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Silver City Minerals commences drilling copper sulphide target

Published: 13:00 30 Nov 2016 AEDT

NSW-757
The Silver City share price is up 100% year to date.

Silver City Minerals (ASX:SCI) has commenced drilling at its Wilga Downs joint venture project located in western New South Wales.

Drilling will test coincident geophysical anomalies which have potential to be copper sulphide mineralisation at depth.  

Previous drill holes in the area have encountered anomalous copper, lead and zinc mineralisation.

Importantly, this mineralisation is hosted in a mafic volcanic rock similar to that which is associated with copper-gold ore bodies at the Tritton mine located 80 kilometres away.

Elsewhere, Silver City has completed three holes at its Razorback West project near Broken Hill and has identified new conductor targets at Balaclava through an electromagnetic survey.


Background

Silver City has a focus on the Broken Hill and Cobar regions of Australia, both infrastructure rich productive mining camps.

It has a large 1,200 square kilometre tenement position in the Broken Hill region where it is exploring predominantly for lithium and zinc.

Cobar represents a relatively new opportunity for Silver City as it farms into copper and gold exploration ground.


Wilga Downs

The project, located 80 kilometres northeast of Cobar, is part of a farm-in and joint venture agreement with Thomson Resources Ltd (ASX:TMZ).

The target is an electromagnetic conductor that shows similarities to conductors which led to Aeris Resources Ltd’s (ASX:AIS) Tritton copper-gold deposit and Peel Mining Ltd’s (ASX:PEX) more recent Mallee Bull copper-gold discovery.

Data suggests the target is sulphide rich at depths of 200-250 metres below the surface.

Silver City can earn an 80% interest in the project from Thomson Resources Ltd (ASX:TMZ) by spending $800,000 over four years.


Drilling at Razorback West

Three diamond drill holes for a total of 939 metres have been completed to test a variety of targets at the Razorback West project and

Preliminary interpretation of two holes suggests that the electromagnetic conductivity is responding to small concentrations of iron sulphide and copper sulphide. Minor lead and zinc sulphides were also observed.

Samples of core have been despatched for analyses with results likely to be received in late December.


Balaclava survey

Recently, Silver City completed both moving loop and fixed loop electromagnetic surveys over a zone considered to be prospective for Broken Hill type mineralisation. 

A number of conductors were identified and require ground follow-up. 

One in particular suggests a shallow, but strong conductor in the north-eastern part of the survey area which is coincident with narrow zones of Broken Hill type lode rocks.

Further ground checking is required, with the view to drill testing this new anomaly.


Analysis

With assays pending from Razorback West and drilling ongoing at Wilga Downs, Silver City is leveraged to exploration based news flow over the short term.

The electromagnetic conductor at Wilga Downs being drilled has geophysical signatures that could represent a significant copper sulphide accumulation.

The pedigree of the Cobar mining district suggests potential for high grade copper, lead, zinc and associated gold mineralisation.

The conductor also shows strong similarities to those that led to the discoveries of the Tritton and Mallee Bull deposits located within the district.

The Silver City share price is up 100% year to date, trading at $0.034.

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