Minerals 260 (ASX:MI6) has identified multiple potential copper-gold mineralised shoots from drilling (DD) at the Mynt prospect within its wholly owned Moora Project in Western Australia.
The drilling results have returned further ‘strong’ copper-gold mineralisation hosted by a mineralised shoot where continuous sulphide-related copper-gold mineralisation has now been intersected on multiple drill sections over 120m-150m of strike and 200m below surface.
Minerals 260 reports this system remains open down-plunge. Additionally, these results validate previous reverse circulation (RC) drilling results.
The new results come following Minerals 260’s appearance at the Resources Rising Stars conference on the Gold Coast last week (16-17 May 2023).
Key results include MRDD0013 with 21.8m @ 1.9% copper (Cu) and 0.8g/t gold (Au) from 104.2m, including 12.05m @ 2.9% Cu and 1.1g/t Au from 106m; and hole MRRC0143 with 10m @ 1.3% Cu and 0.6g/t Au from 64m, including 5m @ 2.2% Cu and 1.1g/t Au from 66m.
The company notes these results are located 50m along strike and 90m-130m up-dip of hole MRRD0088, which returned 36m @ 1% Cu and 0.4g/t Au from 194m, including 18m @ 1.6% Cu and 0.8g/t Au from 194m.
With drilling at Mynt now completed, Minerals 260 announces it will move forward with follow-up drilling at the prospect following a detailed structural review of diamond core drillholes, which will assist with the optimal siting of future deeper holes designed to determine the resource potential.
The company also notes it currently holds a ‘strong’ cash position ($18.6 million at 31 March 2023), which ensures it can maintain exploration momentum both at Moora and its newly acquired Aston lithium-rare earth element (Li-REE) Project in the Gascoyne region.
The company says further work will be planned on targets at the combined Moora/Koojan Projects, including Mallory, Dwel, and Acga, where ‘highly’ anomalous precious and base metal values have been recorded.
Addressing the results, Minerals 260 Managing Director David Richards says: “Assays from Mynt continue to highlight the potential of this prospect as we continue to delineate what could be a significant zone of copper-gold mineralisation.
These latest results, combined with assays from other prospects, mean we have no shortage of exciting targets to follow up across both our Moora and Koojan Projects.
“These latest results, combined with assays from other prospects, mean we have no shortage of exciting targets to follow up across both our Moora and Koojan Projects.”
While we are at the start of the cropping season, we are planning follow-up activities which we hope to undertake in the coming months.
Meanwhile, we look forward to getting the initial results from our brand-new Aston Lithium-REE Project in the Gascoyne Province, where field activities have recently commenced.”
Minerals 260 is an ASX-listed company created to contain the non-lithium assets of Liontown Resources (ASX:LTR), which include the Moora and Koojan projects in the Julimar Mineral Province of southwest Western Australia.
The company’s Moora project is situated about 150km north of Perth and forms part of a contiguous 1,000km-square land package that comprises the adjacent Koojan joint venture (JV) between Minerals 260 and Lachlan Star (ASX:LSA). Minerals 260 has earned an initial 30% equity in the JV, with the right to increase this to 51%.
Write to Adam Drought at Mining.com.au
Images: Minerals 260 Ltd
