As things continue to heat up at the explorer’s flagship lithium project, C29 Metals is continuing to develop its expanded portfolio, with an Induced Polarisation Survey having commenced at its 100 per cent owned Mayfield Copper-Gold Project in Queensland’s renowned Mt Isa region.
Surveying Gold-Copper Ground
The survey will target a number of high-quality gravity and magnetics targets identified in February by combining the results of an extensive ground gravity survey undertaken last year with 3d magnetic mapping data of the Project uncovering nine new prospects.
The targets will be subjected to 46.7 line km of dipole-dipole-induced polarisation survey work with a line spacing of 400 metres to assist in the identification of sulphide and silicic zones with the potential for mineralisation, which will be critical to the planning and design of the Projects upcoming drilling campaign set for quarter three of this year.
C29 are re-partnering with Australian Geophysical Services for the IP survey, who recently completed a similar survey at C29’s Sampson Tank Project in New South Wales which was also undertaken with the aim of improving and refining drill targets.
An Emerging Region
So far, exploration at Mayfield has been consistent with other exploration programs in the Cloncurry district, where the Project is located.
The gravity anomalies uncovered in the most recent survey are one of the most common features of the broad range of lucrative deposit types in the region renowned for its Iron Ore-Copper-Gold deposits, with C29 itself resting just 25 kilometres south of $170-million-plus market cap Carnaby Resources’ flagship project.
The Company said it expects the survey to be completed in approximately four weeks, with a further two weeks required to process and present the data.
“We are excited at the opportunity that Mayfield presents. Historically, it is tenure that has not benefited from modern exploration but it clearly sits within a region that is significantly endowed with base metals and gold. This IP programme, combined with the recently completed gravity survey, are key steps to developing high-quality copper-gold drill targets and potentially unlocking significant value,” Executive Director Jeremy King said.
C29’s Australian Stock Exchange-listed is currently selling at 10.5c (11.43 am UTC+ 8 hours).