Norfolk Metals (ASX:NFL) has reported the final assay results from phase one of its maiden drill campaign from the Carmen Copper Project in the Atacama Region of Northern Chile.
The full drilling campaign totalled 37 reverse circulation holes drilled across 3,401m. The latest results confirm the presence of higher grade primary copper sulfide mineralisation within the Carmen main area, which remains open at depth.
Key highlights from the drilling intercepts include 32m @ 1.3% copper from 97m, including 9m @ 2.2% copper from 99m, 4m @ 1.8% copper from 113m, 2m @ 1.9% copper from 119m, and 3m @ 2.1% copper from 125m.
Sampling conducted on the Higueritas Belt returned rock chip assays of up to 1.4% copper at surface.
The second phase of the diamond drill program is planned following the completion of additional field mapping, rock chip surface sampling and trenching, and the interpretation of complete reverse circulation results and historic assays.
The company has received firm commitments for a $2.1 million placement via the company’s capacity under ASX listing rules 7.1 and 7.1A from resource investors, plus an additional $100,000 from directors, subject to shareholder approval.
Approximately 1,000m of historical drilled core displaying mineralisation has been quarter-cut and submitted for assay analysis. Results are expected in the coming weeks and will assist the company with reporting a JORC compliant resource in the future.
Norfolk Metals is advancing the Carmen Copper Project in Chile, currently focusing on the maiden drilling campaign.
Write to Amy Rotman at Mining.com.au
Images: Norfolk Metals
