De Grey Mining Limited announced today the following drilling update for the Crow Zone at the Hemi Gold Discovery, located approximately 60km south of Port Hedland in Western Australia
Hemi is surrounded by world-class infrastructure within a Tier 1 mining jurisdiction. The overall scale of Hemi continues to increase with dimensions growing to approximately 2.5km north to south and 2km west to east with three main zones (Aquila, Brolga and Crow) defined within this large gold system. The Crow zone is located immediately adjacent and north of the Aquila zone.
The Company has one aircore rig operating south of Aquila and one operating in the Greater Hemi region looking for mineralised extensions and Hemi look-alikes. Two RC rigs are following up extensions identified in aircore drilling and two diamond rigs are drilling depth extensions. Initial aircore drilling at Crow defined a large system +1km long and +400m wide. A program of RC and diamond drilling has been undertaken to define and extend mineralisation. Results reported in this release provide extensions and infill to the Crow zone and importantly shows an exciting new high-grade gold intercept in HERC238.
Highlights: Thick, high-grade gold intercept with visible gold at Crow:
- 64m @ 13.4g/t Au from 141m in HERC238 (using a 0.3g/t cutoff), including:
- 19m @ 42.0g/t Au from 170m (which in turn includes 8m @ 84.7g/t)
Additional significant RC results (>20gm*m) at Crow include:
- 12m @ 2.4g/t Au from 109m in HERC175
- 24m @ 1.1g/t Au from 51m in HERC225
- 31m @ 2.2g/t Au from 69m in HERC227
De Grey Managing Director, Glenn Jardine, commented: “Extensional and definition RC and diamond drilling at Crow on an 80-metre pattern commenced only recently in July. The exceptional result in HERC238 is the best result at the Mallina Project to date and has transformed our perceptions of the large Crow intrusion. It follows recent announcements of the discovery of new sub-vertical lodes in Crow, together with mineralised extensions of Crow to the north-west.
The significance of the new RC results at Crow goes beyond the results in HERC238. They demonstrate the potential for Crow to significantly add to the overall gold endowment at Hemi and to meaningfully contribute to a potential large scale, near-surface open-pit production scenario. The mineralised footprint at Crow is currently approximately 1,000m by 400m and remains open.
The Company’s drilling program is working successfully toward our strategic goal of making Hemi a Tier 1 scale gold deposit and demonstrating the potential for further upside on a tenement wide scale.”
Musgrave Minerals Ltd reported assay results for a further five reverse circulation (“RC”) drill holes and the first five diamond drill holes from the current program at the new Starlight gold discovery at Break of Day. Drilling continues to confirm the high-grade nature of the Starlight and White Light gold discoveries. Starlight remains open down-dip where drilling is continuing. All intercepts reported in the current drilling program are outside the existing Break of Day resource estimate.
The Starlight and White Light gold lodes at Break of Day are located on the Company’s 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district. Drilling at Starlight is continuing, with a focus on infilling and also extending the high-grade gold mineralisation at depth.
Drilling will also continue to test for new lodes within the Break of Day/Lena mineralised corridor with a third drill rig due to commence on the 100% owned Musgrave ground in mid-August.
Musgrave Managing Director Rob Waugh said:
“Starlight continues to produce stunning gold results in near-surface drilling. Further RC drilling is underway to infill and extend the Starlight mineralisation with the aim of completing a JORC resource update late in Q3 2020. Diamond drilling is also continuing to test for depth extensions of the high-grade Starlight lode below 250 vertical metres and to further define the White Light lode. We anticipate having four drill rigs on site by mid August.”
RC drilling at Starlight continues to deliver strong gold intercepts including:
- 14m @ 191.1g/t Au from 4m (20MORC068) including;
- 3m @ 884.7g/t Au from 5m including;
- 1m @ 2,518.8g/t Au from 6m
- 22m @ 5.8g/t Au from 15m (20MORC067) including;
- 3m @ 26.2g/t Au from 31m
- 5m @ 14.3g/t Au from 90m (20MORC064)
- 6m @ 5.3g/t Au from 232m (20MORC063)
Diamond drilling at Starlight has returned intercepts including:
- 16m @ 13.7g/t Au from 18m (20MODD008) including;
- 4m @ 40.8g/t Au from 18m and
- 9m @ 6.1 g/t Au from 25m
- 0.5m @ 25.4g/t Au from 269.5m (20MODD007)
Pantoro Limited advised today that its follow up RC drilling program at the recently discovered Panda Deposit has successfully extended mineralisation to the North and South, with mineralisation open in both directions along strike.
Results from the latest round of drilling include:
- 2 m @ 12.70 g/t Au.
- 2 m @ 9.10 g/t Au.
- 5 m @ 4.65 g/t Au.
- 3 m @ 9.41 g/t Au.
- 3 m @ 3.7 g/t Au.
- 3 m @ 4.12 g/t Au.
- 3 m @ 3.11g/t Au.
All drilling was focussed on potential open pit material, and as such the deposit remains open at depth. The deepest hole drilled to date is approximately 150 metres below surface returning 3 m @ 9.41 g/t Au suggesting continued high grades down plunge.
Commenting on the results, Managing Director Paul Cmrlec said: “Ongoing drilling at Panda has highlighted substantial strike and depth extensions beyond the initial discovery. Mineralisation has now been identified by drilling over a distance of approximately 530 metres and down to approximately 150 metres depth in the north. The deposit is shaping up to be another important ore source within the Scotia Mining Centre and further drilling will be undertaken to test the full extent of mineralisation and to define an initial Mineral Resource and Ore Reserve available for mining when operations recommence.
Pantoro has extended its drilling programs across multiple zones at Scotia as the real potential of the area has become clear. To date Pantoro has only completed exploration drilling outside of our resource development and extension activities at Panda and the Sailfish prospect on Lake Cowan. Both areas have produced outstanding results demonstrating the great potential for ongoing discovery at Norseman.”
A 36 METRE THICK ZONE OF SHALLOW GOLD MINERALISATION, INCLUDING 20m @ 2.3g/t gold from 64m.
Four-metre composite samples assay received for the first two RC drill holes targeting shallow gold mineralisation south of the historic Lord Nelson pit have been received, with gold mineralisation intersected in both drill holes.
Assay results include:
- 36m @ 1.6 g/t gold from 48m (SRC183) incl. 20m @ 2.3 g/t gold from 64m
- 4m @ 4.1 g/t gold from 112m (SRC182)
Managing Director, Matthew Bowles commented:
“These latest results from RC drilling 200m south of the Lord Nelson pit, confirm a new repeat lode of shallow gold mineralisation, up to 36 metres thick, which remains open along strike and down plunge. The mineralisation style of this new lode is the same as that of the Lord Nelson deposit and highlights the potential for a series of repeat lodes along the structural corridor that have never been systematically tested.
We see so much potential at Lord Nelson with high grade gold intersections in oxide, transitional and primary zones now extending the gold mineralisation footprint to over 870m. These results continue to highlight the presence of a large scale mineralised gold system, within the regional Edale Shear zone.”
Explorer and aspiring gold developer, Middle Island Resources Limited announced today updated resource estimates have been completed for the Shillington (including Shillington North) and Wirraminna gold deposits within the Company’s wholly-owned Sandstone gold project in the central goldfields of WA. The updated estimates follow completion of limited infill and extension drilling undertaken as part of the +30,000m 2020 exploration and resource definition drilling campaign at Sandstone.
The drilling, which is on-going, is exclusively focussed on the definition of additional open pit Mineral Resources prior to their inclusion for assessment as Ore Reserves in the project’s 2020 feasibility study (FS).
Managing Director, Mr Rick Yeates said“An increase of 27,800oz (or 52%) at the Shillington deposit is an extremely pleasing start in the Company’s plan to increase open pit Mineral Resources contributing to the FS.
“Limited additional RC and diamond drilling is planned at Shillington to address two small areas still classified as Inferred that are anticipated to fall within the optimum FS pit. “The updated Shillington and Wirraminna open pit deposits will now be re-optimised to determine the Mineral Resource likely to contribute to the FS, the outcome of which is looking increasingly positive.
“The Two Mile Hill open pit Mineral Resource is in the process of being updated, and we look forward to providing that information in the very near future. Resource estimates for all remaining deposits (old and new) will be progressively provided as results from the Phase 2 drilling campaign are received and compiled.”
Genesis Minerals Limited announced today that a major new drilling program has commenced at its 100%-owned Ulysses Gold Project in Western Australia, focusing on the recently acquired Kookynie tenement package. The drilling program, which will continue over the remainder of CY2020, will comprise a combination of Resource definition and expansion drilling along the Ulysses to Orient Well corridor.
Results from this program will feed into a Feasibility Study on the development of a significant standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources. Genesis is targeting completion of this Feasibility Study in the first quarter of CY2021.
Initial drilling will focus on approximately 1.8km of strike containing the Admiral, Clark and Butterfly Resources (Figures 1 and 2), which are estimated to total 4.6Mt @ 1.7g/t gold for 246,000 ounces. Drilling will include Resource confirmation and strike and dip extensional drilling in both structural orientations. Exploration drilling targeting repeat structures will also be completed following pit mapping, further structural interpretation and 3D modelling.
Genesis Managing Director, Michael Fowler, said: “This is a hugely exciting program for Genesis, providing our first opportunity to test the highly prospective mineralised corridor that lies between our flagship Ulysses deposit and the Orient Well deposit, which lies roughly 15km to the south-east.
This corridor has been shown to be highly mineralised, with current Resources of 1.28 million ounces over five deposits and some exceptional targets for growth. We believe there is very strong opportunity to significantly expand our current Resource base to underpin a long-life, standalone mining operation at Ulysses.
Drilling is currently underway with one RC rig already up on site, and a diamond rig and second RC rig expected to arrive in the next month.
We will also be undertaking air-core drilling on a campaign basis over the rest of the year. This should deliver a steady stream of news-flow for Genesis over the coming months, ahead of the planned delivery of an updated Mineral Resource and Feasibility Study for the standalone Ulysses Project in the first quarter of CY2021."
Pantoro Limited advised today an intersection of very high-grade gold mineralisation from the Sailfish Prospect at Norseman.
- Drilling returned 8.1 m@ 67.29 g/t Au from 78.6 m downhole.
- The intersection included 0.7 m@ 521 g/t and 0.25 m@ 252g/t Au.
- 3.9 m of core loss within the intersection is assumed to be O g/t in calculation of the weighted average ore interval. In general the core loss was adjacent to the very high grade core intervals within the broader intersection.
- Other significant intercepts include 1.8 m @ 4.25 g/t Au, and 3.5 m @ 2.56g/t Au.
- Confirms historical intersection of 1.5 m @461.47 gt/Au, drilled by Western Mining in 1992.
Commenting on the results, Managing Director Paul Cmrlec said: "These results from our initial eight diamond drill hole program at the Sailfish prospect on Lake Cowan highlights the immense exploration potential of the project, and in particular the likely presence of further very high-grade mineralisation that Norseman has been known for over many decades. Our exploration programs in these areas are in their very early stages and it is too early to speculate what the results may mean in the context of the broader project. Our geology team at Norseman continues to work with our key consultants to better understand the geometry and geological setting within the immediate area ahead of additional drilling. We are also working with our drilling contractors to increase the drill hole diameter in order to maximise core recovery in our future programs:'
Calidus Resources Limited announced today that it had received firm commitments to raise $25 million via a share placement. The bids received under the Placement exceeded the Placement Shares to be issued, and accordingly, some bids will be scaled to accommodate the strong demand. Proceeds of the Placement will be used to fund a dual strategy of commencement of works at the Warrawoona Gold Project in the Pilbara and enlarging the Company’s exploration programmes.
Calidus Managing Director Dave Reeves said: “This raising ensures Calidus can move quickly to maximise the full value of Warrawoona for shareholders. By pushing ahead with early construction works, we can maximise our ability to capitalise on the strong gold price and begin to generate cash flow. At the same time, we can ramp up our exploration program, which has significant potential to create further value.
Mincor Resources NL advised that ongoing diamond drilling at the Cassini nickel sulphide deposit at Kambalda has returned another exceptional high-grade nickel intercept which yielded 15.4m at 4.7% Ni including a massive sulphide high-grade core of 8.6m @ 7.0% Ni.
Mincor’s Managing Director, David Southam, said the Cassini deposit was continuing to yield impressive high-grade, high-tenor nickel intercepts with ongoing drilling, clearly demonstrating its potential as a cornerstone deposit for the Company’s nickel restart plans.
“The estimated true width of this latest intersection at 13.2 metres means this is the highest value intercept that Cassini has delivered so far – a fantastic achievement by our exploration team,” he said. “The deposit continues to evolve and grow with recent diamond drilling highlighting the thickness and high-grade nature of the mineralisation in the CS5 channel, which was only identified relatively recently. Pleasingly, today’s result is 73m along strike from MDD329W2, which yielded 6.3m at 7.1% nickel. This shows the potential for Cassini to continue to grow as drilling continues to track the key nickel-hosting channels down-plunge, typical of all Kambalda komatiite-hosted nickel sulphide deposits.”
Genesis Minerals Limited announced today it has intersected significant high-grade gold mineralisation from recently commenced resource upgrade drilling from within and adjacent to the 760,000oz Ulysses Mineral Resource located 30km south of Leonora in WA.
Initial assay results from the recently initiated drilling program have been received from drilling at Ulysses West. Drilling is targeting areas within and adjacent to the current Resource boundary. A further 15,000m of drilling will be completed over the coming few months to upgrade the top 200m of the resource in preparation for mining. Drilling will target approximately 1,000m of strike and some 300m of down-dip extent within and adjacent to the current Resource envelope.
- 9.05m @ 9.94g/t gold from 142.15m 19USDH079 ➢ including 5.6m @ 14.92g/t gold
- 3m @ 5.56g/t gold from 174m 19USDH080 ➢ including 0.87m @ 13.4g/t gold
- 1.73m @ 6.4g/t gold from 192.60m 19USDH081 ➢ including 0.68m @ 14.9g/t gold
- 6.24m @ 10.62g/t gold from 223.03m 19USDH083 ➢ including 4.63m @ 14.1g/t gold
- 6.14m @ 9.52g/t gold from 232.48m 19USDH085 ➢ including 2.82m @ 19.8g/t gold
- 3m @ 8.6g/t gold from 216m 19USRC378 ➢ including 2m @ 11.6g/t gold
Genesis Managing Director, Michael Fowler, said “Drilling has resumed and is now in full swing at Ulysses, with two rigs now operating to in-fill and extend the main Resource. A third rig should arrive over the next few weeks to speed up the program, which is essentially designed to upgrade the Resource in preparation for mining. The initial focus will be on upgrading the upper 200m of the Resource, although we will in time further test the edges of the Resource and further investigate potential down-plunge and strike extensions and repetitions. All of the information from the current program will be combined with recent drilling for inclusion in a Resource upgrade planned for Q4 this year.”
Gold Road Resources Limited, reported today the first gold bars were poured over the weekend at the Gruyere Gold Project (Gruyere), located approximately 200 kilometres east of Laverton in Western Australia. The three doŕe gold bars totalling an estimated 1139 oz were produced from the Carbon‐in‐ Leach CIL circuit.
Gold Fields Executive Vice President, Stuart Mathews, said: “The pouring of the first gold at a global Tier 1 gold mine like Gruyere is a significant achievement. Gruyere is a tremendous asset based on a world‐class orebody and a forecast long mine life. The Gruyere JV’s focus now shifts to the safe and successful ramp‐up to nameplate capacity to allow us to deliver full value to all stakeholders. I would like to acknowledge the outstanding safety performance of the construction team which achieved 3 million construction hours without a lost time injury.”
Gold Road Managing Director and CEO, Duncan Gibbs, said: “This weekend’s gold pour is a tremendous milestone given that the Gold Road team discovered the world‐class Gruyere orebody less than six years ago. Importantly, Gold Road joins the ranks of ASX‐listed gold producers as owner of a 50% stake in the world‐class Gruyere gold mine. Our work is far from done – we remain committed to exploring the highly prospective Yamarna Greenstone Belt to unlock the potential through the discovery of more resource ounces for Gruyere and new discoveries that could be developed as stand‐alone gold mines. I want to thank the entire Gold Road team and our Gruyere JV partner, Gold Fields, for the safe and successful delivery of first gold at Gruyere.”
The combination of a low Australian dollar and rising gold prices has pushed the Australian Gold Prices above AUD 2000 this morning. The rising gold price is a welcome boost to the Australian gold sector, which has helped lift leading Australian gold miners to record share values. Market leaders, including Northern Star and Evolution have seen intraday gains of over 7%.
In 2019, Mining Employment Services has seen a surge in labour needs in the gold sector in both gold exploration and gold production-based roles. The most significant job increases have been in Western Australia, where demand is outstripping supply.
Panoramic Resources Limited announced today that first shipment of bulk nickel/copper/cobalt concentrate from the Company’s recently recommissioned Savannah Project in the Kimberley region of Western Australia has departed Wyndham, bound for Lianyungang, China.
The MV Heemskerkgracht departedwith 7,735wmt of nickel/copper/cobalt concentrate on-board, with a preliminary invoice value of approximately A$ 8.6million.
Commenting on this milestone, Panoramic’s Managing Director, Peter Harold said “it is wonderful to see Savannah concentrate being shipped again from Wyndham. This is a significant milestone in the recommissioning of the mine and processing plant at Savannah and I would like to thank the team at Savannah for their efforts to get the project going again."
Northern Star today reported its financial results for the six months to December 31, 2018. The results reflected a combination of the strong performance at Northern Star’s Australian mines and the significant investment the Company made in its next round of growth, particularly at the Pogo gold mine in Alaska.
The Pogo acquisition, which was included in Northern Star’s accounts from September 28, 2018, helped underpin a 43 per cent increase in revenue from the previous corresponding period to A$633.5 million. This led to a 33 per cent increase in the interim dividend to A6¢, fully-franked, which is in keeping with the Company’s policy of paying dividends equal to 6 per cent of revenue. Underlying net profit was up 11 per cent from the same time last year at A$89.1 million and statutory net profit was 4 per cent higher at A$82.1 million.
Northern Star Executive Chairman Bill Beament said it was a solid result which was driven by the strong performance of the Australian operations and the upfront investment made in Pogo.
“We generated an industry-leading return on equity of 20 per cent excluding the Pogo acquisition, which is particularly exceptional when compared with the Van Eck GDX index 5-year average of negative 2.9 per cent,” Mr Beament said.
“At the same time, we invested a record A$83 million in exploration and expansionary capital, A$10 million of which was at Pogo.
As yesterday’s announcement demonstrated, the exploration results we are generating at Pogo are world-class and will help us achieve our objective of growing mine life, production and cashflow there.
But those sorts of results don’t come for free. We need to invest in Pogo in the same way as we have invested in our other Tier-1 operations and based on what we are seeing, I have no doubt we will reap significant returns from that investment at Pogo in the same way or better than we have done at Kalgoorlie and Jundee.”
International lead and zinc smelting company, Toho Zinc will invest $90M for a 40% ownership interest in Galena’s currently wholly-owned subsidiary AMPL, which owns Abra Base Metals Project in Western Australia. Toho and Galena each have a right to off-take their percentage share of Abra production on arms-length, benchmark terms, and then on-sell to third-parties.
Managing Director, Alex Molyneux commented, “This is a great transaction that provides the equity required to develop Abra, recognising the strategic value of the Project. Furthermore, Toho is a key player in the global lead and zinc industry and an experienced miner, so we look forward to the benefits of a true partnership in the development of Abra.”
RNC Minerals announced a new high-grade gold discovery at its Beta Hunt Mine.
Over the past week, approximately 9,250 ounces of high-grade gold was produced from a 44 m3 cut (130 tonnes) on 15 level at the Beta Hunt Mine (equal to over 70 ounces/tonne or 2,200 grams/tonne).
The high-grade gold (coarse gold and large gold-containing specimen stones) includes approximately 190 kg of specimen stone, the largest of which is 95 kg with an estimated gold content of 2,440 ounces and a second large specimen stone of 63kg with an estimated gold content of 1,620 ounces.
Final ounces will be determined once the coarse gold is processed and/or sold over the next week which is expected to yield approximately $16 million in cash. All of the high-grade coarse gold is hand-picked, direct ship ore and immediately sent directly to the Perth Mint.
Bellevue today announced their latest drill results which confirms the significance of the new >800 metre strike length discovery in the Tribune Footwall directly below the Bellevue underground workings - The Viago Lode.
- 4.3 m @ 58.8 g/t gold a result of over 250 gram metres (refer figure 1).
- Nearest drill holes are:
3.4 m @ 10.4 g/t gold & 0.3m @ 44.4g/t gold step-out drill hole 150 metres to the north in hole DRDD059 (refer ASX 17/07/2018)
11.4 m @ 9.6 g/t gold step-out drill hole 150 metres to the south in DRDD060 (refer ASX 17/07/2018)1
The latest drill result is considered highly significant by the company given the exceptional tenor of mineralisation and the wide spacings of the current drill grid (~240 metres). The result is very reminiscent of the high-grade bonanza ore shoots at the historical Bellevue mine in geology, grades and width.
Executive Director Mr Steve Parsons said, “We are very pleased with how this new discovery continues to firm up, with the latest drill result confirming the Viago Lode to be another significant discovery for the Company. To have intercepted visible gold mineralisation in all but a single hole with scout drilling over 800 metres of strike length is quite exceptional and now with the receipt of this latest bonanza grade intersection, the potential of the Viago Lode is starting to become clear.
To have a second, high-grade gold discovery in such a short period of time points to the quality of the Bellevue Lode system. We are very excited to add another drill rig and anticipate we will upgrade the recent maiden resource estimate in Q4 of this year.”
Northern Star Resources announced today that the Company yesterday hit its production rate target of 600,000ozpa. Production for the June quarter to date is 150,000oz. This takes the total for the financial year to date to 540,000oz, meaning Northern Star is on track to beat the top end of its FY2018 guidance of 540,000-560,000oz. All-in sustaining costs will be within the guidance range of A$1000-1050/oz. Northern Star Executive Chairman Bill Beament said the Company was poised to maintain the growth trend on the back of its highly successful exploration strategy and increased processing capacity.
“The recent acquisition of the 1.2Mtpa South Kalgoorlie mill, combined with our ongoing exploration success, will underpin continued production growth in our Kalgoorlie operations,” Mr Beament said. “This additional milling capacity provides increased flexibility in Kalgoorlie, where we have also just declared commercial production at the Millennium mine. “At Jundee, we are experiencing a similar scenario, with the processing plant now running at the rate of 2Mtpa on fresh underground ore.” Northern Star will provide production and cost guidance for FY2019 as part of its wider Strategic Update in early August.
Joint venture partners Tawana Resources and Alliance Mineral Assets announced today a 105% Reserve upgrade for the Bald Hill Lithium‐Tantalum Mine located in the eastern goldfields of Western Australia The Reserve upgrade reflects pit design changes resulting from increases to Indicated Resources following infill drilling completed in the second half of 2017. The Total lithium Resources of 26.5Mt at 1.0% Li2O now supports 9 years of production. The JV partners are currently reviewing options for significant expansion in processing capacity and concentrate production.
Tawana Managing Director Mark Calderwood said: “The increased Reserves along with the potential for additional Reserves resulting from infill drilling of Inferred material, provide strong support for significantly increasing processing throughput rates. We are actively reviewing the options to best increase throughput in the existing plant and/or add an additional DMS circuit and fines circuit. There has been strong interest from a number of parties to obtain concentrate supply from Bald Hill.”
Westgold Resources Limited announced today an update of its underground exploration into virgin areas of Paddy’s Flat ore system at its Meekatharra Gold Operations.
Their first underground drilling into the virgin zones beneath the Fenian’s–Consol’s spurs have returned spectacular results providing high-hopes for a continuation of these prolific high-grade lodes at depth, and importantly an impending boost to the overall ounce per vertical metre of the ore system. Best results include:
- 0.55m at 20.35 g/t Au from 324m
- 0.33m at 15.84 g/t Au from 304m
- 6.3m at 9.99 g/t Au from 327m
Gascoyne Resources Limited advised today that it has poured it's first gold bar from the new 2.5Mtpa processing plant at the Company’s 100% owned Dalgaranga Gold Project.
Dalgaranga contains a Measured, Indicated and Inferred Resource of 31.1Mt @ 1.3 g/t for 1,320,000 ounces of contained gold, which is inclusive of Proved and Probable Ore Reserves of 15.3Mt @ 1.3 g/t for 612,000 ounces of gold. The Company remains focused not only on ramping up to full production, but also an ongoing aggressive exploration effort aimed at increasing the mine life towards 8-10 years, as well as progressing the Glenburgh Gold Project, the Company’s second +1.0 million ounce gold project in Western Australia.
Mike Dunbar the Company’s Managing Director said:
“To say that I am pleased to have poured our first gold would be a massive understatement. The Company has managed to put together a fantastic team which has grown the global resource base from under 200,000oz on listing, to now having two gold projects which each contain more than 1 million ounces, and progressed Dalgaranga through feasibility. We have built a 100% owned new gold processing facility and associated infrastructure under budget and ahead of schedule, and now poured first gold.
The construction of the Dalgaranga mine would not have been possible without the Company’s Director of Operations and Development, Mr Ian Kerr who with his highly experienced (but small) development team of Warren King and Garry Moore, along with GR Engineering’s Team of Andrew Bennett and Matt Gordon have delivered the project ahead of schedule and under budget. A very rare feat indeed.
With the plant now operational, the aim for the next few months is to achieve consistent performance from all aspects of the process plant.
While the recent attention has been on delivery of the Dalgaranga Gold Project, the Company remains focused on continuing the exploration success that has so far resulted in discovery of over 2 million ounces of gold since listing. The current 75,000 metre drill programme is split between Dalgaranga, to extend the mine life to 8 – 10 years, and Glenburgh, where exploration outside the known 1.0 million ounce resource base is aiming to increase the global resource prior to feasibility and ultimately development.”
Artemis Resources Limited advises today that it has submitted a wide-ranging Programme of Works (“POW”) with the Western Australian Government’s Department of Mines, Industry, Regulation and Safety (“DMIRS”) to start an extensive drilling, trenching and bulk sampling programme immediately west of Novo Resource Corp’s (“Novo”) Comet Well Project. In addition, Artemis also provided and update on gold nuggets recovered (3.6kg) from the current ground rehabilitation works underway at 47K Patch.
David Lenigas, Artemis’s Executive Chairman, said “Artemis has now identified ~67 kilometres of potential gold-bearing conglomerates associated with the Mt Roe Basalt contact, immediately west of Novo Resources Comet Well 6 kilometre long conglomerate gold project. Our exploration and bulk sampling programme is about to commence in earnest at 47K Patch, the source of the many gold nuggets reported today. Applications have also gone in with the DMIRS for an extensive exploration programme immediately to the west of Novo’s Comet Well.”
Syrah Resources Limited announced today that it has signed a purchase agreement for an industrial site for its Battery Anode Material (BAM) development in Vidalia, Louisiana. Under the terms of the agreement, the purchase price of US$1.225 million is for a 25 acre site with an existing building.
Shaun Verner, Managing Director & CEO said, “With the purchase agreement for the Vidalia site, we continue to progress our initial entry into the BAM market. Consistent with our approach in Mozambique, Syrah is committed to environmental sustainability and community engagement through development and into operations. The Company’s recently awarded ISO Certifications for Health, Safety and Environmental management systems for its Balama Operation demonstrates the Company’s commitment to global best practice.”
In a strategy to focus its efforts on its larger long-life Murchison gold assets, the Board of Westgold Resources Limited has agreed to sell its South Kalgoorlie Operations to Northern Star Resources Limited.
South Kalgoorlie Operations operates Jubilee Processing Plant as its mining hub. In recent years the HBJ Underground Mine has operated as the core feed with additional smaller open pit and low-grade stockpile sources providing approximately 60% of plant capacity. The remainder of plant capacity has been filled by toll processing third party ores from the region.
Westgold has agreed to sell its wholly-owned subsidiaries that collectively make up the South Kalgoorlie Operations; Dioro Exploration Pty Ltd, HBJ Minerals Pty Ltd and Hampton Gold Mining Areas Ltd. The consideration for the sale is $80 million (with working capital adjustments). The purchase consideration is made up of $20 million in cash and $60 million in unrestricted fully paid ordinary shares in Northern Star calculated at a backwards-looking 10-day VWAP.
Westgold will retain its lithium royalties over the Mt Marion Lithium Mine and the rights to lithium exploration and mining over Location 53 and 59.
Westgold Managing Director Peter Cook said:“This is a nice deal for both parties. It provides Northern Star with additional and instant plant capacity in the Kalgoorlie region for its expanding gold operations. For Westgold, it divests our shortest life asset, provides a cash boost and upgrades the overall quality of our gold portfolio. As at June 30, 2017, South Kalgoorlie Operations had Ore Reserves containing 252,000 ounces which was 7.45% of the groups total Ore Reserves. SKO has produced 24,000 ounces in the first half of this financial year”.
Blackham Resources Limited announced an operational update for the month of January at its Matilda-Wiluna Gold Operation. Access to high-grade zones in the M4 and Galaxy Pits was achieved late in the Dec’17 quarter, enabling record monthly gold production of 6,498oz. This resulted in Blackham achieving a record low monthly AISC in Jan’18 of A$1,158/oz, in comparison to an average realised gold price during the month of A$1,663/oz, demonstrating a clear step change in economics. Milled grade and gold production are expected to continue to improve. The operation is now building high-grade stockpiles for the first time since March 2017.
“With the Operation’s production at record levels and a significant reduction in AISC having already been achieved, the Company is clearly demonstrating that its operational turnaround is well underway. This operational performance, in conjunction with the current strong AUD gold price, is expected to make 2018 a transformational year that is expected to generate significant cash flows and value for Blackham and its shareholders.” Blackham’s Executive Chairman, Mr Milan Jerkovic, said.
Australian lithium developer, Pilbara Minerals Limited announced today that it has executed a binding terms sheet with Great Wall Motor Company, one of China’s largest automotive manufacturers, to further underpin the Stage 2 expansion of its 100%-owned Pilgangoora Lithium/Tantalum Project in Western Australia.
The agreement – encompassing up to 150,000tpa of Stage 2 chemical-grade spodumene concentrate off-take, Stage 2 debt financing support and a $28 million upfront equity subscription for Pilbara shares – represents the first direct investment by an automobile manufacturer into an upstream supplier of lithium raw materials.
“This marks an important milestone for Pilbara and the Pilgangoora Project and is a significant development for the rapidly evolving lithium-ion raw materials supply chain globally,” said Pilbara’s Managing Director and CEO, Ken Brinsden.
“It highlights the strategic importance for the global automotive sector of securing access to large-scale, consistent, high-quality sources of battery raw materials in low-risk jurisdictions. Attracting a company of Great Wall’s size and calibre as a long-term off-take and funding partner is a strong endorsement for the Pilgangoora Project and the Company. We are also delighted that they will be joining our share register as a strategic investor.
While this deal reflects the remarkable progress being made in China, we are also witnessing increasing interest from battery and automobile manufacturers outside of China looking to secure their future lithium requirements, in response to an increasing global market shift towards electric vehicles and off-grid storage.
In conjunction with the rapid expansion in spodumene conversion capacity currently being rolled out in China to supply the battery market beyond electric vehicles, these themes highlight the fundamental demand for lithium, which comes at an opportune time for the Company as we look to complete our Stage 1 development at Pilgangoora and pursue further growth via the Stage 2 expansion,” Mr Brinsden added.
Australian Private equity house EMR Capital to take 80 pct stake in Zambia copper mine at the cost of $125m after it purchased copper zinc mine Golden Grove from MMG in December. The Lubambe Mine held equally by ARM and Vale International. EMR chief executive officer Jason Chang said the Lubambe acquisition reflected the firm’s confidence in the quality of the project as a long-life copper producer located in Zambia’s most prolific mining region, the Copperbelt. "We are pleased to enter into an agreement to acquire Lubambe, which offers exceptional quality and growth potential and which will substantially enhance the value and depth of our copper portfolio. "EMR will continue to focus on copper, gold, potash and coking coal acquisition opportunities globally,"
St Barbara Ltd was last night named ‘Digger of the Year’ at the 26th Diggers & Dealers mining forum in Kalgoorlie, Western Australia. The prestigious award recognises the significant turnaround achieved by the St Barbara team over the past three years.
The award citation presented by Nick Giorgetta, Chairman of the Diggers & Dealers forum, highlighted the achievement by St Barbara to “convert a company that was previously considered to have an uncertain future into a company that consistently meets or exceeds expectations. This turnaround is a credit to the entire St Barbara team because it was a genuine team effort that we should all be proud of. The challenge for us now is to use the same energy and commitment that drove the turnaround to drive the next chapter in St Barbara’s growth.”
The award recognises the huge effort by all of St Barbara's employees during an at times difficult period and the turnaround has positioned St Barbara with world-class operations, a first-rate team culture, no debt and an exciting future.
St Barbara Managing Director and CEO, Bob Vassie, accepted the award on behalf of the Company at last night’s Diggers & Dealer's gala dinner.
Metals X Limited recommenced underground drilling in November 2016 shortly after taking control of the Nifty Copper Operation. To date, approximately 20,000 metres of diamond drilling outside of the mining area has been completed with the objective of extending the Ore Reserve up plunge, down-plunge and within the limbs of the folded carbonate units within the Nifty syncline. Although a substantial number of assays are still pending, results to date confirm significant extensions of mineralisation outside of the current mining areas.The drilling has returned some exceptional and long intercepts of well-developed copper mineralisation which are analogous to the Nifty ore system.
Metals X Managing Director, Warren Hallam, said: “We are very pleased with the results to date that clearly confirm the upside potential of this outstanding ore system. We are confident that we will grow Nifty into a large, long-life mine and that Nifty will continue to be a significant copper producer for years to come”. “We are excited by the exploration potential within the Throssell Ranges and believe that there is substantial opportunity for further discoveries. We have commenced our regional exploration program with the drilling of a Nifty look-alike target at the Finch Prospect, 20 kilometres south-east of Nifty that is also on the same regional copper-trend. A second rig has also been deployed to test the down-plunge extent of the Nifty syncline on the basis of results from the recent deep seismic surveys.” “In addition, drilling will commence at our Maroochydore Prospect in August after the completion of the current Finch program. Maroochydore is located approximately 85 kilometres south-east of Nifty and already hosts a large copper oxide deposit with over 500,000 tonnes of contained copper metal at a grade of approximately 1% copper. More recent deeper drilling has also identified the upper zones of the primary chalcopyrite sulphide mineralisation. The objective of the program is to explore for another Nifty at depth”.
According to a job vacancy report by Engineers Australia, demand for mining engineers has almost doubled in Western Australia over the last year.
Industry leaders say the turnaround signals growth in mining activity, as small and medium-sized companies move towards production, particulary in the gold industry.
Our clients are saying it is getting harder to find the right candidates for their vacancies.
The Australian Statistics Bureau said today that Australian employment surged in May, fueled by a large uptick in full-time jobs, underscoring a strong labour recovery through the first half of 2017 with the jobless rate declining to 5.5% from 5.7%