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Pegasus Metals intersects more massive sulphides in Western Australia

Published: 14:50 05 Jun 2013 AEST

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Pegasus Metals (ASX: PUN) has intersected massive sulphides with a peak of 2.3% copper and 3.86% zinc from drilling of a second VMS target at its Mt Mulcahy Project in Western Australia.

The results from the West Copper target provides strong evidence that Mt Mulcahy is emerging as a substantial VMS province while increasing the prospect that the remaining 20 targets are also mineralised.

Adding to that is the latest assays from South Limb Pod of up to 4.94% copper and 3.86% zinc with silver and gold that further confirm the quality and continuity of the VMS-style mineralisation at South Limb Pod target.

Pegasus is now drilling to test whether the South Limb Pod mineralisation extends from a vertical depth of 225 metres to 400 metres.

This drilling has the potential to add substantial amounts of contained metal to any future South Limb Pod resource and also boost the development options available to Pegasus.

Previous drilling at South Limb Pod had delivered massive sulphide hits of up to 6% copper and 6% zinc, outlining the mineralisation to over 300 metres down-dip and /or down plunge and to a vertical depth of 200 metres.

The economics of any development at Mt Mulcahy would be boosted significantly by the shallow nature of the mineralisation, which makes it a potential open pit target. Weathering at Mt Mulcahy is relatively weak and only extends a few metres below the surface.

 

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