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DRILL BITS Exploring together for success bostech.com.au

aN evolutioN to staRt iN cue between Hayanmi and Boyd’s Dam and showed new potential
structures and gold mineralisation.
Aircore drilling from the Evolution Mining Ltd/Musgrave Minerals
Ltd Lake Austin JV in Western Australia’s Murchison district has “When considered with the new gold mineralisation at Eagle
extended gold anomalism and defined high-grade zones of 5, the resource potential of the broader Boyd’s Dam complex
regolith gold for basement drill testing. is considerably enhanced. At the Golden Camel Project east
of Fosterville, strong gold mineralisation was RC drilled at the
Highlights from the JV at Musgrave’s flagship Cue project
Toolleen Mine area [6m @ 9.7g/t gold, including 2m @ 27.7 g/t]
included; 5m @ 12.1 g/t gold from 90m (including 1m @ 53.7 g/t
and in diamond drilling in the Golden Camel mine area [9m @ 5
from 90m), 13m @ 1.9 g/t from 96m (including 1m @ 17.2 g/t from
g/t],” the company stated.
106m); 69m @ 0.8 g/t from 126m to end of hole (including 23m
@ 1.3 g/t from 159m). Four Eagles is within the Whitelaw gold corridor, which is
considered a major structural control of gold mineralisation north
Phase 1 and Phase 2 drilling has seen more than 48,895m
of Bendigo.
completed and multiple high-priority basement gold targets for
follow-up diamond drilling. The tightly held Catalyst stock was trading at $2.77c/share and
had a market cap of $231 million in late 2020.
capital gaiNs at sukaRi
gibb’s full of shiNe at edJudiNa
Capital Ltd’s drilling contract at the Sukari gold mine in Egypt has
been extended to December 2024. Gibb River Diamonds Ltd has completed the acquisition of 100%
of the Edjudina gold project.
An additional nine rigs – for a total of 24 – will be in operation at
Sukari, while Capital has also been awarded a 120mt open pit The high-grade gold project is in the heart of the Eastern
waste mining contract at the mine and will provide load-and-haul Goldfields of Western Australia, with Gibb’s early success being
and ancillary services. the discovery of the Neta Lodes prospect.
The contract awards have been labelled “transformative” for Assay results from Gibb’s 5,961m aircore drilling campaign were
Capital, which has proposed a placement to raise £22 million at expected at the time of print.
58p/share (about $US30 million) before expenses. In addition to drilling and exploration at Edjudina, Gibb plans to
Funds raised will be used to purchase equipment to fulfil progress the Ellendale diamond project, also in WA.
obligations under the Sukari contract and amended Sukari drilling
contract, as well as for general corporate purposes. oceaNagold gets gReeNlight iN NZ
The contracts are expected to deliver incremental revenues for
OceanaGold Corp has received receipt of permits (consent) for
Capital of $US235-260 million, compared with 2020 revenue
the Golden Point underground mine (GPUG), Deepdell North
guidance of $US130-140 million, based on Sukari’s mine plan at
Stage III (Deepdell) open pit extension, and the Frasers West
the point of tender submission.
expansion, allowing for the development of new and extended
open pit and underground mining opportunities at Macraes.
catalyst flies like aN eagle The consent for the projects means OceanaGold can extend the
Diamond drilling at Boyd’s Dam at the Four Eagles gold project, mine life of Macraes, New Zealand, to 2028.
Victoria, has continued to demonstrate gold mineralisation at Collectively, the projects are forecast to produce 1.1 moz gold
depth with gold-bearing structures presenting at key target over eight years, with open pit and underground operations
locations, Catalyst Metals Ltd reported in December. expected to produce 150,000-170,000 ozpa gold on average at
A stratigraphic traverse of diamond drill holes was also completed AISC of about $US1,000/oz.

Exploring together for success

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