DevEx Resources (ASX: DEV) has commenced a diamond drilling programme to test beneath historical near-surface copper intercepts at the company’s 100%- owned Bogong Copper-Gold Project in New South Wales.
The company’s managing director, Brendan Bradley, said the kick-off of drilling coincides with the receipt of results from a maiden dipole-dipole Induced Polarisation (IP) survey in the same area which has revealed a significant chargeability IP anomaly beneath these historical intercepts.
The IP Survey focused on the Bogong copper-gold prospect, where historical percussion drilling by A.O.G. Minerals Pty Ltd in 1974 identified significant near-surface copper sulphide mineralisation.
Mapping and rock chip sampling recently undertaken by DevEx confirmed the presence of significant copper sulphides (chalcopyrite and bornite) at surface, returning individual values of up to 10% copper and 0.47g/t gold with mineralisation extending over 500 metres of strike.
Mr Bradley said the strong copper sulphide association with a porphyry diorite intrusion justified the prompt commencement of the IP survey in advance of planned diamond drilling.
The first two diamond holes are designed to test both the near- surface copper mineralisation adjacent to the historical Bogong copper workings, and the deeper IP chargeability anomaly as a priority.
The company plans to drill approximately five holes for 1,000 metres into several targets within the main area of workings.
The Bogong Copper-Gold Project is located within the Lachlan Fold Belt of NSW, a major geological province which hosts the world-class copper deposits Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd).