Syndicated Metals’ drilling at Mount Remarkable

Syndicated Metals Ltd has reported that it has commenced its maiden drilling program...

  Syndicated Metals Ltd has reported that it has commenced its maiden drilling program since listing on the ASX in December 2007.The program consists of 1500m of RC drilling at three copper targets within its 100% owned Mount Remarkable Project near Mount Isa. The initial targets will be the Barbara, Mount Margaret and Mount Hutchinson Prospects.The most advanced of these is the Barbara prospect where historical drilling returned intercepts including 18m at 3.2% Cu, 13m at 3.4% Cu and 8.3m at 3.4% Cu over a strike length of 200 metres. Extensive historic workings have been documented on the Barbara Prospect including six abandoned shafts over a 550m strike length. The workings exploited oxide copper ore within a north-northwest trending shear zone in mafic schist. Results of this inaugural drilling campaign are expected in May.The Mount Remarkable Project comprises eight mostly contiguous tenements covering over 900km2. The project tenements are centred about 60km north east of Mount Isa and are considered by the company to be prospective for copper, copper-gold and sediment hosted lead-zinc-silver style mineralisation. Commenting on the program, Managing Director, Mr Russell Davis, noted that: “With the resilience of the copper price in difficult global trading conditions and the favourable grades seen in historical drilling, the company is keen to prioritise copper exploration. We believe that, given the historical copper mineralisation identified on the tenements and Syndicated’s own research, the Barbara Prospect in particular has early potential to generate a copper resource.” “The Mount Remarkable Project area is favourably located just 60km from Mt Isa, providing possible alternative treatment options for any economic sulphide copper mineralisation discovered such as toll milling or, depending on the ultimate size, a stand-alone operation,” he added.