- Minerals 260 (MI6) finds a second “significant” zone of shallow copper-gold mineralisation at its Moora project in WA’s Julimar mineral province
- The company says its recently completed drilling program has identified two separate copper-gold zones, Mynt and Zest, and a gold zone, Angepena
- Better assay results from the new Zest prospect include 12 metres grading 1.4 per cent copper and two grams per tonne gold from 72m and MI6 says mineralisation at the Zest and Mynt prospects appear to be identical in style with similar geological settings
- Managing Director David Richards says the company has a “large, under-explored project with serious exploration upside”
- MI6 shares trading 9.38 per cent higher at 52.5 cents
Minerals 260 (MI6) drilling has revealed a second “significant” zone of shallow copper-gold mineralisation at its Moora project in WA’s Julimar mineral province.
The company said the drilling program completed earlier this year had identified two separate copper-gold prospects, Mynt and Zest, and a gold zone, Angepena, with all mineralised zones remaining open.
Better assay results from the new Zest prospect included 12 metres grading 1.4 per cent copper and two grams per tonne gold from 72m, while Mynt recently returned 24m at 1.9 per cent copper and 0.7 g/t gold from 99m.
MI6 said Zest and Mynt mineralisation appears to be identical in style with similar geological settings.
The company’s Moora project forms part of a contiguous, 1,000-square-kilometre land position, which also includes the adjacent Koojan joint venture (JV) where the company is in a JV with Lachlan Star (LSA) and has the right to earn up to 51 per cent equity.
“Taking into consideration the scale of the project and the relatively limited nature of the first RC/diamond drill program, we have already discovered two significant zones of copper-gold mineralisation and one large gold zone – an outstanding result in such a short space of time,” MI6 Managing Director David Richards said.
“What is even more exciting is that we have intersected mineralisation at the new Zest prospect in an area with no geochemical anomalism, suggesting that large portions of the gravity and magnetic anomalies remain untested.”
He said in short, the company had a “large, under-explored project with serious exploration upside”.
MI6 shares were trading 9.38 per cent higher at 52.5 cents at 11:20 am AEST.