C29 Metals (ASX:C29) hits ‘promising’ skarn mineralisation at Reedy Creek

Highlights

• C29 Metals has received the assay results from the final three diamond holes drilled under the seven-hole program at the Reedy Creek Project.
• The assay results indicate skarn mineralisation extension containing significant amount of copper.
• C29 is planning geological mapping, sampling, RC drilling and geophysical survey over the tenement in light of encouraging assay results.

Copper-focused mineral explorer C29 Metals Limited (ASX:C29) has received the remaining tranche of assay results from its recently concluded 7-hole diamond drilling program at the Reedy Creek Project.

Related read: C29 Metals (ASX:C29) wraps up drilling at Reedy Creek with mineralisation extending 200m of strike

The assay results returned copper mineralisation in excess of 1% from skarn-altered limestone in drill hole RCDH007. The result is in line with the findings of the previously announced assay results of the first four holes. The drilling has established a strong relation between skarn alteration and base metal anomalism at the Reedy Creek Mine prospect.

Map showing drill collar locations of the holes on Reedy Creek tenement (Image source: C29 update, 18 May 2022)

Data source: C29 update, 18 May 2022

Related read: C29 Metals (ASX:C29) soars 8% on intercepting broad intervals of anomalism at Reedy Creek

Drilling program and assay results

The Reedy Creek Project is located in the prolific Lachlan Fold Belt in Central New South Wales. The project consists of EL8541, a granted exploration licence spread across an area of 42km².

C29 Metals commenced a seven-hole diamond drilling over the project in December 2021 and finished drilling in March 2022. The drilling program was designed to confirm the significant historical high-grade copper, gold, silver, lead and zinc zones on the tenement and to test the mineralisation extension. The final three holes were drilled 220m along the strike of the historical Reedy Creek Mine in a section line transecting the prospective stratigraphy.

The assay results indicate elevated levels of copper and zinc in hole RCDH007, which intersected the target limestone and skarn alteration. The intersections are in line with the results from holes RCDH001 to RCDH004.

The notable intersections from RCDH007 include:

• 3m @ 0.48% Cu from 48m, including 1m @ 1.14% Cu from 49m
• 0m @ 0.95% Zn from 19m

Interesting read: How is C29 Metals (ASX:C29) positioned as copper demand improves?

Cross-section of copper and zinc anomalism (Image source: C29 update, 18 May 2022)

C29 interprets that the copper mineralisation in drill hole RCDH007 is localised to the skarn-altered upper section of the Berkley Formation Limestone unit. The zinc mineralisation was observed in an oxidised and highly strained volcaniclastic breccia unit. The controls of zinc mineralisation are not fully known currently but the company believes that it may be coming from fault-controlled remobilisation from the deeper source.

Core photographs (Image source: C29 update, 18 May 2022)

What’s next at Reedy Creek?

• C29 is planning further on-ground exploration, which will include geological mapping, sampling, RC drilling and geophysical exploration.
• Further exploration on the cards around the historic Reedy Creek Mine, involving drilling and geophysical surveys.
• Commencing exploration works on the under-explored Endeavour-1 prospect.

Related read: Asset acquisition & multiple exploration programs help C29 Metals report a busy March quarter

Shares of C29 are trading at AU$0.15 apiece on the ASX today during the early hours of trade.