Conto Resources defines compelling new copper-zinc targets at Udu in Fiji Tuesday, September 17, 2013 by Proactive Investors
Conto is presently earning into 100% of the Udu Project via a deal that will merge Conto with Dateline Resources, the current owner of the Udu Project.
Conto Resources (ASX:CNO) will open significantly higher after detecting a number of robust new copper-zinc target zones at its Udu project in Fiji, via a three dimensional induced polarisation survey.
The new zones are near to the existing open pit as well as locally in the region, and deliver potential to upgrade the existing resource.
The 3D-IP survey has highlighted several areas of immediate interest for disseminated sulphides to be followed with a drilling program to commence in the December quarter 2013.
High priority targets include Nagasauva where a circular feature 700 metres in diameter may represent a porphyry body at depth, and Mikeles Ridge which hosts two significant IP anomalies, one under ignimbrite cover which may fall along existing mineralised trend, and another associated with an outcropping gossan and anomalous copper in soil geochemistry.
Conto is presently earning into 100% of the Udu Project via a deal that will merge Conto with Dateline Resources, the current owner of the Udu Project.
The merger is subject to Conto gaining confidence in the exploration upside of the project, which has been bolstered with the identification of these new targets.
The Udu deposit is a hybrid VMS system located in Fiji with an existing JORC Inferred Resource of 4.5 million tonnes at 1.2% copper, 3.9% zinc, 29 grams per tonne silver and 0.3 grams per tonne gold.
Conto and Dateline have already identified a number of high-grade intersections within or near to the historical open pit, which present further targets for future drilling.
Conto is currently capitalised at $1.3 million, offering potential upside from positive exploration results.
