Mineral explorer Terrain Minerals (ASX:TMX) has submitted tenement applications for about 2,500km-square of ‘highly prospective’ ground adjacent to and along strike of the Cracow Gold Mine in Queensland, Australia.
The company says this extensive tenement application package includes at least 2 known historic copper mines, alongside multiple copper and gold targets first uncovered by Rio Tinto (ASX:RIO), Gold Field (NYSE:GFI), and Newcrest Mining (ASX:NCM).
Terrain’s internal geological team has discovered 7 potential copper and gold sites at its wholly owned Biloela Project
Terrain’s internal geological team has discovered 7 potential copper and gold sites at its wholly owned Biloela Project. The company says it is estimated to take about 6 months until applications are granted, and a heritage agreement will also need to be established.
The 7 potential sites include the Prospect Park, Mari, Lookerbie, Drumburle, Wild Scotsman, Oaky Creek, and Auburn areas.
The company says the sites were uncovered as part of a ‘comprehensive’ and independent prospectivity study of existing geological and geophysical datasets by external consultants commissioned by Terrain.
At Prospect Park, 8 rockchip samples were collected and returned values up to 2.33g/t Au and 9.23% Cu. No further exploration work has been reported over this target since initial copper and gold results were reported by Newcrest in 2004.
The target is situated with Terrain’s tenement EPM28047 and is located within an amygdaloidal flow of the Camboon Volcanic.
Mari is situated within Terrain’s tenement EPM28720, where secondary copper mineralisation has been previously reported. Lockerbie is situated within tenement EPM28721, and its sulphide system is a pyrite-rich mineral system with the potential for primary copper sulphide mineralisation.
Drumburle is an abandoned copper mine initially discovered by CRA (now Rio Tinto). No systematic exploration has been conducted across Drumburle since its initial discovery.
Wild Scotsman is located within tenement EPM28717 and is located within the Camboon Volcanic units. Oaky Creek is situated within tenements EPM28047 and EPM28050, and 3 rockchip samples from the target have returned values up to 2.15% Cu.
Meanwhile, Auburn is situated within Terrain’s tenement EPM28049. An analysis of 97 samples in 2011 revealed copper values up to 0.45% and maximum gold values up to 3.2 parts per million (ppm).
Terrain Minerals is an ASX-listed company with a Western Australia-based asset portfolio that consists of the Lort River, Smokebush, and Wild Viper Projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Terrain Minerals Ltd