(MENAFN- ProactiveInvestors)
() has intersected significant copper mineralisation including 42 metres at 1.51% copper from surface during initial drilling at its Mason Valley copper project in Nevada U.S.
This is a key step towards achieving its goal of building a copper resource around four historical high grade copper mines at the project.
Results from the first two of the eight reverse circulation drill holes at Bluestone the first of the mines to be tested also validates the company’s view that project has being overlooked by modern exploration.
Between 1910 and 1931 approximately 3.8 million tonnes at 2.5% to 6.2% copper was produced from three of these mines for which historical documentation is currently available.
Closure of these mines coincided with the onset of the Great Depression.
Past exploration and drilling (modern and historical) over the Mason Valley mining camp has been limited due to the previous fragmented ownership of the mining claims/tenure.
The company was a standout yesterday closing 88.9% higher at $0.017.
This could just be the beginning given that additional results are expected in the coming weeks for the remaining drill holes as part of this first phase program at Bluestone.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.