M3 Mining (ASX:M3M) receives assay results from second RC drill program at Victoria Bore

• M3 Mining (M3M) receives results for its second reverse circulation (RC) drilling program undertaken at the Victoria Bore copper project in WA
• The program identified graphitic shale units to be the source of the geophysical targets, along with trace occurrences of base metals like copper, silver, nickel, zinc and lead in all holes
• This has expanded the footprint of known mineralisation surrounding the mine a further 400 metres to the northwest, to a total strike of 1250 metres
• The company is awaiting analysis from a consulting group to provide further understanding on the source of the previously mined high grade copper at the project
• M3 Mining are down 16 per cent, trading at 10.5 cents as of 1:25 pm AEDT

M3 Mining (M3M) has received assay results for its second reverse circulation (RC) drilling program undertaken at the Victoria Bore copper project in Western Australia.

The three-hole program, totalling 607 metres, tested strong electromagnetic conductors along strike from a high-grade historical copper occurrence at Victoria Bore.

The drill holes were thought to have intercepted the mineralised sequence, yet returned only mildly anomalous base metal values.

The program identified graphitic shale units to be the source of the geophysical targets, along with trace occurrences of copper, silver, nickel, zinc and lead in all holes.

This expands the footprint of known mineralisation surrounding the mine a further 400 metres to the northwest to a total strike of 1250 metres.

“The company is awaiting analysis from a consulting group to provide further understanding on the source of the previously mined high grade copper at Victoria Bore,” Executive Director Simon Eley said.

“The group are also reviewing the aeromagnetic and radiometric data recently obtained which will provide us with priority regional targets across the companies 33,000 ha tenure.”

The company is currently investigating the properties of the graphite at Victoria Bore and will update the market in due course.”

However, the continued base metal mineralisation being intercepted at Victoria Bore is still yet to be explained by a succinct theoretical model.

This will be the focus of future work as an external consultant group are engaged to analyse all previously collected data.

M3 Mining were down 16 per cent, trading at 10.5 cents as of 1:25 pm AEDT.