Native Mineral Resources Holdings Limited (ASX: NMR) has completed the first phase of drilling at the Maneater polymetallic sulphide breccia Prospect in North Queensland.
Drilling has confirmed the western extension of the interpreted polymetallic (Zn-Cu-Pb-Ag-Au-Sb) sulphide-bearing breccia and has identified sulphides and other key minerals including pyrite, sphalerite, galena and chalcopyrite.
Managing Director, Blake Cannavo, said the identification of sulphides in over 450m of drill core in MPD003 provides confidence for the continuity of the mineralised breccia both laterally and at depth, beyond what had been anticipated.
“NMR is delighted to report that it has completed a second, very successful diamond drill hole which has recovered the same sulphide-bearing rocks as found in MPD002,” Mr Cannavo said.
“The results are significant as the company was testing the south-western continuity of mineralisation which has now been demonstrated and proves that the sulphides are potentially much more voluminous than NMR first considered.
“The company is awaiting assays from MPD002 before finalizing plans to complete a third hole to better test the northern and deeper extension of the breccia as had been planned in MPD002.”
Drill hole MPD003 was completed in late November with a total EOH depth of 543.3m. NMR have now completed two diamond holes for a total depth of 1020.9m. MPD002 is HQ whereas MPD003 is HQ diameter drill core to 158.6m and NQ drill core from 158.6 to EOH at 543.
The diffuse “edge” of the breccia was intercepted at approximately 100m down hole and recognised by the sharp increase in the abundance of sulphide veining within fractured sandstones and mudstones. The intercept of further massive, semi-massive and disseminated sulphides and multiple sections containing phyllic-altered, pyrite-bearing intrusive rocks is an exciting development that is continuing to add valuable mineral distribution and volume information to the target.
Additional prospects identified around the Maneater Breccia
In addition to the recently acquired results from drilling, field work on the ground around the Maneater Peak has continued to follow up on existing rock chip samples including sample Q26178 (located 900m south of the current drilling at 267210mE, 8120870mN GDA94) Au 1.07g/t and 1.21g/t (r), Ag 640 ppm, Cu 175 ppm, Pb 7.4%, Zn 1800 ppm, Mo 3.5ppm, Bi 3.7ppm, Sb 2.31% and to identify new targets with alteration indicative of base metal mineralisation near to Maneater Peak Breccia.
The rocks are heavily iron stained and contain hematite (+/- other weathered sulphides) in veins parallel to the ~N-S trend of the regional rocks and are located only 750m from current drilling.
For further information please visit: https://nmresources.com.au/
