Estrella Resources (ASX: ESR) has received initial assays from drilling at its Agustina project in Chile which confirm copper mineralisation within an induced polarisation anomaly and the potential for an iron oxide copper gold (IOCG) deposit.
A total of four diamond core holes have been drilled at the Orion prospect to test for mineralisation at two separate targets.
One hole drilled into the induced polarisation anomaly returned 18 metres at greater than 0.1% copper from 233 metres.
While the intersected copper values are relatively low, they point to the potential for a much larger system in the vicinity of the current drilling area.
All mineralised and associated alteration zones were visually observed in the drill core and confirm the presence of nearby IOCG target emplacement.
Interpretation of the results suggest that hole did not penetrate the core of the mineralised anomaly but rather intersected an "outer shell/envelope" and mineralisation grades may increase in the vicinity.
The results are very encouraging as they provide strong evidence that the induced polarisation anomaly is related to copper mineralisation within an IOCG type target.
Estrella plans to undertake further drilling of the induced polarisation anomaly.
Meanwhile, the other three holes were drilled to target mineralisation beneath the existing underground terraced mine adit at Orion.
While mineralised zones were intersected in all three holes, the results suggest that the mineralised fault zones found in the adit do not increase in width at depth.
While Estrella does not plan to undertake further exploration at this target, there are still numerous other mine adits at Orion, which are yet to be tested.
The company will assess these additional targets in the coming months.
Over at the Centauri prospect, Estrella carried out metre interval sampling which delivered gold results of up to 19.28 grams per tonne in a 6 metre interval.
An extensive soil sampling program was also undertaken to test strike length of the gold anomaly, with results pending.
Further sampling programs are planned to test for repeats of high grade gold veins beyond the limits of the underground working.
Prospective Chilean acreage
Estrella holds an option to acquire 100% of the Agustina concessions, which cover four mining leases and 21 square kilometres.
Agustina is a brownfields project highly prospective for IOCG mineralisation, and is host to several copper, gold and iron ore prospects – some exploited historically on a small scale.
The project is located in the same region of Chile that hosts the Teck Resources’ (NYSE: TCK) 484 million tonne Carmen de Andocollo mine and Hot Chili’s (ASX: HCH) 85.1 million tonne La Productora mine.
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