Metallum (ASX:MNE) has delineated a 350 metre long by 250 metre deep electromagnetic conductor with potential for massive sulphide copper and zinc mineralisation at its Teutonic Project in Western Australia.
Notably, the EM response at the Mustang conductor has strong similarities to the Teutonic Bore, Bentley and Jaguar VMS deposits approximately 30 kilometres north within the same proven VMS corridor.
Given that Independence Group’s (ASX:IGO) Bentley has a Resource of 3.2 million tonnes at 1.7% copper, 7.4% zinc and 93 grams per tonne silver, this makes Mustang a compelling target that requires drilling.
Teutonic is located 30 kilometres north of Leonora.
Metallum has the right to earn up to 70% of the Teutonic Project from Sammy Resources Pty Ltd, a 100% owned subsidiary of Cazaly Resources (ASX:CAZ).
Further exploration work is required to fully test the Mustang target including further more detailed modelling of the EM data and drill testing to determine the source of the EM response. The Company is intending to drill the target as soon as practicable.
Teutonic EM Survey
The Mustang EM bedrock conductor identified in the survey has a strong late time EM response, indicative of a conductive zone within the bedrock which may be caused by massive or semi-massive base metal sulphide mineralisation.
While sulphidic black shales may cause this sort of response, the discrete nature and the modelled source of the conductor are consistent with possible alternatives, one being VMS style mineralisation.
The top of the conductor is located about 135 metres from surface and it dips at 75 degrees to the south west. The area is affected by a deep weathering profile of up to 100 metres.
Historical drilling has been carried out in the vicinity of the conductor, which consists of shallow rotary air blast and aircore holes.
Review of the drilling and reinterpretation of the geology from remnant drill spoil piles as well as geochemical data has resulted in the identification of a low level copper and zinc anomaly that is coincident with the location of the bedrock EM conductor.
Metallum had earlier this week extended its option to acquire up to 70% of Teutonic by a further three years.
It remains focused on the development of near-term, small-scale mining operations at its El Roble copper-gold project in Peru to enable self-funded growth.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.