Davenport Resources reveals Maiden Resource for NT gold-copper play
Published 28-MAR-2018 12:12 P.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Davenport Resources Limited (ASX:DAV) has today announced a maiden Mineral Resource estimate for the Johnnies Reward gold-copper deposit.
The Inferred Mineral Resource estimate stands at 2.2 Mt @ 1.4 g/t gold equivalent for 101,000 ounces gold equivalent for the project, which is part of DAV’s 100%-owned Southern Cross Bore Project in the Northern Territory.
Prepared by Conarco Consulting, the Resource includes 52,000 ounces gold at 0.7 g/t and 9,000 tonnes copper at 0.4%.
The Inferred Mineral Resource for the Johnnies Reward deposit incorporates assays from 41 drill holes including nine diamond, 15 percussion and 17 RC holes for a total of 4699 metres. It extends from an ‘outcropping gossan through a transitional weathered zone’ that is approximately 20 metres thick, with fresh rock beneath.
At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
The mineralisation encountered at Johnnies Reward is interpreted to be an iron oxide copper-gold (IOCG) deposit hosted within a magnetite-pyroxenite. From exploration undertaken so far, it is open down-dip as well as along strike to the north.
The below map shows the location of the project in the NT’s Arunta region:
DAV’s Southern Cross Bore Project features numerous other targets for follow-up exploration, including another outcropping gossan with anomalous rock-chip samples (Two Amigos) and historic copper workings (Pinnacles).
Commenting on today’s news, Executive Director Chris Bain said: “The open nature of the Inferred Resource down dip and the trend for several hundred metres along strike highlighted by both magnetics and biochemistry suggests that there is scope to significantly extend this maiden resource.”
Due to the fact that the project’s Inferred Mineral Resource has been estimated based on historic drilling information, the costs have been minimal for DAV — whose key focus remains on its potash assets in Germany’s South Harz Basin.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.