Source: C29 Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • C29 Metals (C29) commences a geochemical survey over the P-47 and P-54 exploration targets at its Sampson Tank project in NSW
  • Data review of historical work shows areas for immediate follow-up targeting high-grade deformed and remobilised ‘Besshi-type’ volcanic associated massive sulphides (VAMS)
  • The company has recognised the prospective stratigraphy extending further north beneath alluvial cover on C29 licence
  • C29 plans to complete the current soil geochemical survey to extend and infill historical areas and reaffirm and define the full extent of the geochemical anomalism
  • Shares have ended the day trading flat at 18 cents

C29 Metals (C29) has commenced a geochemical survey over the P-47 and P-54 exploration targets at its Sampson Tank project in New South Wales.

The company said a data review of historical work showed areas for immediate follow up including a 1200-metre by 350-metre copper-gold-cobalt anomaly at P-47 and an 800-metre by 600-metre anomaly at P-54.

It plans to target high-grade deformed and remobilised ‘Besshi-type’ volcanic associated massive sulphide (VAMS) copper-gold deposits.

Additionally, multiple targets have been generated with open extensions and regional opportunities.

The company has recognised the prospective stratigraphy extending further north between alluvial cover on C29 license. Furthermore previous exploration was being directed towards tin, tungsten and platinum with only the very recent exploration looking at moderate to high grade copper-gold deposits.

The company also plans to expand a soil program to uncover copper-gold anomalies over the two historically identified prospects.

C29 plans to complete the current soil geochemical survey to extend and infill historical areas and reaffirm and define the full extent of geochemical anomalism. This will be followed by a heliborne survey in February 2022.

Shares were trading flat at 18 cents at market close.

C29 by the numbers
More From The Market Herald
The Market Herald Video

" Askari Metals (ASX:AS2) acquires Barrow Creek Lithium project after raising $2.6m

Askari Metals (ASX:AS2) has acquired the Northern Territory Barrow Creek Lithium project after completing a $2.6…
Agrimin (ASX:AMN) - CEO, Mark Savich

" Agrimin (ASX:AMN) announces $7m cap raise

Following a trading halt earlier in the week, fertiliser development company Agrimin (ASX:AMN) has announced plans…

" Race Oncology (ASX:RAC) reports $1.8m in cash outflows

Race Oncology (ASX:RAC) reports $1.8 million in cash outflows