{"id":4100,"date":"2024-01-09T01:14:52","date_gmt":"2024-01-09T01:14:52","guid":{"rendered":"https:\/\/economicherald.net\/?p=4100"},"modified":"2024-01-09T01:14:52","modified_gmt":"2024-01-09T01:14:52","slug":"high-tonnage-copper-at-picha-drilling-at-firetails-fundicion-target-uncovers-evidence-of-a-porphyry-system","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4100","title":{"rendered":"High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system"},"content":{"rendered":"<p>Drilling at the Fundicion target uncovers porphyry copper mineralisation potential<br \/>\nFiretail\u2019s maiden 5,000m diamond drill program almost 40% complete<br \/>\nPeru is the world\u2019s second-largest copper producer<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong><strong> Completion of the first drill hole at the Fundicion target at Firetail Resources\u2019 flagship Picha copper project in Peru has identified evidence of a potentially large porphyry mineralised system.<\/strong><\/p>\n<p>Porphyry copper deposits account for &gt;60% of the world\u2019s copper and include other important metals such as molybdenum, gold and silver \u2013 and are known for their low grades and very high tonnage.<\/p>\n<p>Peru is the world\u2019s second-largest copper producer, so it\u2019s no wonder that mining majors such as Vale, BHP, Rio and Newmont all operate in-country, where the Peruvian government provides attractive T&amp;C\u2019s for foreign investment.<\/p>\n<p>Aussie explorer <a href=\"https:\/\/stockhead.com.au\/company\/firetail-resources-ftl\/\"><strong>Firetail Resources\u2019 (ASX:FTL)<\/strong><\/a> is right in the heart of the Andean nation\u2019s copper mining region near the Bolivian border where it is focused on the Picha copper-silver project.<\/p>\n<p>Drilling is currently under way at four main target areas.<\/p>\n<p>The Picha and Charaque projects and surrounding mining operations. Source: FTL<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Uncovering porphyry potential<\/strong><\/h2>\n<p>FTL\u2019s maiden diamond drilling program comprising 10 drill holes for ~5,000m at Picha is nearing completion.<\/p>\n<p>Four high-priority targets for the drill campaign \u2013 Cobremani, Cumbre Coya, Maricate and Fundicion \u2013 show the potential for high-grade copper mineralisation.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/an-elephant-in-the-room-firetail-hits-thick-shallow-high-grade-copper-paydirt-at-picha\/\">Recent channel sampling<\/a> showed Maricate has a surface geochemical anomaly that includes a sample of 17.6m @ 1.95% copper, while the Cumbra Coya target sampled 32.85m @ 0.61% copper and 209g\/t silver.<\/p>\n<p>At the Cobremani target, a sample of 41.6m @1.12% copper and 22.85g\/t silver, and a strong geophysical anomaly at ~200m depth was intersected, while Fundicion has chargeable anomalies at depth of up to ~300m.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Latest findings<\/strong><\/h2>\n<p>Drilled down to a depth of 520.5m, indicators of a porphyry system were identified at hole 23PFND0001 at the Fundicion target from around 250m, with mineralisation that includes silver, bornite, covellite and chalcopyrite, together with significant quartz veining and alteration.<\/p>\n<p>Samples have been sent to the laboratory for analysis and results are expected in early February. FTL anticipates that follow-up drilling will take place at the target as part of the current drill program.<\/p>\n<p>An additional hole has also been completed at each of the Maricate and Cumbre Coya targets, with further drilling at Cumbre Coya currently underway following the intersection of visible secondary copper mineralisation in the first drill hole.<\/p>\n<p>Areas of interest in the current Picha drill program. Source: FTL<\/p>\n<p>\u00a0<\/p>\n<h2><strong>More drilling to come<\/strong><\/h2>\n<p>FTL executive chair Brett Grosvenor says the team is very encouraged by the alteration and veining observed at the Fundicion target, which are indicative of a potential porphyry system.<\/p>\n<p>\u201cThese indicators provide the vectors and the confidence to continue drill testing Fundicion and receipt of these latest results continues to validate the prospectivity of the Picha project and the potential to host a large mineral system,\u201d Grosvenor says.<\/p>\n<p>\u201cWe are less than 40% through our initial program and the results continue to be highly encouraging.<\/p>\n<p>\u201cThe team onsite remains focused on completing the maiden program and further assays and results are due in early February and our expectation is that they will continue to confirm our findings to date.\u201d<\/p>\n<p>Next steps at Picha include further drilling of Cumbre Coya and Fundicion targets to test geophysical chargeability anomalies, as well as mapping and sampling of new targets for drill hole target generation.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Firetail Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/high-tonnage-copper-at-picha-drilling-at-firetails-fundicion-target-uncovers-evidence-of-a-porphyry-system\/\">High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Drilling at the Fundicion target uncovers porphyry copper mineralisation potential Firetail\u2019s maiden 5,000m diamond drill program almost 40% complete Peru is the world\u2019s second-largest copper <a href=\"https:\/\/economicherald.net\/?p=4100\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4100\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Drilling at the Fundicion target uncovers porphyry copper mineralisation potential Firetail\u2019s maiden 5,000m diamond drill program almost 40% complete Peru is the world\u2019s second-largest copper [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=4100\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-09T01:14:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/01\/FTL-image-5-1-7YWLDq.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4100#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4100\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"High tonnage copper at Picha? 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Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=4100","og_locale":"en_US","og_type":"article","og_title":"High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system - Economic Herald","og_description":"Drilling at the Fundicion target uncovers porphyry copper mineralisation potential Firetail\u2019s maiden 5,000m diamond drill program almost 40% complete Peru is the world\u2019s second-largest copper [more...]","og_url":"https:\/\/economicherald.net\/?p=4100","og_site_name":"Economic Herald","article_published_time":"2024-01-09T01:14:52+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/01\/FTL-image-5-1-7YWLDq.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=4100#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=4100"},"author":{"name":"","@id":""},"headline":"High tonnage copper at Picha? Drilling at Firetail\u2019s Fundicion target uncovers evidence of a porphyry system","datePublished":"2024-01-09T01:14:52+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=4100"},"wordCount":639,"commentCount":0,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=4100#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/01\/FTL-image-5-1-7YWLDq.jpeg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/economicherald.net\/?p=4100#respond"]}]},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=4100","url":"https:\/\/economicherald.net\/?p=4100","name":"High tonnage copper at Picha? 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