E79 Gold secures option to acquire Australia copper-gold project
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
West Australian-based explorer E79 Gold Mines Limited has announced it has secured an option to acquire the largescale Mountain Home Copper-Gold Project located in the Northern Territory.
E79 Gold CEO, Ned Summerhayes, said: “The Mountain Home Project came to our attention through our project review process and was simply too good an opportunity to pass up, providing meaningful exposure to the prolific McArthur Basin in the Northern Territory.
“This Proterozoic-aged basin hosts the world’s largest accumulation of shale-hosted zinc-lead-silver mineralisation, including the world-class McArthur River lead-zinc Mine, the Teena zinc-lead discovery, the Redbank copper deposits, and the historic Merlin Diamond Mine, all of which lie within 80 km of Mountain Home.
“The Project sits within an under-explored inlier of prospective Proterozoic-age McArthur basin stratigraphy – the host stratigraphy of all major metalliferous deposits within the McArthur Basin.
“The entire 40 km strike extent of the inlier is prospective for copper mineralisation, with 27 km of strike sitting within the Mountain Home Project area. Rock chip grab sample assay results of up to 33% copper highlight the Project’s exceptional early-stage potential, with associated gold in the rock chip samples of up to 1.31 g/t Au.
“With the Dry Season now upon us, E79 Gold intends to get on the ground at Mountain Home without delay to explore along strike from these exciting high-grade copper-gold rock-chip results within this highly prospective mineralised province.”
Read the article online at: https://www.globalminingreview.com/mining/30052024/e79-gold-secures-option-to-acquire-australia-copper-gold-project/
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