Livewire Exploration Watch

John Robertson

PortfolioDirect

Australian Mines has reported a 5 metre intersection grading 11.07 g/t Au from 130 metres down hole at its Dixon prospect 40km southeast of the Plutonic Mine in the Doolgunna region of Western Australia. The host sequence shows similarities to the Plutonic mine host rocks. Despite some historic testing of the weathering profile, no deep drilling had been undertaken at the prospect. The first results from a recently completed RC drilling program at the Encounter Resources Millennium zinc prospect in Western Australia were consistent with earlier results showing widespread anomalism in the weathering zone but nothing that could point to a clear source of the anomalism. One hole intersected 70 metres at 2.3% Zn from a down hole depth of 182 metres. A second result intersected lower grade at a depth of 223 metres. In a ‘hit or miss’ effort, Bass Strait oil explorer 3D Oil has spudded the offshore Sea Lion 1 well targeting a prospective oil resource which could be integrated into a development with adjacent accumulations owned by others. The well should be completed in 4 weeks.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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