High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
Results follow Morrissey Hill assays of up to 2.3% Li₂O (ASX Announcement 15 May 2023).
Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
Significant results include: o 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039). o 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042). o 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041). o 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned: o 18.5% Cu, 1.1g/t Au and 6.8g/t Ag.
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
Morrissey has never been drilled & geochemical surveys planned to commence next week.
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal depositsin the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
Jeremy Bower, Reach Resources CEO