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- DevEx Resources (DEV) shares are trading in the red after the company reported subdued assays from its Junee Copper-Gold Project in New South Wales
- The results are from the company’s maiden air-core drilling programme at the Nangus Road Prospect which sought to test a one-kilometre-long copper-gold soil anomaly
- DevEx affirms the results indicate a trend of anomalous copper-gold mineralisation which indicates characteristics of a mineralised copper-gold system
- Notable assays include 50 metres at 116 parts per billion gold, 397 parts per million copper from 16 metres, including four metres at 502 parts per billion, or 0.5g/t Au, gold
- DevEx Resources shares are down 15.9 per cent trading at 34.5 cents
DevEx Resources (DEV) shares are trading in the red after the company reported subdued assays from its Junee Copper-Gold Project in New South Wales.
The results are from a maiden air-core drilling campaign the company’s 100 per cent owned project in Nangus Road Prospect, which sought to test a one-kilometre-long copper-gold soil anomaly.
DevEx affirms the results indicate a coherent trend of anomalous copper-gold mineralisation on several traverses, indicating the characteristics of a mineralised porphyry copper gold system.
Notable results include 50 metres at 116 parts per billion gold, 397 parts per million copper from 16 metres, including four metres at 502 parts per billion, or 0.5g/t, gold and 34 metres at 111 parts per billion gold, 337 parts per million copper including four metres at 515 parts per billion, or 0.5g/t, gold.
DevEx has commenced a reverse circulation drilling programme on the back of the results, which is to be followed by in-fill drilling over the coming months.
DevEx Managing Director Brendan Bradley noted the finds are from early-stage exploration and mark a step towards testing the potential of the Nangus Road.
“These assays indicate that there is consistent copper-gold mineralisation over a wide area and supports the potential for a fertile porphyry copper-gold system,” he commented.
DevEx Resources shares are down 15.9 per cent trading at 34.5 cents at 11:52 am AEST.
