PolarX (ASX:PXX) has uncovered evidence that the Mars prospect within its Alaska Range project could host a very large mineralised system after its first hole intersected more than 400m of porphyry‐style veins and ended in mineralisation (reports Stockhead).
Significantly, the veins contained visible iron, copper and molybdenum sulphides from near surface to the end of hole.
The company added there is a notable increase in visible copper and molybdenum sulphide abundance from a depth of about 321m to the end of hole at 417m.
DevEx Resources (ASX:DEV) has kicked off a drilling program at its Bogong copper-gold project in NSW to follow up on historical copper intercepts of up to 54.9m at 1.1 per cent copper from just 6.1m and 9.2m at 2 per cent copper from 39.6m (reports Stockhead).
Drilling will also test a new induced polarisation anomaly beneath these historical hits.
Junior gold developer Genesis Minerals (ASX: GMD) could be on the radar of several bigger gold miners for either toll-treatment or M&A opportunities, as consolidation activity continues to hot up in the junior gold space (reports Stockhead).
That’s the view of leading Perth-based resource analyst James Wilson from Argonaut Securities, who says the strategic location, grade and exploration upside of the company’s flagship 760,000oz Ulysses deposit near Leonora in WA make it an “appealing” M&A target.
Millennium Minerals has convinced its major shareholder, IMC Group, to grant a A$7.5 million extension to May‘s $20 million loan facility to provide a buffer as it seeks to overcome delays leading to lower than expected production and further development of its Nullagine old project (reports MiningNews).
However, delays in the approvals for the Crow and Condor pit extensions the high-grade Golden Gate mining centre mean 2019 guidance was revised down from 80,000-90,000oz to 70,000-75,000oz last month.
Matterhorn Asset Management founder and managing partner Egon von Greyerz says the current “mess in the world” is unsustainable, which is good news for gold (reports MiningNews).
Matterhorn owns the world's largest private gold vault in Switzerland.
Von Greyerz prefaced his keynote presentation to the Gold and Alternative Investments Conference in Sydney today by saying he wasn't a gold bug.
"I'm not a gold bug, I just measure risk," he said.
"I think we're looking at the greatest risk ever in history."
Sunstone Metals' drilling at the Limon prospect in Ecuador has interested more shallow mineralisation, with a 59m-thick mineralised blanket grading 0.16% copper, including 13.3m at 0.43% copper and 0.11 grams per tonne gold from 58m, providing more evidence of a major porphyry source , albeit expected to be deeper than expected at more than 500m below the surface (reports MiningNews).
The managing director of an Australian nickel company has talked up the potential value of electric-vehicles – both as a market and part of a new mine fleet – in its plans to restart production at its Kambalda sulphide-nickel hub in Western Australia, at a conference in Perth (reports Mining Journal).