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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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SMS:AU
EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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