Renaissance Uranium (ASX: RNU) has identified a major new copper-cobalt-silver zone within the 1050 East prospect area of its Eastern Eyre project in South Australia.
First pass reverse circulation drilling intersected broad mineralised zones including:
- 44 metres at 0.61% copper, 311ppm cobalt and 24ppm silver from 172 metres to end-of-hole;
- 20 metres at 0.35% copper and 133ppm cobalt from 122 metres; and
- 10 metres at 0.32% copper and 29ppm silver from 102 metres and 16 metres at 0.30% copper and 125ppm cobalt from 116 metres.
The mineralisation is hosted in pervasive alteration zones in mid-Proterozoic metasediments with strong rare earth element and uranium geochemistry, indicating possible association with iron-oxide, copper-gold and uranium (IOCGU) style system typical of deposits located within Olympic Dam belt.
Grade and width of mineralised zones also appear to increase at depth with open strike along untested portions of Angle Dam fault structure to the north and south.
The company’s follow-up program will include diamond drilling to test for extensions to mineralised zones within 1050 East and its immediate vicinity.
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