Culpeo pulls up whopper copper equivalent hit in Chile

The spread was designed to trial for near-surface, high-grade copper and to grow occidental and down-dip extensions of previously-reported high-grade copper-moly intercepts.

Culpeo acquired the 5.5-square-kilometre Lana Corina crushed from SCM Antares successful March 2022. It was drawn to the task by its past production, large copper hits by erstwhile explorers, its perceived low-risk, low-altitude and proximity to bully infrastructure and access. The cognition encloses a copper-bearing porphyry intrusive with upper-level high-grade, copper-rich breccia pipes and it has a historical accumulation of astir 1 cardinal tonnes moving from 1.5 to 2.5 per cent copper.

In June 2022, the institution reported aggregate high-grade intercepts from archetypal drilling, successful summation to a caller breccia tube westbound of the Lana pipe. It was followed successful January past twelvemonth by much long, high-grade copper-moly runs.

Culpeo undertook its archetypal systematic geochemical survey betwixt February and March past twelvemonth on 3km of the north-east-striking cardinal structural zone, successful a bid to find prospective copper-bearing aboveground breccias, alteration, geochemical and structural drill targets.

In March this year, the institution reported that drilling on the 3km prospective corridor had intersected 257m astatine 1.1 per cent copper equivalent from 170m, 173m going 1.09 per cent from 313m and 169m astatine 1.21 per cent from 239m.

A period later, it revealed it had kicked disconnected 2000m of diamond drilling astatine Lana Corina to trial the wide zones of high- people copper-moly identified successful the 3km-wide corridor, with that programme yielding the latest intercept.

Wildcat Resources

Tabba Tabba task – Pilbara region, Western Australia

Hit: 105.3m astatine 1.1 per cent lithium oxide from 213.7m

Wildcat has enactment 228 holes for much than 90,300m of combined reverse-circulation (RC) and diamond drilling into its Tabba Tabba task since it began enactment connected the project. The locality has been prospected for decades for its scope of pegmatite-hosted minerals that see tin, tantalite, niobium, uncommon earths and lithium.

In mid-May past year, Wildcat flagged it would get 100 per cent of Tabba Tabba from Global Advanced Metals, noting astatine the clip from humanities information that it hosted a high-grade tantalum deposit with an estimated mineral assets of 318,000 tonnes astatine 950ppm tantalum pentoxide.

Tabba Tabba lies astir 60km from Mineral Resources’ Wodgina lithium task and mostly wrong 40km from Pilbara Minerals’ world-class Pilgangoora lithium project.

Wildcat kicked disconnected tract exploration astatine the extremity of May past twelvemonth successful mentation for a maiden drilling programme and, with the assistance of a drone survey, soon identified caller pegmatites and extensions to known pegmatites. The institution mobilised a rig and launched its drilling the pursuing July, past sooled a 2nd rig into the fray successful aboriginal August.

Mid-September saw Wildcat uncover “a large lithium discovery”, citing a champion RC drill deed of 85m astatine 1.1 per cent lithium oxide, including 59m going 1.5 per cent lithium oxide, from a pegmatite cluster. A period later, it announced it had completed its acquisition of the task and besides unveiled much drill results.

The Leia pegmatite produced the champion results, including 52m astatine 1.3 per cent lithium oxide from 117m successful 1 spread and 35m astatine 1.5 per cent lithium oxide from 200m successful another. Back then, the onslaught magnitude of Leia was said to beryllium much than 1.5km.

Then the institution began diamond drilling to trial it further, targeting down-dip and plunge extensions of the thicker lithium zones.

The Leia pegmatite is simply a strike-persistent, tabular, spodumene-dominant assemblage that has present been extended to much than 2.2km long. It has thrown up a bevy of thick, high-grade zones, galore intercepts exceeding 50m existent width and assays exceeding 1.3 per cent lithium oxide.

In conscionable implicit a twelvemonth since the archetypal task acquisition, Wildcat has massively precocious Tabba Tabba to the constituent wherever it tin legitimately beryllium designated a important lithium pegmatite “camp”.

Spartan Resources’ Dalgaranga task has been transformed by its caller deep, high-grade golden find astatine the Never Never portion adjacent to the Gilbey’s system.Credit: Supplies

Spartan Resources

Dalgaranga project, Mid West region, WA.

Hit: 19.67m astatine 19.43g/t golden from 765.33m

Spartan’s caller high-grade hit, that besides includes 3.74m astatine 62.98g/t gold, raises an inspirational communicative of a alteration of luck – and institution sanction – astatine its Dalgaranga golden project.

In mid-2022, the institution past known arsenic Gascoyne Resources, drilled a bid of holes northward astatine Dalgaranga to trial the existent width, predisposition and grade of the newly-named Never Never lode that is portion of an hold to the Gilbey’s mineralised system. The programme led to the find of a caller high-grade lode strategy connected the occidental flank of the Gilbey’s North near-mine target.

Standout intercepts confirmed the accordant width and continuity of the high-grade, west-striking and steeply-plunging discovery, including champion results of 59m astatine 12.5g/t golden from 139m, including 13m astatine 51.1g/t gold. The alteration successful drilling orientation, resulting successful the find of a caller benignant of mineralisation astatine Never Never, proved transformational for the project.

The find prompted a firm and strategical re-think and a reappraisal of the semipermanent operating program for Dalgaranga. It yet progressive placing the excavation connected attraction and attraction to alteration the institution to absorption connected defining further high-grade resources and ore reserves earlier rebooting mining and production.

The existent Never Never mineral assets estimation sits astatine 952,900 ounces of golden astatine 5.74g/t, with its deepest down-dip bounds beneath aboveground being astir 850m. Never Never’s latest header deed lies conscionable beneath the 850m-deep level of the existent mineral assets estimate.

Given the singular uniformity of the mineralised structure, the caller intercept represents important down-dip imaginable and scope for Spartan to re-categorise deeper parts of the assets estimation – and a accidental for an adjacent much important institution makeover.

Terra Metals

Onslow task – 40km north-east of Onslow, WA

Hit: 6m astatine 179g/t metallic from 160m.

The high-grade result, which includes 1m astatine 1060g/t silver, 0.23 per cent copper and 0.99 per cent tungsten, is 1 of a suite of assays returned from partial investigation of diamond halfway from Terra’s three-hole, 1283m maiden reconnaissance diamond drilling programme astatine its Onslow project.

The drilling was co-funded by the WA Government’s Exploration Incentive Scheme (EIS) and designed to trial 3 chiseled robust oxide-copper-gold (IOCG) anomalies, allowing the institution to suffice for a refund of astir $200,000. The task is wrong the north-western hold of the Proterozoic Capricorn Orogen successful the north-eastern information of the Carnarvon Basin.

Nearby exploration by Western Mining successful the 1990s identified the imaginable for Proterozoic banded-iron enactment (BIF)- hosted gold, epithermal silver, IOCG deposits and porphyry copper mineralisation styles.

The salient caller metallic deed occurs wrong a broader geological portion that besides carries respectable metallic grades, with the intercept being considered emblematic of high-sulphidation epithermal zones and apt to hap adjacent to an intrusive porphyry stock.

The mineralisation lies wrong an interpreted high-sulphidation epithermal alteration portion that extends for 26m betwixt 158m and 184m and is considered to beryllium linked to a deeper mineralised porphyry source.

Intriguingly, absorption says the drillhole sits connected the borderline of an untested electromagnetic (EM) anomaly it identified from its airborne EM surveying of the country successful 2022 and besides wrong an aeromagnetic anomaly.

Terra’s information came up with 2 high-priority EM anomalies astir 2km to 3km apart, with an evident north-west/south-east onslaught narration betwixt them. The high-sulphidation epithermal metallic mineralisation identified successful the halfway appears to beryllium coincident with the smaller, astir north-westerly EM anomaly.

The archetypal EIS spread tested the bigger EM anomaly to the south-east, which is interpreted to beryllium a conductive assemblage astir 600m agelong and 120m thick, extending down-dip for 120m. Not each of the halfway from the spread was assayed.

Terra says successful presumption of the precocious identified mineralisation associated with the smaller EM anomaly, it volition present reappraisal and selectively illustration the halfway from archetypal spread successful the bigger EM anomaly, successful summation to different geochemical and geophysical datasets.

Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au