Duke Exploration says it has again doubled the mineralised area at Mount Flora, within its flagship Bundarra copper project in Central Queensland, after new drill results.
The first hole targeting a VTEM (versatile time domain electromagnetic) plate anomaly north of Mount Flora successfully intersected visible copper mineralisation in stacked veins from 47m to a depth of 225m.
Duke described this as a critical advance in understanding the
source of the regional VTEM anomalies at Bundarra and the scale of the copper and silver mineralisation at Mount Flora.
“This is a very exciting time for the company as these results have
exceeded already our expectations of how big Mount Flora could be,” chairman Toko Kapea said.
“This goes hand in hand with the growth potential from the 40 remaining undrilled VTEM plate anomalies that now seem likely to map more copper-bearing massive sulphide veins.
“So not only is our first resource target growing through drilling, but the regional resource potential is growing at the same time through exploration. ”
The latest results extend the strike of the Mount Flora deposit that requires resource drilling by 250m, which would further add to the mineralised area defined by the drilling to the south, the company said.
Two holes are also to be drilled 60m and 120m along strike to the north to test the strike extent of this new vein system.
Duke Exploration expects this work to be completed by the end of February and says it could extend the strike of the known copper and silver mineralisation at Mount Flora by more than 500m.
Phase Two drilling is set to start immediately and continue to the end of the June quarter.
The company plans to source a second rig to fast-track resource and exploration drilling over Mount Flora, Quorn and the Quarry prospects at Bundarra.