Develop Global (ASX:DVP) - Managing Director, Bill Beament
Managing Director, Bill Beament
MD at Sulphur Springs. Source: Bill Beament/LinkedIn
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  • Develop Global (DVP) expects a “significant” upgrade to the resource estimate of its Sulphur Springs copper-zinc-silver project following better-than-expected drilling results
  • The company last year drilled 68 holes as part of an infill resource drilling program at the Pilbara-based project
  • This work intersected thick and high-grade mineralisation the company labelled “exceptional” and extended the known mineralisation at the project
  • The results will feed into a resource update scheduled for the September quarter and will also guide drill target generation for follow-up drilling
  • Develop Global shares last traded at $2.22 on May 13

Develop Global (DVP) is expecting a “significant” upgrade to the resource estimate of its Sulphur Springs copper-zinc-silver project following better-than-expected recent drilling results.

Last year, the company drilled 68 holes as part of an infill resource drilling program at the Pilbara-based project.

Through drilling of the down-plunge portion of the Eastern Lens zone, Develop hit consistent zones of thick and high-grade mineralisation, exceeding its current interpretation and expectations.

Results from this area peaked at 50 metres at 2.9 per cent copper equivalent from 284 metres downhole.

Meanwhile, drilling at the Western Lens struck a new zone of thick, high-grade hangingwall-hosted zinc and silver mineralisation, which Develop said was open down-plunge and down-dip.

Top results from this area included 23 metres at 5.2 per cent copper equivalent from 244 metres downhole.

Develop said it was now planning future drilling to target extensions to this zone at depth.

The company has also received assay results from diamond drillhole tails which targeted high-grade copper within the inferred resources of the proposed open pit.

This work intersected high grades of copper, zinc, silver and gold, with a top result of 65 metres at 3.5 per cent copper equivalent.

Exploration drilling at the Main Fault target has continued to intersect high-grade mineralisation which the company said it believed highlighted the prospectivity of the area’s feeder structures.

The Sulphur Spring resource currently stands at 13.8 megatons at 2.8 per cent copper equivalent. Of this resource estimate, 9.4 megatons are in the ‘indicated’ category.

The latest results will feed into a resource update scheduled for the September quarter.

Given the high grades, Develop Managing Director Bill Beament said the company expected the recent drilling work to have a “substantial” impact on the mineral resource update.

“We expected this drilling to generate strong results, but these are even better than anticipated,” Mr Beament said.

“The grades are exceptional, and they occur over extensive widths.

“We are also identifying new zones of the extremely high-grade zinc-rich hangingwall mineralisation, which shows the potential to continue growing this outstanding deposit.”

The company plans to also use the drilling results to guide the delineation of additional drilling targets for further resource expansion.

Develop Global shares last traded at $2.22 on May 13.

DVP by the numbers
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