02/03/2021 - 16:04

Comet survey set to firm up NSW base metal drill targets

02/03/2021 - 16:04

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ASX-listed base metals and gold explorer, Comet Resources is set to launch an aeromagnetic survey at its Barraba copper project in north-east NSW following recently completed initial geochemical soil and rock chip sampling work that yielded high-grade base metal values. The Perth-based company is hoping to ultimately generate a solid set of targets for a first round of drilling.

ASX-listed base metals and gold explorer, Comet Resources is set to launch an aeromagnetic survey at its Barraba copper project in north-east NSW following recently completed initial geochemical soil and rock chip sampling work that yielded high-grade base metal values. The Perth-based company is hoping to ultimately generate a solid set of targets for a first round of drilling.

It has secured the services of Airborne Geo Exploration or “AirGeoX”, who will put its unmanned aerial vehicle, or “UAV” drone technology through its paces to gather the high-definition geophysical data.

Comet says the data collected from the UAV survey will turn up geological structures across the project area that may have been previously missed. Mitre Geophysics has been engaged to oversee the program and interpret the results, which will be used to refine targets for the next stage of exploration at Barraba involving follow-up geophysics and maiden drilling.

Earlier this year the company registered high-grade base metal hits in old mine workings and outcrop samples taken from the historic Murchison copper mine site at Barraba in the New England Fold Belt province. The assay results included up to 4.6 per cent copper, up to 4.0 per cent zinc and up to 0.7 per cent cobalt.

According to Comet, the presence of visible copper mineralisation is widespread around the Murchison mine.

Historical records indicate the old mine hosted a volcanogenic massive sulphide, or “VMS”-style deposit – the same as found at the nearby old Gulf Creek copper mine, also within the company’s 2,375-hectare fertile exploration tenement holdings.

Murchison copper was produced in the early 1900s from ore estimated to have delivered an average grade of 3 per cent copper.

Comet explains these VMS-style deposits often occur in clusters as was the case with the ancient Murchison, Gulf Creek and Four Mile Lode mines in the region.

Comet Resources Managing Director, Matthew O’Kane said: “It is pleasing to acquire the specialist skills of AirGeoX and Mitre Geophysics as we pursue the encouraging results received from the recent initial exploration program at the historic Murchison copper mine, where high-grade copper in rocks and soils were detected.”

Management says results from the aeromagnetic survey, which is expected to kick off this month and last about four or five days, will go towards planning further exploration including follow-up ground-based geophysics and drilling.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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