SUMMARY
Cockie Creek Porphyry Copper Prospect (Greenvale)
• A maiden drilling program at the Cockie Creek Porphyry Prospect commenced during July 2023 and represents the first significant program in more than 30 years and the first to specifically target a porphyry system.
• Highly positive results have been returned from each of the holes, including confirmation:
o that Cockie Creek is a porphyry Cu-Au-Mo system that is potentially of Ordovician age, similar to the Macquarie Arc deposits in NSW;
o that Cu mineralisation is developed over a significantly greater area than historically understood; and
o the porphyry Cu mineralisation is of relatively high grade in porphyry deposit terms with the first hole (CCDD001) returning
71m @ 0.48% Cu and 70ppm Mo from 16m, incl. 31m @ 0.65% Cu and 80ppm Mo from 36m.
• Current Mineral Resource Estimate: 13MT @ 0.42% Cu (0.25% Cu cut-off grade) (JORC 2004), based on strike length of 1.2kms and a maximum depth of 250m.
• Two large, intense IP chargeability targets at depth beneath the defined structurally controlled mineralisation corridor, remain to be investigated by drilling.
Bottletree Copper Prospect (Greenvale)
• Final preparations were being conducted for the commencement of the 2023 Phase 2 drill program targeting porphyry core(s) and delineating copper mineralisation within two Wall Rock Porphyry Zones.
Steam Engine Gold Project
• A Process Options Study is underway for the purpose of comparing the available options for gold recovery processing methods for the Steam Engine Gold Project.
• The study is 30% completed and the Company anticipates the delivery of a draft report later this year.
Greenvale Magmatic Ni-Cu-PGE Sulphide Project
• Desktop reviews of geophysical datasets and planning maiden exploration programs on the Greenvale Magmatic Ni-Cu-PGE Sulphide
Read the announcement via this link