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Investing Guides
Platina Starts Maiden Drilling Program At Xanadu Gold Project, Western Australia
August 28, 2022
Platina Resources Limited (ASX: PGM) has commenced a planned 3,000m reverse circulation (RC) drilling program over 11 holes at its Xanadu Gold Project in Western Australia.
The first phase of the program at Xanadu will target the core 4km of the 10km section of the Xanadu gold trend distinguished by historic gold occurrences drilled within the Duck Creek Dolomite, where it is affected by the Nanjilgardy fault zone and its splays.
Along this target area, the company will test several induced polarisation (IP) chargeable
anomalies, potentially representing sulphides with associated gold mineralisation, as well as shallower oxide mineralised zones – see Figure 1.
Platina Managing Director, Mr Corey Nolan, said the program was an exciting opportunity given the number and width of high-grade gold historical drill intercepts which have never been followed up with a systematic exploration campaign.
“Xanadu is located in a favourable regional scale structural setting, with the multi-million-ounce Mt Olympus gold deposit situated 7km to the east. Widespread gold mineralisation is identified within a large and intense hydrothermal alteration system which extends for over 10km in strike extent,” Mr Nolan said.
“The drilling program is expected to take 15 days to complete. The company has worked closely with the traditional landowners to secure the required site clearances.”
Platina controls a ground position of 562km2 with contiguous coverage along a 60km strike length of the Nanjilgardy fault and its splays and the Duck Creek Dolomite stratigraphy which is host to gold mineralisation within the project area.
Click here for the full ASX Release
This article includes content from Platina 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.
12h
Sams Creek and Reefton Exploration Update
Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Sams Creek and Reefton Projects.
Highlights
Sams Creek Gold Project
- Results received for the last two of four “scouting” holes drilled at the Anvil Zone.
- SCDDH107 intersected 22m @ 1g/t Au with higher grade intervals of 2m @ 2.91g/t from 141m and 1.2m @ 8.3g/t from 161m on the hanging wall and footwall respectively.
- SCDDH106 intersected a 35.4m thick dyke which was extensively altered. A 4m section in the centre of the dyke returned 4m @ 1.32g/t Au from 124m.
- An Ionic Leach (IL) soil survey identified a number of targets both around and inside two large circular structures.
- The circular structure anomalies have been divided into five dyke and six porphyry targets.
- The dyke targets have an Au-As signature, and the porphyry targets have an Au-Cu-REE signature.
- The IL survey has now been extended beyond the boundaries of the circular structures so potential mineralisation can be fully evaluated. Results are expected in August.
Reefton Gold Antimony Project
- Four additional diamond holes were drilled in the Auld Creek’s Bonanza East Shoot following the exceptional intersection in ACDDH011, which intersected an estimated true thickness of 3m @ 4.1g/t Au and 7% Sb.
- ACDDH015 and ACDDH016 were drilled 50m to the north and intersected true widths of 6m @ 5.3g/t Au, 14.9% Sb and 10m @ 7.2g/t Au, 0.3% Sb.
- ACDDH020 and ACDDH021 were drilled a further 100m to the north and intersected the footwall of the shoot, indicating that the Bonanza East Shoot plunges to the south parallel to the Fraternal Shoot.
- The Bonanza East maiden MRE and an update on the Fraternal MRE will be completed in August.
Siren Managing Director and CEO, Victor Rajasooriar commented:
“The drilling results from the recent scouting holes targeting the Anvil prospect have confirmed similar alternation to the Main Zone, which hosts the 824koz @ 2.8g/t Au Resource. Additionally, the knowledge base of the geology at Sams Creek is growing with the expanded Ionic Leach survey cross referenced with the Lidar topography analysis, with results expected in August. This should give us additional information to more accurately target the potential Gold-Copper porphyry targets and commence a diamond drilling program later this year at Sams Creek.
In addition, the drilling results from Auld Creek have returned some strong results and we look forward to updating the Resource in August.”
Click here for the full ASX Release
This article includes content from Siren 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.
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12h
Rogan Josh In-fill Completed Ahead of Mineral Resource Estimation
Remaining assay results from RC drilling at Rogan Josh received. Assay results for Kamperman RC drilling pending. Maiden Mineral Resource Estimates for Rogan Josh and Kamperman, and an updated MRE for Think Big, due in September Quarter.
Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to provide assay results from the remaining 16 holes (940 metres) of a 32-hole RC drilling program undertaken at the Rogan Josh Prospect, part of the Company’s 100%-owned Feysville Gold Project (Feysville), located 14km south of Kalgoorlie in Western Australia (Figure 1).
HIGHLIGHTS
- All outstanding assay results from the Rogan Josh in-fill program now received, with results reported for the final 16 holes for 940 metres.
- Best results from the Rogan Josh in-fill program include:
- 8 metres at 1.35g/t Au from 55 metres in FRC325;
- 8 metres at 1.28g/t Au from 43 metres in FRC287;
- 5 metres at 1.79g/t Au from 32 metres in FRC326;
- 3 metres at 1.89g/t Au from 57 metres in FRC286;
- 4 metres at 1.31g/t Au from 54 metres in FRC285;
- 4 metres at 1.57g/t Au from 48 metres in FRC330; and
- 12 metres at 0.72g/t Au from 13 metres in FRC329.
- Cube Consulting currently finalising maiden Mineral Resource Estimate (MRE) for Rogan Josh and a revised MRE for Think Big.
- A 26-hole (2,808 metre) RC drill program in-filling the Kamperman prospect has been completed, with assay results pending.
- Following receipt of the Kamperman assay results, a maiden Kamperman MRE will be prepared, with expected delivery of MRE’s for Rogan Josh, Think Big and Kamperman due in the September Quarter 2024.
Astral Resources’ Managing Director Marc Ducler said: “Recent exploration activity at Feysville demonstrated the potential of the Project to provide multiple gold deposits capable of producing satellite feed for the 2.5mtpa Mandilla process plant contemplated in the September 2023 Scoping Study 1.
“The recently completed drill programs will provide critical data into Mineral Resource Estimates for the Feysville Project, being Think Big, Rogan Josh and Kamperman. The previously reported Think Big MRE of 116,000 oz was unconstrained (not reported within an optimised pit shell), so it is expected a small decrease will be incurred when applying open pit constraints as is best practice. On the upside, we are very confident that inaugural contributions from Kamperman and Rogan Josh will see a material increase in the aggregate Mineral Resources at Feysville following the positive exploration results reported, primarily at Kamperman, over the last 18 months or so.
“The recent success of a reconnaissance drill program in identifying a potential Kamperman-style analogue, coupled with an extension to gold mineralisation associated with the regional-scale Ethereal Shear, indicates there is significant potential for further growth at Feysville.
“Preparation works are now underway for a 14,000 metre RC in-fill program at the Mandilla Gold Project’s cornerstone Theia deposit. This will support an MRE update for Mandilla ahead of detailed mine design for the Mandilla Pre-Feasibility Study.”
Click here for the full ASX Release
This article includes content from Astral 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.
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12h
Group Mineral Resources Statement
Following the successful completion of the merger between Horizon Minerals Limited (ASX: HRZ) and Greenstone Resources Limited (formerly ASX: GSR), additional resource model work and reviews, the Company is pleased to provide a consolidated statement of group Mineral Resources as of 30 June 2024.
HIGHLIGHTS
- Mineral Resources currently stand at:
- 1.8Moz gold 1
- 20.2Moz silver, 104kt zinc 2
- 283kt nickel, 40.5kt cobalt and 296.2kt manganese (50% owned) 2
- Mineral Resources are underpinned by the large cornerstone Boorara and Burbanks assets
- Updated Mineral Resource Estimates (MRE) include a maiden MRE for Pinner, an update for Monument and a revision for Boorara which is currently under an Ore Reserve Study (ORS) from AMC Consultants
- Changes to the gold MREs include:
- Addition of 297,650oz from Burbanks open pit 3
- Addition of 167,920oz from Burbanks underground 3
- Addition of 13,000oz from Pinner 4
- Addition of 3,000oz from Monument, and 4
- Reduction of 20,240oz from Boorara 5
- Large Mineral Resource base and ongoing studies pave the way for a development profile aiming at sustained gold production and continuous cashflows
Commenting on the Group MRE upgrade, Managing Director and CEO Mr Grant Haywood said:
“It is very pleasing to have the Burbanks and Phillips Find assets under single ownership with Horizon’s complementary and extensive project base. Together this provides 1.8 million ounce gold portfolio, which is a great platform to implement our near term strategy of cashflow from operations and further growth into the medium and long term”.
Click here for the full ASX Release
This article includes content from Horizon 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.
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15h
Quimbaya Gold Set for Drilling at New Segovia Property in Colombia
Quimbaya Gold (CSE:QIM,OTCQB:QIMGF)has begun exploration work and is now gearing up for a 3,000 meter drilling program at its newly acquired property in Segovia, Colombia, according to Alexandre Boivin, the company’s president and CEO.
The 2,000 hectare mining property, prospective for gold and silver, is near Aris Mining’s (TSX:ARIS,NYSEAMERICAN:ARMN) Segovia operations in Antioquia, Colombia. The region is well known for its high-grade gold veins, making the acquisition highly significant for Quimbaya’s growth trajectory.
“The goal in mining and exploration, like a company like Quimbaya, is basically to define resources and reserves. But even better than that, it's to define it close to a big producer because we can see already a proven project,” Boivin said.
Quimbaya has already begun advanced geochemical analysis, including soil sampling and MMI (mobile metal ion) technology. This is especially important in regions like Segovia, where the "more you go at depth, the more the high grade is," Boivin stated. This method aims to identify high-grade drill targets at depth, making the exploration process both efficient and effective.
The company has outlined a comprehensive drilling program featuring around 3,000 meters. "We're reviewing the targets and making sure we're getting some conversation or internal conversations to start drilling as soon as possible," Boivin noted.
Read the full interview with Alexandre Boivin above.
Disclaimer: This interview is sponsored by Quimbaya Gold (CSE:QIM,OTCQB:QIMGF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Quimbaya Gold in order to help investors learn more about the company. Quimbaya Goldis a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Quimbaya Gold and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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24 July
June 2024 Quarterly Cashflow Report
Impact Minerals Limited’s (ASX:IPT) has released its Quarterly Cash Flow Report.
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.
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24 July
June 2024 Quarterly Report
Impact Minerals Limited’s (ASX:IPT) is pleased to present its Quarterly Report.
HIGHLIGHTS
1. Lake Hope, WA (IPT 80%)
- Work continued on the Pre-Feasibility Study (PFS) which is on schedule for completion in Q4 2024.
- Key appointments made:
Indigenous Services Australia (ISA) appointed to establish a long-term relationship with the Ngadju group.
David English, who led the feasibility and mine development work on Sandfire Resources’ De Grussa and Sirius Resources’ Nova-Bollinger projects appointed to lead the Pre-Feasibility Study at Lake Hope. - Baseline environmental surveys indicate no Threatened or Priority species of flora and fauna occur on the Lake Hope salt pan.
- Scope 1 and Scope 2 CO2 emissions per tonne of HPA produced are targeted to be competitive globally, with a strategy for achieving zero carbon HPA defined.
- Metallurgical test work continued for both the Sulphate and Low- Temperature Leach processes.
- Initial discussions commenced with the Ngadju Aboriginal group to support a Mining Lease application.
- Drill results from neighbouring lakes received and being interpreted.
2. Arkun-Beau, WA (IPT 100%)
- Co-funding of up to $180,000 has been awarded under the WA Government’s EIS scheme to drill the Caligula copper target, identified through soil geochemistry and Mobile Magneto-Telluric (MMT) data.
- Infill and extensional soil geochemistry surveys have been completed to define potential drill targets, with assay results expected this Quarter.
- Drilling completed at the Hyperion Rare Earth Element (REE) Prospect.
- Metallurgical leach test-work received post-Quarter end with poor recoveries as expected.
3. Commonwealth Project (IPT 100%)
- Burrendong Minerals continues to progress towards an IPO in Q4 2024. Various submissions to ASX for approval to list are in progress.
4. Other Projects
- Broken Hill: data synthesis and interpretation in progress on all data collected during the BHP Xplor Programme. Some early-stage discussions are in progress with other groups with a view to a possible joint venture arrangement.
- Doonia: assays received and being interpreted.
- Southwest Regional: The early stage Dinninup, Martup Hills and Mineral Hill projects were relinquished due to an increasing focus on Lake Hope.
5. Corporate/Finance
- Strategic A$3 million placement mostly supported by major shareholders.
- In addition, $725,000 in funds were received from the exercise of listed options (IPTOB).
- A FY23 Research and Development Rebate of $395,000 was received during 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.
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