Power Minerals unearths broad copper zones in maiden drilling at Santa Ines
Power Minerals intercepted copper and gold in all target zones of its initial five-hole diamond drilling program at Santa Ines.
Power Minerals (ASX: PNN) has unearthed broad zones of copper during drilling at the Santa Ines project in Argentina’s northwest.
The company has received results from a maiden five-hole diamond drilling program at the project that totalled 651.4m and was completed in May.
Drilling targeted mineralisation below historical surface workings as well as a shallow magnetic anomaly.
Highlight intercepts were 26m at 0.60% copper from 62m, including 2m at 1.36% copper from 74m; and 2m at 1.3 grams per tonne gold from 62m.
Surface oxide samples also returned up to 8.6% copper and 0.70g/t gold.
Copper and gold were hit in all target zones, with elevated zinc also present in drill holes and surface samples.
Power noted the iron oxide-copper-gold mineralisation uncovered at Santa Ines was a similar style to nearby operating mines and active projects in the Salta Province.
Potential for ‘significant’ copper-gold discovery
Executive director Mena Habib said results from the first pass drilling at Santa Ines have validated the company’s exploration approach, and confirmed the potential for a “significant” copper-gold system at the project.
“The copper-gold drilling results provide a clear direction to help assess future plans for the project, in parallel with our core focus to rapidly advance our Argentinian lithium assets,” Mr Habib added.
In advancing Santa Ines, Power will now review its geological interpretation along with available regional geophysical datasets to determine more targets.
If warranted, the company will then follow up the targets with geophysical surveys to refine planning for a second drilling program.
Santa Ines comprises four mining leases covering 61.4 square kilometres in the Salta Province.
The project is within the same geological setting as BHP’s (ASX: BHP) nearby Escondida copper-gold mine in Chile, and is only 40km southwest of First Quantum’s (TSE: FM) advanced Taca Escondido copper-gold-molybdenum project, and 50km northwest of Fortuna Silver’s (NASDAQ: FSM) Lindero gold mine.