Todd River Resources (ASX: TRT) has intersected a 24m-thick zone of base metals sulphide mineralisation at the EM1 prospect, part of its Mount Hardy copper-lead-zinc project in the Northern Territory.
The massive sulphides were found downhole from 185m and were detected with a portable XRF scan of the drill core. However, the XRF scan is a guide, with samples sent off to the laboratory and official results pending.
Based on average XRF readings, the 24m interval graded 2.0% copper, 0.9% lead, 2.4% zinc for a combined base metals grade of 5.3%.
According to Todd River Resources, two higher grade smaller intervals were identified from the XRF reading of 18.1% base metals and 13.8% base metals.
Todd River chief executive Will Dix called the result “outstanding” and said it was a “great start to our 2018 field season”.
“The Mt Hardy project has been a priority project since Todd River listed last year, and to achieve such a significant intersection of massive sulphide mineralisation at a relatively early stage of our program is a real win for persistence,” he said.
“A large amount of work has been put in behind the scenes on analysing geophysical data and understanding the geology of the Mt Hardy project.
“This hard work has now well and truly paid off – resulting in really well-targeted holes – and the credit for that needs to go to our exploration team. From here, we will be completing down-hole geophysics and planning additional follow-up drilling while we wait for the analytical confirmation of the base metal grades.”
The drill hole will be subjected to an electromagnetic geophysical survey to find extensions to the base metals sulphide mineralisation.
Additional drilling to follow-up this intersection along strike and at depth is due to begin “immediately”.
To-date three holes have been drilled at EM1 totalling 578.4m.
Todd River’s securities ended trade at A$0.11, unchanged from the previous day’s close.