Woomera Mining Limited (ASX: WML) (“Woomera”, “the Company”) is pleased to announce that its two-pronged diamond core programme for the recently acquired Bronze Fox Project in Mongolia has been completed. Woomera was able to complete the program in less than four weeks, with all drillholes reaching proposed target depths. In total 16 holes were completed for 2516.4m (Refer to Table 1).
- Woomera’s first drill programme at the Bronze Fox Project in Mongolia has been completed.
- 16 Diamond drill holes were completed for a total of 2516m.
- Drilling largely focussed on shallow infill and extension drilling with a single deeper hole (F109/916.4m) testing a coincident geophysical/structural target.
- The target porphyry was intersected in all holes with assays due late December/early January.
- Woomera can earn an 80% interest in the Bronze Fox Project by spending US$4m on exploration (with an election to acquire 100%).
Assays for the program are expected to be available in late December 2024 or early January 2025. Woomera can earn an 80% interest in the Bronze Fox Project from Kincora Copper Limited (ASX: KCC) by expenditure of US$4m and has to the right to acquire a 100% interest.
Figure 1: Drilling at Bronze Fox
Figure 2: Field work at Bronze Fox
BRONZE FOX PROJECT
The Bronze Fox Project covers 175km2 and is located in the Southern Gobi porphyry belt of southern Mongolia, approximately 450km south of the capital Ulaanbaatar. It represents an opportunity to secure a 100% interest in an underexplored world-class porphyry copper project with genuine Tier-1 potential. Drilling by Kincora totalling 46,625 metres of Reverse Circulation and Diamond Core drilling has defined three shallow, large porphyry complexes, providing genuine new discovery potential, resource delineation and early-stage exploration plays.
The Bronze Fox Project contains the West Kasulu Inferred Mineral Resource of 194.1Mt at 0.26% Copper Equivalent (CuEq), at a 0.2% CuEq cut-off to a depth of approximately 325m below surface and an Exploration Target of between 100Mt and 300Mt at 0.25 to 0.35% CuEq.20221
The Bronze Fox Project is located proximal to several world class mineral deposits including Oyu Tolgoi, Kharmagtai, Tsagaan Suvarga and Tavan Tolgoi (see Figure 3).
Click here for the full ASX Release
This article includes content from Woomera Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
