10/01/2022 - 14:46

Drill rig on site to test ‘bulls-eye’ anomaly for West Cobar

10/01/2022 - 14:46

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West Cobar Metals has mobilised a diamond drill rig to its Mount Jack copper-gold project in New South Wales with an initial 500 metre hole planned to test a bullseye ‘Cobar style’ anomaly. Historical drilling in the area showed geochemical indications of copper and gold mineralisation in the cover rocks but failed to reach the modelled magnetic target interpreted to sit at approximately 200m depth.

Drill rig on site to test ‘bulls-eye’ anomaly for West Cobar
Interpreted cross section through West Cobar’s Mount Jack prospect showing planned diamond drill holes. Credit: File

West Cobar Metals has mobilised a diamond drill rig to its Mount Jack copper-gold project in northwest New South Wales with an initial 500 metre hole planned to test a bullseye ‘Cobar style’ anomaly. Historical drilling in the area showed geochemical indications of copper and gold mineralisation in the cover rocks but failed to reach the modelled magnetic target interpreted to sit at approximately 200m depth. The Mount Jack project is located approximately 220 kilometres west-northwest of the base metals and gold mining town of Cobar in New South Wales.

West Cobar plans to drill out an aeromagnetic bulls-eye anomaly that was previously confirmed by past explorers through ground magnetic surveying. The historic data has recently been remodelled for West Cobar by industry-leading geophysical surveying company, Southern Geoscience. Results from remodelling show three sub-parallel magnetic lenses sitting at about 200m depth that dip approximately 55 degrees towards the south-southwest.

The Mount Jack prospect area is considered of particular interest due to the intersection of interpreted structures identified in regional aeromagnetic imagery that the company says could be acting as conduits for fluid flow and mineralisation.

A previous drillhole near the modelled geophysical target drilled in 2008 was abandoned in the cover sequence however, not before giving up some interesting geochemical traces showing one metre at 0.29 grams per tonne gold and 386 parts per million copper. The company interprets the anomalous hits to indicate a ‘leakage’ from a larger primary mineralised system below.

Primary interpretation of the geophysical anomaly at Mount Jack show similarities to ‘Cobar-Style’ mineralisation that occur in nearby deposits on the eastern edge of the Cobar basin. Nearby deposits include the CSA copper-silver mine, the Peak gold-silver-base metal mine and the Hera gold-base metal mine.

Similar Cobar style deposits in the region typically contain high grades of base and precious metals, generally with grade extending at depth.

The initial 500m diamond drill hole planned will test the bullseye style target and if successful, a second deeper diamond drill hole going to 650m depth will test the down dip potential.

The company has several other prospective projects in the West Cobar region including Cawkers Well that shows several magnetic ridges defined by geophysics with some previous anomalous gold drill hits.

Additionally recent drilling at its Bulla Park base metal project returned thick mineralised intercepts including a 33m section going 0.45 per cent copper.

West Cobar Metals’ Chief Executive Officer, David Pascoe said: “The Mount Jack Project provides a clearly defined and very exciting drill target for a Cobar- style copper-gold deposit. The first hole should be definitive and if successful we will expedite core cutting and laboratory analyses.”

“We look forward to success at Mount Jack, which, given West Cobar’s tight capital structure, should provide strong leverage to success for shareholders.”

“West Cobar’s programs will be ongoing and continue with preparations for drilling at the Cawkers Well gold prospect and advancing the Nantilla prospect (base metals and gold potential), as well as re-evaluating the major potential for copper and base metal mineralisation at Bulla Park.”

With a grab bag of prospective projects showing mineralisation similar to other mines in the nearby Cobar mining district, West Cobar will be looking forward to getting the rods spinning to see if its bullseye target is just that.

 

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

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