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C29 Metals Nears Completion of Drilling Preparation at Mayfield Copper-Gold Project

21 November 2023 13:11
ASX: C29

C29 Metals (ASX:C29) is gearing up for its maiden Reverse Circulation (RC) drilling program at the Mayfield Copper-Gold Project, announcing it is completing the final stages of preparation for the 3000 metre program.

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Figure 1: Mayfield Location plan, highlighting previous local production centres and named prospects.

Proactive Engagement

The Mayfield Copper-Gold Project is strategically located 25 kilometres south of Carnaby Resources (ASX:CNB), in the esteemed Mt Isa Inlier, a world-class mining region capturing attention of many exploration companies.

C29 Metals recently completed a heritage survey in collaboration with the Yulluna people, the recognised Native Title right holders in the area, marking a pivotal step forward as it inches closer to drill ready status.

The survey cleared all proposed drilling areas, except for two holes near Pilgrim Creek, prompting a program revision to test a portion of the chargeable corridor with Hole MFRC006.

The IP target remains open to the south, and additional IP lines are planned to identify drill-accessible targets away from Pilgrim Creek.

Operational Expertise

Simultaneously, the Company secured Conduct and Compensation Agreements (CCA’s) with the owners of Mayfield and Stradbroke pastoral stations for proposed collar locations, with the agreements enabling drilling activities on the stations.

Experienced Associated Exploration Drilling, based in Townsville, has been contracted for the reverse circulation drilling program with a capacity to drill to depths of 600 metres. The drill is currently in Cloncurry, awaiting final mobilisation alongside other equipment, as final preparations for drill site access are underway this week.

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Figure 2: The Mayfield Project area, with proposed RC drill collars. Positions of previously planned holes 4 & 5 proximal to Pilgrim Creek within Trekelano South denoted by circles with no colour.

Anticipated Commencement

With the puzzle pieces falling into place, C29 anticipates commencing the RC drilling program at the Mayfield Copper-Gold Project by the end of November.

The envisaging campaign is anticipated to last two to three weeks, targeting eight holes, to a cumulative depth of up to 3000 metres.

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Figure 3: The Mayfield Project area, in relation to local tenure holders and current Project resources, highlighting regional Copper endowment.

Company Comments

C29 Metals’ Executive Director Jeremy King commented on the progress made toward commencing the campaign.

“The heritage clearance survey with the Yulluna people has been completed, station owner access agreements have been executed and we have contracted Townsville based AE Drilling to undertake the work,” he said.

“The team are very excited to be closing in on the start date for what could be a transformational drill programme for C29 at Mayfield.”

C29’s Australian Stock Exchange-listed is currently selling at 7.5c (1.00pm UTC+ 8 hours).

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