Project: Talga Talga
|Tenement||E77/2222, E77/2251, E77/2350|
Project: Mosquito Creek
Trident holds a package of existing gold royalties (the “Royalty Package”) covering four projects located in the prospective Pilbara and Yilgarn regions of Western Australia.
The Royalty Package comprises a 1.5% Net Smelter Royalty (“NSR”) over multiple tenements within the Talga Talga and Mosquito Creek projects as well as a 1.0% NSR over tenements at the Bullfinch project.
Gold Specimens from the Talga Talga Project
Western Australia Royalty Package
The Royalty Portfolio
The royalty covers granted Mining Lease M45/618 which is owned and operated by TSX listed Novo Resources Corporation. Located in the Pilbara region of Western Australia, historical drilling has identified shallow dipping, near-surface gold zones including 7m @ 14.4g/t Au and 3m @ 24.8g/t Au.
Since Novo acquired Talga Talga, spot rock chip sampling of lode quartz veins has returned encouraging assay results including grades of 81.4 g/t, 46.9 g/t, 35.1 g/t and 30.0 g/t gold. Of a total of 149 samples, 68 returned grades greater than 0.5 g/t gold and 33 returned grades greater than 5.0 g/t gold.
Novo recently announced the results of a successful ore sorting programme undertaken on ore from its Beatons Creek Project and noted “Given that gold particles at Beatons Creek are generally much finer than those at Egina and Karratha where mechanical sorting tests have yielded excellent recoveries into low volume concentrates, Novo is taking a view that such sorting may prove important not only to Beatons Creek, but perhaps to Novo’s other, less advanced gold projects including Virgin Creek, Contact Creek and Talga Talga, all of which display similar nuggety gold mineralisation to that at Beatons Creek”.
Taken together with Novo’s recent acquisition of Millenium Minerals processing plant and infrastructure in the Pilbara region, ore sorting may provide a feasible pathway to production from ore from the Talga Talga royalty zone.
The royalty covers exploration licence E46/1035 which was acquired by Nimble Resources in November 2017. Royalty zone sits to the north east of the Millenium Mill acquired by Novo, is considered prospective for gold as evidenced by historical workings, soil and rock geochemistry and previous drilling.
The royalty covers Mining Leases E77/2222, E77/2251, E77/2350 which is owned and operated by Torque Metals. Torque recently listed on the Sydney Stock Exchange and undertook a capital raising which included funding to advance drilling at the Bullfinch Project. The royalty tenements are located in the prospective Yilgarn goldfields, located within 70km of two existing processing plants. Trident notes that some of the Torque Metals are subject to a forfeiture application at the time of the acquisition.