Join our daily newsletter At The Bell to receive exclusive market insights
- Tombola Gold (TBA) intersects a wide zone of copper mineralisation in its first drill hole at the Little Duke project in northwest Queensland
- The first hole of the four-hole diamond drilling program intersected a wide zone of copper mineralisation between 70 and 250 metres, based on visual inspection
- The hole was drilled 20 metres south of the last work carried out in the area in 2019, during which time the company intersected significant copper, gold, and cobalt
- Assay results from the drilling are expected within four weeks, while drilling of the second hole in the program has now begun
- Tombola Gold shares are up 4.92 per cent, trading at 6.4 cents
Tombola Gold (TBA) has intersected a wide zone of copper mineralisation in its first drill hole at the Little Duke project.
The Little Duke Project is located within the Golden Mile complex in northwest Queensland, around 800 metres northeast of the Mt Freda Gold Mine.
The company’s first diamond drill hole from a four-hole program at Little Duke intersected a wide zone of copper mineralisation between 70 and 250 metres, based on visual inspection. This was later confirmed by a handheld XRF analyser.
The mineralised drill core contained extensive intervals of quartz-carbonate hydrothermal breccia, contained within a conductive shale-host. It came with significant chalcopyrite, massive pyrrhotite and pyrite in an iron sulphide copper gold-style of mineralisation.
The first hole was drilled 20 metres south of the last drilling carried out in the area in 2019, during which time the company intersected significant copper, gold, and cobalt.
The trend of mineralisation appeared to continue to the south along the northwest margin of a large magmatic body, which was interpreted to be deep and large igneous intrusion.
Tombola Gold Managing Director, Byron Miles said the company is very excited with the significance of this drill hole.
“The 170 metres of mineralisation from 70 metres beneath surface has the potential to establish this project as a very large target for the copper, gold and cobalt operation located proximate to our flagship Mt Freda Gold Mine that is expected to produce initial gold over the coming months,” Mr Miles said.
Assay results are expected within four weeks, while the second drill hole in the program has now begun.
The company said its primary focus will remain on initial gold production from its flagship Mt Fred Gold Mine in the third quarter of 2022.
Tombola Gold shares were up 4.92 per cent, trading at 6.4 cents at 12:25 pm AEST.
