McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States. The company's overall revenue is principally derived from the production of gold and silver, each comprising roughly half of total sales. The company owns and operates the wholly-owned El Gallo 1 mine in Mexico, and has a minority shareholding in the company that operates the San Jose mine in Argentina. More than half the company's gold output is produced by the El Gallo 1 mine. The remaining gold production, and majority of silver production, is produced by the San Jose mine.
Substantial down dip extensions to large shallow gold deposit
Medallion Metals Limited (ASX:MM8, the Company or Medallion) is pleased to report extensional drilling results down-dip of the Gem deposit within the Kundip Mining Centre (KMC)(Figures 1&2). KMC is host to a JORC 2012 Mineral Resource Estimate (“MRE”) of 1.37Moz AuEq @ 2.60g/t AuEq
- Assays from 2022 drilling continue to extend Gem down-dip;
- 7m @ 5.3 g/t Au, 0.44 % Cu, 5.2 g/t Ag from 161m (RC22KP1095) including
- 1m @ 26.4 g/t Au, 2.65 % Cu, 23.4 g/t Ag from 164m
- 5m @ 7.1 g/t Au, 0.37 % Cu, 2.8 g/t Ag from 209m (RC22KP1099) including
- 1m @ 22.7 g/t Au, 1.0 % Cu, 7.8 g/t Ag from 210m
- 5m @ 6.3 g/t Au, 0.09 % Cu, 1.05 g/t Ag from 123m (DD22KP961)
- 1m @ 34.7 g/t Au, 2.36 % Cu, 27.0 g/t Au from 103.1m (DD22KP1035) including
- 0.55m @ 62.6 g/t Au, 4.27 % Cu, 48.4 g/t Ag from 103.1m
- 10m @ 2.5 g/t Au, 0.16 % Cu, 1.95 g/t Ag from 131m (RC22KP1106)
- 8m @ 2.8 g/t Au, 0.12 % Cu, 1.3 g/t Ag from 77m (RC22KP1106) including
- 5m @ 3.4 g/t Au, 0.47 % Cu, 5.2 g/t Ag from 181m (DD22KP1077)
- 7m @ 2.7 g/t Au, 0.27 % Cu, 2.0 g/t Ag from 242m (RC22KP1101)
- 1m @ 7.5 /t Au, 1.23 % Cu, 9.3 g/t Ag from 243m
- 12m @ 0.95 g/t Au, 0.04 % Cu, 1.2 g/t Ag from 147m (RC22KP1095)
- 7m @ 5.3 g/t Au, 0.44 % Cu, 5.2 g/t Ag from 161m (RC22KP1095) including
- Drilling results post-date the cut-off for recent Mineral Resource Estimate (MRE) with reported intercepts all situated at the extremities, or outside the 2022 Inferred category
- Mineralisation at the western end of Gem continues to exhibit multiple shallow dipping high-grade quartz-sulphide lodes with significant opportunity for additional resources to be added to the current MRE
Managing Director, Paul Bennett, commented:
"Ongoing results from the 2022 extensional drilling program continue to expand mineralisation at Gem. The majority of results received are at the periphery of, or outside the recently updated 1.4 million ounce gold equivalent Mineral Resource giving us great confidence that further resource growth can be expected. Mineralisation appears open at depth with future drilling being planned to further our understanding of the full scale of the Kundip system.”
This article includes content from Medallion Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Red River Resources Limited (ASX: RVR) is pleased to report visible gold in drill hole BKC008 from its drilling underway at Bakers Creek, part of its Hillgrove Gold Project in New South Wales. The drilling aims to identify extensional mineralisation at the historic Bakers Creek Mine, which produced 304koz of gold from 176kt of ore from ~1880 - 19161.
- Significant visual gold in Red River’s first hole at Bakers Creek (BKC008), discovers extensional gold mineralisation at the historic mine
- Assays returned 4.50m @ 29.5 g/t gold (Au) and 0.3% antimony (Sb) from 466.0m downhole including
- 0.45m @ 257g/t Au from 467.75m
- 50+ pieces of visible gold observed ranging from sub-millimetre to 2mm2 in size (Figure 1)
- Bakers Creek historically produced more than 300,000oz of high-grade gold1 and was the most productive deposit in the Hillgrove field
- It has seen minimal exploration in the past century, with Red River’s BKC008 only the fourth hole drilled through Little Reef since mining ceased around 1921
- Red River’s follow-up hole BKC009 is currently being drilled, with two further holes planned to test targets around the Bakers Creek historic workings.
Priority assays from 15.8m of core drilled at BKC008 returned 0.45m @ 257g/t Au from 467.75m within 4.50m @ 29.5 g/t Au and 0.3% antimony (Sb) from 466.0m.
Red River Managing Director Mel Palancian said:
“We are blown away by the high-grade gold from the first hole at our Bakers Creek drilling, exceeding our expectations and it’s just the start of our drill program. This result could be a game changer for us at Hillgrove.
“Bakers Creek produced high-grade gold more than 100 years ago, but it has seen only minimal modern exploration since then. Our first hole was a big step out from the workings and is showing signs there may be much more of this high-grade gold mineralisation yet to be discovered.
“We will continue drilling at Bakers Creek to discover extensions to the gold mineralisation and build our resources at Hillgrove.”
This article includes content from Red River Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Bonanza result sits within numerous wide lower-grade intersections less than 3km from the 5Moz operating Florida Canyon Gold Mine
PolarX Limited (ASX: PXX, “PolarX” or ‘the Company”) is pleased to report outstanding assays which confirm bonanza gold and silver grades in mineralised veins associated with Carlin style mineralisation at the Star Canyon prospect within its Humboldt Range Project in Nevada, USA.
- Maiden Reverse Circulation percussion (RC) drilling at Star Canyon in the Humboldt Range Project has returned exceptional results.
- The results highlight potential for Star Canyon to host high-grade gold and silver veins within a potentially bulk mineable Carlin-style system in Nevada, a world-class precious metals province
- The results include:
- 9.1m @ 124.36 g/t Au & 48.6 g/t Ag from 27.4m to 36.6m depth in hole BC22- 005, including 3m @ 371g/t Au & 143.5g/t Ag.
- 73.2m @ 0.28 g/t Au from 36.6m to end of hole in Carlin-style mineralisation immediately down hole from the bonanza intersection in BC22-005.
- 42.7m @ 0.32 g/t Au, including 25.9m @ 0.48 g/t Au from 19.8m (BC22-007). This is also spatially associated with a broad zone of silver mineralisation over 59.4m @ 3.5g/t Ag from 3m depth.
- 61m @ 0.19 g/t Au from 39.2m (BC22-004).
- Broad Carlin-style gold and silver mineralisation occurs throughout the tested part of the soil anomaly and the central mineralised limestone corridor.
- The mineralisation remains open and largely untested for the extension of bonanza grade veins.
- The Star Canyon prospect is part of a much larger anomalous gold & silver zone known to contain many other mineralised veins with bonanza grade potential.
- In light of these strong results, PolarX is prioritising follow-up drilling at Star Canyon and the associated Ridgeline Target.
The maiden RC drill program at Star Canyon consisted of 10 Reverse Circulation (RC) percussion holes to test the strong gold and silver anomaly identified from PolarX’s soil sampling program (Figure 2, Tables 1 and 2 and see ASX announcement 16 February 2022). Drill holes were largely set to west dipping inclinations due to the angle of the terrain to test the bulk tonnage potential of the anomaly. The RC drilling program has only tested an area of 600m x 400m within the soil anomaly which measures 2,500m x 1,000m.
The Star Canyon prospect lies with the Black Canyon claims at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold (see Figure 6) and the Rochester Mine is about 20km south of the Fourth of July claims.
This article includes content from PolarX Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Kaiser Reef Limited (ASX:KAU) (“Kaiser” or the “Company”) is pleased to report encouraging drilling results from the ongoing A1 Mine diamond drilling programme and also updates from the Maldon development project.
The drill holes from A1 continue to target both near term mining and new deeper medium- term discoveries. Kaiser is delighted that the ongoing drilling is delivering the intended results which are to provide mining team with an increased range of mining options. These new lode positions are key to the ongoing development and expansion plans for future production.
A1 Mine Drilling Results
This batch of drilling results from the ongoing A1 Mine programme returned further excellent high-grade results such as:
A1UDH-477: 0.8m @ 157.6 g/t gold
A1UDH-479: 0.5m @ 154.3 g/t gold
A1UDH-480: 0.2m @ 19.2 g/t gold
A1UDH-481: 1.9m @ 17.5 g/t gold
A1UDH-482: 1.5m @ 11.8 g/t gold
See the table of drill results included in this release for a complete list of zones of gold mineralisation intercepted. This is following the intervals returned in the last releases to the ASX that included better results including an interval of A1UDH-472: 4.6m @ 135.7 g/t gold (ASX - 2 May 2022) and A1UDH-476: 1.92m @ 43.2 g/t gold (ASX – 10 June 2022).
These results (Figure 2) provide critical mine planning information for future mining of the previously identified reef systems as well as suggesting potential discoveries of several new reef systems.
The drilling programme is ongoing as per the 2021 plan with the rig(s) moving between A1 and Maldon to allow processing of drill core, final assays and ongoing Mineral resource Estimate calculations.
Assay results with geological descriptions of anomalous intersections are presented in the table below, with typical assay turnaround of approximately 40 days. A1UDH-480, -481, - 482 results have now been received. All of the drill holes intercepted the high-grade Sovereign Reef just below the drill cuddy as expected. There were several other significant intersectionsinA1AUD-481. Unfortunately, A1UDH-480 and -481 intersected old workings of Duke’s and Queens Reef stopes respectively and were abandoned. A1UDH-482 encouragingly did intersect the Perseverance Reef (0.9 m @ 12.74 g/t).
This article includes content from Kaiser Reef Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.