Norfolk Metals (ASX.NFL) has intersected further native 100% copper in its third hole at the Roger River Project in Tasmania.
The company reports discrete zones of native copper was intersected from 102-137.8m, 159.2-182m, and 212.4-263m downhole depth in silica + carbonated veins, fine-grained basalt and fractured surfaces.
Norfolk Metals says importantly, this third hole was drilled some 3km away from the successful first hole of the maiden drill program, further along the prospective Roger River fault splay.
The company’s share price had skyrocketed 21.43% to $0.170 as of 7.30am AWST on the back of the announcement.
Addressing the results, Norfolk Metals Executive Chairman, Ben Phillips says: “It is very pleasing to see more visual copper at our third drill hole in similar host rock to the first hole. It is worth noting these holes are approximately 3km apart along the same interpreted fault splay from the main Roger River Fault structure.
“It is very pleasing to see more visual copper at our third drill hole in similar host rock to the first hole”
We are currently waiting for the copper screen analysis from the first hole. As we continue to investigate the occurrences of the copper mineralisation, we may revert to additional geochemistry and geophysical exploration techniques prior to drilling our next target.
In addition, we will commence our regional exploration on the recently granted EL17/2021 (235km2) focussing initially on the known copper and gold occurrences.”
Norfolk Metals is an ASX listed exploration company holding the Roger River Project and the Orroroo Uranium Project.
The Roger River Project comprises 2 granted exploration licences, EL20/2020, and EL17/2021, which together cover 261km-square, located 410km northwest of the capital city of Hobart, Tasmania. The project is prospective for gold and copper as indicated by the intense silicification, argillisation, and diatreme breccias in close proximity to the Roger River Fault along with carbonate-rich host rocks.
Write to Adam Orlando at Mining.com.au
Images: Norfolk Metals Ltd
