Richmond Mining to drill Narracoota copper-gold targets in May

Richmond Mining (ASX: RHM) has advised that drilling of bedrock conductive anomalies defined from the VTEM survey is scheduled to commence during May at the Narracoota project, 80 kilometres north of Meekatharra, Western Australia.

Final geological interpretation of the VTEM data and selection of drill targets has been completed. The company plans to undertake two drilling programmes to test the 18 anomalies defined by the VTEM survey.

The initial programme is scheduled to commence in the week beginning 17 May and is designed to test seven high priority anomalies within the Narracoota Volcanics, the same rocks hosting Sandfire Resources’ DeGrussa copper-gold discovery.

It is estimated that 1,400 – 1,600 metres of reverse circulation drilling will be carried out in this first phase and take about 1½ weeks to complete.

The company used VTEM geophysical technology to explore at the Narracoota project for conductive anomalies. This technology was also used by Sandfire Resources to delineate the conductive anomalies associated with the high grade DeGrussa copper-gold discovery.

Richmond’s VTEM survey of the Narracoota project detected 18 bedrock conductors under the sediment cover. The presence of copper-gold occurrences in the vicinity of the project is highly encouraging as it demonstrates that a mineralising event was at the very least, proximal to the project area.

In addition, three of the conductors to be tested in the initial programme lie within areas adjacent to limited historical drilling where elevated copper was recorded in the basement samples, in one case up to six times background.

Narracoota has the lithologies consistent with the DeGrussa discovery and presents a significant copper-gold target.

http://www.proactiveinvestors.com.au/companies/news/6256/richmond-mining-to-drill-narracoota-copper-gold-targets-in-may-6256.html