Pegasus Metals records new copper-zinc hits at Mt Mulchay

THE DRILL SERGEANT: Pegasus Metals (ASX: PUN) has intersected more high-grade mineralisation at the company’s Mt Mulcahy copper-zinc-silver-gold VMS discovery, in Western Australia.

Pegasus said it will use the latest results in calculating a maiden resource estimate, as well as determining whether the South Limb Pod hosts copper and zinc VMS-style mineralisation less than 200 metres from surface.

Intercepts received from the latest drilling include:

–    5 metres at 4.38 per cent copper, 2.91 per cent zinc, 38.9 grams per tonne silver and 0.53 grams per tonne gold, including 3 metres at 5.78 per cent copper, 3.84 per cent zinc, 49.6g/t silver and 0.54g/t gold;

–     4.44m at 2.51 per cent copper, 4.98 per cent zinc, 29.4g/t silver and 0.26g/t gold, including 3.44m at 3.04 per cent copper, 6.40 per cent zinc, 36.6g/t silver and 0.33g/t gold;

–     6.64m at 1.86 per cent copper, 1.44 per cent zinc, 15.2g/t silver and 0.07g/t gold, including 2.19m at 3.4 per cent copper, 3.02 per cent zinc, 27.2g/t silver and 0.10g/t gold); and

–    2m at 3.24 per cent copper, 1.06 per cent zinc, 25g/t silver and 0.10g/t gold.

 

Mt Mulcahy – South Limb pod. Source: Company announcement

 

“These results further confirm that South Limb Pod is an outstanding discovery characterised by extremely high-grade mineralisation with excellent ongoing exploration potential and the prospect of being very economical to mine,” Pegasus Metals managing director Michael Fotios said in the company’s announcement to the Australian Securities Exchange.