Altona Mining Limited has commenced drilling at its 100% owned Roseby South Project near Mt Isa in Queensland after securing the necessary third party arrangements and Aboriginal heritage clearances.
The project adjoins the southern boundary of Altona’s Cloncurry project which is the subject of a US$235.5 million proposed joint venture with Sichuan Railway Investment Group (SRIG).
According to the company, the planned reverse circulation drilling program consists of approximately 15 to 25 holes and 2,500 metres of drilling at Harvest, Hobby and Reaper, as well as at “one or two” other prospect.
“At each prospect, large copper-in-soil anomalies greater than 1,000ppm (0.1% copper) have been defined. The anomalism is of similar size and tenor to the Cloncurry Project’s Little Eva deposit (546,000 tonnes contained copper and 295,000 ounces of gold),” Altona told the ASX.
“Outcrop and float rock samples returned up to 14.4% copper and 0.74g/t gold at Harvest; 23.3% copper and 2.9g/t gold at Hobby; and, 0.8% copper and 1.54g/t gold at Reaper.”
Altona said no previous drilling has been undertaken at Hobby and Reaper, adding that reconnaissance drilling at Harvest by past explorers returned significant mineralised intersections.
The drilling program is expected to be completed by November 2016 at a cost of approximately $250,000.