RMG drilling generates encouraging copper hits

THE DRILL SERGEANT: RMG Limited (ASX: RMG) has received assay results from the first three diamond drill holes undertaken on the San José open pit at the company’s Tuina copper project in northern Chile.

Results include:

TD001
42 metres at 2.1 per cent copper from 17m;

TD002
83m at 1 per cent copper from 31m; and

TD003

23m at 0.5 per cent copper from 29m.

 

Cross section of holes TD001 to TD003. Source: Company announcement

 

RMG claims the drilling has demonstrated copper mineralisation is extended for over 100m below the current open pit.

The company said the drilling had also demonstrated copper mineralisation to be open down dip and along strike from prior historic drilling.

RMG indicated it would use the drill core to further its metallurgical studies for oxide and sulphide feasibility studies, which it currently has underway.

“These excellent drill results confirm RMG’s confidence in the continuation of the copper mineralisation below the current open pit and is still open to depth and along strike,” RMG said in its ASX announcement.

“The high-grade tenor of the copper results is particularly pleasing and their proximity to surface enhances the potential for early cash flow opportunities being pursued by the company at Tuina.”

RMG has drilled a total of 18 diamond holes at Tuina and is currently waiting on assays for the remaining 15 of these.

After it has received all assays and geology logs, the company plans to build a 3D interpretation and a follow-up drill program continue expansion of the mineralised areas.

Email: info@rmgltd.com.au

Website: www.rmgldt.com.au