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Orbminco Ltd (ASX:OB1) has seen its share price zoom up by 33% after it told investors that notable new drill targets had been defined at the Bronze Fox copper-gold project in Mongolia, following sampling of a historic trench.
Sampling of the West Kasulu trench yield yielded results that included 17 metres of 0.5% copper (Cu) and 0.34 grams per tonne (g/t) of gold (Au), including six metres of 1.0 % Cu and 0.6g/t Au; and four metres at 0.6% Cu and 0.2g/t Au.
The features of this western area are promising, with the trench largely unsampled, and West Kasulu being open in its facing direction – with mineralisation found under shallow cover and with several strong chargeability anomalies also discovered in an induced polarisation (IP) survey in 2018.
Orbminco intends to proceed with similar surveying work – in addition to geological mapping – across West Kasulu’s western extension, to pick out targets for drilling to be conducted in the second quarter of 2025.
Managing director Ralf Kriege said further drilling work would help to better define the underlying mineralisation at this project.
“The new trench results, coupled with drilling results from the 2024 program and review of existing chargeability anomalies supports an extension of existing geophysical coverage and a proposed high-priority drilling program to better understand the higher-grade potential of the open western strike,” he said.
Orbminco traded up 33.3% through Thursday to sell at 0.2cps.
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