Phoenix Copper (ASX:PNX) has commenced its Northern Territory field season with electromagnetic surveys to identify massive sulphide mineralisation at its Hayes Creek Project in the Pine Creek region.
The Fixed Loop Electromagnetic and Down Hole Electromagnetic surveys target the Iron Blow and Mount Bonnie deposits are expected to take up to two weeks to complete.
In addition, two VTEM anomalies at Clyde and Joplin will be surveyed in order to refine the targeting for any sulphide mineralisation and ‘see deeper’ than the previous VTEM survey.
All targets lie within close proximity to one another in the area comprising the Hayes Creek Project.
Drilling at Mount Bonnie is expected to commence immediately after the completion of the EM survey with the aim of extending the mineralisation identified historically.
Regional exploration campaigns will recommence in May with the primary aim of discovering new base metal massive sulphide and gold deposits.
In January, the company intersected a thick zone of massive sulphide mineralisation with the first hole at the Iron Blow deposit.
This returned 50.39 metres at 10.12% zinc, 2.66 grams per tonne gold, 132.9g/t silver, 0.57% copper and 1.39% lead from 155.72 metres including 19.45 metres at 15.48% zinc, 2.65g/t gold, 158.2 g/t silver, 0.56% copper and 2.56% lead from 156.5 metres.
Clyde is a new and untested target area located about 500 metres to the south of the Mount Bonnie deposit.
A strong airborne EM and magnetic response occurs along the interpreted trend of the mineralised horizon in a favourable structural setting.
There is also an outcropping gossan directly to the south of Mount Bonnie suggesting that mineralisation may continue to the south.
No drilling has been recorded at Clyde.
Joplin is a high priority VTEM anomaly which lies approximately 2 kilometres southeast of Iron Blow.
It exhibits a similar strike length as at Iron Blow with an associated quartz veined gossan.
EM will be used to determine the depth and orientation of buried conductive rocks which are indicative of massive sulphide mineralisation, prior to drill testing the most conductive portion of the anomaly.
Phoenix Copper is earning up to 90% in Joplin from Crocodile Gold (TSX:CRK).
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