3.7 Kilometres of Copper Mineralisation
Detailed mapping and sampling has been continuing at Prairie Downs Metal's namesake project. Results indicate that copper mineralisation is continuous in a similar geological setting from Costean Seven to the Main Lode zinc resource. This is a total strike length of 3.7 kilometres of copper mineralisation which commences at surface and remains open to both the northwest and southeast.
Only 3.7 kilometres of the total 17 kilometre potential strike length has been mapped to date. Indications are that further mineralisation will be discovered as the exploratory mapping process continues. The next stage is to map a section of the rift four kilometres northwest of Costean Seven.
Rock chip samples taken from eight separate areas between Kerrs Find and the Main Lode were analysed using a Niton XL3T handheld XRF machine ("Niton") have returned grades of up to 20.5% copper. High lead results have also been discovered close to the rift as the Company’s understanding of the geology would predict. All of the new discoveries are shown on the attached plan.
Laboratory assay results of rock chip samples from the previously announced Costean Seven discovery have now been received. Samples were assayed to confirm the Niton results. The laboratory assay results show that the Company’s Niton sampling has been conservative, with both seven metre zones from Costean Seven being under called.
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Niton results
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Laboratory (ALS) results
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7 metres at 5.6% copper
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7 metres at 7.4% copper
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7 metres at 3.0% copper
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7 metres at 5.6% copper
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Further, the laboratory assays also include gold and silver results which have not previously been reported. Laboratory assays returned values up to 2.5g/t gold and up to 59.4g/t silver. The seven metre zone above at 7.4% copper also averages 1g/t gold and 34.2g/t silver. This is an excellent outcome as it could result in substantial gold and silver credits in any copper concentrate produced.
Copper mineralisation at Prairie Downs has been confirmed to occur as bornite. Bornite is very rich in copper and can produce a high grade concentrate. Coupled with the gold and silver that runs with the copper at Prairie Downs, the Company could potentially produce a premium copper concentrate.
Further rock chip samples, including samples from the previously announced Kerrs Find discovery, have been submitted for assay but results are not yet available. Bulk samples have also been submitted for metallurgical testwork with the results expected in time for the completion of the feasibility study, due in the June quarter.
Mapping is expected to be complete within the next few weeks and drilling is expected to commence in June, subject to rig availability. An initial 20,000 metre program of both RC and diamond drilling is planned to drill out the copper discoveries and define extensions to the existing zinc resource.
Mark Hansen
Managing Director
For further information contact:
Elissa Samuel
Investor Relations Manager
esamuel@prairiedownsmetals.com.au
A PDF of this release is available for your convenience. Please click the icon to download. 367.01 Kb
Map Showing Recent Copper Discoveries
Please click the map for an enlarged view.
This map does not include the very significant copper discoveries at Costean Seven and Kerrs Find; maps of these areas have been previously released. The three zinc lodes (Gabbro, Zed and Main) are shown as surface projections.
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| Information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Luke Kerr and by Mr Mark Hansen, both of whom are Members of The Australasian Institute of Mining and Metallurgy. Mr Hansen and Mr Kerr have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Kerr and Mr Hansen consent to the inclusion in this report of the statements based on their information in the form and context in which it appears. |
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