Polymetals Resources (ASX:POL) has identified new targets at its Endeavor Mine in New South Wales after consolidating half a century’s worth of electronic mine and exploration data.
According to Polymetals, about 402,000m of drilling has been completed over more than 50 years, 90% of which has been concentrated on just the Endeavor ore body.
The $44.92 million market capitalisation company says the targets have been identified on 1,107km-square of tenements, within 30km-square of mining leases, 5km of the existing processing facility, and 100m south of the main orebody.
The targets have been flagged ahead of a phase two drilling program at Carkpark for next month (February 2024). Drilling is expected to comprise reverse circulation (RC) holes with potential diamond tails.
Drilling is also expected to occur at the C1 to C4 copper targets to further define the extent of ‘significant’ copper anomalism once drilling at Carpark is complete.
Executive Chairman Dave Sproule says the company’s work over the past 18 months is starting to bear fruit as it continues to work to expand the Endeavor Project.
“The board is particularly pleased to see our three-pronged in-mine, near mine and regional exploration strategy evolve. Work completed by the team over the past 18 months is now bearing fruit and if successful, the potential near-term and significant growth that may be realised from the existing mining and exploration leases will be very exciting.
Receipt of the recently reprocessed geophysical models reinforces our confidence that the Endeavor silver-zinc-lead project presents a valuable and long-term future for the company, its shareholders, and the Cobar region.”
Write to Adam Drought at Mining.com.au
Images: Polymetals Resources
