PAIV:D’Aguilar Gold associate Mt Isa Metals hits high grade copper gold at Blue Star Prospect
D’Aguilar Gold (ASX: DGR) has advised that associate Mt Isa Metals (ASX: MET) has intersected significant copper and gold from follow‐up reverse circulation (RC) drilling of the Blue Star Prospect near Mount Isa in Queensland.
The drilling will enable the recommencement of the calculation of a JORC Resource at Blue Star. Blue Star is located just 15 kilometres north of the sealed Barkly Highway close to established infrastructure.
Highlights from nine holes drilled include:
- 14 metres at 1.10% copper (Cu) and 0.20 grams per tonne (g/t) gold from 23m (incl. 2m at 3.76% Cu and 0.50g/t gold from 35m);
- 9m at 6.12% Cu and 0.69 g/t gold from 85m (incl. 4m at 9.89% Cu and 1.05g/t gold from 86m)
- 7m at 1.55% Cu and 0.12g/t gold from 38m.
Importantly, mineralisation on the No. 2 Reef is open along strike to the south‐east and at depth. The company is planning to commence additional RC drilling at Blue Star shortly.
The Blue Star Prospect is situated within the Blockade exploration permit (EPM 16197) and forms part of the West Leichardt Joint Venture between MET (49%) and Syndicated Metals Limited (51% and manager).
The current RC drilling program, comprising 9 drill holes for 676 drilled metres, was completed to follow up encouraging shallow first pass drilling results reported from the prospect in late 2010.
The Blue Star copper‐gold prospect is defined at surface by a zone of shallow historical copper workings that exploited multiple “reef” structures.
The drilling program focussed on the assessment of the steeply dipping, north‐west striking, Number 2 Reef which has generated the most significant copper‐gold drill intersections in the prospect.
D’Aguilar owns a 33% stake, or 52 million shares, in Mt Isa at a value of $23.7 million.
D’Aguilar also owns 35.2 million shares (12.4%) in Solomon Gold plc (LSE: SOLG) and 58.85 million shares (53%) in AusNiCo Limited (ASX: ANW), and 27 million shares (29%) in Navaho Gold Limited (ASX: NVG) exploring for gold and silver in Nevada (USA) and Queensland.
D’Aguilar is also progressing the corporate development of Archer Resources Limited which is focussing on the discovery and development of previously overlooked copper-molybdenum-gold porphyry systems in Queensland.
In addition, D’Aguilar is advancing the corporate and project development of Armour Energy Limited which has just completed a $14 million seed raising.
