and Rainy River gold projects in NW Ontario, Canada. Source: Company announcement

 

Coventry claims to be the second-largest landholder in the Rainy River Greenstone Belt, which it said is now recognised as Canada’s newest gold district.

Although the Rainy River deposit is well-known there has been limited exploration undertaken previously in this, what Coventry described to be, “highly prospective Archaean-aged greenstone belt”.

Despite the limited exploration work Coventry has identified a number of high-priority gold targets within its project area.

“The company has commenced a reverse circulation (RC) drilling program to explore for gold in the glacial till cover within the company’s project area,” Coventry Resources said in its ASX announcement.

“Drilling will target known gold anomalies, such as Martin, Stafford, Neilson and Stock.

“First-pass, reconnaissance type samples will also be collected at the company’s Blue Property, where stratigraphy akin to that hosting the Rainy River Gold Deposit is present.

“No exploration has been undertaken here previously.”

Coventry said it anticipates generating geochemical anomalies from this drilling program in conjunction with its concurrent ongoing backhoe till sampling program, in advance of bedrock drilling.

The initial, first pass drilling program is expected to be completed in six to eight weeks, with analytical results returned soon after.

Diamond drilling at the company’s 1.4Moz Cameron gold project, 100km away, is continuing, in conjunction with a pre-feasibility study into the development of this deposit.