Bindi Metals Limited (ASX: BIM) has confirmed gold and copper mineralization over one km of strike at Flanagan’s with assays from the Biloela Project in Queensland with encouraging new assay results.
The Biloela Copper Gold Project is located in the highly prospective New England Belt and is located 40km west of the Mt Cannindah Project and 100 km north of Evolution Mining’s Mt Rawdon Mine.
The RC drill programme at the Biloela Project included 20 reverse circulation (RC) holes for 2,375m of drilling in late 2022. The programme targeted outcropping vein hosted mineralization at Flanagan’s and Great Blackall.
“We are highly encouraged by the large-scale potential of the new intrusion-related target as well as the high-grade intersections in the near-surface vein hosted targets in our maiden drill program. We look forward to testing the new targets soon,” Executive Director, Henry Renou, said.
RC Drilling Results
Flanagan’s Prospect
Drilling intersected extensive gold and copper mineralisation for over 1km of >0.1 g/t Au in quartz veins in shallow drilling
Grades of up to 6.0g/t Au, 22.9g/t Ag and 3.8% Cu at Flanagan’s
Mineralization is open in all directions
Vein textures indicated mesothermal type of quartz vein system
Selected results from drilling at Flanagan’s include:
2.0 mc @3.0g/t Au, 2.0% Cu, 3.7g/t Ag from 21m including 1m @6g/t Au, 3.5% Cu, 6.9g/t Ag in BIM011 and
1.0m @5.1 g.t Au, 0.2 % Cu, 1.7g/t Ag from 96m also in BIM011
2m @2.3g/t Au, 0.3% Cu, 3.1g/t Ag from 15m including 1m @4.6 g/t Au,
0.1% Cu, 5.8g/t Ag in BIM016
4m @0.3g/t Au, 1.1% Cu, 6.0g/t Ag from 9.0m including 1m @1.2 g/t Au,
3.9% Cu, 22.9g/t Ag in BIM010 Great Blackall Trend
Drilling at Great Blackall extended the known areas of mineralisation to 500m that is open along strike and down dip
Selected results from drilling at Great Blackall include:
9.0m @0.2g/t Au, 0.4% Cu, 3 g/t Ag from 28m including 2m@ 0.5g.t Au, 1.2%
Cu, 9g/t Ag, 0.1% W New Targeting Work
The rationale of the new targeting work focuses on three geological parameters typical of worldwide examples of large, intrusive-related copper-gold deposits. These are:
Alumbrera are characterised by very large magnetite-pyrite haloes.
2. Downhole Sr/Y vs Y Ratios: since these are important fertility index indicators (high Sr/Y is fertile) again for large intrusion related systems for example the world-class copper-gold Los Pelambres deposit in Chile and El Indio gold deposit both in Chile
3. Soil Geochemistry Ti/Li Ratios: since these ratios are also commonly used as important alteration index indicators for large the world-class deposits such as the giant El Teniente copper deposit in Chile.
3D Inversion: A magnetic inversion model has now been completed on the drone magnetics data collected previously. The results highlight a very large 1050 long x 850 wide magnetic body
The review applied the same Ti/Li ratio on soil geochemistry at Biloela with the following results:
A prominent bullseye Ti/Li anomaly is situated over highly anomalous copper in soils and is coincident with a modelled magnetic high anomaly
The anomaly indicates this is a potential zone for an intrusive-related type of mineralisation and remains untested by drilling
Next Steps
Plan drilling for testing the porphyry type drill target
Undertake several lines of deep penetrating dipole-diploe IP survey to constrain drill
target
Undertake mapping programmes in the upcoming field season on regional targets
Continue to review drill data and surface geochemistry for drill targets
For further information please visit: https://www.bindimetals.com.au/
