Livewire Exploration Watch
Aspiring Angolan diamond miner Lucapa Diamond Company has reported a high quality 90.32ct stone and eight stones weighing over 10ct from bulk testing and processing Mining Block 8 since 22 September. The results, contributing to a tripling in the share price, support the potential occurrence of a nearby hard rock source, warranting further exploration. Inca Minerals’ results from three diamond holes at its Chanape prospect in Peru failed to excite. The company reported a “high grade gold vein and pervasive epithermal porphyry mineralization” close to the summit of Mount Chanape. Several broad zones of weakly mineralized breccia were intersected but there was nothing to support the existence of a more extensive system. St George Mining will commence 7,000 metres of RC drilling this week to test promising geophysical exploration targets at its Windsor and Desert Dragon prospects in the Laverton region of Western Australia. These were prized prospects among BHP Billiton geologists before head office pulled funding for nickel. St George has a high quality team backing a systematic exploration effort with the potential for multiple deposit discoveries.
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...
No areas of expertise