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THE DAILY ROADHOUSE

 

Blackstone Minerals Hits Big Numbers at King Cobra Discovery

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) announced impressive drilling intersections from the King Cobra discovery at the company’s Ta Khoa nickel project in Northern Vietnam.

Red 5 Continues to Advance King of the Hill Final Feasibility Study

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) reported continued progress with the Final Feasibility Study (FFS) for the proposed stand-alone integrated bulk open pit and underground mining and processing operation at the company’s King of the Hills (KOTH) gold project in Western Australia.

PolarX Identifies Mineralised Alaskan Strike Potential

THE DRILL SERGEANT: PolarX Limited (ASX: PXX) has identified potential for approx. 600 metres of mineralised strike length at the Zackly East Skarn within the company’s Alaska Range project.

Alloy Resources Reports on RTX JV Activity

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) reported on recent progress at the company’s farm-in agreement with Rio Tinto Exploration Pty Limited (RTX), under which RTX is earning an initial 70 per cent interest in E45/4807 in the Paterson Province of Western Australia.

 

Red 5 Continues to Advance King of the Hill Final Feasibility Study

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) reported continued progress with the Final Feasibility Study (FFS) for the proposed stand-alone integrated bulk open pit and underground mining and processing operation at the company’s King of the Hills (KOTH) gold project in Western Australia.

Red 5 has had multiple work streams progressed with work on stream to meet the overall delivery schedule on track for completion in the September 2020 Quarter.

The underground component of the KOTH resource of 17.5 million tonnes at 2 grams per tonne gold for 1.11 million ounces of contained gold has previously been identified as a key underground mine extension opportunity for the project.

AS such, three diamond drill rigs are currently progressively exploring multiple extensional opportunities to the existing underground operations.

The company has been encouraged by interim and geological modelling that provide increasing confidence in a potential uplift to the existing Resource.

In-fill RC drilling of the western crest of the KOTH open pit has been completed with the aim of evaluating the potential for Resource extension and assist further pit optimisation works.

In-fill drilling at the prospective Cerebus-Eclipse and Centauri near-mine satellite deposits to the north-west of the KOTH open pit is continuing and remains on track for completion in January 2020.

Geotechnical core drilling and test pitting programs have been completed in the open pit and for key project infrastructure, such as the process plant and village accommodation.

Geotechnical, hydrogeological and metallurgical diamond drilling at the Cerebus-Eclipse, Centauri and Rainbow satellite deposits is scheduled to commence in late January 2020.

Field works have largely been completed for flora, fauna, archaeology and anthropology surveys.

“Geotechnical, resource extension and resource in-fill drilling programs are in full swing again following a short break for the festive season,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We expect to receive further results from underground extensional drilling and ongoing assaying of previously un-assayed historical drill core from KOTH, which will be progressively incorporated into an updated KOTH geological model.

“Infrastructure design, metallurgical testwork design and permitting, approvals and stakeholder engagement programs are also moving forward well as planned.

“This is a very exciting time for Red 5, as we work towards the delivery of a Final Feasibility Study for a major new stand-alone gold project at King of the Hills later this year, laying the foundations for Red 5 to take its next major growth step as a leading Australian gold producer.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Red 5 to Conduct Resource Drilling at Darlot Gold Mine

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is soon to commence a new program of exploration and resource drilling to test a series of priority gold targets located within an economic trucking radius of the company’s Darlot gold mine in Western Australia.

Red 5 indicated the program will test gold targets located at the Cables and Mission and Great Western gold deposits which are both subject to recent Option Agreements, as well as the Taranaki Trend, the Ockerburry Project and the Darlot Project tenements.

“The new regional surface drilling program at Darlot is an important addition to our already expanded drilling program for FY2020 – which includes a previously announced budget of 120,000 metres of planned drilling across the King of the Hills and Darlot assets,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The addition of over 11,000 metres of surface exploration and resource drilling reinforces our commitment to delivering growth through exploration.

“Following the recent Option Agreements for two ‘bolt-on’ resources at Great Western and Cables and Mission as part of the Darlot Mining Hub Strategy, we now have an expanded pipeline of exciting targets to test within an economic trucking radius of the Darlot Mill.

“These programs have the potential to quickly grow our resource base, make new discoveries and provide us with further targets for future follow-up.

“This multi-pronged strategy is consistent with our objective to meaningfully increase the mine life of the Darlot Operation – as part of our overall target of having two long-life, high-quality gold production centres operating in parallel as the cornerstone assets of a multi-asset, mid-tier gold producer.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

THE DAILY ROADHOUSE

 

Blackstone Minerals signs MoU with Korea’s Largest EV Battery Cathode Producer

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) has entered a memorandum of understanding (MoU) with Korea’s largest electric vehicle (EV) battery cathode manufacturer.

NTM Gold Hits High-Grade Gold at Hub Prospect

THE DRILL SERGEANT: NTM Gold (ASX: NTM) has recently completed a round of RC drilling at the Hub prospect at the company’s 100 per cent-owned Redcliffe gold project located near Leonora in Western Australia.

Trigg Mining Doubles Lake Throssell Project

THE DRILL SERGEANT: Trigg Mining (ASX: TMG) has wasted little time since listing to complete three in-field exploration milestones at the company’s two Sulphate of Potash (SOP) projects near Laverton in Western Australia.

Red 5 Signs Option Agreement to Purchase Cables and Mission Gold Deposits

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), via its wholly-owned subsidiary, Darlot Mining Company (DMC), has entered into an Option and Sub-lease Agreement for the right to acquire a sub-lease over the 13 blocks of Exploration Licence E37/1220 in Western Australia.

 

Red 5 Signs Option Agreement to Purchase Cables and Mission Gold Deposits

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), via its wholly-owned subsidiary, Darlot Mining Company (DMC), has entered into an Option and Sub-lease Agreement for the right to acquire a sub-lease over the 13 blocks of Exploration Licence E37/1220 in Western Australia.

The acquisition area totals 38.7 square kilometres and includes the Cables and Mission gold deposits, which were last reported by Leopard Resources on 5 February 2014 to contain total combined JORC 2004 Inferred Resources of 185,000 ounces.

Red 5 will pay a total acquisition cost of $2 million, with a further $500,000 payable on delineation and reporting of a 500,000 ounce JORC 2012 Resource.

The deposits are located 10 kilometres from Red 5’s Darlot gold mining and processing operations.

According to Red 5 managing director Mark Williams the proposed acquisition represents another strategic low-risk opportunity to grow the company’s Resource base in the area surrounding the Darlot gold processing plant.

“We are delighted to have the option to acquire the southern portion of E37/1220,” Williams said in the company’s announcement to the Australian Securities Exchange.

“It is last reported to contain JORC 2004 Inferred Resources totalling 185,000 ounces and is located adjacent to our existing Darlot operations.

“Significantly, the rock units hosting the Cables and Mission deposits are similar to those that host the Centenary orebody, which is currently being mined from underground at Darlot.

“This agreement over the Cables and Missions deposits follows the option agreement we recently secured over the Great Western deposit, with these proposed acquisitions having the potential to provide additional sources of ore feed for the Darlot processing plant.”

The agreement entitles Red 5 to conduct due diligence and drilling activities within the Sub-lease Area to determine the potential of the Cables and Mission deposits to be upgraded to Indicated ± Measured Resource status, and to be mined and trucked to the company’s Darlot processing plant.

The company indicated that should the due diligence be completed to its satisfaction and the option exercised, Red 5 intends to conduct drilling programs and other activities to produce a JORC 2012 compliant Resource as quickly as possible.

 

Email: info@red5limited.com

 

Web: www.red5limited.com

 

THE DAILY ROADHOUSE

 

Meteoric Resources Encounters Visible Gold in First Novo Astro Hole

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) was champing at the bit to inform the market of recent developments from recently commenced drilling at the company’s 100 per cent-owned Novo Astro gold project in Brazil.

Red 5 Inks Option Agreement to Purchase Great Western Gold Deposit

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), by way of the company’s wholly-owned subsidiary, Darlot Mining Company, has entered into an Option Agreement for the right to purchase a 100 per cent interest in Mining Lease M37/54, containing the Great Western gold deposit in Western Australia.

Renascor Resources Releases Siviour DFS Results

THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) delivered results of a Definitive Feasibility Study (DFS) for the company’s 100 per cent-owned Siviour graphite project near the coast of South Australia’s Eyre Peninsula.

Indiana Resources Kicks Off Mali Soil Sampling Program

THE DRILL SERGEANT: Indiana Resources (ASX: IDA) announced the commencement of a comprehensive soil geochemistry program at the company’s Saboussire gold prospect in Western Mali.

Southern Gold Receives Gubong Project ‘Permit to Develop’

THE BOURSE WHISPERER: Southern Gold (ASX: SAU) has been received word from its Joint Venture partner, London-listed Bluebird Merchant Ventures, of confirmation that the Permit to Develop for the Gubong gold mine in South Korea.

 

Red 5 Inks Option Agreement to Purchase Great Western Gold Deposit

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED), by way of the company’s wholly-owned subsidiary, Darlot Mining Company, has entered into an Option Agreement for the right to purchase a 100 per cent interest in Mining Lease M37/54, containing the Great Western gold deposit in Western Australia.

Red 5’s subsidiary struck the deal with Terrain Minerals (ASX: TMX) at a consideration for the issue of $2.2 million worth of ordinary fully paid shares in Red 5.

An option fee payable to Terrain Minerals of $300,000 is payable in immediately available funds within five business days.

Red 5 said the proposed acquisition provided a low-risk opportunity for the company to increase its Mineral Resource base within economic trucking distance of the Darlot gold processing plant.

“This represents a strong opportunity for Red 5,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“Mining Lease M37/54 has an existing Mineral Resource, and is located in close proximity to our existing Darlot operations.

“This option agreement with Terrain Minerals provides the opportunity to complete additional drilling and confirm this potential with minimal upfront cash outlay.

“Darlot is one of the great gold mines of the Eastern Goldfields, operating continuously for over 30 years and producing approximately 2.9 million ounces of gold to date.

“It is a core asset for Red 5 and we have a multi-pronged plan underway to deliver continued growth in Resources and mine life.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

Red 5 Continues Drilling Success at King of The Hills

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) declared a boost for its strategy to develop a stand-alone bulk mining operation at the company’s King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Red 5 reported the boost had come in the form of additional assay results from ongoing underground diamond drilling.

The company completed a 30,000-metre underground diamond drilling program between November 2018 and June 2019, designed to in-fill and extend the current KOTH Mineral Resource totalling 3.1 million ounces of contained gold.

A second and third underground rig commenced on site during the September 2019 Quarter to continue the Resource development program and target the potential for further mineralisation.

These additional rigs brought the company’s expected total underground drilling for FY2020 to 85,000 metres with the program aimed at converting as much of the existing underground Resource into Reserves as possible for the Final Feasibility Study, due in the September 2020 Quarter.

The drilling was also charged with the reassessment of the final pit shape to determine whether more of the underground could be included in the pit due to grade uplift in both the South and North, and extension of the underground Resource along strike and down dip.

The latest results Red 5 has achieved include broad ‘whole-of-hole’ intercepts including:

107.1 metres at 2 grams per tonne gold and 61m at 4.8g/t gold.

High-grade assays were also received, including:

47.9m at 4.1g/t gold and 11.2m at 22.5g/t gold.

The company said the ongoing in-fill drilling continues to reinforce the continuity and tenor of stockwork development at the King of the Hills (KOTH) gold mine, supporting the potential for an open pit mine and strengthening the case for bulk underground mining using long-hole stoping.

“These excellent results not only support our ongoing studies for a proposed bulk open pit operation at King of the Hills but also confirming the strong potential to expand the current 3.1 million-ounce Resource, which is currently open in all directions,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We have a very active drilling program scheduled for the remainder of FY2020, with 85,000 metres of underground diamond drilling in progress, as well as ongoing assaying of historical drill core and a regional drilling program targeting near surface oxide mineralisation.

“Collectively, these programs will underpin future updates to the KOTH Resource and feed into the ongoing Final Feasibility Study for the integrated bulk open pit and underground mining operation which is scheduled for completion by the September 2020 Quarter.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

THE DAILY ROADHOUSE

Encounter Resources and Newcrest Drilling at Tanami JV

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) announced the completion of the first phase of RC drilling at Hutch’s Find in the Tanami region of Western Australia that is held in Joint Venture with Newcrest Mining (ASX: NCM).

Red 5 Scores Big Hits Assaying Historical KOTH Core

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is continuing to produce encouraging results from ongoing assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Southern Gold to Commence Drilling at Bonanza Zone

THE DRILL SERGEANT: Southern Gold (ASX: SAU) is set to commence a diamond drilling program on the Bonanza Zone, within the company’s 100 per cent-owned Deokon project in South Korea, having secured land access and regulatory approvals.

St George Mining Encounters More Step-Out Results at Mt Alexander

THE DRILL SERGEANT: St George Mining (ASX: SGQ) released more results from ongoing exploration programs underway at the company’s Mt Alexander project in the north-eastern Goldfields of Western Australia.

 

Red 5 Scores Big Hits Assaying Historical KOTH Core

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is continuing to produce encouraging results from ongoing assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Red 5 said the results confirm the presence of gold mineralisation by revealing zones in areas that have been assigned zero grade in the current 3.1 million ounce Resource model.

Latest highlights include:

KUD00024
3m at 13.3 grams per tonne gold;

KUD00059
1.4m at 30g/t gold;

KUD00138
16m at 2.6g/t gold;

KUD00153
7m at 5.0g/t gold;

KUD00175
3m at 16.8g/t gold;

KUD00182
15.4m at 2.6g/t gold;

KUD00183
2.8m at 14.4g/t gold;

KUD00184
1m at 39.9g/t gold;

KUD00186
14.1m at 5.2g/t gold;

KUD00224
10m at 3.6g/t gold;

KUD00225
4.5m at 7.6g/t gold;

KUD00226
7.2m at 6.0g/t gold;

KUD00228
6.6m at 6.2g/t gold;

KUD00234
18m at 1.8g/t gold;

KUD00239
2.6m at 66g/t gold;

KUD00485
8m at 5.8g/t gold; and

KUD00562
7.2m at 4.6g/t gold.

Red 5 has now assayed a total of 17,047m of previously unassayed drill core from 266 historical diamond holes, representing approximately 49 per cent of the total length of these holes.

A further 12,600m of un-sampled intervals of historical drill core has been identified and is planned to be assayed, bringing the total to around 30,000m (compared to the initial estimate of 20,000m).

Red 5 explained that assaying of historical core is being undertaken in parallel with underground diamond drilling programs, with approximately 85,000m of drilling planned for FY2020.

The company is conducting the assay program for historical drill core in parallel with ongoing underground drilling as it considers both programs offer strong potential to expand the existing 3.1 million ounce KOTH Mineral Resource base.

“This program has been a big free kick for the project and company,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We continue to see very positive results from systematically assaying the extensive quantity of previously unassayed historical core available at KOTH, with the results demonstrating the presence of significant amounts of gold mineralisation located in between the high-grade veins that were the primary focus for past owners.

“In parallel, we are progressing the major underground drill program at King of the Hills, with planning underway to drill approximately 85,000 metres for FY2020.

“Assay results from this ongoing drilling will be progressively announced in due course.

“These programs will both feed into future Mineral Resource updates, as well as the ongoing Final Feasibility Study for the integrated bulk open pit and underground mining operation at KOTH, which is scheduled for completion by mid next year.”

 

Email: info@red5limited.com

Web: www.red5limited.com