Bindi Metals confident of extensive copper zones within Biloela project
Best assays from the drilling program include 2m at 3g/t gold and 2% copper.
The completion of a maiden drilling program and multiple intercepts of visual copper at the Flanagans and Great Blackall targets has given Bindi Metals (ASX: BIM) confidence that extensive zones of mineralisation exist within the Biloela project in Queensland.
Drilling of 20 reverse circulation holes for 2,375 metres focused on the Flanagans copper-gold soil anomaly (hosting up to 13g/t gold and 5% copper in rock chips) and a 500m extension of the Great Blackall prospect where historical exploration revealed 12m at 1.8% copper and 0.45g/t gold including 2m at 9.4% copper and 2.1g/t gold.
Bindi intersected several potentially shallow copper-gold mineralised zones in quartz veins at Flanagans over 1km and reported visual evidence of copper mineralisation as “very encouraging” for the prospect.
At Great Blackall, the company also encountered visual evidence of copper extending over 400m west from historical drilling.
Best assays
Bindi posted the drilling results in its December quarterly report released this week, with best assays of 2m at 3 grams per tonne gold, 2% copper, 3.7g/t silver from 21m including 1m at 6g/t gold, 3.5% copper and 6.9g/t silver; 1m at 5.1g/t gold, 0.2% copper, 1.7g/t silver from 96m; and 2m at 2.3g/t gold, 0.3% copper, and 3.1g/t silver from 15m including 1m at 4.6g/t gold, 0.1% copper and 5.8g/t silver.
The results indicated a large untested intrusion-related target at depth which could potentially be the source of metals at Flanagan’s and Great Blackall.
Targeting work
Bindi said targeting work including a magnetic inversion model, downhole multi-element ratios and a multi-element soil geochemical ratio review support the interpretation that a “new and exciting” high priority intrusion-related drill target occurs at depth at Biloela.
The target is believed to be the source of peripheral, shallow vein-style mineralisation at Flanagans.
It is interpreted to occur within a fault-controlled vein-system at mesothermal level and is part of a broader intrusive-related system based on vein textures observed in the mineralised intersections.
Next steps will include drill testing the porphyry-type target, completion of several lines of a deep penetrating induced polarisation survey to constrain the drill target, as well as mapping programs and reviews of drill data and surface geochemistry.