Recently-listed R3D Resources (ASX: R3D) has completed its third diamond hole on the Tartana mining leases in the Chillagoe region of north Queensland, testing major targets outside of an existing copper mineralised zone.
Drilling focused on the IP (induced polarisation) targets as well as the newer Valentino zone and depth extensions underneath an existing and partially-rehabilitated open pit.
The work intersected over 50m of veined and brecciated phyllic-altered sandstone with a mixed sulphide content (predominantly pyrite-chalcopyrite) of between 5% and 10%.
The results will assist the parallel advancement of a larger copper-gold project on the leases and the restart of copper-sulphate production from an onsite heap leach (solvent extraction) crystallisation plant focused on exploiting shallow copper-oxide mineralisation.
With 1,450m of drilling completed to date of a 1,600m program, R3D said the initial findings had been “very encouraging” and include confirmation that geophysical IP anomalies are mapping sulphide mineralisation; and that extensive mineralised zones of up to 10% sulphides exist within the leases.
Drilling also intersected a 10m zone of semi-massive sulphides, situated 300m below historic exploration and with likely extensions to near surface.
R3D will use the results for future infill work using “parent-daughter” wedging which could potentially link with historically-defined mineralisation in the pit.
The recent holes also allow a platform for broad DHEM (downhole electromagnetic) investigation of depth extensions to known mineralisation and evolving polymetallic peripheral extensions.
Managing director Steve Bartrop said visible porphyry copper in the core confirmed Tartana’s mineralisation stretches beyond the immediate open pit.
“These holes have enabled broad testing of targets which support the potential for a future copper sulphide project [and] includes the polymetallic mineralisation intersected below the Valentino prospect, which itself is more than 400m east of the open pit,” he said.
“We look forward to receiving assays, particularly from Valentino where historic drilling has indicated the potential for higher gold, silver and cobalt grades in the Valentino prospect compared to the main pit area.”
R3D acquired copper-gold explorer and developer Tartana Resources in July, funded by a $4.25 million initial public offering prior to its ASX listing.
Tartana owns the advanced Tartana mining leases which contain an existing heap leach crystallisation plant and open pit.
Work has commenced on a planned restart of the plant to provide future cash flow through the sale of copper sulphate.
R3D aims to become a significant copper-zinc producer through advancing the Tartana assets and exploring the copper-gold-silver-cobalt prospects.