- Minerals 260 (MI6) confirms a wide copper-gold zone at its Moora Project in Western Australia
- In January, the company completed a 37-hole diamond core and reverse circulation drilling program, which returned up to 1.9 per cent copper and 0.7 grams of gold per tonne (g/t) from up to 123 metres at the Mynt Prospect
- The company says the coincidence of mineralisation with significant geochemical and geophysical anomalies indicates the potential for a large sulphide-related system
- Assays still remain pending for a further 23 holes
- Minerals 260 last traded at 47 cents on March 3
Minerals 260 (MI6) has confirmed a wide copper-gold zone at its wholly-owned Moora Project in Western Australia.
In January, the company completed a 37-hole diamond core and reverse circulation drilling program for 6,196 metres over prospects coincident with the Mt Yule Magnetic anomaly.
Results from the Mynt prospect included 24 metres at 1.9 per cent copper and 0.7 grams of gold per tonne (g/t) from up to 123 metres, including two metres at 5.1 per cent copper and 1.3g/t gold from 102 metres.
The company said the coincidence of mineralisation with significant geochemical and geophysical anomalies indicates the potential for a large sulphide-related system.
Meanwhile, a moving loop electro-magnetic survey defined a second potential conductor, boasting similar characteristics to the other electromagnetic anomaly. This second potential conductor was also coincident with a 700 metres long copper-in-soils anomaly.
Minerals 260’s Managing Director, David Richards, affirmed that the recent drilling and geophysical results continue to highlight the potential for large mineralising systems at Moora.
“While we still have a lot of assay and other data to review and analyse, we are developing a clearer understanding of the priority areas for follow-up drilling,” said Mr Richards.
“We are adopting a systematic approach to exploration, utilising the very best tools available to us to determine how best to unlock the broader potential of these outstanding projects.
“Given the area was previously unexplored and is still an immature exploration terrain compared with other areas in the state, we believe the upside to be significant.”
Assays are still pending for 23 holes, which largely targeted the Angepena prospect.
Minerals 260 last traded at 47 cents on March 3.