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Magnum Mining & Exploration Ltd.
Summary
| Project: | Cloncurry East | |
|---|---|---|
| Deposit: | King Edward | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 1/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-1-2018: Magnum Mining & Exploration Ltd. announces an Exploration/Drilling Update report for its King Edward deposit at the Cloncurry East project. Drilling results incl. 6m @ 5.0% Cu, 14.4g/t Au from 42m. Magnum Mining provides an update in relation t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Konecny (Internal) | |
| ABSTRACT: | Magnum Mining provides an update in relation to the drilling programme completed in December 2017 at its Cloncurry East Project. Magnum’s Cloncurry East Project consists of two tenement groups and is located between 10-20 kilometres east of Cloncurry in North West Queensland. The Project lies within the highly mineralised Mt Isa Eastern succession with nearby mining operations and advanced projects including Ernest Henry (Cu-Au), Monakoff (Cu-Au-Pb-U), Great Australia (Cu-Au), Rocklands (Cu-Au) and Dugald River (Zn-Pb-Ag). The Cloncurry East project area is at an advanced stage of exploration and is considered by the Company to be highly prospective for iron oxide copper gold (“IOCG”) +/- cobalt mineralisation and variants of this style of mineralisation. A 2004 metre reverse circulation drilling programme was completed within the project area in December 2017. Three prospects – Notlor, Salebury and King Edward were drill tested. All drill samples have been presented to the laboratory and receipt of results has commenced. Initial results from the two holes drilled at the King Edward prospect are highly encouraging. Two reverse circulation drill holes were completed at King Edward, both along structural lineaments and targeting coincident surface geochemistry and magnetic anomalies. The King Edward prospect area occurs within dolerite / gabbro adjacent to a granitic intrusive, and is surrounded by laminated and brecciated calc-silicate rocks of the Corrella Formation. Historical small scale mining is evident with small shallow pits developed on copper oxide and copper carbonate occurrences | |
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