New results from the Greatland Gold (LSE:GGP) Haveiron project in Western Australia show further evidence of high-grade gold. 

Farm-in partner Newcrest Mining (ASX:NCM) reported an intercept from infill drilling of 120.7m at 9.3g/t gold and 0.18% copper. 

Other results from the latest set of drill holes across the main target areas include 116m at 2.9g/t from 1136m, including 13m at 13g/t gold and 0.17% copper. 

And a potential new fourth target area, called the “Eastern Breccia” has now been identified. Newcrest’s ongoing campaign at Haveiron identified the zone by growth drilling from two drill holes, Greatland said. 

Three drill holes at this new zone were reported in a 29 October ASX market update called the Newcrest Quarterly Exploration Report.

They show a 14-metre section at 19g/t gold along with 98.2 meters at 1.9g/t gold and 0.14% copper. 

CEO Gervaise Heddle said his company was “delighted” by the drilling results, noting that they “further reinforce the potential for a bulk tonnage mining operation at Haveiron”. 

It’s the latest piece of good fortune for the London miner, which picked up the rights to Haveiron in 2016 through a AUD$750,000 cash and shares deal. Since then, the AIM-listed explorer has attracted a massive retail following. 

The GGP share price has gained 22.5% since the start of September 2020 and is up 1,238% in the year to date. That’s probably because Greatland has on its hands one of the most exciting mineral discoveries in Australia in years. 

Newcrest’s work programme at Haveiron’s continues to expand the project’s footprint, Heddle said, with breccia mineralisation identified “outside of the ovoid-shaped Crescent sulphide zone to the east, north-west and south-east.”

Greatland is now looking to deliver an initial Inferred Mineral Resource estimate for the South East Crescent before the end of 2020. This would give investors an idea of exactly how much gold could be in the company’s grasp underneath the Australian desert. 

The drill results announced on Wednesday represent even better numbers than the best results from the June 2020 update — 109m at 6.3g/t gold. At the time, Heddle told the market these were “outstanding” and “the best results from the project to date”.

Drilling also began in August at Scallywag, a 100% owned property 6 kilometers down the road from Haveiron. Investors are keenly awaiting potential bombshell results from here too. 

Now step-out drilling is set to continue to determine the extent of the mineralised system at Haveiron. 

Greatland discovered significant gold and copper mineralisation through their 2018 exploration drilling campaign, under 400m of cover.  

The spiking Greatland Gold share price really took off in March 2019, when the firm agreed a $65 million farm-in with Australian major Newcrest, with drilling beginning a month later.  To date Newcrest have completed 111,000m of drilling from 120 holes.  

Author: Mark Sheridan

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, does not own a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has not been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article's content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

 

A gold opportunity of epic proportions has opened up in southern Australia.

Beneath the planes of Victoria lie as many as 75 million high-grade ounces of the precious metal, just waiting to be found.

That’s the view of the Geological Survey of Victoria, at least, and the global exploration community has begun to cotton on. After all, plays like this don’t go long unnoticed.

It all started with Kirkland Lake Gold’s (NYSE:KL) Fosterville Gold Project – the world’s highest grade and lowest cost gold mine.

Local media reports that this world-class mining region is reaching “frenzy state”.

Juniors have flocked to Victoria from all over the world hoping to replicate Fosterville’s success. These firms have been aggressively acquiring licenses and commencing drill programmes. In the past 12 months they’ve enjoyed increasingly exceptional results.

It’s not just these smaller firms that have zoned in on Victoria though. Juggernaut miner Newmont (NYSE:NEM) has even staked a vast land package in the region.

Majors like this typically leave exploration to the junior explorers, jumping in when a commercial discovery is made. But with so much high-grade gold and such low mining costs on offer, what’s the point in waiting? Especially when even the locals are even getting involved.

In July last year, one Victoria retiree discovered a 2 kilogram gold nugget worth USD$130,000 armed only with a metal detector and a shovel.

In these goldfields, great riches are everywhere to be found.

And amid this tidal wave of interest, three London-listed exploration companies are among the best placed to seize the Victoria gold opportunity.

Red Rock Resources (LSE:RRR), Power Metal Resources (LSE:POW) and ECR Minerals (LSE:ECR) were the first in London to spot this an enormous opportunity and moved before anyone else could blink.

The three firms staked vast claims in three of the most prospective mining areas in Victoria – Ballarat, Bendigo, and Creswick.

With each company now getting ready to accelerate its plans, the potential for multiple investment returns is tantalising.

Click here to download our exclusive report for a deep dive into the three UK firms working to generate fortunes in Victoria - the world's hottest gold exploration frontier

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article's content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

 

Oriole Resources (LSE:ORR) has raised a whopping £1.869 million to progress two early-stage gold projects in Cameroon. 

On Wednesday, the Africa-focused explorer placed £1.576 million worth of shares at 0.34p, a 15% discount to the previous day’s close. However, given the popularity of the issue, it decided to raise a further £293,000 in a subsequent private raise.  

The placing marks a huge step forward for the AIM-listed company, which currently has a market cap of just £3.6 million.

And adding to the attractive investment case is an experienced management team headed by CEO Tim Livesey, a 30-year industry veteran and former exploration manager for Eurasia at the $47bn market cap Barrick Gold Corp (NYSE:GOLD).

Bibemi and Wapouzé

Oriole said its new funds would be used to support ongoing exploration at Bibemi and Wapouzé, its two recently renewed high-grade gold exploration opportunities in Cameroon.

The centrepiece will be a maiden 3,000m drill programme, and in an update on Thursday Oriole announced that equipment is now being moved on site ahead of a planned Q4 2020 kick-off date.

In the release, Livesey described the programme as “a significant step” for the company, adding:

“We have worked up these targets, with encouraging results from the very beginning, and we are eager to test the vertical extent of the mineralisation identified to date. At Wapouzé the possibility of defining yet further drill targets exists and we hope to develop our understanding of the area during the upcoming field season to allow for a drill programme to be planned there for 2021.”

In total, Bibemi and Wapouzé cover 380km2 of Pan-African greenstone belts in the north-east of Cameroon. Rock chip sampling taken in Q3 2018 across the central Bakassi project area produced exciting grades like 135.4g/t gold, 119.7g/t gold and 117.2g/t gold.

The team is now on the ground, with further targeting underway at the northern end of Bakassi, which remains open along strike. 

Oriole made an important point in a recent RNS, too. Namely, that African exploration is often undervalued by the market at the early stage, with interest rising sharply on the release of news updates throughout drilling campaigns.

This could be highly promising for investors over the coming months once the drill enters the ground in Cameroon.

Along with these two early-stage projects, Oriole also owns the more advanced Senala gold project in Senegal, where $2.3bn Canadian giant Iamgold (NYSE:IAG) has the option to spend $8m to earn a 70% interest.

Meanwhile, its applications for eight further licenses in central Cameroon covering 3,500sq km in highly prospective terrain for gold mineralisation are pending.

And backing all of this up is something that few explorers can boast – a profitable balance sheet.

In its interim half year results to 30 June 2020, Oriole revealed an after-tax profit of £320,000, compared to an after-tax loss of £750,000 across the same period in 2019. 

The company also has several additional interests and options in Africa and Turkey-based companies that could deliver even more cash flow moving forward. 

For example, early October drill results from the Hesdaba epithermal gold project in Djibouti, where Oriole holds a 11.80% interest through Thani Stratex Djibouti, offered quality intersections such as 16m grading 3.84g/t gold. 

With work pushing forward in Cameroon and so much more value in the background, shareholders are now reporting high confidence in the long-term outlook for Oriole’s shares.

Author: Mark Sheridan

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, does not own a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

MiningMaven Ltd, the owner of MiningMaven.com, has not been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and MiningMaven Ltd are not responsible for the article's content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

Power Metal Resources (LSE:POW) and Kavango Resources (LSE:KAV) are to begin exploration on the Kalahari Copper Belt (KCB) in Botswana, where they are targeting a large copper-silver discovery. 

Their 50:50-held KCB Joint Venture operates in a well-known area of newly-discovered sediment-hosted copper deposits that are now being developed as fully-fledged mining operations. 

Chief executive Paul Johnson said the plan is to follow an “efficient, disciplined, and methodical approach” designed to build a geological model of the license area that can be tested swiftly through drilling.  

Exploration will focus on soil sampling and geophysics to identify “dome structures” that are known to host potential copper deposits regionally. The JV will then quickly move on to test drilling of shallow targets. 

Kavango and Power Metal’s licenses, PL036/2020 and PL037/2020, cover 1,294km2 immediately south of Botswana district capital Ghanzi. Here, they are surrounded by several hugely significant copper discoveries made in recent years.