30 November 2016

Minotaur and its exploration earn-in partner Oz Minerals have defined a 2.7 km long anomaly 5 km north of the Eloise copper mine in Queensland from a ground electromagnetic survey. Two defined targets with responses stronger than those from the Eloise deposit have been identified at Iris North and Iris South. A hole in the south anomaly intersected 38 metres at 0.47% Cu from 166 metres including 4 metres at 1.65% Cu within a sulphidic breccia. According to the company, the results are “reminiscent of early intercepts of what is now the Eloise copper mine”.

Silver City Minerals reported completion of three drill holes testing extensive coincident geophysical and geochemical anomalies at the Razorback West property located northeast of Broken Hill. The holes intersected minor amounts of sulphide in rocks identified as belonging to the Freyers metasedimentary package which were not the targeted prospective formation. Rocks of the prospective Hores Gneiss are now interpreted to lie further west.

Encounter Resources has embarked on a drilling program at its Telfer West prospect in Western Australia located 25 km from the Telfer Mine and which shares common geological features. Past work was undertaken by WMC and Newmont but only four holes were drilled deeper than 150 metres. The program is focused on a range of geophysical anomalies.  

11 November 2016

Blackham Resources has identified close to 200 metres of strike of the mineralised M5 structure to the west of the M3 pit and additional material between the M3 and M4 pits in the emerging Matilda production area. Among the best intersections from the newly defined M5 material are 7 metres at 3.08 g/t Au from 25 metres, 4 metres at 5.44 g/t Au from 42 metres and 14 metres at 1.41 g/t Au from 12 metres downhole. A larger resource would help the company realise its aspirations for a longer mine life and higher production rates.

Capital Mining reported lithium-bearing pegmatite material at its Midwest prospects in Western Australia. Eighteen rock chip samples were collected from a 85.5 square kilometre project area. The area lacks the pronounced rock outcrops seen in other parts of Western Australia. The available information suggests modest scale mineralisation of limited commercial interest. The reported exploration results are similar to those of many exploration entities seeking to demonstrate lithium prospects within their exploration portfolios as they try to take advantage of forecasts of inadequate supplies and easier funding than for other metal exploration efforts.

Matsa Resources has announced an air core exploration drill program at the Bindah and Galant exploration targets near its recently acquired Lake Carey gold prospect in the Laverton region of Western Australia. Despite a favourable structural setting in a well endowed gold belt, these historic prospects have only been lightly explored. They were identified following a detailed review of the exploration potential of the area. The company is advancing a development plan in the region based on available historical data and its own activity and analysis. ct.  

28 October 2016

Mustang Resources has reported the recovery of 460.43 ct of high quality stones after commencing bulk testing at its Mozambique ruby prospect.  The rubies occur in distinct buried gravels sitting on basement rocks. The capacity of the test plant will be lifted to 525 tonnes per day in November fed from further excavations in the gravel horizon. The company has provided mapped surfaces of a long excavation extending to a depth of 9.2 metres from its Alpha prospect.  

Birimian released a maiden resource estimate for its Bougouni lithium prospect in Mali, described by the company as “among the highest grade” lithium prospects globally.  Although the company has estimated a resource grading 1.48% LiO2, including a better defined core grading 1.4% without applying any cut-off grade and with a depth of mineralisation of 200 metres, the company had reported higher grades, typically 1.6-1.86% LiO2, including 28 metres at 1.77%, as recently as 28 September. A more modest grade profile makes development of a remote mineral accumulation more difficult.  

Venus Metals is undertaking an RC drilling program at its Curara Well prospect at Doolgunna, 10km northeast of the Sandfire Resources base metal mine. The program is designed to sequentially test three magnetic targets described as “pipe like” features potentially related to diamond or copper mineralisation. Similarities between the P1 target and the Thundelarra-held Red Bore prospect are evident. Two other northwest trending anomalies are extensive which may signify a magnetic rock type rather than mineralisation.

23 October 2016

Paringa Resources announced the discovery of a coal seam (the West Kentucky No.11 seam) in the overlying sediments above the defined No. 9 seam at its Poplar Grove thermal coal property in Kentucky. The definition of this seam with an average thickness of 5 feet from 13 bores offers potential developmental synergies with two room and pillar operating areas. The company has defined an exploration target of 85-110 Mt of coal in the area.

Capricorn Metals reported what it referred to as a “significant discovery” on the southern margin of its Karlawinda gold prospect southeast of Newman in the Pilbara region of Western Australia. The recent results included intervals of 100 metres at 0.47 g/t Au including 8 metres at 1.42 g/t Au from 80 metres and 12 metres at 1.37 g/t Au from 117 metres. The company had previously defined a low grade resource approximately 300 metres to the north. The combined results are unlikely to alter the likelihood of a commercial development.

KGL Resources is due to report results from recent drilling at its Jervois base metal prospect in the Northern Territory. Diamond hole KJCD198 intersected sulphides in three intervals from 449.7 metres downhole within the Conductor 6 geophysical anomaly. The availability of core, with important textures and structures, allowed the company to infer that the geometry of mineralisation is “more complex” than initially inferred owing to the presence of deforming folds and faults. The conductor plate is one of a series of stacked features. Oro Verde has reported high grade gold results from rock chip sampling of previously untested veins at its Topacio prospect in Nicaragua. The sampling was aimed at identifying drill targets from which to explore the possibility of a precious metal rich epithermal system. The spread of samples are signs of additional targets in relatively unexplored areas. Under an agreement with Newcrest, Newcrest can earn a 75% interest in the prospect. [Corrected]

13 October 2016

Oro Verde has reported high grade gold results from rock chip sampling of previously untested veins at its Topacio prospect in Nicaragua. The sampling was aimed at identifying drill targets from which to explore the possibility of a precious metal rich epithermal system. The spread of samples are signs of additional targets in relatively unexplored areas. Under an agreement with Newcrest, Newcrest can earn a 75% interest in the prospect. [Corrected]

Mount Ridley Mines reported the results of a single diamond hole (MRD016) at its Mt Ridley project northeast of Esperance directed at a target 801 metres down hole. The hole encountered a series of weakly mineralised zones. A subsequent downhole geophysical survey identified an off-hole conductor at a depth of 650 metres which the company is planning to drill test.  

Mithril Resources is completing a program of soil geochemical sampling at its 100% owned Lignum Dam prospect prior to an RC drilling program in the current quarter in an area prospective for gold and nickel. The prospect, 50km north-northeast of Kalgoorlie, is located along strike from former workings at the Lindsay’s gold mining centre.

6 October 2016

Azure Minerals has reported a 67.1 metre thick interval of mineralised material at its Loma Bonita prospect in Sonora State in Mexico. The discovery includes a 25.9 metre thick zone from surface grading 1.31 g/t Au and 17 g/t Ag and a 25.9 metre interval from 36.6 metres grading 2.4 g/t Au and 23 g/t. The shallow and stacked nature of the open oxidised system would facilitate future development.

Centaurus Metals, which had gone to Brazil for its iron ore potential, has released exploration results from its Brazilian Mombuca gold prospect. With three holes drilled on distinct geophysical anomalies, no significant results were reported from two and a thin interval of 0.42 g/t Au was found in the third.

Alto Metals will commence testing a series of shallow gold in soil anomalies identified by Troy Resources between 1994 and 2010 in an RC drilling program to commence later in October, after being granted five exploration licences over tenements at Sandstone in Western Australia. The company has also commissioned an airborne magnetic and radiometric survey to complement its existing data.

26 September 2016

Core Exploration has reported a “significant lithium discovery” from a series of inclined holes beneath historic tin-tantalum workings at its Finniss prospect near Darwin. Four RC holes each reported thick intervals of pegmatite with spodumene mineralisation. Hole FRC003 reported a 34 metre thick interval grading 1.6% LiO2, including 7 metre, 4 metre and 3 metre intervals from 79 metres, each grading 2.0% LiO2. A hole drilled to test the same zone from the other side of the pit intersected 15 metres at 1.15% LiO2. The intersections occur beneath a deep zone of weathering.

S2 Resources reported that eight RC and a single diamond drill hole directed adjacent to an earlier very high grade result at its Monsoon prospect failed to intersect gold mineralisation. The earlier results now appear to reflect a tightly controlled zone of gold mineralisation unlikely to support a commercial resource.

Sovereign Gold Company is commencing a test drill program at its Chappais Lake hard rock lithium prospect, originally trenched and mapped over 50 years ago, in a region of Quebec with multiple lithium prospects and developments.

21 September 2016

Thundelarra has reported high grade intersections of unweathered gold-bearing quartz-carbonate vein material at its Garden Gully prospect. Results include 7 metres at 21 g/t Au from 11 metres downhole, 2 metres at 8 g/t Au from 49 metres and 12 metres at 4 g/t Au from 96 metres. The proximity of shallow high-grade material to processing facilities at Meekatharra and the Andy Well mine to the northeast could facilitate development.

Silver City Minerals reported that lithium exploration in the Broken Hill region had yielded low level lithium-bearing mica mineralisation (zinnwaldite) rather than conventionally processed lithium minerals. While metallurgists have been bench testing techniques for extraction of lithium from a range of previously untreatable ores, a need for unconventional treatment techniques makes near-term lithium mine development less likely.

Platypus Minerals is about to test a historic lithium discovery at its hard rock Lemare prospect in Quebec with a 4,000 metre diamond drilling program. Quebec, where TSX-listed Nemaska Lithium plans construction of a pilot plant in October 2016 at its high grade Whabouchi development, is a prospective source of new lithium supplies.

11 September 2016

Base metal explorer Peel Mining has reported intersections of 7 metres at 2.01% Cu and 9 metres at 2.24% Cu 300 metres north of its Mallee Bull copper-silver-gold resource in central New South Wales. The results came from a weak down hole electromagnetic conductor at a depth of 270 metres. Additional drilling is targeted at related anomalies in the area.

Matsa Resources reported a best intercept of 4m at 0.94 g/t gold after a five hole drilling program at its Mt Weld project in Western Australia confirming the presence of low grade gold mineralisation. Further drill targets are being developed as the company also pursues opportunities across a large portfolio of exploration tenements.

Real Energy Corporation is beginning to flow test the deep Tamarama -1 Cooper Basin well in Queensland having reported that 85% of frac fluids have been recovered. The well will flow for two or three weeks prior to commencement of a well test program to measure gas rates without the interference of the frac fluid flows.

19 August 2016

KGL Resources has reported drilling outcomes, including an intersection of 10.5 metres at 8.76% Cu and 42.9 g/t Ag from 478.4 metres down hole, from a program of deep exploration targeting a series of stacked electromagnetic conductors at the Jervois prospect in the Northern Territory. The current exploration effort recognises the potential for an extensive massive sulphide system at depth.

Tap Oil and its exploration partners completed the Driftwood-1 well located offshore in the Carnarvon Basin within WA320-P. The well was water wet with no hydrocarbons in the primary and secondary objectives. The commitment well was the sole exploration target planned by the company for 2016-2017.

Carnarvon Petroleum has reported that the ROC-2 exploration well within the WA-437-P exploration permit in the North West Shelf in which the company has a 20% interest is approaching a primary target. Whether the target formations are hydrocarbon bearing will be known in early to mid September with the information helping to assess earlier drilling results at Roc-1.

10 August 2016

Emmerson Resources released drill results from its 100% held Edna Beryl prospect 40km north of the historic Tennant Creek gold workings including 5 metres at 35.6 g/t Au from 120 metres down hole and 3 metres at 9.1 g/t Au from 136 metres from one mineralised position and further high grades from a deeper prospective position.

Windward Resources reported results from 39 shallow air core holes drilled at the 70% held Western Margin prospect located within 4km of the Nova Bollinger mine development in the Fraser Range of Western Australia. Only trace base metal signatures were recorded with anomalous nickel levels in one hole and anomalous copper in two holes.

Southern Gold is awaiting drilling results from a diamond drilling program at one of its newly acquired South Korean gold prospects. The Kochang prospect has historical very high grade gold in quartz workings. The company is seeking potential extensions of known mineralised shoots. The company has attracted exploration co-funding from state-owned KORES.