- Copper explorer Redbank Copper (RCP) has found new drill targets at its Redbank Project in the McArthur Basin, Northern Territory
- This new find follows an initial gradient array survey, which commenced on June 4
- Redbank is now planning a drilling program for the third quarter of 2021 to test these new targets
- Additionally, an airborne survey is expected to commence at the project in early July
- On the market this morning, Redbank is up 3.13 per cent and is trading at 6.6 cents per share at 1:15 pm AEST
Redbank Copper (RCP) has identified new drill targets at its Redbank Copper Project in the McArthur Basin, Northern Territory.
The new targets follow an initial gradient array induced polarisation (GAIP) survey.
Exploration work commenced on June 4 and included both GAIP surveys and a large soil sampling program. Both methods are proven for discovering disseminated copper mineralisation.
Notably, several larger linear changeability anomalies were identified east of known copper mineralisation at the Bluff deposit.
Redbank is now planning a drilling program for the third quarter of 2021 to test these new targets.
Executive Director Michael Hannington said: “We are delighted to have encountered immediate success from our 2021 exploration program at Redbank, with several exciting and unexplained
anomalies identified within close proximity to the existing Bluff copper deposit.
“Importantly, these initial results demonstrate that we have a proven exploration technique to search for copper mineralisation within our district-scale project area in the McArthur Basin and we are continuing to build a suite of high-quality targets to be tested with our maiden drill program.”
Additionally, an airborne survey is expected to commence in early July, with these further results to be reported in the due course.
“The Redbank Project continues to reveal its underlying potential and our technical team is beginning to get a glimpse into the true scale and prospectivity of our project area. Our targeted exploration program continues apace and we look forward to providing further updates on progress.”
Redbank was up 3.13 per cent, trading at 6.6 cents per share at 1:15 pm AEST.