Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Scorpion Minerals has been granted the Exploration Licence 20/931 within its Mt Mulcahy Project, WA
  • The licence contains the South Limb Pod Copper-Zinc-Cobalt-Silver-Gold VMS deposit
  • The area is home to a measured indicated and inferred resources totalling 647,000 tonnes at 2.4 per cent copper, 1.8 per cent zinc, 0.10 per cent cobalt, 20 g/t silver and 0.22 g/t gold
  • Drilling and a ground electromagnetic survey is planned

Scorpion Minerals has been granted the Exploration Licence 20/931 within its Mt Mulcahy Project in Western Australia’s Murchison Region.

The Department of Mines, Industry Regulation and Safety (DMIRS) granted the licence.

The licence contains the South Limb Pod Copper-Zinc-Cobalt-Silver-Gold VMS deposit. This deposit has measured indicated and inferred resources totalling 647,000 tonnes at 2.4 per cent copper, 1.8 per cent zinc, 0.10 per cent cobalt, 20 g/t silver and 0.22 g/t gold.

It contains 15,200 tonnes of copper, 11,800 tonnes of zinc, 600 tonnes of cobalt, 415,000 ounces of silver, and 5000 ounces of gold.

Scorpion purchased a 100 per cent interest in the Mt Mulcahy Project in June 2012. With the acquisition came two exploration licences: 20/422 and 20/764.

Becoming the sole owner of this project was a significant milestone for the company as it added further depth to its copper exploration portfolio in WA. In addition to Mt Mulcahy, Scorpion also owns the Dablo Project in Burkina Faso.

Historical drilling at the South Limb Pod returned significant intercepts including 6.8 metres at 4.9 per cent copper, 3.7 per cent zinc, 0.16 per cent cobalt, 39 g/t silver, and 0.19 g/t gold.

So far, 20 untested targets have been identified along the mineralisation strike using a combination of VTEM and soil geochemistry. The targets have have characteristics similar to the South Limb Pod and are considered prospective for VMS base metal accumulations.

Scorpion has planned exploration activity to include a ground electromagnetic (EM) survey and drilling to test extensions to South Limb Pod as well as gold potential on the west side of the tenement, along the Big Bell Shear splay structure.

SCN by the numbers
More From The Market Herald

" Kelsian Group (ASX:KLS) sells East London bus operation for £20m

Tourism and bus company Kelsian Group (ASX:KLS) agrees to sell its East London bus operations to…
The Market Herald Video

" Titomic (ASX:TTT) sells first Titomic D523 system in Asia Pacific

Titomic (ASX:TTT) has sold its first Titomic D523 system through the company's Australian branch to D&C…

" COVID-19 outbreaks force Brickworks (ASX:BKW) to wind back operations

Brickworks (ASX:BKW) has wound back operations at several facilities in New South Wales and Queensland in…

" Bapcor (ASX:BAP) looks to raise $210M and carry out its 5-year strategy in spite of COVID-19

Bapcor (ASX:BAP) is looking to raise up to $210 million to reduce its net debt and…