Core Exploration identifies 1km copper target

THE DRILL SERGEANT: Core Exploration (ASX: CXO) has claimed to have identified an undrilled, one kilometre-long copper target, which has previously returned assays up to 34 per cent copper at surface.

The target is a wholly-owned exploration licence (EL) application, situated within the company’s Albarta project, north east of Alice Springs in the Northern Territory.

 

Core’s Albarta project tenements overlain on regional geology in the Northern Territory. Source: Company announcement

 

Core explained that rock chip sampling of malachite-stained rocks on the EL by previous explorers returned values typically in the 1 to 5 per cent copper range, with one hitting up to 34 per cent copper, within a stratiform copper horizon identified over one kilometre strike at Core’s Virginia prospect.

The Virginia copper prospect occurs in a distinctive garnet gneiss band within mafic gneiss.

Core said the previous soil sampling program was carried out on five lines on 600 metre by 50 metre spacing, coincident with a zone of alteration interpreted from Landsat images.

“A strong copper in soil anomaly was returned along strike from the main Virginia outcrop in both directions,” Core Exploration said in its ASX announcement.

“Despite the exceptional results, no drilling or geophysical surveys have been undertaken on the zone.

“Core’s planned soil sampling should identify any additional outcropping zones of mineralisation.

“The company also intends to undertake detailed geophysics over known areas of mineralisation to identify potentially larger mineral bodies at depth and determine drill targets.”

Core said it anticipated being in a position to commence field exploration on Virginia and in the previously announced Copper King area once the tenement has been granted, which it expects to occur later this month.