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Accelerate Resources Ltd.
Summary
| Project: | Mount Read | |
|---|---|---|
| Deposit: | Mount Read | |
| Location: | Australia | |
| Commodities: | Cobalt-Copper | |
| Date: | 9/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-9-2018: Accelerate Resources Ltd. announces an Exploration/Drilling Update report for its Mount Read deposit at the Mount Read project. Drilling results incl. 32.0m @ 0.04% Co, 0.01% Cu from 280m . Accelerate Resources Limited (“Accelerate” or “the Comp | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Rust (Internal) | |
| ABSTRACT: | Accelerate Resources Limited (“Accelerate” or “the Company”) is pleased to announce the discovery of a large, Copper-Cobalt Porphyry system (Figure 1) at the Thomas Creek Prospect. The discovery is based upon data from the recent Thomas Creek diamond drilling program, including analysis and interpretation of geology, geochemistry and geophysical data sets Porphyry style mineralization systems generate some of the largest ore deposits in the World, generally these deposits are >1,000Mt and have long mine-lives, containing >1 Mt Copper with by-products of Gold, Silver and/or Molybdenum. All porphyry style mineralization systems have large alteration zones which generate significant accumulations of magnetite. Magnetic surveys can measure the size of these and give us an indication of their size. Thomas Creek’s aeromagnetic footprint is ~13km2 . The recently completed diamond drilling, comprising three holes TCDD001, TCDD002 and TCDD003, targeted a large IP chargeability anomaly located along the eastern margin of an ovoid magnetic body, below a surface copper-cobalt anomaly. (see ASX announcement 6 th April 2018). (Figure 3.) | |
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