Austral Resources Australia (ASX:AR1) reports maiden drilling at the Canyon prospect intersected copper oxide mineralisation over 1.2km strike extent, less than 4km from its Mt Kelly facility.
Highlights from assays include 24m @ 1.03% copper from 74m, as oxide, including 14m @ 1.60% copper from 83m, as oxide; 57m @ 0.44% copper from 4m, as oxide; and 29m @ 0.36% copper from 48m, as oxide.
Chairman David Newling says the discovery demonstrates the quality of opportunities surrounding existing Mt Kelly infrastructure.
“While the grades and widths are encouraging, what makes Canyon particularly compelling is its location,” Newling says.
“Discoveries of this scale and proximity to existing infrastructure are uncommon. Rather than requiring significant investment in new processing facilities or long haulage distances, Canyon has the potential to leverage infrastructure already in place at Mt Kelly.”
The Canyon system comprises three distinct areas — Canyon South, Canyon Central, and Canyon North — with mineralisation remaining open in multiple directions across all prospects.
Austral says results demonstrate the effectiveness of its renewed exploration strategy and support the company’s objective to expand its copper inventory around existing infrastructure.
Follow-up step-out drilling is now planned to define the dimensions of the mineral system and delineate higher-grade zones, as well as step-out drilling to test continuity and establish potential connections between Canyon North, Central, and South.
Austral also intends to conduct metallurgical testwork to assess heap leach and solvent extraction electrowinning recovery characteristics, alongside undertaking geological and structural studies.
Austral Resources Australia is a copper cathode producer operating in the Mt Isa region in Queensland.
Write to Paula Fabe at Mining.com.au
Images: Austral Resources Australia
