(MENAFN - ProactiveInvestors - Australia) Quintessential Resources (ASX:QRL) has intercepted positive copper, silver, gold and molybdenum from the assays from drilling at its Irak Prospect in Bismarck in Papua New Guinea.
The drill hole IKD 001 returned a peak drill intercept of 0.65 metre grading 2.43% copper, 28.2grams per tonne silver, 0.33g/t gold, 322 ppm molybdenum, within 8.3 metres of 0.34% copper, 7.6g./t silver 0.17 g/t gold 66ppm molybdenum.
The hole was completed to a final depth of 75.0 metres to test the 10 metres wide, copper-silver rich occurrence that trends east west.
Drilling revealed a 12.2 meter zone of steeply south dipping skarn mineralisation consisting of 3 narrow (10-30cm wide) massive sulphide veins with brecciated margins and associated intervening stockworking, plus additional narrow mineralised zones further downhole.
The polymetallic mineralisation is hosted in a steeply north dipping skarn containing several narrow massive magnetite- quartz- pyrite-chalcopyrite veins.
There is also presence of regional outcrop and float rock chip sampling that revealed the occurrences of long but probably relatively narrow zones of polymetallic skarn mineralisation.
Copper-silver-molybdenum-gold mineralisation is known to occur at Irak in various forms including skarns, brecciated veins, stockworks and quartz-sulphide veins.
Copper mineralised porphyry is likely to be proximal to Irak as the source of the mineralisation and is a high priority target for future drilling.