Public Company News

Godolphin Resources’ evaluation of its Lewis Ponds project has presented some intriguing possibilities for the company with an assessment of the previous drilling unearthing a number of outstanding drill intercepts including 91m at an impressive 2.30 g/t gold and 79 g/t silver from 427m, including a high-grade core of 10m at 8.82 g/t gold and 255 g/t silver.

Troy Resources’ Smarts Underground deposit in South America continues to produce outstanding results with the company confirming three ounce-to-the-tonne, or better, gold hits at its Karouni gold project in Guyana. The ongoing reserve definition drill program returned a first hole intersection of 1m going 57.60 g/t gold from 221m where it is already sitting on a one million-ounce resource estimate.

ASX-listed West Africa bauxite hopeful, Lindian Resources, has unveiled a 53-million-tonne increase in the resource estimate at the Lelouma bauxite project in Guinea to a monster 900 million tonnes going 45 per cent alumina as the company looks to demonstrate it could be sitting on one of the highest-quality undeveloped bauxite projects in the world.

ASX-listed Kingwest Resources has hit paydirt again at its flagship Menzies gold project about 130km north of Kalgoorlie as the company seeks to shore up confidence in the resource. The results, which include 4m at 11.04g/t gold from 47m, also hint that an upgrade to its current mineral resource estimate may soon be on the cards.

In one of WA’s hottest new gold plays, CZR Resources has made another high-grade discovery in a shallow drill hole at the Top Camp prospect at its Pilbara-based Croydon project, located 75km west-south-west of De Grey Mining’s stunning Hemi gold deposit. The latest drill hit returned a healthy 2m at 22 g/t gold from 7m, including 1m at 42.2 g/t gold.

ASX-listed gold producer, Horizon Minerals, continues to capitalise on a strong Australian-dollar gold price at its low-grade Boorara gold mine, 10km east of Kalgoorlie-Boulder, peeling off a rapid-fire $4.89 million in revenue. The bounty was secured courtesy of a second batch of contract trial mining and toll treatment of open-pit ore that culminated in the production of 1,845 ounces of gold that sold for an average $2,654 an ounce.

ASX-listed manganese developer Element 25 has picked up a handy $1 million from the $3 million sale of the Cummins Range rare earths deposit in WA’s East Kimberley region which the company says will be ploughed into its developing $15 million Butcherbird manganese mine in the Pilbara.

Aspiring gold producer in Indonesia, Sihayo Gold, has launched a 22-hole diamond drilling program totalling 5,500m at the exciting Hutabargot Julu prospect at its Sihayo gold project in North Sumatra. The ASX-listed, Brisbane-based company successfully flew in and set up the first drill rig in the mountainous terrain, with the second rig expected to be mobilised to site next week.

Paydirt Media is set to keep the ball rolling in Australia’s resurgent mining sector conference circuit, this week hosting the Australian Nickel Conference at Perth’s Pan Pacific Hotel. The conference kicks off at 8 am, Tuesday 6 October 2020, showcasing a who’s who of the nickel sector and their projects across Australia and the Asia-Pacific region.

Legend Mining’s ongoing drill campaign at Mawson continues to paint a picture of a mineralised system growing in both scale and grade with the latest drill hole intersecting over 26m of nickeliferous sulphide in RKDD027. The visually spectacular drill core includes 15.45m of massive sulphides, across three zones of mineralisation, and a further three zones of 10.80m of semi-massive and matrix sulphide - the hunt continues across the Mawson discovery in WA’s Fraser Range.

ASX-listed explorer, Impact Minerals, has defied the weather gods and kept the drill rods turning at its Broken Hill platinum group metals project in western NSW. Despite numerous interruptions to drilling work brought on by unseasonal heavy rain, the Perth-based company hopes to finish its current RC program by the end of the week, with assay results from the exciting Platinum Springs and Red Hill prospects to follow shortly.

Kairos Minerals is shifting through the gears as it accelerates its exploration program across the Pilbara. In the wake of a successful capital raising last week the company has doubled the size of its current drilling program over the emerging goldfield and is set to smash out 10,000m of reverse circulation drilling as it tests its highly prospective Tierra, Fuego and Mt York gold prospects