Resource and Investment (ASX: RNI) has received final assays from its Forrest Gimp copper-gold discovery at the Grosvenor Project in Western Australia’s Bryah Basin.
New results include 5 metres at 1.82% copper, with 1 metre at 5.4% from 142 metres, 11 metre at 1.04% copper with 1 metre at 5.11% copper, and 8 metres at 0.85 grams per tonne gold with 1 metre at 1.69g/t and 1 metre at 2.44% copper from 82 metres.
In addition to the copper and gold results from Forrest Gimp, the broader mineralised environment is elevated in silver, bismuth, barium and mercury.
This is significant because they are considered part of a suite of indicator elements commonly associated with volcanic hosted massive sulphide deposits
The copper mineralisation at Forrest Gimp is interpreted as a steeply dipping oxide zone beneath a substantial gold-rich cap that has been defined over a strike length of 250 metres. The mineralisation largely remains open.
Forrest Gimp lies on the southern end of an identified regional copper corridor within the Narracoota Volcanic Formation that extends for around 12 kilometres.
Notably, RNI could be the first company to find copper under a gold-rich cap within this formation since Sandfire Resources (ASX: SFR) at Doolgunna in 2009.
RNI made the copper-gold discovery earlier this month, with results including 5 metres at 1.70% copper from 140 metres, including 1 metre at 8.65% from 143 metre, and 11 metres at 1.04% from 81 metres, including 1 metre at 5.11% from 88 metres.
Follow up work will involve priority drilling and downhole electromagnetic surveys to test the down-dip and down-plunge extent of mineralisation.
The broader geological environment will also be assessed, through geophysics and geological mapping to identify additional targets around Forrest Gimp and along strike towards the previously defined Big Billy copper-gold prospect.
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