Silver City Minerals Ltd (ASX:SCI) has gained a new substantial shareholder with Sydney-based Dead Knick Pty Ltd now holding 5.1%.
Dead Knick became a substantial shareholder after acquiring more than 10 million shares in Silver City.
Earlier this week, Silver City identified strong copper sulphide mineralisation in follow-up drilling at the Copper Blow project near Broken Hill in far west New South Wales.
READ: Silver City Minerals identifies copper sulphide near Broken Hill
The mineralisation was intersected in numerous magnetite-sulphide veins in the first two diamond drill holes of program that started earlier this month.
Core from the first hole has been cut and sent to the laboratory for analyses while the second is being geologically logged, processed and sampled.
Assay results are expected to start coming in from the laboratory in three weeks.