logo-loader

Redbank Copper kicks off drilling in McArthur Basin, Northern Territory

Last updated: 15:30 07 Nov 2014 AEDT, First published: 14:30 07 Nov 2014 AEDT

au_nt__350_545c26fbea05b

Redbank Copper (ASX:RCP) has commenced drilling at its flagship Redbank Project in the McArthur Basin, Northern Territory.

Significant copper mineralisation at Redbank is hosted by moderate to steeply dipping altered and partially brecciated zones generally in the shape of cylindrical pipes.

Within these pipes, grades of over 30% copper have occurred in the oxide zone and historic open cut mining has focused on mining this high grade copper oxide ore at Sandy Flat, as well as smaller excavations at the Redbank, Azurite and Prince prospects.

The planned 5,000 metre reverse circulation and diamond drill program will focus on copper mineralisation below the majority of historic mining operations, and additional high priority prospects.

Strike extensions to shallow oxide resources will also be targeted.

The end goal is to define sufficient additional oxide and sulphide resources to warrant commencement of a feasibility study to investigate the scale and viability of future mining and processing operations.

Although there are a number of theories on mineralisation controls, the current model is the intrusion of intermediate volcanic pipes along zones of structural weakness, accompanied by brecciation and mineralisation.

Geological information returned from the drill program will therefore be important for future exploration program planning both at Redbank and the regional tenement package.

Notably, Michael Fotios of Northern Star Resources (ASX:NST) fame is Executive Chairman of Redbank.

The company is capitalised at $5 million.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

10 hours, 3 minutes ago