Big Hits: Caprice, Stavely and Patriot Battery | Australian Markets

Bulls N’ Bears Big Hits appears to be like at notable drill intercepts just lately reported to the ASX. Caprice Resources’ Island gold project south of Cue in Western Australia hit 11 metres grading 17.3 grams per tonne (g/t) gold, together with 9m at 21g/t gold from 170m.

Other fascinating drill hits have been reported at Stavely Minerals’ Fairview prospect in Victoria, whereas Patriot Battery Metals made a huge caesium discovery in Quebec, Canada.

Caprice Resources (ASX: CRS)

Project: Island gold project, WA’s Mid West area

Hit: 11m at 17.3g/t gold, together with 9m at 21g/t from 170m

Caprice Resources struck gold with its standout 11m at 17.3g/t gold intercept, together with 9m at 21g/t from 170m downhole on the company’s Vadrian’s goal within its Island gold project within the Meekatharra–Cue–Mt Magnet greenstone belt in WA’s Murchison area.

The high-grade hit from the company’s first batch of samples from its section three reverse circulation (RC) drilling program confirms the Evening Star lode as a vital discovery, doubling its strike size to 350m and extending mineralisation at depth, the place it stays open.

Supporting this high end result, extra high-grade gold intercepts from the ultimate batch of section three assays at Vadrian’s embrace 9m at 14.8g/t from 154m, together with 1m at 33.1g/t from 159m; 5m at 18.3g/t from 180m, together with 1m at 62.6g/t; and 10m at 10.9g/t from 123m, together with 1m at 63.9g/t.

Earlier section three gold outcomes additionally romped home with 10m at 11.7g/t from 175m, together with 8m assaying 14.4g/t from 176m downhole and 9m at 8.3g/t from 94m.

Further potential is proven on the company’s New Orient prospect, 1 kilometre south, in a notable intercept of 21m at 1.3g/t from 29m, together with 2m going 9.2g/t gold from 46m. The mineralisation stays open to the north and down dip.

Caprice holds more than 1800 sq. kilometres of potential WA ground, with 240 sq. kilometres throughout its Murchison gold initiatives, together with the Island, New Orient and Cuddingwarra.

Island spans a 5km-long, 700m–1000m-wide hall, which hosts gold in items of banded iron formation up to 30m thick, a key host rock within the Murchison Goldfields.

High-grade gold is related to north-northwest / south-southeast trending en echelon vein units and main crosscutting buildings, mirroring the area’s more-than-15-million-ounce whole gold endowment in deposits.

The company has additionally found two new mineralised zones – West Star, with 2m at 3.2g/t gold from 132m and at Condenser, with 2m at 1.1g/t from 90m which reinforce the potential for different stacked lodes throughout the hall.

Drilling up to now has been restricted to 170m beneath floor, leaving vital depth potential unexplored.

The company’s section three drilling program comprised 43 RC holes for 7024m and was accomplished in June. All assays have been obtained and the outcomes affirm rising gold grades at depth, satisfyingly validating the geological model.

Additionally, laboratory evaluation confirms free gold within the intercepts, which can facilitate processing and refining.

Island’s structural and geological setting, with banded iron formation items and crosscutting buildings, is in line with different high-grade deposits within the Murchison.

Caprice is steadily transferring in direction of a maiden mineral useful resource estimate with a totally funded section 4 program of 20,000m of air core, RC and diamond drilling deliberate for September. The company anticipates the work will prolong high-grade zones and present structural knowledge.

An air core program slated for the final quarter of the 12 months will goal an undrilled 1000m-long banded iron formation trending beneath Lake Austin’s sediment cowl, between New Orient and Vadrian’s, in addition to high-titanium basalt stratigraphy on Island’s western edge, which has similarities to the Break of Day deposits.

The Island project accommodates many of the historic mines within the Lake Austin gold mining centre and includes two granted mining leases and one exploration licence. It sits between Ramelius Resources and Westgold Resources’ processing infrastructure within the coronary heart of the Murchison gold district.

Meanwhile, Caprice’s 1500-square-kilometre West Arunta project, focusing on gold, copper and niobium/uncommon earths, is capitalising on its a number of high-priority targets. These embrace analogues of WA1’s Luni discovery and its 200Mt at 1 per cent niobium pentoxide mineral useful resource.

With high-grade hits at Vadrian’s, new zones at West Star and Condenser, and a strategic combine of RC, diamond and air core drilling deliberate, Caprice is well-positioned to unlock additional worth at its Island project, doubtlessly defining a vital gold useful resource within the Murchison.

Stavely Minerals (ASX: SVY)

Project: Fairview North and South prospects within the Stavely copper-gold project, Western Victoria

Hit: 1m at 49.2g/t gold from 10m

Stavely Minerals has uncovered high-grade gold at its Stavely copper-gold project in western Victoria, with vital outcomes from RC drilling at its Fairview North and South prospects.

The standout assay from Fairview South revealed 1m at 49.2g/t gold from 10m within a broader 40m at 1.96g/t from floor, together with 17m at 4.18g/t from 9m and 9m at 7.15g/t from 9m.

Other Fairview South outcomes embrace 42m at 1.14g/t from a earlier RC gap, with 9m at 3g/t, and an air core gap assaying 29m at 1.42g/t from floor.

Geological mapping and rock-chip sampling at Fairview South prolonged the mineralised zone 600m south, with high-grade assays from brecciated, quartz-veined and gossanous samples yielding up to 25.6g/t, 8.79g/t, and 4.49g/t gold.

Eight float samples confirmed anomalous gold above 0.1g/t, together with 0.41g/t in huge gossan with quartz crystals.

The prospect options intermediate and felsic intrusive dykes close to a gravity low tied to rhyolite intrusions on the intersection of a north-south gold pattern and a west-northwest construction.

At Fairview North, 4.3km north, RC drilling yielded 59m at 1.31g/t from floor, together with 27m at 2.33g/t with 3m at 10.81g/t from 19m, alongside 42m at 1.57g/t from 23m, together with 8m at 4.76g/t, and 29m at 0.96g/t from floor, with 6m at 3.46g/t gold.

Fairview North’s RC drilling confirmed well-developed, shallow, doubtlessly heap-leachable gold mineralisation. Bottle-roll cyanide leach assessments from 2017 point out 72.6 per cent to 98.4 per cent gold restoration after 120 hours, and column leach assessments displaying 81.9 per cent to 95.8 per cent restoration.

The mineralisation aligns within a northwest-trending hall with three sinusoidal structural zones, guiding additional RC drilling to develop the footprint.

The Fairview prospects counsel a vital mineralised construction doubtlessly spans 10km.

Stavely’s ahead program consists of extra RC drilling to check structural geometries and composite metallurgical testwork to evaluate low-cost heap leach restoration choices.

The company’s high-grade gold hits and promising leach take a look at outcomes at each of its Fairview prospects signal a growing mineralised system, with ongoing drilling poised to unlock additional potential on this rising gold-copper play.

Patriot Battery Minerals (ASX: PMT)

Project: Shaakichiuwaanaan, Eeyou Istchee James Bay, Quebec, Canada.

Hits: 156.9m at 2.12 per cent lithium oxide; 1.1m at 26.61 per cent caesium oxide

Patriot Battery Metals has confirmed the world’s largest pollucite-hosted caesium useful resource at its Shaakichiuwaanaan project in Quebec’s Eeyou Istchee James Bay area, complementing its globally vital lithium and tantalum pegmatites.

The project, that includes CV5 and CV13 pegmatites, ranks as the biggest lithium useful resource within the Americas and a top-tier crucial minerals hub.

The standout lithium intercept is 156.9m at 2.12 per cent lithium oxide, together with 25m at 5.04 per cent lithium oxide and 5m at 6.36 per cent lithium oxide from the CV5 pegmatite.

CV5 hosts the majority of the project’s lithium, with an indicated useful resource of 108 million tonnes at 1.40 per cent lithium oxide and 166 components per million (ppm) tantalum pentoxide, plus an inferred 33.4Mt at 1.33 per cent lithium oxide and 155ppm tantalum pentoxide.

The high tantalum pentoxide intercept is 5.4m at 356ppm within 31.6m at 0.95 per cent lithium oxide.

The caesium discovery shines within the Rigel and Vega zones within the CV13 pegmatite. The high caesium intercept is 1.1m at 26.61 per cent caesium oxide from the Rigel zone, with one other notable hit of 5m at 13.2 per cent caesium oxide, together with 2m at 22.9 per cent caesium oxide.

CV13’s useful resource consists of Rigel’s indicated 163,000t at 10.25 per cent caesium oxide and 1.78 per cent lithium oxide, and Vega’s indicated 530,000t at 2.61 per cent caesium oxide and 2.23 per cent lithium oxide.

It has an inferred 1,698,000t at 2.40 per cent caesium oxide and 1.81 per cent lithium oxide for a whole 30,599t indicated and 40,800t inferred caesium oxide.

Caesium is unique to CV13, with no vital occurrences in CV5.

Caesium is provide constrained and is utilized in drilling fluids, optical glass and atomic clocks for web and cellular networks. Historically, solely a few mines have produced caesium, usually as a lithium by-product, together with Sinomine’s Tanco mine in Canada, the Bikita mine in Zimbabwe and Pioneer Resources’ Sinclair mine within the WA Goldfields.

Power Metals’ Case Lake project in Ontario just lately reported a 13,000t inferred useful resource at 2.4 per cent caesium oxide, however Shaakichiuwaanaan’s scale – with 30,599t indicated and 40,800t inferred caesium oxide – positions it as the worldwide chief.

The project’s lithium useful resource, the eighth largest globally, in addition to a potential additional tantalum useful resource improve its strategic worth.

Patriot is advancing a scoping metallurgical program utilizing X-ray ore sorting to optimise pollucite restoration from the Vega zone drill core, alongside lithium and tantalum co-recovery.

Further drilling goals to improve inferred assets and assist geo-mechanical research and the company is planning a lithium-focused feasibility examine this quarter.

Shaakichiuwaanaan’s world-class caesium, lithium and tantalum assets place Patriot as a key participant in North American and European crucial mineral provide chains, with ongoing work set to unlock its multi-commodity potential.

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