Aeon Metals (ASX: AML) has substantiated visible mineralised drill core comprising copper, cobalt, lead, zinc and silver in its latest assay results for a hole drilled in June at the Walford Creek project in Queensland, with Aeon also reporting today it had unearthed another drill core with observable mineralisation.
Assays from the June drill hole confirmed a 19m intersection grading 1.20% copper, 0.10% cobalt, 1.61% lead, 1.32% zinc and 23 grams per tonne silver from 384m.
The intersection was 3.7km west of the current Walford Creek resource and comprised a 2m higher grade interval grading 3.28% copper, 0.17% cobalt, 10.08% lead, 6.17% zinc and 58g/t silver.
Aeon pointed out the hole had been finished early due to the Fish River Fault, and the mineralisation’s full thickness is yet to be determined.
“This result emphasises the continuity of mineralisation and grade within the Py3 unit west of the resource and highlights the sheer scale of this basin-wide mineral system,” the company stated.
Meanwhile, Aeon has struck visible mineralisation 4.6km west of the Walford Creek resource, with a 42m section comprising veined to massive chalcopyrite and pyrite.
The mineralisation was seen between 332m and 374m and Aeon estimates the total sulphide content of the section is about 57%.
Additionally, the textures that have been logged indicate “good cobalt grades” in excess of 1,000 parts per million.
Actual assays for the core are pending.
These latest drill intersections are part of the company’s 30,000m six-month drilling campaign at the project.
In January this year, Aeon released a resource for the project of 15.7 million tonnes grading 1.24% copper, 0.15% cobalt, 0.98% lead, 0.82% zinc and 34g/t silver.
An additional cobalt peripheral resource of 18Mt grading 0.11% cobalt, 0.16% copper, 1.03% zinc, 0.85% lead and 22g/t silver was also calculated.
The January resource was based on 44-holes drilled for 6,428m as well as historic diamond core data.
According to Aeon, Walford Creek hosts “one of the highest grade and largest tonnages of cobalt metal content” of Australia’s cobalt sulphide deposits.
By early afternoon trade, Aeon’s share price was up almost 9% to A$0.37.