A ‘promising, polymetallic mineralised system is emerging’ at Metalicity’s Mt Surprise
Copper hunter Metalicity says there’s a “promising polymetallic mineralised system emerging” at the Mt Surprise project in north Queensland after rock sampling returned hits up to 9.45% copper and 614g/t silver plus high grade tin and lead.
Since Metalicity (ASX:MCT) acquired Mount Surprise in August 2022, the project has certainly lived up to its name.
Analysis of 161 historical rock chip samples returned several samples with significant copper grades including a top assay of 27.5% copper, while others contained anomalous grades of gold (1.32g/t) and other base metals (18.8% lead).
The company was soon ‘surprised’ by the sheer volume and quality of polymetallic targets they identified.
These copper and base metal anomalies are open in multiple directions with the presence of pathfinder elements such as Molybdenum (Mo), Bismuth (Bi), Tungsten (W), Cobalt (Co) and Silver (Ag) “potentially representative of larger mineralised systems” Metalicity says.
In April the company added the nearby Georgetown project to its Queensland portfolio.
New assay results from June rock sampling program at Mount Surprise and Georgetown has returned impressive results – especially at Mount Surprise, where a “promising, polymetallic mineralised system [is] emerging”.
Metalicity (ASX:MCT) identified a highly mineralised multi-element gossan (weathered rock, usually outcropping) 2.5km along trend from the Copper Cap prospect, with base metal hits of 32% lead, 1.25% copper and 104g/t silver in one sample alone.
The explorer says the gossanous area is over 50m long and up to 7m wide in places and had visual copper minerals and base metal mineralisation similar to Copper Cap.
Additional mineralisation and surface oxidation was observed 300m northeast along trend from the main mineralised gossan, supporting a potential north-south oriented mineralised trend up to 4-5km in length, it says.
Mapping and sampling 5km west of Copper Cap at the Copper Dyke prospect showed vein thickness of up to 1.5m in sections and had copper mineralisation all the way along the entire >250m strike length.
The presence of tin along with copper within the vein is also encouraging and indicates Mt Surprise is potentially part of a “highly varied poly-metallic mineralised system with exceptional potential”.
Another high-priority target, Mountain Camp Hills, was also mapped and sampled, returning high levels of anomalous molybdenum and iron, which Metalicity suggests “has notable features of intrusive porphyry related mineralisation similar to the high-grade Kidston gold mine 140km southwest of the project and warrants further thorough investigation.”
Preliminary reconnaissance exploration at tenement EPM 28121 of the Georgetown project 50km west of Mt Surprise assessed access and investigated areas of significance identified by QLD Geological Survey Mapping.
The explorer identified several previously mapped pegmatites within close proximity to a larger granite body and further exploration will be conducted in the southern areas closer to the Georgetown/Forsyth central mining district.
Metalicity MD Justin Barton says the assay results and latest field reconnaissance further highlight the exploration discovery potential of northwest QLD.
“To continue to identify additional significant grade mineralisation that remains open and extends our potential copper trend to ~4-5km, and identify several new significant mineralised areas is very encouraging,” Barton says.
Further exploration across both projects will focus on identifying further copper mineralisation and targeted activities around the Mountain Hills breccia and the Mt Surprise project.
“This work will assist us in better-defining targets and plan potential future exploration campaigns,” Barton says.
“With so much area still underexplored across our extensive project area, Metalicity is continuing to investigate other methods of exploration which can further enhance the prospectivity of the tenure and importantly refine target areas for potential discoveries.”
This article was developed in collaboration with Metalicity, 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.