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West Cobar Metals Limited (“West Cobar”, ASX:WC1) is pleased to advise that assays from the latest drilling of its 100%-owned Bulla Park Copper - Antimony Project (Figure 1), located 110km west of Cobar in New South Wales have shown drill intersections of broad and consistent copper and antimony mineralisation.
Highlights
- Recent diamond drilling confirms a thick zone of antimony copper mineralisation at Bulla Park with structural control from a major WSW trending fault
- Provides further confidence of a large antimony copper system at Bulla Park supporting previous drilling results - 33m at 0.47% Cu and 0.15% Sb (19CA002, 229m to 262m)1
- BPD09 encountered copper - antimony grades up to 1m at 1.04% Cu, 0.55% Sb (204m to 205m)
- Broad intercepts from BPD09 include 190m at 0.23% Cu and 0.08% Sb from 128m
- Selected intersections from BPD09 include 66m at 0.34% Cu and 0.13% Sb, 7g/t Ag from 200m. Also:
- 4m at 0.44% Cu, 0.20% Sb and 7g/t Ag from 131m
- 10m at 0.47% Cu, 0.23% Sb and 9g/t Ag from 200m
- 4m at 0.53% Cu, 0.21% Sb and 10g/t Ag from 223m
- 13m at 0.45% Cu, 0.17% Sb and 7g/t Ag from 239m
- Gravity and aeromagnetic surveys indicate there is potential mineralisation along at least 1.8km of strike, over 350m of horizontal width and drill intersected thicknesses of approximately 60m
- Strong macroeconomic factors for antimony (prices are approx. US$22,700/t) and copper (prices are approx. US$9,300/t)*
- Antimony is on the critical mineral lists of both Australia and the US
- In addition, potential for stratiform massive sulphide silver – zinc - lead mineralisation exists south of the copper - antimony mineralisation
- Additional drilling planned to enable maiden antimony copper mineral resource estimate
West Cobar Metals’ Managing Director, Matt Szwedzicki, commented: “The Bulla Park project is shaping up to have potential for a major copper – antimony – silver deposit. The antimony content is exceptional and with the global prices of antimony trading at nearly 2.5 times the price of copper, it is a good time to have drilled through a major intercept of antimony mineralisation.
We are now planning the next drill program to follow the deposit along strike.”
Figure 1 - West Cobar’s Bulla Park Project exploration licences, interpreted geology and outline limits of aeromagnetic surveys flown.
Mineralisation is dominantly tetrahedrite (copper - antimony sulphide) and minor chalcopyrite and stibnite (antimony sulphide). Antimony grades in all drill hole intercepts are approximately 30% to 35% of the copper grade, reflecting the theoretical composition of tetrahedrite (Cu12Sb4S13).
The mineralisation has developed over several stages. Syn-depositional siderite alteration of Lower Devonian (Winduck Group) silty fossiliferous sandstones is accompanied by chalcopyrite and tetrahedrite. Synsedimentary microfaults and dewatering structures are common indicating a tectonically active depositional and mineralising environment. When subsequently lithified, brittle faulting and fracturing has resulted in siderite-barite stockwork veining and hydrothermal breccias with tetrahedrite as the main copper-antimony mineral. Later faulting is associated with tectonic breccias, massive siderite-barite veins up to 20m thick and tetrahedrite and stibnite crystals filling vughs and veins (Figures 2 and 3).
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This article includes content from West Cobar Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
