Clancy Exploration extends copper, gold mineralisation at Myall, NSW
proactiveinvestors.com.au
Clancy Exploration Limited (ASX:CLY) has announced further positive drilling results at the new copper-gold discovery at the Kingswood prospect within the Myall project in NSW.
An intercept from the upper part of the first diamond hole (MYACD001) of 42m @ 0.7% copper and 0.23g/t gold was recently released to the market. Results have now been received for the remaining part of MYACD001.
The width of the previously reported intercept has increased and a new zone of copper-gold mineralisation has been defined at depth. The updated results include the following significant intercepts:
-70m @ 0.54% copper, 0.15g/t gold from 141m, including;
- 52m @ 0.67% copper, 0.20g/t gold from 144m; and
- 62m @ 0.27% copper, 0.13g/t gold from 260m, including;
- 10m @ 0.64% copper, 0.61g/t gold from 268m.
Clancy’s Managing Director, Mr Mark Stewart said that Clancy is extremely pleased and excited by such strong results from the first diamond hole at the prospect, with the stronger gold mineralisation in the lower vein zone being particularly encouraging.
“The copper-gold intersections are associated with the two vein zones that we reported to the market on 15th April 2009. The vein zones are separated by a broad zone of faulting and strong fracturing and the lower zone has a higher gold content".
"There is significant upside here because this is the first proper test of the basement in what is a large zone of alteration and copper anomalism defined by our previous aircore drilling. Gold Fields, our joint venture partner, is now managing the project and we are keenly anticipating further positive results as they ramp up activity at this exciting prospect,” Mr Stewart said. |
