Mining Group commences drilling at El Roble copper project
THE DRILL SERGEANT: Mining Group (ASX: MNE) has commenced drilling at the El Roble copper project in Chile.
“The drilling program we are embarking on is the first ever diamond drill program at the El Roble project and has been designed to quickly assess some of the high-grade copper targets we have identified,” Mining Group managing director Zeffron Reeves said in the company’s announcement to the Australian Securities Exchange.
“We are really focussing on the high grade copper mineralisation currently being mined by the current owner of the concessions in a couple of small scale operations, Descubridora and Veta Gruesa.
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Overview plan of target locations and geology. Source: Company announcement
“We have mapped, sampled and surveyed these areas and prioritised the targets based on the newly acquired magnetic data which is looking as though it will be a powerful tool in identifying further areas to be drill tested.
Mining Group has an exclusive option to acquire up to 90 per cent of the El Roble copper project.
The project is located in the IOCG Coastal Cordillera Belt of Chile and is currently being mined, on a small scale, by the current owner of the project.
This mining is trucking ore at grades in excess of 6 per cent copper, which is subsequently being treated at one of two toll treatment plants located within 70 kilometres by road of the project.
“This is an exciting time for Mining Group as all the work and results to date have shown the potential for the El Roble project to host high-grade copper ore bodies.
“This is also aided by the project’s proximity to Copiapo, where many contractors are based and which will also be beneficial for any potential future mining operations.
“We’re hoping this first round of drilling will extend the known high-grade mineralisation currently being exploited and provide us with valuable information on the grade, size and geometry of the high grade ore shoots.”
Mining Group has an initial 1,000 metres of diamond drilling planned for El Roble, with the preliminary focus being on 2 targets: Descubridora and Veta Gruesa.
Both areas are currently being mined on a small scale utilising airleg mining along high-grade vein structures.
Detailed drill planning has been completed at Descubridora, where Mining Group has commenced the first of 4 holes at the prospect, with the aim to test down dip and along strike of the small, active underground mine.
Contact: zreeves@mininggroup.net.au