CXO kicks off silver-lead-zinc drilling at Blueys and Inkheart

Published at Sep 25, 2014, in Juniors

Core Exploration (ASX:CXO) has commenced drilling its high grade silver-lead-zinc discovery at its Inkheart and Blueys Prospects, 100 km east of Alice Springs in the Northern Territory.

CXO’s first drilling program at the Albarta Project discovered high grade silver-lead-zinc mineralisation in a single traverse of the 2 km long silver in soil anomaly at Inkheart.

Assays values of up to 354g/t silver, 11% lead, and 6.51% zinc were encountered. Drilling also intersected high grade silver at the nearby Blueys Prospect with values of up to 1,070g/t.

CXO’s 2,500m reverse circulation follow-up drilling program at Inkheart and Blueys is on schedule to be completed in the next 2 to 3 weeks with assays results expected during October.

This drilling has the potential to find more high grade mineralisation in the deeper and shallower parts of the sulphide system.

Other exploration activities for CXO

Last month, CXO defined a large prospective zone at its Jervois Domain project in the Northern Territory, and has initiated soil surveys reconnaissance mapping.

CXO is also conducting aerial electro-magnetic surveys to define drill targets within a 20km zone that has similar structural and magnetic features to KGL Resources’ (ASX:KGL) Jervois prospects.

The aerial survey has the potential to map and model 3D conductors to 400m depth. Initial results from these surveys are expected in October.

CXO controls 280 km2 that surround tenements owned by KGL. Recent drilling by KGL in the centre of the Jervois Domain made several high-grade discoveries, substantially upgrading the economic potential of this new exploration province.

CXO’s adjacent EL 29581 is located only 500 metres west of KGL’s Bellbird drill intersection of 13 metres at 5.75% copper, 23.2g/t silver, 0.32g/t gold from 20 metres in July.

To date, significant mineralisation has been discovered in the outcropping Jervois Domain which is dominated by tightly folded Bonya Schist. Due to shallow cover, only limited work has been undertaken elsewhere in this prospective district.

CXO’s exploration model in the Jervois region considers that mineralised host stratigraphy is repeated under shallow cover on the eastern side of the Jervois Domain, and runs directly through CXO’s tenements.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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