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- Cobre (CBE) has received further high-grade volcanic-hosted massive sulphide (VHMS) results from the Schwabe prospect
- The Schwabe prospect is part of the Perrinvale VHMS Project which is located in WA
- Schwabe returned high-grade intercepts of copper, zinc, cobalt, lead, gold and silver
- Cobre also intersected mineralisation at various other prospects within the Perrinvale Project
- Final assay results are expected in the next two weeks and down-hole electromagnetic surveys are now underway
- Company shares have dropped a slight 2.56 per cent to trade for 19 cents
Cobre (CBE) has received further high-grade volcanic-hosted massive sulphide (VHMS) results from the Schwabe prospect.
The Schwabe prospect is part of the Perrinvale VHMS Project which is located in Western Australia.
Cobre recently completed 2883 metres of reverse circulation (RC) and 2086 metres of diamond core (DC) drilling at Perrinvale to extend current VHMS mineralisation and test new VHMS targets.
Schwabe
The company aimed to generate mineralised core samples for metallurgical testing, expand on previously drilled massive sulphide mineralisation and step-out drilling to test for mineralisation at depth and along strike.
Recent high-grade intercepts include 12 metres at 2.9 per cent copper, one per cent zinc, 0.05 per cent cobalt, 192 parts per million (ppm) lead, 0.7g/t gold, 10.2g/t silver from 45 metres, including four metres at 8.3 per cent copper, 2.9 zinc, 0.12 per cent cobalt, 555ppm lead, 2g/t gold and 29.8g/t silver.
Step-out drilling showed that VHMS mineralisation extends along strike for 500 metres. The copper and zinc mineralisation is associated with narrow interflow sediments between the mafic pile.
Importantly, a single deep DC hole intersected vein halo and disseminated mineralisation 200 metres down dip from the high-grade massive sulphides drilled near the surface. Assays are yet to be received.
“The continued high-grade VHMS results at Schwabe are encouraging to see. In addition, we are pleased to have identified other VHMS potential in the area, which validates our strategy to unlock the full potential of the 381-square-kilometre Perrinvale Project,” Executive Chairman and Managing Director Martin Holland said.
Zinco Lago, Zinco Rame and Lago Rame
A total of six DC and two RC holes were drilled at Zinco Lago, Zinco Rame and Lago Rame. Assays have been received for four DC holes and both RC holes.
Drilling has confirmed the continuity of mineralisation along trend at all three prospects. Drilling and mapping has also suggested an increase from around 2.5 kilometres to 3.8 kilometres of the prospective stratigraphy in this location.
The company will now focus on identifying where higher concentrations of base metal sulphides may be situated.
Further drill targets
Cobre also completed RC drilling at the Ponchiera Copper, Ponchiera North, Costa del Islas and Poega del West prospects. Out of these, Pochiera North was the only prospect that didn’t return some level of mineralisation.
Next steps
Remaining assays from the drilling program are expected in the next two weeks. A down-hole electromagnetic survey is expected to be completed within the next week and the results will be incorporated into existing data to assess further drilling targets.
Company shares have dropped a slight 2.56 per cent to trade for 19 cents each at 3:19 pm AEST.
