Core Exploration has triple copper find
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
The discovery of three new copper prospects in the Northern Territory has prompted Core Exploration Ltd (ASX:CXO) to issue 5.56M shares in a bid to raise half a million dollars for the company’s war chest.
Copper prospects in the Northern Territory
CXO announced the discovery of three new copper prospects in March, all of them at its Northern Territory in the Greater Paradise Well prospect in the Northern Territory. The company is acquiring a 100% stake in the project.
In total, CXO has now identified four separate prospects in the Greater Paradise Well all situated in a 3km by 3km section.
The company says it’s also investigating a prospective for copper mineralisation 5km to the south-southeast of this area, as the regional geology is pointing to similar potential.
Copper discoveries
Studies of the four prospects in the Great Paradise Well have produced rock chip results showing 32 out of 72 samples are anomalous in copper.
CXO is surveying the soil in an area of more than 20km2, as it has had previous success monitoring the soil at its other prospects prior to drilling, and is aiming for similar results at the Great Paradise Well.
All of these results are encouraging CXO to press ahead with its exploration programme to find more drilling targets.
Blueys Silver Project
CXO says it is to begin its first drilling project in April at its 100%-owned Blueys Silver Project located 100km northeast of Alice Springs in the Northern Territory.
Exploration of the area has previously found highly prospective drill targets, with anomalous silver in the soil and high-grade rock trips showing there is most likely significant mineralisation under the ground.
“Blueys has extremely high silver in soil. Core’s Exploration has identified extremely high grade of silver at the surface, up to 4,000ppm, which we got from sampling for Blueys. We completed a survey last year to target the deeper source of mieralisation at Blueys and the IP identified excellent drill targets,” says Stephen Biggins, CEO of CXO.
IOCG prospectivity
Last year, CXO also published its research into the Aileron Province in the Northern Territory which found many geological features and similarities to the prosperous area of Gawler Craton and Mt Isa Province.
In a presentation, Michael Schwarz, Exploration Director of CXO, said “The mineral potential modelling in 2012 for uranium-rich IOCG mineral systems identified six areas as having potential in the southern Northern Territory.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
