Comet Resources Confirms High Copper and Zinc Grades

THE DRILL SERGEANT: Comet Resources (ASX: CRL) reported assay results from mineralised samples taken during a November 2020 field program at the company’s Barraba copper project located in the New England area of New South Wales.

Comet has now received complete assay results from samples taken from the historical high-grade Murchison copper mine site and the Gulf Creek North prospects.

Copper assay results from the historic Murchison Mine site returned levels up to 4.6 per cent, zinc up to 4 per cent and cobalt up to 0.7 per cent from mine dump samples.

Subsequent soil geochemical sampling and analysis confirmed surface copper mineralisation around the Murchison Mine, open to the West and East.

Historical data indicates the Murchison mine is a VMS-style deposit, the type that often occur in clusters due to the nature of the hydrothermal processes that form them.

This is the case at the Barraba copper project with three historic VMS deposits identified within the project area.

“These assay results, with high copper, zinc and cobalt, have confirmed that the historic Murchison copper mine at the Barraba copper project is another area of high priority exploration interest to us,” Comet Resources managing director Matthew O’Kane said in the company’s ASX announcement.

“In addition to the known historical high-grade mineralisation at the Gulf Creek Mine, these results now provide us with multiple exploration targets at the project.

“We look forward to advancing physical exploration works on both prospects.”

The Murchison copper mine produced ore in the early 1900s with historical records indicating underground workings to 16m, as well as a number of shallow pits.

Historical production records state copper was produced at an average grade of 3 per cent, with historical assays up to 5.1 per cent.