M3 Mining (ASX:M3M) has obtained positive results from the Victoria Bore Project located 120km south of Onslow, Western Australia, where it is exploring for large sedimentary-hosted copper deposits in sedimentary basins of Proterozoic age.
All 14 recently discovered historic workings found at Victoria Bore have confirmed to contain copper mineralisation with grab samples returning as high as 36.9% Cu. All the workings are situated over a strike length of 600m with no history of modern exploration. M3 has now defined a 1.3km long copper-in-soil anomaly surrounding the workings via pXRF.
“M3 Mining is excited to announce that rock chip samples from the recently discovered historic workings have confirmed the presence of copper mineralisation, with three samples exceeding 20% Cu and eight exceeding 5% Cu," Executive Director, Simon Eley, said. "The occurrences are located 3km southeast of the historic Victoria Copper Mine.”
Mr Eley said the confirmation of copper mineralisation at the historic workings was highly significant and bolstered the possibility of a future economic discovery at Victoria Bore.
“Company and consultant geologists are currently focusing on methods to determine the scale and nature of the copper mineralisation across the 600m extent and how this fits in relation to the wider 7km regional geological trend,” he said.
“As the importance of copper continues to grow, M3 Mining is well-positioned to capitalise on this vital commodity, supported by its recent successes and extensive land holdings in the district."
The company is now planning follow up exploration activities to further define the mineralised copper trend. Initial works will be focussed on detailed geological mapping of the mineralised occurrences to provide a precise exploration framework under a mineral systems approach. Subsequently, remote sensing techniques (such as EM surveys) will be employed to provide the company with robust drill targets.
