WCB RESOURCES’ first drill hole at Misima is believed to have struck the shoulder of what may be a large copper-gold porphyry system in encouraging signs for the first drilling operation at the prospect since 1969.
The company is now using the information garnered from the initial drill to target what it believes may be the central zone with a second scout hole.
WCB became the first company to break ground at the Misima porphyry prospect in 35 years when drilling began in September.
Chief executive Cameron Switzer described the initial drill hole as an “encouraging” start to the Misima program and said the second drill hole was well-placed to intersect potential porphyry mineralisation.
“The first hole, GDD001, has intersected a broad zone of anomalous copper with some elevated copper values with supporting strong alteration and fracturing, typical of what we might expect to encounter on the shoulder or fringes of a large copper-gold porphyry system,” he said.
“We are encouraged by what we have seen so far in this hole as it demonstrates the significance of this system.
“We look forward to seeing the results of this and subsequent scout drill holes,” he said.
The initial 4,000 metre reconnaissance scout diamond drilling program started in mid-September, targeting deep strong magnetic features beneath an extensive one square kilometre copper soil anomaly which coincided with extensive rock chips, shallow drilling and skarn mineralisation and halo veining at the surface.
WCB said drilling had progressed well with anticipated production rates and good recoveries achieved.
The first scout diamond hole was drilled to a depth of 723 metres where initial assays demonstrated a broad zone of anomalous copper over 188 metres.
“Detailed examination and geological observations of the drill core from GDD001 indicate the presence of strong propylitic-style alteration including pyrite, strong fracture density and vein styles typical of the margin of a large porphyry copper-gold system,” the company said.
WCB said it was encouraged by the observations, which it said “may represent an important incremental step towards the central porphyry zone at depth”.
The company said assay results have been received for the interval from two to 190 metres of the hole, with analysis indicating the entire interval averages 572 ppm or 0.05% copper.
“These results are similar to the previous 1969 drill testing completed by Noranda,” WCB said.
They said individual peak copper results correspond to peak molybdenum and silver results.
“These results provide a vector to the south-west of this hole, suggesting that the target central porphyry zone may lie in this area,” it said.
“This gives the company confidence that the second diamond hole, GDD002, has been correctly located to test this target central porphyry zone, where stronger copper mineralisation could be expected.”
Mr Switzer said in September that the company’s previous exploration supports the theory that the site is a “tier one prospect”, but deep drilling would provide the decisive answer.
“Deep drilling is the ultimate test in these porphyry systems,” Mr Switzer said.
“This is the first modern dedicated drill program on this prospect since 1969 and marks an exciting phase of activity for WCB.”
WCB said diamond drill hole GDD001 was collared in the north-eastern section of the prospect and drilled at an 80 degree angle towards the south-west, targeting the depth extensions of the mineralised material on the surface as well as the central and most intense magnetic anomaly.
The second drill hole, GDD002, is being drilled at a 60 degree angle towards the south-west to test the extensions of the surface channel results reported previously.
Up to three more drill holes may follow, with the sites being progressively prepared.