Aankondiging • Apr 26
DiscovEx Resources Limited, Annual General Meeting, May 24, 2024 DiscovEx Resources Limited, Annual General Meeting, May 24, 2024, at 11:30 W. Australia Standard Time. Location: PKF Boardroom, Level 5 , 35 Havelock Street West Perth Australia Agenda: To consider change to nature and scale of activities; to issue of share to latitude shareholders in consideration for proposed acquisition; to approval issue shares under the public offer; to approval issue options; and to discuss other matters. Aankondiging • Apr 06
DiscovEx Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million. DiscovEx Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012 Aankondiging • Oct 24
DiscovEx Resources Limited, Annual General Meeting, Nov 23, 2023 DiscovEx Resources Limited, Annual General Meeting, Nov 23, 2023, at 09:30 W. Australia Standard Time. Location: PKF Boardroom, Level 5 35 Havelock Street, West Perth WA Australia Agenda: To receive and consider the financial statements of the Company for the year ended 30 June 2023, together with the Directors' Report and the Auditor's Report as set out in the Annual Report; to consider Non-binding resolution to adopt Remuneration Report; to consider re-election of Director Heath Hellewell; and to consider additional 10% Placement Capacity. New Risk • Sep 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.0m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Revenue is less than US$1m (AU$183k revenue, or US$117k). Market cap is less than US$10m (AU$8.26m market cap, or US$5.26m). Aankondiging • Jan 31
DiscovEx Resources Limited Provides Sylvania Exploration Update DiscovEx Resources Limited announced that statutory approvals have been received from the Department of Mines, Industry Regulation and Safety relating to the grant of E52/3887 within the Sylvania Project, Newman WA. The tenement is located on the southern margin of the Archaen Sylvania Inlier and is prospective for gold and base metal mineralisation. Following the grant of the tenement, exploration activities were immediately started including the completion of a gravity survey at the Murphy's Prospect. The survey identified potential Archaen greenstone within the Sylvania Inlier, with this prospective geology located close to the contact with the overlying sediments of the Bangemall Basin. The location of this prospect area issignificant given the 2.29Moz Karlawinda Deposit 2 is located in a geologically analogous position approximately 57km to the east. Historic drill defined gold mineralisation at the Jim's Vein and Deadmans Hill prospects in neighbouring tenure are also located in a similar setting, approximately15km to the east and 5km to the west respectively. The E52/3887 tenement straddles the southern margin of the Sylvania Inlier, ~5km east of theDeadman's Hill greenstone belt and ~57km west of the Karlawinda Gold Project. The majority of the southern margin is obscured by recent transported sands and alluvium, making it difficult to determine exactly where the Sylvania Inlier is in contact with the overlying Fortescue Groupand Bangemall Basin sediments. To provide additional confidence to the existing airborne magnetics data, a gravity survey was completed to confirm the location of this contact as well as providing additional information on a 2.5km long by 2km wide magnetic anomaly north of the interpreted contact.Results from the gravity survey, which was completed on 250m x 250m centres have confirmed the location of the Sylvania Inlier contact and also generated a gravity high north of the contact, coincident with the magnetic anomaly. These two elevated geophysical responses are interpreted asrepresenting buried Archaen greenstone of the Sylvania Inlier and is a significant target area that will be drill tested once heritage and statutory compliance approvals have been received. Geochemical sampling was completed at the Contact Prospect and included 37 surface sampleassayed for a full suite of geochemical elements. Rock chips were selectively sampled targeting exposed rock and weathered saprolite where well developed foliation and fuchsite alteration was observed. This semi-continuous zone of shearing and alteration has been mapped over a strikelength of ~2.5km and is almost exclusively hosted within mafic lithologies. Occasional <1m wide pegmatite occurrences were also noted as part of the sampling exercise and were submitted for analysis. Results have confirmed that the Contact shear zone is mineralised along its length, with higher tenor gold results often present as the structure becomes proximal to a strike parallel banded iron unit. Assays up to 0.13g/t Au (130ppb Au) were returned within this area and were often coincident with additional pathfinder elements including elevated antimony and silver, with assays peaking at 4.12 ppm and 1.08ppm. A request has been lodged with Traditional Owners for Heritage clearance of several lines for first pass AC drilling, not only where surface mineralisation has been observed, but also to the north- west where the structure continues towards the Nanjilgardy Fault. The intersection between this regionally significant structure and the contact shear zone is completely obscured by transported cover but is a compelling target area for future investigation. Aankondiging • Nov 07
Carnaby Resources Limited Announces Excellent Initial Metallurgical Test Work Results from Nil Desperandum and Lady Fanny Copper Gold Discoveries at Greater Duchess Copper Gold Project in Mt Isa, Queensland Carnaby Resources Limited announced excellent initial metallurgical test work results from the Nil Desperandum and Lady Fanny copper gold discoveries at the Greater Duchess Copper Gold Project in Mt Isa, Queensland. Greater Duchess Copper Gold Project: Australian Minmet Metallurgical Laboratories (AMML) was contracted by Carnaby to complete the first pass flotation study on two composites, one 31 kg sample (LMFT001) from Lady Fanny diamond core and a 43 kg composite (NDMT001) from Nil Desperandum diamond core. A head sample was riffle split from one of the portions, pulverised and sent to ALS in Brisbane for chemical analysis. Flotation was completed at the two different grind sizes, utilizing PAX as the collector and MIBC as the frother. The collector was stage added with an initial dose of 40 g/t, floated for 2 minutes (two separate concentrates), a subsequent 20 g/t PAX was dosed and floated for a further 5 minutes before a final 20 g/t of PAX was added and then floated for a further 10 minutes. The kinetic results of the rougher tests at 150 and 75 micron are displayed for both samples. The copper minerals floated quickly with greater than 90% of the copper having floated in the first two minutes (first two staged concentrates). The finer grind size at a P80 of 75 micron had a very marginally quicker float response compared to that of the 150 micron. The next stage with a total flotation time of 7 minutes brought the recovery up to ~ 99% copper for both samples. Two stage cleaner tests were then completed at the P80 75 micron with the results displayed. Cleaning proved effective at improving grade with minor losses of copper recovery. For NDMT001 a recleaner concentrate of 23.2% copper at 98% copper recovery was obtained. For LMFT001 a recleaner concentrate of 17.3% copper at 99% recovery was obtained. The preliminary test work results are considered to be very encouraging. Additional recommendations in future test work to improve concentrate product grades include flotation with a selective copper sulphide collector (IPET) and utilising an elevated pH (roughing and/or cleaning) to reduce the flotation of iron sulphides. The test work also highlighted high gold recovery into the recleaner copper concentrate for both samples which may indicate an association between the copper bearing minerals and the gold present in the sample. A good correlation of gold recovery versus copper recovery is shown. The metallurgical test work completed and reported represents only the first scoping level stage. More extensive metallurgical studies will be completed in the future. The samples selected for the flotation test work are considered to represent a core fresh rock section through each deposit, without being an extensive sampling program through the whole deposit. No oxide or transitional metallurgical testing was completed in the first pass metallurgical analysis because the oxide /transitional at both Nil Desperandum and Lady Fanny is very shallow (approx. 10m) and is considered to form only a minor amount of a future Mineral Resource with the bulk of mineralisation hosted in fresh rock. Future studies will also test oxide and transition characteristics. Aankondiging • Sep 23
DiscovEx Resources Limited Provides an Update on Activities from the Sylvania Project in Western Australia DiscovEx Resources Limited provided an update on activities from the Sylvania Project, located approximately 15km south of Newman in Western Australia, including the receipt of all aircore results from the recently completed phase one aircore drill program. A total of 109 holes for 6,060m were completed with drilling conducted at an initial 5 prospect areas previously defined by a multi-staged soil geochemistry program. This work program represents the first ever drilling completed in the area, specific for gold and base metals with historical drilling targeting iron ore potential. The results returned from this first round of drilling provide valuable information that will be used to refine the geological and structural understanding within the Sylvania Project tenements, and to further progress additional prospects to a drill ready stage. Significant gold results include 4m@76ppb Au (SYAC005) and 4m@68ppb Au (SYAC040). The results have highlighted a number of key structures which may potentially influence gold deposition within the Archaean basement and Fortescue-age rocks. Drilling also provided much needed and very useful information with respect to the complex regolith regime in the Northern Sylvania Dome. This information has enabled Discovex to prioritise a number of recently generated geochemical targets, including the high priority Contact prospect, for future drilling programs once the relevant heritage and statutory approvals can be obtained. Interestingly a number of significant base metal intersections were returned including 1m@0.15% Ni and 0.03% Co (SYAC067) and 4m@0.11% Ni (SYAC064) from a previously unrecognised older Archaeanultramafic unit, and 4m@0.12% Cu (SYAC092) and 4m@0.26% Zn (SYAC091) from weathered chert and dolerite within the Fortescue sequence. The significance of these results is yet to be determined, however provide promising targets to further assess the base metal potential of the greater Sylvania Project area. The execution of a Heritage Agreement over the Prairie Downs Resource and surrounding areas will allow exploration activities over these areas to ramp up in the coming months. Aircore Drilling: The initial phase of reconnaissance aircore drilling included 3,639m at the Peak Prospect, 201m at Dingo,806m at Carneys, 956m at Bondinis and 458m at Hilditch. The work program was designed as a first-pass test of several geochemical anomalies, to gain a better understanding of the anomalous gold and base-metal distribution as it relates to geology, structure and regolith profile. In turn the program was also a test of the effectiveness of the drilling technique in areas of sporadic outcrop. The development of the weathered bedrock profile was variable and hence restricted the depth penetration of aircore drilling within certain prospect areas where there was limited regolith development, particularly at Hilditch and Dingo. Drilling at the Peak Prospect, which was designed to test beneath a large 2.5km long +4ppb Au anomaly, replicated the surface anomaly however intersected a deeper than anticipated overburden channel with depths of up to ~100m. Lithological units intersected beneath this channel are associated with greenstones of the Sylvania Inlier and included felsic volcaniclastics, dolerites and granites. Shearing, minor alteration (inclusive of chlorite + pyrite) and quartz veining was intersected, returning anomalous gold (up to 76ppb Au) and copper (up to 354ppm Cu). The intersected structures show visual and geochemical evidence of being part of a broader mineralised structural network, which is highly encouraging and highlights the potential of the area to host economic structural hosted gold mineralisation. Similar geochemical results were also returned form the Dingo Prospect, with a best intersection of 4m@68ppb Au from 4m (SYAC040). The anomalous result is hosted within a moderately sheared and chlorite altered east-west trending dolerite, with the shear orientation interpreted as being sub-parallel to north-west trending structures identified from surface mapping and geophysics. These are likely related to those shear zones intersected in drilling at the Peak Prospect. The regolith profile within this part of the project is almost entirely stripped with drill penetration reaching depths of less than 10m. Due to the resultant lack of geochemical dispersion, and hence a limited geochemical footprint, structure and geological observation is key to unlocking the potential of prospect. Aankondiging • Sep 14
DiscovEx Resources Limited, Annual General Meeting, Oct 13, 2022 DiscovEx Resources Limited, Annual General Meeting, Oct 13, 2022, at 11:30 W. Australia Standard Time. Location: PKF Boardroom, Level 5 35 Havelock Street West Perth Western Australia Australia Agenda: To consider nonbinding resolution to adopt Remuneration Report; to consider Reelection of Director Kim Massey; to consider Additional 10% Placement Capacity; and to consider other matters. Aankondiging • Aug 25
DiscovEx Resources Limited Update to Exploration Activities At the Edjudina Project,WA DiscovEx Resources Limited provided an update to exploration activities at the Edjudina Project, located approximately 250km north-east of Kalgoorlie, WA. Following the definition of the Spartan anomaly through systematic soil sampling, DiscovEx has continued to refine this target through the completion of a 200 x 200m gravity survey. This survey was designed to provide greater clarity on the distribution of intrusive rocks and how they relate spatially to the location of Spartan, as well as providing additional information regarding the structural frameworkin and around these intrusives. Results from this survey have been used to refine the proposed drill programme, which is expected to begin immediately. The aircore programme will test beneath the surface gold anomaly at Spartan with additional holes planned to test several other target areas. Together with the drill program, infill soil sampling will be completed at the Falcon Prospect, currently defined as a 2.6km long, +15ppb Au anomaly peaking at 48ppb Au. Following the identification of the Spartan anomaly and prior to the planning of the current phase 1 AC programme, Atlas Geophysics was engaged to complete a 200 x 200m gravity survey, centred on the Spartan anomaly. The survey was designed to provide detailed context around the geological setting of the prospect area, complementing the existing detailed magnetics. Interpretation of the geophysical information has confirmed the location of a large, intrusive body to the south of the anomaly as well as a smaller, potentially structurally displaced intrusive body to the west of the anomaly. Together with the elevated geological confidence, the gravity survey has also provided complimentary information around the presence of large-scale north-south structural breaks that appear to wrap around the younger intrusive body to the south. Current drilling, which began has been planned to test the extents of the +50ppb Au anomaly as well as the northern extension to the north-south structural trend. Drilling is anticipated to be completed in mid-September with results expected to be returned early in the next quarter. Aankondiging • Aug 08
DiscovEx Resources Limited Provides Exploration Update DiscovEx Resources Limited provided an update to exploration activities within its highly prospective portfolio of greenfields exploration assets. This includes the completion of an aircore drill program at the Sylvania Project, located approximately 15km south of Newman, WA and the initiation of a gravity survey at the Edjudina Project, located approximately 250km north-east of Kalgoorlie, WA. Aircore drilling was completed on Saturday the 6th of August with a total of 6,060m completed, including 3,639m at Peak, 201m at Dingo, 806m at Carneys, 956m at Bondinis and 458m at Hilditch. Prospect areas have been generated, refined and ranked over the past twelve months through multiple soil and rock chip sampling programs, combined with field mapping and geophysical interpretation. Of the five prospect areas targeted by drilling, Peak, Dingo, Carney and Bondinis are all interpreted as being associated with Archaen greenstone lithologies of the Sylvania inlier with the anomaly at Hilditch being spatially associated with basalts and dolerites of the Fortescue Group, similar to those rocks identified at the nearby (6km away) Peninsular Prospect, recently defined by Peregrine Gold. These drillholes are the first recorded gold specific exploration holes to be drilled within the tenement area with much of the historic exploration centred on iron ore. Initial 4m composite samples have been dispatched for analysis with results anticipated to be returned in September. Follow up activities at the Spartan Prospect have continued with the completion of a Heritage assessment, and the initiation of a gravity survey. The planned geophysics will cover a 7km x 7km area centred on the Spartan anomalous trend, to better understand the underlying geology and the potential impact of the multiple interpreted intrusives proximal to the target. The survey will be completed on 200m station spacings and is expected to be ongoing for two weeks. Results will be used to refine drill hole locations for the proposed aircore program expected to begin in early September. Aankondiging • Jul 21
Discovex Resources Limited Announces Infill Surface Sampling Upgrades Spartan Anomaly DiscovEx Resources Limited announced that infill and extensional soil sampling results have been received from the highly encouraging Spartan anomaly, located within the Edjudina Project, approximately 250km north-east of Kalgoorlie, WA. Infill sampling was designed to confirm the dimensions of the original anomaly with these latest results correlating well with the first phase of sampling. The target area remains approximately 1.8km in length and 500m in width (@ +25ppb Au) and now includes several +100ppb Au (0.1g/t Au) results, peaking at 544ppb Au (0.54g/t Au). In addition to the samples collected at Spartan, results were also received from a regional program, which has highlighted an additional target area approximately 3.5km to the east, known as the Falcon Prospect. This target is characterised by a 2.6km long +15ppb Au anomaly that remains open to the north. Following the identification of the Spartan anomaly, an additional program of soil sampling was initiated to better understand the distribution of results not only within the anomaly, but also more regionally. Infill sample spacing was completed on 100 x 100m centres with significant results returned including 108ppb Au, 110ppb Au, 120ppb Au, 124ppb Au, 171ppb Au, 241ppb Au, 244ppb Au and 544ppb Au. The continuity and consistency of results within the anomaly is extremely encouraging, particularly considering the background gold-in-soil levels at Edjudina are generally in the order of ~2-3ppb Au. Results of this tenor and scale defined in a greenfields exploration environment are not common and the Company is extremely excited to progress the exploration efforts towards a first-pass AC drilling program, scheduled to begin towards the end of the current quarter. Together with the infill sampling, a regional program (east, south and north of Spartan) was also completed, with samples collected on 400 x 200m centres. This program was designed to test various N- S and NE-SW trending structures identified from geophysics (magnetics), that were interpreted as having a spatial association with the defined anomaly. Of particular interest is a large flexure in a N-S trending structure, likely caused by multiple intrusive bodies located to the south and west. This trend appears to change orientation around and in between these individual intrusives, potentially providing greater opportunity for structural dilation and associated mineralisation to occur. Separate from the Spartan anomaly, and located approximately 3.5km to the east, an additional anomalous trend has been identified, and includes a 2.6km long, +15ppb Au anomaly peaking at 48ppb Au. This anomaly remains open to the north and requires additional sampling to be completed to better define its extents. Sampling will be completed towards the end of the quarter to coincide with proposed drilling activities. Aankondiging • May 23
DiscovEx Resources Limited Announces New Geochemical Anomalies Light Up Sylvania Project DiscovEx Resources Limited announce that recent surface geochemical sampling at the Sylvania Project, located 15 km south-west of Newman, WA has identified multiple coherent gold anomalies coincident within prospective Archaen greenstones. Surface sampling has been completed at the Contact Prospect, with several +15ppb Au anomalous trends delineated over a strike length of approximately 2km. All gold anomalies are predominantly associated with a sequence of volcanic sandstones, basalt and banded iron formation interpreted as being analogous in age to those rocks that host the 2.1Moz Karlawinda Project1, located approximately 60km to the south-east. Heritage surveys have been requested from the Traditional Owner group to clear areas for a first-pass drilling campaign. A program of 283 surface geochemical samples was completed on a 100 x100m grid pattern over the Contact Prospect, including both soil and rock chip samples. The sampling program was designed to test a north-west trending sequence of prospective volcanic sediments, fine-grained mafics and banded iron formation which form part of the Sylvania inlier, an area identified as being Archaen in age and prospective for gold mineralisation. Much of the area is exposed in outcrop or subcrop, with detailed mapping identifying numerous quartz veins and pegmatites spatially located at the contact between mafics and sediments, likely representing a structurally controlled north-west trending contact zone. In addition to this large-scale structural trend, numerous north-east structures were also mapped that truncate lithology and potentially represent a larger fluid pathway network controlling mineralised fluid flow. The anomalous gold results returned from this most recent survey have generated multiple anomalous trends coincident with these north-east trending structural breaks, with three individual zones of +10ppb Au anomalism returned over a strike length of approximately 2km. The best result returned included a single sample with a grade of 90.2ppb Au (0.09g/t Au), sampled from an outcropping quartz vein. In addition to the elevated Au geochemistry, multiple pathfinder elements were also enriched through these fluid pathway zones including elevated arsenic (up to 84ppm), silver (0.38g/t) and antimony (up to 2.2ppm). Aankondiging • Apr 12
DiscovEx Resources Limited Announces Exploration Continues At Sylvania DiscovEx Resources Limited announced that exploration activities have commenced at the Sylvania Project for the 2022 field season. The Sylvania Project is located approximately 15km south of Newman, WA. Recently completed exploration works include regional geophysics (gravity), geochemical sampling and a heritage survey, with mapping, sampling and induced polarisation (IP) geophysics to continue over the coming months. Work has been focussed on refining existing targets as well as identifying additional prospective structures that could host both gold and base metal mineralization. Having completed heritage surveys over several key target areas, DiscovEx now plans to undertake its maiden drill program in the third quarter of the 2022 calendar year once a drilling contractor can be confirmed. Gravity Survey: An extensive phase one gravity survey covering prioritised parts of the Sylvania Project has now been completed, with all terrain corrected data reviewed and processed. A total of 2,521 stations were recorded over an area of 286.4km2 with station spacing completed on 400 x 200m centres regionally and a high-resolution area completed west of the Prairie Downs Resource on 20 x 40m centres. The purpose of the survey was to provide complimentary information to the existing geophysical, geological and structural datasets to aid in target generation particularly as it relates to areas beneath cover (both transported and younger Proterozoic rocks). Data received from the gravity technique can be used to differentiate heavier bodies (mafic greenstones) from surrounding lighter rocks (granites) and therefore better target these more prospective areas. Together with rock density variation, the technique can also provide supporting information within a structural context, particularly as it relates to the regional architecture of the Project area, inclusive of the Prairie Downs Fault zone. The survey has highlighted several geological and structural target areas, in particular the newly defined Kelpie Prospect and the Prairie Downs West Prospect. Multiple structures that strike sub-parallel to the Prairie Downs base metal trend have also been interpreted, with many of these identified beneath younger Proterozoic sediments. Kelpie Prospect: The Kelpie Prospect is located proximal to the Spearhole detrital iron Inferred Resource of 1,400Mt at 23.5% Fe and is interpreted as being a potential repetition of the Spearhole Greenstone, located immediately to the north. This 6km long potential buried greenstone sequence is not well defined in the airborne magnetics data due to up to 25m of iron-rich detrital channel fill within the transported cover sequence and is an additional target zone prospective for gold and nickel-copper mineralization. Historic shallow drilling has been completed within the Spearhole Resource area however much of this drilling was targeting the overlying detrital material and hence has not adequately tested the basement rocks in the core of the gravity anomaly. Prairie Downs West Prospect: The Prairie Downs Fault Zone (PDFZ) is a regionally significant mineralized structure which has been defined through mapping of outcrop exposure over 8km strike length. It is host to several Zn-Pb-Ag-V mineralized prospects including Husky, Wolf and Prairie Downs. The fault zone is likely to be continuous east and west from its defined position, however is obscured by overlying Proterozoic geology and transported sediments. A high-resolution (20 x 40m) portion of the gravity survey was completed to the west of the defined PDFZ to provide more detailed information through this area of cover with initial interpretation confirming the fault zone continues for at least a further 11km to the west. This updated interpretation has highlighted the area as a compelling target area for base metal exploration. Importantly, no historic exploration has ever been focussed on the western extension to the fault zone. Further geophysics in the form of Induced Polarisation ("IP") will be proposed to better target the western continuation of the PDFZ for drill investigation. Both drilling and IP geophysics is planned in the September quarter of 2022. Aankondiging • Jan 25
DiscovEx Resources Limited Announces Composite Assay Results Have Been Returned from Aircore Drilling Completed At the Octavia Prospect DiscovEx Resources Limited announced that composite assay results have been returned from aircore drilling completed at the Octavia Prospect, located approximately 250km north-east of Kalgoorlie, Western Australia. Drilling results include several +0.5g/t Au intersections, spatially associated with the highly mineralized Celia Shear, which is host to the recent Gibb River Diamonds Neta gold discovery. Results show a coherent supergene anomaly and provides encouragement that this structure remains prospective for significant gold mineralisation at depth. Additionally, encouraging results have been received from a regional soil sampling program that was completed at the Hornet East and Jaguar Prospects. Assay results from the recently completed aircore drilling program at the Octavia Prospect have now been returned, with broad low-level gold mineralisation identified in multiple holes within the 2.5km long target zone. A total of 49 aircore drillholes for 4,403m was completed in November 2021 with initial 4m composite results now returned. All holes were drilled to the south-west and completed on 200 x 80m centres. Drilling was centred on the continuation of the Celia Shear north-west of the recent Neta Lode discovery, as the structure intersects an interpreted fold hinge in the local geology. A 2.5km long zone of this structural trend remained untested by drilling and was the focus of the drill program. Historic intersections within the DiscovEx tenement that are coincident with the location of the shear zone returned significant intersections of 5m @ 3.3g/t Au from 68m (HGRC001) and 2m @ 6.6g/t Au from 60m (CEJRB065). Within this latest round of drilling, numerous elevated gold results were returned sub-parallel to the regional trend of the Celia Shear. Mineralisation generally occurred as a supergene blanket close to the base of complete oxidation with best intersections of 20m @ 0.48g/t Au from 52m including 8m @ 0.87g/t Au (EDAC077), 16m @ 0.37g/t Au from 80m including 4m @ 1.03g/t Au (EDAC077) and 24m @ 0.18g/t Au from 52m including 4m @ 0.49g/t Au (EDAC115). The broad, low-level and flat lying supergene blanket suggests the gold is being generated by a deeper primary source that has not been intersected by the drilling. This primary source is potentially higher grade however is likely to be at depths greater than 100m. Drilling intersected predominantly mafic schist and andesite lithologies with minor interbedded shale and banded iron formations. Quartz veining occurred throughout the sequence, often coincident with geological boundaries. Elevated pyrite (up to 3%) was noted within those holes drilled on the north-eastern edge of the tenement. Lithologies are interpreted as dipping at 60o to the north-east. A regional soil sampling program was completed in late 2021 consisting of 759 samples on 100 x 200m and 100 x 400m spaced patterns. The program was designed to target extensions to soil anomalies generated from previous programs at both the Hornet East and Jaguar Prospects (located approximately 30km east of Octavia). Samples were sieved to -177um prior to being analysed for Au and a suite of multi-elements. Results at the Hornet East Prospect show a continuous +10ppb gold anomaly, open to the south and with significant single results of 0.14g/t Au (SNS09559) and 0.10g/t Au (SNS09573). The current anomaly has been defined across multiple sample lines (both recent and historic) and extends for approximately 1.2km. AC drilling was completed by DiscovEx in early 2020 over the western edge of the anomaly however the core of the anomaly has yet to be tested with drilling. The current anomaly appears to be spatially associated with a younger granite to the south with this position potentially in a favourable structural trap consistent with pressure shadow type mineralisation. Results at the Jaguar Prospect located approximately 5km to the south-west of Hornet East, also show multiple +10ppb gold trends that remain open to the south. Anomalies are more discrete than those observed at Hornet East however are very significant given lack of exploration that has been completed in the area. Further sampling is required to follow-up anomalies generated at both Hornet East and Jaguar and will begin within the first quarter of 2022. Aankondiging • Dec 19
Discovex Resources Limited Announces Spectacular Copper Discovery At the Nil Desperandum Prospect DiscovEx Resources Limited announce a spectacular copper discovery at the Nil Desperandum Prospect within the Greater Duchess Copper Gold Project in Mt Isa, Queensland. An RC /diamond hole, NLDD044 has intersected a 34m downhole interval of strong copper sulphide (chalcopyrite) mineralisation which includes a 24m downhole zone of semi massive copper sulphide. NLDD044 was designed to target an Induced Polarisation (IP) chargeability inversion anomaly coincident with the predicted plunge of the Nil Desperandum main shoot breccia zone. NLDD044 intersected the very strong zones of copper mineralisation at the exact location of the IP chargeability anomaly. It is almost certain that the IP anomaly is being caused by the copper sulphide mineralisation intersected in NLDD044. The mineralisation remains completely open at depth to where the IP chargeability anomaly is getting stronger and completely open to the southwest along strike and down plunge. Board Change • Sep 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman Heath Hellewell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman Heath Hellewell was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Aug 24
SI6 Metals Limited (ASX:SI6) completed the acquisition of Monument Gold Project from DiscovEx Resources Limited (ASX:DCX). SI6 Metals Limited (ASX:SI6) signed a definitive agreement to acquire Monument Gold Project from DiscovEx Resources Limited (ASX:DCX) for 0.58 million on July 26, 2020. Si6 has payed an option fee of AUD 25,000 cash and AUD 50,000 in cash and/or shares (Cash/Share Payment, split at Si6’s election). Within 6 months of the date of execution of the Heads of Agreement, Si6 will pay further consideration of AUD 50,000 cash and another AUD 50,000 Cash/Share Payment (split at Si6’s election). The remaining consideration of AUD 0.4 million (payable in full by cash or AUD 0.1 million in cash and AUD 0.3 million case/share split at Si6’s election) will be funded via the Company’s existing cash position of circa AUD 4.6 million and any Shares issued. The transaction is subjected to the Parties obtaining any necessary ministerial, governmental, native title or other third-party consents for the transfer of the Project tenements, Si6 completing legal, financial and technical due diligence, Si6 and DCX obtaining all necessary shareholder approvals, all necessary third-party consents and approvals. The agreement came after exercising and option for acquisition. It is expected that settlement will occur on or around August 26, 2021.
SI6 Metals Limited (ASX:SI6) completed the acquisition of Monument Gold Project from DiscovEx Resources Limited (ASX:DCX) on August 23, 2021. The final consideration amount of AUD 400,000 was paid in both cash and shares, AUD 100,000 cash and AUD 300,000 worth of shares were issued. The shares were issued under SI6 Metals existing capacity under ASX Listing Rule 7.1. A total of 34,883,721 fully paid ordinary shares were issued as consideration under the option agreement regarding the Monument Gold Project. Aankondiging • Jun 01
DiscovEx Resources Limited Provides Sylvania Project Update DiscovEx Resources Limited provided an update on exploration at the newly acquired Sylvania Project, located approximately 12km southwest of Newman, Western Australia. A detailed regional aeromagnetic survey was recently undertaken to complement existing geophysical coverage, the completed survey provides the first of several key base layer data sets that will be used in the generation of multiple prioritised drill targets across the project. In conjunction with the aeromagnetics, the Company has also initiated a largescale program of surface geochemical sampling to underpin future target generation. The completion of the highresolution aeromagnetic survey at the Sylvania Project now provides a detailed base layer data set, which when combined with historic data will provide a robust tool in the ongoing evaluation of the project. This new geophysical data has been integrated into historic datasets for use in the interpretation of a geological and structural model to better target areas that have the potential to host gold and base metal discoveries. The survey, which consisted of 50mspaced lines was completed over poorly understood areas and is the first meaningful work completed since the mid 90's. A total of 19,323 line km's were flown over the northern, southern and western areas with 50m linespaced data now consistent across the entire project. This now provides a robust baselayer of information to be used for the understanding of structure, geology and controls on mineralisation that will aid in future target generation. Of particular interest are several areas of previously unknown interpreted buried greenstone rocks in the northern blocks as well as potential mafic intrusives within the southern areas. A detailed interpretation of the data is ongoing. Together with the airborne magnetics survey, soil sampling activities were initiated in early April with over 3,000 samples collected within the granted northern tenement areas. Samples were collected on a 400 x 200m grid pattern with all samples now submitted for analysis. Results are expected by late June. Anticipated future works include the ground checking of all generated anomalies as well as infill sampling programs if required. In addition to the sampling being completed at the Sylvania Project, further surface sampling is planned the Billinooka Project, with approximately 1,000 samples proposed. Aankondiging • May 20
DiscovEx Resources Limited Reports All Single Metre Resplit Assays At the Newington Gold Project DiscovEx Resources Limited reported all single metre resplit assays have been returned from RC drilling completed at the Newington gold project, located approximately 80km north of Southern Cross. Single metre resplit sampling results, previously reported as 4m composites have upgraded the original assays and confirmed the presence of highgrade mineralisation at the Dawsons Prospect. Mineralisation is hosted within a narrow highgrade quartz vein and remains open at depth. Single metre resplits from RC drilling completed late last year has returned a significant result of 2m at 10.0g/t Au from 106m, including 1m at 13.5g/t Au. This result complements previous intersections from the Dawsons Lode including 4m at 16.6g/t Au from 83m (CSRC031), 2m at 17.5g/t Au from 76m (SNWRC010), 2m at 13.0g/t Au from 146m (SNWRC014) and 1m at 20.0g/t Au from 105m (CSRC036). Mineralisation has now been delineated over a 60m strike length with highgrade results concentrated proximal to a geological contact between mafic and ultramafic rocks. This basal part of the mafic unit may represent a favourable position within the host geology and will be the focus of followup exploration works. In addition to this, a number of other target areas have been identified for followup RC drilling, including the northern extension to the Newfield Central mineralisation, particularly where it intersects the projection of the eastwest trending Dawsons Lode. Additional resplit results have been returned from the Hawthorn Prospect with best intersections of 2m at 2.5g/t Au, 1m at 1.4g/t Au and 3m at 1.1g/t Au, all within hole NERC012. Mineralisation is hosted within banded iron formation and remains open along strike. Executive Departure • Apr 28
MD & Executive Director has left the company On the 23rd of April, Bradley Drabsch's tenure as MD & Executive Director ended after 1.4 years in the role. As of December 2020, Bradley personally held 12.50m shares (AU$100k worth at the time). A total of 2 executives have left over the last 12 months. Aankondiging • Mar 12
DiscovEx Resources Limited (ASX:DCX) completed the acquisition of Lighthouse Resources Holdings Pty Ltd from group of sellers. DiscovEx Resources Limited (ASX:DCX) agreed to acquire Lighthouse Resources Holdings Pty Ltd from group of sellers for AUD 2.4 million on January 18, 2021. As per terms of transaction, consideration to be given by DiscovEx Resources Limited for the acquisition of Lighthouse will be a total of 337.5 million new fully-paid ordinary shares in DiscovEx Resources Limited. Gateway currently holds an interest of approximately 26.8% of Lighthouse, which means that on completion of the transaction it will receive approximately 90.48 million shares of the consideration shares. On completion. Gateway will hold a total of 116.79 million shares in DiscovEx Resources Limited, which will represent a shareholding of approximately 4.55% in DiscovEx Resources Limited, assuming the maximum amount is raised under DiscovEx Resources Limited’s proposed AUD 4 million capital raising.
Post completion, Peter Langworthy will step-down from his position as Non-Executive Chairman of DiscovEx Resources Limited and founding Director of Lighthouse, Heath Hellewell will be appointed to this position and Kim Massey will be appointed to the DiscovEx Resources Limited Board as a Non-Executive Director. Transaction is subject to shareholder approval of DiscovEx Resources Limited, DiscovEx Resources Limited obtaining all regulatory consents and all approvals required from the ASX, receiving executed restriction agreements for some of the consideration shares and DiscovEx Resources Limited completing a placement to raise at least AUD 3.5 million. The transaction is approved by the shareholders of DiscovEx Resources Limited. Transaction is expected to complete by April 30, 2021.
DiscovEx Resources Limited (ASX:DCX) completed the acquisition of Lighthouse Resources Holdings Pty Ltd from group of sellers on March 11, 2021. Peter Langworthy has stepped-down from his position as Non-Executive Chairman and director of DCX and Heath Hellewell, founding director of Lighthouse, has been appointed to this position. Kim Massey has also been appointed to the DCX Board as a Non-Executive Director. Executive Departure • Mar 11
Independent Non-Executive Chairman Peter Langworthy has left the company On the 11th of March, Peter Langworthy's tenure as Independent Non-Executive Chairman ended after 9.0 years in the role. As of December 2020, Peter personally held 19.45m shares (AU$156k worth at the time). Peter is the only executive to leave the company over the last 12 months. Aankondiging • Mar 11
DiscovEx Resources Limited Announces Board Changes Capricorn Metals Ltd. is to become a substantial shareholder in DCX (approx. 12%) by participating in the proposed share placement. The company also welcomes Kim Massey to the DCX Board as a Non-Executive Director following completion of the Transaction. In addition, Mr. Heath Hellewell will take the role of Non-Executive Chairman (subject to completion of the Transaction), when Mr. Peter Langworthy steps down from the Board of the company. Aankondiging • Feb 25
DiscovEx Resources Limited Announces Newington Exploration Update DiscovEx Resources Limited is pleased to be able to update the market with respect to ongoing exploration at the Company's Newington Project, located 80km north of Southern Cross. Reverse circulation drilling results have now been received from four prospect areas including Dawsons, Hawthorn, Hawthorn North and Sweet William. Highgrade mineralisation has been confirmed at Dawsons and thick, shallow mineralisation has been intersected at Hawthorn. Twenty RC holes were drilled for a total of 1,785m to test beneath targets generated from the Company's surface geochemical survey completed in mid2020 and to complement previous drilling efforts at Dawsons. The Newington Gold Project is situated at the northern end of the Southern Cross Belt, 380km east of Perth. The Southern Cross Greenstone Belt is highly prospective, with nearby deposits including Ramelius Resources' 1.03Moz Edna May Gold Mine, as well as its recently acquired 700Koz Tampia Hill Gold Project and 373Koz Marda Gold Project. RC Drilling was completed in midDecember with twenty holes drilled for a total 1,785m across four prospect areas including Dawsons (three holes for 408m), Hawthorn (four holes for 518m), Hawthorn North (nine holes for 479m) and Sweet William (four holes for 380m). Holes were designed to test beneath soil anomalies as well as the strike extent of previously intersected highgrade mineralisation at the Dawsons Prospect. Strong gold mineralisation was intersected at the Dawsons Prospect. The RC drilling tested the eastern edge of an interpreted highgrade plunge as well as follow up previous intersections including 4m @ 16.6g/t Au from 83m (CSRC031), 2m @ 17.5g/t Au from 76m (SNWRC010), 2m @ 13.0g/t Au from 146m
(SNWRC014) and 1m @ 20.0g/t Au from 105m (CSRC036). All three drillholes completed within this program intersected the mineralised shear, with NERC020 returning significant mineralisation including 4m @ 3.3g/t Au from 104m. Logged geology suggests the mineralisation is hosted within a 2m wide quartz vein and remains open at depth. This result was sampled as a 4m composite with single metre splits of the individual metres to be collected immediately. This hightenor result, located approximately 11m from a previous drillhole that returned an assay result of 1m @ 0.4g/t Au, emphasises the variability of highgrade gold orebodies and the associated risk in dismissing lowtenor intersections within the host structure. The remaining two holes that were drilled to the east (NERC018 and NERC019), failed to return significant
mineralisation however did intersect minor veining within the structure suggesting potential still exists for
a repeat highgrade pod further to the east.
Future works will be concentrated on metallurgical testing of the highgrade material to determine the
amenability to conventional gravity and CIL gold extraction. Samples have been taken from SNWRC010,
SNWRC014 and NERC020 to produce a composite for the metallurgical sample. Aankondiging • Dec 31
OreCorp Limited (ASX:ORR) signed an agreement to acquire E31/1134 and E31/1150 Tenements from Gateway Mining Limited (ASX:GML) and DiscovEx Resources Limited (ASX:DCX) for AUD 0.2 million. OreCorp Limited (ASX:ORR) signed an agreement to acquire E31/1134 and E31/1150 Tenements from Gateway Mining Limited (ASX:GML) and DiscovEx Resources Limited (ASX:DCX) for AUD 0.2 million on December 31, 2020. OreCorp will issue 0.2 million shares as consideration. Gateway Mining will also receive 1.5% gross revenue. Gateway Mining Limited and DiscovEx Resources Limited will sell 20% and 80% stake respectively. In a related transaction, OreCorp Limited signed agreements to acquire E31/1121 Tenement, ELA31/1220 and P31/2118 Tenements and E31/1178 Tenement. Aankondiging • Oct 07
DiscovEx Resources Limited Announces Drilling Results Hornet Prospect Edjudina DiscovEx Resources Limited presented the results from its recently completed RC and diamond drilling campaign centred on the Hornet West Prospect at the company's Edjudina Project southeast of Laverton in Western Australia. A total of 2,470m of RC and 420.7m of diamond drilling were completed, focussing upon the significant supergene gold anomaly at the Hornet East prospect. Whilst the returned results confirmed the supergene anomalism, the lack of significant primary mineralisation indicates the source of the gold encountered previously may be more distal than originally anticipated. Further work is required to fully understand the nature of the distribution of the supergene gold. In the near term the exploration focus at Edjudina will turn to the generation of new targets within the broader project area along its 70km extent whilst further geochemical investigations are undertaken at Hornet in order to better understand the gold distribution there. The recently completed RC and diamond drilling programme at the Hornet Prospect, part of the Edjudina Project, southeast of Laverton in Western Australia, comprised 2,470m of RC and 420.7m of diamond drilling. The best result from the drilling was 4m @ 1.51 g/t Au from 40m, in hole HORC016. Intersected geology consisted of variably altered and sheared gneisses and granites. The gneisses were largely biotite, amphibole, feldspar and quartz rocks overprinted with weak to very strong biotite and occasionally pyrite alteration. The granites were largely unaltered and appear to have intruded the gneissic sequences. Aankondiging • Aug 11
DiscovEx Resources Limited announced that it has received AUD 0.7 million in funding On April 21, 2020, DiscovEx Resources Limited (ASX:DCX) closed the transaction. The transaction include participation from directors of the company.