C29 Metals Ltd (ASX:C29) has completed a detailed review of historical exploration reports at the Reedy Creek Project in the Eastern Lachlan Fold Belt of Central West NSW that reveal high-grade copper, lead, zinc, manganese, silver and gold results.
The review has provided strong encouragement and the company has submitted applications for regulatory approvals with plans to drill the prospect before the end of this year.
Polymetallic potential
It has revealed the potential for sulphide-rich polymetallic skarn, breccia hosted gold-base metal and epithermal gold deposits in a number of structural and lithological settings at the historic Reedy Creek Mine and the Endeavour 1, Mossvale and Kala prospects.
C29’s executive director Mark Major said: “The identification of the strong polymetallic loads within the historic drilling at the old Reedy Creek mine is fantastic.
"The exciting part is that only a small proportion of the area was drilled.
"Many of the holes are very shallow, showing substantial mineralisation within the lower part of the hole. Those that were drilled deeper had significant results.
"Shareholders should be encouraged by the drilling and the potential of this area.”
Strong historic results
The previous drilling was carried out by Freeport Australia and Vulcan Mines around the old Reedy Creek mine.
Best intersections included:
- 12.4 metres at 1.13% copper from 33.2 metres, within 48.1 metres at 0.66% copper from 30.3 metres;
- 17 metres at 1.04% copper, including 8 metres at 1.31% copper from 9 metres;
- 27 metres at 1.3% zinc from 18 metres, including 7 metres at 4.2% zinc, 1.0% lead and 37 ppm silver;
- 11 metres at 1.91 g/t gold from 25 metres to EOH, including 6 metres at 3.1 g/t gold; and
- 7 metres at 14.4% manganese from 14 metres to EOH within 17 metres at 9.2% manganese from 4 metres.
The historical drilling over the Reedy Creek mine prospect consisted of shallow RAB drilling and four deeper diamond drill holes.
These holes were drilled beneath transported cover and identified anomalous gold and base metal mineralisation in the vicinity of the Reedy Creek Mine.
The base metal and gold intercepts remain open to the west and east along strike.
In prolific region
Reedy Creek Project comprises a granted exploration licence (EL8541) and covers an area of around 42 square kilometres, 20 kilometres west of the township of Cudal in the Eastern Lachlan Fold Belt (ELFB).
The ELFB is a significant mineral province in Eastern Australia host to a number of world-class copper-gold systems including the giant Cadia copper-gold porphyry district and the Northparkes copper-gold porphyry district.
It is also host to a number of notable skarn associated base metal and gold systems, including Big Cadia, Little Cadia and Brown’s Creek.
The project is close to major regional centres, only 60 kilometres west of Orange and 57 kilometres southeast of Parkes.
Next steps
C29 is in the process of changing the ownership of the project and has applied for regulatory approvals to undertake drilling around the Reedy Creek Mine area.
A drilling contractor will be assigned within the week with commencement of drilling expected early to mid-December.