- Minerals 260 (MI6) reports “encouraging” geological observations from recent drilling at the Mynt prospect within its Moora project in Western Australia
- Following the observations, the company now plans to drill more holes to further test the mineralisation
- The company will conduct drilling at the Acga prospect, part of Moora, to follow up on platinum group element (PGE) anomalies defined nearby
- At the Koojan project, held in a joint venture with Lachlan Star (LSA), drilling intersected a “highly anomalous” zone, with a review to be undertaken once results are received
- MI6 shares are trading at 34 cents at midday AEDT
Minerals 260 (MI6) has reported “encouraging” geological observations from recent drilling at the Mynt prospect within its Moora project in Western Australia.
The company began a reverse circulation (RC) drilling program in November last year to test 26 targets, including one which previously intersected 24 metres at 1.9 per cent copper and 0.7 grams per tonne (g/t) gold.
The RC drilling also acted as an initial follow-up program to one completed at Mynt in early 2022.
While assays are pending for most holes, the company has found “significant” sulphide mineralisation in several RC holes completed at Mynt.
Based on the initial findings, Minerals 260 plans to drill a further nine RC holes and four diamond holes at the Mynt prospect to assess the continuity, orientation and extent of the known mineralisation. It will also undertake geophysical and survey work to optimise the holes.
In addition, the company has received results for 24 holes at the Acga platinum group element (PGE) prospect within the Moora project, as well as several targets at the Koojan joint venture (JV) project.
Assays from Acga include three metres at 0.33 g/t PGE from 134 metres and four metres at 0.15 g/t PGE from 55 metres.
The company said while there was no surface anomalism coincident with the Acga mineralisation, several PGE anomalies had been defined nearby to be tested in upcoming drilling.
On the Koojan JV, held with Lachlan Star (LSA), drilling at the Mallory prospect intersected a “highly anomalous” zone grading 16 metres at 54 parts per billion gold.
Drilling will continue across both the Moora and Koojan projects with between 4500 and 5000 metres planned.
MI6 shares were trading at 34 cents at midday AEDT.