Doug Bright

Dateline Resources has wrapped a net present value of US$235m around its Colosseum gold project in California that is set to churn out 635,000 ounces over 8.3 years at an AISC per ounce of US$1490. That number compares favourably to today’s gold price US$2752 an ounce or AUD$4121 an ounce. Dateline will bank a total of US$1.344b in sales over the life of mine with about US$400m of that dropping to the bottom line.

In this edition of Bulls N’ Bears Big Hits, we examine some notable drill intercepts revealed on the ASX last week, including at Argent Minerals’ Kempfield Project in NSW with its 47m at 10.18g/t silver hit. We also take a look at other interesting drill hits from last week as reported by Nova Minerals from its RPM target in Alaska and West African Resources’ M1 South resource in Burkina Faso.

Surefire Resources has identified nine new drilling targets from reinterpreted IP geophysics data, structural interpretations and re-logging at its Yidby gold project in Western Australia’s Mid West region. The company says the work significantly complements its understanding of the mineral system and controls on gold mineralisation previously intersected by its drilling and points to potential depth extensions for the porphyry-hosted system.

South Perth-based mining giant IGO has passed the $350,000 exploration expenditure threshold required for it to grab a 51 per cent slice of Buxton Resources’ promising Copper Wolf project in Arizona. And IGO can now continue on to grab another 19 per cent interest in the joint venture project it shares with Buxton by spending a further $5 million.

Lycaon Resources has secured its final heritage and program of works approvals to clear the way for drilling at its multi-element Stansmore carbonatite project in Western Australia’s West Arunta region. The heritage clearance survey, which was completed in July, relates to the company’s three priority Stansmore, Volt and Ions targets where it is chasing niobium, rare earths and iron oxide copper-gold.

Buxton Resources has secured heritage clearance to drill up to 10 holes at its 80sq-km Centurion project in Western Australia’s West Arunta region in its search for major iron oxide-copper-gold (IOCG) targets. The principal target is defined by partly-coincident magnetic and gravity geophysical anomalies spanning a surface area measuring about 3500m by 5000m and reporting a 1500 nanoTesla magnetic response and 10.1 milligal gravity response.

Kalgoorlie Gold Mining has revealed thick new gold intercepts that extend mineralisation to 2km of strike at the Wessex prospect within its Pinjin project, 140km north-east of Kalgoorlie in Western Australia. Results from a recent aircore campaign include 4m going 2.06g/t gold with 3m at 2.69g/t and hits of 4m at 2.37g/t and 4m at 1.72g/t within longer primary intercepts.

In this week’s edition of Bulls N’ Bears Big Hits, we examine some notable drill intercepts revealed on the ASX, including Barton Gold’s 7m at 9.63g/t gold from 67m at its Tarcoola project in South Australia. We also take a look at other interesting drill hits reported from American Rare Earths’ Cowboy State Mine project in the US and Lunnon Metals’ Kambalda play in WA.

Buxton Resources drilling at its Narryer project in WA’s Murchison region has intercepted 20m at a grade of 9.06 per cent total graphitic carbon in a 60m thick zone, indicating a possible new graphite province. The discovery, accompanied by recently-acquired electromagnetic (EM) signatures, indicates the existence of near-surface graphite which may have unveiled a new graphite province within the company’s ground.