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Silver City Minerals gains new substantial holder with more than 5% interest

The company is developing an iron-oxide copper-gold discovery near Broken Hill.

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Resource assessment and drilling at Copper Blow is expected to continue

Silver City Minerals Ltd (ASX:SCI) has gained a new substantial holder with Gavin Wates & Upsky Equity Pty Ltd now holding 5.01%.

The new holder obtained more than 14.5 million fully paid ordinary shares in Silver City.

 

Silver City is advancing its Copper Blow Project in New South Wales and has an extensive geochemical sampling program planned.

This will be carried out in conjunction with further ground geophysical surveys, including gravity and induced polarisation, to generate new drill targets.

Resource assessment and drilling at the main Copper Blow prospect is ongoing and aims to study the potential of toll-treating high-grade mineralisation at treatment plants in Broken Hill.

READ: Silver City Minerals plans more drilling to test copper-gold potential at Copper Blow

To date, exploration at Copper Blow by Silver City and joint venture partner CBH Resources has focused on an ironstone-hosted high-grade copper-gold zone within a well-defined crustal structure known as the Copper Blow shear zone.

Exploration results indicate the copper-gold mineralisation at Copper Blow is part of a larger mineral system which covers much of the eastern part of the tenure.

Quick facts: Silver City Minerals Ltd

Price: 0.009 AUD

ASX:SCI
Market: ASX
Market Cap: $3.09 m
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Silver City Minerals expanding surveys to generate new IOCG drilling targets

Chris Torrey, managing director of Silver City Minerals Ltd (ASX:SCI), updates Proactive Investors on the explorer's efforts to find the source of high grade mineralisation at the Copper Blow Project, located 20 kilometres south of Broken Hill in New South Wales, Australia. The company...

on 20/11/18

2 min read