Essential assets for August 10
Blackham Resources Ltd announced it has commenced its maiden drill programme into the high grade Golden Age deposit. The underground rig arrived at Matilda yesterday. Stage 1 of a 3,500m diamond drilling programme into Golden Age has now commenced with a view to both increasing the size and confidence in the high grade resource. Golden Age is a high-grade free-milling quartz reef that produced 160,000oz @ 9g/t Au; the remaining resource of 0.6Mt @ 6.7g/t for 125,000oz Au which is a priority source of high grade mill feed for recommissioning the Wiluna Gold Plant.
Segue Resources Limited announced that the next phase of drilling at the Company’s Plumridge Nickel Project in the Fraser Range Province, Western Australia (Figure 1) has been approved and is due to commence this week. As previously announced, Segue has identified fifteen (15) exploration targets within two district-scale clusters in the northern and central parts of the Project area. All targets lie within the Transform Graben Zone (TGZ) identified from the recently completed gravity survey and are consistent with the Company’s geological and mineral emplacement models.
As part of its ongoing capital management, Aspen has secured an extended debt facility with its primary financier. The debt limit has increased to $60 million (previously $40 million), with the maturity date extended to September 2017 (previously August 2016). Other terms of the facility are an improvement from the current facility. The new debt facility will facilitate Aspen Group’s previously announced acquisition programme in the accommodation sector.
Rumble Resources Ltd announced that the Company has expanded its footprint in the highly sought after Fraser Range Province. The new 100% Rumble owned project and exploration licenses expand Rumbles Fraser Range Foot Print to 3590sq km's. The Thunderdome Project was a strategic low cost acquisition which will enable the Company to utilise its cash for high impact exploration. Importantly Rumble Owns a 100% interest in 16 out of the 17 Fraser Range tenements.
Latin Resources Limited annnounced continued successful growth of its service division “PLR Services," the registered brand of Latin’s 100% owned Peruvian subsidiary, Peruvian Latin Resources S.A.C. PLR Services was launched in late 2013 to take advantage of the Company’s successful experience in permitting, social management and other activities to provide similar services to other companies as a means of generating additional income during the prevailing challenging market conditions. Clients include the local subsidiaries of large multi-national operators such as Vale Exploration Peru S.A.C. and also Latin’s project partners such as Compañia Minera Zahena S.A.C. as well as other major metal producing companies. Junior explorers relatively new to the Peruvian operating environment have also appreciated Latin’s extensive in-house experience in Peru coupled with a direct understanding of the permitting demands faced by mineral explorers.
Mineralisation within Potash West NL’s Dinner Hill Phosphate and Potash Deposit, located in the Midwest wheat belt of Western Australia, some 225km by road north of Perth, has been shown by past and recent drilling to extend over some 70km2 to the south and east of the recently re-estimated phosphate and potash Mineral Resources (ASX release 03 June 2015). This updated Exploration Target estimate reflects changes to the original Exploration Target (ASX release 07 May 2013) as a result of the additional drilling and the updated Mineral Resource estimate (ASX release 03 June 2015). Both the Exploration Target and the JORC compliant resources have increased.
Kingston Resources Limited announced it appointed Mr Barry Bourne as a Non-Executive Director, effective July 21, 2015. Mr Bourne’s extensive mineral exploration and management experience will greatly assist Kingston’s current and future exploration programs. Mr Bourne BSc (Hons) Geology FAIG MAICD was previously Chief Geophysicist for Barrick Gold’s Global Exploration Group until 2013 and is now a mineral exploration consultant to private and public international exploration groups through Terra Resources Pty Ltd. Mr Bourne has played a key role in Kingston’s exploration program in South Australia, including the winning of the Mineral System Drilling Program funding for Six Mile Hill.
Rox Resources Limited reported that a Pre-Feasibility Study has commenced on the Fisher East Nickel Sulphide project located 500km north of Kalgoorlie, WA. The Pre-Feasibility Study follows the Scoping Study completed earlier in the year which showed the project to be technical low-risk and financially robust using the various assumptions current at the time.
Cardinal Resources Limited announced that drilling has been completed a further 200m north along strike within the recently acquired area of the Namdini Mining Licence, located within Cardinal’s Namdini Project in Ghana.
Australian oil and gas company Titan Energy Ltd announced drilling success in the first test well on the Hudson lease on the Markham salt dome in Matagorda County, Texas. Titan holds a 100% working interest in this well. The Hudson #55 was drilled to 3,750 feet and ultimately sidetracked with directional drilling equipment from a kickoff point at 2,700 feet to move the bottom hole 120 feet down dip. The sidetrack hole reached a Total Depth (TD) of 3,715 feet and has been logged and cored.