Roe Hills to take on a tinge of gold for MPJ

Published at Feb 22, 2016, in Small Caps

Mining Projects Group (ASX:MPJ) is continuing work at its Roe Hills project, but it will have more of a tinge of gold than nickel.

The ASX-listed diversified junior miner told its shareholders today that initial exploration by the company had identified several gold targets at its Roe Hills project.

That project had traditionally been a nickel play, with MPJ previously drilling for the commodity there.

It said that “market reality and the current depressed nickel price” had turned its thinking on the asset, and its technical team started to look at the gold potential of the project.

Hits included 14m @46.8g/t from 38M, 25m @ more than 0.4g/t from 117m, 20m @ more than 0.5g/t from 160m, and even one hit of 5m @ 13.7g/t from 50m.

An internal review of the asset’s gold potential found that MPJ had an opportunity to follow-up on gold occurrences at Roe Hills which had not been followed up for more than 15 years.

It said the review had provided a number of “walk up” gold drilling targets, saying it would aim to start a drilling program in the second and third quarters this year.

Meanwhile, it said it would continue to collate the results of its 2015 nickel drilling program which did provide promising targets – but this would be done in the background because of depressed nickel prices and a surging gold price.

MPJ has also recently entered into an option to buy the Lynas Find Assets project from Tyranna Resources (ASX:TYX), a lithium-gold project in the Pilbara region of WA.

Regional gold potential

The Roe Hills project is 120km east-southeast of Kalgoorlie’s so-called ‘Golden Mile’ within the eastern goldfields, which has produced more than 130 million ounces of gold, with more than 20 deposits containing more than 1 million ounces of gold.

The Golden Mile itself has produced over 70Moz over 120 years.

The Roe Hills project is flanked by Silver Lake Resources’ Mt Monger/Randalls gold operations to the west, and the Aldiss Gold Project to the immediate east.

The Mt Monger project has a resource of 9.34 million tonnes @ 5.5g/t from 1.6Moz, while Randalls has 11.4Mt @ 2.4g/t for 869,000oz, and Aldiss has 6.8Mt @ 2.2g/t for 473,7000oz.

Gold operations surrounding MPJ's Roe Hills project

Gold operations surrounding MPJ’s Roe Hills project

The Karonie mine meanwhile is just 5km to the north east of the Roe Hills project and was in operation by Freeport in the late 1980s. That mine produced 175,000oz from 1.4Mt at an average grade of 4g/t.

MPJ also said it was highly encouraged by the success of Tropicana and Gruyere in the area, which demonstrated the ability to apply new techniques to historically under-explored regions.

MPJ managing director Josh Wellisch said the new focus was a function of market realities.

“The identification of a significant, under realised gold opportunity at Roe Hills by our technical team provides the MPJ shareholders with exposure to the strengthening gold price and adds to our very positive underlying view of the potential of the Roe Hills project to yield significant new nickel discoveries,” he said.

“However, market reality and the current depressed nickel price – which has seen the price fall to 13-year lows – makes it very difficult to attract investor support for early-stage nickel exploration.”

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 is Australia’s leading small cap publication

Founded seven years ago, 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. 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. 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!