Firestrike Resources (ASX:FIE) has received all assays results from the recent shallow core drilling at its Copper Ridge project in Utah U.S., with strong results for copper and silver.
Best results include: 10 metres at 0.55% copper including 2.5 metres at 1.09% copper.
The tenor of grade from this drilling is similar to the grade at the producing Lisbon valley Copper mine to the south of Copper Ridge.
In addition, lead and zinc are present throughout all three prosects in varying concentrations suggesting discrete metal zoning may be present thought out the 7 kilometre strike length of mineralised system.
Once all the data from the drilling has been fully assessed then the next phase of drilling can be confirmed with a larger rig enabling identification of the nature and extent of initial resources at the project.
Previous exploration data which has recently come to light suggests that other explorers may have drilled as deep as 65 metres into anomalous copper at the prospect identifying up to three mineralised zones.
Drilling encountered heavily fractured and strongly bedded ground impacting upon the drills capability to reach the planned depth.
These ground conditions also impacted upon the core quality and appears to have led to core loss within copper zones.
So the core loss may be understating the actual copper grade when compared to surface sampling and vertical sampling of the nearby cliff exposure.
Firestrike is very lightly valued at just $1 million.
