Syndicated Metals confirms expansion of Barbara open pit

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THE DRILL SERGEANT: Syndicated Metals (ASX: SMD) has been encouraged by results it has received from in-fill and extensional drilling completed at the company’s Barbara copper-gold project in northern Queensland.

The company said the latest results confirmed the strength of the mineralisation within the Southern Shoot as well as highlighting the potential of the emerging Fault Gap area in the central part of the proposed Barbara open pit.

Syndicated has taken receipt of all outstanding assay results from a 45-hole in-fill and extensional RC drilling program completed prior to Christmas with best results including:

27 metres at 1.73 per cent copper, including 11 metres at 2.88 per cent copper in BARC112 (Southern Shoot);

14m at 2.17 per cent copper in BARC107 (Southern Shoot);

16m at 0.69 per cent copper, including 3m at 2.02 per cent copper in BARC118 (Fault Gap); and

6m at 2.52 per cent copper in BARC113 (Fault Gap).

The company indicated new deep intersections in the Fault Gap area support previous results including 14m at 1.72 per cent copper and 20m at 1.48 per cent copper.

Syndicated consider the latest results to confirm this area is continuously mineralised at depth.

Before the Christmas break Syndicated announced agreement with its joint venture partner CopperChem Limited to resume drilling at Barbara in late January.
 
The Barbara JV is a 50/50 joint venture with CopperChem, which is funding the Feasibility Study for the development of Barbara as part of its earn-in requirements.

“Last year’s drilling was extremely successful and highlighted the significant upside potential of the Barbara project,” Syndicated Metals managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“Of particular note are the thick intersections encountered outside the current open pit boundaries at depth within the Fault Gap area – which could underpin a significant expansion of the open pit.

“Other positives from last year’s drilling include confirmation of the shallow nature of the oxidized boundary particularly above the Southern Shoot and confirmation of high-grade mineralisation below the Northern Shoot – all of which illustrate the outstanding potential of this project.

“We are now able to progress with the remaining drilling and technical work for the project commencing this month, subject to continued access and weather conditions, with upcoming work programs covering water production, geotechnical and metallurgical drilling as well as follow-up work to further evaluate the Fault Gap area and the potential northern extension of Barbara.

“The New Year will also see our maiden exploration programs begin at significant depth below Barbara which will guide our thinking around the ultimate potential for underground mining of the deposit below the Barbara open pit mine.

“This should ensure a continued strong flow of news and results for Syndicated during the traditionally quieter wet season period – which is great news for our shareholders as we continue to build momentum in our quest to join the ranks of Australian copper producers over the coming year.”

Email: info@syndicatedmetals.com.au

Website: www.syndicatedmetals.com.au