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- Native Mineral Resources (NMR) begins drilling at the Maneater prospect in Northern Queensland
- The company is drilling a single 700-metre hole to test the potential for gold and copper mineralisation deeper than the currently known silver and base metal system
- Historical drilling uncovered the sulphide-bearing breccia pipe, a mineralised system with values of 9330 ppm zinc, 3100 ppm lead, 864 ppm arsenic and 1810 ppm copper
- The company expects to release updates on the program within the next few weeks
- NMR shares are down 7.69 per cent to trade at 12 cents at 11:56 am AEDT
Native Mineral Resources (NMR) has begun drilling at its Maneater target in Northern Queensland.
The company plans to drill a single diamond hole down to a 700-metre depth into the core of the polymetallic sulphide-bearing breccia pipe that’s known as “Maneater Hill” or “Maneater Peak”.
Drilling will test the deeper parts of the known silver and base metal mineralised system that was identified in previous shallow drilling.
This previous drilling was conducted in the mid-1990s and returned results of 9330 parts per million (ppm) zinc, 3100 ppm lead, 864 ppm arsenic, 1810 ppm copper, 15.8 ppm silver and 0.02 ppm gold.
Managing Director Blake Cannavo said he’s delighted to be starting drilling at the Maneater prospect to target potential gold and copper mineralisation.
“The breccia pipe has already been drilled in 1995 with the historical drilling revealing some tell-tale signs of it being similar to the Mt Wright deposit located near Ravenswood, North Queensland,” Mr Cannavo said.
The company expects to release updates on the program within the next few weeks.
NMR shares were down 7.69 per cent to trade at 12 cents at 11:56 am AEDT.
