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Platypus Minerals Ltd.
Summary
| Project: | Gobbos | |
|---|---|---|
| Deposit: | Pearl Bar, Bridget | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Gold-Silver | |
| Date: | 7/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-7-2016: Platypus Minerals Ltd. announces an Exploration/Drilling Update report for its Pearl Bar, Bridget deposit at the Gobbos project. Drilling results incl. 92m @ 0.31% Cu, 109ppm Mo, 4.56g/t Ag at Pearl Bar. Perth-based Platypus Minerals Ltd (“Plat | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tom Dukovcic (Internal) | |
| ABSTRACT: | Perth-based Platypus Minerals Ltd (“Platypus” or “Company”) is pleased to advise results of a reconnaissance drilling program completed in late June 2016 at the Pearl Bar and Bridget prospects within the Gobbos project area (E45/3326) in the East Pilbara region of Western Australia (Figures 1 and 2). The short program comprised three holes for a total of 422 m of reverse circulation (“RC”) drilling. Two holes were drilled at Bridget and one at Pearl Bar, as detailed in Table 1. Results from both prospects confirmed the presence of widespread copper porphyry mineralisation, possibly part of one large system extending over an area in excess of 5 km in strike and including the intervening Gobbos prospect (Figure 2). Significant copper was encountered at each prospect, with Pearl Bar hosting attendant molybdenum and silver mineralisation, while at Bridget copper occurs in association with gold. These latest drilling results, combined with the prior drilling results returned for the Gobbos prospect, which sits between Pearl Bar and Bridget, attest to the presence of a large porphyry-style mineralised system extending for in excess of 5 km and which remains open in all directions. Work by Platypus to date has confirmed the general tenor of copper grades to be around 0.1% to 0.2% within the mineralised envelope, with occasional intervals within this envelope grading above 1.0% Cu. The main core of the porphyry mineralisation is yet to be located and it remains unclear whether this might occur laterally or at depth. Further work is warranted at this impressive, extensively mineralised project area, which also includes the Cyclops Ni-Cu prospect at which Platypus has not yet undertaken fieldwork. In light of the Company’s move into the lithium sector, Platypus is considering its options with regard to how to optimise future development of the Gobbos project. | |
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