Cobre confirms significant high-grade copper gold results at Perrinvale

Cobre Limited (ASX: CBE) has announced a highly encouraging update on the diamond drilling program at the Schwabe, Zinco Lago, and Monti prospects within its Perrinvale Volcanic-Hosted Massive Sulphide (VHMS) Project in Western Australia.

The company reported that at Schwabe Prospect, drilling and assay results confirm the presence of a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth.

Significant hits include 6m @ 8.39% Cu, 3.52% Zn, 30g/t Ag, 0.14% Co, 3.1g/t Au from 49m; and 6m @ 5.63% Cu, 3.89% Zn, 22g/t Ag, 0.1% Co, 1.4g/t Au from 28m.

CBE said that at the Zinco Lago Prospect, drilling results uncovered disseminated, stringer and narrow massive base metal sulphide mineralisation.

The company said that the exploration program is moving forward. CBE reported that further electromagnetic work will now be completed to provide updated targets for the next phase of drilling at Perrinvale.

Perrinvale project

Cobre Limited is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project, covering 381km2 of the Panhandle and Illaara Greenstone Belts, in central Western Australia.

in August 2019, Cobre completed an airborne electromagnetic survey within the Perrinvale project area and identified a total of 10 potential VMS prospects. The project hosts four confirmed VMS base metal prospects called Schwabe, Zinc Lago, Ponchiera, and Monti.

Drilling at Perrinvale

The company had commenced diamond drilling program at the Schwabe, Zinco Lago and Monti prospects within the Perrinvale project.

As part of the program, four diamond core drill holes were completed at the Schwabe Prospect including a tail on a Reverse Circulation (RC) hole drilled during the Company’s initial exploration program in 2019. These drill holes are named 20PVDD003, 20PVDD004, 20PVDD005, and 20PVDD006 (tail).

Two diamond core drill holes were completed at the Zinco Lago Prospect, 20PVDD001, and 20PVDD002.

Three diamond core drill holes were completed at the Monti Prospect 20MTDD001, 20MTDD002, and 20MTDD003. The holes targeted areas of copper-bearing surface gossan and intersected generally low levels of primary sulphides including disseminated, veinlet and blebby/clustered pyrrhotite, pyrite, chalcopyrite, and sphalerite.

High-grade intercepts

The company announced high-grade intercepts from the drilling at Perrinvale project.

Schwabe prospect

The company announced that the detailed logging of the Schwabe core samples confirmed a VHMS system exists close to surface in this location.

The mineralised core intercepts at Schwabe comprise DD Hole 20PVDD003 – 6m @ 8.39% Cu, 3.52% Zn, 30g/t Ag, 0.14% Co, 3.1g/t Au from 49m; DD Hole 20PVDD004 – 6m @ 5.63% Cu, 3.89% Zn, 22g/t Ag, 0.1% Co, 1.4g/t Au from 28m; and DD Hole 20PVDD005 – 4m @ 2.76% Cu, 0.97% Zn, 12g/t Ag, 1.7g/t Au from 79m.

Zinco Lago prospect

CBE said that the drill holes at Zinco Lago prospect intersected lower-level base and precious metals mineralisation.

Highlights include DD Hole 20PVDD001 – 10.2m @ 0.10% Cu, 0.63% Zn, 0.11g/t Au, 3.6g/t Ag from 31m (including: 0.8m @ 0.99% Cu, 1.42% Zn, 1.74 g/t Au, 20.04g/t Ag from 39m); and DD Hole 20PVDD002 – 6.5m @ 0.33% Cu, 0.57% Zn, 0.02g/t Au, 3.9g/t Ag from 46m.

Monti prospect

The company reported that broad base metal mineralisation was intersected at Monti prospect. Highlights include DD Hole 20MTDD002 – 26m @ 0.32% Cu, 0.08% Zn, 0.10g/t Au, 3.07g/t Ag from 105m; and DD Hole 20MTDD003 – 11m @ 0.08% Cu, 0.23% Zn, 0.04g/t Au, 1.07g/t Ag from 64m.

DHEM surveys

Following the core drilling, Down Hole Electromagnetic (DHEM) surveys were conducted at the Schwabe Prospect.

The company said that these DHEM results align with the model constructed following the Airborne Electromagnetic (AEM) survey in 2019.

Together, this analysis indicates the presence of a robust and highly conductive central zone within the existing Schwabe drill area, with potential for a lower conductivity zone extending to the north or north-northwest of the existing exploration area.

DHEM surveying was also undertaken at both Zinco Lago locations, with a strong conductor identified below the drill holes. This conductor is not obvious in the AEM data. The company said that spatial position of the modelled conductor is aligned with the down dip projection of the mineralised horizon identified in the drill core.

CBE said that DHEM was completed in the north and south at the Monti Prospect, with small conductive features identified in the northern area. A much stronger off-hole conductor has been identified in the south adjacent to 20MTDD003.

Next steps

Cobre said that its next stage of exploration at the Perrinvale Project involves Moving Loop Electromagnetic (MLEM) surveys across both the recently drilled prospects and other priority conductive features identified during the 2019 AEM survey.

The Company announced that it will release details regarding the recent DHEM results, details of the MLEM program, and further exploration plans when they are available.

Management comments

Cobre’s Executive Chairman and Managing Director, Martin Holland said: “The recently completed diamond drilling program confirms the presence of significant VHMS mineralisation within the Perrinvale Project.

In particular, the assays from the Schwabe Prospect continues the positive results achieved from our maiden drilling campaign of that area in 20191. Further EM studies at the three Perrinvale prospects will determine the next stage of exploration drilling. I look forward to updating the market on these development as they come to hand.”

Further, in relation to the COVID-19 pandemic, Mr. Holland said: “Having assessed the potential impacts of COVID-19, Cobre remains comfortable that its employees, consultants and contractors can continue with the planned exploration activities given its remote location and small crew on site.

Local contractors will be utilised as far as possible, and all staff and contractors will be required to observe the necessary protocols. The situation is however dynamic, and the Company will continue to monitor developments.”

Written By Jonathan Norris
Jonathan is a founder of and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.