GCX Metals begins Phase 1 drilling at the Cronus target, part of its Dante project in the West Musgrave
Over 17km of strike to be investigated
Dante is a stone’s throw from BHP’s giant Nebo-Babel mine currently under development
Special Report: GCX Metals has begun its first RC drilling campaign across ~7,000m of identified magmatic copper-gold sulphide targets at its Dante project in the remote but highly prospective West Musgrave region.
At Dante, GCX Metals (ASX:GCX) is surrounded by majors – none more prolific than BHP (ASX:BHP) and its massive $1.7 billion, 390Mt Nebo-Babel nickel-copper-PGE project currently under construction.
Nebo-Babel is one of the largest copper and nickel sulphide discoveries in recent times, and the infrastructure the Big Aussie is putting in place for its upcoming mining operation bodes well for neighbouring projects like Dante.
But don’t just take GCX’s word for it, others such as Rio Tinto (ASX:RIO), Caspin Resources (ASX:CPN) and Redstone Resources (ASX:RDS) are also exploring tenure in the emerging West Musgrave province.
The company’s maiden drill program is looking to uncover another major copper deposit with prices for the red metal expected to fetch US$8,800/t this year, another ~3.14% gain on last year’s average, according to recent BMI data.
Phase 1 drilling
GCX has expanded drilling from 4,000m to ~7,000m over shallow and outcropping copper, gold and PGE targets, starting with its Cronus target – a large-scale, 7km long x 1.5km wide interpreted intrusion with a strong copper-gold-palladium anomalism.
Once drilling is completed there, GCX will move over to the Crius (PGE-gold-copper), Hyperion (PGE-gold-copper), and Oceanus (PGE-gold-copper) district-scale targets which contain three high-priority outcropping reefs.
The Dante project with identified drilling prospects. Pic: Supplied (GCX)
“We are very pleased to have successfully established the camp and commenced our maiden drill program at the Dante project,” GCX managing director Thomas Line says.
“This drill program will mark the first broad-scale systematic drilling to have been conducted at Dante.
“The scale and quality of the targets are exceptional and we look forward to learning more as the program progresses over the coming weeks and months.”
This article was developed in collaboration with GCX Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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