Talisman tallies maiden drill results

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THE DRILL SERGEANT: Talisman Mining has received results from a maiden RC drilling program recently completed at its newly acquired Muddawerrie gold project, located approximately 120 kilometres west of its Springfield VMS copper-gold project in Western Australia.

Talisman acquired the Muddawerrie project earlier this year along with another WA gold project, Livingstone.

The gold exploration program at Muddawerrie is part of Talisman’s strategy of expanding and diversifying its Bryah Basin exploration portfolio.

This portfolio includes the Springfield project, which is situated adjacent to Sandfire Resources’ DeGrussa project.

 

Source: Company announcement

“The Muddawerrie project includes the Mount Maitland Trend, which extends for six kilometres along the western side of the project area,” Talisman Mining said inits announcement to the ASX.

“The trend is characterised by highly anomalous gold-copper geochemistry in highly sheared mafic volcanic rocks coincident with a number of old gold workings.”

Talisman wrapped up a Reverse Circulation (RC) drilling program at Muddawerrie last month with 19 holes drilled for a total of 1,860m.

The drilling tested a series of high priority prospects along two mineralised shear zones that have been subjected to cursory amounts of historic exploration and shallow drilling.

RC drilling at the Mt Maitland South prospect intersected near-surface gold mineralisation with better intercepts including:

–    12 metres at 1.58 grams per tonne gold from 8 metres, including 2 metres at 6.35 grams per tonne gold from 14 metres;

–    12m at 0.47 g/t gold from 44m; and

–    20m at 0.43 g/t gold from 142m.

Other recently completed RC drill holes were drilled to test the Lenanphyl prospect along the Muddawerrie Trend.

“This drilling indicates that the mineralised iron formation at Lenanphyl dips steeply to the east rather than to the west as previously interpreted and was therefore not adequately tested by this maiden drill program,” the company explained.

“This area remains a highly prospective target for future drilling.”

Talisman said it considers these early first-pass drilling results to be encouraging enough for it to carry out further follow-up drilling.

The company is currently preparing follow-up exploration activities for the 2012 field season.

Samavogo returns satisfying results for Gryphon

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THE DRILL SERGEANT: Gryphon Minerals has announced further results from ongoing reverse circulation and diamond drilling at its Samavogo gold deposit, at the company’s Banfora gold project in Burkina Faso, West Africa.

Gryphon has already identified a JORC-compliant inferred resource estimate at the Banfora project of 29 million tonnes at 2.1 grams per tonne for 2 million ounces of gold.

 

Source: Company announcement

“We are continuing to see shallow, high grade mineralisation throughout the Banfora gold project,” Gryphon Minerals managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Samavogo is shaping up to be an impressive gold deposit especially considering it is open at depth and along strike.

“These latest results support our expectation that Samavago could grow considerably beyond the current resource.”

Gryphon said the drilling at Samavago is targeting shallow mineralisation as well as higher grade down dip extensions.

The drill results are shallow intersecting gold less than 100 metres vertical depth.

The company claimed mineralisation at Samavogo starts from surface and continues to be open along strike and down dip with drilling ongoing.

Highlights from the latest round of drilling include:

–    18 metres at 4.65 grams per tonne gold from 73 metres;

–    3m at 3.56g/t gold from 127m;

–    5m at 12.40 g/t gold from 114m;

–    8m at 3.11g/t gold from surface and 6m at 6.96g/t gold from 18m;

–    10m at 3.32g/t gold from 59m;

–    7m at 5.52g/t gold from 40m;

–    8m at 3.97g/t gold from 172m; and

–    10m at 2.09g/t gold from 57m and 6m at 4.72g/t gold from 70m;

According to Gryphon the resource at the Samavogo gold deposit has been delineated over only three kilometres of a 12 kilometre strike, which remains open along strike and down dip.

Drilling at Samavogo is currently being carried out on a 40 metre by 40 metre spaced grid across the current three kilometre strike length, which the company anticipates will enable it to upgrade the resource category estimate.

Broad step out drilling is set to continue across the remainder of the 12 kilometres in the coming months with results anticipated in the coming weeks.

“We had three rigs continuing resource drilling through the wet season, which has now increased to six rigs on site for both resource definition and regional exploration,” Parsons said.

“We expect further significant growth at the Banfora gold project as our aggressive drilling program continue at the Nogbele deposit, the Fourkoura and Samavogo satellite deposits, plus our multiple other priority regional targets, including the new Stinger and Ouahiri Discoveries.”

The company has scheduled a further 20 high-priority regional targets to be tested with reconnaissance style RAB and auger drilling over the coming months.

Globe drilling confirms flourite

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THE DRILL SERGEANT: Globe Metals & Mining has told the market that fluorite focussed drilling conducted at its Mount Muambe project in Mozambique has confirmed strike extensions and provided additional infill results.

According to the company drilling carried out to the north of the Main Fluorite/REE Zone of the project has extended near surface fluorite mineralisation to over 300m strike length.

 

Source: Company announcement

 Best recent results from the northern extension drilling include:

–    13 metres at 13.9 per cent fluorite from surface; and

–    10m at 12.9 per cent fluorite from 12m.

Best results received from the infill drilling include:

–    27m at 19.6 per cent fluorite from surface, including 6m at 41.6 per cent fluorite; and

–    18m at 20.6 per cent fluorite from surface, including 8m at 24.5 per cent fluorite.

Globe said it expects to receive fluorite and REE results for the remaining 27 holes drilled in the Main Fluorite/REE Zone and its southern extension in the coming weeks.

Globe’s 2011 drilling program is beginning to present a clearer geological picture between the fluorite and REE mineralisation in and around the Main Fluorite/REE Zone,” Globe Metals & Mining said in its announcement to the ASX.

“Recent analytical results have shown that fluorite is dominantly hosted in sheets of fenite above a larger carbonatite body containing both LREO and HREO enriched mineralisation.

“The most recent results have extended this zone of fluorite mineralisation to the north, confirming a strike length in excess of 300 metres.

“The mineralisation occurs in a relatively flat-dipping, irregular shaped zone about 80 metres wide, with thickness generally ranging between five metres and 30 metres.”

Globe said these latest results have continued to outline a consistent zone of mineralisation that it will use to form the basis of an initial resource estimate due for completion in first quarter of 2012.

The company suggested it is expecting significant additional fluorite and REE drilling results to flow from the drilling program at Mount Muambe over the coming weeks and months.

Doray completes drilling Wilber

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THE DRILL SERGEANT: Doray Minerals has completed its December resource upgrade drilling program for the Wilber Lode located within the company’s Andy Well project (Doray 80 per cent).

A number of the recent holes returned high-grade gold intersections outside the current resource.

The Andy Well project is located approximately 45 kilometres north of Meekatharra, in Western Australia’s Murchison Region.

Doray announced the discovery of the Wilber Lode in March this year and considers it to be amongst the highest grade undeveloped gold deposits in Australia.

The company is currently working towards upgrading the resource by the end of 2011 while at the same time conducting a number of development activities to bring the project into production.

A total of 43 diamond holes and 25 RC holes have been completed as part of the current resource upgrade drill out and have tested the mineralised Wilber Shear Zone over approximately 600 metres of strike and down to a depth of almost 400 metres below surface.

 

Long Section of the Wilber Lode deposit, highlighting recent results. Source: Company announcement

The company has been encouraged by the receipt of high-grade results for a number of the RC holes, including several holes testing the structure to the south of the cross-cutting dolerite dyke and down to approximately 150m below surface.

Several of these holes have returned consistent thickness and grade, including:

–    1m at 34.1 grams per tonne from 120 metres;
 
–    1m at 21.4g/t from 137m;

–    1m at 31.9g/t from 26m;

–    1m at 49.8g/t from 36m;

–    1m at 21.2g/t from 86m; and

–    1m at 26.5g/t from 164m.

A number of diamond holes have also returned high-grade gold results outside the current resource, including:

–    2.1m at 11.2g/t from 264.9m;

–    0.8m at 36.2g/t from 316.4m;

–    1.8m at 16.7g/t from 367m;

–    0.5m at 32.3g/t from 322.9m; and

–    0.7m at 36.9g/t from 352.2m.

“Once the remaining drilling data has been compiled, the data will be processed with a view to releasing the upgraded resource by mid-December,” Doray Minerals said in its ASX announcement.

“Drilling continues at Andy Well with a number of further extensional holes and holes testing other high priority targets, including a potential northern extension to the Wilber Lode, being completed over upcoming weeks.”

Goldminex commences PNG drilling

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THE DRILL SERGEANT: Goldminex Resources has kicked off a 4,000 metre diamond drilling program at its flagship Liamu porphyry copper-gold project in Papua New Guinea.

The drilling has been designed to test encouraging surface sampling results that identified ten prospects within the Liamu project.
 
The program will target four key prospects, Movei, Nesei, Iyiowai and Unebu, and is scheduled to continue into the first quarter of 2012.

The Liamu project is a large porphyry copper-gold system located 120 kilometres east of Port Moresby in the Owen Stanley region of PNG.

 

Goldminex Owen Stanley tenements and target areas highlighting the Liamu project area. Source: Company announcement

The company said the drilling program is to consist of six deep diamond drill holes focused on geochemical, geological and geophysical targets in the Movei, Nesei, Iyiowai, and Unebu prospect areas.

The holes are hoped to provide an initial indication for the company of the potential of these prospects to host economic-grade gold-rich porphyry style copper mineralisation.

The data from these holes will also be used to hone in on mineralised centres within the project area and will form the basis of further drilling.

Goldminex has to date identified ten prospects at Liamu: Nesei, Movei, Tikay, Dada, Unebu, Berefana, situated within the 5.5km by 1.5km Berefana Region, and Imorobi, Biafa, Bubuafu and Iyiowai to the north and east of the Berefana Region.

“We are excited to enter this phase of drilling which we hope will add a third dimension to the very encouraging surface exploration results already returned from Liamu,” Goldminex chief executive officer Sandy Moyle said in the company’s announcement to the Australian Securities Exchange.

“Although this drilling will only test a small portion of the targets, it will enhance our understanding of this large mineralised system which has the potential to host a significant porphyry copper-gold deposit.”

Lakuwahi drilling encourages Robust

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THE DRILL SERGEANT: Robust Resources has received encouraging results from a recently completed a drill hole within the company’s Lakuwahi project area on Romang Island, Indonesia.

The purpose of the hole was to test the north-eastern extensions of the Batu Mas mineralisation, situated within the Lakuwahi project area.

According to Robust the hole intersected the thickest continuous zone of mineralisation it has so far encountered on Romang Island.

Encouraging the company further was the news that the drillhole terminated in mineralisation.

The results include:

–    106.3 metres at 1.01 grams per tonne gold Equivalent (0.36 grams per tonne gold, 31 grams per tonne silver) from 8 metres.

The company said a mineralised and thick base metal-rich breccia body is underlying and partially overlapping this upper section and includes higher-grade zones of:

–    136m at 1.36 per cent copper Equivalent (0.22 g/t gold, 21 g/t silver, 0.17 per cent copper, 1.23 per cent lead, 1.88 per cent zinc) from 59m including:

–    50m at 2.14 per cent copper Equivalent (0.23 g/t gold, 35 g/t silver, 0.27 per cent copper, 1.77 per cent lead, 3.29 per cent zinc) from 73m including:

–    10m at 3.60 per cent copper Equivalent (0.27 g/t gold, 63 g/t silver, 0.56 per cent copper, 3.10 per cent lead, 5.13 per cent zinc) from 73m.

Robust said these results confirm Batu Mas is open to the east and at depth and represents a new direction to the company for further exploration.

Source: Company announcement

 “These are highly encouraging results and reinforce the fact that the Lakuwahi system at Romang is of significant scale. It confirms also that it still remains highly prospective and underexplored,” Robust Resources managing director Gary Lewis said in the company’s announcement to the Australian Securities Exchange.

“To obtain assay results at the boundaries of the known mineralisation from the 166th drill hole illustrates that our maiden resource estimate will represent only a fraction of the overall Lakuwahi system.

“As previously stated, Lakuwahi itself represents only a small component of the entire Romang Island, with exploration having recently commenced at the much larger North Romang project area.

“We are on track to release our maiden resource estimate in the coming weeks and look forward to updating shareholders at this time.

“Some additional assay results are pending which we will also continue to report when available.”

MacPhersons releases Tycho Discovery maiden Resource

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THE DRILL SERGEANT: MacPhersons Reward Gold has released a maiden JORC mineral resource statement on its 100 per cent-owned Tycho Discovery gold deposit.

The prospect lies within the company’s MacPhersons Mining License located near Coolgardie in Western Australia.

The updated Mineral Resource estimate has been based on data MacPhersons obtained by completing a campaign consisiting 49 diamond drill holes.

Additional information the company obtained from the previous owner of the tenement consisting of three diamond, 99 RC holes and 67 RAB holes was also used in defining the extent of the mineralised zones.

 

Mineral Resource estimate results for Tycho Gold
Prospect.

Note: The Mineral Resource was estimated within constraining
wireframe solids based on a nominal lower cut-off grade of 0.5 g/t gold.
The Mineral Resource is quoted from all blocks above a cut-off grade of
0.5 g/t gold. Differences may occur due to rounding.

Source: Company announcement.

MacPhersons said the results have enabled it to take the project from an original exploration target of 7000 ounces to a near-surface Stage 1 mineral resource statement of 44,600 ounces within 11 months of acquisition.

“The resource represents the first stage review on mineralisation mainly within 65 metres of the surface outcropping of the Tycho Discovery deposit,” MacPhersons Reward said in its ASX announcement.

“However, the deposit remains open at depth and along strike.”

The company has commenced pit optimisation studies for a Stage 1 open cut to be planned for mid-2012.

Part of this pit optimisation study will entail drilling to evaluate mineralisation deeper than 65m and strike extensions.

The company also spoke of another opportunity it believes exists for further extensions of gold mineralisation at a new mineralised zone called the Pumphrey gold prospect.
 
Exploration activity has recently been carried out at Pumphrey one kilometre northwest of Tycho, and 1.5km south of MacPhersons Reward open cut, which returned what the company describedto be a significant gold anomaly.

Follow up auger drilling and trenching has exposed shear zones, quartz veining and carbonaceous shales below one metre to two metres of alluvium cover.
 
Historical exploration close by to Pumphrey included limited drilling, which in intersected:

10 metres at 2.5 grams per tonne gold, including one metres at 8.5 grams per tonne gold, from 50 metres.

Planning of follow up drilling is currently underway.

“This prospect is another new greenfields project initiated by the MacPhersons exploration team and the Directors believe the opportunity exists for extensions of this gold mineralisation,” the company said.

Sandy Creek continues to deliver for Breakaway

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THE DRILL SERGEANT: Breakaway Resources has trailed recent good news with similar tidings having received additional copper-gold intersections from follow-up drilling at the emerging Sandy Creek copper-gold prospect in North Queensland.

Breakaway said the new results both confirm the internal continuity of the shear-hosted mineralisation and highlight the potential for extensions to the mineralised zone both along strike and down-dip.

 

Source: Company announcement

Assay results have been received for the remaining 12 Reverse Circulation (RC) holes drilled as part of the follow-up RC/diamond drilling program, which included:

–    1 metre at 6.23 per cent copper, 0.52 grams per tonne gold, 23.0 grams per tonne silver from 65 metres;

–    2m at 4.64 per cent copper, 0.69g/t gold, 46.3g/t silver from 44m;

–    2m at 2.08 per cent copper, 5.23g/t gold, 8.3g/t silver from 37m;

–    45m at 0.66 per cent copper, 0.14g/t gold, 2.7g/t silver from 36m, including:

–    3m at 2.19 per cent copper, 0.65g/t gold, 6.3g/t silver from 36m;

–    1m at 3.64 per cent copper, 0.71g/t gold, 43.6g/t silver from 48m;

–    4m at 1.16 per cent copper, 0.13g/t gold, 4.8g/t silver from 70m; and

–    1m at3.52 per cent copper, 0.26g/t gold, 23.7g/t silver from 80m.

The company said it considers the results provide further evidence of the emergence of a new copper-gold system at the Sandy Creek prospect.

Sandy Creek lies within Breakaway’s 100 per cent-owned Eloise exploration project, located 70km south-east of Cloncurry, in the Cloncurry Mineral District of North West Queensland.

Breakaway Resources managing director David Hutton said the latest batch of results confirmed the internal continuity of the Sandy Creek prospect over a 600m strike length, reinforcing the strong potential to increase the size of the existing mineralisation both along strike and down-dip.

“It is also encouraging to see evidence for multiple parallel zones of mineralisation,” Hutton said in the company’s announcement to the Australian Securities Exchange.

“Given the close proximity of the prospect to the Eloise copper mine, we believe that there is excellent potential to quickly generate an economic resource at Sandy Creek.”

BMG releases Brazilian maiden

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THE DRILL SERGEANT: Brazilian Metals Group has announced a maiden resource estimate for its Gema Verde iron ore project in northern Minas Gerais, Brazil.

The JORC Code compliant resource estimate includes a total of 458.5 million tonnes in the Measured, Indicated and Inferred categories.

The mineralised resource estimated at the Gema Verde iron ore project includes:

–    230.0 million tonnes at 19.0 per cent iron in the Measured Category;

–    166.5 million tonnes at 16.7 per cent iron in the Indicated Category; and

–    62.0 million tonnes at 17.5 per cent iron in the Inferred Category.

The estimate is based on a drilling program of 41 diamond drill holes for 6,828 metres and 22 reverse circulation drill holes for 2,487 metres.

“The Gema Verde resource marks the achievement of a key milestone for the company, and provides the foundation to progress our strategy of developing an iron ore export enterprise in the medium term,” Brazilian Metals Group chief executive officer Bruce McCraken said in the company’s announcement to the Australian Securities Exchange.

“When combined with our resource target of two to three billion tonnes at our Rio Pardo (Josilene-Scorpion prospect) during 2012, we believe we have the basis for a long term export operation of scale.

“Our next priority is to continue to progress our infrastructure options for our projects – particularly given that the State Government is already progressing plans to provide open access rail spur links to the new Federal east west railway in order to expedite the development of the emerging iron ore projects in the Rio Pardo area.”

BMG said exploration in Brazil historically is not reported in accordance with the JORC Code yet the company undertook infill drilling, re-logging and re-sampling of the 2008 drill core and supplementary analysis to enable an estimate of the mineral resource on the Gema Verde deposit to be completed.

BMG’s goal is to develop a substantial mining enterprise in northern Minas Gerais by establishing a mining, processing and transport operation with the scale to export in excess of 25 million tonnes of premium iron product per annum.

In April 2011 BMG entered into an agreement to acquire 100 per cent of the Gema Verde iron deposit in the Salinas/Rio Pardo area of northern Minas Gerais State, Brazil.

BMG has undertaken confirmatory and in-fill drilling within and adjacent to the mineralised zone at Gema Verde and related studies leading to today’s confirmation of an initial mineralised resource at the project.

Silver Lake makes copper discovery

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THE DRILL SERGEANT: Silver Lake Resources has claimed a high-grade copper discovery has been made at its Hollandaire project, situated within the Eelya Complex, part of the company’s Murchison project located 600 kilometres North of Perth.

Silver Lake has received assay results for seven holes of a recently completed nine drill hole program, which demonstrated the Hollandaire deposit to contain copper, gold and silver with grades up to 45 per cent copper, 5.5 grams per tonne gold and 256 grams per tonne silver.

Results from the drilling include:

9.3 metres at 15.4per cent copper, 2.0 g/t gold & 29.0 g/t silver from 61 metres, including 1.0 metre at 45.5 per cent copper, 2.8 g/t gold & 51 g/t silver and 0.8 metres at 41.2 per cent copper, 5.5 g/t gold and 62 g/t silver;

14.3m at 7.8 per cent copper, 1.0 g/t gold & 20.1 g/t silver from 109m, including 1.7m at 23.0 per cent copper, 1.8 g/t gold and 77.3 g/t silver;

1.9m at 5.2per cent copper, 0.5 g/t gold and 10.7 g/t silver from 97m;

1m at 7.1 per cent copper, 1.3 g/t gold and 17.5 g/t silver from 111m; and

6.3m at 1.9 per cent copper, 0.9 g/t gold and 23.7 g/t silver from 64m.

Silver Lake said the assay results confirm Hollandaire as a high-grade copper deposit that also contains gold and silver.

Another phase of drilling to be conducted will include step out drilling to target the high-grade massive sulphide zones containing supergene chalcocite.

 Drill core showing supergene chalcocite. Source: Company announcement

Drilling currently in progress is targeting the remaining eight electromagnetic conductors the company had previously identified within a 50 square kilometre area at the Eelya Complex.

“The implications of this high grade copper discovery are significant,” Silver Lake Resources managing director Les Davis said in the company’s announcement to the Australian Securities Exchange.

“If the deposit proves to be economic, it can be processed at a marginal capital and operating cost at the nearby planned gold mill.

“In addition, the overall economics at the gold mill are also improved on the back of expanded gold production and a copper credit.

“We have a read on the high grade nature of Hollandaire and look forward to further exploration results to understand the potential size of deposit.”