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Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to advise that it has completed an updated MRE reported in accordance with the JORC 2012 Code at the Tumblegum South gold project.
HIGHLIGHTS
- Updated JORC 2012 Tumblegum South Mineral Resource delivers total Indicated and Inferred Mineral Resource of 616,000 tonnes @ 2.28 g/t Au for 45,000 Oz gold.
- Includes Indicated Mineral Resource of 337,000 tonnes @ 2.52 g/t Au for 27,000 Oz gold.
- Tumblegum South Mineral Resource is on granted mining lease M51/888
- Conversion of 60% of the Mineral Resource to Indicated category (up from 0% in Maiden Mineral Resource estimate1) reflects significant increase of confidence in the geological model.
- Contained ounces represents a 5.8% increase on previous Mineral Resource estimate1 (MRE).
- Star Minerals progressing toll treatment options of the Tumblegum Mineral Resource.
The new MRE represents a total increase in contained ounces of 5.8% along with conversion of 60% of the Mineral Resource to Indicated category. The MRE consists of:
- Total – 616,000 tonnes @ 2.28 g/t Au for 45,000 Oz Au
- Indicated – 337,000 tonnes @ 2.52 g/t Au for 27,000 Oz Au
- Inferred – 279,000 tonnes @ 1.99 g/t Au for 18,000 Oz Au
This shallow, high-grade Indicated category portion of the resource has tremendous upside to be investigated in ongoing feasibility studies.
Tumblegum South is located in the Polelle Group mafics, about 40km south of Meekatharra at the historic Gabanintha mining locale in Western Australia (Figure 1). The revised estimate has followed additional drill campaigns of reverse circulation drilling during 2021 and 2022, and diamond core drilling during 2022.
The additional data has strengthened the geological model and therefore confidence in the Mineral Resource estimation, resulting in an upgrade of 60% of the existing Mineral Resource to Indicated category.
Star Minerals’ CEO, Greg Almond comments:
“Star Minerals has progressed the Tumblegum South Project towards a high degree of confidence in the value of the deposit with this Mineral Resource update. Successful drilling programs through 2021 and 2022 have highlighted the high-grade nature of the deposit, with gold grades of a calibre that are very appealing for shallow, cost-effective open pit mining.”
Figure 1: Location of the Tumblegum South Project
Star Minerals has progressed the Tumblegum South gold project at a time when the gold price is strong. Additional work at the neighbouring Star of the East deposit (which the Company has an option to purchase) provides an additional complimentary project in the Gabanintha area, with the potential to provide further ounces to any future mining endeavour.
The deposit at Tumblegum South is modelled as three north-south oriented gold-bearing shears and multiple shear and crackle breccia domains in a transpressive east-west shear system. Importantly, the gold mineralisation is from surface, with the majority of the Indicated Mineral Resource portion in the top 100 metres.
Mineral Resource Statement
The Mineral Resource Statement for the Tumblegum South Mineral Resource estimate was prepared during May 2023 and is reported according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) 2012 edition.
A total of 10,832.9 m of drilling from 99 drill holes was available for the Mineral Resource estimate. Mineralisation interpretations and the Mineral Resource Estimate were informed by combined 8566.9m of RC and diamond drilling from 75 drillholes that intersect the Mineral Resource. Drill intercepts, comprised of RC and diamond core is 588.8 m of drilling intersecting the resource. At the time of interpretation, one diamond drill hole was complete but not assayed (TDH006), being drilled for metallurgy and comminution sample.
Of the drill metres underpinning the Mineral Resource, 53% were completed by Star Minerals Ltd (SMS) in 2021 and 2022 and 40% by Bryah Resources Ltd (BYH) from 2017 to 2020. Historical drilling includes seven holes (five of which intersect the resource; 7% of drill metres) completed in 2013 by Australian Vanadium Ltd (AVL; formerly Yellow Rock Resources). The depth from surface to the current vertical limit of the Mineral Resources is approximately 175 m (305 mRL).
In the opinion of Entech, the resource evaluation reported herein is a reasonable representation of the global gold Mineral Resources within the Tumblegum South deposit, based on sampling data from RC and diamond drilling available as of 3 March 2023. Mineral Resources are reported below topography, excluding mining voids and comprise transitional and fresh rock. The Mineral Resource Statement is presented in Table 1.
This Mineral Resource estimate includes Inferred Mineral Resources, which are unable to have economic considerations applied to them, and there is no certainty that further sampling will enable them to be converted to Measured or Indicated Mineral Resources.
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This article includes content from Star 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.
SMS:AU
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox 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.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen 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.
