Adelaide Resources has announced some of the highest grade copper-gold results in South Australian history at its Alford West prospect within the Moonta Project.
Moonta is at the southern end of the state’s world-renowned Olympic copper-gold province which hosts BHP Billiton’s Olympic Dam, Oz Minerals’ Prominent Hill and Moonta-Wallaroo mines.
The shallow, high-grade copper and gold intersections at Alford West include highlights of 20 metres @ 4.2% copper, 0.27 grams/tonne gold and 45 metres @ 1.55% copper and 1.81 grams/tonne gold.
“These are some of the most significant copper-gold assay results ever achieved from exploration on the Yorke Peninsula and we believe they will be some of the best exploration results that any company, big or small, will achieve in Australia in 2013,” says Adelaide Resources’ managing director Chris Drown.
“These initial copper and gold grades are comparable with grades from early drilling at the likes of the now producing mines at Olympic Dam and Prominent Hill, and exceed early exploration results from Rex’s Hillside project. Significantly, our discovery is at much shallower depths than deposits like Olympic Dam or Prominent Hill, with some high grade intersections commencing within just 5 metres of the surface,” he says.
Adelaide Resources is also excited about the high grade copper intersections that have been confirmed from every traverse drilled to date. The company has also achieved some very significant gold intersections at Alford West.
“We now see obvious potential to grow this deposit along strike and at depth, and are confident of the tremendous potential to discover more high grade lodes in the broader, 3km-long geochemical anomaly defined by the historic WMC auger geochemistry,” says Chris Drown.
He says the results would not have been secured as quickly without the help of the South Australian government’s Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE).
“Just weeks ago, we reported that we had uncovered significant historical copper and gold exploration results from the Alford West prospect. With a drill rig already in the field, we were very keen to commence drilling on the areas identified by the historical exploration results as soon as possible.
“Our ability to get drilling under way, and achieve such spectacular high grade results, was significantly aided by DMITRE’s prompt addressing of our exploration work application. I don’t believe this could have been achieved in other Australian jurisdictions,” he says.
Further drilling is being planned following receipt and interpretation of the remaining assay results from the Alford West program.