News

Plus, Matador builds a following ahead of scoping study on Newfoundland gold project and Rio chief J-S Jacques still keeping mumm on a maiden resource at its Winu copper-gold find.

It was mentioned here back in May 2017 that a little thing called Draig Resources was out to emulate the success of others in reviving old high-grade WA gold fields by finding new resources at depth or in adjacent locations. Draig had picked up the Bellevue mine to the north-west of Leinster the year before. Discovered in the 1890s, Bellevue came with a production history of 800,000oz at a grade of 15g/t but it produced its last gold in 1998 and was left to slumber until Draig came along.

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A heightened aversion to risk dominates the thinking of most investors as fear of the coronavirus and its impact on the global economy drives money into gold, but if there’s one base metal well placed to ride out this burst of uncertainty it’s Dr Copper.

A heightened aversion to risk dominates the thinking of most investors as fear of the coronavirus and its impact on the global economy drives money into gold, but if there’s one base metal well placed to ride out this burst of uncertainty it’s Dr Copper. That nickname for copper says a lot about the metal itself because it goes to the secret of its success as a commodity with a vast range of uses, from electronics to construction and transport – especially in electric vehicles, which use three-times the amount of copper as conventional vehicles.

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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.

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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).

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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.

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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).

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De Grey Mining  has reported further good news from the exciting new Hemi gold prospect in Western Australia’s Pilbara region, with first RC drilling giving strong geological encouragement and a diamond core rig set to arrive on site later this week (reports MiningNews). The RC drilling that intersected "large sulphide zones on Section B have the potential to significantly increase Hemi's scale", De Grey said.

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A revitalised junior gold exploration sector is enjoying positive investor sentiment and, more importantly, true exploration success (reports Stockhead). This morning’s big announcements come from Bardoc Gold, Oklo Resources, Los Cerros and Arrow Minerals. Bardoc Gold (ASX:BDC) has already bagged up a significant 3.02-million-ounce (moz) gold resource at its namesake project near Kalgoorlie in WA.

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