ASX-listed exploration company Rubix Resources (ASX:RB6) is investigating ‘encouraging’ copper anomalism, which it says suggests the potential for sediment-hosted copper mineralisation at its Paperbark Project in Queensland.
The company reports that copper anomalies coincident with state-wide surface and stream sediment geochemistry are associated with northeast trending faults and magnetic basement features. The evidence indicates the potential of a sediment-hosted copper system similar to those discovered to the southeast and throughout the Mount Isa Inlier.
Rubix says there are ‘favourable’ structural settings linked with north-east trending faults in its project area which potentially have tapped into a previously unrecognised sediment-hosted copper system.
Copper anomalism is at or above the 95th percentile in state-wide datasets, associated with north-east trending structures including faults and their second-order splays, as well as north-east trending basement highs which are visible in the magnetic data.
Rubix reports these basement highs and faults are visible in magnetic data due to the dissemination of highly magnetic stratigraphy at depth.
As a result of the new copper target, several other targets have been identified in the project area including, the Fox, Paradise East, and Tasman targets.
As a result of the new copper target, several other targets have been identified in the project area including, the Fox, Paradise East, and Tasman targets
Rubix states the company’s next steps are to complete a program of soil and/or stream sediment geochemistry over the proposed target areas. Additionally, if the geochemistry results are positive, Rubix will look to drill test these anomalies.
Rubix also intends to undertake detailed mapping, geochemical sampling, geophysical surveys, drilling, downhole geophysics, and metallurgical testing at the Paperbark project.
Rubix Resources has a diversified base metal and gold asset portfolio providing opportunities for new discoveries in proven districts. The company’s assets comprise 12 exploration licences across 5 projects located in Northern Queensland and Western Australia.
The Paperbark project consists of one exploration permit (EPM14309), encompassing an area of 75km-square near the Gulf of Carpentaria in Northwest Queensland.
Images: Rubix Resources Ltd
