Calidus Resources Reports Increase in Size of Spear ill Lithium Discovery

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported further results achieved at the Spear Hill lithium discovery in Western Australia by Pirra Lithium, which is owned equally by Calidus and Haoma Mining NL.

Calidus Resources said recent rock-chip sampling and mapping by Pirra Lithium had almost doubled the known strike length of outcropping lithium-bearing pegmatites at the Spear Hill lithium discovery to 4.3 kilometres.

Assays received for a further 30 rock-chip samples from a newly discovered pegmatite swarm 1.7km south-west of the original discovery area yielded lithium grades up to 2.35 per cent and 808ppm tantalum.

The samples were collected from three exposed pegmatites and areas of muscovite and lepidolite alteration over nearly 1.8km of strike length.

“This discovery of another significant pegmatite outcrop in the vicinity of the previously announced results confirms the presence of a significant lithium pegmatite system,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“These results have provided additional drill targets that demand to be tested.

“The expansion of the mineralised system at Spear Hill reinforces the substantial prospectivity across the large tenement package and rights owned by Pirra Lithium.

“As a result, the shareholders of Pirra Lithium have decided to commence a demerger process and IPO of Pirra Lithium later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@calidus.com.au

 

Web: www.calidus.com.au

 

Black Cat Syndicate Eyes 302oz Gold Production on Release of Kal East PFS

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) released results from a Preliminary Feasibility Study (PFS) completed on the company’s Kal East gold project in Western Australia.

Black Cat Syndicate reported the PFS has defined initial Ore Reserves and a robust, base case production plan for Kal East, which already has approvals in place and a short pathway to commencement of construction when labour market conditions improve.

The PFS has determined a robust, base case, production plan for Kal East of 301,700 ounces to generate an Operating Cashflow (after all capital and before tax) of $105.9 million at an All-in Sustaining Cost of $1,510 per ounce ($2,500/oz gold price).

The initial production plan is based on 5.5 years of production at an average of 56,000 ounces per annum with growth potential beyond that.

The company indicated that a final investment decision for Kal East will be deferred until construction conditions improve with near-term development focus on the newly acquired Coyote and Paulsens operations.

Drilling is scheduled to resume at Kal East this month to support Resource upgrades and Ore Reserve increases including final grade control drilling at Myhree.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

“In just four years Black Cat has gone from a junior explorer with 80 square kilometres of ground and nil Resources to a multi-project near term gold producer with Kal East and the near finalised acquisitions of Coyote and Paulsens,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“This initial Kal East Ore Reserve and the base case production plan from the PFS is encouraging and shows attractive metrics from only a portion of the growing 1.3 million ounces Resource base.

“Our stated objective was to define an initial three-year Ore Reserve which has been exceeded with clear near-term growth potential.

“Recent mining cost increases have been factored into the Study capital and operating costs and Kal East remains highly competitive against other operating WA gold operations.

“The company has deferred the decision to build the Kal East processing facility until labour availability conditions improve and allow construction to commence.

“The project is fully permitted and we will use the deferral period to further enhance the Kal East opportunity.

“The Resources included in the base case remain open with strong potential for additional Ore Reserves.

“We are also considering options to mine and toll treat the Myhree/Boundary deposits to generate early cashflow while working on restart plans at Coyote and Paulsens.

“Coyote and Paulsens are regionally significant assets in gold rich regions.

“The installed infrastructure at these projects has an estimated replacement value of more than $140 millionn.

“The in-situ high-grade Resources at each project have the potential to deliver rapid cashflow due to the anticipated low capital restart costs.

“Black Cat is working towards a five-year vision and plan to have all three of our operations producing gold.”

 

 

 

Email: admin@bc8.com.au

Web: www.blackcatsyndicate.com.au

 

Calidus Resources Drills Open Pit Potential at Blue Spec

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported drilling results it declared highlights potential for an open-pit operation at the company’s Blue Spec East prospect in the Pilbara.

Calidus Resources achieved the results during a RC drilling campaign conducted in December 2021 and January 2022.

Thirteen holes were drilled with the best intercepts, using a cut-off of 0.5g/t gold, consisting of:

22BSRC010
52 metres at 1.4 grams per tonne gold from 22m;

22BSRC009
20m at 1.41g/t gold from 44m;

22SBSRC018
10m at 1.95g/t gold from 81m;

22BSRC017
10m at 1.26g/t gold from 34m; and

22BSRC016
4m at 2.42g/t gold from 12m.

The company explained the results had better defined the shape of previously identified intersections and confirm that known mineralisation at depth continues to near the surface where it may be amenable to open-pit mining.

Follow-up drilling is needed to determine the potential for an open-pit resource.

“These results clearly demonstrate there is opportunity for additional mine life at Blue Spec beyond the current resource,”

“In addition, anomalous gold results from a parallel shear are encouraging for the wider area where targeted soil sampling is scheduled to begin shortly.

“At Marble Bar, the initial drilling program has demonstrated the presence of shallow high-grade gold down dip from the old workings.

“These results will be followed up with further drilling as this area may provide additional high-grade ore to Warrawoona given it is just 25 kilometres from the processing plant.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@calidus.com.au

 

Web: www.calidus.com.au

 

Blackstone Minerals Claims New Massive Nickel Sulphide Discoveries at Ta Khoa

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THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) updated the market on drilling activities underway at the company’s Ta Khoa nickel project (TKNP) in northern Vietnam.

Blackstone Minerals has drilled at two new massive nickel sulphide targets within the Ta Khoa district the company has claimed to have identified Massive Sulphide Vein (MSV), Semi-Massive Sulphide Vein (SMSV) and Net-textured Sulphide (NTS) mineralisation.

At the Suoi Phang prospect, drill hole SP22-01 intersected 2.95 metres of sulphide (including MSV, SMSV and NTS), from which Portable XRF readings indicated the presence of up to 20 per cent nickel.

At the Suoi Chanh prospect, the second drill hole SC22-02 intersected SMSV consistent with the company’s Electromagnetic (EM) targeting.

Elsewhere at Ta Khoa, Blackstone has continued drilling on its most advanced MSV deposits, Ban Chang and King Snake.

This has primarily focused on upgrading current resources into a higher confidence category.

Results from infill drilling at Ban Chang include:

BC21-66
9.6 metres at 2.02 per cent nickel, 1.92 per cent copper, 0.1 per cent cobalt and 3.04 grams per tonne PGE from 60.1m, including 4.8m at 3.38 per cent nickel, 3.07 per cent copper, 0.16 per cent cobalt and 5.29g/t PGE from 63.7m.

At King Snake, the most recent drilling has indicated potential for the deposit to continue to plunge further west and at depth.

Results from infill drilling at King Snake include:

KS21-34
15.7m at 1.25 per cent nickel, 0.69 per cent copper, 0.05 per cent cobalt and 1.66g/t PGE from 249.5m, including 6.02m at 2.18 per cent nickel, 0.62 per cent copper, 0.08 per cent cobalt and 2.97g/t PGE from 250.4m.

“It is an exciting phase of exploration for the company as we start to look at massive sulphide opportunities in addition to Blackstone’s established resources at Ban Chang and King Snake,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Suoi Chanh is yet another example of our in-house geophysics teams proven track record, with success being achieved from the second drill hole.

“We look forward to continuing to systematically assess the massive sulphide potential at Ta Khoa.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Aeris Resources Intersects High-Grade Gold at Golden Plateau

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THE DRILL SERGEANT: Aeris Resources (ASX: AIS) reported on progress of resource definition drilling underway at the Golden Plateau deposit, located within the company’s 100 per cent-owned Cracow tenement package in southeast Queensland.

The Golden Plateau deposit was previously mined at Cracow, historically producing over 850,000 ounces of gold from 1930s through to 1990s.

Aeris Resources’ resource definition drilling program is targeting remnants and extensions to Golden Plateau and has, to date, returned results with high-grade drill intersections from the north lode, including:

GPS053
11 metres at 7.4 grams per tonne gold from 6.4m;

GPS058
10m at 4.1g/t gold from 5.6m, including 1.5m at 9.3g/t gold from 0.8m; and

GPS052
8m at 3.3g/t gold from 3.9m.

Aeris said the current drilling campaign had also improved its geological understanding of vein structures at and around Golden Plateau.

“The latest drilling results at Golden Plateau are very exciting,” Aeris Resources executive chairman Andre Labuschagne said in the company’s ASX announcement.

“Not only are we getting high-grade gold intercepts within the footprint of the known deposit but we have also identified multiple new north-south structures.

“Our understanding of the structural controls on the gold mineralisation has improved significantly as a result of this new work, which materially increases the prospectivity of Golden Plateau.

“These new structures have largely been ignored during previous drill campaigns at Golden Plateau and remain untested.

“The current drill program will now focus on testing the potential for high grade shoots within these structures.

“Resource definition drilling is currently underway with the target of releasing a maiden Mineral Resource at Golden Plateau in the September quarter.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@aerisresources.com.au

 

Web: www.aerisresources.com.au

 

Musgrave Minerals increases Cue Mineral Resource

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported an update to the Mineral Resource estimate on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia.

Musgrave Minerals declared the total Cue project MRE to now stand at 12.3 million tonnes at 2.3 grams per tonne gold for 927,000 ounces of contained gold with the high-grade Mineral Resources hosted in the Break of Day trend totalling 982,000 tonnes at 10.4g/t gold for 327,000 ounces of contained gold.

Musgrave expects the near-surface high-grade component of its total resource base to drive future value and the company’s exploration efforts that will continue to focus on identifying and testing near-surface, high-grade gold targets to further grow the resource base.

The updated MRE includes healthy contributions from the new White Heat-Mosaic and Big Sky deposits where drilling to date has focussed on the top 100 to 160m.

These maiden Mineral Resource estimates (Indicated and Inferred) are:

White Heat-Mosaic: 185,000 tonnes at 11g/t gold for 65,000 ounces; and
Big Sky: 4.65 million tonnes at 1.2g/t gold for 173,000 ounces.

“This is a significant result for the company and the growth in Mineral Resources will improve the future development potential of the project,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“The ongoing focus is to continue to grow our near-surface high-grade resources at Cue and progress PFS level studies to accommodate these new deposits and potential future resource upgrades.

“The deposits sit on a combination of granted Mining and Exploration Licences in a region with excellent infrastructure within a favourable mining jurisdiction.

“This latest Mineral Resource estimate increases the near surface, potentially, open pittable gold ounces while also increasing confidence, with approximately 47 per cent of resource ounces in the Indicated category.

“The company is confident it can continue to expand its resource base as exploration drilling continues to intersect high-grade gold on new regional targets.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Aruma Resources Drills High-Grade Lithium-Rubidium Results at Mt Deans

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) reported high-grade lithium and rubidium results from the company’s 100 per cent-owned Mt Deans lithium project in the south-east of Western Australia.

Aruma Resources received high-grade lithium of up to 1.96 per cent Li2O (lithium oxide) and very high-grade rubidium of up to 1.42 per cent Rb2O (rubidium oxide), plus caesium values up to 1,550ppm, from a recently completed surface rock chip sampling program.

A total of 11 rock chip samples along a 500 metres strike were taken after the company had completed the first phase of drilling at Mt Deans that had delivered positive results including high-grade rubidium.

The subsequent rock chip sampling program was designed to test for strike extensions to the interpreted pegmatite zone at Mt Deans which has a strike length of at least 1,500m, and help refine targets for the second phase of the drilling.

“The first phase of drilling delivered highly encouraging lithium and rubidium grades in numerous intersections, some with significant widths,” Aruma Resources managing director Peter Schwann said in the company’s ASX announcement.

“The follow-up rock chip sampling program has returned excellent results and will help refine our drill targeting for the remaining holes to be completed in our maiden drilling program at Mt Deans.

“Our initial drilling represented just the start of exploration at the project, and based on the results, we moved quickly to undertake the surface sampling to investigate strike variations in grades.

“The high-grade lithium and rubidium rock chip results from the Mt Deans pegmatite is highly encouraging, and our upcoming drilling will seek to deliver further validation of Mt Deans’ potential as a valuable multi-metal asset.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@arumaresources.com

 

Web: www.arumaresources.com

 

Galileo Mining Assays Rhodium in Callisto Drillhole

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THE DRILL SERGEANT: Galileo Mining (ASX: GAL) has now included rhodium assays from its previously announced drill hole NRC266 from the Callisto discovery at the company’s 100 per cent-owned Norseman project in Western Australia.

Galileo Mining reported an updated intersection for NRC266, to now be:

NRC266
33 metres at 2.05 grams per tonne 4E (palladium + platinum + gold + rhodium) (1.64g/t palladium, 0.28g/t platinum, 0.09g/t gold, 0.05g/t rhodium), 0.32 per cent copper and 0.3 per cent nickel from 144m.

Galileo has interpreted the results from the Callisto discovery to demonstrate similarities with South Africa’s Platreef deposits with disseminated sulphide mineralisation hosted in the lower unit of a layered ultramafic sill.

“The rhodium assays confirm the presence of this valuable metal within the Callisto mineralised system,” Galileo Mining managing director Brad Underwood said in the company’s ASX announcement.

“With step out drilling expected to commence next week we will now be including rhodium in the assay suite for any further sulphide rich intersections.

“Based on the six drill holes completed so far at Callisto we anticipate more sulphide intersections in the next drill program and are hopeful that an increase in sulphide content will be matched by an increase in metal content.

“We are excited to be starting drilling again so soon after the recent discovery announcement and look forward to updating the market with results as they become available.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@galmining.com.au

 

Web: www.galileomining.com.au

 

Calidus Resources Commences Drilling at Spear Hill Lithium Project

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THE DRILL SERGEANT: With is Warrawoona gold project up and running, Calidus Resources (ASX: CAI) has now commenced drilling at the company’s 50 per cent-owned Pirra Lithium Joint Venture with Haoma Mining in the Pilbara region of Western Australia.

Calidus Resources reported drilling has started at the Spear Hill discovery of a program to comprise of 38 holes to test a pegmatite that has previously yielded encouraging assays.

The drilling program is expected to take about three weeks to complete with samples to be sent to the laboratory immediately after the completion of drilling.

“We believe Spear Hill has excellent potential, as indicated by the high-grade lithium rock-chip results identified earlier this year,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“The commencement of the maiden drill program so soon after the initial discovery demonstrates the company’s determination to accelerate exploration progress at the project.

“Concurrently we are actively assessing the lithium potential across the wider Spear Hill area and the rest of the tenement package, utilizing interpretation of remotely sensed data, field mapping, and rock-chip sampling.

“Exploration to date has only tested a fraction of the large tenement package and rights owned by Pirra Lithium, and we are excited to unlock the full potential of the Pilbara.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@calidus.com.au

 

Web: www.calidus.com.au

 

Alchemy Resources Maps Double Karonie Strike Length

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THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has identified additional outcropping pegmatites at the company’s 100 per cent-owned Karonie gold project located east of Kalgoorlie in Western Australia.

Alchemy Resources recently concluded mapping that identified a pegmatite cluster that has doubled the strike length at the project’s Cherry and Hickory prospects, as well as identifying multiple outcropping pegmatites at Pecan in the north.

At Cherry and Hickory pegmatites have now been defined over an area of 1.5 kilometres by 2 kilometres, doubling the previous mapped strike extent.

At the Pecan prospect, outcropping pegmatites have been identified over a strike length of 400 metres.

“The mapping has now identified a cluster of pegmatites at Karonie,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“At Hickory and Cherry, we’ve doubled the strike length of mapped pegmatites and at Pecan we’ve discovered multiple pegmatite outcrops across a one kilometre wide area.

“We expect the infill soils will zero in on zones which sit under the thin surface cover, and this will help us plan the next steps.

“The rock-chip assays are all showing very high tenor pathfinder anomalism which plots within the highly evolved and fractionated granite chemistry, telling us that we are exploring in exactly the right spot.

“Our next steps will be the commencement of infill soils and detailed structural mapping due to start imminently to zero in on target zones for drilling later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@alchemyresources.com.au

 

Web: www.alchemyresources.com.au