C29 Metals Ltd (ASX:C29) diamond drilling at its Reedy Creek Prospect in Central West New South Wales is imminent, with a drill rig secured and regulatory approvals expected this week.
Drilling is expected to begin in the first week of December with a drill contractor secured and regulatory approvals expected this week.
Reedy Creek has significant shallow high-grade polymetallic results from historical drilling.
Grow footprint
C29 executive director Mark Major said: “We are very fortunate to have secured a drill rig to undertake this work and are looking forward to commencing drilling as soon as possible.
“This program will allow us to potentially validate and grow the footprint of the polymetallic and gold mineralisation.”
Drill plans
The company is planning an up to 9-hole (1,300 metres) diamond drill program to confirm the significant historically high-grade zones of copper, lead, zinc, manganese, silver and gold and to test the extensions of the mineralisation between the Reedy Creek Mine and Endeavour 1 prospects.
Timing of the drilling is conditional upon obtaining the regulatory approvals.
Based on information provided by its consultants, the company believes the approvals should be forthcoming any day.
About Reedy Creek Project
Reedy Creek Project comprises a granted exploration licence (EL8541) and covers 42 square kilometres, 20 kilometres west of the township of Cudal in the Eastern Lachlan Fold Belt of Central West NSW.
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 North Parkes 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 being 60 kilometres west of Orange and 57 kilometres southeast of Parkes.
Reedy Creek is considered prospective for hydrothermal polymetallic (gold-copper-lead-zinc-silver) deposits associated with the Middle Devonian Dulladerry Volcanics, within the Lachlan Transverse Zone (LTZ), Lachlan Fold Belt, NSW.
Strong potential remains within the corridor to define a shallow precious and/or base metal-rich ore deposit.
Best historical intercepts include:
- 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.