ASX-listed Bindi Metals (ASX:BIM) reports the presence of near-surface mineralised zones with visible copper (Cu) minerals following the completion of its maiden reverse circulation (RC) drilling program at its Biloela Copper-Gold (Cu-Au) Project in Queensland.
The results, generated by 20 RC drillholes, indicate a number of potentially shallow mineralised zones within the Flanagans and Great Blackall prospects that are host to visual Cu and potentially Au mineralisation.
It is reported that drilling at the Flanagans prospect intersected a near-surface potentially mineralised zone that boasts a strike over 800m that was identified by quartz and oxidised Cu minerals, including malachite, azurite and chalcopyrite.
Meanwhile, drilling at Great Blackall intersected a potential mineralised zone that returned up to 3% chalcopyrite and boasts a potential strike of 400m, which remains open to the west, east and down dip.
The recently completed maiden RC drilling campaign commenced in September this year with a goal of targeting the 1.5km Cu-Au soil anomaly, which returned grades of up to 13g/t Au and 5% Cu from rock chips, and a 500m extension of the Great Blackall prospect.
Speaking on the drilling campaign, Bindi Metals Executive Director, Henry Renou says: “The drill program has successfully wrapped up and we have completed 20 shallow holes across the Biloela project. Initial results of the drilling are encouraging, and we are eagerly awaiting assay results for the project.
“Initial results of the drilling are encouraging, and we are eagerly awaiting assay results for the project”
We thank all stakeholders involved in the process including our local contractors and landowners, as well as our shareholders for their continued support.”
Bindi Metals also notes that due to limitations of the RC drill rig, drilling could not achieve the targeted maximum depth of 169m, meaning that some of the deeper porphyry drill targets were unable to be tested during this program.
However, the successful definition of the trend of shallow mineralisation is expected to aid in deeper targeting scheduled for next year.
In addition, several of the recently identified zones have been selected for priority rushed assays, with results expected to be received within the next 4 weeks.
Bindi Metals’ Biloela project is located about 30km southeast of the township of Biloela and 390km north-northwest of Brisbane within the highly prospective New England Belt in Queensland. The project is situated in proximity to exploration and resource development company Cannindah Resources’ (ASX:CAE) Mt Cannindah project, which recently recorded world class drill intercepts of 1,022m at 0.5% Cu-Eq.
With the maiden RC drilling campaign now complete, Bindi Metals announces that subject to assay results, it will move forward plans for follow up drilling for Q1/Q2 next year.
Images: Bindi Metals Ltd