Lincoln review of historic drill data confirms 7km base metals strike
Another hole 5.3km southwest of the discovery hole produced a 2m section grading 0.7pc copper from 92m.
Management says a significant 474m portion of the historic drill core was never assayed for base metals and this will now be done as a top priority to help identify more exploration targets. This will lead to a targeted assault with a drill bit.
Lincoln Minerals chief executive officer Jonathon Trewartha said: “Our initial analyses of the historic drill holes at Minbrie have already delivered exciting results, identifying a 7km mineralised target zone. Re-examining historic drill holes from Centrex’s 2011 program continues to uncover significant potential and we are focussed on refining high-priority drill targets in this highly prospective base metals region of South Australia.”
Lincoln is continuing to re-log all the historic drill core that intersected the highly promising footwall sequence. It is conducting portable XRF analysis on the core and potentially lab assays on key footwall intervals for both base and precious metals.
The footwall sequence presents as rock material sitting beneath the mineralised contact zone or under an inclined geological fault.
Management is planning to broaden its testwork to include an analysis of pulps from previous drilling for gold and silver, in addition to the critical minerals gallium, germanium, iridium and rare earth elements.
These elements are commonly associated with magnetite iron and base metals in the Eyre Peninsula region, which is considered a premier mining jurisdiction.
The Minbrie copper and base metals project is close to multiple base metal discoveries and mining operations.
To its north, the renowned Gawler Craton is a hugely prospective geological feature hosting world-class iron oxide-copper-gold-uranium deposits, including BHP’s massive Olympic Dam, Prominent Hill and Carrapateena trio of mines.
Lincoln has wisely interrogated existing data to uncover a potentially large mineral system consisting of in-demand base and precious metals at a fraction of the cost of drilling and assaying a similar-sized discovery. Let’s see how big this canny find can become.
Is your ASX-listed company doing something interesting? Contact: [email protected]
Is your ASX-listed company doing something interesting? Contact: [email protected]
Is your ASX-listed company doing something interesting? Contact: [email protected]
