Western Australian prospector Metalicity (ASX:MCT) has confirmed the presence of anomalous copper at its exploration license applications in the Fraser Range, the region which is home to nickel-copper giants such as the Nova-Bollinger mine and the Silver Knight deposit.
The copper discovery has been identified following re-analysis of core which was drilled at Metalicity’s project areas during the 1980’s, with copper results of up to 0.04%.
The re-analysesd copper finding gives the company a sniff of the Fraser Range’s potential, with the company looking to further its exploration work upon the granting of tenements.
The reanalysed historic drilling was targeting Olympic Dam-style copper deposits, rather than the Fraser Range’s unique nickel-copper sulphide structures.
No modern exploration has been conducted on the project areas following the historic drilling.
Metalicity general manager for exploration and development, Jason Livingstone said:
“It is incredibly pleasing to see that our resampling programme has defined anomalous copper along with 3D magnetic inversion techniques highlighting large, highly magnetic susceptible bodies indicating the presence of host units containing possible Cu-Ni sulphide mineralisation.
“The two Project areas have demonstrated exceptional prospectivity. We are excited to see the grant of these tenements so we may implement the ground geophysical surveys to allow for succinct drill hole planning.”
The Company has also completed geophysical modelling, at its Fraser Range North project, to progress the potential identification of drilling targets.
The modelling highlighted has shown that the two historic drill holes did not adequately test the gravity or the magnetic anomalies, offering the potential for rapid project development.