- R3D Resources (R3D) progresses 1600-metre drilling on the Tartana mining leases in Queensland
- So far, 1450 metres have been drilled with the third diamond hole currently in progress and drilling aims to test targets, as well as the Valentino zone and depth extensions
- Drilling has already been encouraging with an extensive mineralised zone highlighted with sulphides ranging between one and 10 per cent
- R3D is looking forward to receiving assays, particularly from the Valentino zone which has already highlighted potential for higher grades
- Company shares end the day 22.2 per cent in the green with shares at 16.5 cents each
R3D Resources (R3D) is progressing its 1600-metre drilling program on the Tartana mining leases in Queensland.
The company has completed 1450 metres so far and is currently drilling the third diamond hole. The program is aimed at testing induced polarisation (IP) targets as well as the Valentino zone and depth extensions underneath the existing pit.
It’s hoped the drilling will advance a large copper-gold project to the restart of copper sulphate production from the existing onsite plant which is currently focused on shallow copper oxide mineralisation.
Pleasingly, the initial observations of this program have been encouraging as it has confirmed geophysical IP anomalies are mapping sulphide mineralisation and an extensive mineralised zone with one to 10 per cent sulphides of predominantly pyrite and chalcopyrite.
Drilling has also intersected over 60 metres of semi-massive to disseminated mixed sulphides as well as additional intersections up to 30 metres of “more highly mineralised sulphides” east of the pit.
Managing Director Steve Bartrop said the mineralisation in the core confirmed the porphyry copper mineralisation at Tartana extends outside the pit.
“These holes have enabled broad testing of targets which support the potential for a future copper sulphide project,” Mr Bartrop said. “This includes the polymetallic mineralisation intersected below the Valentino prospect which itself is more than 400 metres east of the open pit but where mineralised zones may connect both areas.”
R3D said it was looking forward to receiving assays, particularly from the Valentino zone which has already highlighted potential for higher grades.
Company shares ended the day 22.2 per cent in the green to close at 16.5 cents.