C29 Metals kicks off geochemical survey at Samson Tank in Lachlan Fold Belt
Thanks to the survey, C29 is one step closer to realising the potential of an emerging, high-grade copper district — one that hosts a suite of famous neighbours.
Company
ASX:C29
C29 Metals Ltd (ASX:C29) is focused on copper assets situated within Tier 1 mining regions with significant discoveries. The company's portfolio includes the Sampson Tank Project and the Reedy Creek Project in New South Wales, the Torrens Projects in South Australia and the Stadlers Project in Western Australia.
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Thanks to the survey, C29 is one step closer to realising the potential of an emerging, high-grade copper district — one that hosts a suite of famous neighbours.
The company has planned up to nine diamond holes for around 1,300 metres to confirm historical high-grade zones of copper, lead, zinc, manganese, silver and gold.
“The historical findings are very encouraging as we start planning our exploration programs for the 2022 period once the tenements are fully granted,” says executive director Mark Major.
A diamond drilling program is expected to commence in the first week of December with a drill contractor secured and regulatory approvals expected this week.
The company, which raised $5 million through the issue of 25 million shares at an issue price of $0.20 per share, was admitted to the Official List of ASX on November 1, 2021.
The company is changing the ownership of the project in the prolific Eastern Lachlan Fold Belt and has applied for regulatory approvals to undertake drilling around the historic mine area.