AusNiCo geophysical techniques point to large copper silver system at Silver Valley Prospect

AusNiCo (ASX: ANW) has potentially uncovered a large copper silver mineralised system at the Silver Valley prospect near Gympie in Queensland.

Geophysical techniques were applied at the prospect with a 1200 metre reverse circulation campaign now completed to define the extent of the mineralisation.

AusNiCo said the results support semi‐massive silver/copper mineralisation previously discovered in SVGD1 and 2, and confirms the exploration model at Silver Valley.

The latest highlights include:

- 16 metres at 1.27 grams per tonne (g/t) silver from 91 metres;
- 14 metres at 6.2g/t silver from 24 metres, including 2 metres at 24g/t silver, 0.58% lead, 0.53% zinc, 0.2% copper;
- 10 metres at 22g/t silver, 0.13% copper from 30 metres; and
- 70 metres at 7.9g/t silver, 0.06% copper from 112 metres.

Importantly, the zone remains open to the north, south and at depth, providing the potential for strike to extend over five kilometres.

AusNiCo continues to move the project forward, with further drill testing and Induced Polarisation (IP) Modelling to assess the tonnage potential.

The company added that preliminary drilling of the 300 metre wide IP anomaly encountered in the southern two survey lines revealed abundant sulphides (dominantly pyrite) associated with the altered contact aureole between the Mt Mia Serpentinite (Greenstone) and underlying Station Creek Adamellite.

SVG 11 intersected mineralisation from a 112 metre down hole, which was stopped at 182 metres still in mineralisation.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/17595/ausnico-geophysical-techniques-point-to-large-copper-silver-system-at-silver-valley-prospect-17595.html