NTM KICKS OFF AIRCORE, DIAMOND DRILLING ALMOST FINISHED, RC IN MAY
ASX Announcement 28 March 2019
SUMMARY
◼ NTM has begun the latest aircore campaign at the Redcliffe Gold Project.
◼ The aircore is targeting a number of new prospects.
◼ Initial focus will be to the north of the exciting new Hub discovery.
◼ Diamond drilling continues, with a second hole at Hub.
◼ RC drilling program will commence in May.
NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to announce the resumption of aircore drilling as the Company continues an aggressive exploration program at its 100% owned Redcliffe Gold Project located near Leonora, Western Australia. The aircore campaign follows on from the highly successful 2018 aircore work that returned multiple +1g/t Au intersections from six targets and identified the exciting Hub prospect.
This latest aircore campaign will comprise approximately 8,000m of drilling across the Redcliffe Project, including at the Hub North, Nambi North, Infinity and Aliso prospects.
The bulk of the drilling will focus on an 800m gap to the north of the recent Hub discovery, which has never been drilled. The Hub mineralisation was identified during the 2018 aircore program by NTM with initial intersections of 7m @ 4.7g/t Au, 10m @ 2.7g/t Au and 5m @ 4.66g/t Au (refer ASX announcement 17 October 2018). Mineralisation has since been identified at depths of more than 250m downhole in RC drilling.
The aircore program will also follow up previous intersections at Infinity and Aliso as well as testing structural targets at Nambi North.
The diamond drilling at Redcliffe is ongoing, with holes completed at Nambi, Bindy, GTS and Hub. The rig is currently drilling a second core hole into the Hub, the final hole of the diamond program.
NTM Gold Managing Director Andrew Muir commented:
“Our aggressive exploration program of Redcliffe continues, with the resumption of aircore drilling to target new deposits. This program is in parallel to our diamond and RC drill campaigns that are aimed at expanding existing deposits and drilling out recent discoveries. The ongoing drilling should result in regular exploration results news flow over the next few months as NTM continues to deliver value for shareholders.”
Redcliffe Gold Project Targets and Selected Deposits over Aerial Magnetics
ESHUYS JOINS NTM’S BOARD
ASX Announcement 26 March 2019
SUMMARY
- Experienced mining executive Eduard Eshuys joins NTM’s board as a Non-Executive Director
- This follows DGO Gold Limited becoming a substantial shareholder with 12% stake in NTM
NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to announce the appointment of Mr Eduard Eshuys as a Non-Executive Director. NTM welcomes Mr Eshuys as the board representative of DGO Gold Limited (ASX: DGO) (“DGO”). Mr Eshuys is DGO’s Executive Chairman and his appointment follows DGO’s shareholding in NTM increasing to above 10% (see ASX announcement 13 March 2019).
Mr Eshuys is a highly regarded geologist with several decades of exploration experience and success in Western Australia. In the late 1980’s and 1990’s, Mr Eshuys led the teams that discovered the Plutonic, Bronzewing, Jundee Rosemont and Quarters gold deposits and the Cawse lateritic nickel deposit. He was earlier involved with the discovery of nickel sulphides at Maggie Hays and Mariners in the 1970’s. More recently, he was the Managing Director and CEO of St Barbara Limited from 2004 to 2009. During this time Mr Eshuys was instrumental in substantially increasing the resources and reserves at the Sons of Gwalia mine and its redevelopment.
Mr Eshuys joined DGO in 2010 as Executive Chairman. DGO is focused on building long term shareholder value by investing in brownfield gold discovery opportunities and through exploration success of its portfolio of strategic land positions
NTM welcomes Mr Eshuys to its board and looks forward to drawing on his wealth of experience as the company aggressively explores the Company’s 100%-owned Redcliffe Gold Project near Leonora, in WA’s Goldfields.
NTM Gold Managing Director Andrew Muir commented:
“The appointment of Mr Eshuys to the board is the next step in the continuing alignment of NTM and DGO with respect to aggressively exploring the Redcliffe Gold Project. Both companies recognise the potential of Redcliffe to yield a sizeable gold resource base.
“NTM’s 2019 exploration program is in full swing, with an RC campaign and diamond drilling program and near-term commencement of an aircore program to test for strike extensions of current resources.”
RC DRILLING AT REDCLIFFE EXTENDS GOLD MINERALISATION
ASX Announcement 18 March 2019
SUMMARY
- Excellent grades returned from recent RC drill program testing depth extensions.
- Results include:
- 14m @ 2.96 g/t Au, incl. 2m @ 6.79g/t Au and 2m @ 6.00g/t Au at Redcliffe East;
- 2m @ 4.67 g/t Au at Hub;
- 2m @ 2.38 g/t Au at Hub; and
- 1m @ 8.43 g/t Au at Bindy North.
- Mineralisation remains open at depth.
- Diamond drilling underway, aircore drilling to follow shortly.
NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to provide an exploration update for the 100%-owned Redcliffe Gold Project located near Leonora, Western Australia. Reverse circulation (RC) drilling across a number of prospects has returned good results from a number of areas.
The recently completed RC drilling targeted a number of prospects following up the highly successful 2018 aircore campaign, testing the depth extents of the shallower mineralisation intersected in the aircore.
The program returned some excellent results and has further validated NTM’s targeting, with some outstanding gold grades intersected at depth. Other than at the Hub, this was the first RC drilling at the Redcliffe East and Bindy North Prospects. Better results include:
Redcliffe East
14m @ 2.96 g/t Au from 122m, incl. 2m @ 6.00 g/t Au and 2m @ 6.79 g/t Au.
Hub
2m @ 4.66 g/t Au from 93m and
2m @ 2.38 g/t Au from 40m Bindy
North
4m @ 2.47 g/t Au from 178m incl. 1m @ 8.43 g/t Au.
NTM Gold Managing Director Andrew Muir commented:
“This latest RC drilling continues to highlight the significant potential of the Redcliffe Gold Project, with good grades at a number of different prospects. Furthermore, the mineralisation at all of these prospects remains open at depth and requires significantly more drilling, which we intend to undertake in the coming months.
“In the meantime, extensional diamond drilling is underway, testing a number of deposits at depth. In addition, another aircore program is planned to commence soon to test a number of early stage targets, hopefully replicating the success of the 2018 aircore drilling that confirmed new prospects including the Hub.”
Redcliffe Project Targets and Selected Prospects over Aerial Magnetics
BOARD & MANAGEMENT
The NTM Board has a diverse range of technical, legal and commercial skills.
Mr Paul Price
NON-EXECUTIVE CHAIRMAN
Mr Price is a commercial lawyer with extensive experience in legal and commercial matters focussing on the resource sector. He has advised national and international companies on commercial transactions, corporate governance, capital raising and structuring issues. He is a member of the Australian Institute of Company Directors, AMPLA (the Resources and Energy Law Association) and the Association of Mining and Exploration Companies. He has a Bachelor of Jurisprudence, a Bachelor of Laws, and a Masters of Business Administration all from the University of Western Australia.
Mr Andrew Muir
MANAGING DIRECTOR
Andrew Muir has more than 25 years’ experience in mining and finance, having originally qualified as a geologist from UWA in 1993. As a geologist, Mr Muir spent 12 years working in many remote parts of Western Australia in a variety of roles in both exploration and mining. His exploration roles included: the early stage drill-out of the Jundee gold deposit; grassroots exploration around Southern Cross and Bullfinch; and a number of years at the Granny Smith operation where he was the Lake Cary project geologist. Whilst at Granny Smith, Mr Muir was instrumental in the discovery of the multi-million ounce Wallaby deposit. His mining experience includes both open pit and underground roles at a number of sites including Agnew, Paddington and Kundana. In 2005 Mr Muir transitioned into the financial markets, working as a Resources Equity Analyst for firms such as JP Morgan, Hartleys and PCF Securities, and in the Corporate Finance team at Argonaut. In 2009 he won the Starmine and Australian Financial Review Stock Picker of the Year for Mining and Metals. Mr Muir holds a Bachelor of Science degree with Honours, majoring in geology, from the University of Western Australia, a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia (now FINSIA) and is a Fellow of Finsia. B. Sc (Hons), GDipAppFinInv, FFin.
Mr Rodney Foster
TECHNICAL NON-EXECUTIVE DIRECTOR
Mr. Foster is a geologist with over 27 years’ experience in the gold exploration and mining industry in Western Australia and Victoria. Prior to joining NTM in April 2016 Rodney was the managing director of Redcliffe Resources Limited and lead the exploration and development programme on the Redcliffe Gold Project which successfully identified a number of new gold deposits within the project area. He has extensive geological and management experience, in particular within the Western Australian Eastern Goldfields. He has previously worked with for Pancontinental Mining at Paddington, Samantha Exploration, CSR’s Gold Resources Pty Ltd and North Kalgurli Mines on the Golden Mile, Money Mining NL, Peak Resources Ltd. He was also the founding Managing Director of Goldminco NL, a Victorian exploration company. BSc, AusIMM.
Mr Edward (Ted) van Heemst
NON-EXECUTIVE DIRECTOR
Mr van Heemst is a prominent Perth businessman with 40 years’ experience in the management of a diverse range of activities with large private companies. He has extensive knowledge of the capital markets and has well-established mining industry networks. Mr van Heemst is currently the Managing Director of Vanguard Press, a non-executive Director of Redstone Resources Ltd, and a past Chairman of Perth Racing. Mr van Heemst holds a Bachelor of Commerce degree from the University of Melbourne, an MBA from the University of Western Australia and is a member of the Institute of Chartered Accountants Australia. B. Com, MBA, CA, CPA.
Mr Mark Maine
COMPANY SECRETARY
Mr Maine is an experienced company secretary and former managing director and founder of ASX listed company Peak Resources Limited. He currently operates a consultancy business specialising in company secretarial practice, corporate governance and administration. M Com, B Bus (Accounting), P/G Dip (Com Law), CPA.
