Core Exploration (ASX:CXO) has hit drilling nirvana with the highest grades ever encountered at well named Blueys prospect in the Nothern Territory.
While only rock chips at this stage have been gathered at surface, when you find widespread silver grading 4.1 kilograms per tonne(4,065 g/t), with 5.5% copper and 25% lead, ears will pin back.
When you have a market capitalisation of less than $2.5 million, it is all upside.
The Blueys and Inkheart Prospects are within Core’s Albarta Project that covers over 2,000km2 of the newly recognised, highly prospective IOCG Aileron Province, 100km north east of Alice Springs in the Northern Territory.
Core believes that these high silver in soil and rock chip results are an indicator of significant mineralisation at depth.
They may have something there given early stage exploration in areas such as Investigator Resources Ltd’s (ASX:IVR) flagship Paris Project in S.A., where continued high grade silver is intersected at depth.
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