Syndicated buoyed by copper hits

Shares in Subiaco-based explorer Syndicated Metals are higher on the back of what it describes as highly encouraging drilling results at its flagship Barbara copper-gold project in northern Queensland.

The company said the results from its 4,421 metre, 45-hole in-fill and extensional RC drilling program last month confirmed the strength of the mineralisation within the area.

The results include hits of 27m at 1.73 per cent copper and 14m at 2.17 per cent copper within the Southern Shoot section.

Syndicated said it had reached agreement with its 50/50 joint venture partner CopperChem, which is funding the project's feasibility study as part of its earn-in requirements, to resume drilling at Barbara later this month.

"Last year's drilling was extremely successful and highlighted the significant upside potential of the Barbara project," Syndicated managing director Andrew Munckton said.

"The new year will also see our maiden exploration programs begin at significant depth below Barbara which will guide our thinking around the ultimate potential for underground mining of the deposit below the Barbara open pit mine."

The results were cheered by Syndicated shareholders, with the company's stock up 27 per cent to 4.2 cents at 11:35am WST.