Clancy Exploration (ASX: CLY) has received encouraging high-grade copper and gold results from the Trundle Park prospect in New South Wales, following the completion of initial reverse circulation (RC) drilling in January.
Eight of the ten holes returned significant gold/copper and/or silver results including:
- 2 metres at 20g/t gold, 6.97% copper and 81g/t silver from 64m; - 42m at 0.45g/t gold from 32m including 6m at 0.99g/t Gold from 38m.
Drilling also intersected broad intervals of copper-gold skarn with 58m at 0.44g/t gold, 0.17% copper from 22m, including 4m at 1.19g/t gold and 0.41% copper from 28m.
Two styles of copper-gold mineralisation have now been now defined. The epithermal vein intersected is 75m south of some old workings.
Gordon Barnes, managing director, said "we were puzzled by what the old timers actually mined because the skarn mineralisation would have been too low grade for them."
"We think they probably mined a high grade vein and we may have drilled the southern strike of that vein, which opens up some scope for further higher grade material because the vein is open at depth and along strike. We will be following this up with further drilling soon."
Clancy acquired 100% of the Trundle project via transactions with Calibre Mining (CVE: CXB) and Western Plains Resources in 2009. There is a combined 2% NSR payable to third parties on the Trundle project.
The project consists of two tenements and is located in the Macquarie Arc 25km west of Northparkes.
