Fundraises for exploration and mining companies were up around 60% during 2020 compared with the previous year, strengthening balance sheets and allowing companies to undertake extensive and long-overdue exploration programmes.
The COVID-19 pandemic and a glut of samples in understaffed assay laboratories across the globe has meant that the results from these exploration programmes have been slower than any of us would like, but based on the large volume of exciting results we have seen during the start of this year, we could well be in for a bumper year of discoveries and resource expansions.
Here’s a selection of some of the better results that have caught my eye.
Greatland Gold
At Greatland Gold's (LON:GGP)’s Havieron deposit, located in the Paterson region of Western Australia, partner Newcrest Mining's (ASX:NCM) infill drilling campaign at the South East Crescent and Breccia Areas continued to return spectacular assay results, including:
- 111.7 metres (m) at a grade of 3.6 grams per tonne (g/t) gold (Au) & 0.46% copper (Cu) from 804.7 m, including 40.2 m at a grade of 8.4 g/t Au & 0.53% Cu from 816.8 m (HAD025W1)
- 37.7 m at a grade of 9.8 g/t Au & 0.27% Cu from 814.3 m (HAD109)
- 140.3 m at a grade of 2.5 g/t Au & 0.48% Cu from 554 m, including 37.7 m at a grade of 8.2 g/t Au & 1.4% Cu from 580.4 m (HAD110)
- 134 m at a grade of 3.1 g/t Au & 0.45% Cu from 558 m, including 22.9 m at a grade of 12 g/t Au & 0.56% Cu from 659.1 m (HAD110W1)
- 121.7 m at a grade of 2.0 g/t Au & 0.43% Cu from 708 m (HAD113)
- 108.6 m at a grade of 2.5 g/t Au & 0.64% Cu from 742.4 m (HAD113W1)
- The partners will be continuing the aggressive drill programme at Havieron during plans for approximately 65,000 m of drilling within the next six months focusing on multiple targets.
Alkane Resources
Alkane Resources (ASX:ALK) 37,000 m drilling programme at the San Antonio deposit is now completed, and the final assay results returned high-grades over large intercepts, including:
- 17.4 m at a grade of 1.75 g/t Au from 194.6 m, including 5.2 m at a grade of 4.28 g/t Au from 201.8 m (RWRC439D)
- 10.0 m at a grade of 6.68 g/t Au from 74 m, including 3.0 m at a grade of 17.1 g/t Au from 75 m (RWRC449)
- 11.0 m at a grade of 6.73 g/t Au from 187 m, and 5.0 m at a grade of 2.60 g/t Au from 211 m, and 6.0 m at a grade of 2.34 g/t Au from 251 m (RWRC456)
- 31.0 m grading 2.76 g/t Au from 13 m, including 2.0 m at a grade of 6.56 g/t Au from 134 m (RWRC459)
An updated resource estimate for San Antonio is expected imminently and Alkane expects to produce a mine plan for the deposit during the first quarter of 2021.
Brixton Metals
Brixton Metals (CVE:BBB) has continued to return high-grade drilling results from its 20,000 m winter exploration programme at its Langis Project, located in the Cobalt Camp of Ontario, Canada. Initial results from this programme include:
- 2.0 m at a grade of 5,847 g/t Ag from 16.6 m, including 1.2 m at a grade of 11,663 g/t Ag, 0.71% Co, and 9 m at a grade of 272 g/t Ag from 23.6 m (LM-20-133).
- 7.0 m at a grade of 962 g/t Ag, including 1.0 m at a grade of 3,050 g/t Ag, 0.17% Co (LM-20-131)
- 1.9 m at a grade of 1,596 g/t Ag, including 0.9 m at a grade of 3,180 g/t Ag (LM-20-122)
- 3.0 m at a grade of 422 g/t Ag, including 1.0 m at a grade of 1,115 g/t Ag, 0.16% Co (LM-20-128)
Brixton still has around 13,500 m of drilling to report from its ongoing drilling programme at Langis, and we would expect further results to be announced during the first half of the year.
IronRidge Resources
At the Zaranou Gold Project, IronRidge Resources (LON:IRR) received high-grade gold assay results from reverse circulation (RC) and air-core drilling at the Ehuasso target and the previously untested Coffee Bean, Mbasso and Yakassé targets. These results include:
Ehuasso
- 16 m at a grade of 6.68 g/t Au from 100 m, including 4m at a grade of 10.3 g/t Au, 4 m at a grade of 10 g/t Au and 4 m at a grade of 6g/t Au (ZARC0102)
- 68 m at a grade of 1.4g/t Au from 20 m, including 4 m at a grade of 11.7 g/t Au and 4 m at a grade of 5.6 g/t Au (ZARC0101)
Coffee Bean
- 8 m at a grade of 14.01 g/t Au from 4 m, including 4 m at a grade of 27.9 g/t Au (ZAAC0763)
- 8 m at a grade of 9.32 g/t Au from 32 m, including 4 m at a grade of 18.3 g/t Au (ZAAC0757)
Yakassé
- 28 m at a grade of 4.07 g/t Au from 124 m, including 4 m at a grade of 2 g/t Au, 4 m at a grade of 3.4 g/t Au and 4 m at a grade of 21.2 g/t Au (ZARC0100)
- 4 m at a grade of 2.69 g/t Au from 192 m (ZARC0098)
These results now confirm the presence of gold mineralisation in multiple targets along the 47 km long structure related to gold mineralisation at Zaranou.
African Gold Group
The African Gold (CVE:AGG) drilling programme at the Kobada Gold Project was focused on upgrading the oxide resources in the inferred category to indicated and measured and to test for gold mineralisation at the neighbouring Gosso shear zone. Assay results include:
- 3.0 m at a grade of 39.48 g/t Au from 55.0m (KB20_PH4A_34)
- 13.0 m at a grade of 1.87 g/t Au from 61.0m (KB20_PH4A_38)
- 4.0 m at a grade of 11.95 g/t Au over from 39.0 m (KB20_PH4A_31)
- 6.50 m at a grade of 4.49 g/t Au from 167.0 m (KB20_PH4A_28)
- 14.0 m at a grade of 3.5 g/t Au from 113.0 m (KB20_PH4A_20)
These results are expected to be incorporated in the next mineral resource estimate update in early-2021 African Gold also intends to continue to test new mineralised areas during 2021.
Great Bear Resources
Great Bear Resources (CVE: GBR-OTCQX: GTBAF) continues to intersect significant widths of high-grade gold mineralisation at its Dixie Project, located in the Red Lake District of Ontario. Results include:
- 34.85 m at a grade of 10.01 g/t Au from 50.50m (BR-218)
- 10.40 m at a grade of 15.25 g/t Au from 63.00 m (BR-243)
- 8.60 m at a grade of 16.69 g/t Au from 30.40m (BR-241)
- 11.00 m at a grade of 16.56 g/t Au from 162.50m (BR-196)
- 7.35m at a grade of 20.24 g/t Au from 163.50 m (BR-201)
Great Bear Resources expects that it will report the results from over 50 drilled holes between now and the end of February 2021.
De Grey Mining
De Grey Mining's (ASX:DEG) latest drilling campaign at the Hemi Gold Discovery, located about 60 km south of Port Hedland in Western Australia, has returned some very large intersections of gold mineralisation from several intrusions, including:
Falcon intrusion
- 92.0 m at a grade of 1.3 g/t Au from 124 m (HERC424)
- 93.0 m at a grade of 1.2 g/t Au from 110 m (HERC421)
- 145.7 m at a grade of 0.9 g/t Au from 198.3 m, including 66.7 m at a grade of 1.4 g/t Au from 198.3 m (HERC402D)
Diucon intrusion
- 99 m at a grade of 1.0 g/t Au from 114 m. including 19 m at a grade of 2.0 g/t Au from 158 m (HERC382)
Eagle intrusion
- 68 m at a grade of 0.7 g/t Au from 50 m (HERC377)
Ongoing RC and diamond drilling is expected by De Grey Mining to expand the mineralisation at the Falcon intrusion to define a resource in mid-2021, while follow-up RC drilling at the Diucon and Eagle intrusion will continue with the aim to delineate the extent and continuity of gold mineralisation in both intrusions.