Cockie Creek is the one being drilled very soon - this week it is supposed to commence. Bottletree drilling will commence late July (see page 7 just above the 3 bullet points at the bottom).
CC has me excited again about SPQ. Read this:
PORPHYRY Cu-Au-Mo TARGET AT COCKIE
Cockie Creek is characterised by a tabular zone of disseminated copper-gold-molybdenum mineralisation that crops out at surface and extends for over 1.2 kilometres in strike length with a true width of up to 60 metres. The mineralisation shows good continuity and has only been drilled to shallow depths (Figures 2 to 5).
Directly beneath the mineralisation lies a strong IP chargeability anomaly that has not been adequately drilled. Recent geophysical modelling indicates that a second chargeability anomaly lies to the west of and parallel to the main anomaly. The western anomaly has not previously been drilled.
The main target at Cockie Creek is one or more deeper porphyry cores that are likely to be the source of the copper mineralisation. The mineralisation identified by the historic drilling potentially represents leakage into the wall rocks of a nearby mineralised porphyry system.
As appears to be the case at Bottletree, the likely wall rock-hosted mineralisation at Cockie Creek represents a potentially significant outcropping copper resource. Copper grades are relatively high in porphyry deposit terms (Table 1), with historic results indicating increasing grades at depth. In addition, a significant zone of gold (3m @ 9.0 g/t Au from 80m) in historic hole CRC003 was returned just short of the western chargeable zone.
Now relate this information to Figures 2, 3, 4, 5, and 6 and Table 1. You should then get the picture as to why PW says this on page 2 and 3:
We believe there is no better way to start the program off with Cockie Creek, which historically hasn’t seen any comprehensive drill targeting of the large-system potential that is clearly evident at the prospect. Consistent with our overall focus, our primary objective at Cockie is to discover a large, mineralised porphyry system directly beneath the copper-gold mineralisation that has been partially identified at surface. Historic drill intersections of up to 95 metres @ 0.5% copper and 3 metres @ 9.0 g/t gold exist within the near-surface mineralisation, including an inferred Resource estimate of 13Mt @ 0.42% copper under the 2004 JORC Code. In particular, the drill results indicate that copper grades are improving at depth.
SPQ Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
