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Dundas firing on two fronts

13 February 2023 09:18
ASX: DUN

Dundas Minerals are firing on two fronts, completing another diamond hole at the Central exploration target and firing up RC drilling over Matilda South as it moves on making nickel, copper and gold discoveries in the highly prospective southern Albany-Fraser Orogen of Western Australia.

It marks the next stage of exploration on two prospects with noted potential backed by Exploration Incentive Scheme co-funding from the Western Australian Government.

Dundas will only be paying half for a minimum of four deep holes at Matilda South, spinning up to test a large gravity anomaly identified in January last year and interpreted as due to intrusive mafic or ultramafic rock types within a large magnetic low anomaly.

And at Central, co-funded hole six successfully intersected the centre of a very low resistivity audiomagnetotellurics model anomaly, while assay of hole three returned significant percentages of both carbon and total graphitic carbon and hole five revealed an interval of gold and copper mineralisation.

Along with the North East prospect, it makes a trio of Dundas target areas in the region, all with an exploration model for magmatic sulphide mineralisation associated with a mafic/ultramafic intrusion akin to the Nova-Bollinger deposit which produced 26,675 tonnes of nickel, 11,483 of copper and 982 of cobalt in the 2022 financial year and rests just 125 kilometres from the Central targets.

Drilling at Matilda South is expected to wrap up in March while results from hole six at Central is anticipated six to eight weeks after submission.

DUN’s Australian Stock Exchange-listed share price is currently trading at 16c (9.03 am UTC+ 8 hours).

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