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Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide an exploration update on the Guyer Well Target Area.
Highlights
- High-grade rock chip assays have been returned from the Guyer target area with assays including:
136g/t Au 126g/t Au 67.4g/t Au 18.3g/t Au 15.5g/t Au. - Gold bearing rock chips support existing targeting work.
- Ongoing fieldwork has discovered over 700 gold nuggets along the Guyer Trend to date.
- More than 100 gold nuggets have been recovered during the last 4 weeks.
- Results from Guyer South AC drilling have identified bedrock gold anomalism beneath transported cover.
- Exploration work has located historic workings associated with the 11km long granite contact and the 7km long banded iron formation (BIF) Trend at Guyer.
- Mineralisation associated with granite contacts or BIF trends occur at major regional mines such as King of the Hills, Mt Morgans, Granny Smith and Sunrise Dam.
- Elevated tellurium (Te) in Guyer rock chip results is similar to nearby gold deposits known to have tellurides, like the Sunrise Dam, Wallaby and Jupiter gold deposits.
- The Guyer North target is presently being prepared for the commencement of exploration drilling.
Technical Director David Nixon commented:
“New high-grade gold results have been discovered within the Guyer target area, providing strong evidence of deeper buried mineralisation being revealed at surface by the Company’s ongoing exploration work.
The high-grade rock chip results from in-situ outcrop are exciting because they confirm and support the existing gold UFF+ soil anomalies.
The Guyer South AC drilling results also demonstrate that gold anomalism is concealed beneath deep transported cover.
The Guyer target area continues to deliver in-situ gold bearing rock chips and significant numbers of gold nuggets over key areas, and these results continue to strengthen the previous results from broad spaced Air Core holes, specifically at Guyer North, where a number of significant targets are being prepared for future exploration drilling”.
Figure 1 Gold rock chip assays across the Guyer Well target area and the Guyer South AC results.
Ongoing rock chip sampling across the Guyer target area has delivered several significant gold results, that include several high-grade gold results at Granite Contact South, Guyer North and East Well. The gold anomalism is supported by multi-element geochemistry, which reinforces the anomalies.
The majority of gold anomalous samples are hosted by quartz veining in granite, andesite or sediments, sometimes displaying evidence of sulphides or boxworks after sulphides.
Peak gold values from rock chip sampling include the following results:
Guyer North
Rock chip samples from the Guyer North prospect returned significant gold results that support the existing gold anomalies. Gold mineralisation was associated with quartz veining in andesite on the eastern side of the ridge at Guyer North. A number of these samples had anomalously high silver values when compared to gold. This geochemical relationship could be indicative of an earlier epizonal style of mineralisation.
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This article includes content from Icenic Gold, 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.
New Phase of Growth Drilling Commences at High-Priority Gradina Prospect at Rogozna
Highlights:
- 10,000m diamond drilling program commences at the Gradina Prospect, where a recently completed access track provides the ability to drill-test shallower zones of gold mineralisation for the first time.
- High-grade gold mineralisation has been delineated at Gradina over ~1km of strike, at vertical depths of ~200m -1,000m below surface, with ~21,000m of previous drilling returning significant intercepts including1:
- 27.5m @ 5.1g/t Au from 439.8m (ZRSD20124);
- 32.0m @ 6.8g/t Au from 595m (EOKSC1361b); and
- 22m @ 4.0g/t Au from 691m (ZRSD21143).
- Based on geophysical and geochemical datasets, this thick high-grade gold mineralisation is projected to extend to near-surface, potentially representing the shallowest deposit at Rogozna alongside the outcropping Copper Canyon.
- Given the extent of high-grade mineralisation defined to date, Gradina represents a high-priority gold target for the delineation of a significant initial Mineral Resource estimate in the near term.
- Four drill rigs are currently operating across the Rogozna Project, with assay results pending for multiple holes.
- Strickland remains extremely well-funded, with $48.7 million in cash and NST shares as at the end of the June Quarter.
Diamond drill rig in operation from new access track at the Gradina Prospect, Rogozna Project.
Exploration Update
Strickland Metals Limited (ASX: STK) (Strickland or the Company) is pleased to advise that a new phase of drilling has commenced at the high-priority Gradina Prospect, part of its 100%-owned ~5.4Moz AuEq Rogozna Gold and Base Metals Project2 in Serbia (Figure 2).
The drilling program follows the recent completion of a new access track at Gradina, enabling drilling to target near- surface extensions of high-grade mineralisation previously encountered at depth.
Gradina is one of four skarn-hosted gold and base metals deposits at Rogozna and represents a key target for the delineation of a near-term initial Mineral Resource Estimate, contributing to the continued rapid growth of the Rogozna Project.
Strickland’s Managing Director, Paul L’Herpiniere, said: “This new program at the Gradina Prospect provides a very exciting opportunity to follow-up significant widths of high-grade gold mineralisation previously encountered at depth. Having constructed a new access track over recent months, we can now drill-test the Gradina system close to surface for the first time in the Project’s history.
“All available datasets indicate that the steeply dipping mineralised lodes encountered in previous drilling extend up- dip towards surface. If we are successful in drilling similar widths and tenor of mineralisation near-surface, we expect that this high-priority target will rapidly take shape and make a considerable contribution to the growth of the Rogozna Resource inventory over the next 12 months.”
Gradina Geology
The Gradina Prospect is characterised by multiple steeply-dipping, NNW-trending zones of gold (+/- copper, zinc) mineralisation occurring over ~1km of strike, with the mineralisation remaining open both along strike, at depth and up-dip towards surface.3
Along its strike extent, the Gradina mineralisation is spatially associated with gold + associated pathfinder geochemical anomalism in soils (Figure 1) and multiple coincident geophysical anomalies, including gravity, IP and remanent magnetism anomalies (Figure 2). All these datasets indicate that the mineralisation is likely to extend close to surface, particularly at the southern end of the system, where there is an absence of volcanic cover.
At the southern end of the prospect, the surface geology is characterised by steeply west-dipping limestone, with a swarm of ENE-trending quartz latite dykes cutting across the carbonate stratigraphy and extending through to the Copper Canyon deposit ~500m to the east.
Previous drilling at Gradina was carried out with collars positioned in a valley to the immediate west of the deposit, where access was easiest, with mineralisation intersected at vertical depths of ~200m to 1,000m below surface (Figure 3).
At the northern end of the prospect, the surface geology consists of hydrothermally altered andesite, which sits unconformably above the host carbonate sequence. Previous drilling of the northern extents of the system was conducted from the same valley access track, with mineralisation encountered at depths of ~400m to 600m vertically below surface (Figure 4).
In terms of mineralisation style, the gold mineralisation is associated with pyrrhotite and lesser amounts of arsenopyrite, with chalcopyrite and sphalerite occurring in localised areas.
The mineralisation at Gradina is the most gold-dominant of the four currently identified deposits at Rogozna (comprising the Shanac, Copper Canyon, Medenovac and Gradina deposits), with gold at Gradina accounting for ~90% of the contained metal.
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This article includes content from Strickland 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.
40% Increase in Indicated Resource in Gold Domain and 60% in Copper Domain for Nueva Sabana Deposit
Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) is pleased to report a revised Mineral Resource Estimate (‘MRE’) for the first stage of the proposed Nueva Sabana copper-gold mine in central Cuba. The updated MRE follows completion of a 2,000m in-fill drilling program.
Brightstar Completes Montague East Acquisition with BTR Group Mineral Resources Now 2.0Moz Au
HIGHLIGHTS
- Brightstar has completed the acquisition of the Montague East Gold Project (MEGP) from Gateway Mining Limited
- The completion of the acquisition of the mineral resources at the MEGP signifies the strategic addition of shallow, advanced ounces to Brightstar which is aligned with the Company’s strategy of advancing multi assets towards near term commercialisation
- The MEGP is located 70km from the Sandstone Gold Project, which is owned by Alto Metals Ltd, which is currently undertaking a merger with Brightstar by way of a Scheme of Arrangement
- $5 million cash consideration paid and 466.67 million Brightstar shares issued to Gateway
- Deferred contingent consideration of $2 million in Brightstar shares subject to further project milestones, including:
- upon the commencement of commercial mining operations in respect of the gold mineral rights at MEGP, or
- the delineation of a JORC Mineral Resource Estimate on the tenements exceeding 1.0 Moz Au.
- Following completion, the sale by Gateway of the consideration shares will be subject to orderly sales restrictions in consultation with Brightstar
- Brightstar is planning a drilling program to commence at the MEGP in late October, targeting infill and extensional targets within and proximal to the Mineral Resources located at the advanced Whistler and Montague-Boulder deposits
- Completion of the MEGP acquisition adds a further 9.6Mt @ 1.6g/t Au for 0.5Moz Au to Brightstar’s JORC Mineral Resource Estimate
- Total mineral endowment owned by Brightstar now 38.3Mt @ 1.6g/t Au for 2.0Moz Au
For further details regarding the Transaction please refer to the Company’s ASX announcement released on 1 August 20241.
Brightstar’s Managing Director, Alex Rovira, commented“The completion of the acquisition of the Montague East Gold Project from Gateway achieves the first step in Brightstar’s previously announced consolidation plan of the Sandstone district, adding shallow ounces and a meaningful Mineral Resource inventory to our portfolio of advanced exploration, development and producing gold assets in Western Australia.
We are working towards mobilising an RC drill rig to the Montague-Boulder and Whistler deposits in late October, which contain ~280koz Au of shallow, largely oxide material. It is our intent to move the Montague East Gold Project swiftly through resource drill-out and feasibility study workstreams to advance this asset towards development.
With 2Moz of gold Mineral Resources situated on granted mining leases in the Company, combined with our low capex growth plans and near-term development and production expansion, Brightstar is well placed to maximise value of the portfolio in an all-time high gold price environment.
Recent drilling success across the Lord Byron, Fish and Second Fortune deposits has illustrated the immense upside in the Company’s projects, as we seek to grow the Mineral Resource and de-risk future development through the DFS underway.”
MONTAGUE ACQUISITION
Brightstar, via its wholly-owned subsidiary Montague Gold Project Pty Ltd (MGP), has acquired the interests held by Gateway and its wholly owned subsidiary Gateway Projects Pty Ltd (GPWA) in certain mining tenements in respect of Gateway’s Montague Gold Project, with Brightstar obtaining 100% of the gold mineral rights and Gateway retaining all other mineral rights.
The total consideration paid by Brightstar in respect of the Montague acquisition is $14.0m, comprising:
- an upfront cash payment of $5.0m;
- 466,666,667 Brightstar shares issued at an implied issue price of $0.015 per share for $7 million worth of fully paid Brightstar shares (Gateway Consideration Shares); and
- $2.0m payable in cash or Brightstar shares, upon the commencement of commercial mining operations in respect of the gold mineral rights, or the delineation of a JORC Mineral Resource on the tenements exceeding 1.0 Moz Au.
Following Completion, the sale by Gateway of the Gateway Consideration Shares will be subject to orderly sales restrictions in consultation with Brightstar.
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This article includes content from Brightstar 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.
