Join our daily newsletter At The Bell to receive exclusive market insights
- CuFe (CUF) receives all results from the recently completed drilling program at its 60 per cent-owned Tennant Creek project in the Northern Territory
- Over the past two months, a combination of reverse circulation (RC) and diamond drilling as well as two cased water bores were completed
- The program provided data for future resource updates, metallurgical testwork requirements, and water monitoring bores for the environmental approval process
- A total of 27 holes were drilled with up to 6.24 per cent copper and 6.73g/t gold intersected
- Shares in CuFe are steady on the market and are trading at 1.6 cents at 3:29 pm AEDT
CuFe (CUF) has received all results from the recently completed drilling program at its 60 per cent-owned Tennant Creek project in the Northern Territory.
Over the past two months, a combination of reverse circulation (RC) and diamond drilling as well as two cased water bores were completed.
The program aimed to provide data for future resource updates, metallurgical testwork requirements, and water monitoring bores for the environmental approval process.
CuFe drilled 27 holes for 2410 metres in areas with limited data, with the intention that specific holes would serve as pre-collars for diamond extensions.
Significant results include five metres at 6.24 per cent copper and 3.89 grams per tonne (g/t) gold from 99 metres, and seven metres at 1.75 per cent copper and 6.73 g/t gold from 145 metres.
Executive Director Mark Hancock said the company successfully confirmed the existence of high-grade ore, generated diamond core for metallurgical testing and received water data for the environmental approval process.
“We will continue to progress activity on all these streams as well as looking into the remaining exploration potential at areas such as Gecko, Goanna and Monitor, all of which has shown potential to host high-grade copper mineralisation in previous drilling.”
Shares in CuFe were steady on the market and were trading at 1.6 cents at 3:29 pm AEDT.
