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![Mako Gold](https://investingnews.com/media-library/mako-gold.png?id=27279239&width=1200&height=801)
Second Drill Rig Commences At Napié
Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) is pleased to advise that the second drill rig has commenced drilling on the Tchaga Prospect while the other rig continues to drill on the Gogbala Prospect at the Company’s flagship Napié Project in Côte d’Ivoire. Tchaga and Gogbala are located on a +23km soil geochemical anomaly and coincident 30km-long Napié Fault (Figure 1).
HIGHLIGHTS
- Second drill dedicated to diamond drilling (DD) deeper targets at TchagaProspect
- First drill continues reverse circulation (RC) drilling on GogbalaProspect
- Multiple drill rigs to accelerate exploration towards a maiden JORC Mineral Resource Estimate (MRE) planned forH1-CY22
- Assays results from ongoing RC and DD from Chagaand Gogbala expected prior to Christmas with additional results expected in January 2022
Mako’s Managing Director, Peter Ledwidge commented:
“WeareverypleasedtobeacceleratingthedrillprogramsontheTchagaandGogbalaprospectsattheNapié Project as we move towards our maiden Mineral Resource Estimate scheduled for the first half of calendar year2022.Havingtworigsonthegroundwillalsoallowustotestregionaltargetswiththeaimofdiscovering newzonesalongthe30kmNapiéfaultforfutureadditionalresourcedefinition.Weanticipatesomedrillresults prior to Christmas with more to come in the newyear.”
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This article includes content from [Company Name], 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.
Further High-Grade Gold Results Received from Cork Tree Well Geotechnical Drilling
Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce the second round of non- priority assay results from sixteen Geotechnical diamond drillholes at Cork Tree Well (CTW) within the Laverton Gold Project (LGP). These sixteen holes were part of a broader 20-hole diamond drilling program2 designed for metallurgical and geotechnical purposes.
HIGHLIGHTS
- Assays received from eight geotechnical diamond holes completed at Cork Tree Well with gold assays up to 40.15g/t Au, located near CTWMET003 which returned 27.6m at 17.77g/t Au from 51m1
- Intercepts returned include 4.0m @ 17.32g/t Au from 78.0m (CTWGT004), including:
- 1.0m at 40.15 g/t Au from 78.0m, and
- 0.59m at 37.4 g/t Au from 81.0m, and
- 0.41m at 11.62 g/t Au from 81.59m
- Additional lode within CTWGT004 returned 3.0m at 3.46 g/t Au from 68m including 1.0m at 8.48 g/t Au from 70m
- Shallow intercept returned from CTWGT003:
- 2.6m at 1.74g/t Au from 33.0m
- High-grade results at the base of current pit shell design provides confidence for continuous mineralisation extensions at depth with historically defined significant intercepts
- CTWGT003 and CTWGT004 were drilled into the unmined material north of the historically mined northern pit at Cork Tree Well, with the gold mineralisation entirely contained within a sheared mafic/ultramafic sequence
Brightstar’s Managing Director, Alex Rovira, commented “It is pleasing to see further high-grade assays continuing from geotechnical holes from the diamond drilling program that was completed at Cork Tree Well earlier this year. CTWGT004 returned a significant high-grade intersection of 4.0m @ 17.32g/t Au from 78.0m, which complements the previously announced1 intersection of 27.6m @ 17.77g/t Au (CTWMET003) drilled 200m to the north.
The sixteen Geotechnical drillholes (CTWGT001 – CTWGT016) were drilled into the current optimized $2,750/oz pit- shells generated in the 2023 Scoping Study3 with these holes designed by Brightstar’s independent geotechnical consultants targeting structural and rock mass data for the definitive feasibility study. Both CTWGT003 and CTWGT004 were drilled perpendicular to the orebody and thus reported intersections represent estimated true widths of significant mineralised intercepts.
Given the quality of the assays received from the drilling to date, Brightstar is excited to build on the existing 303koz @ 1.4g/t Au Mineral Resource4, which is open both at depth with high-grade plunging shoots and along strike targeting the structurally-controlled mineralised trends. The high-grade results returned to date are significantly higher than the current 1.4g/t Au head grade of the Mineral Resource (and 1.85g/t mine grade from the 2023 Scoping Study), representing significant upside to both metrics.”
Table 1 - Significant Intercepts (>1g/t Au) for Cork Tree Well geotechnical diamond drilling
Figure 1 - Q1/24 Diamond Drill Program – Section A-A’ displayed in Figure 3
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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.
Warriedar Resources Investor Update
This presentation prepared by Warriedar Resources Limited (“Warriedar” or “the Company”), include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Resource Growth at Ricciardo
- Drilling to expand the Ricciardo deposit (currently 476koz), focused on high-grade mineable ounces ….diamond drilling now
- Drilling to expand deposits along the 25km ‘Golden Corridor’ (haul road connected, all on ML’s, currently 736koz), eg Windinne Well & M1Discovery of High-Grade Greenfield Ounces
- Drill testing of greenfield targets / deposits along the main shear (70km strike, underexplored with shallow irregular drilling)
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This article includes content from Warriedar 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.
A$2M Cash From Non-Core Asset Sale
Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) advises that it has signed a binding agreement for the sale of its residual Golden Range camp assets to Fenix Resources Limited (ASX:FEX) for cash consideration of A$2 million.
There are no significant conditions precedent to completion of the transaction, which is due to take place on 5 August 2024.
Under the sale agreement, Warriedar retains the first right of refusal to repurchase the camp should Fenix seek to sell the camp assets to a third party upon the completion of iron ore production from Fenix’s proximate Shine Iron Ore Mine.
The agreement provides for Fenix to make rooms and messing in the camp available for Warriedar. Warriedar is also able to construct alternate camp accommodation should mining commence at Warriedar’s Golden Range Project while Fenix continues its iron ore mining activities at Shine.
Cash proceeds from the sale are set to contribute towards ongoing exploration drilling of Warriedar’s highly prospective 25km-long ‘Golden Corridor’.
Warriedar Managing Director and CEO, Dr Amanda Buckingham, commented:
“The Golden Range camp is a fully established mining camp designed to support operational mining activity. Mining camps are costly to maintain and require regular maintenance and full-time staffing. This sale unlocks capital for Warriedar while also maintaining the operational support we require for our regional explorational activities. The transaction provides us with significant additional cash for value-adding exploration via the sale of a highly underutilised asset. It also avoids unnecessary duplicative camp construction, while providing an option for Warriedar to resume ownership of the facilities when we are in a position to fully utilise them. It really is a winning outcome for all parties.”
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This article includes content from Warriedar 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.
High-Grade Focus Delivers 2.48MOZ @ 4.79g/T – 47% Increase in Ounces and 91% in Grade
Aggressive drilling at the flagship Never Never Deposit and the new Pepper discovery outlines 1.87Moz @ 8.65g/t within 2km of the plant
Spartan Resources Limited (“Spartan” or the “Company”) (ASX: Spartan) is pleased to announce the Updated Mineral Resource Estimate (“MRE”) for its 100%-owned Dalgaranga Gold Project “DGP”, located in the Murchison region of Western Australia.
- Updated Mineral Resource Estimate (“MRE”) completed for the Dalgaranga Gold Project, located on granted Mining Leases and within 2km of the 2.5Mtpa processing plant:
- 16.1Mt @ 4.79g/t gold for 2,482,200 ounces, comprising:
- 5.72Mt @ 8.07g/t gold for 1,485,200 ounces – Never Never Gold Deposit
- 1.78Mt @ 7.66g/t gold for 438,100 ounces – Pepper Gold Deposit
- 8.63Mt @ 2.01g/t gold for 558,900 ounces – “Other” Underground MRE
- 16.1Mt @ 4.79g/t gold for 2,482,200 ounces, comprising:
- Resource Classification breakdown for the updated Dalgaranga Gold Project MRE:
- 8.70Mt @ 4.98g/t gold for 1,392,800 ounces (56%) classified as Indicated;
- 7.44Mt @ 4.56g/t gold for 1,089,400 ounces (44%) classified as Inferred.
- Resource Classification breakdown for the Underground Never Never Gold Deposit MRE:
- 3.88Mt @ 8.74g/t gold for 1,091,200 ounces (76%) classified as Indicated;
- 1.08Mt @ 9.95g/t gold for 346,200 ounces (24%) classified as Inferred.
- Maiden Mineral Resource Estimate for the Underground Pepper Gold Deposit:
- 1.78Mt @ 7.66g/t gold for 438,100 ounces (100%) classified as Inferred.
- Combined high-grade underground MRE for the Never Never and Pepper Gold Deposits:
- 6.75Mt @ 8.65g/t gold for 1,875,600 ounces (58%) classified as Indicated.
- The ounces per vertical metre (“ozpvm”) for the updated high-grade underground MRE has increased 24% to 2,284ozpvm, from 1,690ozpvm. Between 450mbsl and 650mbsl, through both Never Never and Pepper, the ozpvm averages 3,796ozpm.
- A focus on delineating higher grade underground Mineral Resources for the Four Pillars and West Winds gold prospects, as well as the nearby Sly Fox and Plymouth gold deposits has underpinned the “Other” Underground MRE of:
- 8.63Mt @ 2.01g/t gold for 558,900 ounces:
- Updated Spartan Group Mineral Resources for the Dalgaranga and Yalgoo (“Murchison”) and Glenburgh and Egerton (“Gascoyne”) Projects now stand at:
- 39.15Mt @ 2.62g/t gold for 3,302,000 ounces (61% or 2.01Moz Indicated)
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This article includes content from Spartan 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.
Kula Gold Launches Drill Program at Past-producing Mount Palmer Gold Mine
Kula Gold (ASX:KGD) announced the start of a reverse-circulation drill program at its recently acquired Mount Palmer gold mine asset in the Southern Cross Goldfields last Wednesday (July 17).
“The historic Mt Palmer Gold Mine (formerly known as the Yellowdine Mine) was last commercially mined in 1944 down to the 6th Level (160 meters) at 15.9 grams per tonne,” the company shared in a press release.
The site historically produced approximately 158,000 ounces of gold at 15.9 grams per tonne prior to its closure in 1944. The onset of the Second World War and subsequent mine flooding left the site closed.
Since then, only limited exploration targeting open-pit opportunities has been completed.
Managing Director Ric Dawson said that 200 work hours of analysis were performed by Kula's technical team. He also shared that the mine shows “solid targets for high-grade gold mineralization” extending down plunge.
“This acquisition aligns with the company’s strategy to explore near to existing operations to fast track any discovery to monetary success,” Dawson added. The Mount Palmer site is located 15 kilometres away from the Marvel Loch gold-processing plant and infrastructure, and 90 kilometres from the Edna May gold plant.
Kula holds a 51 percent stake in Mount Palmer, with exploration company Aurumin (ASX:AUN) owning the remaining 49 percent. Kula will be able to earn up to an 80 percent take by spending AU$1 million over three years.
Aurumin completed the sale to Kula on July 11, with Aurumin Managing Director Brad Valiukas saying that it would be the last of the company’s planned divestments in the Southern Cross area.
“We are pleased to see Kula now positioned with 51 percent of the Mt Palmer Project and we look forward to them increasing their stake to 80 percent,” he said in a press release at the time.
Kula believes that the mine lease and surrounding areas “have excellent exploration potential for the discovery of additional deposits, given limited systematic exploration to date.” The company's other current gold prospects in the area are the Marvel Loch project, the Stingray prospect, the Nevoria North prospect and the G-Star prospect.
Prospects along the 10 kilometre greenstone belt that hosts Mount Palmer are also being assessed.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Aurum Resources: Game-changing Gold Exploration at Prolific Côte d’Ivoire, West Africa
Aurum Resources (ASX:AUE) offers a compelling value proposition by primarily focusing on gold through its flagship Boundiali gold project located in Côte d’Ivoire, West Africa. Côte d'Ivoire's gold mining sector is experiencing significant growth and development as its political, legal, tax and operational risk metricsout performs most developing countries in the world.
The Boundiali gold project in Cote d’Ivoire is located within the Boundiali Greenstone Belt, which hosts Resolute’s Syama gold operation (11.5 Moz) and the Tabakoroni deposit (1 Moz) in Mali. Neighbouring assets also include Barrick’s Tongon mine (5 Moz) and Montage Gold’s Kone project (4.5 Moz).
The Boundiali gold project comprises four contiguous granted licenses: PR0808 (80 percent interest), PR0893 (80 to 88 percent interest), PR414 (100 percent interest), and PR283 (70 percent interest).
Company Highlights
- Aurum Resources is a precious metals company with exploration prospects in the same greenstone belt as the Syama (11.5 Moz), Sissingué (1.0 Moz), Tongon (5.0 Moz) and Kone Gold (4.5 Moz) deposits of West Africa.
- Upcoming catalysts include a maiden mineral resource estimate expected to be completed by the end of 2024. The company believes mineralization is open at depth and along strike and highlights the existence of numerous gold mineralization targets within the large land holding of Aurum’s Boundiali Gold Project.
- Aurum operates its own drill rigs, allowing the company to significantly reduce its exploration costs relative to peers.
- Management has a track record of creating value for shareholders from exploration through to project development, mine construction and gold production.
- Strong leverage to increasing gold prices that will benefit from a declining interest rate environment and rising global geopolitical risk factors.
- Well funded for greater than 12 months and over 100,000 metres diamond drilling programs and metallurgical study
This Aurum Resources profile is part of a paid investor education campaign.*
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