Join our daily newsletter At The Bell to receive exclusive market insights
- Ozz Resources (OZZ) identifies two “highly prospective” gold, copper and nickel targets at its Rabbit Bore project located 55 kilometres north of Cue and 60 kilometres south-west of Meekatharra in Western Australia
- Geochemical soil sampling was completed in November last year using the ultra-fine assay technique developed by the CSIRO to better detect subtle anomalies under transported cover
- A large discrete copper anomaly and separate elevated gold and nickel results around historic workings have been identified
- The two target zones will be prioritised for drilling, scheduled to commence as soon as possible
- OZZ shares flat at 11.5 cents
Ozz Resources (OZZ) has identified two “highly prospective” copper, gold and nickel targets from recent geochemical sampling across its Rabbit Bore project, located 55 kilometres north of Cue and 60 kilometres south-west of Meekatharra in Western Australia.
The soil sampling program, which used the ultra-fine assay technique developed by the CSIRO to better detect subtle anomalies under transported cover, outlined a discrete two-kilometre-long copper and gold anomaly in the central west area of the project.
The anomaly returned soil assay results of up to 669 parts per million (ppm) of copper and the company said it provided “a compelling target for drilling”.
Ozz also uncovered a separate one-kilometre-long gold anomaly coincident with the interpreted extension of the regionally significant Big Bell Shear.
The adjacent ultramafic rock unit contains elevated nickel-platinum-palladium and chromium values, which the company said enhances the possibility of sulphide-hosted nickel and platinum group elements (PGE) mineralisation.
“It’s not often that you are able to find such large targets, prospective for a suite of different metals, in an area where no previous drilling exists in the north-eastern Goldfields,” Managing Director Jonathan Lea said.
“We are planning to commence drilling as soon as possible, subject to government and heritage approvals.”
Ozz said the drilling would be carried out in conjunction with planned upcoming drilling at its Maguires Gold project.
It was also considering undertaking either airborne or ground-based electromagnetic surveys over the Rabbit Bore target areas aimed at identifying potential conductors that could unearth a clearer vector for drill targeting.
OZZ shares were flat at 11.5 cents at 2:25pm AEDT.
