Minerals 260 Limited (ASX:MI6) has confirmed the potential for significant copper-gold mineralization at the Mynt prospect, part of the company’s wholly-owned Moora Project located ~150km north-east of Perth in the Julimar Mineral Province of SW Western Australia.
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%.
In November 2022, Minerals 260 commenced a major drilling programme at Moora and Koojan designed to test 26 targets including the Mynt prospect and a number of other priority prospects where previous exploration had defined significant gold and copper-gold mineralization. The programme, which comprised a total of 82 RC holes for 12,959m, was recently completed.
At Mynt and the immediate adjacent area, a total of 17 RC holes were drilled for 2,918m, plus three subsequent diamond core holes (MRRD0088, MRRD0012-0013) for 588m. Assays been received for three RC holes – MRRC0087, MRRC0089 and MRRC0100.
MRRC0089 and MRRC0100 were drilled 40m south-east and north-west respectively of the initial discovery hole MRRC0040 and were designed to determine the trend and continuity of the mineralization.
The Mynt prospect was originally identified by soil geochemistry and shallow air-core drilling which defined a ~three km long, broadly east-west trending copper-gold anomaly coincident with a contact with an arcuate magnetic high that appears to be demagnetised in the east.
The latest results indicate that:
• The mineralization is hosted by a steeply south-west dipping, structurally controlled, quartz-sulphide (chalcopyrite-pyrrhotite+bornite/ veined zoned within foliated mafic amphibolites. Geological observations from MRRD0088, drilled beneath MRRC0040, indicate that the mineralized zone may be thickening at depth.
• Mineralization is partially remobilized and upgraded by pegmatite intrusions.
• The main pathfinder element associated with the copper and gold is tungsten plus elevated silver,
bismuth and tellurium.
• Arsenic values are low.
RC drilling in 2021 (MRRC0008 -0014) into the eastern part of the Mynt geochemical anomaly returned several significant results which are now interpreted to be part of the main mineralized trend.
Follow-up drilling at Mynt will be planned once results are received for the outstanding holes, which are being prioritised at the assay laboratory.
MRRC0087, which was drilled into an EM anomaly located south of the main Mynt trend, intersected a 3m thick, semi-massive to massive sulphide zone which returned 3.0m @0.3% Cu, 0.6% Ni, 0.09% Co and 70ppb Au from 92 – 95m. This appears to be a different style of mineralization to Mynt, and further drilling will depend on results from the holes drilled immediately along strike.
Assays have also been received for an additional 14 RC holes (MRRC0069, 0075, 0076, 0078, 0080-0083, 0091 – 0096), drilled into targets on the Koojan JV. Further elevated gold (up to 98ppb) was recorded from the Mallory prospect and a review is underway to determine whether follow-up drilling is warranted.
“Mynt continues to develop into what appears to be a significant mineralized system, with recent drilling delivering new wide copper-gold intercepts on either side of the discovery hole and strong visual indications from deeper drilling,” Managing Director, David Richards, said.
“We are pleased that the latest results have validated the geological observations that led to us to proceed with the second phase of drilling at Mynt, and we look forward to receiving the next round of assays and planning follow-up drilling.”
For further information please visit: https://minerals260.com.au/