DiscovEx Resources’ joint venture (JV) partner Carnaby Resources has drilled a high-grade intercept of 4m running a grade of 7 per cent copper at their Greater Duchess copper-gold project in Queensland.
The latest hit is included in a longer intercept from the Duchess Central Lode of 10m going 3.3 per cent copper and 0.1 grams per tonne gold, with the steeply-dipping mineralised structure remaining open at depth and laterally. The single hole was drilled late year to chase up an off-hole electromagnetic (EM) conductor identified in an earlier downhole survey.
It is the most recent of three east/south-east-dipping drill holes stepped back progressively to test the down-dip continuity of the Duchess Central Lode. The intercept shows that it dips parallel to the Ivanhoe Lode and at 100m below surface, about 115m east of Ivanhoe.
DiscovEx Resources managing director Toby Wellman said: “DiscovEx is encouraged by the new 4m at 7 per cent copper intercept from the Duchess Central Lode, which highlights the significant exploration upside within the broader project. It remains open at depth and along strike and follow-up drilling is proposed to test the continuity of mineralisation. The company looks forward to Carnaby’s continued progression of the JV and to further discoveries.”
The latest hole’s collar is just 65m to 70m east of a previous drillhole put into the nearby Ivanhoe Lode, which is part of the overall Duchess deposit and has an indicated and inferred mineral resource of 3.7 million tonnes going 0.7 per cent copper and 0.1g/t gold.
The Ivanhoe Lode extends for 1000m, with surface exposure consisting of gossanous quartz, calcite, malachite and chrysocolla.
Management says that below the water table at about 20m depth, the mineralogy turns to chalcopyrite, pyrite and calcite and is confined to shear and vein-related zones striking north/north-east, with mineralisation modelled and estimated to a maximum of 250m depth.
It says Ivanhoe has only been drilled to shallow depths and mostly by single hole traverses. Only seven previous reverse-circulation (RC) drillholes have been put into the Duchess Central Lode through a strike length of 200m, with all intercepts into the lode attaining no more than 100m depth.
The company says it is encouraged by the latest intercept being among the most significant results obtained from the Duchess area.
At surface, the Duchess Central Lode is only about 380m to 400m west of the Duchess mine, which historically produced 205,000 tonnes going 12.5 per cent copper and as far as can be ascertained, shares the same dip as Duchess Central and Ivanhoe.
In short, the overall Duchess area looks like it could have potential for a lode swarm of more than 1km wide that warrants at least one good traverse of deep RC holes from one side to the other, with initial section selection being assisted by geophysics.
DiscovEx holds a 17.5 per cent free-carried interest in 12 exploration permits in the greater Duchess project area in its JV with Carnaby. The JV is onto some good grades in a well-defined resource area and looks like it just needs more deep drilling to potentially stitch together a good cohesive deposit.
Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au
Comments