Big Hits: White Cliff, Benz Mining and Koonenberry | Australian Markets

Bulls N’ Bears Big Hits examines notable drill intercepts just lately revealed on the ASX, together with White Cliff Minerals’ 58-metre hit at 3.08 per cent copper and 13.3 grams per tonne (g/t) silver at its Rae project in Canada.

Other attention-grabbing drill hits had been reported from Benz Mining Corporation’s Glenburgh project in Western Australia’s northwest and Koonenberry Gold’s Enmore gold project in New South Wales.

Let’s dive in.

White Cliff Minerals (ASX: WCN)

Rae copper project,

Nunavut, Canada.

Hit: 58m assaying 3.08 per cent copper and 13.3g/t silver

White Cliff Minerals just lately reported a reverse circulation drill intercept of 58m assaying 3.08 per cent copper and 13.3g/t silver from 52m, together with a high-grade 18m run assaying 5.21 per cent copper and 22.33g/t silver from 69m.

The drill gap was the primary in White Cliff’s exploration drilling of its Danvers district, which kinds half of the company’s 1228-square-kilometre Rae copper project in Nunavut, Canada. Over the next two weeks, the company adopted up the spectacular outcomes with two additional excellent runs in its second and third holes.

White Cliff’s maiden drilling program was meant to be about orientation and scout exploration to establish mineralisation at Danvers, so having its first assay outcomes returned with a almost 60m intercept of more than 3 per cent copper was an excellent starting.

Six days later, White Cliff reported one other excellent drill run of 175m assaying 2.5 per cent copper and 8.66g/t silver from 7.6m depth, together with 14m going 7.55 per cent copper and 25.8g/t silver from 138m.

The final 60m of the second gap averaged a beautiful 3.9 per cent copper and 14.96g/t silver to its ultimate depth of 182.88m, the place it resulted in mineralisation. The gap’s backside 1.5m drilled up to now, graded 4.46 per cent copper and 11.58g/t silver and stays open at depth.

Samples from that gap had been assigned assay precedence due to the abundance of seen sulphides within the drill chips. Management says the opening’s excellent outcomes justify the company’s confidence in its initial visible proof.

White Cliff believes the drill gap ranks among the many most important copper intersections globally within the previous 50 years and comfortably sits within the highest 10 reported “grade-metre” copper outcomes.

It mentioned the company’s enhancing geological understanding of the Danvers exploration space factors to a mineralised system extending from floor to more than 175m vertical depth and doubtlessly for up to 7km of strike to the northeast and southwest.

Based on the early outcomes, White Cliffs has high hopes it is going to be the vanguard of more massive hits.

As if on cue, White Cliff then unveiled an intercept in a third gap of 90m at 4 per cent copper and 7.5g/t silver from floor, together with a high-grade intercept of 18m assaying 6.5 per cent copper and 11.4g/t silver from 26m.

That major intercept additionally included a 1.52m run averaging a exceptional 19.45 per cent copper and 34.1g/t silver from 30m and one other high-grade run of 14m going 7.7 per cent copper and 16.2g/t silver from 61m.

The third gap was designed to check the thickness of the mineralisation and was drilled in direction of the southeast, perpendicular to the strike of the copper-rich breccias. Results verify continuity of high-grade mineralisation reported within the headline gap.

White Cliff says the drilling program so far has enabled it to dial in on the high-grade copper zones. It will return to website shortly to drill out the new mineralisation because it steps out alongside a 9.5-kilometre faulted construction.

Even with out different supporting intercepts, the second and third holes at Danvers verify vital continuity and grade throughout a giant copper-rich breccia vein that averages about 3-4 per cent copper, imparting actual significance to the potential of all of the vein-hoisted breccias within the company’s tenure.

Management says it’s assured it would ship a materials maiden exploration goal at Danvers after finishing the subsequent spherical of drilling, and it expects the high-grade core at Danvers will considerably add to the goal’s total economics.

Last week, White Cliff introduced it has obtained firm commitments to raise $14.4 million to drill its Rae copper project via the yr.

The capital raise was considerably oversubscribed, with White Cliff receiving investments from a number of new Australian, United Kingdom, Hong Kong and Singaporean financial establishments, together with its present institutional and subtle shareholders.

The company says the funds shall be used to increase and speed up its drilling and exploration actions at Rae, with drilling set to recommence from mid-July.

Benz Mining Corporation (ASX: BNZ)

Zone 126 Glenburgh project

270km southeast of Carnarvon, WA

Hit: 2m at 6.8g/t gold from 295m

Benz Mining’s current reverse circulation drilling of its Zone 126 goal on the company’s Glenburgh project intersected 2m of high-grade gold mineralisation averaging 6.8g/t gold from 295m downhole depth.

The intercept kinds half of a tantalising 102m run between 294 and 396m deep, averaging 0.32g/t gold, together with 33m assaying 0.67g/t gold from 295m.

The headline gap is one of three extra holes put into the company’s Zone 126 space as half of Benz’ maiden drilling on the project.

The program focused depth repeats or extensions of Zone 126, an space of high-grade gold mineralisation found by earlier homeowners Gascoyne Resources and Helix Resources.

Drilling outcomes from Zone 126 when Benz purchased the project late final yr included 10m at 11.6g/t gold, 8m at 11.6g/t, 24m at 9.1 g/t, 14m at 8.9 g/t,12m at 8.1g/t and 28m at 5g/t gold from near-surface to about 290m vertical depth.

Benz’ review of historic knowledge and its reconnaissance mapping led it to suggest a new model of a shallow plunging fold control on mineralisation within the gneissic rocks at Glenburgh.

The idea was efficiently examined when the company drilled the northeast-plunging continuity of the historic Zone 126 over the next 5 months.

Significant intercepts from that work embody 11m at 19.9g/t gold, 4m at 12.2g/t, 5m at 10.2g/t, 8m at 5.6g/t and 12m at 2.6g/t gold.

The outcomes assist Benz’ new model and outline a second high-grade en echelon gold lens about 25m to 50m northeast of and 80m down-plunge from Zone 126.

At this stage, the new zone is interpreted to increase a vertical distance about 170m to 420m beneath floor.

Based on these outcomes and the place of the second lens, the company’s latest modelling now factors to a doable third lens which may exist additional to the northeast and down-plunge from the second lens.

The tentatively interpreted third lens is at the moment modelled to take a seat about 220m to 520m beneath floor and between about 25m to 50m down-dip from the second lens.

The ongoing modelling seems to have been validated, with Benz saying the place of its most up-to-date headline hit is according to its interpretation of a probably third high-grade gold lens.

These a number of gold zones would by no means have been explored with out the benefit of a new structural model, with Benz saying that is the primary time drilling within the space has stepped away and down-plunge from the near-surface gold anomalism.

Benz figures the headline 2m at 6.8g/t gold hit lies on the higher and outer margin of the third lens, which may thicken in direction of its core, as noticed at Zone 126 and within the second lens.

The company sees the headline consequence as additional validating its exploration model and including impetus to its plan for a new spherical of drilling to verify and flesh out the third lens.

While at this stage the headline gap solely hints on the existence of a third lens, the model means that mineralisation potential stays open down-plunge and that the proposed drilling stands a good probability of defining it more broadly.

Two different step-back holes have additionally focused the mineralised “gap zone” between the company’s close by Icon and Apollo deposits.

Both holes hit broad zones of low-grade mineralisation, with a notable 220m intercept averaging 0.37g/t gold from 181m depth and ending in mineralisation. This represents one of the thickest intervals recorded on the project so far.

The broad mineralised intercepts between Icon and Apollo spotlight the potential scale of the gold system on the Glenburgh project.

While high-grade discoveries stay a precedence for Benz, the massive low-grade gold envelope alongside the 4km northeast-trending Icon-Apollo structural hall and enclosing the high-grade lenses, highlights a doable bulk mining alternative with two clear paths to useful resource enlargement.

The company’s Glenburgh gold project has a mineral useful resource estimate of 16.3 million tonnes at a grade of 1g/t gold for 510,100 ounces of contained gold, based mostly on shallow drilling.

With the drill rig slated to quickly start a second assault on the project, Benz believes it’s sitting on a district-scale gold system at Glenburgh with multi-million-ounce potential.

Benz has kicked off an bold 30,000m reverse circulation drilling marketing campaign at Glenburgh, with diamond drilling set to observe within the third quarter of the yr.

The program comes on the back of the company’s current $13.5M capital raise, which can place it to aggressively advance the drilling program.

Koonenberry Gold (ASX: KNB)

Sunnyside prospect

Enmore gold project, NSW.

Hit: 102m assaying 1.10g/t gold together with 9.7m at 3.57g/t gold

Koonenberry Gold has landed an emphatic 102m run assaying 1.10g/t gold from 184m, together with 44m going 1.77g/t gold from 235m, which incorporates 9.7m at 3.57g/t gold from 252.3m.

The exceptional run was logged for the company’s third diamond drill gap at its Sunnyside prospect, which is a component of its Enmore gold project in northeastern NSW.

The intercept represents a hefty 112.20 gram-metre interval with an equal horizontal width of 80m, measured perpendicular to the strike of a first-order 140m-wide northeast-striking host shear hall.

The Sunnyside prospect happens alongside the Sunnyside fault on the contact between 302-million-year-old Permo-Carboniferous porphyritic Enmore Monzogranite to the northwest and older sedimentary Girrakool Bed rocks to the southeast.

The shear hall arcs gently across the near-vertical, sheared fault contact between the granite and the sediments.

The company’s earlier two diamond holes had been each drilled at a 55-degree dip and intercepted spectacular runs. Visible gold was reported in seven of the 9 holes drilled.

The first gap, bored in granite to observe the steep granite-sediment contact, returned 170m assaying 1.75g/t gold from 77m, together with 18.3m working 9.95g/t gold from 172.9m, with 0.3m going 144.5g/t gold from 173.8m.

A second related gap returned 172.9m assaying 2.07g/t gold from 171m, together with 25m going 5.23g/t gold from 194m, which included 5m working 11.09g/t gold from 213m.

The fourth and fifth holes each reported seen gold.

More current outcomes from the fourth gap got here home with a sturdy run of 149.5m at 0.94g/t gold from 184.5m, together with 91.5m assaying 1.15g/t gold from 184.5m that additionally included 2m at 13.52g/t gold from 200m.

Results are anticipated for the fifth gap in mid-June.

The company interprets a true width of mineralisation throughout the first shear zone of about 75m.

Koonenberry hails its inaugural drilling program at Enmore as a great success, having recognized a gold system extending throughout an space of about 260m x 300m, which stays open alongside strike to the southwest and northeast and at depth within the shear physique.

The outcomes present good proof for the system’s potential to host broad intervals of shallow gold mineralisation and high-grade gold zones at depth.

Ten holes have been put into the Sunnyside goal at Enmore, with three exhibiting seen gold. Results are pending for the remaining holes.

The company held $5.35M in money as of the tip of March and stays effectively funded to proceed its exploration at Enmore and throughout its different tasks.

Is your ASX-listed company doing one thing attention-grabbing? Contact: [email protected]