Native Mineral Resources Holdings Limited (ASX: NMR) has been granted the rights to explore tenement EPM28038 near its existing Palmerville Copper project in North Queensland, Australia.
Preliminary work conducted by NMR has identified significant exploration potential within EPM28038, which contains a well-defined sulphide-bearing, intrusion-related breccia pipe.
The previously reported mineralisation and metal zoning found at the Maneater Breccia shares many similarities with the upper part of the >1Moz Au Mt Wright (breccia pipe) gold deposit, indicating a deposit may exist at depth, below the current limits of drilling.
Drilling will be used to test the inferred zone of mineralisation below the current shallow level of drilling.
“NMR is delighted to have secured this tenement and expanded its footprint in what is a highly sought-after exploration address,” Managing Director, Blake Cannavo, said.
“Our technical team has been busy building a comprehensive geological model of all existing results from the Maneater Breccia pipe and we are now extremely excited to be able to plan a second deeper hole into this breccia pipe target.
“The sulphide assemblage is very similar to the upper low-grade zone above other breccia pipes in north Queensland therefore NMR will drill a steeper and deeper hole to test for copper and gold mineralisation at depth.
“The fact that previous exploration has indicated that mineralisation appears to become more prevalent at depth is highly encouraging and we are eager to test the depth extent of this mineralisation.
“We have a very active exploration strategy mapped out for the 2022 field season in North Queensland, and we look forward to providing further updates as we advance our work across several encouraging copper targets.”
Drilling Campaign
NMR has been progressing data compilation and modelling work in order to build an accurate 3D model of existing data. This information is being used to plan a steeper and deeper diamond drill hole aimed at testing the opportunity for higher grades of base metals, gold, and silver below the current depth of drilling.
The company will specifically target zone identified from existing geochemistry that previous drilling failed to test effectively. Further updates on the Maneater exploration strategy and commencement of drilling will be provided in due course.
For further information please visit: https://nmresources.com.au/
