Materials

Norfolk hits visible copper in third hole at Tassie project

Mon 16 Jan 23, 10:29am (AEST)
A mineral geologist surveys outcrop in an unknown location in Western Australia
Source: iStock

Key Points

  • Norfolk Metals reports visible copper in core samples returned from latest diamond drillhole on-site
  • Company now considering new seismic and soil sampling activities to inform next drill targets
  • Visual assessment of mineralisation should not be relied on with the same level of confidence as full-fledged assay results

The exploration team at Norfolk Metals (ASX:NFL) on Monday built on its strong start to the year at the Tasmanian Roger River copper project, with the latest drillhole turning up evidence of visible mineralisation. 

A core (or is it multiple cores?) collected from the third drillhole of the 2023 campaign, 22RRD-003, showed three discrete zones of native copper mineralisation present from 102m to 137m depth; 159m to 182m depth, and again at 212m to 263m depth. 

Two hits of visible copper have been logged, both 3km apart.

Promising indication 

The move holds promising implications for the company’s future activities at Roger River, despite the considerable depths of the copper mineralisation deposits.

Visible copper is typically received as a bullish signal by those who invest in junior explorers. 

“It is very pleasing to see more visual copper at our third drill hole…worth noting, these holes are approximately 3km apart along the same interpreted fault splay from the main Roger River structure,” Norfolk Metals Executive Chairman Ben Phillips said. 

Back to basics

Phillips noted the company will now get back to geophysical and geochemical soil surface sampling to inform the target locations of the next drill run at Roger River. Drillers are currently taking a break. 

“As we continue to investigate…we may revert to additional geochemistry and geophysical exploration techniques prior to drilling our next target,” he said. 

The company awaits assay results from the first drillhole, as well as the new hits reported on Monday. 

Shareholders should also note that first-look assessments based on visual observations can be different to future more detailed analysis of grades during the assay process. 

Visible copper mineralisation at over 200m depth as contained within a diamond drillhole core (Source: Norfolk Metals)
Visible copper mineralisation at over 200m depth as contained within a diamond drillhole core (Source: Norfolk Metals)
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Norfolk was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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