Posts

Comet Resources Issued Drilling Permit for Santa Teresa Gold Project

/in , /by

THE DRILL SERGEANT: Comet Resources (ASX: CRL) has been permitted for drilling at the company’s Santa Teresa gold project, located near Baja California, Mexico.

Comet Resources received the nod to drill at the Santa Teresa project from the Environmental Impact and Risk department of the Baja California Sub-Delegation for Environmental Protection and Natural Resources.

The company explained the decision allows for commencement of diamond drilling at the project.

Comet is now finalising the details of its proposed Santa Teresa drilling program and engaging a drilling contractor to perform the works, with the aim that the program commences as soon as possible.

The proposed program consists of 2,000m of diamond drilling using experienced contractors from the neighbouring state of Sonora.

Drilling will aim to test extensions of known gold mineralisation zones along strike and at depth, as well as target areas of interest identified by review of prior drilling results, combined with information gained from a detailed structural mapping completed by consultant geologists Minera Cascabel.

This will be followed by assaying and geological interpretation of the results.

“We are very pleased to have received the permit to allow the commencement of drilling at the Santa Teresa gold project in Baja California, Mexico,” Comet Resources managing director Matthew O’Kane said in the company’s ASX announcement.

“We have been preparing for the receipt of this permit, having plans for the drill program near ready, and also having conducted the process of selecting the drilling contractor.

“This should allow us to move ahead quickly now to engage the contractors and commence the drilling program.

“We look forward to providing periodic updates from the commencement of the program to the results once they become available.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au

 

Comet Resources Confirms High Copper and Zinc Grades

/in , /by

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.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au

 

Comet Resources Releases Santa Teresa Resource

/in , /by

THE DRILL SERGEANT: Comet Resources (ASX: CRL) announced the results of an initial JORC code-compliant Mineral Resource estimate for the company’s Santa Teresa gold project in Baja California, Mexico.

The Inferred Mineral Resource estimate has come in at 369,000 tonnes at 7.47 grams per tonne gold for 88,600 ounces of gold.

Comet Resources indicated it intends using the knowledge gained from the completion of the Mineral Resource estimate to assist in planning for its upcoming drilling program at the Santa Teresa gold project.

“The initial JORC compliant Resource is the first step for Comet in moving forward with Santa Teresa,” Comet Resources managing director Matthew O’Kane said in the company’s announcement to the Australian Securities Exchange.

“Through this process we have increased our understanding of the mineralisation.

“It is also interesting to see the sensitivity of the resource to different top cap grades.

“With the Resource being open at depth and along strike, I am confident that we can extend mineralisation with the upcoming drilling.”

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au