Syndicated Metals hits strong copper over 2.5km strike
THE DRILL SERGEANT: Syndicated Metals (ASX:SMD) has intersected several zones of high-grade copper, within broader widths of disseminated copper-gold sulphide mineralisation, over a 2.5 kilometre strike length with its maiden drilling program at the company’s Yamamilla copper-gold project in North Queensland.
The Yamamilla project is located within the northern part of Syndicated’s Mount Isa project, and is situated on an exploration permit that forms part of the Mt Isa other metals Joint Venture with Deep Yellow (ASX:DYL).
VTEM anomalism over the Yamamilla-Portal Creek-Prospector 3 Trend. Source: Company announcement
Syndicated is earning 80 per cent ownership of the Joint Venture and minerals other than uranium by spending $800,000 over three years.
Syndicated has so far completed five Reverse Circulation (RC) drill holes at the Yamamilla project, four of which have intersected mineralisation.
The fifth hole failed to reach target due to difficult drilling conditions.
Three of the four holes intersected significant high-grade copper mineralisation within broader zones of disseminated copper-gold mineralisation.
Gold assays are awaited for all of the holes.
Yamamilla prospect results include:
– 7 metres at 2.37 per cent copper, including 4 metres at 3.94 per cent copper from 48 metres; and
– 13m at 0.26 per cent copper from 193m.
Syndicated explained the mineralised intersections to consist of stringer copper sulphides (chalcopyrite) with lesser amounts of disseminated copper sulphides.
It highlighted this point to be of some significance saying it appeared a direct relationship exists between the high-grade mineralised intervals and the soil geochemistry and VTEM plates.
Syndicated has also drilled four holes at the Floodbird prospect, which returned intersections demonstrating an identified VTEM anomaly is caused by copper-gold sulphide mineralisation at the contact of the Argylla-Corella formation.
Results from drilling at the Floodbird prospect include:
– 11m at 1.17 per cent copper, including 2m at 2.54 per cent copper from 193 metres; and
– 7m at 0.81 per cent copper, including 2m at 1.5 per cent copper from 39m.
The company said it considered the results of this maiden drilling at the Yamamilla and Floodbird prospects to be very encouraging and that they enhance the potential of the area to host a significant high-grade copper deposit.
“These are terrific results from our initial drilling at Yamamilla, indicating the presence of a potentially significant mineralised system extending over a strike length of at least 2.5 kilometres,” Syndicated Metals managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.
“This has confirmed that Yamamilla represents a priority project within our North Queensland portfolio for follow-up exploration.”
