Sign up Australia
Proactive Investors - Run By Investors For Investors

ActivEX follow up drilling extends copper gold cobalt discovery at Florence Project

ActivEX follow up drilling extends copper gold cobalt discovery at Florence Project

ActivEX (ASX: AIV) has reported further significant drilling results at its fully owned Florence Bore North and Florence Bore South prospects in Queensland, confirming and extending a copper-gold-cobalt discovery announced on 26 July 2010.

These results combined with the initial excellent results from Saddle Ridge, a joint venture with Carpentaria Exploration (ASX: CAP) in which ActivEX is earning 75%, give the company confidence to move forward with more aggressive drilling programs in the area, with the aim of defining JORC resources in 2011.

The second phase follow-up drilling program has proven the continuity to the mineralisation zones that are near surface and have potential for open pit operations. The results also indicate potential for three mineralised zones to be defined.

The Florence Bore North high grade zone has been extended at depth to 22m @ 1.03% copper, 0.07g/t gold and 44g/t cobalt.

At Florence Bore South wide zones of moderate grade intersected 86m @ 0.39% copper, 0.05g/t gold and 60g/t cobalt including 10m @ 0.73% copper, 0.07g/t gold and 37g/t cobalt and 14m @ 0.73% copper, 0.17g/t gold and 90g/t cobalt.

At the Saddle Ridge Prospect initial significant intercepts include 35m @ 0.85% copper, 0.04g/t gold and 207g/t cobalt including 6m @ 3.2% copper, 0.21g/t Au and 206g/t cobalt.

Doug Young, managing director of ActivEX said “our second program of drilling in the Florence area has returned further outstanding results and extended the mineralisation at depth and along strike. The significance of this drilling is that it confirms the SAM modelling we carried out during 2010 and proves some continuity to the conductive, mineralised zones."

"The drilling has shown wide zones of copper mineralisation at Florence Bore North and Florence Bore South which have now been intersected over several hundred metres of strike and are not closed-off. The program has also intersected significant mineralisation at Saddle Ridge in the initial holes,” he added

The drilling program of seventeen RC percussion drill holes for a total of 2199 metres was conducted from 21 September 2010 to 9 October 2010 in the Florence Bore area and the Saddle Ridge area, south of Cloncurry.

The Saddle Ridge prospect lies 25km northwest of Ivanhoe Australia’s (ASX: IVA) major copper deposit at Mt Elliott.

View full AIV profile View Profile

ActivEX Timeline

January 19 2016
December 31 2014

Related Articles

September 18 2018
Exploration is ongoing across a swathe of attractive properties in Nevada
copper symbol
“Asiamet’s strategy is on the near-term development of BKM and BKZ and then the development of Beutong, which is, in our view, the key asset of most interest, which will place Asiamet as a major copper player”
August 30 2018
Metminco offers a portfolio of Columbian exploration assets with significant upside

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use