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EXPLORER OF THE YEAR
programme at Kouri in north-east Burkina Faso. Kouri is in the
fault system which controls a number of multimillion ounce
Bellevue Gold Ltd’s back-to-back gMJ deposits, including West African Resources Ltd’s Sanbrado
project.
Explorer of the Year awards sparked
Carawine Resources Ltd (ASX:CWX)
much discussion as to which exploration
Market cap: $18 million. Share price: 24c
companies are in the mix to rival the With the heavy lifting to be done by Rio Tinto Ltd and Fortescue
Steve Parsons-led juggernaut. Metals Group Ltd over tenure in Western Australia’s Paterson
province, Carawine is freed up to explore its gold-copper Hill 800
project in Victoria. A drilling programme initially targeting down-dip
extensions of gold and copper mineralisation at Hill 800, about
80m and 160m below the current limit of drilling, before targeting
Alkane Resources Ltd (ASX:ALK)
nearby magnetic anomalies for potential porphyry systems
Market cap: $283 million. Share price: 56c beneath and adjacent to Hill 800. First assay results are expected
early in Q1 2020.
A hint of Cadia-style mineralisation at the company’s gold-copper
Boda prospect in New South Wales set the market alight.
Highlights from drilling at Boda included KSDD003: 502m @ Musgrave Minerals Ltd (ASX:MGV)
0.48 g/t gold, 0.2% copper from 211m (including 313m @ 0.62 g/t, Market cap: $36 million. Share price: 9c
0.17% from 228m, including 12m @ 3.28 g/t, 0.67% from 419m)
and 35.8m @ 0.21 g/t, 0.49% from 735m to end-of-hole. Assays A new high-grade link lode was reportedly intersected at Break
also confirmed strong gold-copper porphyry mineralisation 200m of Day at the Cue project. The intersection included 45m @ 11.8
south-east of the small near-surface Kaiser deposit. Drill intercept g/t gold from 144m down hole including 11m @ 14 g/t from 144m
highlights included KSRC027: 40m @ 1.30 g/t gold, 0.22% copper down hole (including 5m @ 29.2 g/t from 150m and 23m @ 16.2
from 0m (including 10m @ 2.86 g/t, 0.36% from 0m), 2m @ 3.24 g/t from 166m down hole). A resource update is scheduled for Q2.
g/t, 0.26% from 25m and KSRC029: 32m @ 0.53 g/t, 0.27% from
2m (including 11m @ 1.09 g/t, 0.4% from 9m). Saturn Metals Ltd (ASX:STN)

Market cap: $17.8 million. Share price: 34c
Magnetic Resources NL (ASX:MAU)
A RC drilling programme was in progress in late 2019 at the
Market cap: $100 million. Share price: 50c company’s 100%-owned Apollo Hill gold project (pictured), 60km
At HN9, a significantly sized north-northwest 3km gold mineralised from Leonora, Western Australia. The programme of up to 13,000m
zone has been outlined; 200m wide and open to the north-west, at Apollo Hill is part of the company’s strategy to rapidly expand the
south-southwest and at depth. Within the 3km zone there are 272 newly discovered high-grade hanging wall zones and to grow the
intersections (ranging from 1-8m) greater than 0.5 g/t gold, which Apollo Hill’s 781,000oz resource. Drilling results from exploration step-
includes 134 greater than 1 g/t, 49 greater than 2 g/t, 24 greater outs to the east and down dip included 5m @ 5.19 g/t gold from 44m,
than 3 g/t and 18 greater than 4 g/t. All the intersections are very within 16m @ 1.69 g/t from 44m, 11m @ 1.2 g/t from 180m within
shallow and within the first 50m of the surface, with the highly 25m @ 0.61 g/t from 166m and 7m @ 2.13 g/t Au from 64m.
prospective zone just 15km north-west of Granny Smith and 10km “Results continue to confirm our thesis for step change growth
north-east of Jupiter. immediately adjacent to the Apollo Hill main lode. We are
extremely encouraged by the widening gold system, further
higher-grade intersections, and the extension of the hanging wall
Tietto Minerals Ltd (ASX:TIE)
system down dip. We are pressing ahead with our accelerated
Market cap: $80 million. Share price: 26c exploration effort as our confidence in the geological picture and
gold system grows,” Saturn managing director Ian Bamborough
Existing shareholders and leading global institutional investors
firmly committed to supporting a $17 million capital raising for said in an ASX release.
50,000m of diamond drilling to be completed to grow the 2.2 moz
gold resource at the Abujar project, Cote d’Ivoire. (see page 42) Oklo Resources Ltd (ASX:OKU)
Market cap: $60 million. Share price: 14c
Meteoric Resources NL (ASX:MEI)
The Dandoko project in West Mali is in gold-rich terrain.
Market cap: $59 million. Share price: 5.3c A 10,000m resource definition programme was in progress
towards the end of 2019, with a maiden resource from Seko
Following a $2.7 million capital raising in August, firm
commitments for a further $7 million raising were received in expected this year. (see page 28)
November. The cash will be used to accelerate exploration at
Novo Astro and Juruena in Brazil. The programme will include
5,000m of diamond drilling at Juruena to expand known resources
and test additional target, as well as 3,000m of diamond drilling
at Novo Astro testing under known artisanal open cast mines and
20,000m of percussion/air core drilling to define the scale of the
mineralised system outside historical mining areas. The proposed
geophysical programmes at Novo Astro and Juruena (1.3mt for
261,000oz gold @ 6.3 g/t) will also be expanded.

Golden Rim Resources Ltd (ASX:GMR)
Market cap: $13.96 million. Share price: 1.2c
At the time of print, the company had three rigs undertaking
a 9,200m RC, 4,000m diamond and 15,000m auger drilling

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