• Assay from second drill hole confirms 170m strike length at Cumbre Coya
  • Mineralisation open in all directions
  • Drilling and target generation ongoing

 

Special Report: Assays coming in from maiden drilling at Firetail Resources’ Cumbre Coya target at its Picha copper project in Peru have confirmed the continuation of copper mineralisation over 170m, with the strike open in all directions and at depth.

At the southern end of Peru’s illustrious copper district where big hitters such as Vale, BHP, Rio and Newmont all have major operations, Picha is showing early signs of ‘supergene’ mineralisation from surface.

 

170m strike length confirmed

Firetail Resources (ASX:FTL) says assays from the second drill hole in its maiden 5,000m diamond drill program at the Combre Coya have confirmed a mineralised structure across a 170m strike length.

Hole 23PCCD0002, collared ~140m southeast of the first hole and drilled down to 340m intersected:

  • 3.15m @ 0.16% copper and 1.6g/t silver from 65.25m
  • 2.85m @ 0.51% copper and 4.4g/t silver from 72.7m
  • 0.75m @ 1.16% copper and 7.3g/t silver from 82.05
  • 1.15m @ 2.30% copper and 11.3g/t silver from 91.35m

The first hole, 23PCCD0001, returned a best result of 15.5m @ 0.72% copper and 130g/t silver from 3.25m.

Assays are pending for the third and fourth holes, which were drilled down to depths of 245m and 573m respectively, testing the extent of the Cumbre Coya fault.

 

Diamond drill hole results and locations at Cumbre Coya. Pic supplied: (FTL)

 

Validation of efforts so far

“The latest results from our Cumbre Coya target at Picha are starting to demonstrate the potential of scale and what a special project this could be,” FTL executive chairman Brett Grosvenor says.

“The confirmation of the continuation of the mineralisation over 170m with the structure open in all directions gives us huge encouragement for what we may have here.

“We continue to be excited about the potential at Picha, and these latest results are a validation of all the hard work by the team in advancing this project.

“Work continues on site as we move into the latter part of the drill program, and we eagerly await the next results to further develop our understanding of this system.”

Further drilling at Cumbre Coya and Cobremani targets are ongoing with additional drilling planned for the Fundicion target where the company has geophysical chargeability anomalies waiting to be tested.

 

 

 

This article was developed in collaboration with Firetail Resources, 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.

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