First pass strikes copper for Lynas Gold

Perth-based Lynas Gold NL has intersected strongly anomalous copper in a first pass reverse circulation drilling program at the Blue Rose prospect within the Olary project.

Lynas has a 75 per cent interest in the Olary project, in joint venture with Mawson Gold NL, over several exploration licences located 100 kilometres west of Broken Hill, near the South Australia/New South Wales border.

The project area of some 3,000 square kilometres comprises four exploration licences covering the western edge of the Curnamona Craton and the Nackara Arc sector of the northeast Adelaide Geosyncline.

This area is considered highly prospective for copper-gold mineralisation of the Olympic Dam and Ernest Henry intrusive styles, and lies immediately adjacent to the White Dam project of MIM/Aberfoyle/Normandy, where significant gold-copper drilling intersections have been announced.

According to Lynas managing director Les Emery, the 1,659 metre RC drilling program in eighteen holes has substantially enhanced the potential of the prospect to host major copper (gold-molybdenum) mineralisation.

“The extensive alteration, over the drill-tested two square kilometre area, is indicative of a large intrusive-hydrothermal system,” Mr Emery said.

“The system lies under shallow (typically 10-20m) alluvial cover, and is a ‘blind’ deposit.

“Significant copper mineralisation has been intersected in this limited drilling phase and, importantly, is located fringing the central pyritic core, with drill hole BRRC-18 (the most mineralised at 88m at 0.39 per cent copper, plus enhanced gold and molybdenum) lying furthest away from the intrusive centre,” he said.

“Given the spatial zonation observed, further drilling along this easterly sector could be expected to intersect increasingly substantial mineralisation.”

In addition, the south-eastern sector of the project area is viewed as strongly prospective for porphyry and skarn-style, copper-gold mineralisation, related to high level Cambro-Ordovician intrusives.

Previous reconnaissance RAB/aircore drilling at the Blue Rose prospect had identified significant widespread gold-copper/molybdenum mineralisation beneath shallow transported cover.

Meanwhile, the company’s Parabur-doo gold project – in the Ashburton mineral field of the Pilbara – has continued to performbetter than expected.

To the beginning of April a total of 177,188 tonnes of ore was milled for the production of 10,674 ounces of gold – a mill recovery of 94.3 per cent.

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