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Comet Resources observes extensive surface copper mineralisation at Barraba

Last updated: 11:26 26 Nov 2020 AEDT, First published: 11:06 26 Nov 2020 AEDT

Comet Resources Ltd - Comet Resources identifies extensive surface copper mineralisation at Barraba Copper Project
Gulf Creek North area showing historical shaft in the foreground

Comet Resources Limited’s (ASX:CRL) initial site investigation of the historical high-grade Murchison Copper Mine and Gulf Creek North prospects at Barraba Copper Project in northern NSW has identified extensive surface copper mineralisation.

Widespread evidence of copper mineralisation was observed around the Murchison mine while historical mine workings that were previously unknown to the company were discovered around Gulf Creek North near several chargeability anomalies.

These anomalies, which were identified by a prior induced polarisation (IP) survey, may indicate the presence of a broader sulphide system.

“Encouraged by visible mineralisation”

Comet Resources managing director Matthew O’Kane said: “We’re encouraged by the widespread visual presence of copper mineralisation around the Murchison Copper Mine as well as the discovery of historical workings and the presence of iron oxides in the area of the IP anomalies at Gulf Creek North.

“We look forward to receiving the assay results and also will look to add in some drilling at Murchison to coincide with the initial drilling program at the Gulf Creek Copper Mine.”

Securities have been as much as 15% higher to 2.4 cents. 

Murchison Copper Mine

At Murchison, historical records indicate the presence of underground workings to a depth of 16 metres as well as several shallow pits with copper produced at an average grade of 3% and historical assays up to 5.1%.

The initial field program focused on delineating the tenor of the visible mineralisation as well as its extent.

Mine dump and outcrop samples from the Murchison Copper Mine were taken for laboratory analysis and a soil sampling grid centred on the old workings was established over a strike length of 400 metres and a width of 200 metres with samples forwarded for analysis.

Assay results are expected to be received next month.

Mine dump samples exhibiting strong copper mineralisation (azurite and malachite).

Gulf Creek Copper Mine

A reconnaissance program was also undertaken over ground to the north of the Gulf Creek Mine within freehold land where exploration access has been granted.

The focus was to determine whether historically identified IP anomalies, some of which coincided with an orange/red oxidised soil profile, represented a mineralising event.

During the investigation of the area, the presence of several pits and an 18-metre-deep shaft were discovered, evidencing past workings.

Mullock from these workings exhibited strong iron oxide alteration, which is often found where the surface of massive sulphide deposits outcrop.

The company is confident this is a good exploration indicator to the potential location of sulphide ore bodies, such as VMS deposits, which are known to occur at the Barraba Copper Project.

Soil and rock chip samples were collected for analysis and will be compared to spot analysis undertaken using a Niton pXRF analyser.

Native Title process

During the exploration works a meeting was held on site with representatives from the Native Title Claimants to the Crown land which is host to the Gulf Creek Copper Mine.

Exploration access to this land is still pending permitting, the major item of which is the clearance of the Native Title process.

This meeting provided an overview of the proposed exploration program to the claimants.

The company understands that observations by the representatives are favourable and will be presented at the next general meeting of the claimants, which will potentially be held in December.

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