Alta Zinc Ltd (ASX:AZI) has expanded its exploration pipeline into two of the most commercially significant copper mining districts in Italy with the lodgement of applications for two exploration licences (ELs).
The company has applied for the Monte Bianco EL (8,200 hectares) in the Liguria region of the Northern Apennines and the Corchia EL (3,500 hectares) in the Emilia Romagna region.
Mineralisation at both projects is hosted in copper-rich VMS systems mined up to the early 1970s with historical production grades of 7% copper at the Libiola mine and 3-5% copper at the Corchia mine.
The Monte Bianco EL also contains the old Gambetesa mine which was, at the time, the largest manganese mine in Europe and operated from 1939 to 1971, with mined grades of 28-30% manganese to produce around 50,000 tonnes of manganese metal per annum.
In addition, the ELs are close to existing infrastructure (roads, centres of population, water and power) and within easy logistical reach of the hub port of Genoa.
“Building complementary metals portfolio”
It is expected that the Monte Bianco and Corchia licences will become important projects in Alta’s pipeline of Italian opportunities, with the Volcanogenic Massive Sulphide (VMS) systems consisting largely of chalcopyrite with associated oxidised copper species, sphalerite, cobalt and gold – a suite of metals aligned to the company’s strategy of becoming an Italian focused base and battery metals explorer and producer.
Alta Zinc managing director Geraint Harris said: “Since drilling started at Pian Bracca our Italian team have been very focused on exploration at Gorno which has delivered excellent results.
“Over the last 12 months, we have also considered ways in which to leverage our position in Italy to build an accretive and complementary metals portfolio.
“We are very excited by our application for these two new base metals projects that offer strong growth potential and to take advantage of the growing EV metal deficit in Europe.
“These projects are very complementary, however, do not take our focus from Gorno and will add significant value for our shareholders.”
The EL application areas and the location of the old mines.
Next steps
In advance of the granting of the ELs, Alta will now undertake desktop reviews of the extensive historical records which will provide the basis for an initial low-cost surface sampling, geophysics and remote hyperspectral sensing exploration program.
None of the mines or the ELs have been subjected to modern exploration prior to closure, and the company intends to initially target near-mine extensions before extending to step-out prospects.
Harris said: “Both ELs have excellent potential to extend the known deposits laterally and at depth, and our plan is to commence an initial low-impact and efficient program of geophysics and surface sampling once granted.”