Cobre (ASX: CBE) has uncovered what it claims is a high-grade mineral system comprising copper, zinc, gold and silver at its Perrinvale project in Western Australia.
Diamond drilling at the Schwabe prospect unearthed 6m at 8.39% copper, 3.52% zinc, 30 grams per tonne silver, 0.14% cobalt and 3.1g/t gold from 49m; 6m at 5.63% copper, 3.89% zinc, 22g/t silver, 0.1% cobalt and 1.4g/t gold from 28m; and 4m at 2.76% copper, 0.97% zinc, 12g/t silver, and 1.7g/t gold from 79m.
Following the drilling program at Schwabe, which comprised four holes, Cobre carried out down hole electromagnetic surveys at the prospect.
The results from these were found to align with the company’s model it had created following an airborne electromagnetic survey last year.
Cobre claims the analysis indicates the presence of a “robust and highly conductive” central zone within the existing Schwabe drill area, with potential for a lower conductivity zone outside of current exploration.
“The recently completed diamond drilling program confirms the presence of significant volcanogenic-hosted massive sulphide mineralisation within the Perrinvale project,” Cobre executive chairman and managing director Martin Holland said.
“In particular, the assays from the Schwabe prospect continues the positive results achieved from our maiden drilling campaign of that area in 2019,” he added.
In addition to Schwabe, two diamond holes were undertaken at Zinco Lago which produced lower grades.
These holes returned 10.2m at 0.10% copper, 0.63% zinc, 0.11g/t gold and 3.6g/t silver from 31m, and 6.5m at 0.33% copper, 0.57% zinc, 0.02g/t gold and 3.9g/t silver from 46m.
Over at the Monti target, three diamond holes were completed and intercepted 26m at 0.32% copper, 0.08% zinc, 0.10g/t gold and 3.07g/t silver from 105m; and 11m at 0.08% copper, 0.23% zinc, 0.04g/t gold and 1.07g/t silver from 64m.
Upcoming exploration at the project will now involve moving loop electromagnetic surveys across the recently drilled prospects and priority targets that were identified during last year’s airborne electromagnetic survey.
“Further electromagnetic surveys at the three Perrinvale prospects will determine the next stage of exploration drilling,” Mr Holland said.