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Queensland Mining Corp. Ltd.
Summary
| Project: | White Range | |
|---|---|---|
| Deposit: | Copper Canyon | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Gold-Silver-Cobalt | |
| Date: | 11/8/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-11-2016: Queensland Mining Corp. Ltd. announces an Exploration/Drilling Update report for its Copper Canyon deposit at the White Range project. JV - Drilling results incl. 8m @ 0.70% Mo, 1.59g/t Au, 37ppm Ag from 69m. Queensland Mining Corporation Limit | |
| Resources: | (Resource, I+I): 5.1Mt @ 0.79% Cu, 86ppm Co at Young Australian | |
| CP/QP: | [Overall Report]: Guojian Xu (Redrock Exploration Services Pty Ltd.) | |
| ABSTRACT: | Queensland Mining Corporation Limited (ASX: QMN) have received results from the second phase of RC drilling completed recently at Copper Canyon, located approximately 25 km south of Cloncurry in northwest Queensland (Figure 1). The program consisted of 13 holes for a total of 1,446m and was designed to follow up intersections from earlier drilling, including the bedrock RC program completed in August of this year. The drilling has intersected additional high grade molybdenum mineralisation, with associated gold and silver, as well as zones of anomalous copper. The Copper Canyon prospect is situated in the northeastern part of MDL204 and extends into the southeast of EPM 15740. These tenements lie on the eastern flank of the regionally prominent Marimo basin in the Cloncurry mineral province. MDL204 covers a total area of 1,920 ha and is 100% owned by QMC’s subsidiary White Range Mines Pty Ltd. EPM 15740 is currently held by Exco Resources, and QMC is operating under a Tenement Swap Deed with exclusive exploration rights over the bulk of the tenement. The prospect also forms part of the Company’s White Range project and is located approximately 10km north of the Greenmount deposit, which contains the single largest copper resource for the project. The local geology consists of a 3.5km x 600m lens of Marimo slate, surrounded by Staveley Formation sandstone, siltstone, shale, and calc-silicate (Figure 2). Known mineralization occurs along the stratigraphic contact but is mainly constrained within the altered Marimo slate unit and is dominated by chalcocite, with lesser malachite near the surface. | |
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