The Cannington Project is located 130km SSE of Cloncurry comprised of two exploration licences that covers a total area of 113.4 km square.
The main prospect within the Project is Brumby, being a copper-gold project spatially related to a strong magnetic high and interpreted to be an Iron Oxide Copper Gold (IOCG) style target.
The Cannington Project is so named due to its close proximity to the Cannington Mine, one of the world’s largest producers of silver and lead, owned and operated by South32 Limited (ASX:S32).
The main prospect within the Project is Brumby. Despite the proximity to the silver, lead, zinc deposits of Cannington and Pegmont, the Brumby Prospect is a copper-gold project spatially related to a strong magnetic high and interpreted to be an Iron Oxide Copper Gold (IOCG) style target similar to Evolution Mining’s Ernest Henry Deposit 150km north (90 Mt @ 1.17% Cu and 0.6 g/t Au) and the Osborne-Kulthor Deposits 32km to the south-west (26Mt @ 2.63% Cu and 1.0g/t Au).
The Brumby Prospect has a significant copper-gold anomaly identified from drilling. The best intercept to date is from drillhole BRNQ12 is: 88m at 0.6% Cu and 0.17g/t Au from 157m including 16m at 1.8% Cu and 0.5 g/t Au from 157m.
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