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The Markets
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Mining

Silver City Minerals intersects broad copper sulphide mineralisation at Copper Blow

Mineralisation has been extended at least 250 metres along strike and is continuous to depths of at least 270 metres.

Silver City Minerals Ltd (ASX:SCI) has intersected broad widths of copper sulphide mineralisation at the Copper Blow Copper-Gold-Cobalt Project 20 kilometres south of Broken Hill.

Four new diamond drill holes have extended copper mineralisation at least 250 metres along strike and this is continuous to depths of at least 270 metres.

Drilling is ongoing at the North Zone, which remains open at depth and along strike.

Shares are up 17.5% in late trading to 4.7 cents.

READ: Silver City Minerals steps up drilling with second rig at Copper Blow near Broken Hill

The focus of Silver City’s recent drilling has been the North Zone, represented by a magnetic anomaly which is 450 metres long and up to 80 metres wide.

This is just one of seven strong magnetic anomalies along the shear zone of at least 4.5-kilometres which provide significant potential for further copper-gold mineralisation.

A detailed ground magnetic survey reduced to pole image of Copper Blow.

The mineralisation is hosted in intense magnetite, quartz and biotite-rich alteration.

Four diamond holes completed

Four diamond drill holes have been completed at North Zone and another two are underway.

One of the completed holes returned a 65-metre copper-bearing intersection from 178 metres.

The others returned a 30-metre intersection from 270 metres, a 26-metre intersection from 139 metres and a 21-metre intersection from 123 metres.

Reverse circulation drilling has also been completed in three holes immediately southwest and northeast of the zone.

READ: Silver City Minerals identifies potential new copper-gold-cobalt targets at Copper Blow

Other targets to the northeast and southwest of North Zone have been or will be tested as part of this program.

The rock in this zone produces a distinctive induced polarisation geophysical anomaly attributed to the presence of abundant copper and iron sulphide within a magnetite body.

An example of sulphide-rich magnetite rock from a hole at the North Zone.

Drilling suggests it is particularly enriched in copper sulphide.

To date, the company has completed 11 holes.

Significant intersection

In January 2018, Silver City drilled a hole to test the North Zone at depth.

It returned 42.2 metres at 1.3% copper and 0.4 g/t gold in a magnetite-rich rock at a vertical depth of 200 metres.

This is considered to be a significant copper-gold intersection.

Five diamond drill holes have intersected appreciable copper sulphide mineralisation ranging in estimated true thickness from 15 to 35 metres.

Silver City is awaiting analytical results for all holes in the current program.

Copper Blow is a joint venture between Silver City Minerals (75%) and CBH Resources Ltd (25%) whereby each company contributes to exploration expenditure on a pro-rata basis.

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