QEM boosts Julia Creek’s vanadium resource

QEM (ASX:QEM) has increased the size and grade of its Julia Creek Vanadium deposit in Queensland, by 28% to 461 million tonnes. 

Privately held Measured Group conducted an independent geology and resource estimate which detailed a current estimated mineral resource at Julia Creek of 2,870Mt vanadium bearing ore at an average V205 content of 0.31%.

QEM, which has a market capitalisation of $22.70 million, says that it is possible for additional by-products, other than vanadium and crude oil, could be produced as part of the vanadium processing which could have a ‘positive’ impact on revenue assumption. 

These additional by-products include base metals, copper, molybdenum, nickel, zinc, aluminium, and cement, as well as high-purity alumina which has been identified as an opportunity for further investigation. 

Managing Director Gavin Loyden says this resource upgrade comes at an ‘optimal’ time, enabling the company to integrate new findings into its Scoping Study that is scheduled to be released in Q2 2024. 

“We’ve substantially bolstered the confidence level in both our vanadium and oil shale resource bases, propelling us towards realising our ambition of developing Australia’s critical minerals resources and delivering innovative energy solutions which will help Australia with meeting its own energy transition targets.”

QEM is an explorer and developer focused on its flagship Julia Creek Project that covers a 250km-square area in northwest Queensland, Australia. 

As of 31 December 2023, the company had $281,000 cash and cash equivalents at hand, according to its latest quarterly report. 

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Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Adelong Gold increases South American footprint

Adelong Gold (ASX:ADG) has been granted 10 exploration permits covering 162.8km-square in the Paraiba province of Northeastern Brazil. 

The granted licences represent 2 areas 82km apart, with area one comprising 2 licences covering 11.31km-square, rated as ‘highly prospective’ for lithium pegmatites and surrounded by permits granted for beryl and tantalum. 

Adelong Gold also reports today (4 March 2024) it has been placed in a trading halt, pending an announcement release. The company expects to begin normal trading on 6 March. 

Adelong says its Brazilian field team is currently planning an initial reconnaissance program which is expected to kick off shortly. The program aims to facilitate a more focused exploration program in 2024. 

The company adds that it is continuing to assess other areas of interest within Brazil. 

These licences are considered prospective for lithium pegmatites and lie within the Borborema region that host plutonic intrusions similar to the ‘lithium valley’ region of Minas Gerais.

In 2023, the CPRM-Serviço Geológico do Brasil published a report and extensive geological and geophysical data highlighting areas within the Borborema area and providing an excellent data set to allow exploration to target areas of interest.

Adelong Gold is a mineral explorer that owns its namesake gold mine in New South Wales and a ‘highly prospective’ lithium tenement package in Minas Gerais, Brazil. 

As of 31 December 2023, the company had $528,000 cash and cash equivalents at hand, according to its latest quarterly report. 

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Tivan work to translate into Sandover exploration hypotheses

Tivan (ASX:TVN) is planning to implement further work at the Sandover Project in the Northern Territory, upon identifying a new ‘high-grade’ lead target via a surface sampling program by exploration alliance partner Earth Artificial Intelligence (AI). 

Consistent with Earth AI’s exploration process, Tivan, which has a market capitalisation of $91.22 million, is planning to conduct a detailed geological mapping and surface sampling program. 

Results from this work will translate into exploration hypotheses followed to be tested by a maiden drilling program. 

Tivan plans to kick off drilling in Q2 2024, subject to the relevant approvals and agreements. 

Executive Chairman Grant Wilson says the company is ‘delighted’ to have made a potentially historic discovery. 

“It showcases the transformative impact that we expect AI-driven exploration will have, particularly across vast areas such as Sandover. 

The prospect of building a major project near Alice was my central motivation in taking on the leadership of this company in late 2022. With this find, we may have come full circle.”

Tivan reports initial assay results from work conducted by Earth AI returned 12.2% lead. 

The ‘high-grade’ mineralisation at the surface is a ‘rare’ discovery in modern day exploration and suggests the presence of a shallow ore deposit. 

Sandover lies 100km north of Alice Springs and covers an 8,000km-square area. 

During March 2023, Tivan and Earth AI entered into an exploration alliance agreement to advance exploration work at the project under a success-based model providing access to innovative AI capability for targeting and testing. 

Tivan is a critical minerals explorer focused on exploring for vanadium, titanium, and iron. 

As of 31 December 2023, the company had $2.861 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Arrow Minerals points out Simandou North’s hematite presence

Arrow Minerals (ASX:AMD) has confirmed the presence of hematite and other iron oxide minerals via geological logging at its Simandou North Iron Project in West Africa. 

The $40.10 million market capitalisation company is ‘highly encouraged’ by the geology identified in the first 4 out of the 50 holes planned, but chemical analyses are yet to be completed by ALS Global laboratories. 

Managing Director David Flanagan says receiving such ‘excellent’ geological indications in such a short time provides valuable information to support developing an exploration model and follow-up drillholes. 

The results are expected to be returned during the June quarter. 

Flanagan says: “Given there is 40km strike of targets yet to drill, we are confident we will have many quality prospects. Of particular interest are the intercepts in DALDDH006 that feature what appears to be hydrothermal iron mineralisation. 

This is regionally important in producing high-grade iron ore deposits to our south at the giant Simandou Iron project.”

A second drill rig has arrived on site and plans to begin drilling soon. 

Arrow Minerals is a mineral explorer focused on iron ore deposits in Guinea, West Africa. 

As of 31 December 2023, the company had $699,000 cash and cash equivalents at hand, according to its latest quarterly report. 

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Norwest eyes more targets across West Arunta

Norwest Minerals (ASX:NWM) has uncovered 31 new critical mineral targets across its West Arunta tenure package in Western Australia, via a new geophysical interpretation. 

The targets have the potential for mineral deposits including carbonatite, iron oxide copper gold (IOCG), and rare earth elements (REEs). 

Norwest, which has a market capitalisation of $10.61 million, matched the new geophysical target occurrences to critical mineral anomalies identified from recent analysis of 13,000-plus fine-traction soils collected in 2021-2022, which seemed to be ‘very encouraging’. 

The company contracted Atlas Geophysics to conduct a gravity ground survey across its key target areas, which is expected to begin in 4 weeks. 

Chief Executive Officer (CEO) Charles Schaus says the new results provide further validation of the prospectivity West Arunta holds for a ‘major’ critical mineral discovery. 

“Importantly, many of the high priority targets are located within tenement E80/5031 where Norwest undertook a large heritage study late last year. 

Thus, this area is drill ready with only the gravity survey required to finalise drillhole positions. Next month Atlas Geophysics will commence Norwest’s maiden gravity survey across its West Arunta critical mineral targets including tenement E80/5031 and tenement E80/5846 located just south of the Luni discovery.”

The West Arunta project covers a 1,560km-square area and extends over 100km west from the Western Australia and Northern Territory state border. 

Norwest Minerals is a Western Australian-focused mineral explorer with assets considered prospective for rare earths, copper, gold, and base metals. 

As of 31 December 2023, the company had $447,000 cash and cash equivalents at hand, according to its latest quarterly report. 

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Australian Critical Minerals to test Cooletha’s prospectivity

Australian Critical Minerals (ASX:ACM) is planning to conduct a reverse circulation (RC) drilling program at its Cooletha Project in Western Australia after recent work highlighted the area’s lithium prospectivity. 

The company says the drilling will test the most prospective surface geochemical anomalism at Cooletha. 

Meanwhile, Australian Critical Minerals is working to advance its exploration efforts over the areas within the Cooletha and Shaw projects, which are considered prospective for channel iron deposits and banded iron formation. 

The company also announced today (1 March 2024) that it had completed rock sampling reconnaissance and field checking to further develop the scale potential of Cooletha’s pegmatite fields. 

Results from 169 rock samples have enhanced the company’s geological understanding of the project and confirmed the presence of pegmatite fields. 

These newly recognised fields lie in and adjacent to areas uncovered by Australian Critical Minerals’ Cooletha Integrated Multispectral Interpretation Study. 

Managing Director Dean de Largie says the observations from the sampling program provide more information to support the geological exploration model being developed at Cooletha. 

“The model we have developed indicates that within ACM’s Cooletha project, the subdued topography between outcropping silica ridges represents the weathered inner zones of pegmatite intrusions. 

These localised subdued areas have encouraging geological characteristics, including pegmatitic material within muscovite-rich soils. These pegmatitic soils will form one of the turrets of the next phase of work at Cooletha.”

“The model we have developed indicates that within ACM’s Cooletha project, the subdued topography between outcropping silica ridges represents the weathered inner zones of pegmatite intrusions”

Australian Critical Minerals says multiple targets within the project area need ground truthing and/or assessment, with a regional 1km-by-0.5km soil grid program planned to further delineate the extents of the pegmatite fields. 

The company is now planning to implement this program across the Goldilocks Zone to uncover and rank anomalous Cooletha pegmatite field targets, as well as infill anomalous soil results with a close-spaced sampling program on a 100m by 50m grid. 

Upon completing this work, the company will conduct a thorough geochemical analysis of the soil and rock chip samples from any exposed pegmatites. 

Cooletha is the company’s flagship lithium project and covers more than 100km-square of lithium prospectivity in the Pilbara lithium district. 

Australian Critical Minerals is a mineral explorer focused on its critical mineral assets in Western Australia. 

As of 31 December 2023, the company had $3.258 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Fold Zone drilling exceeds Hawsons’ expectations

Follow-up drilling has exceeded Hawsons Iron’s (ASX:HIO) expectations for the Fold Zone area within its namesake project in New South Wales. 

The $30.32 million market capitalisation company says the results confirm the potential to improve Hawson’s economics, early cash flow, and support discussions with strategic investors on funding a Bankable Feasibility Study (BFS).

Managing Director Bryan Granzien says drilling confirmed the presence of mineable widths of ‘higher grade’ mineralisation above the base of oxidation, which supports a change in mining strategy to shorten Hawson’s ramp-up period to full production. 

“The drilling program had achieved the objective of defining shallow higher grade mineralisation, within the southern part of the latest pit shell design which would improve the project’s economics.”

Privately held H&S Consultants correlated results from existing geological modelling with further ground magnetic survey data to generate an enhanced 3D model of the Fold Zone’s mineralisation. 

Granzien says: “We’ve been able to use the newly reinterpreted ground magnetic data to improve our geological interpretation for the Fold area and accurately identify zones of higher grade, near-surface magnetic material for further resource estimation drilling.”

A total of 21 reverse circulation holes for 2,978m were completed at the Fold area. 

Hawsons Iron is an iron ore explorer focused on its flagship namesake project near Broken Hill in New South Wales. 

As of 31 December 2023, the company had $3.192 million cash and cash equivalents at hand, according to its latest quarterly report.

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Mandrake confirms Utah’s uranium prospectivity

Mandrake Resources (ASX:MAN) has confirmed the uranium prospectivity within its Utah Lithium Project in Utah, via preliminary field work and rock chip sampling. 

The $23.39 million market capitalisation company reports initial results from the activities returned ‘consistent, significant’ concentrations of uranium, with up to 0.55% triuranium octoxide (U3O8). 

Managing Director James Allchurch says the results confirm ‘high-grade’ uranium mineralisation and provide impetus for the work undertaken in compiling and assessing petrophysical data from oil oil and gas wells across the project. 

“Interrogation of the 3D seismic and the petrophysical wellbore data is seeking to identify significant uranium mineralisation in the sub surface. 

Despite the downbeat lithium sector, Mandrake continues to advance the lithium brine asset and I look forward to presenting the JORC-compliant lithium exploration target shortly, along with other related material developments.”

A total of 6 samples were collected and submitted to ALS Global’s laboratory in Reno, Nevada for analysis. Mandrake expects results to be returned in March 2024. 

The Utah project covers a 93,755 acre area in the Lisbon Valley of Utah. 

Mandrake Resources is a diversified mineral explorer focused on lithium, nickel, copper, platinum group elements, uranium, and gold. 

As of 31 December 2023, the company had $15.3 million cash at hand, according to its latest quarterly report. 

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Brightstar to take off with Menzies drilling

Brightstar Resources (ASX:BTR) is in the final stages of planning its 5,000m reverse circulation (RC) drilling program at the Menzies Gold Project in Western Australia. 

The $28.44 million market capitalisation company says drilling has focused on resource confidence upgrades, as part of a Prefeasibility Study (PFS). 

Further, mining operations have concluded at the Selkirk deposit within the Menzies project, with all ex-pit material movement completed ahead of mine site rehabilitation in the coming weeks. 

Managing Director Alex Rovira says: “Our joint venture with BML Ventures has been conducted in a safe, productive, and professional manner with gold revenues to be split on a 50/50 basis after project cost reconciliations. 

The JV budget utilised a conservative gold price of $2,850 per ounce, compared to the current spot price of +$3,100 per ounce which will provide financial upside to the joint venture. 

We continue to advance the Link Zone deposits at Menzies as a potential additional small scale mining campaign at Menzies that can be executed contemporaneously with the exploration and development workstreams. 

Open pit optimisations are currently ongoing in parallel with relevant permitting and approval processes for potential expedited development. 

We look forward to sharing news of Brightstar’s inaugural gold pour in March and further activities related to our Prefeasibility Study as they occur, including an RC program to commence at Menzies in the near future.”

Mine site rehabilitation has begun with the Selkirk waste rock dump being shaped and contoured ahead of topsoil and seed placement in line with industry best practices, with demobilisation of BML’s mining fleet to occur progressively, in conjunction with rehabilitation activities. 

Brightstar Resources is a Perth-based gold explorer and developer focused on its assets across Australia. 

As of 31 December 2023, the company had $4.817 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Turaco Gold secures majority Afema stake

Turaco Gold (ASX:TCG) has secured ministerial approval for the acquisition of an initial 51% of the Afema Gold Project in Cote d’Ivoire, from multinational mining company Endeavour Mining (TSE:EDV). 

The country’s Minister of Mines, Petroleum and Energy agreed to extend the existing mining convention that supports the granted mining permit, making up 227km-square of the total 1,267km-square project area. 

This provides Turaco with a 3-year period to conduct a new Feasibility Study. 

Turaco, which has a market capitalisation of $70.57 million, will now complete the Afema acquisition with customary conditions including share transfer, and appointing Turaco nominees as directors to the project and holding companies. 

On completion, Turaco will issue 46.5 million shares to Endeavour, resulting in a US$1.5 million payment. 

Managing Director Justin Tremain says this is the start of an ‘exciting’ period for the project as it is rapidly advancing this project in West Africa’s premier jurisdiction. 

“Field preparation is already advanced with drilling to commence in the coming days. We expect to have 2 drill rigs turning by mid March 2024.”

In January 2024, the company’s team relocated to the Afema exploration company to facilitate community introductions, camp refurbishment, drill site preparations, and begin geochemical sampling. 

A 3,500m diamond core drilling contract has been signed, with the rig expected to mobilise to site next week. 

Further, a 10,000m reverse circulation drilling contact is expected to be awarded this week with JORC resource drilling anticipated to begin at the Woulo Woulo discovery within the next 2-3 weeks. 

Drill core samples from Woulo Woulo have been expired and received in Perth. Metallurgical testing is currently underway. 

Turaco Gold is a gold-focused explorer with a ‘highly prospective’ Birimian greenstone terrain tenement package proximal to ‘major’ mines and discoveries. 

As of 31 December 2023, the company had $8.067 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Warriedar Resources focuses back on Ricciardo

Warriedar Resources (ASX:WA8) says it is focusing on its Ricciardo deposit in Western Australia for 2024 and is kicking off with a 3,000m reverse circulation drilling program.

Drilling aims to extend the known ‘high-grade’ shoots, test for interpreted / new shoots, as well as improve the confidence of Ricciardo’s existing mineral resource, alongside evaluate early mining potential via cutback of existing pits. 

The mineralisation at Ricciardo consists of a series of shoots, which remain open at depth and along strike. 

Warriedar, which has a market capitalisation of $15.45 million, is also planning a follow-up diamond drilling program at Ricciardo for further extensional and geotechnical testing purposes.  

Ricciardo’s existing Mineral Resource Estimate (MRE) of 8.7 million tonnes @ 1.7 grams per tonne gold for 476,000 ounces of contained gold. 

Warriedar Resources is an advanced gold and copper explorer focused on its assets in Western Australia and Nevada, US.

As of 31 December 2023, the company had $3.220 million cash at hand and zero debt, according to its latest quarterly report. 

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Argent finds potential Kempfield feedstock

Argent Minerals (ASX:ARD) says it’s Golden Wattle and Scabben Flat deposits can be potentially ‘valuable’ feedstocks for a future processing plant at its Kempfield Polymetallic Project in New South Wales. 

The $11.62 million market capitalisation company has received rock chip sampling assays that confirm ‘extensive’ gold, silver, and lead mineralisation over both prospects. 

Managing Director Pedro Kastellorizos says the ‘high-grade’ rock chips returned are hosted within metasedimentary and volcanic rocks over the prospects’ flat zone area. 

“The gold-silver-lead mineralisation now extends over 2,000m in length by 50m in width based on the 2024 geochemical assay results. Based on the surging gold prices, the aim is to discover and delineate deposits containing more than 100,000 ounces of gold. 

These deposits can be potentially valuable feedstock for the future processing plant at the Kempfield Polymetallic Project.”

Argent reports rock chip assays returned up to 73.5 grams per tonne (g/t) gold (Au), 16.2g/t silver (Ag), and 1.84% lead (Pb). 

The wholly owned Kempfield project has a mineral resource of 38.9 million tonnes and 127.5 million ounces of silver equivalent contained metal. 

Argent Minerals is a mineral explorer focused on the discovery, extraction, and marketing of precious and base metals in Australia. 

As of 31 December 2023, the company had $1.976 million cash at hand, according to its latest quarterly report. 

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Artemis boosts Paterson Project’s potential

Artemis Resources (ASX:ARV) has identified a new priority target, namely Apollo North, within its Paterson Gold Project in Western Australia, upon conducting a detailed strategic review. 

The priority target was uncovered by a single station gravity anomaly and sits 2.5km from the Apollo prospect.

Artemis, which has a market capitalisation of $27 million, says the target sits within the prospective structural corridor, with a discrete gravity anomaly. The depth of cover is unknown but represents a walk-up target that requires further exploration work. 

Executive Director George Ventouras says Paterson is a ‘unique’ greenfields exploration opportunity and previous work conducted paired with additional work will help unlock further potential mineralisation. 

“While exploring at depth requires additional resources and capital, as can be seen from the nearby Havieron discovery, the upside may be considerable. I am excited by the potential that the Paterson Project holds and we are looking forward to advancing the project with a partner.”

The review is being undertaken with the aim of establishing a development pathway for Paterson.  

Further, Artemis is considering options to advance the project, including joint ventures and third party funding. 

The Paterson project covers a 605km-square area and lies 450km east of Port Hedland in the Great Sandy Desert. 

Artemis Resources is a gold, copper, and lithium-focused explorer with assets across Western Australia. 

As of 31 December 2023, the company had $1.560 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Astral validates Kamperman’s ‘high-grade’ potential

Astral Resources (ASX:AAR) has further confirmed the ‘high-grade’ potential of the Kamperman prospect, as part of the Feysville Project in Western Australia, after receiving assay results from a recent drill program. 

The $48.37 million market capitalisation company says at the Kamperman discovery, gold intercepts are routinely ‘high-grade’ with ‘significant’ gold occurrences of coarse gold observed in early drilling. 

According to Astral, previously identified targets combined with the existing mineral resources on the project the project has potential to contribute ‘significant’ future ‘high-grade’ ore sources to the greater Mandilla project, subject to ongoing development studies. 

During the March quarter, the company conducted a 3-hole for 217m reverse circulation (RC) drill program, with hole FRC263 returning 7m @ 5.81 grams per tonne gold from 19m, including 2m @ 12.3g/t Au from 19m. 

Managing Director Marc Ducler says upon completing an aircore drill program in January, the same rig was converted to an RC configuration to assist with the company’s interpretation and modelling of the recent ‘high-grade’ Kamperman discovery. 

“This 3-hole program yielded high-grade assay results in every hole, further reinforcing the exceptional high-grade potential at Kamperman.”

Upon completing the RC program, a follow-up RC infill and extensional drilling program was completed within Feysville. 

Drilling was aimed to link and further extend the known mineralised corridor at Kamperman, as well as further investigate the potential for multiple mineralisation styles within the prospect.

Ducler says: “A follow-up 2,459m RC program was immediately completed at Kamperman with assay results expected later this quarter as we continue to unlock the potential of this growing prospect which we have increasing confidence can contribute potential future high-grade satellite ore feed to our broader Mandilla Gold Project development.”

The Feysville Gold Project lies within the north-north-west trending Norseman-Wiluna Greenstone Belt in Western Australia, which hosts a Mineral Resource Estimate (MRE) of 3 million tonnes @ 1.3g/t Au for 116,000 ounces of contained gold at the Think Big deposit. 

Astral Resources is a Perth-based gold and base metals explorer focused on its assets in Western Australia. 

As of 31 December 2023, the company had $1.8 million cash at hand, according to its latest quarterly report. 

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Ionic Rare Earths increases Makuutu exposure

Ionic Rare Earths (ASX:IXR) has increased an exploration licence within the Makuutu Heavy Rare Earths Project in Uganda by 40% via its maiden rotary air blast drilling program. 

The $78 million market capitalisation company reports exploration licence (EL00257) has been revised upward to 285-766 million tonnes grading 400-700 parts per million (ppm) total rare earth oxide (TREO). 

A total of 76 holes were drilled in the phase five program across EL00147 and EL00257, as well as retention licence 00007, with 69 holes reporting assays with clay-hosted rare earth intersections above the current resource cut-off. 

Drilling across EL00147 has increased the confidence in the existing exploration target defined for 00147 with no further change. 

Ionic notes that the exploration target is outside of the current project’s Mineral Resource Estimate. 

The company intends to design an exploration program to evaluate the targets for resource development, including drilling and processing testwork. These will be compiled during 2024 to inform Ionic on work streams to advance exploration licences towards further evaluation. 

Drilling in 2023 on EL00257 was broad spaced with the aim of identifying the presence and tenor of rare earth mineralisation in the regolith above underlying fresh rock in laterite plateau areas. 

Meanwhile, drilling on EL0147 was designed to infill the initial 1-kilometre spaced 2021 RAB program drilling to a spacing of 500m. This drilling returned results consistent with the 2021 program and the exploration target range have been maintained for targets A6, B4, and B5. 

Ionic is currently focused on progressing the development of its Makuutu project through local Ugandan operating entity Rwenzori Rare Metals. The company has agreed terms with partners on moving to 94% ownership, which is anticipated to occur in H1 2024. 

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AI makes Legacy magmatic PGE-nickel-copper discovery

Legacy Minerals (ASX:LGM) reports the receipt of diamond drilling assays by its exploration alliance partner Earth AI at its Fontenoy Project warrants follow-up work after encountering ‘strong’ nickel-copper-platinum group element anomalism. 

The $13.70 million market capitalisation company says there is an opportunity to follow-up with electrical geophysics for future drill targeting, alongside surface geochemical surveys which will target platinum group element (PGE)-related mineralisation that may further define drill targets for testing. 

Diamond drilling is also being planned to follow-up on these results. 

Legacy is undertaking the work after receiving diamond drilling assays from Fontenoy by its exploration alliance partner Earth Artificial Intelligence (AI). 

Chief Executive Officer and Managing Director Christopher Byrne says the driving force behind this discovery is the implementation of AI through Earth AI. 

“In their search for magmatic-related nickel-copper sulphides and PGE’s, this is genuine frontier exploration in an area previously known for its scandium-nickel-cobalt laterite deposits. 

What is also impressive is that this is the first confirmed discovery of magmatic-related nickel-copper sulphide mineralisation in the 700km long ultramafic belt that hosts the Fontenoy Project. 

Whilst the Earth AI team is at an early stage in the discovery, the grades, width and extensive prospective strike length mean this discovery is wide open for further exciting news to come.”

Earth AI completed drilling with 3 holes for 1,633.7m at Fontenoy, alongside implementing its AI deposit targeting system which generated a range of drill targets across the tenement. 

Through ground-truthing, the potential for magmatic-related nickel-copper-PGE mineralisation was identified. 

Legacy reports drillhole EFO7D recorded 34m @ 0.5 grams per tonne (g/t) 3E PGE, including a ‘higher grade’ zone of 10m @ 1.2g/t 3E PGE, 0.2% nickel and 891 parts per million copper from 388m. 

Legacy Minerals previously announced it had signed an exploration alliance agreement with Earth AI covering its Fontenoy project. As part of the agreement, Earth AI will contribute up to $4.5 million of total exploration costs across the tenement over a 2-year period, with an option to extend for a further year. 

The Fontenoy Project contains disseminated and veined copper-gold mineralisation over a 8km strike length in the Lachlan Fold Belt of New South Wales. 

Earth AI is a vertically integrated metals explorer based in San Francisco, US. 

Legacy Minerals is a mineral explorer focused on its gold, copper, and base metal assets in the Lachlan Fold Belt. 

As of 31 December 2023, the company had $1.601 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Legacy Minerals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.