High-grade JORC Inferred Resource at Cangai Copper Mine Exceeds Expectations
Exceptional high-grade maiden JORC Inferred Resource at unmined working sections in Cangai Copper Mine: 3.2Mt @ 3.35% Cu implying c.108,000 tonnes of contained copper
On a metal equivalent basis, across key base/precious metals, the results are: CuEq – 4.2%, ZnEq – 9.3%, CoEq – 0.5%, AuEq – 6.9g/t, and AgEq – 503.9g/t
Maiden JORC Resource at Cangai is amongst the highest grade Copper JORC resources in Australia
Resource size for Jackaderry Project set to increase substantially with incremental historic assay results and inaugural drilling campaign
The drilling program, which is slated to commence relatively soon, will target additional supergene ore mineralisation as 3D JORC modelling has confirmed is open in all directions
CCZ has a key competitive advantage and a clear point of difference with supergene ore, as it should be suitable for direct shipping ore, that can be easily transported to Newcastle port via excellent infrastructure already in place
3D JORC modelling highlights the potential to develop an open pit mine, keeping extraction costs moderate, that is potentially targeting one of Australia’s highest-grade copper-zinc-cobalt resources
Re-assaying legacy Cangai Copper Mine core samples for cobalt is progressing – this builds in further exploration upside and potential NPV outcome
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