COMMODITY CAPERS: The Resources Roadhouse welcomed five companies to present at our Northbridge Investment Afternoon yesterday to a room jam packed with punters.
Peak Minerals (ASX: PUA)
Peak Minerals is currently working up a suite of Western Australian copper exploration programs.
These include:
The Green Rocks project consisting of 234 square kilometres of contiguous landholding, incorporating the company’s existing Copper Hills and Lady Alma prospects;
The Earaheedy project that covers an area of 62sqkm sitting jus 28 kilometres southeast of Sandfire Resources (ASX: SFR) DeGrussa copper-gold mine and 18km southeast of the Monty copper-gold mine; and
The Kimberley projects: made up of the Kimberley south project of six individual tenements considered prospective for magmatic sulphides and sediment hosted copper mineralisation, and the Carson project, a large sediment hosted copper target looming over 250km strike in the Kimberleys.
PEAK MINERALS CEO JENNIFER NEILD
Most work of late has focused on Green Rocks where a helicopter borne time domain electromagnetics (HTDEM or Heli-EM) survey over the entire tenement package was completed.
Processing of data from Rixon, Lady Alma demonstrated a 2D inversion providing further confirmation of conductivity centralised around the southern portion of the Rixon intrusion.
Assays received from earlier diamond drilling undertaken at Lady Alma revealed anomalous copper and nickel was intersected.
Galileo Mining (ASX: GAL)
Galileo Mining has provided market watchers, and punters, with a considerable point of difference following the discovery of palladium-platinum-copper-nickel-sulphide at the company’s 100 per cent-owned Norseman project in Western Australia.
Assays from subsequent drilling at Callisto returned hefty zones of mineralisation while confirming initial results from the initial discovery drill hole.
Further assays demonstrated the presence of rhodium in addition to the palladium-platinum-gold-copper-nickel.
GALILEO MINING CHAIRMAN and MANAGING DIRECTOR BRAD UNDERWOOD
A new drilling campaign involving some 20 holes is currently underway at Callisto armed with the task of expanding on the early results with drilling designed at a 50 metre spacing across strike to be followed by drill lines along strike to the north.
The palladium, platinum, gold, copper, nickel, and rhodium mineralisation intersected to date has shown signs grades appear to be increasing towards the eastern target zone.
The company is hopeful the extensive prospective strike, combined with the thick and consistent mineralisation drilled to date, indicates the potential for a large mineralised system.
Aurimin (ASX: AUN)
Aurumin this week released an update on progress of RC and diamond drilling at its 100 per cent-owned Central Sandstone Gold Project.
Aurumin has taking a two two-pronged approach at Sandstone, the first part of which is development of the existing 500,000 ounce Two Mile Hill Resource and the second to get the most out of the Sandstone tenement package.
An auger drilling program is also exploring for new deposits just a couple of kilometres from existing infrastructure.
AURUMIN MANAGING DIRECTOR BRAD VALIUKAS
Elsewhere Aurumin has been keeping well busy at its 100 per cent-owned Mt Palmer project in WA, from which it recently announced results from an orientation reverse circulation (RC) program targeting lithium bearing pegmatites.
The drilling presented variations in the mineralogy of the pegmatites along with the anomalous assay results, which the company has interpreted to demonstrate the degree of fraction occurring within the pegmatite complex within the Vickers Find South prospect, validating its belief in the potential of the area to host lithium mineralisation.
“For a first pass, we are encouraged to have intersected multiple pegmatite units with an indication of fertility for lithium,” Aurumin managing director Brad Valiukas said.
“We have other promising target areas untested with drilling pending as well as targets at depth.”
Podium Minerals (ASX: POD)
Podium Minerals is making some serious progress at the company’s 100 per cent-owned Parks Reef PGM project in Western Australia to make fastidious investors aware of its existence.
The Parks Reef PGM project comprises a 15 kilometres strike of near surface PGM-gold-base metal mineralisation within its mining leases in the Mid-West Region of WA.
Podium is targeting high value metals with strong market fundamentals and growth prospects with a strategy to rapidly develop an alternative supply of PGMs to the world market.
PODIUM MINERALS MANAGING DIRECTOR and CEO SAMM RODDA
Having also identified the presence of rhodium, Podium’s recent Stage 9 drilling efforts revealed a geological package demonstrating high continuity of the PGM reef and high-grade zones from surface to earlier drilled deep holes that hit 500 metres below the surface.
The orebody remains open at depths below these holes.
The company believes the Stage 9 results and subsequent Stage 10 growth drilling targeting PGM ounces will support identification of preferred starter mine areas along the 15km strike of the Parks Reef Orebody.
Torque Minerals (ASX: TOR)
Torque Minerals’ is mainly focused on the company’s 100 per cent-owned Paris project sitting within the area known as the Boulder-Lefroy Fault Zone, a prolific gold-bearing structure and host to numerous mines that have produced many millions of ounces of gold.
The release of recent RC drilling results re-affirmed Torque’s belief of the existence of a very strong, broad zone of high-grade gold extending approximately 50m westbound from its first discovery that intersected a wide gold zone of 24 metres at 10.7 grams per tonne gold.
The latter drilling improved on this by returning results that included:
22PRC038
6m at 22g/t gold from 159m, 3m at 14g/t gold from 171m, within a larger zone of 27m at 8.2g/t gold from 156m.
TORQUE MINERALS EXECUTIVE CHAIRMAN IAN FINCH
Torque has indicated its intention to commence follow up drilling program at Paris as soon as a suitable rig can be secured.
Drilling will entail:
Westbound RC follow up drilling into the Paris prospect high-grade gold zones with a view to rapidly increasing the gold inventory at that prospect;
Deeper RC drilling at Observation to investigate the depth potential of the previous gold discovery. The drilling will also aim to discover if other parallel or ‘offshoot’ gold zones also exist in the immediate area;
Westbound RC drilling at the Caruso prospect to explore mineralisation styles comparable to the Paris prospect; and
RC drilling at Paris South, Carreras, and Pavarotti to test already identified geochemistry anomalies.
