Strategic Minerals PLC (LON:SML)(USOTC:SMCDY) has revealed assay results from diamond drilling at the Paltridge North and Rosmann East prospects on the Leigh Creek copper project in South Australia.
The Paltridge North assays comprise the full drill programme, support the historic results and highlight areas of higher-grade copper, including one metre grading 8.7%.
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Significant other intersections include 26.2 metres grading 1.14% copper, 28.4 metres grading 1.17%, and 24 metres grading 1.15%.
Six of the 10 holes have an intersection average of 1.34% which is significantly greater than the resource average of 0.81%
Meanwhile, the initial Rosmann East hole extends mineralisation significantly below the existing pit floor. An additional six holes have been completed with results to follow.
"The Paltridge North deposit assays, arising from the first diamond drilling programme for 32 years, have delivered better than expected results and provide the SML Board confidence that Paltridge North could be a significant copper producer in the near future,” said managing director John Peters.
"Additionally, the assays from the first hole at the Rosmann East deposit support potential additional mineralisation below the existing open pit floor. This is good news due to the ease of accessibility to this ore.”