Odin Metals hits high-grade copper at Grasmere target within Koonenberry project
Odin Metals kicked off a 5,000m reverse circulation program at Koonenberry at the end of October.
Assays from drilling at Odin Metals’ (ASX: ODM) flagship Koonenberry copper project in New South Wales have returned high-grade copper intercepts from the Grasmere target.
Twelve reverse circulation holes for a total 1,838 metres were completed at the target, three of which were pre-collars for planned diamond drill tails and designed to target higher-grade mineralisation at depth.
Best results were 12m at 1.16% copper from 80m including 8m at 1.62% copper from 83m; 8m at 1.46% copper from 92m including 5m at 2.72% copper from 94m; 3m at 1.70% copper from 86m; and 2m at 4.6% copper from 192m ending in mineralisation.
Grasmere is located within a structurally controlled volcanogenic massive sulphide (VMS) trend which extends for more than 22km.
Past drilling has covered only 5km of the trend and the mineralisation has been described as “a well-defined zone” ranging in thickness from 2m to 15m.
Existing lodes in the historic resource are separated by gaps of up to 270m in past drilling.
One of Odin’s reverse circulation holes successfully tested one of these gaps, giving the company confidence that the mineralisation continues through these sections.
Expanding the resource
Odin restarted drilling at Grasmere this week, with a focus on expanding and confirming the current resource and testing helicopter-borne time domain electromagnetic (HeliTEM) anomalies along strike.
The anomalies were defined in a large-scale survey last year which identified potential sulphide mineralisation throughout the northern tenure controlled by the company.
Drilling is designed to scope out further mineralisation within the 3.3km envelope of the historic resource estimate, testing along strike, down dip and at depth as well as infilling the gaps in the existing resource drilling.
Odin plans to complete a further 5,000m of reverse circulation drilling before May and then commence diamond core drilling initially at Grasmere, followed by the Cymbric Vale and Wertago targets.
District-scale package
Koonenberry is an emerging, district-scale, copper-base metals exploration package covering 2,600sq km of land along 150km strike of the underexplored Koonenberry Belt near Broken Hill.
The project was acquired by Odin in February 2021 from private company Peel Far West Pty Ltd.
Odin considers its location to be highly-prospective for various styles of mineralisation including VMS-hosted copper-zinc-gold-silver deposits, magmatic nickel-copper-platinum group elements, epithermal silver-lead-copper and orogenic gold.