Base Metals: New World is looking to grow its copper-gold-zinc resource in New Mexico
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US-focused New World Cobalt (ASX:NWC) has identified a promising anomaly that could expand the copper-gold-zinc resource at its Tererro volcanogenic massive sulphide (VMS) project in New Mexico.
New World — which acquired the project earlier this year — said previous drilling on the margins of the ‘Jones South’ anomaly had consistently returned thick intersections of massive sulphide mineralisation.
Top hits include 27.6m at 1.15 per cent copper, 5.84 per cent zinc, 10.7 grams per tonne (g/t) silver and 2.5g/t gold.
Jones South coincides with the western margins of the lower zone of massive sulphide mineralisation at the Jones Hill deposit, which already has a resource of 5.7 million tonnes grading 1.02 per cent copper, 1.96g/t gold, 1.46 per cent zinc, 0.24 per cent lead and 22g/t silver.
Mineralisation at Jones Hill remains open along strike in both directions and at depth, giving New World substantial room to grow at Tererro.
Besides Jones South, which extends over more than 1000m of strike, the company has also identified an even stronger anomaly about 400m north of Jones Hill.
This north‐south trending anomaly is 500m wide and at least 700m long though no drilling has even been undertaken in this area.
Other smaller anomalies that could host additional mineralisation were also identified by the company’s CSAMT geophysical survey.
“This is an exciting new development for the Tererro Project ahead of our maiden drill program,” managing director Michael Haynes said.
“The CSAMT survey has revealed two outstanding large targets – one located immediately south of the Jones Hill Deposit and one 400m to the north – amongst many other promising anomalies that potentially arise from VMS‐style mineralisation.
“The Jones South target in particular is a compelling opportunity given the exceptionally thick zones of VMS mineralisation drilled on its margins by previous explorers.”
Kopore Metals (ASX:KMT) has struck pay dirt with its first hole at the Qembo Dome prospect in Namibia, intersecting 2.07m grading 0.5 per cent copper and 65.96g/t silver.
The company said the priority for future drilling will be to identify high grade copper-silver mineralisation and understand the controlling structures in the Otjari/Qembo corridor within the Kalahari Copper Belt.
Meanwhile, Helix Resources (ASX:HLX) has outlined four new copper targets through auger sampling at the Collerina Copper Trend in New South Wales.
It is now planning to carry out more sampling to prioritise targets.