Market Herald logo


Be the first with the news that moves the market
  • Base metals explorer Todd River Resources, has found new exploration opportunities at its Mt Hardy Copper Zinc Project in the Northern Territory
  • The new area of interest was found after receiving positive base metal results from resampling historical drilling
  • The target areas are located north of the Hendrix deposit and other shallow targets like Linda-Jane and Gilly
  • Todd River will conduct further drilling to target these areas of interest and expand mineralisation
  • Todd River remains flat today, with shares trading for 3 cents each

Todd River Resources has identified further exploration opportunities at its Mt Hardy Copper Zinc Project in the Northern Territory.

A new area of interest has been identified after receiving encouraging base metal results from systematic resampling of historical rotary air blast (RAB) and vacuum drilling.

This program identified several new areas of shallow base metal anomalism in bottom-of-hole samples taken during the resampling of RAB holes drilled to test for gold at the top of bedrock between 2002 and 2003 by Tanami Gold.

“Resampling of the historical RAB spoils is something that could be viewed as a first-pass ‘free hit’ look at some of the geology undercover in the northern part of the project. Having been able to identify 96 per cent of the holes drilled has provided us with a comprehensive geochemical map of a portion of the Mt Hardy Project,” Managing Director Will Dix said.

The target areas are located north of the Inferred Resource at the Hendrix deposit and other recently drilled shallow targets.

Todd River was able to collect material from 386 out of 404 holes, representing 96 per cent. The holes are generally wide at 100 metre spacing with small areas of infill to 50 metres, and the drill lines are up to 1.2 kilometres apart.

This drill spacing is generally considered too broad in the context of the base metal mineralisation at Mt Hardy, however the Hendrix Resource has a surface footprint much smaller than this wide-spaced drilling.

The new assays cover a suite of base metals and pathfinder elements to build a comprehensive geochemical database.

The best developed area of base metal anomalism, including copper, lead and zinc, is to the northwest at the Linda-Jane prospect, where recent reconnaissance RC drilling has also been completed.

Based on the samples collected, the area also contains the highest individual assays for copper and one of the highest for zinc.

Additionally, there is a broad northwest trending anomaly that extends under cover from the northern edge of the Gilly prospect for roughly 2.5 kilometres.

Todd River expects to complete a down-hole EM survey on the deepest holes on each prospect from the recent RC drilling program. Work will be completed late this month and is expected to enable for targeted drilling next year.

The company plans to follow up these anomalies and expand known mineralisation with a drilling program early next year.

“The last couple of months have delivered outstanding exploration results and we are excited about the opportunities we will be able to chase in 2020 in an area that is fast becoming a stand-out base metal exploration play,” Will added.

Todd River remains flat today, with shares trading for 3 cents each at 10:09 am AEDT.

TRT by the numbers
More From The Market Herald
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) achieves record net income in June quarter

Champion Iron (ASX:CIA) has achieved a record net income of C$75.6 million (roughly A$78.9 million) during…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) to return to full production at Bloom Lake

As of April 15, mining services have been deemed a "priority service", so Champion can ramp…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) winds down mining at Bloom Lake

Mining company Champion Iron (CIA) will decrease operations at its Bloom Lake mine in Canada, per a government directive.

" A recommissioned mine pushes Champion Iron over a significant milestone

Canadian based mining explorer Champion Iron reached its ten-millionth shipped tonne of iron ore today, thanks…