All Indicators Point to a Big First Day at RIU Explorers 2023
THE CONFERENCE CALLER: The competition for delegate attention is already heating up on the eve of the RIU Explorers Conference with presenting companies releasing eye catching announcements.
Alto Metals (ASX: AME) reported RC drilling at the historic high-grade Oroya Mine, located within the company’s 100 per cent-owned Sandstone gold project intersected high-grade gold mineralisation beyond the boundaries of historical workings.
The wide-spaced step out drilling confirmed Alto’s current geological model as it targets extensions of the Sandstone Main reef and unmined mineralisation to the north-west beyond the north end of the pit, along with extensions down dip to the west.
Medallion Metals (ASX: MM8) reported further expansion of the JORC 2012 Mineral Resource Estimate (MRE) at the company’s Ravensthorpe gold project in Western Australia.
The expanded MRE at Ravensthorpe now totals 19.5 million tonnes at 2.1 grams per tonne gold and 0.3 per cent copper for 1.3 million ounces of gold and 59,000 tonnes of contained copper metal.
There are 790,000 ounces (61%) of the gold and 36,000 tonnes of the copper (60%) metal estimated in the her confidence Indicated category, the remainder is in Inferred.
Azure Minerals (ASX: AZS) intersected lithium-bearing pegmatites while drilling diamond holes in late 2022, testing nickel targets on its Andover project in WA.
Azure drilled ANDD0199 to test a nickel target near the an airborne electromagnetic (VTEM) anomaly, which at a downhole depth of 313.9 metres returned a strong lithium intersection of 1.51 per cent lithium oxide (Li2O) over 7.2m, including an internal high-grade zone of 1.87 per cent Li2O over 3.1m.
Azure interpreted this result to be further evidence of the mineral endowment of Andover as a battery metals project hosting nickel, copper, cobalt and now lithium.
Encounter Resources (ASX: ENR) declared confirmation of lithium and other critical minerals bearing LCT pegmatites at the Crawford target part of the company’s Junction lithium project in the Northern Territory.
“The first on-ground activities completed have identified a trend of lithium and critical minerals bearing LCT pegmatites,” Encounter Resources managing director Will Robinson said.
“Crawford is a new critical minerals occurrence in the North Arunta and is located approx. five kilometres east of Core Lithium’s Ringing Rocks prospect which further serves to highlight the potential of the broader Junction region.”
Dreadnought Resources (ASX: DRE) announced an Exploration Target for the approx. 40kms strike of the Yin Ironstone Complex within the company’s 100 per cent-owned Mangaroon project, located in the Gascoyne Region of WA.
The Exploration Target follows Dreadnought’s recent expansion of the Yin Ironstone Complex to 43kms of strike, combined with extensive geological knowledge of the REE ironstones in the region has provided the foundation for the Exploration Target.
The Exploration Target covers over 40kms of the near surface ironstones at Yin and importantly, excludes the current Yin Resource, any mineralisation at depth (underground potential) and the C1-C7 carbonatites.
Black Cat Syndicate (ASX: BC8) updated the JORC 2012 Mineral Resource at Paulsens Underground, part of the company’s 100 per cent-owned Paulsens Gold Operation in WA.
Black Cat has increased the total gold Resources at the Paulsens Gold Operation by 73 per cent to 401,000 ounces at 3.3g/t gold.
Total Measured and Indicated Resources increased 65 per cent to 163,000 ounces at 8g/t gold.
“To triple the underground Resource after only two months of drilling is a sensational start to our growth and mining ambitions at Paulsens,” Black Cat Syndicate managing director Gareth Solly said.
“We see huge upside in the near mine area as well as potential repeat targets and the greater region.”
De Grey Mining (ASX: DEG) has identified a new structurally controlled gold zone at the Withnell gold deposit, within the company’s Mallina gold project in the Pilbara.
De Grey reported drilling results from Withnell South it said provides opportunity to increase shallow, open pit resources.
Multiple new lodes were defined over 800m of strike and 200m vertical depth remaining open to the east and at depth.
The company believes these demonstrate the potential to increase the resource base and future production from its existing, structurally hosted, regional deposits.
Caspin Resources (ASX: CPN) reported on final drilling, rock chip and soil geochemistry results from recent programs at the company’s Mount Squires project in WA.
There recent activity identified a two kilometres long gold in soil anomaly on the Handpump Fault, known as the Regal prospect, which is the largest and strongest gold geochemical anomaly Caspin has defined at the project to date.
This is surrounded by several other smaller gold anomalies.
Further gold and molybdenum results were achieved from aircore drilling at the Duchess prospect where deeper RC drill testing is to be carried out in 2023.