Silver City Minerals Ltd (ASX:SCI) managing director Chris Torrey tells Proactive Investors the latest about the base and precious metals explorer’s activities around the famed mining districts of Broken Hill and Cobar in NSW, Australia.
The Copper Blow copper-gold-cobalt project continues to generate strong news flows, with geophysical studies and a drill program underway. Silver City Minerals is looking to develop more copper and cobalt assets across its tenements.
"Not only does Copper Blow have cobalt in it, but in fact the district has all these mapped copper-cobalt occurrences... 30% of those lie within our ground. Now we don't know enough about them because no one's actually done a lot of assaying for copper and cobalt, so we've got a team that will be investigating those and sampling those over the next three months," says Torrey.
In the next six to eight months, the company is planning to commence drilling at the Razorback West lead-zinc project, north of Broken Hill. In the meantime, a field team will deploy to the earlier-stage Cobar exploration area.
Torrey comments, "it's really important, we think, to be close to these mining districts because of the likelihood of finding another [significant discovery] is very high."