Power Minerals Limited’s (ASX: PNN) positive first-pass results from the maiden drilling programme at the Santa Ines Copper-Gold Project in the Salta province of north-west Argentina has confirmed the discovery potential for significant copper-gold mineralisation.
Power completed a first-pass drilling programme at the Project in May 2022, comprising five diamond core holes for a total 651.4 m. Drilling was designed to target structures and mineralisation below historical surface workings, and also a separate, un-explored shallow magnetic target.
The programme delivered positive results, highlighted by a broad zone of near-surface copper mineralisation of; 26 m at 0.60% copper from a downhole depth of 62 m in drillhole PNSI22-00526.
Drilling identified a number of structural zones with elevated copper and gold, and copper and trace gold were intersected in all targeted zones. Elevated zinc was also reported in drillholes and surface samples. Surface oxide samples of up to 8.6% Cu and 0.7 g/t Au were also returned.
“The results of our first phase of drilling at the Santa Ines Project have validated our exploration approach at the Project and have confirmed the discovery potential for a significant copper-gold system within the Project area,” Executive Director, Mena Habib, said.
“The copper-gold drilling results provide a clear direction to help assess future plans for the Project, in parallel with our core focus to rapidly advance our Argentinian lithium assets.”
Based on the positive outcomes of the initial phase of drilling, the company plans to review its geological interpretation of the Santa Ines Project along with regional geophysical datasets to identify additional iron-oxide-copper-gold (IOCG) exploration targets. This may be followed-up with geophysical surveys (ground magnetic or aeromagnetic) to define exploration targets for a potential second phase of drilling.
For further information please visit: https://www.powerminerals.com.au
