Mining Group's (ASX: MNE) shares should open higher after intersecting significant visible copper sulphide mineralisation in two diamond drill holes at its El Roble copper project in Chile.
Mining Group has an exclusive option to acquire El Roble, located in the IOCG Coastal Cordillera Belt of Chile, 30 kilometres from the port of Caldera.
The project covers 6,000 hectares, currently being actively mined on a small scale by the current owner, with ore trucked at grades in excess of 6% copper and treated at one of the two toll treatment plants located within 70 kilometres by road.
Visually, the core from these two holes appears well mineralised, with an alteration zone around the potentially higher grade section carrying significant amounts of copper sulphide.
Holes drilled to date have targeted down dip and along strike of the currently operating Descubridora mine, with observations to date confirming that copper mineralisation extends into the sulphide zone below the current workings.
Drilling is ongoing at Descubridora, as well as testing of the vein system at the Veta Gruesa prospect to the east.
Additional targets are in the definition process, with a cumulative strike length of 8 kilometres of exposed veins to explore, and possible continuity under sand dunes, the project shows potential to host an economic copper deposit.
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