Peel Mining Encounters Further Copper Hits at Wirlong

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported that drilling at the company’s 100 per cent- owned Wirlong deposit has returned new broad and high-grade copper-mineralised intercepts.

The Wirlong deposit is part of Peel Mining’s South Cobar project, centred around 100km south of Cobar in Western New South Wales.

The recently received assays confirm further broad and high-grade copper intercepts at Wirlong with better results including:

WLRC073
163m at 1.08 per cent copper, 4 grams per tonne silver from 233m to end of hole, including 21m at 2 per cent copper, 9g/t silver from 283m and 7m at 2.09 per cent copper, 6g/t silver from 310m and 11m at 1.73 per cent copper, 5g/t silver from 337m and 19m at 1.58 per cent copper, 5g/t silver from 359m; and

WLRC075
9m at 1.78 per cent copper, 5g/t silver from 294m.

“The wide and high-grade copper hits reported herein, as well as those previously reported, point to the potential for a major Cobar-style copper system to take shape at Wirlong,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“These results, as well as visuals and XRF analyses for drillholes still to be reported, add to an excellent start to the company’s efforts to establish a maiden high-grade copper resource at Wirlong.

“Importantly, the results lend support to our aspiration to become Cobar’s next copper-dominant base and precious metals mining company.

“Once again we look forward to receiving the assays for the additional copper intercepts yielded from drilling since our last report and releasing them in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Corazon Mining Encounters New Lynn Lake Nickel-Copper Conductor

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) achieved initial positive visual results from drilling underway at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba Province, Canada.

Corazon Miing is drilling nickel sulphide geophysical conductor targets identified by a new exploration tool, a MobileMT geophysical survey, immediately west of the Fraser Lake Complex (FLC)/ Matrix Trend, within the Lynn Lake project area.

The initial drilling program will test at least three targets and comprises approximately 1,600m of diamond core drilling, with follow-up work depending on results.

The first hole FLC2021-24 (#24) has been completed, from which Corazon reported highly encouraging definitive visual evidence of sulphide mineralisation, including nickel and copper sulphides.

“The best sulphide mineralisation was intersected on trend from the main geophysical conductor in the first target area,” Corazon Mining said in its ASX announcement.

“This is a potentially significant discovery at Lynn Lake, opening up a new exploration front that includes multiple geophysical conductors for testing.

“The magmatic sulphide appears of high quality.

“It is dominated by pyrrhotite, with chalcopyrite and pentlandite also observed.

“Assay results from the first hole are expected to be available next month and will provide confirmation of nickel-copper tenor and grade.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au

 

The Resources Roadhouse at RIU Explorers Conference 2021

THE CONFERENCE CALLER: The 2021 RIU Explorers Conference in Fremantle was once again a great launching pad for the year ahead for the exploration and emerging mining sector.

The Resources Roadhouse managed to catch up with a number of companies attending the event.

 

Allan Kelly Miramar Resources (ASX: M2R) February 2021

Miramar Resources (ASX: M2R) followed up a recent successful aircore drilling campaign at the company’s Gidji Gold Project near Kalgoorlie by announcing the grant of an Exploration License for its Whaleshark Project in the Gascoyne Region of WA. Executive chairman Allan Kelly zoomed into The Resources Roadhouse to supply details.

Scott Williamson Blackstone Minerals (ASX: BSX) February 2021

Blackstone Minerals (ASX: BSX) is set to become an important player in the downstream processing sector of the Asian battery metals industry. Blackstone Minerals managing director Scott Williamson zoomed into The Resources Roadhouse to explain how this is being achieved.

Breaker Resources Embarks on Golden Safari

THE CONFERENCE CALLER: Words like “predictable” and “repetitive” are not usually uttered by junior explorers as they seek funds to look for gorillas in elephant country. By Mark Fraser

But language like this does appear in market releases from time to time, particularly if an exploration house is looking for something with the right geological recipe, but comes with low risk.

During the December 2020 quarter Breaker Resources executive chairman Tom Sanders used both terms while describing the outcome of a field campaign at the company’s wholly-owned Lake Roe gold project 100 kilometres east of Kalgoorlie-Boulder in Western Australia.

Sanders was referring to new mineralisation Breaker identified via diamond and RC infill drilling below the evolving Bombora open pit ore body, which is just part of a 9km long gold system with an established resource of 23.2 million tonnes at 1.3 grams per tonne gold for 981,000 contained ounces.

This drilling provided Breaker with more firm evidence that Bombora enjoys significant scale, high-grades, continuity of mineralisation and predictable geometry and returned some healthy gold intercepts, including: 9.15 metres at 7g/t from 558.85m (including 2m at 26.15g/t) and 3.68m at 10.58g/t from 607m (with 2.88m at 13.03g/t) from the northern section of the deposit.

In the central part a new steep lode 800m below surface was discovered yielding the deepest intercept to date of: 2.64m at 11.7g/t from 933.08m, including 1.92m at 14.03g/t.

The numbers here will form part of a global resource update planned for April 2021 to incorporate the Bombora, Kopai-Crescent and Claypan areas.

Regular updates are then planned as infill drilling is completed on structures such as the Tura lode.

Sanders said the latest results established the continuity of high-grade mineralisation over a 2km length directly below the existing 1Moz resource.

“They also show that the continuity and geometry of the mineralisation at Bombora is typical of the Archean deposits seen in WA’s Eastern Goldfields,” he noted.

“The lodes are predictable and repetitive and directly comparable to many well-known mines including the Golden Mile deposit.

“This augurs extremely well for the resource update we are planning for April 2021.

“The increasing predictability of structure is helping to identify a lot of new drilling targets.

“For example, we plan to trace some of the big flat structures we are seeing at Kopai-Crescent, Claypan and Bombora eastwards into the magnetite-rich contact of the syenite.

“These are lighting up geochemically in our aircore drilling over a 12km distance.

“We also have a lot of targets identified by aircore drilling over 30km of strike that don’t yet have an RC drill hole.”

Lake Roe comprises five granted tenements and one application covering an overall greenfields area of 556sqkm.

Aside from its close proximity to Kalgoorlie-Boulder, it also sits just 60km south-south east of the operating 3.5Moz Carosue Dam gold mine and 35km north of the historic 900,000 ounce Karonie yellow metal deposit.

Wide-spaced reconnaissance drilling has delineated a large-scale gold anomaly over 8km of strike that includes Bombora, which now extends over a continuous strike length of 3.2km and remains open in all directions.

Following the discovery of Bombora in 2015, Breaker – which listed on the ASX in 2012 with the objective of applying modern, systematic exploration techniques to the largely under-explored Eastern Goldfields superterrane of WA – completed 250,000m of RC and diamond drilling to establish a 1Moz open pit resource and create an extensively de-risked development option in a single pit configuration.

This deposit is a typical Archean, multi-lode gold ore body hosted by dolerite.

It has yielded some of the best drill hits in the state over the past few years , including 17m at 15.85g/t, 7m at 61.78g/t and 32m at 15.31g/t.

Resource drilling started in late 2016 and a maiden resource of 11.9Mt at 1.6g/t gold for 624,000oz contained gold was announced in April 2018.

In September 2019 an upgraded resource of 23.2Mt at 1.3g/t gold for 981,000 oz of contained gold was announced. The company has also released an exploration target of 1.2-1.4Moz at a grade of 4.5-5.5g/t gold over and above the estimated resource.

According to broker Bell Potter, since the start of material step-out drilling in 2020 the company has identified three large areas of discovery targeted for ongoing resource growth and confirmed the project’s underground mining potential.

Importantly, the pattern of drilling and consistent discovery established each quarter over a five-year period bears all the hallmarks of a new gold camp, while regional drilling indicates scope for a 30km long gold system.

 

Email: breaker@breakerresources.com.au

Web: www.breakerresources.com.au

 

Peel Mining Encounters Strong Copper Intersects at Wirlong

THE DRILL SERGEANT: Peel Mining (ASX: PEX) drilled very strong copper mineralised intercepts at the company’s 100 per cent-owned Wirlong deposit, part of Peel’s South Cobar project south of Cobar in Western New South Wales.

Peel Mining reported in late December 2020 that drillholes WLRC068, WLRC069 and WLRC071 had each intersected substantial chalcopyrite-dominant sulphide mineralisation over large downhole widths.

The company has now received assays confirming the presence of very high-grade copper mineralisation that is consistent with the position of an electromagnetic conductor plate, and with a revised structural model, supporting Peel’s geophysical and geological modelling.

Better results include:

WLRC068
9 metres at 4.33 per cent copper, 14 grams per tonne silver, 0.34g/t gold from 181m within 51m at 1.35 per cent copper, 6g/t silver, 0.11g/t gold from 177m;

WLRC069
6m at 8.64 per cent copper, 37g/t silver, 0.11g/t gold from 255m within 15m at 3.8 per cent copper, 17g/t silver, 0.04g/t gold from 255m; and

WLRC071
10m at 4.02 per cent copper, 16g/t silver from 275m within 28m at 1.83 per cent copper, 8g/t silver from 263m.

“These drillholes continue to demonstrate very high copper tenors, akin to those seen in previous drilling,” Peel Mining managing director Rob Tyson said in the company’s ASX announcement.

“The results highlight Peel’s opinion of the potential of Wirlong as we push towards a maiden mineral resource and emphasize our desire to become Cobar’s next copper-dominant base and precious metals mining company.

“We look forward to receiving the assays for the additional copper intercepts yielded from drilling since restart and reporting them in due course.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Saturn Metals Drills Further Mineralisation at Apollo Hill

THE DRILL SERGEANT: Saturn Metals (ASX: STN) hit further important results from ongoing RC drilling at the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project near of Leonora in the Western Australian goldfields.

Recent strong intersections returned from the near-surface resource drilling at Apollo Hill include:

AHRC0480
12 metres at 5.75 grams per tonne gold from 2m, including 8m at 8.83g/t gold from 6m;

AHRC0479
2m at 63.05g/t gold from 8m;

AHRC0477
8m at 4.28g/t gold from 72m, including 4m at 8.34g/t gold from 72m;

AHRC0473
7m at 3.34g/t gold from 80m; and

AHRC0502
15m at 2.09g/t gold from 79m, including 7m at3.84g/t gold from 87m.

Saturn Metals declared the higher-grade intercepts show potential exists to extend and improve the January 2021 reported Mineral Resource of 35.9 million tonnes at 0.8g/t gold for 944,000 ounces of gold, with intersections sitting in ideal locations for additional leverage on the resource and subsequent open pit optimisations.

“An increase in the understanding of the geological controls across the deposit after the 2020 drilling program is allowing us to successfully target higher-grade mineralisation both within and around the newly expanded resource,” Saturn Metals managing director Ian Bamborough said in the company’s ASX announcement.

“Scope for further improvement exists as we continue to apply the learnings from the December-January resource modelling exercise.

“Drilling since early January has focussed on testing for higher grade opportunities across the deposit as well as on several crucial ‘step-out’ exploration initiatives.

“We look forward to reporting assays from the 100 holes that remain pending.

“An aggressive start to the year reflects our continued confidence in the deposit and a great step for our next stage of growth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@saturnmetals.com.au

 

Web: www.saturnmetals.com.au

 

Firefly Resources Drills Yalgoo Gold Potential

THE DRILL SERAGENT: Firefly Resources (ASX: FFR) reported assays returned from 11 RC drill-holes completed prior to Christmas 2020 at the company’s Yalgoo gold project in Western Australia.

Firefly Resources drilled the holes to test along strike and up-dip resource extensions at the Melville gold deposit and in the process achieved strong results from six holes completed at the Applecross prospect, located 300m along-strike to the north.

Results from Applecross included:

FARC004
16 metres at 1.23 grams per tonne gold from 33m, including 3m at 3.6g/t gold and 10m at 1.21g/t gold, including 1m at 3.58g/t gold from 61m (BIF-hosted gold);

FARC0003
5m at 0.91g/t gold from 22m and 3m at 1.05g/t gold from 33m (BIF-hosted gold);

FARC0002
4m at 1.57g/t gold from 166m (Porphyry-hosted gold); and

FARC0001
1m at 2.51g/t gold from 113m and 1m at 1.31g/t gold and 5m at 1.27g/t gold from 138m (Porphyryhosted gold).

Two RC drill-holes were also drilled into the northern extents of the Melville deposit to test an up-dip in-fill opportunity and an interpreted down-dip structural offset for the anticipated JORC 2012 Resource update.

The holes intersected:

FMRC0034
26m at 1.2g/t gold, including 2m at 5.8g/t gold and 3m at 2.02g/t gold from 55m (updip); and

FMR0035
1m at 2.03g/t gold from 73m and 4m at 0.92g/t gold from 100m (down-dip).

“Importantly, the drilling has begun to demonstrate the scale of the opportunity in front of us and answered some important strategic questions,” Firefly Resources managing director Simon Lawson said in the company’s announcement to the Australian Securities Exchange.

“While there is a lot more drilling to do, the significance of these results is that they firm up our structural model for gold emplacement and displacement providing a solid foundation for us to target rapid resource growth locally and beyond.

“All of the gold mineralisation intersected in our recent drilling at the Applecross prospect, as well as at the Melville gold deposit itself, appears to be near local-scale NW-striking faults.

“We believe our work so far implicates those NW-structures as potential conduits for gold mineralising fluids and mineralised porphyry intrusives.

“Those fluids and intrusives have introduced the gold-bearing fluids into the nearby BIF units due to micro-fracturing of the BIF host, increasing the permeability combined with gold’s well-known affinity for iron-rich rock chemistry.

“As such, we need to target these NW-striking structures effectively to target rapid resource growth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@fireflyresources.com.au

 

Web: www.fireflyresources.com.au

 

Kin Mining Drills Towards Bruno-Lewis Resources Upgrade

THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported further assay results from recent in-fill Reverse Circulation (RC) drilling at the Bruno-Lewis deposit at the company’s 100 per cent-owned Cardinia gold project (CGP) in Western Australia.

The results include intersections of zones of shallow high-grade mineralisation, including:

BL20RC107
10 metres at 10.8 grams per tonne gold from 15m;

BL20RC127
14m at 6.09g/t gold from 39m;

BL20RC129
6m at 7.97g/t gold from 26m and 5m at 7.58g/t gold from 59m;

BL20RC124
11m at 4.24g/t gold from 74m; and

BL20RC120
16m at 4.15g/t gold from 40m.

Kin Mining claimed the results confirmed the quality of the Bruno-Lewis deposit, demonstrating strong potential to upgrade and expand the current 311,000 ounces Mineral Resource Estimate as part of an updated MRE due later this quarter.

The drilling was undertaken at Bruno-Lewis as part of a Phase 3 drilling program the company completed in late 2020 with the aim of extending the mineralisation at depth, increasing the average grade and upgrading the classification of the Inferred Mineral Resource at the deposit.

“These results from the northern half of the Bruno-Lewis deposit are some of the best results we have seen from Bruno-Lewis and from the wider Cardinia area,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“While we knew that the north-east dipping lodes that we targeted with this drilling were the source of wide zones of generally lower grade mineralisation further south at Lewis, the intersection of broad high-grade zones at the Bruno end of the deposit, across a substantial strike length, is an extremely pleasing outcome and reflective of the excellent work carried out by the geological team.

“These results reinforce that the Cardinia area in general – and this northern part of Bruno in particular – contains significant areas of high-grade mineralisation both close to surface and at depth.

“The Phase 3 drilling program results continue to demonstrate the exceptional endowment, and enhance the underlying value of the Cardinia Gold Project.

“This drilling will be incorporated as part of a new Mineral Resource Estimate for Bruno-Lewis scheduled for the March quarter, that is anticipated to enhance our project-wide Mineral Resource inventory beyond the 1.15 million ounces figure announced in December 2020.

“The company has a number of exciting new exploration targets to test at Cardinia in 2021 that have similar geology, alteration and mineralisation indicators to those tested during 2020 in the Phase 3 program.

“The high-grade results delivered from the recent Bruno-Lewis drilling campaign provide further evidence that the Cardinia area is a major mineralised gold camp, similar in scale and style to other multi-million ounce gold camps along the Keith-Kilkenny Shear Zone that have supported other gold operations for many years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au