Drilling confirms new copper find at Northern Cobalt’s Running Creek prospect
Aerial view of drilling at Northern Cobalt’s Running Creek prospect.
Northern Cobalt (ASX: N27) has intersected copper mineralisation over 400 metres along a newly-interpreted north-east structure at the Running Creek prospect, situated 1.8 kilometres east of its flagship Stanton cobalt deposit in the Northern Territory.
The intersection has confirmed a new geological model for the company associated with a north-east trending structure, and is believed to be dominated by copper with “significant cobalt credits”.
Best results from drilling at Running Creek were 55m at 0.72% copper from 0m, including 33m at 1% copper from 11m and 7m at 2.1% copper from 18m.
Sulphide mineralisation identified at depth in most holes will be targeted with a planned geophysical survey and subsequent deeper drilling.
Drill chips from Northern Cobalt’s Running Creek prospect.
Running Creek was originally identified by CRA in the 1990s as a group of small, individual copper and cobalt mineralised systems with limited extent.
Northern Cobalt said reinterpretation of the main controls of mineralisation has since linked the systems and led to this week’s “outstanding” intersection.
“The new geological model has allowed us to link a series of small copper-cobalt mineralised systems with infill drilling to extend the system to over 400m in strike,” it said.
“Drilling will continue over the coming weeks to confirm the continuity and lateral extent of mineralisation along the structure.”
An induced polarisation survey starting this month at the Gregjo prospect will be expanded to encompass Running Creek in order to map the potential for further mineralisation at depth.
Running Creek is part of the greater Wollogorang project, which is a sediment-hosted cobalt mineralisation system in the far north-eastern corner of the Northern Territory occurring mostly from surface and with potential for low capital and operating expenditure options.
Last month, Northern Cobalt confirmed the extent of known copper mineralisation at the Gregjo Fault target, approximately 4km south of the Stanton deposit, and is continuing exploration activities at two additional drill sites along the same fault.