Mount Isa Inlier – Greater Duchess Copper Gold Project
Greater Duchess Copper Gold Project (82.5-100%)
The Greater Duchess Copper Gold Project lies approximately 70km to the south of Mount Isa on a land holding of approximately 1921 km2, with multiple undeveloped copper rich Iron Oxide Copper Gold (IOCG) and epigenetic ‘Tick Hill’ style gold targets over a 100 km corridor.
The Mount Hope, Nil Desperandum, and Lady Fanny major discoveries are standout prospects within the Project, where broad high-grade copper mineralisation has been intersected at all three locations. The tenement package also includes the historical Duchess Copper-Gold Mine which produced approximately 205,000 t at 12.5% copper from 1900-1940 as well as numerous shallow IOCG deposits in a camp scale setting.
Other individual prospects within the project include Mount Birnie, Duchess, Big Beauty, Freckle and numerous other target areas of shallow historical workings, large soil anomalies and undrilled outcropping mineralisation.
The maiden interim Mineral Resource Estimate for the Greater Duchess Project consists of five mineral deposits for 21Mt at 1.3% Cu, 0.2 g/t Au for 283kt Cu, 148koz, or 1.4% CuEq for 315kt CuEq. Potential pathways to production are currently being explored. The Project is centrally located in a mining friendly jurisdiction and is surrounded by third party processing facilities and world class infrastructure including rail, road, gas pipeline and a highly experienced and mine ready workforce with abundant contract mining and haulage operators in the Mount Isa region.
The Company’s current exploration efforts have been centred around the following three prospects, which cornerstone the interim maiden Mineral Resource Estimate.
Mount Hope Discovery (100%) – 10.3Mt for 1.7% CuEq
Drilling conducted by the Company at the Mount Hope Central and North Prospects have revealed significant mineralisation beneath both the Mount Hope North and Central historical open pits. Standout results include:
Mount Hope Central:
- MHRC029 – 100m @ 2.0% copper, 0.3 g/t gold from 91m
including 60m @ 3.1% copper, 0.4 g/t gold from 107m - MHDD176 – 116m @ 2.1% Cu, 0.3 g/t Au from 287m
Including 61m @ 3.3% Cu, 0.6 g/t Au from 323m - MHDD083 – 83m @ 2.4% copper, 0.3 g/t gold from 528m
Including 36m @ 4.2% copper, 0.5 g/t gold from 545m - MHDD045 – 39m @ 5.2% copper, 0.5 g/t from 158m
Including 19m @ 8.1% copper, 0.8 g/t gold from 161m
Mount Hope North:
- MHRC025 – 75m @ 1.7% copper, 0.2 g/t gold from 221m
including 53m @ 1.9% copper, 0.2 g/t gold from 221m
Extensive IP surveys conducted at Mount Hope have defined a very large and extremely strong chargeability anomaly, the source of which is yet to be identified. Drilling at the Mount Hope Discovery is ongoing as the known mineralisation remains open in all directions and the deposit is rapidly growing.
Nil Desperandum Discovery (82.5%) – 4.3Mt for 1.4% CuEq
The Nil Desperandum Prospect is a significant copper-gold deposit in the Mount Isa district where multiple RC and diamond drilling programs have defined a greater than 500m plunging high-grade mineralisation shoot, completely open at depth and to the southwest.
Stand out results from Nil Desperandum include:
- NLDD044 – 41m @ 4.1% copper, 0.5 g/t gold from 247m
including 24m @ 6.5% copper, 0.7 g/t gold from 251m
including 9m @ 10.3% copper, 1.2 g/t gold from 264m - NLDD084 – 31m @ 3.9% copper, 1.0 g/t gold from 313m
Including 24m @ 5.0% copper, 1.3 g/t gold from 313m
Including 12m @ 8.1% copper, 2.2 g/t gold from 322m - NLDD086 – 33M @ 4.0% copper, 0.5 g/t gold from 264m
Including 27m @ 5.0% copper, 0.6 g/t gold from 271m
Including 18m @ 6.7% copper, 0.8 g/t golf from 274m - NLRC027 – 60m @ 1.0% copper from 139m
including 23m @ 1.7% copper, 0.4 g/t gold from 152m
including 7m @ 2.4% copper, 0.3 g/t gold from 161m - NLRC017 – 87m @ 0.9% copper from 190m
including 56m @ 1.1% copper from 221m
including 30m @ 1.8% copper, 0.3 g/t gold from 242m
IP survey results have outlined a significant chargeability anomalies to the southwest of NLDD044, producing numerous follow-up targets.
Lady Fanny Discovery (82.5-100%) – 3.1Mt for 1.5% CuEq
Exploration activities at the Lady Fanny Prospect, located 3km north of Nil Desperandum, has yielded stunning results including:
- LFRC120 – 68m @ 2.4% copper, 0.4 g/t gold from 40m
including 42m @ 3.6% copper, 0.5 g/t gold from 63m
including 9m @ 7.8% copper, 1.5 g/t gold from 63m - LFRC129 – 32m @ 2.6% copper, 0.6 g/t gold from 69m
including 17m @ 3.7% copper, 1.1 g/t gold from 79m - LFRC009 – 27m @ 2.8% copper, 0.8 g/t gold from 61m
including 9m @ 4% copper from 65m - LFRC212 27m @ 1.2% Cu, 0.2 g/t Au from 39m
Including 5m @ 4.7% Cu, 0.4 g/t Au from 52m
And 23m @ 3.3% Cu, 0.2g/t Au from 150m
Including 13m @ 5.3% Cu, 0.3g/t Au from 152m - LFRC019 – 22m @ 2.4% copper, 0.5 g/t gold from 44m
including 10m @ 3.7% copper from 48m - LFRC013 – 20m @ 2.3% copper, 0.5 g/t gold from 30m
including 6m @ 5.5% copper from 38m
Extensive IP surveys conducted at Lady Fanny have defined significant chargeability anomalies, which now suggests that the mineralised corridor at the prospect is greater than 600m in length.
Devoncourt Project (Carnaby Earning 51%)
The Company is currently farming-in to the Rio Tinto Exploration Pty Ltd owned Devoncourt Project, located closely to the East of the Company’s existing Greater Duchess mineral deposits. The project adds a high-quality advanced exploration target and greatly expands the land position of the Greater Duchess Copper Gold Project.
The Devoncourt Project encompasses 838 km2 of exploration tenure covering the Wimberu granite which has an elliptical aerial extent of approximately 30km x 30km. The Wimberu granite is concentrically zoned grading from more mafic granodiorite rim to more felsic compositions towards the core and belongs to the Williams-Naraku super suite of oxidised, I-type granitoids (ca 1520-1490 Ma) which is thought to be an important source of Cu-bearing fluids in deposits such as Ernest Henry, Selwyn and Mount Elliot and most likely the Greater Duchess deposits as well. The Wimberu granite is considered to be a potential source of iron ore copper gold (IOCG) mineralised fluids and also a potential host of such mineralisation within the differentiated granite plutons.
