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Spartan Resources has released a significant update to the mineral resource estimate (MRE) for its Dalgaranga gold project in Western Australia.

"This MRE update firmly establishes Dalgaranga as an exceptional high-grade deposit, featuring an underground resource of 1.44 million ounces (Moz) at a grade of nine grams per tonne (g/t) gold," stated Simon Lawson, Spartan’s managing director and CEO.

Lawson emphasized the update's significance to the company’s reputation in the mining industry.

“The delivery of this landmark MRE update marks a pivotal moment in our journey and solidifies the high-grade Spartan brand on our key project at Dalgaranga,” he remarked.

“The Spartan team has transformed a struggling low-grade open-pit gold miner into a highly successful high-grade exploration, discovery, and development operation.”

Since its recapitalization in February 2023, Spartan has established itself as a highly investable gold mining and development company, consistently adding value for shareholders, Lawson noted.

“Since its discovery in mid-2022, the high-grade Never Never gold deposit has consistently delivered some of the most impressive drill intercepts seen in the Australian gold sector in years,” he said.

The new results were achieved through a rigorous and effective drilling strategy, combined with the team’s extensive experience in interpreting, modeling, and estimating high-grade gold resources, Lawson explained.

“This resource will support our maiden underground ore reserve, which is currently underway and scheduled for delivery in the second half of 2024,” he added.

In addition to the Never Never deposit, Spartan recently announced the discovery of the high-grade Pepper gold deposit. Located adjacent to Never Never, Pepper has added a maiden high-grade underground inferred mineral resource of 0.43Moz at 7.66 g/t gold.

Given its proximity to the development of the Never Never deposit, Pepper has become the drill team’s top priority for in-fill and extensional drilling throughout the second half of 2024, Lawson said.

“The combined underground MRE for Never Never and Pepper is 1.8Moz at 8.65 g/t gold,” he stated.

The Dalgaranga gold project’s total mineral resource estimate now stands at 16.1 million tonnes (Mt) at 4.79 g/t gold, representing a 90 percent increase in grade and a 45 percent increase in ounces from the previous estimate.

“Our journey has just begun, and we are eager to see what our team can deliver once the drill drive is in place,” Lawson concluded.

Despite a decrease in rare earth production, Lynas Rare Earths remains on track with the ramp-up of the Kalgoorlie facility in Western Australia.

In the June 2024 quarter, Lynas produced 2,188 tonnes of total rare earth oxide (REO) and 1,504 tonnes of neodymium and praseodymium (NdPr). Lynas Managing Director and CEO Amanda Lacaze attributed the production decrease compared to the previous quarter to "essential maintenance" activities at Lynas Malaysia.

"During the June quarter, the ramp-up of the Kalgoorlie facility continued, and the first shipment of mixed rare earth carbonate (MREC) was dispatched to Malaysia," Lacaze said. "While production volumes remain low as processes are stabilised, the ramp-up is proceeding according to plan."

Mining operations resumed at Mount Weld during the quarter. Under a five-year mining services contract awarded in March, Carey Group Holdings subsidiary Carey Mining began removing waste material above the orebody. Carey Mining also brought a new fleet of equipment, including a PC1250 excavator and 785 haul trucks from Komatsu, to the site.

"Mount Weld delivered efficient production of concentrate during the quarter," Lacaze said. "Trucking of concentrate to the Kalgoorlie facility commenced using Lynas' new 'rotainer' container system, which uses half-size containers and mechanical lifting to minimize manual handling requirements at Mount Weld and Kalgoorlie."

Construction activities for the Mount Weld expansion project continued, with Stage 1 (concentrate dewatering) complete and commissioning expected to be finished by the end of September. "The new concentrate dewatering circuit has been integrated into the existing plant. Once commissioned, it will debottleneck the current operation while the remainder of the new plant is constructed," Lacaze said.

"Construction of Stage 2 is ramping up, and the tailings storage facility is now under construction. The balance of Stage 2 (plant construction) is expected to be completed by the end of FY25. Commissioning activities for Stage 2 will progress concurrently with construction as individual circuits are completed."

Lynas ended the quarter with $136.6 million in sales revenue and $117.5 million in sales receipts, reflecting the lower average NdPr price of $US46/kg ($69).

Evolution Mining and Genesis Minerals have reported impressive gold production results as they head into the 2024–25 financial year (FY25).

Evolution Mining

Evolution Mining achieved a 14 percent increase in gold production during the June 2024 quarter, producing 212,070 ounces (oz) of gold at an all-in sustaining cost (AISC) of $1275/oz, which is 13 percent lower than the previous quarter. The company recorded a remarkable 171 percent increase in quarterly group cash flow, rising from $85 million to $230 million. Additionally, Evolution saw a 74 percent increase in quarterly net mine cash flow, reaching $242 million, equivalent to $1170/oz.

The Cowal gold mine in New South Wales set a new production record, producing 94,826oz during the quarter. Evolution's managing director and CEO, Lawrie Conway, highlighted the strong performance, stating, “We had an outstanding June quarter with sector-leading cash generation and low costs which showcase the quality of our portfolio.”

For FY24, Evolution generated $367 million in group cash flow and $583 million in net mine cash flow, producing a total of 716,700oz of gold and 67,862 tonnes of copper at an AISC of $1477/oz. Cowal achieved record annual gold production under Evolution’s ownership, producing 312,644oz in FY24 at an AISC of $1338/oz. Conway noted, “We achieved multiple records at an operational level, and I am particularly pleased that June was the strongest month of the quarter, which builds momentum moving into FY25. This result is a credit to our team.”

Genesis Minerals

Genesis Minerals, while accelerating its growth strategy, produced 34,617oz at an AISC of $2698/oz during the June quarter. This brings Genesis’ FY24 production to 134,451oz at an AISC of $2356/oz, meeting its FY24 guidance of 130,000–140,000oz at an AISC of $2300–2400/oz.

Genesis managing director Raleigh Finlayson described the quarter as highly successful, stating, “We met both production and cost guidance while laying the foundations to accelerate our organic growth strategy. This is designed to ensure we achieve our 325,000ozpa (per annum) production target and reduce AISC to $1600/oz ahead of the FY29 date contained in our five-year plan.”

During the June quarter, Genesis processed 10,562 tonnes (t) of third-party ore from its Leonora operations in Western Australia under its short-term ore purchase agreement with Linden Gold Alliance. Surface ore stockpiles from Leonora awaiting processing increased to about 314,000t under Genesis’ first 12 months of ownership, aligning with the company’s long-term strategy to “future-proof” the business.

On May 1, commercial production commenced at the Admiral open pit, located approximately 40km from the Leonora mill in WA. Finlayson stated, “We have successfully established a very large inventory which underpins forecast production of 3Moz (million ounces) over 10 years. We now want to unlock more of its value sooner to capitalize on this enviable position and the buoyant gold price. By accelerating our self-funded organic growth strategy, we can drive rapid growth in free cashflow generation, creating greater shareholder value in the process. We are very pleased with the way the pieces of the Genesis jigsaw are coming together.”

BHP's copper business continues to thrive, with the company reporting a nine percent increase in copper production across its assets during the June 2024 quarter.

This growth was driven primarily by record production at the Spence mine in Chile and the Carrapateena mine in South Australia, with Spence producing 255,000 tonnes and Copper South Australia producing 266,000 tonnes.

The Escondida mine in Chile, known as the world's largest producer of copper concentrates and cathodes, achieved its highest production in four years with 1,125,000 tonnes of copper produced during the quarter.

"We finished the year with a strong fourth quarter, achieving several production records and meeting current production and unit cost guidance for all commodities," said BHP chief executive officer Mike Henry.

"Our copper business delivered a robust performance globally, highlighted by the highest production in four years at Escondida and another year of record production at Spence in Chile. The successful integration at Copper South Australia has also boosted production, exceeding the annualized synergies planned at the time of the OZL acquisition."

BHP’s Western Australia Iron Ore business also showed strong performance, achieving a record 255 million tonnes for the year, marking the second consecutive year of record production.

"We continued to execute our strategy, advancing growth options in the commodities needed to meet the demands of the energy transition and population growth," Henry added.

"This includes our Jansen potash mine in Canada, where construction of Stage 1 is now more than 50 percent complete and Stage 2 is underway. We anticipate first production in 2026 and aim to be a major global producer of potash by the end of the decade."

Looking ahead, BHP will enter a transition period following the temporary suspension of its Nickel West operation in Western Australia. This will involve suspending mining and processing operations at the Kwinana nickel refinery, Kalgoorlie nickel smelter, and Mount Keith and Leinster operations, as well as halting development of the West Musgrave project.

During this period, BHP will implement a care and maintenance program to ensure the safety and integrity of its mines and infrastructure while continuing to invest in exploration to extend the resource life of Western Australia Nickel.

BHP has pledged to support its workforce and local communities during the suspension by establishing a $20 million community fund. Additionally, the company will invest approximately $450 million per annum to support a potential restart of Western Australia Nickel.

Great Boulder Resources has identified two significant gold targets through a recent soil geochemistry program at the Side Well Gold Project in Western Australia.

At Side Well South, one target spans 2.4km and features an Ironbark-style structure with peak gold values of 75 parts per billion (ppb). The other target is a 1.4km-long anomaly with bismuth and molybdenum.

The company, with a market capitalization of $33.96 million, noted that both targets are near the historic Golden Bracelet Mine, which historically produced over 1,000 ounces of gold at 27 grams per tonne.

Managing Director Andrew Paterson highlighted that surface sampling data confirmed the mineralization continues south through the tenements and the known hydrothermal system, extending over 18km of strike.

“At Side Well South, we’ve identified two new targets collectively spanning 3.8km of strike,” Paterson said. “This expands the known mineral system with the same pathfinder fingerprints as our earlier discoveries to the north. The surface anomalism has been getting stronger as we move south, so we’re excited to find these new targets and keen to drill them as soon as possible.”

Great Boulder has scheduled a heritage survey at Side Well South starting on July 22, with aircore drilling set to commence once heritage approval is received.

Additionally, the company plans to conduct further aircore drilling to explore the potential of the Polelle Gold Project after confirming strong pathfinder anomalism. The recent aircore drilling program consisted of 45 holes over 1,764 meters, targeting areas in the northwest and eastern sides of the project. The bottom-of-hole multi-element assays revealed pathfinder anomalism, with antimony values ranging from 11 parts per million (ppm) to 55ppm at Lordy Bore, and up to 12ppm antimony, accompanied by elevated levels of arsenic, copper, bismuth, tellurium, molybdenum, and lead near Bassett Bore.

Paterson noted that four lines of drilling in two areas at Polelle were completed based on heritage surveys conducted in 2022. “Unfortunately, that meant the program wasn’t optimal in terms of our priority targets, but we confirmed very high levels of antimony and other pathfinders in both locations,” he said. “Antimony is one of our key pathfinder elements for orogenic gold deposits, and it confirms we’re inside the mineralised system.”

He added that both aircore and reverse circulation drilling will be conducted to test various targets at Mulga Bill North. “The second half of the year is going to be extremely busy, and we anticipate a lot of good news in the months ahead,” Paterson said.

Great Boulder is currently exploring Polelle in Meekatharra, Western Australia, under an agreement with Castle Minerals (ASX

), giving Great Boulder an option to acquire 75% of the project. The company also received a $558,000 research and development rebate in early July, ensuring continued funding for ongoing exploration.

Great Boulder Resources is a mineral exploration company with a portfolio of promising gold and base metal assets in Western Australia.

Bellevue Gold has exceeded the midpoint of its June quarter guidance for the 2023-24 financial year (FY24) due to a continuous production ramp-up.

The Bellevue Gold Project delivered a robust quarter with 42,705 ounces (oz) of gold produced, an increase from the March quarter's 37,338 oz. This production has generated $41 million in free cash flow, a notable achievement given that commercial production was only declared in May.

For the second half of FY24, total gold production reached 80,043 oz, surpassing the company's guidance range of 75,000-85,000 oz.

"It was a successful quarter in which we ramped up production in line with our plan, met guidance, and generated strong free cash flow," said Bellevue Managing Director Darren Stralow. "Underground tonnes increased in line with the plan, and the processing plant is performing strongly. We are now well into the expansion study, which aims to leverage our current infrastructure and unlock the full value of the Bellevue asset."

Bellevue Gold is continuing its expansion studies to explore the project's potential by expanding the plant beyond its current capacity of one million tonnes per annum. A scoping study is already underway, focusing on expanding the plant to 1.5 million tonnes per annum (Mtpa) and assessing the capital requirements for non-processing infrastructure. This study is expected to be completed in the first half of the 2024-25 financial year.

Additionally, Bellevue announced that it is on track to achieve its goal of net-zero greenhouse gas emissions for the Bellevue Project by 2026, thanks to investments in thermal and wind power technologies.

Ardea Resources Limited (Ardea or the Company) is pleased to announce the commencement of the Kalgoorlie Nickel Project (KNP) - Goongarrie Hub Definitive Feasibility Study (DFS) on 1 May 2024. Integral to the DFS is the Infill Drill program, which has already begun (see Figure 1).

The primary objective of the Infill Drill program is to upgrade the nickel-cobalt laterite resources to the Measured Mineral Resource category for the initial five-year open pits. This program entails 888 Reverse Circulation (RC) drill holes covering a total of 51,745 meters, spaced at 40x40 meters as recommended by SRK to enhance the definition of Measured Mineral Resources.

Kennedy Drilling, renowned for their extensive experience in drilling nickel-cobalt laterite deposits within the Goongarrie Hub, is executing the Infill Drill program. RC drilling activities have commenced at the Big Four nickel-cobalt deposit, with plans to drill 16,215 meters. Currently, one RC rig is operational, and additional rigs are scheduled to join the site by September 2024.

Ardea’s wholly owned subsidiary, Kalgoorlie Nickel Pty Ltd (KNPL), along with selected contract geologists, are overseeing the program. Additional support staff, including a newly appointed HSE Manager, are being recruited to assist in the smooth execution of operations.

The entire Infill RC drill program across the Goongarrie Hub is projected for completion by the end of CY2024. Results from these drills will contribute to an updated Mineral Resource Estimate (Measured category) for the initial five-year open pits, bolstering confidence in the existing nickel laterite resources, particularly during the payback period.

As part of the DFS, further drill programs are planned for geotechnical assessments and hydrogeological testing. Additionally, diamond core drilling will be conducted to provide metallurgical samples at bench scale and validate historical RC results. The commencement of these programs is contingent upon receiving approvals (programs of work) from DEMIRS and finalizing the drill design.

Gold producer Calidus Resources has announced the initial mineral resource estimate for the Nullagine gold project, with 65% categorized as measured and indicated.

Located in the Mosquito Creek Basin within the Archaean Pilbara Craton of Western Australia, the Nullagine gold project now boasts a mineral resource of 6.9 million tonnes (Mt) at 2.15 grams per tonne (g/t) of gold (Au), totaling 475,114 ounces (oz). Of this, 4.1Mt at 2.33g/t Au, amounting to 307,497oz, falls under the measured and indicated category.

This resource estimate will be integrated into an upcoming feasibility study for the Golden Eagle mill, situated approximately 9km south of Nullagine.

“We are excited to release an initial maiden resource at Nullagine, which forms the basis for a study on the restart of the Golden Eagle mill, which has a nameplate capacity of 1.8Mtpa (million tonnes per annum), on a campaign basis,” said Calidus Managing Director Dave Reeves.

“Any production from Nullagine will significantly enhance Calidus’ overall production profile and generate substantial free cash flow, as there is no hedging in place for any of these ounces.

“We anticipate releasing a feasibility study in the September 2024 quarter, with production targeted to commence no later than Q1 2025.”

In addition to the Golden Eagle mill, the Nullagine site includes existing infrastructure such as a 230-person accommodation village, a 10-megawatt power station, administration buildings, workshops, warehouses, a laboratory, a communications network, water supply, and storage and tailings facilities.

Calidus acquired Nullagine in December 2023 from Novo Resources. The company also acquired Novo’s Blue Spec gold-antimony project in 2020 and the remaining tenements at the Warrawoona gold project in 2021, both located in Western Australia.

Spartan Resources Limited is excited to provide an update on the exploration activities at its fully owned Dalgaranga Gold Project in the Murchison region of Western Australia. This release highlights new assay results from recent surface drilling at the high-grade Pepper Gold Prospect and the adjacent and expanding Never Never Gold Deposit.

Simon Lawson, Managing Director and Chief Executive Officer of Spartan, commented: "The parent hole to the recently reported deepest intercept at Pepper, which yielded 25.24m at 16.66g/t gold (DGRC1431-DT-W1), has once again surpassed expectations. The new deeper intercept returned an impressive 30.79m at 12.12g/t gold (DGRC1431-DT). These holes, spaced approximately 50m apart, demonstrate the continuity of thick, high-grade gold mineralisation at this exciting and growing prospect.

"The Never Never Gold Deposit also continues to deliver impressive results, with a new thick and consistently high-grade intercept of 19.67m at 19.43g/t gold (DGDH066) within the Inferred area of the existing Mineral Resource Estimate. This nearly 400 gram-meter result supports our goal of converting Inferred ounces to the higher-confidence Indicated category by infilling this part of the existing MRE.

"These intercepts from Pepper and Never Never are our fifth and sixth best-ever drilled at Dalgaranga, highlighting the potential of this mineral system to deliver exceptional results with continued drilling. Additionally, hole DGDH072-W2 returned a lower-grade but still respectable intercept of 11.45m at 2.05g/t gold, indicating potential grade variability around the 800m below surface level, similar to the 450m below surface level 'flexure zone.' We have several assays pending for this area, and we anticipate gaining more insights as results return.

"We are confident that the Never Never Gold Deposit is already established as our premier high-grade gold asset, with Pepper rapidly emerging as a remarkable new high-grade deposit adjacent to our planned underground mining infrastructure. Together, these two deposits will form the core of any future mining operations."

It's been an eventful week for Silver Lake and Red 5 Resources, as the Supreme Court of New South Wales has approved their merger bid.

Yesterday, the Supreme Court issued orders approving a scheme of arrangement under which Red 5 will acquire 100% of Silver Lake shares.

Silver Lake plans to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission today, making the scheme legally effective.

Once the scheme is implemented, Silver Lake will delist from the ASX, and new Red 5 shares will begin trading on June 20.

Silver Lake shareholders endorsed the merger earlier this week.

The merger will create a diversified mid-tier gold company, producing approximately 445,000 ounces per year, establishing the combined entity as a prominent mid-tier company.

In September 2023, Silver Lake acquired 11% of Red 5’s shares. Now, Silver Lake shareholders will receive 3.434 Red 5 shares for every Silver Lake share they hold.

In a presentation announcing the merger, both companies stated it would “provide Red 5 and Silver Lake shareholders with the opportunity to participate in a stronger combined group, delivering benefits not available on a standalone basis.”

The merged group’s management team will be led by Luke Tonkin from Silver Lake as managing director and chief executive officer. He will be supported by Richard Hay from Red 5 as chief operating officer and Struan Richards from Silver Lake as chief financial officer.

Upon finalizing the merger, the company will own four gold projects: King of the Hills (KOTH), Deflector, and Mount Monger in WA, and Sugar Zone in Ontario, Canada.