Lefroy Exploration (ASX: LEX)

Announced progress on the diamond drill program currently underway at the Burns Au-Cu intrusion-related mineral system, located in the Company’s wholly owned Eastern Lefroy Gold Project, 70km SE of Kalgoorlie. 

Diamond hole LEFD008, recently drilled at the Lovejoy prospect, 1.5km north of the Burns gold-copper discovery, has intersected significant copper mineralisation.

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Lafroy Exploration drill crew, Western Australia

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Lefroy Exploration Burns Update: Significant Copper Mineralisation Intersected at Lovejoy

ASX Announcement
20 September 2022

Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to announce progress on the diamond drill program currently underway at the Burns Au-Cu intrusion-related mineral system, located in the Company’s wholly owned Eastern Lefroy Gold Project, 70km southeast of Kalgoorlie.


• Diamond hole LEFD008, recently drilled at the Lovejoy prospect, which is 1.5km north of the Burns gold-copper discovery, has intersected significant copper mineralisation. LEFD008 was drilled to 364m down hole and has intersected:
o A 145m long interval of copper mineralisation between 130m-275m, which contains;
o A 42m length of hydrothermal breccia, which hosts extensive native copper and
copper sulphides from 233m – 275m.
• The intensity of native copper mineralisation in the breccia zone is further demonstrated by copper coating the outside of several steel drill rods from the drill string (see below).
• The breccia and native copper visuals at Lovejoy provide additional evidence that Burns and the surrounding prospects are all part of a very large, copper-gold intrusion related, hydrothermal system.
• LEFD008 samples have been submitted to the lab for priority assay to fast-track results.
• The Company has acted immediately to advance this new discovery, with step-out hole LEFD009 underway.
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Lefroy Exploration Managing Director, Wade Johnson stated;

“Burns is a new and unique style of intrusion-related, gold (Au)-copper (Cu)-molybdenum (Mo)-silver (Ag) mineral system, hosted by Archean age rocks in the Eastern Goldfields Province (EGP) of Western Australia.

“The gold, copper, silver (and lesser molybdenum) mineralisation, which is hosted by multiple diorite-porphyry intrusives and high-magnesium basalt, is considered by the Company to be a new and unique style of gold-copper mineralisation.

“Lefroy is aiming to advance the understanding of the scale and genesis of this system through its current, deep, diamond drilling program. Three holes, LEFD006-008, have now been completed, with a fourth hole, LEFD009, currently underway.“

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To read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Lefroy Exploration.

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Karora Resources Inc. (TSX: KRR)

Announced high-grade drill results from the Larkin Zone as part of its ongoing underground diamond drill program at Beta Hunt.

These included the following intersections:  29.8 g/t over 7.8 metres, 8.7 g/t over 4.0 m, and 4.2 g/t over 6.9 m. 

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Gold in drill core from Beta Hunt mine, Western Australia

Karora Drills Highest Grade Interval To-Date At Beta Hunt’s Larkin Zone Reporting 29.8 G/T Gold Over 7.8 Metres

Karora Resources Inc. (TSX: KRR)

Announced it has received approval from the Toronto Stock Exchange to renew its normal course issuer bid  to purchase up to no more than 8,492,971 of its issued and outstanding common shares.  […] 

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Gold in drill core from Karora Resources’ Beta Hunt mine, Western Australia

Karora Resources Renews Normal Course Issuer Bid

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.TORONTO, July 15, 2022 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce it has received approval from the Toronto Stock Exchange (the “TSX”) to renew its normal course issuer bid (the “Bid”) to purchase up to no more than 8,492,971 of its issued and outstanding common shares (the “Common Shares”).

For brevity, this summary has been redacted, to read the full news release, please click HERE

Cyprium Metals Limited (ASX: CYM)

Announced a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to approximately $26 million before costs.

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The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares at 11.5 cents each.  […] 

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Cyprium Metals – Project locations in Western Australia

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$16M Placement and $10M Entitlement Issue to Support Nifty Copper Project Development

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Cyprium Metals Limited (ASX: CYM) (“CYM”, “Cyprium” or “the Company”) is pleased to announce a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to approximately $26 million before costs.

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The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

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The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

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The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares

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HIGHLIGHTS

• Firm commitments received for a Placement to raise $16M at 11.5 cents per share
• Additional pro rata non-renounceable entitlement offer to raise up to $10M
– 1 new share for every 8 held on the record date at 11.5 cents per share
– Offer will be open to all eligible Cyprium shareholders
• Funds raised will place Cyprium in a strong financial position to continue progressing
the development of the Nifty Copper Project
• Equity raise supports recently announced $50M Offtake Prepayment Facility with
Glencore
• Advanced discussions are continuing with Senior Debt counterparties

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Cyprium Metals management comments

“The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

 

“Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

 

“With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023.”

Cyprium Metals Managing Director Barry Cahill

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To read the full news release, please click HERE

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=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Cyprium Metals, bought in the market at the prevailing price on the day of purchase.

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Calidus Resources Limited (ASX:CAI)

Announced that commissioning is progressing well at its 100% owned Warrawoona Gold Project in the Pilbara of Western Australia.

The SAG Mill is now ready for ore commissioning, and milling will commence by the end of the month with first gold poured approximately 2 weeks later.  […] 

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Calidus Resources Warrawoona mine

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Calidus Resources’ Warrawoona Gold Project Commissioning Update, on track for first ore to be milled in April

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Calidus Resources Limited (ASX:CAI) is pleased to announce that commissioning is progressing well at its 100% owned Warrawoona Gold Project in the Pilbara of Western Australia.

The SAG Mill is now ready for ore commissioning, and milling will commence by the end of the month with first gold poured approximately 2 weeks later.

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Calidus Resources management comments

“Commissioning of the plant by EPC contractor GR Engineering Services Ltd (ASX:GNG) is now well advanced with the SAG Mill, the single largest and most complex piece of equipment ready to go.

 

“We are confident of meeting our April milling timetable which will lead to first gold two weeks thereafter.

 

“Mining contractor Macmahon Holdings Limited (ASX:MAH) has also ramped up activities with the main mining fleet now in operation and 24-hour mining on schedule for later this week ready to supply constant ore flow to the plant.”

Calidus Resources Managing Director Dave Reeves

..

Commissioning and operational preparations to date include:

• 9MW thermal power station commissioned and electrification of all switch
rooms complete;
• Borefields for process water supply are operational and raw water and potable
water services are commissioned in the plant;
• 4.5 MW SAG Mill is ready for ore commissioning;
• Tails thickener is water commissioned;
• Air services are commissioned;
• Major structural steel erection and mechanical installation complete;
• Piping and electrical installation complete, final testing underway;
• Tailings storage facility complete and ready for discharge;
• Operational workforce recruited and mobilised to site to assist with
commission activities;
• All operational procedures, audits, inspections and maintenance management
system have all been implemented, Maintenance and Operational crews have
been on site for some time and training is well advanced;
• All eight 777 (100t) trucks mobilised to site and operational;
• Main excavators now operating, targeting 450,000 BCM movement in May;
• 140,000t of ore on the ROM pad, targeting 200,000t on operational startup;
and
• Additional 20,000 ozs hedged for delivery in 2022 at A$2,688/oz.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds Calidus Resources shares bought in the market at the prevailing price on the days of purchase.

.

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Wiluna Mining (ASX: WMC)

Confirmed the first shipment of their gold concentrate to Polymetal, in Russia!

Wiluna’s ore is double refractory, and Polymetal have a process in their plant is Russia to process this.   […] 

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Comment

N.B. Wiluna is on our recovering stocks watchlist of companies that look undervalued, but have fallen for a reason, normally poor execution. We are monitoring to see if their position improves, as management take action to resolve their issues.

Wiluna has to be the unluckiest company in the past week or so, as their double refractory ore requires specialised processing using a POX system, which thay had duly arranged, and they have just announced they have shipped their first concentrate, to a company based in Siberia, Russia!

One wonders whether the ship will be diverted, or whether it will arrive and the ore processed?  And if that happens, will they receive payment?

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Wiluna Mining confirms first shipment of gold concentrate departed Freemantle  to Russia.

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Wiluna Mining Corporation Limited (“Wiluna”, “WMC” or “the Company”) (ASX: WMC) is pleased to announce that its first shipment of gold in concentrate has departed the Port of Fremantle bound for offtake partner Polymetal International plc (Top 10 gold producer, LSE listed; £5 billion market capitalisation).

Wiluna’s logistics contractor, Qube Bulk delivered the concentrate from Wiluna’s mine via road and rail to their facility at the port of Fremantle where it was loaded onto the ship which left on Sunday 27 February.

WMC can further confirm that the first seven shipments are in the process of being locked in with the second shipment of 20 containers loaded and on its way to Fremantle with an estimated early March departure date.

The third shipment, which will likely be 50 containers, is also confirmed and will be shipped to off-take partner Trafigura. It is due to depart Fremantle in mid-March. This will be the first shipment to Trafigura who, like Polymetal International plc, signed an offtake contract for the first three years of production in a contract announced to the ASX in March 2020.

To date, 2,690 wet tonnes of gold in concentrate, which is the equivalent to ~5,650/oz of gold, has been produced with the ramp-up to full steady-state commercial in progress.
WMC is also pleased to report that the Wiltails tailings retreatment facility that is expected to produce ~15kozpa is 30% complete and expected to be commissioned in Q2 CY’22.

This will make a material difference to Stage 1 production at Wiluna from the date of commissioning.

HIGHLIGHTS

• The first shipment of Wiluna Mining’s gold concentrate departed the port of Fremantle on Sunday 27 February bound for Polymetal’s POX treatment facility
• To date; 2,690 wet tonnes (the equivalent of ~5,650/oz au) of concentrate produced
• WilTails project 30% complete; expected to be commissioned Q2 CY’ 22

For brevity, this summary has been redacted, to read the full news release, please click HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Calidus Resources Limited (ASX: CAI)

Advised that all conditions precedent of the Binding Terms Sheet with Haoma Mining NL for the formation of Pirra Lithium are complete.

Pirra Lithium is owned equally by Calidus Resources and Haoma. […]

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Calidus Resources Pirra Lithium JV map

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Calidus confirms the formation of Pirra Lithium complete – Exploration activity already underway on highly prospective tenements

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Calidus Resources Limited (ASX: CAI) is pleased to advise that all conditions precedent of the Binding Terms Sheet (Agreement) with Haoma Mining NL (Haoma) for the formation of Pirra Lithium are complete.

This follows the execution of the formal mineral rights sharing agreement which governs the grant of the lithium rights to Pirra Lithium under the terms of the Agreement (see ASX announcement dated 18 January 2022, see here).

Pirra Lithium is owned equally by Calidus and Haoma.

Under the terms of the Agreement, Pirra Lithium will be assigned tenements and lithium rights across the most prospective lithium ground in the Calidus and Haoma portfolios.

These tenements and lithium rights cover 1,063sqkm.

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Calidus Resources management comments

“Pirra Lithium’s ground is highly prospective and the partners are eager to see initial exploration results.

 

“This region has not been systematically evaluated for the presence of lithium and associated minerals previously, despite being located in a favourable geological terrain in the Pilbara of Western Australia.

 

“Geological teams are already on the ground actively mapping and exploring the leases
for lithium pegmatites.”

Calidus Managing Director Dave Reeves

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources, bought in the market at the prevailing price on the day of purchase.

.

Bardoc Gold (ASX: BDC)

Reported significant results from recent diamond drilling targeting depth extensions and infill of the multi-lode mineral system at the cornerstone 530koz Zoroastrian Deposit, part of its 100%-owned Bardoc Gold Project near Kalgoorlie in Western Australia.

Recent drilling has intersected new mineralisation, including defining the Bank of England Lode, at depth.

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Bardoc Gold Zoroastrian deposit image.

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Bardoc Gold confirm outstanding high grade drill results from depth at Zoroastrian 

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to report significant results from recent diamond drilling targeting depth extensions and infill of the multi-lode mineral system at the cornerstone 530koz Zoroastrian Deposit, part of its 100%-owned Bardoc Gold Project near Kalgoorlie in Western Australia.

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The recent drilling has intersected new mineralisation, including defining the Bank of England Lode at depth, while in-fill drilling has further defined the known main lodes within the current Resource and Reserves.

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Assays of up to 166g/t Au extend the multi-lode mineralised system below the current
530koz Resource, with in-fill drilling expected to upgrade the Resource classification

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Key Points:
• Recent extensional and infill diamond drilling has successfully intersected the target zones, with results exceeding expectations with assays of up to 166g/t Au.
• The latest results include:
− 7.22m @ 3.45g/t Au from 214.9m including 2.43m @ 7.58g/t Au from 219.69m, and 1m at 33.52g/t including 0.2m at 166g/t Au in KND210009
− 9.62m @ 5.13g/t Au from 199.46m in KND210010
− 4.2m @ 6.08g/t Au from 279.25m in KND210013
− 3.4m @ 7.11g/t from 152.5m in KND210014
− 11.6m @ 3.13g/t Au from 411.4m including 7.24m @ 3.99g/t Au from 415.11m in KND210014
• Drilling delineates an extension to the Bank of England footwall lode at depth, currently not included in underground Resources.
• The current Ore Reserve at Zoroastrian is 98koz Au and is based on mining only three of the multiple lodes present, excluding Bank of England. The total Mineral Resource at Zoroastrian is 7.5Mt @ 2.2g/t Au for 530koz Au.
• The results, including in-fill drilling to improve Resource confidence, will be used to update the Zoroastrian Mineral Resource Estimate.

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The Bardoc Gold Project has Ore Reserves of 1Moz within a total Resource of 3.07Moz.

This recent phase of drilling was targeted at areas of the Mineral Resource model that are classified as Inferred. The aim is to upgrade the Inferred material to Indicated classification to allow it to be included in future Ore Reserves after Mineral Resource Estimates and mining studies are completed.

The high-grade results returned at depth confirm significant upside at the Zoroastrian Deposit, demonstrating that the multi-lode system extends well below the current Mineral Resource boundaries.

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Bardoc Gold management comments

“This important drilling program has not only increased our confidence in the Zoroastrian South Lode – paving the way to upgrade Inferred ounces to the higher-confidence Indicated category, it has also vindicated our belief that Zoroastrian is capable of delivering additional high-grade ounces over the longer term.

“Opportunities to work on close-spaced, multi-lode deposits such as Zoroastrian are hard to find in today’s investment climate – and the Blueys South, Zoroastrian South and Bank of England Lodes are essentially unmined, providing significant long-term upside over the life of mine.

“It is quite likely that the Bank of England Lode will be similar in both grade and width to the Blueys South and Zoroastrian South Lodes once we have an opportunity to further test the lode position within the fractionated dolerite.

“These are important results which reinforce the huge upside that we see across the Bardoc Gold Project.”

Bardoc Executive Director Neil Biddle 

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the poster holds shares in Bardoc Gold, bought in the market at the price prevailing on the days of purchase.

Apollo Consolidated (ASX: AOP)

Assay results from continued metallurgical diamond drilling confirm excellent grade and width continuity and further strong validation of the April 2021 Mineral Resource estimate block model.

Drill holes at Duke and Duchess were sited on infill drill sections and demonstrated the robust nature of mineralised structures in the areas tested.

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Apollo Consolidated Lake Rebecca project map

Apollo Consolidated – Metallurgical drilling outlines robust gold zones at Lake Rebecca Project

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Apollo Consolidated (ASX: AOP) Assay results from continued metallurgical diamond drilling confirm excellent grade and width continuity and further strong validation of the April 2021 Mineral Resource estimate block model.

Drill holes at Duke and Duchess were sited on infill drill sections and demonstrated the robust nature of mineralised structures in the areas tested.

Highlights:

Assay results from continued metallurgical diamond drilling confirm excellent grade and width continuity and further strong validation of the April 2021 Mineral Resource estimate block model.

Significant gold results included:

™ 32m @ 1.56g/t Au & 30m @ 1.47g/t Au in MET001 at Duchess deposit
™ 66m @ 1.03g/t Au & 22m @ 1.35g/t Au in MET002 at Duchess deposit
™ 97m @ 1.85g/t Au (including 1m @ 25.4g/t Au and 1m @ 12.5g/t Au) in MET003 at Duke deposit
™ 22.8m @ 1.43g/t Au, 19m @ 1.16g/t Au & 11m @ 1.20g/t Au in MET005 at Rebecca deposit
™ 20.8m @ 2.35g/t Au (incl. 1m @ 17.3g/t Au) & 17m @ 1.27g/t Au in MET006 at Rebecca deposit

Drill holes at Duke and Duchess were sited on infill drill sections and demonstrate the robust nature of mineralised structures in the areas tested.

Drill holes at Rebecca were designed to collect bulk composite material from the moderate grade Laura and Maddy mineralised structures.

Coarse visible gold logged in MET001 within a zone of massive sulphide veining (assayed 9m @ 2.24g/t Au) pointing to a potential new style of higher-grade mineralisation at this deposit.

• Next stages of metallurgical test work now underway.
• RC and diamond exploration drilling continues, working through a selection of high potential value-add exploration, resource-definition, and step-down targets.

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Apollo Consolidated Limited – Metallurgical diamond drilling

Assay results have been returned for remaining HQ diameter diamond drill holes at Apollo’s 100%-owned Lake Rebecca Gold Project located 150km east of Kalgoorlie in Western Australia, following the reporting of MET004 last month.

Remaining drill holes targeted mineralised structures typical of the average Mineral Resource estimate1 grade and have provided bulk composite material for continued metallurgical studies.

The drilling was also designed to add geological information between existing drill sections.

The Company is pleased to report excellent width and grade continuity in the areas tested and a strong validation of the April 2021 Mineral Resource estimate1 block model.

Drill hole MET001 at the 195,000oz Duchess deposit was drilled on a 20m spaced infill line and intersected 32m @ 1.56g/t Au from 25m, 30m @ 1.47g/t Au from 61m, 16m @ 0.97g/t Au from 98m and 16m @ 0.90g/t Au from 118m.

A zone of massive sulphide veining in the footwall to the main structure returned 9m @ 2.24g/t Au from 136m, including a section of core showing coarse visible gold grains.

This style of gold mineralisation has not been logged before at this prospect and raises the possibility of a new style of gold mineralisation and the use of downhole EM tools to target vein extensions.

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To read the full news release, please click HERE

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=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Apollo Consolidated, bought in the market at the prevailing price on the day of purchase.

.