Minerals 260 Limited (ASX:MI6) has commenced a programme of follow-up Reverse Circulation (RC) and diamond core drilling at the Mynt prospect on its wholly- owned Moora Project located ~150km north-east of Perth, Western Australia.
The drilling will target strike and depth extensions of recently reported intersections which included 21m @1.3% Cu and 0.4g/t Au from 119m (MRRC0089) and 11m @1.5% Cu and 0.6g/t Au from 118m (MRRC0100).
The company originally intended to await assay results which are pending for 14 recently completed drill holes at Mynt before planning further drilling.
However, given the potential for the prospect to host a significant mineralized system and the likely early commencement of cropping activities, the company has elected to immediately undertake a further 6-13 hole/1,000m-1,500m programme based on the available data and visual observations.
The drilling, which is scheduled to continue until mid-March 2023, will test approximately 500m of strike of an interpreted +1km mineralized zone and to a vertical depth of 300m.
Assays are also pending for another 26 holes drilled elsewhere on the Moora Project and the adjacent Koojan JV area as part of a recently completed 82-hole/12,959m RC programme designed to test multiple targets defined by previous geochemical and geophysical surveys.
The Moora Project forms part of a contiguous, 1,000sq. km land package which includes the adjacent Koojan JV, where the company is in joint venture with Lachlan Star Limited and has earned an initial 30% equity with the right to increase this to 51%.
“Given recent results have confirmed the potential for a significant copper-gold system at Mynt, the decision to fast track further drilling ahead of planned cropping activities was warranted,” Managing Director, David Richards, said.
“Results from this drilling programme will give us additional data to plan further work at the prospect.
“Our strong cash position means the company is well positioned to advance exploration at Moora and our other projects.”
For further information please visit: https://minerals260.com.au/
