The Conversation (0)
Podium Minerals Limited (ASX: POD, ‘Podium’ or ‘the Company’) is pleased to announce a new Mineral Resource Estimate (MRE) at its 100% owned Parks Reef PGM Project in Western Australia. The Inferred resource for the PGM reef now contains 6.0Moz of 5E PGM1.
Highlights:
- The upgraded MRE of 143Mt for 6.0 Moz at 1.30g/t 5E PGM represents a doubling of contained 5E PGMs
- Included within the new MRE are defined high-grade zones, ≥2g/t 5E PGM, one zone exists adjacent to the hanging wall of the PGM horizon and the other zone is located adjacent to the footwall
- The high-grade zones host a combined 15.7Mt for 1.17Moz at 2.32g/t 5E PGM (1.27g/t Pt, 0.84g/t Pd, 0.14g/t Au, 0.04g/t Rh and 0.03g/t Ir)
Managing Director and CEO - Sam Rodda commented:
“It is deeply satisfying to see this significant upgrade to our MRE. The team has been working diligently for several months on this project and we are pleased with the outcome. The quantum of the upgrade should come as no surprise to shareholders who have followed our recent drilling results, and is attributable to the remarkable consistency of the Parks Reef orebody.”
“The most exciting part of this orebody resource programme is the successful definition of the high-grade zones within the total PGM reef width. These high-grade zones have mining widths suitable for selective open-cut mining as well as underground stoping methods, these zones will allow our study team to consider options of higher grade mining and processing versus bulk methods to optimise value at Parks Reef.”
“I would like to take this opportunity to thank our team who have worked on the delivery of this upgrade. We are lucky to have such skilled team members applying their collective experience on a project that continues to break new ground with respect to Australian PGM projects. The team is aligned in the effort to develop and progress Parks Reef to become Australia’s first PGM supplier and this MRE upgrade is a significant milestone on that journey.”
Click here for the full ASX Release
This article includes content from Podium 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.
Trigg Acquires Globally Significant High Grades High Tonnage Antimony Project
HIGHLIGHTS
- Trigg signs purchase agreement to acquire the 100% of the Achilles project which contains the globally significant high-grade and high-tonnage Wild Cattle Creek (WCC) Antimony Deposit.
- The WCC deposit is Australia highest grade undeveloped Antimony deposit and ranks among the highest-grade antimony deposits globally1.
- Significant intersections recorded by historical owners of the project include (refer to Table 2 for full results):
- 10.7m at 14.24% Sb
- 18.7m at 4.5% Sb from including 5.2m at G.8% Sb
- 10.8m at G.28% Sb
- 51.2m at 1.7% Sb including 5.5m at 4.8% Sb
- 22.5m at 3.G% Sb
- 12m at 4.3% Sb
- 10m at 5.1% Sb
- The WCC deposit is the second-largest antimony deposit1 in New South Wales, after Hillgrove, with a resource of 610 kt at 2.56% Sb, containing 15,600 tonnes of antimony. This estimate is based on a high cut-off grade of 1%, reported in accordance with JORC 2012 standards.
- Numerous ultra-high-grade drill intersections grading up to 14.45% Sb have been confirmed beyond the existing JORC resource indicating significant resource upgrades.
- The deposit is enriched from surface and open down plunge hosted by an 6km long largely untested structure.
- Historical metallurgy showed ultra-high antimony recoveries of over 95% are achievable from the WCC deposit through a low-cost conventional milling and flotation technique.
- Trigg post completion will progress further exploration for resource expansion at the WCC deposit while simultaneously advancing it’s 100% owned Taylors Arm antimony project which contains Australia’s highest ever recorded antimony grade at 63% Sb.
- 100% non-cash transaction allows Trigg to preserve its healthy cash balance for value adding exploration.
The Achilles Project hosts the globally significant high grade and high tonnage Wild Cattle Creek antimony deposit, with a JORC 2012-compliant Mineral Resource Estimate (MRE) of 610,000 tonnes at 2.56% Sb, containing 15,600 tonnes of antimony (Indicated and Inferred categories). In addition to antimony, the deposit is enriched with tungsten and gold.
Discovered in the 1890s, the project has historically produced antimony ore during several periods of operation since then, with grades up to 46% Sb reported. Anchor Resources completed the most recent work on the project from 2005 to 2016 when it completed 23 drill holes, two resource estimation studies, orientation soil geochemistry, water and noise monitoring surveys, and sponsored university research into the genesis of the Wild Cattle Creek deposit.
Trigg Minerals Executive Chair Timothy Morrison said, "Acquiring the Achilles Project, including the Wild Cattle Creek antimony deposit, is a significant bolstering of our existing portfolio and provides Trigg Minerals with an advanced project with a JORC resource and plenty of exploration upside in and around the resource. Adding to our recent acquisitions of the Taylors Arms and Spartan antimony projects, we expect Achilles to be our flagship, given its advanced state. This acquisition positions Trigg as a globally significant player in the rush to secure Antinomy supply"
Figure 1: Achilles Antimony Project (EL 6388) - location and tenement with respect to NSW and other recent acquisitions (Taylors Arm and Spartan Antimony Projects) by Trigg.
PROJECT OVERVIEW
The Achilles exploration licence (EL 6388) is 40km west of Coffs Harbour, northeast New South Wales and ~11km north of Dorrigo. The Project contains the Wild Cattle Creek antimony deposit, Australia's second-largest antimony deposit after Hillgrove2 in New South Wales, with the potential for further significant expansion through ongoing exploration.
Geology
The Wild Cattle Creek deposit is in the Coffs Harbour Block of the New England Orogen, within a Late Carboniferous turbidite sequence dominated by siltstone (the Brooklana Beds). These sediments have undergone multiple deformations, regional metamorphism (up to biotite grade), and granitoid intrusions. The block is interpreted as an accretionary prism with subduction-related metamorphism dated at 318 ± 8 Ma. Mineralisation at Wild Cattle Creek is like the nearby Hillgrove antimony-gold deposit, located 80 km to the west-southwest and currently held by Larvotto Resources (ASX: LRV). Wild Cattle Creek is one of approximately 235 antimony occurrences in the New England region of New South Wales.
Click here for the full ASX Release
This article includes content from Trigg 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.
Woomera to Commence Drilling at Bronze Fox Copper / Gold Project in World-Class Mongolian Copper Belt
Woomera Mining Limited (ASX: WML) (“Woomera”, “the Company”) is pleased to announce that it has obtained all required administrative permits to commence a proposed two-pronged diamond core programme to both:
- confirm the potential of a higher-grade structural zone, in proximity of the historic hole F62, which returned 929m @ 0.37% CuEq1. This targeted zone was determined as the confluence of an IP anomaly and a structural fault zone, as potentially contributing factors for higher grade mineralization, which has the potential to increase volume and grade of the existing resource; and
- increase resource tonnage, by infill and extension drilling, and at the same time allow for the conversion of the existing EL to an ML.
Permits for the drilling were obtained from both the Manlai and Mandakh soums (Districts) located within the Southern Gobi copper / gold belt.
- Drilling programme of a minimum 2000m commencing in October aims to extend the high- grade zone in proximity of hole F62 at the confluence of an IP anomaly and structural corridor
- Drilling will also focus on shallow infill and extension drilling, to increase resource base and to convert the project EL to an ML
- Final Earn-In Agreement with Kincora Copper Limited has now been executed.
- Woomera is in the process of earning an 80% interest in the Project (in two phases) by spending US$4m (with an election to acquire 100%)
BRONZE FOX PROJECT
The Bronze Fox Project covers 175km2 and is located in the Southern Gobi porphyry belt of southern Mongolia, approximately 450km south of the capital Ulaanbaatar. It represents an opportunity to secure an 80% interest (with the ability to move to 100% at Woomera’s election) in an underexplored world-class porphyry copper project with genuine Tier-1 potential. Drilling by Kincora totalling approximately 46,625 metres of Reverse Circulation and Diamond Core drilling has defined three shallow, large porphyry complexes, providing genuine new discovery potential, resource delineation and early-stage exploration plays.
Key project components include:
- Bronze Fox Licences: located in the rapidly developing Southern Gobi copper belt.
- two adjacent licences covering 175km2
- 3 underexplored, large and near surface porphyry systems
- plus other early-stage copper and gold targets.
- JORC Compliant Resource and Exploration Target
- 194Mt at 0.26% copper equivalent (CuEq) at a 0.2% CuEq cutoff within a notional pit shell to a depth of approximately 325m below surface².
- additional Exploration Target for the West Kasulu prospect of between 100Mt and 300Mt at 0.25% to 0.35% CuEq². The Exploration Target comprises potential mineralisation below the current Mineral Resource from approximately 325m to 1,200m below surface.
- Existing mining licence with plans for second covering the full project.
- Team: Established in-country team of internationality experienced geologists with supporting infrastructure and Ulaanbaatar office.
- White Pearl Field Camp: Year-round facility supporting operational needs.
- Country Wide Database: Provides opportunities for new acquisitions in Mongolia.
The Mineral Resource and Exploration Target were first reported by Kincora Copper (ASX:KCC) under its ASX announcement dated 26th July 2022 entitled ‘Mineral resource and updated exploration target for Bronze Fox.’
Woomera Managing Director, Ralf Kriege, said:
“The commencement of the drill programme marks the start of an exciting transformative period for Woomera progressing the Bronze Fox Copper – Gold Project in one of the world’s most prospective copper belts. Drill rigs are to be mobilised this coming week and we look forward to reporting the results in the next months.”
The Bronze Fox Project is located proximal to several world class mineral deposits including Oyu Tolgoi, Kharmagtai, Tsagaan Suvarga and Tavan Tolgoi (see Figure 1).
Figure 1: Bronze Fox project with major resource projects in Southern Gobi 1
A priority target for the Company will be following up on hole F62 (see Figure 2) drilled by Kincora which intersected:
- 929m @ 0.37% CuEq (from 343m) including:
- 318m @ 0.53% CuEq (from 515m) and
- 37m @ 1.01% CuEq, from 573m.
(See Kincora Copper ASX Announcement: Mineral resource and updated exploration target for Bronze Fox, 26th July 2022).
Click here for the full ASX Release
This article includes content from Woomera 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.
Moho Resources Company Update
SUMMARY:
- Moho has completed a soil sample over the entire Weld Range project to determine the nature of the previously identified gravity and magnetic features that could represent a mafic – ultramafic intrusion prospective for copper-nickel sulphide and gold mineralization. Assays are expected in Q4 2024.
- Moho is evaluating the mineral potential at is Black Swan South project (E27/063).
- Moho is undertaking a comprehensive review of its existing projects and evaluating potential new acquisition opportunities which is expected to have the potential to enhance returns for shareholders.
Weld Range North Project (E20/1012)
The Company is pleased to advise that the full-scale tenement soils sample survey over the Weld Range North project has been completed with assays pending (Fig 1).
This work follows the orientation soil sample survey that was completed in 2023 (MOH ASX 23rd Aug 2023; Anomalous Soils Enhance Ni Prospectivity at Weld Range North), which identified elevated Ni assays over a coincidental Magnetic anomaly (Fig2) and a Gravity Bullseye anomaly (Fig 3).
The follow up 298 soil sample survey was completed to further delineate the extend of the mafic – ultra mafic geochemistry signature over the magnetic and gravity anomalies and the remainder of the tenement. This survey has also outlined the different soil types at the tenement.
Click here for the full ASX Release
This article includes content from Moho 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.