Aeon Metals has snapped up further ground near the Beauchamp target in North-West Queensland after test results confirming the presence of a large, mineralised IOCG (Iron Ore Copper Gold) system.
The company said the Aeon geological team was excited by the broad regional alteration observed from recent drill results and that the target stratigraphy was at shallow depths.
It has since secured three further tenements over associated structures with coincident magnetic and gravity responses.
“This is an exciting development on the back door to Mount Isa and has prompted us to secure further ground,” Aeon managing director and chief executive officer Hamish Collins said.
“We were particularly pleased by the shallow cover sequence. We expect this will transform the view of exploration in this area given that it substantially changes the metrics of what might constitute a
viable development project.
“We look forward to advancing our understanding of the area in 2021 and
are appreciative of the assistance of the Queensland Government through their CEI funding program.”
Aeon completed three diamond drill holes at Beauchamp, about 100km west of Mount Isa, including one fully funded by a Collaborative Exploration Initiative (CEI) grant.
It said the maiden drilling program had allowed it to collect a large amount of assay, geological, structural, density and magnetic susceptibility data which would be applied to better understand this large, underexplored system.
This would help to plan for further follow up work, including detailed geophysical surveys and further target drilling during the 2021 exploration program.
Aeon noted that its core focus remained on the advancement of the world-class Walford Creek copper-cobalt project.