Minerals 260 Limited (ASX:MI6) has commenced a new phase of drilling at its Moora and Koojan JV Projects in Western Australia.
The programme will comprise up to 8,500m of Reverse Circulation (RC) and Diamond Core (DD) drilling, with holes up to 500m deep planned to test deeper geophysical anomalies at priority prospects, Mynt and Mallory.
Drilling locations have been informed by the ongoing Dipole-Dipole Induced Polarisation (DDIP) survey that has defined a new large, chargeability high anomaly proximal to confirmed sulphide mineralisation at the Mynt copper-gold prospect, where 24m @ 1.9% Cu and 0.7g/t Au has previously been intersected.
This is in addition to the Mallory target on the Koojan JV (KJV), where coincident chargeability and conductivity structures that may be caused by sulphides will also be drilled.
The coincident DDIP anomalies at Mallory are proximal to copper-gold-silver-cobalt anomalism intersected in previous drilling, where values of up to 1,480ppm copper, 98ppb gold, 30g/t silver and 592ppm cobalt was recorded.
The company has also been granted two additional Moora Project tenements, E70/6557 and E70/6558. The new tenements, located 1.4km east of the Mt Yule Gravity Anomaly, increases the contiguous Moora Project and Koojan JV combined area to 932 sq. km, with planning of first pass exploration for these tenements underway.
Minerals 260 holds 100% of the Moora Project and has the right to earn up to 51% equity in the Koojan JV. Minerals 260 has already earned a 30% beneficial interest in the KJV tenements.
The Projects are located in the Julimar Mineral Province, ~150km north-east of Perth, Western Australia.
The start of this drilling program is an exciting time for Minerals 260 as we follow up on last years’ drilling at the Moora and Koojan Projects,” Managing Director, Luke McFadyen, said.
“The results from the ongoing DDIP work are very encouraging and we are appreciative of the local stakeholders who have supported us again this year. We look forward to updating investors regularly over the coming months with results from this programme.”
