Hi all, we have some very interesting updates this week and a couple of honorable mentions. A drilling campaign I have been looking forward to has kicked off with GAL, and another has finished with interesting results.
The Tracker
GAL drilling that 16k S conductor (Started this week)
Assay update from CUS on Douglas Creek (Assays expected Sep-Oct)
Drilling update from S2R/LGM on the Glenlogan Porphyry target (presentation from Diggers said they were at 450m with the target expected to start at 700). Expect that the hole would be done by now?
ENR drilling at Sandover
GCM drilling at Boulia (Drilling completed awaiting assays)
Follow ups
Galileo Mining- GAL- Drilling Underway at Priority Norseman Targets
Galileo came out this week and announced the start of a small targeted RC drilling campaign chasing Callisto lookalikes in their prospective sill north of the deposit. The company expects that the program will finish in 3 weeks with first assays available late Sep/Oct.
In terms of how the results of this project will be reported the company has historically been very regular with reporting visual magmatic sulphide intersects for new or interesting zones of mineralization. That may be the case here? One of the targets of this campaign, the one I am most interested in (and described in a previous post given below) is a EM anomaly of decent size and conductivity located in a favorable basal position in prospective ultramafic sill rocks.
The big win here is if the EM anomaly represents a decent thickness of massive and heavily disseminated sulphides with the same tenor as Callisto (see post above for details).
Of the possible outcomes are barren sedimentary sulphide (or graphite), the aforementioned high-tenor mineralization, or magmatic sulphide of some different (economic/uneconomic tenor).
In speaking to some colleagues, I found few were familiar with the term “tenor” that gets used regularly in orthomagmatic Ni-Cu-PGE exploration. See the video below from the 20 minute mark for an explanation (turn it up, for some reason it is very quiet).
Key point to take away is that the companies Callisto deposit has a high Ni, Cu and PGE tenor but low sulphide concentrations. Should the same system produce a massive sulphide deposit with the same metal tenor then it could be very economically appealing.
I watch with interest.
Green Critical Minerals- GCM- Drill Program Confirms Porphyries & Skarn at Boulia Project
GCM came out with a update stating that their drilling campaign has been completed. I was waiting for the announcement saying that it started. The discovery the company has made thus far looks to be a huge technical success with the drilling of thick intersections of skarn and intusives. For the uninitiated, the term skarn refers to carbonate rocks altered by hot hydrothermal fluids. See the video below for detailed explanation by Larry Meinert (big deal skarn expert).
The company suggests that they have “confirmed the potential for an extensive new belt of mineralization”. I whole heartedly agree with this. The company appears to have hit extensive zones of hydrothermal alteration with some pyrite. The cynic would be unimpressed with this result but given that we are dealing with coarsely targeted undercover mineralization this is highly encouraging in my opinion.
The company will be conducting further targeting to zone in on areas of potential sulphide mineralization ahead of future exploration campaigns.
It will be interesting to see what the assays come back with in terms of precious metals and any indications of geochemical and mineralogical zoning. This is very much a Greenfields affair and the company appears to be the first mover. This carries advantages in that they have a piece of ground that has demonstrated tectonothermal activity and alteration. The next step is to find and prove up economic mineralization.
I am keen to see the company pursue this aggressively and make big discoveries.
I watch with interest.
New interesting targets
None
Honorable Mentions
A few of interest this week
Elementos- ELT- Cleveland Tungsten Mineralisation updated
Lodestar Minerals- LSR- Drilling to Commence at Ned's Creek Gold Project
Finally, a repeat of the disclaimer, nothing here is financial advice, comes with no warranty and I take no responsibility for anyone’s financial decisions.
Cheers,
CC