- Cobre (CBE) has completed reverse circulation (RC) drilling at its Perrinvale Project in Western Australia
- Over 2800 metres were drilled which aimed to extend and test new volcanic-hosted massive sulphide targets
- Drilling focused on the Schwabe, Zinco Rame, Lago Rame and Zinco Lago prospects
- Diamond core drilling is continuing and is expected to be completed within the next week
- Cobre closed 13.6 per cent in the red with shares trading for 19 cents each
Cobre (CBE) has provided an update on its current drilling program at the Perrinvale Volcanic-Hosted Massive Sulphide (VHMS) Project in Western Australia.
In early June, Cobre commenced its third diamond core and reverse circulation (RC) drilling program at the Perrinvale Project.
The RC drilling has now been completed with 2883 metres drilled (including 120 metres of pre-collars for core holes). Diamond core drilling is continuing but is expected to be completed within the next week.
Drilling focused on the Schwabe, Zinco Rame, Lago Rame and Zinco Lago prospects and aimed to extend current VHMS mineralisation and test new VHMS targets.
Schwabe
Drilling at Schwabe aimed to generate a mineral sample for metallurgical testing. A total of three diamond core holes were drilled with assay results now received for the first hole, along with visual and portable x-ray fluorescence (XRF) observations for the second and third holes.
The first hole intersected 3.5 metres at 3.4 per cent copper, 0.8 per cent zinc, 0.10 per cent cobalt, 368 parts per million (ppm) lead, 1.1g/t gold, and 16.5g/t silver from 48 metres, and 3.5 metres at two per cent copper, 1.4 per cent zinc, 0.07 per cent cobalt, 344 ppm lead, 0.3g/t gold, and 7.4g/t silver from 54.5 metres.
These results confirm the presence of high-grade VHMS mineralisation at Schwabe. Mineralised core will be delivered to the metallurgical lab this week for testing.
“I am pleased that the early results from our third drilling campaign at the Perrinvale Project has identified the presence of additional VHMS mineralisation in our exploration area,” Executive Chairman and Managing Director Martin Holland said.
“In particular, our preliminary drill results suggest continuity of the mineralised interflow horizon to the north and south of the high-grade massive sulphides at the Schwabe Prospect,” he added.
A deeper diamond core hole at Schwabe is currently testing the down dip potential of the mineralisation. This drilling is targeting the mineralised horizon approximately 100 metres down dip of the previous diamond core holes at an expected depth of 350 metres.
Zinco Lago, Zinco Rame and Lago Rame prospects
In total, four diamond core holes and two RC holes have been drilled at Zinco Lago, Zinco Rame and Lago Rame as part of this drilling program. The diamond core has now been cut and submitted for assay, along with the RC samples.
Visual observations from drill core and RC chips have confirmed the continuity of the mineralised horizon along trend at all three prospects.
The deeper holes drilled to the east at Zinco Rame and Lago Rame have intersected a potential sub-parallel zone of mineralised sediments.
The combination of exploration drilling, surface mapping and modelled conductors suggests an increase from around 2.5 kilometres to 3.8 kilometres of prospective stratigraphy in this location.
Additional targets
Cobre has also completed RC drilling at the Ponchiera Copper, Ponchiera North, Costa del Islas, and Piega del West prospects within the Perrinvale Project.
A total of 1488 RC samples have been submitted for multi-element assaying from these locations. The assay results are expected over the coming weeks.
Cobre closed 13.6 per cent in the red with shares trading for 19 cents each.