C29 Metals Ltd (ASX:C29) has encountered extensive zones of base metal anomalism, including broad intervals of copper, lead, zinc and gold, in its first diamond drill holes at the Reedy Creek Project in Central West NSW.
Reedy Creek Project covers around 42 square kilometres, roughly 20 kilometres west of the township of Cudal in the Eastern Lachlan Fold Belt.
The company wound up seven holes for an initial 1,060 metres of diamond drilling between December and early March to confirm significant historical high-grade zones of copper, lead, zinc, silver and gold and to test for extensions of this mineralisation.
Broad sulphide mineralisation
C29 has now received assay results for the first four drill holes, discovering broad intervals of copper, lead, zinc and gold anomalism observed from shallow depth, including:
- 31 metres at 1.12% zinc from 28.98 metres downhole in skarn-altered rocks;
- 4 metres at 1.32 g/t gold from 104 metres in volcaniclastic breccia; and
- 17 metres at 0.34% copper from 53 metres in volcaniclastic rocks.
The results include a 31-metre-wide zone of elevated zinc averaging 1.12% from 28.98 metres downhole in the first drill hole, where sphalerite mineralisation is hosted in variably skarn-altered limestone. Coincident copper, lead and silver were all noted within this zone, with several areas of gold.
Drill core from Reedy Creek showing mineralisation.
Remaining assay results for the final three holes are expected in the coming weeks.
"Valuable insight"
C29 executive director Mark Major said: “The company is delighted to have intersected significant mineralised zones. We have taken the first step in understanding this highly prospective shallow base metal and gold prospect.
“The drill program was designed to test the historical mine area and step out to test the continuation of the mineralisation. The drilling has provided valuable insight into understanding the project geology and more importantly the nature of the mineralisation zones.
“It seems there are several mineralisation events in the system which need to be better understood. The extent of the system is still unknown and considered to be open along strike and at depth.”
Continuing exploration plans
The company is waiting on assay results for a further three diamond drill holes from Reedy Creek, expected shortly.
A small number of samples, originally sampled as composites, have been re-submitted to the laboratory for individual analysis. Several samples have also been submitted for mineral petrography interpretation.
Once these results have been received it will be possible to progress the targeting at Reedy Creek and the nearby Endeavour-1 prospects.
Ongoing discussions are taking place to allow exploration drilling access with local landowners and these will be vital to further exploration plans.
Given the encouraging lead, zinc and silver results from the first hole on the margin of the Reedy Creek Mine skarn alteration complex, the company will also look to explore around the historic mine workings using drilling and geophysical means.
New greenfield copper exploration targets have also been discovered using historical soil sampling data and the company will look to drill-test these later in the year.