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Soil sampling underway ahead of drilling of GTR’s WA gold project

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Soil sampling underway ahead of drilling of GTR’s WA gold project

GTi Resources’ (ASX:GTR) Western Australian gold project is gaining traction in a market where talk of gold remains bullish, despite its recent fluctuations.

GTR’s 100% owned Niagara Gold Project is located near Kookynie in the Eastern Goldfields of WA.

It is here where Genesis Minerals Ltd (ASX: GMD) recently acquired its own Kookynie ground, incorporating the Greater Ulysses Project, a 248km2 tenement package that includes 15km of strike length, a JORC Indicated and Inferred Resource of 414,000oz and 1.28Moz.

Furthermore, GTR’s neighbour Metalicity Ltd (ASX: MCT) recently conducted a highly successful drilling campaign, which saw its share price gain almost 250% after the company hit “spectacular” high grade results from first assays in its joint venture (JV) with Nex Metals Exploration Ltd (ASX: NME).

GTR’s WA ground is only circa 2km north of Metalicity’s’s project.

MCT is capped at $40.5 million, while GMD is capped at $120.9. GTR is currently capped at $17.5 million and is about to undertake a maiden drilling program on untested targets at Kookynie.

If GTR identifies high grade gold in its upcoming drilling program, it could see a significant rise in value based on the past movements of companies in the region.

Last week, GTR confirmed a first phase 50 hole aircore drilling programme for September, which will lead into a second phase RC drilling programme for October. GTR is permitted to conduct 10,000m of drilling at its Niagara Project.

Today, the news was just as strong for the company, which advised the market that it had commenced a significantly expanded 1,000- hole soil sampling program, via auger drilling at Niagara.

This program is the next step in GTR’s rapid evaluation of the potential for economic gold mineralisation across the newly consolidated and historically under-explored Niagara Trend in WA’s highly prospective eastern goldfields.

The geochemical results from this soil sampling program will be integrated into the existing litho-geochemical, geophysical and geological data sets to guide targeting of the circa 50‐hole first phase Aircore drilling campaign planned for September.

A second phase of drilling will commence in October, utilising targeted deeper RC drilling, to test the most attractive zones of interpreted gold mineralisation.

“It’s great to get the next stage of our field program underway with an expanded soil sampling and ground reconnaissance campaign,” GTI Executive Director Bruce Lane said.

“The 1,000‐hole soil sampling campaign infills and extends the previous soil sampling program based on the previous multi‐element lithogeochemical interpretation combined with the recent Aeromagnetic survey.

“We will follow up the current work with first phase drilling of about 50 Aircore holes during September. The current field work combined with September’s planned Aircore drilling will further refine our understanding of the lithogeochemical and mineralising systems at Niagara and will help us locate the most prospective zones for October’s second phase deeper RC drilling campaign.

“We are very encouraged to see the correlations between the previous soil geochemistry results and the aeromagnetic signatures and we look forward to refining our lithogeochemical interpretation and drill targeting throughout the coming weeks.

“It’s also encouraging to see our neighbours in the area investing in significant exploration activities as excitement builds in this highly prospective yet historically underexplored part of WA’s goldfields.”

The ability to accelerate production would be highly beneficial for GTR given the current Australian dollar gold price.

Gold continues to hover in the vicinity of US$2000 per ounce and with the Australian dollar fetching about US$0.72, the implied gold price for a project such as Niagara is approximately US$2700 per ounce.

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Q&A With StockPal – VRX Silica (ASX:VRX)

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Q&A with StockPal - Bruce Maluish, Managing Director of VRX Silica (ASX:VRX)

 

Watch Bruce Maluish, Managing Director of VRX Silica (ASX:VRX) and Jared Sim, Editor-in-Chief and Co-Founder of StockPal in this engaging Q&A with the following questions:

0:11 – What is your business about and why did VRX pivot to silica sand in 2017?

1:04 – How did your company cope with the COVID-19 pandemic and could you elaborate on the advancements made in the September Quarter?

2:12 – What projects are you currently working on and how do you see the silica sand market outlook to be steering VRX Silica’s business in the near future?

3:40 – What is your target timeline for commercialisation and where does its Boyatup Silica Sand Project currently stand?

4:42 – What is your firm’s competitive advantage in the silica sand market over other names in the space?

6:14 – Do you think a silica sand sector is developing in Australia and could you please shed some light on the company’s financial footing?

7:42 – How are you currently engaging with your investors and could you touch upon the company’s future plans?

Visit VRX’s website to learn more about their story: https://vrxsilica.com.au/

Email editor@stockpal.asia if you are or represent a listed-company and is keen to be in our interviews.

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

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Red Mountain to start gold drilling as it looks to acquire rare earths project

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Red Mountain to start gold drilling as it looks to acquire rare earths project

After completing the required heritage clearance survey, and securing a reverse circulation (RC) drill rig for its maiden drill programme at its Mt Maitland high-grade gold project in Western Australia, Red Mountain Mining Limited (ASX: RMX) is set to start drilling.

The drilling program is planned for 18 holes for approximately 1300 metres and is scheduled to commence in the first week of November.

Historical mining delivered an average production grade of 19 g/t gold and the company expects there could be early stage share price catalysts on the horizon should the program go well.

RMX’s project is in close proximity to the $1.1 billion Westgold Resources Fortunum Gold Mine and its Bluebird Gold Mine to the south. It is also near the $800.3M capped Sandfire’s Monty Gold Mine and its Degrussa Copper Gold Mine.

RMX acquired the Mt Maitland project, which lies within the prolific Murchison Goldfields in July this year and is encouraged by a significant gold nugget found while prospecting within the Mt Maitland tenure.

The nugget points to the potential high-grade nature of the mineralisation at the Mt Maitland Project.

The Mt Maitland Project came with multiple drill-ready targets and historic production which averaged 19g/t Au.

Outstanding results from historic exploration at Mt Maitland include:

  • gold-in-soils: peak 2,724 ppb, anomalies over 13 kilometres of strike
  • rock chips: up to 62g/t Au, 8.8% Cu and 290g/t Ag channel sampling: 2.50m @ 22.7 g/t Au and 0.75m @ 61.8 g/t Au
  • Drill results include 13m @ 2.53 g/t from 9m, 2m @ 1.53 g/t from 13m

During the heritage survey, additional geological mapping was conducted which has assisted RMX to vector this maiden drill program.

Rare earth pick up

RMX is also in the throes of acquiring a new rare earths/nickel-cobalt project.

The company reached agreement with ARD Group (ARD), the vendors of the Mt Mansbridge heavy rare earths project, to favourably restructure the transaction that was voted down by shareholders in March 2020.

The Mt Mansbridge Project consists of three West Australian tenements containing targets prospective for HREE and nickel-cobalt.

Located in the Kimberly region of Western Australia, the project area is approximately 130 kilometres south-east of the township of Halls Creek and consists of three contiguous granted exploration licenses E80/5111, E80/5229 and E80/5413 which combined cover a total area of 280 square kilometres.

As indicated below, the tenements lie approximately 40 kilometres from Northern Minerals’ (ASX:NTU) flagship Browns Range project.

Shares in Northern Minerals have doubled in the last four months.

The project area has been subject to exploration activities since the 1970s, primarily for uranium, gold and diamonds which were all unsuccessful.

The presence of the REE mineral xenotime in the Killi Killi Prospect has been overlooked and RMX now see the opportunity to capitalise on this and determine whether there is an economically viable concentration of REEs.

As part of funding the exploration program at Mt Mansbridge, Red Mountain has received firm commitments to raise $360,000 (before costs) via a share placement to professional and sophisticated investors.

The Placement will be undertaken at 1.2 cents per share and is subject to shareholder approval.

The company is also encouraged by recent activity in the rare earths sector.

The $1.5 billion takeover bid for Lynas Corporation by Wesfarmers Limited (ASX: WES) and the recent speculation that China may restrict further material to the US has once again seen a surge in Rare Earth prices and renewed market interest and investor sentiment back to the sector.

With China currently responsible for more than 80% of global supply of rare earths, there are supply chain concerns as Beijing could use its dominant position as a rare earths exporter to the US as leverage in the trade dispute with the sector being the next front in the trade war.

This has resulted in a strong global interest in the identification and development of non-Chinese sources of rare earths to reduce the dependence on supply from China.

The future supply of heavy rare earths is critical in the development of high-tech applications and high-performance magnets used in electric vehicles and wind turbines.

The crackdown by Chinese authorities on the mining of ionic clay deposits in Southern China for environmental reasons, the lack of substitutes along with very few significant sources of heavy rare earths outside of China, has resulted in a favourable outlook for the commodities.

Other projects

Red Mountain has a number of other projects at various stages.

A preliminary groundwork exploration programme has been designed for prospective regions within the granted Koonenberry tenement EL8997, with land access agreements currently in the process of being finalised.

The Koonenberry Gold Project covers approximately 660 square kilometres, and is located in a geologic setting considered analogous to the prolific Victorian Goldfields located in south-eastern Australia.

The Koonenberry Gold Project adjoins Manhattan Corporation’s (ASX:MHC) Tibooburra Gold Project where Manhattan announced a new high-grade gold discovery in June.

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Materials

Q&A With StockPal – NewPeak Metals (ASX:NPM)

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Q&A with StockPal - David Mason, Managing Director of NewPeak Metals (ASX:NPM)

Watch David Mason, Managing Director of NewPeak Metals (ASX:NPM), formerly known as Dark Horse Resources (ASX:DHR), and Jared Sim, Editor-in-Chief and Co-Founder of StockPal in this engaging Q&A with the following questions:

0:12 – What is your business about?
1:23 – How did your company cope with the COVID-19 pandemic?
2:40 – What projects are you currently working on?
4:55 – What is your target timeline for commercialisation?
6:10 – What is your firm’s competitive advantage?
8:24 – How are you currently engaging with your investors?

Visit NewPeak’s website to learn more about their story: https://newpeak.com.au/

Email editor@stockpal.asia if you are or represent a listed-company and is keen to be in our interviews.

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

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