The Copper Mountain mineral claims in Australia represent the largest mineral tenure position in the northwest Queensland region at an area of 397,000 ha (3,970 km2) which spans a distance of 250 km. Copper Mountain’s main targets are IOCG copper-gold mineralization. This area is home to several world-class mines including Mount Isa and Ernest Henry. It is estimated that the area hosts approximately 11% of the world’s zinc, 5% of its silver and 1% of its copper.
In addition to the five deposits planned to be mined within the Eva Copper Project and a further seven Mineral Resources not scheduled, there are an additional 141 prospects that have been identified over the Company’s lease holdings. These range from prospects with existing drilling intercepts to those with identified geochemical, geophysical anomalies or structural targets, yet to be drilled. To date the Company has found that surface geochemistry (soil sampling and associated portable XRF assaying) has been the most successful exploration technique.
Large Landholding with Discovery Potential
This is the largest assembled land package in the Eastern Mt. Isa Inlier area.
The Rose Bee fault is a highly mineralized and prospective area within the Mt. Isa Inlier area and is surrounded by major & junior companies. Copper Mountain controls the major part of the Rose Bee fault.
Despite the large copper and gold resources that have already been declared on the Company’s property, most drilling is limited to the known deposits and is very shallow. The property remains highly prospective and under-explored.
Australia 2018 Exploration Plans
- $5 million budget for its Cloncurry project located in Queensland, Australia.
- Planned work programs will include
- follow-up drilling on discoveries made in 2017
- testing of new targets supporting works for the active Full Feasibility Study on the proposed Eva Copper Mine, which is compliant with NI 43-101.
Altona Mining’s 2017 exploration drilling program, which was shallow and reconnaissance in nature, tested several significant copper-in-soil anomalies at the Companion, Veiled and Quamby prospects (as released by Altona Mining Limited on February 8, 2018).
These prospects add to an emerging cluster of copper-gold discoveries located 30km south of the Company’s proposed Eva Copper Mine.