Public Company News

TNT Mines’ Bonanza prospect in the United States is turning out to be just that – a bonanza. It has delivered a smorgasbord of high-grade uranium and vanadium results from underground sampling including 1.25 metres at 2,600 ppm uranium oxide and 1.68 per cent vanadium pentoxide with a series of ‘too hot to handle’ samples yet to be reported by the new lab after being rejected by the first one.

As Hot Chili gets closer to delivering a maiden resource estimate for its Cortadera copper-gold project in Chile, new diamond drilling has continued to expand the exciting porphyry discovery. Wide assays from the first two drill holes in phase three of the drilling campaign confirm the high-grade core within the largest porphyry at Cortadera, known as Cuerpo 3, where the mineralisation continues 800m down-hole.

Blackstone Minerals has continued its seemingly unstoppable run of success in Vietnam with all four drill holes from the company’s maiden drilling program at Ban Chang intersecting high-grade massive nickel sulphides over more than 1,200 metres of strike. Infill drilling at the prospect is now being planned to delineate addition resources for the company’s developing resource inventory and Blackstone’s move into production.

Anglo Australian Resources has encountered deep extensions to the known mineralisation at its Mandilla gold project 20km south-east of Kambalda, with visible gold showing up in its latest diamond drill core. The company says this is indicative of a significant “nugget effect” within the gold mineralisation at the Mandilla East discovery.

ASX-listed gold hopeful, Kingwest Resources, has offloaded a couple of non-core assets that are not part of its flagship Menzies gold project, pocketing just over $2 million which it intends to sink into exploration and development drilling work at Menzies. Kingwest’s Menzies project involves a plethora of old gold projects littered across about 10km of strike.

Ora Banda Mining has banked more impressive RC drill hits from its Riverina South prospect as it eyes a maiden resource estimate for the deposit next month. The company is also looking to get into production at its nearby Davyhurst gold processing plant, 120km north-west of Kalgoorlie – based on initially mining several satellite deposits – in early 2021.

Classic Minerals is barrelling down the road to production at Kat Gap near Southern Cross in Western Australia, with its latest test-work showing exceptional recoveries of gold from simple processing techniques. Test work shows that gravity processing and conventional cyanide leaching recovers up to 96 per cent of the contained gold in the Kat Gap ores, paving the pathway to low cost production.

Impact Minerals looks to be tugging on the tail of a tiger with recent geochemical sampling at Apsley in NSW outlining a sizeable anomaly that flaunts all the hallmarks of a classic ‘text-book’ porphyry copper-gold deposit according to the company. Sampling at the company’s Apsley project has highlighted three priority targets for immediate testing with geophysical surveying expected to commence later this month.

Lindian Resources has further bolstered its senior management ranks with another bauxite expert after experienced Guinea Mining Engineer, Danny Keating, was appointed to the role of Chief Executive Officer. The appointment follows hot on the heels of the company also securing the services of 45-year bauxite and alumina veteran, Yves Occello, as a Non-Executive Director.

King River Resources is targeting high-grade gold in the Northern Territory as drilling kicks off at the Lone Star prospect at Tennant Creek. The company is targeting a series of coincident magnetic-gravity anomalies that it is interpreting as potentially the geophysical signature for the high-grade copper-gold rich ironstone ore bodies found in the Tennant Creek mineral field.

ASX-listed Troy Resources has produced a volley of high-grade gold hits from its latest diamond drill program at Karouni in Guyana, South America returning six separate intercepts with grades running as high as an ounce to the tonne. The results extend a stellar run for the Perth-based explorer with 3 of the 5 holes assayed to date returning multiple gold intersections.

Having made the successful transition from explorer to producer, Horizon Minerals has taken advantage of soaring gold prices to rack up a quickfire $2.93 million in revenue from the first 1,050 ounces of gold produced from its Boorara mining operations 10km east of Kalgoorlie.