Minerals 260 (ASX:MI6) has started a 6 to 13 hole follow-up reverse circulation (RC) and diamond core drilling program at the Mynt prospect within its wholly owned Moora project in Western Australia.
The company says drilling has been designed to target strike and depth extensions of recently reported intersections including 21m @ 1.3% copper (Cu) and 0.4g/t gold (Au) from 119m (MRRC0089); and 11m @ 1.5% Cu and 0.6g/t Au from 118m (MRRC0100).
Minerals 260 notes drilling has begun ahead of the return of 14 outstanding assays produced from drilling at the Mynt prospect, due to the potential for the prospect to host a ‘significant’ mineralised system.
Drilling is scheduled to continue until mid-March 2023 and will test about 500m of strike of an interpreted 1km mineralised zone to a vertical depth of 300m.
Addressing the start of drilling, Minerals 260 Managing Director David Richards says: “Given recent results have confirmed the potential for a significant copper-gold system at Mynt, the decision to fast track further drilling ahead of planned cropping activities was warranted. Results from this drilling program will give us additional data to plan further work at the prospect.
“Given recent results have confirmed the potential for a significant copper-gold system at Mynt, the decision to fast track further drilling ahead of planned cropping activities was warranted”
Our strong cash position means the company is well positioned to advance exploration at Moora and our other projects.”
The company also notes it is awaiting the return of a further 26 holes completed elsewhere on the Moore project tenement and adjacent to the Koojan joint venture (JV) area as part of a recently completed 82-hole RC drilling program.
This previous drilling program was designed to test multiple targets defined by previous geochemical and geophysical surveys.
With RC drilling now underway at the Mynt prospect, Minerals 260 announces it will also undertake cropping activities in conjunction with drilling.
Minerals 260 is an ASX-listed company created to contain the non-lithium assets of Liontown Resources (ASX:LTR), which included the Moora and Koojan projects located in the Julimar Mineral Province of southwest Western Australia. The company’s Moora project represents part of a contiguous 1,000km-square land package which includes the adjacent Koojan JV, where the company is in a JV with Lachlan Star (ASX:LSA) and has earned an initial 30% equity with the right to increase this to 51%.
Other assets included in the company’s exploration portfolio include the Dingo Rocks Project in Western Australia’s Albany-Fraser Orogen area.
Images: Minerals 260 Ltd
