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Golden Deeps Ltd (ASX:GED) has identified thick copper and zinc mineralisation through a program of diamond drilling at its Havilah project in New South Wales, with one hole showing sections of semi-massive copper and zinc sulphides (chalcopyrite and sphalerite) in addition to vein and disseminated sulphides across 80 metres.
The drilling was built around key targets at Havilah, and the drill hole in question (HVD003) was seeking to assess an extensive copper soil and rockchip anomaly named Hazelbrook, which- graded above 1% copper.
The 80-metre zone of vein and disseminated sulphides was connected to the Sofala Volcanics, which were also a target.
Within the mineralised section of HVD003 was also a zone of more intense sulphide mineralisation – stretching 28 metres long, from 85.8 metres) – which yielded high-grade portable XRF (pXRF) readings of up to 18.5% Cu and 34.8% Zn, with an average of 0.5% Cu and 0.7% Zn.
CEO Jon Dugdale said all indications were there to show this might be a significant discovery.
“The intersection of sulphide mineralisation in all three initial holes at Havilah, including thick zones of copper and zinc sulphide mineralisation in HVD003, indicates we’re on top of a large porphyry-sulphide system with similar characteristics to other major copper-gold discoveries in the Lachlan Fold Belt such as Cadia-Ridgeway and the recent Boda-Kaiser discovery,” he said.
“We look forward to completing the remainder of our diamond drilling program and receiving the laboratory results from the holes completed, which will be released as soon as they come to hand and are compiled.”
Shares in Golden Deeps shot up on the news, and at 11:17 AEST, they were trading at 7.6 cents – a rise of 171.43% since the market opened.
