Silver City Minerals Ltd (ASX:SCI) has used survey results to identify a new large copper-gold target in the southeast of its Copper Blow copper, gold and cobalt project near Broken Hill.
The company has recently completed induced polarisation (IP) and soil geochemical surveys with the intention of determining drill targets.
These indicate that sulphide mineralisation occurs in a magnetic ironstone horizon, where drilling has been focused, as well as in non-magnetic rocks east and southeast of Copper Blow.
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Results indicate a much larger target and potentially much more copper, gold and cobalt, than that solely hosted in the magnetic ironstone complex.
IP and geochemical anomalies hosted in non-magnetic rocks extend in a sinuous fashion for more than 1 kilometre in strike.
The strongest IP anomaly is over 600 metres long and 200 metres wide and is coincident with consistent barium, molybdenum and potassium anomalies in soils.
Geophysical modelling suggests that the top of this anomaly lies 80 metres below surface.
A plan of a slice through the 3D IP model at 180 metres below surface.
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The strongest and largest anomaly is also coincident with a positive gravity anomaly outlined in an historical airborne gravity survey.
Silver City previously suggested mineralisation might be related to intrusive igneous rock known as gabbro or that non-magnetic IP anomalies may be responding to sulphide hosted in hematite, a common ore type in iron oxide copper-gold (IOCG) deposits.
As a result of the surveys, Silver City believes that the coincidence of an IP, soil and positive gravity anomaly lends credence to the model of intrusion or hematite-related mineralisation perhaps associated with breccias.
The non-magnetic targets may represent much larger zones of copper-gold mineralisation.
Drill planning underway
There has been no drilling in these non-magnetic IP targets and the company has started drill planning and environmental permitting with drilling likely to start in August or September.
In the meantime, Silver City plans to continue with a deeper test of the North Zone within the magnetic ironstone.
Copper Blow is close to the mining and infrastructure facilities at Broken Hill including two sulphide treatment plants.
The project is a contributing joint venture between Silver City (75%) and CBH Resources (25%), which owns and operates the Rasp Mine and sulphide treatment plant in Broken Hill.