Drilling commences at Malachite’s copper projects

23 October 2007 | 04:44 Code : 15723 Geoscience events
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Drilling has commenced at Malachite Resources’ copper projects, located....
Drilling commences at Malachite’s copper projects

  Drilling has commenced at Malachite Resources’ copper projects, located northeast of Mount Isa in northwest Queensland, with at least 2000m of diamond drilling scheduled to take place at Volga Elderberry and Mt Lidster before the end of 2007.Malachite’s initial target comprises high-grade, massive sulphide lodes at the Volga Prospect, where the best intersection in earlier drilling was 13.8m @ 2.9% Cu and 0.5g/t Au (including 2.5m @ 11.9% Cu and 1.9g/t Au) and a recent geophysical survey has identified a series of anomalous electrical conductors. Malachite said separate, coarse to very coarse grained disseminated chalcopyrite mineralisation in calc-silicate host rock would also be targeted. According to the company, the geological setting at Volga is thought to be analogous to that of Ernest Henry and other iron-oxide copper-gold deposits in the region. Next month the rig will relocate to Mt Lidster, where previous drilling by the company has intersected very encouraging copper mineralisation, including 18m @ 2.4% Cu (including 2m @ 9.8% Cu). Malachite said this mineralisation is associated with a well-defined linear structure, which is variably mineralised with massive copper sulphide and copper-bearing quartz. Recent geophysical surveying has outlined several discrete electrical conductors both within and outside of this structure and Malachite said these would also be targeted in the forthcoming drilling.

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