29Metals holds a portfolio of exploration interests, including regional tenements surrounding Capricorn Copper and Golden Grove, and a strategic tenement package and exploration project in Redhill located in Chile, the world’s largest copper-producing country. We adopt a systematic and disciplined approach to exploration, seeking to identify, prioritise, test and prove economic mineralisation with the objectives of:
Increasing Mineral Resources and Ore Reserves inventory through drilling activities within our existing operations;
Identifying extensions to, or repeats of, known mineralised structures; and
Discovering new deposits with the potential to be new ore sources for our existing producing mines (to extend mine life, provide additional operating flexibility and/or increase production) or potential new mines.
Exploration opportunities exist in the prospective tenement packages around existing mining operations at Capricorn Copper and Golden Grove, as well as the regional tenement package at Redhill in Chile.
The Golden Grove mine has a history of discovery with mining leases covering approximately 129km².
These mining leases cover all known occurrences of the Golden Grove formation and are also considered prospective for gold within the overlying formations.
Despite the maturity of Golden Grove as a mineral province, the Golden Grove tenements remain relatively under explored, with limited exploration drilling undertaken outside the areas of known mineralisation at Scuddles, Gossan Hill and Gossan Valley and immediate surrounds.
In particular, historic exploration has focused on identifying sulphide mineralisation within 400 metres of the surface (other than at Scuddles, Gossan Hill, Gossan Valley and surrounding areas where drilling associated with known mineralisation has extended to depths up to 1.8 kilometres).
Gossan Hill, Scuddles and Gossan Valley (Golden Grove).
Shear/vein hosted and disseminated gold – examples include:
Golden Dragon district (adjacent to Golden Grove) (third party property)
Favourable host rocks
Golden Grove formation (base metals)
Scuddles formation (base metals)
Mougooderra formation (gold)
Regional north-northwest trending shear zones:
Chulaar shear
Mougooderra shear
Capricorn Copper
Mining Leases
~1,900 km²
Status
Production
Mining Rate
1.8 Mtpa
Prospective for
As at 31 Dec 2022
29Metals holds exploration interests covering approximately 1,858 km² within the highly prospective Western Fold Belt of the Mount Isa Inlier.
This region is host to the world class Mount Isa mine (Pb, Zn, Ag and Cu), as well as the Lady Annie, Mt Oxide, Lady Loretta and Century mines, among others.
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