Reach Resources

Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).


HIGHLIGHTS

  • High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
  • Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
  • Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
  • Significant results include:
    • 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
    • 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
    • 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
    • 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
  • Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
    • 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
  • The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
  • Morrissey has never been drilled & geochemical surveys planned to commence next week.

Commenting on the results CEO Jeremy Bower said:

“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.

Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”

FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line

FIGURE 4: Regional location of Reach Yinnetharra projects

The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.

The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).


Click here for the full ASX Release

This article includes content from Reach Resources, 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.

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