Chase Mining Corporation Ltd (ASX:CML) is encouraged by the definition of a strong anomaly by investee Red Fox Resources (ASX:FXR) Pty Limited at Camel Bore prospect within the Selwyn Project in northwest Queensland.
The anomaly was defined following a 617-station gravity program in Camel Bore area of the Mt Carol EPM 26571 between past exploration targets.
Anomalous base metals
There are a series of targets with highly anomalous copper, lead, zinc and cobalt in soils, rocks and gossans at the Mt Ulo/Perisher prospects also on EPM 26571.
The host sequence of black shales extends south-southwest from the Mt Carol area for about 40 kilometres and presents Red Fox, in which Chase Mining holds 40%, with exploration opportunities.
At Camel Bore, Red Fox proposes to build a 3D model of the response prior to field checking of the anomaly and this is likely to include additional geochemistry.
Additional permits
Red Fox has also applied for an additional three Exploration Permits adjoining Mt Carol EPM 26571 in the Selwyn district, increasing its holdings in the area to 331.5 square kilometres from 108 square kilometres.
EPM 26571 and these new application areas are 120 kilometres south of Cloncurry in a highly prospective zone stretching from an area 10 kilometres southeast of the Selwyn, Mt Dore/Merlin and Mt Elliott deposits, to an area 8 kilometres north of the operating Osbourne copper-gold mine.
Previous exploration in the Camel Bore area primarily targeted magnetic effects, either looking for magnetite related IOCG targets or magnetite related Cannington style silver-lead-zinc deposits.
Several historical holes were drilled on each of the identified prospects, returning minor copper and zinc.
Gravity program
In November 2021, Red Fox carried out a gravity program in the Camel Bore area based on a 400-metre line spacing with readings at 200-metre spacings.
Infill on 200-metre lines at 200-metre spacings was carried out over key parts of the anomalous zone. A total of 617 stations were read by Daishsat Geodetic Surveys.