Tag: drilling

Specialist Australian drilling services company DDH1 has declared higher unaudited pro-forma EBITDA of $74.8m, which is 7.9% higher than the forecast of $69.3m contained in its Initial Public Offering Prospectus. DDH1, which listed on the ASX in March, is a profitable WA-based drilling company servicing the mining and exploration sectors, and an industry leader in deep hole directional drilling. The improved performance was mainly due to revenue exceeding forecast by about 5%, $2.3m additional training incentives received and $1.6m lower depreciation than forecasted. Managing Director and CEO Sy Van Dyk said the preliminary results, which remain subject to finalisation and external audit, reflected a strong operating environment, DDH1’s market-leading position and ability to deliver in line with its growth strategy....

DRILLING is underway at Galileo Mining Ltd.’s (ASX: GAL) Fraser Range Nickel Belt tenements, which are highly prospective for nickel-copper sulphide deposits similar to the operating Nova mine. Anticipation ahead of the drilling program has been building with the company’s share price gaining more than 50% in July alone: investor attention has tuned into the Fraser Range, along with Galileo’s highly prospective nickel targets. The commencement of Galileo’s drilling program is lining up nicely with nickel price forecasts. Research firm Wood Mackenzie anticipates nickel consumption in electric vehicle batteries to soar 64% by 2025 from 2019 levels. Supporting that view is Elon Musk’s call last week for a lift in the mining and production of nickel. Musk said Tesla will...

AFTER intersecting a new high grade gold lode at its Kat Gap Project, Western Australian gold exploration and development company, Classic Minerals Limited (ASX:CLZ) has shifted its focus to preparing the project for production. The Kat Gap Gold Project is part of the group’s Forrestania Gold Project (FGP), located about 50 kilometres to the south-east of FGP’s Lady Ada and Lady Magdalene, where the main thrust of exploration at the Forrestania belt has taken place to date. The recent major discovery at the 100% owned Kat Gap tenements saw Classic identify very significant high-grade gold intersections, making it the main focus of Classic’s exploration, which designated Kat Gap as its “flagship project”. The company recently completed a total of 21...

ORICA and Epiroc Rock Drills are jointly developing a semi-automated explosives delivery system, enabling safer and more productive blasting operations in underground mines. As mines go deeper and ore bodies become more remote, the case for blasting automation becomes clearer. The partnership brings together the deep expertise and experience of two global industry leaders to address the growing demand from customers mining in increasingly more hazardous and challenging underground operations. Orica chief commercial and technology officer Angus Melbourne said the partnership with Epiroc allowed Orica to leverage its exclusive wireless initiating system, WebGen, to deliver the critical first steps towards the automation of drill and blast operations. “Automation is a key pillar of our technology strategy and supports our vision...

MIDDLE Island Resources starts 2020 with the announcement of a major drilling campaign at its Sandstone gold project in central WA. A wholly-owned subsidiary situated 400km NW of Kalgoorlie, Sandstone was acquired by Middle Island in 2016, which had a major interest in its 600ktpa gold processing plant. Originally opened in 1890, the site was acquired by Troy Resources in 1990, which worked the 4.4t open pit of ore grad 3.6g/t until 2010, producing 508,000oz of gold. With near record Australian gold prices, the company has made the decision to target 17 identified prospects and deposits, mainly located on existing permitted tenure and all within 5km of the processing plant. The campaign comprises a sequential series of aircore (AC), reverse...

KIRKLAND Lake Gold has announced new, high-grade results from both its Fosterville Operation in Victoria, and Canadian-based Macassa operations. Recent surface drilling at Robins Hill, Fosterville, has confirmed an extended mineralisation down-plunge of the existing mineral resource, outside of the current resource. Key drilling results that confirmed mineralisation at depth were 3.7mat 24.5g/t gold, including 1m at 82.3g/t gold; and 8.8m at 11.7g/t gold, including 0.5m at 81.7 g/t gold. Kirkland Lake Gold chief executive Tony Makuch said that the company believed there were “more Fostervilles at Fosterville” for a long time, and that Robbin’s Hill had emerged “clearly” as a second potential mining front to provide feed to the Fosterville mill. “Based on current drilling, we have already identified...