gmj148-July-Sept-mag-web-Neat

Abujar:


West Africa’s next gold mine








Targeting first gold
Targeting first gold in Q4CY22



in Q4CY2022
260,000oz gold forecast in first year of production

at AISC US$651/oz*




* DFS 5 October 2021


















































ASX: TIE


Contact: + 61 8 9420 8270 [email protected] www.tietto.com
+
Contact: 61 8 9331 6710 [email protected] www.tietto.com

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DIGGERS & DEALERS PREVIEW



Astral has




sights set



on the stars






by Fraser Palamara



lans to grow Astral Resources Ltd’s Mandilla gold project
Pbeyond 1 moz were backed in May after drilling hit a
peak of 0.3m @ 595.03 g/t gold.
The drill hit at Mandilla’s Theia target – one of the project’s
Diamond drilling at Mandilla’s Theia target south of Kambalda
three deposits alongside Eos and Iris – is the highest-grade
fresh rock intersection ever reported at the project, south of
Kambalda.
in June with strong recoveries demonstrated in coarse grind
Other drill hits were also encouraging, including 0.41m @ sizes up to 212 micrometres.
35.27 g/t gold, 0.3m @ 64.14 g/t and 25m @ 10.57 g/t.
“Mandilla’s metallurgical properties have been demonstrated
Astral has grown the Mandilla resource three times over the to be insensitive to a coarsening grind size which will result
past eight months with the latest estimate totalling 24mt @ 1 in a lower capital and operating costs for processing,” Ducler
g/t gold for 784,000oz. said. “This significantly de-risks Mandilla.”
Managing director Marc Ducler is not only confident of Ducler’s experience in the industry is moulded from senior
bringing Mandilla to the 1 moz mark but is also keen to management roles with Gold Fields Ltd, BHP Ltd and
rocket the project to a critical mass of up to 1.3 moz within Fortescue Metals Group Ltd and, more recently, listing and
a year from now. leading Egan Street Resources before it was successfully
“At Mandilla, in that 75km radius, we have the biggest taken over by Silver Lake Resources Ltd in 2019 for $68
undeveloped deposit in the region and certainly the biggest million.
that sits in a junior’s hands,” Ducler told GMJ. “Mandilla is “That entire [Egan Street] management team has come
a project that definitely gets mined and the challenge for us across to Astral, so this is certainly a management team
is to ensure that our shareholders make some money out of that will be able to get Mandilla to the point where it is fully
that eventual development. permitted and development-ready,” Ducler said
“In a year from now, we would be in the midst of completing “The challenges in front of us will be how to realise value and,
technical studies, we would have reached the critical mass for us, the main thing we can control is to get it development-
at 1-1.3 moz and be looking to deliver on a PFS and DFS ready and look to get funding.”
and then move onto funding.”
At the time of print, Astral was awaiting drill results from
Astral management said a drill hit of 25m @ 10.57 g/t was 10,600m of aircore completed at the Eos deposit.
the most encouraging of the bunch as it sits in a high-grade
Northeast of Mandilla, Astral also commands the Feysville
zone of mineralisation previously not reported.
project which is 14km south of Kalgoorlie’s iconic Super Pit.
“We got some exciting intersections on the west margin Feysville currently has a resource estimate of 3mt @ 1.3 g/t
of Theia, and Theia has the majority of ounces there, so gold for 116,000oz.
we had a couple of good hits,” Ducler said. “They were in
“Feysville is certainly a very interesting piece of ground and
areas that previously hadn’t returned significant amounts of
there are some good opportunities there,” Ducler said
mineralisation, so that has been a bonus for us and we’re
“We’re currently doing a detailed review of all the data that
going to follow that up with more diamond drilling over the
we have and that’s going to set us up with some high-priority
next couple of months now that the diamond rig is on site.”
targets to start drilling later this year…but our focus is very
Phase 2 drilling at Mandilla so far has seen a completed
firmly at Mandilla as we see that project as being the closest
aircore programme while RC and diamond drilling continue.
to reaching development scale.”
The project also delivered positive metallurgical test results

Page 52

YOUR SUSTAINABLE REFINING PARTNER




Tombola looks to pick



a winner





by Fraser Palamara



ombola Gold Ltd is looking to achieve producer status after throughout the due diligence and we’re working in the best
Tmoving to acquire the Lorena mine and processing facility and most efficient manner to get it up and running as soon as
outside Cloncurry, Queensland. possible,” he said.
Tombola signed the binding term sheet for the facility in mid-June The acquisition of Lorena comes after Miles was initially
and is to pay $5 million in cash and $3 million in shares. appointed to the Tombola board in March before elevating to
The Lorena assets include mining and exploration leases, an managing director in May. He possesses a financial background,
open cut gold-copper mine, a 250-350,000 tpa gold-copper unlike the typical degrees in geology or engineering often seen in
processing plant and a permitted tailings storage facility. the resources industry.
The purchase complements Tombola’s nearby Mt Freda gold As a former stockbroker and hedge fund manager, Miles rubbed
exploration complex and supports not only a Q4 production target shoulders with the resources industry and found fitting into
but also the optionality to process copper along with the gold. Tombola to be an easy transition.
Managing director Byron Miles said Lorena provides Tombola “The more I looked into Tombola’s projects, the more I thought the
with the flexibility a junior company needs to carve out its name company was undervalued and I believed I had the capabilities
in the industry. and support to turn it around,” he said. “We’ve now got some
institutions on our register now.
“Being a small company, we have to be dynamic and that in itself
has given us the opportunity to not only process our own ore with Tombola has already stockpiled more than 15,000t of material at
improved recoveries, but to also take advantage of any copper its Comstock and Shamrock open pits
that’s in the area as well,” Miles told GMJ.
“We’re adding a great asset to our company which allows
Tombola to have the flexibility to produce not just gold but also
copper.”
Tombola had previous plans to construct a vat leaching operation,
which will still go ahead, but the addition of a CIL operation in
Lorena now helps to boost prospective production as well.
“We’re working on becoming a substantial gold miner here in
Australia and our vat leach operation was going to make us do
20,000 ozpa, that will continue to be built next year to produce “Being able to get the money to get the company up and running
all of our low-grade stuff,” Miles said. “Buying Lorena allows us is always a good start but being a managing director of a company
to have the ability to double our capacity in 2023. We’re doing a isn’t just about the financial background, it’s about having good
lot of work at the moment to optimise how we mine our different knowledge across all aspects of running a company.
pits and grades, moving forward to make the company run as
“After running a hedge fund and watching small-to-mid cap
efficiently as we can.
mining companies over a long period of time, I believe I’m pretty
“Being a small gold company, you have to be dynamic and well qualified to lead this company through the financial markets
I believe that’s what it takes to be a decent managing director; to a positive outcome.”
you have to take opportunities where they present themselves
Lorena is just 30km from Tombola’s flagship Mt Freda gold project
and this opportunity was too good to pass up for the future of
where its Golden Mile target is ahead of schedule with two open
Tombola.”
pits being developed.
Achieving production would be the first time for Tombola since
“A years’ time from now, we need to be producing circa north of
the company previously poured gold under a different name
25,000oz gold,” Miles said. “We’ve given ourselves an opportunity
going back to the 1980s before sustaining a market crash.
to grow, we’ve given ourselves an opportunity to take advantage
Miles expects reviving the under care-and-maintenance Lorena of copper and gold in our current tenements and potentially even
will be a relatively simple task. the tenements near us which could add ounces or a longer life of
“There’s no long-lead items that have given us any concern mine for the company.”



Page 53

AFRICA REVIEW




Striking sentiment gold



in Africa




by Fraser Palamara


fter years of welcomed success, the global gold St Barbara took the tumble after placing its plans for
Amarket has faced a fairly unforgiving past quarter as expansion in Papua New Guinea under strategic review,
inflationary cost pressures turn up the heat on producers directly citing inflationary costs pressures as the catalyst.
and project developers, including those operating in Africa. For every swing and roundabout in the global gold market,
Labour shortages exacerbated by the COVID-19 pandemic solace can be found in the homegrown projects of Australia
– which has proven to be a slow-crawl for the world to – and more demonstrably in Western Australia – due to the
emerge from – have made the logistics of constructing new country’s operating stability.
projects and keeping production in guidance a hard task. However, the average Australian investor is known to be less
Aspiring producers looking to carry years of exploration than-patient with projects abroad and one such jurisdiction
success over to a producing mine now face uncertain gold to be especially privy to such impatience is Africa for its
prices and costs, while trying to pin down a semblance of stigma of geopolitical instability.
reliability in studies and forecasts. This is despite ASX gold producers such as Newcrest
Such uncertainties are perhaps best reflected in the Mining Ltd, Northern Star Resources Ltd and Evolution
rollercoaster gold spot prices that have fallen as low as Mining Ltd seeing great success on home soil over the past
$US1,726/oz and peaked as high as $US2,052/oz over the decade.
past year. Speaking at the Africa Unlocked discussion in June,
But the sharpest blade to the industry has been the cost Perseus Mining Ltd managing director Jeff Quartermaine
pressures for labour and logistics with mid-tiers such as St said the average ASX investor’s trepidations towards Africa
Barbara Ltd dropping more than 39% in share price value in could often be unfounded.
a single month to trade at less than 80c/share. “The more traditional general investor is a little bit hesitant to






































Paydirt’s Unlocked series returned in June with a discussion on what it
takes to operate, develop and mine in Africa

Page 54
Page 54

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AFRICA REVIEW




join the fray, they see risks that are perhaps by supply chain issues brought on by trade
not there,” Quartermaine said. “There’s a disputes with China and the war in Ukraine.
full spread of attitudes and the challenge for “We’re obviously quite concerned about the
us as companies is to find our niche, to find food security issue, in particular in Sudan,
people that know the story and then support where they get a large proportion of their
it. I think in that respect, Perseus’ register wheat from Ukraine and Russia,” he said. “If
has changed an awful lot over the time. that situation doesn’t resolve, there’s going
“When we first started off, we raised a lot to be a lot of hungry folk around and that
of money in Toronto. The sort of company obviously leads to instability.
we were in those days was one offering “I think there’s a lot more [instability] to
enormous promise to the speculative end come and it’s going to have a very profound
of the market and people poured in by the effect on our industry and it’s probably
numbers.” going to change the perspectives of a lot of
Quartermaine was joined on stage by people. No doubt there’s been a squeezing
Firefinch Ltd’s Michael Anderson – who on margins, so investors will look at that
resigned from his managing director post and say, ‘maybe I should put my money
later that month, with Andrew Taplin now somewhere else’.”
acting as the company’s chief executive Black Rock’s de Vries has faced his own
– and Black Rock Mining Ltd managing experiences of hardships of operating in
director John de Vries. Africa but didn’t hesitate to go in to bat for
Anderson conceded that investing in Mali the jurisdiction even when reflecting on
Firefinch managing director Michael
“isn’t for everyone” but asked the audience the curveball of tax change made by the
Anderson resigned from his post in
to reflect on Australia’s own risks that Tanzanian Government in the past.
late June
sometimes go undiscussed. “There was a ‘control, alt, delete’ moment in
“Australia isn’t risk free either,” he said. “I’ve only been Tanzania in terms of the mining code,” he said. “Why did they
party to one expropriation in my career and it was in New do it? They did it because of perceptions of unequal benefit
South Wales. People tar Africa with this brush of risk and sharing and there’s a whole lot of history to get into that.
the like. What’s the conversation in Queensland as we That’s about corporate communication, communicating
speak? Increasing royalty rates…but let’s not single any with Government and being transparent. I think that’s an
jurisdiction out. It’s all part of accountability we all have.
the equation, so is the project “We had just started the
and so are the people.” DFS on what we believed
The Queensland Government was a world-class project
copped backlash from the and it brought us to a difficult
mining sector, particularly decision: Do you walk away
coal miners, in June after or hunker down and keep
introducing a massive tax going? We made the decision
hike over two new policies to keep going because you
that are designed to raise don’t always get world-class
$2.6 billion over four years projects.
to help alleviate health and “Western Australia is a great
transport spending. place to be, but it is the
Speaking on cost pressures anomaly and not the rest of
in the gold market, the world. You have to deal
Quartermaine said those with political risk and political
based on the African continent risk is jurisdiction agnostic.
were not immune to what is an
Black Rock managing director John de Vries with Perseus managing
industry-wide issue.
director Jeff Quartermaine
“I don’t think anyone in this
business is not [experiencing
them] and to be frank, anyone who says they’re not seeing
Watch the full replay on Paydirt TV
cost pressures, probably hasn’t looked at their accounts
recently,” he said.
Quartermaine also said these pressures were exacerbated



Page 56
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Mako sharpens teeth



for resource growth






by Michael Washbourne



t might have accounted for a mere 37% of the maiden resource, Mako’s maiden resource is confined to just 4.4km of the
Ibut Mako Gold Ltd managing director Peter Ledwidge expects 30km long mineralised Napie shear. With international travel
the Gogbala deposit will dominate the next update of the restrictions now lifted, Ledwidge and his wife Ann – the
company’s mineral inventory at its flagship Napie project in Cote company’s general manager, exploration – have relished the
d’Ivoire. chance to get back on the ground and join the search for more
Mako unveiled a long-awaited maiden resource of 22.5mt @ 1.2 gold.
g/t gold for 868,000oz for Napie in June, comprised of inferred “Ann, myself and our database geologists actually went there
resources for Tchaga (14.6mt @ 1.16 g/t for 545,000oz) and in April, that was a really good trip because obviously we hadn’t
Gogbala (7.8mt @ 1.29 g/t for 323,000oz). Some 93% of the been there for a couple of years because of COVID, so it was
resource sits within 150m of surface and 68% within 100m. really nice to see what’s been happening on the ground,”
The company delayed the release of a maiden resource for Ledwidge said.
almost a year after making the strategic decision to include
Gogbala in its initial estimate. The resource is open along
strike and Mako believes it can be increased cost-effectively
by shallow drilling, especially below 160m where high-grade
blocks were not included in the final calculation.
Ledwidge said there was some “really cheap, low-hanging fruit”
for the company to pick in the next round of resource drilling.
“We think we can grow the resource more quickly and more
cheaply now because we know where to drill,” Ledwidge told
GMJ.
“There’s huge growth opportunities on Gogbala. We have a fault
that’s about 4.5km long where we’ve only got about 20,000oz
of our resource on there, which was the last place we actually
started drilling before cutting it off for the resource. Then we’ve
Peter Ledwidge
got another 2.5km north of Gogbala.
“I like to call Gogbala our New Zealand because if you look at
the resource, there’s a North Island and a South Island and a “I don’t think us getting back on the ground has changed the
little gap between them, so there’s another place where we can speed of what we’re doing but it’s certainly increased the
grow the resource. So there’s some really cheap, low-hanging knowledge base both ways. Obviously, both Ann and myself
fruit for us in that resource. have over 30 years’ experience, 20 of those on the ground, so
“We’ve got just under 900,000oz now, but I can see us quickly we can give some pretty good input into things. There’s nothing
growing that to 1.5 moz, mostly on Gogbala. Once we hit that that we ask our geos to do that we’ve never done ourselves.”
target, that’s when you start doing your scoping studies and Ledwidge bemoaned the “horrible” timing of the maiden
feasibility and so, while you’re still adding ounces. We’re hoping resource announcement which coincided with a major pullback
to get 2-3 moz, even 4 moz, by the time the feasibility is done.” in the share market. That pain was soothed, however, by the
Additional resource potential at Tchaga North and Komboro will support shown from the company’s long-term investors during
also be tested during the next exploration campaign at Napie, the recent PDAC conference in Canada.
along with the conversion of inferred material, predominantly “I’ve just come back from Toronto talking to some of our key
at Tchaga, to indicated classification. Drilling is expected to North American investors and they’re all really happy with what
resume upon the end of the wet season. we’re doing and said, ‘look, don’t worry about the markets, this
Preliminary metallurgical test work at Tchaga has also stuff will iron itself out’,” he said.
indicated recoveries over 94% in both the oxide and fresh “They see we’re onto something pretty decent here. I watch our
rock, demonstrating gold at Napie is likely recoverable via register every day, I see the smarter long-term investors are
conventional cyanide leaching. buying on market right now.”



Page 57
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After more than a decade as a leading
exploration, mining, oil and gas and industrial
equipment supplier, Abidjan-based X&M
Suppliers provides companies with specialised
solution, service and logistic, based on
extensive in-country and international
experience and in-depth knowledge of the
requirements of the unique challenges
presented by operating in West Africa.

GMJ speaks to X&M founder and chief
executive Stanislas de Stabenrath about the
company’s growth and the keys to establishing
successful supply chains in West Africa.


With global supply chains Stanislas, X&M has been around for more than

stretched and regional a decade, how did the company start?
exploration windows X&M Suppliers was born in 2012 in Abidjan. After almost 10 years of
activity and diversification in terms of product families and activities,
narrow, West African our group includes a base in Côte d’Ivoire, Hong Kong, Mali and
miners and explorers must soon Burkina Faso. X&M is historically a Geological and Mining
Supplier but since inception we serve other segments such as: oil
ensure they have robust and gas sector, industrial sector, institutional, etc. Our extensive
procurement strategies if experience in these sectors allows us to source and manufacture
they are to get the most innovative and qualitative products corresponding to customer
needs and requirements of harsh environment encountered in the
out of the field seasons. West African area.

We provide solutions from suppliers in Europe, Australia, Asia and
South Africa, and maintain a large stock in Ivory Coast and Mali.
That allows us to answer to customers’ requests in West Africa
with minimum delays. We also serve clients directly from source
in foreign currencies from our procurement agency Procurpro Ltd
in Hong Kong to compete with international suppliers. This year
marks the sub-regional deployment of our group and we plan
to expand and grow on the continent by 2023 and we hope to
become a West African giant in the coming year.

















EXPLORATION & MINING
SUPPLIERS


www.xandmsuppliers.com

www.abidjanminingdrinks.com

X&M started purely in geology and mining X&M is at the very heart of the Ivorian
supplies but you have since branched out, mining sector and was the instigator of the
into safety services, respiratory products, popular Abidjan Mining Drinks. Now activity
vehicles, etc. Do the same principles apply is picking up again after the pandemic, will
to providing the right product and service to you be relaunching the event?
clients? We are very happy to have been able to restart the Abidjan
Our vision is to be become the one-stop-shop solution in Mining Drinks, after more than two years of hiatus due to the
West Africa. Over the years we have seen poor service and COVID crisis. From September onwards, the frequency of
low reliability of suppliers in the region. Also, quality of service events will be monthly, and we look forward to welcoming
and products are not always up to international standards. anyone who is based in or passing through Abidjan. The
Health and safety is a big component of operations for the Abidjan Mining Drinks is a great networking event which allow
mining sector and for all industrials companies in Africa and it professionals from the mining sector to meet in a pleasant
became obvious to the group to develop a large portfolio and and informal way. We are working on a project to use the
knowledge in that field. event in order to create social impact in remote areas on
children education. I would like to take this opportunity to
The same principles for geology and mining supplies apply,
understanding the product use and challenges of our thank the sponsors, partners, companies, professionals, sub-
customers to offer the best solution. We have partnered with contractors and artists who have made this event a success
world-class manufacturers such as Dräger, Brady, Lukas, for several years now.
OREAS, IMDEX Ltd, and many others, allowing us to offer
local content supplies and services. What next for X&M? Will you continue
Whether you are looking for personal protective equipment your expansion?
for your team, security systems and equipment for your Yes, we will continue to expand in the region and across the
plant or specific equipment for re-mote operations, X&M will continent. We have been noticed and selected by Stanford
provide the best products at competitive price, complying University as an African business with high growth potential.
with international norms. Whether your company is in a capital For the past eight months we have been participating to the
of the region, a village in country or in the middle of the bush, Stanford seed philanthropic training program. The Stanford
we will ship your equipment in the shortest delays, anywhere seed program deliver world-class business training and
in Africa.
resources to help entrepreneurs from promising startups and
profitable companies take their businesses, countries, and
West Africa presents unique challenges regions to the next level.
from a logistics and supply perspective.
What has X&M learnt about dealing with
these challenges?
Our activities include brand and niche product distribution,
local and international purchasing, development of industrial
manufacturing solutions, resale to regional distributors and
finally the prescription of technical solutions for specific
projects. More than products, we provide technical solutions
to our customers in West Africa. X&M’s values revolve around
customer satisfaction, innovation, excellence, impact and local
capacity building. The last 10 years have not been easy every
day, but with a little resilience and perseverance we have
managed to refine our business model, which allows us today
to perpetuate our activity, to better support our customers on
a daily basis and to extend our geographical coverage.

AFRICA REVIEW


Turaco takes




its time




by Dominic Piper


umerous prospects within a big landholding in a high fertile
N belt, Turaco Gold Ltd has the classic junior explorer strategy, it
just happens to be executing it in West Africa rather than Western
Australia.
Turaco boasts an 8,000sq km ground position in Cote d’Ivoire
Turaco boasts four projects in northern Cote d’Ivoire, acquired from
Resolute Mining Ltd and Predictive Discovery Ltd in 2020, giving it
will inform the next round of drilling targeting high-grade zones within
an 8,000sq km position on what is widely regarded as West Africa’s
the 3km of strike we have identified.”
best exploration destination.
Like Eburnea, Tongon North was undrilled before Turaco arrived,
“There is no question regarding, security, government support
meaning the company must take its time in defining priority targets.
or political stability in Cote d’Ivoire and if you look at all the active
companies, including the mid-tier producers such as Perseus “We have a 500sq km package there but we have only got a whole
[Mining Ltd] and B2Gold [Corp], they are looking to expand in the lot of geochemical anomalies defined by Randgold in the early
country,” Turaco managing director Justin Tremain told GMJ. 2000s and they only drilled one target,” Tremain said. “We have
auger drilled the entire anomaly and will follow-up with aircore drilling.
“The beauty we have that no one else in Cote d’Ivoire has is 8,000sq
We have started with the Natoga prospect, where we have just put
km of untested ground. Not every project turns into a discovery, but
a 10,000m aircore programme over the top of auger hits which
having multiple projects in very prospective terrain improves our
included 11 g/t, 10.24 g/t and 3.85 g/t gold.”
chances of discovery.”
In comparison to Eburnea and Tongon North, Boundialia is relatively
Turaco appears to be keeping its options open as to exactly where
well drilled but in reality the project has barely been touched.
that discovery success will occur. Of its four projects, only the
Boundiali permit has seen previous drilling with the others – Eburnea, Discovered by Toro Gold before its takeover by Resolute, Boundiali
Tongon North and Ferke – essentially greenfields propositions. represents the most advanced of Turaco’s surfeit of projects.
The company has been rectifying that, undertaking a series of drilling “It was discovered several years ago and is already at the resource
campaigns at Eburnea, Tongon North and Boundiali over the last definition stage,” Tremain said. “Like Satama, we could put an inferred
three months. number on it but want to grow it a bit more before we announce a
maiden resource.”
In late June, the company produced its most impressive hits to
date, returning an intercept of 3m @ 35.79 g/t gold from 40m at the Turaco’s presence on the Boundiali belt demonstrates the primacy of
Bouake North prospect at Eburnea. its position in West Africa’s most sought-after exploration region. The
project sits between Montage Gold Inc’s 3.2 moz gold Kone project
Tremain said the hit came from just the first of six priority targets
to the south and Tongon (4.5 moz) and Sissingue (1 moz) to the north
defined at the prospect.
on the Boundiali belt. In between, companies such as Barrick Gold
“We delineated a 7km by 4km soil anomaly, then auger drilled the
Corp, Perseus and Endeavour Mining plc have made a series of
entire anomaly and defined at least six targets, each more than 1km
lower-profile finds.
in strike length,” he explained. “As a first pass programme on those
“That belt has discoveries all the way along it, so we believe there is
two, we are drilling 10 shallow RC holes, and have returned 3m @ 36
an opportunity to consolidate some of those into a single multimillion-
g/t gold in one of the first of those. We have another 7,000 samples in
ounce project,” Tremain said.
the lab from drilling across Eburnea and Tongon North.”
“Our view is the best way to add value to the Boundiali project is
As well as Bouake North, Turaco has been testing the Satama
through consolidation with other projects, either through Turaco or
prospect at Eburnea where shallow mineralisation suggests the
another group.”
company could advance delineation quickly.
Consolidation would likely pique interest in Turaco but Tremain
“We are already at the resource definition stage, the question is
believes the company is well placed to maintain momentum on
when do we want to put a resource on it yet,” Tremain said. “We
several fronts.
could produce an inferred resource quickly or do more drilling in
order to increase the grade and make it better quality.” “We are not focusing on one project, because we are reasonably
well funded with more than $10 million in the bank and we can make
With the wet season imminent, Tremain said the exploration team
our own decisions without worrying about the market,” he said.
would take its time to assess the incoming results before settling on
its next programme. “It is important we don’t get ahead of ourselves, but we remain
well insulated against the market for now and can carry on in our
“We’ve done the first pass but will come back and follow up from
own way.”
November,” he said. “We’ve done the drilling and an IP survey, that
Page 60
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Wherever we are...





































































trend with us









#paydirtmedia #magazines #conferences








Paydirt editor Dominic Piper and chairman Bill Repard at the Mining Indaba conference,
Cape Town South Africa

BELLEVUE MOBILISES ON TWO FRONTS team he had assembled for the start of underground mining.

Bellevue Gold Ltd has awarded preliminary and EPC works for “Our team includes leading managers in their respective areas
its 1 mtpa processing plant at its namesake project in Western and an enviable group of underground mining and maintenance
Australia to GR Engineering Services. personnel, backed up by the latest mobile equipment,” he said.
“Our people, combined with the outstanding management team
GR will initially focus on design engineering services, securing
at Bellevue, will ensure we maximise the huge opportunity
long-lead and critical path items, including the ball mill, crushing
offered by the high-grade Bellevue orebody.”
equipment, screens, agitators, leach and tailings thickeners.
Bellevue managing director Steve Parsons said it was an
advantage having GR return to the project after previously TEChGEN SET FOR MaIDEN VOYaGE
working on feasibility studies. TechGen Metals Ltd is set to start maiden drilling at its
“GR Engineering is one of the most recognised and reputable Jackadgery gold project in New South Wales this month after
names in the Australian gold processing industry,” he said. assembling a technical and services team.
“It’s fantastic to have another Tier 1 business involved in the
The crew includes Hali Snowball of Geoqube Consulting,
development and construction phase. Procurement & Supply Services and Matt Houston of MJ
“Commencing manufacturing of these long-lead critical Houston Associates Pty Ltd. Snowball and Houston will work
components of our 1 mtpa processing plant de-risks the with project manager Carl Swensson, former head of geology
construction schedule and puts Bellevue on the pathway to first for Normandy Mining & CRA Exploration.
gold in the second half of 2023. The appetite among leading TechGen will be the first to test beneath historic surface trench
contractors and suppliers to be involved with our project speaks
hits from the 1980s which previously returned 160m @ 1.2 g/t
volumes about its strong future.” gold with intervals of 5m @ 18 g/t and 5m @ 7.1 g/t. TechGen
Develop Global Ltd has also begun works at the Bellevue gold formally acquired the project in July.
mine after signing a $400 million contract for construction, “We are very pleased with the calibre of the recently appointed
development and production activities over a four-year schedule. NSW exploration team,” TechGen managing director Ashley
Develop managing director Bill Beament lauded the skilled Hood said. “Exceptional historic results and ‘walk up’ drill-ready
targets were a large project attraction, and we see excellent
exploration potential for both size and grade at Jackadgery.”

DYNaMIC LEaPS aT DUaL CONTRaCTS

Dynamic Drill & Blast Pty Ltd will undertake drill and blast
services for Aurenne Parker Range Pty Ltd at the Parkers
Range gold project in the Goldfields.
The contract is a formalising of works given Dynamic has been
providing services for Aurenne over a period of time.
Dynamic will also provide three drill rigs to the Northern
Goldfields Interconnect Pipeline project to carry out drill and
blast services for Nacap Pty Ltd over a six-month period.
These combined contracts will deliver revenue of up to $10
Develop managing director Bill Beament has positioned a qualified
team at the Bellevue gold mine for the start of underground works million for Dynamic over the next 6-12 months.




A WORLD OF INTEGRATED As a global engineering and project delivery organisation, we provide

SUPPLY CHAIN SOLUTIONS specialist services in the development and delivery of mineral resource
studies and projects across the world.

Africa logistics specialists / consolidations / multi-modal /
E: [email protected]
remote site logistics / warehousing / full documentation management / Working in partnership, with trust, integrity and respect.
T: + 61 8 6210 5222
projects / freight forwarding / road - air - ocean - charter
W: lycopodium.com





Page 62

Both of the works will be supported by Dynamic’s newly Sandvik surface drilling division vice president of R&D
commissioned Epiroc T45 drill rig. and product management Lauri Laihanen said industry
collaboration was at the heart of the rig’s design.
SaNDVIk SEES ThE FUTURE “We could make the selections ourselves, for example
the choice between a direct electric power supply and a
Sandvik Mining and Rock Solutions has given the resources
battery-driven system, but we want to do it together with our
and services sector a glimpse into the future with its new customers,” Laihanen said.
concept drill rig.
“With this concept drill rig, the primary role of technology is
The surface drill model, previewed at a Scandinavian
to support a zero emissions approach at the customer’s
construction trade show in May, was described as a “versatile operations, which of course aligns perfectly with Sandvik’s
R&D platform” to meet the requirements of a future-facing
own sustainability goals.”
industry.
Some of its notable features include support for electric-powered
operations from both direct and battery stored powered, as well BaRMINCO OPENS ThE COWaL PORTaL
as support for a hybrid system using a small diesel generator. Perenti Global Ltd subsidiary Barminco has secured a four-
These design decisions support contractors and services year $520 million contract with Evolution Mining Ltd for
companies – along with mine and exploration site managers – to underground works, services and development at the Cowal
meet sustainability targets such as reducing carbon emissions gold mine in New South Wales.
and impacts on environment. This additional contract to Barminco’s previous works at
Sandvik said the design carried motifs of what the resources Cowal includes the development of a second portal, as well
sector can expect from the future of its industry. as general underground mining services for the support of
continued mill feed of underground ore.
The design of the concept drill rig also supports Sandvik’s own
ambition to halve its carbon footprint of group operations by Perenti managing director Mark Norwell said it was one of
2030 while hinting at a larger design of the concept drill rig in the largest underground mining contracts in the company’s
the near future. history.
“This contract award represents not only a significant
expansion and contribution of our first underground contract in
New South Wales but is also a fantastic opportunity for Perenti
to build on our strong working relationship with Evolution, one
of Australia’s premier gold mining companies,” Norwell said.
Barminco chief executive Paul Muller said the new contract
would make a strong contribution to the local employment of
First Nations people.
“Our purpose is to create enduring value and certainty for our
clients, our people, our shareholders and the communities
in which we work,” Muller said. “At Cowal, we will prioritise
local and indigenous training and employment and local
procurement opportunities while maintaining a transparent
Sandvik’s concept surface drill rig is designed to meet future- and consistent approach to community and indigenous
facing requirements of the sector, such as the reduction of carbon engagement.”
emissions through electric-powered operations





As a global engineering and project delivery organisation, we provide
specialist services in the development and delivery of mineral resource
studies and projects across the world.


E: [email protected] Working in partnership, with trust, integrity and respect.
T: + 61 8 6210 5222
W: lycopodium.com





Page 63

GOLDEN RIM’S SWISh IN GUINEa

Golden Rim Resources Ltd saw successful results from RC
exploration and infill drilling at its Kada gold project in Guinea
during June.
The drilling, which took place along the 15km Kada corridor,
amounting to 3,691m, explored both inside and outside the
existing resource of 930,000oz.
Best intersections outside the resource were 43m @ 1.2 g/t gold
from 107m (including 9m @ 3.4 g/t), 10m @ 2.5 g/t from 92m and
45m @ 0.7 g/t from 50m.
“It is envisaged these new areas will provide considerable
additional ounces to the gold inventory at Kada,” Golden Rim
managing director Craig Mackay said.
Meanwhile, drilling inside the resource made notable intersections
of 1.8 g/t gold from surface, including 3m @ 4.6 g/t, 13m @ 1.5 g/t
Golden Rim has hit more success outside the existing
from 75m, including 3m @ 5 g/t and 17m @ 1.7 g/t from surface.
Kada resource
Golden Rim also recently divested its Kouri and Babonga gold
projects in Burkina Faso for $US15.5 million in cash. The funds
will be used to accelerate activities at Kada. ThE NExT OF kIN FOR RESOURCE UPGRaDE
Kin Mining NL is looking towards its next resource upgrade
RED RIVER FLOaTS UPSTREaM FOR at the 1.28 moz Cardinia gold project after a number of high-
grade gold drill hits in late June.
hIGh-GRaDE GOLD Several new zones of gold mineralisation were intersected
Red River Resources Ltd has received assays from nine drill following surface RC drilling southeast of historical workings,
holes undertaken at its Hillgrove gold project in New South Wales. delivering results such as 32m @ 2.98 g/t gold from 129m
Standout intersections from drilling at the Sunlight target included (including 12m @ 5.62 g/t from 129m and 12m @ 2.25 g/t from
4m @ 1.6 g/t gold from 357m, 0.5m @ 23.8 g/t from 270.5m, 0.4m 149m), 15m @ 3.03 g/t from 162m and 7m @ 2.77 g/t from
@ 1.7 g/t from 421m and 3.6m @ 3.3 g/t from 220m. 76m.
Drilling targeted extensions to the east, stepping out from the A project-wide resource update scheduled for Q3 is expected
current 2.65mt @ 4.5 g/t resource from the combined Sunlight to be bolstered by the emerging Eastern Corridor at Cardinia.
and Blacklode deposits. Kin managing director Andrew Munckton said the results
Red River said the latest results have helped to further the were a confirmation of the company’s exploration thesis on an
company’s knowledge of the deposits, including possible under-explored area.
extensions of mineralisation from Sunlight heading east and at “This is further vindication of our focus on the under-explored
depth. Eastern Corridor, and we believe that we have now developed
These results and further drilling will contribute to the company’s a very good understanding of the orientation and controls on
currently planned resource upgrade for Hillgrove. the mineralisation,” he said. “We are excited to see more thick
zones of high-grade gold in the final batch of assays from
recent RC drilling at Rangoon.”

























Page 64

DRILL hITS ThE CaTaLYST FOR FELIx TaSTES FREEDOM WITh FIRST RESULTS
MaIDEN RESOURCE Felix Gold Ltd has turned up initial assay results from its first two
holes at the Treasure Creek project in Alaska.
Catalyst Metals Ltd is now more set than ever to unveil a resource
from its Four Eagles gold project in Victoria after a bout of A combined 146m of drilling delivered results of 28.9m @ 1.43 g/t
successful drill hits over the past month. gold from 24.4m, 12m @ 0.54 g/t from 70.1m, 3.1 @ 0.16 g/t from
7.6m and 3.1m @ 0.2 g/t from 22.8m.
The company’s FY22 drill programme saw a peak result of up to
49 g/t gold at the Boyd’s Dam prospect. The holes were drilled roughly 200m south of a previous drillhole
at NW Array, therefore indicating a new zone of mineralisation
Other encouraging RC intersections included 9m @ 29.09 g/t
gold, 3m @ 25.24 g/t, 8m @ 6.72 g/t, 1m @ 49.1 g/t and 7m @ that will likely be open to the south, east and west. More assay
results were also on the way at the time of print.
2.15 g/t.
These results will be combined with previous drilling at the “This is an excellent start to our drilling activities at Treasure
Creek,” Felix managing director Joe Webb said. “With another
Hayanmi prospect to form a maiden resource for Four Eagles.
6,400m of drilling already pending assay return, and being only
“These latest results support our strategy to establish a significant
two months into a planned initial five-month drill programme, we
discovery at Four Eagles,” Catalyst technical director Bruce
look forward to a strong pipeline of further drilling results through
Kay said. “We will continue to drill in preparation for the JORC
the second half of this year.”
resource while assessing our development options and future
exploration strategies.”
Diamond drilling is now targeting further potential high-grade
areas at the project.

MIRaMaR’S CaMPaIGN haS a NICE VIEW

Miramar Resources Ltd has published multiple high-grade gold
intercepts from drilling at the Gidji JV in the Eastern Goldfields.
Aircore drilling in and around the Marylebone West and East
targets delivered results such as 1m @ 9.55 g/t gold and 4.61 g/t
(including 1m @ 7.76 g/t), 1m @ 5.18 g/t and 5m @ 2.51 g/t and
12.3 g/t.
Miramar executive chairman Allan Kelly said such success with
the drill bit was indicative that the project had the potential to host
multiple new deposits.
“Almost without exception, these results are now coming from
weathered basements beneath transported material and are
supported by pathfinders,” he said. “So far, we have outlined
multiple very large aircore gold footprints. Our next challenge is to
cost effectively locate the primary source of these footprints with
deeper RC and/or diamond drilling.”
The next bout of RC and diamond drilling at Marylebone East is
Miramar executive chairman Allan Kelly on site at the Gidgi JV
already under way.
























Page 65

HIDDEN TREASURE


Executives rough it



for a good cause





ustralians across the country have fished into their pockets
Ato help raise more than $9 million for Vinnies Australia,
with proceeds supporting those experiencing homelessness,
domestic violence and hardship.
The fundraising came from the annual Vinnies CEO Sleepout
in June which invites business and community leaders in
major cities to sleep rough for one night, with their colleagues
and friends encouraged to donate.
As part of the event, more than 100 participated in Perth,
swapping their beds for cardboard and sleeping bags for a
night under the stars at Optus Stadium.
Westgold Resources Ltd managing director Wayne Bramwell
and Blackstone Minerals managing director Scott Williamson
both braved the cold conditions, with more than $33,000
raised between the pair to help fund 108 individual support
programmes, 283 beds and 1,132 meals for disadvantaged
Australians.
Perth raised a total $800,000 on the night with notable donators
including Argonaut Ltd, RPM Global and Cube Consulting.
“Vinnies is deeply grateful to the thousands of Australians who
supported CEO and community sleepouts across the country,”
Vinnies national president Claire Victory said.
“Whether you slept out, donated, volunteered, or sponsored
the event, your contributions will ensure Vinnies can provide Scott Williamson of Blackstone Minerals and Wayne Bramwell of
hot meals, safe and warm beds and support services for Westgold Resources helped contribute more than $33,000
people experiencing disadvantages for the year to come.” for the cause

INDEX

Agnico 8 Encounter 50 Kin 64 Ramelius 4, 26
Alkane 32 Endeavour 60 Kingston 44-45 Red River 64
Allkem 48 Evolution Mining 4, 6, 10-11, Regis 4, 26
AngloGold 12 12, 13, 15, 42, 46, 54, 63 Mako 57 Resolute 60
Astral 52 Medallion 46-49
Aurenne 62 Felix 65 Miramar 65 Saturn 12-13
AuTeco 14 Firefinch 54-56 Montage 60 Silver Lake 4, 40-41, 46,
First Quantum 48 50, 52
Musgrave 40-43
B2Gold 60 Fortescue 52 St Barbara 4,10-11, 12, 15,
45, 54
Barrick 19, 60 Newcrest 4, 32, 54
Bellevue 62 Glencore 20 Newmont 8, 19-20, 50 TechGen 62
BHP 43, 52 Gold Fields 12-13, 18-23, Northern Star 4, 6, 10, 12,
25, 26, 36, 52 Tombola 53
Black Cat 50 14, 54
Gold Road 12, 13, 19, Novo 8, 13 Turaco 60
Black Rock 54-56
26-27, 50
Golden Rim 64 Westgold 36-37, 41, 46
Catalyst 65 Oz Minerals 15
Hamelin 50 Yamana 18-21
Dacian 4, 8, 26 Perseus 54-56, 60
De Grey 26, 30, 42 Predictive 60 Yandal 26
IGO 26
Develop 62 PVW 50
DGO 26
Killi 50

Page 66

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