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Comet Ridge Limited (ASX:COI) is pleased to advise that the Mahalo JV participants (Comet Ridge 57.14% and Santos 42.86%) have executed an agreement with Jemena Queensland Gas Pipeline (1) Pty Ltd and Jemena Queensland Gas Pipeline (2) Pty Ltd (collectively, Jemena) to undertake Front End Engineering Design (FEED) on a new Mahalo Gas Hub Pipeline (MGHP).
Key points:
- The Mahalo Joint Venture has engaged Jemena to undertake Front End Engineering Design (FEED) on the planned Mahalo Gas Hub Pipeline (MGHP) to connect the Mahalo JV Project to the Queensland Gas Pipeline (QGP) and GLNG Pipeline.
- Jemena is currently funding the Pipeline FEED cost.
- The Pipeline FEED will run in parallel to the Mahalo JV Project Upstream FEED (announced 6 Dec 2024).
- Jemena operates a diverse portfolio of energy assets in northern Australia and Australia’s east coast, including the QGP which runs between Wallumbilla and Gladstone in Queensland.
- Jemena may construct the MGHP on a build own and operate basis following completion of FEED and subject to achieving a final investment decision (FID).
- This is a significant step in Comet Ridge’s plans to develop meaningful gas supply to fill the looming supply gap for gas in Australia’s east coast energy market.
The proposed MGHP will be a DN250 (10 inch) Class 900 pipeline, connecting the planned Mahalo JV compression facilities to the Queensland Gas Pipeline (owned and operated by Jemena) and the GLNG Pipeline. It is proposed, subject to FID, the MGHP will connect the Mahalo JV’s gas fields and processing facilities to the gas market hubs of Gladstone and Wallumbilla in Queensland (see Figure 1).
Jemena may construct the MGHP on a build, own and operate basis once Pipeline FEED is completed and subject to the Mahalo JV Project FID. Jemena is currently funding the cost of the Pipeline FEED which is intended to be rolled into the total pipeline construction cost assuming Jemena proceeds with construction of the MGHP.
Comet Ridge Managing Director, Tor McCaul, said: “Commencing Pipeline FEED is an important milestone for the Mahalo JV Project. All workstreams are now being progressed to enable a final investment decision to be reached at Mahalo, which is well positioned to contribute as a near-term solution to the growing strain on east coast gas markets.
“We are especially pleased to commence this relationship with Jemena, a high-quality pipeline operator in Australia that provides regional synergy to Comet Ridge for the transport of gas to key gas market hubs on the east coast.”
Figure 1: Mahalo Gas Hub assets and proposed path of pipeline corridor connection to existing pipelines and domestic and LNG markets in Queensland
About Jemena and the Pipeline FEED
Jemena owns and operates a diverse portfolio of energy assets across northern Australia and Australia's east coast. With more than $12.4 billion worth of major utility infrastructure, Jemena supplies millions of households and businesses with essential services every day. Jemena has more than a century’s experience and expertise in the utilities sector and a strong portfolio of high-quality distribution and transmission assets, with a focus on opportunities for growth and innovation in its operations.
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This article includes content from Comet Ridge 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.
Drilling Commences at the Kanowna East Gold Project
Key Points
- High impact drilling has commenced at Kanowna East, targeting basement gold systems at the Western Tiger and Little Lake Prospects, only 25kms NE of Kalgoorlie.
- Program designed to test prospective structural settings and alteration zones along the Reidy Fault and newly recognised northeast gravity trends.
- Targeting the potential source of widespread paleochannel gold occurrences identified from historical drilling.
- Strong cash position of ~$3 million ensures a well-funded campaign and supports strategic exploration momentum.
Figure 1: Ragland Drilling RC Drill Rig at AX8’s Little Lake Prospect, Kanowna East Project.
The 2,000m reverse circulation (RC) program is testing structurally controlled, basement- hosted gold targets at the Western Tiger and Little Lake Prospects (Figure 2). These targets have been selected based on structural complexity, geophysical modelling, and geochemical signatures indicative of gold-bearing systems.
Figure 2: Western Tiger & Little Lake geology interpretation with planned RC drill hole locations (green triangles).
At Western Tiger, drilling is focused on the undrilled western margin of a felsic intrusive unit interpreted to have been emplaced along the Reidy Fault. Sericite alteration, arsenic- antimony pathfinder anomalies, and recent structural reinterpretations highlight the area as a priority for potential gold discovery.
At Little Lake, newly processed gravity data has defined northeast-trending features interpreted to intersect northwest fault systems—structural zones commonly associated with gold mineralisation in the Kalgoorlie district. These trends correlate with previously intercepted basement-hosted gold and offer a compelling test of the Company’s exploration model.
“Commencing drilling at Kanowna East marks an important milestone in Accelerate’s gold strategy,” commented Chief Executive Officer Luke Meter. “We’re testing targets with geological signatures consistent with major orogenic gold systems in the Eastern Goldfields and success could substantially enhance the value of our gold portfolio near Kalgoorlie.”
With a strong financial position, Accelerate remains well-funded to execute its exploration strategy across multiple growth-stage gold assets in WA.
The Company looks forward to updating shareholders as drilling progresses and assays become available.
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This article includes content from Accelerate Resources 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.
Extensions and New Zones of High Grade Tin at Bygoo North
HIGHLIGHTS
- Scale of Bygoo Tin Project continues to grow with the discovery of new zones of tin mineralisation during the Company’s second RC drilling campaign
- Very broad zone of tin mineralisation at the Stewart’s Lode extended along strike with:
- 118m @ 0.32% Sn from 44m in BRC015 (unconstrained internal dilution); including
- 29m @ 0.53% Sn from 44m, including 8m @ 1.17% Sn from 45m
- 12m @ 0.45% Sn from 116m; and
- 28m @ 0.52% Sn from 146m
- Caspin’s maiden drilling at the Smith’s Lode returns further high-grade tin with:
- 16m @ 0.68% Sn from 49m (BRC013); including
- 5m @ 1.73% Sn & 1.45% Cu from 53m;
- Drilling identifies a further new zone of mineralisation named ‘Radius’, between Dumbrell’s and Smith’s, with:
- 16m @ 0.48% Sn from 124m (BRC016); including
- 2m @ 2.05% Sn & 0.37% Cu from 128m
- Wide zones and high-grade tin mineralisation now drilled over +1,000m of granite contact zone with large gaps in drilling and open along strike.
- High resolution aerial magnetic survey covering ~800km2 to commence shortly
Caspin’s Managing Director, Mr Greg Miles, commented “These results are an exciting epilogue to our maiden drilling program at the Bygoo Project. We are delighted with intersecting 16m @ 0.68% Sn in our first drill hole at Smith’s, including a high-grade zone of 5m @ 1.73% Sn, coupled with 1.45% Cu, the highest-grade copper result by Caspin to date. Another 100m-plus intersection of tin mineralisation at Stewart’s also confirms continuity of ‘bulk’ mineralisation, at very shallow depths. And finally, a new zone of tin mineralisation at ‘Radius’ result demonstrates verifies Caspin’s geological model and growing understanding of key controls to tin mineralisation.
“Most importantly, we now recognise the tin mineralisation potential over greater than 1,000m of shallow granite contact strike at Bygoo North. Drilling is quickly demonstrating that Bygoo North has excellent potential to grow into a tin project with substantial scale. Drilling will continue to target new zones of tin mineralisation and extensions of known areas of shallow tin mineralisation along strike.”
Since acquiring the project, the Company has invested considerable time to understand the geology and controls on mineralisation at Bygoo North. Using the previous exploration data as a base and steadily importing other legacy data such as drilling from the 1970s, the Company is developing a new geological model for the prospect. The Ardlethan Granite contact can now be traced over 1,000m at the prospect, with greisen-style mineralisation developed variably along its entirety (Figure 1).
Figure 1. Location plan of mineralisation and relationship to granite contact at Bygoo North, with significant intercepts. The prospective granite horizon represents the potential for greisen mineralisation on the granite contact to approximately 100m below surface.
These latest results provide further evidence that mineralisation is constrained only by drilling. There are obvious additional drill targets for further exploration. A planned high-resolution aerial magnetic survey, commencing in the following weeks, will further assist refinement of the geological model and hence the targeting process, particularly the several kilometres of untested granite contact to the north and south.
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This article includes content from Caspin 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.