Posts

Codrus Minerals Completes Initial Field Work at Karloning REE-Niobium Project

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) reported completion of multiple first-pass exploration workstreams at the company’s recently acquired Karloning REE-niobium project in the wheatbelt region of Western Australia.

Codrus Minerals announced a farm-in and Joint Venture agreement to earn up to a 90 per cent interest in the Karloning project with Talgomine Minerals in November 2022.

Recent activities have included soil sampling, drone magnetics and ground radiometric surveys while initial drilling to follow-up high-grade results from recently announced grab samples is now underway.

Datasets collected will be used by the company to assist with drill targeting to test for the high-grade, high-value permanent magnet rare earths dysprosium, neodymium, terbium and praseodymium.

“We are delighted to have completed these initial fieldwork programs, which will provide robust datasets to assist with drill targeting for our upcoming maiden drilling program at Karloning,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“Results from our grab sampling program in 2022 confirmed exceptional grades across a suite of key rare earth elements, with these latest surveys expected to provide a clearer insight into the local geology.

“Our intention is to complete permitting for drilling as quickly as possible to ensure we can get the drill rigs underway as soon as data integration and drill targeting is complete.”

Codrus believes the Karloning project provides an outstanding opportunity for the company to diversify into the critical minerals space and build on its current gold and copper assets.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Codrus Minerals Highlights Multiple Gold Zones at Middle Creek Project

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) headed off to Diggers & Dealers with a spring in its step following the release of encouraging assay results from a recently completed trenching program at the company’s 100 per cent-owned Middle Creek gold project, located near Nullagine in the Pilbara of Western Australia.

A recently completed work program involved excavation of 11 trenches to allow Codrus to carry out detailed mapping and sampling in areas where multiple gold anomalies were identified from previous soil and rock chip sampling.

Codrus reported the results of this program support the company’s view that this project has strong potential to host gold mineralisation.

Middle Creek is in a good neighbourhood with Novo Resources Corp nearby with its Beaton’s Creek gold project mining and processing ore at the Golden Eagle Plant located approximately 15km to the south-west of Codrus’ Middle Creek tenements.

To the north of Middle Creek, Calidus Resources is completing a Definitive Feasibility Study (DFS) on its high-grade Blue Spec gold project that contains Mineral Resources of 415,000 tonnes at 16.35 grams per tonne gold for 219,000 ounces of gold approximately 7km to the north-east.

“We are very encouraged by these results, which provide a clear indication of the widespread nature of gold mineralisation at Middle Creek,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“Given these tenements have never had a single drill-hole into them, this shows that the project is wide open for a significant discovery.

“The strategic location of the tenement package in the heart of the Nullagine gold mining district provides an important added imperative to our exploration approach.

“Calidus Resources has recently made the successful transition to production at Warrawoona and is completing a Definitive Feasibility Study on the Blue Spec deposit, located near our Middle Creek tenements.

“Blue Spec is an important part of their growth pipeline in the district.

“Other key players in this revitalised district include Novo Resources at their nearby Beatons Creek project, and of course the world-class Hemi deposit, owned by De Grey Mining.

“We are looking forward to receiving the remaining results from the final two trenches, which will pave the way for us to complete a targeting exercise to determine the next key steps.

“We have recently strengthened our strategic footprint with an application for a new package of tenements that complements our existing position across the Middle Creek Mining Centre.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au

 

Codrus Minerals Drills Widespread Gold at Red Gate Gold Project

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) received assay results from the Phase 2 Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Red Gate gold project in Western Australia.

Codrus Minerals said the results had confirmed the potential for a large-scale gold mineralised system.

The company explained the recent phase of wide-spaced drilling was designed to further unlock the geological potential of the Red Gate project as the company works to define the overall scale and potential of the mineralised system that has been identified to date.

Assay results from the second drill program include:

Porphyry West

RGRC029
10m at 1.19 grams per tonne gold from 52m down-hole, including 1m at 5.51g/t gold from 58m
10m at 1.4g/t gold from 66m down-hole; and

RGRC030
1m at 2.01g/t gold from 133m down-hole
4m at 1.08g/t gold from 149m down-hole.

Porphyry North

RGRC035
14m at 1.06g/t gold from 18m down-hole, including 2m at 3.97g/t gold from 18m
1m at 9.24g/t gold from 37m down-hole; and

RGRC039
1m at 2.83g/t gold from 41m down-hole.

“Our second phase of RC drilling at Red Gate has delivered very encouraging results over a significant area,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“The purpose of the program was to scope out the broader potential of the mineralised system and improve our understanding of the geological context and structural controls on the mineralisation.

“It has been very successful on both counts.

“Seeing grades of up to nine grams per tonne as well as several broader, lower grade zones, distributed over an extensive area, is a promising result which confirms the significant gold endowment of this under-explored project.

“Most of the individual zones of mineralisation encountered remain open along strike and down-plunge.

“This highlights the significant opportunity to define resources with further drilling.

“Given the strategic location of this project in the heart of an active gold mining district, Red Gate is a valuable and important asset for Codrus.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

Web: www.codrusminerals.com.au

 

 

Codrus Minerals Commences Red Gate RC Drilling Program

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) announced commencement of a major new phase of Reverse Circulation (RC) drilling at the company’s 100 per cent-owned Red Gate gold project in Western Australia.

Codrus Minerals explained the new phase of drilling is designed to further unlock the geological potential of the Red Gate project while reflecting the company’s commitment to comprehensively define the scale of the mineralised system that has been identified to date.

The company considers the project to have potential to host both wide, higher-grade and lower-grade zones of mineralisation, with mineralisation widely distributed across all of the key prospects it has tested to date, and in particular at the Porphyry West and Porphyry North.

“We are excited that drilling is once again underway at Red Gate, building on the excellent outcomes of the initial drilling we completed earlier this year,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“While our geological understanding of the project is still developing, we know that it has potential to host two distinct styles of mineralisation, which we believe reflects the potential for a much larger system.

“We have seen both broader, high-grade zones and broader, lower grade zones, pointing to a significant level of gold endowment across the project.

“This next program is designed to give us a much clearer handle on how to vector into the higher-grade zones while expanding the overall mineralised envelope.

“Success during this program would pave the way for us to design potential resource definition programs.

“Given its location in a very active gold mining district, any ounces that we define will add significant strategic value for the company given their proximity to several major operating mills.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

Web: www.codrusminerals.com.au

 

Codrus Minerals Identifies Additional Broad Gold Zones at Red Gate

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) reported further assay results from Reverse Circulation (RC) drilling completed last year at the company’s 100 per cent- owned Red Gate gold project near Kalgoorlie in Western Australia.

Codrus Minerals said the final assays from the Red Gate drilling demonstrate potential for the project to host both wide lower-grade and narrower higher-grade zones of mineralisation, with mineralisation widely distributed across the key prospects tested to date (Porphyry North, Porphyry West, Grunters, Arieta and Vonu).

At Porphyry West multiple intercepts totalling 51m of gold mineralisation were encountered, including:

RGRC027
8 metres at 0.44 grams per tonne gold from 12m down hole;
23m at 0.61g/t gold from 37m down-hole; and
20m at 0.42g/t gold from 72m down-hole.

At Porphyry North Codrus intersected further mineralisation totalling 45m of gold, including:

RGRC021
20m at 0.56g/t Au from 16m down-hole;
7m at 0.84g/t from 39m down-hole;
4m at 0.35g/t from 56m down-hole;
4m at 0.73g/t from 84m down-hole; and
10m at 0.36g/t from 100m down-hole.

Codrus is now planning follow-up drilling, which is expected to commence in the coming weeks, along with further UAV (drone) magnetic surveys to assist in enhancing the structural interpretation.

“We are very pleased with the outcomes of our maiden drill program at Red Gate,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“While our geological understanding of the project is still developing, the two key takeaways for us are the extensive nature of the gold mineralisation encountered and the fact that the project is clearly capable of hosting both wide zones of lower-grade mineralisation and narrower, high grade gold zones.

“The presence of multiple zones of gold mineralisation in two key holes at both Porphyry North and Porphyry West is an excellent sign, suggesting that there is a significant amount of metal in the system at Red Gate.

“Our focus is now on establishing vectors to the higher-grade zones and to expand the overall mineralised envelope.

“We are very encouraged by what we have seen to date, particularly given the location of this project in a Tier-1 mining district close to several major operating mines.

“We are very close to locking in a drill rig for the follow-up program, and we look forward to providing further updates on our next phase of exploration at Red Gate in the very near future.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au

 

Codrus Minerals Scores High-Grade Drill Results at Red Gate Gold Project

/in , /by

THE DRILL SERGEANT: On the eve of the 2022 RIU Explorers Conference, Codrus Minerals (ASX: CDR) reported encouraging initial assay results from a maiden Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Red Gate gold project in Western Australia.

Codrus Minerals’ Red Gate project is located just north of Kalgoorlie in WA’s Edjudina mining district, immediately along strike from Northern Star Resources’ Porphyry Mining Centre.

Approximately sixty percent of the assays from the drill program have been returned so far with the remainder expected in the coming weeks.

Results received to date, include:

RGRC002
23m at 3.82 grams per tonne gold from 14m down-hole, including 5m at 14.29g/t gold from 27m;

RGRC003
1m at 5.75g/t gold from 15m down-hole and 24m at 1.04g/t gold from 42m down-hole; and

RGRC011
1m at 21.35g/t gold from 80m down-hole.

“We are pleased to announce the results of our maiden drill program at Red Gate,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“The results not only confirm the style and tenor of mineralisation at the Porphyry West prospect but have also identified additional new areas for the company to pursue.

“We are pleased to be able to report such strong results from our first expansive gold drilling program in WA, and we are looking forward to getting back into the field to resume drilling once we finalised a comprehensive interpretation of our latest results for the full drill program.

“The results to date confirm that Red Gate is a project with significant potential.

“Given its location in a Tier-1 mining district close to several major operating mines, this is a project that is very much front and centre of our portfolio as a focus for follow-up exploration in 2022 and beyond.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au

 

Codrus Minerals Ramps Up Bull Run Exploration

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) is picking up speed on exploration activities at the company’s Bull Run gold project, located in Baker County, eastern Oregon, USA.

Codrus Minerals has commenced a ground-based geophysical exploration program to assist with drill target definition having secured additional strategic mineral claims and identifying prospective new anomalous zones via soil sampling programs.

The Bull Run project forms part of Codrus’ global exploration portfolio, which also includes three projects in Tier-1 locations in Western Australia.

The most recent exploration work was completed by Blackstone Minerals prior to the spin-out and listing of Codrus Minerals on the ASX last year.

This consisted of soil geochemistry sampling over the claims which identified two gold-in-soil trends.

The first of these is a north trend running approximately parallel to the serpentinite-Bull Run granodiorite contact and the dominant dyke strike through the Bull Run project area.

The second, a North-east to north-northeast trend parallel to the dominant vein set within the Bull Run granodiorite, highlighted by the Whited, Payton and Sunrise veins.

In the last quarter of 2021, Codrus pegged an additional 12 mineral claims, covering the prospective zone to the south that are 100 per cent-owned by the company.

“This is the first significant modern exploration to be undertaken at Bull Run in several decades and is an exciting time for the company,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“We have long regarded Bull Run as a high-potential opportunity for significant gold and copper discoveries and we are really pleased to have teams on the ground actively working to unlock this potential.

“The strategic additions to our tenure secured last year have already led to the identification of a significant new gold-in-soil anomaly and we are really excited to have a major 3D DCIP IP survey now underway.

“We believe that this is the most appropriate geophysical technique to advance the Project, and we are really looking forward to seeing the results.

“The results will be combined with our other supporting datasets to help us define drill targets.

“In anticipation of drilling this year, we have already commenced the permitting process in-country and we are looking forward to what should be a big year for Codrus at our key US asset.

“We are also looking forward to receiving assay results from the recently completed drilling at the Red Gate Project in WA.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au

 

Codrus Metals RC Drilling at Red Gate Gold Project

/in , /by

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) has commenced Reverse Circulation (RC) drilling at the company’s Red Gate gold project, just north of Kalgoorlie in Western Australia.

Codrus Minerals is focussing on targets identified by Blackstone Minerals and other previous tenement holders on the Porphyry North gold prospect.

The earlier work had provided Codrus with three chargeable bodies of interest, namely:

PN1 – a shallow, moderately chargeable body coincident with the known and well-drilled Porphyry North gold mineralisation;

PN2 – a moderately chargeable, resistive body partly coincident with the reconnaissance drilled Porphyry West prospect; and

PN3 – a deep, broad moderately chargeable, resistive body at a depth of 300–400m to the south-west and possibly loosely connected with Porphyry West. This poorly constrained anomaly is now referred to as the Arieta target.

“Historical work programs at the Red Gate project have indicated strong potential for the project to host significant mineralisation,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“We’re delighted to now have our maiden program of 2,500 metres of RC drilling underway, with the results expected to deliver an important insight into several of the key anomalies at Red Gate to assist with ongoing targeting.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@codrusminerals.com.au

 

Web: www.codrusminerals.com.au