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LON: GBp p (%)
The M2 Copper Project lies within the Black Mountain Group and supports an Indicated and Inferred Mineral Resource, independently prepared in accordance with JORC guidelines. At a 0.2% cut-off grade, the current total resource is 4.3 million tonnes of 0.45% copper for 19 thousand tonnes of contained copper metal. The M2 project is open down dip towards the south-east, and also along strike both north-east and south-west.
M2 is a potential planar structure, extending 2,134 metres south south-east beneath the crest of Black Mountain to the vicinity of the historic Smith Copper Mine. The Company considers that the source of the M2 and Smith Mine copper mineralisation is an epithermal plume located beneath the “Sharktooth” peak of Black Mountain. Low grade, open-pittable copper-gold values at M2 are indicators of much higher grade and more consistent copper-gold oxide mineralisation at the intersection of the vertical north-easterly Sharktooth structure and the Diorite-Dunlap hanging wall caprock.
The M2 Sharktooth target is a deeply buried zone within the diorite, beneath the Sharktooth peak, down dip from the current M2 oxide Cu Resource. The target could potentially extend the current M2 Resource a further 500m along strike, and 500m down dip. Target thickness could range from 10m to 100m. The total target zone covers an area of approximately 2.5km2, which could host a deposit in the range of 15MT to 200MT.