C29 Metals (ASX:C29) to commence exploration program at Stadlers Project

Highlights

• C29 Metals to commence exploration activities over Stadlers Copper-Gold Project.
• The company has delineated four priority targets after reviewing the historical geological data.
• The exploration data from the 2017 program indicates the possible presence of high-grade copper mineralisation at the surface.

In a bid to boost its copper inventory, C29 Metals Limited (ASX:C29) informed the exchange on 8 August 2022 that it has decided to commence exploration campaigns on its 100% owned Stadlers Copper-Gold Project, located in Western Australia. This project was acquired by the company prior to its ASX listing and falls under the Exploration Licence E08/3122).

C29 is moving forward with the exploration program as the transfer of registration of the licence is now complete. The next step for the company is to secure the transfer of the Indigenous Land Use Agreement (ILUA) before commencing the fieldwork. For this, C29 is working together with the heritage groups.

For the recent updates of the company, click here.

Location map of E08/3122 (Stadlers Project) (Image source: C29 update, 8 August 2022)

Review of exploration data supports high-grade mineralisation

C29 Metals has been conducting data compilation and review of historical exploration data from the project. The exercise has led to the identification of the project’s potential to host structurally controlled epithermal copper deposits related to the Capricon Orogen.

The review of the historical data led to the generation of up to eight geochemical targets and several geophysical areas of interest. Stadlers Gossan, the most advanced exploration target on the project, has recorded rock chip samples of up to 45% copper. Newcrest’s drilling operations back in the 1990’s, on several copper-gold occurrences, had recorded significant intercepts including:

• 9m @ 1.86% Cu from 47m – Hole PB49
• 3m @ 0.25% Cu from 62m – Hole PB27

Geochemical results with historical drill hole sections on Stadlers Prospect Plan (Image source: C29 update, 8 August 2022)

Recently the company acquired and reviewed a rock geochemical sampling data that was collected in 2017. A total of seventeen rock chip samples were analysed using a portable XRF unit, and one sample was analysed in a commercial lab. The sampling program was focused on the Stadlers Gossan prospect and resulted in peak copper values up to 8.77%.

Five samples returned copper values more than 0.5% with moderate zinc anomalism. These samples did not return any detectable gold values, however, samples from the previous sampling program resulted in gold values up to 9.5g/t during the laboratory tests.

A well-established pattern of elevated copper in the weathered ex-sulphide rock samples was observed in the Stadlers Gossan area in a recent rock sampling program. C29 reports that limited drilling has taken place in this area and has established the continuity of grades in zones of quartz veining, brecciation and oxidised copper minerals. C29 plans to drill test the target area in the future.

One of the newly reported rock samples, located at the intersection of two known fault structures, have returned 0.37% copper and 1,600ppm zinc. Interestingly, the sample was located at distant from the pre-existing prospects in the area with no mapped gossan. C29 feels that this area needs further inspection and geological mapping.

Way forward

C29 is currently in the process of securing regulatory permits to commence field activities on the project. The company is planning its field reconnaissance, mapping and geochemical exploration activities over the project area, followed by a geochemical sampling program.

Also, the company has engaged an independent geophysical consultant to review existing geophysical datasets.