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- Fin Resources (FIN) has completed the maiden diamond drilling program at the McKenzie Springs Project, operated as a joint venture with Cazaly Resources (CAZ)
- The three-hole program at the WA project intersected semi-massive and disseminated sulphides containing visible chalcopyrite, a copper-iron sulphide mineral
- The company will conduct a downhole electromagnetic (DHEM) survey with the aim of identifying any larger concentrations of sulphides which may be nearby
- Director Jason Bontempo said the team is eagerly awaiting the DHEM and assay results and is looking forward to any subsequent exploration campaigns
- Fin Resources are up 3.23 per cent in early trade, priced at 3.2 cents
Fin Resources (FIN) has completed the maiden diamond drilling program at the McKenzie Springs Project in the north of Western Australia.
The project is operated as a joint venture with Cazaly Resources (CAZ). Fin Resources currently hold a 51 per cent interest, however, will soon increase its interest to 70 per cent having met expenditure requirements.
The three-hole program, for roughly 950 metres, tested strong high priority conductors identified in a fixed loop electromagnetic (FLEM) survey and located along 1.2 kilometres of strike.
The holes intersected semi-massive and disseminated sulphides containing visible chalcopyrite, a copper-iron sulfide mineral.
Importantly, hole FNDD002 intersected a 3.05 metre of semi-massive and foliation disseminated sulphides, primarily comprised of pyrrhotite, an iron sulphide, and visible chalcopyrite.
This intercept is thought to be responsible for the conductive anomaly at the site, revealed in the FLEM survey.
Meanwhile, hole FNDD003 intercepted a two-metre interval of foliated sedimentary granulite which had 25 per visual disseminated sulphides. This was thought to be the source of the conductive anomaly targeted by the hole.
Hole FNDD001 was not, however, interpreted as having intercepted the source of the conductive anomaly shown in the FLEM survey.
The company will conduct a downhole electromagnetic (DHEM) survey in all holes with the aim of identifying any larger concentrations of sulfides nearby and to assist in better targeting future holes.
Core from the drill holes is being transported to a Perth laboratory, where it will undergo assay testing.
Director Jason Bontempo said the team is keenly anticipating the final results from the maiden program.
“This is an exciting result from our maiden drilling program at McKenzie Springs Project, intercepting nickel-copper sulphide mineralisation within highly sheared and brecciated rocks,” Jason stated.
“We eagerly await the DHEM and assay results and look forward to subsequent exploration campaigns,” he added.
Fin Resources are up 3.23 per cent in early trade, priced at 3.2 cents at 10:29 am AEDT.
