Altona Mining (ASX: AOH) looks to have a new cluster of copper-gold discoveries on its hands at its Cloncurry copper project in Queensland following excellent drill results for a 30-hole RC drilling program.
The drilling programme – undertaken around 25-30 kilometres south of its proposed Little Eva mine development – in late 2017 tested new copper-gold in soil anomalies at the Companion, Veiled and Quamby prospects.
Results at Companion include 32 metres at 1.48% copper, 0.98g/t gold, 15 metres at 1.44% copper, 0.84g/t gold and 35 metres at 1.33% copper, 0.23g/t gold.
At Veiled, results include 74 metres at 0.53% copper, 0.23g/t gold, 24 metres at 0.84% copper, 0.22g/t gold and 25 metres at 0.68% copper, 0.10g/t gold.
Meanwhile, Quamby results include 13 metres at 0.61% copper, 4.23g/t gold including 2 metres at 23.55g/t gold, 60 metres at 0.44% copper, 0.05g/t gold and 25 metres at 0.52% copper, 0.07g/t gold.
The prospects add to an emerging cluster of copper-gold discoveries – including the Hobby and Reaper prospects – south of the proposed Little Eva mine development at Cloncurry.
The drilling – shallow and reconnaissance in nature – intersected both oxide and sulphide mineralisation. The results also included higher gold grades compared to the deposits included in the mine plan for the Little Eva development.
High silver values at Quamby and high cobalt values at Veiled were also recorded.
The tenor of mineralisation is excellent with the highest individual assays at Companion of 11.2%, 9.3% and 8.7% copper equivalent; at Veiled 3.0%, 2.4% and 2.3% copper equivalent and at Quamby 27.1g/t and 20g/t gold.
At Companion, the mineralised system has potential to be large with soil anomalism defined over an area of 0.6 by 3 kilometres, drilling is widely spaced over only 1.2 kilometres of strike.
The company says there are many more targets that remain poorly tested or untested.
Shares in Altona remain unchanged at 13.5c in afternoon trade.