Mining Group encounters high-grade copper at El Roble

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THE DRILL SERGEANT: Mining Group (ASX: MNE) has received results from recent grade control sampling conducted at the Descubridora mine at the El Roble copper project in Chile.

Ongoing underground face sampling from Descubridora has returned the highest copper results from the project to date, including:

RCPCH00348

3.6 metres at 14.35 per cent copper, 1.36 grams per tonne gold, 4.47 grams per tonne silver, 706ppm cobalt, 146ppm molybdenum and 20.99 per cent iron, including 0.9m at 30.50 per cent copper, 1.73g/t gold, 7g/t silver, 140ppm cobalt, 170ppm molybdenum and 18.55 per cent iron.

Grab samples taken from freshly blasted faces returned results grading up to 34.4 per cent copper.

 

Descubridora underground adit (underground workings) plan with
simplified geology and location of recent high-grade channel samples.
Source: Company announcement

 

Mining Group said the results confirm the high-grade nature and continuity of mineralised veins at El Roble.

Mining Group has an exclusive option to acquire up to 90 per cent of the El Roble copper project, which is located in the IOCG Coastal Cordillera Belt of Chile.

The project covers approximately 6,000 hectares and is currently being actively mined on a small scale by the current owner, including mining from the Descubridora Mine.

As part of the company’s ongoing assessment of the project, it has been carrying out regular grade control face sampling on adit development faces within the Descubridora Mine.

“These grades are phenomenal and the project continues to pleasantly surprise us with not only the tenor of copper mineralisation but also with its continuity and extent,” Mining Group managing director Zeff Reeves said in the company’s announcement to the Australian Securities Exchange.

“The Descubridora vein is currently exploited by the owner of the project on a very small scale but it appears that as the workings are pushed deeper, the vein is widening and the grade is increasing, as evidenced by these incredible grades we have just sampled.

“This sampling and the fact that the vein is widening provides us with confidence that the entire vein system has huge potential to host many more high-grade zones, along the 30 kilometre plus of cumulative strike we have mapped so far, and further confirms our strategy of funding long term growth with small scale production.”

Email: admin@mininggroup.net.au

Website: www.mininggroup.net.au