International mining and exploration company Korab Resources announced that it has been advised by third party that historical drilling within its exploration ground near Batchelor town in the Rum jungle mineral field indicates presence of high grade zinc, lead and silver mineralisation.
The company was told that the zinc intercepts occur in the same rock layers as the Woodcutters zinc, lead and silver mine located 8km to the north and are of similar tenor.
“Korab commenced review of the historical drill data for the above area of interest to assess the potential for Batchelor project to hold viable zinc mineralisation. The result will be reported to the market when available,” Korab told the ASX.
“This assessment work will be undertaken in parallel with the ongoing work on the development of the magnesium carbonate Winchester mine which is located 4km to the north (and which is progressing well).”
Korab Resources’ projects in Australia include the Winchester magnesium carbonate deposit and the Geolsec phosphate rock deposit at Batchelor in the Northern Territory. The company, which holds a gold and silver deposit in eastern Ukraine, also explores for gold and copper at Ashburton Downs in WA and for various metals and specialty minerals at Batchelor.