Syndicated Metals intersects deeper copper-gold at Queensland project Monday, December 09, 2013 by Proactive Investors
Syndicated Metals' (ASX: SMD) shares will look to firm at the open after intersecting deeper copper-gold of up to 20 metres at 1.48% copper from 115 metres that highlights a potential northern expansion of the open pit at its Barbara Project in Queensland.
Assays from 19 of the 41 infill reverse circulation holes also confirm the high grade nature of the Resource in the Southern Shoot with drilling continuing to expand the known areas of mineralisation.
Step-out drilling to the north and south of the currently defined open pit are continuing with further results expected over the coming weeks.
The drilling program is designed to infill and upgrade the current Resource of 5.3 million tonnes grading 1.4% copper and 0.1ppm gold at Barbara.
It also tests for zones of high-grade mineralisation that potentially extend outside of the existing mineralisation boundaries.
Results have so far indicated that the Fault Gap area may be underlain by a significant body of copper mineralisation, which plunges more shallowly south, than previously interpreted.
This corresponds to the near-surface, high grade mineralisation previously drilled at the northern end of the Barbara deposit and the upper DHEM plate modelled from down-hole EM surveys conducted in late 2012.
Drilling below the Fault Gap area is continuing along drilling to extend north.
The Barbara Project is an equal joint venture with Queensland copper producer CopperChem, which is funding the Feasibility Study for its development as part of its earn-in requirements to the joint venture.
Ends.
SMD Price at posting:
4.8¢ Sentiment: None Disclosure: Held
