C29 Metals Limited (ASX:C29) is preparing to commence exploration activities on the Stadlers Project in Western Australia.
The project, located 60km south of Paraburdoo in the Ashburton Basin, comprises a single granted Exploration Licence (E08/3122) which was acquired by the company before listing.
The transfer of registration of the Exploration Licence to C29 has now been completed and the company is now working in conjunction with heritage groups to complete the transfer of the Indigenous Land Use Agreement (ILUA), which is an important step prior to undertaking exploration fieldwork.
Data compilation and review of past exploration work by the C29 exploration team, has highlighted the potential of the project to host structurally-controlled epithermal copper deposits related to the Capricorn Orogen.
During the review, the company identified up to eight geochemical targets and several geophysical areas of interest. The most advanced exploration target at the Stadlers Project is the Stadlers Gossan, which has recorded rock chip samples of up to 45% copper among other high-grade samples.
This area as well as other documented copper-gold occurrences nearby, were drilled by Newcrest Limited in the early 1990’s. Notable intersections recorded were at PB49: 9m @ 1.86% Cu from 47m and PB27: 3m @ 0.25% Cu from 62m.
Drilling at the ‘Sandfire’ target by Sandfire Resources Limited in 2007 tested an airborne electromagnetic anomaly thought to represent a massive sulphide accumulation, however the drilling was ineffective and no mineralisation or conductor was encountered. Notwithstanding these results, C29 believes this is still a valid target and further drilling is justified when combined with ground geophysics to refine and delineate the targeting parameters.
Recent rock samples from the Stadlers Gossan area follow a well-established pattern of elevated copper in weathered ex-sulphide rock samples. Limited past drilling underneath this zone has demonstrated continuity of grade in zones of quartz veining, brecciation, and oxidized copper minerals and this target is liable to be drill tested further in the future.
From the newly reported rock samples, sample 100 is notable in that it returned 0.37% copper and 1600ppm zinc despite being distant from pre-existing prospects in an area with no mapped gossan. The sample location corresponds with the intersection of two known fault structures and this area warrants further inspection and geological mapping.
Forward Plan
The company is currently in the process of undertaking the regulatory preparation to commence reconnaissance activities over the tenement. Planning has begun for a field reconnaissance, mapping and geochemical exploration activities in the near future once the regulatory approvals are obtained.
This programme is expected to be quickly followed by a more systematic geochemical sampling program across the prospective areas of the tenement.
The company has also engaged an independent geophysical consultant to review existing geophysical datasets including an airborne EM survey which was flown over the project area by a previous operator in 2006. This survey identified several possible conductors within the area. Work is currently ongoing and once completed will provide recommendations for future geophysical work which can advance our exploration targeting.
For further information please visit: https://c29metals.com.au/
