Adelaide strikes impressive copper at Moonta
THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has received assay results from the first of two diamond drill holes it carried out in the first half of 2012 at the Wombat prospect, located on the company’s Moonta copper-gold project on Yorke Peninsula of South Australia.
The first drillhole, WOMDD001, returned the following intersections:
– 2 metres at 3.04 per cent copper from 198 metres (core recovery 77 per cent);
– 47m at 0.84 per cent copper from 236m (core recovery 60 per cent), including 22m at 1.14 per cent copper from 241m (core recovery 57 per cent), and 1m at 11.05 per cent copper from 295m (core recovery 35 per cent).
Adelaide said it has identified the main copper phase present to be native copper and it is now conducting screened copper assays to minimise analytical variability caused by copper nuggets.
The company said it has interpreted the main body of mineralisation intersected in WOMDD001 to be the same body intersected in adjacent historical holes MPD-05-21 (36m at 1.14 per cent copper) and MPD-06-22 (60.6m at 0.37 per cent copper).
Adelaide Resources has carried out handheld XRF scanning of the second Wombat hole, WOMDD002, which it said had also indicated the presence of copper mineralisation in a strongly weathered section of the hole.
Cut core samples from WOMDD002 have been submitted to the laboratory, with assaying now underway.
“We chose to target four prospects on the Moonta copper-gold project in our 2012 drilling program, namely Willamulka, Copper Hill East, Paskeville and Wombat,” Adelaide Resources managing director Chris Drown said in the company’s announcement to the Australian Securities Exchange.
“These Wombat results confirm that we have achieved highly encouraging drill intersections at all four of our 2012 target prospects.
“Our team now has the enviable, but challenging, task of selecting which prospects best warrant our future exploration focus and funding commitment.
“In this regard, results from the second Wombat hole, which is currently being assayed, will be of assistance in ranking the Wombat prospect against other of our Moonta project prospects.
“From a more fundament view point, these promising Wombat prospect intersections continue to demonstrate the exceptional and widespread prospectivity of the company’s Moonta copper-gold project.”
The Moonta project is situated towards the southern end of the Olympic Copper Gold Province on the Yorke Peninsula of South Australia.
Moonta-copper-gold-project location. Source: Company announcement
The Wombat prospect is located in the northwest of the project in an area that is 100 per cent owned by Adelaide Resources.
Further drilling has taken place with the completion of the first diamond hole of a recently-commenced drilling program at Paskeville.
This hole was completed at a final depth of 353m with copper sulphide mineral chalcopyrite observed to be present in veins occurring sporadically between 83.7m and 330m downhole.
Geological logging of this hole has been completed and the core is now being sawn to provide drill samples for chemical assay.
Adelaide Resources anticipates results for these samples in late December.