- Stelar Metals (SLB) adds exploration licence EL6803 (Baratta copper project) to its South Australian assets following a grant from the State Government
- The new licence is located opposite the historical copper mine which produced copper more than 100 years ago
- Baratta is considered to be prospective for both Zambian-style sediment-hosted copper and Mississippi Valley type (MVT) lead-zinc mineralisation
- Initial work programs has been planned at the project, which includes geological mapping, soil and rock-chip sampling
- Shares in Stelar Metals are up 2.70 per cent, trading at 19 cents as of 12:33 pm AEST
Critical minerals explorer Stelar Metals (SLB) has been granted its exploration licence EL6803 for the Baratta copper project in South Australia, from the SA Government.
The project is considered by the company as prospective for both Zambian-style sediment-hosted copper and Mississippi Valley type (MVT) lead-zinc mineralisation.
The newly granted tenement is sitting adjacent to the historical Baratta copper mine which produced copper more than a 100 years ago.
The company said it is committing to an aggressive exploration program in this “world class” mining district, adding it to Stelar’s portfolio of highly prospective copper and zinc projects.
CEO Colin Skidmore reiterates the company’s statement, saying the tenement bolsters Stelar’s portfolio of projects in the Adelaide Fold Belt.
“Exploration to date on EL 6803 has been very limited to date, but has revealed some interesting anomalies and mapped out extensive tracts of mineralisation at surface.
“Stelar looks forward to starting field work on this tenement in the coming months.”
Stelar confirmed that Baratta area has been explored by Panda Mining from 2007 to 2016. Reconnaissance exploration and target generation work were carried out but targets were not drill tested.
The company has planned initial work programs to include geological mapping, soil sampling and rock-chip sampling focusing on the Tindelpina Shale Member and the diapiric structures to refine targets for future drill testing.
The available existing geophysical datasets are also being compiled and reprocessed to assist in determining geology and the structural architecture.
The IP data that was collected previous explorers is being re-compiled, inverted and modelled for targeting.
Shares in Stelar Metals were up 2.70 per cent, trading at 19 cents as of 12:33 pm AEST.