Moora project WA

Minerals 260 confirms ‘significant’ exploration potential at Moora Project in WA

Minerals 260 (ASX:MI6) reports initial assay results from follow-up reverse circulation (RC) drilling has confirmed the potential for a ‘significant’ gold-copper zone at the Zest prospect in Western Australia.

The prospect, which is part of the company’s 100% owned Moora Project located 150km north-east of Perth in the Julimar Mineral Province of Western Australia, has an ‘outstanding’ intercept of 13m at 3.3 grams per tonne of gold.

Minerals 260 recently completed a 16-hole, 2,638m RC program drilling program over three targets:

  • Zest – Drill-holes MRCC0042–0051
  • Angepena – Drill-holes MRRC0052-0054
  • Moora Gravity Anomaly (MGA) – Drill-holes MRRC0055-0057

Commenting on the results, Minerals 260 Managing Director David Richards said: “The early indications from Zest, which was the main focus of this recent drilling program, are very encouraging.

“The outstanding intercept of 13m at 3.3g/t Au appears to confirm the extension of the previously intersected copper-gold mineralised zone.

This continues our success in identifying significant mineralised zones across the project area.

This continues our success in identifying significant mineralised zones across the project area

We look forward to receiving the remaining assays. In the interim we will review the large volume of data collected, allowing us to identify further high-priority targets.

“We are also well advanced in our planning for a major drilling program commencing later this year which will be funded via our existing cash which totalled $25.5 million at 31 March 2022.”

The Moora Project forms part of a contiguous, 1,000km-square land position, which includes the adjacent Koojan JV, where the company is in joint venture with Lachlan Star (ASX:LSA) and has the right to earn up to 51% equity.

The drilling at Zest and Angepena tested for strike and/or dip extensions of previously reported results, while the three holes into the MGA were designed to provide geological data from the southern part of the anomaly.

Results have only been received for MRCC0043 at Zest, assaying of which was prioritised ahead of other holes based on geological logging.

A total of 10 RC holes for 1,715m were drilled as part of the recent program at Zest to test for strike and dip extensions of mineralisation intersected earlier this year.

The latest results appear to confirm the down-dip extension of the mineralisation (Figure 3) with a 2-3 diamond core drilling program in progress to provide structural and geological data to support this interpretation.

In addition to Zest, previous exploration by Minerals 260 has discovered significant mineralisation at Mynt (up to 24m @ 1.9% Cu and 0.7g/t Au from 99-123m, including 14m @ 2.9% Cu and 1.1g/t Au from 100-114m) and Angepena (up to 43m @ 1.8g/t Au from 198-241m, including 18m @ 3.9/t Au from 211-229m).

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.