Estrella Resources (ASX:ESR) has revealed results from initial drilling at the Antucoya West copper prospect, within the Altair project in Chile.
Antucoya West lies just 2 kilometres from Antofagasta Minerals (LON:ANTO) Antucoya copper mine development.
Significant assays from 11 shallow drill holes have identified two main zones of mineralisation in the southeast and northeast sectors.
The southeast sector consists of a cluster of 6 mineralised intercepts that range from 0.1% to 0.15% copper with associated molybdenum values to 39 ppm.
In the context of porphyry copper-molybdenum systems, this mineralisation could represent the top of a significant ore body.
Estrella considers assay results for copper above 750 ppm to be significant in terms of detecting a mineralised system.
Observations that support the existence of a porphyry copper type mineralised system at Antucoya West include proximity to fault structures, post-Jurassic instrusive rocks, fault breccia units, electrical resistivity, associated molybdenum, and its location next to Antofagasta’s Antucoya porphyry deposit.
Several high priority targets remain untested to the east and will be drilled in upcoming campaigns.
Estrella is waiting for the remaining assays from the shallow holes drilled at the Colupo and Colupo Norte prospects, 20 kilometres to the north of Antocuyo West, prior to recommencing drilling activity at Altair.
Assays are due in the next 7 days and results will be announced to the market once the information has been received, compiled and collated.
Altair encompasses 112,366 hectares and features several active exploration prospects in Antucoya West, Colupo, Dania, Ivannia and Colupo Norte.
Estrella holds the Altair Project under two option agreements with SQM (NYSE:SQM).
Estrella is presently valued at $6 million which appears to undervalue the size and prospectivity of its copper projects, especially given additional assays and further drilling upcoming in the near term.
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