Gold Continues Being Bankable Exploration Target

COMMODITY CAPERS: Gold, it seems, is worth its weight in itself these days and there are plenty of explorers out there eager to find more of it.

One only needs look at the number of companies that last year were spruiking discovery of lithium on their gold tenements to now finding gold on their lithium tenements to see how trends have changed.

With the price of gold hovering around US$2539 per ounce why wouldn’t they?

This week presented plenty to see in the gold exploration sphere, here’s some news from the sector:

 

Barton Gold Holdings (ASX: BGD) reported high-grade assays from the Tarcoola Goldfield at the company’s Tarcoola gold project in South Australia.

Barton Gold Holdings received assays from recent drilling that it declared to have confirmed the new Tolmer gold mineralised system, comprised of quartz veining within a broader zone of alteration.

Barton Gold explained the assays received from approx. 100 metres spaced drill lines indicate potential for a zone of continuous high-grade mineralisation, which is subject to confirmation via further drilling.

Barton is currently planning follow up drilling programs later this year, including aircore and further RC definition drilling, to help define the potential extent of the Tolmer footprint and potential continuity.

“We are excited to confirm that the first significant test of Tarcoola’s new structural model has confirmed a new gold mineralised system at Tolmer,” Barton Gold Holdings managing director Alexander Scanlon said.

“We have also successfully intersected high-grade mineralisation at multiple other targets, demonstrating Tarcoola’s broader potential to host multiple shallow, high-grade gold zones.

“We are also awaiting further assay results from the open pit Perseverance Mine, where we are hoping to convert further shallow mineralisation in the pit floor into additional high-grade Resources for a ‘Stage 1’ operation.”

TO READ THE FULL BARTON GOLD HOLDINGS ANNOUNCEMENT: CLICK HERE

 

Brightstar Resources (ASX: BTR) received first results from RC infill drilling carried out at the Lord Byron deposit, part of the company’s 293,000 ounce Jasper Hills gold project near Laverton in Western Australia.

Brightstar Resources explained the program is targeting gold mineralisation within conceptual open pit shells beneath and between the existing open pits to increase confidence in the current resource.

The drilling is part of a RC and diamond drill-out at Jasper Hills, which the company has designed to infill the resource, improve the JORC classification and provide information for mine planning at the proposed Lord Byron open pit and Fish underground mines announced in the Jasper Hills Scoping Study.

Initial assays included:

LBRC24034
32 metres at 1.25 grams per tonne gold from 53m;

LBRC24007
24m at 1.53g/t gold from 53m;

LBRC24008
5m at 4.29g/t gold from 92m; and

LBRC24054
9m at 1.47g/t gold from 29m, and
7m at 3.36g/t gold from 129m.

“These assays represent the first results from the recently acquired Linden Gold exploration package at the Jasper Hills gold project,” Brightstar resources managing director Alex Rovira said.

“The results are highly encouraging and align with grades and widths we expected from the existing 244,000 ounce gold mineral resource.

“The increased confidence from this infill drilling will feed back into future resource estimates and ultimately help guide the near-term development of open pit mining operations at Lord Byron, as detailed in our recent scoping study, which outlined the highly profitable production of 2.2 million tonnes at 1.6 grams per tonne for 115,000 ounces of gold over three years.”

TO READ THE FULL BRIGHTSAR RESOURCES ANNOUNCEMENT: CLICK HERE

 

Delta Lithium (ASX: DLI) recently completed metallurgical testwork for the Baldock gold deposit at the company’s Mt Ida gold project in Western Australia.

Delta Lithium took receipt of the results just as it also received Mining Approval from DEMIRS for underground mining at Baldock, resulting in the Baldock Area now being fully permitted for open pit and underground mining activities.

The company had also completed an internal Scoping Study, the results of which provided the company with the impetus to approve an additional $5 to $6 million expenditure at Mt Ida.

This expenditure will be focussed on drilling the gold resources with the aim of growing the existing 752,000 ounces at 3.5g/t gold resource to over the magic one million ounce mark to genuine standalone scale.

Delta has commenced reviewing options for a standalone gold plant at Mt Ida.

“Receiving the underground mining approval means Delta now has all approvals in place to commence mining operations at Baldock, during a period of historically high Aussie dollar gold prices,” Delta Lithium managing director James Croser said.

“An internal Scoping Study has demonstrated that Mt Ida has real potential to be a highly profitable gold mine on the basis of the current MRE.

“Metallurgical composites have been tested from along the extent of the 3km strike at Baldock, across multiple of the largest lodes, and show Mt Ida’s gold can be extracted easily utilising a standard CIL adsorption process.

“These important answers have given the company confidence to approve targeted gold drilling at Mt Ida.

“The aim is to grow the existing resources to beyond +1Moz and create the best opportunity for genuine standalone scale.

“The mobilisation of the diamond rig targeting deeper high-grade zones will occur in the coming weeks, to join the existing RC program.”

TO READ THE FULL DELTA LITHIUM ANNOUNCEMENT: CLICK HERE