Metal Bank Unearths Copper-moly Porphyry Promise at Mt Mackenzie
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- Category: Molybdenum's News
- Published on 10 September 2014
- Written by luya
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Metal Bank (ASX:MBK) has looked at historical exploration data from the 1970’s covering the Mt Mackenzie Project in Queensland that may have helped hone in on a copper-molybdenum porphyry style mineral system.
The project was apparently never sampled for gold or silver given prevailing metal prices at the time.
Historical data has defined coincident copper and molybdenum soil anomalies associated with porphyry style mineralisation within an open area of 6.4 square kilometres.
Many large porphyry style gold deposits contain elevated copper and molybdenum with examples in Queensland including the 3 million ounce Mt Leyshon and 4 million Kidston deposits.
Mt MacKenzie lies 40 kilometres from the Mt Carlton copper-gold-silver mining operation owned by Evolution Mining (ASX:EVN) which produces 85,000 gold equivalent ounces per year.
Initial sampling is now planned to assess the porphyry copper-molybdenum plus gold-silver potential.
The company remains lightly valued at $5 million, so offers some potential in the event of future notable discoveries.
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