Altona Mining Ltd looks to unlock copper, gold potential at Roseby South
Date
9/28/2016 2:34:06 AM
(MENAFN- ProactiveInvestors - Australia)
Altona
mining Ltd (ASX:AOH) has started a drilling program at the Roseby South copper-gold project near Mt Isa in Queensland.
The reverse circulation drilling program will consist of 15 to 25 holes for 2,500 metres of drilling at the Harvest, Hobby and Reaper prospects.
Large copper-in-soil anomalies greater than 1,000ppm (0.1% copper) have been defined at all of these prospects in the past.
Outcrop and float rock samples returned up to 14.4% copper and 0.74 g/t
Gold at Harvest; 23.3% copper and 2.9 g/t
gold at Hobby; and, 0.8% copper and 1.54 g/t gold at Reaper.
No previous drilling has been undertaken at Hobby and Reaper, whereas reconnaissance drilling at Harvest by past explorers returned significant mineralised intersections.
The drilling program is expected to be completed by early November 2016 with costs estimated at circa $250,000.
The Roseby South project immediately adjoins the southern boundary of Altona";s Cloncurry Project.
The Cloncurry Project is the subject of a US$235.5 million proposed joint venture with Sichuan Railway Investment Group.
The project encompasses the Little Eva deposit which has 546,000 tonnes of contained copper and 295,000 ounces of gold.
The definite feasibility study for Little Eva was completed in 2014, with proposed annual production of 38,800 tonnes of copper and 17,200 ounces of gold for a minimum of 11 years. <
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