Demetallica to upgrade Jericho resource late in 2022

Demetallica (ASX:DRM) is proving itself as a robust junior explorer after less than three months on the market, with today’s quarterly revealing a management team getting on with the job. 

Likely of foremost interest to investors, Demetallica expects to upgrade its mineral resource estimate attached to the QLD ‘Chimera’ polymetal project by the end of the year.

Chimera encapsulates the Jericho prospect, which has consistently returned strong copper grades in initial drilling. 

What’s so good about Jericho?

Earlier this month, Demetallica unveiled its maiden assays at Jericho.

Those results came only weeks after the company first commenced trading on the ASX. By the time its ticker was live, activity was already underway on-site. 

The company has noted its current mineral resource estimate is only based on a 2.2km strike length, whereas targets across both J1 and J2 lodes comprise a total of 3.7km.

Currently, two drill rigs are active on-site targeting two lodes that comprise Jericho.

What else is on the cards? 

Demetallica’s assets are located across Queensland and South Australia. 

Broken down: 

South Australia contains 

• The Peake and Denison JV project (polymetal)

• The Lake Purdilla project (gypsum)

Queensland contains 

• The Chimera project (polymetal) 

• The Windsor project (polymetal)

• The Cannington project (polymetal) 

• The Pyramid project (pure gold play) 

Demetallica’s schedule of activities through 2022 are as follows:

Demetallica's three month charts compared to the materials index

Demetallica was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.