The Conversation (0)
Woomera Mining Limited (ASX: WML) (“Woomera”, “the Company”) is pleased to announce that it has obtained all required administrative permits to commence a proposed two-pronged diamond core programme to both:
- confirm the potential of a higher-grade structural zone, in proximity of the historic hole F62, which returned 929m @ 0.37% CuEq1. This targeted zone was determined as the confluence of an IP anomaly and a structural fault zone, as potentially contributing factors for higher grade mineralization, which has the potential to increase volume and grade of the existing resource; and
- increase resource tonnage, by infill and extension drilling, and at the same time allow for the conversion of the existing EL to an ML.
Permits for the drilling were obtained from both the Manlai and Mandakh soums (Districts) located within the Southern Gobi copper / gold belt.
Woomera has completed the signing of the final Earn-In Agreement with Kincora Copper Limited (ASX: KCC) and can now commence drilling in early October. A Diamond Core programme of between 2250 and 3250m is planned, with Litho LLC, a leading Mongolian Drill operator, appointed as Diamond Drill contractor for the programme.
- Drilling programme of a minimum 2000m commencing in October aims to extend the high- grade zone in proximity of hole F62 at the confluence of an IP anomaly and structural corridor
- Drilling will also focus on shallow infill and extension drilling, to increase resource base and to convert the project EL to an ML
- Final Earn-In Agreement with Kincora Copper Limited has now been executed.
- Woomera is in the process of earning an 80% interest in the Project (in two phases) by spending US$4m (with an election to acquire 100%)
BRONZE FOX PROJECT
The Bronze Fox Project covers 175km2 and is located in the Southern Gobi porphyry belt of southern Mongolia, approximately 450km south of the capital Ulaanbaatar. It represents an opportunity to secure an 80% interest (with the ability to move to 100% at Woomera’s election) in an underexplored world-class porphyry copper project with genuine Tier-1 potential. Drilling by Kincora totalling approximately 46,625 metres of Reverse Circulation and Diamond Core drilling has defined three shallow, large porphyry complexes, providing genuine new discovery potential, resource delineation and early-stage exploration plays.
Key project components include:
- Bronze Fox Licences: located in the rapidly developing Southern Gobi copper belt.
- two adjacent licences covering 175km2
- 3 underexplored, large and near surface porphyry systems
- plus other early-stage copper and gold targets.
- JORC Compliant Resource and Exploration Target
- 194Mt at 0.26% copper equivalent (CuEq) at a 0.2% CuEq cutoff within a notional pit shell to a depth of approximately 325m below surface².
- additional Exploration Target for the West Kasulu prospect of between 100Mt and 300Mt at 0.25% to 0.35% CuEq². The Exploration Target comprises potential mineralisation below the current Mineral Resource from approximately 325m to 1,200m below surface.
- Existing mining licence with plans for second covering the full project.
- Team: Established in-country team of internationality experienced geologists with supporting infrastructure and Ulaanbaatar office.
- White Pearl Field Camp: Year-round facility supporting operational needs.
- Country Wide Database: Provides opportunities for new acquisitions in Mongolia.
The Mineral Resource and Exploration Target were first reported by Kincora Copper (ASX:KCC) under its ASX announcement dated 26th July 2022 entitled ‘Mineral resource and updated exploration target for Bronze Fox.’
Woomera Managing Director, Ralf Kriege, said:
“The commencement of the drill programme marks the start of an exciting transformative period for Woomera progressing the Bronze Fox Copper – Gold Project in one of the world’s most prospective copper belts. Drill rigs are to be mobilised this coming week and we look forward to reporting the results in the next months.”
The Bronze Fox Project is located proximal to several world class mineral deposits including Oyu Tolgoi, Kharmagtai, Tsagaan Suvarga and Tavan Tolgoi (see Figure 1).
Figure 1: Bronze Fox project with major resource projects in Southern Gobi 1
A priority target for the Company will be following up on hole F62 (see Figure 2) drilled by Kincora which intersected:
- 929m @ 0.37% CuEq (from 343m) including:
- 318m @ 0.53% CuEq (from 515m) and
- 37m @ 1.01% CuEq, from 573m.
(See Kincora Copper ASX Announcement: Mineral resource and updated exploration target for Bronze Fox, 26th July 2022).
Click here for the full ASX Release
This article includes content from Woomera Mining 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).
Click here for the full ASX Release
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.
