Drummond Gold (ASX:DGO) has commenced drilling at its Mt Cannindah deposit in Central Queensland.
Mt Cannindah is a sizeable mineralised Cu-Au-Mo system with widespread mineralisation over a 9 square kilometre area.
Recent review work has identified the potential for important true porphyry stockwork style mineralisation, such that occurs in the Cadia Deposits in NSW, and, potential for high grade skarn mineralisation similar to which occurs in the Fortitude Deposit in Nevada, USA.
Several large prospective areas have been identified that have very little drilling below 100 metres which includes the United Allies prospect which covers a large 800 metre X 600 metre area and shows evidence of Cu-Mo stockwork mineralisation.
Only limited drilling exists and the only deep hole in the area intersected from 4.4 metres below surface returned 137.4 metres at 0.22% copper, 0.05 gram per tonne gold and 200 ppm Mo.
A limited open hole reverse circulation drilling program of about 1,000 metres has been planned to initially test these two broad target areas and mineralisation styles.
Drummond having met its initial threshold expenditure by drilling at the Mt Cannindah Copper Mine- a breccia deposit within the larger system has elected to earn 51% interest in the project with Planet Metals (ASX: PMQ).
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.