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Accelerate Resources Ltd

Accelerate Resources completes deep hole targeting porphyry

The drill core will now be sent to the lab for official assaying.

 IP chargeability and magnetic inversion shells targeted by TCDD004
The IP chargeability and magnetic inversion shells targeted by TCDD004

Accelerate Resources Ltd (ASX:AX8) has completed deep drill hole TCDD004 at the Thomas Creek cobalt-copper porphyry target of its Mount Read project in western Tasmania.

TCDD004 ended at 657 metres depth and was targeting a coincident magnetic feature and IP anomaly porphyry target.

Chalcopyrite veining in several zones and visible copper sulphides from 199 to 298 metres confirm the geological potential and scale.

The diamond drill core is now being dispatched for cutting sampling and assaying.

READ: Accelerate Resources’ drilling intersects wide zone of visible copper at Thomas Creek

While assays are pending, near-term plans include detailed airborne geophysical surveys and detailed ground mapping and soil sampling.

Holes TCDD004 follows TCDD001, TCDD002 and TCDD003 targeting strong chargeability highs and resistivity lows within a large 3D inversion modelled IP chargeability anomaly.

These holes intersected a fertile mineralised system bearing abundant disseminated sulphides and containing intrusions and sulphide veining with associated anomalous copper-cobalt grades.

Best results included 3 metres at 2323 ppm cobalt and 0.09% copper in TCDD001; 46 metres at 0.11% copper in TCDD002; 22 metres at 193 ppm cobalt and 0.01% copper in TCDD003.

Quick facts: Accelerate Resources Ltd

Price: $0.04

Market: ASX
Market Cap: $2.05 m
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