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- DevEx Resources (DEV) prepares to begin 16,000-metre drilling program at the Junee Porphyry Copper-Gold Project in New South Wales
- Drilling will test a major shallow bedrock anomaly identified in July as well as multiple anomalies beneath it that indicate potential sulphide mineralisation
- DevEx also receives results from two holes drilled at the Wilga Downs Project which intersected base metal mineralisation
- While results indicate ‘Cobar basin-type’ base metal mineralisation, the potential for higher-grade gold and base metal mineralisation remains unclear
- Company shares are up 1.52 per cent to trade at 33.5 cents at 1:15 am AEST
DevEx Resources (DEV) has highlighted some drilling plans at the Junee Porphyry Copper-Gold Project in New South Wales.
The 16,000-metre aircore, reverse circulation and diamond drilling program will test a shallow two-kilometre-long bedrock anomaly. This anomaly was identified in July this year and returned grades of up to 3.5 grams of gold per tonne (g/t) and 1410 parts per million copper.
Additionally, multiple anomalies have been identified beneath the bedrock anomaly which indicates the potential for underlying sulphide mineralisation.
The company has received drilling approvals and has signed a drilling contract for the program to begin in late October.
DevEx Resources has also received assays from two diamond holes drilled at the 80 per cent-owned Wilga Downs Project in New South Wales.
Both holes aimed to test two off-hole electromagnetic conductors (EM) and intersected zones of massive pyrrhotite with associated disseminated base metal mineralisation.
Results include 7.8 metres at 1.04 per cent zinc from 404 metres and three metres at 0.23 per cent copper from 419 metres.
While these results indicate ‘Cobar basin-type’ base metal mineralisation associated with the magnetic anomalies and EM conductors, the potential for higher-grade gold and base metal mineralisation remains unclear.
Company shares were up 1.52 per cent to trade at 33.5 cents at 1:15 am AEST.
