Northern Star Resources reports that exploration drilling at its Jundee gold mine in Western Australia has increased resources by 299,000 oz to 1.15 million oz in 9.2 million metric tons (mt) grading 3.9 g/mt and reserves by 32,000 oz to 415,000 oz in 2.7 million mt grading at 4.7 g/mt.
“The new estimates provide more firm evidence that Northern Star’s A$50 million campaign to grow the lives of all its mines is achieving its objective. They also show that Northern Star is continuing to replace all the gold it is producing at Jundee, which is operating at the rate of about 200,000 oz/y,” the Northern Star announcement said.
Ongoing drilling at Jundee is targeting mineralization down-plunge of the main lode systems. The drilling is also designed to test for key geological structures running in an east-west direction. Most of the known mineralization at Jundee is hosted in north-south structures, with the east-west structures having been subjected to extremely limited drilling. Drilling is also targeting the substantial area between the prominent north-south structures currently being mined.
Mariana Resources’ joint-venture partner Lidya Madencilik Sanayi ve Ticaret (Lidya) has completed work to earn an initial 20% interest in the Hot Maden project in eastern Turkey and is planning an aggressive Phase II work program that will include up to 10,000 m of diamond drilling. Lidya retains the right to earn up to a 70% interest in the Hot Maden project by incurring a total of $3 million of combined exploration expenditures and cash payments within a 48-month period.
Lidya completed a Phase I diamond drill program of seven holes for 1,647 m at Hot Maden in January. The program highlight was discovery of high-grade gold-copper mineralization hosted by silicified and brecciated andesites flanking the Hot Maden fault zone. Key intercepts included 103 m grading 9 g/mt gold and 2.2% copper from 25-m downhole, including a higher-grade interval of 18.3 g/mt gold and 3.3% copper over 33.4 m from 79.8-m downhole.
The follow-up diamond drill program will include step-out drilling designed to determine the lateral and down dip/plunge extent of the high-grade gold-copper zone. The zone is currently open in all directions and may have a plunge toward the south. The principal copper minerals identified are chalcopyrite and bornite.
Valoriza Minería and Lundin Mining have signed an option agreement to collaborate on exploration projects in the Ossa Morena and Iberian Pyrite Belt mining areas in southwest Spain. Lundin’s contribution includes its ownership of 24 Research Permits encompassing 1,120 km2. Valoriza will handle operation and management of the mineral exploration. Once the initial option period obligations of the agreement have been met, a 50:50 joint venture will be set up between Valoriza and Lundin for the further development and possible future exploitation of the evaluated mineral resources.
The Ossa Morena area is located within a metallogenic geological province with potential for economic concentrations of metals, including copper, gold, iron, and nickel, extending 400 km from Portugal to the Guadalquivir basin in the north of Andalucía and Extremadura. Lundin’s Aguablanca nickel-copper mine is located within the Ossa Morena area.
The Iberian Pyrite Belt is well known internationally, with a mining history stretching back more than 3,000 years, and contains the world’s largest concentrations of massive sulphide deposits. It is a rich source of base metals such as copper, lead, and zinc, as well as precious metals, including gold and silver.
Valoriza Minería is a member of Spain’s Sacyr Group of companies.
Puma Exploration has announced the results of its 2014 year-end drill program that led to the discovery of a high-grade zinc massive sulphide lens at its 100% owned Turgeon project in northern New Brunswick. The highlight of the program was an intercept of massive sulphides grading 5.66% zinc, 0.38% copper, and 2.3 g/mt silver over 6.8 m, starting downhole at 219.1 m and including 10.05% zinc and 0.23% copper over 2.7 m within a 292-m intercept of an anomalous zinc mineralization halo that grades 0.32% zinc.
The company has started a 1,500-m 2015 drill program to define the extents of the high-grade lens and to validate the volcanogenic massive sulphide deposit model with the discovery of higher-grade copper stockworks.
The Turgeon project remains a priority for Puma based on exploration results and project’s outstanding regional location, with an infrastructure framework that includes the deepwater port of Belledune 5 km from the project, Glencore’s adjacent Brunswick smelter, a well-developed paved road network, and the nearby availability of skilled labor.
