Core Exploration (ASX: CXO) has identified a number of high priority iron ore-copper-gold (IOCG) drill targets from geophysical modelling and review of new and previous surveys at its Roxby project in South Australia.
Roxby covers an area of 400 square kilometres and is located just 10 kilometres from BHP Billiton’s (ASX: BHP) Wirrda Well IOCG Project and 40 kilometres from the Olympic Dam copper, gold and uranium mine.
The company is now considering plans for detailed gravity, magnetics and resistivity/IP geophysical surveys over these drill targets prior to drill testing.
It is also in discussions with a number of Australian and International parties who have expressed interest in this area.
The review of the new and past geophysical surveys and historic drilling confirmed that IOCG mineralisation has been intersected in basement at a number of prospects in the region and there appears to be a good relationship between the mineralisation in these holes and the observed analytic signal filtered magnetic highs.
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