Pegasus Metals has intersected copper mineralization in each of the 3 holes recently drilled into the Bowerbird target at the McLarty Range Copper Project in the West Kimberley region of Western Australia.

Drilling returned native copper in one hole for which assays are awaited and an intersection of 7 meters at 1.02% copper in another hole. A number of intersections grading more than 0.2% copper were recorded in each of the three holes.

The McLarty Range Copper Project is located some 250 kilometers northeast of Broome and 110 kilometers north of Derby. It covers a portion of the folded Proterozoic aged Kimberley Basin.

Of particular interest to Pegasus is a prospective copper bearing, meta sedimentary horizon that has been identified and sampled by previous explorers.

While selected rock chip samples have returned high copper grades up to 18%, the area was previously untested by drilling. The drill holes are part of a program designed to test and confirm the structural and stratigraphic interpretation at Bowerbird.

Zones of remobilized copper of 10.9 meters at 0.31% from 28 meters including 0.32 grams per tonne silver and 14.55 meters at 0.23% copper from 49 meters were encountered in the first two holes. This confirms that the system is rich in copper, that re mobilization does occur and that the supergene system is developed.

Native copper was intersected in the second hole at the base of or just below, the prospective stratigraphy and indicates that the extent of the stratigraphic section prospective for copper is greater than previously thought.

(Sourced from www.proactiveinvestors.com.au)