Australian heavy rare earths producer Northern Minerals (ASX: NTU) has announced high-grade copper assays following a selective rock chip sampling program at the Company’s 100%-owned John Galt Project, located 200km south of Kununurra in the East Kimberley region of Western Australia.
HIGHLIGHTS
• Rock chip sampling returned numerous assays greater than 1% copper (Cu);
• Results up to 2.92% Cu returned;
• High grade copper results over 500m strike extent; and
• Limited sampling indicates mineralised copper zone is open north and south.
In October 2019, the Company undertook a selective rock chip sampling program over an area of 2.0km x 0.5km at John Galt. While the project already contains a heavy rare earth prospect, this program was targeted in an area 3-4km to the south of the John Galt Heavy Rare Earth Prospect and was focused on previously identified copper occurrences.
Of the 24 samples collected and analysed, 12 returned assays of greater than 1.0% Cu. The higher grade copper samples mostly occurred in a cluster over 500m of strike length. Anomalous gold and silver assays were also observed for some of the anomalous copper samples.
While the Company has a primary focus on rare earth elements, the discovery of copper mineralisation provides significant potential for commodity diversification, particularly for a company focussed on electric vehicles and sustainable power generation.
Northern Minerals Managing Director and CEO, George Bauk, commented “These copper results were an unexpected bonus for our exploration program at John Galt.
“While we are at our core a rare earth focused company, we will always look at ways to add value for our shareholders.
“As with rare earths, copper is an important element in the electric vehicle revolution given its widespread use in these vehicles.
“It is early days with respect to these copper results, however we are extremely encouraged by the widespread and high-grade nature of the results received.
“With the performance of Browns Range improving every day and nearing nameplate capacity, we are confident of a good year ahead.”
