The discovery is based upon data from the recent Thomas Creek diamond drilling program, including analysis and interpretation of geology, geochemistry and geophysical data sets.
Assays from three diamond drill holes show high grade cobalt and copper was intersected including 8 metres at 0.11% cobalt and 46 metres at 0.11% copper.
Drilling intersects large IP target
Drilling was targeting a large induced polarisation (IP) anomaly below a surface copper-cobalt anomaly.
The drilling successfully intersected a fertile porphyry system containing several intrusions associated with anomalous copper-cobalt grades.
All three holes intersected the intermediate alteration phase associated with this style of mineralisation system.
Finding an economic zone to potentially mine
On‐going detailed analysis and a systematic, programs of work will actively pursue the establishment of economic zones of mineralisation within this large porphyry system.
Near-term plans at the target are:
• Detailed airborne magnetic and geophysical surveys;
• Detailed ground geophysical surveys; and
• Regulatory approval for additional diamond drilling.