Metals

Coolabah Metals (ASX:CBH) begins maiden drilling program at Gunpowder Creek, QLD – The Market Herald

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  • Coolabah Metals (CBH) kicks off the first round of drilling at its Gunpowder Creek project near Mt Isa, Queensland
  • The 150- metre reverse circulation drilling program will follow up rock chip samples collected from historic workings situated along the May Downs fault
  • Across the 26 historic workings, 251 rock chips were collected with results peaking at 21.6 grams of gold per tonne
  • Following the reconnaissance work, Managing Director Cameron Provost says the maiden drilling program is a big step forward for exploration in the area
  • Company shares end trade flat at 8.2 cents

Coolabah Metals (CBH) has kicked off the first round of drilling at its Gunpowder Creek project near Mt Isa, Queensland.

The project area hosts multiple historic workings over five kilometres and is prospective for vein and fault hosted gold and copper-lead-zinc mineralisation.

The 1500-metre reverse circulation drilling program has been designed to follow up on high-grade rock chip samples collected from historic workings situated along the May Downs fault.

Twenty-six historic gold workings were tested with a total of 251 rock chips collected.

Results included up to 21.6 grams of gold per tonne (g/t), as well as 18.5 g/t gold and 13.2 g/t gold.

These high-grade results were collected from two groups of historic workings 300 metres apart.

Following the reconnaissance work, Managing Director Cameron Provost said kicking off drilling is a big step forward for the exploration in this area.

Company shares ended trade flat at 8.2 cents.

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