General 2015-07-28Drummond is a new exploration project initiated by the company as a result of generative work conducted in-house. The company's aim is to continue to develop a pipeline of new projects via this process, and to expand its portfolio of high quality gold projects outside its traditional South Australian and Northern Territory focus. The target is a gold deposit of epithermal style, similar to the other well known Drummond Basin deposits such as Vera Nancy, Yandan, Wirralie etc.
Nearby Location News
Glencore to restart mine 2016-10-11Glencore's Collinsville to return to production due to coal market improvements
Expansion offers lifeline for Ravenswood 2016-09-21A feasibility study into the expansion of the Ravenswood gold mine, in Queensland, has extended the mine life by another 13 years, to 2029. Gold miner Resolute Mining said on Wednesday that the expansion project feasibility study estimated that average annual gold production of 120 000 oz could be achieved, with the capital investment tipped at A$134-million for pre-stripping and staged processing plant expansion to five-million tonnes a year, from the 2.8-million tonne a year capacity at the end of October this year.
ASX: Reserve and Resource Statement as at 30 June 2016 2016-09-06
Evolution sells Pajingo to Chinese for A$52m 2016-08-16Gold miner Evolution will sell the Pajingo gold mine and surrounding exploration tenements in North Queensland to an emerging Chinese miner for up to A$52-million, the ASX-listed company announced on Tuesday. Minjar Gold will pay A$42-million in cash upfront for the gold mine, which started operating 30 years ago, as well as a 1% net smelter return royalty of up to A$10-million for gold production above 130 000 oz.
ASX: Agreement to Divest Pajingo Gold Mine 2016-08-15
ASX: Drilling underway at Baggy Green gold prospect 2016-10-16
ASX: Baggy Green drilling to add to Barns gold resource inventory 2016-09-20
Adelaide Resources Ltd secures $290,000 for Eyre Peninsula drilling 2016-08-16
Adelaide Resources Ltd (ASX:ADN) is well positioned to advance its Eyre Peninsula projects following the award of two PACE discovery drilling grants of up to $290,000 by the South Australian Government.
Significantly, changes made to the PACE scheme for 2016 increases both the maximum grant value and broaden the base of claimable items to include elements such as assays.
The first grant is for up to $200,000 to test gold targets located in the vicinity of the Barns gold deposit where Adelaide recently announced a maiden resource of 107,000 ounces gold.
The co-funding grant will see drilling completed at Baggy Green, Empire, Barns West and Barns South - four prospects which returned gold intersections in drill holes completed more than ten years ago.
Targets to be tested at Baggy Green and Empire include anomalies defined by biogeochemistry and field portable x-ray fluorescence (FPXRF) soil geochemistry.
Adelaide is looking to advance its R&D program which is investigating the use of biogeochemistry and FPXRF as new exploration methods in the district.
Additionally, the company’s Thurlga JV with Investigator Resources Ltd (ASX:IVR) is exploring an Eyre Peninsula tenement for silver, gold and other minerals.
The second grant of up to $90,000 will see the JV drill six recently defined geochemical and geophysical targets.
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.
ASX: Maiden 107,000 ounce gold resource for Barns deposit 2016-07-18
ASX: Lithium brine potential expanded with 2 new salt lakes 2016-05-29