Elementos Drills High-Grade Copper And Gold At Cleveland Tin Project

Elementos Ltd (ASX:ELT) has intersected high-grade copper and gold in diamond drilling at its Cleveland Tin Project in Tasmania.

Drill hole C2123 assayed 0.45 metres at 9.7% copper, 5.15g/t gold, 18g/t silver and 1.35% zinc at a downhole depth of 111 metres.

Drilled at new location

Beyond the high grades of copper and gold intersected, the exploration significance of this intercept is that C2123 is being drilled from a new location and at a new orientation to the majority of historic exploration drilling.

The current drilling at Cleveland is located at the old Cleveland process plant ROM pad, to the northwest of the company’s tin, copper and tungsten mineral resources, and drilled towards the south-east.

The intersected mineralisation consists of semi-massive, laminated pyrite, pyrrhotite and chalcopyrite over 0.45 metres within a distinct zone of fine-grained sediments between two mafic volcanic units.

Results demand further evaluation

Elementos Managing Director Joe David said: “This un-targeted high-grade copper and gold drilling intercept confirms Elementos’ understanding that the Cleveland Project is a highly mineralised project with high prospectivity for further mineralisation existing outside the defined Mineral Resources.

“Whilst we were not currently focussed on exploring for gold or copper, these results demand further evaluation which we will conduct following the completion of the hole.”

Next steps

David said that Elementos remains focused on continuing the drilling towards a tin, copper and tungsten mineral resource.

The company will also explore for extensions to the semi-massive sulphide mineralisation by carrying out a downhole electromagnetic survey on hole C2123.

This will be initiated upon the completion of the Foleys Zone (Tungsten) deep diamond drill hole.



JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.