Syndicated Metals (ASX: SMD) is an Australian base metals exploration and development company with control of a tenement package covering over 4,000 square kilometres in the world recognized Mount Isa mineral province in North Queensland.
The company manages two advanced base metals projects with a combined resource inventory in excess of 269,000 tonnes Copper, 30,000 tonnes Molybdenum, 2.3 million ounces Rhenium and 315,000 ounces Gold as well as having a suite of advanced and early stage exploration targets on the surrounding tenements.
Syndicated Metals (ASX: SMD) has kicked off a much anticipated drilling program in the Mount Isa province, at the company's Mount Remarkable copper-gold project.
The Mount Remarkable area is rapidly emerging as a target rich environment with the potential for open pit copper and gold resources, located around the Barbara Copper Project
The Barbara deposit is located 50 kilometres northeast of Mount Isa and is easily accessible via the main Barkly Highway and the Lake Julius Road.
The project covers 75 kilometres of strike east of Mount Isa on the road to Cloncurry.
The new diamond and reverse circulation drilling program will cover 10,000 metres, starting at the Green Zone prospect within the Leichhardt joint venture, and will then move to Barbara followed by Blue Star.
It is anticipated that results will enable initial mineral resources for both Blue Star and Green Zone to be estimated.
Mount Remarkable comprises mostly contiguous tenements covering around 1,100 square kilometres and is considered prospective for copper-gold, sediment hosted lead-zinc-silver and uranium mineralisation.
In November 2010, Runge Limited (ASX: RUL), international mining consulting group provided an upgraded resource estimate for the Barbara South and North Deposits.
The Barbara tenements have a total Indicated and Inferred Resource of; 5.33 million tonnes at 1.4% copper, 0.1 grams per tonne gold, 267 parts per million cobalt and 2.5 grams per tonne silver.
This tonnage forms; 25,000 ounces of gold, 430,000 ounces of silver, 1,400 tonnes of cobalt for a copper equivalent of 89,000 tonnes.
Syndicated’s attributable share is 75,000 tonnes of contained copper equivalent.
Mineralisation is currently defined within two adjacent ore zones known as the North and South Lodes, with additional ore potential contained between the blocks, along strike, and down dip.