Davenport releases Inferred Mineral Resource update

By Justin Ware. Published at Apr 9, 2018, in Small Caps

Davenport Resources (ASX:DAV) has released its Inferred Mineral Resource estimate for the Johnnies Reward gold-copper deposit, which is part of its 100% owned Southern Cross Bore Project in the Northern Territory.

Prepared by Conarco Consulting, the Inferred Mineral Resource is 2.2 Mt at 0.7 g/t gold and 0.4% copper and contains 52,000 ounces of gold and 9,000 tonnes copper, which is a 1.4 g/t gold equivalent for 101,000 ounces gold equivalent.

Johnnies reward northern territoryThe mineralised domains have been interpreted using a combination of cross-sections, long sections and level plans.

A nominal 0.5 g/t gold equivalent cut-off grade has been employed to define the boundary between mineralised and un-mineralised material.

The estimate was prepared using a block model generated from 3D wireframes of two main domains.

The Johnnies Reward prospect is located near several other targets earmarked for follow-up exploration which include another outcropping gossan with anomalous rock-chip samples and historic copper workings.

However, as with all minerals exploration, success is not guaranteed. If considering this stock for your portfolio, do your own research and seek professional financial advice.

In addition, the Inferred Mineral Resources was modelled off historical drilling data at minimal cost to DAV, which will prioritise its potash assets in South Germany.

DAV Executive Director Chris Bain commented on the highly promising update, “The open nature of the Inferred Resource down dip and the trend for several hundred metres along the strike length highlighted by both magnetics and geochemistry suggests that there is scope to significantly extend this maiden resource,” he said.

Mineral Resource background

The Inferred Mineral Resource incorporates assays from 41 drill holes, which includes nine diamond, 15 percussion and 17 RC holes for a total of 4699m.

This drilling took place over several years and across numerous campaigns, leading to close spaced holes. As such, continuity of the mineralisation was readily interpreted as an Inferred Resource.

Mineralisation on site is interpreted to be an iron oxide copper-gold (OC) deposit hosted within a magnetite-pyroxenite.

Metallurgical work was undertaken on four composite samples from 2012 and 2014 drilling campaigns, with results indicating around 90% of the gold in solution after 48 hours from two composites. 20% of gold remained in the solid after 48 hours from the other two composites.

ALS metallurgy utilising an automated mineralogical analysis on samples indicated significant returns of quartz (42.5%), magnetite (27.4%) and chlorite/micas (15%).

Due to the nature of the mineralisation and metallurgical work, DAV believes that recovery rates for copper and gold on site may be close to 90%.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.




S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!