Market Herald logo


Be the first with the news that moves the market
  • Recent geological compilation at the Junee copper-gold project has enhanced the potential to discover a large-scale copper-gold porphyry
  • Several areas of copper, gold and base mineralisation was identified
  • Follow-up induced polarisation geophysics is scheduled for Q4 2019 and results will be used to prioritise drill targets

Recent geological compilation at DevEx Resources’ Junee copper-gold project has enhanced the potential to discover a large-scale copper-gold porphyry.

Collection of surface mapping, rock chip sampling and petrology (study of rocks) has identified several areas of copper, gold and base mineralisation. This is interpreted to be associated with the porphyry copper-gold type alteration.

Anomalous rock-chip results ranging up to 2.81g/t gold and 1.26 per cent copper are partially associated with epidote-actinolite alteration/veins. It also includes a gossanous (oxidised rock) base metal vein and several breccias.

This alteration style is interpreted to be part of an inner-propylitic alteration halo which typically surrounds the inner core of a large porphyry copper-gold systems.

The mapping and rock-chip sampling was designed to further investigate several high priority porphyry copper-gold targets at Nangus Road, Riversdale and Billabong Creek.

At Riversdale North epidote veins, some containing oxidise copper sulphides, are commonly seen within the immediate to magic volcanics with anomalous rock chips.

The rock chips ranged from 0.1 to 1.3 per cent copper and had a small gossanous sub-crop with significant gold, 2.81g/t gold, copper, 0.4 per cent copper and other base metals, and 1.3 per cent lead.

At Billabong Creek, mapping on several previously identified occurrences of quartz monzonite identified partially oxidised chalcopyrite and rock chips ranging from 0.2 to 0.5 per cent copper.

Although its not extensive on surface, the source of copper within the breccia is interpreted to support the potential for a buried porphyry system at depth.

With the majority of these targets masked by shallow transported sediments, between one to 20 metres, DevEx has focused on areas where the Junawarra Volcanics are exposed at surface.

This has therefore maximised the amount of information to further target testing using ground geophysics and drilling.

DevEx is currently reviewing all the results with several nearby geophysical targets identified beneath transported cover at the Nangus Road, Billabong Creek and Riversdale prospects.

Planning has begun for a program of targeted ground geophysics over several of these prospects.

In conjunction with this activity, DevEx is continuing to actively progress landowner engagement with the purpose of entering into Rural Land Access Agreements over these, and other, prospects.

Not relating to this announcement and any activities outlined, DevEx is currently preparing a program of ground induced polarisation geophysics and further regional mapping later this month.

Further updates on all programs will be provided in due course.

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

" BBX Minerals (ASX:BBX) encounters further mineralisation at Tabocal, Brazil

BBX Minerals (ASX:BBX) has received assays from hole TED-002 at the Tabocal prospect within the Três…
The Market Herald Video

" Petratherm (ASX:PTR) wins bid for Muckanippie REE project, SA

Petratherm (ASX:PTR) has been successful through a competitive bid process to be the preferred application for…
The Market Herald Video

" Arcadia Minerals (ASX:AM7) advances testwork at Bitterwasser, Namibia

Arcadia Minerals (ASX:AM7) has announced "positive" cyclone and leach testwork results from the Bitterwasser project in…
The Market Herald Video

" R3D Resources (ASX:R3D) to recommence Zeehan zinc slag/matte exports

R3D Resources (ASX:R3D) has been granted permits to recommence exports from its Zeehan zinc slag/matte project…