Drilling by Gateway Mining (ASX: GML) at its flagship Gidgee gold project in Western Australia has identified four new regional gold corridors outside of the main Montague Granodiorite trend which hosts its existing gold resources (reports Small Caps).
Recent air-core drilling has intersected 5m at 10.4g/t gold from 52m at the Flametree prospect, with the mineralisation remaining open in all directions.
A regional assessment and geological review identified the highly-prospective corridors over a cumulative strike length of approximately 20km.
China's biggest steel maker has created a special hydrogen project in an effort to accelerate the transition away from the sort of carbon-intensive coking coal exported by Australia (reports The Australian Financial Review).
Upgrades to gold price assumptions have resulted in big target price increases for Australian gold miners (reports MiningNews).
Argonaut Securities lifted its 2020 average gold price forecast from US$1400 an ounce to $1575/oz and its long-term price from $1300/oz to $1425/oz.
Canaccord Genuity is much more bullish, lifting its 2020 forecast by 9.1% to $1682/oz and its long-term target by 9.6% to $1787/oz.
Both firms boosted price targets for ASX-listed producers, in line with the higher forecasts.
Exceptionally high-grade grades have been heralded by Stavely Minerals
Exceptionally high-grade grades have been heralded by Stavely Minerals, with the company claiming the latest assays from Victoria’s Thursday’s Gossan prospect continue to support an exciting shallow resource in the Cayley Lode (reports MiningNews).
The latest diamond hole, 20m north-west of September's discovery hole, returned 1m at 26.9% copper, 8.48 grams per tonne gold and 201 grams per tonne silver within, 8m at 5.12% copper, 1.48gpt gold and 34.3gpt silver from 121m.
The exploration spotlight swings back on to Stavely Minerals (ASX:SVY) in coming days with the expected release of latest drill results from its Thursday’s Gossan copper-gold discovery in the Stavely volcanic belt in western Victoria (reports Barry FitzGerald on Stockhead).
Bellevue Gold has reported a maiden resource for the Deacon Lode, which has taken the total resource for its namesake project to 2.2 million ounces of gold (reports MiningNews).
Deacon has a maiden resource of 410,000 ounces at 12.3 grams per tonne gold.
The resource beat Canaccord Genuity analyst Tim McCormack's estimate of 250,000-350,000oz at 8-10gpt.
The resource only covers 900m of the identified 2000m strike length.
Mineralisation remains open in all directions with high-grade hits of up to 23gpt gold already received from outside the resource.
When the new boss of BHP identified nickel in WA as a key focus for the world’s biggest miner this week, it was music to the ears of a handful of mid-tier and smaller players involved in the space (reports The West Australian).