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Highlights
CuFe has identified historical rock chip samples with grades of up to 11.9g/t gold at the Tambourah project.
Upcoming fieldwork aims to define the potential for economic drill targets.
Progress continues at West Arunta and Tennant Creek projects, including a resource review at Tennant Creek.
CuFe (ASX:CUF) is advancing its exploration efforts across its Western Australia projects, following a review that uncovered historical rock chip samples containing up to 11.9g/t gold at the Tambourah project. This discovery has prompted plans for upcoming fieldwork aimed at delineating potential economic drill targets.
In addition to developments at Tambourah, CuFe has successfully completed land access agreements at the West Arunta project. The company is now preparing to explore priority geophysical targets situated within 4 kilometers of Lycaon Resources’ (ASX:LYN) Stansmore target, indicating a strategic approach to capitalize on regional geological opportunities.
Executive Director Mark Hancock noted that over the past 18 months, CuFe has strategically repositioned its asset base to focus on high-impact greenfield exploration opportunities, following the monetization of its Western Australia iron ore assets. Hancock emphasized the inherent risks associated with greenfield exploration but underscored the significant upside potential for shareholders.
At the Tambourah project, the review of historical drilling and recent gold exploration has revealed promising prospects for gold extraction. The findings from rock chips and prior drilling present a solid foundation for further investigations, with upcoming fieldwork designed to assess the extent of quartz lodes and identify viable economic drill targets.
At West Arunta, CuFe is refining its exploration targets based on regional geophysical data and is closely monitoring the drilling activities of LYN at Stanmore. The company anticipates commencing exploration in the next year.
Additionally, at the Tennant Creek project in the Northern Territory, a JORC resource review is in progress. This review aims to enhance the resource base, supporting development options in collaboration with alliance partners Emmerson Resources and Tennant Minerals. The partnership is exploring the feasibility of a multi-user processing facility for copper, gold, and critical metals, leveraging recent high-grade exploration successes in the region.
