ITech Minerals has defined a new horizon with suggestions of polymetallic copper-gold-silver-lead mineralisation, as well as VMS potential. Pic: Getty Images.
ITech spies VMS potential at Reynolds Range
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- Field work at ITech Minerals’ Reynolds Range Project defines a new 26km long horizon with polymetallic potential
- The nature of the mineralisation and geological context suggests a volcanogenic massive sulphide style – typically high grade and copper rich
- Highlights include 19.6% copper and 12.2g/t gold, as well as 785g/t silver
Special Report: Exploration at iTech Minerals’ Reynolds Range project in the underexplored Northern Territory has defined a new horizon highly prospective for copper-gold-silver-lead and volcanogenic massive sulphide style mineralisation.
Ongoing field work at iTech Minerals (ASX:ITM) Reynolds Range has defined a new 26km-long horizon showing strong potential for that nature of discovery, known to host some of the highest grade and most profitable base metals deposits across Australia and the world.
Latest significant results from rock chip sampling at the Reward Copper-Gold Prospect include 19.5% copper, 3.15g/t gold and 2090g/t silver, along with 19.6% copper, 12.2g/t gold and 785.0g/t silver.
The prospective horizon sits above a regionally extensive magnetic complex which ITM has identified as being aligned with significant copper-gold-silver-lead mineralisation in rock chips at the Scimitar and Reward Prospects.
Why VMS discoveries are on the money
VMS deposits are one of the richest sources of metals such as copper and lead globally, and can also produce economic amounts of gold and silver as byproducts.
They have the potential for long-term production thanks to the common presence of clusters of deposits or ore lenses close to each other, along with the polymetallic nature of the ore which helps balance out volatility in any one commodity.
ITM Managing Director Mike Schwarz says the ongoing fieldwork, including mapping and sampling, is allowing iTech to develop a model for regional polymetallic copper-gold-silver mineralisation across the Reynolds Range Project.
“The coincidence of an extensive magnetic complex, high-grade mineralisation in rock chips and regionally significant electromagnetic anomalies suggest a compelling exploration target for VMS mineralisation across a strike length of over 26km. iTech plans to drill test the most compelling target at Scimitar in coming months.”
Earlier this month, iTech reported high-grade copper and gold results from follow up sampling at the Stanley, Pine Hill, Trout 2 and Cutlass prospects.
ITech has also recently added hot metalloid antimony to the list of minerals that can be found at Reynolds Range. Recent rock chips from the Sabre and Falchion prospects returned assays of 22% antimony, 7g/t gold and 1.2g/t silver as well as 12.6% antimony, 1g/t gold, 90g/t silver and 4% lead respectively.
It has completed two more mapping and sampling programs to defining new prospects and areas of gold and copper-gold mineralisation across the tenement package, with results pending.
This article was developed in collaboration with ITech Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
