Mt Isa Metals Limited (ASX:MET) - Drilling resumes at Barbara Copper Prospect
Mt Isa Metals Limited (ASX:MET) is pleased to announce that a second and expanded phase of exploration drilling has commenced at the Barbara Copper Prospect, locateda approximately 50km north-east of Mt Isa.
The current program is to comprise up to 21 reverse circulation drill holes which will test the North Lode structure over a strike length in excess of 400 metres and to an average depth of less than 150 vertical metres from surface.
The drill program is designed to follow up significant sulphide intersections received from first phase drilling completed earlier in the year which included:
8 metres at 3.7% Cu and 0.27g/t Au from 32 metres (in BARC19), and 5 metres at 2.2% Cu from 43 metres (in BARC18) Drilling is to be focussed immediately below a pronounced surface gossan which includes a number of shallow historical workings.
In addition to the ‘near surface' drilling a deeper reverse circulation drill hole is also planned to provide an initial test of a significant TEM geophysical conductor.
The TEM conductor (at approximately 250 metres depth) was identified by a geophysical survey completed in early 2009 and may indicate the presence of a structurally controlled accumulation of copper sulphides down-plunge from the recent encouraging phase one drilling results.
The Barbara Project (tenement EPM 16112) is held in joint venture between Mt Isa Metals Limited (49%) and Syndicated Metals Limited (51% manager).
It is anticipated that the current phase of drilling will be completed by mid-October with assay results thereafter.
MET Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
