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High Grades Continue At Ironbark & Mulga Bill
Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update on recent drilling programs at the Side Well Gold Project (“SideWell”) near Meekatharra and the Whiteheads Project north of Kalgoorlie in Western Australia.
Highlights
- Final results received for Phase 2 RC drilling at Ironbark, plus initial results at Mulga Bill and Flagpole. Highlights include:
- 11m @ 7.31g/t Au from 46m, incl. 4m @ 15.27g/t Au from 47m (Ironbark - 22IBRC017)
- 28m @ 1.13g/t from 64m, incl. 8m @ 2.91g/t Au from 84m in (Ironbark - 22IBRC013)
- 4m @ 25.89g/t Au from 210m, incl. 2m @ 49.73g/t Au from 210m (Mulga Bill - 22MBRC022)
- 3m @ 9.39g/t Au from 86m (Flagpole - 22MBRC020)
- RC Drilling is ongoing at Mulga Bill with a third round of RC drilling at Ironbark to commence shortly. A concurrent auger drilling program underway to identify potential Ironbark analogues over a prospective c.7km strike length
- Whiteheads AC drilling results have been received highlighting shallow gold anomalies over the Arsenal trend requiring follow up RC drill testing
Great Boulder’s Managing Director, Andrew Paterson commented:
“Ironbark is continuing to provide plenty of excitement with another very high grade, shallow intersection at the south end. We’re planning to start a third round of Ironbark definition drilling in the next few days to continue defining these high-grade zones.”
“Early results from RC drilling at Flagpole demonstrate the potential for it to become another high- grade zone within the 6km Mulga Bill corridor, and Mulga Bill itself continues to provide more high- grade intersections. There will be more news from those programs in the weeks ahead.”
“While the drilling has been underway our field team has also started auger sampling along the target area south of Ironbark, where we have more than 7km of untested stratigraphy. We are hoping to make more Ironbark-style discoveries in this area over the second half of the year.”
Click here for the full ASX Release
This article includes content from Great Boulder 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.
EIS Funding of $180,000 Awarded for Drilling at Caligula, a Significant Copper Target at the Arkun Project, WA
Impact Minerals Limited's (ASX:IPT) is pleased to announce that it has been awarded $180,000 under the WA Government’s Exploration Incentive Scheme (EIS) to co-fund drilling of the Caligula copper prospect at the company’s 100% owned Arkun Project located 150 km east of Perth in the emerging mineral province of southwest Western Australia (Figure 1 and ASX Release January 4th 2024).
- Co-funding of up to $180,000 awarded under the WA Government’s EIS scheme to drill the large and significant Caligula copper target identified in soil geochemistry data and Mobile Magneto-Telluric (MMT) data.
- Caligula comprises a 5 km by 1 km soil geochemistry anomaly containing copper-silver-cobalt+/- tellurium-bismuth-molybdenum associated with numerous conductors identified in the MMT data that may represent disseminated or massive sulphides.
- Infill and extensional soil geochemistry surveys have been completed to help define specific drill targets with assays due this Quarter.
- The statutory approvals process for a drill programme has now commenced.
- The aircore drill programme at the Hyperion Prospect, which forms part of IPT’s broader Arkun Project, has been completed. Hand-held XRF data is being interpreted to help select samples for assaying, with results expected later this Quarter.
Caligula is 15 km west of the Hyperion Rare Earth Element prospect anomaly, where an aircore drill programme was recently completed (ASX Releases January 4th 2024 and April 19th 2024). The Arkun project was also recently expanded with three new tenement applications (Figure 1 and ASX Release March 14th 2024).
Impact Minerals’ Managing Director, Dr Mike Jones, said, “This award validates our exploration programmes at Arkun over the past few years. Caligula is one of many geochemical and geophysical targets we have at the project and so the information we will gain from the proposed drill programme will add immensely to our knowledge of this poorly exposed and poorly explored area. We will now start the statutory approvals process for the drilling. We have just completed our maiden drill programme at Hyperion to test for Rare Earth Elements and are interpreting the handheld XRF data to select samples for assaying, and we are looking forward to those results”.
Figure 1. Location and regional geological setting of Impact’s Arkun and other projects shown in blue in the emerging mineral province of southwest Western Australia. Significant nickel deposits are shown in orange, lithium deposits in green and gold deposits in yellow.
Soil Geochemistry Results
The Caligula prospect comprises an area of anomalous copper-in-soils that extends over about 5,000 metres north-south and up to at least 2,000 metres east-west. It is open to the east and the southwest (Figure 2). The copper is associated with anomalous silver and cobalt and, in the southern part of the anomaly, also has a strong association with bismuth, tellurium and lesser molybdenum (Figure 2). Details about the soil geochemistry results were included in the ASX Release of January 24th 2024.
Click here for the full ASX Release
This article includes content from Impact Minerals, 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.
Tartana Drilling to Verify Upgrading of 45,000 Tonne Copper Resource
Tartana Minerals Limited (ASX: TAT) (the Company), is pleased to advise that it has commissioned AED drilling to complete a 300m diamond core PQ hole to provide bulk samples for both Tomra ore sorting and for standard copper flotation testwork. Drilling is scheduled to commence this week and will take approximately two weeks to complete.
Highlights:
- AED commissioned to drill a PQ diamond hole for metallurgical sampling
- Drill path is sited below TRC098 which previously intersected 77 m @ 0.62% Cu with the hole also improving geological interpretation and resource integrity
- Metallurical testwork will focus on ore sorting testwork where initial samples returned a 100% increase in grade and retained 76% of the metal content
- Copper flotation testwork will also be conducted to verify earlier reports which indicated high recoveries to a copper concentrate
- Positive results from the testwork will support the development of the Tartana open pit copper resource which currently stands at 45,000 t of contained copper and remains open at depth
“It is great news that we have been able to secure a rig to complete this important hole in a time when there is a high demand for drilling across the industry.
“The results of the testwork will contribute to the mine plan for the Tartana open pit and the Company is investigating options for treating the primary ore. Oxide and transition ore can be treated by the existing heap leach – solvent extraction crystallisaion plant which is current producing copper sulphate pentahydrate and which is sold through our offtake partner, Kanins International.’”
Tartana Primary Copper Project Background
The Company submitted copper mineralised samples in 2022 to Tomra for ore sorting testwork given that the primary copper mineralisation in the Tartana open pit appears restricted to stockwork and bedding plane veins in a host rock of benign arkosic sandstone. As expected, the preliminary testwork was positive and indicated a potential 100% increase in copper grade using the Tomra X-ray transmission sorter and adding back the finer material after crushing to 30 mm. The contained copper recovery was 76% of the overall samples.
Click here for the full ASX Release
This article includes content from Tartana Minerals 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.
March 2024 Quarterly Cash Flow Report
Impact Minerals Limited's (ASX:IPT) has released its Quarterly Cash Flow Report.
This article includes content from Impact Minerals, 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.
March 2024 Quarterly Report
HIGHLIGHTS
1. Lake Hope, WA (IPT 80%)
- Greater than 99.99% (4N+) High Purity Alumina (Al2O3) is produced from Lake Hope mud via the proprietary and patented Playa One Sulphate Process and a new low-temperature leach process called the LTL Process.
- The Sulphate Process underpins the recent Scoping Study, which demonstrated an NPV8 of A$1.3 billion for the project and an estimated operating cost to produce 4N HPA up to 50% lower than anyone else globally at less than US$4,000 per tonne.
- The LTL Process produced 4N within a few months, attesting to a simpler process that may lower the Capital and Operating Costs to produce HPA than the Sulphate Process.
- The LTL Process will now be integrated into the ongoing Pre-Feasibility Study at marginal extra cost.
- Production of larger quantities of HPA can now commence using the now- optimized Sulphate Process to demonstrate consistent quality to potential customers.
- Preliminary discussions with potential customers indicate very strong demand for 4N HPA.
- The Pre-Feasibility Study is on schedule to be completed in late 2024.
- Rare Earth Element anomalism of up to 5,880 ppm (0.59%) Total Rare Earth Oxide plus Yttrium (TREO+Y) and Nd+Pr of up to 21% returned from a soil geochemistry survey at the Hyperion prospect. The anomaly covers at least a 3 km2 area at greater than 1,000ppm TREO and is open along strike to the northwest and southeast.
- Another new prospect, Swordfish, and the previously identified Horseshoe prospect attest to the significant prospectivity for REE mineralisation across the Arkun project.
- Soil geochemistry and Mobile Magneto-Telluric (MMT) data at the Caligula Prospect identified a large and significant target for porphyry copper mineralisation. A 5 km by 1 km soil geochemistry anomaly contains the key metal assemblage of copper-silver-cobalt+/-tellurium-bismuth-molybdenum, all indicators of porphyry copper mineralisation, such as that found at Boddington and Calingiri in the same region of Western Australia.
- Infill and extensional soil geochemistry surveys, together with a detailed interpretation of the MMT data completed to define the extent of Caligula and identify specific drill targets.
- Three new Exploration Licence applications submitted immediately north of the Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe as well as the Caligula copper anomaly. The new licences cover a further 720 km2 and increase the size of the Arkun project to 2,900 km2 in the emerging mineral province of southwest WA.
- Statutory approvals and land access agreements are in progress for a maiden drill programme at Hyperion and other targets, along with negotiations with drilling contractors.
3. Commonwealth Project (IPT 100%)
- Agreement signed for the sale of up to 75% interest in the Commonwealth Project, NSW.
4. Other Projects
- Broken Hill: data synthesis and interpretation in progress on all data collected during the BHP Xplor Programme.
- Doonia: assays received highlighting large gold and lithium-in-soil anomalies. The company is currently assessing its options for the project.
- Southwest regional: No significant soil results were returned on the Dinninup and Mineral Hill projects, and they have been relinquished subsequent to the Quarter.
Click here for the full ASX Release
This article includes content from Impact Minerals, 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.
Quarterly Activities/Appendix 5B Cash Flow Report
Norfolk Metals Ltd (ASX:NFL) (Norfolk or the Company) is pleased to report on its activities during the 3-month period ended 31 March 2024.
ORROROO URANIUM PROJECT
- Maiden drill campaign completed successfully delineating uranium in 10 of 17 holes drilled
- Exploration continuing with land access engagements, geophysics and subsequent drill program(s) planning in progress
- Additional permit EL6948 granted expanding project area to 723km² total of 100% owned exploration tenure
ROGER RIVER GOLD PROJECT
- Soil study completed with successful reanalysis of historical samples
CORPORATE UPDATE (including activities subsequent to quarterly period end)
- Exclusivity and due diligence deed executed for Las Alteras uranium project in Argentina
- Strong financial position with $2.91m cash at March 2024 quarter end which was increased subsequently through a strategic placement of $415,746
Orroroo Uranium Project, South Australia
Norfolk Metals Ltd (Norfolk or the Company) is pleased to advise the maiden drill program was completed with a further 5 holes drilled across EL6552 being drilled in Phase 2 of the program in January 2024, taking the total number of holes completed in the maiden program to seventeen (17) (Figure 1). Phase 2 of the program sought to test the palaeochannel model at the Wongway Creek Target (formerly Target 1) where suitable drill access was available. A total of three (3) holes were drilled along the river traverse of the Wongway Creek Target testing both upstream and downstream regions. One (1) hole was drilled downstream of the No Name Creek Target (formerly Target 3) as well as the Rankin Rd Target (formerly Target 4). The completion of the maiden drill program has successfully delineated uranium in ten (10) of the seventeen (17) holes providing data for the Company to further develop a geological model of the Walloway Basin (Figure 3). Most importantly, the interpreted uranium bearing floodplain intersected upstream of Wongway Creek gives Norfolk confidence in the palaeochannel model and future exploration efforts can be planned accordingly. Peak grade of 796ppm pU308 was intersected in ORMR007.
*peak grade(s) noted are the direct detection of pU308 over a 0.02m interval by Prompt Fission Neutron downhole logging within a composite intersection with a cut-off grade greater than 100ppm pU308.
Figure 1. All drill collars completed in maiden drill program with Section A-A reference for Figure 3
Floodplain Interpretation
The pre-drilling model was targeting the presence of prospective palaeochannels approximately 100 to 150 metres to the south of the modern-day creeks associated with uranium intersected in historical Linc Energy Wells. Drilling results from Phase 1 indicated that the uranium in the Linc Energy Wells appeared to be associated with a secondary permeability created by downward displacement of the sediments resulting from basement faulting or soft sediment deformation. Phase 2 drilling continued to test the targeted prospective palaeochannels located to the south of the modern-day creeks at closer than expected distance of 50m. Younger palaeochannels were seen south of the modern-day creeks in ORMR004 (Walloway Creek Target) and ORMR016 (Rankin Rd Target) at the base of the regolith. This further supports the model of palaeochannels occurring south of the modern-day creeks due to a change in regional slope.
Drillhole ORMR015A was drilled 50m south of the modern-day creek at Wongway Creek Target. Drilling upstream from previous holes enabled easier location of the targeted prospective and potentially wider palaeochannel. This hole encountered what appears to be a silt dominated floodplain with minor gravel and two elevated gamma anomalies signifying uranium towards the top of this unit as well as the base of this unit (Figure 2). This unit appears to be the middle section of a palaeochannel between the sand and gravel dominated incising part of a palaeochannel and the clay dominated edge of a floodplain.
Click here for the full ASX Release
This article includes content from Norfolk 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.
Craig Hemke: Gold's Next Price Target, Key Silver Factors to Watch
Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal.
In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy.
With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, and he said that's probably the next point to watch for. While those heights won't necessarily be achieved this year, Hemke thinks gold could finish the period at US$2,400 or US$2,500.
Taking a step back to provide a look at the larger picture for gold as well as silver, he emphasized the importance of preparing for the inevitable collapse of the current debt-based system.
"You reach a terminal phase, and I think we're finally now getting there, where the debt is growing exponentially and so quickly that the amount of new fiat money creation even just to service the debt — it all just begins to spin tighter and tighter and out of control," he explained during the interview. "Your protection against that sort of collapse has always been the ownership of physical gold and physical silver too."
Watch the interview above for more from Hemke on gold and silver.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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