minebox bulletin

Redbank drilling confirms new sulphide zone




Redbank Mines Ltd plans to accelerate test drilling of a new broad zone of disseminated copper sulphide at one of the key copper deposits at its wholly-owned Redbank Copper Project in the Northern Territory, following RC drilling results which indicate the zone extends from near surface to below 290m in depth.

The latest results from drilling of the Punchbowl deposit include the following intercepts from adjacent holes: 65m at 1.0% copper from 19m and 22m at 1.4% copper from 50m.

The drill hole producing the 65m intercept was terminated in mineralisation with the last 13m assaying 1.5% copper. These results are consistent with a nearby 1975 diamond core drill hole that returned results of 120m at 1% copper from 38m and 92m at 0.9% copper from 200m.

These latest results and the 1975 drill hole intercepts indicate the copper sulphide mineralised zone at Punchbowl is broad and remarkably consistent in grade to a depth below 290m.

The Perth-based copper producer will now test, as a priority, both the depth and lateral extent of the newly identified disseminated copper sulphide zone at Punchbowl.

“The confirmation of significant disseminated sulphide mineralisation at Punchbowl is extremely encouraging,” Redbank’s managing director Gino Vitale said. “The results complement the excellent grades and consistent mineralisation we also encountered at the Bluff deposit during this program, but our priority now is to test this significant new copper sulphide zone at Punchbowl.”

Redbank is yet to receive results from the final two holes drilled at Bluff during the December-January program, but interim results include 25m at 1.0% copper from surface, 34m at 1.18% copper from surface including 7m at 2.17% copper, 44m at 1.51% copper from 80m including 8m at 2.73% copper and 3m at 3.41% copper, 57m at 2.06 % copper from 11m including 25m at 3.26% copper from 29m, and 37m at 0.96% copper from 73m.

- 09 Feb 2007