Golden Mile Resources is a project development and mineral exploration company, with a focus on growing the company with a multi asset and multi commodity strategy through advancing core projects, acquisition of high-quality assets, and tactical alliances with joint venture partners. Golden Mile’s value proposition is driven by a highly experienced leadership team with proven expertise across the resources sector from exploration to development and production.
Golden Mile Resources (ASX:G88) is a Western Australia-based resource company with critical metals exploration projects in Western Australia and Arizona, USA. The company’s near-term focus is on advancing its newly acquired Pearl copper project in Arizona, located in the world-class Laramide Porphyry Belt. The company’s longer term focus includes the advancement of the Quicksilver nickel-cobalt project, located in Western Australia, which has an indicated and inferred resource of 26.3 Mt @ 0.64 percent nickel and 0.04 percent cobalt.
Golden Mile is also focused on strategic alliances with joint venture partners to maintain exposure without expense on its other assets, such as its Leonora JV (Patronus Resources earning up to 80 percent) project and Gidgee JV (Gateway earning up to 80 percent). Concurrently, the company’s leadership team will consider potential divestment or JVs of its non-core assets, and also aims to build up a new portfolio of high-quality multi-element assets, from discovery to development.
Overall, the company is focused on creating shareholder value, supported by a management team and board with a proven track record of exploration, development and production success. Led by managing director Damon Dormer, a mining engineer with over 26 years of experience, Golden Mile is well positioned to execute its strategy moving forward.
Golden Mile secured the Pearl copper project in August 2024. Located in Arizona, the asset hosts more than 50 artisanal copper workings and shares similar geological characteristics to the San Manuel-Kalamazoo and Pinto Valley porphyry copper mines. The project exhibits widespread surface alteration highlighted by rock chip samples of 7.3 percent copper, 0.43 percent molybdenum, 19.9 percent lead, 4.9 percent zinc and 360 g/t silver.
The most significant working within the project area are the Pearl and Ford mines. The Pearl mine is located on the north-western portion of the Pearl project within the Odyssey prospect. It produced up to 60,000 tons of ore containing copper oxide and sulphide, lead, silver and gold from largely artisanal workings from 1915 to 1941 (Force, 1997).
Historical records from the Ford mine, located within the Pearl copper project mine claims, have reported lead assays from 5.7 percent to 31.3 percent, copper assays from 5.8 percent to 10.6 percent and that gold increases in the deeper levels from 0.01 oz to 0.54 oz (16.7g/t) (Baird, 1942).
Significant upside from organic exploration exists given Pearl’s geographic location, situated in the heart of the world-class Laramide Porphyry Copper Belt and 1 km of the San Manuel mine (historic production of 4.7 Mt) that has been operating for 44 years.
A tier 1 mining jurisdiction, Arizona represents approximately 70 percent of domestic US copper production. The Pearl project was historically mined from 1915 to 1941.
In 2018, Golden Mile announced an indicated and inferred maiden resource estimate of 26.3 Mt @ 0.64 percent nickel and 0.04 percent cobalt. Metallurgical testwork completed in 2023 significantly improved understanding of the unique saprolitic mineralisation at the project and a potential pathway to production.
The company has also identified a customized multi-products flowsheet to produce nickel-cobalt and iron-nickel-cobalt-chromium concentrates, as well as industrial products. The process would require low energy using the physical attributes of the free digging ore.
A mining engineer with over 26 years of experience, including 15 years in mine management and executive roles, Dormer has worked in studies, projects, operations and innovation across Australia, USA, Papua New Guinea and Africa. Dormer has had considerable success turning around mining projects and studies resulting in the construction of multiple mines in Africa, as well as significant operational success in Australia. He has also been heavily involved in mining innovation and has personally developed techniques and strategies for the mining industry. Dormer holds a Bachelor of Engineering in Mining from the Western Australian School of Mines and has held numerous statutory appointments across the African and Australasian regions.
Francesco Cannavo is an experienced public company director with significant business and investment experience working with companies operating across various industries, including in particular mining exploration companies. Cannavo has been instrumental in assisting several listed and unlisted companies achieve their growth strategies through the raising of investment capital and the acquisition of assets. He is currently a non-executive director of Western Mines Group (ASX:WMG) and Stemcell United (ASX:SCU).
Grant Button is a qualified accountant and has significant commercial management and transactional experience. He has over 30 years of experience at a senior management level in the resource industry. He has acted as a managing director, executive director, finance director, CFO and company secretary for a range of publicly listed companies. Most recently, Button has been managing director of Magnum Mining & Exploration (ASX:MGU), and was previously the position executive director of Sylvania Platinum.
Michele Alessandro Bina is a former investment banker based in Hong Kong and is an adviser to Beijing Gage, the parent company of Gage Resource Development (Gage). Bina joins the existing board of Alice Queen as a non-executive director as the nominee of Beijing Gage Capital Management (Beijing Gage).
Justyn Stedwell has over 17 years of experience as a company secretary of ASX listed companies and has also served as a non-executive director on several ASX listed company Boards. He holds a Bachelor of Commerce from Monash University, a graduate diploma in accounting from Deakin University and a graduate diploma in applied corporate governance from the Governance Institute of Australia.
Martin Dormer is an exploration geologist with over 27 years’ experience in mineral exploration and resource development, from greenfields through to feasibility. His experience spans multiple commodities including precious, base metal, and industrial metals across a wide range of geological settings and jurisdictions. Dormer has worked in multiple locations around the globe, including Australia, Asia, and Africa in senior management positions in the private and public sectors. He has also operated a private geological consultancy, Unearthed Elements, for the past 14 years. Dormer is a graduate of the WA School of Mines in Mineral Exploration and Mining Geology and is a member of the Australian Institute of Geoscientists and the Australian Institute of Mining and Metallurgy.
Kalgoorlie Gold Mining (ASX:KAL) (‘KalGold’ or ‘the Company’) has commenced aircore drilling at two new exploration target areas within the Pinjin Gold Project on 9 October 2024 (Figure 1).
Figure 1 – New drill areas (pink labels) that are the focus of the new drill program at Pinjin. Projection: MGA 94 Zone 51.
Testing Two New Gold Target Areas
The aircore drill program currently underway focuses on two new exploration target areas at Kirgella West and Kirgella East (Figure 1). The target areas are both located near to the Kirgella Gift and Providence deposits where the Company recently defined a JORC (2012) Inferred Mineral Resource of 2.34 Mt at 1.0 g/t Au for 76,400 oz (ASX: KAL 25 July 2024). Both target areas show promising structural and geological complexity that has potential to host gold mineralisation. These targets have not been previously drill-tested and so are undergoing first-pass, widely spaced drilling in this program.
The initial program is scheduled to run for two weeks, drilling up to 4,500 m across key target areas in priority order.
KalGold Targets Untapped Potential in Southern LTZ
This marks KalGold’s first systematic assessment of the gold potential of the greater Pinjin Project area. For the first time, we are moving beyond historic efforts at Kirgella Gift and Providence, and the Wessex prospect adjacent to the Anglo Saxon gold mine.
KalGold believes the southern part of the Laverton Tectonic Zone (LTZ) holds significant potential, comparable to its northern end, which hosts major gold deposits like Sunrise Dam, Granny Smith, Wallaby and the Laverton Goldfield (Figure 2). The southern LTZ, remains underexplored due to poor surface exposure and limited historic exploration efforts. However, recent discoveries like Rebecca in the LTZ and Breaker/Lake Roe in the adjacent Celia Tectonic Zone show the area’s potential. KalGold aims to make similar discoveries on its LTZ tenure.
Figure 2 – KalGold’s Pinjin Gold Project within the Laverton Tectonic Zone, showing current targets, work programs and other major deposits of the region. 50km grid. Projection: MGA 94 Zone 51.
KalGold believes that drilling is the only effective way to test the LTZ on our Pinjin Gold Project, given transported cover over much of the area. Typically this approach results in several misses, but it also has the potential for significant discoveries. By applying a scientifically rigorous approach, KalGold is increasing its chances of success, focusing on key target areas that display geological, geophysical and geochemical hallmarks of gold mineralisation.
Progress will be driven by results, as well as logistics. Currently, KalGold is working to secure a new heritage survey over the area, with a focus on E28/3134. Heritage clearance of the unexplored eastern areas is important for on-ground investigation where the high-grade metamorphic rocks of the Rebecca sequence are interpreted to be juxtaposed by the LTZ against the host sequence of the Pinjin Goldfield. Additionally, known palaeochannel distributions are considered, allowing for initial exploration of shallow targets before potentially pursuing targets at depth as the palaeochannels can be over 100m deep.
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This article includes content from Kalgoorlie Gold Mining 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.
Barrick (NYSE:GOLD)(TSX:ABX) will release its Q3 2024 results on Thursday, November 7, 2024. President and CEO Mark Bristow will host a live presentation of the results that day in London, UK, at 11:00 EST 16:00 UTC, with an interactive webinar linked to a conference call. Participants will be able to ask questions.
The company will release its preliminary production, sales and cost information for Q3 2024 on October 16, 2024.
Q3 RESULTS ANNOUNCEMENT
The webinar will remain on the website for later viewing and the conference call will be available for replay by telephone at 1 855 669 9658 (US and Canada toll-free) and +1 412-317-0088 (international toll), replay access code 8607451.
The Q3 2024 presentation materials will be available on Barrick's website at www.barrick.com.
Enquiries:
Claudia Pitre
Investor Relations and Corporate Access
+1 416 307 5105
Email: cpitre@barrick.com
Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
News Provided by GlobeNewswire via QuoteMedia
Highlights:
These high-grade gold assays continue the trend found in our original rock chip discoveries at Titan1 by emerging from quartz-iron veining and are therefore not analogous to conglomerate mineralisation. This veining structure will vary throughout Titan but the structure continues to demonstrate its potential. We are looking forward to further gold exploration at Titan and over the greater Carlow tenement.”
Titan Prospect
The Titan prospect is located towards the northern part of the Carlow tenement E47/1797, in the West Pilbara region of Western Australia. Titan has had minimal exploration work conducted previously other than broad spaced soil sampling and a constrained moving loop transient electromagnetic survey (MLTEM).
Figure 1. Artemis West Pilbara tenements with current known prospects named
The Company has followed up the preliminary ground reconnaissance undertaken in August 2024 with a second phase of sampling. This second phase has confirmed the previously reported over-limit assay results and also identified further potential mineralised areas through the discovery of additional high grade, previously untested quartz/iron-oxide veins. In total, 97 samples were collected and sent to the laboratory for processing. The majority of samples were collected from in-situ veining with some sub-crop and three float samples.
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This article includes content from Artemis 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.