Fe Limited’s (ASX:FEL) partner Auris Minerals (ASX:AUR) has intersected further zones of copper from the second phase of drilling at the Wodger prospect within the Forrest Project in Western Australia.
Fe holds a 20% interest and is free carried until a decision to mine at the Forrest Project along with Auris (80%).
The company’s shares were last trading 25% higher intra-day, at $0.025.
Wade Evans, chief executive officer of Auris, commented: “The presence of bornite, chalcocite and native copper within quartz-carbonate breccia zones provides significant encouragement for the potential presence of significant economic mineralisation at Wodger.
“We look forward to the results of the DHEM currently underway and undertaking the next phase of exploration”.
Multiple copper hits
Auris’ reverse circulation (RC) drilling included 5 holes for 1,251 metres which aided in understanding the geometry of the mineralised system, followed by a single diamond hole.
The RC drilling highlights Include:
- 78 metres at 0.35% copper including 15 metres at 1.17% copper and 0.11 g/t gold from 138 metres;
- 6 metres at 1.14% copper from 235 metres;
- 28 metres at 0.75% copper from 155 metres; and
- 66 metres at 0.59% copper from 290 metres including 5 metres at 2.38% copper from 346 metres.
Significant quartz-carbonate zone identified
A single diamond hole was designed to develop a further understanding of the structural and geological controls on mineralisation and form a solid platform for a follow-up DHEM (drill-hole electromagnetic) survey.
Bornite, chalcocite and native copper mineralisation was intersected, hosted within a substantive quartz-carbonate breccia unit that has continuity, thus far to a 400 metre vertical.
This unit is mineralised from surface to its currently intersected depth, plunges north and remains open.
The full assay results from this diamond hole will be available within the coming weeks.
Next steps
DHEM surveys are currently underway to assess whether the breccia develops into a more copper-rich unit at depth or whether massive sulphides can be identified above or below the mineralised breccia.
Following the completion of a structural and geological interpretation of the drilling completed to date, a surface IP survey to delineate the dimensions of the plunging mineralised body will be investigated.
Further drilling is required to test the tenure of mineralisation below the drill holes as well as to the north, focussing on the closure of the potential fold hinge (primary structural target).