- Copper producer Austral Resources (AR1) releases a maiden mineral resource for the Enterprise deposit within its Eastern Succession tenements in Queensland
- The mineral resource is classified as inferred and reads 580,000 tonnes at 1.3 per cent copper with a 0.7 per cent copper cut-off
- As it neighbours other current copper operations, it has the potential to improve with further exploration
- The resource was originally planned by CST Minerals’ Lady Annie Exploration to determine the next phase of resource definition infill drilling
- Austral is up 1.12 per cent on the market with shares trading at 45 cents at 12:20 pm AEST
Austral Resources (AR1) has released a maiden mineral resource for the Enterprise deposit within its Eastern Succession tenements in Queensland.
The mineral resource is classified as inferred and reads 580,000 tonnes at 1.3 per cent copper with a 0.7 per cent copper cut-off.
The mineralisation spans over 200 metres in depth and remains open at depth with the core appearing to lengthen at depth.
As the mineral resource neighbours other current copper operations, it has the potential to improve with further exploration.
The resource was originally planned by CST Minerals’ Lady Annie Exploration to determine the next phase of resource definition infill drilling.
In 2015, CST drilled four discovery holes at Enterprise and a further 44 in 2016 to target chargeability anomalies.
Prior to this, multiple geophysical surveys were undertaken to orientate the drill rig to provide an optimal angle of intersection.
The mineral resource and mining studies have indicated potential for a small sulphide open pit mine.
Further, it warrants further work which includes drilling to test the depth potential and infill current drill spacing, metallurgical evaluation and density measurement.
Austral was up 1.12 per cent on the market with shares trading at 45 cents at 12:20 pm AEST.