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- Comet Resources (CRL) has outlined its initial exploration target at the Barraba Copper Project in New South Wales
- Following an environmental and logistics assessment of the site, the company has selected the past-producing Gulf Creek Mine as its initial focus
- The company plans to begin exploration by testing areas below and along strike surrounding the past-producing mine
- Following the testing, Comet will perform downhole geophysical surveying in and around the mine site to further define potential volcanic massive sulphide targets
- Comet Resources shares are unchanged at market open, trading for 1.6 cents per share
Comet Resources (CRL) has outlined its initial exploration target at the Barraba Copper Project in New South Wales.
In preparation for the upcoming drill program, Comet’s Consulting Geologist, Mart Rampe recently completed an environmental and logistics assessment of the site. As part of the assessment Mart visited the project’s past-producing Gulf Creek Mine.
Based on the assessment, the company has now placed the historic mine at the centre of the site’s maiden program.
Thus far, the project has never been systematically tested using modern exploration methods. The company plans to begin exploration by testing areas below and along strike surrounding the past-producing mine.
Following the testing, Comet will perform downhole geophysical surveying in and around the mine site to further define potential targets in the area. Previous induced polarisation surveying has already delineated other targets in the area, which the company expects to also test in the upcoming program.
Comet hopes the mine indicates further volcanic massive sulphides in the area, as this type of mineralisation is known to occur in close clusters.
With copper prices currently at a two-year high, after rebounding quickly following the onset of the COVID-19 pandemic, Comet will be eager to commence exploration work.
Comet Managing Director, Matthew O’Kane, commented on the upcoming program.
“Based on our recent site work, we propose to focus initial physical exploration at Barraba on the Gulf Creek deposit area, where we see clear prospectivity. We’re now finalising a drilling plan aimed at confirming the presence and extent of mineralisation there not just for high-grade copper but also for other base and precious metals,” he said.
Comet Resources shares are unchanged at market open, trading for 1.6 cents per share at 10:24 am AEST.
