Minerals260 (ASX:MI6) has begun a dipole-dipole induced polarisation (DDIP) geophysical survey at its wholly owned Moora Project in Western Australia.
The $79.56 million market capitalisation company says the survey comprises 7 lines totalling 12km of DDIP and has been designed to detect and/or extend possible sulphide-related mineralisation beneath multi-element anomalism at the Angepena, Dwel, and Mynt prospects.
Previous drilling undertaken at both the Mynt and Angepena prospects has highlighted ‘high-grade’ copper and gold mineralisation up to 1.9% copper and 1.8 grams per tonne (g/t) gold.
The current survey follows a prior DDIP survey completed in late July at the Mallory prospect — part of its Koojan joint venture (JV) Project — which defined several coincident chargeable and conductive structures proximal to copper-gold-silver-cobalt anomalism in previous drilling.
The company notes these structures are interpreted to be caused by possible sulphide-associated mineralisation and will be assessed during the next phase of drilling.
Minerals 260 Managing Director Luke McFadyen says results from upcoming drilling are touted to pave the way for the next wave of newsflow from both the company’s Moora and Koojan projects.
“With drilling expected to commence in December and continue into 2024, the company eagerly awaits the results from this program which we expect will mark the start of the next wave of news flow for the Moora and Koojan projects.”
“With drilling expected to commence in December and continue into 2024, the company eagerly awaits the results from this program…”
Minerals260 is based in Perth, Western Australia, and was created to contain the non-lithium assets of Liontown Resources (ASX:LTR), inclusive of the Moora and Koojan projects in the Julimar province.
The Moora project forms part of a contiguous 1,000km-sqaure land package that includes the adjacent Koojan JV Project, where the company is in a current JV alongside Lachlan Star (ASX:LSA) and has earned an initial 30% equity with the right to increase to 51%.
As of 30 September 2023, Minerals260 had $15.453 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Minerals 260