Eastern Metals Ltd (ASX:EMS) has called time on the first of a two-phase resource expansion drilling program at the Home of Bullion (HoB) Copper Mine in the Northern Territory and dispatched drill core for processing.
The HoB mine was previously one of Australia’s highest-grade copper mines, containing an indicated and inferred mineral resource estimate of 2.5 million tonnes averaging 1.8% copper, 2.0% zinc, 36 g/t silver, 1.2% lead and 0.14 g/t gold.
This deposit comprises two distinct lodes – the Main and South Lodes – which remain open along strike and down dip.
The program
This re-designed program consisted of three holes for a total of 1,474 metres, designed to test potential extensions to the existing resource at HoB, which remains open along strike and down dip.
One of the holes (HDD049B) encountered copper mineralisation over a total continuous interval of 13.6 metres outside of the existing resource estimate wireframes.
Copper-rich massive sulphides in HDD049B at the Home of Bullion mine.
Intervals of mineralisation intersected were:
- 9.1 metres from 537.4 metres to 546.5 metres downhole with banded and disseminated chalcopyrite and galena;
- 3.9 metres from 546.5 metres to 550.4 metres downhole with strong to intense visible chalcopyrite, galena, pyrrhotite and granular sphalerite; and
- 0.7 metres from 550.4 metres to 551.1 metres downhole with banded and disseminated chalcopyrite.
The “strong to intense” mineralisation found in the hole appears to be cut off by a large quartz vein with possible faulting having truncated mineralisation continuity downhole.
Accordingly, the company will test for intense mineralisation laterally and vertically to this hole in future drilling.
Increased tonnage; defined targets
The company is hopeful that, along with increasing the resource tonnage, the results of the drilling will help it further characterise VMS and other targets that are known to the west and northwest of the HoB mine.
These targets include several identified by previous explorers which extend from the Eastern Metals-controlled mining licence EL 23186 into tenements the company recently acquired from Bowgan Minerals, including the Mulbangas copper prospect.
Two holes from the full program drilled outside of the existing resource envelope will be funded for up to $142,000 from competitive grants won under the NT Government’s Resourcing the Territory initiative.
High-grade potential
Managing director and CEO Wayne Rossiter said: “The spectacular intensive copper rich interval encountered in HDD049B demonstrates the high-grade potential of the Home of Bullion mine.
“This program was designed to step out from the existing resource envelope where the resource has not been closed off, with the aim to increase the resource tonnage at HoB.
“Additionally, our magnetic susceptibility measurements on fresh drill core are also providing increased confidence that magnetics can be used to help identify other potential copper lodes in this very exciting region.”