Examination of historic drill results has seen WCB Resources identify significant copper halo results, thereby enabling it to upgrade the potential of the Misima Island porphyry copper-gold-silver project.
Halo drill results are considered important in demonstrating project potential and are routinely used for targeting the deeper higher grade central regions of the system.
Historic drill testing by Noranda targeting open pittable high grade copper mineralization was completed in 1969 to 1972 and from 1977 to 2000 by Misima Mines, who targeted open pittable gold and silver. Noranda concluded that the potential high grade component of the system was at depth whilst Misima Mines focused on the adjacent gold and silver mineralization. Neither Noranda nor Misima Mines drilled the interpreted central core or potential high grade component of the system.
Numerous modern discoveries of highly significant porphyry copper-gold deposits such as Ridgeway and Cadia East (Australia), Golpu (PNG), Namosi (Fiji), Elang (Indonesia), Taca Taca (Argentina) and Caspiche (Chile) have been influenced by geological factors that have included the recognition of halo or lower grade mineralization that typically envelops the central zones. Deep systematic drill testing beneath this halo geochemistry resulted in the discoveries of these multi million tonne copper and multi-million ounce gold resources.
Results from historic drilling at Misima show a well-defined area of halo intersections measuring 1500 by 1000 metres. Importantly many of these intersections commence at shallow depth and end in similar material. This zone is also defined by systematic copper, gold and silver soil anomalism and highly elevated copper, gold and silver channel results. Central to this area is a high order magnetic anomaly coincident with interpreted magnetite alteration that is yet to be drill tested.
Planned drill testing by WCB will be targeted at the central interpreted higher grade components of this classic porphyry system with planned drill hole depths of more than 1000 metres.
WCB’s president and CEO Cameron Switzer says, “The development of these high order halo style results over such a large area further support the WCB interpretation that the Misima target represents a Tier 1 porphyry copper-gold-silver target. This data when combined with the previously released systematic data including soils, channels, magnetics and mapping further upgrade the prospectivity and potential.
“WCB will be drilling deep holes aimed at defining ore bodies not geochemistry. In addition this is only one of our exciting targets. The board and management believe that this is an exciting transition phase for WCB and one which has the potential to deliver enormous growth potential for all investors.”
The Misima Island project is in the same terrain and geological region that includes the giant deposits of Grasberg, Ok Tedi, Wafi-Golpu, Lihir, Porgera and Panguna. Past production on Misima Island totals 4 million ounces of gold and 20 million ounces of silver. An inferred mineral resource of 1.57 million ounces of gold and 8.5 million ounces of silver was recently defined.