Metals X Limited recommenced underground drilling in November 2016 shortly after taking control of the Nifty Copper Operation. To date, approximately 20,000 metres of diamond drilling outside of the mining area has been completed with the objective of extending the Ore Reserve up plunge, down-plunge and within the limbs of the folded carbonate units within the Nifty syncline. Although a substantial number of assays are still pending, results to date confirm significant extensions of mineralisation outside of the current mining areas.The drilling has returned some exceptional and long intercepts of well-developed copper mineralisation which are analogous to the Nifty ore system.
Metals X Managing Director, Warren Hallam, said: “We are very pleased with the results to date that clearly confirm the upside potential of this outstanding ore system. We are confident that we will grow Nifty into a large, long-life mine and that Nifty will continue to be a significant copper producer for years to come”. “We are excited by the exploration potential within the Throssell Ranges and believe that there is substantial opportunity for further discoveries. We have commenced our regional exploration program with the drilling of a Nifty look-alike target at the Finch Prospect, 20 kilometres south-east of Nifty that is also on the same regional copper-trend. A second rig has also been deployed to test the down-plunge extent of the Nifty syncline on the basis of results from the recent deep seismic surveys.” “In addition, drilling will commence at our Maroochydore Prospect in August after the completion of the current Finch program. Maroochydore is located approximately 85 kilometres south-east of Nifty and already hosts a large copper oxide deposit with over 500,000 tonnes of contained copper metal at a grade of approximately 1% copper. More recent deeper drilling has also identified the upper zones of the primary chalcopyrite sulphide mineralisation. The objective of the program is to explore for another Nifty at depth”.