Gold: There’s a flood of really ridiculously good-looking bonanza hits out today
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With the eyes of the mining world at the Diggers & Dealers conference in Kalgoorlie, a swag of mining companies have released positive drilling results.
We’ve rounded up the best here.
A Frontier Resources review of historical trenching at its Saki prospect has brought up a trench sample of a whopping 535 grams per tonne gold — with the market responding in kind.
It told its shareholders in a pre-open announcement this morning that it had re-run samples of a phase two trenching campaign by previous operator Tolukuma Gold Mines.
The trenching had been done with a view to boosting production at the depleting Tolukuma Gold mine — with 1500 samples taken, 29 of which were anomalous for gold.
The re-run of the samples by Frontier found hits of:
A re-run of drilling also brought up results of:
While the new sample results are a positive for the company, it still needs to work out whether they can be folded into a JORC-compliant resource.
The Saki prospect runs 1400m by 700m wide — and investors are seemingly excited by the prospect of more to come.
Frontier’s share price was up over 15 per cent in early trade.
Bellevue Gold (ASX:BGL) thinks it has a new discovery on its hands underneath the existing Bellevue gold mine, hitting 3.6m @ 18.3g/t Au from 656m, 2.5m @ 5.1g/t Au from 753m, and 2m @ 4.3g/t Au from 669m.
These hits come from beneath the existing mine, firming up its hypothesis that the mineralisation there continues at depth.
Meanwhile, Venus Metals (ASX:VMS) has had good hits from a second-stage reverse circulation campaign at its Currans Find North prospect.
Hits included 3m @ 25g/t Au from 109m (including 1m @ 57.15g/t Au), and 8m @ 7.81g/t Au from 112m (including 4m @ 12.55g/t).
Vango Mining (ASX:VAN) has found a new high-grade gold zone at its Marymia Project — saying the hits represented a new discovery of a plunging gold zone which continued over a 1km strike length.
Hits there included 4m @ 23g/t Au from 109m, 3m @ 7.79g/t Au from 124m, 4m @ 9.48g/t Au from 177m, and 4m@ 6.38 g/t Au from 164m.
West African gold chaser Azumah Resources (ASX:AZM) has come back with a scoping study on deeper mining at its Bepkong deposit.
It found an underground mining operation could net the company $US32 million ($A47.1 million) in cash flow based on a gold price of $US1300 and production of 154,000 ounces of gold per year.
And finally, Golden Rim Resources (ASX:GMR) has come back with big hits at its gold project in Burkina Faso, including 1m @ 783.8g/t Au from 44m.
Other hits included 7m @121.g/t Au from 41m, 3m @ 7.2g/t Au from 56m, 4m @9.2g/t Au from 44m, and 15m @ 3.8g/t Au from 53m.