RareX is basking in the sunny results returned from partner Kincora Copper’s first drill holes into three prospects at their Trundle project in New South Wales.

The drilling returned significant zones of mineralisation at shallow depths with hole TRDD035 at Dunn’s North intersecting 12.5m grading 2.77 grams per tonne (g/t) gold from a down-hole depth of 77.5m including 2m at 14.2g/t gold.

Over at Dunn’s South, hole TRDD036 intersected a 31m zone grading 0.49g/t gold, 0.25% copper and 55 parts per million molybdenum from 65.9m including 8.6m at 1.21g/t gold, 0.26% copper and 90ppm molybdenum.

Assays are also pending for hole TRDD037 at the Botfield prospect, which intersected notable zones of visible mineralisation.

Drilling is ongoing at the North-East Gold Zone prospect within the project, which RareX (ASX:REE) has a 35% interest in.

Kincora Copper (ASX:KCC) said the intersection of ore grade mineralisation at relatively shallow depths with its first three drill holes is very encouraging.

It noted that Botfield mineralisation is interpreted to be part of a very large porphyry-related copper-gold system while intersecting porphyry style mineralisation at shallow depths with good grades at the Dunn’s North and South prospect also provides significant encouragement in a new area of exploration.

Drill results

The current phase of drilling at Trundle is testing five adjacent systems and separate large-scale porphyry targets across an existing 3.2km mineralised strike.

At Botfield, the first hole was drilled to test for the first time a large magnetic high complex coincident with shallow anomalous copper-gold and an IP chargeability high anomaly.

While assay results are pending, notable zones of visible mineralisation have been prioritized and include coarse banded chalcopyrite-bornite-pyrite epithermal veins (from 128 to 132m), massive magnetite-pyrite-chalcopyrite skarn (>80% magnetite, from 376m to 407m), and a banded magnetite-pyroxene-feldspar skarn with pyrite and chalcopyrite (<30% magnetite from 407m-425m).

Hole TRDD037 supports the current working interpretation that Botfield prospect is located in an uplifted block, in the order of almost 500m, to the immediately adjacent SEZ prospect across an interpreted significant north-south fault zone.

Additionally, the relatively shallow chalcopyrite-bornite-pyrite epithermal veins are new to the project, and support vectors to a more proximal and prospective level in the porphyry system.

Drilling at Dunn’s North was aimed at testing for the first time the down dip potential of previous shallow air-core drilling that had failed to test an IP chargeable high anomaly coincident with the shoulder of a significant northeast-southwest trending magnetic anomaly.

Hole TRDD035 confirmed a near surface intrusive complex, intersected early porphyry style quartz veins (A-type) cutting both diorite(s) and wall-rock volcaniclastic sediments proximal to intrusive bodies intersected towards the top of the hole, and, the presence of early quartz-chalcopyrite and quartz-magnetite-chalcopyrite veins at depth.

At Dunn’s South, hole TRDD036 also confirmed a near surface intrusive complex, intersecting sulphide bearing quartz veins with encouraging gold and copper grades within the intrusions and zones with high molybdenum grades (up to 721ppm) associated with intrusions suggesting a proximal setting to a magmatic source.

Upcoming activity

The Botfield prospect has been prioritised for follow up with hole TRDD039 to step out a further 250m to the east to test the updip coincident magnetic and induced polarisation (IP) chargeability anomaly cores, and at potentially open-pittable depths.

Fertility and petrology analysis is also ongoing at the Dunn’s North and South prospects, which are located 640m apart.

A review has also commenced to consider the potential of further drilling towards the east and along strike towards the north and south, which are both open target areas.




This article was developed in collaboration with RareX, 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.