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THE DAILY ROADHOUSE

 

Encounter Resources Intersects Tanami Bedrock Gold

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported on recent drilling activities undertaken at the Afghan and Mojave prospects in the Tanami region of Western Australia with Joint Venture partner Newcrest Mining.

Red 5 Continues Growth at King Of The Hill

THE DRILL SERGEANT: Red 5 Limited declared its decision in the December 2019 Quarter to boost underground drilling capacity at the company’s King of The Hill (KOTH) project in Western Australia with three diamond rigs, has paid off.

Peel Mining Drills New Southern Nights Gold Zone

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported the discovery of strong gold mineralisation associated with a new high-grade zone at the southern end of the Southern Nights deposit from the recent resource upgrade drilling program at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales.

Neometals Produces High Purity Dioxide Hydrolsate

THE BOURSE WHISPERER: Neometals (ASX: NMT) has successfully produced high purity (>98%) titanium hydrolysate (hydrated titanium dioxide ‐ TiO2.2H2O) from the titanium recovery stage of the Australian pilot plant trial at the company’s Barrambie titanium and vanadium project in Western Australia.

Magnetic Resources Encounters Encouraging Gold Results at Lady Julie

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) has completed an initial RC drilling program at the Lady Julie project, not far from the company’s Hawks Nest 9 project, located near Laverton in Western Australia.

 

Magnetic Resources Encounters Encouraging Gold Results at Lady Julie

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) has completed an initial RC drilling program at the Lady Julie project, not far from the company’s Hawks Nest 9 project, located near Laverton in Western Australia.

Magnetic Resources said the drilling had produced promising results along two western mineralised lines, which are only one kilometre and 1.5km east of the HN9 3km-long mineralised project.

Results from the recent drilling include:

MLJRC039
2 metres at 5.44 grams per tonne gold from 29m;

MLJRC073
1m at 18.18g/t gold from 15m;

MLJRC076
6m at 1.79g/t gold from 1m; and

MLJRC083
3m at 1.78g/t gold from 5m.

The recent drilling is being followed up over a total of 1.3km strike length with 30 RC holes.

The company considers the area covering Lady Julie and HN9 to be well endowed and, as such, it has become a focus for potential gold mineralisation over 11.4 square kilometres for a mining centre after more drilling is completed.

Magnetic has found the Lady Julie mineralised zones to be similar to HN9 and occur within altered porphyry and altered porphyry and mafic contacts and in some case with sediment zones.

“The western half of the Lady Julie project is typified by shallow dipping and sub horizontal mineralised zones and is proximal to the contact of mafic and intruding porphyry,” Magnetci Resources said in its ASX announcement.

The Lady Julie tenements have demonstrated strong mineralisation, returning 198 gold intercepts greater than 0.5g/t gold.

These include 88 greater than 1g/t, 33 greater than 2g/t, 19 greater than 3 g/t and 12 greater than 4g/t.

“Both detailed ground magnetics and the remaining soil geochemical surveys will be completed over the Lady Julie tenements followed up with further shallow RC 30-hole program totalling 1520 metres testing mainly for extensions to the north and south and at depth below promising intersections,” Magnetic said.

 

Web: www.magres.com.au

Magnetic Resources Identifies New Horizons and Feeder Zones at Hawks Nest 9

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) reported the latest drilling results from a comprehensive 465 RC-hole program completed at the company’s Hawks Nest prospect, located near Laverton in Western Australia.

Magnetic Resources said the drilling carried out in the central part of Hawks Nest 9 (HN9) demonstrated there to be a distinct bend in the shear zone from SSE to SSW as well as a considerable thickening of the mineralised zone within an altered silicified porphyry.

This porphyry has been delineated over a 400-metre strike length, is open and plunges shallowly to the NNE, and greatly thickens from commonly being 2m to 5m in width up to 10m to 57m.

This newly identified silicified porphyry crosscuts the NNW-trending near-surface flat-dipping mineralisation.

The company has interpreted this may represent a feeder zone of the entire three kilometres-long HN9 shallow-dipping sequence.

Some of the thicker gold-mineralised zones encountered within this porphyry include:

MHNRC497
28 metres at 0.645 grams per tonne gold from 4m;

MHNRC541
57m at 0.5g/t gold from 13m including 27m at 0.69g/t gold from 43m;

MHNRC179
14m at 0.7g/t gold from 25m;

MHNRC211
11m at 1.82g/t gold from 18m;

RFR-31
12m at 1.96g/t gold from 16m in hole; and

MHNRC179
14m at 0.7g/t gold from 25m.

Magnetic believes the newly discovered multiple shallow dipping extensive zones at HN9 could be a potential indicator for deeper mineralisation because all the numerous nearby large deposits in the region including Wallaby (7Moz), Sunrise Dam (10Moz) and Jupiter (1.3Moz) have persistent internal shallow-dipping mineralised lodes that are often called shear zones.

The company also noted that many discoveries in recent times have been made by drilling below 100m because historical drilling was far too shallow.

At HN9 the average hole depth is only 43m providing plenty of scope for upside potential.

“With the Australian gold price at record levels of $2,249 the HN9 project being only 15 kilometres northwest of the Granny Smith operations owned by Gold Fields Australia Pty Ltd and only 10 kilometres north east of the Jupiter operations owned by Dacian Gold Ltd at Laverton in Western Australia, is shaping up and has potential for a large-scale shallow deposit,” Magnetic Resources managing director George Sakalidis said in the company’s announcement to the Australian Securities Exchange.

“This significant three-kilometre mineralised zone is coherent and is not closed off to the north and at depth and is so far defined by 465 RC holes totalling 20,484 metres.

“Also, the discovery of a thick mineralised intrusive porphyry feeder zone up to 57 metres thick and the multiple bands of silicified porphyry from deeper drilling, similar to the Wallaby and Jupiter deposits, is a breakthrough and will be further investigated with an infill deeper drill program planned after assay results for the eight deeper holes are received shortly.”

 

Web: www.magres.com.au

 

Magnetic Resources Extends HN9 Gold Zone

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) claimed a plus 200m-wide gold zone is emerging on the north-eastern part of the company’s Hawks Nest 9 (HN9) gold project near Laverton in Western Australia.

Magnetic Resources completed an extensive drilling program of 250 RC holes at HN9, which remains open downdip and to the north.

The drilling encountered the best shallow grades the company has intersected to date in this north-eastern zone, including:

MHNRC220
4 metres at 10 grams per tonne gold from 28m; and

MHNRC219
4m at 7.1g/t gold from 28m.

The company indicated it has nine new holes planned for this zone to test for further downdip extensions of what it considers to be a highly promising gold mineralised area.

Magnetic highlighted interesting shallow intersections of 8m at 2.9g/t Au from surface in MHNRC270 and 4m at 2.7g/t Au from surface in MHNRC280, which it claimed to have confirmed a very extensive surface gold zone on the western side.

An additional 31 infill holes are planned for this area to further define these thicker zones.

“With the Australian gold price around record levels of $2,050 the HN9 project being only 15 kilometres north-west of the Granny Smith Operations owned by Gold Fields Australia Pty Ltd and only 10 kilometres north-east of the Jupiter Operations owned by Dacian Gold Ltd at Laverton, (HN9) is shaping up and has potential for a large-scale shallow deposit,” Magnetic Resources managing director George Sakalidis said in the company’s announcement to the Australian Securities Exchange.

“This significant 2.1-kilometre target is coherent and is not closed off to the north, south, southwest and downdip to the east and is so far defined by 250 RC holes totalling 9813 metres and is now being tested over a very large 4.5-kilometre length.

“Future deeper drilling will be guided by the outline of the very extensive near surface results both on the downdip north-eastern side with 4 metres at 10 grams per tonne from 28 metres in MHNRC220 and 4 metres at 7.1 grams per tonne in hole MHNRC219 and the surficial gold mineralisation shown up by our latest drilling of 8 metres at 2.9 grams per tonne from surface in MHNRC270.”

 

Website: www.magres.com.au