Duke Exploration reports copper-silver-gold hits in previously undrilled ground

Duke Exploration DEX ASX copper silver gold hits previously undrilled ground Bundarra
Highlights results include 7m at 3.85% copper, 58.2g/t silver and 0.1g/t gold.

Recently listed Duke Exploration (ASX: DEX) says scout drilling at its 100%-owned Bundarra project in Queensland has discovered promising grades of copper and silver, along with gold, at a previously unexplored area which will now be the target of pattern resource drilling.

Bundarra is located near Mackay and the ground includes the old Mt Flora mine and two associated tenements, Duania and Waitara.

The Mt Flora mine was, during one part of the 1800s, Australia’s highest-grade copper producer.

The scout drilling was carried out at the Quarry Anomaly, 500m east of the old Mt Flora mine.

Intersections reported so far include 7m at 3.85% copper, 58.2 grams per tonne silver and 0.1g/t gold; another hole returned 8m at 1.53% copper, 27.8g/t silver and 0.04g/t gold.

Mineralisation was intercepted at depths of 21m and 70m respectively.

No historic mining or exploration has been recorded from the Quarry Anomaly.

Copper and silver-rich veins

The company says the results so far confirm that the soil and geophysical anomalies are from bedrock copper and silver-rich veins.

The mineralisation extends over 300m of strike, 130m in width, and to a depth of 160m, with veins open in all directions.

The sulphide veins there are now known to be similar to ones at Mt Flora and their widths and grades appear to be improving to the north, Duke says.

Drilling has now paused for the holiday season with 23 holes so far completed for 3,905m.

The program has a target of 43 holes for 7,040m.

New vein system discovered

Duke chairman Toko Kapea said drilling will continue to focus on the old Mt Flora mine area.

“We are particularly excited that we have already discovered a new copper and silver-bearing vein system, that seems like Mt Flora, in our first exploration holes,” he added.

“We believe this will be repeated around the margins of the Bundarra Pluton as our exploration continues into the future.”

Duke listed in early November with a focus on copper-gold and projects inland from Mackay, near Rockhampton and north of Canberra.

In its prospectus, Duke stated that it planned to use government-funded mineral system research and precompetitive data and combine that with computer-based data analytical techniques.

This, the company said, would offer new, effective ways to identify opportunities typically not recognised by most exploration strategies.

Duke is now searching for a second rig to beef up drilling at Bundarra.

    Join Small Caps News

    Get notified of the latest news, events, and stock alerts.