Geophysical surveys have revealed three new targets along strike from Silver City Minerals’ flagship Copper Blow project in New South Wales.

Investors welcomed the news, pushing Silver City’s shares up 9 per cent on Wednesday to 3.6c.

Broken Hill is traditionally known for silver, lead and zinc – but investigations by Silver City (ASX:SCI) show the western NSW town also contains an abundance of copper and gold.

Silver City has recently reported a number of high-grade copper, gold, silver and cobalt results from Copper Blow. 

The latest survey took place over Copper Blow and parts of the prospective horizon. In geology, a horizon refers to a layer of rock with a particular composition.

The results show the magnetic horizon extends 3km north-west of the main Copper Blow prospect and a further 3km to the west.

New targets along strike from Copper Blow project. Source: Silvery City

Targets include two strong magnetic-gravity targets occurring 1km and 1.5km northeast of Copper Blow.

Gravity and magnetic geophysical methods are used in exploration to help locate mineral resources. They are an above-ground means of sensing the density and magnetisation of subsurface materials for locating faults and other lithology.

Geophysical surveys can cover large areas of ground quickly and inexpensively and are often used to identify target areas for further investigation.

Meanwhile, a potential moving loop electromagnetic (EM) and gravity target has been located 1.2km west of Copper Blow.

EM surveys involve the use of a transmitter to produce an alternating current through a wire loop that induces a secondary field from the ground. This allows a sensor to determine subsurface electrical properties which can indicate the presence of metal deposits.

Ground EM surveys can be carried out in either a moving loop (MLEM) or fixed loop (FLEM) configuration.

Silver City will now conduct follow-up fixed loop EM survey at this target to clarify the likely source of this conductor prior to possible drill testing.

The company will continue downhole EM surveys at Copper Blow to determine the presence of off-hole conductors indicative of copper mineralisation.


This special report is brought to you by Silver City Minerals.

This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.

If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a Product Disclosure Statement (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.