Metal Bank at work on copper-cobalt site
The company said observations, supported by pXRF analysis, were very encouraging for the first two drill holes completed.
Metal Bank and project owner Global Energy Metals Corporation have signed a binding term sheet for a six-month exclusive option for Metal Bank to earn-in and joint venture Millennium.
“We are excited to receive visual observations of copper and cobalt from the first two holes confirming the potential for expansion of the existing resource in the south both at depth and along strike,” Metal Bank executive director Inés Scotland said.
“We are awaiting the assays but the pXRF indicates increased confidence in the current resource and some higher grade zones.”
She said the company was now commencing drilling to test the northern extension area at Millennium, following up on extremely encouraging initial observations by the field team suggesting target continuity in the north of the project.
Millennium is an advanced exploration and development project located in the Cloncurry region, 19km from the Rocklands copper-cobalt mine.
The project holds an inferred 2012 JORC resource of 5.9MT at 1.08 per cent copper equivalent across five granted mining leases.
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