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Coventry Resources
Chief Executive Officer: Michael Haynes
Project: Caribou Dome
Commodity: Copper
Location: Alaska, 250km NE Anchorage
Coventry Resources has intersected thick, massive sulphide mineralisation, comprising predominantly chalcopyrite and pyrite in all five diamond core drill holes completed to date at the highly prospective Caribou Dome project in Alaska, United States.
Significantly, the two most recent holes – drilled to evaluate the previously untested bedrock beneath 200m of outcropping copper mineralisation at Lense 2 – have intersected considerable thicknesses of massive sulphide mineralisation.
The company said it had discovered substantial primary mineralisation at Lense 2, with CD15â€Â04 intersecting 9m of semiâ€Âmassive-to-massive sulphide mineralisation; and CD15â€Â05 intersecting 12m of predominantly massive sulphide mineralisation. Assay results were imminent at the time of writing.
Three confirmation drill holes have also been completed to date: CD15â€Â01 intersected 16m of mineralisation over two intervals at Lense 6; CD15â€Â02 intersected 10m of semiâ€Âmassive-to-massive sulphide mineralisation at Lense 6; and CD15â€Â03 intersected multiple horizons of sulphide mineralisation over a total of 20m at Lense 4.
Sovereign Gold
Managing Director: Simon Bird
Project: Mt Adrah
Commodity: Gold
Location: NSW, 20km NW Adelong
Sovereign Gold has kicked-off a diamond drilling program on the Rocky River intrusion-related gold system, which features multiple gold-bearing structures within the company’s Mt Adrah project area.
Previous drilling has revealed both narrow high grade and wide gold mineralisation that includes Martins Shaft intersections 22m at 3.2gpt Au from 18m, including 10m at 6.1gpt Au and 2m at 18.9gpt Au.
The drilling program was fully-funded externally, with $65,000 granted by the NSW government and the balance by the company’s Chinese partners SUGEC.
Following analysis of 4,800 soil samples from the 8.2sq.km soil survey, multiple drill targets were identified including several historical mines and some newly discovered areas with anomalous mineralisation.
Ventnor Resources
Managing Director: Bruce Maluish
Project: Black Dragon
Commodity: Gold
Location: WA, 370km NE Kalgoorlie
Australian base metals company Ventnor Resources has received approval from the WA government for its proposed drilling campaign at the Black Dragon gold project in the Eastern Goldfields.
Black Dragon is 22km northeast of AngloGold Ashanti and Independence Group’s Tropicana gold mine – a project with more than 7Moz of gold in resources. The drill program will follow up initial field work which mapped and sampled outcropping quartz veins and indicated very high grade gold rock chip assays.
Assays on the rock chips returned high-grade results for gold, silver and tellurium including 64gpt Au, 38gpt Ag and 7 ppm Te; 568gpt Au, 585gpt Ag and 462 ppm Te; 213gpt Au, 304gpt Ag and 219 ppm Te; 70gpt Au, 143gpt Ag and 87 ppm Te; and 626gpt Au, 154gpt Ag and 651 ppm Te.
Ventnor raised $597,072 through a share placement in late June that will enable drilling at Black Dragon to commence later this month, which will be shallow and close-spaced to determine the near surface strike, dip and plunge of the prospect.
Tychean Resources
Managing Director: Joe Houldsworth
Project: Spargoville
Commodity: Gold
Location: WA, 50km S Kalgoorlie
Tychean Resources has got all result backs from the recently completed RC and diamond drilling completed at the Redback prospect within its Spargoville project, where the company drilled nine holes for 1,932m.
The best intersection was 1m at 42.8gpt Au from 208m (SPDT016), which was returned from the Footwall Felsic Zone. A similar zone was intersected within previous RC drilling which returned 1m at 10.2gpt Au from 179m (SPRC094).
From drill core logging and core photos, the gold mineralisation within SPDT016 is interpreted to be associated with discrete joints or fractures within the felsic unit. High grade mineralisation continues to be returned from the Eastern Zone highlighted by results of 1m at 7.19gpt Au from 245m (SPDT015); 6m at 2.85gpt Au from 314m, including 1m at 7.67gpt Au from 315m (SPDT018); and 1m at 13.3gpt Au from 293m SPDT019).
Significantly, the above results are also associated with moderate to strong biotite and/or chlorite alteration. The Redback Prospect, Eastern Zone mineralisation in the south is interpreted to display geological, structural and grade characteristics comparable to that of the high grade Eastern Zone mined at Wattle Dam, 700m to the northwest.
