- There’s gold in them thar Christmas Gift hills, and ICL’s digging it up
- Larvotto Resources also makes the high-grade gold news today
- Meanwhile Trinex looks to be making a uranium move in Canada
Here are some of the biggest resources winners in early trade, Wednesday May 8.
Iceni Gold (ASX:ICL)
Perth-based junior exploration company Iceni is the clear ressie frontrunner at the time of tapping this one out for you.
Thanks to what it’s calling a ‘spectacular vein discovery’ at its Christmas Gift prospect, ICL has double-sacked a whopping 130%+ gain so far today.
Speccy it is, too. Get a load of these gleaming, veiny specimens…
This morning, Iceni provided an exploration update on recent work it conducted on the Christmas Gift prospect at its 14 Mile Well gold project located in the Laverton Greenstone Belt in the Yilgarn Craton of WA.
Additional fieldwork at the prospect in the Everleigh Well area of the wider project has exposed multiple gold-bearing quartz veinlets within a narrow, sheared basalt-interflow sediment contact.
The structure has now been exposed over an approximately 20m strike length that is open and has advanced the geological model to provide a priority drill target.
Previous high-grade rock chip assay results returned from the outcropping gold bearing veinlets included:
18,207g/t Au, 18,179g/t Au, 16,776g/t Au, 16,659g/t Au, and 14,780g/t Au.
Words don’t sate your gold lust? Here are some more pics…
Editor goes ‘uuurgh’.
The company also notes that gold collected by prospectors from a crushed bulk sample of ore bearing rock, including the quartz veinlets from the sample trench, has produced a 9.5oz gold doré bar.
Meanwhile, a multi-hole diamond drill program to evaluate the down dip position of the Christmas Gift shear is well advanced, with site prep completed and drilling to commence in the June quarter.
ICL MD Wade Johnson said: “The additional fieldwork has improved our knowledge of the host structure, that has advanced our understanding to further explore the Christmas Gift structure, but also provides a geological model that we can apply elsewhere in the Everleigh Well area.”
ICL share price
Larvotto Resources (ASX:LRV)
We can’t get enough of goldies right now, so here’s another gleaming on the bourse this morn.
Larvotto is up a very decent 30% today after announcing some high-grade gold results from its diamond drilling at Bakers Creek within the newly acquired Hillgrove gold and antimony mine, near Armidale in NSW.
The 2,036m diamond drilling program targeted the lower level of gold mineralisation at the Hillgrove Mine area and one hole revealed an impressive intercept of 31m at 65.8g/t Au from 244m, including 5.3m at 220g/t from 245m and 4.75m at 161g/t from 255.1m.
Other holes saw interceptions of 3.5m at 9.55g/t Au from 161m, with 0.5m at 49.6g/t Au from 162.6m; and 13.1m at 3.61g/t Au from 346m, including 4m at 8.11g/t Au from 349m.
The company noted that the results infill and extend to depth the current Bakers Creek mineralisation – none of which is included in the current Mineral Resource Estimate.
LRV MD Ron Heeks said, among other things, this about the high-grade finds:
“This work highlights the wealth of mineralised structures within the Hillgrove field. Bakers Creek has historically produced over 300,000 ounces of high-grade gold.
“From our interpretation of these mined areas, we concluded there should be further extension to the ore shoots.
“The standout result of 31m at 65.8g/t Au has clearly demonstrated that the mineralisation does extend to depth while maintaining excellent grades. We believe that other adjacent mineralised zones will also extend to depth in a similar way.”
LRV share price
Trinex Minerals (ASX:TX3)
Clean energy/critical metals explorer Trinex Minerals, formerly known as Todd River Resources, is also up more than 30% today.
It’s just inked itself a deal with ALX Resources Corporation (TSX-V: AL) to acquire up to a 75% interest in the Gibbons Creek uranium project in Northern Saskatchewan, Canada, in the famed, minerals-rich Athabasca Basin.
Trinex actually has an option to acquire an initial 51% interest with the potential to increase to 75%.
Trinex Minerals MD Will Dix commented that the uranium opportunity would greatly complement the company’s exisiting portfolio of lithium projects:
“The Athabasca Basin is a world class region and is highly prolific for uranium,” he said, adding:
“We have had some promising initial observations from our maiden drilling campaign, where preliminary results suggest the presence of high grade mineralisation in the target area identified from historic drilling.”
TX3 share price
Inca Minerals (ASX:ICG)
This Australian base metals explorer is on the hunt in Peru (hence its name), but also the NT and Queensland.
It’s up near 20% on news this week related to its activities at the Camel Creek and Kestrel prospects at its Jean Elson project in the central part of the Northern Territory.
Jean Elson is highly prospective for what the company describes as “Tier-1 sized Olympic Dam-style” iron ore copper-gold (IOCG) mineralisation.
Two exceptional IOCG targets had already been identified at the project with “compelling magnetic, gravity, and conductive features, Cu-Au-Ag-U-Fe mineralisation, and hydrothermal alteration”.
But this week the company is excited to find several more drill-ready targets with strong potential.
This comes after high level geological assessments and work including rock chip geochemical data compiling and 3D modelling of gravity and magnetics data.
The Camel Creek prospect is defined by outcropping mineralisation, mainly as malachite, notes Inca, while Kestrel is entirely under cover.
What next? Drilling. Which will kick off at Camel Creek, targeting the outcropping copper mineralisation at the Ningaloo and Sunset Boulevard targets in particular.