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Mincor Resources NL
Summary
| Project: | Tottenham | |
|---|---|---|
| Deposit: | Tottenham | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver-Zinc | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-9-2018: Mincor Resources NL announces a Resource Estimation report for its Tottenham deposit at the Tottenham project. Updated mineral resource estimate at the project. Mincor Resources NL (ASX: MCR) provides updated annual Mineral Resources estimates | |
| Resources: | (Resource, I+I): 7.37Mt @ 1.2% Cu for 86100t Cu contained at project | |
| CP/QP: | [Resources]: Robert Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR) provides updated annual Mineral Resources estimates for the Tottenham Joint Venture with Bacchus Resources Pty Ltd1 (Bacchus) in New South Wales. The updated copper and gold Mineral Resources estimates include the results from the reverse circulation (RC) drilling programs completed during the 2018 financial year. The estimated Mineral Resources stands at 7.37 million tonnes @ 1.2% copper and 0.4g/t of gold, for 86,100 tonnes of contained copper and 90,600 ounces of contained gold respectively, at the Mount Royal and Carolina areas. For the latest technical summaries for the Mineral Resource please refer to Appendix 2. Both Carolina and Mount Royal (which includes the Orange Plains prospect) are located within an under-explored land package containing a total strike length of some 30km of a prospective volcanic-hosted massive sulphide (VHMS) copper corridor. The corridor contains quality portfolio of exploration targets which include resource-level prospects, regional copper drill intersections and known copper oxide occurrences at surface (see Figures 1a and 1b). Tottenham is an historical copper mining camp with a geological setting directly analogous to the Tritton Mine Camp (1 million tonnes of contained copper), located 120km to the north. A significant increase in regional exploration around the Tottenham district has yielded important high-grade discoveries. This includes the high-grade Collerina Prospect discovered by Helix Resources Limited on an adjoining tenement to Tottenham JV’s landholdings (see Helix (HLX) ASX announcement in June 2016). The Collerina mineralisation is interpreted to cross over into the Tottenham JV tenements along its plunge extent (Figure 1a). The Mineral Resources mainly comprised of near-surface oxide mineralisation and are likely to be amenable to open pit mining and processing via heap leaching and solvent extraction/electrowinning. In addition to the near-surface copper oxide, there is considerable potential to delineate high-grade copper sulphide Resources at depth. The Carolina prospect is just one of a cluster of volcanogenic massive sulphide (VMS) bodies identified to date at Tottenham. The high-grade prospect contains a well-developed zone of massive chalcopyrite sulphides and associated gold mineralisation. The Mineral Resource estimates below the depth of oxidation currently contains a subset above a 2% copper cut-off of approximately 576,000 tonnes @ 3.7% copper and 0.9 g/t of gold. A series of DHEM anomalies2 support this open-ended trend down-plunge (Figures 2 and 3). | |
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