www.excoresources.com.au
Exco Resources Ltd has a clear development strategy for its highly prospective project portfolio. The portfolio currently includes the White Dam Gold Project in South Australia and the Cloncurry Copper Project in NW Queensland.
Exco Resources' drilling confirms IOCG potential at Queensland prospects
Exco Resources (ASX: EXS) has confirmed a number of priority prospects from its program of exploration activities across a number of targets within its portfolio of copper -gold projects in North West Queensland.
The Hazel Creek area hosts a number of copper-gold prospects under relatively thin cover (0-50m). Only limited drilling has been completed to date, and the style of mineralisation appears similar to Iron Oxide Copper Gold (IOCG) mineralisation elsewhere in the district.
Previous drilling in the Eight Mile Creek and Turpentine South areas was guided by relatively wide spaced airborne magnetic data and intersected copper-gold mineralisation at a number of localities.
At Eight Mile Creek East mineralisation occurs as coarse grained chalcopyrite with associated magnetite. The area has no outcrop, but significant magnetic anomalies require further drilling.
Grades are similar to Exco’s E1 Camp of deposits, and the drilled widths suggest significant tonnage potential.
Drill results include:
- EHDD005 intersected 41m @ 0.72% Cu & 0.17g/t Au incl 9m @ 1.54% Cu & 0.31g/t Au.
- EHDD006 intersected 18m @ 0.77% Cu & 0.21g/t Au in pre-collar.
- EHDD007 intersected 48m @ 0.71% Cu & 0.21g/t Au.
- EHRC260 intersected 54m @ 0.51% Cu & 0.26g/t Au incl 30m @ 0.70% Cu & 0.36g/t Au
Further diamond and RC drilling follow-up is in progress and these holes will confirm continuity and geometry of the mineralisation. Results, including cross sections, will be provided once these holes have been completed and assayed.
The mineralised host sequence appears to be steeply dipping and there may be more than one mineralised body.
At the Turpentine Deposit extensions drill results include:
- EHDD003 intersected 11m @ 2.01% Cu & 0.51g/t Au incl 3m @ 5.11% Cu & 1.35g/t Au.
- EHDD001 intersected 35m @ 0.44% Cu & 0.09g/t Au incl 7m @ 1.29% Cu & 0.35g/t Au.
Further drilling will be required between these holes and the current Turpentine resource, as well as along strike, where the magnetic anomaly has not been extensively drilled.
At Turpentine South RC drilling has intersected similar style chalcopyrite mineralisation. Results are expected soon.
Drilling is scheduled to test a number of high priority targets including a strong coincident magnetic/conductivity anomaly at Quail Creek, and follow-up to previous successful drilling at the Brumby Prospect. Results are expected over the coming months.
