Silver City defines copper anomaly in the Lachlan Fold Belt
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Special Report: Silver City has identified a 1.2km copper anomaly at the Wellington project in the Lachlan Fold Belt, New South Wales.
Barely a month after executing a binding option to acquire the Wellington project, the company has identified the anomaly from historic works at the Wilunga copper prospect.
Silver City Minerals (ASX:SCI) says the anomaly at Wilunga was identified with soils that recorded coherent copper mineralisation with peak values of 2,000 parts per million (ppm) copper and 80ppm molybdenum.
Mineralisation was reported as quartz-sulphide veins containing pyrite, chalcopyrite, molybdenite and weathered products. Pyrite and chalcopyrite are minerals often associated with gold and copper deposits.
The company added that a review of historical exploration at Wellington has concluded that it hosts potential porphyry copper-gold mineralisation and other styles of mineralisation.
Due diligence on the project is continuing.
Wellington covers more than 200sqkm within the Molong volcanic belt, with most of the package containing the same rocks that host both the Boda discovery about 15km to the north and the operating Cadia mine 85km to the south.
The potential for porphyry is exciting as they tend to be extensive and can make a lot of money over a long period of time.