Alta Zinc Limited (ASX: AZI) has reported high-grade cobalt, nickel, copper, and silver from the 2020 field campaign at its Punta Corna project in Northern Italy.
The company said that the high-grade results from the recent grab sampling program confirm mineralisation over an approximate 2km strike length.
Best results from recent vein sampling included 5.0% Co, 6.5% Ni, 0.3% Cu, 11g/t Ag, and 5.8% Cu, 405g/t Ag, from San Giovanni Vein samples 603 and 499, and 10.0% Cu and 964g/t Ag, from Bocca del Prete Vein sample 701.
AZI said that the mineralisation is also present over at least 1.3km of vertical elevation with good potential for further veins to be discovered in-between the known vein sets as part of a new, EU backed, research project.
2020 field campaign at Punta Corna
The company had recently commenced the 2020 field campaign at its Punta Corna project which included detailed mapping and sampling of seven mineralised main veins historically mined for cobalt, nickel, copper, and silver.
Punta Corna is complementary to the company’s base metals strategy in Italy and, like the Gorno Project, stands to benefit from the current initiative by the EU to secure clean domestic sources of base and energy metals.
AZI said that hydrothermal veins were defined over a strike length of approximately 3.5km at Punta Corna, of which the Company has only sampled over some 2km of strike length and a vertical range of 1.3km.
High-grade assays
The company reported high-grade assay results from the exploration work recently completed at Punta Corna.
Significant results included 5.0% Co, 6.5% Ni, 0.3% Cu, 11g/t Ag, and 5.8% Cu, 405g/t Ag, from San Giovanni Vein samples 603 and 499, 1.0% Co, 0.4% Ni, 0.2% Cu and 38/t Ag from San Carlo Vein sample 698, 2.2% Cu and 452g/t Ag, 1.2% Cu and 260g/t Ag from Santa Barbara Vein sample 703 and 704, 4.5% Cu and 566g/t Ag, from Speranza Vein sample 614; and 10.0% Cu and 964g/t Ag, from Bocca del Prete Vein sample 701.
Highlighted 2020 Grab Sample Assay Results (selection criteria Co, Cu or Ni > 0.15% or Ag>15g/t) are as shown below.
Selected as project area for PRIMSA
AZI announced that Punta Corna was selected as a project area for a cutting edge hyperspectral satellite remote sensing project (PRIMSA) by the University of Naples in partnership with the European Union, CSIRO (Australia), and the British Geological Survey (BGS).
The company said that this will be used as an efficient and low cost exploration technique over the entire Project area to identify any alteration zones surrounding the mineralised vein system, which could rapidly and significantly increase the exploration coverage to help identify new exploration targets.
Next steps
The company announced that future work at Punta Corna will explore for additional veins that may be present elsewhere in the licences and also for additional vein splays within the Project area.
AZI said that diamond drilling will be targeted to intersect multiple veins and to test the continuity of mineralisation at depth from and along strike of the known mineralisation.
The company noted that potential extensions are on strike from the defined veins and between all vein structures, also in a north east direction in the Balme licence. Alta said that it will progress the PRISMA work, commence petrochemical analysis of existing samples, and begin field work on the Balme licence area.
In December 2020 Alta applied for a 3-year renewal of exploration tenure to include diamond drilling. The renewal is currently being assessed by the National and Regional Regulators, who are already familiar with the Company’s exploration activities in Italy. The Company said that it is hopeful that the grant date will be in time for the 2021 summer season and are working closely with the Regulators to ensure they have all the information required to make their assessment.
Management statements
Geraint Harris, MD of Alta Zinc commented: ‘’Our exciting results and an in-depth review of both historical exploration and recent research have given us increased confidence in the largely untapped mineral potential of Punta Corna, and the role it could play in the hugely supportive energy metals thematic in Europe.
This leads us to the next step, which is to drill test a number of the exciting targets on the property. This is complementary to our strategy to define and develop the Gorno project, to help satisfy the strong demand for clean and traceable sources of raw materials that exists in Europe.”
* Image courtesy Alta Zinc Limited