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Home Investors ASX Announcements Gulf Copper-Gold Project: Drilling Underway
Gulf Copper-Gold Project: Drilling Underway
Proof-of-concept drill tests of two standout magnetic targets are underway on the Gibson’s Tank tenement in Northwest Queensland.
This project targets several standout magnetic anomalies which Red Metal views as an under explored extension of the Cloncurry terrain offering scope for the discovery of Iron Oxide Copper-Gold (IOCG) breccia systems similar to that hosting the large Ernest Henry deposit further to the south.
The drilling will initially test the combined high magnetic and high gravity body GT07, followed by GT04 a high magnetic body located on the margin to a granite.
This two hole drill program is funded by OZ Minerals (ASX: OZL) under the terms of the Greenfields Discovery Alliance and is expected to be completed by mid-October.