C29 Metals Ltd (ASX:C29) has wrapped up diamond drilling at the 42-square-kilometre Reedy Creek Project, with positive visuals returned from the tenement, 20 kilometres west of Cudal township in the Eastern Lachlan Fold Belt of Central NSW.
The company has drilled seven diamond holes for 1,059.9 metres at the project since early December with positive visual sulphides from 43 metres down hole identified along strike from the Ready Creek Mine prospect. Visual mineralisation now extends over more than 200 metres of strike.
Historical high grades
The drilling program was designed to confirm significant historical high-grade zones of copper, lead, zinc, manganese, silver and gold and to test the extensions of the mineralisation between the two historical mines in the area.
Executive director Mark Major said: “It’s been a great start for the company.
“Being able to drill this project just a month after listing and to have intersected various zones of sulphide, oxide and native minerals has been a great success.
“The presence of the 24-metre section of sulphide-bearing skarn on the initial 200-metre step-out drilling fence has shown this area of mineralisation may be significant.
“We will now wait for the assay results before embarking on the next phase of drilling.”
Watch: C29 Metals Ltd is encouraged by positive visual polymetallic mineralisation at Reedy Creek
Samples off to the lab
Samples from all seven holes have gone to ALS Laboratories in Orange, where the turnaround is 10 to 12 weeks. No assay results have yet been received from the initial holes.
Two holes were dropped from the planned program, as the mineralised structural corridor between the historic Reedy Creek Mine and Endeavour 1 mine zone is now believed to be more north of the current hole location than previously thought, and outside the area where the company has secured land access.
About Reedy Creek
The Reedy Creek Project is thought to be prospective for hydrothermal polymetallic (gold, copper, lead, zinc and silver) deposits.
The base metal mineralisation is interpreted as skarn style, while the gold is related to a latter cross-cutting epithermal vein event. The mineralisation is within a northeast-trending structural corridor ranging between 150 and 200 metres wide and extending approximately 1,000 metres between the Reedy Creek Mine and Endeavour 1 prospect.
Historical drilling results from the Reedy Creek area showed significant gold and base metal anomalism, including best results of:
- 48.1 metres at 0.66% copper from 30.3 metres, including 12.4 metres at 1.13% copper from 33.2 metres;
- 17 metres at 1.04% copper and 9.2% manganese from 4 metres including 8 metres at 1.31% copper from 9 metres, and 7 metres at 14.4% manganese from 14 metres;
- 11 metres at 1.91 g/t gold from 25 metres to end-of-hole including 6 metres at 3.1 parts per million (ppm) gold from 25 metres;
- 27 metres at 1.3% zinc from 18 metres, including 7 metres at 4.2% zinc, 1.0% lead and 37 ppm silver;
- 8 metres at 0.56% copper, 3.49% lead and 0.83% zinc from 23 metres, including 5 metres at 0.57% copper, 5.2% lead and 0.9% zinc from 26 metres; and
- 7.1 metres at 1.21 g/t gold from 71.3 metres.