Silver City Minerals to Commence Drilling at Copper Blow Next Week

THE DRILL SERGEANT: Silver City Minerals (ASX: SCI) informed the market that a drilling program is scheduled to commence next week on the company’s high-grade Copper Blow project, located approximately 20 kilometres south of Broken Hill.

Silver City Minerals said the drilling is to include both reverse circulation (RC) and diamond drilling (DD) and total approximately 2,600 metres.

“The mineralised target zone hosting multiple copper-gold lenses intersected in historical drilling and old workings extends for over one kilometre and is 80 metres to 120 metres wide,” Silver City Minerals explained in its ASX announcement.

“The mineralisation is associated with magnetite and correlates with a linear magnetic anomaly.

“This linear magnetic feature extends for a further three kilometres along strike to the north east mostly under alluvial cover and is untested.”

Following a review of historic drill data, Silver City completed rock chip sampling from surface exposures and old mine dumps, which it claims has confirmed that the copper-gold mineralisation has high levels of silver, cobalt, rare earths and molybdenum that are typical of Iron Oxide Copper Gold deposits such as Olympic Dam, Prominent Hill and Carrapateena.

A recent capital raising resulted in the company having cash reserves of approximately $1.5 million so with its share of the cost of the current drilling program expected to be around $350,000 the company have other funds available for immediate follow up programs.

The Copper Blow project is a contributing Joint Venture between Silver City (75%) and CBH Resources (25%).

CBH operates the Rasp Mine and base metal processing facility at Broken Hill.

Email: info@silvercityminerals.com.au

Website: www.silvercityminerals.com.au