gmj136-Jul-Sept19-mag-web_Neat

EXPLORATION PRODUCTION UNDERGROUND

DRILLING DRILLING DRILLING

are now 97% Egyptian, which has been very successful, given to 54 rigs across multiple contracts for both exploration and
we have a team there of some 260 people, with 12 rigs and a mine site based drilling projects, this is truly a great result
world-class maintenance workshop. This means we are naturally and a reflection of our team’s commitment to our high safety
aligned to the increasing nationalisation movement happening standards,” Rudd said.
across Africa now.”
“Our sites have continued to achieve LTI-free milestones in
The company has also initiated what they believe may be the 2019, with four of our major long-term operations having
first international training opportunity of its kind offered to achieved greater than two years LTI-free this year. These include
African employees. In February 2019, three of its employees Sukari Gold Mine in Egypt, North Mara and Geita Gold mines in
travelled to Cairns in Far North Queensland to begin a Tanzania and Tasiast Gold Mine production crews in Mauritania.
Certificate III in Engineering – Mechanical Trade at Queensland Given the number of rigs and employees across these four
TAFE, with the company covering all associated costs. Once projects, this is a very pleasing result,” says Rudd.
completed, the employees from Egypt, Mauritania and Tanzania
will achieve an internationally recognised qualification that will With exploration spending having increased across Africa for
provide further career opportunities - not just in their home the last two years and approximately 45% of exploration activity
countries but across Africa and around the world. focussed in the West African region, Capital Drilling is well
placed to take advantage of this growth.
“We are very excited to offer this opportunity for the first time
and it is another step forward in our strategy of providing “ We are excited to offer our African National employees
meaningful career development for our National employees. the opportunity to achieve an internationally
It has taken considerable preparation and planning over a recognised qualification - we believe this is the first
two-year period, working closely with Cairns TAFE to ensure of its kind in Africa.”
the attendees met entry-level requirements and with Australian
embassy staff in Africa to streamline Visa approvals processes,” “We have one of/the largest diversified fleet operating in Africa,
Rudd explains. over 30% of which is now located in West Africa and we expect
this to increase during 2019. It is also one of the youngest and
“We now plan an annual intake for employees who show most reliable, consistently achieving availability above 85%. Our
a strong capability in these areas, but who may not have crews are professional, highly trained and always looking out
otherwise had the opportunity to complete an internationally for a way to do something better or more efficiently, they don’t
recognised qualification in their home countries. Our employees just turn up to drill holes every day. What this means for our
who complete this qualification will not only replace expat roles, clients is that they can work with a drilling contractor they can
we hope they are among the future leaders of our organisation,” rely on. With our integrated service offer, including exploration,
said Rudd. delineation, blast hole, grade control and underground drilling
capabilities, we can partner with them throughout their project,
Highly trained employees deliver a further advantage for from early-stage exploration through development and into
clients, they know how to operate safely and provide a positive production. And most importantly, we’ll do it safely.”
contribution to a site’s safety culture. Safety is Capital Drilling’s
highest priority and its excellent record attributes to the
company’s positive safety culture.

“In 2018, across all our sites, we achieved zero LTI’s for the year
- such an outstanding result is rarely achieved in our industry.
With approximately 1,200 employees, operating at times up

AFRICA

Tietto tops up in Ivory Coast

by Mark Andrews

Drilling is about to intensify Tietto is on the cusp of announcing a potential
at Tietto Minerals Ltd’s 2.5 moz gold resource in Ivory Coast
Abuja-Gudehi (AG) deposit
in Ivory Coast. Ivory Coast has emerged as one of West Africa’s most stable
jurisdictions and mining is thriving, with exports of nickel
In August, a third rig laterite starting from one operation in 2018 and a manganese
purchased by Tietto will project starting to flourish on top of gold production of 25t in
arrive at the Abujar project to 2017.
help accelerate the 30,000m
diamond drilling programme “In general, the potential of the country is good, activity is high
currently in progress. and there are plans to expand the deep water port, which
would make it one of the biggest of its kind in West Africa.”
So far, Tietto’s two diamond
rigs have been performing Infrastructure-wise, Tietto’s Abujar is close to a road, while
well with the 3,000m it is estimated that twice the power capacity required for the
completed in May producing project can be accessed.
bonanza results from the
1.3 moz AG deposit. Tietto Wang has made significant progress for Tietto at Abujar since
announced a headline- 2014, in large part due to the fertile grounds of the Birimian
grabbing intersection of and a measured business approach taken in Ivory Coast.
4m @ 100.73 g/t gold from
76m, including 1m @ 394.36 “We purchased rigs and accessories, so the next 15,000m of
g/t from 77m, followed by the [current] diamond drilling has been paid off. We just need
further broad, high-grade, to account for the drillers’ wages; statistically we have been
shallow intersections in the ilk of 10m @ 25.85 g/t gold from able to drill for $US11-18/m. It is cheap and top of the class
115m, including 3m @ 79.58 g/t from 118m from ZDD043. diamond drilling according to [technical director] Paul Kitto,”
Wang told GMJ.
Within the ZDD043 intersection were hits of 1m @ 35.42
g/t gold from 118m, 1m @ 100.62 g/t from 119m and 1m @ “Nothing has surprised Kitto, he knew the ground from his
102.71 g/t from 120m. days at Newcrest [Mining Ltd] when they took an interest and
there still continues to be big company interest in the project.”
Further assays were pending when GMJ spoke with Tietto
managing director Caigen Wang.

While excited by what the next round of drilling results, the
big announcement would comprise a resource update from
AG and Abujar-Pischon-Golkkro (350,000oz resource) later
this year, Wang said.

“Our next major milestone will hopefully be delivering a
resource of 2.5 moz gold, which we think we will be able to
achieve and deliver a PFS [on the back of],” Wang said.

With more than $7 million in the bank, Tietto is well-funded
into the middle of 2020 to find out if Ivory Coast has another
Ity – the country’s longest operating gold mine, having
produced over 1.2 moz in its 20-plus year history – in the
making.

“We have stated that we want to build a mine in similar
scale to Ity,” Wang said. “The Government wants to see
more mines. Ivory Coast is an underexplored part of the
greenstone belt, which is surrounded by infrastructure and
the government support makes it a favourable destination
for exploration.”

Page 52

GHANA - WEST AFRICA

5.1 Moz

ORE RESERVE

Developer
ASX - TSX : CDV

cardinalresources.com.au

AFRICA

All that glitters in
Ghana is gold

Small-scale mining remains a major source of gold production
in Ghana

by Mark Andrews

South Africa has had a proud history of gold mining and “When it comes to inputs, there are certain materials that are
Côte d’Ivoire is emerging as a powerhouse, however, tax-free and there are other things that are increasing by the
right now Ghana is the top exporter of gold in Africa. day. There are a number of things the Government is doing
to take some of the problems off mining companies and little
A reported 158t of gold was exported from the West by little it is happening and we will get there.”
African nation last year (South Africa 139t) largely from
mines concentrated in the south of the country. But, while Perhaps a key to the next chapter in Ghana’s gold future
production has been strong, investment in exploration in could be the success of Azumah Resources Ltd and Cardinal
Ghana has lagged as Burkina Faso and Côte d’Ivoire have Resources Ltd in the north of the country.
attracted greater attention.
Azumah (Wa project) and Cardinal (Namdini) are poised
“People say that our grounds are mature, but I say the easy- to make significant announcements on the way to potential
to-find deposits are no more. We have to look harder and if production at their respective projects.
you don’t you won’t gain. You have to spend more money
to get more out, that is where we are at now,” University of Unlike the prolific gold-bearing region in the south, Ghana’s
Ghana Department of Earth Science lecturer Prince Ofori northern pastures have not been explored to any great
Amponsah told GMJ. extent.

The governments of Burkina Faso and Côte d’Ivoire have “This region is super, super underexplored. People forget
developed inviting conditions for explorers to help spark their that the Birimian [greenstone belt] continues way up into
respective gold industries. Those actions have not gone the north. It was not until Azumah and Castle [Minerals
unnoticed in Ghana. Ltd] came in and started making announcements that other
people were attracted to other parts of the belt,” Amponsah
“The Chamber of Mines watches what happens in other said.
jurisdictions to see what problems mining and exploration
companies can be helped with. Ground rents have decreased “Azumah has almost 2.2 moz gold, Cardinal 5 moz and
quite significantly, which at least saves a lot of money for whether or not the mining is easy in this region we have
exploration companies,” Amponsah said. defined resources in the region and the region is open for
development.”

Page 54

Ghana exported 158t gold in 2018

Ghana’s top gold producing mines
in 2018

Source: S&P Global

Tarkwa 566,400oz (Gold Fields Ltd)
Akyem 473,000oz (Newmont Mining Corp)
Ahafo 349,033oz (Newmont)
Chirano 246,027oz (Kinross Gold Corp)
Iduapriem 228,000oz (AngloGold Ashanti Ltd)
Edikan 208,226oz (Perseus Mining Ltd)
Asanko 205,047oz (Gold Fields)
Damang 143,600oz (Gold Fields)
Wassa 137,234oz (Golden Star Resources Ltd)
Bogoso-Prestea 121,757oz (Golden Star)
Nzema 115,621oz (BCM International)
Prestea underground 8,574oz (Golden Star)
Obuasi 3,000oz (AngloGold Ashanti)

Amponsah said the success of Azumah and Cardinal would investment,” Amponsah said.
help demonstrate to people there were alternative options
for employment than the ones currently attractive in the “We also need to learn fast and that means if we can’t raise
region where government jobs in health and education are the money, then we need the technical know-how to use that
highly sought after. investment when it comes.”

Now, with the gold price breaking through $US1,400/oz Amponsah, a lecturer at the University of Ghana’s
and two potential new mines on the cusp of development, Department of Earth Science, has benefitted from the
the mining story unfolding in Ghana’s north is something Australian Government-backed West African Exploration
Amponsah can use to motivate the next generation of mining Initiative (WAXI) and is now encouraging the next generation
academics in Ghana. of Ghanaian geologists to embrace the mining culture and
opportunities.
“Times are changing, companies are starting to invest in
exploration and there are small openings coming up for a lot “WAXI has been able to train 92 students so far in Africa.
of people. I keep hammering to my students that it is not that In terms of capacity building in African mining, WAXI has
grim out there in the mining sector,” Amponsah said. helped more than any other research group that I have
seen,” Amponsah said.
“People don’t want to end up with nothing and it is hard
getting academics into the industry. People are focused on Amponsah is also on the team at Azumah and is nurturing a
job security and think that they are going to get a government young, vibrant workforce who could well be driving Ghana’s
job when they finish studies, as private companies have mines of the future.
their money tied up in the stock market and might have other
priorities.” “Having Azumah here, finding something and wanting to build
a mine in the very near future, as well as Cardinal, opens up
Raising money in Ghana to drive mining projects is difficult, the region and makes it more economical,” Amponsah said.
increasing the need to boost skills within the country,
according to Amponsah. “The mines will attract people here because we know the
indirect employment opportunities that come from mining.
“We need more investment in the industry but we can’t raise Azumah’s mine will be super important because I don’t think
money on our own stock exchange, so we need more foreign the region can attract and develop what it wants to without
the mine.”

Page 55

AFRICA

Predictive
surges on new

discovery

by Michael Washbourne Predictive has confirmed a new gold discovery at its
Ferkessedougou North project, Cote d’Ivoire
West Africa’s wet season has brought an untimely halt to
the momentum Predictive Discovery Ltd was building Toro – operator of the JV – reacted to the drilling results by
in Cote d’Ivoire and Guinea. beefing up its on-the-ground crew at Ferkessedougou North
to “go as hard as possible” on follow-up work before the
In early June, Predictive’s share price surged 144% following rainy season set in.
confirmation of a new discovery at its Ferkessedougou North
project, northern Cote d’Ivoire. Then, a few weeks later, Upon resumption, Toro and Predictive will undertake close-
the company revealed several plus-100 ppb gold-in-soil spaced soil sampling followed by an extensive trenching
anomalies had been defined across more than 7km at its programme and then move on to drilling of key targets.
newly acquired Kankan project, Guinea.
Predictive is also devising plans to complete more advanced
Unfortunately for Predictive, the welcome announcements exploration work at Kankan, Guinea, where 306 samples
came as the wet season was set to descend upon parts of were recently returned from two concurrent soil sampling
West Africa, meaning major exploration activities such as programmes.
drilling would have to be parked up until later this year.
Multiple anomalies have been earmarked for follow-up
Predictive managing director Paul Roberts told GMJ he exploration, including drilling, following the wet season.
was unfazed by the pause in work just as his company had
begun to unearth promising results. Predictive moved into Guinea last September having
unsuccessfully tried to pick up ground in Mali. So far, Roberts
“These results are a really important moment for Predictive,” likes what he sees.
he said. “It’s vindication of our prospect generator strategy
and obviously the market response is saying that as well.” “They’ve improved their mining act to be more competitive,
their administration is open and the mining register system
A nine-hole diamond programme at Ferkessedougou North there is, in my opinion, the most transparent in West Africa,”
exceeded the expectations of Predictive and its JV partner Roberts said.
Toro Gold Ltd, with thick gold intercepts and high-grade
intervals returned from a body of mineralisation that is “We’ve worked very hard to get to know people in the
believed to be up to 100m wide and at least 210m long and ministry, they’ve responded very positively to us and have
remains open to the south and at depth. been very welcoming and we’ve been able to get hold of
some very interesting ground.”
Best intercepts reported from drilling of the Ouarigue South
prospect were 45.3m @ 3.16 g/t gold from 45.9m (including The Kankan tenure is held 100% by Predictive, something
9m @ 10.31 g/t), 45m @ 1.52 g/t from 42.1m and 39.7m @ Roberts is keen to maintain given his company has
3.54 g/t from 51.4m (including 4.5m @ 11 g/t). traditionally looked to join forces with others to fund
exploration efforts.
“Although there are some high grades within it, overall it’s
not going to be super high grade but we do have a very nice Predictive is funded for its upcoming work in Guinea,
chunky body of mineralisation,” Roberts said. having raised $531,000 via a recent placement which was
underpinned by new cornerstone investor Capital Drilling
“It’s got thickness, it’s open to the south, grades are better at Ltd.
depth and the body itself is significant. Hopefully it could be
more than 1 moz. Meanwhile, exploration programmes remain on hold for
Predictive in Burkina Faso following the murder of geologist
“The great thing about this property is the potential for finding Kirk Woodman – an employee of JV partner Progress
more is terrific. For a first discovery, on a property with a gold Minerals Inc – earlier this year. Roberts said he was hopeful
anomalous zone which is 17km long and up to 3km wide, we new security arrangements would be put in place for activities
have a huge paddock to play in.” to potentially resume after the wet season.

Page 56

Veronique proves more
attractive to Exore

by Dominic Piper

Exore Resources Ltd’s strong start to exploration in Cote By then, Exore plans to have announced a maiden resource for
d’Ivoire has continued with the explorer delivering another the Antoinette Central prospect.

set of positive drilling results in early July. Most recent drilling at Antoinette Central extended the strike

ASX-listed Exore entered the West African country in December length to 850m with hits including 5m @ 3.78 g/t, 4m @ 4.84 g/t

last year after acquiring the Boundali and Korhogo exploration and 7m @ 2.14 g/t. A new bedrock discovery 900m along strike

permits (now renamed Bagoe) from Apollo Consolidated Ltd. delivered 16m @ 1.97 g/t, 14m @ 2.06 g/t and 11m @ 2.39 g/t

Situated on the convergence of the Syama and Tongon-Banfora in April.

greenstone belts, the two permits have all the hallmarks of Tremain said the 900m by 400m gap between the new
classic West African Birimian gold settings. prospect, Antoinette South, and Antoinette Central remained a

Cashed-up Exore hit the ground running and has been drilling drilling priority.

constantly since November 2018. Its initial focus was on Exore’s ultimate aim for Bagoe is to define 2-3 moz gold

Antoinette Central at Bagoe but following a series of enticing resources capable of being mined as a standalone operation.

aircore hits on the undrilled Veronique prospect, Exore “As a fall-back position we have two plants within 50km which
managing director Justin Tremain is eager to switch focus to the currently have short reserve lives but the strategy is to define
8km-long soil target 15km south of Antoinette Central. 2-3 moz and then complete a feasibility study on the back of

The most recent aircore results included hits of 2m @ 6.46 g/t that,” Tremain said.

from 8m and 8m @ 4.3 g/t from 12m, the best The high-grade intercepts from Veronique
ever intercepts on the project, according to and Antoinette Central have helped Exore
Tremain. They followed hits of 12m @ 7 g/t defy market conditions, with the company
and 12m @ 3.12 g/t announced in mid-June. doubling its value to more than 8c/share

“The early results confirmed they were in since acquiring the ground last year.

situ and the second phase has been better “The market is tough for explorers but there
orientated on the structures,” Tremain told has been plenty of interest given the results
GMJ. we’ve produced and now we are getting

“Most encouraging is that all these hits are stuck into the aircore at Veronique there is

coming in the top 20m. While it is still very even more interest,” Tremain said.

early days, it looks like we have multiple Exore managing director Justin Tremain The company is also benefitting from Cote
zones of mineralisation at Veronique, (right) discusses the company’s drilling d’Ivoire’s growing stature among international
extending more than 1km with widths that gold miners. While Mali and Burkina Faso
could be substantial given the soil anomaly efforts with senior geologist Theodore are wracked by geopolitical uncertainty and
is 8km long and 2km wide.” Ehui Koye (left) Ghana’s gold sector rebuilds its relationship
with the Government, Cote d’Ivoire has
The company is so encouraged by the early

success, it plans to commit itself fully to become the region’s shining light.

Veronique over the second half of 2019. “It doesn’t have the security problems of further north,” Tremain

“Given the scale of the prospect and the high-grade nature of said. “And now, there are plenty of successful companies out of

the intersections, it has become a substantial prospect for us,” Burkina Faso which are looking to grow and Cote d’Ivoire is the

Tremain said. “It could be a significant gold discovery and so focus for most companies in terms of opportunity.

drilling there will be the focus going forward.” “The other part of our strategy is to build a big land package in

Exore has drilled 60,000m at Boundali since acquiring the the region and we are working on access to additional ground

project in December, spending $1.5-2 million a quarter. That now. The likes of Barrick [Gold Corp] and Perseus [Mining Ltd]

rate will slow during the impending wet season but Tremain is have ground around us but the rest is privately owned by people

keen to keep some momentum. who are looking for JV partners.

“We will keep the aircore rig going during the wet season and “It is the place to be geologically and politically. It has never had
also put in some diamond holes to scope out the geometry the same levels of exploration as other countries in the region yet
and potential dip and then launch a RC campaign in October/ has more of the mapped Birimian greenstones than anywhere.”
November,” Tremain said.

Page 57

REGISTER NOW PRESENTERS INCLUDE: REGISTER TODAY

4 - 6 September 2019John Welborn
Julian Hanna Tim Carstens Archie Koimtsidis John de Vries
Managing Director CEO & Managing Director CEO & Managing Director
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Managing Director & CEO Managing Director Cardinal Resources Ltd Black Rock Mining Ltd
Base Resources Ltd
Perth,Western AustraliaResolute Mining Ltd

Tom Revy PRESENTERS INCLUDE: Justin Tremain
Managing Director Trevor Benson David Flanagan Len Kolff Managing Director
BlackEarth Minerals NL Executive Chairman Managing Director Chief Operating Officer Exore Resources Ltd
Walkabout Resources Ltd Battery Minerals Limited IronRidge Resources Ltd

Craig Mackay Phil Edmands Mike Christie Chris Evans William Witham
Managing Director Partner - Energy Resources Director - Exploration Managing Director Chief Executive Officer
Golden Rim Resources Ltd First Quantum Minerals Ltd
Gilbert + Tobin Birimian Ltd AAMEG

Richard Hyde Eddie Grieve Ben Gargett Errol Smart Speaker TBA
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SPEAKER HIGHLIGHTS

$AE1a,a6rvl30ya10iBl.Ma0ibr0adleyinr2uac0nt.e1tGi9l ST Nick Holland
Chief Executive Officer, Gold Fields Ltd

Nick Holland has been CEO of Gold Fields – the South African-based gold miner – since
2008. Prior to that he was CFO of the company for 10 years. Under Nick the company
has introduced its vision of “Being the global leader in sustainable gold mining” and has
made significant strides in becoming a truly global mining company with operating mines
and projects in six countries.

Before joining Gold Fields Nick held senior position in other South Africa mining
companies, including Impala Platinum and Gencor. He joined the mining industry in 1990
from accounting firm Deloitte where he spent the first 11 years of his professional
career after graduating with a B.Com and B.Acc from Wits University in Johannesburg.
Nick matriculated at King EdwardsVII School, also in Johannesburg.

Kojo Annan
Investor and Entrepreneur; Director, Vector Global

Kojo Annan is a serial entrepreneur and investor, with an extensive global network
and strong track record of growing new businesses across international markets. He
is currently managing Vector Global, an investment holding company with interests
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in natural resources and infrastructure most notably by founding Meridian Port
Services (MPS) in partnership with the Ghana Ports and Harbour Authority, Bolloré
and Maersk (APMTerminals) to develop a modern container terminal inTema, Ghana.

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AFRICA

Banks give Perseus funds
for Yaoure

Perseus Mining Ltd has secured funding for the 54,000oz and spot deferred sales contracts for 221,000oz at
construction of its Yaoure gold mine in Cote d’Ivoire after an average of $US1,297/oz.
signing a $US150 million debt facility.
A consortium of Macquarie Bank, Nedbank and Societe Perseus managing director Jeff Quartermaine said the debt
Generale is providing the $US150 million revolving cash facility was the final piece of the Yaoure funding plan.
facility. Interest payable on the loan is LIBOR plus an initial
4.25% which will vary in line with the company’s leverage “Development work at Yaoure has started with the purchase
ratio. of long-lead items of plant and equipment…full-scale activities
The facility can be used for general corporate purposes, can now be accelerated safely in the knowledge that all funds
including the refinancing of its existing $US31.5 million of required to develop our third gold mine will be available when
project loans. the conditions precedent to the drawdown are satisfied,” he
Perseus said the debt facility would not impact its hedging said.
policy which sees no more than 30% of projected gold
production hedged in any given year. The company’s hedge Perseus is aiming for group output of 500,000 ozpa once
book currently has deferred fixed forward sales contracts for Yaoure hits full production, scheduled for 2022. A DFS
released in November 2017 showed Yaoure capable of
Perseus Mining will push ahead with development of its hosting an 8.5-year operation, producing 1.367 moz gold
Yaoure project in Cote d’Ivoire after securing a new (including 215,000 ozpa for the first five years) at all-in costs
$US150 million debt facility of $US759/oz. Capex for the project is estimated at $US263
million with IRR of 23%, a payback period of 35 months and
NPV of $US210 million.

Quartermaine said the new facility would also allow Perseus
to continue funding exploration at Yaoure and its two other
mines; Sissingue (also in Cote d’Ivoire) and Edikan (in
Ghana).

“We expect to be able to materially add to the expected life of
the Yaoure operation,” he said. “Planning of this exploration is
under way and we hope to be able to progressively announce
the results of an exciting FY2020 exploration programme.”

Resolute hits London

Resolute Mining Ltd arrived on the London Stock Exchange Resolute managing director John Welborn rings the bell for
in June as it looks to up its international profile. opening on his company’s first day listed on the LSE

The ASX-listed miner has operated its Syama mine in Mali
for more than a decade, but with the domestic market still
showing a preference for parochial stories, Resolute believes
it can tap into a more Afrocentric investor base in the UK.

“The dual listing in London and subsequent increase in
profile in global investment markets is perfectly timed as
we ramp up the new Syama underground mine in Mali,”
Resolute managing director John Welborn said. “Syama,
once commissioned, will be the world’s first fully automated
underground gold mine.”

Resolute became the fourth African-focused Australian
company to list in London in the last 12 months, following
potash developer Danakali Ltd, diamond miner Lucapa
Diamonds Ltd and copper explorer Mod Resources Ltd.

Page 60

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reDgRiIoLLnBaITlSroundupExploring together for success bostech.com.au

Silver Lake has identified high-grade mineralisation in a new area RNC better on the gold hunt
of focus between Deflector and the South West target area
RNC Minerals Inc has substantially increased the mineral
DEFLECTOR GETS THE ATTENTION resource for the Western Flanks Zone at Beta Hunt in Western
Australia.
Surface and underground diamond drilling has intersected
high-grade gold and copper mineralisation over a 300m zone A total of 16,876m of drilling in 144 drill holes were completed
between the southern limits of the Deflector mine and the 3.1m at Western Flanks during the grade control, resource definition
@ 9.9 g/t gold and 7.5% copper intercept at Deflector South and exploration drilling programme. Mineralisation at Western
West. Flanks has now been defined across a 1.2km strike length
and to a depth of 150-250m below the basalt contact, with the
Results from four surface holes completed included 5.5m @ increase in resource achieved at a discovery cost of less than
18.4 g/t gold and 0.1% copper and 1m @ 17.9 g/t and 0.1%, 1m $5/oz.
@ 89.4 g/t and 2%, 1.1m @ 69.6 g/t and 0.7%.
“This increase in resource size is an outstanding result and
Underground drilling extended high-grade gold-copper confirms the exploration potential we always believed existed
mineralisation about 40m beyond the previous southern-most at Beta Hunt,” RNC president and chief executive Mark Selby
limits of the Deflector mine workings. Results included 0.3m @ said. “Today’s 710,000oz measured and indicated resource
239 g/t gold and 2.4% copper, 0.8m @ 60.5 g/t and 0.3%, 0.6m with a further 250,000oz inferred resource comes from just over
@ 51.5 g/t, 1m @ 34.1 g/t and 2.6% and 5.1m @ 9.7 g/t and 1km of strike length on a single shear complex in the Western
0.1%. Flanks, which we believe represents only a fraction of the mine’s
overall potential.”
In-mine drilling within the Western Zone has identified a new
high-grade gold and copper lode analogous to the Link Lode, Results are pending from the remaining 5,000m testing the
with results of 0.3m @ 90.7 g/t gold and 11.5% copper, 0.3m @ other three shears that occur over a potential strike length of
17.1 g/t and 1.6% and 0.4m @ 36.8 g/t and 4.8%. more than 4km and where gold mineralisation has been outlined
by historic drilling.
Meanwhile, the final assay received from the Tank South
discovery at Mount Monger returned 6.49m @ 7.74 g/t gold and Moho sharpens arrow
8.71m @ 3.38 g/t.
Moho Resources Ltd has reported positive results from 24 RC
holes testing the north-west trend along track near the gold
discovery at Arrowhead within the Empress Springs project,
50km south of Croydon, Central North Queensland.

Drilling has significantly extended the Arrowhead discovery
zone vertically and laterally, with results including 22m @ 1 g/t
gold from 46-68m (including 12m @ 1.4 g/t from 46-60m and
24m @ 0.7 g/t from 46-70m).

Results from six holes were outstanding at the time of print, with
Moho intending to drill another 7,000m of aircore at Arrowhead
to determine the extent and orientation of mineralisation within
the heritage cleared area.

Exploring together for success

Page 62

Exploring together for success bostech.com.au

Thunderstorm on the horizon Saturn launching at Apollo Hill

Independence Group NL (70%) and JV partner Rumble Saturn Metals Ltd was continuing with RC drilling at Apollo Hill,
Resources Ltd (30%) have struck significant high-grade following up on high-grade intersections like 10m @ 5.78 g/t
gold mineralisation in a large-scale palaeo-drainage system from 46m (including 5m @ 11 g/t from 46m) at the time of print.
and underlying basement on wide-spaced aircore drilling at In the meantime, the company announced intersections from
Thunderstorm in the Fraser Range. main lode resource drilling at Apollo Hill of 30m @ 1.23 g/t from
88m (including 15m @ 2 g/t from 103m and 8m @ 2.7 g/t from
Drilling was completed on a 1.5km by 400m pattern by project 103m), 18m @ 1.3 g/t from 18m (including 8m @ 2.4 g/t from
manager Independence, with results from Themis including 28m) and 7m @ 3.39 g/t from 31m.
25m @ 2.42 g/t gold from 42m (including 5m @ 10.85 g/t from “We look forward to incorporating the results into our next
49m), while at Pion – 13km along the paleo-drainage – 4m @ resource upgrade. Importantly, drilling has recommenced at
3.8 g/t from 86m and 4m @ 0.34 g/t from 106m were hit. the Apollo Hill hanging wall in the north, where an aggressive
programme is testing for shallow high-grade mineralisation,”
Rumble considers the Themis prospect to be the most Saturn managing director Ian Bamborough said.
significant gold intercept in the Fraser Range in recent years
outside of the Tropicana gold system. Saturn has reported solid resource drill results from its
Apollo Hill gold project, WA
Independence will soon begin infill drilling around the significant
high-grade gold mineralisation, with broad-spaced 1.5km by
400m aircore drilling over the remaining untested areas being
completed at the time of print.

Industry leaders in Aircore
Deep hole Reverse Circulation
Experienced in complex remote exploration drilling

29a Clayton St, Bellevue WA 6056

www.bostech.com.au 08 9250 4252

Page 63

DEALS OF GOLD

METEORIC TURNS TO BRAZIL’S the miner has repaid $3 million.
LARGEST DRILLER
Blackham said the new facility would provide it with “valuable
GEOSOL – Brazil’s largest drilling company – has been certainty” as it undertook mine development to progress its
contracted to undertake a maiden diamond programme for sulphide expansion strategy.
Meteoric Resources NL at its newly acquired Juruena gold
project. As part of the terms of the facility, Blackham will issue MACA 265
The drill rig and equipment was expected to arrive on site in early million shares, increasing the contractor’s holding to 19.33%.
July and begin work immediately.
Meteoric plans to target historic bonanza-grade intercepts at Blackham is aiming for 120,000 ozpa of annual production
the Dona Maria and Querosene prospects, as well as testing from Wiluna. In its March quarterly report, it downgraded FY19
additional nearby targets at Mauru, Tomate and Uilliam. production guidance to 66-68,000oz at AISC of $1,700/oz.
The initial programme will comprise 26 holes for about 4,700m.
GEOSOL’s logistic base in in the township of Peixoto de Azevedo, Blackham executive chairman Milan Jerkovic said he was
along the Alta Floresta belt which hosts Juruena and Meteoric’s pleased with MACA’s ongoing support.
nearby Novo Astro project.
“[It] allows the company to continue to prioritise improvements
Meteoric has appointed GEOSOL to complete a to operational performance and cost reduction to reduce debt
maiden diamond programme at Juruena, Brazil and allow for the transition to the Stage 1 expansion sulphide
development which will unlock the large sulphide reserves and
MACA backs Blackham again resources at Wiluna.”

MACA Ltd has continued to dig in with Blackham Resources SRG extends stay at key Evolution sites
Ltd, providing a second working capital facility of $12 million for
the struggling miner to transition to sulphide production at its SRG Global has won a new multi-year $115 million contract for
Wiluna operation. drill-and-blast services at Evolution Mining Ltd’s Mt Rawdon and
Blackham has been battling to keep its head above water for Mt Carlton operations in Queensland, plus its Cowal mine in New
more than 12 months following the failure of its oxide gold South Wales.
strategy at the notoriously tricky Wiluna mine. MACA had
already provided Blackham with a $14.3 million loan, of which Under the terms of the “umbrella” agreement, SRG will extend
its existing five-year relationship with Evolution and generate
revenue of about $78 million from the first three years.

SRG has a further two-year extension option which, if exercised,
would lift the total revenue to about $115 million.

The new agreement assumes SRG will use assets from its
existing fleet with minimal growth capital required over the
contract term.

Rexx roars at ‘challenging’ Granny
Smith task

A “game-changing” mine haul truck designed and built by Bis
has been drafted in for a “challenging” assignment at the Granny
Smith mine, near Laverton in Western Australia.

The Gold Fields-run mine identified Rexx – a dual-powered
20-wheel dump truck – as being suitable for helping shift

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Page 64

Rexx was required to complete round-trips of 30km from
the Wallaby pit to the stockpile location at Granny Smith

thousands of tonnes of waste material out of the Wallaby pit to a Already under construction, the microgrid project has the backing
stockpile 15km away. of the Australian Government, with the Australian Renewable
Energy Agency (ARENA) contributing a recoupable $13.5 million
Bis chief executive Brad Rogers said the campaign not only to the build.
capitalised on Rexx’s strengths such as versatility and range, but The micro-grid will be owned and operated by global energy
also provided a challenging environment to further test the truck group EDL, which will recoup its investment via a 10-year
in different conditions. electricity supply agreement. It will consist of five wind turbines
delivering 18MW of power, a 10,000-panel solar farm contributing
“Rexx is performing extremely well at the mine, proving its ability 4MW a 13MW battery energy storage system and a 16MW gas
to come out of the Wallaby pit with a 160t payload,” he said. engine power station to underpin supply when required.
“As part of the testing during the trial, Rexx has also completed Current estimates have the Agnew micro-grid initially forecast to
numerous hill starts fully loaded, on the incline.” provide 55-60% of the mine’s energy needs.

Rexx is understood to have more than four times the distance Agnew will soon be powered by a micro-grid
capability of competing dump trucks and an on-demand power combining wind, solar, gas and battery storage
system that lowers fuel consumption.

“Grunt work” at Granny Smith follows extensive testing at
Glencore’s Murrin Murrin mine where Rexx proved its ability to
deliver up to a 30% reduction in operating costs, compared with
conventional dump trucks.

Landmark micro-grid powers up Agnew

Gold Fields Ltd’s Agnew mine will become one of the first
Australian operations to be predominantly powered by renewable
and low-carbon energy, thanks to a $112 million investment in a
micro-grid combining wind, solar, gas and battery storage.

[email protected] | www.capdrill.com

Page 65

HIDDEN TREASURE

Murchison mental health
services boost

Youth Focus has teamed with Sandfire Resources NL, DDH1 This has proven very effective in connecting with at-risk youths,”
Drilling Pty Ltd and Sodexo to boost mental health care he said.
services in Western Australia’s Murchison region.
“The need is well documented. Research shows that suicide rates
Sandfire will provide $150,000 over the next three years, enabling are five times higher in Aboriginal and indigenous communities.
Youth Focus to strengthen its psychological care offerings For this reason, it is imperative that we have trained clinicians
through its Murchison Youth Severe Service programme. In working with local communities to help arrest this trend.”
addition, contractors Sodexo and DDH1 will commit $30,000
each over the same period. The Murchison Youth Severe Service programme was initially
funded by the WA Primary Health Alliance last year, providing
The programme – servicing the Murchison communities of $345,000 over 18 months.
Meekatharra, Mt Magnet, Cue, Yulga Jinna and Buttah Windee –
provides free counselling support for disengaged young people Sandfire, DDH1 and Sodexo will contribute $210,000 to mental
with severe anxiety, depression, early psychosis and other health services in the Murchison region, WA
mental illnesses.

A part-time female Aboriginal youth engagement officer will also
be recruited, in addition to two clinical psychologists who visit the
region each week to provide free one-on-one counselling and
a full-time Aboriginal youth engagement officer who is based in
Meekatharra.

Youth Focus chief executive Arthur Papakotsias said the
partnership would enhance outreach services in the region.

“Our tailored Murchison programme uses the fundamentals of
song, art and traditional Aboriginal culture to engage with young
people and broach important discussions about mental health.

INDEX

Acacia 48-49 Evolution 22, 24-26, 64 Meteoric 64 Rox 39
Advent 38 Exore 57 Millennium 20, 27, 36-37 Rumble 63
Alice Queen 12 Minjar
Altan Rio 29 Gascoyne 4, 18-23, 28, 40 Mod 29 Sandfire 12
AngloGold Moho 60 Saracen 14
Apollo Consolidated 31, 55 Gindalbie 43 Musgrave 62 Saturn 63
Atlantic 6, 57 32 Silver Lake 8, 27, 41, 62
Azumah 43 Glencore 25, 65 South32 12
54-55 Spectrum 28
Gold Fields 42-43, 55, 64 St Barbara 4, 12, 20, 29,
42-43, 44
Gold Road 19, 21, 23, Newcrest 27, 52
42-43, 46 Newmont 44, 55
Northern Star 12, 26, 44
Barrick 25, 48-49, 57 Golden Star 55
BCM 55
Black Rock 46 Hanking 29 OceanaGold 38 Tasman 38
Blackham Heron 23 Orminex 27 Tietto 52
4, 18, 20, 23, Toro Gold 56
40, 64 Tribune 26

Calidus 20, 40-41 Impala 42-43 Pantoro 27
Cardinal 53, 54-55 Independence 63 Perseus 10, 55, 57, 60
Castle Polar X
54 Kinross 55 Predictive 12 Venus 39
Kirkland Lake 44 Progress 56
Pure Gold 56
Dacian 4, 18-23, 28, 40 Lucapa 60 44 Western Areas 42
Danakali 60 Lundin 12 White Rock 12

Echo 22, 30 Metal Hawk 31 Regis 22
Enterprise 26 Resolute 60
RNC 62

Page 66

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Page 67

One of Australia’s highest grade gold projects

Historic Bellevue Gold Mine

• A rapidly growing high-grade gold discovery in Western Australia
• +1.5 Million Ounces @ 11.8g/t gold delineated in less than 12 months
• Multiple drill rigs turning for a resource upgrade in mid-2019
• Strong cash positive of $20 Million to fund further reserve growth
• Highly experienced team with a track record of exploration success and corporate growth

+61 8 6424 8077 ASX: BGL
[email protected]
bellevuePgaogeld6.8com.au