- DevEx Resources’ (DEV) upgrades the potential of the Nangus Road prospect within its Junee Copper-Gold Project in New South Wales
- Aircore and reverse circulation drilling at the prospect identified high-grade copper-gold and extended the bedrock anomaly to two kilometres of strike
- Additionally, an induced polarisation survey discovered multiple strong chargeability highs beneath the Nangus Road copper-gold bedrock anomaly
- DevEx plans to follow up on these findings with 10,000 metres of aircore drilling and up to 6000 metres of reverse circulation and diamond drilling
- Company shares are up 3.39 per cent to trade at 30.5 cents at 11:08 am AEST
DevEx Resources (DEV) has received encouraging results from the Nangus Road prospect which is part of its Junee Copper-Gold Project in New South Wales.
The latest results come from aircore and reverse circulation (RC) drilling, as well as a first-pass dipole-dipole induced polarisation (IP) geophysical survey.
Earlier this year, DevEx completed aircore drilling on the northern margin of the prospect which identified broadly anomalous and coincident copper-gold bedrock mineralisation. Recent analysis of one-metre samples returned grades including 3.5 grams of gold per tonne (g/t) and 1410 parts per million (ppm) copper.
These anomalous copper-gold bedrock results are supported by other anomalous pathfinder elements, such as molybdenum, bismuth, selenium and tellurium, which are consistent with porphyry copper-gold systems.
After the aircore drilling, DevEx drilled six broad-spaced RC holes to test the main magnetic anomaly further to the south.
All holes encountered altered monzonite and intersected anomalous gold mineralisation with grades of up to 284 parts per billion. As a result, the bedrock gold-copper anomaly has been extended to around two kilometres of strike.
Additionally, the IP survey identified multiple strong chargeability highs beneath the Nangus Road copper-gold bedrock anomaly.
Managing Director, Brendan Bradley, was encouraged by the exploration results.
“The new assays and underlying geophysical anomalies have enhanced what is now a solid exploration target within the heartland of Australia’s porphyry copper gold region and we look forward to the next stage of exploration drilling,” he said.
Moving forward, DevEx plans to undertake 10,000 metres of aircore drilling at the main copper-gold anomaly which will be followed by 3500 metres of RC drilling. After that step, 2500 metres of RC and diamond drilling will test the IP chargeability highs underlying the copper-gold mineralisation.
Company shares are up 3.39 per cent to trade at 30.5 cents at 11:08 am AEST.