52% Increase in gold resource at MDI's Sandstone project

Fri, 24/07/2020 - 08:31 (not verified)
Exploration Geologist

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 starts major drilling program

Thu, 23/07/2020 - 08:57 (not verified)
Genesis Exploration

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."

Very High Grades at Pantoro's Lake Cowan

Tue, 21/07/2020 - 09:51 (not verified)
Pantoro Exploration

Pantoro Limited advised today an intersection of very high-grade gold mineralisation from the Sailfish Prospect at Norseman.
Key Highlights

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 to accelerate exploration and construction

Fri, 17/07/2020 - 12:28 (not verified)
Caidus Resources

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.

Bonanza near surface hit of 18m @ 179.4g/t gold at Starlight

Tue, 09/06/2020 - 12:19 (not verified)
Break of Day

Musgrave Minerals Ltd announced today assay results for a further seven reverse circulation (“RC”) drill holes from the current program at the new Starlight gold discovery. The Starlight link-lode at the Break of Day deposit is located on the Company’s 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district. The drilling is focused on infilling and extending the new high-grade Starlight lode where mineralisation has been intersected over a strike of more than 115m and remains open down-dip and along strike.
Musgrave Managing Director Rob Waugh said “These are amazing gold grades to see in near-surface drilling. Our deepest holes to date are still in high-grade mineralisation at 200 vertical metres where Starlight remains open down dip. The bonanza grades near-surface will have a significant positive impact on future development at Break of Day.”

More High Grade hits for Mincor

Wed, 25/09/2019 - 11:16 (not verified)

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.”

More High-Grade drilling results at Ulysses

Mon, 09/09/2019 - 11:05 (not verified)

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.
Results Include

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.”

Gruyere Pours First Gold Bars

Mon, 01/07/2019 - 10:52 (not verified)
Goldroad Jobs

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.”

Gold Price at Record High - Over AUD2000

Thu, 20/06/2019 - 13:33 (not verified)
Gold Jobs

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.

Egina Gold Project Advances with US $30 Million Farm-in

Mon, 10/06/2019 - 10:55 (not verified)

Novo Resources Corp announced today that it has entered into a US $30 million farm-in and joint venture agreement with Sumitomo Corporation of Tokyo, Japan, and its wholly-owned Australian subsidiary in order to advance Novo’s Egina project located approximately 80 km south-southwest of Port Hedland.
“Novo’s Egina project is an early-stage, high-potential gold project,” commented Dr. Quinton Hennigh, Chairman and President of Novo Resources Corp. “Sumitomo, upon conducting their own technical review, has developed a similar opinion. It is remarkable for an exploration company to team up with a world-class finance partner like Sumitomo. With Sumitomo’s financial backing, we aim to quickly advance Egina through exploration and test-extraction phases with the ultimate goal, should results prove favourable, of setting the project on a path to production. Novo has been developing the relationship with Sumitomo for many years, built on a foundation of mutual trust and respect. The combined teams have the technical capacity to advance this unique gold deposit and we are honoured to work with Sumitomo’s capable technical team.”