DevEx Resources Limited (ASX: DEV) has received further encouraging assay results from its air-core (AC) drilling campaign at the Nangus Road Prospect, within its 100%-owned Junee Copper-Gold Project in NSW.
Reconnaissance AC intercepts continue to define the presence of a coherent north-south oriented gold zone which extends for over 1 kilometre, including 1m @ 4.9g/t Au from 42m (22JNAC081), 5m @ 1.3g/t Au from 6m (22JNAC062) and 3m @ 1.3g/t Au from 4m (22JNAC013).
This follows on from previous intercepts along strike including: 4m @ 2.5g/t Au from 28m, including 1m @ 6.3g/t Au at the bottom-of-hole (22JNAC041).
The shallow gold zone lies within a broad 200-metre-wide zone of strongly altered (phyllic to localised advanced argillic alteration) and sheared andesite volcanic rocks which in turn are flanked by propylitic altered monzonite intrusions to the east and west. Preliminary alteration analyses of the deeper drilling indicates alteration characteristics typical of rocks positioned above a porphyry copper-gold system.
AC drilling has also defined anomalous Cu mineralisation (500 to 2100ppm Cu maximum) associated with the gold. Of most interest is the broadening (> 400 metres wide) of the anomalous Cu mineralisation on the southernmost AC traverse near to the northern contact of the Nangus Road monzonite intrusion.
A significant gap in drill coverage to the south requires further drilling to test this broad copper zone. The close association of copper (peak value of 0.2% Cu in individual metre samples – see Table 2) and other pathfinder elements with gold mineralisation continues to support the potential of a porphyry copper-gold system at Junee.
Having received the remaining assay results from the reconnaissance air-core programme at Nangus Road, we are now planning a step-out drill campaign to the north, south and below the recently reported intercepts,” Managing Director, Brendan Bradley, said.
“Also, given that deeper RC and diamond drilling to date has only tested Nangus Road on two eastwest traverses 400m apart, the wider potential for a large-scale porphyry copper-gold system remains poorly tested, especially to the south and at depth. The next programme will therefore be designed to better understand this potential.”
The Junee Project lies on the southern extension of the Macquarie Arc of NSW – Australia’s largest porphyry copper-gold terrane. Age dating and chemistry from the area undertaken by the Geological Survey of New South Wales (GSNSW) identified monzonitic intrusions, with similar chemistry and the same age as the Cu-Au mineralised intrusions at the major Cadia-Ridgeway and Northparkes mining operations to the north.
At Nangus Road, early drilling in 2020 defined a monzonite immediately south of the current drill programme. Geochemistry of the monzonite indicated it is a porphyry-fertile, high-potassium intrusion similar to other large porphyry Cu-Au deposits in the region, such as those seen at Cadia-Ridgway and Northparkes.
The extensive gold-copper anomalism on the northern margin of the Nangus Road monzonite and the extensive alteration zone seen in the current drill programme are pointing to an exciting and rapidly developing exploration opportunity.