Reed Uncovers High Grade Copper-Gold at Meekatharra
- High grade intersections around historic Chunderloo Copper Mine;
- Chunderloo copper-gold-silver target includes intersection of 15m@ 14.7g/t Au and 4.1% Cu (including 7m of 28.9 g/t Au and 8.3% Cu);
- Numerous geochemical and geophysical targets over 1.5km strike.
Australian diversified resources company Reed Resources Ltd (ASX: RDR) (the “Company” or “Reed”), is pleased to announce that a review of historical information on the Yaloginda area of its Meekatharra Gold Project has identified significant high grade copper–gold intercepts beneath the historic Chunderloo Copper Mines. Chunderloo is 3km west of the Company’s 3Mtpa Bluebird processing facility (Figure 1 of the ASX announcement).
Chunderloo was the third largest copper producer in the Murchison District prior to the discovery of Golden Grove. It was mined at two locations about 1km apart; Chunderloo North and Chunderloo South (Figure 1 of the ASX announcement). Endeavour Resources undertook a RC drilling campaign into the northern deposit in the early 1990’s and intersected a shallow north east plunging shoot (Figure 2 of the ASX announcement). The best result from this program was 15m @ 14.7g/t Au and 4.1% Cu, including 7m @ 28.9 g/t Au and 8.3% Cu from hole PHC016.
Whilst the previous owner was in administration, four RC holes were drilled into Chunderloo North. These holes were designed to test a geophysical target. Hole O8CHRC001 confirmed the intersection in PHC016 returning 7m @ 5.3g/t Au, 2.1% Cu and 18.2 g/t Ag. This intersection is in amphibolite and includes a logged intercept of massive sulphides (up to 90% pyrrhotite). This hole was stopped in mineralisation (Figure 3 of the ASX announcement).
Holes 08CHRC002 to 08CHRC004 targeted the down-plunge extension of the ore body. All holes intersected mineralisation (Appendix A of the ASX announcement). Hole 08CHRC002 failed to reach the target but intersected a smaller hanging-wall structure that graded 3m @ 1.52g/t Au. Holes 08CHRC003 and 08CHRC004 intersected anomalous gold and it is thought that the main target may have been missed due to the ore body geometry.
The two areas that have been historically mined are about 1 km apart with surface geochemistry anomalies extending substantially further (Figure 6 of the ASX announcement) and geophysical anomalies indicating depth extensions to the mineralisation (Figures 4 and 5 of the ASX announcement).
Managing Director, Mr Christopher Reed said “Chunderloo is a terrific re-discovery. It opens up this section of the Murchison Province for additional copper-gold discoveries following other successful discoveries elsewhere in the Province, such as the discovery of Doolgunna by Sandfire Resources NL. We aim to fast track drilling into this ore body and additional targets close to our Bluebird processing facility whilst we continue to progress the feasibility study to recommence production from our 2.5 Moz resource.”
Forward Work at Chunderloo
A number of RC drill holes are planned, and once permitted will be undertaken to test the down plunge and along strike potential around the Chunderloo workings. Other surficial gold-copper targets further along strike to the north and south and around the Southern Chunderloo workings are being prioritised.
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