Bindi Metals (ASX:BIM) has prioritised the extension of soil sampling and is planning for a regional drilling program at the Tea Tree prospect, part of its Biloela Copper Project in Queensland.
The works program follows the company uncovering a potential ‘extensive’ copper porphyry system through the aforementioned soil sampling program and a gradient array induced polarisation (IP) survey.
Bindi reports results from both sampling and the survey demonstrate ‘extensive’ anomalism at Tea Tree.
The results also highlight a 2km long copper-gold-zinc (Cu-Au-Zn) soil anomaly associated with a 1km long gradient array IP chargeability anomaly and an intercept of 25m @ 1.3 grams per tonne (g/t) Au, 1.5% Cu, 0.6% Zn which remains open.
Bindi confirms a second anomalous zone has been flagged only 200m to the east of Tea Tree and returned a 1.1km long copper-zinc soil anomaly associated with a 1.4km gradient array IP chargeability anomaly and historical rock chips of up to 23% copper and 29% zinc.
The company has also uncovered a new prospect at Tea Tree West with a 1km copper-gold-molybdenum-bismuth soil anomaly associated with a bulls-eye magnetic high and radiometric potassium anomaly within an area that has seen no previous exploration.
Bindi Metals Executive Director Henry Renou says the targets represent ‘encouraging’ and ‘significant’ drill targets which have never been drill tested.
“Extensive soil and IP anomalies at Tea Tree as well as the newly discovered zone at Tea Tree West are highly encouraging and represent significant drill targets which surprisingly has never been drill tested.”
Bindi Metals is a copper, gold, and rare earth explorer with projects sitting in tier-one mining jurisdictions with proven geological potential where it hopes to discover critical minerals essential to the global energy transition.
The company’s Biloela Project sits 90km from Gladstone in central Queensland and 100km from Evolution Mining’s (ASX:EVN) Mt Rawdon Mine.
As of 30 September 2023, Bindi Metals had $1.482 million cash and cash equivalents at hand. However, the company is actively managing expenses and implementing cost-reduction measures to streamline operations over the coming quarter while it continues discussions with potential strategic funding partners.
Write to Adam Drought at Mining.com.au
Images: Bindi Metals
