Queensland Mining Corporation has started initial resource drilling to expand existing JORC Resources of 2.13 million tonnes of Copper at its Young Australian copper project in Queensland.

The 27 hole reverse circulation program totalling 3,700 meters will focus primarily on testing the continuity of copper mineralization between the Young Australian and East Drift leases as well as evaluating lateral extension of the mineralization to the west of the Young Australian pit.

This follows finalization of the agreement allowing QMC to carry out exploration on six sub blocks of Ivanhoe Australia’s permit. The 250 meter gap between the two leases was not previously accessible prior to the agreement.

The Young Australian deposit did not form part of the original Matrix 2005 BFS as the mining leases were not part of Matrix’s assets. The current drilling was designed as an integral component of the current upgrade of the White Range Feasibility Study that QMC is undertaking.

Geochemical exploration carried out at the project has also identified two new iron oxide copper and gold style targets outside of the previously drilled Young Australian areas.

The Dega and Trinity prospects are 700 meters by 400 meters and 1,000 meters by 400 meters in size respectively. Field mapping has identified extensive magnetite and hematite altered sandstone and doloritic rocks plus visible copper mineralization associated with K-feldspar and biotite alteration.

Source - Proactive Investors.com

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