Junior explorer Odin Metals (ASX: ODM) has intersected shallow oxide copper and visual copper sulphide mineralisation in most holes of a maiden campaign at its flagship Koonenberry project in New South Wales
Odin has completed 10 reverse circulation holes at Cymbric Vale – close to a historic hole which intersected 20m at 0.73% copper.
The company commenced its program at the Cymbric Vale deposit earlier this month, focusing on an area where a recently-completed HeliTEM (helicopter time domain electromagnetic) survey identified targets over more than 7km of strike.
Drilling covered a historic mining trend where previous limited reverse circulation drilling of two holes spaced 600m apart returned returned the abovementioned 20m intercept and another interval of 20m at 0.33% copper from surface.
Following Cymbric Vale, Odin will move the rig to a target at Big M on the Cymbric Trend.
Odin also plans to drill the Grasmere trend, where priority targets have been identified along strike to the south-southeast of the Grasmere deposit and under the southern end of the deposit itself.
Grasmere boasts an indicated and inferred mineral resource estimate of 5.75 million tonnes at 1.03% copper, and is located 20km to the west of Cymbric Vale.
Odin executive chairman Jason Bontempo said the maiden results were encouraging.
“We are delighted to be intersecting copper mineralisation with our first holes at Cymbric Vale, but, more importantly, recent drilling shows the potential of the still open mineralised strike over 1km within a trend where targets have been identified over a further 7km of strike,” he said.
“Any economic resource discovery at Cymbric Vale will complement our current reported mineral resource estimate at Grasmere.”
Koonenberry is an emerging, district-scale, copper and base metals exploration package located 80km east of Broken Hill.
The project comprises five exploration licences covering 2,600 square kilometres and approximately 150km strike along the significantly underexplored Koonenberry Belt.
The belt is considered highly-prospective for volcanogenic massive sulphide (VMS) mineralisation including copper-zinc-silver-gold, magmatic nickel-copper-platinum group elements, epithermal silver-lead-copper and orogenic gold.