- West Cobar Metals (WC1) completes diamond drilling at its Mount Jack Project in north-western NSW
- A single hole was drilled, consisting of 141 metres of mud rotary drilling and 210.1 metres of diamond core
- The hole intersected highly magnetic vesicular basalt at 348.1 metres while analysis for gold and base metals returned no significant values
- Drilling has been planned for the Cawkers Well Project to test gold mineralised structured identified from aeromagnetics
- Shares in West Cobar were up 7.4 per cent at 14.5 cents
West Cobar Metals (WC1) has completed diamond drilling at its Mount Jack Project in north-western NSW, with analysis for gold and base metals showing no significant values.
The Mount Jack Project is considered prospective for a Cobar-style copper-gold deposit with historical records showing traces of gold and copper in previous holes.
A single hole, MJD01, was drilled, consisting of 141 metres of mud rotary drilling and 210.1 metres of diamond core.
The hole intersected highly magnetic vesicular basalt at 348.1 metres with highly magnetic basalt pebbles from 229.8 metres to 243.4 metres.
Drilling is also planned for the Cawkers Well Project to test gold mineralised structured identified from aeromagnetics.
Historical water well sinking identified gold in sediments with some small-scale mining undertaken at the Golden Ridges mine within Cawkers Well.
Soil sampling geochemistry identified a 600-metre strike with more than 10 parts per billion) gold anomaly that coincides with the northwest-trending structures identified from the aeromagnetic data.
Observations of the historical drilling from Golden Ridges indicated it was too shallow and the reverse circulation holes (RC) were poorly positioned to test the mineralisation.
“Although not successful, the drill hole at Mount Jack was a clear and definitive test from the geology intersected and the laboratory analyses,” CEO David Pascoe said.
“Our exploration rationale of rapidly and effectively drill testing early-stage projects which are considered to have potential for major deposits will continue.
“We look forward to success with RC drilling at West Cobar’s next project, the Cawkers Well gold prospect.”
Shares in West Cobar were up 7.4 per cent at 14.5 cents in late trading.