Livewire Exploration Watch
With hundreds of mineral explorers listed on the ASX, there should be something each week to excite, disappoint and anticipate. South Australian gold explorer Tyranna Resources reported promising drilling results at its Golf Bore prospect including 31 holes from an RC drilling program with an average gold grade of 2.5 g/t over an average true thickness of 12 metres. Most results are no deeper than 35 metres. The shallow results are showing good continuity in terms of thickness and overall grade. Korab Resources reported unsurprisingly poor assay results after drill testing a modest scale nickel in soil anomaly at its Bachelor prospect in the Rum Jungle area of the Northern Territory. The area is noted for structurally controlled high grade uranium mineralisation rather than nickel sulphide occurrences. Impact Minerals has started a new drill program at its Red Hill platinum group metal prospect near Broken Hill in NSW. Squadron Resources, associated with Andrew Forrest, independently identified the prospectivity of this region and recently agreed to contribute funding for exploration. Look for results over the next 3-5 weeks.
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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