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A breakthrough maiden copper discovery provides early encouragement for a mining company in Barkly, according to an ASX release today.
It says significant surface copper oxide mineralisation has been identified at the new Crosswinds prospect about 13 km south east of Barkly Homestead, in the “copper – gold super – project” some 500 km north-east of Alice Springs.
The exploration result for Perth-based Middle Island moves it into NT’s exploration upside, says the release.
“Mineralisation occurs as malachite (copper carbonate) interbedded with calcrete and silcrete, representing the surface expression of limestones comprising the Georgina Basin.
“The surface copper mineralisation is interpreted to reflect the secondary migration of copper along growth faults that extend from primary mineralisation within the Proterozoic basement rocks.”
Says Managing Director Rick Yeates (pictured): “Even disregarding the high grade copper results, the Crosswinds discovery is particularly significant in that it’s interpreted to provide ‘proof of concept’ for the Barkly mineralised model.”
The copper prospect is located immediately adjacent to the sealed Barkly Highway.
– Contributed.
Good news but this find will have to be much better than one in WA to have any chance of progressing.
The greens will be throwing spanners in the works with a range of objections.
The Land Council will take more than a year to get agreement with traditional owners.
Once they get agreement a different group will claim they were robbed and a bun fight will erupt.
Years will pass with little progress.
In WA it’s months not years to get the approvals and that is where billions of dollars is being invested.
The WA budget is in surplus and the NT is broke.