Bottletree drill holes highlight further porphyry potential

23 April 2024 8:51 AM | 28 Pages

New drilling results confirm continuity of porphyry Cu-Au-Mo mineralization at Bottletree and highlight porphyry potential in the southwest.

Summary

  • Drill holes BTDD011 and BTDD012 confirmed mineralization continuity in the Discovery Outcrop zone at Bottletree.
  • BTDD013 drilling targeted an area southwest of previous drilling, intersecting low grade Cu-Au mineralization, suggesting a buried porphyry intrusion.
  • A $300,000 grant from the Queensland Government supports drilling to target the modelled porphyry core.
  • The drilling program and results support the potential existence of a significant porphyry Cu-Au-Mo system.

Highlights

  • BTDD011: 463m @ 0.15% Cu, 0.02g/t Au, 9ppm Mo.
  • BTDD012: 433m @ 0.13% Cu, 0.01g/t Au, 2ppm Mo.
  • BTDD013: 332m @ 0.06% Cu, 0.01g/t Au, 31ppm Mo.
  • $300,000 grant awarded for further drilling.

Positives

  • Confirmed mineralization continuity.
  • Identified potential for significant porphyry Cu-Au-Mo system.
  • Financial support from Queensland Government for further exploration.

Negatives

  • Lower grades of mineralization in the broad widths.
  • Further drilling required to fully understand the mineralization system.

Key Dates

  • 23 April 2024: Announcement date.
  • 8 April 2024: Date of Queensland Government grant announcement.

Alerts

  • Contains better than expected results: no
  • Contains worse than expected results: no
  • Contains expected results: yes
  • Sentiment: positive