Subscribe
Be the first with the news that moves the market- Odin Metals (ODM) gets further high-grade copper results from the Grasmere trend
- Earlier this year, Odin drilled 12 holes at the Grasmere trend in NSW as part of its plan to upgrade the historical MRE of 5.75 million tonnes at 1.03 per cent copper
- The results showed grades of up to 3.85 per cent copper and 0.85 per cent zinc and confirmed the presence of high-grade copper zones within the existing resource area
- The mineralised system also remains open in multiple directions and further drilling and field activities are planned
- Odin Metals shares have ended the day trading steady at 1.7 cents
Odin Metals (ODM) has announced further high-grade copper results from the Grasmere trend.
Grasmere is one of multiple copper mineralised trends within the company’s flagship Koonenberry project in New South Wales.
The company completed 11 reverse circulation (RC) holes and re-entered one existing drill hole (GS0007) in February.
This drilling was part of a broader program to target an expanded mineral resource estimate (MRE), the continuity of higher-grade zones of mineralisation to lift the MRE grade, and to increase confidence of the resource with infill drilling.
Grasmere has a historical JORC 2004 MRE of 5.75 million tonnes at 1.03 per cent copper, which exists in a series of lodes that cover roughly 3.3 kilometres of strike within the broader VMS trend that extends for 22 kilometres.
Notably, the recent drilling confirmed the presence of high-grade copper zones within the existing resource area and showed the mineralised system is open in multiple directions.
Assays include nine metres at 2.01 per cent copper and 0.85 per cent zinc from 79 metres, including seven metres at 2.39 per cent copper and 1.01 per cent zinc.
Existing hole GS0007 also returned high grades including up to 3.85 per cent copper and 0.77 per cent zinc over four metres.
To complement drilling, Odin began an electromagnetic (EM) survey focused on the known mineralised strike extent that hosts the Grasmere MRE.
The company now plans to begin a new drilling program in June.
Odin Metals shares ended the day trading steady at 1.7 cents.
