Drilling results for Alta Zinc’s (ASX:AZI) Pian Bracca zinc and lead project in Italy has extended  known mineralisation a further 50m west toward the existing Zorzone resource.

One Pian Bracca drill hole returned 8m at 5.8 per cent zinc, 1.9 per cent lead, and 34 grams per tonne of silver from 35.5m, the company said.

Alta Zinc will test the ground between Pian Bracca and the highly prospective and largely unexplored northwest corridor towards the Ponente zone.

Zinc prices on the London Metal Exchange are at $US2,450 per tonne, and back to levels last seen in January before the onset of the COVID-19 crisis.

Investment funds and speculative money have been ploughing into zinc contracts, according to analysts.

Alta Zinc (ASX:AZI) share price chart


Dreadnought Resources (ASX:DRE) said 3-D magnetic and gravity data has confirmed a 500m by 400m high density anomaly at its Fuso and Paul’s Find copper-gold targets in WA’s Kimberley region.

The geophysical signature is typical of Proterozic copper and gold deposits such as ones in Tennant Creek and Mt Isa, said the company.

Managing director Dean Tuck said the company was excited about the survey results which highlight the attractiveness of an area that has gone unexplored since 1978.

“Fuso and Paul’s Find are large and intense coincident magnetic-gravity targets completely undercover with an abundance of copper-gold-antimony-bismuth smoke,” he said.

Sky Metals (ASX:SKY) has entered into a purchase agreement for the advanced Galwadgere copper-gold project from Alkane Resources (ASX:ALK) in NSW.

The mineralisation for Galwadgere has been traced over a strike length of 700m, with 400m of the strike covered by younger Permian sediments.

“The untapped potential of the Galwadgere deposit presents Sky with an immediate opportunity to extend and discover high-grade copper-gold mineralisation,” chief executive, Mark Arundell, said.

Historical drilling hits for the project include 47m at 0.9 per cent copper and 1.58 grams per tonne gold from 122m, and previous exploration by Alkane has delineated a shallow, open-ended copper-gold resource at the project.