DMC Mining eyes base and precious metals potential at Gibb River
Assays have been returned for DMC Mining’s legacy Exploration Incentive Scheme (EIS) funded drillhole KCDD19001 at its Gibb River copper project in WA.
KCDD19001 was drilled in 2019 by a previous explorer and was never analysed – despite copper minerals observed.
The company believed there was potential for the Carson Volcanics to host base and previous metal deposits – and that was shown to be the case with local zones of anomalous copper and gold identified, including:
DMC Mining (ASX:DMM) says the presence of anomalous mineralisation in the hole – which is over 10km from the historical outcrop drilling to the north – supports a large area of exploration area potential.
The company is confident the results illustrate the potential for the previously unexplored Carson Volcanics to host base and precious metal deposits, and executive chairman David Sumich says the results are a very encouraging “proof of concept” for DMC’s exploration model.
“The project has widespread copper anomalism across 27 historic drill holes and now includes this recent diamond drill hole,” he said.
“The exploration model is for Zambian style sedimentary exhalative (SedEx) or Mississippi valley type (MVT) deposit around the Menuairs Dome.
“We look forward to progressing exploration on the project.”
The company is now progressing the application to grant and review exploration rationale for the region, and anticipates the processing of HyLogging (a fancy machine that uses visible and infrared light to characterise selected minerals from drill cores and chips) to be completed by CSIRO/GSWA and made available soon.
This article was developed in collaboration with DMC Mining, 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.