Copper system at Mt Flora keeps growing ‘beyond original interpretations’, Duke says
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The mineralised system at Duke’s ‘Mt Flora’ target is more extensive than first thought. New drilling results confirm that, one: the entire Mt Flora hill is mineralised, and two: it will join up with the neighbouring ‘Quarry Lode’ mineral system.
The Mt Flora prospect — Australia’s highest-grade copper mine in the 1800s –is Duke Exploration’s (ASX:DEX) first high priority target for development at the flagship Bundarra project in Queensland.
The Mt Flora resource areas and the adjacent Quarry lode keep growing in scale.
Highlight new intersections from Mt Flora include 3m at 4.41% copper, 56g/t silver and 0.093g/t gold from 19m; and 3m at 1.32% copper, 45.03g/t silver and 0.007g/t gold from 290 m.
Highlight new intersections from Quarry include 13m at 1.64% copper, 15.63g/t silver and 0.07g/t gold from 75m.
All up, the new results include 145 new intersections of copper, silver and gold mineralisation above a 0.2% Cu cut off, taking the number of intersections above a 0.2% copper cut off to 341.
Those will contribute to the maiden resource estimate at Mt Flora.
Crucially, the new results confirm that the regional VTEM anomaly at Mt Flora is spatially associated with copper and silver mineralisation, providing more confidence that the remaining 36 undrilled VTEM regional anomalies relate to bed rock mineralisation. Huge.
Work on the maiden resource estimate for Mt Flora continues, with the announcement of the maiden resource for Mt Flora on track to be delivered by the end of June.
The Phase Two resource drilling at Mt Flora is planned to continue until mid-year.
“The mineralised system at Mt Flora continues to grow beyond our original interpretations (5,500,000- 12,000,000 tonnes at 0.5-0.8% Cu for 27,000-96,000 tonnes of copper, 5-15g/t Ag for 884,000- 5,780,000 ounces of silver and 0.1-0.1g/t Au for 17,000-38,000 ounces of gold,” managing director Philip Condon says.
“[That includes] the newly discovered Quarry mineralisation, which is contributing significantly to the growing resource potential at Mt Flora.
“We are now entering an exciting phase in the exploration and development of the Bundarra project with the drill testing of the coincident pXRF copper and electrical geophysical anomalies at ‘Quorn’ and ‘Absolon’ started.
“This drilling will give us a better understanding of the potential scale of any mining operation at Bundarra and how quickly we will be able to discover and develop these regional targets to add shareholder value for our investors.”
This article was developed in collaboration with Duke Exploration, 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.